Bitcoin failed to deliver.

[orbit23]

What did Bitcoin achieve, really?

Nobody is using it and it's technology is comically bad.

It's price DID go up, but that's my argument. Ponzi schemes are profitable as well and because they work until they collapse, does that mean they are legit?


Tether printed $60B of fake fugazy dollars to prop up the market is what happened and this took Bitcoin from $17K to $70K.

People only buy because price goes up and price to large extent goes up because of unbacked Tether printing.

Tether prints -> Price pumps -> People buy

Favorable environment and corrupt government has allowed this disguised ponzi scheme to operate. Once the conditions change, it will come crashing down hard.

 

[semperfrosty]

What did Bitcoin achieve, really?

Nobody is using it and it's technology is comically bad.

It's price DID go up, but that's my argument. Ponzi schemes are profitable as well and because they work until they collapse, does that mean they are legit?


Tether printed $60B of fake fugazy dollars to prop up the market is what happened and this took Bitcoin from $17K to $70K.

People only buy because price goes up and price to large extent goes up because of unbacked Tether printing.

Tether prints -> Price pumps -> People buy

Favorable environment and corrupt government has allowed this disguised ponzi scheme to operate. Once the conditions change, it will come crashing down hard.

When you stop talking about it,then I'll get nervous.

Have you convinced anyone else to sell all their Bitcoin and go into Doge with you?

 

[charlotte_daily]

Why?

The rise of BTC, since this thread was made has been incredible.

 

[hilmy83]

You're a dumb and rude fuck who lucked out. That's all.

If you were interested in an actual discussion like civil adults, I'd consider responding to your other comments.

Now, fuck off.

THis is what I see..

I say @johnarb is a legend for calling that.

 

[Laissez Faire]

THis is what I see..

In that case - you may be dumb, too.

I literally wrote in the opening post that BTC may very well be a good buy at those levels.

The point of the thread was merely that Bitcoin had not served as a hedge against anything, nor could it be seen as a store of value, considering that it sold off in tandem with equities and a rise in inflation.

I never put forth any comments about BTC going to zero or anything to that effect.

 

[hilmy83]

In that case - you may be dumb, too.

I literally wrote in the opening post that BTC may very well be a good buy at those levels.

The point of the thread was merely that Bitcoin had not served as a hedge against anything, nor could it be seen as a store of value, considering that it sold off in tandem with equities and a rise in inflation.

I never put forth any comments about BTC going to zero or anything to that effect.

You sound bitter sweetheart. You called him a "rude fuck and lucked out", so I presented evidence to the contrary. He called the price, to almost the exact date. It wasn't luck that got him where he is.

Why don't you just stick to your ES charts dude. Leave bitcoin to people who can analyze this better.

 

[Laissez Faire]

You sound bitter sweetheart. You called him a "rude fuck and lucked out", so I presented evidence to the contrary. He called the price, to almost the exact date. It wasn't luck that got him where he is.

Why don't you just stick to your ES charts dude. Leave bitcoin to people who can analyze this better.

Yeah. You're dumb. And you keep missing the point.

Did you read his reply? He was a rude fuck in his reply. I'm as polite as anyone here, but if people start cursing at me, I have no problem responding in the same manner.

I'm allowed to discuss this as much as I want. LOL. Besides, I was quoted into this thread and merely responded. Had even forgotten I started it.

 

[Laissez Faire]

Here's an overlay of BTC / NDX on the weekly timeframe since 2017.

I'll leave it to the experts in this thread to decide which is which.

I think it proves my point very well.

 

[NoahA]

Here's an overlay of BTC / NDX on the weekly timeframe since 2017.

I don't think this chart has the same scale. We need a chart in percentage terms. Here is what I came up with. (the volume on the bottom kind of hides the QQQ... LOL)

 

[NoahA]

Also, if we make it more fair and just look since the Covid lows, we get this.