[Survivorextreme]

Bitcoin now up over 50% from its low. I think the question in the OP has been answered. Yes Bitcoin and crypto are making a comeback. Just as history has predicted. Bitcoin is unaffected by scams and nefarious actors. People are now learning how to self custody their crypto. Prices will continue to rise and fall as history has shown. I believe this year will not see new all time highs but will continue to gain value regardless. I think it is poised to make huge gains in the coming years.

Some are saying Ethereum could overtake bitcoins market cap this year possibly. It sounds like regulations won’t be coming anytime quickly if at all this year. Bitcoin will be unaffected regardless though, I think.

Many other altcoins are growing as well and the picture looks pretty much unchanged from previous cycles. And that is despite all the scams and crooks.

How many people will look back in 5 years and say they wish they had bought some bitcoin at $16k?

 

[ForumSurvivalist]

Another one bites the dust....

https://www.oann.com/tech/my-big-coin-cryptocurrency/

 

[Survivorextreme]

Bitcoin closes out best January since 2013. Pretty impressive considering the macro economy. I wonder how high it could go this year?

https://finance.yahoo.com/news/bitcoin-closes-out-best-january-since-2013-232215270.html

 

[ForumSurvivalist]

SuperBow lLVII bans cryptocurrency television commercials. Too many investors and traders burned.

 

[SoJ_51]

... Too many investors and traders burned.

Welp... Hard to fix 'FAaFO'...

.02
jd

 

[Velvet Elvis]

Burned more accurately... by FTX, not the entire cryptocurrency landscape.

 

[Chili]

Bitcoin has been the most resilient of the crypto currencies. I think it will make a comeback because of it's blockchain. Personally, I don't trust crypto and prefer more traditional currencies.

 

[Deadmeat99]

SuperBow lLVII bans cryptocurrency television commercials. Too many investors and traders burned.

Great news, the dumb Matt Damon commercial marked the beginning of last year's downturn.

PS: they weren't banned, but continue with your FUD

 

[SoJ_51]

From a Good Friend on another Forum:

"A friend of mine asked me to explain Crypto Currency to him. The following is a story worth reading."

Not long ago, a merchant found monkeys living near a village.

One day he came to the village stating that he wanted to buy monkeys for $100 each.

The villagers thought that the man must be crazy. Why would somebody buy stray monkeys at $100 each?

Still, people caught monkeys and sold them to the Merchant for $100 each.

This news spread like wildfire and more people caught monkeys and sold them to the Merchant.

After a few days, the Merchant announced that he would now buy monkeys for $200 each.

The laziest villagers now ran around to catch the remaining monkeys which they sold at $200 each.

The Merchant then announced that he would buy monkeys for $500 each!

The villagers caught six or seven monkeys, which were all that were left, and got $500 each.

They then waited anxiously for the next announcement.

Then the Merchant proclaimed that he was going on holiday for a week, but when he returned would buy monkeys at $1000 each. He also said that, in his absence, his Employee would be in charge to take care of the monkeys he had purchased. Then the Merchant went on holiday.

The villagers were frantic as there were no more monkeys left for them to sell at $1000 each as promised by the Merchant, but then the Merchant's Employee publicized that he would secretly sell some monkeys at $700 each.

This news spread like wildfire and the next day the villagers queued up near the monkey cage.

The Employee sold all the monkeys at $700 each. The rich villagers bought monkeys in large lots, and the poor borrowed money from money lenders and bought the rest of the monkeys.

The villagers took care of their monkeys and waited for the Merchant to return.

When the Merchant didn't return they searched to for the Employee, but he could not be found either.

Eventually the Villagers realized that they had been duped into buying the useless stray monkeys at $700 each and were now unable to sell them for any amount.

This monkey business is now known as cryptocurrency.

'Bout Spot-On, Imo...

.02
jd

 

[Survivorextreme]

From a Good Friend on another Forum:

"A friend of mine asked me to explain Crypto Currency to him. The following is a story worth reading."

Not long ago, a merchant found monkeys living near a village.

One day he came to the village stating that he wanted to buy monkeys for $100 each.

The villagers thought that the man must be crazy. Why would somebody buy stray monkeys at $100 each?

Still, people caught monkeys and sold them to the Merchant for $100 each.

This news spread like wildfire and more people caught monkeys and sold them to the Merchant.

After a few days, the Merchant announced that he would now buy monkeys for $200 each.

The laziest villagers now ran around to catch the remaining monkeys which they sold at $200 each.

The Merchant then announced that he would buy monkeys for $500 each!

The villagers caught six or seven monkeys, which were all that were left, and got $500 each.

They then waited anxiously for the next announcement.

Then the Merchant proclaimed that he was going on holiday for a week, but when he returned would buy monkeys at $1000 each. He also said that, in his absence, his Employee would be in charge to take care of the monkeys he had purchased. Then the Merchant went on holiday.

The villagers were frantic as there were no more monkeys left for them to sell at $1000 each as promised by the Merchant, but then the Merchant's Employee publicized that he would secretly sell some monkeys at $700 each.

This news spread like wildfire and the next day the villagers queued up near the monkey cage.

The Employee sold all the monkeys at $700 each. The rich villagers bought monkeys in large lots, and the poor borrowed money from money lenders and bought the rest of the monkeys.

The villagers took care of their monkeys and waited for the Merchant to return.

When the Merchant didn't return they searched to for the Employee, but he could not be found either.

Eventually the Villagers realized that they had been duped into buying the useless stray monkeys at $700 each and were now unable to sell them for any amount.

This monkey business is now known as cryptocurrency.

'Bout Spot-On, Imo...

.02
jd

That story has zero correlation with bitcoin and crypto. A person can literally buy and sell assets 24/7. Nobody has to wait on a merchant, that’s more akin to a gold dealer or a bank🙃. Cool story though, I guess.


Edit: Does “your friend from another forum” happen to be from the Buttcoin forum? Seems like much of the strange hatred of bitcoin comes from there.

 

[Survivorextreme]

There’s been a little pullback in the market due to recent news and I wonder if any changes in staking benefits will become widespread? Seems like there is confusion between staking and lending on the part of the SEC. if they go after Coinbase like they did Kraken, I would foresee major pushback

 

[Velvet Elvis]

Whoever authored that monkey story is not only a classic Luddite, but is one who views themself as being far more clever than they actually are.

 

[Survivorextreme]

Whoever authored that monkey story is not only a classic Luddite, but is one who views themself as being far more clever than they actually are.

Yes, that is 30 seconds of my life I wish I could have back, though it was tagged as a “story worth reading” . I’ve noticed much of the anti crypto and bitcoin sentiment is usually based in ignorance, anti-capitalist and anti-freedom liberal Democrat politics, and old people who don’t like new ideas. There is usually very little substance or logical thought as to their illogical hatred of it. Very few reasonable arguments as to why they are against it

 

[Velvet Elvis]

Yes, that is 30 seconds of my life I wish I could have back, though it was tagged as a “story worth reading” . I’ve noticed much of the anti crypto and bitcoin sentiment is usually based in ignorance, anti-capitalist and anti-freedom liberal Democrat politics, and old people who don’t like new ideas. There is usually very little substance or logical thought as to their illogical hatred of it. Very few reasonable arguments as to why they are against it

Its mostly basic ignorance and opposition to change. It’s a financial specific version of “normalcy bias”. Ironic for self identified preppers not to recognize it, though not surprising. I make no pretense that I understand all this new technology, but I can at least recognize that big changes are coming.

 

[Velvet Elvis]

If the concepts of crypto are so unsettling that some refuse to even acknowledge it, this Glenn Beck podcast will reduce them to the fetal position shaking like a scared dog. Huge technological changes to daily life are barreling down the tracks for some of you.

‎The Glenn Beck Program: Ep 172 | How Soon Until AI Replaces YOU? | Jeff Brown | The Glenn Beck Podcast on Apple Podcasts

‎Show The Glenn Beck Program, Ep Ep 172 | How Soon Until AI Replaces YOU? | Jeff Brown | The Glenn Beck Podcast - Feb 11, 2023

podcasts.apple.com

 

[Survivorextreme]

Bitcoin appears to be unaffected from the recent bank issues and has actually gained. The more bitcoin rises amidst bad financial headlines, the more I think people learn to recognize it’s value. The more it can separate from the traditional markets and monetary policy, the more it will gain in value. It is becoming apparent that bitcoin isn’t going anywhere despite the economy...and may continue to outpace other traditional investments and find more use as a currency and medium of exchange. We will see. The controversy, emotions, volatility, news and regulations talk continues to make bitcoin and other crypto interesting to follow

 

[blue123]

While it may be difficult to top SoJ 51 here goes..

Bank Runs Like These Are The Reason Bitcoin Exists

This is an opinion editorial by Julian Liniger, the co-founder and CEO of Relai, a bitcoin-only investment app.
‘ON THE BRINK OF SECOND BAILOUT FOR BANKS’
At its core, Bitcoin is a transaction database. Every 10 minutes, a new collection of such transactions, called a block, is queued up on Bitcoin, immutable for all eternity. Satoshi Nakamoto, the mysterious mastermind behind the first and most popular cryptocurrency, created that first transaction block themself. But Bitcoin is also a political project — at least, the idea behind it was and always will be political. Nakamoto inserted a message into the code that still forms the start of the decentralized Bitcoin database: “The Times 03/Jan/2009 Chancellor on brink of second bailout for banks.”

This political message is as relevant these days as it was in early 2009 when a global financial crisis seethed anger and enraged people worldwide. The banks whose recklessness caused this crisis were not punished, but rewarded with taxpayer money. Governments have claimed since then to have learned their lesson. Janet Yellen, the U.S. secretary of the treasury, famously proclaimed in 2017 that she expects that there will be no new financial crisis “in our lifetimes.” Now, guess what: She was wrong.

https://bitcoinmagazine.com/culture/bank-runs-are-the-reason-bitcoin-exists

 

[cowboy1964]

Crypto and PMs moving up together for the most part, though, as usual, crypto has larger movements.

 

[cowboy1964]

Janet Yellen, the U.S. secretary of the treasury, famously proclaimed in 2017 that she expects that there will be no new financial crisis “in our lifetimes.” Now, guess what: She was wrong.

https://bitcoinmagazine.com/culture/bank-runs-are-the-reason-bitcoin-exists

Not really defending Yellen but she based her prediction on the banking reforms in place at that time, many of which Trump undid, and she warned that doing so would be a mistake.

 

[Explosive]

Bitcoin and crypto will not be allowed to compete with CBDC's