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

[a_pupil]

Still prepared to hold it?  We need cash to pay bills, buy food, buy assets, pay for vacations, pay the mortgage on investment properties, pay for maintenance and repairs of investment properties, pay real estate attorneys, pay insurance premiums, pay taxes, pay accountants, pay property managers, etc.

BTC is not accepted for any of these, only USD.

In the US, wise and prudent investors don't keep cash just lying around doing nothing out of fear to invest it, and they certainly don't risk keeping it at home out of fear of the banking system.

What planet does gibster live in. The only services that accept bitcoin are online drug dealers and prostitutes (according to what that guy said a few pages back).

[gib]

What planet does gibster live in. The only services that accept bitcoin are online drug dealers and prostitutes (according to what that guy said a few pages back).

This is an illogical, false, and irrelevant comment, which has already been explained to you many times.

Bitcoin can be exchanged for any good or service anyone is prepared to provide in return for it. So, if you take me as an example, I will take Bitcoin for anything I may wish to sell - house, car, shares, collectable items, gold, personal training advice, financial advisory services, etc.

Second, you are confusing the concepts of a day to day medium of exchange with a store of value. For example, we don't go around buying things in gold. But if we want to use gold to purchase something, we can always exchange the gold for fiat currency and then pay with that. My Bitcoin Visa card, allows me to do this seamlessly anywhere in the world that accepts Visa.

Most 200+ fiat currencies are ONLY commonly accepted in the country of issuance. (So for example, you if you tried to use a Swiss Franc in a McDonalds in USA, they would not accept it). But you could exchange that Franc for USD at the prevailing exchange rate, and then use that. Same concept with Bitcoin (only Bitcoin is already the most globally accepted international currency, or at least right up there with the USD as being accepted globally beyond country borders). 

Further, when assessing an investment, we need to look towards the future. So, if you you believe that BTC being used as a medium of exchange is correlated to its value, then you have to make a prediction on how BTC will be used in the future. Is Bitcoin the next logical step in a globally accepted currency? Will the trends we are already seeing of an increasing number of countries formally (or informally) adopting BTC as a currency continue? Will the rapid growth of the 2nd layer Lightening Network continue. Etc.

You have now been educated. Always try to think at least one (or ideally 2) steps ahead. It will do wonders for your success and serve you well both as an investor, and in life in general...

[obsidian]

Ethereum provides the majority of stablecoin supply.

Main stablecoins using Ethereum:

Tether (USDT)
USD Coin (USDC)
Binance USD (BUSD)
Dai
TrueUSD

Mastercard and Visa are also planning to use USDC.

Correct. To my knowledge there are no stablecoins on the Bitcoin network.

https://cointelegraph.com/altcoins-for-beginners/stablecoins-101-what-are-crypto-stablecoins-and-how-do-they-work#:~:text=For%20example%2C%20Wrapped%20Bitcoin%20(WBTC,backing%20to%20ensure%20price%20stability.

A crypto-backed stablecoin can be issued to launch one asset on a different blockchain. For example, Wrapped Bitcoin (WBTC) is a stablecoin backed by Bitcoin issued on the Ethereum blockchain.

[obsidian]

Collapse to where?

Has Mr Anabolic taken over your account?

This is the YOLO I warned about.

Everyone gunna think they are front running the Fed  then the realisation will hit down the road that providing bank liquidity is not the same as $3,000/mth child rebates……

Since when does providing liquidity for treasuries= people are buying new iPads and TVs?

Deflationary event before inflationary policy. Where is the deflationary event? We haven’t had one so why are people salivating and calling for a rocket ship to the moon?

What if that does happen? I personally don't trade. I just obtain cryptos and HODL. It is very hard to time the market. You might be sitting on the sidelines and see the prices go up...

[Mayday]

What if that does happen? I personally don't trade. I just obtain cryptos and HODL. It is very hard to time the market. You might be sitting on the sidelines and see the prices go up...

The majority are waiting for 13k, On the sidelines in cash. At 20k it was next stop 13k. At 23k it was next stop 13k. At 25k was next stop 13k. At 28k it is next stop 13k…..

A pullback to 24-26k is no problem. A run above 27k will be a problem for sidelined cash because we will run for 36k and at that point those people calling for 13k you are likely shitting themselves. That then becomes the YOLO.

I do think it’s a short lived rally BTW because crypto is trying to front run QE stimmy cheques way too early.

[dunkin donuts]

so, what's getbig's bitcoin forecast? is it heading to 50k sooner than 10k?

[IroNat]

Warren Buffett believes crypto 'will come to a very bad ending'

https://finance.yahoo.com/news/come-bad-ending-just-over-120000862.html

“If you ... owned all of the bitcoin in the world and you offered it to me for $25, I wouldn’t take it,” Warren Buffett told CNBC earlier this year.

“They don't reproduce, they can't mail you a check, they can't do anything, and what you hope is that somebody else comes along and pays you more money for them later on, but then that person's got the problem.”

Though Bitcoin is intended to provide real value as a payment system, that use is still pretty limited. As Buffett sees it, Bitcoin’s value comes from the optimism that someone else will be willing to pay more for it in the future than you’re paying today.

Called the "greater fool theory".

Find a bigger fool than yourself to buy your bitcoin for more than you paid for it.

It's been done with various things over the years including tulips.

[gib]

It's been done with various things over the years including tulips.

...and gold. Only Bitcoin of course has properties far superior to gold...

[affeman]

...and gold. Only Bitcoin of course has properties far superior to gold...

Like what? lol

[Flexacon]

Like what? lol

You get to feel what it's like to be in a cult

[Griffith]

so, what's getbig's bitcoin forecast? is it heading to 50k sooner than 10k?

24-25k next, then over 30k.

[affeman]

You get to feel what it's like to be in a cult

 

[ROBOAK]

Warren Buffett believes crypto 'will come to a very bad ending'

https://finance.yahoo.com/news/come-bad-ending-just-over-120000862.html

“If you ... owned all of the bitcoin in the world and you offered it to me for $25, I wouldn’t take it,” Warren Buffett told CNBC earlier this year.

“They don't reproduce, they can't mail you a check, they can't do anything, and what you hope is that somebody else comes along and pays you more money for them later on, but then that person's got the problem.”

Though Bitcoin is intended to provide real value as a payment system, that use is still pretty limited. As Buffett sees it, Bitcoin’s value comes from the optimism that someone else will be willing to pay more for it in the future than you’re paying today.

Called the "greater fool theory".

Find a bigger fool than yourself to buy your bitcoin for more than you paid for it.

It's been done with various things over the years including tulips.

WB shits on bitcoin only because its a threat to him, just like keystone....

[gib]

Like what? lol

It should be very obvious how Bitcoin is superior to gold (both as a store of value and as a medium of exchange).

The supply of Bitcoin is 100% certain. (Gold is not).
Bitcoin can be transferred globally in seconds (Gold cannot).
Gold has huge storage costs for the owner (Bitcoin does not).
Bitcoin can be divided into any transaction amount by any owner in seconds. (Gold cannot).
Gold can be confisicated at borders (Bitcoin cannot).
Gold is heavy, Very heavy is you try to carry a lot of it. (Bitcoin is not).
Gold is hard to hide if you have a lot of it. (Bitcoin is not).
Bitcoin can be used over the internet in digital transactions. (Gold cannot).
Bitcoin is integrating with the electronic banking and financial system, (Gold is not).
Bitcoin is increasingly being adopted and recognized as a currency among countries. (Gold is not).

That is not to say that gold is not a useful tool in being a store of value. Its just that Bitcoin is vastly superior on many of gold's shortcomings.

[Flexacon]

so, what's getbig's bitcoin forecast? is it heading to 50k sooner than 10k?

Don't have a price forecast, but I got DXY lows for the year in mid/late April, stocks markets peaking in May and tech earnings then crashing everything. I would expect for the most part that BTC will follow. So bitcoin mini cycle top in May followed by a June low

[obsidian]

Warren Buffett believes crypto 'will come to a very bad ending'

https://finance.yahoo.com/news/come-bad-ending-just-over-120000862.html

“If you ... owned all of the bitcoin in the world and you offered it to me for $25, I wouldn’t take it,” Warren Buffett told CNBC earlier this year.

“They don't reproduce, they can't mail you a check, they can't do anything, and what you hope is that somebody else comes along and pays you more money for them later on, but then that person's got the problem.”

Though Bitcoin is intended to provide real value as a payment system, that use is still pretty limited. As Buffett sees it, Bitcoin’s value comes from the optimism that someone else will be willing to pay more for it in the future than you’re paying today.

Called the "greater fool theory".

Find a bigger fool than yourself to buy your bitcoin for more than you paid for it.

It's been done with various things over the years including tulips.

What Buffett forgets is there are many BTC holders that will never offer Bitcoin to him for $25. They simply won't sell. Does he not understand the basics of how these assets are priced?

[obsidian]

Warren Buffett believes crypto 'will come to a very bad ending'

https://finance.yahoo.com/news/come-bad-ending-just-over-120000862.html

“If you ... owned all of the bitcoin in the world and you offered it to me for $25, I wouldn’t take it,” Warren Buffett told CNBC earlier this year.

“They don't reproduce, they can't mail you a check, they can't do anything, and what you hope is that somebody else comes along and pays you more money for them later on, but then that person's got the problem.”

Though Bitcoin is intended to provide real value as a payment system, that use is still pretty limited. As Buffett sees it, Bitcoin’s value comes from the optimism that someone else will be willing to pay more for it in the future than you’re paying today.

Called the "greater fool theory".

Find a bigger fool than yourself to buy your bitcoin for more than you paid for it.

It's been done with various things over the years including tulips.

Buffett made his money precisely because he bought stocks based on optimism that someone else will be paying more for it in the future than he paid for it when he acquire the stock. He is a fucking hypocrite.

[Mayday]

You get to feel what it's like to be in a cult

CEO of Bitcoin himself.

[gib]

Warren Buffett believes crypto 'will come to a very bad ending'

https://finance.yahoo.com/news/come-bad-ending-just-over-120000862.html

“If you ... owned all of the bitcoin in the world and you offered it to me for $25, I wouldn’t take it,” Warren Buffett told CNBC earlier this year.

“They don't reproduce, they can't mail you a check, they can't do anything, and what you hope is that somebody else comes along and pays you more money for them later on, but then that person's got the problem.”

Though Bitcoin is intended to provide real value as a payment system, that use is still pretty limited. As Buffett sees it, Bitcoin’s value comes from the optimism that someone else will be willing to pay more for it in the future than you’re paying today.

Called the "greater fool theory".

Find a bigger fool than yourself to buy your bitcoin for more than you paid for it.

It's been done with various things over the years including tulips.

WB calls it the "greater fool theory". A better phrase might be the "more enlightened theory". In other words, the more other people "get it" and understand the utility of Bitcoin, the more Bitcoin (perfectly limited in demand) will be desired, and the more its price will rise.

So, what any investor will need to figure out is simple. Over time, will we see more enlightened people, who start to understand and desire Bitcoin? Or less such people. Once you have a view on that, you can decide whether to invest or not.

[Flexacon]

WB calls it the "greater fool theory". A better phrase might be the "more enlightened theory". In other words, the more other people "get it" and understand the utility of Bitcoin, the more Bitcoin (perfectly limited in demand) will be desired, and the more its price will rise.

So, what any investor will need to figure out is simple. Over time, will we see more enlightened people, who start to understand and desire Bitcoin? Or less such people. Once you have a view on that, you can decide whether to invest or not.

It's not gonna replace anything or change the world, that's just a maxi narrative. It's just gonna be another tool used in finance. You'll have various players in finance buying (through etfs) when they want to go super risk on and it will be the first thing they'll dump when they smell any trouble. No different really from what's been happening for a while.

Anyway a bunch of institutions are buying BTC big right now (US government is also selling silk rd BTC) but they don't plan on holding for long. The face ripper both up and then down should be fun. I'm on Link.

[gib]

It's not gonna replace anything or change the world, that's just a maxi narrative. It's just gonna be another tool used in finance. You'll have various players in finance buying (through etfs) when they want to go super risk on and it will be the first thing they'll dump when they smell any trouble. No different really from what's been happening for a while.

Anyway a bunch of institutions are buying BTC big right now (US government is also selling silk rd BTC) but they don't plan on holding for long. The face ripper both up and then down should be fun. I'm on Link.

It already (obviously) is replacing various other stores of value. BTC also ROSE during each incident of banking risk, so it can clearly function as a RISK OFF asset during times of crisis.

Any sharp downward movement is of course fun and welcomed by anyone looking to acquire BTC for the long term.

[dunkin donuts]

BTC is like gold in the sense that both are potentially worthless. Gold seems much harder to sell at the right time though

[Flexacon]

It already (obviously) is replacing various other stores of value. BTC also ROSE during each incident of banking risk, so it can clearly function as a RISK OFF asset during times of crisis.

Any sharp downward movement is of course fun and welcomed by anyone looking to acquire BTC for the long term.

No the price of bitcoin went DOWN on news of SVB/banking risks. Btc was actually heading for a crash, but news of the emergency liquidity backstop caused price to rise again as the really smart ones knew straight away it was RISK ON time again. The not so smart ones started buying later as they thought it was QE time again.

Once the backstop was announced any banking risk was contained. From there on only bank shareholders could get hurt. It's been RISK ON ever since (but it won't be for long) You knew all this already though.

[affeman]

It should be very obvious how Bitcoin is superior to gold (both as a store of value and as a medium of exchange).

The supply of Bitcoin is 100% certain. (Gold is not). Yeah but BTC is nothing so the supply of nothing is 100% certain
Bitcoin can be transferred globally in seconds (Gold cannot). But you're transferring nothing
Gold has huge storage costs for the owner (Bitcoin does not). But with BTC you're storing nothing so of course it doesn't have huge storage costs
Bitcoin can be divided into any transaction amount by any owner in seconds. (Gold cannot). Sure it can be divided, but you're dividing nothing so who f*ing cares? lol
Gold can be confisicated at borders (Bitcoin cannot). BTC obviously can't be confiscated cause you can't confiscate nothing
Gold is heavy, Very heavy is you try to carry a lot of it. (Bitcoin is not). BTC is nothing so obviously it's not that heavy lol
Gold is hard to hide if you have a lot of it. (Bitcoin is not). BTC is nothing so it's easy to hide, I give you that
Bitcoin can be used over the internet in digital transactions. (Gold cannot). Yeah, but you're using nothing so who cares?
Bitcoin is integrating with the electronic banking and financial system, (Gold is not). Is it? In El Salvador maybe...lol
Bitcoin is increasingly being adopted and recognized as a currency among countries. (Gold is not). Is it? In El Salvador maybe...lol

That is not to say that gold is not a useful tool in being a store of value. Its just that Bitcoin is vastly superior on many of gold's shortcomings.

Hope this helps

[IroNat]

I see no problem with taking a position in crypto.

Since it is high risk you should keep a small position relative to your more traditional investments.