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Old 05-15-2020, 10:39 PM
Wolf5 Wolf5 is offline
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I expect btc to go to an all time high of between 70 and 240 thousand per coin. It sounds unbelievable, Burt these predictions always sound crazy, until they happen. And My last prediction maws 20,000. So I was off by just a few hundred.
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Old 05-16-2020, 11:47 AM
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I expect btc to go to an all time high of between 70 and 240 thousand per coin. It sounds unbelievable, Burt these predictions always sound crazy, until they happen. And My last prediction maws 20,000. So I was off by just a few hundred.
It's fairly simple economics. The longer BTC's track record, the greater demand despite fairly low utility. With governments around the world printing money nonstop and over-inflating the money supply, the likelihood of BTC gaining value over time is an almost certainty.

I remember selling off BTC under $100 and thinking I made out like a bandit while others told me I was crazy because it would hit 10k. At the time I thought they were crazy and that it was an impossibility but look where we are now. If I had held onto all my BTC I would have been wealthier than anyone on this board but I lacked vision.

It wouldn't take much in the grand scheme of things for BTC to hit 50k and I expect to see it hit that mark at some point in the next five years.
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Old 05-18-2020, 11:44 PM
LoveLife LoveLife is offline
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$608 to $9600
Throw me in that greater fool briar patch
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Old 05-23-2020, 08:29 AM
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$608 to $9600
Throw me in that greater fool briar patch
Gladly pay long term cap gains on an asset that appreciates in this pandemic.
And my BitcoinIRA.com Roth will be tax free when withdrawn.
The Crypto future is looking better with every dollar the FED prints.
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Old 05-23-2020, 04:20 PM
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Gladly pay long term cap gains on an asset that appreciates in this pandemic.
And my BitcoinIRA.com Roth will be tax free when withdrawn.
The Crypto future is looking better with every dollar the FED prints.
No future is looking better with every dollar the Fed prints. Not for folks with piles of dollars, gold, or bitcoins. Not for any person on Earth. What the Fed is doing is absolutely crazy.

When they get done debassing the dollar, they wont be able to start over with another fiat currency (or with a crypto currancy), because there wont be any civil society to work with anymore.

The only real solution, is for the Federal Reserve to stop printing worthless fiat while we still have a country left to rebuild. Since thats not likely, I tell everyone to act as if the dollar is going to disapear within a few months.

Turn all your dollar based investments, into tangible things that might protect you and grow food. Buy a farm and learn to fish, because without a civil society, there wont be anything left to buy with nothing to buy it with.
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Old 05-24-2020, 05:02 AM
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Turn all your dollar based investments, into tangible things that might protect you and grow food. Buy a farm and learn to fish, because without a civil society, there wont be anything left to buy with nothing to buy it with.
Good to have a diversification.
But be careful of buying into the inflation narrative.
Japan has been the leader in QE and they have zero inflation.
Japan owns much of their bonds and a lot of direct investment into their stock market. No inflation.

Demographics and fear make the Japanese horde Yen and not spend.
Plenty of supply and no demand make all goods less expensive.
The USA could be headed for this scenario.
Which would make gold and that farm less expensive in the future.
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Old 06-04-2020, 05:25 PM
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JP Morgan continues its crypto adoption:

https://www.coindesk.com/coinbase-ge...an-bank-report
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Old 06-06-2020, 02:21 PM
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Good to have a diversification.
But be careful of buying into the inflation narrative.
Japan has been the leader in QE and they have zero inflation.
Japan owns much of their bonds and a lot of direct investment into their stock market. No inflation.

Demographics and fear make the Japanese horde Yen and not spend.
Plenty of supply and no demand make all goods less expensive.
The USA could be headed for this scenario.
Which would make gold and that farm less expensive in the future.
no way, americans are the ultimate consumers. People absolutely will not stop spending every penny they make.
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Old 06-08-2020, 12:14 AM
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I havent checked in on this thread in awhile. But I cant believe people are still trying to debate you about the value of crypto.

A better analogy is crypto vs. dollar, not capitalism.

Capitalism is an economic system. Crypto is not an economic system. Crypto is essentially a currency outside of government control.

People speculate on currency all the time, currency speculation is a "zero sum game". Does that make currency the devil's work too?

BTW I do believe that all currency speculation and bitcoin speculation is gambling. There is no "investment".
I'm not actually debating anything... but rather simply stating my view.

And I'm certainly not debating crypto versus dollar... but rather decent values versus rotten values.

There is a HUGE difference between the win/win transactions of Capitalism... and the win/lose crypto transactions. For these two are complete polar opposites, as one represents an ethical system of decent Americans... while the other represents clever devious scammers all trying to prey upon each other for their own gain at the loss of others.

In Capitalism BOTH PARTIES BENEFIT from voluntary ethical equitable value for value transactions.

While in crypto transactions... NO ONE CAN GAIN UNLESS SOMEONE ELSE LOSES.

Only the unethical cheats refuse to acknowledge this obvious difference.
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Old 06-08-2020, 09:25 AM
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Originally Posted by txprep View Post
I havent checked in on this thread in awhile. But I cant believe people are still trying to debate you about the value of crypto.

A better analogy is crypto vs. dollar, not capitalism.

Capitalism is an economic system. Crypto is not an economic system. Crypto is essentially a currency outside of government control.

People speculate on currency all the time, currency speculation is a "zero sum game". Does that make currency the devil's work too?

BTW I do believe that all currency speculation and bitcoin speculation is gambling. There is no "investment".
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Originally Posted by txprep View Post
I havent checked in on this thread in awhile. But I cant believe people are still trying to debate you about the value of crypto.

A better analogy is crypto vs. dollar, not capitalism.

Capitalism is an economic system. Crypto is not an economic system. Crypto is essentially a currency outside of government control.

People speculate on currency all the time, currency speculation is a "zero sum game". Does that make currency the devil's work too?

BTW I do believe that all currency speculation and bitcoin speculation is gambling. There is no "investment".
I cannot tell what percentage of crypto users are transferring money and those holding for appreciation.

It seems to me the only functional use is the transfer of money. Yes, there are a few retailers that accept crypto currencies but at a risk and with some inconvenience. I doubt they do little more than give the little guy as way to unload some crypto.

So, it seems to me that the service function is the key to its price support. I believe the investment banks getting onto the crypto exchange business is proof of the transferring money service.

How they involve themselves in the transaction and keep the transactions secret I do not know, and I doubt. My guess it is a form of one-sided money laundering. Where secretly funds are moved from a foreign country into the USA and converted to USD.
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Old 06-08-2020, 07:29 PM
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I cannot tell what percentage of crypto users are transferring money and those holding for appreciation.

It seems to me the only functional use is the transfer of money. Yes, there are a few retailers that accept crypto currencies but at a risk and with some inconvenience. I doubt they do little more than give the little guy as way to unload some crypto.

So, it seems to me that the service function is the key to its price support. I believe the investment banks getting onto the crypto exchange business is proof of the transferring money service.

How they involve themselves in the transaction and keep the transactions secret I do not know, and I doubt. My guess it is a form of one-sided money laundering. Where secretly funds are moved from a foreign country into the USA and converted to USD.
I suspect one of the big reasons bitcoin originally jumped was because chinese were using it to move massive amounts of currency. Once china banned it, bitcoin took a huge hit. So yes "illegally" moving money past borders is one use.

Another use is legally moving money as an alternative to western union. The ability to clear transactions is much faster than traditional means where the recipient has to wait to make sure there was no fraud and the money transferred is legit. Banks are very excited about this. Western union better get on board or they are dead.

Finally, in countries where hyperinflation is happening, many people cannot get their hands on foreign currency as it is physically restricted and so local prices are inflated. With crypto currency they can hold their money in bitcoin and not have any worse prices than anyone else anywhere in the world.
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Old 06-09-2020, 05:58 PM
PalmettoTree PalmettoTree is offline
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I suspect one of the big reasons bitcoin originally jumped was because chinese were using it to move massive amounts of currency. Once china banned it, bitcoin took a huge hit. So yes "illegally" moving money past borders is one use.

Another use is legally moving money as an alternative to western union. The ability to clear transactions is much faster than traditional means where the recipient has to wait to make sure there was no fraud and the money transferred is legit. Banks are very excited about this. Western union better get on board or they are dead.

Finally, in countries where hyperinflation is happening, many people cannot get their hands on foreign currency as it is physically restricted and so local prices are inflated. With crypto currency they can hold their money in bitcoin and not have any worse prices than anyone else anywhere in the world.
So far I am ahead of inflation with my investments.

I have lost so many thing saved on computers. I sure as heck am not going to put my money in cyberspace. It seems I have failed to make a lot of money having faith in such things but I'm doing OK.
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Old 06-09-2020, 09:43 PM
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I'm not actually debating anything... but rather simply stating my view.

And I'm certainly not debating crypto versus dollar... but rather decent values versus rotten values.

There is a HUGE difference between the win/win transactions of Capitalism... and the win/lose crypto transactions. For these two are complete polar opposites, as one represents an ethical system of decent Americans... while the other represents clever devious scammers all trying to prey upon each other for their own gain at the loss of others.

In Capitalism BOTH PARTIES BENEFIT from voluntary ethical equitable value for value transactions.

While in crypto transactions... NO ONE CAN GAIN UNLESS SOMEONE ELSE LOSES.

Only the unethical cheats refuse to acknowledge this obvious difference.
The tipping point is nearly here.
https://www.forbes.com/sites/jasonbr.../#31b7caac6c9b

When paper fiat is gone, you will be forced to use crypto.
Typewriter ribbon. Buggy whip. Rotary dial telephone. Fiat currency.
Better read up on digital wallets!
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Old 06-09-2020, 10:14 PM
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Originally Posted by PalmettoTree View Post

It seems to me the only functional use is the transfer of money.

BINGO.
Reread your own quote:
“It seems to me the only functional use is the transfer of money.”

P2P. B2B. Online purchases. Cross border remittances. Tax payments. Internet of Things. Tokenized stocks and real estate. Smart contracts. Any type of financial vehicle or transaction. Any type of money transfer.

Crypto will move all the money. It is faster, cheaper and safer than all other forms of transport. The debate is over. Even Jamie Dimon is onboard. The only roadblock is societal resistance to change. But especially in today’s world, cheaper and faster will win every time!
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Old 06-09-2020, 10:35 PM
LoveLife LoveLife is offline
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So far I am ahead of inflation with my investments.

I have lost so many thing saved on computers. I sure as heck am not going to put my money in cyberspace. It seems I have failed to make a lot of money having faith in such things but I'm doing OK.
Do you use email?
Do you understand the intricacies of how it works?
Do you know the route it takes to get to its destination?

Crypto will be the same. Seamless.
You need to send $100 to your daughter in the UK.
Settlement will take a minute, cost you a couple dollars, and she will receive Pound Sterling.
You won’t know what crypto was used.
You won’t know how it was routed.
But like the email, it will be fast, efficient, and 99.99% of the time successful.
In the unlikely event it doesn’t arrive, you will be able to track it like a UPS shipment.
Try that using your local bank and the SWIFT system.
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Old 06-15-2020, 01:04 AM
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So far I am ahead of inflation with my investments.

I have lost so many thing saved on computers. I sure as heck am not going to put my money in cyberspace. It seems I have failed to make a lot of money having faith in such things but I'm doing OK.
Mine track inflation so I'm happy.

I use my business to generate more than enough profit to meet all of our needs and wants.

Electronic storage of value in the virtual world is way foo fragile and ephemeral.

I like the old fashioned American way of simply looking in my pocket to see what I have.
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Old 06-15-2020, 06:37 AM
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Mine track inflation so I'm happy.

I use my business to generate more than enough profit to meet all of our needs and wants.

Electronic storage of value in the virtual world is way foo fragile and ephemeral.

I like the old fashioned American way of simply looking in my pocket to see what I have.
Maybe, maybe not.
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Old 06-15-2020, 07:53 AM
rriley rriley is offline
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Originally Posted by LoveLife View Post
$608 to $9600
Throw me in that greater fool briar patch
The high of bitcoin was actually $19,498. It's $9,110 this morning so it's down more than 50% from the highs.
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Old 06-16-2020, 01:12 PM
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The high of bitcoin was actually $19,498. It's $9,110 this morning so it's down more than 50% from the highs.
So very sorry to hear that you bought at the top.
No one I know was that crazy.
I bought my very first bitcoin for $100 in Hong Kong.
I am very satisfied with the performance of my crypto portfolio.
I am extremely optimistic about crypto’s future.

Do the homework and you will find that the institutions like Fidelity and Charles Schwab are entering the space.
Grayscale is buying bitcoin with both fists.
https://news.bitcoin.com/grayscale-b...tal-btc-mined/
Countries, like Brazil, are diving into crypto.
https://www.theverge.com/2020/6/15/2...l-facebook-pay
Trump will jump on board soon. Accenture is a partner with Ripple.
https://www.digitaldollarproject.org/

Fiat is dead. The FED is flooding the world with depreciating dollars.
https://www.usatoday.com/in-depth/mo...ed/3038117001/

There will probably be a stimulus package. FNSTX and the other infrastructure ETFs have been doing well lately.
https://www.whio.com/news/trending/n...MQPGEWCPJRLGU/

And then watch crypto take off.
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Old 06-16-2020, 01:19 PM
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Originally Posted by manimalist View Post
Mine track inflation so I'm happy.

I use my business to generate more than enough profit to meet all of our needs and wants.

Electronic storage of value in the virtual world is way foo fragile and ephemeral.

I like the old fashioned American way of simply looking in my pocket to see what I have.
What will you do when the world goes paperless?
Corona virus is already making paper dollars non grata.
Besides, much easier to glance at your smart phone to “see what I have”.
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