It is clear to those of us who have followed Saylor that he will continue to buy. Now, let's imagine that the price goes way down, that it drops below $20K or even lower. Maybe he would start to rethink his strategy, just as many of us on the forum would rethink many things. For the moment, I think everything will remain the same, even if the price drops to $20K, or even if we are all year sideways between $25K-40K, he will continue with his strategy.
But as I was saying, in the unlikely event that we were to go below the $20k price (the ath of the previous cycle), I think he would start to get nervous and so would many on the forum.
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I think that lovesmayfamilis cannot be trusted
If so, you should exclude him from your trust list. More info here: LoyceV's Beginners guide to correct use of the Trust system.I have seen that you have not used it (the custom trust list), just as you have not left feedbacks, and even so, there are two people who distrust you.
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But why so much effort? Why?
It is entertainment. Like the one who does crossword puzzles, or in this case more like the one who creates them. I like what he has done.
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LOL. It's Merkle, not Merkel. At first glance I thought it was the former Chancellor of Germany buying mining equipment and I was like WTF?
Going to the news, I think this should be generalized. Many anti-bitcoin voices are hiding behind the energy expense to ban mining favoring PoS. This could be an excuse, as governments know they can control PoS but not PoW. But the fact is that if more and more mining is increasingly sustainable, this argument is dismantled.
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Hi. Welcome to the forum! You can tells us personal details about yourself if you want but I don't recommend you giving more than you have already given us. It's okay but if you have Bitcoin and other cryptos, now or in the future, scammers may notice you and think about hacking your computer or physically robbing you. On the other hand, I would start by reading the rules: Unofficial list of (official) Bitcointalk.org rules, guidelines, FAQMake good use of the forum to learn and share knowledge and, above all, don't cheat.
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I am one of what you call retail users, if I understand it right. The current situation of the market is indeed painful but only from the point of view of the Bitcoin that I acquired when the price was higher. But it is a blessing from the point of view of the Bitcoin that I have yet to acquire in the following days.
We are also retail users and i have not sold in panic.
You haven't, but majority will be in panic upon the sudden crash of the market. Many of us in the forum are retail users but the point here is if the majority or a significant percentage of retail users have sold. And I believe they have. The retail users of the forum are quite different from the typical retail user who buys ATH because he thinks it will not stop going up until it reaches $1M and sells at the first dip out of FUD.
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Gone are the days when people bought BTC at $100 or mined 50BTC blocks with their GPUs. So Bitcoin won’t make you rich anymore
I would say that's only half true. Bitcoin is still good for getting rich if you have patience and a long term plan. Or better said, to improve your economic situation. Getting rich will depend on how we define it, your starting situation, monthly/annual investment and time. Bitcoin it's not good for is hitting the big bucks in a short time. That has gone to the alts. Imagine buying doge at 1 penny and selling at 70 cents a few months later.
Yeah but imagine buying any shitcoin at x price and selling at a loss some months after, which is what usually happens. Or maybe even being unable to sell it. For every one who hits the jackpot there are more than 90 who lose, and more with the thousands of shitcoin out there.
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I think this will have to be considered. Especially if we don't break $70K in this cycle, which would be only 3.5x the ath of the previous cycle. Call me pessimistic if you want, but being as we are, with institutional adoption, starting state adoption in some cases, Bitcoins leaving the exchanges for a long time, hashrate at maximums, everyone with bullish predictions for last year, even former Bitcoin haters reconverted, etc. etc. etc. etc. etc. What is clear is that it is easier for something worth $0.01 to become worth $1 than for something worth $10K to become worth $1M. Thus, maybe the most we can expect for future cycles is a tripling of the previous ath. Maybe quadruple in some given cycle. But not to multiply the previous ath by 20 or more. On a personal level, nothing changes for me. I have been doing DCA for years with the S&P 500 and I've been through similar bumps, if the price goes down, you keep buying and forget about it, just like if it goes up a lot. So I will continue to do the same both with the S&P and Bitcoin. What I do think needs to be considered, especially if the price does not recover this year, are more realistic return forecasts for the future. Edit: update from June 19, 2022 after Bitcoin price broke down to $18K.
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Very nice story, but from the picture you paint, and assuming it's true what you say, I'm afraid it's going to end up with your brother selling the Bitcoin when it converts to a half-decent amount. I've seen it happen before. People want to invest but don't have a lot of money, and end up selling at the drop of a hat. In this case he has not invested, it's rather you who have given him the investment, but having that money there untouched if he does not have much money, in the long term, I do not see it, and even less if he gets fired from his job, has a financial contingency, etc.
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Rather than news, I would call it a rumor. And, in fact, if you look at the headline, it only talks about considering and it does so in a question. It's the only source that talks about it (other than reddit, which uses that same source). There have been so many rumors on the subject, that without more data or more sources there is little chance of it being true.
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So did some of you suffer the same fate as me?
In my case, I seem to get merits in waves: I can get like 30 in a couple of days and then be 4-5 without earning any or earning very few, but I wouldn't call it fate. In your case, it is something that has a rational explanation as we have already seen: the boards you post on and The Pharmacist factor. If you care so much about it, apart from the option of applying for a merit source, as you have been recommended, you can also try posting on other boards.
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In other words, it will take some time for the market to get better.
This may change and it may not be so long for reversion to start. The price is around $34k and pushing to $30k support and strongly hodling at $35k. On a longer time frame, it is looking like a change is possible to happen anytime soon before the second quarter beginning. This year may still look positive at the end. It may or may not. I don't know what will happen at the end of the year but I doubt very much that the next few months will be bullish and we will beat last year's ath of over $70K. With the FED withdrawing stimulus, and Russia and the EU considering banning mining, it is normal that we will have a few months with low price. Surely we will recover a little from the recent fall but I do not see spectacular rises, unless we have news like Amazon accepting Bitcoin or something like that but I see unlikely news like this in this environment.
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It is not unusual that in this forum, which is called Bitcointalk for a reason, we prefer Bitcoin to Ethereum. If you get to ask in the alts section, you would surely have more answers preferring Eth. What I would recommend is that you acquire information on both and make an informed decision as to why you prefer one over the other. It is better than buying one because you simply think it will go higher or you have been told in a forum. I was thinking about long term. Thanks for response.
Have you thought about adding more to your initial investment? Many of us on the forum do DCA. You can invest a lump sum at the start but then add x money weekly or monthly. That way you cushion the ups and downs in price.
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Buy the dip of course, but also constantly buy at regular intervals for as long as you have an income. Take a look at this calculator and see what would have happened if you had DCA for the last 5 years. https://dcabtc.com/Good link and thanks for this, book mark already. And the bloodbath continue though, yesterday it went as low as $38k and now even lower at $36k and almost -50% of the last all time high and we don't know where it will stop. But as you have said, take this as an opportunity to accumulate throughout the years and see how it goes. For sure there is a net positive for just buying and then holding precious BTC as the supply is really dwindling in the next 2-3 years. Yes, but past performance does not guarantee future performance. I do DCA and I don't care if there is war in Ukraine, Russia bans cryptocurrencies or we just broke ATH. I continue to ride along. But we cannot trust that the returns that Bitcoin had in the first cycles will continue indefinitely. To the extent that an asset increases in price and market cap, it is more difficult for it to continue to have spectacular returns. I would like to see us reach $400K this cycle, but given what we have seen, it looks like it will be difficult.
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As much as he has a long term view, at some point he may get anxious. I don't think the current price is going to change Saylor's plans, if anything he is thinking about how to finance the next purchase, but now let's assume the price in a few months goes below $20K, which would never have happened in previous cycles (going below the previous ATH), but which is not impossible to happen. I think he would be a little nervous.
Saylor has turned his company into a derivative product of Bitcoin, and nervousness in the markets translates into considerable price declines I think something will affect his mood, even if he has a long term vision.
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I watched the video and while it's generally good advice, I'm surprised that he only mentions Bitcoin in passing at the end, as it has been the best inflation hedge since its inception. Plus it's much easier and more convenient to buy and trade than RE, and you don't depend on a bank approving a mortgage.
I liked the Rolex example at the end. I just thought it was a gimmick, but the point of view that it is a hedge against inflation and you can take it anywhere in the world (as it doesn't count against the cash limits you can take with you when traveling) is interesting.
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I think the best advice in the thread was given to you by FatFork, but I'm not sure you understood it: Fatfork: yeah, I'm planning on doing all that. But right now money is getting tighter, so to spend all day staring at the ceiling is just not a good option for me.
I'm kinda hyper, people say I live in a constant sugar rush, so this is also a way to release some steam. I just don't want to get scammed...
You seem to write well. If you have time to go to Starbucks and play faucets with their free connection, as well as to write posts in this thread, you could use that time and energy to write for a signature campaign. That doesn't mean staring at the ceiling, I don't know where you get that from. You are still a member but from full member I think you can easily make $30-40 a week. Take advantage of the time you are going to Starbucks to write in the forum use faucets temporarily, as you have been told, in many cases you will not be able to pay even the fees with those amounts. However if you work on your Bitcointalk account you can earn good money. I earn $100-125 a week with my signature campaign... What would yo do with that money? Couldn't you live with that? Think long term.
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In reality it is the other way around. What has made Bitcoin valuable is that it is a decentralized, autonomous, permissionless alternative to fiat money. CBDCs are a digital version of fiat money, and in that sense they can perhaps give more legitimacy to Bitcoin and cryptocurrencies, as has been pointed out, by normalizing the use of digital currencies. But as CBDCs are going to continue to be the same shit as FIAT, Bitcoin in the long run will continue to appreciate in value, and a lot, making the opposite path to fiat currencies, whose value tends to 0.
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I am quite bearish for this year. Last year's predictions failed, all of them, and we have a mediocre price at this point with no specific negative news on Bitcoin. The only thing that I think is now influencing the price down is the Fed's plans, but if we wake up one day to news like the miners in China last year we are going to see what a dip really is.
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No wonder their rank is still newbie, their post history is crap. I wonder wether they are bots as lovesmayfamilis says. I have always felt that those bounty reports should have been done off-forum... Either on a dedicated site that was built for nothing but handling those bounty users, or maybe even in a google spreadsheet document directly.
I think they add nothing to the forum, nobody is interested in those reports, nobody is learning from them, nothing is being discussed,... it's just baseless dribble that's basically pre-formatted to be fed to a data-entry drone.
I think the same, what value do these post histories bring to the forum? I think nothing, I think that if the bounty sections of the forum are kept it is because Theymos considers that it would be worse if they were migrated to another forum. Does the forum earn any revenue with the bounties?
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