HOT TOPIC Bitcoin / Cryptocurrency Discussion (And Predictions)

[Kevin88660]

Gold was confiscated in the past by government for those smart enough to hoard it.

So can gold really be considered a good hedge?

It is a global currency. Still used as saving and dowry in South Asia and Middle East.

All the central banks still have gold holdings as back up plan. This speaks volume on what they think about gold.

 

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[csalvato]

It is a global currency. Still used as saving and dowry in South Asia and Middle East.

All the central banks still have gold holdings as back up plan. This speaks volume on what they think about gold.

And what will it say when central banks start also holding bitcoin and stop buying gold for that purpose?

 

[Timmy C]

It is a global currency. Still used as saving and dowry in South Asia and Middle East.

All the central banks still have gold holdings as back up plan. This speaks volume on what they think about gold.

Yeh, sure.

But what does it say about is effectiveness as a store of value when it's easily confiscatable?

 

[Timmy C]

Is there a bigger Bitcoin Bull than Michael Saylor?

https://twitter.com/i/web/status/1363217687162281986

View: https://twitter.com/johnkvallis/status/1363217687162281986?s=19

 

[Timmy C]

Google search trends.

 

[Frinys]

Google search trends.

View attachment 36901

Just wanted to add some more pictures. This is what Google Trend looked like in the end of September 2017.

As we all can see, the trend blew past the previous ATH (Dec 2013).

And let's look at another picture. What the trend looked like at the end of 2017.

As we can see, the trend transformed into a rocket. The ATH from 2013 seems close to irrelevant.

It's fair to assume that the same thing will happen again this time.

 

[Timmy C]

Just wanted to add some more pictures. This is what Google Trend looked like in the end of September 2017.

View attachment 36902 As we all can see, the trend blew past the previous ATH (Dec 2013).

And let's look at another picture. What the trend looked like at the end of 2017.
View attachment 36903
As we can see, the trend transformed into a rocket. The ATH from 2013 seems close to irrelevant.

It's fair to assume that the same thing will happen again this time.

Nice find.

 

[Timmy C]

For anyone wanting to learn a bit more about Bitcoin.

 

[mguerra]

Thanks @Timmy C . Really insightful.

 

[csalvato]

View attachment 36904

For anyone wanting to learn a bit more about Bitcoin.

Pretty sure bitcoin doesn't fit the description of a pegged currency though.

Understanding a Currency Peg and Exchange Rate Policy

A currency peg is a policy in which a national government sets a specific fixed exchange rate for its currency.

www.investopedia.com

It's unfortunate, because the rest of the doc is pretty good.

 

[Timmy C]

Pretty sure bitcoin doesn't fit the description of a pegged currency though.

Understanding a Currency Peg and Exchange Rate Policy

A currency peg is a policy in which a national government sets a specific fixed exchange rate for its currency.

www.investopedia.com

It's unfortunate, because the rest of the doc is pretty good.

Didn't see that hahaha.

 

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[Timmy C]

If Peter capitulates, im out lmao.

 

[Timmy C]

My prediction:

30 - 40% pullback here.
Consolidation.
Parabolic top.
Bear market within 3 months.

 

[monfii]

Where do you get crypto news from?

I'm not talking about prices, but more about what projects different blockchains are working on and what it means for the future.

 

[Kak]

Bill Gates says cryptocurrency is one innovation the world could do without

Bill Gates, the Microsoft co-founder and technological whiz turned philanthropist, doesn't seem to be a fan of bitcoin and other digital-assets.

www.marketwatch.com

Is anyone surprised that commie Gates thinks this? I can’t stand him.

 

[MTF]

Not sure if its fits here but perhaps it does:

Earth 2 Is a Virtual Earth and It Is Going Viral — What You Need to Know

Is Earth 2 the next Bitcoin?

medium.com

Earth 2

earth2.io

Interesting speculation or total BS?

 

[Matt Sun]

Not sure if its fits here but perhaps it does:

Earth 2 Is a Virtual Earth and It Is Going Viral — What You Need to Know

Is Earth 2 the next Bitcoin?

medium.com

Earth 2

earth2.io

Interesting speculation or total BS?

Thought is this controlled by a central entity? There is a crypto and decentralised version of this, it's called OVR

This is what google says about OVR, quite similar: "Buy your virtual land, start an auction and mint your unique Land token. Buy OVRLand. OVR is the decentralized infrastructure for the spatial web, merging physical and virtual world through Augmented Reality, creating a new dimension where everything is possible"

 

[Kak]

Not sure if its fits here but perhaps it does:

Earth 2 Is a Virtual Earth and It Is Going Viral — What You Need to Know

Is Earth 2 the next Bitcoin?

medium.com

Earth 2

earth2.io

Interesting speculation or total BS?

It actually sounds like a cool capitalist game to get for kids.

 

[MTF]

It actually sounds like a cool capitalist game to get for kids.

I'd get this for your kids:

 

[AceVentures]

Not sure if its fits here but perhaps it does:

Earth 2 Is a Virtual Earth and It Is Going Viral — What You Need to Know

Is Earth 2 the next Bitcoin?

medium.com

Earth 2

earth2.io

Interesting speculation or total BS?

Decentralized MMORPG with the whole world within the same server! The value is there only in so far as the network is there.

There is no "VIRTUAL WORLD" vs the "REAL WORLD". There could be infinite virtual worlds. You as a user get a choice into which of these virtual worlds you want to log into.

The fact that people are creating virtual worlds and selling plots of land as if their virtual world is THE virtual world is hilarious to me. There are infinite virtual worlds - which one people choose to interact inside of depends on the value they receive within each.

Similar to early days of the internet - I believe we're seeing the boom of innovative ideas. And many are being sold today not based on merit, but mostly hopium. This is the "DOG.COM" of the crypto world! Wow! Project gets $500MM in funding overnight... Idk man, I think it takes a lot of creativity and talent to produce anything that people actually care about and will want to live inside of.

Whether Earth 2 becomes the main space everyone interacts within will depend on if people give a shit about Earth 2 and about building a community inside of it.

In my opinion, decentralized worlds with incentive structures to reward and democratize the user experience back to the users will grow and gain in popularity, because the game or the world will become more and more custom tailored to the players of that experience.

Those that wish another world can fork off into their own democratized version of the game, with possibly new rules and reward structures.

Btw I don't believe that many people will opt to live in a virtual world that's constrained by the size of the earth and the land patches that are for sale... lmao I think this is a feature of our limited imagination.

*Thinks of infinitely scaleable and powerful virtual world capable of modified physics and altered reality!
*Recreates the world exactly as it is and starts selling plots of land in california

 

[nitrousflame]

Where do you get crypto news from?

I'm not talking about prices, but more about what projects different blockchains are working on and what it means for the future.

I've personally found twitter hard to beat for getting nearly live updates, but it requires some initial setup such as picking accounts to follow.

Beyond that, there are plenty of options not limited to: reddit, discord servers, telegram, podcasts, youtube, etc, etc.

 

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[Kasimir]

Bill Gates says cryptocurrency is one innovation the world could do without

Bill Gates, the Microsoft co-founder and technological whiz turned philanthropist, doesn't seem to be a fan of bitcoin and other digital-assets.

www.marketwatch.com

Is anyone surprised that commie Gates thinks this? I can’t stand him.

He's not wrong in my mind. Because it's not essential, and he's more focused on essential needs. Like food, water, clean air, etc.
However, I have to say that I think crypto will help the world a lot and will change it to the better.

 

[Kasimir]

My prediction:

30 - 40% pullback here.
Consolidation.
Parabolic top.
Bear market within 3 months.

Good point. We'll surely see a pretty big pullback. But I don't think it will go all the way to 30-40%.
The reason for that is that in my mind some companies will transfer a serious amount of their cash assents into bitcoin as soon as prices drop further, like tesla did a few weeks ago. Don't get me wrong would love to see a huge pullback, could finally buy some more, but my prediction is rather around 20-25%.

 

[EVMaso]

I'd love to see a good pullback, but it seems like there are so many people and now institutions on the sidelines waiting to "jump in" (and in the case of institutions, increase their already regular buys) that wouldn't they just pop that price right back up? Like the most recent "small" dip that lasted all of what a couple of hours?

 

[Timmy C]

Good point. We'll surely see a pretty big pullback. But I don't think it will go all the way to 30-40%.
The reason for that is that in my mind some companies will transfer a serious amount of their cash assents into bitcoin as soon as prices drop further, like tesla did a few weeks ago. Don't get me wrong would love to see a huge pullback, could finally buy some more, but my prediction is rather around 20-25%.

I'll honestly be shocked if we don't pull back 30-40%.

 

[James Fake]

From the same person who brought you

Based on sentiment, this reeks of 10-15% flash pullback...

on this past Saturday morning...

I now present to you a "BUY THE DIP" opportunity today, tonight, and into some parts of tomorrow. Don't miss it. I have marked the place I believe we are in with a 'HERE' box tag.

In 3-4 days; Bitcoin will resume it's climb to $100k by first week of March. (roughly March 8-9th is when we should be approaching the $100k mark).

Good luck!

 

[OverByte]

@James Fake - what data are you using to drive those models? If you've already explained this forgive me (this thread is enormous now), just curious what inputs you're using to create these graphs of the future?

 

[JamesQB8]

I've personally found twitter hard to beat for getting nearly live updates, but it requires some initial setup such as picking accounts to follow.

Beyond that, there are plenty of options not limited to: reddit, discord servers, telegram, podcasts, youtube, etc, etc.

Any particular recommendations for twitter and also podcasts please?

I've been listening to the what bitcoin did podcast for a while but it'll be nice to dive into altcoin projects etc

 

[Timmy C]

The meme is the message.

https://twitter.com/i/web/status/1363865814844252168

View: https://twitter.com/APompliano/status/1363865814844252168?s=19

 

[James Fake]

@James Fake - what data are you using to drive those models? If you've already explained this forgive me (this thread is enormous now), just curious what inputs you're using to create these graphs of the future?

No worries! Yeah; this thread got super packed and things getting lost left and right, I can't even find my own stuff.

So essentially; I have been following Bitcoin for a really long time; and around fall of 2020, I was almost for certain that the general sentiment matched a certain psychological stage: Disbelief around $10-15k. Almost no one was optimistic and only a minor few believed Bitcoin would soon break $25k (those people would often get the 'yeah sure' reaction).

Anywho; around that time, I took the 2017 bull run chart and overlaid it over where I thought I felt that same exact feeling and sentiment back then and put it over the 2020 chart.

It's been following it almost the exact T. It's going through all the traditional psy stages as it advances further.

The only part I doubted was the dip from $40-42k back down to $28k. It spanned over several weeks, and the longer it sat there, the weaker it was getting with absolutely no catalyst in sight. Even though my "forecasted chart" showed it would bounce and pop the ATH and run, it was getting harder and harder to see it actually happening and it to continue following (public interest, retail interest, investor interest, and momentum dropped off a cliff).

Then the White Swan happened out of no where and Elon and Tesla came in. And boom; just like that, the current trend continued right up and followed along.

Now; I no longer will doubt this thing one bit and will stick to my guns til the end with this thing lol.

What we are seeing now is the ultra violent shake out about mid-way through. It turns everybody bearish and super worried and fear-locked to buy more. Well, we know what happens next when that FEAR consumes everyone into paralysis.

Looking at the broad market; the $1,900,000,000 stimmy passed the house budget committee which is a big step and pretty much will be a smooth coast through the House vote this Friday and then Senate later after.

It was actually pretty big news, yet it is no where to be seen on any of the big media homepages. It's wayyyy below the fold. $1.9 Trillion dollars?!? It's the most important thing.... in the near and mid and long term... by far.. no other news is remotely close to the magnitude of this.

Yet, it's all buried and hidden away. You literally have to go searching for stimmy updates to know whats going on.

Anywho; the main news is all Fearful. "Rates will rise, JPOW blah blah". Yet.. JPOW has been begging for more and big stimulus or saying the economy will see very big problems. Yellen shares the same and have been saying the same things. YET... everybody thinks JPOW will raise rates? That would be a gigantic 110% CONTRADICTION of what he has been begging for, for months. If he thought for one bit that the economy would have any chance of getting better, he wouldn't be begging for no stimulus with his huge threats of economic disaster. SO he is going to magically get better economic data (without the big stimmy baked in) and raise rates? I very much doubt it.

I think this was just to shake some hands out this week, grab cheaper stock on discount, before the last big melt up to S&P 4400ish.

This is why I believe Bitcoin is merely a mid-way SCARE dip, and ultra bullish on it.. I think the rest of the crypto world will figure it out by Friday.