You guys gonna buy Bitcoin or just talk smack about it while it runs to 100K?

[MattyMatt]

Looked up GTBC. Got GTBCX - some Goldman Sax future.

You sure that's the right symbol, Matt?

Oops, didn’t even realize I typed it wrong, GBTC. Sorry about that.

 

[raiders72]

I can't grasp that concept. I'm a numismatist and somewhat of an American history guy.

The original coinage of the the US starting in 1793 had a high ratio of intrinsic value ( call it metallic content ), relative to face value , so you had a good chunk of faith with the copper, silver, and gold in the coin.

The mint could not produce enough coinage for commerce in the early years, up until the civil war was over. What sufficed as coinage was a hodgepodge of European ( mostly English and Spanish coins ), some American stuff, and some bartering in order to do business.

The dollar gained faith and trust over the centuries, FDR kinda fucked that up circa 1933 with Gold, but our coins still were silver until 1964.

Point is there is history to back the the US dollar, I see nothing behind Bitcoin !

Say I'm old fashioned and over the hill, but I will not touch BTC

If the US becomes a socialist country, the US dollar won't be worth a thing. BTC is a universal currency where one country falling, doesn't mean BTC falls. Many in Greece and Venezuela turned to BTC when times became tough.

 

[mightyminnow]

back in the day when was 8 cents or maybe 8/10 cent... gf asked what i wanted for birthday, i replied 500$ in bitcoin. she bought and paid for, i must say, incredible vacation in hawaii instead. said she didnt want to waste money on "gambling"

 

[tanner12oz]

If the US becomes a socialist country, the US dollar won't be worth a thing. BTC is a universal currency where one country falling, doesn't mean BTC falls. Many in Greece and Venezuela turned to BTC when times became tough.

In Venezuela I'm fairly certain you could have fared better if you had roasting chickens, bread or flour. All of which are more in demand then bitcoin.

 

[seldomseen]

It will definitely go over $20k, probably $30-40k, then another fall. $100k wouldn't be a shocker in 5 years.

Curious are you still big on TRX?

 

[texansfan]

Curious are you still big on TRX?

TRX blows.

 

[raiders72]

In Venezuela I'm fairly certain you could have fared better if you had roasting chickens, bread or flour. All of which are more in demand then bitcoin.

 

[raiders72]

[FONT=&quot]orn in 2008 in response to the global banking and credit crisis, bitcoin has found its "patient zero" a decade later in Venezuela. Faced with hyperinflation, a worthless local currency and a risky black market for dollars, Venezuelans are increasingly turning to bitcoin as a tool for survival in the world's worst-performing economy.[/FONT]

https://www.newsweek.com/venezuela-economic-crisis-perfect-storm-bitcoin-lifeline-opinion-1402684

 

[raiders72]

Curious are you still big on TRX?

Texans has been good on his coin picks but I'm more optimistic on TRX than he is. ADA is the future.

 

[LargeMarge]

back in the day when was 8 cents or maybe 8/10 cent... gf asked what i wanted for birthday, i replied 500$ in bitcoin. she bought and paid for, i must say, incredible vacation in hawaii instead. said she didnt want to waste money on "gambling"

This is a tough beat, but you prob woulda cashed out when it hit a dollar

 

[Illini]

Where is Everfresh?

 

[PatsFan1283]

If it is 18k when football season is done then I’m definitely selling, hell of a run up though

 

[metro]

Texans has been good on his coin picks but I'm more optimistic on TRX than he is. ADA is the future.

you disparage BTC but are big on tron and ada lol .. top Raman much ?

 

[metro]

SCARCITY ( w security )

46M millionaires in the world .. they will not be able to all buy 1 bitcoin each .. security .. bitcoins blockchain has never been hacked ..

for most people that own bitcoin it has a solid chance to be your most valuable possession at some point.

Because people assign value to it. Its exactly the same as Baseball cards (or any collectibles), old cars and diamonds. To some people that stuff is straight up dumb and to others super valuable. The items themselves arent by nature valuable to everyone.

 

[PatsFan1283]

Why do those 46M need to own 1 though metro? It isn’t the only asset in the world

Not saying it has no utility but I still have a hard time wrapping my head around the long term usage.

Happy that it is up right now but all risk on assets are humming, Tesla is worth close to 500B and they haven’t made a profit yet. And doesn’t appear they will anytime soon. That’s central banking for ya

 

[metro]

Why do those 46M need to own 1 though metro? It isn’t the only asset in the world

Not saying it has no utility but I still have a hard time wrapping my head around the long term usage.

Happy that it is up right now but all risk on assets are humming, Tesla is worth close to 500B and they haven’t made a profit yet. And doesn’t appear they will anytime soon. That’s central banking for ya

they don't need to it just kinda shows the scarcity of it .. the long term usage is as a store of value so as long as bitcoins blockchain is never hacked ..

the value is in the scarcity bolstered by its security

 

[metro]

it is a store of value and eventually can be used to settle ledgers of many smaller transactions ( lite coins lightning network for example )

 

[metro]

if the lightning network gained mass adoption ( pipe dream ) .. it would be crazy talk estimating what they would make the value of a bitcoin .. not even 1 million would be unrealistic .. bitcoin is used for staking every node on the lightening network..


so essentially anyone can open up a lightening network node .. you are able to handle transactions up to the amount that you stake the node with bitcoin with .. the bitcoin sits while all the micro. transactions are processed with lite coin ..

 

[metro]

I am problem botching that

 

[raiders72]

you disparage BTC but are big on tron and ada lol .. top Raman much ?

I've been a huge bitcoin supporter since 2013.