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

[SOMEPARTS]

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.

2025 is an eternity from now with this horse already in line for the tech glue factory.

The outflow in crypto when real economics start to show weakness will be breathtaking.

[polychronopolous]

So bitcoin is a Marvel superhero?

I never was a big comic book reader but the closest comparison I could make would be like Wolverine

[gib]

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.

Lol, will not sure that I entirely agree with that. But yes, I was bullish on BTC last cycle. When you own BTC, you are incentivized to ensure others adopt it, become aware of it, and ideally purchase some of it. And yes I did sell at around the 15K mark suring that last cycle. Not because I didn't believe in BTC's long term potential, but because the rate of the increase seemed too sharp in the short term.

This time around, I plan to HODL long term, and I believe 2025 will be another stellar year, regardless at what happens in between. Having said  that, if I saw obvious signs of a manic sort term bubble, who knows, at a certain point I would need to reconsider my HODL. So, for example, eg BTC goes in a gradual rise to 500K over the next 5 years, I would likely HODL. If it got to 400K by the end of this year on the other hand, I might be tempted to sell, even though my long term outlook remains.

[gib]

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.

I agree with most of this, but I would say that "speculating" can be both a long term or a short term activity. Its quite feasible to take a long term view on BTC, with the speculation being that in the long term it will gain significant value and adoption, regardless of short term sentiment shifts along the way...

[Mayday]

Muh short position at 38.9k……..

[gib]

US markets awakening. Will be interesting to see how things play out today as they get into the action...

[Mayday]

US markets awakening. Will be interesting to see how things play out today as they get into the action...

[Flexacon]

Muh short position at 38.9k……..

I'm starting to lean towards this being a bear market now too as I'm struggling to see where the money will come from to reach another ATH so soon. This looks more like a wait and see for me now

I've long believed that hidden institutional money caused this years pumps and they must have been involved in sell off that caused the crash. I figured they would eventually buy back in big, but I'm not so sure now.

I've come across this.

Hedge funds could basically park their money in crypto  as it was accepted as liquidity on their balance books. They could also collect some really nice gains by staking. May 4th this all changed. It looks like since that date crypto holdings were considered an asset. Coincidence a big crash followed shortly after that? For now I don't believe institutions have the same incentives to buy back in (I have some other nice confirmation bias, but it's pretty boring)

https://www.dtcc.com/-/media/Files/Downloads/legal/rule-filings/2021/NSCC/SR-NSCC-2021-802-Approval-Notice.pdf

[SOMEPARTS]

This guy, hahaha....making billions per tweet.


"Bitcoin’s price surged after Tesla CEO Elon Musk said Sunday the electric vehicle maker could accept bitcoin transactions again in future."

"Musk said Sunday that Tesla will resume allowing bitcoin transactions “when there’s confirmation of reasonable (~50%) clean energy usage by miners with positive future trend.” 


https://www.cnbc.com/2021/06/14/bitcoin-btc-soars-after-musk-says-tesla-could-accept-the-crypto-again.html

[Griffith]

Volume is still quite low.

[a_pupil]

This guy, hahaha....making billions per tweet.


"Bitcoin’s price surged after Tesla CEO Elon Musk said Sunday the electric vehicle maker could accept bitcoin transactions again in future."

"Musk said Sunday that Tesla will resume allowing bitcoin transactions “when there’s confirmation of reasonable (~50%) clean energy usage by miners with positive future trend.” 


https://www.cnbc.com/2021/06/14/bitcoin-btc-soars-after-musk-says-tesla-could-accept-the-crypto-again.html

Crypto is a meme right now. LARPing "investors" getting cucked by turbo incels like elon musk.

[IroNat]

This guy, hahaha....making billions per tweet.


"Bitcoin’s price surged after Tesla CEO Elon Musk said Sunday the electric vehicle maker could accept bitcoin transactions again in future."

"Musk said Sunday that Tesla will resume allowing bitcoin transactions “when there’s confirmation of reasonable (~50%) clean energy usage by miners with positive future trend.” 


https://www.cnbc.com/2021/06/14/bitcoin-btc-soars-after-musk-says-tesla-could-accept-the-crypto-again.html

Meanwhile he's shooting off rockets that fill the atmosphere with carcinogenic pollutants because he cares about the human race.

[Flexacon]

Elon has given us some lolz, but are people still falling for it? He's tweets aren't what's causing a $trillion to crash out of the market, he is just a distraction. This cycles version of John McAfee.

[Flexacon]

2025 is an eternity from now with this horse already in line for the tech glue factory.

The outflow in crypto when real economics start to show weakness will be breathtaking.

This is a really great point. The evidence from March 2020 points to crypto being a huge liability in an economic meltdown.

Although there doesn't seem to be much in the way of a safe haven right now. You know things are pretty bad when Buffett buys Apple stock as a safe place to keep his money.

[OneMoreRep]

This is a really great point. The evidence from March 2020 points to crypto being a huge liability in an economic meltdown.

Although there doesn't seem to be much in the way of a safe haven right now. You know things are pretty bad when Buffett buys Apple stock as a safe place to keep his money.

I still think Real Estate (properties but also including land assets) is the safest haven. It's the best hedge against inflation and economic collapse, as people still need a place to live and there is a finite supply of land available to build/inhabit in.

Crypto has a world of potential, but we might not yet be in that world. It could very well take a total collapse of the US Economic system (looking to have a high potential at this point) to set the stage for a decentralized form of currency that can connect the "unheard" masses and get the greedy hands of the central banks out of the finances of the average person and business.

"1"

[Flexacon]

I still think Real Estate (properties but also including land assets) is the safest haven. It's the best hedge against inflation and economic collapse, as people still need a place to live and there is a finite supply of land available to build/inhabit in.

Crypto has a world of potential, but we might not yet be in that world. It could very well take a total collapse of the US Economic system (looking to have a high potential at this point) to set the stage for a decentralized form of currency that can connect the "unheard" masses and get the greedy hands of the central banks out of the finances of the average person and business.

"1"

If you're buying  real estate at the current prices, you're pretty much having to pay a premium for it, so is it really a safe haven against inflation? You're basically buying with an element of inflation built into the price and it could still end up going against you. Having said that there doesn't look to be too many better options.

I'm actually going to go look at an apartment in a high rise residential block tomorrow. Those types of properties took a hit in price and demand dropped because of lockdowns. At least I'll be buying something that has at some point had a higher valuation.

[Theoak*]

This will probably be the last time to sell as high as ~$40k. Great permanent exit point if you missed exiting above $40k. Deposit to a safe low interest savings account and you'll exceed the future performance of btc by a lot.

[OneMoreRep]

If you're buying  real estate at the current prices, you're pretty much having to pay a premium for it, so is it really a safe haven against inflation? You're basically buying with an element of inflation built into the price and it could still end up going against you. Having said that there doesn't look to be too many better options.

I'm actually going to go look at an apartment in a high rise residential block tomorrow. Those types of properties took a hit in price and demand dropped because of lockdowns. At least I'll be buying something that has at some point had a higher valuation.

These current prices are inflationary. No way would I buy or recommend anyone else buy real estate at this point. Inflation is very real, as you know. I've been Paul Revere'ing it for the better part of a year in stating that inflation is coming. Now that hard assets (real estate, stock market, gas/oil) have clearly experienced it over the last 6+ months, consumers are slowly starting to feel it via the CPI increases we are seeing on a monthly basis.

To answer your second question..."is it really a hedge against inflation? Absolutely, especially for people like myself who have held real estate for years, the increase in asset value has allowed for pulling out money (HELOC) to buy even more properties (expand wealth) and increase rents as well....WIN/WIN. I've been using other people's money to expand my real estate assets, collecting premium rents and keeping them tax free via depreciation. Literally, I make money while I sleep and none of it gets taxed.

Good for you on looking into the new apartment. Depending on the city, it can rise exponentially in value over time.

"1"

[polychronopolous]

Land grab.

21 million will only ever be produced.

MicroStrategy completes $500 million offering, plans to buy more Bitcoin

Software company MicroStrategy has today completed its $500 million offering of secured notes, according to a statement. The company said it plans to use the proceeds, which it estimates at $488 million — after discounts, comissions and expenses — to buy more bitcoin.

The offering was of secured notes due 2028 that bear interest at an annual rate of 6.125%.

The company already holds 92,079 bitcoin, which is under the purview of its newly formed subsidiary MacroStrategy. The price of bitcoin is currently $40,700, suggesting that MicroStrategy will be able to buy around 11,990 more bitcoin, taking it well above the 100,000 mark.

MicroStrategy announced this latest offering on June 7, initially planning to raise $400 million before it was upped to $500 million. According to reports, the company had more than $1.6 billion worth of orders for the notes, "including interest from a large number of hedge funds."

https://www.theblockcrypto.com/linked/108334/microstrategy-completes-500-million-offering-plans-to-buy-more-bitcoin

[Mayday]

This will probably be the last time to sell as high as ~$40k. Great permanent exit point if you missed exiting above $40k. Deposit to a safe low interest savings account and you'll exceed the future performance of btc by a lot.

You can almost fold this in half and be symmetrical.

42k was the first entry point on the way up.

We are looking to 42k now as the last exit point.

Twitter at euphoric stage today basically saying 47k is in the bag. Meanwhile there is risk around interest rate announcement on Wednesday.

[Flexacon]

Microstragy and  Michael Saylor throwing throwing money at bitcoin doesn't necessarily fill me with confidence.

Most of his recent plays have been him buying at the top of the market .

[Flexacon]

These current prices are inflationary. No way would I buy or recommend anyone else buy real estate at this point. Inflation is very real, as you know. I've been Paul Revere'ing it for the better part of a year in stating that inflation is coming. Now that hard assets (real estate, stock market, gas/oil) have clearly experienced it over the last 6+ months, consumers are slowly starting to feel it via the CPI increases we are seeing on a monthly basis.

To answer your second question..."is it really a hedge against inflation? Absolutely, especially for people like myself who have held real estate for years, the increase in asset value has allowed for pulling out money (HELOC) to buy even more properties (expand wealth) and increase rents as well....WIN/WIN. I've been using other people's money to expand my real estate assets, collecting premium rents and keeping them tax free via depreciation. Literally, I make money while I sleep and none of it gets taxed.

Good for you on looking into the new apartment. Depending on the city, it can rise exponentially in value over time.

"1"

Thanks for the reply.

It's in London. We've had our exponential price rises between 2010 to 2018. I don't see a Singapore type situation where prices can continue climbing. Just looking to keep money safe and collect a guaranteed rent.

[gib]

Land grab.

21 million will only ever be produced.

MicroStrategy completes $500 million offering, plans to buy more Bitcoin

Software company MicroStrategy has today completed its $500 million offering of secured notes, according to a statement. The company said it plans to use the proceeds, which it estimates at $488 million — after discounts, comissions and expenses — to buy more bitcoin.

The offering was of secured notes due 2028 that bear interest at an annual rate of 6.125%.

The company already holds 92,079 bitcoin, which is under the purview of its newly formed subsidiary MacroStrategy. The price of bitcoin is currently $40,700, suggesting that MicroStrategy will be able to buy around 11,990 more bitcoin, taking it well above the 100,000 mark.

MicroStrategy announced this latest offering on June 7, initially planning to raise $400 million before it was upped to $500 million. According to reports, the company had more than $1.6 billion worth of orders for the notes, "including interest from a large number of hedge funds."

https://www.theblockcrypto.com/linked/108334/microstrategy-completes-500-million-offering-plans-to-buy-more-bitcoin

Absolutely - and we can also all do this on a micro scale as individuals, which over time collectively becomes a massive macro move...

[gib]

I still think Real Estate (properties but also including land assets) is the safest haven. It's the best hedge against inflation and economic collapse, as people still need a place to live and there is a finite supply of land available to build/inhabit in.

Crypto has a world of potential, but we might not yet be in that world. It could very well take a total collapse of the US Economic system (looking to have a high potential at this point) to set the stage for a decentralized form of currency that can connect the "unheard" masses and get the greedy hands of the central banks out of the finances of the average person and business.

"1"

Here's the downside:

-Real estate can be compulsorily acquired by the Government.
-It is not immovable and cannot be transferred across boarders.
-Huge friction in transaction costs (both to buy and sell).
-Maintenance costs ongoing.
-Requires ongoing effort if renting it to earn a yield.
-Can be heavily taxed (both on acquisition, on an ongoing basis, and massively via capital gains tax on any sale).
-For most people is leveraged, and value is thus highly influenced via interest rates. (This can be both a positive of a negative).
-Virtually unlimited supply can be produced in most countries, unless a very small place like HK or Singapore or Monaco (via more apartments that can be built upwards on plots of land).

[El Diablo Blanco]

Is it possible for a hacker to just wipe out Bitcoin? Seriously.