Bitcoin Price Thread
- Thread starter Magna
- Start date
When it comes to bitcoin, you keep looking at it all wrong. Its not supposed to produce anything. Money is just a ledger. I do some work, and I get paid. The money I'm paid is a ledger entry to prove to someone else that I did work. I can take this ledger entry and buy something for it because someone else realizes that I have something that everyone agreed has value. This "thing" can be whatever the population agrees on. It used to be rocks, it used to be shells, it used to be glass beads, it used to be gold, and now its unfortunately pieces of paper that the government can print at will. You see the problem about how the government can print it at will, right?
Now suppose that there is another way to prove that I have something of value. Something that can't be manipulated and surpasses all previous forms of ledgers in the past. You may think its shit, but if everyone around you finds value in using this as a store of value and method of exchange, your opinion will have just held you back.
Your hangup is that you expect bitcoin to do something that it isn't. But when everyone around you starts to understand that bitcoin is incredibly good at growing in value and that the network effect is only just getting started, you will kick yourself for not getting in sooner.
Ask yourself what you want your money to do. You want to be able to use it whenever you want, right? Well, do the banks facilitate this in 100% of the cases? I don't think so. You want your money to maintain its value? We know USD doesn't. Do you feel good about working hard for $100 but then seeing the government just freely printing this up in sheets by the truckload?
If you are really honest with yourself, I think you can come up with a few examples of why dollars aren't working well for you. Then think about what properties of money you would think would make money be even better than USD. Most people really think money needs to be printed by the government because this is how it was always done. But this thinking is actually based on a lie told over and over again in order to steal from you.
I didn't read any of that just responding to what somebody quoted...Bitcoin produces LAMBOS! lol
July 2019
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May22 2024
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100k by end of July? It looks like its ready to make the mountains to the left look like mole hills on the weekly.
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130 by year end is the number I'm looking for.
Big players invested and investing now so there will be some level of manipulation and price control but I'm betting on things moving north due to supply shock/competition coupled with the fact that BTC is simply a different animal.
I'm not convinced we are headed for a double correction yet or at all. I will be if this (4) leg retraces beyond .50 (currently at .382)
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Well it looks like that won't be at least for a couple weeks according to the chart. Why do you think bitcoin would tumble when gold typically goes up? Also, when did this belief that bitcoin is tethered to tether start?
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Great! Now we're back below 69K again. And since my bullish bet was contingent on BTC staying afloat ABOVE 69K, I don't think I can remain bullish anymore. I can only say, what a POS this thing is. She'll likely end up at 64.5 (dotted line) before turning around.
