And who holds most of the gold? It was exactly the banksters who pushed for the gold standard back in the early 20th century. Guys like Rothschild, Warburg and J.P. Morgan. I'm not against it and stack it but it's definitely not the silver bullet some think it is.
Nobody uses Bitcoin for transactions they just use it as a speculative asset. There are better cryptos for actually using as a currency but crypto bros don't see that they just see the value which is ironically in dollars
(In before "actually some people have used Bitcoin as a currency" as that's a tiny fraction of what's happening on the exchanges)
That's correct. It's not being used as currency as much. It's more of an asset that will appreciate in value given the current economic climate and the inevitable future demise of the legacy currencies.
I keep hearing about it and yet BTC is decentralized, limited and encrypted which would make the worst CDBC there is. If anything BTC will assume a much more important role as an alternative currency once the legacy currencies like the USD are rebooted to CBDC. Let's face it, as much as I love gold, we're not going back to the 1600's.
The encryption for Bitcoin is easily broken by the government as it uses an algorithm provided by the NSA. This is shown by criminal seizures throughout the world. Shut down the exchanges and you've effectively shut down Bitcoin since as you've mentioned, Bitcoin is not really used as a currency. The decentralized nature is the only thing it has going for it however since most people don't have custody over their own bitcoins and world governments are setting up sophisticated mining operations it's possible they'll take over with a 51% attack. If that doesn't happen, everything is still traceable by design.
I feel like it's like the covid vaccine, not the end goal in and of itself but a way of getting people ready for more draconian measures. Ingratiate people to this digital money and they'll never turn against it.
But who knows, all I know is the media has been talking about Bitcoin since at least 2013 and from what I know the media stays quiet when they REALLY don't want the people to know about something
$100k for something that really doesn't see much adoption is really crazy.
Don't get me wrong; if you got in on that bubble, more power to you on making that money, but this really is just a bubble because the hype and possibilities have yet to come to fruition after about 20 years and it doesn't look like that's gonna change any time soon.
The stock market hasn't lost 90% of it's value since 1929, and even then I don't think it was that much. I don't think bitcoin is a bubble like tulipmania or the South Sea bubble.
It will drop back to around 60k and OP and other financial gurus here will piss themselves posting about it. Little do they know this will be the new bottom and we'll be ready to stack up and go ride the bull to 250-500k next year.
I literally have doubled my investment. I don't think that's how logic works, bud. Poor people don't hold BTC because they wouldn't be poor if they were smart enough to invest in it.
President Elect. Words matter.
The only way our dollar is fixed is by going back on the Gold Standard.
Gold is just as manipulated as anything else. China's huge discovery of a gold supply for starters.
A fixed money supply, or one that grows at a fixed non-manipulated rate is the better solution.
And who holds most of the gold? It was exactly the banksters who pushed for the gold standard back in the early 20th century. Guys like Rothschild, Warburg and J.P. Morgan. I'm not against it and stack it but it's definitely not the silver bullet some think it is.
I agree 100%, but it must have been nice to be able to go to a bank and tell them you wanted to trade tender for gold.
Ok boomer. The USD is the real shitcoin controlled by the Fed and their money printer, while BTC is the future.
Nobody uses Bitcoin for transactions they just use it as a speculative asset. There are better cryptos for actually using as a currency but crypto bros don't see that they just see the value which is ironically in dollars
(In before "actually some people have used Bitcoin as a currency" as that's a tiny fraction of what's happening on the exchanges)
That's correct. It's not being used as currency as much. It's more of an asset that will appreciate in value given the current economic climate and the inevitable future demise of the legacy currencies.
That does not make Bitcoin the future, although it probably is because it will transition nicely into the digital slave prison envisioned for us
I keep hearing about it and yet BTC is decentralized, limited and encrypted which would make the worst CDBC there is. If anything BTC will assume a much more important role as an alternative currency once the legacy currencies like the USD are rebooted to CBDC. Let's face it, as much as I love gold, we're not going back to the 1600's.
The encryption for Bitcoin is easily broken by the government as it uses an algorithm provided by the NSA. This is shown by criminal seizures throughout the world. Shut down the exchanges and you've effectively shut down Bitcoin since as you've mentioned, Bitcoin is not really used as a currency. The decentralized nature is the only thing it has going for it however since most people don't have custody over their own bitcoins and world governments are setting up sophisticated mining operations it's possible they'll take over with a 51% attack. If that doesn't happen, everything is still traceable by design.
I feel like it's like the covid vaccine, not the end goal in and of itself but a way of getting people ready for more draconian measures. Ingratiate people to this digital money and they'll never turn against it.
But who knows, all I know is the media has been talking about Bitcoin since at least 2013 and from what I know the media stays quiet when they REALLY don't want the people to know about something
False dichotomy.
$100k for something that really doesn't see much adoption is really crazy.
Don't get me wrong; if you got in on that bubble, more power to you on making that money, but this really is just a bubble because the hype and possibilities have yet to come to fruition after about 20 years and it doesn't look like that's gonna change any time soon.
What's your standard OP, for when its aged badly?
20% value loss? 10%? 50%?
With Blackrock and all them buying in? Doubt it. Could happen though.
I bet you a can of Coke it won't, but let's set a timeline. How many years?
The stock market hasn't lost 90% of it's value since 1929, and even then I don't think it was that much. I don't think bitcoin is a bubble like tulipmania or the South Sea bubble.
Still, I may owe you a Coke.
You're assuming BTC is a good ol' bubble but it's a unique thing. You can't predict a black swan.
It will drop back to around 60k and OP and other financial gurus here will piss themselves posting about it. Little do they know this will be the new bottom and we'll be ready to stack up and go ride the bull to 250-500k next year.
It's safe to say there will be a pump and dump at some point. I agree.
"Just two more weeks and it's bursting, I promise". Meanwhile I'll laugh my way to the bank with my BTC winnings.
I literally have doubled my investment. I don't think that's how logic works, bud. Poor people don't hold BTC because they wouldn't be poor if they were smart enough to invest in it.