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

[KVB]

will Visa be threatened by greater adoption of Bitcoin?

How can you even compare the networks?

If BTC network got any real percentage of the action the VISA network gets in a day and BTC will have a helluva time processing due to congestion.

The transaction rates per day, hour, minute, and second are not even comparable. Not even close.

 

[chuckythegoat2]

I won't discuss crypto with anyone outside the forums. Too frustrating and they think they know it all.

Very interesting point, Raiders. I'll add on a few of my own notes:

1) It really takes some time to understand Bitcoin/Cryptography. It's like you have to take a college course 2x over to start learning it.

2) A good starting point would be the history of fiat money. Go back to Johnson's Coinage Act of 1965 and Nixon taking the US off the Gold standard in 1971. Think those acts have any relevance in 2024?

3) I'm a big believer in people only thinking about what they've seen with their own eyes. An American living today has (mostly) only seen prosperity. No one living today (for the most part) lived thru the Great Depression.
...So why would they anticipate any change? The USA is a super-power (in perpetuity), right?

 

[flyingillini]

Who is excited about the “having”??(

 

[BigJay]

Is this a good time to buy the dip? Or are you thinking it sneaks back down to 36-37ish?

 

[chuckythegoat2]

Who is excited about the “having”??(

Illini, see post 584. Raiders points out the halving cycle.

This is a key point. BTC investment should be viewed on 4-year cycles. Asset scarcity is key, and the production slows down after the halving.

The charts are out there. The fractal behavior across the halving has been proven to repeat.

 

[chuckythegoat2]

Is this a good time to buy the dip? Or are you thinking it sneaks back down to 36-37ish?

Jay, we're 15% down from a local high (49k) during a bull-market. That says BUY sign, for me.

Check back in 30 days. I'll project the 41,300 to go north.

 

[Ace7550]

Jay, we're 15% down from a local high (49k) during a bull-market. That says BUY sign, for me.

Check back in 30 days. I'll project the 41,300 to go north.

Predicting bitcoin movement in the short term is very difficult. I don't know if we will see another pull back in the near future. But, if the halving has the same effect on price that it's had in the past BTC should go for another ride by early 2025.
I agree with Chucky. Don't try to time the market perfectly. This pull back seems like a pretty good time to get in.
And FWIW, I am increasing my position right now.

 

[Ace7550]

I think this chart has been posted before, but it's my favorite to show the effect of the halving. The pattern is very clear. And if you inserted data for the last 5 years to bring it current the pattern would continue.

 

[Ace7550]

Interesting read. Amazing that almost 20% of the total BTC supply has already been lost.

Are Your Lost Bitcoins Gone Forever? Here’s How You Might Be Able To Recover Them | Bankrate

While Bitcoin spent the last decade soaring and making millionaires out of many people, other owners of the world’s largest cryptocurrency have missed out. Why? One major reason: they’ve lost access to their account.

www.bankrate.com

 

[flyingillini]

We need to see a 35k coin before the "purge" begins.

 

[chuckythegoat2]

Is this a good time to buy the dip? Or are you thinking it sneaks back down to 36-37ish?

Similar to Ace's chart, I like this circle presentation. Basically shows that over any 4-year cycle, BTC price is always trending up.

 

[flyingillini]

Katrina Cook
@Katrina39056003
#20x potential

$LINK
$ATOM
$MATIC

#50x potential

$INJ
$QNT
$EGLD
$AZERO

#100x potential

$VRA
$TAO
$XRD
$KUJI
$KAS
$CKB
$FORE
$RDNT
$MNW
$ROSE
$CSPR
$RNDR
$NXRA
$RNDR

#1000x potential

$RIO
$MLT
$GET
$TET
$GFAL
$CSIX
$DNX
$TARA
$SDEX
$FACT
$LOOP
$CHNG
$TRIAS
$NAKA
$ZANO
$RIF

 

[Wagerallsports]

Any specific reason why it's dropped?

 

[homie1975]

Katrina Cook
@Katrina39056003
#20x potential

$LINK
$ATOM
$MATIC

#50x potential

$INJ
$QNT
$EGLD
$AZERO

#100x potential

$VRA
$TAO
$XRD
$KUJI
$KAS
$CKB
$FORE
$RDNT
$MNW
$ROSE
$CSPR
$RNDR
$NXRA
$RNDR

#1000x potential

$RIO
$MLT
$GET
$TET
$GFAL
$CSIX
$DNX
$TARA
$SDEX
$FACT
$LOOP
$CHNG
$TRIAS
$NAKA
$ZANO
$RIF

all of those are gambles

 

[homie1975]

Any specific reason why it's dropped?

could be a myriad of reasons.

- the ETF releases recently where the SEC did not want to approve them but was basically forced to.

- Halving event coming April/May where the price *should* go up but some may be concerned.

- recent comments (yet again) by Chase Bank CEO Jamie Dimon hating on Bitcoin

etc etc

 

[flyingillini]

The purge is happening

 

[homie1975]

The purge is happening

explain, so you don't sound like a robot.

please. thanks.

 

[rolandcorts]

homie did you profit on this drop too? lol

 

[homie1975]

homie did you profit on this drop too? lol

buying more on the way down.

on the next rip, i might hold as i am building a very substantial position now.

 

[Wagerallsports]

You guys holding steady?