Bitcoin / Cryptocurrency Discussion (And Predictions)

[socaldude]

https://kalshi.com/events/crypto

Interesting what Kalshi contracts are trading for on $BTC.

 

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[MJ DeMarco]

Kinda quiet in here, wonder why...

In the meantime, how much has your business grown?

How many more customers have you acquired?

How much $$ have you stacked atop your business valuation?

If you sold your company now, what's it worth?

Are you making money while you sleep?

Or, are you still patiently waiting and hoping for some miraculous price explosion with something you have absolutely no control over?

 

[Jon822]

Or, are you still patiently waiting and hoping for some miraculous price explosion with something you have absolutely no control over?

Jokes on you -- all I need are several strategic reincarnations and it's practically guaranteed crypto will make me rich.

To the moon!

 

[The Sandman]

I'm in for the long haul. Zooming out you can barely see the pullback. I think there's plenty of room to run, and it looks like 60k will be support.

View attachment 54798

Nice consolidation and testing support, getting ready for the next wave up. I draw lines because that's what I see experts do.

 

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[socaldude]

Someone in my social circle recently lost 50% of their life savings in crypto.

The guy is devastated.

I don’t offer my opinion on anything but is this really the same investing “regime” as they call it as the years previous?

 

[Ing]

Someone in my social circle recently lost 50% of their life savings in crypto.

The guy is devastated.

I don’t offer my opinion on anything but is this really the same investing “regime” as they call it as the years previous?

how did he do that? Leverage or scam?

 

[The Sandman]

https://twitter.com/i/web/status/1783404977576374720

View: https://twitter.com/naiivememe/status/1783404977576374720

 

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[Kevin88660]

Someone in my social circle recently lost 50% of their life savings in crypto.

The guy is devastated.

I don’t offer my opinion on anything but is this really the same investing “regime” as they call it as the years previous?

In this cycle, the young chaps who discuss “which is the coin that the retails will ape?”or “When the retails are coming in?” are the last guys holding the bags.

The retails, as well as many bigger institutional players are wiped out in 2022, still waiting for FTX liquidation.

 

[Ing]

Someone in my social circle recently lost 50% of their life savings in crypto.

The guy is devastated.

I don’t offer my opinion on anything but is this really the same investing “regime” as they call it as the years previous?

Ok, seems you have no answer.

Last week I bought BRETT, the first Base Memecoin and I „lost“ 50% of my investment. No, I didn’t. I would have, if I sold now.

Maybe, that’s the answer?

 

[NewManRising]

 

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[socaldude]

Ok, seems you have no answer.

Last week I bought BRETT, the first Base Memecoin and I „lost“ 50% of my investment. No, I didn’t. I would have, if I sold now.

Maybe, that’s the answer?

I'm gonna be a gentleman and respond and give an answer.

You're implying that I'm lying or kidding.

Huh? Losing 50% on $BTC is a mathematical impossibility?

Well, you just buy High and sell Low with greed or fear with both hands. You gamble and fall for the sensationalism on social media platforms. You think the price ain't going down, then it does, then it stays there for a long time.

You do that as a swing trade a few times and your trading career as crypto super star is well...not doing so well.

I know the guy, but I don't have his phone number so he can text over his trade settlements or screen shots. And I ain't gonna be a disrespectful douche and ask.

The point is, I'm just trying to be a good influence and help others learn from other people's mistakes.

We will see a big pullback in the markets this month or next month of April as it looks like the VIX wants to find a new floor.

Oh, and what's this? Looks like I was right again.

Yeah, I'm just a wannabe and a liar.

 

[GPM]

I want to look back on all this in a year and watch the 2020-21-22 chart look like a flat line. Kind of like how the last cycle made the one before it look like a flatish line.

I made one of my first ever FIAT to crypto trades the other day, WHAT A PAIN IN THE ARSE!!!!! No wonder there is so little adoption. It is a nightmare!

 

[Antifragile]

I want to look back on all this in a year and watch the 2020-21-22 chart look like a flat line. Kind of like how the last cycle made the one before it look like a flatish line.

I made one of my first ever FIAT to crypto trades the other day, WHAT A PAIN IN THE ARSE!!!!! No wonder there is so little adoption. It is a nightmare!

Walk us through it. If you made it through an exchange, was it really that bad?

I haven’t had big issues… just getting $$ to the exchange was time consuming.

 

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[GPM]

Tried to E-transfer money to coinbase (Canadian bank). Had the first one fail because it was over the limit I think. So I made a smaller one to test it, it went through instantly. So made a larger one. That "instant" transfer took like 3 hours.

Okay cash is on an exchange. Said exchange doesn't have the coin I want, so I buy LTC with my fiat poo coins. Now I own some LTC. I trade the LTC to the exchange I want it on.

LTC is now on XEGGEX exchange. I trade it for USDT, so that I can then trade into what I want. Now I own USDT. I trade my USDT into the coin I want.

Now I have the coin I want. I trade it off the exchange and into my own wallet.

Pain in the arse.

 

[Ing]

Cex mostly don’t have a banking license.
So the have to work together with a fiat bank.
Binance with UAB Bifinity, a lithuanian bank.
So every time my bank refuses to send my money there. Needs telefone time with bank every time.

To Kraken you can send via Paypal immediately. Costs 3%, but no phsycho.

 

[Ing]

I'm gonna be a gentleman and respond and give an answer.

You're implying that I'm lying or kidding.

Huh? Losing 50% on $BTC is a mathematical impossibility?

Well, you just buy High and sell Low with greed or fear with both hands. You gamble and fall for the sensationalism on social media platforms. You think the price ain't going down, then it does, then it stays there for a long time.

You do that as a swing trade a few times and your trading career as crypto super star is well...not doing so well.

I know the guy, but I don't have his phone number so he can text over his trade settlements or screen shots. And I ain't gonna be a disrespectful douche and ask.

The point is, I'm just trying to be a good influence and help others learn from other people's mistakes.



Oh, and what's this? Looks like I was right again.

Yeah, I'm just a wannabe and a liar.

I didn’t want to offend you.
Only it’s a tenor here to damn crypto as bad and evel and a story of someone loosing 50% fits perfectly to that.

I know that „making a loss“ well, but it’s imo never cryptos foult.

Sorry, when I tarnished your day, wasn’t my intention.

 

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[NewManRising]

I want to look back on all this in a year and watch the 2020-21-22 chart look like a flat line. Kind of like how the last cycle made the one before it look like a flatish line.

I made one of my first ever FIAT to crypto trades the other day, WHAT A PAIN IN THE ARSE!!!!! No wonder there is so little adoption. It is a nightmare!

I usually buy some USDC from Coinbase and then sent it to my Phantom wallet (no fee). Then swap it there for the coins I want. But this is mainly on the Solana chain.

 

[Timmy C]

Does anyone see a scenario that bitcoin is worth any less than $500,000 USD in 15 years time? I don't.

Money is worthless these days.

 

[Ing]

Imo planB‘s stf theory is quite acurate. Math doesn’t lie.

Maybe, when internet fades…

 

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[Timmy C]

Imo planB‘s stf theory is quite acurate. Math doesn’t lie.

Maybe, when internet fades…

That dudes been wrong on heaps, the same as almost every market participant that people think knows exactly what's going to happen.

 

[Antifragile]

Does anyone see a scenario that bitcoin is worth any less than $500,000 USD in 15 years time? I don't.

Money is worthless these days.

Yes.

If it’s worth $ Zero.

It’s entirely possible.

It’s almost guaranteed to exist for the next 5-8 years, but not for 15. If it gets there, then I expect it’ll follow power law in price predictions. I’ll have to model it to see where it lands in 15, but it’s likely more than double of $500k

Edit: plan B - stf is useless. It makes no sense for BTC.

 

[The Sandman]

Does anyone see a scenario that bitcoin is worth any less than $500,000 USD in 15 years time? I don't.

Money is worthless these days.

Of course. Those who can't lake perspective and imagination.

-encryption gets cracked and value goes to 0
-someone gets >50% mining capacity and robs everyone else
-developed nations outlaw it
-we enter a depression and value of the USD skyrockets

 

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[biophase]

Does anyone see a scenario that bitcoin is worth any less than $500,000 USD in 15 years time? I don't.

Money is worthless these days.

I don’t understand posts like this. I mean if you 100% believe this, why not go all in on it now. Then get however much btw you can afford today. Mortgage you home and get loans enough to pay 15 years of living expenses.

 

[Dark Water]

Is this the most viewed thread on the forum? If not, it's gotta be a top 5.

And it's essentially speculation at that. Even in this little corner of the world where people come together united under a shared mindset of "CENTS" and fastlane philosophy, something that is essentially 100% out of our control is the reigning topic.

To me, this is on par with downloading Draft Kings or hanging out at /r/wallstreetbets. Like what the F*ck are we doing here people?

Outside of some very basic knowledge/research of how all of this works and what the future potential might be, none of us should be wasting time participating in this. It's chasing money at it's finest, every second you spend analyzing, researching crypto is contributing nothing towards producing something of value.

It'd be very interesting to hear this thread shift to selling shovels; eg, ideas and businesses that can cleanup the environmental mess that crypto contributes to.

 

[Antifragile]

I don’t understand posts like this. I mean if you 100% believe this, why not go all in on it now. Then get however much btw you can afford today. Mortgage you home and get loans enough to pay 15 years of living expenses.

lol.

Price today $67k, to get to $500k over 15 years …that’s 7.46x gain.

Over 15 years!!!

And you want to go all-in?

I don’t understand posts like yours.

Is this the most viewed thread on the forum? If not, it's gotta be a top 5.

And it's essentially speculation at that. Even in this little corner of the world where people come together united under a shared mindset of "CENTS" and fastlane philosophy, something that is essentially 100% out of our control is the reigning topic.

To me, this is on par with downloading Draft Kings or hanging out at /r/wallstreetbets. Like what the F*ck are we doing here people?

I’m waiting for people like you to come here, shit on what I’m doing! That’s really useful.

Outside of some very basic knowledge/research of how all of this works and what the future potential might be, none of us should be wasting time participating in this. It's chasing money at its finest, every second you spend analyzing, researching crypto is contributing nothing towards producing something of value.

Right, because you said so… well all jump off right now and never look at a new emerging technology and how it might interact with our real business. Sounds reasonable.

It'd be very interesting to hear this thread shift to selling shovels; eg, ideas and businesses that can cleanup the environmental mess that crypto contributes to.

You are clearly an expert. We love experts.

Tell us more about the mess we’ve created!

 

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[Dark Water]

lol.

Price today $67k, to get to $500k over 15 years …that’s 7.46x gain.

Over 15 years!!!

And you want to go all-in?

I don’t understand posts like yours.



I’m waiting for people like you to come here, shit on what I’m doing! That’s really useful.


Right, because you said so… well all jump off right now and never look at a new emerging technology and how it might interact with our real business. Sounds reasonable.




You are clearly an expert. We love experts.

Tell us more about the mess we’ve created!

There's clearly two line of thoughts here: how will crypto affect my business, what steps can I take to be ready for it, and what research do I need to do to be informed for possible future systemic changes?

The other is equivalent to baseball card speculation... and getting caught up in trading and chasing the latest. With roots firmly in the "hope" category, trying to be apart of that next big cash out. That's sort of how the thread is framed though, with the OP being firmly on speculation and Bitcoin's pricing instead of legitimate business uses.

Whatever your use case is, I apologize if I hit a sensitive spot. May your HODLing, future speculation, or legitimate business uses treat you well.

 

[Dark Water]

You are clearly an expert. We love experts.

Tell us more about the mess we’ve created!

I think as responsible, informed business owners it's really important to acknowledge how one contributes to social costs, no?

Tracking electricity consumption from U.S. cryptocurrency mining operations - U.S. Energy Information Administration (EIA)

www.eia.gov

FACT SHEET: Climate and Energy Implications of Crypto-Assets in the United States | OSTP | The White House

Climate change is one of the most pressing problems confronting our nation and our world, and President Biden has taken bold steps to address it with legislation and policy. Among the President’s commitments are: protecting communities from pollution, reducing greenhouse gas emissions by 50% by...

www.whitehouse.gov

Is there an issue with involving these costs as a core part of the discussion here? Or are we only playing and fidgeting with our baseball cards, ignoring everything else?

 

[Antifragile]

There's clearly two line of thoughts here: how will crypto affect my business, what steps can I take to be ready for it, and what research do I need to do to be informed for possible future systemic changes?

The other is equivalent to baseball card speculation... and getting caught up in trading and chasing the latest. With roots firmly in the "hope" category, trying to be apart of that next big cash out. That's sort of how the thread is framed though, with the OP being firmly on speculation and Bitcoin's pricing instead of legitimate business uses.

Whatever your use case is, I apologize if I hit a sensitive spot. May your HODLing, future speculation, or legitimate business uses treat you well.

You didn’t hit any sensitive spot. I was in a “mood” to call out a few people who jump in on the thread with no apparent benefit… other than to say what (hopefully) everyone on this forum already knows.

Business > Speculation

Build a business. Full stop.

People like me collect art, play with blockchain and even if BTC went to $1 million TOMORROW, nothing changes in my life. But I’m here and read a lot about it, play with various chains, even meme coins. It’s a Wild West out there and fun way to learn.

Put it another way; reading a book about swimming won’t make you a swimmer. Get in the damn pool. Same thing here.

I think as responsible, informed business owners it's really important to acknowledge how one contributes to social costs, no?

Tracking electricity consumption from U.S. cryptocurrency mining operations - U.S. Energy Information Administration (EIA)

www.eia.gov

FACT SHEET: Climate and Energy Implications of Crypto-Assets in the United States | OSTP | The White House

Climate change is one of the most pressing problems confronting our nation and our world, and President Biden has taken bold steps to address it with legislation and policy. Among the President’s commitments are: protecting communities from pollution, reducing greenhouse gas emissions by 50% by...

www.whitehouse.gov

Is there an issue with involving these costs as a core part of the discussion here? Or are we only playing and fidgeting with our baseball cards, ignoring everything else?

If this peaks your interest, do more research. $BTC mining rigs now serve as space heaters too.

People like @GPM do that already, heat the whole house with rigs.

A lot of mining is based on sustainable energy sources! And it drives exploration of the same.

Let’s not pretend that mainstream media narrative is the only view on this. Their bias is clear to me. So I’m not going to just “jump on the bandwagon”.

Edit: for greater clarity, when you quote a government website to support your point on climate impact of blockchain technology, I take exception. Government prints money. It stands to reason than any threat to any government currency is (like $BTC) is not going to be well received.

Back in the day, tobacco companies showed doctors smoking and posted research on how smoking doesn’t cause cancer. Yeah, what do you think about them now?

 

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[Ing]

That dudes been wrong on heaps, the same as almost every market participant that people think knows exactly what's going to happen.

Stf is no exact prediction and the dimensions allways were right. Math don’t lie.
But doesn’t matter! Everything ok.