Bitcoin-Explain to me how to buy these things (3 Viewers)

[BigGDan]

How do we know this?

How does anyone know anything? Serious question.  Please don't take my word for it.  I encourage everyone to do their own studying.  No lie, I've easily put in 5,000 hours studying/understanding/interacting with bitcoin.  I've already stated this but consider that Bitcoin solves the byzantine generals problem which has been unsolved for centuries.  That's a pretty big deal, a new innovation that solves a centuries old thought experiment.  

A big challenge is that greedy people/corporations/entities have done an excellent job of blurring the lines between blockchain, crypto and bitcoin.  They've used the genius of bitcoin and preyed on the ignorant by creating chaos around this new technology.  There is only one bitcoin and all the other 'cryptos' are basically garbage.

 

[BigGDan]

Anyone who isn't buying bitcoin hurts their family? That's nonsense, and it's sure not changing minds. 

I'm ready to believe in a new currency, and ready to hear how blockchain can improve things, but what I hear is people getting scammed in a myriad of ways, guys buying silly cartoons, people laundering money, and mainly: people buying not because they think it's going to revolutionize anything, but because they expect the prices to skyrocket. 

I dip into the blockchain discussions, I don't read testimonials about making lives better, I read complainIng or celebrating about current prices. 

You're hurting yourself and your family in the sense that you have an opportunity to have generational wealth if you take the time to learn about BITCOIN (not crypto, just bitcoin) and it seems like you'd rather complain than learn. I don't care if I change your mind. I'm simply trying to help people understand why Bitcoin is special. Everything you stated above about scams etc... has nothing to do with bitcoin.  Silly cartoons, NFTs... that's not bitcoin, those are Ethereum derivatives.  Have you even read the previous half dozen posts I've made in this thread?  I think you need to learn how to differentiate between "CrYpTo" and Bitcoin.  One does not equal the other.  Get in the weeds, start learning so you can provide your family a financial freedom we've never had.  Or don't.  It won't affect me. I'm only trying to help 

 

[Jobber]

Beware those that push crypto like this. A high likelihood this dude took out a second mortgage and lost his shirt recently. He needs people to toss their money in so he can make some back.

 

[dickey moe]

You get priced out because if 1 bitcoin cost $1MM USD then whatever amount you have to invest buys you a lot less bitcoin when it's $1MM vs $30k.  Since there is a hard cap of 21MM bitcoin, accumulating bitcoin means that the percentage of the whole you own can will always INCREASE as you buy more.  With every other asset on the planet (other than land) you can accumulate more but that doesn't mean you own a bigger % of the pie. In fact, because companies do stock splits and fiat money gets fractionalized and printed, most people decrease their % of the pie even while accumulating more of said asset.

For instance, when bitcoin was $10k, $100 bought you 1 million Satoshis (Sats).  Today you need to spend $300 to buy the same 1MM Sats.  When 1 bitcoin eventually costs $1MM, you will need to spend $10k to buy those same 100 Sats.  Said another way, $10k today allows you to own 0.33 bitcoin.  $10k in the future (when 1 btc costs $1MM) will only buy you 0.01 bitcoin.  

Here's another interesting fact.  Today there are about 40 million millionaires (in USD terms) in the world.  With a hard cap of 21 million - and knowing that approximately 4 million bitcoin are already lost forever - there can never be more than 21 million people who own a full bitcoin.  Today, you can buy a full bitcoin for $30k.  So once you realize bitcoin isn't going away.  And once you realize bitcoin is the only deflationary asset on the planet.  And once you realize bitcoin is computer code protected by math and the network of computers (millions).  And once you realize bitcoin is the best monetary system ever invented.  And once you realize you can store your entire wealth in your brain and transport that wealth anywhere in the world within minutes for pennies..... Well, once you realize all of that and more, you will wish you transferred all of your crappy fiat money for bitcoin.  Every single cent.  Because fiat ALWAYS goes to zero and bitcoin is going the exact opposite direction.

Your hype is out of control.

 

[Capella]

Beware those that push crypto like this. A high likelihood this dude took out a second mortgage and lost his shirt recently. He needs people to toss their money in so he can make some back.

In January we refi’d to get a lower interest rate. The guy who came out to have us sign the documents said the last house he came from did a cash out refi where they took out 150k of their equity to buy crypto. I think about them a lot. 

 

[BigGDan]

Your hype is out of control.

Do you think bitcoin is going away?  If you think it's going away/going to zero, please explain why.  If you think it's here to stay, explain what you think happens.

 

[BigGDan]

In January we refi’d to get a lower interest rate. The guy who came out to have us sign the documents said the last house he came from did a cash out refi where they took out 150k of their equity to buy crypto. I think about them a lot. 

Borrowing inferior fiat money at extremely low interest rates to buy scarce digital property with a fixed supply which is still early in the adoption S curve and has a strong likelihood of multiplying two orders of magnitude over the next decade will probably set that family up for success for generations to come. Instead of worrying about them, you should be wondering why you didn't have the same knowledge and foresight to do something similar.  Fortune favors the bold.

 

[BigGDan]

Beware those that push crypto like this. A high likelihood this dude took out a second mortgage and lost his shirt recently. He needs people to toss their money in so he can make some back.

Right because me getting a few people on a message board to buy a few thousand worth of bitcoin is really gonna pump that price!!  Please more accurate with your words.  I'm not pushing "CrYpTO" I'm trying to educate y'all on bitcoin.  And I'm spreading knowledge and encouraging people to learn about this genius monetary invention.  Why?  I want humanity to thrive in the future and clean/honest/perfect money is the way to achieve that.  Bitcoin fixes a lot of things. It's very profound. I suggest you start learning about it ASAP.

 

[Capella]

Borrowing inferior fiat money at extremely low interest rates to buy scarce digital property with a fixed supply which is still early in the adoption S curve and has a strong likelihood of multiplying two orders of magnitude over the next decade will probably set that family up for success for generations to come. Instead of worrying about them, you should be wondering why you didn't have the same knowledge and foresight to do something similar.  Fortune favors the bold.

Ok, I will now refinance my house and use the proceeds to purchase crypto. Thank you, Matt Damon. 

 

[KGB]

Actually, no, there isn't.  Any change to the bitcoin chain now would cause a hard fork (like bitcoin cash is now) and be notbitcoin.  In this sense it is immutable.  

I think hes saying a better coin with better code

 

[BigGDan]

Ok, I will now refinance my house and use the proceeds to purchase crypto. Thank you, Matt Damon. 

I didn't suggest buying "crypto".  I've made it abundantly clear I'm only advocating for and talking positively about bitcoin.  It seems like you and others don't actually read my posts and just go straight towards arguing and provoking.  It's frustrating because I've probably pointed out that I'm advocating for bitcoin only about half a dozen times yet the generic term "crypto" keeps surfacing.  That said, right now IS a buyer's market for bitcoin.  Understand that $15k is within the realm of possibilities as bottom for this bear market still.  If you have equity in your home and you actually do use that to buy bitcoin, your future self and family will be eternally grateful.

Its easy to bag on bitcoin when its in the midst of a bear market.  People like you and others who poo poo it yet fail to understand it are the real losers in all of this.  Everyone buys bitcoin at the price they deserve.  You WILL OWN bitcoin eventually and your opportunity cost will be immense because you're either too arrogant, too scared or too close-minded to be an early adopter (yes its still early).  Like most folks, you probably find comfort in conformity and that's ok but it will set you back in the end.  If you truly understood what money is, the various forms & phases and how our fiat system works I guarantee you would be accumulating as much bitcoin as possible. 

I don't think people realize that the invention of bitcoin is only 13 years young and reached a market cap of over $1 TRILLION (at its high last November).  Bitcoin is not going away nor going to zero and since it is a deflationary asset it will continue to rise over the long term.  Eventually owning a full bitcoin will be a thing of the past and everyone will deal with Sats.  Gold's market cap is about $10 Trillion right now.  Bitcoin will surpass that within a decade easily.  Someday the market cap for bitcoin will be in the HUNDREDS of Trillions.  You can get a full bitcoin for $30k right now. Let's revisit this thread in five years and you will have wished you took this bitcoin thing more seriously.

Finally, does Matt Damon push bitcoin or any poop coins? I don't get that reference.

 

[Sand]

If you have equity in your home and you actually do use that to buy bitcoin, your future self and family will be eternally grateful.

Yeah, don't do this.  (File under "leverage is bad")

Finally, does Matt Damon push bitcoin or any poop coins? I don't get that reference.

He's getting a bad rap.  He's pushing an exchange.  That's a few steps above Gweneth's vagina scented candles, at least.

 

[[icon]]

I didn't suggest buying "crypto".  I've made it abundantly clear I'm only advocating for and talking positively about bitcoin.  It seems like you and others don't actually read my posts and just go straight towards arguing and provoking.  It's frustrating because I've probably pointed out that I'm advocating for bitcoin only about half a dozen times yet the generic term "crypto" keeps surfacing.  That said, right now IS a buyer's market for bitcoin.  Understand that $15k is within the realm of possibilities as bottom for this bear market still.  If you have equity in your home and you actually do use that to buy bitcoin, your future self and family will be eternally grateful.

Its easy to bag on bitcoin when its in the midst of a bear market.  People like you and others who poo poo it yet fail to understand it are the real losers in all of this.  Everyone buys bitcoin at the price they deserve.  You WILL OWN bitcoin eventually and your opportunity cost will be immense because you're either too arrogant, too scared or too close-minded to be an early adopter (yes its still early).  Like most folks, you probably find comfort in conformity and that's ok but it will set you back in the end.  If you truly understood what money is, the various forms & phases and how our fiat system works I guarantee you would be accumulating as much bitcoin as possible. 

I don't think people realize that the invention of bitcoin is only 13 years young and reached a market cap of over $1 TRILLION (at its high last November).  Bitcoin is not going away nor going to zero and since it is a deflationary asset it will continue to rise over the long term.  Eventually owning a full bitcoin will be a thing of the past and everyone will deal with Sats.  Gold's market cap is about $10 Trillion right now.  Bitcoin will surpass that within a decade easily.  Someday the market cap for bitcoin will be in the HUNDREDS of Trillions.  You can get a full bitcoin for $30k right now. Let's revisit this thread in five years and you will have wished you took this bitcoin thing more seriously.

Finally, does Matt Damon push bitcoin or any poop coins? I don't get that reference.

 
Would you mind sharing 5 TECHNICAL advantages that BTC has over ETH? 

Not "it's the most valuable" or "it was first" or "it's perfect"... but actual tangible advantages. 

Also, please list 2 technical/tangible ways you'd improve BTC if you could. 

Thanks

 

[ren hoek]

No, my point is there is zero chance any other form of digital currency (not just BTC) could prove superior to BTC? BTC is perfect? 
 

I don't subscribe to that theory. Therefore I reject the premise that BTC is infallible due to being the most perfect financial vehicle ever created. 

I tend to agree here.  First mover advantage is no guarantee that it will continue its market dominance in the future.  Blockbuster Video used to look invincible in the film rental industry too.  

Bitcoin really sucks ### as a digital currency.  You know at one point Vitalik Buterin wanted to build ethereum on top of Bitcoin.  Just imagine its value if that had happened.  But sure enough some braingeniuses in the bitcoin dev team wanted to stick with the tiny blocksize, I guess so grandmothers in nicaragua could keep sending bitcoin on their raspberry Pi's.  

Sooner or later people will figure out there are much more functional coins with much more reasonable tx fees and astronomically more compelling use cases.  I'd feel much more comfortable holding ethereum long term than bitcoin. 

 

[ren hoek]

Reading whispers about Tether's sketchy handling of its deposit attestations and seen an article about how they had to "re-capitalize" in May 2022. 

https://www.kalzumeus.com/2022/05/20/tether-required-recapitalization/

I've been waiting for this thing to collapse for a long time.  Tether needs to be burned to the ground, the market cleansed in its ashes.  

 

[KGB]

bought some at $.0002 something   

flyer to see

LUNA  

$0.000212

54.42%

about even ish 

 

[KGB]

as far as the "shill guy"  didnt he say things are going down?

I wouldnt be surprised if BTC hits 15K,  its already close.

im not re reading everything, but good luck to all

 

[BigGDan]

 
Would you mind sharing 5 TECHNICAL advantages that BTC has over ETH? 

Not "it's the most valuable" or "it was first" or "it's perfect"... but actual tangible advantages. 

Also, please list 2 technical/tangible ways you'd improve BTC if you could. 

Thanks

BTC and ETH are different animals.  Bitcoin is digital property, a monetary network.  ETH is a digital platform that aims to solve a lot of challenges (more than just sound money) and integrate other applications to be added on top.  BTC is much simpler because it only serves one function. Therefore Bitcoin is complete and it has operated for 13 years without being hacked or altered in any way.  So asking for the technical advantages of one over the other doesn't make sense because they are different things with different use cases.  I could list the advantages of a spaceship compared to a horse but what is the point?  One is used for intergalactic travel and the other was used for plowing crops and land transportation before cars.

With all of that said, these are the advantages Bitcoin has over Ethereum:

1. Bitcoin uses proof-of-work (PoW) while ETH uses proof-of-stake (PoS).  PoW uses a lot more energy which is what makes bitcoin much more secure.  The energy consumption is a feature, not a bug. Under PoW there is no way to cheat because you have to burn the electricity to prove that you've done the work.  Proof-of-stake is easier to manipulate and cheat and it's less secure.  Here's an analogy.  The security of PoW is like storing your gold at Fort Knox.  The security of PoS is like storing your gold under your mattress, it uses much less energy but is also much less secure.  PoS also leads to more CENTRALIZATION.  Bitcoin PoW mining incentivizes innovation while ETH's PoS does not.

2. Bitcoin is 100% DECENTRALIZED while ETH is CENTRALIZED.  No single person, entity or group of people can manipulate, change, alter or disrupt the Bitcoin network.  The Bitcoin protocol is the same today as it was when it was created in 2009. It's consistent and performs as expected every single day.  ETH's protocols and policies change every few months and can change at the whims of one person (Vitalik) or a committee of insiders.  One person can change the entire road map of ETH.  They can increase the supply (inflation) at any time.  Also, 70% of the outstanding ETH was pre-mined by Vitalik and all his cohorts BEFORE opening up to the public for mining.  

3. Bitcoin is equality for all.  Anyone can mine bitcoin.  To mine ETH under the new PoS system, a person must own 32 ETH tokens which is about $64k right now.  Because there were insiders who benefited from the ETH pre-mine there is a huge incentive to move to PoS because anyone holding 32 ETH can now become a validator and earn free ETH.  ETH is very insider heavy just like the legacy financial system.

4. Technical Risk - let's say the internet goes down for some amount of time which causes the global internet to become partitioned.  In this scenario, there would be two blockchains for each crypto currency. You'd have the EU BTC blockchain and the North American BTC blockchain and same with Ethereum, an EU ETH blockchain and a North American ETH blockchain.  Once the internet is reconnected how will you know which blockchain is the 'correct' one?  Under the PoW consensus its always the longest blockchain that is correct.  Because you have to expend actual electricity to add to the blockchain, you have to do the work because there are no shortcuts or cheating.  Under PoS there is no real way to determine which block is the correct one which means Vitalik or some committee will make the guess.

I think its really important to understand all the positive attributes of bitcoin (Decentralized, issuance is predictable and stable, hard supply cap of 21MM and it's very difficult to create/mine) but even more important is that these components CANNOT BE CHANGED.  So when trying to find the soundest money, you have to consider that no government, corporation, entity or person can manipulate or change the bitcoin protocol and that consistency and reliability makes Bitcoin the soundest monetary network ever created.

 

[KGB]

$2K to 1MM update....

Purchase HEX a couple of years ago (documented in this thread)

High was about $750K (about 50 cents)

Currently have 1.4MM shares @ .083 = about $115K

sold like $60 or $80K or so, not included.

staked and holding.  not that there is a choice lol

 

[KGB]

So there's NO room for someone to come in and improve upon Bitcoin with an improved form of digital currency? 

I replied to this the other night but I think I misunderstood you.  surprise surprise

You are saying someone WILL improve upon it.  I agree 

 

[KGB]

bought some at $.0002 something   

flyer to see

LUNA

$.000179   still alive.  surprised

 

[KGB]

LUNA

$.000179   still alive.  surprised

sold 25% .00014

edit.  sold the rest for hex at $.04 something

 

[KGB]

added to hex at $.051

 

[GoBirds]

So Vanguard won’t let holders buy any more Grayscale Bitcoin fund only sell what you have….that can’t be good for Bitcoin.

 

[Desert_Power]

Man, a lot of these smaller coins are just continuing to get pummeled.

 

[KGB]

Man, a lot of these smaller coins are just continuing to get pummeled.

Nice day today.

 

[BigGDan]

My best guess is that June will be a relief rally month that will see bitcoin hit that $38-$40k range sometime within the month.  I'm still calling for sub $20k bitcoin in the coming months.  I've got my buy orders between $14k-$19k.  Stack Sats and don't look back.

 

[KGB]

added to hex at $.051

SOLD at $.08

$4K to 100K journey

purchased HEX @ .04 and .05 and sold at .08.  

$4320 > $6400

 

[KGB]

SOLD at $.08

$4K to 100K journey

purchased HEX @ .04 and .05 and sold at .08.  

$4320 > $6400

$4K to 100K journey

purchased HEX @ .04 and .05 and sold at .08.  

$4320 > $6400

__________

Purchased about $3300 HDRN @ .0000006 something

$3000 USDC

 

[KGB]

just hanging....

lets see what dips

 

[KGB]

$2K to 1MM update....

Purchase HEX a couple of years ago (documented in this thread)

High was about $750K (about 50 cents)

Currently have 1.4MM shares @ .083 = about $115K

sold like $60 or $80K or so, not included.

staked and holding.  not that there is a choice lol

$2K to 1MM update....

Down to $93K

 

[KGB]

$4K to 100K journey

purchased HEX @ .04 and .05 and sold at .08.  

$4320 > $6400

__________

Purchased about $3300 HDRN @ .0000006 something

$3000 USDC

$4K to 100K journey

11116619232 HDRN

$6,186.21 USD

Hedron (HDRN)

HDRN Price

$0.0000005663

 

[BassNBrew]

With every other asset on the planet (other than land) you can accumulate more but that doesn't mean you own a bigger % of the pie. In fact, because companies do stock splits and fiat money gets fractionalized and printed, most people decrease their % of the pie even while accumulating more of said asset.

I'm trying to give your posts a chance but this statement makes me wonder about your understanding of the market.  Issuing new shares and diluting would be an example that you could use but it's not common with established companies.  There's one Amazon.  Doesn't matter if I own 1 of 100 shares or it splits and I own 10 of 1000, my stake is the same.  

Not I own some bit coin and it's basically followed the path of tech stocks.  Inflation seems to hurt it's value.  I also think you are downplaying the risks.  It's useless as a currency if I can't go buy a cup of coffee with it.  As long as the gov't could potentially make it difficult or even illegal to buy a cup of coffer with it, it carries risk.

 

[brun]

I'm trying to give your posts a chance but this statement makes me wonder about your understanding of the market.  Issuing new shares and diluting would be an example that you could use but it's not common with established companies.  There's one Amazon.  Doesn't matter if I own 1 of 100 shares or it splits and I own 10 of 1000, my stake is the same.  

Not I own some bit coin and it's basically followed the path of tech stocks.  Inflation seems to hurt it's value.  I also think you are downplaying the risks.  It's useless as a currency if I can't go buy a cup of coffee with it.  As long as the gov't could potentially make it difficult or even illegal to buy a cup of coffer with it, it carries risk.

So you're saying that, if I ask the pizza shop to cut the pizza into 4 slices instead of 8 because I'm not that hungry, it won't matter?

 

[BassNBrew]

So you're saying that, if I ask the pizza shop to cut the pizza into 4 slices instead of 8 because I'm not that hungry, it won't matter?

I think that would make your pizza deflationary, but I would defer all pizza slice questions to @Ministry of Pain

 

[stbugs]

So you're saying that, if I ask the pizza shop to cut the pizza into 4 slices instead of 8 because I'm not that hungry, it won't matter?

The rest of your party may be annoyed that your not hungry ### took one bite and took out 25% of the pie. Next time do 8 slices party pooper.

 

[brun]

The rest of your party may be annoyed that your not hungry ### took one bite and took out 25% of the pie. Next time do 8 slices party pooper.

As if I was sharing my pizza with anyone. If thye want some they better get their own.

 

[KGB]

$2K to 1MM update....

Down to $93K

$2K to 1MM update....

Down to $93K 

Down to 70K

 

[KGB]

$4K to 100K journey

11116619232 HDRN

$6,186.21 USD

Hedron (HDRN)

HDRN Price

$0.0000005663

plsd $3.6065

HEX $0.050585

debating what to move into

 

[KGB]

plsd $3.6065

HEX $0.050585

debating what to move into

$4K to 100K journey

decided PLSD @ $2.8976

2471.56751PLSD = $7,196.30 USD

 

[jm192]

You get priced out because if 1 bitcoin cost $1MM USD then whatever amount you have to invest buys you a lot less bitcoin when it's $1MM vs $30k.  Since there is a hard cap of 21MM bitcoin, accumulating bitcoin means that the percentage of the whole you own can will always INCREASE as you buy more.  With every other asset on the planet (other than land) you can accumulate more but that doesn't mean you own a bigger % of the pie. In fact, because companies do stock splits and fiat money gets fractionalized and printed, most people decrease their % of the pie even while accumulating more of said asset.

For instance, when bitcoin was $10k, $100 bought you 1 million Satoshis (Sats).  Today you need to spend $300 to buy the same 1MM Sats.  When 1 bitcoin eventually costs $1MM, you will need to spend $10k to buy those same 100 Sats.  Said another way, $10k today allows you to own 0.33 bitcoin.  $10k in the future (when 1 btc costs $1MM) will only buy you 0.01 bitcoin.  

Here's another interesting fact.  Today there are about 40 million millionaires (in USD terms) in the world.  With a hard cap of 21 million - and knowing that approximately 4 million bitcoin are already lost forever - there can never be more than 21 million people who own a full bitcoin.  Today, you can buy a full bitcoin for $30k.  So once you realize bitcoin isn't going away.  And once you realize bitcoin is the only deflationary asset on the planet.  And once you realize bitcoin is computer code protected by math and the network of computers (millions).  And once you realize bitcoin is the best monetary system ever invented.  And once you realize you can store your entire wealth in your brain and transport that wealth anywhere in the world within minutes for pennies..... Well, once you realize all of that and more, you will wish you transferred all of your crappy fiat money for bitcoin.  Every single cent.  Because fiat ALWAYS goes to zero and bitcoin is going the exact opposite direction.

You speak in all of these certainties as if Bitcoin HAS to hit 1MM.  But, at the end of the day, Bitcoin is worth what people agree it's worth.  

You say that Bitcoin is going the opposite direction of zero--but it's gone from 60K to 30K in the last, what, year?  Two years?  

Even if you stored all of your wealth in Bitcoin--you'd still have to transfer it back into fiat to purchase things.  

 

[jm192]

The more I read these threads, the more I'm OUT on Bitcoin and crypto in general.  

It's a ton of "Well if you just understood it..."  I'm a smart guy.  If it's this hard to "get it" I'm ok missing the boat.  I understand Amazon and VTSAX.  

There's this false argument that bitcoin has to have immense value because of what it is, how it works, etc.  But, that's simply not the case.  Bitcoin is worth what someone else is willing to buy it at.  Bitcoin can wind up completely worthless.  

It's all fun to go on and on about the problems with Fiat.  But the presence of problems within Fiat does not automatically mean Bitcoin "goes to the moon."

 

[KGB]

The more I read these threads, the more I'm OUT on Bitcoin and crypto in general.  

It's a ton of "Well if you just understood it..."  I'm a smart guy.  If it's this hard to "get it" I'm ok missing the boat.  I understand Amazon and VTSAX.  

There's this false argument that bitcoin has to have immense value because of what it is, how it works, etc.  But, that's simply not the case.  Bitcoin is worth what someone else is willing to buy it at.  Bitcoin can wind up completely worthless.  

It's all fun to go on and on about the problems with Fiat.  But the presence of problems within Fiat does not automatically mean Bitcoin "goes to the moon."

agree.  and I think stocks too.  how many times XXXX crushes earnings and goes down big time.

 

[stbugs]

agree.  and I think stocks too.  how many times XXXX crushes earnings and goes down big time.

There’s a big difference. Market sentiment can drive stock prices down and up and some stocks will fail, but companies that crush earnings have an intrinsic value, they have assets that you could sell and cash flow you could put in your pocket. Bitcoin and other coins are worth what other people are willing to pay but there’s no value as a floor, so to speak. Maybe there are games/cash flow in some cases, but most alt coins have no assets/cash flow to have an actual worth.

 

[FreeBaGeL]

There’s a big difference. Market sentiment can drive stock prices down and up and some stocks will fail, but companies that crush earnings have an intrinsic value, they have assets that you could sell and cash flow you could put in your pocket. Bitcoin and other coins are worth what other people are willing to pay but there’s no value as a floor, so to speak. Maybe there are games/cash flow in some cases, but most alt coins have no assets/cash flow to have an actual worth.

How much is that floor actually worth in practice, though?  How much money did JC Penny shareholders get back for all that leftover inventory when they died out?

 

[stbugs]

How much is that floor actually worth in practice, though?  How much money did JC Penny shareholders get back for all that leftover inventory when they died out?

Of course there are companies that go under, hence my comment “some stocks will fail”, but I was replying to a post that acted like stocks getting hammered was the same thing as Hex, Hedron, Doge, Shiba, etc. just going away someday. When Luna got in trouble was it because inflation jumped and the market tanked or just the realization that there was no real value? Again, not the same thing. JC Penney went out of business because they were beat by other companies.

 

[KGB]

There’s a big difference. Market sentiment can drive stock prices down and up and some stocks will fail, but companies that crush earnings have an intrinsic value, they have assets that you could sell and cash flow you could put in your pocket. Bitcoin and other coins are worth what other people are willing to pay but there’s no value as a floor, so to speak. Maybe there are games/cash flow in some cases, but most alt coins have no assets/cash flow to have an actual worth.

I think a fair comparison is closer to a SPAC

I hear ya.  I still have  like 90% simple hold stocks.

for me this thread is for looking for 100X.  jmo

 

[stbugs]

I think a fair comparison is closer to a SPAC

I hear ya.  I still have  like 90% simple hold stocks.

for me this thread is for looking for 100X.  jmo

Oh yeah, you are a gambling man. SPACs are a better comparison because so many of those were ideas not fully formed companies hence the SPAC where you don’t go through the same audit/review process as an IPO. Trump’s SPAC is the perfect example. There wasn’t even a product at the start. No different than a metaverse/gaming alt coin hoping for success. The alt coins that don’t even have something tangible are even more questionable.

 

[beef]

Crypto community with 80% historical accuracy sets Bitcoin price for June 30, 2022

CoinMarketCap crypto community considers that Bitcoin will soar 30.06% from the current price to trade at $41,175 on June 30, 2022, with the target being based on the average of votes by 34,436 members.

 

[Jobber]

Crypto community with 80% historical accuracy sets Bitcoin price for June 30, 2022

CoinMarketCap crypto community considers that Bitcoin will soar 30.06% from the current price to trade at $41,175 on June 30, 2022, with the target being based on the average of votes by 34,436 members.

Not happening. So many of the marks have left crypto to the point it won’t recover to previous levels.