What is the peak price bitcoin will reach in 2021

[mookiemcgee]

maybe bitcoin will save the west from 3rd world status

You seem to have a way of trying suggest I've said something I haven't.

I never said bitcoin will save the west from 3rd world status.

Do you often conflate ideas in your own mind and attribute them to others?

I also never said gold is only a thing of the past, I said ignoring bitcoin/digital currencies and writing them off as speculative bubbles that will eventually go to zero means you live in the past.

[2dimes]

Do you often conflate ideas in your own mind and attribute them to others?

Maybe.

Let's get pizza.

I'm in!

[mookiemcgee]

Do you often conflate ideas in your own mind and attribute them to others?

Maybe.

Let's get pizza.

I'm in!

https://news.bitcoin.com/how-to-buy-piz ... coin-cash/

[2dimes]

when Lazlo purchased a pizza for 10,000 bit coins...

3,188,920,100.00 United States Dollars for two pizzas?

I'm out.

[mookiemcgee]

when Lazlo purchased a pizza for 10,000 bit coins...

3,188,920,100.00 United States Dollars for two pizzas?

I'm out.

Don't say that til you've tried the pizza!

[2dimes]

Ok, I'm back in but I'm only chipping in a fiver.

[mookiemcgee]

Ok, I'm back in but I'm only chipping in a fiver.

[2dimes]

https://www.huffpost.com/entry/spocking ... b_12026272

[HitRed]

Interesting read on Bitcoin

https://www.nytimes.com/2021/01/12/tech ... tunes.html

[mookiemcgee]

My father send me this globe and mail link for Canadian investment options for bitcoin

https://www.theglobeandmail.com/investi ... -consider/

[mookiemcgee]

Interesting read on Bitcoin

https://www.nytimes.com/2021/01/12/tech ... tunes.html

You would think someone would just write their key on paper and put it in a safety deposit box or something (mine's buried in armati backyard next to his gold).

Here's another story on the same guy... looks like he has 2 tries left before it's lost forever.

https://www.marketwatch.com/story/he-co ... 1610468562

[mookiemcgee]

Cryptocurrencies lose almost $200 BILLION in 24 hours as bitcoin plummets
https://www.rt.com/business/512107-cryp ... in-losses/

Less than a week later it's recovered and should hit all time highs by tomorrow am

[armati]

Yes Mook, Bitcoin is volitile, which is why its not suitable for business.
How many people would take it for a 100k sale when it can lose 40k in an hour?
It has to be changed to currency immediatly, the reciever is not after bitcoin, they want currency.
I posted this explanation earlier.

In any case. A little more info.

Bitcoin Death Signal?: What the U.K. and HSBC Clampdown Really Means for the Cryptocurrency
https://youtu.be/dNTbTsCCmSI

[mookiemcgee]

Yeah, I mean why would any business want to be paid in a currency that is constantly increasing in value vs the currency they pay for their expenses with. You'd have to be a capitalist to even make sense of it.

[armati]

why would anyone spend a currency that will be more valuable tomorrow than today?

Go ahead and spend any you have.

[mookiemcgee]

why would anyone spend a currency that will be more valuable tomorrow than today?

Go ahead and spend any you have.

You do realize most companies try to actually bring in more money than they spit out. The goal is not to spend it all

[armati]

I think youve missed the point, but no big deal.
If you like bitcoin, buy it.


https://www.kitco.com/news/2021-01-15/B ... notto.html

Bitcoin could be 'wiped out' if this happens - Ryan Giannotto

Just a point of interest.

[mookiemcgee]

Why banks are so excited about crypto, securely move massive amounts of money at virtually no cost an in under 1 min:

https://decrypt.co/54253/someone-moved- ... e=coinbase

Now imagine the cost of moving a billion dollars worth of gold and how long it would take... but yeah this stuff will all crash to zero

[Dukasaur]

Why banks are so excited about crypto, securely move massive amounts of money at virtually no cost an in under 1 min:

That's not a selling point, from my perspective. If it's good for the banks, it's usually bad for the working man.

Used to be that an intelligent man, working alone, could make money in the stock market. Now the major investment houses with their supercomputers react to every bit of news within milliseconds. They make the appropriate buys or sells and move to the new price in under half a second. By the time the independent even hears the news, he's too late to do anything about it.

Sounds like crypto will be like that, but in spades.

[mookiemcgee]

Why banks are so excited about crypto, securely move massive amounts of money at virtually no cost an in under 1 min:

That's not a selling point, from my perspective. If it's good for the banks, it's usually bad for the working man.

Used to be that an intelligent man, working alone, could make money in the stock market. Now the major investment houses with their supercomputers react to every bit of news within milliseconds. They make the appropriate buys or sells and move to the new price in under half a second. By the time the independent even hears the news, he's too late to do anything about it.

Sounds like crypto will be like that, but in spades.

IMO an intelligent manperson (had to fix that before PC police come after us), working alone, can make money in the stock market. There will always be people/computers/whatever that will make some ridiculous rate of return but I think suggesting that investing on your own means you can't make money is a red herring. The bigger issue for most reasonably intelligent people is actually putting away a small amount of money to actually begin investing. This seems like the much larger challenge.

I totally get the concern that 'something good for banks can't be good for me' but the excitement from banks is really about efficiency and that efficiency will benefit everyone. It's really less about the 'exchange rate' of currencies here, this about is about making it easier and cheaper to send money to people/institutions anywhere, instantly, safely and inexpensively.

[armati]

Ya its ruff Duk those algos are tuff to beat and those are not the only risks

But, with some reaserch, following just a few (not too many) going with the trend, not getting too greedy and a person can win.

Commodities should be on the rise, have been and are expected to continue due to the copious amount of printing.

Copperfox, a year ago was 5 cents, it got to 46 cents, took about 9-10 months. 5k paid over 40k, maybe not life changing but better than a bank savings account.
$500 paid 4k.

A good book is Nobody Knows Anything by Robert Moriarity<<<<< very many brains.
about $10 from amazon. acknowledged to be one of, if not the best book written, that and Extraordinary Popular Delusions and the Madness of Crowds
by Charles Mackay about $10 amazon.<<<<<<<<<<<how people think, it never changes. very boring but important to understand.

[mookiemcgee]

Bitcoin market cap went over 1 Trillion USD for the first time this week. Current coin price around $56,000 with no signs of slowing down. Looks like the top of this bubble could be over 100k.

If anyone cares that is a 1yr +480.78% ROI
1month +54.87%

Investing in things can make you money! You don't have to outsmart hedgies (Jim's buddies), just bet on the future (not the past).

[saxitoxin]

Bad news everyone ... Biden's Treasury hack Yellen says anyone who owns Bitcoin is a terrorist or money launderer and she wants to crack down on it. Anyone who buys crypto will lose their shirts when unannounced anti-terrorism regulations are suddenly imposed without warning. You'll also probably get erectile dysfunction which is a side-effect of personal financial insecurity.

Yellen told the Treasury's financial sector innovation policy roundtable "the misuse of cryptocurrencies and virtual assets is a growing problem."

Her words echoed comments she made in her hearing for the role of Treasury secretary in January, when she said: "I think we really need to examine ways in which we can curtail [cryptocurrencies'] use and make sure that money laundering doesn't occur through those channels."

https://markets.businessinsider.com/cur ... 1030071724

[mookiemcgee]

So just buy an ETF instead?

[saxitoxin]

So just buy an ETF instead?

Series EE Savings Bond

I've made dozens of dollars over the last few years off my Series EEs. Suck it, Biden!