WTF is now wrong, all cryptos down?

[thomasparra]

Correct. BTC is the hardest money known to man.


Indeed. This is where all fiat currencies ultimately lead. Hard money always wins.

The Earth will also cease to exist at one point. You could be eventually right in year 2100 and we would be both long dead before your prophecy ultimately materializes.

Bitcoin, not crypto. "Crypto" is ultimately replicating the existing financial system on new digital rails. Highly centralized control where only a few insiders get rich.

Maybe. I have read that 0.01% of the total BTC holders have 60% of the BTC supply. Is that your definition of a pure decentralized system?

 

[Dreamy]

If you understood money, then it would be painfully obvious that the current system is broken beyond repair. But it's a hard chasm for most people to cross, because then they have to admit that everything they were taught about money is wrong.

"Diversification" is simply selling the winner to buy a bunch of loosers.

Your stocks/bonds/cash/real estate etc is not keeping up with debasement. You think you're getting ahead (and you are in nominal terms), but in real terms you're going backwards very quickly.

I wouldn't be so categorical. I have nothing against bitcoin. But when I hear that stocks and real estate are nonsense - ahaha - really? Are you serious now? That is, for example, having a million dollars, you think that you need to buy bitcoins with them, and not, for example, buy income-generating real estate for long-term rent with part of this money? And also, for example, buy shares of top US companies paying dividends for a couple of hundred thousand? Would you prefer not to do any of this, and just buy bitcoins now with your hard-earned million?

 

[void]

I wouldn't be so categorical. I have nothing against bitcoin. But when I hear that stocks and real estate are nonsense - ahaha - really? Are you serious now? That is, for example, having a million dollars, you think that you need to buy bitcoins with them, and not, for example, buy income-generating real estate for long-term rent with part of this money? And also, for example, buy shares of top US companies paying dividends for a couple of hundred thousand? Would you prefer not to do any of this, and just buy bitcoins now with your hard-earned million?

1) buying BTC is not an investment while buying RE and stock is as it involves counter-party risk requires edge to generate yield
2) that yield from RE and stock investments must by definition beat the expected growth of purchasing power of BTC which is currently from extremely hard to impossible

so yes, you really should buy bitcoin and appreciate how lucky we all are to be at the beginning of something bigger than the internet

 

[void]

You could be eventually right in year 2100 and we would be both long dead before your prophecy ultimately materializes.

the evolution doesn't work for individuals... if you expect to benefit from it yourself then you might be disappointed.... on the other hand I think it will be surprisingly fast

Maybe. I have read that 0.01% of the total BTC holders have 60% of the BTC supply. Is that your definition of a pure decentralized system?

decentralization doesn't mean equal distribution of the asset
commies have also quite strong opinions on how thing should and shouldn't look like - the (especially nowadays) popular equality is an absolute bulls**t and chimera - it's no surprise that in the early stage the majority is accumulated in the hands of those who are smart and/or have balls - adaptation is the key to success

 

[thomasparra]

1) buying BTC is not an investment while buying RE and stock is as it involves counter-party risk requires edge to generate yield
2) that yield from RE and stock investments must by definition beat the expected growth of purchasing power of BTC which is currently from extremely hard to impossible

so yes, you really should buy bitcoin and appreciate how lucky we all are to be at the beginning of something bigger than the internet

Would you mind pointing me to respectable sources so I can read more about BTC, its technology, and key factors for future adoption?

I understand that BTC has a fixed supply but even assuming no internal risk (e.g. technical vulnerabilities/hacks, ownership monopolies), I would like to assess the external risks as well (e.g. single government or governmental coalition creating a new cryptocurrency (US + EU creating a decentralized EUR USD cryptocurrency for example), or the creation of a new cryptocurrency with a better technology which is less costly to run and which get wide adoption quickly (Trump coin hit $15B in market cap in a day. BTC could be replaced in a matter of months with the right market signals (hype, support from various influential personalities/countries etc).

 

[void]

Would you mind pointing me to respectable sources so I can read more about BTC, its technology, and key factors for future adoption?

sorry, I'm probably not the right person to ask about up-to-date resources and you could miss something really good... maybe others will recommend

anyways....
check this out https://learnmeabitcoin.com/
also Andreas always did a good job as an educator https://aantonop.com/educational-videos/
I also always recommend the What is money show Saylor series which will give a lot to anyone

and Jason Lowery

for a way broader and philosophical picture of what's the nature of life, role of energy transformation and reasons why bitcoin is such a unique invention

 

[void]

I understand that BTC has a fixed supply but even assuming no internal risk (e.g. technical vulnerabilities/hacks, ownership monopolies), I would like to assess the external risks as well (e.g. single government or governmental coalition creating a new cryptocurrency (US + EU creating a decentralized EUR USD cryptocurrency for example), or the creation of a new cryptocurrency with a better technology which is less costly to run and which get wide adoption quickly (Trump coin hit $15B in market cap in a day. BTC could be replaced in a matter of months with the right market signals (hype, support from various influential personalities/countries etc).

I trust you'll answer all that yourself if you invest 100 hours to studying bitcoin - I'd start with the links above - it's worth every minute

 

[cherry]

Correct. BTC is the hardest money known to man.

You misspelled gold. And BTC got already technologically surpassed in the first few years. The whole premise of BTC being "hard money" or "digital gold" doesn't take into account that technology advances very fast and evolves equally fast. BTC already looks like a bow and arrow compared to other cryptos. If you don't agree now, how do you think technology will look in 100 years?

 

[thomasparra]

I trust you'll answer all that yourself if you invest 100 hours to studying bitcoin - I'd start with the links above - it's worth every minute

Thank you. I will check all of this out

 

[W Fish]

Here is a more recent one from Saylor:

This is fun to watch.
And of course Saifedean. The Bitcoin standard is a classic.

 

[369]

Best currency traders in the world are from china and japan and they are not buying btc but gold.
Also BTC will high probably hit somewhere arround 130k and latest end of march start its crash towards 22-25k

 

[TheCryptoAnt]

Homeboi above me never fails to deliver ah lol

 

[void]

BTC will high probably hit somewhere arround 130k and latest end of march start its crash towards 22-25k

I asked the same already in this or another thread, so why not again... would you be so kind and share the reasoning behind this highly probable scenario, what exactly should happen to make this outcome possible?

 

[JackAlabama]

Would you mind pointing me to respectable sources so I can read more about BTC, its technology, and key factors for future adoption?

the bitcoin standard by ammous.
https://www.amazon.com/Bitcoin-Standard-Decentralized-Alternative-Central/dp/1119473861

I understand that BTC has a fixed supply but even assuming no internal risk (e.g. technical vulnerabilities/hacks, ownership monopolies), I would like to assess the external risks as well (e.g. single government or governmental coalition creating a new cryptocurrency (US + EU creating a decentralized EUR USD cryptocurrency for example), or the creation of a new cryptocurrency with a better technology which is less costly to run and which get wide adoption quickly (Trump coin hit $15B in market cap in a day. BTC could be replaced in a matter of months with the right market signals (hype, support from various influential personalities/countries etc).

if this would be the case, why did it not happen in 16 years and counting? Lindy effect at play here as S curve model of adoption.
Also liquidity is becoming more fragmented outside bitcoin. So less likely for anything new to succeed.

We have by now a gazillion of these new shiny fast super hyper tangle hyperloop unlimited transaction staking blockchain projects. None of it delivers anything significant.
We are left with stablecoins (and generating yield from them, aka lending/borrowing), gambling and Bitcoin.

 

[JackAlabama]

You misspelled gold. And BTC got already technologically surpassed in the first few years. The whole premise of BTC being "hard money" or "digital gold" doesn't take into account that technology advances very fast and evolves equally fast. BTC already looks like a bow and arrow compared to other cryptos. If you don't agree now, how do you think technology will look in 100 years?

Can you name a few of these superior tech projects your implying here?

new shiny tech is moot as its not a predictor of successful adoption by any means.
Theres countless example in adoption history having inferior tech winning.

A truly decentralized currency can only be invented once, and it has been done in the form of bitcoin.
No other project can ever replicate this decentralized organic slow growth ever, no matter what is being claimed. It would be instantly killed, coopted etc.
Its like with the wheel, it can only be invented one time only.

Next future form of money might be coming way later down the road maybe 100s of years after our time, when humans are an interplanetary species etc.

 

[intlman]

the bitcoin standard by ammous.
https://www.amazon.com/Bitcoin-Standard-Decentralized-Alternative-Central/dp/1119473861

I second this. Great book. Also "Broken Money", by Lyn Alden is a worthwhile read too.

We have by now a gazillion of these new shiny fast super hyper tangle hyperloop unlimited transaction staking blockchain projects. None of it delivers anything significant.
We are left with stablecoins (and generating yield from them, aka lending/borrowing), gambling and Bitcoin.

Bingo. This is a great example of "second-system syndrome" (https://en.wikipedia.org/wiki/Second-system_effect).

 

[W Fish]

Best currency traders in the world are from china and japan and they are not buying btc but gold.
Also BTC will high probably hit somewhere arround 130k and latest end of march start its crash towards 22-25k

Price of gold in BTC.

 

[Dreamy]

Best currency traders in the world are from china and japan and they are not buying btc but gold.
Also BTC will high probably hit somewhere arround 130k and latest end of march start its crash towards 22-25k

Interesting... so you think till March it will go to 130k? Not a lot of time left

 

[Houdini]

Best currency traders in the world are from china and japan and they are not buying btc but gold.
Also BTC will high probably hit somewhere arround 130k and latest end of march start its crash towards 22-25k

I’ll hold you to that! Let’s see if you’re as good at predicting BTC’s future price as TheCryptoAnt, or if you’re just guessing.

You’re calling for a peak of 130K for BTC, followed by a crash all the way down to 25K, deal!

 

[369]

I asked the same already in this or another thread, so why not again... would you be so kind and share the reasoning behind this highly probable scenario, what exactly should happen to make this outcome possible?

So we are entering into a debt crisis.
As you can see Trump already is implementing import tax and starts battling economicly with everyone.
In a debt crisis at the beginning USD gets very strong for a short period of time since nearly noone is able to take new debt and existing marging needs to be delivered expacially in a higher inflation scenario where interest goes higher instead of down.First divergance in history of USD already happened that FED cut interest rates by 100 points and the 10 year went up by 100 points meaning they are already predicting high rising interrest rates.

The date end of march comes from a fibonacci ciricle chart which delivers timeframes.
End of march is the latest date of a specific fibonacci circle which ALWAYS causes a heavy drop based on past history.
Of course if its going to be caused by debt crisis or a new war in middle east thats something i can't predict however i can tell there are bigger movements ahead and the debt crisis is more and more obvious but does not need to be the offical trigger to start the sell off.
Also billionaires would not hold so much USD cash in a high inflationary envirement when not beliving that there will be a big shortage of liquidity where cash will be king.