BITCOIN Discussion..........

[heiraelle]

About 2 years

It's not bad. I still wish I had bought bitcoin in 2012.

 

[Pimike]

Look those that think it’s boring are missing the point.

If your waiting for it to reach it all time high again to jump in the action, then you are missing the boat again.

You need to invest now not when it goes past 30,000 or more

There is nothing like Bitcoin in this world to send money the way bitcoin allows you to. It’s limitless.
Bitcoin isn’t going away.

Also it will eventually run out of coins and that will make it more valuable. Don’t wait till the supply or price is out of reach.

 

[rolandcorts]

Bitcoin has value but nothing you mentioned says anything about whether its value is a price of 1k per coin or 100k per coin. Who really needs BTC to send money? Businesses are still not interested, poor people are using it instead of western union now but they are doing tiny volume, and then there's ... gamblers? Go stop someone on the street. They don't have BTC and have no use for it.

And BTC is divisible so no one will ever be priced out. It's not like the housing market in NYC or something.

Finally, scarcity is a necessary condition for value. it's not sufficient. Just because it's scarce doesn't imply it's valuable.

 

[Ace7550]

Roland,
In your opinion, by end of 2024 bitcoin price is higher than today or lower?

 

[Pimike]

That’s what people said about many things before it was extremely popular.
There are countries right now that only use bitcoin.
Those who had a chance to invest in New York years past are hating themselves for not investing.

I anm recommending everybody to invest in a minimum of 0.3 bitcoins.

I don’t see bitcoin ever going under 10,000 again. September is historically a bad month. But this year was proven not to be. It is holding nicely during a historically bad month.

hey it’s your money it’s your future.

Shoot many here woukd be better off putting their gambling money into Bitcoin verses the books. You will profit more.

 

[rolandcorts]

Roland,
In your opinion, by end of 2024 bitcoin price is higher than today or lower?

No idea. I still hold a lot to bet but I don't have anything extra beyond that anymore. Sold consistently over the last 2 years. I hope it goes up, I hope people adopt it and use it, but it's been 6 years that it's been mainstream and yet noone is really using it.

There's no country that only uses bitcoin. Even countries that desperately need to start using it, like Argentina, are not. They use USD.

 

[Pimike]

No idea. I still hold a lot to bet but I don't have anything extra beyond that anymore. Sold consistently over the last 2 years. I hope it goes up, I hope people adopt it and use it, but it's been 6 years that it's been mainstream and yet noone is really using it.

There's no country that only uses bitcoin. Even countries that desperately need to start using it, like Argentina, are not. They use USD.

Not true

El Salvador and the Central African Republic (CAR). Use Bitcoin for everything

 

[rolandcorts]

You have absolutely no hope of using exclusively BTC in those countries but yes many places will accept it (because technically the govt legislated that they have to). But more importantly, they are tiny meaningless countries. When people proffer them as evidence that BTC is used, they're almost making their point look worse.

If Argentina goes this way under their hopefully new incoming President, then you are onto something.

 

[Ace7550]

No idea. I still hold a lot to bet but I don't have anything extra beyond that anymore. Sold consistently over the last 2 years. I hope it goes up, I hope people adopt it and use it, but it's been 6 years that it's been mainstream and yet noone is really using it.

There's no country that only uses bitcoin. Even countries that desperately need to start using it, like Argentina, are not. They use USD.

Good points. It's much more of a digital gold, than it is an every day use currency.

 

[JDS]

MicroStrategy purchased 5,445 BTC at approximately US$27,053 each. It now owns an estimated 158,245 BTC in total currently worth over US$4 billion. Did this spike the price at all this week lol ?

 

[Pimike]

MicroStrategy purchased 5,445 BTC at approximately US$27,053 each. It now owns an estimated 158,245 BTC in total currently worth over US$4 billion. Did this spike the price at all this week lol ?

No

 

[rolandcorts]

Even these huge buys don't budge it upwards; barely keeps the BTC price afloat.

 

[JDS]

No

That’s crazy Mike.

 

[Pimike]

That’s crazy Mike.

I agree
Actually concerning

 

[jjgold]

It’s dead I’ve been saying it for years

 

[Ace7550]

I’ve been saying it for years

You sure have

 

[rabiddog]

Even these huge buys don't budge it upwards; barely keeps the BTC price afloat.

Many don't understand how big buys or sells happen. They don't go on the open market, they are bought or sold on OTC. If you were buying 10,000 bitcoin you wouldn't go on an exchange and put in a 10,000 buy. You'd spike the market and get bad fills. So what happens you tell the OTC desk I want 10,000 bitcoin filled and they fill at the best price. This might take a day or 2 or even a week, same thing happens when you sell big blocks. This also happens in stocks.

All markets go through cycles. We are in the boring phase of Bitcoin. Bear market is over, this is the time when smart people are accumulating and dumb are saying the market is dead and over.

 

[Tanko]

It’s dead I’ve been saying it for years

Probably be saying for several more years.... Eventually, you'll be right.
Wait, you might be dead before it happens though.

 

[nymets11]

It’s dead I’ve been saying it for years

I don't think I'd be bragging about that

 

[rolandcorts]

Many don't understand how big buys or sells happen. They don't go on the open market, they are bought or sold on OTC. If you were buying 10,000 bitcoin you wouldn't go on an exchange and put in a 10,000 buy. You'd spike the market and get bad fills. So what happens you tell the OTC desk I want 10,000 bitcoin filled and they fill at the best price. This might take a day or 2 or even a week, same thing happens when you sell big blocks. This also happens in stocks.

All markets go through cycles. We are in the boring phase of Bitcoin. Bear market is over, this is the time when smart people are accumulating and dumb are saying the market is dead and over.

You don't buy 10k BTC, using any method, without directly raising the price (unless there are countervailing pressures pushing it downward). Breaking it up and spreading it out over 2 weeks doesn't change that.