Down to about $90k, where would you park it if your trading skills were trash?

[NoahA]

What does that even mean?

This means that when everything is going to shit, people at least will be able to buy bitcoin. It will soak up all the liquidity.

Is that a technical term?

You can already see all the crazy shit happening.. like in the UK with their drastic attacks on freedom. The elite are fighting hard, and the rest of society needs to fight back.

 

[Frederick Foresight]

It will soak up all the liquidity.

What it will soak up is the gullible.

 

[NoahA]

none of that ensures bitcoin goes to 500k as crypto bros keep claiming will happen like it’s a fact.

What else will you trust? Remember how the London Metals Exchange busted trades because it didn't go the way for the big holders? Everyone is tired of manipulation. Bitcoin is the only sure thing out there, and more and more people discover this every day.

You have Russia that learned what the US can do with reserves that you thought you had, and the BRICS are trying hard to work on a system outside of USD. The solution is already available. No country has to trust another country's currency.

Russia and Brasil and everyone else who wants to join are of course reluctant because up till now, we have been hostage to the power dynamic. One country has the power, and everyone else has to suck up to them. So changing this seems scary, even for the countries that aren't at the top, but it will happen.

Like I said before... if you used to be the leader, and you know you're losing, the next best thing is to make sure nobody will take your place and that you will end up being "their" bitch. So as you're going down, you all of a sudden fight for a fair system that nobody can control.

 

[Covertibility]

Bet the under (6.5 wins) on the Vikings; they ain't winning 7 games with that schedule.

The NFL rigged the schedule against the Steelers. Roger Goodell hates black coaches (imo).

 

[newwurldmn]

What else will you trust? Remember how the London Metals Exchange busted trades because it didn't go the way for the big holders? Everyone is tired of manipulation. Bitcoin is the only sure thing out there, and more and more people discover this every day.

You have Russia that learned what the US can do with reserves that you thought you had, and the BRICS are trying hard to work on a system outside of USD. The solution is already available. No country has to trust another country's currency.

Russia and Brasil and everyone else who wants to join are of course reluctant because up till now, we have been hostage to the power dynamic. One country has the power, and everyone else has to suck up to them. So changing this seems scary, even for the countries that aren't at the top, but it will happen.

Like I said before... if you used to be the leader, and you know you're losing, the next best thing is to make sure nobody will take your place and that you will end up being "their" bitch. So as you're going down, you all of a sudden fight for a fair system that nobody can control.

it doesn’t answer the question why do crypto boys keep saying bitcoin will be 500k like its a fact. Did someone go forward in time?

Everything you have said is speculation so far.

 

[NoahA]

it doesn’t answer the question why do crypto boys keep saying bitcoin will be 500k like its a fact. Did someone go forward in time?

Everything you have said is speculation so far.

Sure, all speculation, and no guarantee, but you buy insurance when PUTs are cheap... right?

The reason why people are sure is partly because of the price history of bitcoin. We see the cycles of adoption, and there is no reason to assume it wouldn't continue. Bitcoin is looked at like a network, so it benefits from network effects, just like the internet. The more people who use it, the more use it has, and exponentially so.

Bitcoin has many properties that people like, be it a store of value, or method of exchange, and simply your only way to save if you're not in the lucky 1B of people who have access to banking.

When you also look at the history of world reserve currencies, you see that USD is at the end of the cycle which generally happened every 100 years. The next currency will not be tied to a country. More and more people are learning that its pointless to do a fiat currency.

On top of this, the world is digital now, and exchanging value is at the heart of everything that is done in the world. Just like the internet is for the most part neutral, a way to exchange value all over the world also needs a neutral mechanism.

The list actually goes on and on, but these are just some highlights.

 

[poopy]

Puts are only cheap when you know they will pay out.. like forecasting $500K BTC. I love these million/billion /coin values. Like there is a limit to stupidity.

 

[NoahA]

Puts are only cheap when you know they will pay out.. like forecasting $500K BTC. I love these million/billion /coin values. Like there is a limit to stupidity.

I think its a really good initial target when you consider the market cap of gold. Bitcoin should absolutely reach this level in my opinion.

 

[newwurldmn]

You buy insurance expecting it to not payout. If bitcoin is insurance then you expect it to go to zero while whatever it is protecting doesn’t.

Historic performance is the dumbest reason to say it will go to 500k.

So were disco record sales.

Sure, all speculation, and no guarantee, but you buy insurance when PUTs are cheap... right?

The reason why people are sure is partly because of the price history of bitcoin. We see the cycles of adoption, and there is no reason to assume it wouldn't continue. Bitcoin is looked at like a network, so it benefits from network effects, just like the internet. The more people who use it, the more use it has, and exponentially so.

Bitcoin has many properties that people like, be it a store of value, or method of exchange, and simply your only way to save if you're not in the lucky 1B of people who have access to banking.

When you also look at the history of world reserve currencies, you see that USD is at the end of the cycle which generally happened every 100 years. The next currency will not be tied to a country. More and more people are learning that its pointless to do a fiat currency.

On top of this, the world is digital now, and exchanging value is at the heart of everything that is done in the world. Just like the internet is for the most part neutral, a way to exchange value all over the world also needs a neutral mechanism.

The list actually goes on and on, but these are just some highlights.

 

[newwurldmn]

I think its a really good initial target when you consider the market cap of gold. Bitcoin should absolutely reach this level in my opinion.

so the market cap of Renoir paintings should equal the market cap of gold? What about USD’s? Or the stock market?