Baron's Crypto Trading Journal

[Pekelo]

I have a ponderable for those who believe in crypto as money. Which one would you choose for BTC to happen in the next 10 years?:

1. It would stay where it is right now and fluctuate in a very narrow range. Aka, its value would stay stable for a decade.

2. It would go up to at least $100K in value.


If you chose #1, you are well, a tech lover!!!

 

[NoahA]

If you think that an easily copied, forkable to infinity crypto is the medicine to society's ill, I have nothing to say to you.

There is quite a bit of misinformation in your post. All you deniers think its so easy to just fork the chain and create value out of nothing, but this just shows your ignorance.

Perfect example would be when Trump tried to release his Truth Social app since he got kicked off Twitter. Everyone also told Musk to just start his own vs. paying 44 billion for Twitter. So why in these two cases couldn't these guys just "fork" Twitter by writing some code and releasing their new and better app in the app store?

Furthermore, Bitcoin has already forked, and what is the value of that forked chain?

You see, if you just do a little bit of research and do some critical thinking, you will come to realize how bitcoin is now an unstoppable force. Explain to me how you will create a new blockchain to compete with Bitcoin and how you will initially protect it from attack since nobody will yet be using it, and how you will also ensure that nobody has actual control over it. When a company like Google or Microsoft creates something big, they can put billions behind it because they own it and will reap the rewards. But if you want to create a blockchain that will truly be decentralized and not benefit any one individual, where everyone has just as much right to participate, how do you get this to reach the high level of adoption necessary?

The answer is you don't. There won't be another bitcoin because once you understand all the properties that bitcoin has and try and improve on them, you will be met with multiple roadblocks and conclude that in the end, its just better to use the bitcoin that already exists.

Then we repeat this exercise with all the other FUD out there and before you know it, you're also a bitcoin maximalist!

 

[NoahA]

I already posted many times on ET, and will now poist it a last time:

• I never invest in scams.
• I make more money with much less risk in daytrading the ES.
• I would be an idiot if I would opt for BTC instead of ES.

You say Deaddog does not get it. You have the same problem. You don't get it either. Even my children can read and understand what I wrote above.

I'm not talking about bitcoin as an investment. I am talking about bitcoin as revolutionizing the monetary system. You won't get a choice to invest in it, it will just take over.

 

[NoahA]

First problem is the first word of the above text. IMAGINE.
With imagination you can manipulate everything so that it fits in your story.
I prefer reality instead of imagination. Reality is that 2022 was a disaster for BTC. BTC would go up to 100K or even to 10MM, depending on your imagination.
And you want to replace the government controlled system by an anonymous system controlled by crooks?

Did you ever ask yourself why famous people get paid millions to make publicity for crypto's, telling people they should invest in crypto's? A successful product does not need that, but for a scam it is essential to succeed.

We don't have to imagine the sky high inflation in Turkey, its already happening. And with the US needing to print 1 trillion every year, just to pay the bills, it won't take long to realize the printers need to be turned on big time.

Government controlled systems are the crooks. I like the completely transparent and predictable issuance of bitcoin. Governments only help themselves, don't think for a second they have your back..

Bitcoin doesn't advertise. Yes, celebrities pumped lots of shit coins. You need your brain to separate bitcoin from everything else.

 

[virtusa]

I'm not talking about bitcoin as an investment. I am talking about bitcoin as revolutionizing the monetary system. You won't get a choice to invest in it, it will just take over.

Yeah, and the earth is flat. LOL.

Bitcoin is already over a decade "revolutionizing" the monetary system. After these 14 years in all the shops where I buy I cannot pay with bitcoin.

All real good inventions were all accepted in a very short time.
BTC started in 2008, so 14 years later there is still no acceptance that indicates that BTC will revolutionize the monetary world. If you replace the monetary system with BTC you will always have the risk that is inherent to high volatility. So it is kind of an investment. All my money will be in BTC's, so if we go from 65k to 17k I lose far more than the inflation.
The whales are the crooks in BTC. Crooks are everywhere, and with the anonymity and the lack of control, criminality and corruption will even become bigger.

El Salvador has a higher inflation than Turkey. 1 yaer after they adopted BTC, they are almost bankrupt thanks to BTC. They cannot pay their international debts anymore, and there is even no money to run the country.

You continue to use your imagination. When you say:"And with the US needing to print 1 trillion every year, just to pay the bills, it won't take long to realize the printers need to be turned on big time." it is your imagination. There is no proof at all till now.

All these people "invested" in BTC. You should read "got paid to..."
https://usethebitcoin.com/12-celebrities-who-have-invested-in-bitcoin/

 

[NoahA]

Bitcoin is already over a decade "revolutionizing" the monetary system. After these 14 years in all the shops where I buy I cannot pay with bitcoin.

Patience grasshopper. On my Twitter feed, I'm constantly seeing how paying with bitcoin over lightning network is revolutionizing society, but of course in those areas that aren't as advanced as we are here in the west. Its actually interesting to think that mass adoption for this happens on the fringes and we will be the last to fully jump on board.

They cannot pay their international debts anymore, and there is even no money to run the country.

Would you like links to an article written by Alex Gladstone where he discusses how absolutely devastating IMF and World Bank loans are to poor countries? So I say fuck these international obligations that are only designed to enslave the citizens.

There is no proof at all till now.

Here is proof...

https://www.timesfreepress.com/news/2022/jul/23/good-news-bad-news/

So now explain to me where I'm wrong? Plus lets not forget that debt is much much bigger now, so you almost cannot compare to either when rates were high in 1980's or even if you see that deficits were also over 1 trillion in 2008. Total debt now matters.

 

[Pekelo]

All you deniers think its so easy to just fork the chain and create value out of nothing, but this just shows your ignorance.

In my sentence I was referring to 2 things, making a completely new coin (very easy)and forking (quite easy).

Anyhow let me tell you who my crypto hero is and why:

Charlie Lee. In just an hour work he created Litecoin, what was technologically superior to Bitcoin both in speed and tx numbers. So he proved in year 2, that there was nothing special or unique about bitcoin. But the real deal was what he did a few years ago; he realized Litecoin was WASTLY OVERVALUED and CASHED OUT! He actually did that pretty close to its ATH.

He was smart enough to realize that he just got lucky with his invention and took the opportunity and didn't hold too long. Cathie Wood should have asked him for advice last year...

How many Bitcoin (or whatever) whales are there who can't read a chart or the sign of the times (Super BOwl ads) and they let their holdings drop in value by 70%? Oh the Winklewii with their Harward education....

Anyhow, as a farewell to you, let's mention the rightfully hated Crag Wright, his BSV is also technically superior to BTC, so if you are into tech, you should switch to that. But as we noted before, nobody is in it for the tech.

In a few days I will post my crypto predictions, you may want to take notes. I have premonitions about crypto...

P.S.: I know I am not changing any cultist's mind, but I like to say, I told you so!

 

[schizo]

We don't have to imagine the sky high inflation in Turkey, its already happening. And with the US needing to print 1 trillion every year, just to pay the bills, it won't take long to realize the printers need to be turned on big time.

Government controlled systems are the crooks. I like the completely transparent and predictable issuance of bitcoin. Governments only help themselves, don't think for a second they have your back..

Bitcoin doesn't advertise. Yes, celebrities pumped lots of shit coins. You need your brain to separate bitcoin from everything else.

As I stated elsewhere, I don't think majority of the crypto holders give a crap about these issues. All they care about is making a quick buck. Seriously, do you think whales like Cuban or Saylor even considers "anonymity" or "transparency", or how BTC will revolutionize the world for the better, when they invest in BTC? I dunno about that.

 

[virtusa]

Patience grasshopper. On my Twitter feed, I'm constantly seeing how paying with bitcoin over lightning network is revolutionizing society, but of course in those areas that aren't as advanced as we are here in the west. Its actually interesting to think that mass adoption for this happens on the fringes and we will be the last to fully jump on board.


Would you like links to an article written by Alex Gladstone where he discusses how absolutely devastating IMF and World Bank loans are to poor countries? So I say fuck these international obligations that are only designed to enslave the citizens.



Here is proof...

https://www.timesfreepress.com/news/2022/jul/23/good-news-bad-news/

View attachment 303267

So now explain to me where I'm wrong? Plus lets not forget that debt is much much bigger now, so you almost cannot compare to either when rates were high in 1980's or even if you see that deficits were also over 1 trillion in 2008. Total debt now matters.

And where is his conclusion that BTC is better and that we should switch to BTC? Because that is what it is all about. Is BTC better than fiat currencies?

I also see that the projected deficit is massively lower after the 2 years with a spike.

Baron (-68%) lost more than Turkey with their hyperinflation (-40%) in 2022.

You should take the numbers of the 20 biggest economies in the world to see what will happen. Instead you try to find the worst economies in the world.

 

[Frederick Foresight]

We don't have to imagine the sky high inflation in Turkey, its already happening. And with the US needing to print 1 trillion every year, just to pay the bills, it won't take long to realize the printers need to be turned on big time.

Government controlled systems are the crooks. I like the completely transparent and predictable issuance of bitcoin. Governments only help themselves, don't think for a second they have your back..

Bitcoin doesn't advertise. Yes, celebrities pumped lots of shit coins. You need your brain to separate bitcoin from everything else.

You strike me as a financial prepper. "World as we know it is gonna end!" And when it doesn't:

Patience grasshopper.