I wrote this nearly one year ago to the day--- And this is exactly what has happened. I boldfaced the important part for ya'll. 
If you think the Fed will stop hiking, look at Bitcoin
- Thread starter Maverick2608
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That's a fairly weak argument for value. But, yeah, it's still flying high. Not unlike a bumblebee. (Where's the damn stinger when you need it?I wrote this nearly one year ago to the day--- And this is exactly what has happened. I boldfaced the important part for ya'll.
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I specifically wrote that whether or not there is actual value, "it doesn't"matter"--- Value is in the eye of the beholders, and this has played out exactly as I wrote, and tbh, I think it will continue to play out that way.That's a fairly weak argument for value. But, yeah, it's still flying high. Not unlike a like a bumblebee. (Where's the damn stinger when you need it?
Indefinitely? Because that's what the hodlers believe.
No idea, I wrote in my other thread that I worry about the bubble BTC has created, not BTC itself, but the ancillary bubble. And just yesterday I think it was the chap that runs NY state's public employee retirement pension, the retirements of teachers, police, fire fighters etc, had taken a huge stake in BTC recently. That kind of stuff is worrisome, but who knows.
https://www.elitetrader.com/et/threads/2024-stock-picks.377535/page-14#post-5935098
One things for sure though, all the logic and computer modeling in the world will never top the gift of a deep understanding of human nature.
I'm not sure I follow. I saw your other post, but it doesn't quite clarify.
BTC has a vulnerability no other hard asset like gold or silver has.
IF, and it's a big IF, we get into an exchange with Russia or China, it's highly likely that will involve an EMP. What happens to BTC then? They say the block chain can't be hacked, but what if is?
For the record, never owned BTC, a bit of an agnostic as far as a "store of value". I don't see it ever becoming a common means of exchange for day-to-day goods and services.
IF, and it's a big IF, we get into an exchange with Russia or China, it's highly likely that will involve an EMP. What happens to BTC then? They say the block chain can't be hacked, but what if is?
For the record, never owned BTC, a bit of an agnostic as far as a "store of value". I don't see it ever becoming a common means of exchange for day-to-day goods and services.
Baron
ET Founder
Hacking the blockchain would be like trying to hack the Bible. If you wanted to change a verse in the Bible to say that Jesus turned water into Bourbon instead of turning it into wine, how would you accomplish that? You could easily change your own Bible, but the trick is that you've also got to change the Bible of every person who currently owns one. That would be impossible of course because there are just way too many copies of the Bible in circulation.
Likewise, the Bitcoin blockchain can't be hacked because doing so would require that you hack each and every copy of the full and complete blockchain that is stored on computers all over the world. These computers are called Bitcoin nodes, and each node on the network has a complete copy of the entire Bitcoin blockchain on it. There are tens of thousands of nodes across the globe. Even if you were to hack a handful of nodes, that wouldn't accomplish anything at all. You'd need to hack all the nodes, similar to how you would need to hack every copy of the Bible to make the water-to-bourbon story permanent and believable.
Your fixation on bourbon is noted.
Thank you for that reply. I did not know how the BC works.