Why the hell is a bitcoin $608 right now? All bitcoin/crypto currency threads merged

[LoveLife]

Originally Posted by Crackshot

This is starting to sound like the 1990s tech boom, where everyone had to have one and very few had any real value. The shakeout will be interesting to watch.

As evilwhitey said, the market doesn’t need 3000 coins.
But since many crypto’s have different use cases and are targeting
diverse industries, it is possible that dozens will thrive,
and maybe a hundred will survive.

While many dot.com’s went out of business, a few went on to glory.
Crypto will be the same.
Chose wisely, and you could ride the next “Amazon” to generational wealth.

[LoveLife]

A central bankers perspective:

https://youtu.be/ad_A5v0d9hc

[Deadmeat99]

Originally Posted by LoveLife

And for the privilege of having your token on their exchange,
coinbase will only give you a 30% haircut.
If you self bake, you can retain all 7.3% ROI for yourself!

Yeah but you need 8000 tezos to bake, so roughly $10k. This lets the little guy into the realm of proof of stake.

[LoveLife]

Originally Posted by Deadmeat99

Yeah but you need 8000 tezos to bake, so roughly $10k. This lets the little guy into the realm of proof of stake.

True statements.
But as soon as someone attains 8000,
get the XTZ off the exchange and self bake.

A baking roll used to be 10000.
I trust that number will continue to decline as Tezos matures.

I participated in the ICO.
The first 2 years were excruciating (launching delays, law suit, price erosion, haters).
But XTZ is up 4x over the ICO price (20% ICO coin bonus)....
and it offers a 7% APR dividend (in XTZ).
I love compounding.

Token building on Tezos should grow exponentially:
https://finance.yahoo.com/news/why-b...160005789.html

[LoveLife]

Who says the Chinese Communist Party doesn’t understand capitalism?
I think they understand it better than Bernie Sanders does!
https://u.today/crypto-could-be-used...newspaper-says

[LoveLife]

Crypto is more than just bitcoin:
https://www.newsbtc.com/2019/11/13/v...ns-the-crypto/

Vechain costs less than a penny.

[LoveLife]

Banks are running scared.
The SHTF value in crypto:

https://cryptonews.com/news/cryptowo...pal-c-5093.htm

[PalmettoTree]

Originally Posted by LoveLife

Banks are running scared.
The SHTF value in crypto:

https://cryptonews.com/news/cryptowo...pal-c-5093.htm

Ain't no body scared of crypto currencies.

[LoveLife]

https://www.ccn.com/top-economist-wa...ce-under-1000/

“Alex Kruger, an economist and trader, took to Twitter to share his thoughts on how anyone can eliminate bitcoin for good. The economist claims that any government can kill bitcoin by keeping the price below $1,000.”

Taxpayer money being used to manipulate market prices.
Sounds a lot like what governments have been doing to gold and oil.

[LoveLife]

Originally Posted by PalmettoTree

Ain't no body scared of crypto currencies.

Really?
I think you just lost whatever financial credibility you had left.
Palmettotree in multifaceted denial.


People including Palmettotree:
https://due.com/blog/3-reasons-peopl...ency-shouldnt/

Governments:
https://www.investopedia.com/article...id-bitcoin.asp

Fed:
https://www.forbes.com/sites/billyba.../#11f100a76405

President Trump:
https://reason.com/2019/07/16/trump-...rs-about-cash/

“It's obvious that complaints about cryptocurrencies blend almost seamlessly with concerns about traditional currency. Both offer the potential for direct transactions free of intermediaries and oversight. The debate isn't about bitcoin, or cryptocurrency, or cash and coins—it's about whether we should be free to live unmonitored lives.”

Exactly!!
Except fiat is centralized and inflationary.
Crypto is decentralized and deflationary.

[sierra skier]

If the prices of our food items went up like cryptos have it would not be thought of as deflationary.

The only reason fiat is inflationary is because the governments keep printing,,,,,,,, Kind of like cryptos, they keep making new ones and diluting the market.

Where exactly did you come up with the deflationary aspect for cryptos?

[LoveLife]

Originally Posted by sierra skier

Where exactly did you come up with the deflationary aspect for cryptos?

Bitcoin is (as are most altcoins) deflationary because it has a finite quantity:
https://charts.bitcoin.com/btc/chart/inflation#5moc

And because it’s mining reward gets cut in half on a regular basis:
https://blockonomi.com/bitcoin-deflation/

The effect of crypto on the financial industry is deflationary:
https://cointelegraph.com/news/finan...t-says-analyst

Or you can tweek crypto into whatever the market is interested in backing:
https://cryptoticker.io/en/simulate-...ion-deflation/

Crypto is everything that fiat would like to be.

[LoveLife]

Originally Posted by sierra skier

If the prices of our food items went up like cryptos have it would not be thought of as deflationary.

You are mixing apples with oranges. When this thread started, bitcoin was at $608. It is now $8000. $608 of groceries could fill an SUV. Today 1 bitcoin of groceries could fill a dozen SUVs. In terms of 1 BTC, the price of food has dropped over 90% in 2 years. Not one housewife in America would be unhappy with that deflationary situation!! I know...that is mind blowing
Of course, that housewife needed her husband to have the moxie to get beyond the “Ponzi scheme” meme
in order to benefit from the increase in bitcoin’s purchasing power!

Originally Posted by sierra skier

The only reason fiat is inflationary is because the governments keep printing,,,,,,,, Kind of like cryptos, they keep making new ones and diluting the market.

Agree on the lunacy of fiat printing.
Disagree on the “making of new ones”.
The market will decide who is successful and what coin is not.
(Until recently, USD hasn’t had any competition. Anyone think a financial monopoly is a good thing?)

A few years ago, who would have ever thought we would require the plethora of mobile phones, tablets, or televisions? Diversity in functionality, a wide price structure, improve quality, better user friendliness, AND ongoing price reductions.
Crypto is exactly the same. There are hundreds of different use cases.
Bitcoin is a store of value like gold.
Ether is focusing on dApps and smart contracts.
Ripple (XRP) is focused on remittances.
Tezos on tokenization.
IOTA on the internet of things (IoT).
VeChain on supply chain.
The coins have some overlapping competitiveness (and the above is not fully comprehensive).
3000+ coins is excessive and there will be a thinning of the herd.
However, several hundred will survive.
And several dozen will be outrageously successful.

[rriley]

Bitcoin $7,105 now.

Doesn't look like much support until just under $4,000.

[LoveLife]

Originally Posted by rriley

Bitcoin $7,105 now.

Doesn't look like much support until just under $4,000.

Crypto is a great trading investment!
Plenty of dips to purchase.
Plenty of FOMO runs to profit from.

If one believes that this technology will change the world,
then missing the exact bottom or top is not catastrophic.
In five years, the best digital assets will be up 10x+.
Higher highs and higher lows will bailout all but the most incompetent investors...
those that get scared and sell if the investment tanks more than 8%!

Bitcoin, at one point yesterday was down 12%.
Palmettotree would have permanently locked in his loss.

[prankster]

We don't want no stinkin' bittulips!!

[LoveLife]

Originally Posted by prankster

We don't want no stinkin' bittulips!!

Then you had better keep your head firmly planted in the sand,
because crypto is here little buddy.

https://www.forbes.com/sites/stevene.../#6794d5ec1c85

Both the U.S. and the Chinese Presidents are holding press conferences to discuss crypto.

The ECB is talking about it:
https://www.bloomberg.com/news/artic...ng-environment

Elan Musk, Bill Gates, Mark Zuckerberg, CZ Binance, etc. Movers-n-shakers... all discussing.

My favorite:
https://bitcoinexchangeguide.com/car...o-unstoppable/

Arguably the smartest man on the planet says “ Crypto is the future”
He calls it “unstoppable”.
Preach it Charles!

2 years ago it was fashionable to belittle crypto.
2019 was the year of relevancy.
2020 will be the year of adoption.
China and the EU will have a digital coin. Indian, Russia maybe.
Slothful USA, probably not.
2021 crypto will be ubiquitous.
2025, people will lament their missed financial opportunity of a lifetime.

Wake up and smell the bittulips ！

[prankster]

Originally Posted by LoveLife

Then you had better keep your head firmly planted in the sand,
because crypto is here little buddy.

https://www.forbes.com/sites/stevene.../#6794d5ec1c85

Both the U.S. and the Chinese Presidents are holding press conferences to discuss crypto.

The ECB is talking about it:
https://www.bloomberg.com/news/artic...ng-environment

Elan Musk, Bill Gates, Mark Zuckerberg, CZ Binance, etc. Movers-n-shakers... all discussing.

My favorite:
https://bitcoinexchangeguide.com/car...o-unstoppable/

Arguably the smartest man on the planet says “ Crypto is the future”
He calls it “unstoppable”.
Preach it Charles!

2 years ago it was fashionable to belittle crypto.
2019 was the year of relevancy.
2020 will be the year of adoption.
China and the EU will have a digital coin. Indian, Russia maybe.
Slothful USA, probably not.
2021 crypto will be ubiquitous.
2025, people will lament their missed financial opportunity of a lifetime.

Wake up and smell the bittulips ！

Oh, are you in for a surprise!

[LoveLife]

Originally Posted by prankster

Oh, are you in for a surprise!

Thank you.
$608 to $7000+ has already been somewhat surprising, but definitely enjoyable.
And it ain’t over yet.
The SB haters in this thread have been wrong for 2 straight years!

Do the research.
Crypto is a technology juggernaut.
It will impact every industry and it will transform most of them.

The prices will be volatile. This investment is not for school girls.
In the mean time, it has been the overall best investment in 2019,
and the best investment of the last decade, bar none.

[prankster]

Originally Posted by LoveLife

Thank you.
$608 to $7000+ has already been somewhat surprising, but definitely enjoyable.
And it ain’t over yet.
The SB haters in this thread have been wrong for 2 straight years!

Do the research.
Crypto is a technology juggernaut.
It will impact every industry and it will transform most of them.

The prices will be volatile. This investment is not for school girls.
In the mean time, it has been the overall best investment in 2019,
and the best investment of the last decade, bar none.

You're doing great! Not all that long ago many many people thought they were doing great as they put all their $$$ with Uncle Bernie! Everybody is going through life on their own little rocket ship! I hope you do well, I really do.