Bitcoin.....

[houstonhobbyist25]

Going long on Enron, Lehman, and Sears because the prices have never been better.

Blood in the water, baby! Only a total idiot would be buying I-Bonds right now.

[Ben Rhimene]

Going long on Enron, Lehman, and Sears because the prices have never been better.

Blood in the water, baby! Only a total idiot would be buying I-Bonds right now.

Hey Captain Optimist! I would be happy to sell you my Enron shares...bought them on a dip as the market turned on them.

That dip became a plummet but happy to share my experience with others...

[RunTheCourse]

Only a total idiot would be buying I-Bonds right now.

I'm a tad confused....if part of your approach is long, the market is extremely volatile, you can procure a guaranteed 7-9+ % depending on inflation, you have another place to park some cash, with a gifting option and 7-9+ % will outperform some stocks...Then I'm the idiot bc I see the blood but I don't see the idiocy.

[Klarnax]

Y'all's reading comprehension skill level does not give me a lot of confidence in your economic prognosis...so keep buying reddit wolf tickets LOL

[Ben Rhimene]

Yep. Lotsa people spouting off with neither the education nor experience.

For example, bitcoin currently sits at $20,400 and hasn't seen $25k since mid-June. The November I-bond priced at 6.89% through next April, and was 9.68% annually last May.

[Ben Rhimene]

Update.

Bitcoin opened under $15k today. Up a bit but the FTX situation seems to be affecting the sector.

FWIW, gold is down as well...very few safe places to park cash, unless you got into the last I-bond.

[houstonhobbyist25]

Putting every last penny I have in the opposite of whatever Gisele Bündchen invests in next.

[Ben Rhimene]

Bitcoin approaching $23k in price, and has recouped the losses since FTX broke last fall.

In related news the FBI has tracked a recent crypto hack to North Korea:

https://www.cnbc.com/2023/01/24/nort...-fbi-says.html

If you have issues with this particular source feel free to Google crypto hack and you will find plenty.

[RunTheCourse]

There will be one more pullback to 26K, this is the moment, the bottom has been booked.

[houstonhobbyist25]

Just buy low and sell high.
Investing is actually very easy.

[RunTheCourse]

Lol

[pumpernickel]

LMFAO. All you HOFDLers can wait a minimum of 4 years to see profit, if at all. Bill Gates denounces crypto, Bitcoin down 67%, and rate hikes mean flight to quality, which is NOT crypto.

I hope you are right (for your sake), but every bit of my old analytic body says you are fucked...

This will not age well. I don't think 2024 will be a rocket year like most are suggesting; there is plenty of downfall if the ETF is not approved and most of the price appreciation has been accounted for it actually being approved. With that said, once the first rate cut comes in the following 3-6 months we may see a dip in all asset prices with crypto taking the brunt of it.

It's really 2025 forward, probably 6 months at minimum but closer to 10 months for the halving's impact to come into play. The halving is April 2024, so that's when it becomes literally the most scarce asset and will retain the largest market cap. That'll relay into the market probably no earlier than October 2024, but likely no later than July 2025.

Still the right move is buying and hodling it. And 70% of current bitcoin-specifc buyers agree, that's up from 63% pre-covid. And I imagine it'll grow to over 80% by decade's end. We will continue to disagree on this, but let's keep checking back every 6-12 months. I'm pretty positive year over year, and years over years, this will reign true. Once more people understand the independence this has from federal manipulation, the more people will buy in.

[Ben Rhimene]

This will not age well.


Still the right move is buying and hodling it. And 70% of current bitcoin-specifc buyers agree, that's up from 63% pre-covid. And I imagine it'll grow to over 80% by decade's end. We will continue to disagree on this, but let's keep checking back every 6-12 months. I'm pretty positive year over year, and years over years, this will reign true. Once more people understand the independence this has from federal manipulation, the more people will buy in.

Yes. Let's.

I do not disagree that profits can be had short-term. But I have yet to hear a cogent argument as to how private digital currency survives the digital dollar. Explain that to me like I'm 5...

[pumpernickel]

Yes. Let's.

I do not disagree that profits can be had short-term. But I have yet to hear a cogent argument as to how private digital currency survives the digital dollar. Explain that to me like I'm 5...

I am not really a short-term guy. I've been in it since 2010.

The digital dollar is not synonymous to bitcoin at all-- digital dollar will be tied to the US which is backed by literally nothing but money printing and rate manipulation. Bitcoin will be governed by scarcity and liquidity. It's literally the polar opposite of the digital dollar. I know people call it digital gold, I just call it bitcoin.

It's going to be the hardest asset that has the most liquidity, yet scarcity. Do you know any current 1st world currency, let alone any world currency, that has those properties? It also does not require any intervention to move borders or hands, do you know any 1st world country(or any country) that allows that? The answer to those is no. So it's portable, scarce, highly liquid. No country has a currency or a medium like that. For an explanation to a 5 year old, Bitcoin will hold it's value by scarcity but still have the tremendous liquidity and portability to be accessed as a medium or currency with literally no intervention. The digital dollar has the liquidity but no portability and the opposite of scarcity but with full intervention.

The US intervention right now for crypto is at the exchange level, they realize they cannot actively manage bitcoin and have already accepted that. What they can do is manage the underlying exchanges-- hence why Binance went down and momentum for the ETF is finally having headway. So the US regulation/intervention comes at the exchange level, the actual ownership of Bitcoin comes at the hardware wallet level. There's a difference and this isn't to promote criminal activity--you'll see Banks do far more actual dollars in criminal activity than bitcoin since it became more mainstream in Winter 2018. But to explain the difference between operating from a hardware wallet versus exchange, consider operating cash with anonymity but full disclosure versus paying card. The blockchain will record the transaction but it's unlikely to be deciphered on a normal basis. If it engages in criminal, then yes it can be escalated. But i can see $100 go from wallet to wallet with no idea who it is & what it is for.

It's going to be very attractive to hold than move or spend. When digital dollars come out, I intend to use those to varying degrees because of ease. But the fundamental use of the two are completely different.

[BigBamboo]

If bitcoin, digital dollars, stock market and greenbacks are your only investments you?re not diversified enough if shit goes south. And if anything were to happen that disrupts access to digital communication long term then bitcoin wont help you. Point being don?t put all your eggs in one basket and plan for the worst but hope for the best.