Thread for people who don't entirely understand Bitcoin

[NoahA]

1. Just because something happened X times it is not guaranteed it would happen X+1 times. But again, using the same illogic I could argue that it will drop 70% again, because it already did X times.

2. Litecoin actually has more uptime than Bitcoin. Also let's wait until Tether collapses and see how that effects the price and the network.

1. Agreed. But for anyone who says its a ponzi or compares it to the tulip bubble burst, the fact that Bitcoin keeps coming back stronger means the comparison fails. And yes, it will drop again by maybe 50% or 80%. I've read that this is actually a feature. It provides liquidity for when its needed. Anything would if the financial system wasn't manipulated. Where would house prices be if governments weren't artificially dropping rates or providing shit tons of liquidity to force banks to lend? The idea of stability of anything in this world is fake.

What is stable though is the issuance schedule. A bitcoiner doesn't have to worry about massive printing coming online which governments think smooths out business cycles but instead just creates bubbles. The only force is a natural market force.... whatever someone is willing to pay for bitcoin at one point in time vs. what someone is willing to buy it for.

2. Litecoin came in Oct 2011. And where is the price now? I think the market has chosen.

If tether causes the collapse in price for bitcoin, I hope it does it soon because I need to allocate the last bit of capital on bitcoin. Honestly, if we dropped down to $5k, you have no idea how thankful I would be. But its an impossible dream. There are just far too many people waiting for a dip. A drop to 25k would I imagine fill most orders. Will anyone still sitting on the sidelines expect a drop to 16k again and refuse to buy until it reaches there? I bet any plunge will be met with huge buying. Nobody would want to miss the chance to buy in the 20's again, and so I bet it doesn't even get there.

 

[NoahA]

Here are some issues.

The summary says the long term impart is still uncertain. I can't say since I honestly don't study it, and of course a drop from 69k to 16k was very unfortunate timing. But as the price recovers and hits ATH, I'm sure that there will be a more positive forecast.

From what I do see, access to USD stablecoins is what Latin America really wants. Of course USD is still losing value, but much more slowly than the options that are down there. So its natural for people there to first want access to US dollars, and then they will eventually see how even this, although better than their own currency, is still highly problematic. In the US, we can of course see this, but they will catch on very quickly as well.

 

[Pekelo]

You clearly don't understand how to debate or what we are debating, and I am tired of educating people on long time refuted claims. So this is the last one...

1. it will drop again by maybe 50% or 80%. I've read that this is actually a feature.

2. A bitcoiner doesn't have to worry about massive printing

3. Litecoin came in Oct 2011. And where is the price now?

4. if we dropped down to $5k, you have no idea how thankful I would be.

1. Nope, that is not a feature, that is an incredible stupid and apologist thing to say. By the way for a currency (as BTC was intended) huge swings in valuation is very undesired. We want stability. Also you don't seem to understand that a quickly appreciating currency is not good for an economy because it encourages holding, instead of business activity.

2. Forking and the existence of other cryptos is still dilution because they can do the exact same thing like Bitcoin, not to mention they are sucking away investors' capital.

3. LTC's price is irrelevant because I was talking about uptime, you know, the network actually working and processing value transfers, as it was intended. LTC beats BTC in this regard, but you are not in it for the technology, obviously.

4. I am sure people who are buying now above 35K would be just as thankful at 5K.

Anyhow, your education ends here. I consider you a lost cause. Let's get back to this conversation in 10 years.

 

[NoahA]

So this is the last one...

Thank god! You saved me lots of time having to show you where you are wrong since you refuse to have an open mind.

 

[long]

But as the price recovers and hits ATH, I'm sure that there will be a more positive forecast.

I’d say it’s a little soon to be confident that a new ATH is an absolute, I mean that’s double the current price. And…positive headlines usually come at the end of a bull market.

 

[semperfrosty]

Thank god! You saved me lots of time having to show you where you are wrong since you refuse to have an open mind.

Hahaha.

Youve done well mate.Its a hard space to advocate for due to the FOMO and bitterness.

We're the 'crypto bros' for now till it becomes super,super,super obvious what BTC is all about.

The tide is slowly turning.One of the biggest detractors on here has recently asked us where the best place for him to invest is,Pekelo himself was invested in a shit coin back in the day-down 100% since 2019.Once bitten...

Forums are just a gauge of sentiment.Looking good at the moment.

Definitely don't want to be the one of the guys desperate to make an initial investment north of here.

 

[deaddog]

Definitely don't want to be the one of the guys desperate to make an initial investment north of here.

And why not? If it's going to break the all time highs an investment at 40K should give you a decent return. It's atrade. Just know where the exits are.

 

[semperfrosty]

And why not? If it's going to break the all time highs an investment at 40K should give you a decent return. It's atrade. Just know where the exits are.

I agree,of course.that everything is tradeable.