The fish for dinner , cause Bitcoin Trillion is a reality....
BTC - who still laughs about it?!
- Thread starter Fx-Game
- Start date
For me the magic number is $1mln. That's when 1 satoshi = 1c.
ahh thanks, 1 million it is then . Well guys, let me change my previous sentence.
Do not sell until it reaches 1million USD. Hodl!
Do you really believe that Bitcoin will grow to the level where it's market cap will be larger than the economy of Japan?
At $300k, BTC market cap will be around $6T. I can hardly see this happening unless there is a big devaluation in the USD.
$6T is slightly more than 15% of the total US Equity market capitalization (which is about $39.4T). For Bitcoin to reach 15% of US equity market cap, that's way too much, at least for the next 1-2 years.
I am not against Bitcoin or cryptocurrencies. Actually before 2018 I was very much against them, but then I changed my stand after reading & researching the underlying technology and invested heavily in 2019/2020. I still see several coins/tokens that are nothing but a pyramid scheme, which will eventually fall apart & collapse, but I do believe that the underlying blockchain technology has the potential to massively change a lot of things and affect as many people and this is where the real opportunities are.
But putting things in perspective, a small thing can grow massively & quickly, then it hits a critical mass where it can't simply grow any further or in other words, the rate of growth slows down and reverts back to it's long term mean, nothing grows forever, even if you have limited supply.
Your sarcasm detector is broken
LOL, ok, will try to fix it next time then.
Blockchain technology started in 1982, so long time before the crypto's were "invented".
Crypto's only use blockchain technology, just like the technology is used in smart contracts, financial services, video games, energy trading, supply chain (food supply, shipping, mining, software development), health care, domain names...
The way crypto's are organized is facilitating manipulation (anonymous and transactions are almost for free helping to buy and sell to yourself and pumping up the price).
https://www.cnbc.com/2019/11/04/stu...rket-manipulator-pushed-bitcoin-to-20000.html
A couple of articles to check:
https://www.cnbc.com/2020/09/29/jp-...-lawsuit-alleging-fraud-in-metals-trades.html
https://www.cnbc.com/2015/07/24/lawsuit-accuses-22-banks-of-manipulating-us-treasury-auctions.html
https://www.bbc.com/news/business-30016007
https://www.bloomberg.com/opinion/a...ated-foreign-exchange-in-ways-you-can-t-teach
There are scandals in any financial system:
https://thedailychain.com/the-us-to-confiscate-btc-eth-accounts-linked-to-north-korean-hackers/
https://coinfomania.com/us-doj-confiscates-2m-crypto-accounts-terrorists/
https://www.bbc.com/news/technology-54833130
https://theforexreview.com/2020/08/...n-on-280-crypto-accounts-tied-to-north-korea/
https://cryptopotato.com/us-doj-sei...unts-allegedly-operated-by-al-qaeda-and-isis/
The way crypto's are organized is the best financial system for criminals.
If my money is stolen from my bank account, the bank pays me back.
If your bitcoins are stolen, nobody will pay you back.
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IMO the problem with Tether is much like the problem with Bernie Madoff. I would suspect most investors thought Madoff's equity curve was because he was using his position with Nasdaq to front run. Obviously, it was crooked but no one really cares much when they think they are benefiting from someone else crookedness.
I think if you look at the market cap, something is wrong with Tether that the market cap has no choice but to hugely expand.
They don't even claim Tether is backed by USD anymore but it is backed by USD and loans to affiliate companies. No one cares lol. No one cares they changed this a year ago. Backed by USD reserves and loans to ourselves. I mean of course that is what is going to happen.
You put even the most pious monk in history in charge of a 20 billion dollar account just sitting there and eventually they are going to make a loan to themselves and mess it up.
What we do not and can not know is the leverage effect that tether has on the whole space. There is no point in trying to do some kind of data forensics either. With how things are setup it doesn't take a genius to paint the tape to blur any kind of data causality.
What disappointments me about crypto is how little of anything interesting is being done with it. We have built this amazing decentralized smart contract network and a decentralized payment system and nothing is really being done besides hording resources as if it is a new type of pyramid scheme.
I think if you look at the market cap, something is wrong with Tether that the market cap has no choice but to hugely expand.
They don't even claim Tether is backed by USD anymore but it is backed by USD and loans to affiliate companies. No one cares lol. No one cares they changed this a year ago. Backed by USD reserves and loans to ourselves. I mean of course that is what is going to happen.
You put even the most pious monk in history in charge of a 20 billion dollar account just sitting there and eventually they are going to make a loan to themselves and mess it up.
What we do not and can not know is the leverage effect that tether has on the whole space. There is no point in trying to do some kind of data forensics either. With how things are setup it doesn't take a genius to paint the tape to blur any kind of data causality.
What disappointments me about crypto is how little of anything interesting is being done with it. We have built this amazing decentralized smart contract network and a decentralized payment system and nothing is really being done besides hording resources as if it is a new type of pyramid scheme.