The Entrepreneur Forum | Financial Freedom | Starting a Business | Motivation | Money | Success

Welcome to the only entrepreneur forum dedicated to building life-changing wealth.

Build a Fastlane business. Earn real financial freedom. Join free.

Join over 80,000 entrepreneurs who have rejected the paradigm of mediocrity and said "NO!" to underpaid jobs, ascetic frugality, and suffocating savings rituals— learn how to build a Fastlane business that pays both freedom and lifestyle affluence.

Free registration at the forum removes this block.

Bitcoin / cryptocurrency crash #2

Kal-El1998

Bronze Contributor
Read Fastlane!
Speedway Pass
User Power
Value/Post Ratio
77%
Nov 25, 2020
257
199
When do you guys think it will happen? Personally, all I know is that when it all drops off again, I'll actually buy some this time for the 3rd wave.
 
Dislike ads? Remove them and support the forum: Subscribe to Fastlane Insiders.

Beebop27

Bronze Contributor
Read Fastlane!
Speedway Pass
User Power
Value/Post Ratio
110%
Jun 22, 2020
98
108
Sydney, Australia
When do you guys think it will happen? Personally, all I know is that when it all drops off again, I'll actually buy some this team for the 3rd wave.
We are at the beginning of the next crypto bull run.

Not going to give crypto investment advice, but if you wait for too long you might be kicking yourself for not investing when bitcoin was at $20,000.

Going from growth rates from 2013............$20,000 in 2020 is low.

As the famous chinese saying goes, best time to plant a tree was 20 years ago, the second best time is now.
 

Kevin88660

Platinum Contributor
FASTLANE INSIDER
Read Unscripted!
Speedway Pass
User Power
Value/Post Ratio
118%
Feb 8, 2019
3,459
4,083
Singapore
When do you guys think it will happen? Personally, all I know is that when it all drops off again, I'll actually buy some this team for the 3rd wave
Predicting market is tough.

My hunch is that catching retracement will be tough. We will go parabolic to 40k/btc before the crypto bull market ends for this

As half of the price jump occurs at the last leg of the bull run, I think top is near, in 2-3 months. We could take btc from 20k to 40k before end march 2021.

We don’t buy the 100k narrative soon. Btc market cap is no longer small. The price pattern is behaving just like any alternative assetsWhen S&P goes down it crashes much more, when S&P goes up it trails behind. Only when there is excess margin liquidity in the stocks money flows to crypto, then there is hope for bull market.

Gone are the days when crypto remains uncorrelated to stocks.
 

100k

Gold Contributor
Read Fastlane!
Speedway Pass
User Power
Value/Post Ratio
149%
Oct 20, 2012
1,529
2,284
If you have the balls .... Short that shit.

But it won't drop in price for another 5-10-20 years.

Once hackers and early adopters get their hands on quantum computers .... RIP Bitcoin.
 
Dislike ads? Remove them and support the forum: Subscribe to Fastlane Insiders.

Bekit

Legendary Contributor
FASTLANE INSIDER
EPIC CONTRIBUTOR
Read Fastlane!
Summit Attendee
Speedway Pass
User Power
Value/Post Ratio
493%
Aug 13, 2018
1,135
5,601
A better question to ask is, "What possible conditions could lead to another big retraction in bitcoin?"

They won't be the same conditions that prompted the last big drop.

This is how I think this through:

The USD is currently the world's reserve currency.

USD is backed by "the full faith and trust of the US government."

Which, everyone now knows, means nothing.

It used to mean a lot.

Not so much anymore.

So the nations of the world are going to be on the lookout for a different option.

Well, what option can they possibly pick?

Who's gonna trust China enough to use their currency?

Who's gonna think the euro is a good idea?

There's no good, serious option out there.

When the realization dawns on more and more people that USD is done for, more and more people are going to turn to the best logical alternative.

Which is bitcoin.

Now, do the math.

There are only 21 million total possible bitcoins, ever.

There are 7.5 billion people on the planet.

If everybody got an equal piece of bitcoin, that would mean 0.0028 bitcoin per person.

So if there was a person who had managed to get one whole bitcoin, they would be massively wealthy in comparison to everyone else.

And then factor in the fact that...
- LOTS of people already have more than one bitcoin to their name. I just read an article that said Michael Saylor (CEO of MicroStrategy) personally owns 17,000 bitcoin.
- Of course governments will want their (nice big) share. How much is the annual budget of even an average-sized country?
- Companies will obviously hold big amounts. (Example: The same article about Michael Saylor said that he was buying $1,000 in bitcoin every second for MicroStrategy, and he has amassed $650 million worth of bitcoin since Dec 11. That's only 11 days ago.)
- Some bitcoins have been lost because (whatever - people died without telling anyone their keys, etc.)

Suddenly, that 0.0028 bitcoin looks like an unattainably high portion to acquire.

More and more people are seeing it in this light.

No longer is bitcoin a "speculative investment class" or "way to diversify your portfolio."

In many people's minds, bitcoin is moving to feel more like land ownership.

Land is something that you pass down, generation after generation.

You don't just cash it out. You've got a finite resource here.

Some people own thousands of acres. Other people are lucky to rent a 400 square foot flat.

So we get back to the original question.

What conditions or circumstances or events could possibly trigger a mass sell-off of bitcoin, given the way people view it differently now?

If people view bitcoin as something they would only cash out as a last resort, then bitcoin will only be sold in the event of bankruptcy and other major life events that call for liquidity.

But this will be sporadic, as people run into it, and not as a mass sell-off.

While there will be other cryptocurrencies and technologies that we might use in our everyday lives (as I don't see bitcoin becoming a substitute for cash), the only major sell off trigger I can see is (a) A better technology arises, in which case people who already hold bitcoin will be the best positioned to switch over to it, (b) A worldwide infrastructure collapse where ordinary people no longer have access to electricity, or (c) Massive government crackdown that strips people of their right to own anything.

This is all just my own opinion.

Will there be fluctuations? Obviously.

But will there be another reset?

I don't think so.
 

Tourmaline

Gold Contributor
Read Fastlane!
Read Unscripted!
Summit Attendee
Speedway Pass
User Power
Value/Post Ratio
120%
Jun 4, 2019
898
1,082
Texas
The difference between then and now is we have seen several huge corps invest in bitcoin.

It's broken through its high, so who knows when it'll come back down.

Perhaps it'll go to the moon?
 

Attachments

  • 1608673401327.png
    1608673401327.png
    1,002.5 KB · Views: 1

Beebop27

Bronze Contributor
Read Fastlane!
Speedway Pass
User Power
Value/Post Ratio
110%
Jun 22, 2020
98
108
Sydney, Australia
I disagree.

Quantum computing will not effect b.coin or crytomarket. I think it will update.

I initially thought this, but have a cryptographer friend who explained to me how this will not happen.

If you have the balls .... Short that shit.

But it won't drop in price for another 5-10-20 years.

Once hackers and early adopters get their hands on quantum computers
 
Dislike ads? Remove them and support the forum: Subscribe to Fastlane Insiders.

Beebop27

Bronze Contributor
Read Fastlane!
Speedway Pass
User Power
Value/Post Ratio
110%
Jun 22, 2020
98
108
Sydney, Australia
A better question to ask is, "What possible conditions could lead to another big retraction in bitcoin?"

They won't be the same conditions that prompted the last big drop.

This is how I think this through:

The USD is currently the world's reserve currency.

USD is backed by "the full faith and trust of the US government."

Which, everyone now knows, means nothing.

It used to mean a lot.

Not so much anymore.

So the nations of the world are going to be on the lookout for a different option.

Well, what option can they possibly pick?

Who's gonna trust China enough to use their currency?

Who's gonna think the euro is a good idea?

There's no good, serious option out there.

When the realization dawns on more and more people that USD is done for, more and more people are going to turn to the best logical alternative.

Which is bitcoin.

Now, do the math.

There are only 21 million total possible bitcoins, ever.

There are 7.5 billion people on the planet.

If everybody got an equal piece of bitcoin, that would mean 0.0028 bitcoin per person.

So if there was a person who had managed to get one whole bitcoin, they would be massively wealthy in comparison to everyone else.

And then factor in the fact that...
- LOTS of people already have more than one bitcoin to their name. I just read an article that said Michael Saylor (CEO of MicroStrategy) personally owns 17,000 bitcoin.
- Of course governments will want their (nice big) share. How much is the annual budget of even an average-sized country?
- Companies will obviously hold big amounts. (Example: The same article about Michael Saylor said that he was buying $1,000 in bitcoin every second for MicroStrategy, and he has amassed $650 million worth of bitcoin since Dec 11. That's only 11 days ago.)
- Some bitcoins have been lost because (whatever - people died without telling anyone their keys, etc.)

Suddenly, that 0.0028 bitcoin looks like an unattainably high portion to acquire.

More and more people are seeing it in this light.

No longer is bitcoin a "speculative investment class" or "way to diversify your portfolio."

In many people's minds, bitcoin is moving to feel more like land ownership.

Land is something that you pass down, generation after generation.

You don't just cash it out. You've got a finite resource here.

Some people own thousands of acres. Other people are lucky to rent a 400 square foot flat.

So we get back to the original question.

What conditions or circumstances or events could possibly trigger a mass sell-off of bitcoin, given the way people view it differently now?

If people view bitcoin as something they would only cash out as a last resort, then bitcoin will only be sold in the event of bankruptcy and other major life events that call for liquidity.

But this will be sporadic, as people run into it, and not as a mass sell-off.

While there will be other cryptocurrencies and technologies that we might use in our everyday lives (as I don't see bitcoin becoming a substitute for cash), the only major sell off trigger I can see is (a) A better technology arises, in which case people who already hold bitcoin will be the best positioned to switch over to it, (b) A worldwide infrastructure collapse where ordinary people no longer have access to electricity, or (c) Massive government crackdown that strips people of their right to own anything.

This is all just my own opinion.

Will there be fluctuations? Obviously.

But will there be another reset?

I don't think so.
I think another major factor are Govt crack downs on exchanges and also projects.
Cracking down on exchanges have caused huge market downturns in the past.

What makes bitcoin special is that it is an asset which is founded on trust (ie. through mining / algorithm checking) and the premise of decentralization. No entry / transaction can be forged (unless you own 51%, which is near impossible) or changed. This is b.coins power.
 

gryfny

Bronze Contributor
Read Fastlane!
Read Unscripted!
Speedway Pass
User Power
Value/Post Ratio
140%
Jun 11, 2019
206
288
Europe
I am listening to some BTC/crypto podcasts lately. And experts (who are biased on bitcoin probably) say that the difference between now and the 2017 bullrun is that big corporate investors are getting in now. And they don't panic sell when it dips. So let's hope it will keep on going up for a while.
 
D

Deleted78083

Guest
Bitcoin is an enormous bubble fueled by a self-fulfilling prophecy and ignorance.

I am more bullish on etereum since it has at least some practical applications.

I have the feeling that the people buying btc now are the same that bought tesla at 1000$, or a house in 2006. There is an enormous sheep effect.

That being said, I do not believe at all in the abandonement of the dollar, or in stagflation, or even in inflation.

Things will remain the same, just a little worse.
 
Dislike ads? Remove them and support the forum: Subscribe to Fastlane Insiders.

WestCoast

Gold Contributor
FASTLANE INSIDER
Read Fastlane!
Read Unscripted!
Speedway Pass
User Power
Value/Post Ratio
311%
Jan 20, 2008
506
1,573
Rhode Island for now.
I don't really understand the bitcoin fuss.

Are people actually using it as a new currency, or, is it just another vehicle for speculation?
It's hard to imagine it being both.

I ignore it completely, personally.
I invest in myself, which is at least something I can control.
*shrug*
 

AceVentures

Platinum Contributor
FASTLANE INSIDER
Read Unscripted!
Summit Attendee
Speedway Pass
User Power
Value/Post Ratio
404%
Apr 16, 2019
846
3,419
I think another major factor are Govt crack downs on exchanges and also projects.
Cracking down on exchanges have caused huge market downturns in the past.

What makes bitcoin special is that it is an asset which is founded on trust (ie. through mining / algorithm checking) and the premise of decentralization. No entry / transaction can be forged (unless you own 51%, which is near impossible) or changed. This is b.coins power.

Except China has, by the latest estimates, more than 50% of the hashpower. Why? Because they don't have to abide by climate change regulations - and thus generate dirt cheap electricity.

The majority of that power is run by 4 major bitcoin mining farms in China - (quoted from XRP CEO)

You think it's really "impossible" for the CCP to influence that power?

Proof of work vs proof of stake.
 

AceVentures

Platinum Contributor
FASTLANE INSIDER
Read Unscripted!
Summit Attendee
Speedway Pass
User Power
Value/Post Ratio
404%
Apr 16, 2019
846
3,419
I don't really understand the bitcoin fuss.

Are people actually using it as a new currency, or, is it just another vehicle for speculation?
It's hard to imagine it being both.

I ignore it completely, personally.
I invest in myself, which is at least something I can control.
*shrug*

The big fuss is about preserving your buying power.

Look at Argentina, look at Venezuela, look at Iran. When the local currency tanks, and the government locks your useless currency in their centralized banks, what happens to your life savings? Poof... gone before your eyes. A lifetime of playing by their rules, living the F*cking script, and one foreign policy change made by some politicians that lack awareness of healthy fiscal policies and everything you worked for is gone.

When the governments around the world have locked the economy from churning because of a virus with over a 99% survival rate, when they start printing free money by the trillions and dumping it into circulation, you're dealing with global corruption on a massive scale. Short sighted shit.

Not everyone is that short sighted. Some people like to believe in a future in which YOU own your buying power. YOU own your identity. And you don't need to suck some bank clerks dick for 3 meetings before you have "authorization" to make transfers. And more importantly, the value of your currency is not tied to the decisions of biased, corrupt humans.
 
Dislike ads? Remove them and support the forum: Subscribe to Fastlane Insiders.

Speculatooor

Bronze Contributor
Read Rat-Race Escape!
Read Fastlane!
Read Unscripted!
Speedway Pass
User Power
Value/Post Ratio
249%
Jul 11, 2019
152
378
Netherlands
The bitcoin crash just happened the past years. And now you want to wait for a crash to buy?

bmsw2uiab1661.jpg
 

WestCoast

Gold Contributor
FASTLANE INSIDER
Read Fastlane!
Read Unscripted!
Speedway Pass
User Power
Value/Post Ratio
311%
Jan 20, 2008
506
1,573
Rhode Island for now.
The big fuss is about preserving your buying power.

Look at Argentina, look at Venezuela, look at Iran. When the local currency tanks, and the government locks your useless currency in their centralized banks, what happens to your life savings? Poof... gone before your eyes. A lifetime of playing by their rules, living the f*cking script, and one foreign policy change made by some politicians that lack awareness of healthy fiscal policies and everything you worked for is gone.

When the governments around the world have locked the economy from churning because of a virus with over a 99% survival rate, when they start printing free money by the trillions and dumping it into circulation, you're dealing with global corruption on a massive scale. Short sighted shit.

Not everyone is that short sighted. Some people like to believe in a future in which YOU own your buying power. YOU own your identity. And you don't need to suck some bank clerks dick for 3 meetings before you have "authorization" to make transfers. And more importantly, the value of your currency is not tied to the decisions of biased, corrupt humans.

Quite the rant, and I don't disagree fundamentally. Debasement of currency everywhere is a significant risk to savings.

That said, my confusion is, is bitcoin a hedge? Like RE, like metals?
If so, that makes some sense.

But, the story that seems to get told is 'it's going to replace currency as we know it!!!!!1'
And my viewpoint is... it likely can't be both.

No one is using gold coins and 'junk silver' to buy stuff. It is a way to store value, protect yourself. Sure.
Keep control. Yes.

But, I don't get the hype that bitcoin can be more than a speculative store of value.
Fundamentally, if it's a store of value and a defensive investment - you aren't going to want to trade that daily to buy what you need to survive.

All that said, this makes bitcoin to me similar to every other vehicles used to hedge against currency inflation.

Just because it's 'popular' and trendy, doesn't give it any innate characteristics that make it a more worthy investment than the myriad other vehicles already available to the savvy investor.

It's not a magic potion that is a hedge and a currency. I think it's more the former than the latter, and I pick other ways to invest my money because of that.
 
Dislike ads? Remove them and support the forum: Subscribe to Fastlane Insiders.

AceVentures

Platinum Contributor
FASTLANE INSIDER
Read Unscripted!
Summit Attendee
Speedway Pass
User Power
Value/Post Ratio
404%
Apr 16, 2019
846
3,419
No I think most would agree with you that bitcoin does not replace currency - its quite inefficient for that purpose and it is widely accepted as such.

Bitcoin can serve as a primary store of value - and can be converted to other coins for various functions.

What I'm really excited about is the decentralized web.
 

Beebop27

Bronze Contributor
Read Fastlane!
Speedway Pass
User Power
Value/Post Ratio
110%
Jun 22, 2020
98
108
Sydney, Australia
Bitcoin is an enormous bubble fueled by a self-fulfilling prophecy and ignorance.

I am more bullish on etereum since it has at least some practical applications.

I have the feeling that the people buying btc now are the same that bought tesla at 1000$, or a house in 2006. There is an enormous sheep effect.

That being said, I do not believe at all in the abandonement of the dollar, or in stagflation, or even in inflation.

Things will remain the same, just a little worse.
So many to reply in here, and still working out the bubble quotes.

To say bitcoin is an enormous bubble fueled by self-fullfilling prophecy and ignorance shows in my humble view that you do not understand bitcoin and its potential. The code is solid and once it hits main stream adoption it will skyrocket. Its existence has been tested time and time again, and continues to plow through the naysayers and cynics. Its not going away.

Ethereum is also solid, and some say a better than bitcoin in that it has more practical uses, however the two blockchains are in my humble view ..... co-dependent. History has shown that the rise in bitcoin also influences ethereum's price. It has most of the crypto market cap and is not something that can be dismissed.

That said, my confusion is, is bitcoin a hedge? Like RE, like metals?
If so, that makes some sense.

But, the story that seems to get told is 'it's going to replace currency as we know it!!!!!1'
And my viewpoint is... it likely can't be both.

No one is using gold coins and 'junk silver' to buy stuff. It is a way to store value, protect yourself. Sure.

Keep control. Yes.

Bitcoin as a coin is a form of value storage. It is finite, and unbreakable (unless you have a 51% attack, which is right now is virtually not possible). Supply and demand 101.

But unlike gold, it also is a blockchain which has practical uses. It's essentially a ledger that is constantly checked and verified. You cant lie or make up some bullshit that you transfered $1000 to Mr ABC. Its all recorded forever. And not only that..... its decentralised and done anonymously. No big brother involved. Its also instant... (to a certain degree).

I can send $10,000 across the globe in an instant, and anonymously at that with no govt organisation or corporate body knowing or have anything to do with it. I can also do that anonymously. That is power.
 
D

Deleted78083

Guest
So many to reply in here, and still working out the bubble quotes.

To say bitcoin is an enormous bubble fueled by self-fullfilling prophecy and ignorance shows in my humble view that you do not understand bitcoin and its potential. The code is solid and once it hits main stream adoption it will skyrocket. Its existence has been tested time and time again, and continues to plow through the naysayers and cynics. Its not going away.

Ethereum is also solid, and some say a better than bitcoin in that it has more practical uses, however the two blockchains are in my humble view ..... co-dependent. History has shown that the rise in bitcoin also influences ethereum's price. It has most of the crypto market cap and is not something that can be dismissed.

That said, my confusion is, is bitcoin a hedge? Like RE, like metals?
If so, that makes some sense.

But, the story that seems to get told is 'it's going to replace currency as we know it!!!!!1'
And my viewpoint is... it likely can't be both.

No one is using gold coins and 'junk silver' to buy stuff. It is a way to store value, protect yourself. Sure.

Keep control. Yes.

Bitcoin as a coin is a form of value storage. It is finite, and unbreakable (unless you have a 51% attack, which is right now is virtually not possible). Supply and demand 101.

But unlike gold, it also is a blockchain which has practical uses. It's essentially a ledger that is constantly checked and verified. You cant lie or make up some bullshit that you transfered $1000 to Mr ABC. Its all recorded forever. And not only that..... its decentralised and done anonymously. No big brother involved. Its also instant... (to a certain degree).

I can send $10,000 across the globe in an instant, and anonymously at that with no govt organisation or corporate body knowing or have anything to do with it. I can also do that anonymously. That is power.


1. It stores value, but the storing is expensive due to blockchain maintenance and bitcoin mining. There is almost no cost to store gold.

2. It has no clear use. We know what it does, but we don't know why we would want to do it.

3. No centralization nor control is dangerous as countries around the world like to be able to control things. When they ban cryptocurrencies (and they will once they make their own), what will people do then?

4. It has already been banned by Kyrgyzstan, Bolivia, Thailand, Denmark, Bangladesh, Iran, Nepal, India and Ecuador.

5. The whole thing is super hypocritical. People are not buying bitcoins to use bitcoins...they buy it because it is making them a lot "money"! They buy bitcoin to wait for it to appreciate, sell, and use the currency they are going to sell it for, which outlines how bitcoin has very little practical use in people's mind since they intend at the end to keep on using money. In other words, it is a ponzi scheme, a pyramid which has value not because it is practical, but because people believe they can use it to fight inflation, which won't come anyway.
 
Dislike ads? Remove them and support the forum: Subscribe to Fastlane Insiders.
Last edited by a moderator:

awsamro

Contributor
User Power
Value/Post Ratio
80%
May 28, 2019
25
20
When do you guys think it will happen? Personally, all I know is that when it all drops off again, I'll actually buy some this team for the 3rd wave.
For me personally I put $45,000 into The Bitcoin Fund (QBTC.TO) inside a Registered Retirement Savings Plan in Canada. This will shelter the capital gains if any from taxes. Its as if I own 1.5 bitcoins. I might put a bit more to reach the equivalent of 2 bitcoins. Thats about it. If it goes up like crazy I make some money. If it goes down then its not that bad. There are some fees for the bitcoin fund but I think the tax shelter is worth it. Any thoughts?
 

Timmy C

I Will Not Stop!
EPIC CONTRIBUTOR
Read Fastlane!
Read Unscripted!
Speedway Pass
User Power
Value/Post Ratio
230%
Jun 12, 2018
2,921
6,727
Melbourne, Australia
A better question to ask is, "What possible conditions could lead to another big retraction in bitcoin?"

They won't be the same conditions that prompted the last big drop.

This is how I think this through:

The USD is currently the world's reserve currency.

USD is backed by "the full faith and trust of the US government."

Which, everyone now knows, means nothing.

It used to mean a lot.

Not so much anymore.

So the nations of the world are going to be on the lookout for a different option.

Well, what option can they possibly pick?

Who's gonna trust China enough to use their currency?

Who's gonna think the euro is a good idea?

There's no good, serious option out there.

When the realization dawns on more and more people that USD is done for, more and more people are going to turn to the best logical alternative.

Which is bitcoin.

Now, do the math.

There are only 21 million total possible bitcoins, ever.

There are 7.5 billion people on the planet.

If everybody got an equal piece of bitcoin, that would mean 0.0028 bitcoin per person.

So if there was a person who had managed to get one whole bitcoin, they would be massively wealthy in comparison to everyone else.

And then factor in the fact that...
- LOTS of people already have more than one bitcoin to their name. I just read an article that said Michael Saylor (CEO of MicroStrategy) personally owns 17,000 bitcoin.
- Of course governments will want their (nice big) share. How much is the annual budget of even an average-sized country?
- Companies will obviously hold big amounts. (Example: The same article about Michael Saylor said that he was buying $1,000 in bitcoin every second for MicroStrategy, and he has amassed $650 million worth of bitcoin since Dec 11. That's only 11 days ago.)
- Some bitcoins have been lost because (whatever - people died without telling anyone their keys, etc.)

Suddenly, that 0.0028 bitcoin looks like an unattainably high portion to acquire.

More and more people are seeing it in this light.

No longer is bitcoin a "speculative investment class" or "way to diversify your portfolio."

In many people's minds, bitcoin is moving to feel more like land ownership.

Land is something that you pass down, generation after generation.

You don't just cash it out. You've got a finite resource here.

Some people own thousands of acres. Other people are lucky to rent a 400 square foot flat.

So we get back to the original question.

What conditions or circumstances or events could possibly trigger a mass sell-off of bitcoin, given the way people view it differently now?

If people view bitcoin as something they would only cash out as a last resort, then bitcoin will only be sold in the event of bankruptcy and other major life events that call for liquidity.

But this will be sporadic, as people run into it, and not as a mass sell-off.

While there will be other cryptocurrencies and technologies that we might use in our everyday lives (as I don't see bitcoin becoming a substitute for cash), the only major sell off trigger I can see is (a) A better technology arises, in which case people who already hold bitcoin will be the best positioned to switch over to it, (b) A worldwide infrastructure collapse where ordinary people no longer have access to electricity, or (c) Massive government crackdown that strips people of their right to own anything.

This is all just my own opinion.

Will there be fluctuations? Obviously.

But will there be another reset?

I don't think so.


There already is better technology available, and it's called Litecoin. When people say Litecoin doesn't have any value, I laugh in their face.


Everything that's implemented on the Bitcoin protocol is done on Litecoin first, case in point the lighting network. They can't risk doing it to the big dog, so they test it on litecoin first to make sure it works as intended. Litecoin is much better for transactions than bitcoin, but it doesn't matter as when Bitcoin has issues such as the speed of transactions when the network is busy as we have seen before, this gets fixed by people.

The lightning network has come along nicely for bitcoin and now this issue is being mitigated.

They don't take over BTC as BTC has a larger network effect than other cryptocurrencies, and the other forms of currency don't have any meaningful time available to steal the market share of Bitcoin as whatever leaks in the boat are getting fixed along the way.

Bitcoin can indeed still be a transactional currency in my view. Its already proved itself as a store of value.
 
Dislike ads? Remove them and support the forum: Subscribe to Fastlane Insiders.

Timmy C

I Will Not Stop!
EPIC CONTRIBUTOR
Read Fastlane!
Read Unscripted!
Speedway Pass
User Power
Value/Post Ratio
230%
Jun 12, 2018
2,921
6,727
Melbourne, Australia
People need to stop looking at Cryptocurrency as just another Tulip mania; this space will disrupt the existing market and create completely new markets that never existed before.

People like Michael Saylor and plenty of other institutions don't put their entire cash reserve on the Bitcoin standard for no reason. The USD is a liability to them with all of this money printing; Bitcoin beats the crap out of Fiat money all day long.
 

Alfie321

Bronze Contributor
Speedway Pass
User Power
Value/Post Ratio
136%
Sep 29, 2016
77
105
31
I might buy another one if it goes down again. I'll probably get out between 50-100k. I'm fine with it dropping to 0 though. 28k is not going to disrupt lifestyle in any form so fine there.
 
Dislike ads? Remove them and support the forum: Subscribe to Fastlane Insiders.

Kal-El1998

Bronze Contributor
Read Fastlane!
Speedway Pass
User Power
Value/Post Ratio
77%
Nov 25, 2020
257
199
For me personally I put $45,000 into The Bitcoin Fund (QBTC.TO) inside a Registered Retirement Savings Plan in Canada. This will shelter the capital gains if any from taxes. Its as if I own 1.5 bitcoins. I might put a bit more to reach the equivalent of 2 bitcoins. Thats about it. If it goes up like crazy I make some money. If it goes down then its not that bad. There are some fees for the bitcoin fund but I think the tax shelter is worth it. Any thoughts?
Yeah...I don't have 45k lmao
 

Timmy C

I Will Not Stop!
EPIC CONTRIBUTOR
Read Fastlane!
Read Unscripted!
Speedway Pass
User Power
Value/Post Ratio
230%
Jun 12, 2018
2,921
6,727
Melbourne, Australia
I disagree.

Quantum computing will not effect b.coin or crytomarket. I think it will update.

I initially thought this, but have a cryptographer friend who explained to me how this will not happen.


There is still a narrative in circulation the Quantum will destroy Bitcoin, a narrative debunked years ago now.
 
Last edited:

Post New Topic

Please SEARCH before posting.
Please select the BEST category.

Post new topic

Guest post submissions offered HERE.

Latest Posts

New Topics

Fastlane Insiders

View the forum AD FREE.
Private, unindexed content
Detailed process/execution threads
Ideas needing execution, more!

Join Fastlane Insiders.

Top