Baron
ET Founder
I've overlooked everyone else's as well until this point. Again, there's been no favoritism of any kind.
Bitcoin Price Thread
- Thread starter Magna
- Start date
You mean that going forward there will be no more name calling?
Would you reconsider if I told you I would say my farewell to ET when bitcoin hits $100k or before 11:59PM EST 12/31/2024, whichever comes first?
I never imagined I would still be arguing against uneducated, ill-informed critics of bitcoin when the price of bitcoin has hit $50k
and yet I stayed... I overstayed...
But after bitcoin spot etf's from the likes of Blackrock, Fidelity, Bitwise, Vaneck, I really question what value I can offer on ET wrt Bitcoin,
These guys are the very best at explaining every angle of Bitcoin as an investment asset, the risks, the value proposition, the performance metrics, the works,
I posted the Blackrock pitchdeck for Bitcoin as an investment, and it was a work of art, succinct, direct to the point
and yet here I am still posting on ET...
I want to be here for when bitcoin hits $100k to celebrate with my crypto friends...
I want to have one more post on the MSTR thread (defined risk, asymmetric risk-reward) I started recently
I hope it happens before 1/1/2025...
Bye bye
Wow... quite the exciting last few pages.
To all the Bitcoin haters, tell me how the government continues to function with $2T deficits? I don't have the post handy, but I saw that 90% of all revenue was eaten up by interest expense, defence, Medicare, etc, so essentially, the fixed costs. There is no money to fund everything else like all the 3 letter agencies or roads or other infrastructure.
The only solution sure is to drop rates, and turn on the money printer. This will of course accelerate inflation, so that fiat really is trash.
Its true that a bond is secure, you will get the dollars back, but if you bought $100 worth of a 10 year bond in 2014, are you really happy with how much money you got back now if you held? What will that $120 or so buy today vs. what it could have bought in 2014?
And now the question is, would you buy another 10 year bond today considering how much the government is spending? If you say you can always sell it, well, tell that to the banks holding the severely devalued bond. And if you say you will hold to maturity, you have lost a shit ton in purchasing power. The debt doom loop is upon us.
I would honestly say to everyone who thinks bitcoin is going to zero, there is just as much chance that government bonds, after 10 years, will be worth practically zero. Wake up people. Look at the acceleration of debts and deficits. As has been pointed out, bonds are going to be sold at a time when the US needs to issue even more bonds.
If you hate bitcoin, fine, but at least tell me how the US fixes this shit show? If the only thing that the US can do to keep functioning is to sell bonds that now nobody else wants to buy, what is the strategy going forward? Central banks buying all the bonds is suicide.
So tell me @Frederick Foresight or @deaddog, what is the strategy going forward?
To all the Bitcoin haters, tell me how the government continues to function with $2T deficits? I don't have the post handy, but I saw that 90% of all revenue was eaten up by interest expense, defence, Medicare, etc, so essentially, the fixed costs. There is no money to fund everything else like all the 3 letter agencies or roads or other infrastructure.
The only solution sure is to drop rates, and turn on the money printer. This will of course accelerate inflation, so that fiat really is trash.
Its true that a bond is secure, you will get the dollars back, but if you bought $100 worth of a 10 year bond in 2014, are you really happy with how much money you got back now if you held? What will that $120 or so buy today vs. what it could have bought in 2014?
And now the question is, would you buy another 10 year bond today considering how much the government is spending? If you say you can always sell it, well, tell that to the banks holding the severely devalued bond. And if you say you will hold to maturity, you have lost a shit ton in purchasing power. The debt doom loop is upon us.
I would honestly say to everyone who thinks bitcoin is going to zero, there is just as much chance that government bonds, after 10 years, will be worth practically zero. Wake up people. Look at the acceleration of debts and deficits. As has been pointed out, bonds are going to be sold at a time when the US needs to issue even more bonds.
If you hate bitcoin, fine, but at least tell me how the US fixes this shit show? If the only thing that the US can do to keep functioning is to sell bonds that now nobody else wants to buy, what is the strategy going forward? Central banks buying all the bonds is suicide.
So tell me @Frederick Foresight or @deaddog, what is the strategy going forward?
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How much would $100k invested in BTC on March of 2024, just 4 months ago, be worth today?
said bondholder would shit his pants.Baby steps DD.
Lets learn to live without 'pig shit retard' first and then go from there.
Gotta play the long game. Its been a 350% rise from the lows at 16k. And I really do think that now, there is lots of trickery going on by the traditional financial market. This consolidation for months has been rough, but Bitcoin isn't about making money or getting a good return, its about a fundamental change every aspect of life to be honest.How much would $100k invested in BTC on March of 2024, just 4 months ago, be worth today?
The past few decades have been all about splurging. This cannot go on forever, and it dies this decade. Never mind that the entire financial system is gonna change, but even how people behave will change.
Think of it like this. When you're 20 and have your whole life ahead of you, you're chasing your hopes and dreams and think you're invisible. Then as you age, you naturally start to look at things differently. You can't be as idealistic, but have to be more realistic. You get a better sense of what you want and also what is possible. By the time you're 60, you're likely just trying to stay alive!
The fiat world is coming to an end, just like the teenager has to eventually face the responsibilities of an adult. There is no choice, it just happens. You get older and people expect more from you.
So now that endless money printing and debasement is on the way out, people will have to learn to live in a world with hard money. Everything about life will change and if people aren't ready for it, or accept it, the transition will be that much more difficult.