Author Topic: Bitcoins - about to hit $5,000 per coin today!  (Read 892344 times)

DooM_

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Re: Bitcoins - about to hit $5,000 per coin today!
« Reply #4275 on: January 15, 2021, 03:10:12 PM »
Bitcoin bubble will pop sooner or later

Anatoly Aksakov, a member of the Russian State Duma, has reiterated his negative stance on Bitcoin (BTC) shortly after the cryptocurrency briefly retouched $40,000 on Jan. 14.

“Bitcoin is not backed by anything as a cryptocurrency. This is a private currency, and its value is based on trust of the related data system. In this context Bitcoin provides a basis for a bubble on the crypto market, and I think this bubble should burst sooner or later.”

Aksakov also urged for strict regulations on Bitcoin, hinting that global jurisdictions should probably ban it as a payment method.

Russia has already banned crypto-powered payments effective from Jan. 1, 2021.

Aksakov stated, “It is necessary to cut off all channels for using Bitcoin to finance drug trafficking, terrorist operations, money laundering, corruption schemes, and so on.”

Aksakov is not alone in maintaining that Bitcoin is a bubble. Michael Hartnett, chief investment strategist at Bank of America Securities, argued that Bitcoin looks like “the mother of all bubbles” in early January 2021.

Following Bitcoin’s massive rally driving its price to as high as $42,000 in January, a number of global authorities have expressed criticism of the world’s largest cryptocurrency.[/b] European Central Bank President Christine Lagarde argued on Jan. 13 that Bitcoin is a “highly speculative asset” and a “funny business” contributing to money laundering.


https://cointelegraph.com/news/bitcoin-bubble-will-pop-sooner-or-later-says-famous-russian-btc-critic

Bindare_Dundat

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Re: Bitcoins - about to hit $5,000 per coin today!
« Reply #4276 on: January 15, 2021, 03:16:13 PM »
what do you think it will drop to . . . ?

A drop to 30,000 would probably see bitcoin go back down to 20,000's quickly. But I dont think we will  see a dip below that, (20,000) in a long, long, long time  (maybe never) At least I hope. lol

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Re: Bitcoins - about to hit $5,000 per coin today!
« Reply #4277 on: January 15, 2021, 03:18:44 PM »
Bitcoin bubble will pop sooner or later

Anatoly Aksakov, a member of the Russian State Duma, has reiterated his negative stance on Bitcoin (BTC) shortly after the cryptocurrency briefly retouched $40,000 on Jan. 14.

“Bitcoin is not backed by anything as a cryptocurrency. This is a private currency, and its value is based on trust of the related data system. In this context Bitcoin provides a basis for a bubble on the crypto market, and I think this bubble should burst sooner or later.”

Aksakov also urged for strict regulations on Bitcoin, hinting that global jurisdictions should probably ban it as a payment method.

Russia has already banned crypto-powered payments effective from Jan. 1, 2021.

Aksakov stated, “It is necessary to cut off all channels for using Bitcoin to finance drug trafficking, terrorist operations, money laundering, corruption schemes, and so on.”

Aksakov is not alone in maintaining that Bitcoin is a bubble. Michael Hartnett, chief investment strategist at Bank of America Securities, argued that Bitcoin looks like “the mother of all bubbles” in early January 2021.

Following Bitcoin’s massive rally driving its price to as high as $42,000 in January, a number of global authorities have expressed criticism of the world’s largest cryptocurrency.[/b] European Central Bank President Christine Lagarde argued on Jan. 13 that Bitcoin is a “highly speculative asset” and a “funny business” contributing to money laundering.


https://cointelegraph.com/news/bitcoin-bubble-will-pop-sooner-or-later-says-famous-russian-btc-critic

Cause fiat money doesnt fund illegal activities?

Army of One

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Re: Bitcoins - about to hit $5,000 per coin today!
« Reply #4278 on: January 15, 2021, 04:25:23 PM »
Don’t forget to show the other side of that chart........


The other side of the chart where it dropped to 3500 dollars but now is 35000+ dollars?again zoom out and dont get emotional.Nothing matters unless you sell.

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Re: Bitcoins - about to hit $5,000 per coin today!
« Reply #4279 on: January 15, 2021, 06:09:48 PM »


The drop you saw isn’t ‘the drop’. The proper crash just started yesterday ;)

this is an extremely radical view of the situation, normally you're not far off the money but guess we'll see how this plays out in the next 0-15 days ...

Mayday

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Re: Bitcoins - about to hit $5,000 per coin today!
« Reply #4280 on: January 15, 2021, 10:38:12 PM »
this is an extremely radical view of the situation, normally you're not far off the money but guess we'll see how this plays out in the next 0-15 days ...

Cheers for the compliment.

It’s only brief, don’t worry. It goes well past 40k on it’s next ramp.

What we saw was the hype train full steam ahead hit 40k. It rolled back 18% in 4 days scaring the living shit out of everybody.

 It gathered enough troops to give it a second shot. Rallied to 40k and stumbled again. Now the troops are Real scared and running away harder than the first time. It’s already tapped 34k which means the 37k resistance didn’t holdup. I’d expect it to blow through to low 30s and hang out there for a bit and then dip into the 20s briefly before rallying hard.

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Re: Bitcoins - about to hit $5,000 per coin today!
« Reply #4281 on: January 16, 2021, 01:02:38 AM »
Cheers for the compliment.

It’s only brief, don’t worry. It goes well past 40k on it’s next ramp.

What we saw was the hype train full steam ahead hit 40k. It rolled back 18% in 4 days scaring the living shit out of everybody.

 It gathered enough troops to give it a second shot. Rallied to 40k and stumbled again. Now the troops are Real scared and running away harder than the first time. It’s already tapped 34k which means the 37k resistance didn’t holdup. I’d expect it to blow through to low 30s and hang out there for a bit and then dip into the 20s briefly before rallying hard.
Appreciate your posts as well 

I took profit at the time I called for a pull back a few posts back. Still hanging to.my ethereum but I agree with you.
I think if you haven't gotten into bitcoin yet, you actually might do better with ethereum for a period of time. I'm roughly 70/30 btc/eth and its been holding well as of this post. Could change on a dime. Lol

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Re: Bitcoins - about to hit $5,000 per coin today!
« Reply #4282 on: January 16, 2021, 02:14:02 AM »
Appreciate your posts as well 
I think if you haven't gotten into bitcoin yet, you actually might do better with ethereum for a period of time. I'm roughly 70/30 btc/eth and its been holding well as of this post. Could change on a dime. Lol

I’m not holding anything right now.

I am entering 100% ETH in my next move. Just waiting for the current situation to settle down.

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Re: Bitcoins - about to hit $5,000 per coin today!
« Reply #4283 on: January 16, 2021, 02:41:59 AM »
I’m not holding anything right now.

I am entering 100% ETH in my next move. Just waiting for the current situation to settle down.

Yes, I remember from one of your previous posts.
Just thought it might be a good idea to let anyone on the fence now, to maybe start consideing going in as its much more affordable to most with greater returns.

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Re: Bitcoins - about to hit $5,000 per coin today!
« Reply #4284 on: January 16, 2021, 04:50:41 AM »
I’m not holding anything right now.

I am entering 100% ETH in my next move. Just waiting for the current situation to settle down.

I'm considering Ethereum as well.

How much of a dip do you think we will see?

At the moment it's about $ 1200.

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Re: Bitcoins - about to hit $5,000 per coin today!
« Reply #4285 on: January 16, 2021, 06:07:26 AM »
I'm considering Ethereum as well.

How much of a dip do you think we will see?

At the moment it's about $ 1200.

No one can predict this with accuracy. Its an educated guess by following certain trends/cycles/fundamentals, etc....if you're in long term, don't worry about any of this, just buy and hold. But you need to make these decisions on your own and I wouldn't put all my faith into anyones predictions. You'll end up wrecked that way. Be prepared mentally our you'll be pulling money in and out chasing numbers going up and down wildly. I'm prepared to see things drop 40 percent, others aren't.

Mayday has a better understanding of these things but even  though holding long won't make you the most money, it'll still be advantages to do so imo. Apologies  if this is redundant to you.

Id like to hear Mayday or anyone else's thoughts on this though, I don't want my opinion screwing over anyone.

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Re: Bitcoins - about to hit $5,000 per coin today!
« Reply #4286 on: January 16, 2021, 06:11:36 AM »
No one can predict this with accuracy. Its an educated guess by following certain trends/cycles/fundamentals, etc....if you're in long term, don't worry about any of this, just buy and hold. But you need to make these decisions on your own and I wouldn't put all my faith into anyones predictions. You'll end up wrecked that way. Be prepared mentally our you'll be pulling money in and out chasing numbers going up and down wildly. I'm prepared to see things drop 40 percent, others aren't.

Mayday has a better understanding of these things but even holding long won't make you the most money, it'll still be advantages to do so imo.

Id like to hear Mayday or anyone else's thoughts on this though

I will be buying ETH either way, and holding long-term, just interested in hearing others opinions as well, including any forecasts.

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Re: Bitcoins - about to hit $5,000 per coin today!
« Reply #4287 on: January 16, 2021, 06:14:16 AM »
I’m waiting for Melvin who works for Verizon and has a house on wheels to tell me how to invest

Until then I await and watch wrastin videos

Bindare_Dundat

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Re: Bitcoins - about to hit $5,000 per coin today!
« Reply #4288 on: January 16, 2021, 06:24:42 AM »
I’m waiting for Melvin who works for Verizon and has a house on wheels to tell me how to invest

Until then I await and watch wrastin videos

Hes been quite since Armyof Ones post.

polychronopolous

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Re: Bitcoins - about to hit $5,000 per coin today!
« Reply #4289 on: January 16, 2021, 06:31:14 AM »
Here come the Big Boys.

The on-ramps are continually being built.

Goldman Sachs to Enter Crypto Market ‘Soon’ With Custody Play: Source


U.S. banking powerhouse Goldman Sachs has issued a request for information (RFI) to explore digital asset custody, according to a source inside the bank.

When asked about timing, the Goldman source said the bank’s custody plans would be “evident soon.”

Goldman’s digital asset custody RFI was circulated to at least one well-known crypto custody player toward the end of 2020.

 “Like JPMorgan, we have issued an RFI looking at digital custody. We are broadly exploring digital custody and deciding what the next step is,” said the Goldman source, who asked not to be named. (An RFI on crypto custody was issued by JPMorgan in October 2020, as reported by The Block.)

The Goldman insider said the bank’s digital assets initiative was “part of a broad digital strategy,” citing stablecoins in relation to recent missives from the U.S. Office of the Comptroller of the Currency (OCC).

A tectonic shift took place in the world of crypto custody this week, as San Francisco-based Anchorage attained conditional approval from the OCC to become a national digital bank and “unequivocally” meet the definition of “qualified custodian” in the process.

Anchorage President Diogo Mónica said in an interview this regulatory approval will invite many large and risk-averse institutional players into crypto.

When asked about JPMorgan, Goldman and Citi – the three big U.S. banks most are watching in relation to crypto custody – Mónica said: “We are talking to all these guys.”

There has been chatter about Goldman perhaps offering something akin to prime brokerage services involving crypto. However, the Goldman insider said the bank is looking at custody but not prime brokerage.

“Anchorage, BitGo and Coinbase have quite grand plans in crypto prime brokerage and we would not be looking to duplicate those,” said the Goldman source.



 https://finance.yahoo.com/news/goldman-sachs-enter-crypto-market-214659079.html

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Re: Bitcoins - about to hit $5,000 per coin today!
« Reply #4290 on: January 16, 2021, 06:54:10 AM »
Yahoo confirmed!!’

Bindare_Dundat

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Re: Bitcoins - about to hit $5,000 per coin today!
« Reply #4291 on: January 16, 2021, 07:03:01 AM »


Yup

Here come the Big Boys.

The on-ramps are continually being built.

Goldman Sachs to Enter Crypto Market ‘Soon’ With Custody Play: Source


U.S. banking powerhouse Goldman Sachs has issued a request for information (RFI) to explore digital asset custody, according to a source inside the bank.

When asked about timing, the Goldman source said the bank’s custody plans would be “evident soon.”

Goldman’s digital asset custody RFI was circulated to at least one well-known crypto custody player toward the end of 2020.

 “Like JPMorgan, we have issued an RFI looking at digital custody. We are broadly exploring digital custody and deciding what the next step is,” said the Goldman source, who asked not to be named. (An RFI on crypto custody was issued by JPMorgan in October 2020, as reported by The Block.)

The Goldman insider said the bank’s digital assets initiative was “part of a broad digital strategy,” citing stablecoins in relation to recent missives from the U.S. Office of the Comptroller of the Currency (OCC).

A tectonic shift took place in the world of crypto custody this week, as San Francisco-based Anchorage attained conditional approval from the OCC to become a national digital bank and “unequivocally” meet the definition of “qualified custodian” in the process.

Anchorage President Diogo Mónica said in an interview this regulatory approval will invite many large and risk-averse institutional players into crypto.

When asked about JPMorgan, Goldman and Citi – the three big U.S. banks most are watching in relation to crypto custody – Mónica said: “We are talking to all these guys.”

There has been chatter about Goldman perhaps offering something akin to prime brokerage services involving crypto. However, the Goldman insider said the bank is looking at custody but not prime brokerage.

“Anchorage, BitGo and Coinbase have quite grand plans in crypto prime brokerage and we would not be looking to duplicate those,” said the Goldman source.



 https://finance.yahoo.com/news/goldman-sachs-enter-crypto-market-214659079.html


https://www.coindesk.com/goldman-sachs-to-enter-crypto-market-soon-with-custody-play-source

Goldman Sachs to Enter Crypto Market ‘Soon’ With Custody Play
Goldman, JPMorgan and Citi are all said to be looking at crypto custody.

U.S. banking powerhouse Goldman Sachs has issued a request for information (RFI) to explore digital asset custody, according to a source inside the bank.

When asked about timing, the Goldman source said the bank’s custody plans would be “evident soon.”

Goldman’s digital asset custody RFI was circulated to at least one well-known crypto custody player toward the end 2020.

“Like JPMorgan, we have issued an RFI looking at digital custody. We are broadly exploring digital custody and deciding what the next step is,” said the Goldman source, who asked not to be named. (An RFI on crypto custody was issued by JPMorgan in October 2020, as reported by The Block.)


Bindare_Dundat

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Re: Bitcoins - about to hit $5,000 per coin today!
« Reply #4292 on: January 16, 2021, 08:22:17 AM »
Eth, is close.

Griffith

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Re: Bitcoins - about to hit $5,000 per coin today!
« Reply #4293 on: January 16, 2021, 09:18:20 AM »

epic is back

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Re: Bitcoins - about to hit $5,000 per coin today!
« Reply #4294 on: January 16, 2021, 09:41:47 AM »
Just waiting to hear how I can make 1500 from my financial adviser on wheels to lay out the plan

OneMoreRep

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Re: Bitcoins - about to hit $5,000 per coin today!
« Reply #4295 on: January 16, 2021, 10:09:43 AM »
I'm sorry gentlemen, but this shit seems like a disaster.

Bitcoin is a highly speculative asset. It has created a bubble inflated by fear, speculation and hopes of a viable hedge against inflation + or even the possible collapse of the US dollar.

Here are some scenarios which could lead to a drastic drop in the value of BTC:

  • The European Central Bank's president, Christine Lagarde, has called for greater regulation of BTC. If the European governments decide to squeeze BTC, it can lead to it's downfall. Not to mention that once Biden comfortable in the White House, he will most likely start to do the same and demand more regulation towards BTC.
  • On Thursday, January 12, 2021, Federal Reserve chairman Jerome Powell stressed the fact that the creation of central bank digital currencies (CBDCs) is a very high priority. In other words, the US Federal Reserve Bank is already working on this and this is essentially the epitaph on BitCoin's tombstone.
  • Why is BTC seeking for crypto custody by large US financial institutions? Playing devil's advocate, let's consider an alternate scenario as to the reason "why" BTC is looking for assumption of crypto custody by large US financial institutions. I believe BTC’s recent search for crypto custody by large US financial institutions (like Goldman Sachs, JP Morgan & CitiBank) is likely a move out of sheer desperation by BTC due to fears of likely incoming government regulation and furthermore the creation of a Federal Reserve digital currency. Remember, the Federal Reserve (which is made up of the 12 distinct Federal Reserve banks in the USA) is not owned by the US government (even though the US government/President can nominate a chairman). There are old families, which control some of the largest financial institutions here in the USA, that are behind the FED in its totality. I think it is farfetched to assume that after they (the families) built up the USA's standing as the current world superpower with the world's reserve FIAT currency, that they will just bend over and allow for the rise of BTC as the alternative to the US Dollar. If the FED gets involved and pushes for a FED coin (As Jerome Powell just suggested), BTC will disappear or at the very least crawl back into the speculative cave from which it came from to die a painful death.
  • If the USD index continues to rise as recently seen this past week, then BTC value will undoubtedly drop as there has always been an inverse correlation between the two.
  • Increased US government regulation of cryptocurrencies. Remember, Joe Biden and his party want more government regulation & taxation. This is the Democratic party for fuck's sake and they're about wealth redistribution at the cost of the wealthy. For anyone to think that a hypothetical store of wealth like BitCoin (where many of the "young" rich are trying to hide their money) would be immune to high government regulation, that Biden and family look to bring, is downright naive. Also, with the European Central Bank calling for more regulation of BitCoin, how long before the US Federal Reserve bank does the same? If the Fed follows in similar path to the European Central Bank, you better bet the house on the fact that Biden and Democratically controlled Congress will do as the FED asks, because they (The FED) are literally the USA's piggy bank.
  • If a better designed version of cryptocurrency is created, it can also make BTC go away (this was most recently voiced by UBS).
  • History has shown us that right as stocks (of any kind) are overbought, this most often times than not leads to ultimate corrections in price. Right now, BTC is way overvalued & overbought, I think his most recent 28% drop in the price of BTC was just the beginning.

Here are some scenarios which could lead to a temporary rise (even if short-lived) in the value of BTC:

  • Crypto custody assumed by large US financial institutions. This will create a false sense of security, as traders/investors in Wall Street will adopt the sentiment that these financial institutions are TOO BIG TO FAIL and that the fate of the US economy hangs in their balance, which would then lead these investors to blindly assume trust on crypto not collapsing. The average financial analyst will assume that these big institutions would never assume such risky positions unless they knew something that the common man doesn't. What people forget is that these large institutions care about their FEES above all else. Regardless of BTC rising or crashing, so as long as they can charge their customer fees and get money for subsidized gambling, they don't give a fuck about the fate of BTC or any other cryptocurrency.
  • A move from a worldwide dependence on oil to more sustainable sources of energy (electric, solar, hydrogen, wind sources etc). Given that oil is priced in dollars, we've had a monopoly in the world markets, but if you take the value of oil away, it will hurt the US dollar index substantially and lends more value to BTC. With some states like California talking about removing all oil powered cars by 2030 (clean car mandate), this could slowly set a trend that could be followed by other states, which could be bad for big oil companies and of course the US dollar.
  • Fear of the US dollar undergoing substantial inflation (due to US gov't counting on the FED to continuously keep monetizing the debt in order to keep funding additional relief packages, keep our economy on life support & to furthermore fund the green new deal that democrats will aim for under Biden). If the USD loses value, most people will look for alternatives hedges against inflation. While I believe in different assets (Real Estate etc), some will blindly place trust in digital FIAT currency.

Let me know what you guys think. As an accountant, easily over half of my clients have sizable positions in BitCoin and when now preparing their taxes for the 2020 year, I keep asking the same questions to them that I have posed to you all. Sadly, they are mostly driven by the fear of missing out on a possible great opportunity created by BTC to make money. They're not looking at the end game, but instead following the guidance of their financial advisors that are of course supplied by the big financial trading firms.

"1"

Bindare_Dundat

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Re: Bitcoins - about to hit $5,000 per coin today!
« Reply #4296 on: January 16, 2021, 10:28:06 AM »
What do you mean?

Might hit new highs relatively soon.

Bindare_Dundat

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Re: Bitcoins - about to hit $5,000 per coin today!
« Reply #4297 on: January 16, 2021, 10:28:59 AM »
I'm sorry gentlemen, but this shit seems like a disaster.

Bitcoin is a highly speculative asset. It has created a bubble inflated by fear, speculation and hopes of a viable hedge against inflation + or even the possible collapse of the US dollar.

Here are some scenarios which could lead to a drastic drop in the value of BTC:

  • The European Central Bank's president, Christine Lagarde, has called for greater regulation of BTC. If the European governments decide to squeeze BTC, it can lead to it's downfall. Not to mention that once Biden comfortable in the White House, he will most likely start to do the same and demand more regulation towards BTC.
  • On Thursday, January 12, 2021, Federal Reserve chairman Jerome Powell stressed the fact that the creation of central bank digital currencies (CBDCs) is a very high priority. In other words, the US Federal Reserve Bank is already working on this and this is essentially the epitaph on BitCoin's tombstone.
  • Why is BTC seeking for crypto custody by large US financial institutions? Playing devil's advocate, let's consider an alternate scenario as to the reason "why" BTC is looking for assumption of crypto custody by large US financial institutions. I believe BTC’s recent search for crypto custody by large US financial institutions (like Goldman Sachs, JP Morgan & CitiBank) is likely a move out of sheer desperation by BTC due to fears of likely incoming government regulation and furthermore the creation of a Federal Reserve digital currency. Remember, the Federal Reserve (which is made up of the 12 distinct Federal Reserve banks in the USA) is not owned by the US government (even though the US government/President can nominate a chairman). There are old families, which control some of the largest financial institutions here in the USA, that are behind the FED in its totality. I think it is farfetched to assume that after they (the families) built up the USA's standing as the current world superpower with the world's reserve FIAT currency, that they will just bend over and allow for the rise of BTC as the alternative to the US Dollar. If the FED gets involved and pushes for a FED coin (As Jerome Powell just suggested), BTC will disappear or at the very least crawl back into the speculative cave from which it came from to die a painful death.
  • If the USD index continues to rise as recently seen this past week, then BTC value will undoubtedly drop as there has always been an inverse correlation between the two.
  • Increased US government regulation of cryptocurrencies. Remember, Joe Biden and his party want more government regulation & taxation. This is the Democratic party for fuck's sake and they're about wealth redistribution at the cost of the wealthy. For anyone to think that a hypothetical store of wealth like BitCoin (where many of the "young" rich are trying to hide their money) would be immune to high government regulation, that Biden and family look to bring, is downright naive. Also, with the European Central Bank calling for more regulation of BitCoin, how long before the US Federal Reserve bank does the same? If the Fed follows in similar path to the European Central Bank, you better bet the house on the fact that Biden and Democratically controlled Congress will do as the FED asks, because they (The FED) are literally the USA's piggy bank.
  • If a better designed version of cryptocurrency is created, it can also make BTC go away (this was most recently voiced by UBS).
  • History has shown us that right as stocks (of any kind) are overbought, this most often times than not leads to ultimate corrections in price. Right now, BTC is way overvalued & overbought, I think his most recent 28% drop in the price of BTC was just the beginning.

Here are some scenarios which could lead to a temporary rise (even if short-lived) in the value of BTC:

  • Crypto custody assumed by large US financial institutions. This will create a false sense of security, as traders/investors in Wall Street will adopt the sentiment that these financial institutions are TOO BIG TO FAIL and that the fate of the US economy hangs in their balance, which would then lead these investors to blindly assume trust on crypto not collapsing. The average financial analyst will assume that these big institutions would never assume such risky positions unless they knew something that the common man doesn't. What people forget is that these large institutions care about their FEES above all else. Regardless of BTC rising or crashing, so as long as they can charge their customer fees and get money for subsidized gambling, they don't give a fuck about the fate of BTC or any other cryptocurrency.
  • A move from a worldwide dependence on oil to more sustainable sources of energy (electric, solar, hydrogen, wind sources etc). Given that oil is priced in dollars, we've had a monopoly in the world markets, but if you take the value of oil away, it will hurt the US dollar index substantially and lends more value to BTC. With some states like California talking about removing all oil powered cars by 2030 (clean car mandate), this could slowly set a trend that could be followed by other states, which could be bad for big oil companies and of course the US dollar.
  • Fear of the US dollar undergoing substantial inflation (due to US gov't counting on the FED to continuously keep monetizing the debt in order to keep funding additional relief packages, keep our economy on life support & to furthermore fund the green new deal that democrats will aim for under Biden). If the USD loses value, most people will look for alternatives hedges against inflation. While I believe in different assets (Real Estate etc), some will blindly place trust in digital FIAT currency.

Let me know what you guys think. As an accountant, easily over half of my clients have sizable positions in BitCoin and when now preparing their taxes for the 2020 year, I keep asking the same questions to them that I have posed to you all. Sadly, they are mostly driven by the fear of missing out on a possible great opportunity created by BTC to make money. They're not looking at the end game, but instead following the guidance of their financial advisors that are of course supplied by the big financial trading firms.

"1"

Governments only.care about getting taxes from this. Thats all.

OneMoreRep

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Re: Bitcoins - about to hit $5,000 per coin today!
« Reply #4298 on: January 16, 2021, 10:30:10 AM »
Governments only.care about getting taxes from his. Thats all.

Huh? Not sure what you mean by this statement.

Also, I think you are very mistaken if you think the US government only cares about taxation. While taxation is helpful for funding government sponsored programs and expenditures, the government holds power by way of their standing throughout international markets (particularly as the world's superpower & reserve currency). If we lose our position as the world reserve currency, which is directly tied to the US government, then we lose it all. If our currency holds less value or no value at all, we stop being the superpower that we are, which in turns renders us less useful in global markets.

"1"

Bindare_Dundat

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Re: Bitcoins - about to hit $5,000 per coin today!
« Reply #4299 on: January 16, 2021, 10:34:54 AM »
Huh? Not sure what you mean by this statement.

Also, I think you are very mistaken if you think the US government only cares about taxation. While taxation is helpful for funding government sponsored programs and expenditures, the government holds power by way of their standing throughout international markets (particularly as the world's superpower & reserve currency). If we lose our position as the world reserve currency, which is directly tied to the US government, then we lose it all. If our currency holds less value or no value at all, we stop being the superpower that we are, which in turns renders us less useful in global markets.

"1"

They want to be able to get to your money. Many countries have tried to stop crypto and failed. The US hasn put in a serious effort thus far.