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

[singlecross]

Maybe I should just put in all into pork bellies!

Cannabis, dude, cannabis.

[stalefish3169]

That isn’t why.

People don’t talk about their investments the way that you talk about BTC. They don’t talk about things they buy with their hard-earned fucking money the way you talk about BTC. They don’t even talk about their kids the way you talk about BTC.

The only real analogy is religion and politics - those topics where logic isn’t really a part of the conversation and tribe is the most important thing. It’s weird and you’ll continue to get called out for it, even if it’s also occasionally entertaining. Nobody wants you to lose money or be unsuccessful, outside of hoping that maybe a hard turn will get you to turn down the hysteria a little bit.

BTC is demonstrably terrible for the environment and I have my doubts that it’s actually a boon to any economy that isn’t itself (though I don’t have high confidence that I won’t be proven wrong over time on that second point).

Some people think a corrupt system premised upon violent imperialism and infinite growth of the money supply that overwhelmingly benefits the already rich is terrible for the environment. Maybe it's time for a change???

https://prospect.org/economy/powell-...t-was-tanking/

https://www.cnbc.com/2021/10/18/the-...us-stocks.html

[Falcon3]

Maybe I should just put it all into pork bellies!

That’s actually a great idea. Bacon went from $3.99/lb to $6.99/lb at my store overnight

[byates1]

listen to the percentages this guy is talking about. interesting. btc if it continues will not be an investment, hedge, currency etc. it will be the evolution of sovereignty rights for the entire population.

[NWFlow]

Some people think a corrupt system premised upon violent imperialism and infinite growth of the money supply that overwhelmingly benefits the already rich is terrible for the environment. Maybe it's time for a change???

https://prospect.org/economy/powell-...t-was-tanking/

https://www.cnbc.com/2021/10/18/the-...us-stocks.html

What percentage Bitcoin in the US are owned by the wealthiest 10 percent of Americans?

[stalefish3169]

What percentage Bitcoin in the US are owned by the wealthiest 10 percent of Americans?

Bitcoin isn't perfect and won't solve all the world's problems. But it does make many improvements over the old system, IMO. Bitcoin and crypto are relatively unique in that it's one of the first asset classes where plebs are frontrunning the wealthy. In B4 Soros. Lol

In other news, I know I'm not allowed to talk about the price, but watching BTC just chilling at 62k is pretty cool.

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[shera]

Well I just bought more link with my eth mining returns. I'm doing it because that's the plan and I know that it can be hard to buy low and then lower and then lower. My COIN stock is finally in profit after the months that I was averaging down.

But this link thing, gah, have you seen the chart?

Please give me a dose of hopium, I am in need.

[MontuckyFried]

That’s actually a great idea. Bacon went from $3.99/lb to $6.99/lb at my store overnight

Oh wow! For real? I guess Trading Places was the oracle I should've been looking to all along!

[byates1]

But this link thing, gah, have you seen the chart?

Please give me a dose of hopium, I am in need.

roll it all into btc and watch it double in the next few months!

[stalefish3169]

Well I just bought more link with my eth mining returns. I'm doing it because that's the plan and I know that it can be hard to buy low and then lower and then lower. My COIN stock is finally in profit after the months that I was averaging down.

But this link thing, gah, have you seen the chart?

Please give me a dose of hopium, I am in need.

You're probably aware of this already, but general sentiment is that alts gonna take a beating for some time while money flows into BTC. Of course, everyone is also expecting money to flow from BTC -> ETH -> big caps -> small caps after BTC consolidates or tops. But since everyone is expecting it...maybe don't.

FWIW, whenever I'm feeling anxious about a trade I usually scale out (or in) about 10% at a time. That helps buffer decision making and cuts down on fomo/regret. Tax implications are something to consider as well. After being way up this tax year, I've been ok with cutting some losers before I might have otherwise, to bring down my Uncle Sam bill, which is going to be absolutely brutal. Long-term versus short-term cap gains also impact decision/timing.

[shera]

Yeah everything you say is legit. I just need somebody/anybody else to say they see the value in link like I do.

[shera]

roll it all into btc and watch it double in the next few months!

My strict btc plan is going very well, thank you! I do wonder how we will react at 100k and whether we will really go sky high next year...opinions on that?

[stalefish3169]

My strict btc plan is going very well, thank you! I do wonder how we will react at 100k and whether we will really go sky high next year...opinions on that?

Could def see us getting to 100 followed by a huge drop to 70ish when everyone will scream it's over again. Then it will melt faces and rip to 150-200+ on the final parabolic move.

Of course that's not financial advice. And a lot will have to go right wrt overall macro picture beyond BTC for that to happen.

[Meathelmet]

I just need somebody/anybody else to say they see the value in link like I do.

Well, that is a interesting position for one to take and base fiscal decisions upon...

Ok, I'll act as a placeholder: I see value in link, just like you.

I don't know what you "gained" from my "insight", truth to be told, as I am not a clairvoyant.
Neither is anyone else, afaik.





"That loaded slope looks safe. Tell me it is safe and I'll send it."

[shera]

I have mixed feelings about your response. While I agree that everyone needs to make their own financial decisions, these are networks with network effects and not at all like bc skiing in that regard. Well maybe you could consider that a factor in slope safety is skier traffic.

Anyway, I was a little tongue in cheek, I'm not changing my link plan based on anything you say.

[MakersTeleMark]

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

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

[CovertM]

Could def see us getting to 100 followed by a huge drop to 70ish when everyone will scream it's over again. Then it will melt faces and rip to 150-200+ on the final parabolic move.

Of course that's not financial advice. And a lot will have to go right wrt overall macro picture beyond BTC for that to happen.

What happens after the final parabolic move? Didn't know there was an endgame theory here. Stabilizes at 150k-200k?

Honestly asking...

[stalefish3169]

What happens after the final parabolic move? Didn't know there was an endgame theory here. Stabilizes at 150k-200k?

Honestly asking...

So it is important to know that BTC has thus far followed approximately 4 year price cycles, largely due to the miner rewards getting cut in half at that frequency. Each cycle so far has had less volatility. Many, including myself believe that in addition to less volatility, the cycles are becoming longer. Should we see a parabolic run with a blow-off top, similar to previous ones, I suspect there will be a large selloff, though maybe closer to 50% than 80%? But short answer is nobody really knows.

I think after the 2013 top and Mt. Gox hack there was a much greater chance that BTC could've faded off to live alongside Beanie Babies and Pets.com. After 2017, there was a lesser chance of that happening, but still significantly greater than zero. At this point I don't think there's much of an argument that crypto is here to stay in some form or another. I think institutions will have a large share of crypto after this run that they'll be happy to sell to plebs, after they worked very hard to shake them out on the way up. So one scenario is that the man won't want to stomach such a huge drop which will mitigate price droppage. We'll see, I suppose.

[MakersTeleMark]

What happens after the final parabolic move? Didn't know there was an endgame theory here. Stabilizes at 150k-200k?

Honestly asking...

[byates1]

^lol. but truth. listen to the stock to flow guy. stale and i pretty much have the same outlook. it'll run hard, pull back, be over for a while and run hard again, generally speaking. 2024 next halving. 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.

knocking on ATH right now. i'm taking 4 months off this season, and every season after, but may stop working a month earlier if btc just goes banana's.

why work when i can drive around the country skiing every day! thx btc!

converted paper into s african gold today!

[bennymac]

^lol. but truth. listen to the stock to flow guy. stale and i pretty much have the same outlook. it'll run hard, pull back, be over for a while and run hard again, generally speaking. 2024 next halving. 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.

knocking on ATH right now. i'm taking 4 months off this season, and every season after, but may stop working a month earlier if btc just goes banana's.

why work when i can drive around the country skiing every day! thx btc!

converted paper into s african gold today!

Nice - I like your style!

[LeeLau]

What stale and byates said. BTC in particular has followed that pattern for a while. When the Chinese regulation knocked price back (but not down for the count) it increased my conviction that the up cycle was back therefore my conviction to buy more.

I'm actually surprised there's not been a bit of a shorter term pullback. BTC has run very fast in the last while.

I do also feel that after BTC spikes past its previous highs it'll also fall back into the new range and alt coins will then get back into favour. To that end I'm looking into more pure tech blockchain enablers such as Sol, AvX, XRP, Card/ADA. But that's later.

[stalefish3169]

LLLLFFFFFGGGGG!

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[shera]

Oh baby!

[shera]

Preston psych just released a podcast with planB. Really enjoyable