Bitcoin is dead...

[Overnight]

...

Do you really think gold matters at that point? Food, water, clothing, shelter and guns will be more valuable in that scenario.

@HolyGrailSeeker and @Trader Curt I understand your arguments, I really do. I'm just having a bit o' fun here with the issue.

I am of a generation of thinking that is going away, and do not believe in the "new future" of cryptos being a true store of value, because so many things can (and have) gone wrong with it. I am sure cryptos will finally find their place in our monetary system. They will find their level as compared with all the other monetary systems of the world.

When the smoke clears from the next major world disaster (And it is coming...That is history repeating itself, which we as humans are so apt to catalyze and cannot help ourselves), there will be a new standard bearing tall. I do not see it being cryptos.

End of line.

 

[comagnum]

Bitcoin futures launches out of a textbook tight flag pattern & puts in a 9% move on the day - silly me did not take the setup due to the avg daily volume being so anemic @ about 1,200 contracts per day.

 

[schweiz]

You talking about the losses but what about the gains? From 15cent a coin in its early days to almost 4k as of writing.

Profits that 99% never realized, because they bought only in 2018, like the majority. You even confirmed you did miss that huge profit.You should have been the richest man on earth.
People who bought at $100 paid already 666 times more reducing there profits by 666 times, people who bought above $3,000 (the majority) paid already 20,000 times more reducing there profits by 20,000 times. And a lot of them are still at a loss if they are not wiped out. That's the reality.

Amazon has fallen 90+% in its early days before

Amazon never fell 90%.

 

[HolyGrailSeeker]

Profits that 99% never realized, because they bought only in 2018, like the majority. You even confirmed you did miss that huge profit.You should have been the richest man on earth.
People who bought at $100 paid already 666 times more reducing there profits by 666 times, people who bought above $3,000 (the majority) paid already 20,000 times more reducing there profits by 20,000 times. And a lot of them are still at a loss if they are not wiped out. That's the reality.


Amazon never fell 90%.

If dividends are not included, trading is largely a zero sum game. Someone else's profits is someone else losses. So saying that 99% profit isn't realized or majority loss money is just clueless because those must profits goes to someone else's pockets.

Also, AMZN did crash more than 90% during the dotcom bubble. Seriously, if you are twisting facts( Or are just plain oblivious) theres no point arguing with you anymore as you don't even know what you are babbling about.

 

[Trader Curt]

@HolyGrailSeeker and @Trader Curt I understand your arguments, I really do. I'm just having a bit o' fun here with the issue.

I am of a generation of thinking that is going away, and do not believe in the "new future" of cryptos being a true store of value, because so many things can (and have) gone wrong with it. I am sure cryptos will finally find their place in our monetary system. They will find their level as compared with all the other monetary systems of the world.

When the smoke clears from the next major world disaster (And it is coming...That is history repeating itself, which we as humans are so apt to catalyze and cannot help ourselves), there will be a new standard bearing tall. I do not see it being cryptos.

End of line.

One thing to think about before you go. When any kind of recession hits, that's when the value of things like gold goes up. You know anything not related to the U.S dollar goes up. Ever heard of the illuminati? We will have 1 global currency. I'm not saying the illuminati is true, but if we did have 1 global currency do you think it would be on paper? When your government turns against you and seizes everything you have including freezing the funds to your bank account, I am going to laugh when you turn to crypto, or if you try to buy gold. Either way I am going to laugh at you just as hard as I am now. And by the way, I hate to tell you the bad news. But the power is probably never going out bud...

 

[dozu888]

One thing to think about before you go. When any kind of recession hits, that's when the value of things like gold goes up. You know anything not related to the U.S dollar goes up.

really? what happened in 2008? did gold go up?

don't watch too many youtube videos then recycle other people's ideas on the internet. read the actual charts, and think for yourself.

 

[Trader Curt]

really? what happened in 2008? did gold go up?

don't watch too many youtube videos then recycle other people's ideas on the internet. read the actual charts, and think for yourself.

That's a good point thank you

 

[Sprout]

Not if you have gold. Get the point?

There's a reason gold has been a store of value for something like 2000 years. It doesn't "go away" on a fluke.

I can see where this convo is going. Someone will now retort about how you "can't take gold with you" or some shit.

Close-minded people who do not remember history cannot see the problems that can occur by putting all their eggs into a very frail basket that bases it's existence on something that exists through only man-made means, and can only be sustained through man-made means. Meanwhile, gold is still flailing it's arms going, "Oooh ohhh, ME! I'm still here!".

To answer your question..."How likely is all the world's power going out all at once?"

Not likely, sure. But it is a possibility. We're in the shadow (pun?) of a giant and violent fusion reactor that occasionally has a hissy fit and spews out X-class flares that messes up earth. It has caused major blackouts in the USA you know. So when the blackout happens, and your money is stored on something that requires electricity BUT YOU NEED THE MONEY RIGHT NOW, how can you access it when you have no power?

Trump was very unlikely to become president, but shit happens.

And before someone else pipes up about batteries, just shut the pie hole. Because the batteries have already been depleted charging your electric car, running your fridge, and keeping the PC, iPhone, router, air conditioner and all the other conveniences running so you can live your comfortable life. There's no more power left to power the servers with your money on them, in their "soft wallets".

Or, in the chaos, you forgot the password to your hard wallet.

Ooops! Gee, gold doesn't need a password. It still just sits there flailing around going, "Oohh ohhh! I'm still here! Lick me!"

You can't lick a bitcoin, man. If you try to, you'll short out your hard wallet, hehe.

A bit sobering account of when shtf...

What you is think is valuable isn’t necessarily so.

The things one takes for granted become increasingly precious.

https://4dtraveler.net/2012/01/09/surviving-the-bosnia-collapse-of-1992/

 

[schweiz]

If dividends are not included, trading is largely a zero sum game. Someone else's profits is someone else losses. So saying that 99% profit isn't realized or majority loss money is just clueless because those must profits goes to someone else's pockets.

This confirms that your statement is at least not correct. Somebody (the happy few) made profits, and a lot of people made losses to generate that profit for the happy few. So for those who tried to make money, others lost money.
Every investment is a good one, at least if you are the one who makes profits, while others take the losses. Makes me think about penny stocks, huge profits for the winners and huge losses for the losers.

Also, AMZN did crash more than 90% during the dotcom bubble. Seriously, if you are twisting facts( Or are just plain oblivious) theres no point arguing with you anymore as you don't even know what you are babbling about.

You are right, I did not go far enough back to see the drop.

 

[dozu888]

That's a good point thank you

no problem....

fundamentally, what is the true currency? the correct answer is - (drum roll) - guns!

this is why the US Dollar is the true gold, the measuring stick for everything else, the safe haven whenever there is a crisis.