The Bitcoin Thread (price and other bitcoin related topics)
Any price prediction is by definition speculation.

And there's no runner up in the crypto race. Its BTC and everyone else isn't even making it on the podium.
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(09-24-2020, 05:45 AM)You Rfloridaman Wrote: Any price prediction is by definition speculation.

And there's no runner up in the crypto race. Its BTC and everyone else isn't  even making it on the podium.
Well those others crypto currencies are preventing BTC from making upward moves and will ultimately prevent this mass adoption pipe dream you’re pinning your hopes on.  

You’d be better off starting a business to become wealthy than falling for the BTC millionaire dupe.  But it’s your money; do as you wish with it.
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(09-24-2020, 05:45 AM)floridaman Wrote: Any price prediction is by definition speculation.

And there's no runner up in the crypto race. Its BTC and everyone else isn't  even making it on the podium.

Not true at all

Bitcoin is losing the race big time in: ecosystem devs, enterprise adoption, and now transaction fees.

As of now, Ethereum is generating higher transaction fees by several multiples which is indicative of greater value and utility — people are willing to PAY more to use the network.

Bitcoin is still on top in terms of recognition and market cap, but so was MySpace.
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I literally don't know a single person in real life that owns ethereum or even knows what it is.
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(09-24-2020, 06:32 PM)floridaman Wrote: I literally don't know a single person in real life that owns ethereum or even knows what it is.

I literally don't know a single person who uses Bitcoin for commercial transactions.

Saying that Bitcoin is 'the only one at the podium' when it's barely relevant and losing on a lot of key metrics is premature.
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(09-24-2020, 06:32 PM)floridaman Wrote: I literally don't know a single person in real life that owns ethereum or even knows what it is.

Maybe that is why they are doing better than you while you are waiting around for a BTC to make you into a sudden billionaire.

I need to do some research into BTC maximalists.  There is definitely a psychological dimension to their religious cult-like hopes for BTC.
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Lol we need JJG back in here.

(09-24-2020, 06:47 PM)Contrarian Expatriate Wrote:
(09-24-2020, 06:32 PM)floridaman Wrote: I literally don't know a single person in real life that owns ethereum or even knows what it is.

Maybe that is why they are doing better than you while you are waiting around for a BTC to make you into a sudden billionaire.

I need to do some research into BTC maximalists.  There is definitely a psychological dimension to their religious cult-like hopes for BTC.

Hard to deal with boomer think. 

I don't rely on bitcoin as an investment. I've said that half a dozen times already but it never seems to sink in lol. 

I have passive investment earnings, some of which are in bitcoin. And I use btc to buy stuff almost daily. 

While I do think there will be opportunities to ride speculative waves to great profit, that's just icing on the cake for me. My interest in it is utilitarian and as a hedge again fiat currencies which are on the way out.
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(09-24-2020, 07:26 PM)floridaman Wrote: Lol we need JJG back in here.

(09-24-2020, 06:47 PM)Contrarian Expatriate Wrote:
(09-24-2020, 06:32 PM)floridaman Wrote: I literally don't know a single person in real life that owns ethereum or even knows what it is.

Maybe that is why they are doing better than you while you are waiting around for a BTC to make you into a sudden billionaire.

I need to do some research into BTC maximalists.  There is definitely a psychological dimension to their religious cult-like hopes for BTC.

Hard to deal with boomer think. 

I don't rely on bitcoin as an investment. I've said that half a dozen times already but it never seems to sink in lol. 

I have passive investment earnings, some of which are in bitcoin. And I use btc to buy stuff almost daily. 

While I do think there will be opportunities to ride speculative waves to great profit, that's just icing on the cake for me. My interest in it is utilitarian and as a hedge again fiat currencies which are on the way out.
Sorry to hear that you are exposing your passive income earnings in BTC.  If you were more sophisticated an investor, you would be investing in various forms of cashflow, not speculative gambles like BTC.  But it's your money, shave away your wealth as much as you wish.

But millennials were never known for giving much credit to anything other than their own misconceptions.
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(09-24-2020, 08:41 PM)Contrarian Expatriate Wrote:
(09-24-2020, 07:26 PM)floridaman Wrote: Lol we need JJG back in here.

(09-24-2020, 06:47 PM)Contrarian Expatriate Wrote:
(09-24-2020, 06:32 PM)floridaman Wrote: I literally don't know a single person in real life that owns ethereum or even knows what it is.

Maybe that is why they are doing better than you while you are waiting around for a BTC to make you into a sudden billionaire.

I need to do some research into BTC maximalists.  There is definitely a psychological dimension to their religious cult-like hopes for BTC.

Hard to deal with boomer think. 

I don't rely on bitcoin as an investment. I've said that half a dozen times already but it never seems to sink in lol. 

I have passive investment earnings, some of which are in bitcoin. And I use btc to buy stuff almost daily. 

While I do think there will be opportunities to ride speculative waves to great profit, that's just icing on the cake for me. My interest in it is utilitarian and as a hedge again fiat currencies which are on the way out.
Sorry to hear that you are exposing your passive income earnings in BTC.  If you were more sophisticated an investor, you would be investing in various forms of cashflow, not speculative gambles like BTC.  But it's your money, shave away your wealth as much as you wish.

But millennials were never known for giving much credit to anything other than their own misconceptions.

Who am I supposed to give credit to exactly? For what? lol

And how I am exposing (part of) my earnings? Its an ownership stake in a business where customers can chose to pay in BTC. Prices denominated in USD. 

Any income or investment is exposed to market forces. That's why the smart kids diversify lol.

You harp a lot about your real estate investments. Those are also heavily exposed to the overall market. We've had what near a decade of almost zero interest rates. Chickens going to come home to roost for that. Thankfully boomers like yourself are too dumb to see it. As they were in 2008. And that's just market forces. When cultural enrichment encroaches on your lands..not sure they'll be your lands anymore lol.
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(09-24-2020, 06:32 PM)floridaman Wrote: I literally don't know a single person in real life that owns ethereum or even knows what it is.

Then you don't know anyone investing in cryptocurrencies.
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(09-25-2020, 03:55 PM)Kentemo Wrote:
(09-24-2020, 06:32 PM)floridaman Wrote: I literally don't know a single person in real life that owns ethereum or even knows what it is.

Then you don't know anyone investing in cryptocurrencies.

That statement doesn't make sense. I know plenty of people holding BTC which is really THE cryptocurrency. 

But sure, generally I avoid cryptocurrency "investors" as they're almost entirely nerds and autistes who've never actually ran a successful business or made real money in their lives.
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^ You mean like those guys on here that have made 6-7 figures from BTC and alts?
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(09-25-2020, 04:48 PM)SC87 Wrote: ^ You mean like those guys on here that have made 6-7 figures from BTC and alts?

Well first of all youre lumping those 2 together when most of the gains are to be had in btc, and all the other cryptos just chase it. 

Secondly I dont think there's too many guys on here making 7 figures from crypto. Actually I'd say none lol.
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(09-24-2020, 11:33 PM)floridaman Wrote:
(09-24-2020, 08:41 PM)Contrarian Expatriate Wrote:
(09-24-2020, 07:26 PM)floridaman Wrote: Lol we need JJG back in here.

(09-24-2020, 06:47 PM)Contrarian Expatriate Wrote:
(09-24-2020, 06:32 PM)floridaman Wrote: I literally don't know a single person in real life that owns ethereum or even knows what it is.

Maybe that is why they are doing better than you while you are waiting around for a BTC to make you into a sudden billionaire.

I need to do some research into BTC maximalists.  There is definitely a psychological dimension to their religious cult-like hopes for BTC.

Hard to deal with boomer think. 

I don't rely on bitcoin as an investment. I've said that half a dozen times already but it never seems to sink in lol. 

I have passive investment earnings, some of which are in bitcoin. And I use btc to buy stuff almost daily. 

While I do think there will be opportunities to ride speculative waves to great profit, that's just icing on the cake for me. My interest in it is utilitarian and as a hedge again fiat currencies which are on the way out.
Sorry to hear that you are exposing your passive income earnings in BTC.  If you were more sophisticated an investor, you would be investing in various forms of cashflow, not speculative gambles like BTC.  But it's your money, shave away your wealth as much as you wish.

But millennials were never known for giving much credit to anything other than their own misconceptions.

We've had what near a decade of almost zero interest rates. Chickens going to come home to roost for that. Thankfully boomers like yourself are too dumb to see it.
I can tell you don't know very much about real estate.  I own multifamily BUILDINGS so I want interest rates to go sky high.  It would prevent people from buying their own homes and the demand and costs for rentals would skyrocket.  And as my rental income skyrockets, the price of the buildings go sky high also because they are cash cows. Please, please, please let that happen! 

But if real estate means nothing but buying a cheap condo, none of that would make any sense.
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(09-25-2020, 04:57 PM)f loridaman Wrote: There's a finite amount of BTC. Meanwhile mass adoption steadily carries on.

What kind of 'mass adoption' with BTC is happening?

Like I said, I literally don't know anybody who uses it for transacting.

floridaman Wrote:But sure, generally I avoid cryptocurrency "investors" as they're almost entirely nerds and autistes who've never actually ran a successful business or made real money in their lives.

That's right, none of those cryptocurrency "investors" made much money in 2017 or this year.

(09-25-2020, 04:57 PM)floridaman Wrote: Well first of all youre lumping those 2 together when most of the gains are to be had in btc, and all the other cryptos just chase it. 

...

Definitely not the case.

This year it's been LINK, DeFi tokens, and ETH that have been the star performers and Bitcoin has been dragged along.

You really don't know what you're talking about.
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(09-25-2020, 10:50 PM)Contrarian Expatriate Wrote: I can tell you don't know very much about real estate.  I own multifamily BUILDINGS so I want interest rates to go sky high.  It would prevent people from buying their own homes and the demand and costs for rentals would skyrocket.  And as my rental income skyrockets, the price of the buildings go sky high also because they are cash cows. Please, please, please let that happen! 

But if real estate means nothing but buying a cheap condo, none of that would make any sense.

I suppose that makes sense if you plan to hold the asset.

Most property developers and asset managers I've known fear rising interest rates due to increasing cost of debt service and also asset depreciation caused by rising cap rates for when it comes time to sell.

If cap rates goes from 8% to 10%, for example, then you need a NOI increase of 25% to maintain similar asset value.

Anyways, agreed that floridaman seems to know fuck all about crypto, real estate, or anything finance related.
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This is a thread about BTC not investments.

Try to stay on topic kids.Smile
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BTC seems to fit in the "investment" category for the average buyer.
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(09-27-2020, 05:08 AM)floridaman Wrote: This is a thread about BTC not investments.

Try to stay on topic kids.Smile

That's funny....  It was you who brought up real estate above to make a factually inaccurate point about it in an effort to rationalize your "Ride Or Die" with BTC posture.  Some readers here wish to know just how superior real estate is vis a vis BTC speculating which is just a variation of the Greater Fool Theory.

The Greater Fool Theory, in short, is buying something with the thin hope that someone down the line will pay more for it than you paid for it.  Meanwhile you are holding something that has little to no tangible value unlike a business or a building that regularly generates profits.  This is where the BTC fanatics get it all wrong.  They'll end up paying for getting it wrong in the end.

If you want to dabble in BTC, please do so.  But if you are making large bets on it hoping it will make you rich, you'd be better off purchasing swamp land in Florida.
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"valued nominally in dollars."

"valued nominally in dollars."

"valued nominally in dollars."

Burn it in to your Brains.
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