so the recent bubble has already poped, lol
The price has crashed from $30 back to $12??
BWAHAHAHAHAHAHAAHHAHAHAHAHAHAHHAHAHAHAHAHAHAHAHAHAHAHAHAHAAH!!!!!!!!!!!!!!!!!!!
Bitcoin thread anyone?
- Thread starter COB
- Start date
BWAHAHAHAHAHAHAAHHAHAHAHAHAHAHHAHAHAHAHAHAHAHAHAHAHAHAHAHAAH!!!!!!!!!!!!!!!!!!!
Damn John, you need some chill. I'm here for you man, and I think 20K BTC will hold. I do not think it will reach a million, but it will not drop to zero. Calm down!
Because of coincidence in numbers $30 vs $20K, not sure if we're on the same page
Millionaire posted on another thread he was bashing Bitcoin when it was $40K
That post I replied to was to remind Millionaire that in 2011, he was "bashing" (he calls it making fun of) Bitcoin when it crashed from $30 to $12
There are no K or 000 after those numbers. The price of Bitcoin on 12/31/2011 was $4.25 per Bitcoin
I don't know what that was all about. All I see is BTC holding a floor of 20K per.
It tried to dip below 17K a month ago, and sproinged back to 20K. That is classic support action. If I saw that in an equity index I would be all over a long. Yummy yummy long. But Crypto action is a bit different from equity futures.
If I could judge it? You have a great floor at 20K
Achilles made a very good point. The US government will never allow such a system to get popular. As long as it is a novelty, they let it exist.
Another fun thing. Here is a pro-bitcoin site, trying to disprove myths about bitcoin. The funny part is that about half of the myths are actually true:
https://en.bitcoin.it/wiki/Myths
For example:
Myth: Bitcoins are worthless because they aren't backed by anything.
Response: Gold isn't backed by anything either.
Well, first, gold has an intrinsic value itself, being a valuable industrial metal for practical usage or as a jewelry item. Second, this is not a valid argument, just an invalid comparison.
Here is another one:
Myth: Anyone with enough computing power can take over the network.
Response: CONFIRMED,
Well, a confirmed myth is also known as FACT.
Here is one talking about what Achilles brought up:
Myth: Bitcoin violates governmental regulations.
Response:There is no known governamental regulation which disallows the use of Bitcoin.
This is simply not true, and the myth is again, true and a fact...
Myth:After 21 million coins are mined, no one will generate new blocks
Response: blah-blah-blah
The response doesn't deal with the question and the myth is again, factually correct.
Myth:Quantum computers would break Bitcoin's security
Response: Yes, but...
But, but, but if it is a yes, then it is not a myth.
August 5, 2022
Mr. Pekelo, how would you grade your list of points and prediction (re: Government actions towards Bitcoin)
after 10 years?
^Last 5 years performance not so good.
TSLA 800%
AMD 736%
GME 635%
BTC 450%
TSLA 800%
AMD 736%
GME 635%
BTC 450%
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lol, explains why his pfp is a degen chart.
Had a convo with someone at a coffeeshop who had $250k of BTC when it was at those prices. He admitted he panic sold and wanted to get back into it at some point. He was a outdoorsman living in the backcountry and hasn't paid attention to the news, basically unplugged from society for the last decade. It took a couple of repeats to convey it's recent highs and it's current price.
The gears turning in his head as he calculated what his paper profit would have been, the look on his eyes as they glazed over,... don't think he'll ever recover.
That's gotta hurt bad. Very sorry for him, but it would be impossible for him to buy back in now
A lot of Bitcoin haters on ET want to bring up price-anchoring using the top price of $69K, but it's actually fake bravado of sort
Secretly, most of them are price-anchoring btc when the price was much lower
They wish for btc to go back to $1000, $100, $10 or even less and every now and then one of them would slip and say they will buy a few when btc is at xxx
For a bunch of "Elite" traders, they don't seem to grasp the concept of higher lows
86% of the people in 2017 bull market held from $20,000 to $3000, even when it looked like it was never coming back
I very much doubt hodlers would capitulate during this crypto winter not after cashing out some profits in the past 2 years