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they all believe Bitcoin will go much, much higher. Reason why PayPal, Square, TESLA and Microstrategies buy and hold.
they all believe Bitcoin will go much, much higher. Reason why PayPal, Square, TESLA and Microstrategies buy and hold.
A big disadvantage over real gold is that after it is mined it has to be mined again and again...
Summary: transactions all have a cost with Bitcoin. I suppose that's true for gold as well.
Fact remains, the 3rd world has been successfully using it to avoid the shenanigans of their governments.
Onvacation saysA big disadvantage over real gold is that after it is mined it has to be mined again and again...
Wait, what? I've never heard of that. Please explain.
I avoided investing out of fears of government reprisal and better networks making it obsolete. Institutional investment and ETFs holding it is the final piece of the puzzle that ultimately makes this legit. Fact remains, the 3rd world has been successfully using it to avoid the shenanigans of their governments. So far it's been a success.
Bitcoiners dont sell. Sure, there is new money that panic sells at losses (dumb money) but the majority of Bitcoin holders dont sell. They HODL because they all believe Bitcoin will go much, much higher. Reason why PayPal, Square, TESLA and Microstrategies buy and hold. So why would the price dumb then?
Its miner pools. Mining is a business. They have to sell at some point and they have massive amounts of Bitcoin that they accumulate during bear markets and unload during a bull run. Its actually extremely healthy to prolong the cycle and it gives new money and traders an entry point. During the last Bull run in 2017 we saw 30-40% dips at least 3-4 times before the peak. Its normal for Bitcoin.
Bitcoin will see at least 100k this cycle. You can bet the farm on it. Watch and see.
There is no physical asset with BTC and it's traded in fiat, which is why it's doomed. And there was a creator. Likely a group of wealthy people. Or wealthy people took it over and will manipulate it to take your money. This is wealth extraction at its finest.
Rin saysof digital 'gold' may emerge
exactly
2030 sounds good to me. I will be filthy rich by then (got in early with Bitcoin, ADA, ETH, etc)
yeah, with your portfolio of 5k in stocks (LUV) you wont be rich, thats correct @wookieMan.
BTW, beautiful weather here in Socal. Sorry its another shitty day in IL (heard this is the case all year).
Sry bud!
I can promise that.
Are you depressed?
Nigeria and India are trying to shut it down and it appears they are failing. The system really was an ingenious design.
theoakman saysNigeria and India are trying to shut it down and it appears they are failing. The system really was an ingenious design.
I'm still trying to catch up (and am about 8 years behind the times with my questions). So every ISP could block port 8333, but then you'd just move the client over to a different port. Hmmmm...
All they have to do it make it illegal with hefty penalties or jail time.
WookieMan saysAll they have to do it make it illegal with hefty penalties or jail time.
Interestingly, the US government has blacklisted a couple of Iranian bitcoin addresses. They can't block transactions to those bitcoin addresses, but the government can prosecute those individuals who transact with the blacklisted Iranian addresses (as seen on public bitcoin ledger).
Let's get to the bottom of this. Ronny Chieng to the rescue.
https://youtu.be/nRItzSX0aCM
They can't block transactions to those bitcoin addresses
G36 saysAre you depressed?
Projecting much? You can't even mention ONE place you've traveled.
I reckoned that he was frustrated about stuff and all that travel was to run away from what bothered him.
WookieMan saysG36 saysAre you depressed?
Projecting much? You can't even mention ONE place you've traveled.
I dunno about that. For a few years before he took his life, a friend of mine was doing more and more frequent leisure travel, bringing along his partner and kids.
I reckoned that he was frustrated about stuff and all that travel was to run away from what bothered him. The problem with that, is you have to return. The travel is only a temporary escape.
I knew he was frustrated, and angry, but I didn't know he was depressed. Now he's "escaped" for permanent.
So that's another way of looking at frequent travel. So without knowing more, I would not mock someone who hasn't boasted about travel.
He is spot on in regards to
B.A.C.A.H. saysWookieMan saysG36 saysAre you depressed?
Projecting much? You can't even mention ONE place you've traveled.
I dunno about that. For a few years before he took his life, a friend of mine was doing more and more frequent leisure travel, bringing along his partner and kids.
I reckoned that he was frustrated about stuff and all that travel was to run away from what bothered him. The problem with that, is you have to return. The travel is only a temporary escape.
I knew he was frustrated, and angry, but I didn't know he was depressed. Now he's "escaped" for permanent.
So that's another way of looking at frequent travel. So without knowing more, I would not mock someone who hasn't boasted about trav...
Really great post! People who are depressed and hate where they live always want to get away. Problem is, they have to go back to their hole because they cant afford to move!
Sorry @WookieMan
People who are depressed and hate where they live
A temporarily escape
Nah. When you travel enough it's life. It's normal. Living in piss, shit, tent encampments and needles sounds awful. Only being able to afford a bike for entertainment also is awful. I'm actually substantially better off. It feels good. You make me laugh on a daily basis. Thanks.
Just because G36 doesn't boast about travel doesn't mean s/he doesn't do it and enjoy it. It just means s/he doesn't boast about it. Same goes for me.
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Just for some fun, I've decided to run a weekly price bar chart, with Fibonaccis on the whole thing ...
Here's the scoop, now that bigger institutes, along with the retail traders are into this speculation, there are actually trading zones for this thing because there are lots of players, not just the penny stock speculators.
So since last week's bearish candle engulfs the prior week's bullish one, we're on a retest of the price near the 0.618% Fibonacci retracement level. If that level holds, we have a bounce in place ... ready to go.
If it falls through that region w/ no intraweek support, then it falls to the next trading zone, and so on.
For this to be a bust, it needs to get back to the baseline.
I suspect that the big fish will issue a huge buyback in the 23K range, if not earlier (29K-35K). Sure, this thing may evaporate in the future if the concept of digital gold doesn't hold but between now and then, this is a trader's entity.