This is the basic difference between the BTC buyers and the guys putting full faith and trust in aircraft carriers. It is a simple matter of hedging our asset base against the world debt bubble that increases by the day and can not ever be paid back and supported by an interest rate reverse bubble of near zero. BTC is already established worldwide and it has no upward limit (no sales projections, PE ratios, etc.) It is simply supply and demand and the supply is known. The possibility of a world economic meltdown is real and that is why BTC has risen from a few cents to 7K already and it has just scratched the surface of world penetration.
Bitcoin Price Thread
- Thread starter Magna
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This is the basic difference between the BTC buyers and the guys putting full faith and trust in aircraft carriers. It is a simple matter of hedging our asset base against the world debt bubble that increases by the day and can not ever be paid back and supported by an interest rate reverse bubble of near zero. BTC is already established worldwide and it has no upward limit (no sales projections, PE ratios, etc.) It is simply supply and demand and the supply is known. The possibility of a world economic meltdown is real and that is why BTC has risen from a few cents to 7K already and it has just scratched the surface of world penetration.
Well, I guess I'll have to live with my trades, then. I trade cryptos between cryptos, and staying long cryptos for a while, so if bitcoin goes to zero, I'll be right there with it.
Don't worry about me or my trades and I don't worry about yours. You don't see me posting in other threads that you're in and criticizing your stuff, do I?
You claim that the "house" is extremely short bitcoin (via futures), but then you also claim the "whales" have the ability to pump bitcoin up (to bring in more suckers). You would be saying that the "house" which implicitly can't lose are at the mercy of the bitcoin whales.
You can't be on the fence.
You sound like these people who predicted already the end of the world several times.
Here is the complete list; you can add yourself now. LOL.
https://en.wikipedia.org/wiki/List_of_dates_predicted_for_apocalyptic_events
And bitcoins are going to save us? ROFLMAO.
We have already several religions (Christians, Jews, Muslims, Jehovah Scientology...), we can now add the bitcoin religion too.
the house and the whales have to be joined at the hips, if not one and the same..
this is a coordinated scam... from the ponzi-like design of the PoW scheme, the smooth talking antonopolous, the media push, the futures launch..... if you put the pieces together, they all make sense now.
the problem is, gold, the closest parallel to btc, has had a terrible track record in past crisis.... and now the crowd are buying into something much worse.
the crowd is so blind... they can't see that whenever there is a flight to safety, the destination is the USD, the true gold.
If something really bad would happen, all countries will try to fix the problem together. They will NEVER give up their currencies in favor of crypto's that they cannot control. Because that would mean that at that moment the whales would control the financial system. That will never happen. It would also be worse then what we have now as everyhting would be in the hands of a few whales.
In past crisises gold was used as protection, but the main currencies were never abandoned.
I respect your own investment decisions.
However - these talking points sound too much like talking points.. and each of them needs to be looked at deeply.
- debt bubble - the monetary system just works this way.. dollars are created from the Fed issuing them against the treasuries... so it is designed not to be fully paid back.
- BTC is established worldwide - what is the adoption rate? when was the last time you bot a loaf of bread with it?
- upward limit - true, no limit, as long as there is a bigger fool (no offense);
- supply is limited - this one sounds too much like "hurry, get them before they are all gone"
- world economic melt down - not a possibility.. this was a reality in 2008.. and I point out before, gold went DOWN... the system already demonstrated that it's robust enough to self heal.... yes, it was ugly, but it did self heal.
- a few cents to $7k - that is not proof of anything, that is the very definition of a bubble.
the naivety behind the thinking that some grass root protocol can just replace the banks who have all the guns in the world.
people.