Bitcoin Price Thread
- Thread starter Magna
- Start date
Sigh.. this is exactly what I wrote in my earlier post. If we just could deal with one piece of fake news at a time and show all the doubters where they are wrong, we could help save more people.
You're right about gold... but you're wrong about Bitcoin on both points. Satoshi put it all together, but he cites lots of previous work. You have to go back decades to find out about cryptography. People that are known and still active, such as Adam Back, are cited as having contributed to the technology. There are flowcharts going about the internet which cite at least 20 or 30 previous technologies that were necessary for Bitcoin to be what it is today.
Second point is that Satoshi didn't pre-mine. This is what separates Bitcoin from all other crypto currencies. He had to mine each block, just like today, until there were enough other people to carry on the torch. In fact, if you read about the analysis of the early blocks, you find out that he even throttled his own mining to give other people a chance. And then when the network was sufficiently decentralized at the time, he turned his mining rigs off. But he had no advantage. There are actually lots of people from the earlier years who were making 50 Bitcoin and didn't think much about it, and even today, you sometimes see a transaction spending those early bitcoins that have lay dormant all these years.
MSTR and COIN are outperforming the pack. I dumped COIN when CME announced that they plan to start offering spot BTC. Probably shouldn’t have done that but I put 75% of those funds in MSTR and 25% in CME (already had some) so I’m still happy.
Why sell the rallies?
The gubmint will be printing massively for the election and the stock markets will be green and bitcoin will be jumpy on upside
Re: Bitcoin
- Absolute digital scarcity, inelastic supply no matter the demand or how high the price goes
- Global monetary network that operates 24/7/365
- wrt to volatility vs risk, check Sharpe ratio
Interesting, all weekend I watched the bears telling people to sell at the lows (because it was going to zero). Now that they were proved what a disaster that advice was, they switched narrative to sell the rallies.
Michael Saylor Predicts Bitcoin Will Hit $13 Million
This is the kind of bullshit they shill you at the top of the cycle.
Have to be mindful there are infinite Tethers at the Tether reserve. They can easily pump it, who knows how high. Maybe even $65K, $70Ks.
But you can only blow into a balloon so much before it pops.
This is the kind of bullshit they shill you at the top of the cycle.
Have to be mindful there are infinite Tethers at the Tether reserve. They can easily pump it, who knows how high. Maybe even $65K, $70Ks.
But you can only blow into a balloon so much before it pops.