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

[gib]

How is he using btc as a pomzi scheme? Probably only gib and I who see btc in the same light and have no influence  on pumping or calling the bottom. It's either btc goes to 0 or 1million and if it goes to 1million, it's going a lot higher.

What you see is shitcoiners fuding btc as old tech, prone to 51% attack, killing the Amazon rainforest just so they can pump their bags because they're salty they missed out on an early entry.

99% of 20000+ coins are outright scams and 1% will eventually die out in the long run or end up using  using satoshi as unit of account. People are not going to use multiple coins for micro payments. Btc is the best form of money humanity has ever had and its ushering in a new era or freedom and progress.

100% Agree.

And by the way, if one was going to do a pump and dump, BTC would be the absolute worst and most difficult to do it with, given its market-cap and liquidity. There really are some paranoid idiots out there...

[gib]

Fidelity quietly switches on Bitcoin access to over 30,000,000 customers...

[Flexacon]

You see Jerome Powell’s grilling today?

US senate laying the groundwork for the next big stimmy program. It was all ‘you’re going after people’s jobs’ over and over again. The US govt will jump into save American jobs in 2024 and pump in stimmy like there’s no tomorrow.

What's your twitter feed looking like? I got everyone thinking that QE in back as the reserve balance went up $2Trillion and tech stocks pumped.  Bears are capitulating and everyone thinks the bull market is back on.

It's not QE (securities held at the FED haven't changed) but no one seems to wanna listen. This is gonna get ugly.

Also Fidelity quietly switches on ETH access to over 30,000,000 customers...

[loco]

Yes, you are sort of right with the point you make here.

I'm "sort of right"?  LOL

I'm 100% right.  That's how FDIC insurance works.

The problem occurs when the total funds they have from deposits exceeds the amounts they need to pay out. That is when the money printing starts. Either way, with Bitcoin you self custody. With cash you take counterparty risk. With Bitcoin you can self store store any amount. With cash, not only do you have counterparty risk, but its capped at 250K.

No.

Have many FDIC-insured banks, large and small, failed in the last 90 years?  Yes.

Since 1933, no depositor has ever lost a penny of FDIC-insured funds.

These facts don't create a strong case for your claims.

[gib]

I'm "sort of right"?  LOL

I'm 100% right.  That's how FDIC insurance works.

No.

Have many FDIC-insured banks, large and small, failed in the last 90 years?  Yes.

Since 1933, no depositor has ever lost a penny of FDIC-insured funds.

These facts don't create a strong case for your claims.

You are entirely wrong. Hundreds banks have failed in the US since 1933. And in all such cases (SVB being the rare exception) all deposits over 250K were NOT refunded.

On average, between 1980 and 1994, a US bank failed every three days. The pace of bankruptcies peaked immediately after the 2008 financial crisis. 465 banks failed from 2008 to 2012.

You can learn a little more here: https://en.wikipedia.org/wiki/List_of_bank_failures_in_the_United_States_(2008%E2%80%93present)

Please educate yourself and stop spreading your fiat ponzi scam nonsense here.

Bitcoin doesn't care what you accuse it of, or what you accuse those of who use it, or what lies you tell about it. It just keep on doing what it does...

[loco]

Hundreds banks have failed in the US since 1933.

Yes, that's what I said:

Have many FDIC-insured banks, large and small, failed in the last 90 years?  Yes.

Slow down, and read carefully.

And in all such cases (SVB being the rare exception) all deposits over 250K were NOT refunded.

That's because only FDIC-insured funds are refunded, uninsured funds are not.

Currently, bank deposits are FDIC insured up to $250,000 per depositor, per insured bank, for each account ownership category.

Those who are aware of the rules and followed them did not lose a single penny of FDIC-insured funds in 90 years of FDIC-insured bank failures.

Not a strong case at all for your claims.

[gib]

For those of us with higher net worth, its not practical to keep our cash scattered across numerous banks. And in any case, we don't like keeping our wealth stored in a currency which steals from us through devaluation. Also, not all such people have access to banks in the US.

But yes, if you have a small amount of cash, live in the US, then yes you will be fine (other than the continuous devaluation) with a US bank. But even in that case, that of course does not mean cash it a better investment than Bitcoin.

[loco]

For those of us with higher net worth, its not practical to keep our cash scattered across numerous banks. And in any case, we don't like keeping our wealth stored in a currency which steals from us through devaluation. Also, not all such people have access to banks in the US.

But yes, if you have a small amount of cash, live in the US, then yes you will be fine (other than the continuous devaluation) with a US bank. But even in that case, that of course does not mean cash it a better investment than Bitcoin.

So BTC is only for multi-millionaires, who don't have access to US FDIC-insured banks, who keep way too much cash lying around doing nothing instead of investing it in appreciating assets such as stocks, real estate, and bonds.  Everyone else should stay away from BTC.

Got it.

[Mayday]

What's your twitter feed looking like? I got everyone thinking that QE in back as the reserve balance went up $2Trillion and tech stocks pumped.  Bears are capitulating and everyone thinks the bull market is back on.

It's not QE (securities held at the FED haven't changed) but no one seems to wanna listen. This is gonna get ugly.

Also Fidelity quietly switches on ETH access to over 30,000,000 customers...

My feed is the same as yours. One massive circle jerk claiming QE is back. Spastics, the lot of them.

But you can see from this BTC rally and why I had said this could turn utter crazy when people think QE is coming but they get it wrong. YOLO central right now. Glad I left my hedge in play but at the same time glad I took a 2.5x profit of my bull holdings.

It’s going to turn to a total shitshow as the market is pricing cuts in July but Fed will be holding rates at least out to November.

[dunkin donuts]

Sincere question for open discussion: why do gold bugs advocate for only 5% of your personal wealth in gold? While at the same time writing and speaking volumes on the merrits of gold. It's like they want to insure only 5% of their wealth and gamble away the 95% on speculative assets? Or keep the 95% in cash and see it devalue? Or what?

I bought some gold and am contemplating buying more, but I am worried about liquidity when buying only in 1 kg bars. And also overall, I question the gold narrative for the question posed above.

I also don't trust bitcoin because there is plausible reason to assume it's the work of MIT spooks contracted by the central banks and government to steer the cattle into their digital prison

[GymnJuice]

For those of us with higher net worth, its not practical to keep our cash scattered across numerous banks. And in any case, we don't like keeping our wealth stored in a currency which steals from us through devaluation. Also, not all such people have access to banks in the US.

But yes, if you have a small amount of cash, live in the US, then yes you will be fine (other than the continuous devaluation) with a US bank. But even in that case, that of course does not mean cash it a better investment than Bitcoin.

I think you can buy CDs at different banks through your brokerage account. Each CD at each bank should be individually counted as a separate FDIC 250k allotment. This is my understanding.

[Flexacon]

My feed is the same as yours. One massive circle jerk claiming QE is back. Spastics, the lot of them.

But you can see from this BTC rally and why I had said this could turn utter crazy when people think QE is coming but they get it wrong. YOLO central right now. Glad I left my hedge in play but at the same time glad I took a 2.5x profit of my bull holdings.

It’s going to turn to a total shitshow as the market is pricing cuts in July but Fed will be holding rates at least out to November.

If there isn't a 50 bps rate hike and nothing breaks then markets could have a brief rally, but it's just delaying the inevitable.

Alts aren't doing much on this BTC rally. Need BTC price to settle, maybe somewhere at around 28k or 32k and then jump back in alts when random alts start popping.

TA is telling me BTC will give it all back pretty soon though. 22k, 20k and 18k are possibilities. Maybe if we have some bad news this weekend or around the FED meeting

[Thin Lizzy]

Another upside breakout. Last one was a trap. IMO, if the trap was there once. It’ll be there again.

[Theoak*]

Sincere question for open discussion: why do gold bugs advocate for only 5% of your personal wealth in gold? While at the same time writing and speaking volumes on the merrits of gold. It's like they want to insure only 5% of their wealth and gamble away the 95% on speculative assets? Or keep the 95% in cash and see it devalue? Or what?

I bought some gold and am contemplating buying more, but I am worried about liquidity when buying only in 1 kg bars. And also overall, I question the gold narrative for the question posed above.

I also don't trust bitcoin because there is plausible reason to assume it's the work of MIT spooks contracted by the central banks and government to steer the cattle into their digital prison

We are all headed into a digital prison whether you like it or not. Bitcoin is the only insurance/tool against it. Decentrilization of money is what releases  you from those  shackles.

Gold has been seized by countries governments in times of crisis. Why would  you allocate anything let alone 5% into a dead rock, which us hard to move, can never ever be any form of money again?

As of this minute  I can hire a website developer, computer programmer from halfway across  the world who doesn't have access to financial services and pay them via the lightning network in btc. The transaction will cost me a fraction of a cent and they will receive btc instantaneously, un-confiscatble, decentrilised and totally secure.

Don't worry, this old tech is going no where, no entrepreneurs  will enter the space, adoption will come to halt and the addressable asset market of 500 trillion + will be consumed by a bunch of degens placing their bets on masturbating monkey pics thinking their centralised protocol is the future of money.

[Flexacon]

We are all headed into a digital prison whether you like it or not. Bitcoin is the only insurance/tool against it. Decentrilization of money is what releases  you from those  shackles.

Gold has been seized by countries governments in times of crisis. Why would  you allocate anything let alone 5% into a dead rock, which us hard to move, can never ever be any form of money again?

As of this minute  I can hire a website developer, computer programmer from halfway across  the world who doesn't have access to financial services and pay them via the lightning network in btc. The transaction will cost me a fraction of a cent and they will receive btc instantaneously, un-confiscatble, decentrilised and totally secure.

Don't worry, this old tech is going no where, no entrepreneurs  will enter the space, adoption will come to halt and the addressable asset market of 500 trillion + will be consumed by a bunch of degens placing their bets on masturbating monkey pics thinking their centralised protocol is the future of money.

Seems like you're pretty upset the degens no longer pump your bags. I recommend you start add these to your shopping cart for a better nights sleep.

[OneMoreRep]

Janet Yellen's most recent remarks from 3/16/23 are nothing short of TERRIFYING. Watch this video (below) from the 1:19 mark onward...

Pretty sure the government has made up its mind and wants to divert all available FIAT cash to Systematically Important Banks (SIBs) in order to set the stage for the unveiling of their population-controlling CBDC. Regional banks will get slaughtered and depositors are starting to fear that their funds will evaporate as defaults begin. Moreover, as you've all seen, part of the deal in bailing out the tech-friendly banks is a clause that states that they will no longer honor the business of crypto dealings.

Americans, at the very least, will have a hard time off-ramping their crypto profits onto FIAT currency, as there might be no banks left to provide such a critical function. I think sticking to any cryptos that have proven utility and involvement in the future movements of the government makes most sense. I hold a few Bitcoin, but will seriously start to consider selling off (or converting to other crypto) as the writing is on the wall, unless HYPERINFLATION becomes a reality which I think could be possible given the stunt(s) that the FED and government pulled this past weekend.

"1"

[gib]

If there isn't a 50 bps rate hike and nothing breaks then markets could have a brief rally, but it's just delaying the inevitable.

Alts aren't doing much on this BTC rally. Need BTC price to settle, maybe somewhere at around 28k or 32k and then jump back in alts when random alts start popping.

You should have realized by now that almost all alts are scams (not to mention unregulated securities). Bitcoin has emerged at the single true "alt" to fiat currency. We don't need alt, alts. United we stand, divided we fall. Stay away from a poor-mans shit coin, stack sats, and hodl, It not that hard...

[loco]

You should have realized by now that almost all alts are scams (not to mention unregulated securities). Bitcoin has emerged at the single true "alt" to fiat currency. We don't need alt, alts. United we stand, divided we fall. Stay away from a poor-mans shit coin, stack sats, and hodl, It not that hard...

By "we" you mean only multi-millionaires, who don't have access to US FDIC-insured banks, who keep way too much cash lying around doing nothing instead of investing it in appreciating assets such as stocks, real estate, and bonds?

Everyone else should stay away from BTC?

For those of us with higher net worth, its not practical to keep our cash scattered across numerous banks. And in any case, we don't like keeping our wealth stored in a currency which steals from us through devaluation. Also, not all such people have access to banks in the US.

But yes, if you have a small amount of cash, live in the US, then yes you will be fine (other than the continuous devaluation) with a US bank. But even in that case, that of course does not mean cash it a better investment than Bitcoin.

[gib]

So BTC is only for multi-millionaires, who don't have access to US FDIC-insured banks, who keep way too much cash lying around doing nothing instead of investing it in appreciating assets such as stocks, real estate, and bonds.  Everyone else should stay away from BTC.

Got it.

Loco, you are obviously not stupid. But you need to think ahead a little. Bitcoin does not discriminate. And it is limited in supply. So what happens when all that big money tries to squeeze into one small, and perfectly limited in supply, asset? ... If goes up.

Rich and poor benefit equally and are treated equally by Bitcoin. Bitcoin gives the poorest person in Africa the exact same % gain as the institutions and HNW's in America.

You would have to be a naive fool, if after all that has been written in this thread, not to be storing some of your wealth in Bitcoin, for many reasons which have been explained and which should be obvious.
 

[gib]

By "we" you mean only multi-millionaires, who don't have access to US FDIC-insured banks, who keep way too much cash lying around doing nothing instead of investing it in appreciating assets such as stocks, real estate, and bonds?

Everyone else should stay away from BTC?

Stocks, real estate, and bonds are all assets worth having some exposure to. But they also all have risks which Bitcoin can help negate.

Stocks are 100% dependent on the management of the company. Bitcojn is managed by an algorithm. Bonds are a promise to pay cash by a certain date - the value of that future cash can plummet over time, and the issuer can become insolvent. Real estate can be confiscated, taxed, requires maintenance, and is not portable. Bitcoin solves that ...

[loco]

Loco, you are obviously not stupid. But you need to think ahead a little. Bitcoin does not discriminate. And it is limited in supply. So what happens when all that big money tries to squeeze into one small, and perfectly limited in supply, asset? ... If goes up.

Rich and poor benefit equally and are treated equally by Bitcoin. Bitcoin gives the poorest person in Africa the exact same % gain as the institutions and HNW's in America.

You would have to be a naive fool, if after all that has been written in this thread, not to be storing some of your wealth in Bitcoin, for many reasons which have been explained and which should be obvious.

What does any of this have to do with your incorrect claims about FDIC-insured funds?

[loco]

Stocks, real estate, and bonds are all assets worth having some exposure to. But they also all have risks which Bitcoin can help negate.

LOL...Stocks, real estate, and bonds are all assets worth having just "some" exposure to?  What, you've got the majority of your net worth in BTC?   

Stocks are 100% dependent on the management of the company. Bitcojn is managed by an algorithm. Bonds are a promise to pay cash by a certain date - the value of that future cash can plummet over time, and the issuer can become insolvent. Real estate can be confiscated, taxed, requires maintenance, and is not portable. Bitcoin solves that ...

And crypto exchanges collapse, crypto withdrawals/transfers get suspended, wallets get hacked, cold storage devices and keys get forgotten or lost to fire, theft, etc.

Claiming BTC "investments" are safer than stocks, real estate, bonds and FDIC-insured cash deposits is laughable.

I have nothing against you or against BTC.  I own BTC and ETH.  It's your extraordinary and incorrect claims that I have a problem with.

[dunkin donuts]

Gold is going to rip to 5000

[Mayday]

If there isn't a 50 bps rate hike and nothing breaks then markets could have a brief rally, but it's just delaying the inevitable.

Alts aren't doing much on this BTC rally. Need BTC price to settle, maybe somewhere at around 28k or 32k and then jump back in alts when random alts start popping.

TA is telling me BTC will give it all back pretty soon though. 22k, 20k and 18k are possibilities. Maybe if we have some bad news this weekend or around the FED meeting

It's all about July now as market is betting on rate cuts vs Fed saying Feb 2024. The market has been wrong about everything and just as we get to the worst part they are wrong again on cuts. I think after July once the cuts don't start happening the market will shit itself and we find new lows.

For now at least my target for BTC is 40s and this pump above 20k looks pretty favourable.

I am only holding AVAX, HDRN, SOLO. My Hedron is at 2x already. AVAX has been a piece of shit and i'm still flat, SOLO is a recent pickup.

I have a strategy so i'm not prepared to go chasing this pump when my positions are already in profit. I agree with you and i think in Q3-Q4 this likely goes to Hades and that's when we will see 10k.

Another upside breakout. Last one was a trap. IMO, if the trap was there once. It’ll be there again.

Check your bias IMO.

Sides are either too bullish or too bearish. The market and the Fed are aligned Mar-May for now so consider why would this be a trap so far in advance.

[Mayday]

Another upside breakout. Last one was a trap. IMO, if the trap was there once. It’ll be there again.

First breakout on the weekly. If it holds this then upward trend to 40s is the highest probability.

Once we break above 30s this thing will go full YOLO and I bet once we get to 40k we will have euphoric hills calls for a new ATH and it’ll be dead lol.