Bitcoin....who's gotten into it?

**shera** · 10-20-2021, 08:27 AM

https://twitter.com/PrestonPysh/stat...58428154744832

**byates1** · 10-20-2021, 09:05 AM

Hey BTC. Congrats. Welcome to new price discovery mode.

Keep taking over the world. Nice job!

**stalefish3169** · 10-20-2021, 10:03 AM

Originally Posted by shera

Preston psych just released a podcast with planB. Really enjoyable

Nice! I will take a listen. Listening to Preston a few days back calling out Cuban for shilling DOGE on Ellen was very satisfying.

**LeeLau** · 10-20-2021, 10:11 AM

To mitigate understandable exuberance here is a bear side article re crypto

https://nymag.com/intelligencer/2021...-a-bubble.html

**MultiVerse** · 10-20-2021, 10:13 AM

Originally Posted by byates1

although the more btc is adopted the more stable it becomes and as the price increases to reflect a real global store of value, the 50/80% swings should dissipate.

In spite of hitting new highs of $66K Bitcoin is just as volatile today as when it was worth $6,600, or $660, or $66. Bitcoin's price does not become less volatile as adoption grows:

https://www.buybitcoinworldwide.com/volatility-index/

Originally Posted by LeeLau

To mitigate understandable exuberance here is a bear side article re crypto

https://nymag.com/intelligencer/2021...-a-bubble.html

For all the talk about cycles what gets left out is the pandemic resulting in a flood of fiat liquidity, “Crypto people think it’s an antidote to central-bank bubbles, but it has actually become a symptom,”

So the big unanswered question, in spite of many folks assuming BTC is an inflation hedge, is what happens when reserve banks began tapering and liquidity is taken out of the system. Because instead of a cycle, that's perhaps the main contributer to crypto winters in the past.

**shera** · 10-20-2021, 11:01 AM

I am guessing we will have another 80% drawdown.

**shera** · 10-20-2021, 11:02 AM

From 500k to 100k, hahahaha.

**byates1** · 10-20-2021, 11:18 AM

Also a special shout-out to pure gravity for taking time away from his important gondola cable research to help get BTC down to 30k.

**shera** · 10-20-2021, 11:34 AM

I bought BABA today. Lyn Alden tweeted about Chinese stocks.

**ski_adk** · 10-20-2021, 01:45 PM

Is too late to join this party?

**Bunion 2020** · 10-20-2021, 03:40 PM

Nope, liquidate everything and bet it all to win.

**byates1** · 10-20-2021, 05:57 PM

^ dca in over a period of time, we will prob retrace a bit. let it run, convert some(half or more)into usdc. wait for the pullback, then rebuy in at a lower pricepoint.

then continue to accumulate. so no, it's not too late.

**stalefish3169** · 10-20-2021, 06:39 PM

Originally Posted by ski_adk

Is too late to join this party?

Check out the timeline (post 19) in this epic tweet thread . This is what the visionaries and doers are planning for. They are thinking a decade + out. So no, I don't think you're too late. However, there are plenty of salty curmudgeons in this thread who contribute nothing beyond negative vibes and bad faith arguments and have been screaming BTC is going to zero since page 1. These are the same type of people who claimed in 1995 the internet was never going to amount to anything and laughed while the Wright Brothers were flying at Kitty Hawk.

I think byates is correct that if you're new to all this, dollar cost averaging into BTC is a good strategy. Say you have 10k total you want to invest. Start with 1k into BTC and give it a few weeks. Get used to what it feels like buying and holding. Later on you can decide if you want to keep building your position at regular intervals. The new BTC reward cards from Fold, BlockFi, Coinbase, etc. are also an excellent low-risk way to start building a position. It's a long-term game of accumulation in my opinion. There are only 21 million BTC ever and over 50 million millionaires worldwide.

I highly recommend watching this 5 part series before putting any substantial amount of money in. Chris is one of my fav educators in the space. He stresses, it's up to you to decide the value of BTC.

https://www.youtube.com/watch?v=zjDowddhAoQ

TL;DR Lots of pros are forecasting BTC price targets by the end of this bull (probably somewhere in 1st half of 2022) run from 200-300k. BTC is the safest play, by quite a bit IMO. If you want max profits from a high-risk strategy, buy as much ETH, SOL, BNB, AVAX, etc. as possible. If you want to get even riskier, buy SHIB.

**Micol** · 10-20-2021, 08:20 PM

vision right here bros
freeride jacket cost you a cool $2,400,000

https://www.tetongravity.com/forums/...hlight=bitcoin

https://www.tetongravity.com/forums/...hlight=bitcoin

**Micol** · 10-20-2021, 08:23 PM

Originally Posted by Bunion 2020

Nope, liquidate everything and bet it all to win.

thats known as the "YOLO" move

you only live once....

**byates1** · 10-20-2021, 08:31 PM

^ reading those comments from 2012 are hilarious. to be fair, btc to most everyone then was a silly internet money project back then.

although to be fair to satoshi, it was designed as a legit alternative to other transaction mechanisms at the time, and was created in part as a reaction to the bail outs of the banks in 08.

the amount of money printed then seems trivial compared to this past 18 months.

**Micol** · 10-20-2021, 08:38 PM

sorry here's link for $2.4 million dollar freeride jacket bros and bro-esses...

https://www.tetongravity.com/forums/...hlight=bitcoin

oh and some used Lhasa pow 196's for $1,800,000 or $2,100,000 ish shipped....

**Micol** · 10-20-2021, 08:39 PM

Originally Posted by byates1

^ reading those comments from 2012 are hilarious. to be fair, btc to most everyone then was a silly internet money project back then.

although to be fair to satoshi, it was designed as a legit alternative to other transaction mechanisms at the time, and was created in part as a reaction to the bail outs of the banks in 08.

the amount of money printed then seems trivial compared to this past 18 months.

yeah there are some completely ridiculous comments there, make me chuckle now.............hehe

even one of mine altho i still would not put all retirement $'s in it...so im not back tracking that now...lol

hindsight 20/20 and all that

**LeeLau** · 10-20-2021, 08:54 PM

Originally Posted by byates1

^ reading those comments from 2012 are hilarious. to be fair, btc to most everyone then was a silly internet money project back then.

As recently as August 2021 there may have only been 10 or so us who were bullish GME on r/wsb.

In 2017, I was about the only idiot buying stock in Hydrogen companies.

Very late to the crypto party in Dec 2020 but that seems like ages ago

**shera** · 10-21-2021, 12:06 AM

Is wsb bullish on gme now? I scan superstonk once a week or so but find it tiresome.

**shera** · 10-21-2021, 07:29 AM

Originally Posted by MakersTeleMark

Show me a more adopted and ubiquitous oracle and I'll sell my linkies.

https://cryptobriefing.com/chainlink...ew-bull-rally/

I really like this article, as it confirms my bias.

**stalefish3169** · 10-23-2021, 06:27 PM

Watching Ed dunk on Sam for Worldcoin is pretty entertaining. It's also a good exercise reminding us why BTC actually is THAT good as arguably the most decentralized form of money. I generally like Sam and his blog. But c'mon man, you were surprised that people don't want their eyeballs scanned by an orb? Really? Lol

https://twitter.com/Snowden/status/1...rRYCz9MQw&s=19

Sent from my Pixel 3 XL using TGR Forums mobile app

**LeeLau** · 10-23-2021, 06:41 PM

Originally Posted by stalefish3169

Watching Ed dunk on Sam for Worldcoin is pretty entertaining. It's also a good exercise reminding us why BTC actually is THAT good as arguably the most decentralized form of money. I generally like Sam and his blog. But c'mon man, you were surprised that people don't want their eyeballs scanned by an orb? Really? Lol

https://twitter.com/Snowden/status/1...rRYCz9MQw&s=19
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My God Worldcoin has some governance issues from the constating docs right off the bat. I'm not saying it's as bad as EOS but there needs to be more checks and balances built in. It's an interesting concept. But really needs more thought put it into it from the user point of view

**MultiVerse** · 10-23-2021, 09:51 PM

Originally Posted by stalefish3169

It's also a good exercise reminding us why BTC actually is THAT good as arguably the most decentralized form of money.

Increasingly crypto in general and Bitcoin specifically are becoming controlled by capital and not the community. Bitcoin is not entirely decentralized and transfers are already being blocked for compliance reasons. For example, the largest Bitcoin mining pool recently blocked internet access from mainland China to comply with Chinese government regulations on crypto mining activities:

https://www.coindesk.com/business/20...ainland-china/

The word 'decentralized' in the context of bitcoin has taken on the additional meaning of protecting key actors operating the system rather than a 'permisionless' form of money. The Veil of Decentralization is helpful to participants in the blockchain because it provides a liability shield without making the blockchain system a legal person that could be sued even though blockchains are often controlled by people with concentrated power and human agency:

https://poseidon01.ssrn.com/delivery...pdf&INDEX=TRUE

We should strive to maintain a clear‐eyed understanding about how power actually operates within systems so that we can make informed decisions based on reality and not mythology.