patrick.net

G36 says

Thats easy

Missing from the chart: Store of Value - Stability.

Remember when old Joe Kennedy said he knew it was time go get out of the market before 1929 when his shoeshine boy started giving him stock tips?

Ceffer says

Remember when old Joe Kennedy said he knew it was time go get out of the market before 1929 when his shoeshine boy started giving him stock tips?

But how would one get out of BTC "market" when he never was in it in the first place? =))

WookieMan says

This all has turned into bullshit because of one spammer.

Now I see what you mean. He shared some informative, insightful information on his thread about the topic. But he's spammin' other threads and trolled someone else called "Zak" on another. Now I see why you lost it.

@B.A.C.A.H.
one can BS the threads with contradicting statements all day long. Doesn't bother you. But because I reminded ZAK of the rules to keep it civil you call me a spammer.
Look, I get that people are pissed....They have been trashing Bitcoin since years and have to now witness Bitcoin's rally to 40k shortly after breaking its previous ATH.
I can lead a horse to the water but cant make him/her drink....

Someone will break the algorithm for mining with quantum computing and bitcoin will fail the same week.

rocketjoe79 says

Someone will break the algorithm for mining with quantum computing and bitcoin will fail the same week.

@rocketjoe79

yeah, for sure, and if quantum computing wont kill Bitcoin the Nuclear EMP will do the trick.
At some point it will be dead. In the meantime we are going to >100k.

G36 says

yeah, for sure, and if quantum computing wont kill Bitcoin the Nuclear EMP will do the trick.
At some point it will be dead. In the meantime we are going to >100k.

Or the rubes will wise up and get out while someone is still willing to pay for your 1.9 "coins".

Onvacation says

G36 says

yeah, for sure, and if quantum computing wont kill Bitcoin the Nuclear EMP will do the trick.
At some point it will be dead. In the meantime we are going to >100k.

Or the rubes will wise up and get out while someone is still willing to pay for your 1.9 "coins".

>100k is a bit vague. My reach the 200-300k range per precious digital gold coin (Bitcoin)

G36 says

>100k is a bit vague. My reach the 200-300k range per precious digital gold coin (Bitcoin)

I have this really rare matchbox car. They're not making any more. Currently it,s only worth about 10 grand but someday I am certain it will sell for a couple hundred grand.


And it's REAL!

and dont forget Ethereum! It may land in the 20-25k range at the end of the cycle! currently trading at around 1200. A steal!

5,200 Tobacco Shops in France Now Sell Bitcoin.

French fintech startup Keplerk announced Thursday that it has resumed service selling BTC at “Tabacs” in and around Paris, after halting the service earlier this year. A Tabac is a convenience store licensed to sell tobacco products. These stores also sell newspapers, lotto tickets, scratch games, telephone cards and postage stamps.
https://news.bitcoin.com/5200-tobacco-shops-in-france-now-sell-bitcoin/

There's your retail demand.

Onvacation says

5,200 Tobacco Shops in France Now Sell Bitcoin.

French fintech startup Keplerk announced Thursday that it has resumed service selling BTC at “Tabacs” in and around Paris, after halting the service earlier this year. A Tabac is a convenience store licensed to sell tobacco products. These stores also sell newspapers, lotto tickets, scratch games, telephone cards and postage stamps.
https://news.bitcoin.com/5200-tobacco-shops-in-france-now-sell-bitcoin/

There's your retail demand.

@onvacation
This article got me excited. This Nasdaq listed company is buying $100M worth of Bitcoin. That itself is normal nowadays (PayPal, Square, MicroStrategies, hedge funds, banks have been pouring in millions of USD in precious digital gold coins (Bitcoin). The exciting part is that this company also mentions Ethereum as a store of value in their statement:

"Meanwhile, in addition to BTC, Greenpro Capital says it also believes that “other top cryptocurrencies such as Ethereum will provide the opportunity for better returns and preserve the value of our capital over time rather than holding cash.”

Yes, yes, yes! Smart money should absolutely buy Ethereum as well!!!

https://news.bitcoin.com/nasdaq-listed-greenpro-capital-to-set-up-bitcoin-fund-using-a-100-million-loan/

G36 says

This article got me excited.

Um kay.

I'm going to stick to real stuff like tulips and beanie babies and matchbox cars. It kind of sucks that you can't play with the cars. It lowers their value.

Bitcoin down to 35k at the movement, hope its a buying "opportunity" for some.

Blue says

Bitcoin down to 35k at the movement,

Nooooooo!

Eric Holder says

Blue says

Bitcoin down to 35k at the movement,

Nooooooo!

Wait until is goes to $0 USD ;)

WookieMan says

Eric Holder says

Blue says

Bitcoin down to 35k at the movement,

Nooooooo!

Wait until is goes to $0 USD ;)

And then back up the truck? =))

Eric Holder says

WookieMan says

Eric Holder says

Blue says

Bitcoin down to 35k at the movement,

Nooooooo!

Wait until is goes to $0 USD ;)

And then back up the truck? =))

Go big or go home. Back up one of these:



Could easily fit a couple hundred thousand flash drives in there for sure.

‘Prepare to lose all your money’ — regulator’s blunt warning on bitcoin and other cryptocurrencies

The U.K.’s financial regulator on Monday issued a very blunt warning about the rise of bitcoin and other cryptocurrencies.

The warning was prompted by firms “offering investments in cryptoassets, or lending or investments linked to cryptoassets, that promise high returns,” the Financial Conduct Authority said.

The regulator said it had five concerns: Consumer protection, price volatility, product complexity, charges and fees, and marketing materials. “There is no guarantee that cryptoassets can be converted back into cash. Converting a cryptoasset back to cash depends on demand and supply existing in the market,” the regulator said.

The market cap of bitcoin and other cryptocurrencies topped $1 trillion last week, according to CoinDesk. Bitcoin BTCUSD, -13.01% over the last 12 months has gained 330%.

Bitcoin, ethereum ETHUSD, -19.25% and other cryptocurrencies tumbled on Monday, with double-digit percentage declines.

WookieMan says

Eric Holder says

WookieMan says

Eric Holder says

Blue says

Bitcoin down to 35k at the movement,

Nooooooo!

Wait until is goes to $0 USD ;)

And then back up the truck? =))

Go big or go home. Back up one of these:



Could easily fit a couple hundred thousand flash drives in there for sure.

R u sure bigger ones are not available? Don't want to settle for inferior shit, you know....

Onvacation says

stick to real stuff

Absolutely! Thats the problem with matchbox cars and physical coins. They take up space, may collect dust and can easily be counterfeited. The Chinese can manufacture those things for a few pennies and you barely can tell a difference to what you think is the original.
With precious digital gold coins (Bitcoin) its different. There is no double-spending and counterfeiting with Bitcoin. Bitcoin is the real deal.

Eric Holder says

“There is no guarantee that cryptoassets can be converted back into cash. Converting a cryptoasset back to cash depends on demand and supply existing in the market,”

Also known as the greater fool theory.

G36 says

They take up space, may collect dust and can easily be counterfeited.

Where as with Ethereum you literally have nothing to lose.

Onvacation says

with Ethereum you literally have nothing to lose.

Well, there is still some risk. No investment is a sure bet. But your upside potential with Ethereum is enormous! It think it will do great in 2021!
It was only 700 on Dec 28th. Its close to 1k as of now! Wow!

To summarize so far:
Bitcoin is a scam
It has no store of value.
It consumes all incoming money.
It requires an INCREDIBLE amount of power just to maintain it.
It is not used in transactions.
It is incredibly volatile.
The only way to get your money out is if someone else puts their money in.
It is used to collect ransom, launder money, pay off nefarious characters. (lol)

If you are in crypto in spite of knowing all of the above you are a gambler that doesn't care about the harm it causes to the environment and the rubes that think it is "digital gold". Or you are the rube.

Bitcoin is nothing other than a chain letter or pyramid scheme. It's based on thin air so don't be caught without a chair.

Bitcoin haters seem active today. Bitcoin Is up 100% since a month ago :)
We finally corrected today, which was very needed to push this bull market forward in a sustainable way! Its not healthy for Bitcoin to just go up in a straight line.
Smart money has made big investments in Digital Gold (Bitcoin) and retail is coming in hot! Check out those google Bitcoin search trends I have been talking about for a while now!
I am pretty sure the 2017 Bitcoin google trends will soon just be a blip on the chart.

Coinbase has over 35 million members. Recently it has been adding over 1 million new members per month. These are not sophisticated investors. The median account size is less than $1000.

While a drop from $40k to $35k per bitcoin is a "nothingburger" to a long term Holdr, for a Starbucks barrista, who cash advanced $4k to buy into Bitcoin at $40k on his credit card; the loss is staggering.

Of course the price could go up from here, Bubbles have a way of expanding far beyond what people think possible.

@Misc

That Starbucks barista made out like bandits if he invested left over money from his paycheck in Bitcoin in the recent years! Congrats to that guy!
Bitcoin is up over 12,000,000% over the past 10 years. Depending on when the barista got in, he might be rich!

Coinbase also offers services to institutions not just retail. Rumor has it, Coinbase facilitate the hundreds of million dollar purchase of Bitcoin by Michal Saylors Microstrategies!

Coinbase - for new users (That could be you Misc)
Coinbase Pro - for users like me
Coinbase Prime - Institutions
Coinbase OTC - big fish

G36 says

Smart money has made big investments in Digital Gold

Want to debate any of the points I made above?

Bitcoin is no longer "overbought" on the RSI. Corrections are healthy and needed to shake out weak hands. A lot of people must have panicked today. Why? Dont they know each dip is an opportunity to load up the truck? Just look at the data!

This chart says it all.

personal

I knew I had that coming, but my comment was funny as hell. Come on, Patrick...admit it.

So, with all those lost "coins" does it make the market cap go down, or the value of individual coins go up?

Trying to understand the concept of digital gold.

Onvacation says

So, with all those lost "coins" does it make the market cap go down, or the value of individual coins go up?

Trying to understand the concept of digital gold.

What part of "Big Daddy to the Moon!" don't you understand?

Eric Holder says

"Big Daddy to the Moon!"

Do you DENY the coming asymptote of riches?

Onvacation says

So, with all those lost "coins" does it make the market cap go down, or the value of individual coins go up?

Not expecting a cogent answer.