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The Bitcoin Thread (price and other bitcoin related topics) - Printable Version

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RE: The Bitcoin Thread (price and other bitcoin related topics) - Foothunter - 03-10-2021

Right now may be a good moment for a long IF we get that bullish MACD cross on the daily. Watch out for an Altcoin correction because they have been pumping like crazy.


RE: The Bitcoin Thread (price and other bitcoin related topics) - churros - 03-25-2021

Having seen the previous crash, I feel like people have lost all sense of perspective. 60k is absolutely vertiginous compared to 20k. They are acting like this is completely normal. Maybe this is chad new paradigm but I'm getting out.


RE: The Bitcoin Thread (price and other bitcoin related topics) - Pavlov's dog - 03-25-2021

I'm not going to put my money where my mouth is, so this is probably completely worthless. Maybe when I have more liquid funds to put in, but certainly not now. As a pretty technical person that's used bitcoin in a number of ways, i think bitcoin could go to 200k in the next 10 years. Without completely draconian government intervention or a major security flaw (i've read the white papers, not likely), it's likely going to get to that number. And I think my estimate is conservative.

The only thing I've really seen that threatens bitcoin is transaction fees. Once upon a time they were very cheap. Now to get a decent transaction time you're looking at 10-20 bucks per transaction. That's a bottleneck in the service I don't think anyone expected. So that is cause for worry. This problem will likely fix itself when volatility stops, or speculation calms down, or even when the average person can afford to be part of the network. But who knows when this is going to happen.

It's volatile though, that's for sure. I don't know how anybody stays with it this long without losing all their hair or turning grey.


RE: The Bitcoin Thread (price and other bitcoin related topics) - SC87 - 03-25-2021

^ A lot of people think we could see 6 figure BTC this year, so I think 200k within 10 years is very conservative, we could even see that within a year.


RE: The Bitcoin Thread (price and other bitcoin related topics) - churros - 03-25-2021

What's the argument for six figure BTC?


RE: The Bitcoin Thread (price and other bitcoin related topics) - Foothunter - 03-25-2021

^Inflation may be an argument in favour, the adoption rate, the whole narrative of oppressive governments vs freedom loving people will also drive more and more people towards Bitcoin, technically (on the daily chart) we are still in a bull market, Bitcoin as deflationary currency, etc...


RE: The Bitcoin Thread (price and other bitcoin related topics) - billydingdong - 03-25-2021

(03-25-2021, 03:54 PM)churros Wrote: What's the argument for six figure BTC?

$100k BTC is only a 2 trillion dollar market cap. It's already passed the psychological hurdle of 1 trillion.

By comparison gold currently sits at $11 trillion.

Btc has a simple value prop that even tech retarded boomers can understand – peer 2 peer, decentralized currency with fixed quantity.

In a macro environment where money supply is literally multiplying every few years, it could become an institutional holding and reserve asset for corporate balance sheets, sovereign wealth funds, and central banks who come to see it as both a hedge and relative safe haven store of value (despite its fluctuations).

Tesla has already laid out a roadmap for doing this.  

It's also becoming increasingly liquid and financialized with ETFs coming in the near future (blackrock, fidelity). 

$100k btc in this cycle is not far fetched at all.


RE: The Bitcoin Thread (price and other bitcoin related topics) - OviOs - 03-25-2021

(03-25-2021, 06:58 PM)billydingdong Wrote:
(03-25-2021, 03:54 PM)churros Wrote: What's the argument for six figure BTC?

$100k BTC is only a 2 trillion dollar market cap. It's already passed the psychological hurdle of 1 trillion.

By comparison gold currently sits at $11 trillion.

Btc has a simple value prop that even tech retarded boomers can understand – peer 2 peer, decentralized currency with fixed quantity.

In a macro environment where money supply is literally multiplying every few years, it could become an institutional holding and reserve asset for corporate balance sheets, sovereign wealth funds, and central banks who come to see it as both a hedge and relative safe haven store of value (despite its fluctuations).

Tesla has already laid out a roadmap for doing this.  

It's also becoming increasingly liquid and financialized with ETFs coming in the near future (blackrock, fidelity). 

$100k btc in this cycle is not far fetched at all.

I think you'll see that by this summer.  It's only a 2X from here.  That said, some alts (theta/tfuel) will probably outperform btc.  Stock-to-flow puts btc at $288K in this cycle (probably ending in Q4 2021 or Q1 2022 with some sort of sharp correction following.


RE: The Bitcoin Thread (price and other bitcoin related topics) - lighter - 04-02-2021

(03-25-2021, 06:58 PM)billydingdong Wrote:
(03-25-2021, 03:54 PM)churros Wrote: What's the argument for six figure BTC?

$100k BTC is only a 2 trillion dollar market cap. It's already passed the psychological hurdle of 1 trillion.

By comparison gold currently sits at $11 trillion.

Btc has a simple value prop that even tech retarded boomers can understand – peer 2 peer, decentralized currency with fixed quantity.

In a macro environment where money supply is literally multiplying every few years, it could become an institutional holding and reserve asset for corporate balance sheets, sovereign wealth funds, and central banks who come to see it as both a hedge and relative safe haven store of value (despite its fluctuations).

Tesla has already laid out a roadmap for doing this.  

It's also becoming increasingly liquid and financialized with ETFs coming in the near future (blackrock, fidelity). 

$100k btc in this cycle is not far fetched at all.
Bitcoin will replace gold as a store of value. It's a terrible currency.

I'm predicting $500,000 BTC in the next decade with a few crashes along the way. 

DeFi will revolutionize finance, too. Personally, I think Ethereum sucks, so I'm long on Polkadot (founded by Dr. Gavin Wood - guy that cofounded Ethereum) as a replacement for that. 

I work in the industry, so here's where I see it heading.

Layer 1s -> Monero, Bitcoin, Polkadot, Ethereum

Everything else related to DeFi will be a layer 2 on Polkadot or Ethereum. All the DeFi layer 1s will die off.


RE: The Bitcoin Thread (price and other bitcoin related topics) - churros - 04-02-2021

Want to lay out your case for Polkadot?


RE: The Bitcoin Thread (price and other bitcoin related topics) - transveganvanlifedigitalnomad - 04-02-2021

once normies get comfortable with the stability and security of bitcoin there's gonna be another huge hack attack most likely by iNsTitUtiONs and the little fags will be left holding the bag. not until it's insured will it be safe


RE: The Bitcoin Thread (price and other bitcoin related topics) - Scythianchad - 04-02-2021

(04-02-2021, 04:39 PM)lighter Wrote:
(03-25-2021, 06:58 PM)billydingdong Wrote:
(03-25-2021, 03:54 PM)churros Wrote: What's the argument for six figure BTC?

$100k BTC is only a 2 trillion dollar market cap. It's already passed the psychological hurdle of 1 trillion.

By comparison gold currently sits at $11 trillion.

Btc has a simple value prop that even tech retarded boomers can understand – peer 2 peer, decentralized currency with fixed quantity.

In a macro environment where money supply is literally multiplying every few years, it could become an institutional holding and reserve asset for corporate balance sheets, sovereign wealth funds, and central banks who come to see it as both a hedge and relative safe haven store of value (despite its fluctuations).

Tesla has already laid out a roadmap for doing this.  

It's also becoming increasingly liquid and financialized with ETFs coming in the near future (blackrock, fidelity). 

$100k btc in this cycle is not far fetched at all.
Bitcoin will replace gold as a store of value. It's a terrible currency.

I'm predicting $500,000 BTC in the next decade with a few crashes along the way. 

DeFi will revolutionize finance, too. Personally, I think Ethereum sucks, so I'm long on Polkadot (founded by Dr. Gavin Wood - guy that cofounded Ethereum) as a replacement for that. 

I work in the industry, so here's where I see it heading.

Layer 1s -> Monero, Bitcoin, Polkadot, Ethereum

Everything else related to DeFi will be a layer 2 on Polkadot or Ethereum. All the DeFi layer 1s will die off.

Many people forget that for most of history gold had primarily ornamental value(case of teeth sometimes medical), now it has an industrial use (conductivity + lack of oxidation) but there  are other adequate synthetic alloys that are much more economic. BTC and crypto isn't going anywhere.

ETH is still mostly a store of value, other projects will eventually surpass it in terms of utility, at least in the short and medium term


RE: The Bitcoin Thread (price and other bitcoin related topics) - akms76 - 04-02-2021

(04-02-2021, 05:15 PM)transveganvanlifedigitalnomad Wrote: once normies get comfortable with the stability and security of bitcoin there's gonna be another huge hack attack most likely by iNsTitUtiONs and the little fags will be left holding the bag. not until it's insured will it be safe

Bitcoin is the Biggest bubble of all time, in the history of mankind. It  will go higher and probably higher than anybody expects but when it's all over it will lose probably 95% of it's value from it's peak( wherever that is).  Central Banks around the world do NOT like Bitcoin, they will ban it eventually.


RE: The Bitcoin Thread (price and other bitcoin related topics) - Viejo Sabio - 04-02-2021

(04-02-2021, 06:54 PM)akms76 Wrote:
(04-02-2021, 05:15 PM)transveganvanlifedigitalnomad Wrote: once normies get comfortable with the stability and security of bitcoin there's gonna be another huge hack attack most likely by iNsTitUtiONs and the little fags will be left holding the bag. not until it's insured will it be safe

Bitcoin is the Biggest bubble of all time, in the history of mankind. It  will go higher and probably higher than anybody expects but when it's all over it will lose probably 95% of it's value from it's peak( wherever that is).  Central Banks around the world do NOT like Bitcoin, they will ban it eventually.

They don't have to officially ban it. What they want to do is ban cash. Doug Casey and some other financial "experts" believe the government will establish their own cryptocurrency, "fed coin" if you will.  https://www.caseyresearch.com/daily-dispatch/fedcoin-will-replace-the-paper-dollar/ I'm far from a financial expert of any kind but I know that for a variety of reasons TPTB want to track all of your financial transactions. That is beyond debate. The elites love the idea of bitcoin, they just want to control any digital currency and right now bitcoin is beyond their control. I don't think bitcoin will end well but then again we are living in dangerous and unpredictable times.


RE: The Bitcoin Thread (price and other bitcoin related topics) - transveganvanlifedigitalnomad - 04-02-2021

We can speculate about an infinite number of possibilities but yes the feds/banks hate it but at the same time want to control iit. However, I wouldn't say it's beyond their control. Fucking crypto couldve been created by the fucking banks as a form of controlled opposition. Who the fuck knows these days. I'm not some conspiracy theorist and flat earthers are retards but I'm having a hard time believing we even put a man on the moon.


RE: The Bitcoin Thread (price and other bitcoin related topics) - Scythianchad - 04-02-2021

(04-02-2021, 09:33 PM)transveganvanlifedigitalnomad Wrote: We can speculate about an infinite number of possibilities but yes the feds/banks hate it but at the same time want to control iit. However, I wouldn't say it's beyond their control. Fucking crypto couldve been created by the fucking banks as a form of controlled opposition. Who the fuck knows these days. I'm not some conspiracy theorist and flat earthers are retards but I'm having a hard time believing we even put a man on the moon.

lizard ppl brah


RE: The Bitcoin Thread (price and other bitcoin related topics) - Scythianchad - 04-02-2021

(04-02-2021, 05:01 PM)churros Wrote: Want to lay out your case for Polkadot?

Alex Becker had a good vid on smartcontracts/coins explaining why

https://www.youtube.com/watch?v=5p8LgjMQbyE&t=981s


RE: The Bitcoin Thread (price and other bitcoin related topics) - churros - 04-11-2021

How do you guys feel about leaving coins on an exchange i.e. binance? I've been taking advantage of their relatively good savings, but is the risk/reward worth it?


RE: The Bitcoin Thread (price and other bitcoin related topics) - Pavlov's dog - 04-11-2021

I don't think you should ever keep any meaningful amount of money on a 3rd party wallet, kind of defeats the point of bitcoin and they can fuck you at any time for any reason.

Bitcoin isn't regulated like stocks or money yet, so it's still kind of the wild west as far as consumer protection laws are concerned


RE: The Bitcoin Thread (price and other bitcoin related topics) - billydingdong - 04-11-2021

(04-11-2021, 01:21 AM)churros Wrote: How do you guys feel about leaving coins on an exchange i.e. binance? I've been taking advantage of their relatively good savings, but is the risk/reward worth it?

I didn't start pulling coins off the exchange into a hardware wallet until I had above $10k, but I'm also not a self-custody maximalist/absolutist.

My position is sizeable now, and I've left around 15% of the total value on coinbase. 

My reasoning is that if the exchange has never been hacked and is recognized as secure enough and if the price goes parabolic in a very short time, I may want quick access to trade and a convenient off-ramp to fiat. I wouldn't want to be scrambling to send the coins I want to trade from a wallet to the exchange when the networks are seeing high volumes.