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

[shera]

Here comes sub 30k

I'm scrounging in the seat cushions!

[neckdeep]

[4matic]

It’s not that bad. Not even a 52 week low.

[byates1]

Lol!!

[neckdeep]

It’s not that bad. Not even a 52 week low.

[stalefish3169]

Just remember, it's people like this that will come to post in this thread in the year 2025 when BTC is trading over 100k to tell all of us holders we got lucky.

https://www.youtube.com/watch?v=stN03wk_Wzs

[J. Barron DeJong]

Just remember, it's people like this that will come to post in this thread in the year 2025 when BTC is trading over 100k to tell all of us holders we got lucky.

https://www.youtube.com/watch?v=stN03wk_Wzs

Maybe, but there were lots of people - maybe some who were much like you - who didn’t see this coming:



Bubbles are hard to spot, and predicting the timing of their demise is even harder.

[stalefish3169]

Maybe, but there were lots of people - maybe some who were much like you - who didn’t see this coming:



Bubbles are hard to spot, and predicting the timing of their demise is even harder.

Show me on the chart where tulips crashed and rallied to all time highs over and over. This is the dumbest analogy. It was cute once in 2011. Try harder.

[nickwm21]

As dumb as “bitcoin = car, dollar = horse” ?


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[summit]

I predict 20K... because that's my eye-ball moving average of the chart. Technical genius? Of course not: I am absolutely not an expert in this.

But who is? Nobody has been able to fundamentally explain why BTC is at a particular value at any point anyway.

So my WAG sounds good to me, but undoubtedly sounds like BS to BTC BLVs... but not good enough to take out a short position, although the one time I wanted to short BTC was Dec 2017, but back then I couldn't figure out a reasonable way to do it. I would have done well with that...

Carry on and good luck.

[MultiVerse]

Bitcoin isn’t falling, inflation as measured by Bitcoin is rising way too fast. The Bitcoin central bank needs to raise its interest rates!

[stalefish3169]

I predict 20K... because that's my eye-ball moving average of the chart. Technical genius? Of course not: I am absolutely not an expert in this.

But who is? Nobody has been able to fundamentally explain why BTC is at a particular value at any point anyway.

So my WAG sounds good to me, but undoubtedly sounds like BS to BTC BLVs... but not good enough to take out a short position, although the one time I wanted to short BTC was Dec 2017, but back then I couldn't figure out a reasonable way to do it. I would have done well with that...

Carry on and good luck.

Just because you're too intellectually lazy to do the research doesn't mean that BTC doesn't have value.

[J. Barron DeJong]

[summit]

Just because you're too intellectually lazy to do the research doesn't mean that BTC doesn't have value.

splain me whats going on right now?

[J. Barron DeJong]

Show me on the chart where tulips crashed and rallied to all time highs over and over. This is the dumbest analogy. It was cute once in 2011. Try harder.

How do you know they didn’t? Those data points are on pretty long time spans. Plenty of time for crash and rally.

I can’t say it’s definitely a bubble, but how can you be absolutely sure that it’s not?

[dunfree]

Show me on the chart where tulips crashed and rallied to all time highs over and over. This is the dumbest analogy. It was cute once in 2011. Try harder.

oh you silly little tool, there were all kinds of tulips getting bid up, making maxima and minima. Shitbulbs!

[J. Barron DeJong]

Show me on the chart where tulips crashed and rallied to all time highs over and over. This is the dumbest analogy. It was cute once in 2011. Try harder.

How about gold?

[4matic]

BTC has performed well since March 2020. A lot better than other “innovations.” I don’t see why it isn’t at risk to test those levels.

[dunfree]

How do you know they didn’t? Those data points are on pretty long time spans. Plenty of time for crash and rally.

I can’t say it’s definitely a bubble, but how can you be absolutely sure that it’s not?

www.oldtulips.org provides pretty pictures and limited price data. Tulipomania mostly comes from Mackay

[stalefish3169]

splain me whats going on right now?

We're in a multi-decade global deleveraging event and the bond market is fundamentally broken.

The fed has been irresponsibly pumping up markets for a long time. This accelerated in 2009 via crooks like Timothy Geithner who insisted that the government needed to "inject" hundreds of billions of dollars into the banking system to compensate his banker buddies for the crash they created. QE picked up pace over the years and increased exponentially in 2020 with Covid. The rich got extremely richer and we now have the worst inequality in nearly 100 years. Since shit flows down hill, the fed is driving us into a recession to tame inflation that is largely their fault and the little guys will most likely suffer the most while the rich swoop in to buy the dip. "The man" is furious about the small gains labor has made due to the pandemic and will now attempt to clawback what they view to be rightfully theirs as ruling oligarchs. BTC is part of this shakeout. In a very rare occurrence, the little guys front ran big money on BTC and now they are being shaken out as the ruling class buys it up. Meanwhile the BTC network is operating as designed with blocks being created approximately every 10 minutes and newly issued BTC is becoming programmatically scarcer overtime as USD and other fiat currencies get inflated to infinity. BTC holders will be rewarded in the coming years.

You might think this is all very dark, and you'd be correct. But keep in mind that we live in a world with imperialists who think it's ok to use depleted uranium munitions on little kids that live on the other side of the world as long as the digital number they state at on a screen goes up.

[J. Barron DeJong]

We're in a multi-decade global deleveraging event and the bond market is fundamentally broken.

The fed has been irresponsibly pumping up markets for a long time. This accelerated in 2009 via crooks like Timothy Geithner who insisted that the government needed to "inject" hundreds of billions of dollars into the banking system to compensate his banker buddies for the crash they created. QE picked up pace over the years and increased exponentially in 2020 with Covid. The rich got extremely richer and we now have the worst inequality in nearly 100 years. Since shit flows down hill, the fed is driving us into a recession to tame inflation that is largely their fault and the little guys will most likely suffer the most while the rich swoop in to buy the dip. "The man" is furious about the small gains labor has made due to the pandemic and will now attempt to clawback what they view to be rightfully theirs as ruling oligarchs. BTC is part of this shakeout. In a very rare occurrence, the little guys front ran big money on BTC and now they are being shaken out as the ruling class buys it up. Meanwhile the BTC network is operating as designed with blocks being created approximately every 10 minutes and newly issued BTC is becoming programmatically scarcer overtime as USD and other fiat currencies get inflated to infinity. BTC holders will be rewarded in the coming years.

[summit]

I understand your position, but I don't understand how that results in BTC being down 55% over 6 months with all that going on as it should be up substantially, not way down.

[stalefish3169]

I understand your position, but I don't understand how that results in BTC being down 55% over 6 months with all that going on as it should be up substantially, not way down.

Which part of shakeout wasn't clear? Price lags behind fundamentals.

[4matic]

Like gold, there is no scarcity because supply has been exponentially multiplied with derivatives

[stalefish3169]

Please explain to me how the world and especially the USA are operating well right now! I'd love to hear you lay out your case on how everything is going swimmingly and the average Joe's financial situation is getting better everyday. And don't even try to come with some BS about how everything was great until Covid and Putin messed it all up.