patrick.net

Will it compete with new kids in the block “digital dollars”, “digital euro”, “digital every currency”.

Who cares? Seriously. I'll invest in tangible assets like RE. Hell I'd invest in basketball shoes before BTC. You can flip those for 200% in a week and ship it to someone next day. Sooooooooooo many ways to make money and more money than BTC.

F Bitcoin.

I read Biden wants more regulation on crypto like Bitcoin.

I see that working against it as most embraced Bitcoin because of its independence.

It likely will slide down to 10,000.

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ad says

I read Biden wants more regulation on crypto like Bitcoin.

Looks like ETH after the fork (which they called The Merge) may run into some issues as the majority of Proof of Stake operators are on US soil. Before merge, the majority (?) of Proof of Work miners were outside the US.

Crypto like bitcoin stole some of the liquidity from sliver and gold. It takes liquidity away from other assets as well like real estate and stocks.

And it is touted as a threat to fiat currency.

That is why I do not think it has a favorable future ahead of it.

Unlike crypto, at least with stocks there are ways to determine their value based on revenue and earnings growth, assets minus liabilities, etc.

I know with bitcoin they reduce the number of coins over time to try to make it more scarce and hence more valuable.

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zzyzzx says

Hell you could at least salvage some steel and metals from it if you had a big boat and sub. BTC and crypto is/are spreadsheets. The Titanic is more valuable pulling it up from the bottom of the Ocean. lol.

processing file...

So. How do ya'll feel about the CBDC that is rolling out in the US next July?

Next year?
Bitcoin will land exactly where intrinsic value is.

Treasury’s financial stability watchdog warns cryptocurrencies could threaten safety of U.S. economy

https://www.cnbc.com/2022/10/03/cryptocurrency-treasury-warns-digital-assets-could-threaten-stability-of-economy.html

ad says

I know with bitcoin they reduce the number of coins over time to try to make it more scarce and hence more valuable.

That is not intentional...

WookieMan says

The Titanic is more valuable pulling it up from the bottom of the Ocean. lol.

It's mostly rust by now.

Eric Holder says

WookieMan says

The Titanic is more valuable pulling it up from the bottom of the Ocean. lol.

It's mostly rust by now.

More valuable than a spreadsheet. Right? Weirdo collectors would pay big bucks for parts of that ship. Rust or whatever. Literally anyone can make a crypto currency. Grass can be grown and sold as sod, but it's basically worthless. Crypto is more worthless.

WookieMan says

Crypto is more worthless.

True, as silver has more of intrinsic or tangible value than crypto like bitcoin or shitcoin. I was thinking just of electronics and electrical systems in regards to silver.

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ad says

WookieMan says

Crypto is more worthless.

True, as silver has more of intrinsic or tangible value than crypto like bitcoin or shitcoin. I was thinking just of electronics and electrical systems in regards to silver.

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I'm playing the long game on the down side of crypto. I do think it has one more bounce in it though. 3rd time is the charm of people getting burned holding it. It will never go to zero. But I predict at some future point it will be 3 figures, potentially less. Not a person on this forum or that I've talked with in person can explain the value. It's a way to trade money illegally. Which has value, but most people don't do illegal activities outside of speeding. Or drinking and driving. Crypto cannot help with that. It's there for drugs and crime. Not much else to it.

jykiodfgr says

WTF is this - gay propaganda?

Bitcoin is at same price as it was in 2017.

Its trading sideways or flat since this June.

It likely needs an extended period such as 1 year to trade sideways before it has a breakout and climbs again. Right now a lot are shell shocked given how much Bitcoin dropped.

Need new suckers to come in and buy Bitcoin and to stabilize the price so the shell shocked are willing to buy more Bitcoin.

I would trade a stock like Microstrategy since it owns a large amount of Bitcoin. I use to live near its headquarters in Northern Virginia.

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just_passing_through says

So. How do ya'll feel about the CBDC that is rolling out in the US next July?