Bitcoin Price Thread

[SunTrader]

Was the nat debt going away at $1.5T, $11.5T or $21.5T?

What's so special about $31.5T?

 

[Frederick Foresight]

I'll be fine if my small allocation doesn't pan out. Caution is a good thing when it comes to uncertainty.

But the emperor truly has no clothes. I'm much more optimistic about bitcoin now at $28K than when it was at its all time highs because of what's gone on with inflation and the inability of the federal government to control spending. The powers that be inspire zero confidence, and the U.S. economy no longer generates the tax revenue needed to fund incompetence at the top. That $31.5T national debt is not going away.

So what you're saying is, anything is better than being in the frying pan. How carefully did you look before leaping?

 

[jbusse]

Was the nat debt going away at $1.5T, $11.5T or $21.5T?

What's so special about $31.5T?

The steep trajectory is worrisome when combined with the higher interest rates needed to fund it. It takes $315 billion extra government spending to service interest expense on the debt for each 1% increase in treasury rates. That's 5% of the entire federal budget for each 1% increase. The issue is what if interest rates don't come back down and the government doesn't get spending under control?

 

[Frederick Foresight]

The steep trajectory is worrisome when combined with the higher interest rates needed to fund it. It takes $315 billion extra government spending to service interest expense on the debt for each 1% increase in treasury rates. That's 5% of the entire federal budget for each 1% increase. The issue is what if interest rates don't come back down and the government doesn't get spending under control?

I'll be fine if my small allocation doesn't pan out. Caution is a good thing when it comes to uncertainty.

And so your small allocation will save you from all that perceived future pain?

 

[virtusa]

How many years decades did it it take for Gold @ $2000 to become a reality?

Meanwhile Bitcoin did hit 50k and was over 2/3rds of the way to 100k in a little over a decade of existence.

Even if it is all based on hype Bitcoin plainly has more of it than the shiny stuff, therefore more likely to attain such "crazy" targets sooner - as its short history shows.

Theranos raised more than US$700 million from venture capitalists and private investors, resulting in a $10 billion valuation at its peak in 2013 and 2014.
Today they are at zero. Because it was a scam.

Gold has economical value as it is used as metal. Bitcoin is pure air. But air has no value as we have plenty of it for free.

https://www.businessinsider.com/tec...own-went-bankrupt-in-last-decade-2019-11?op=1
The 13 biggest tech company failures in the last 10 years

https://www.businessinsider.com/13-...t-disappeared-in-the-past-decade-2019-12?op=1
13 once-beloved companies that disappeared in the past decade

 

[SunTrader]

...

Gold has economical value as it is used as metal...

Wow, really?

 

[jbusse]

And so your small allocation will save you from all that perceived future pain?

I understand risk and uncertainty, not putting all your eggs in one basket. I've been wrong many times before. That lots of smart people see things differently regarding Bitcoin is not lost on me.

 

[Good1]

Reminds me of the definition of a calculator: an instrument where you input two or more seat-of-the-pants estimates, multiply or divide them or whatever, and get accuracy to the 6th decimal place.

Well past performance is not...etc, etc. But it IS based on past performance over 14 years. I've estimated 70% down from the next ATH, a year+ after the next ATH 3 years from now. That approximates 14 years, past performance extrapolated forward at a time when the government is printing money and in every other way (warmongering) destroying the world's prime currency. Banks about to fail again like 2008, and bailed out likewise, again, as politicians choose winners and losers. Not exactly seat of the pants. Don't have to be a prophet.

Fortunately I no longer depend on forecasts like this and will do ok, if not better, no matter what it does, or no matter what Senator Warren does.

 

[Good1]

Theranos raised more than US$700 million from venture capitalists and private investors, resulting in a $10 billion valuation at its peak in 2013 and 2014.
Today they are at zero. Because it was a scam.

Gold has economical value as it is used as metal. Bitcoin is pure air. But air has no value as we have plenty of it for free.

https://www.businessinsider.com/tec...own-went-bankrupt-in-last-decade-2019-11?op=1
The 13 biggest tech company failures in the last 10 years

https://www.businessinsider.com/13-...t-disappeared-in-the-past-decade-2019-12?op=1
13 once-beloved companies that disappeared in the past decade

You can't store savings in the air. But you can on a secure cryptographic ledger network with the expectation that larger pools of capital will discover the usefulness of it's strong points.

 

[deaddog]

with the expectation that larger pools of capital will discover the usefulness of it's strong points.

Does that mean waiting for a greater fool?