If BTC breaks through $20,000 next stop $10,000.........

jnbadger said:
Because I like helping people, and I don't want others to fall into the same trap.
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No, just because you are scared of Bitcoin doesn't mean everyone in the world has to be too.

It takes a lot of balls to hold Bitcoin. Something not everybody has.
 
FreeGoldRush said:
All speculative activity is on ice and prices are dumping: tech stocks, collector baseball cards, crypto, day trading, IPOs, etc. If you don't look at Bitcoin in this context you are missing the boat. Crypto had large leverage wound up in it by people overseas. As speculative assets all got crushed the amount of leverage was revealed and it unwound.

I plot and correlate speculative asset activity for my trading. It comes in waves and different asset classes correlate strongly. If you somehow think Bitcoin at $20k right now means the world will never want bitcoin again then you are very likely to get yourself humbled. There is no sign the correlation between bitcoin and other speculative assets is broken. The cycle is much closer to it's bottom now than it was just two months ago (in terms of price, not necessarily time).
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Similar was said about .com and many went to 0. Some lost over 90% and recovered because there was something real behind. There is nothing behind crypto apart from greed and fraud for the most part. Crypto did not solve a single problem that existed.
 
RedDuke said:
Similar was said about .com and many went to 0. Some lost over 90% and recovered because there was something real behind. There is nothing behind crypto apart from greed and fraud for the most part. Crypto did not solve a single problem that existed.
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Wow. The devil is in the details. lol. Those are some crazy broad brush strokes you are using. The dotcom boom produced some excellent technology that business is built on today. The world really pivoted at the time. I remember it well and worked in tech as an engineer through it all.

Blockchain and smart contracts solve just as many problems as the Internet did. We currently live in a world where monopoly powers in banking control every transaction we all enter into. It's so bad that only the largest companies can even go public. Financial services are very expensive and extremely low-tech. There are huge expenses that smart contracts can remove.

But I'll stop there. You aren't interested in the tech. That's fine. Most people I knew in the 1990s were 100% certain they'd never use that stupid Internet stuff.
 
Trader Curt said:
No, just because you are scared of Bitcoin doesn't mean everyone in the world has to be too.

It takes a lot of balls to hold Bitcoin. Something not everybody has.
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It's that kind of thinking that makes bitcoin a poor investment.
If ya don't hold it you're a sissy, etc,etc.
No one can come up with a good reason why it should increase in value. That's what I'm looking for, any reason besides it always goes up, it has to.
 
deaddog said:
No one can come up with a good reason why it should increase in value. That's what I'm looking for, any reason besides it always goes up, it has to.
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Widely held, decreasing supply (yes, for real. I'm happy to discuss details if you'd like), technological advantage over currencies, gold silver, etc., history of demand and faith (ala gold).
 
deaddog said:
It's that kind of thinking that makes bitcoin a poor investment.
If ya don't hold it you're a sissy, etc,etc.
No one can come up with a good reason why it should increase in value. That's what I'm looking for, any reason besides it always goes up, it has to.
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shhh, let them bleed out. not too much, I dont want them on the public dole . we have enough deadbeats already
 
FreeGoldRush said:
Widely held, decreasing supply (yes, for real. I'm happy to discuss details if you'd like), technological advantage over currencies, gold silver, etc., history of demand and faith (ala gold).
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So at the present time is bitcoin under or overvalued at 20K

I can see widely held and decreasing supply. (so in theory demand will determine the price, what will drive the demand?) Bitcoin will be rare but there is no reason another crypto won't come on the market that will erase that demand.
Not sure that it has a technological advantage over currencies at this time. Can't think of anything I can't do with dollars that I can do with bitcoin.
I like the ability to move money freely between countries. Especially without involving banks.
It doesn't match up to gold because it has no other use. Gold is bright and shiny, makes nice jewelry and can be used in electronics.(It's a commodity)
I could see a crypto currency backed by gold.
Faith seems to be the driving reason to own bitcoin at this time.
 
deaddog said:
It's that kind of thinking that makes bitcoin a poor investment.
If ya don't hold it you're a sissy, etc,etc.
No one can come up with a good reason why it should increase in value. That's what I'm looking for, any reason besides it always goes up, it has to.
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You just say that because you are one...
 
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