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Bitcoin crash coming (3 Viewers)

Bill_Man618 said:
And back!!!

Calling a crash like we had in 2017. By end of 2021 BTC will be under 10k calling it now.
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Cool strory bro
Or more like 100K

You havent done much research on the halving cycle prices and historical data have you......

Tell you what, put in 25K then and sell short.
Ive done 3x my money this year alone on all the ETH I loaded up and ETH will be over $1K again soon too
 
Bill_Man618 said:
Yeah if it goes below 10k I'm jumping in so i can ride the next wave to riches. From what I understand this rally is being fueled by hopes that BTC will go mainstream. However, I think that idea is a loooooooong way from reality. In order for BTC to become commonplace in society it needs to be less volatile and that's not going to happen for a long time imho.
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Btc being added to paypal, coinbase ipo'ing, eth CME futures, crypto has only been on an upward trajectory.

And yeah it isn't going to stop being volitile until the market cap is like 10x current, but volatility is appealing if you are here for a good time ;)
 
L3urntout said:
Btc being added to paypal, coinbase ipo'ing, eth CME futures, crypto has only been on an upward trajectory.

And yeah it isn't going to stop being volitile until the market cap is like 10x current, but volatility is appealing if you are here for a good time ;)
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You like gamble? I sure do!!!
 
I wish you all well, but if I was betting I would bet we see 14500 by April rather than 30-35000. Securities don't chart like that without having a sharp correction to previous base points. I would never short it though, so it's just a guess.
 
joker80 said:
I wish you all well, but if I was betting I would bet we see 14500 by April rather than 30-35000. Securities don't chart like that without having a sharp correction to previous base points. I would never short it though, so it's just a guess.
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I actually agree in that we could see 14kish, pretty much the real Kickstart to the most recent trend, just don't believe it will see 4 digits again
 
L3urntout said:
I actually agree in that we could see 14kish, pretty much the real Kickstart to the most recent trend, just don't believe it will see 4 digits again
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15k totally plausible correction before it goes off like a rocketship past 50K. Its eventually coming.
Billions of big player money like paypal is coming in this year. Only more people will want a slice for their funds
 
HaRDHouSeiNC said:
15k totally plausible correction before it goes off like a rocketship past 50K. Its eventually coming.
Billions of big player money like paypal is coming in this year. Only more people will want a slice for their funds
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Ya i maxed 14/15 praying that might be the stable point. Was shocked PayPal only sells 20k a week. I actually went in for more.
 
I was chatting to a hedge fund manager buddy of mine last weekend. He's been buying bitcoin. Apparently institutional investors are starting to buy crypto as part of their portfolios - he thinks that when they start plugging money in, the prices will skyrocket.
 
HaRDHouSeiNC said:
View attachment 596276

Cool strory bro
Or more like 100K

You havent done much research on the halving cycle prices and historical data have you......

Tell you what, put in 25K then and sell short.
Ive done 3x my money this year alone on all the ETH I loaded up and ETH will be over $1K again soon too
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Can you explain to me where the value is coming from? If I buy BTC what do I own Obviously I own BTC, but if I buy AAPL I own a small part of a company so what makes BTC go up or down? Where is the value of BTC or ETH derived from? All the big players in the world can put money into BTC and ETH, but if the market for it goes up or down just by .01 percent a day then it won’t be widely adopted because it will still be to volotaile. If it is going to become what it aimed to become it will have to stabilize to the levels that regulated currencies are at. Everyone thinks that BTC will keep going up to the moon and yada yada, but there is nothing keeping the value in it so I think it’s gonna crash. People said the same thing in ‘08 about the housing market when it was going up, up, up, and people were buying homes they couldn’t afford. People lost their ass then with the same mindset. Same thing happened with the .com bubble where people bought companies that had no revenue and lost their ass because the market kept going up.
 
U
Bill_Man618 said:
Can you explain to me where the value is coming from? If I buy BTC what do I own? All the big players in the world can put money into BTC and ETH, but if the market for it goes up or down just by .01 percent a day then it won’t be widely adopted because it will still be to volotaile. If it is going to become what it aimed to become it will have to stabilize to the levels that regulated currencies are at. Everyone thinks that BTC will keep going up to the moon and yada yada, but there is nothing keeping the value in it so I think it’s gonna crash. People said the same thing in ‘08 about the housing market when it was going up, up, up, and people were buying homes they couldn’t afford. People lost their ass then with the same mindset. Same thing happened with the .com bubble where people bought companies that had no revenue and lost their ass because the market kept going up.
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Utility and inflation
Govts and the fed
Ever seen the Zimbabwe hyper inflation crisis crash
Or the Greece crash that wiped out people’s life savings?

Civil asset forfeiture
It’s hard to express 10 years of experience with crypto in a typed post

watch Andreas Antonopolis on YT
Like all his speeches
 
BTC is more mainstream than ever, but it’s been a while since I’ve heard of a massive scam/swindle like Mt Gox. That type of thing will not go over well with the mainstream the next time it happens.

Disclaimer: I don’t know what I’m talking about, just an outsider looking in
 
cpiaaq said:
BTC is more mainstream than ever, but it’s been a while since I’ve heard of a massive scam/swindle like Mt Gox. That type of thing will not go over well with the mainstream the next time it happens.

Disclaimer: I don’t know what I’m talking about, just an outsider looking in
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With the regulations now I’d doubt it happens
Even Binance has been hacked within two years
Not gonna shudder anything without a complete failure of the blockchain which the community would not let
It might get attacked but they would rebuild it in days

Gox was Wild West times
Tons of regulations and compliance

NEXT of the naysayers ????
 
HaRDHouSeiNC said:
U

Utility and inflation
Govts and the fed
Ever seen the Zimbabwe hyper inflation crisis crash
Or the Greece crash that wiped out people’s life savings?

Civil asset forfeiture
It’s hard to express 10 years of experience with crypto in a typed post

watch Andreas Antonopolis on YT
Like all his speeches
Click to expand...
I haven’t watched the Andreas guy yet so maybe he answers all my questions, but you still didn’t answer the main questions and concerns I had with crypto. Also, I fail to see how the government and the fed, which regulate, would have any relevancy in the price of a currency who’s main appeal is that it isn’t regulated. Unless you’re point there is that while the government is propping up the economy and keeping interest rates low then BTC will rise. You also kinda proved my point in a way by referencing both the Zimbabwe and Greece hyperinflation crisis. When those events happened the people who lived in those countries found thier paper currency worth more in the morning than it was by nighttime. The inverse is happening with BTC right now, however, the same exact thing happened in 2017 with the crash. Addressing your other points, regarding civil assets forfeiture, I am confused as to how the governments ability to seize assets from me that they believe were used in a crime are relevant to the value BTC. The only point I can see being made with this is that BTC has value to criminals since it can’t be or is difficult to seize, however, as a counter to that I argue that if that is BTC’s main value then the it is massively overvalued since the main point of its current valuation is the belief that it will become mainstream. Being a nice currency used for criminal activity is a far cry from mainstream. Finally if you did get into crypto 10 years ago like you say then props man you’re prolly not going to lose money on this venture. However, being as bullish as you are on this is like I said in a previous post what got people in trouble in the past. There have been some big companies that expired worthless overnight that people thought would keep going up.
 
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Bill_Man618 said:
I haven’t watched the Andreas guy yet so maybe he answers all my questions, but you still didn’t answer the main questions and concerns I had with crypto. Also, I fail to see how the government and the fed, which regulate, would have any relevancy in the price of a currency who’s main appeal is that it isn’t regulated. Unless you’re point there is that while the government is propping up the economy and keeping interest rates low then BTC will rise. You also kinda proved my point in a way by referencing both the Zimbabwe and Greece hyperinflation crisis. When those events happened the people who lived in those countries found thier paper currency worth more in the morning than it was by nighttime. The inverse is happening with BTC right now, however, the same exact thing happened in 2017 with the crash. Addressing your other points, regarding civil assets forfeiture, I am confused as to how the governments ability to seize assets from me that they believe were used in a crime are relevant to the value BTC. The only point I can see being made with this is that BTC has value to criminals since it can’t be or is difficult to seize, however, as a counter to that I argue that if that is BTC’s main value then the it is massively overvalued since the main point of its current valuation is the belief that it will become mainstream. Being a nice currency used for criminal activity is a far cry from mainstream. Finally if you did get into crypto 10 years ago like you say then props man you’re prolly not going to lose money on this venture. However, being as bullish as you are on this is like I said in a previous post what got people in trouble in the past. There have been some big companies that expired worthless overnight that people thought would keep going up.
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ummmm TLDR
Ive been following crypto for like 10+ years and IDK any faster way to send money and bank the unbanked.
I have like 4K into crypto out of pocket.
My portfolio is over 150K today
I stand behind crypto over the dollar and any fiat 10 years from now as well as gold.
My portfolio is everything
Gold
realestate
Stocks
Crypto - best earner thus far.
Its been a bubble like 10 million times now since it hit 100 and 1000 and crashed to worthless

Ill bet 1 BTC that in 3 years the price is above 25K, WAAAAAY above
Anyone else own 1 BTC who wants to bet that?
 
@Bill_Man618 asks a fundamental question - why is a crypto "coin" worth anything? There are no underlaying assets. The potential for a massive fraud is obvious. The only value is in the eye of the beholder. But . . .

We can ask the same question about lots of valuable < and not so valuable > stuff. Why is a gold coin worth so much more than an identical steel coin? Why is a hundred dollar bill worth something while a hundred dollars in monopoly money worthless? Why is an acre of rural land in my county worth 100x more than an almost identical acre in far west Texas?

The fundamental rule is a thing is worth what a willing buyer pays for it. Utility is in the eye of the buyer. Buying stuff that has some underlaying asset value or income stream is generally safer than having nothing but "hope and a prayer". But remember safety some with a cost. You will not make a fortune from nothing playing it safe.

If someone is willing to pay $23,000 for a bitcoin today and someone is willing to sell at that price, then that is what is is worth at the moment. Is it a good deal? Is this a sucker getting fleeced? And which was the sucker - the buyer or seller? Is this just the start of a great new thing? Or is it the modern version of a fool's errand? Well, we don't know just yet.

I can read some of the drivel posing as "investment advice" in this thread. Anyone taking said advice is an idiot if they invest their money based on it. Some folks don't appear know the meaning of the words they use. Listening to a podcast doesn't make someone a capable financial advisor.

Do your own homework. There are some sound reasons to be involved with crypto coins. There are sound reasons to treat it as a scam or a fad. Maybe this is suitable for a thin slice of your portfolio. The risk/reward is sky high - it surely isn't suitable for many people.

Be careful out there -=- DrStrange
 
@DrStrange I'm going to have to call you out on how you can slot 98% good advice in a post while posting erroneous information on the following in this thread.

1. How bitcoin fundamentally works, like to an egregious amount
2. IRS/SEC treatment of crypto as commodities
3. Usage of 1099-ks on crypto-exchanges
4. How transaction history is analyzed and the relative cost.

But the gist is correct is that yes, value is assigned to the buyer, and thus the only reason to buy is that the acquired utility will be greater than alternatives. Ironically the literal common complaint of volatility is only solved by 0 liquidity or the price going parabolic.

@Bill_Man618 Usd fluctuates and only down nearly .1% compared to your goods/services (3.7% at that rate so more like .08). But my point stands, that is far from the actual truth and again, the positives and negatives are cyclical in that as price goes up, volatility decreases. A lot harder to move the market as the marketcap increases.
 
@Bill_Man618 the main value is in the transparency of its creation and distribution and the true ownership of an asset with digital properties.

It is really that simple. It combines both properties of when currency was first created in when we decided to abstract value of goods into a simpler system to better enable trade, and then the evolution of coins to paper and now paper to digital. Now we have removed a central authority's ability to debase all outstanding currency beyond what is socially agreed upon, and allowed an individual to maintain true ownership over a digital asset in a format which the only real risk is maintained by the individual.

If you disagree that these are beneficial, then no point in buying, if you do then it is a question of how much value can be absorbed and over what time period.
 
Just commenting to follow the chatter :p

Been involved with bitcoin since 2012, unfortunately never got to accumulate anything super significant since I was in only high school/college but I'm finally starting to accumulate and HODL as much as I can.

I've been involved with mining eth for a short while, I have a friend who owns a miner-hosting facility and I don't want to preach BTC to those who don't want to believe in it, but I can tell you that it's not some magical made-up monopoly money. (tongue twister? :D)

The money spent and continuing to be spent on mining equipment and transactions being confirmed 24/7/365 is where I believe the value comes from. Sure, supply and demand rules supreme and bubbles can absolutely form. But in the long run if the hash rate continues in increase then money is being funneled into bitcoin and there is less and less of it being produced. Deflation is everything.
 
wuffle said:
I'll gladly pay anyone in USDC or USDT instead of paypal too! Skip the 4.5% fees that I have to pay
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Same and we won’t have someone who barely speaks English monitoring us and our daily habits from some foreign country. Did U know in PayPal u Can’t put “pcf” in the memo to buy chips? Ya apparently it’s a terroir code with hidden secret messages.

Friends and family buy bitcoin now, just don’t buy more then u can afford to lose. No stress.
 
SpaceMonkey420 said:
Same and we won’t have someone who barely speaks English monitoring us and our daily habits from some foreign country. Did U know in PayPal u Can’t put “pcf” in the memo to buy chips? Ya apparently it’s a terroir code with hidden secret messages.

Friends and family buy bitcoin now, just don’t buy more then u can afford to lose. No stress.
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Buy and hodl with a 5 year horizon will be good
 
I bought some at the peak three(?) years ago, but instead of hodling BTC, I started exchanging it for some other coins that were somewhat hyped at the time. NEO, IOTA, and some others. Can't even remember the names, lol, but have it written down of course. Once it all tanked back then I just said f it and forgot about it. Went to check on it the other day, and let me tell you I should have definitely kept it in BTC. Lol, even with BTC now being in all time high and then some, my shitty alts are still worth next to nothing... Hard luck :ROFL: :ROFLMAO:

Thought I might now get back my %95 loss from back then, but seems it's still worthless.
 
Marius L said:
I bought some at the peak three(?) years ago, but instead of hodling BTC, I started exchanging it for some other coins that were somewhat hyped at the time. NEO, IOTA, and some others. Can't even remember the names, lol, but have it written down of course. Once it all tanked back then I just said f it and forgot about it. Went to check on it the other day, and let me tell you I should have definitely kept it in BTC. Lol, even with BTC now being in all time high and then some, my shitty alts are still worth next to nothing... Hard luck :ROFL: :ROFLMAO:

Thought I might now get back my %95 loss from back then, but seems it's still worthless.
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We all have our bags lol, mine are designer bags ok?
 
L3urntout said:
We all have our bags lol, mine are designer bags ok?
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I stuck with the stuff that is still below the ATH but I boght more ETH at $120 so I did OK
ETH ATH should return this year

Stick with
ETH
XRP - gamble I think
BNB - Solid, binance will be around forever
BCash and Cardano - gamble speculation Ill wait a bit to see, I like ADA
Some others are all speculation I think

BTC
ETH
BNB

my top three
 

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