Frozenbeernuts
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Everything posted by Frozenbeernuts
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We use the definition for inflation interchangeably. Inflation of the currency happens when new units are created out of thin air. Then price inflation happens after those units enter the market. The same thing happens to different things seen as an investment. It's not just bitcoin. But if you think that dollars continually being printed isn't going to continue to devalue the currency vs bitcoin, then just don't buy the asset and gloat when bitcoin goes to zero.
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Has anyone opened their third eye here?
Frozenbeernuts replied to Frozenbeernuts's topic in The Geek Club
It's not though. I love how Christians handle these kinds of conversations. -
If you are a male that dates a biological man, are you gay?
Frozenbeernuts replied to edjr's topic in The Geek Club
The young men coming up in today's world are going to have to her down there and do some serious inspecting if they don't want to get tricked one day. -
I will add one thing that you aren't accounting for. It gets over looked. Bitcoin has a capped supply. Don't start on how that can change, because they tried changing the code multiple times with hard forks and those coins are trending toward 0. Bitcoin is the most scarce asset there is. The block reward gets cut in half every 4 years. 93% of the supply that will ever exist has already been mined. Plus there is a group of hard core bitcoiners who will not sell. They will use the money p2p and say screw everyone else who doesn't want to take part in the network. Those factors are what really set bitcoin apart. It's a totally new thing that you cannot compare to traditional assets. It has new variables you cannot account for. Does that guarantee the price will go up? Not at all, but the price of missing out is pretty large. Will you be fine if you don't invest? I believe you will, but the wealthiest people in the world are still always looking for a way to grow their money. There's a reaosn for that, and there is nothing that can produce the returns bitcoin can. This is mostly conjecture on my part. I know none of this will change your mind. Just remember the convo in a few years. Also, it's never too late to invest. You are thinking of holding onto dollars that can and will be produced infinitely.
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It's the average return for every year. Amazon average return over 26 years is around 70%. Bitcoin average return per year is well over 100%. That's fine. You're right. Just do yourself a favor and don't look at the bitcoin price these next few years.
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Oh shlt that's brutal. Yeah hopefully it doesn't. I don't think it will be under that by the end of the month unfortunately.
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I separate bitcoin from all other crypto because there is definitely a difference. If buying bitcoin is gambling then so is all investing, including gold. What's wrong with not having the government know what I spend my money on? Though bitcoin is only anonymous with non kyc bitcoin Bitcoin has never been hacked. If bitcoin can be hacked then all encryption is in danger. Volatility isn't bad when it's volatile to the upside. Unless you are really old or really poor, bitcoins volatility is a good thing. The average return every single year only bitcoin is over 100%. If you are making an average of over 100%/year on an asset, how is volatility a bad thing? Yes, payments are irreversible, but that's the price you pay for not letting a bank, who actually owns the rights to your money, tell you what you can or can't spend your money on.
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Do you get less bitcoin if it goes above that amount?
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When is that date?
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That's a lot of up in one day. Bitcoin's one day return is a good year for standard and poor
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Holy sh*t definitely don't look at the price now if you don't have bitcoin
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I think that you fail to realize how limited the supply of bitcoin is. The ETFs haven't even bought bitcoin yet. Their inflows are still 0. How is the price not going to move up when millions, possibly billions flow in? Maybe the price dips after they are approved. It will be a very short lived dip. Ath before the halving is more likely than any prolonged or significant dip. I hope you are being a contrarian just so you can look smart in the rare chance you are right, rather than using flawed logic to make a definitive stance like this
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Whatever you do, if you don't own any bitcoin, don't look at any price action today or over the next two years. It's going to be a very tough pill to swallow. Ignorance is your friend here. Looking will only produce anger and resentment.
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Wall Street is telegraphing their move here like no other time in history. People are so skittish. Many people will look back in history and wonder why more people didn't front run this move from Wall Street.
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Bitcoin is up 3% today alone. It's up 170% about in the last year. Nothing moves upward like bitcoin does. Why would someone not have at least some exposure to the best performing asset? I saw someone post on Twitter that they were good on wealth, they didn't need bitcoin exposure. That makes no sense at all.
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I see a lot of sentiment both ways. I lean on the limited supply and the millions to billions that are going to come in. I saw a tweet stating existing funds are amending their rules to allow exposure to these etfs Bitcoin has been and will continue to be the best performing asset. Wall Street played a part in slowing down last cycle's run. Not because they want to kill it, but because they want a piece of the pie. It makes sense to me that institutional investors are going to finally feel more secure putting money in, and who doesn't want exposure to the best asset?
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Aaaaaand we're back above $45k. Every drop in bitcoin's usd pairing is temporary. One asset had a fixed supply, the other has an infinite supply. It's very simple supply and demand numbers here. The ETF approval is looking like a go, but it's not a done deal yet. The ETF allows wall street and the government to capture a large portion of bitcoin. It's sad to see, but I will never buy a claim on the bitcoin. I will only ever purchase the real thing. Some speculate an ETF approval and or ETF launch will be a sell the news event. Maybe it will be in the very short term. I doubt it because of the severely limited supply, but if it does drop, it will turn around pretty quickly. I think some of you are really underestimating the effect of the ETF on the price.
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I agree that the government is not going to allow this without a fight. They are already cracking down on p2p with the new law that requires full kyc for txs larger than $10k. Basically need to have identity completely unlinked to bitcoin. Buying non kyc bitcoin is so valuable. I haven't, but I should work on it.
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Bitcoin will go up forever against the dollar until it dies. The dollar will die one day. Fiat currencies cannot last forever. They get debased to a point where people no longer trust the currency. When that happens though, I have no idea. In simple terms, finite bitcoin, infinite dollar. Therefor bitcoin, as long as it still works, will go up forever against fiat. I only plan on selling if I need to purchase something significant for me and my family.
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It bounced back. Short term price drops don't affect me. If anything it just makes the bitcoin for that week cheaper if I'm buying some. These little 5% dips will be laugable when bitcoin is in the multiple hundreds of thousands of dollars. I don't know why anyone would seriously trade. A little here and there I get, but buy and hold out performs trading almost every time.
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Jim Cramer just capitulated. He even admitted Charlie Munger was blind to bitcoin. Which means he's admitting Warren Buffet is wrong about it also. This is a big shift considering how anti bitcoin he has been. Yes Jim Cramer is still a fool
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It sounds like existing funds are adjusting their rules to allow investment into bitcoin etfs.
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Agreed completely. I would never buy an etf. When the dollar is worthless, having shares in an etf is not going to matter. Having the real thing is going to matter. Etfs still give corporations a more clear investment vehicle. Michael Saylor has pulled it off, but from what I have read he is in a bit of a special position to do so. These etf applicants are listing their seed amounts. That's just to get the funding started. Who knows how much will flow in from the outside. These etfs need to match the dollars with bitcoin 1:1
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