BobbyCoins Posted May 24, 2021 Report Share Posted May 24, 2021 Welp... titanruss 1 Link to post Share on other sites More sharing options...
Supdawg Posted May 24, 2021 Report Share Posted May 24, 2021 The absolute most beautiful thing that I admire the most about Bitcoin is it is the definition of a true free market. The short term value of Bitcoin is set by the market, up or down. We still have a long ways to go to know if this was truly the bottom or are we going to go lower. Based on all of the metrics I look at, I still believe there is a decent chance this was just a healthily correction needed to flush the gamblers and weak hands out. Link to post Share on other sites More sharing options...
pat Posted May 24, 2021 Report Share Posted May 24, 2021 I could put more money into Bitcoin, or I could buy solar panels and a mining rig. The later would help heat my house too. Link to post Share on other sites More sharing options...
9 Nines Posted May 24, 2021 Report Share Posted May 24, 2021 2 hours ago, Supdawg said: Based on all of the metrics I look at, I still believe there is a decent chance this was just a healthily correction needed to flush the gamblers and weak hands out. Sometimes you have to know repair does not make sense and you need to buy a new car. Link to post Share on other sites More sharing options...
BobbyCoins Posted May 25, 2021 Report Share Posted May 25, 2021 3 hours ago, 9 Nines said: Sometimes you have to know repair does not make sense and you need to buy a new car. And sometimes the mechanic doesn't realize that the framus intersects with ramistan, approximately at the podernoster. Link to post Share on other sites More sharing options...
9 Nines Posted May 25, 2021 Report Share Posted May 25, 2021 Ill make a bet if any bitcoiners want to take. If bitcoin goes to $100K as you think, to celebrate being right you give me a bitcoin. If I am right and it goes below $1, I will give you a bitcoin. So put your money where you mouth is and take bet. OILERMAN 1 Link to post Share on other sites More sharing options...
Jamalisms Posted May 25, 2021 Report Share Posted May 25, 2021 Oh! Make that bet with me, too, bitcoiners! Link to post Share on other sites More sharing options...
BobbyCoins Posted May 25, 2021 Report Share Posted May 25, 2021 1 hour ago, 9 Nines said: Ill make a bet if any bitcoiners want to take. If bitcoin goes to $100K as you think, to celebrate being right you give me a bitcoin. If I am right and it goes below $1, I will give you a bitcoin. So put your money where you mouth is and take bet. I'd bet dollars to donuts it was your overloards on Melmac who caused the recent dip so they could have you buy in cheap. You ain't foolin any god damn body, E.T. Link to post Share on other sites More sharing options...
Titans_Win_Again Posted May 25, 2021 Report Share Posted May 25, 2021 On 5/21/2021 at 5:41 PM, OILERMAN said: Cryptocurrencies, as we know them today, have no future. Crypto advocates are just too stubborn or greedy to acknowledge their demise. Certainly, digital currencies have potential, but BitCoin and it's breathren are already on the way out. You sound like a Peter Schiff parody. Supdawg 1 Link to post Share on other sites More sharing options...
OILERMAN Posted May 25, 2021 Report Share Posted May 25, 2021 1 hour ago, Titans_Win_Again said: You sound like a Peter Schiff parody. It sounds like a lot of long term investing experts, in fact that quote was from one. Bitcoin is going to go up forever, it always finds a way! How's that sound? Link to post Share on other sites More sharing options...
Supdawg Posted May 25, 2021 Report Share Posted May 25, 2021 3 hours ago, OILERMAN said: It sounds like a lot of long term investing experts, in fact that quote was from one. Bitcoin is going to go up forever, it always finds a way! How's that sound? How does that sound??? It sounds like history repeating itself. Link to post Share on other sites More sharing options...
9 Nines Posted May 25, 2021 Report Share Posted May 25, 2021 (edited) 1 hour ago, Supdawg said: How does that sound??? It sounds like history repeating itself. This is the fundamental reason bitcoin will never make it. One, if it continue to go up "forever" people would not spend it - they would hoard it. So it would never be a currency or used much for transaction. Second, if somehow these people found a way to have their cake and eat it too - i.e. it continues to go up "forever" and people still transact in it, it would be the top 1%, as far as negatives for the rest of society on steroids. Basically Saylor et al think just because they have bitcoin, everyone should have to work and provides goods and services to them. Anyone with sense would know such a system would not be sustainable. Unless we are in some dystopian nightmare where Saylor et al engaged in successful brute force to control people on top of their entitled position for owning bitcoin, people are not going to work giving production to Saylor et al just because they have bitcoin - and this is what going up "forever" would mean. He even says not to spend it, but bitcoin ownership entitles one to borrow other currency freely to spend. In other words, he means what I just put fourth - he thinks he is entitled to your, my and everyone else's work. Edited May 25, 2021 by 9 Nines OILERMAN 1 Link to post Share on other sites More sharing options...
Supdawg Posted May 25, 2021 Report Share Posted May 25, 2021 It's VERY simple. There is infinite fiat to purchase finite Bitcoin.... Bitcoin doesn't literally have to accrue all value in the world, so I do think there is an upper limit to the total % of the worlds wealth it will hold, but as the amount of debt, fiat, assets in the world continues to rise, so will Bitcoin's value. I believe that both systems can exist with each other. Link to post Share on other sites More sharing options...
pat Posted May 25, 2021 Report Share Posted May 25, 2021 14 hours ago, 9 Nines said: Ill make a bet if any bitcoiners want to take. If bitcoin goes to $100K as you think, to celebrate being right you give me a bitcoin. If I am right and it goes below $1, I will give you a bitcoin. So put your money where you mouth is and take bet. Your bet implies you think Bitcoin is going up Link to post Share on other sites More sharing options...
Supdawg Posted May 25, 2021 Report Share Posted May 25, 2021 Very cool video released today Link to post Share on other sites More sharing options...
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