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Where are the bitcoin lovers now?

Bible_Belt

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Bitcoin was ruined by scammers. Crypto in general has become a currency of thieves despite being in its infancy. A classic example about how ****ty people in our world never let us have nice things for very long.

I intend to never touch the stuff.
The government hates crypto. And as long as that is the case, you can't use the power of the law to keep those scammers at bay.
 

wifehunter

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You just lost another 2% on BTC in the less than 30 days since that post. Whatever books you are reading, you had better put them down before you go broke.

Marrying a bad investment because you think you are smarter than the market is the surest way to go broke. It also happens a lot on the backside of giant bubbles when all the new money thinks they are geniuses. I watched it happen after the dot com stock market bubble, and BTC isn't much different. Human psychology still drives the trading market of anything.
I can't help you, if you continue in your willful ignorance. Enjoy your extinction, old dinosaur.
 

Epicwinguy

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I remember a few months ago there were several posters who were talking up bitcoin like there was no tomorrow.

Now that Bitcoin has dropped to 6K and is nearing the point of no return where it costs more to mine the coins than the coins are actually worth(somewhere around 5K), they seem oddly quiet...

When something seems too good to be true it usually is. The technology itself has a lot of promise but it appears bitcoin might be extinct in the near future...
I saw on Robinhood bitcoin is at 9000...
 

jaygreenb

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I can't help you, if you continue in your willful ignorance. Enjoy your extinction, old dinosaur.
Have a feeling we are going to get a run up in the next few months into the halving, then dump again. I could see it not breaking 20k until late 2020/early 2021, then off to the races. Of course nobody knows and it will be interesting to see what happens when we go into a global recession. The stage is being set though with everything happening with the banks in terms of QE,negative interest rates and the repo market.
 

wifehunter

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Have a feeling we are going to get a run up in the next few months into the halving, then dump again. I could see it not breaking 20k until late 2020/early 2021, then off to the races. Of course nobody knows and it will be interesting to see what happens when we go into a global recession. The stage is being set though with everything happening with the banks in terms of QE,negative interest rates and the repo market.
+1

Time will tell.
 

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RickTheToad

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+1

Time will tell.
Have a feeling we are going to get a run up in the next few months into the halving, then dump again. I could see it not breaking 20k until late 2020/early 2021, then off to the races. Of course nobody knows and it will be interesting to see what happens when we go into a global recession. The stage is being set though with everything happening with the banks in terms of QE,negative interest rates and the repo market.
I think your both nuts. Bitcoin is backed by nothing. It's fun money... Until you lose it.. But owning physical gold, silver, copper and platinum/palladium can be a good hedge.
 

Poonani Maker

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jaygreenb

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I think your both nuts. Bitcoin is backed by nothing. It's fun money... Until you lose it.. But owning physical gold, silver, copper and platinum/palladium can be a good hedge.
I believe gold, silver etc is great to own too and you should have both. I just don't think it has the same upside. You don't you fully understand the value prop. The main value drivers are decentralization, security of the network and fungibility. It is the most secure payment network ever created.
 

Julian

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I believe gold, silver etc is great to own too and you should have both. I just don't think it has the same upside. You don't you fully understand the value prop. The main value drivers are decentralization, security of the network and fungibility. It is the most secure payment network ever created.
Yeah but its overpriced and value is based still onthe dollar. Physical gold an silver has intrinsic value and you actually have it in your possession. Im not against crypto but like anything else in our tech based currency society its just numbers in a computer
 

jaygreenb

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Yeah but its overpriced and value is based still onthe dollar. Physical gold an silver has intrinsic value and you actually have it in your possession. Im not against crypto but like anything else in our tech based currency society its just numbers in a computer
How do you determine it's overpriced? What metrics are you using? I could show you several studies we are actually right around the correct value based on a number of factors. I'm not saying people should put all they have into it, honestly think for the masses, 1-5% of net worth is a responsible number. If this is the future of money, the upside is incredibly high and would offset losses in the case of financial system collapse
 

RickTheToad

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How do you determine it's overpriced? What metrics are you using? I could show you several studies we are actually right around the correct value based on a number of factors. I'm not saying people should put all they have into it, honestly think for the masses, 1-5% of net worth is a responsible number. If this is the future of money, the upside is incredibly high and would offset losses in the case of financial system collapse
Dude you watch too much sci-fi. The markets are not going to collapse any time soon. If the world decentralizes, there will be no electricity or Internet; or spotty at best. With that said, how are you going to access your crypto? You ain't. Precious metals will always be accessible. Silver and gold would skyrocket should we enter choppy waters like in 2007 - 2011. Crypto is backed by numbers and an algo. It's basically digital fiat money.
 

jaygreenb

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Dude you watch too much sci-fi. The markets are not going to collapse any time soon. If the world decentralizes, there will be no electricity or Internet; or spotty at best. With that said, how are you going to access your crypto? You ain't. Precious metals will always be accessible. Silver and gold would skyrocket should we enter choppy waters like in 2007 - 2011. Crypto is backed by numbers and an algo. It's basically digital fiat money.
I watch no sci-fi, I do pay attention to financial markets and global trends though. Pay attention to countries outside the west, some are already going through hyper inflation or close to it now. There has never been a usable alternative outside of national currencies, now there is. We are spoiled with stability, many countries are not. I think precious metals are good to own too, nothing against them. They are just not easily transact-able especially if it is not peer to peer. Why would there be no internet or electricity if the the world decentralizes? Bitcoin is not like fiat currency, there is a finite supply and everyone knows the rules and creation rate. Fiat currency is at the whim of central banks and politicians. I like silver and gold, just think there is a major role crypto will play too. Let's see how the next few years play out.
 

Poonani Maker

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Guys, quite frankly, I don't know WHAT to do. It's so fvcked. I think that if it were to ALL go down, um, what in the world would we do with all these houses (million dollar ones are EVERYWHERE)? All these people evicted so the banks will have to upkeep ALL these properties or they'll go to ruin. There's a lot of REAL. I have a feeling that all these people out there losing their high-end homes leveraged to the hilt will not be having to leave their homes in a end-all be-all collapse. All those bankers can't live in all those ridiculously expensive homes. It's all a murky muddy mess IN AMERICA. Russia is living Real and that is why all its pop is poor AF. America has all these nice luxuries Falsely, through propped-up printing ad infinitum. Living falsely more than a lifetime. If you're Russian, you must be as well as all other nations must be extremely feeling Schadenfreude, that we are living lifetimes of vulgar wealth because we hold the world's currency. It's a power unheard of or never seen before in history (except Rome? when they started degrading their silver pieces - we've degraded ours trillions of times over and it's all based on FAITH or Belief that ours is the one to take for good tender).

I guess REAL anything is the only way to truly protect what you've worked for from the scary twists and turns the future may take like our currency losing world's reserve currency, and dollars for oil scam (since the 70s). "I have my ducks in a row," but DO I? Also, millennials can't afford homes so buying up a few rentals is kinda scary too but you may never be able to sell them! when everybody is just about completely SERFS.
 

Julian

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How do you determine it's overpriced? What metrics are you using? I could show you several studies we are actually right around the correct value based on a number of factors. I'm not saying people should put all they have into it, honestly think for the masses, 1-5% of net worth is a responsible number. If this is the future of money, the upside is incredibly high and would offset losses in the case of financial system collapse

Im using reality metrics. its not easily accessible. you cant buy sh1te with it. its just numbers im a computer. its value is limited in the sense that the fluctuation and determination of what its worth is completely dependant on some AI or the big fish of bitcoin setting the prices. just like in the banking industry of the world. its all market manipulation created to get the big dawgs even richer and keep the layman sucker where he belongs. just like the stock market. its all bullsht. ALL OF IT.

Ill stick to whats had value since ancient times. land, gold, silver, food, water, knowledge. not all this 1's and 0's in the matrix system setup for people to get conned. id rather have gold sitting in a vault then dealing with the scum markets trying to gain minimal interest levels etc. the entire financial system is a complete and utter joke. usury is a sin anyway and most banking types ive met were really slimey. also real estate agents (another worthless middleman con artist).
 

jaygreenb

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Im using reality metrics. its not easily accessible. you cant buy sh1te with it. its just numbers im a computer. its value is limited in the sense that the fluctuation and determination of what its worth is completely dependant on some AI or the big fish of bitcoin setting the prices. just like in the banking industry of the world. its all market manipulation created to get the big dawgs even richer and keep the layman sucker where he belongs. just like the stock market. its all bullsht. ALL OF IT.

Ill stick to whats had value since ancient times. land, gold, silver, food, water, knowledge. not all this 1's and 0's in the matrix system setup for people to get conned. id rather have gold sitting in a vault then dealing with the scum markets trying to gain minimal interest levels etc. the entire financial system is a complete and utter joke. usury is a sin anyway and most banking types ive met were really slimey. also real estate agents (another worthless middleman con artist).
Do whatever you feel comfortable with, all that you listed should be a part of someone's portfolio. My argument is that it would be wise to allocate a small percentage to this asset class. Only time time will tell if it was worthwhile. I think it will pay off over the next few years. Let's just wait and see what happens.
 

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zinc4

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Lmao.
I remember a few months ago there were several posters who were talking up bitcoin like there was no tomorrow.

Now that Bitcoin has dropped to 6K and is nearing the point of no return where it costs more to mine the coins than the coins are actually worth(somewhere around 5K), they seem oddly quiet...

When something seems too good to be true it usually is. The technology itself has a lot of promise but it appears bitcoin might be extinct in the near future...
.


This post will not age well....zoom out on bitcoins chart man...6k was a healthy retrace at the time of your op.
 

switch7

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Will be interesting to see how bitcoin performs over the coming months with the coronavirus and potential financial meltdown...
 

Bible_Belt

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Lmao.
.
This post will not age well....zoom out on bitcoins chart man...6k was a healthy retrace at the time of your op.
Bitcoin went from 8k to 6k today. That must be another one of those "healthy retraces" as you say.
 

Ohso-Phresh

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Bitcoin went from 8k to 6k today. That must be another one of those "healthy retraces" as you say.

Right here, stacking sats like no tomorrow.

DCA getting lower and lower, loving this market!

btw, we are in a reversal not a retrace of the intermediate fractal.
 

RickTheToad

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Right here, stacking sats like no tomorrow.

DCA getting lower and lower, loving this market!

btw, we are in a reversal not a retrace of the intermediate fractal.
We're at 5.3k now dude. I will admit, I've been buying some on the way down though.
 
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