Bloomberg Foresees Bitcoin Rallying to $400K This Year

[tsznecki]

You can select whatever part of my post you want to...

Bottomline, any intelligent person that does not see something fishy about an asset with no intrinsic value, and whose 'cost of production' and quantity is determined by the producers/owners, and has been set to increase by more than +100% per year since inception, and thrives on people needing to buy that asset at more than the cost... well I don't know what to say. Keep partying... maybe you get to 2140 when the last coin is mined..

I'm not selecting any part of your post. I put a link to your whole post in its entirety.

So what's the intrinsic value of gold?

 

[tsznecki]

You can read, correct? @johnarb literally went after neke's post because he apparently hasn't posted here in a while and so what, who cares? Post frequency means nothing. So ad hominem begets ad hominem.

I can read, although I'm not so sure about you. Your parents related? Maybe at least one answers to "Good doggie!"?

Because I asked you for legitimate theses and facts against BTC/crypto and you instead give me a reason that ad hominem begets ad hominem, trying to justify your position while devolving this conversation to nothing more than personal insults.

If you are melting down, I suggest not being a snowflake.

 

[newwurldmn]

Think in detail about what happens and about both sides of the transaction. Someone mines BTC at $0 and sells it later at $50K. The buyer had to fork over $50K and gets a worthless digital token of no intrinsic value, i.e. nothing. Unless that buyer now manages to unload to someone else, he is the one who lost the $50K (that the seller has made before transaction costs).

cant the same argument be made for stocks like Amazon (which for decades showed no profit) and for now show no signs of paying a dividend.

 

[longshort]

cant the same argument be made for stocks like Amazon (which for decades showed no profit) and for now show no signs of paying a dividend.

Even without dividends, shareholders own the company and its assets, including the inventory, real estate, etc. If the company were to be sold or taken private for example, shareholders are to be paid out. Actual value exists in the real world and that value has increased tremendously in Amazon's case.

 

[wiesman02]

I've been holding some bitcoin for quite a while. I dont believe in bitcoin, nor do I think it'll really amount to anything. I'm really just riding the wind right now. I remember when it hit 40k and dropped hard to 30k after coinbase manipulated it. Then elon manipulated it up from 35-45k after saying he was buying 3 bill worth.

Its just a wild ride. Those news outlets predicting 400k are just looking for sensationalist news coverage or they have skin in the game and know they can manipulate it without sec consequence. Sure it could get to 400k. And something could happen to make it go down 50% tomorrow. If you have all almost all your net worth in bitcoin you truly are holding onto too many chromosomes.

 

[johnarb]

I've been holding some bitcoin for quite a while. I dont believe in bitcoin, nor do I think it'll really amount to anything. I'm really just riding the wind right now. I remember when it hit 40k and dropped hard to 30k after coinbase manipulated it. Then elon manipulated it up from 35-45k after saying he was buying 3 bill worth.

Its just a wild ride. Those news outlets predicting 400k are just looking for sensationalist news coverage or they have skin in the game and know they can manipulate it without sec consequence. Sure it could get to 400k. And something could happen to make it go down 50% tomorrow. If you have all almost all your net worth in bitcoin you truly are holding onto too many chromosomes.

Easy there, buddy, just because we're on the same long side of the trade doesn't give you the right to insult others willing to put the risk

You don't have to go all in, if your level of risk comfort is smaller, go smaller, or you can't take the heat, trade out

You do realize bitcoin trades 24/7/365 and liquidity is enormous, so I can get out of my positions in an hour any given Sunday, be it 3AM or 3PM est

 

[wiesman02]

Easy there, buddy, just because we're on the same long side of the trade doesn't give you the right to insult others willing to put the risk

You don't have to go all in, if your level of risk comfort is smaller, go smaller, or you can't take the heat, trade out

You do realize bitcoin trades 24/7/365 and liquidity is enormous, so I can get out of my positions in an hour any given Sunday, be it 3AM or 3PM est

you admitted that you don't know how to read charts and aren't a trader and you're on a trading forum so how does a 24/7/365 help you? All you do is pump bitcoin here. And you hold through 70-90% drawdowns. You wouldn't sell your bitcoin even if it fell 90% again. For someone thats claimed to be up over a million, thats pretty ridiculuos

 

[johnarb]

you admitted that you don't know how to read charts and aren't a trader and you're on a trading forum so how does a 24/7/365 help you? All you do is pump bitcoin on this forum. And you hold through 70-90% drawdowns. You wouldn't sell your bitcoin even if it fell 90% again. For someone thats claimed to be up over a million, thats pretty ridiculuos

Check your pants, you got no balls, that's called a vagina

Mind your own business, I've managed to grow the value of the portfolio for many years without your wisdom. You said you're a piker? got that right

#HaveFunStayingPoor

 

[johnarb]

You're someone who's clueless and sold the bottom of last year, damn, don't give any advice

Bitcoin is slowly dying. How many times have I heard people say "bitcoin has crossed a very important level".

Important for who ? No institutions, hedge funds, or gov'ts are buying this trash. The time to sell was in January of 2018.

 

[johnarb]

@johnarb, I really admire your willingness to take on the jealous deniers in thread after thread. I gave up long ago trying to reason with the unreasonable. The greatest investment opportunity of probably anyone's lifetime and those who still ridicule do not even know how they embarrass themselves. The thing that still amazes me is that even now as it has grown beyond the mavericks and geeks like us they still deny. The big boys are starting to recognize it as a necessary financial hedge and it is still not too late. In fact if there is a financial meltdown BTC, ETH, and maybe a couple of others will be the only safe havens and the price may go to unimaginable levels.

In response to Daal above, yes going all in at 60K is not prudent. But everyone should put 5% to 10% of the net worth in Crypto even at these levels if they have no exposure.

@Illini Trader I hope you're doing well, my friend. Yea, can't believe we're still having to defend being bitcoin hodlers and believers when bitcoin is priced at ~$60K!!!

These haters have no shame and won't admit they are wrong

I'm considering quitting ET when bitcoin hits $100K, until then, everyone has a chance to tell me I told you so if btc crashes before then