Bitcoin Price Thread

stocks are booming, yet the Bitcoin ponzi technology seems to be struggling. What's up bitcoiners? Couldn't find more grannies to lure into your ponzi scheme?


Unfortunately though there is unlimited amount of fake Tether dollars that can be printed to prop up this fake ponzi fugazi market so we could find a bottom somewhere there (If it did go lower, maybe $63K-ish? don't think we'd go to $60k yet)
 
nitrene said:
It seems most people on this forum seem to believe the USD is collapsing yet it only goes higher against all the global currencies. I'll repeat it yet again, unless there is a currency that can soak up all of the USD liquidity & are willing to float it on the global markets with NO currency controls it won't happen anytime soon. Our supposed ally South Korea won't even give up its currency controls which is why IB won't even okay trading on their exchanges.
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It's more what we expect USD to do relative to hard assets, rather than other currencies.
 
orbit23 said:
stocks are booming, yet the Bitcoin ponzi technology seems to be struggling. What's up bitcoiners? Couldn't find more grannies to lure into your ponzi scheme?


Unfortunately though there is unlimited amount of fake Tether dollars that can be printed to prop up this fake ponzi fugazi market so we could find a bottom somewhere there (If it did go lower, maybe $63K-ish? don't think we'd go to $60k yet)
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Yawn.
 
nitrene said:
It seems most people on this forum seem to believe the USD is collapsing yet it only goes higher against all the global currencies. I'll repeat it yet again, unless there is a currency that can soak up all of the USD liquidity & are willing to float it on the global markets with NO currency controls it won't happen anytime soon. Our supposed ally South Korea won't even give up its currency controls which is why IB won't even okay trading on their exchanges.
More...

I prefer the term 'steady erosion',over 'collapse' but it is hard to see exactly how far along we already are.
 
Exactly, USD is "steadily eroding" and that is a feature, not a bug. It's a debt-based system and as currency depreciates it makes it easier and easier to pay off old debts.

Bitcoin on the other hand will have no steady erosion, but a fully-blown collapse.

Bitcoin is majority backed not by USD, but by Tethers that claim to be USD-backed. They use off-shore banks with little to no regulatory oversight and no real rules.

These banks give out loans to customers and customers "wire" the money to Tether. So Tether, on paper has the money, but if they try to cash out the money, the bank doesn't have the money.

They are doing what banks in US were doing prior to the housing collapse in 2007. They are marking worthless loans as par to dollar.


It's a catastrophe waiting for the collapse.
 
orbit23 said:
Exactly, USD is "steadily eroding" and that is a feature, not a bug. It's a debt-based system and as currency depreciates it makes it easier and easier to pay off old debts.

Bitcoin on the other hand will have no steady erosion, but a fully-blown collapse.

Bitcoin is majority backed not by USD, but by Tethers that claim to be USD-backed. They use off-shore banks with little to no regulatory oversight and no real rules.

These banks give out loans to customers and customers "wire" the money to Tether. So Tether, on paper has the money, but if they try to cash out the money, the bank doesn't have the money.

They are doing what banks in US were doing prior to the housing collapse in 2007. They are marking worthless loans as par to dollar.


It's a catastrophe waiting for the collapse.
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You havent answered any of my clarifying queries yet,but,where do you get the nerve spouting off about Bitcoin when you are on record as shorting at $7,254 in April 2020,3 months before it went to $61,000?

upload_2024-6-18_20-47-10.png


I'm sure you have been waiting for a return to $7000 ever since.

I get that you are bitter.Maybe penny stocks are more up your alley.

Also,I only just realised that you are a multi nick.Unsurprisingly,your alter ego is also a perma bear.hahahaha
 
orbit23 said:
Exactly, USD is "steadily eroding" ....
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(BLOOMBERG) ........ this morning

Dollar nears high
The dollar, meanwhile, is flirting with a new 2024 high as elevated US Treasury yields and investors seeking shelter from political uncertainty in Europe flock to the world’s reserve currency. The Bloomberg Dollar Spot Index is a whisker away from levels last seen in November, while the premium paid to hedge against the US currency gaining has risen to the highest level in over a year.
 
SunTrader said:
(BLOOMBERG) ........ this morning

Dollar nears high
The dollar, meanwhile, is flirting with a new 2024 high as elevated US Treasury yields and investors seeking shelter from political uncertainty in Europe flock to the world’s reserve currency. The Bloomberg Dollar Spot Index is a whisker away from levels last seen in November, while the premium paid to hedge against the US currency gaining has risen to the highest level in over a year.
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jbusse said:
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https://www.pragcap.com/has-the-dollar-lost-99-precent-of-purchasing-power/

...............


Households don’t leave their dollars under their mattresses. Households invest dollars in instruments that earn cash flows from the real investments that we make in the country. In fact, a household that held just T-Bills maintained their purchasing power through interest payments alone. A household that purchased the real output of US Stocks grew $100 to over $40,000 since 1928 (using first date of reliable historical data). In other words, if you held all of your money under the mattress you did quite poorly. If you diversified across even just T-Bills you maintained your purchasing power. If you invested in the real output of the US economy by owning real assets like stocks you did unbelievably well in real terms.
...............
 
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