Bitcoins - about to hit $5,000 per coin today!

[polychronopolous]

Do you watch movies on LaserDisc?  Maybe BetaMax?

You are missing the boat entirely.

Bitcoin is not a technological miracle. It is a MONETARY miracle.

Any 'fairy tale' coin that you can gin up in your head will be centralized. It will be led by a group of people and therefore corruptible. Bitcoin does not have this problem. Bitcoin is not a person or a small group of people. Bitcoin is math.

Slap together some coin in a lab that is 1000 times faster than anything else. Put all the bells and whistles on it that you can imagine. It still loses to Bitcoin because of it will be ultimately compromised by the people who produced it.

Daily production of Bitcoin will be be cut in half from 900 to 450 in the spring of 2024. Then down to a daily production of 225, 4 years after that. The math dictates it.

This is a MONETARY land grab that is taking place before our eyes. Bitcoin continues to spread and entrench itself more and more into our world with every passing week.

If this all hurts your ego or you refuse to accept this then I apologize but the rest of the world marches on, with or without you.

[Flexacon]

Any 'fairy tale' coin that you can gin up in your head will be centralized. It will be led by a group of people and therefore corruptible. Bitcoin does not have this problem. Bitcoin is not a person or a small group of people. Bitcoin is math.

Explain all the 50% to 80% flash crashes then bub

[Theoak*]

So in order to pump a dying bitcoin, maxis need to create pump and dump shitcoins?  Thank you for clearing that up for us gib 

For future reference we know your thoughts on btc, its garbage and outdated. Useless by default.....Do you believe it is dying at 36k? Do you have a timeline of when you expect its death or the government  to do a rug pull?

Coinbase adds 2million new users weekly, projected growth by 2024 is 1+billion users. Im betting on a multi trillion $ market cap for btc alone by 2025. So Id say your timeline for a btc ban would be between now and then?  The longer it goes on the bloodier the outcome will be if btc is banned.

[Pray_4_War]

How much are you in for? That's the thing I find interesting.

If you have a BTC or 3 and you have say 10k in, I can see just sitting on it in case something crazy happens. But believe me the minute this thing broke 40-50k I'd be half out of that position, haha.

People buying in at 50k.....well, might as well play the lottery.

I bought in before Michael Saylor and Tesla were buying.  I don't have the bulk of my net worth in Bitcoin so if it goes to zero I'm gonna be disappointed but I'm not going to be ruined.  I do have a lot of money in though.  I agree that buying at 50K isn't a great idea for most people but I'm not taking any profits on my position.  150K isn't life changing wealth for me.  I'm holding all of it for at least the next 5 years.  I have smaller positions in Etherium and Cardano.  Same thing goes for them.......hold, don't sell, see what happens.

[Theoak*]

2017 Vs 2021 Bitcoin essentially holds the same market share % in mid year seasonality.

What it means for alt coins however is we know the numbers have increased from 1,500 to 7,000+ Therefore for remaining share is more diluted.

For eg A number of popular alt coins in 2017 didn’t overtake their previous ATH this run.
 

As for bagholding one could argue maxis are doing that to El Salvadore and Nigeria right now. Maxis don’t GAF and will dump on everyone while claiming moral superiority and freedom lol.

Maxis are as corrupt and power hungry as those in power now racing to become the richest as quickly as possible. I have no problem with power hungry but just be honest about it and don’t BS me.

Absolutely money and power corrupt, reminds of a certain coin where the largest stake holders rule over consensus.....

[Flexacon]

For future reference we know your thoughts on btc, its garbage and outdated. Useless by default.....Do you believe it is dying at 36k? Do you have a timeline of when you expect its death or the government  to do a rug pull?

Coinbase adds 2million new users weekly, projected growth by 2024 is 1+billion users. Im betting on a multi trillion $ market cap for btc alone by 2025. So Id say your timeline for a btc ban would be between now and then?  The longer it goes on the bloodier the outcome will be if btc is banned.

For future reference when someone uses a  at the end of their post it's usually to let people know they are trolling.

You must be syncing cycles with Mayday or something

[Theoak*]

How much are you in for? That's the thing I find interesting.

If you have a BTC or 3 and you have say 10k in, I can see just sitting on it in case something crazy happens. But believe me the minute this thing broke 40-50k I'd be half out of that position, haha.

People buying in at 50k.....well, might as well play the lottery.

This is de ja vu. Ive purcashed at the bottom,mid and top of every bullcycle since 2013.  We all go through those thoughts, I always attained for a whole number I would hodl and the rest would traded, experiment with. I remember the feeling those red candles dropping by $10-$50 at a time. Gut wrenching, still held.

 Then time passed and those candles became $100-200 increments. Years went on and $500-$1000.  By that time, life changing money was given to me only to be ripped away.

Enter 2017 where $1000-2000 candles were the norm through out the year with a subsequent drop of  ~$16000 from ATH. Never sold!

2021 $10000-20000 candles are the norm now and the impact of these dramatic rises and falls have a far lesser impact on my emotional well being. Because time in the market beats timing the market.  You think by 2025 when these candles break up and down by 50-75k that im going to flinch a muscle?

See for every bullphase and bearmarket their are new participants entering the space, those left over from the last phase hodl strong and understand the game while new guys make their bones. We all lose, some learn and adapt......others time the market, take.their gains oay 30-50% CGT only to enter back into the market at a higher  price.

[Theoak*]

For future reference when someone uses a  at the end of their post it's usually to let people know they are trolling.

You must be syncing cycles with Mayday or something

10years of smart phones  and Ive never used emojis!  You did say btc has a greater chance of being banned. When and how does this happen? What time frame do you consider that argument to be void.

[El Diablo Blanco]

It seems like BTC , ETC and DOGE found a new steady bottom. People can complain but think where they were a year ago. All are up mega %%%%. The problem is what will move it forward.

[Flexacon]

10years of smart phones  and Ive never used emojis!  You did say btc has a greater chance of being banned. When and how does this happen? What time frame do you consider that argument to be void.

Something having a greater chance of being banned than something else means just that. It doesn't mean it will be banned by so and so date.

I know what you're angling for though, so I'll save you time. I say when BTC gets banned and you respond with "that's what's so great about it. It exists outside government control, can't stop people using it etc etc".

Go read my post again. I said if BTC gets outright banned it would drop in value. If you're all in on BTC then that isn't really a great outcome.

I'd rather wait, make higher returns elsewhere and only jump in on bitcoin when it's more of a certain thing/less volatile.

[polychronopolous]

Something having a greater chance of being banned than something else means just that. It doesn't mean it will be banned by so and so date.

I know what you're angling for though, so I'll save you time. I say when BTC gets banned and you respond with "that's what's so great about it. It exists outside government control, can't stop people using it etc etc".

Go read my post again. I said if BTC gets outright banned it would drop in value. If you're all in on BTC then that isn't really a great outcome.

I'd rather wait, make higher returns elsewhere and only jump in on bitcoin when it's more of a certain thing.

You're not making higher returns elsewhere.

You're not "selling out" right before the crashes and then scooping back up at rock bottom.

You don't have an edge on anybody. You are fish food in a highly manipulated shitcoin market.

And that doesn't even include talking about the tax implications in this sort of stupid behavior.

Whatever happened to the good ole days of being content with claiming to be an undefeated, underground Kumite champion or knocking out 20 rep squats with 800 pounds on the bar??

Your posts are like the personification of the 'eyes roll' emoji  in multi-paragraph text form.

[Flexacon]

You're not "selling out" right before the crashes and then scooping back up at rock bottom.

LMAO

That's exactly what I did. I was banging the drum warning about a crash when everyone was talking about 300k btc. It's well documented on here and I love being given the chance to remind people.

I also sold before the stock market crash in 2020. Again well documented on here and put it all on silver which has nearly tripled. You guessed it, it's well documented on here.

Just because you can't do it nancy, doesn't mean others can't.

Tax implications for crypto aren't the same everywhere bub or you're just not clever enough to figure out some loopholes.

[IroNat]

Interesting conversation.

[Flexacon]

Interesting conversation.

Well you must have noticed when bitcoin hit the shitter and you came into the thread to troll all the bitcoin fanboys were as silent as church mouse.

I was the one calling you out.

Bitcoin has a mini rally and now the fanboys are back feeling like champions. Some of them clowns like poly act like borderline cultists. Gib, seems like a nice guy, but he gave himself up on here a few years. Bitcoin looked dead and he pretty much owned up to acting the part of a shill.

[polychronopolous]

Nigerians will ‘lead bitcoin,’ says Twitter CEO Jack Dorsey


Twitter co-founder and CEO Jack Dorsey Sunday said “the people of Nigeria will lead bitcoin” despite the Nigerian authorities clamp down on the trading of cryptocurrencies.


Dorsey’s take was a direct reaction to an oped written by NFL star Russell Okung in Bitcoin Magazine.

Okung, a Nigerian descendant and self-acclaimed Bitcoin proponent, advised Nigeria to focus on achieving “economic independence and financial sovereignty” by establishing a Bitcoin Standard.

Nigeria is one of the largest cryptocurrency markets in the world. But the country’s central bank prohibited financial institutions from trading in cryptocurrency.

Banks were also ordered to identify and close down all accounts involved in the transfer or exchange of cryptocurrencies.

“The bank hereby wishes to remind regulated financial institutions that dealing with cryptocurrencies or facilitating payments for cryptocurrency exchanges is prohibited,” the CBN said in a statement.

Still, about $400 million worth of cryptocurrencies have been traded in Nigeria in 2021, Statista, a global market data tracker, said. The volume of trading places it behind only the United States and Russia in the world.

Despite the government’s action, many young Nigerians found alternative ways of buying and selling cryptocurrencies as the country’s currency, the naira, continues to slide against the dollar.

“It is no secret that the current global economic environment is worrisome and unsustainable,” Okung wrote in the oped. “Sadly, the fate of the Nigerian economy is in the hands of global central bankers who do not represent the best interests of the Nigerian people. Despite the challenges we face, the resilience of Nigerians continues to inspire.”

Okung insisted that it is “urgent” for Nigeria to act and that the country has a “limited window”. He pointed to the finite supply of the digital currency as one of its main attractions.

He claimed that Iran, Russia, China and Kenya are already “mining or otherwise utilising bitcoin,” partly as a means of circumventing the United States sanctions which prevent them from full participation in the global financial system.

https://m.guardian.ng/news/nigerians-will-lead-bitcoin-says-twitter-ceo-jack-dorsey/

[a_pupil]

Nigerians will ‘lead bitcoin,’ says Twitter CEO Jack Dorsey


Twitter co-founder and CEO Jack Dorsey Sunday said “the people of Nigeria will lead bitcoin” despite the Nigerian authorities clamp down on the trading of cryptocurrencies.


Dorsey’s take was a direct reaction to an oped written by NFL star Russell Okung in Bitcoin Magazine.

Okung, a Nigerian descendant and self-acclaimed Bitcoin proponent, advised Nigeria to focus on achieving “economic independence and financial sovereignty” by establishing a Bitcoin Standard.

Nigeria is one of the largest cryptocurrency markets in the world. But the country’s central bank prohibited financial institutions from trading in cryptocurrency.

Banks were also ordered to identify and close down all accounts involved in the transfer or exchange of cryptocurrencies.

“The bank hereby wishes to remind regulated financial institutions that dealing with cryptocurrencies or facilitating payments for cryptocurrency exchanges is prohibited,” the CBN said in a statement.

Still, about $400 million worth of cryptocurrencies have been traded in Nigeria in 2021, Statista, a global market data tracker, said. The volume of trading places it behind only the United States and Russia in the world.

Despite the government’s action, many young Nigerians found alternative ways of buying and selling cryptocurrencies as the country’s currency, the naira, continues to slide against the dollar.

“It is no secret that the current global economic environment is worrisome and unsustainable,” Okung wrote in the oped. “Sadly, the fate of the Nigerian economy is in the hands of global central bankers who do not represent the best interests of the Nigerian people. Despite the challenges we face, the resilience of Nigerians continues to inspire.”

Okung insisted that it is “urgent” for Nigeria to act and that the country has a “limited window”. He pointed to the finite supply of the digital currency as one of its main attractions.

He claimed that Iran, Russia, China and Kenya are already “mining or otherwise utilising bitcoin,” partly as a means of circumventing the United States sanctions which prevent them from full participation in the global financial system.

https://m.guardian.ng/news/nigerians-will-lead-bitcoin-says-twitter-ceo-jack-dorsey/

Makes sense 

[Flexacon]

[polychronopolous]

Bitcoin is like that fighter who takes punch after punch and continues to move forward.

In fact, it's opponent could pull out a 38(pistol) from his waistband and shoot center mast and Bitcoin would probably crouch forward and wince a little bit but ultimately would stand back up and continue ahead.

[IroNat]

Well you must have noticed when bitcoin hit the shitter and you came into the thread to troll all the bitcoin fanboys were as silent as church mouse.

I was the one calling you out.

Bitcoin has a mini rally and now the fanboys are back feeling like champions. Some of them clowns like poly act like borderline cultists. Gib, seems like a nice guy, but he gave himself up on here a few years. Bitcoin looked dead and he pretty much owned up to acting the part of a shill.

Yep, most of the bitcoin fanboys will get sheared like sheep.

It's the natural order. 

The mental aspect of successful investing or in this case speculating is extremely important.

[Pray_4_War]

Yep, most of the bitcoin fanboys will get sheared like sheep.

It's the natural order. 

The mental aspect of successful investing or in this case speculating is extremely important.

Yeah I know.  It's too bad I'm not as smart and sophisticated as a real investor.

[Mayday]

Bitcoin has a mini rally and now the fanboys are back feeling like champions. Some of them clowns like poly act like borderline cultists. Gib, seems like a nice guy, but he gave himself up on here a few years. Bitcoin looked dead and he pretty much owned up to acting the part of a shill.

But them Nigerians are gunna make us all rich? 😂

Top Resistance at 38.9k then nuke it like in the Aliens movie.

Twitter going apeshit with bullish fever.

[IroNat]

Yeah I know.  It's too bad I'm not as smart and sophisticated as a real investor.-

You don't have to be that smart.  It's more control of emotions combined with common sense, experience, and gut feelings.

I dont consider bitcoin or whatever variation you call it to be investing.  It's speculating.

In this case, perhaps currency speculation, like speculating in dollars or yen.

Bitcoin is supposed to be currency, right?

Investing is a long-term activity.  You invest in an education for example.

Speculating is looking for a quick score.  Nothing wrong with it as long as you understand the game.

Somebody mentioned DCAing into bitcoin every month like bitcoin was a stock index fund.  That's foolish.  Someone with no understanding of the game.

It's the Greater Fool Theory in action.  A game of hot potato.  The Quick or the Dead.

[polychronopolous]

You don't have to be that smart.  It's more control of emotions combined with common sense, experience, and gut feelings.

I dont consider bitcoin or whatever variation you call it to be investing.  It's speculating.

In this case, perhaps currency speculation, like speculating in dollars or yen.

Bitcoin is supposed to be currency, right?

Investing is a long-term activity.  You invest in an education for example.

Speculating is looking for a quick score.  Nothing wrong with it as long as you understand the game.

Somebody mentioned DCAing into bitcoin every month like bitcoin was a stock index fund.  That's foolish.  Someone with no understanding of the game.

It's the Greater Fool Theory in action.  A game of hot potato.  The Quick or the Dead.

[Flexacon]

But them Nigerians are gunna make us all rich? 😂

Top Resistance at 38.9k then nuke it like in the Aliens movie.

Twitter going apeshit with bullish fever.

Elon tweets Tesla never sold all their BTC. Stimulus cheques incoming (shout out to stimulus poster guy who has been shouting about that for months)

I can see it going even higher before dumping hard. Dump could even happen by next Friday

[Theoak*]

Somebody mentioned DCAing into bitcoin every month like bitcoin was a stock index fund.  That's foolish.  Someone with no understanding of the game.

It's the Greater Fool Theory in action.  A game of hot potato.  The Quick or the Dead.

That somebody is me, and I DCA weekly  ~ 800-1k weekly using yield platforms. Really, im earning and not cashing out. My passive stream of income doesnt go into BTC.  A fool? Time will tell....