150k bitcoin predicted by lee,,..1 billion by others!!

[engineering]

To be fair, it wasn't like he had the technological ability to just watch three trading-ships idling on the ocean day after day and not shipping anything...

It was a fraud...so you can't go too hard on him for that.

But he did have the capability to know how many ships they had, and probably also how many were under construction, if any.

Hell, he could have just asked around at docks and shipyards. Given the valuation of the South Sea company he should have been tripping over people if they really had a scope of operations to justify their price.

The fact there were only a few ships was the tell. There was no rational way to value the company they way it was. It's like a $100 million dollar deli.

 

[NoahA]

Engage in debate. Arguing is a great way to learn about your argument and someone else's.

This is exactly what I'm doing. And all you're saying once again is how wrong I am. You aren't even thinking that you're the one that might be wrong. I can admit to a few issues that I outline below, but you haven't even once suggested that there is even a small chance that you might be wrong.

Can bitcoin fail? Absolutely, I can admit it. What backs bitcoin? Well, nothing really. That's actually the beauty of it. It doesn't need anything else. Bitcoin has no value outside of the value that we all give. What's the value of the TCP/IP protocol to someone who doesn't have an internet connection? Zero. It can't be used for anything, to them. But this protocol right now powers the entire modern world. You don't think of it like its something you should have in your pocket, but the value is monumental.

Bitcoin has value because of the network effect, very much like the USD actually. USD only has value because everyone knows someone else will take it. Deep down inside, most understand its all just going to be printed and devalued, but if you have dollars, you know you can buy what you need, and this applies to individuals and corporations and governments. People throw in all this stuff about US military, but it just comes down to the utility.

This is what most people can't see. They think there is no value because its not like a company that makes profits, or its not like gold they can touch. But if you consider that money is just a ledger, a way to keep track of what everyone owes eachother, then the best ledger is one that everyone can easily have a copy of a verify, and nobody has any way to cheat and change it because of the huge amount of energy that goes into recording transactions. When everyone is rushing to hold bitcoin, which you can clearly see from the unprecedented ETF growth, you can see that everyone wants a piece of this network. Everyone wants to make sure they can transact in this future world if this will actually underpin the entire global financial system.

Its pretty simple. If you were Russia, would you prefer to have had $300B in USD that the US government froze, of would you prefer to have had it in Bitcoin? (clearly that number is too big right now to have been in bitcoin). Or if you are one of the many people whose banks accounts have been frozen, would you not have thought how nice it would have been to have "money" locked away in a form that nobody could take from you?

Instead of focusing on every possible way to prove to yourself that Bitcoin is a scam and fraud, why don't you try and see the value proposition. Imagine watching the entire auto industry revolution pass you by because you keep saying "cars will never work because you can't feed them hay, and worse, my local farmer who supplies my hay cannot sell me the gas I would need for the car, so this who automobile thing is a scam." You are stuck on silly points in your rationale and completely missing the big picture.

 

[johnarb]

I'm from the school of "you have to do some work and place a value on what you are buying."

Bitcoin is the biggest allocation for me and I have done a lot of work, books, mining, performing transactions, running full nodes, compiling open source software, watching and reading a ton stuff on macro economics and other related subjects

Based on all of the information I have gathered from thousands of hours of research

I have concluded that Bitcoin will go to $1M by the end of this decade 2030

 

[benjamincohen177]

Bearish on it at 10k,20k,30k,40k,50k,60k.Still think they might be right one day.

Broken clock energy.

Word brother.

 

[The_Krakenite]

 

[johnarb]

People say things like this a lot but they don't really try to demonstrate it.

Mathematically, it's not really so.

Have you ever wondered why the stock market is all time high? I don't really follow it that closely, just saw a post somewhere mentioning it and looked at SPY seems to be near 52 week high

There's liquidity flowing everywhere in the world, finding their ways to investable assets, and unfortunately causing inflation of prices for goods and services, heard on the news the tickets for Taylor Swift is very high

Money printing is more sophisticated than just looking at the M2 level, Money is created through credit

I think the US had $2 Trillion of deficit last year, that went to GDP, but I would classify that as money printing, boost the economy

Obfuscation (is that a word) is the name of the game

China injected trillions of $ of liquidity to stimulate their economy after re-opening from Covid, still doing so I believe but their economy is crashing so I guess they need to increase their efforts

Japan and US swap lines ongoing currently to try to stop/slow down the Yen devaluation

The banks were failing last year, and they setup the BTFP, think about it, that must be some kind of money printing otherwise credit contraction as banks would not have been able to lend as they struggled to survive, prevent credit contraction

Perhaps I'm using incorrect terms, but bottom line imho is that more liquidity = money printing

And you're a value investor so good luck to you as the pain trade for the next 2 years will be high inflation, high growth, and all investable assets, to rip higher

Your value investing will be the one to underperform, again,

lots of good being a Buffett disciple will do to your performance as degen investors on high-tech, high-growth will outperform you

Again

Therein lies the rub. Value investing which you advocate for is not working as well as high-tech, high-flyers, high-growth

which begs the question why would you focus your attention criticizing bitcoin instead of perhaps trying to figure out how to increase your portfolio performance to be on par with the stock market performance?

Middle to upper-middle class wealth is being decimated or maybe rather, distributed to the lower end and the high end of the scale

 

[S2007S]

What is really funny is the fact that you think people are buying BTC just for hedging inflation, it's a good investment with or without the inflation, and that is why people will keep buying and buying, and as long as it stays that way regardless of your view of it, it will just keep rising. Times are changing either get on and buy the future, or stay behind on Gold and USD.

Fools game....


It will never be used as a main currency.... people hoping and dreaming about fairytale coins.

 

[S2007S]

Have you ever wondered why the stock market is all time high? I don't really follow it that closely, just saw a post somewhere mentioning it and looked at SPY seems to be near 52 week high

There's liquidity flowing everywhere in the world, finding their ways to investable assets, and unfortunately causing inflation of prices for goods and services, heard on the news the tickets for Taylor Swift is very high

Money printing is more sophisticated than just looking at the M2 level, Money is created through credit

I think the US had $2 Trillion of deficit last year, that went to GDP, but I would classify that as money printing, boost the economy

Obfuscation (is that a word) is the name of the game

China injected trillions of $ of liquidity to stimulate their economy after re-opening from Covid, still doing so I believe but their economy is crashing so I guess they need to increase their efforts

Japan and US swap lines ongoing currently to try to stop/slow down the Yen devaluation

The banks were failing last year, and they setup the BTFP, think about it, that must be some kind of money printing otherwise credit contraction as banks would not have been able to lend as they struggled to survive, prevent credit contraction

Perhaps I'm using incorrect terms, but bottom line imho is that more liquidity = money printing

And you're a value investor so good luck to you as the pain trade for the next 2 years will be high inflation, high growth, and all investable assets, to rip higher

Your value investing will be the one to underperform, again,

lots of good being a Buffett disciple will do to your performance as degen investors on high-tech, high-growth will outperform you

Again

Therein lies the rub. Value investing which you advocate for is not working as well as high-tech, high-flyers, high-growth

which begs the question why would you focus your attention criticizing bitcoin instead of perhaps trying to figure out how to increase your portfolio performance to be on par with the stock market performance?

Middle to upper-middle class wealth is being decimated or maybe rather, distributed to the lower end and the high end of the scale

That's all it is...money printing around the world causing all asset classes to go up up and away....commodity prices surging. Bitcoin surging. Stocks surging. Housing prices surging ...art prices surging. Rolex prices surging....antique and exotic cars surging. Cocoa prices surging. Copper prices surging. Everything and anything is surging....going parabolic....this is not a healthy market ...fear is non existent. ...complacency is climbing higher each day....

Have seen this before and it never ends well....

 

[nitrene]

That's all it is...money printing around the world causing all asset classes to go up up and away....commodity prices surging. Bitcoin surging. Stocks surging. Housing prices surging ...art prices surging. Rolex prices surging....antique and exotic cars surging. Cocoa prices surging. Copper prices surging. Everything and anything is surging....going parabolic....this is not a healthy market ...fear is non existent. ...complacency is climbing higher each day....

Have seen this before and it never ends well....

All that is correct, however as a trader you really have to embrace the bubbles created by an empire on its last days.

If the Fed was serious they would have raised rates to 9% as the Taylor Rule states. They were never serious about it to begin with. As soon as the SVB/Signature Bank/FRC troubles hit you saw their true colors -- flood the system with liquidity, right from Greenspan's solution to the LTCM collapse.

I don't think there is any going back, the current administration doesn't even care about deficits anymore. They have fully embraced MMT, I mean Jared Bernstein (head of Biden's CEA) is talking about it everywhere. All that's left is more & more currency dilution & eventual loss in confidence which ironically will just lead to a parabolic move in all asset classes including cryptocurrencies & the equity markets.

 

[johnarb]

That's all it is...money printing around the world causing all asset classes to go up up and away....commodity prices surging. Bitcoin surging. Stocks surging. Housing prices surging ...art prices surging. Rolex prices surging....antique and exotic cars surging. Cocoa prices surging. Copper prices surging. Everything and anything is surging....going parabolic....this is not a healthy market ...fear is non existent. ...complacency is climbing higher each day....

Have seen this before and it never ends well....

You got it! They will print much more than they did in 2008 and Covid combined, I think there was a paper published by Blackrock or GS back in 2018 outlining the situation

Just like the bulls were crazy to go against the monetary tightening when Powell declared war on inflation, it seems to the bears such as yourself will be making the same mistake during this loose monetary environment


Did you add to your short on mstr at $1600? I'd urge for you to wait until 5/31 for a sell the news after being added to the MSCI world index