Bitcoin Price Thread
- Thread starter Magna
- Start date
Honestly, I was more interested in the idea behind being able to see "who" is actually buying. When it comes to stocks or futures, the exchange will of course never tell you, but knowing would be, I imagine, super beneficial. With Bitcoin, if you can trace the buying back to addresses that own vast amounts, then I think this would be huge. Just like if when its dropping you see the big holders selling vs. the tiny accounts.Oh boy, oh boy, your question is very exciting!!! I don't even know where to start, lol. There are 18.6M bitcoins, currently, and there will only be 21M bitcoins, a hundred years from now. It is estimated ~4M bitcoins (private keys) are lost forever
There's not enough for every millionaire in the world to own 1 single bitcoin. Adult population in the world? How about the whole world, what allocation for each country can have their own fair share of bitcoins. Microstrategy really screwed every US corporation out there by owning as many bitcoins as they can.
When you say all the Institutional Investors have owned as much as they want, what price of bitcoin would we be looking at? Woohooooo! Now you understand why there is so much fomo among this investor class right now! They are panicking as they don't want to be left behind. A lot of really big investor funds have to wait for bitcoin to hit $50K price as the marketcap is too low for them to invest in, basically when bitcoin hits $1T market cap. You can front run those investors now.
Retail is PayPal, Square, Coinbase, Gemini, Robin Hood, and lately, you can get your salary paid to you in bitcoin like NFL star Russel Okung through Zap Strike, or you can use Bitwage
I just cannot fathom what price of bitcoin would be if as you say, all the big investors have bought all they need? Hint: there's not enough bitcoins for that to happen
But I don't believe in the need for everyone to have to hold Bitcoin. Listen, don't you think that the US will intervene if the dollar is actually losing too much value or at risk of serious competition? The FOMO is only from a guy wanting to make a quick buck. These institutions might put 1 or 2% of their assets into Bitcoin, and it won't make much of a difference. Sure, regular folk can all do the same. But if you're trying to convince me that we will need Bitcoin in the future because the monetary system is falling apart, that I would bet strongly against.
Bitcoin, being the first token, its highly inefficient. Who drives a Model T these days? Who uses an iPhone 1? Who watches movies via VHS tape? etc.... If the monetary system really needs a digital currency with blockchain technology, another one will come along that will be better in many ways.
So IMO, Bitcoin is an amazing gamble, and I'm jealous that you have 13 of them because its a nice value at the current prices. And I think it can still go higher. But I will never be convinced that it is going to be the necessary token of the future. The only FOMO is not making money on the ride up, but its not like my life is going to suffer because I'm missing some vital asset.
And you know this how?
and enjoy the breeze emanating from your flapping gums?
Just thought you should know (if you don't) Bitcoin, even with yuuge drop is still up on the year - while Gold ...... isn't.
I've been in the habit for years now of saying - might, probably or possibly. Less crow to eat.
Bitcoin will hit a million in 2023 then in a few weeks will be zero.
I would say sub 10k is very real as well.
Why will be zero in a few weeks when it will hit a million in 2023? What can be the reasons or only it is just a rumor?