Bitcoins are officially donkdown

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Originally Posted by sonatine

https://i.pinimg.com/originals/fc/b7...ad655c063d.gif

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My point is was and always has been this. If you have held BTC at any point of the last 10 years you had a huge capital appreciation unless you bought yesterday for the first time. If you are “liquid as fuck” and own your house and have no debit and you want to continue to gamble that the price will go higher than here my hat is off to you.

If you had 100K worth of BTC Last March and yesterday it was worth $1M and you have a mortgage and car loans and a couple of credit cards you are crazy for not selling half and paying everything off.

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Originally Posted by Daly

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Originally Posted by sonatine

https://i.pinimg.com/originals/fc/b7...ad655c063d.gif

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My point is was and always has been this. If you have held BTC at any point of the last 10 years you had a huge capital appreciation unless you bought yesterday for the first time. If you are “liquid as fuck” and own your house and have no debit and you want to continue to gamble that the price will go higher than here my hat is off to you.

If you had 100K worth of BTC Last March and yesterday it was worth $1M and you have a mortgage and car loans and a couple of credit cards you are crazy for not selling half and paying everything off.

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my concern is if you held since entering a position last march, the odds are very good that you'll never sell, and in a few years youll be staring at grocery money in your account where there was once grocery store money.

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Originally Posted by sonatine

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Originally Posted by Daly

My point is was and always has been this. If you have held BTC at any point of the last 10 years you had a huge capital appreciation unless you bought yesterday for the first time. If you are “liquid as fuck” and own your house and have no debit and you want to continue to gamble that the price will go higher than here my hat is off to you.

If you had 100K worth of BTC Last March and yesterday it was worth $1M and you have a mortgage and car loans and a couple of credit cards you are crazy for not selling half and paying everything off.

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my concern is if you held since entering a position last march, the odds are very good that you'll never sell, and in a few years youll be staring at grocery money in your account where there was once grocery store money.

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Exactly - but I’m willing to admit it might go to 300K someday which means there is a risk to selling. My point is take the bird in hand because you will never regret selling half now if it means you are truly
Financially independent even if it goes to $1M a coin. You still going to be filty rich.

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Back to $35,700.

But the crash was sobering. Many thought it would just rocket unhindered up to $100k.

Something else to note, in case you want "in":

The higher BTC is, the less upside there is in buying it.

If you buy it at $40k, you only double your money if it goes to $80k, but you lose 75% of your money if it crashes back to $10k.

At this point, some kind of exponential upside (like what existed in early 2016, when it was $400) is pretty much nonexistent.

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Originally Posted by Dan Druff

Back to $35,700.

But the crash was sobering. Many thought it would just rocket unhindered up to $100k.

Something else to note, in case you want "in":

The higher BTC is, the less upside there is in buying it.

If you buy it at $40k, you only double your money if it goes to $80k, but you lose 75% of your money if it crashes back to $10k.

At this point, some kind of exponential upside (like what existed in early 2016, when it was $400) is pretty much nonexistent.

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It just went 10x in a year. It will probably eventually be 10x from the current price.

https://www.nytimes.com/2021/01/12/t...gtype=Homepage

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Stefan Thomas, a German-born programmer living in San Francisco, has two guesses left to figure out a password that is worth, as of this week, about $220 million.

The password will let him unlock a small hard drive, known as an IronKey, which contains the private keys to a digital wallet that holds 7,002 Bitcoin. While the price of Bitcoin dropped sharply on Monday, it is still up more than 50 percent from just a month ago when it passed its previous all-time high around $20,000.

The problem is that Mr. Thomas years ago lost the paper where he wrote down the password for his IronKey, which gives users 10 guesses before it seizes up and encrypts its contents forever. He has since tried eight of his most commonly used password formulations — to no avail.

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:what

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Originally Posted by Dan Druff

Back to $35,700.

But the crash was sobering. Many thought it would just rocket unhindered up to $100k.

Something else to note, in case you want "in":

The higher BTC is, the less upside there is in buying it.

If you buy it at $40k, you only double your money if it goes to $80k, but you lose 75% of your money if it crashes back to $10k.

At this point, some kind of exponential upside (like what existed in early 2016, when it was $400) is pretty much nonexistent.

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I mean the exact same thing could’ve been said when it went from $1 to $10; $100 to $1000, $1000 to $10000 etc so there’s really no way for anyone to know that.

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Originally Posted by Sheesfaced

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Originally Posted by Dan Druff

Back to $35,700.

But the crash was sobering. Many thought it would just rocket unhindered up to $100k.

Something else to note, in case you want "in":

The higher BTC is, the less upside there is in buying it.

If you buy it at $40k, you only double your money if it goes to $80k, but you lose 75% of your money if it crashes back to $10k.

At this point, some kind of exponential upside (like what existed in early 2016, when it was $400) is pretty much nonexistent.

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I mean the exact same thing could’ve been said when it went from $1 to $10; $100 to $1000, $1000 to $10000 etc so there’s really no way for anyone to know that.

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The argument for $1000 is reasonable, but not the others.

There's a ceiling to this, obviously. Will BTC ever be worth a billion each? Obviously not. A million? Unlikely. $100,000? Maybe, but that's probably the top.

I think we're not far from the highest realistic value.

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Originally Posted by Dan Druff

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Originally Posted by Sheesfaced

I mean the exact same thing could’ve been said when it went from $1 to $10; $100 to $1000, $1000 to $10000 etc so there’s really no way for anyone to know that.

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The argument for $1000 is reasonable, but not the others.

There's a ceiling to this, obviously. Will BTC ever be worth a billion each? Obviously not. A million? Unlikely. $100,000? Maybe, but that's probably the top.

I think we're not far from the highest realistic value.

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Again you’re argument is absurd. You are picking a completely arbitrary value with your “reasonable” assessment. By definition there is literally no ceiling. Did you think $1,000 was a reasonable value when bitcoin was worth $16?

Logically, the higher is goes the harder it is for it to continue to go up exponentially which I think is your point; and if so I of course agree with that. But there’s absolutely no way to know for sure and to say there’s a ceiling to an uncapped asset is factually wrong.

Ask people who shorted Tesla stock about the proverbial non-existing ceiling.

I’m not even bullish on bitcoin I’m just calling out you stating your opinion as a fact as you often are apt to do.

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Originally Posted by Sheesfaced

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Originally Posted by Dan Druff

The argument for $1000 is reasonable, but not the others.

There's a ceiling to this, obviously. Will BTC ever be worth a billion each? Obviously not. A million? Unlikely. $100,000? Maybe, but that's probably the top.

I think we're not far from the highest realistic value.

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Again you’re argument is absurd. You are picking a completely arbitrary value with your “reasonable” assessment. By definition there is literally no ceiling. Did you think $1,000 was a reasonable value when bitcoin was worth $16?

Logically, the higher is goes the harder it is for it to continue to go up exponentially which I think is your point; and if so I of course agree with that. But there’s absolutely no way to know for sure and to say there’s a ceiling to an uncapped asset is wrong.

Ask people who shorted Tesla stock about the proverbial non-existing ceiling.

I’m not even bullish on bitcoin I’m just calling out you stating your opinion as a fact as you often are apt to do.

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Of course I don't know the exact ceiling. That part is a guess.

What's not a guess is that we are to the point to where it's nearly impossible for it to go up exponentially, given the unrealistic market cap which would result from it.

When bitcoin was $5 or even $500, that wasn't true.

Right now, the market cap is $661 billion, give or take. The entire US economy was $21.5 trillion in 2019 -- and that was before COVID. See the problem here? How much further up can it go? (Yes, I realize bitcoin is international, but I was stating the two numbers just to show you how absurdly high it already is.)

In March 2016, market cap was about 6.5 billion, so obviously it had room to grow (though clearly it wasn't certain whether it would do so).

what was the ceiling on beanie babies?

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Originally Posted by Dan Druff

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Originally Posted by Sheesfaced

Again you’re argument is absurd. You are picking a completely arbitrary value with your “reasonable” assessment. By definition there is literally no ceiling. Did you think $1,000 was a reasonable value when bitcoin was worth $16?

Logically, the higher is goes the harder it is for it to continue to go up exponentially which I think is your point; and if so I of course agree with that. But there’s absolutely no way to know for sure and to say there’s a ceiling to an uncapped asset is wrong.

Ask people who shorted Tesla stock about the proverbial non-existing ceiling.

I’m not even bullish on bitcoin I’m just calling out you stating your opinion as a fact as you often are apt to do.

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Of course I don't know the exact ceiling. That part is a guess.

What's not a guess is that we are to the point to where it's nearly impossible for it to go up exponentially, given the unrealistic market cap which would result from it.

When bitcoin was $5 or even $500, that wasn't true.

Right now, the market cap is $661 billion, give or take. The entire US economy was $21.5 trillion in 2019 -- and that was before COVID. See the problem here? How much further up can it go? (Yes, I realize bitcoin is international, but I was stating the two numbers just to show you how absurdly high it already is.)

In March 2016, market cap was about 6.5 billion, so obviously it had room to grow (though clearly it wasn't certain whether it would do so).

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And how exactly is the US economy’s market cap correlated to BTC’s market cap?

Again I’m not trying to advocate BTC is going to continue to grow exponentially and think it’s unlikely to continue to do so but you are picking a completely arbitrary point at which to say it no longer has the potential for exponential returns.

The fact that there is a capped supply of BTC definitely is one reason it could continue to grow exponentially though.

Comparing it to the US economy is meaningless.

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Originally Posted by sonatine

what was the ceiling on beanie babies?

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Depends on if you were long calls or short naked calls.

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Originally Posted by Sheesfaced

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Originally Posted by Dan Druff

Of course I don't know the exact ceiling. That part is a guess.

What's not a guess is that we are to the point to where it's nearly impossible for it to go up exponentially, given the unrealistic market cap which would result from it.

When bitcoin was $5 or even $500, that wasn't true.

Right now, the market cap is $661 billion, give or take. The entire US economy was $21.5 trillion in 2019 -- and that was before COVID. See the problem here? How much further up can it go? (Yes, I realize bitcoin is international, but I was stating the two numbers just to show you how absurdly high it already is.)

In March 2016, market cap was about 6.5 billion, so obviously it had room to grow (though clearly it wasn't certain whether it would do so).

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And how exactly is the US economy’s market cap correlated to BTC’s market cap?

Again I’m not trying to advocate BTC is going to continue to grow exponentially and think it’s unlikely to continue to do so but you are picking a completely arbitrary point at which to say it no longer has the potential for exponential returns.

The fact that there is a capped supply of BTC definitely is one reason it could continue to grow exponentially though.

Comparing it to the US economy is meaningless.

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Again, I'm comparing it to the US economy to show the absurd size it's already at.

So do you think it will ever reach 1 billion per coin? I doubt you think that's possible. But why not? I thought you said it's uncapped!

Obviously there's a realistic limit to this. If it grows 10 times what it is now, it will be about 1/3 the size of the entire US economy. If it grows 100x what it is now, it would be about 3x BIGGER than the entire US economy. It grew 100x in the past 46 months, by the way.

The "anything's possible" attitude is what rubes will use to buy in at this point, figuring that it might go up by a factor of 100 once again. I'm here to say that's not happening, and that while I don't know the top point, the days of 100-fold growth are long over.

It could go up 1% a year and that is still considered exponential growth. Any number above 0% will do. There is no other meaning to exponential growth.

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Originally Posted by gimmick

It could go up 1% a year and that is still considered exponential growth. Any number above 0% will do. There is no other meaning to exponential growth.

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That's not the common meaning of it. What argument are you going to make next? That gay people aren't really gay because many aren't happy?

Please keep this "exponential growth" nonsense out of this thread. If you want to continue that dumb debate in the COVID thread, bring it back up over there.

Thank you.

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Originally Posted by Dan Druff

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Originally Posted by gimmick

It could go up 1% a year and that is still considered exponential growth. Any number above 0% will do. There is no other meaning to exponential growth.

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That's not the common meaning of it. What argument are you going to make next? That gay people aren't really gay because many aren't happy?

Please keep this "exponential growth" nonsense out of this thread. If you want to continue that dumb debate in the COVID thread, bring it back up over there.

Thank you.

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Lol it's the only meaning of it. We don't change mathematical terms because retards keep misusing them.

And while we're at it, at 30k BTC would have reached 100k in 121 years with 1% a year.

https://www.rapidtables.com/calc/mat...alculator.html

353 years is the point it breaks 1 million.

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Originally Posted by gimmick

https://www.rapidtables.com/calc/mat...alculator.html

353 years is the point it breaks 1 million.

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Yes, we know things grow a lot at 1% if we give them hundreds of years.

None of that is relevant here. Will you at least agree that people buying in now aren't likely to see growth remotely similar to what we saw the past 5 years?

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Originally Posted by Dan Druff

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Originally Posted by gimmick

https://www.rapidtables.com/calc/mat...alculator.html

353 years is the point it breaks 1 million.

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Yes, we know things grow a lot at 1% if we give them hundreds of years.

None of that is relevant here. Will you at least agree that people buying in now aren't likely to see growth remotely similar to what we saw the past 5 years?

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Of course. There's likely a few percent chance it crashes every year. I wouldn't be too surprised that printing money hasn't partially led to it's current rise. When there's an overflow of investment capital it usually finds it's way to more speculative opportunities.

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Originally Posted by Dan Druff

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Originally Posted by gimmick

https://www.rapidtables.com/calc/mat...alculator.html

353 years is the point it breaks 1 million.

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Yes, we know things grow a lot at 1% if we give them hundreds of years.

None of that is relevant here. Will you at least agree that people buying in now aren't likely to see growth remotely similar to what we saw the past 5 years?

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See this all you had to say. This I can easily agree with as it’s posed as an opinion and not an unknowable fact.

Quick google glance...

https://cointelegraph.com/news/real-...money-printing

...basic QE correlation to BTC...

https://www.cityam.com/the-qe-dystop...coin-adoption/

...and then some numbers from few months ago about companies BTC "investments".

Instead off investing the overflow to marginally losing/neutral it's generally more profitable to go for higher volatility.

Kermit brought him back.

ive thought long and hard about how I think Janet Yelled heading the Fed is going to affect the (crypto) market. And ive come to the conclusion that she is so old school, and probably believes in policies that are actually against of what crypto could possibly be doing, so idk with her. She is sooo old school for sure. It is by design by Biden that I dont think she is a good head of the Fed for the (crypto) markets in General. With all the upward momentum, the one variable I thought wouldnt happen, but could to slow it all down, which was Regulation. And now that possibility, is looking like a very very real possiility. And hour 1 Day 1 Yellen even mentioned the cryptocurrency market and said theyll 'curtail' it. So take that for whatever you feel it to men, but its definitely a very very different week then it was last week, in the Bitcoin world for sure now....

=)

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Originally Posted by garrett

ive thought long and hard about how I think Janet Yelled heading the Fed is going to affect the (crypto) market. And ive come to the conclusion that she is so old school, and probably believes in policies that are actually against of what crypto could possibly be doing, so idk with her. She is sooo old school for sure. It is by design by Biden that I dont think she is a good head of the Fed for the (crypto) markets in General. With all the upward momentum, the one variable I thought wouldnt happen, but could to slow it all down, which was Regulation. And now that possibility, is looking like a very very real possiility. And hour 1 Day 1 Yellen even mentioned the cryptocurrency market and said theyll 'curtail' it. So take that for whatever you feel it to men, but its definitely a very very different week then it was last week, in the Bitcoin world for sure now....

=)

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There are the moderate corporate democrats and there are the progressives. Don’t fall into the libtard trap - there will be legislation introduced for libtard package labeling.

Anyhow..... Elizabeth Warren is who to watch here. She made a lotta anti crypto noise earlier (2018) then went softer during her presidential bid. I think I know what lies at her core. She has a lot of juice politically.

When Liz is able to leave her Senate seat then shit gets real

I’m telling you... Biden is going to looked upon as conservative in coming years.

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Originally Posted by Sanlmar

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Originally Posted by garrett

ive thought long and hard about how I think Janet Yelled heading the Fed is going to affect the (crypto) market. And ive come to the conclusion that she is so old school, and probably believes in policies that are actually against of what crypto could possibly be doing, so idk with her. She is sooo old school for sure. It is by design by Biden that I dont think she is a good head of the Fed for the (crypto) markets in General. With all the upward momentum, the one variable I thought wouldnt happen, but could to slow it all down, which was Regulation. And now that possibility, is looking like a very very real possiility. And hour 1 Day 1 Yellen even mentioned the cryptocurrency market and said theyll 'curtail' it. So take that for whatever you feel it to men, but its definitely a very very different week then it was last week, in the Bitcoin world for sure now....

=)

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There are the moderate corporate democrats and there are the progressives. Don’t fall into the libtard trap - there will be legislation introduced for libtard package labeling.

Anyhow..... Elizabeth Warren is who to watch here. She made a lotta anti crypto noise earlier (2018) then went softer during her presidential bid. I think I know what lies at her core. She has a lot of juice politically.

When Liz is able to leave her Senate seat then shit gets real

I’m telling you... Biden is going to looked upon as conservative in coming years.

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The next domino I expect to fall, or did was the SEC the Regulate and allow an ETF (crypto) to be sold, or did. Then people could get (crypto) exposure without actualy having to buy a bitcoin itself. I still think thats possible, but Yellen wow. It will be interesting to see how this old school minded Adminastration goes about (crypto) now.

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https://www.reuters.com/article/us-c...-idUSKBN2A511T

"Police seize $60 million of bitcoin! Now, where's the password?"

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Originally Posted by TheXFactor

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I’m far from a BTC shill but admit to now being invested.

This article is absolute horse shit. Micro strategy borrowed and diluted to raise cash and put BTC on the balance sheet over 2020 and now the stock is up 800%. They just had a conference on having a Bitcoin treasury and 7000 of companies showed up. Small ones like Disney MGM




Borrowing money to buy BTC isn’t a business model and I think it’s crazy the company is up 800% over it. But to say “there isn’t enough corporate interest right now” might be the most disingenuous thing written I’ve ever seen.

If I’m a CEO and I have operating cash and I can double + my stock price just by buying BTC right now why the fuck wouldn’t I?

The city of Miami is talking going BTC friendly. Paying taxes and fines with it.

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Bitcoin May Never Go Above $ 40,000 Again, JP Morgan Alerts

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So JP Morgan was long. Lyin sacks (well played)


Charlie Mungar and Buffet had some really sage advice during their last meeting regarding managed funds’ awful performance and all that. Listening to Munger (at his age) is like sitting at jesus feet. He’s not human. I’ll try to find something.

JP is the dumb money. AAPL buying back their own stock here has got to give you the “willies” too. You get the drift. You know all this anyway but it’s fun.

BTC $43,855 and rising, thanks to Tesla buying $1.5 billion worth and saying they will probably accept BTC as payment soon.

https://www.cnbc.com/2021/02/08/tesl...n-bitcoin.html

Woke up and checked prices on app and BTC was 39,200
Less than an hour later it was 44,899.
Great way to start the day

ROFL


Article posted on January 5th:


"JPMorgan says bitcoin could rise to $146,000 long term as it competes with gold..."

https://www.cnbc.com/amp/2021/01/05/...mpression=true





Article on January 25th:

"Bitcoin May Never Go Above $ 40,000 Again, JP Morgan Alerts..."

https://www.entrepreneur.com/article...0Bloomberg%20.


And obv today its about 43,000...

It's like they are not even trying to hide the attempts to manipulate

JPMorgan are a joke when it comes wrong bitcoin predictions, almost as bad as sonatine, Krypt and Druff.

They should just admit they don't have a clue and keep quiet.

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Originally Posted by Belly Buster

JPMorgan are a joke when it comes wrong bitcoin predictions, almost as bad as sonatine, Krypt and Druff.

They should just admit they don't have a clue and keep quiet.

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True but they probably know perfectly well what they are doing. If you're a big enough name, sometimes you can bend a price to your benefit by writing whatever is advantageous to you in an article. Not to mention that they and other media probably take big payoffs/bribes by funds to write whatever is going to help them, whether it's true or not.

I bet Bitcoin is going to rocket higher now; its bumped back up to the ATH that it reached this morning. I wouldnt be surprised if it tests 50,000 within a week.

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Originally Posted by Belly Buster

JPMorgan are a joke when it comes wrong bitcoin predictions, almost as bad as sonatine, Krypt and Druff.

They should just admit they don't have a clue and keep quiet.

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I remember you buying big chunks at some point and providing updates.

How are your holdings?