yak651 1,038 Posted November 17, 2020 Share Posted November 17, 2020 4 hours ago, Rhythmdoctor said: I have numerous posts on the previous page (Page 34 of this thread) that explain why I'm bullish on Bitcoin. Also, this post of mine is worth a read and the article I linked within it should be read by anyone interested in Bitcoin. In short, Bitcoin is a hedge against fiat currency, Central Banks constant money printing and the impending global financial collapse/reset. Unlike fiat which has no cap (can be printed endlessly), Bitcoin has a hard cap that is included in the code that only allows a total of 21 million Bitcoin. So in a way, Bitcoin is a deflationary asset which only gains value over time whereas your fiat is inflationary and only loses value over time. Prices of goods go up over time not because they cost more to make and manufacture but because your dollar today is worth LESS than last month/year/decade. I see a future world where Bitcoin and NOT the USD is the global reserve currency. With only 21 million available and a global population of over 7 billion, you can see why there is currently a mad rush to obtain Bitcoin. The whole world is starting to see the advantage of holding some. Here's an interesting statistic, there are approximately 46 millionaires in the world. If each millionaire wanted to obtain 1 full bitcoin, they cannot. It is mathematically impossible. Thanks for the info - I find it hard to believe Bitcoin would replace USD but I guess people probably thought precious metal coins would never be replaced. I'm assuming you meant billionaires instead of millionaires? Quote Link to post Share on other sites
JerseyToughGuys 3,149 Posted November 18, 2020 Share Posted November 18, 2020 2 hours ago, yak651 said: Thanks for the info - I find it hard to believe Bitcoin would replace USD but I guess people probably thought precious metal coins would never be replaced. I'm assuming you meant billionaires instead of millionaires? 46 million millionaires 1 Quote Link to post Share on other sites
Rhythmdoctor 1,463 Posted November 18, 2020 Share Posted November 18, 2020 42 minutes ago, JerseyToughGuys said: 46 million millionaires This. 1 Quote Link to post Share on other sites
Rhythmdoctor 1,463 Posted November 18, 2020 Share Posted November 18, 2020 (edited) 3 hours ago, yak651 said: Thanks for the info - I find it hard to believe Bitcoin would replace USD but I guess people probably thought precious metal coins would never be replaced. I'm assuming you meant billionaires instead of millionaires? I fixed my post. As JerseyToughGuys said, I meant 46 million, millionaires in the world. Only 21 million Bitcoin. Not even half of them could own a full one. Edited November 18, 2020 by Rhythmdoctor Quote Link to post Share on other sites
dipandglide 372 Posted November 19, 2020 Share Posted November 19, 2020 On 11/17/2020 at 2:23 PM, yak651 said: Thanks for the info - I find it hard to believe Bitcoin would replace USD but I guess people probably thought precious metal coins would never be replaced. I'm assuming you meant billionaires instead of millionaires? Every single fiat currency has gone to 0 since the beginning of time. The reality is inflation is coming and people are searching for assets that aren’t inflated. BTC market cap is 2% of golds. There is a lot of sky above as BTC continues to grow trust as a store of value. Quote Link to post Share on other sites
culdeus 7,218 Posted November 19, 2020 Share Posted November 19, 2020 On 11/16/2020 at 8:17 PM, Rhythmdoctor said: It's crazy how bitcoin is slowly and steadily approaching its All Time High (ATH) of ~ $20k yet there is no euphoria yet. I mean NOBODY is hyping bitcoin in this thread other than me and like 2 other dudes. I think Bitcoin still has some room to run before a healthy and needed pullback. I'm expecting this current move to climax REALLY soon, however,(within the next 1-2 weeks) with a blowoff top to the $20k price area (previous ATH). Then I'd expect a drop of anywhere between 25%-45%. If this is truly a new bull market for Bitcoin (which I firmly believe it is), the drop should hold support on the 20 week moving average which at this moment is around $11,900. I'm not giving investment advice but if any of you have been waiting for a good buying opportunity for bitcoin, waiting for a pullback to the 20 week moving average is a good time to add some bitcoin to your portfolio!! Here is a basic chart I setup for you to view. The top horizontal green line is the previous ATH. The green curve is the 20 week moving average. Each candlestick is 1 week of price action. I gotta admit I'm blown away with the moves up. This on the surface makes no sense, crypto has completely fallen off the radar of the average bro, has long worn out it's use case as a currency, so what the hell is moving this? Quote Link to post Share on other sites
JerseyToughGuys 3,149 Posted November 19, 2020 Share Posted November 19, 2020 (edited) 6 hours ago, culdeus said: I gotta admit I'm blown away with the moves up. This on the surface makes no sense, crypto has completely fallen off the radar of the average bro, has long worn out it's use case as a currency, so what the hell is moving this? Quiet groundswell and a confluence of issues. Supply dropped (halving), demand is rising. You have "institutions" like Grayscale Trust, Square, and Microstrategies buying a billion+ of dollars of BTC. You have guys like Paul Tudor Jones and Stan Druckenmiller saying they are now allocating to BTC, even if it's just 1%, analysts at Citibank throwing out 300,000 price targets. Mania won't hit for awhile. Edited November 19, 2020 by JerseyToughGuys 2 Quote Link to post Share on other sites
jb1020 1,504 Posted November 19, 2020 Share Posted November 19, 2020 So even at these prices you guys buying into BTC? Quote Link to post Share on other sites
psychobillies 1,509 Posted November 19, 2020 Share Posted November 19, 2020 50 minutes ago, jb1020 said: So even at these prices you guys buying into BTC? Link 1 1 Quote Link to post Share on other sites
JerseyToughGuys 3,149 Posted November 19, 2020 Share Posted November 19, 2020 1 hour ago, jb1020 said: So even at these prices you guys buying into BTC the Nasdaq 100? Good question. Seems crazy, right? 2 1 Quote Link to post Share on other sites
JerseyToughGuys 3,149 Posted November 19, 2020 Share Posted November 19, 2020 I get a kick out of this Twitter follow: https://twitter.com/MStratBTCValue/status/1329481979658645504?s=20 Quote MicroStrategy's $425,000,000 (38,250BTC) #Bitcoin fund is now worth $687,008,250 +61.65% | Current BTC price: $17,961 Share price was $118.22, now $215.33 which is +82.14% since Bitcoin capital allocation strategy announcement on 08-Jul-20 dats a spicy meatballa! Quote Link to post Share on other sites
JerseyToughGuys 3,149 Posted November 19, 2020 Share Posted November 19, 2020 On 8/11/2020 at 5:05 PM, stbugs said: Lol. Do you know anything about Microstrategy? I had a buddy who worked there before they started the dot com bubble pop. They ran up a ton and then reported some accounting irregularities and pop. Stock was worth 10x what it is now 20 years ago. Not on the level of Enron and Worldcom but one of the first signals that a lot of inflated accounting. Pretty sure it’s still the same CEO. They have real products but nothing special. Buying bitcoin for them is most likely an attempt to jump start the stock price which is down about 30% over the last 5 years. By the way, this has nothing to do with my opinion on Bitcoin, more an opinion on Microstrategy’s attempt at making news. Seems to have worked. Quote Link to post Share on other sites
stbugs 2,955 Posted November 19, 2020 Share Posted November 19, 2020 1 hour ago, JerseyToughGuys said: Seems to have worked. It did, but my point was still about Microstrategy the company. If you want to buy Bitcoin and you are buying Microstrategy you are doing it wrong. Also, there were a lot of companies calling themselves blockchain companies and their shares got bid up in the mania. Where are they now? Microstrategy bought Bitcoin at the right time but that doesn’t make them a good stock to buy. 1 Quote Link to post Share on other sites
JerseyToughGuys 3,149 Posted November 19, 2020 Share Posted November 19, 2020 5 minutes ago, stbugs said: It did, but my point was still about Microstrategy the company. If you want to buy Bitcoin and you are buying Microstrategy you are doing it wrong. Also, there were a lot of companies calling themselves blockchain companies and their shares got bid up in the mania. Where are they now? Microstrategy bought Bitcoin at the right time but that doesn’t make them a good stock to buy. No argument there. Quote Link to post Share on other sites
Rhythmdoctor 1,463 Posted November 19, 2020 Share Posted November 19, 2020 5 hours ago, jb1020 said: So even at these prices you guys buying into BTC? Yes. I’ve been buying every week for 4 years. Ultimate DCA 2 Quote Link to post Share on other sites
Rhythmdoctor 1,463 Posted November 19, 2020 Share Posted November 19, 2020 3 hours ago, JerseyToughGuys said: I get a kick out of this Twitter follow: https://twitter.com/MStratBTCValue/status/1329481979658645504?s=20 dats a spicy meatballa! I like this Twitter account too. Calculates the stimulus check value in BITCOIN. Basically the premise is a bunch of folks used their stimulus checks to but bitcoin (me!!). https://twitter.com/bitcoinstimulus/status/1328710848290951174?s=21 1 Quote Link to post Share on other sites
Rhythmdoctor 1,463 Posted November 19, 2020 Share Posted November 19, 2020 2 hours ago, stbugs said: It did, but my point was still about Microstrategy the company. If you want to buy Bitcoin and you are buying Microstrategy you are doing it wrong. Also, there were a lot of companies calling themselves blockchain companies and their shares got bid up in the mania. Where are they now? Microstrategy bought Bitcoin at the right time but that doesn’t make them a good stock to buy. Agreed. You want bitcoin exposure? Buy actual bitcoin not a stock that bought btc!! Quote Link to post Share on other sites
JerseyToughGuys 3,149 Posted November 20, 2020 Share Posted November 20, 2020 3 hours ago, Rhythmdoctor said: Yes. I’ve been buying every week for 4 years. Ultimate DCA Daily for the win 1 Quote Link to post Share on other sites
Rhythmdoctor 1,463 Posted November 20, 2020 Share Posted November 20, 2020 SO.... Is Bitcoin going to tap $20k this weekend or before Thanksgiving? We shall see. Exciting times!! If not, I'm prepared to purchase a big chunk when it drops to $13k. Hopefully it goes that low. We may never see $12k Bitcoin again and I'm pretty darn confident we'll never see $10k Bitcoin again. That train has SAILED, imo. In summation, a drop to $12k would be a GIFT. A drop to $13k is what I'm expecting and won't get greedy waiting for anything lower than $13k. Quote Link to post Share on other sites
JerseyToughGuys 3,149 Posted November 20, 2020 Share Posted November 20, 2020 23 minutes ago, Rhythmdoctor said: SO.... Is Bitcoin going to tap $20k this weekend or before Thanksgiving? We shall see. Exciting times!! If not, I'm prepared to purchase a big chunk when it drops to $13k. Hopefully it goes that low. We may never see $12k Bitcoin again and I'm pretty darn confident we'll never see $10k Bitcoin again. That train has SAILED, imo. In summation, a drop to $12k would be a GIFT. A drop to $13k is what I'm expecting and won't get greedy waiting for anything lower than $13k. I think you are right about that drop, if history echoes. But I think it may come from a higher point and result in a higher low. In other words, 24 to 18. Something like that. I say this, because we've had, what, one day where it ripped 1K? The rest has been slow and steady. I am betting on a few face melting up days before that eventual back fill. 1 Quote Link to post Share on other sites
JerseyToughGuys 3,149 Posted November 20, 2020 Share Posted November 20, 2020 (edited) in any event, two big things for the inevitable new comers: 1. You don't have to buy a whole BTC. You can buy 10 bucks worth if you are so inclined. You can also dollar cost average very easily these days. 2. Even though BTC has been kicking around for 10+ years now, many many people believe we are still "early." It's quantifiably early in the next 4 year cycle. Edited November 20, 2020 by JerseyToughGuys 2 Quote Link to post Share on other sites
Rhythmdoctor 1,463 Posted November 20, 2020 Share Posted November 20, 2020 51 minutes ago, JerseyToughGuys said: I think you are right about that drop, if history echoes. But I think it may come from a higher point and result in a higher low. In other words, 24 to 18. Something like that. I say this, because we've had, what, one day where it ripped 1K? The rest has been slow and steady. I am betting on a few face melting up days before that eventual back fill. Did I really say “that TRAIN has sailed”? 🤦♂️ 1 Quote Link to post Share on other sites
Angry Beavers 1,916 Posted November 20, 2020 Share Posted November 20, 2020 Wish i bought more than what I did at 10K ish if it gets anywhere near 13k I'll have to buy more................ Anyone buy Bitcoin inside a self directed IRA? - just curious before I go to research this for myself. 1 Quote Link to post Share on other sites
Rhythmdoctor 1,463 Posted November 23, 2020 Share Posted November 23, 2020 Still can't believe how quiet this thread is. My prediction - a year from now, this will be the most active thread in the FFA. In the meantime, I'll just continue stacking SATs. 1 Quote Link to post Share on other sites
The Ref 4,308 Posted November 23, 2020 Share Posted November 23, 2020 On 10/25/2016 at 5:15 PM, Aaron Rudnicki said: really? https://www.coinbase.com/charts 1BTC = $654 (+$362 since last year) I'm no mathematician, but +124% in a year seems a lot better than -5%. EDIT: appears I misread your point here. my bad. 1 Quote Link to post Share on other sites
JerseyToughGuys 3,149 Posted November 23, 2020 Share Posted November 23, 2020 someone recently asked "why is it going up now"? This is part of the answer: https://twitter.com/dan_pantera/status/1323345484833050635 Others buying up supply: Grayscale Bitcoin Trust and, you would assume, Paypal (since it's going to have to buy up a treasury to roll out its BTC plan). 1 Quote Link to post Share on other sites
Rhythmdoctor 1,463 Posted November 23, 2020 Share Posted November 23, 2020 20 minutes ago, JerseyToughGuys said: someone recently asked "why is it going up now"? This is part of the answer: https://twitter.com/dan_pantera/status/1323345484833050635 Others buying up supply: Grayscale Bitcoin Trust and, you would assume, Paypal (since it's going to have to buy up a treasury to roll out its BTC plan). Grayscale alone is buying 10x the amount that is being mined per day. Just wait until there are 10 companies like Grayscale. I wonder if @Capella will ever apologize for all his ridicule and shaming once Bitcoin is trading definitively over $20k? Because when I look back at all his posts, it's nothing but laugh emojis, ridicule and acting like a know-it-all about Bitcoin being a garbage investment yet his view on Bitcoin is proving to be wrong. Why can't we all be happy for each other instead of hoping for failure? Be excellent. Quote Link to post Share on other sites
JerseyToughGuys 3,149 Posted November 23, 2020 Share Posted November 23, 2020 11 minutes ago, Rhythmdoctor said: Grayscale alone is buying 10x the amount that is being mined per day. Just wait until there are 10 companies like Grayscale. I wonder if @Capella will ever apologize for all his ridicule and shaming once Bitcoin is trading definitively over $20k? Because when I look back at all his posts, it's nothing but laugh emojis, ridicule and acting like a know-it-all about Bitcoin being a garbage investment yet his view on Bitcoin is proving to be wrong. Why can't we all be happy for each other instead of hoping for failure? Be excellent. Let go of the past imo. Plenty of people did this. A few will continue to do so. Such is life. The world needs Peter Schiffs too. 2 Quote Link to post Share on other sites
Capella 29,441 Posted November 23, 2020 Share Posted November 23, 2020 (edited) 17 minutes ago, Rhythmdoctor said: Grayscale alone is buying 10x the amount that is being mined per day. Just wait until there are 10 companies like Grayscale. I wonder if @Capella will ever apologize for all his ridicule and shaming once Bitcoin is trading definitively over $20k? Because when I look back at all his posts, it's nothing but laugh emojis, ridicule and acting like a know-it-all about Bitcoin being a garbage investment yet his view on Bitcoin is proving to be wrong. Why can't we all be happy for each other instead of hoping for failure? Be excellent. Apologize? Lol no bro I don’t owe anybody an apology for my opinion. I hope it makes money for you long-term, and yes, I still extremely doubt it’s worth. Also, you pumped it for years with no success. Don’t take a victory lap for something that happened literally years after you said it would. That’s not how it works. Edited November 23, 2020 by Capella 1 1 Quote Link to post Share on other sites
Peyton Marino 4,778 Posted November 24, 2020 Share Posted November 24, 2020 (baba booey voice) hello hello 2 1 Quote Link to post Share on other sites
Dan Lambskin 13,612 Posted November 24, 2020 Share Posted November 24, 2020 21 minutes ago, Peyton Marino said: (baba booey voice) hello hello THERE HE IS! Quote Link to post Share on other sites
Rhythmdoctor 1,463 Posted November 24, 2020 Share Posted November 24, 2020 And Bitcoin over $19k. 2021 is gonna be a hell of a year for Bitcoin holders. Quote Link to post Share on other sites
Brunell4MVP 835 Posted November 25, 2020 Share Posted November 25, 2020 (edited) On 11/23/2020 at 2:52 PM, Capella said: Also, you pumped it for years with no success. Don’t take a victory lap for something that happened literally years after you said it would. That’s not how it works. This. Look I own little BTC and quite a bit of ETH. But the backers of crypto say 'it's gonna go up' and it sits flat, then almost by default it goes up over time. Suddenly they claim they were right. Um no, like anything if you hold it long enough it's likely to go up. Hey, BTC is gonna be worth $50k. Well yes, that very likely unless it implodes. I'm still not sold on the usefullness of crypto as anything but an inflation hedge. At some point is needs to become usable. But less (not more) companies are willing to accept BTC as a payment method a year later. BTC can process almost no transactions per minute compared to VISA. The system is too slow. And while they are trying to make it faster, it will still be slow. ETH has the same issue, even when 2.0 finally comes around. It' can't sit there like precious metals. It needs to actually be a payment method. In no way, shape or form is it ... YET. Edited November 25, 2020 by Brunell4MVP 2 Quote Link to post Share on other sites
cubd8 294 Posted November 26, 2020 Share Posted November 26, 2020 How much bitcoin do you have (in US Dollars)? Quote Link to post Share on other sites
Dan Lambskin 13,612 Posted November 27, 2020 Share Posted November 27, 2020 19 hours ago, cubd8 said: How much bitcoin do you have (in US Dollars)? A lot less then I did a few days ago 2 Quote Link to post Share on other sites
Rhythmdoctor 1,463 Posted November 27, 2020 Share Posted November 27, 2020 21 hours ago, cubd8 said: How much bitcoin do you have (in US Dollars)? The first rule of Bitcoin HODLing is to never discuss how much Bitcoin you have. 1 2 Quote Link to post Share on other sites
hooter311 2,622 Posted November 27, 2020 Share Posted November 27, 2020 Buy the dip. With billions riding in the crypto futures markets this time around, these sort of pullbacks are healthly and help clear out leveraged money. Also squeezed out a lot of stop losses. The bitcoin supply crisis is looming. The force of paypal and square alone are selling more coins on a daily basis then what are being mined. Expecting the price to consolidate between 17k-19k for maybe 10-14 days before making a run at the all time high. Once we bust 20k this thing is going to take off with FOMO. We have a good 5 months+ of this bull market run. Target price by april- 63k Still think we could hit it by end of the year. 3 1 Quote Link to post Share on other sites
Rhythmdoctor 1,463 Posted November 28, 2020 Share Posted November 28, 2020 3 hours ago, hooter311 said: Buy the dip. With billions riding in the crypto futures markets this time around, these sort of pullbacks are healthly and help clear out leveraged money. Also squeezed out a lot of stop losses. The bitcoin supply crisis is looming. The force of paypal and square alone are selling more coins on a daily basis then what are being mined. Expecting the price to consolidate between 17k-19k for maybe 10-14 days before making a run at the all time high. Once we bust 20k this thing is going to take off with FOMO. We have a good 5 months+ of this bull market run. Target price by april- 63k Still think we could hit it by end of the year. I agree with most of what you said although I think the pull back will be a little deeper. We should touch the 20 week moving average during this dip which, depending on time, I project will hit around 13 K. But aside from the price range we consolidate within, I pretty much agree with everything else you said. Thanks for your input. Quote Link to post Share on other sites
hooter311 2,622 Posted November 29, 2020 Share Posted November 29, 2020 @shades You are a coward to laugh at analysis without offering any insight of your own. How 'bout dat? 1 Quote Link to post Share on other sites
leftcoastguy7 406 Posted December 1, 2020 Share Posted December 1, 2020 Can anyone recommend an e-wallet provider? Somewhere where I can easily deposit/withdraw? I want to start giving some of my money to online sportsbooks. Quote Link to post Share on other sites
JerseyToughGuys 3,149 Posted December 1, 2020 Share Posted December 1, 2020 22 minutes ago, leftcoastguy7 said: Can anyone recommend an e-wallet provider? Somewhere where I can easily deposit/withdraw? I want to start giving some of my money to online sportsbooks. Green Wallet https://blockstream.com/green/ 1 Quote Link to post Share on other sites
hooter311 2,622 Posted December 1, 2020 Share Posted December 1, 2020 1 hour ago, leftcoastguy7 said: Can anyone recommend an e-wallet provider? Somewhere where I can easily deposit/withdraw? I want to start giving some of my money to online sportsbooks. I wouldnt make a habit of sending from an exchange to a sportsbook. The exchange will be looking to shut you down. I use a third party anonymous wallet as a go between. 2 Quote Link to post Share on other sites
leftcoastguy7 406 Posted December 1, 2020 Share Posted December 1, 2020 1 hour ago, hooter311 said: I wouldnt make a habit of sending from an exchange to a sportsbook. The exchange will be looking to shut you down. I use a third party anonymous wallet as a go between. Could you help with some advice as to the steps I should take? I don't know #### about BitCoin. I don't want to invest or harvest or anything. I just want to buy bitcoin to fund my degenerate gambling activities. Can you buy Bitcoin with a credit card? Or checking account draw? Quote Link to post Share on other sites
Dan Lambskin 13,612 Posted December 1, 2020 Share Posted December 1, 2020 1 hour ago, leftcoastguy7 said: Could you help with some advice as to the steps I should take? I don't know #### about BitCoin. I don't want to invest or harvest or anything. I just want to buy bitcoin to fund my degenerate gambling activities. Can you buy Bitcoin with a credit card? Or checking account draw? Buy from an exchange (Coinbase, for example), then transfer to a wallet (blockchain, for example). Then transfer to sportsbook those are the ones I use, there may be better options for each 2 Quote Link to post Share on other sites
Peyton Marino 4,778 Posted December 2, 2020 Share Posted December 2, 2020 On 11/29/2020 at 11:05 AM, hooter311 said: @shades You are a coward to laugh at analysis without offering any insight of your own. How 'bout dat? get his ### 1 Quote Link to post Share on other sites
hooter311 2,622 Posted December 2, 2020 Share Posted December 2, 2020 15 hours ago, Dan Lambskin said: Buy from an exchange (Coinbase, for example), then transfer to a wallet (blockchain, for example). Then transfer to sportsbook those are the ones I use, there may be better options for each This is exactly the path I've seen work in the past. Buy at coinbase and then transferred to an anonymous wallet from blockchain.info and then to and from sportsbooks from there. Quote Link to post Share on other sites
Peyton Marino 4,778 Posted December 16, 2020 Share Posted December 16, 2020 On 12/17/2017 at 10:13 AM, PinkydaPimp said: It hit 20k this morning. almost 3 years to the day! 2 1 Quote Link to post Share on other sites
Dan Lambskin 13,612 Posted December 16, 2020 Share Posted December 16, 2020 1 Quote Link to post Share on other sites
lumpy19 8,256 Posted December 16, 2020 Share Posted December 16, 2020 1 hour ago, Peyton Marino said: almost 3 years to the day! Wasting gobbs of time betting sports for pennies when I should have just put it in BTC and relaxed Quote Link to post Share on other sites
Peyton Marino 4,778 Posted December 16, 2020 Share Posted December 16, 2020 3 minutes ago, lumpy19 said: Wasting gobbs of time betting sports for pennies when I should have just put it in BTC and relaxed well i wouldn't call price movement in btc the last 3 years relaxing, but the point is taken. Quote Link to post Share on other sites
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