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Question: Which price is bitcoin going to reach first? (credits to Jay)
$25K - 56 (34.1%)
$50K - 108 (65.9%)
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Author Topic: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion  (Read 25377220 times)
This is a self-moderated topic. If you do not want to be moderated by the person who started this topic, create a new topic. (157 posts by 13 users deleted.)
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April 12, 2021, 08:36:02 PM
Merited by xhomerx10 (1), serveria.com (1)

Not a financial advice

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Until your wife finds out.
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April 12, 2021, 08:43:31 PM
Merited by El duderino_ (7), serveria.com (1)

Not a financial advice

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Until your wife finds out.

 I'm out of merit but that is damn funny!  Cheesy
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April 12, 2021, 09:39:56 PM
Last edit: April 12, 2021, 10:29:09 PM by WhyFhy

OK.. just to talk about Bitcoin for a moment... Wink

Considering Bitcoin use on the rise in African culture...  who are our Africans here?  Does anyone have data on this?  What I want to know is whether the idea is true that Africans are using BTC for trade via trusted second layers currently.  Exchanges for example.  That they are NOT trading into a lower fee crypto to trade in.  (BCH, LTC, DOGE for example).  I am asking how much Africans are choosing to stay in BTC rather than trade in the cheaper less liquid ALTS.

Are we seeing  Gresham's or Their's law playing out there?

From my reading I understand they are really staying focused on BTC, and just avoiding fees by exchanging off chain... and if that is true I honestly think this is one of the MOST important things happening with BTC from a evolution standpoint.


+1 WOsMerits

Exchanging off chain... how? The mother of invention... They might actually be onto something. It could be a web of trust backed by guns (fuck with me and Nigerian mafia will get your ass). I think we'll be the first to get more details, if it's really a thing. The WO is definitely part of the vanguard.
opendime was aiming for it. I guess they are walking around with paperwallets or usb drives in different denominations?? good question though for sure.
something like this can be done too
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April 12, 2021, 10:18:56 PM

Not a financial advice

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Until your wife finds out.

 I'm out of merit but that is damn funny!  Cheesy

That is funny indeed. Merited both of you.  Cool
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April 12, 2021, 10:52:37 PM

Resistance got pretty strong in no time.
I smell hedge funds...  Roll Eyes

I smell a new round of newly printed trillions of $$$ by the Fed to bail out hedge funds that have shorted bitcoin and are too big to fail.


Not sure if hovering here represents strength or a likely ceiling that means we require to revise lower prices still.  Does an especially higher price require momentum to pass old prices or can it just hover and suddenly rise through both moving averages and prior volume pricing at the same time.

Quote

This is a different kind of chart I thought the thread might appreciate, relates to varied economic prospects

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April 13, 2021, 12:58:39 AM

Resistance got pretty strong in no time.
I smell hedge funds...  Roll Eyes

I smell a new round of newly printed trillions of $$$ by the Fed to bail out hedge funds that have shorted bitcoin and are too big to fail.


Bitcoin is also too big to fail.    Cool


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April 13, 2021, 01:06:02 AM

https://www.cnbc.com/2021/04/12/bitcoin-kraken-ceo-jesse-powell-warns-of-cryptocurrency-crackdown.html

Ugh.  I will say that as much as I see Powell as one of the good guys, I have also always seen him as sort of looking upon the US with some distaste.  I thought it was meaningful that his exchange originally seemed to be preferential towards EUR/BTC pairs instead of USD.  Nothing wrong with that, obviously but I feel he was showing his hand a little.  The idea that the US would be too backwards, or crooked would fit what I feel like his narrative is.  But that is compete conjecture, and I also think he could be right if so.

I wonder what he knows?
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April 13, 2021, 01:32:18 AM
Last edit: April 13, 2021, 01:43:26 AM by BitcoinBunny
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https://www.cnbc.com/2021/04/12/bitcoin-kraken-ceo-jesse-powell-warns-of-cryptocurrency-crackdown.html

Ugh.  I will say that as much as I see Powell as one of the good guys, I have also always seen him as sort of looking upon the US with some distaste.  I thought it was meaningful that his exchange originally seemed to be preferential towards EUR/BTC pairs instead of USD.  Nothing wrong with that, obviously but I feel he was showing his hand a little.  The idea that the US would be too backwards, or crooked would fit what I feel like his narrative is.  But that is compete conjecture, and I also think he could be right if so.

I wonder what he knows?

Nothing. Only common sense. -> Out of context reporting by lamestream assholes.

Reporter interview: "Do you think there could be crackdown on crypto usage."

Powell: "Well to be honest there is very little illicit usage when it comes to crypto..."

Reporter (*cuts off Powell*): "Yeah but do you think there is going to be crackdown on crypto usage?"

Powell: "Listen Jim, there is very little illicit usage when it...."

Reporter (*cuts off Powell*): "Yeah but do you think there is going to be at least SOME crackdown on crypto usage?"

Powell: "Well sure, there COULD be SOME crackdown on illegal accounts and ensuring AML / KYC procedures are followed so that...."

Reporter (*cuts off Powell*): "Do you think an identity check on private wallets for transactions over $3000 hurt crypto?"

Powell: "Something like that could really hurt crypto and kind of kill the original use case, which was to just make financial services accessible to everyone....."

Reporter (*cuts off Powell*): "Ok thanks, that's all I needed to know. Bye."
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April 13, 2021, 01:47:07 AM


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April 13, 2021, 02:18:25 AM

The phrase "Don't tase me, bro!" has just taken on a whole new meaning.
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April 13, 2021, 04:45:51 AM
Merited by vapourminer (1), AlcoHoDL (1)

Wasn't he referring to seasonal rains?

Isn’t it Bitcoin season?

Yes, since 2009 actually  Grin

Of course, overall bitcoin has done quite well since it went live in January 2009, yet who the hell really knew about it for some time... except for a few guys that were really in the nerdiest of nerdy circles in terms maybe having some potential technical knowledge.

And, still bitcoin did not really get any kind of attempts at tangible price discovery until around May 2010, the time of the pizzas transaction.. and maybe there have been some spreading of the news about bitcoin as the price was getting assigned to it and it was being found out about by more and more people.  I am pretty sure that I heard the word, "bitcoin" a few times before I looked into it, and maybe I just thought something superficial that it is a kind of invented money like Lindy Dollars or whatever.

I do believe that we should be attempting to consider some of the nuances of bitcoin's price movements and cycles which does seem to cause it to have seasons in which some folks could well be in a world of hurt if they are not able to figure out strategies to get through the cycles.. both financially and psychology, and surely hardly any of us were able to get into bitcoin in 2009 or even sometime soon thereafter be able to have some of the pleasures of experiencing the price appreciation of its whole life... We only know about bitcoin between 2009 and whatever time that we got in through the experiences of others - not that I am saying that you actually "have to" own bitcoin in order to benefit from its invention and they incentive systems that it has set up that will likely end up benefiting everyone, whether they own it or not... and sure the owners of bitcoin do seem to have gotten quite rewarded through the years and likely to continue to be rewarded as far as what seems to be likely in the future.

To level up, you need merits and activity, and to become Legendary you need 1000 merits and an activity of 775-1030 (chosen at random).

He had the merits, not the activity.

Gawd, i got it wrong (again). I'm not surprised, like most of you aren't too...  Roll Eyes

EDIT: Maybe BTC can buy me a reliable brain again in the future. But then i will be old, so i won't need it by then  Angry

Don't worry, the fact that you own BTC means that you belong to the top 0.1% of the smartest people on Earth. Your brain is fine.

I hate to quibble with a fellow bull - but seems to me that there is some level of smarts and luck in terms of finding out about bitcoin and then acting upon such knowledge.   When I found out about bitcoin in late 2013, I was so damned ready for it because it seemed to have been exactly the investment category that I was looking for and so maybe I am one of the rare ones in which the concept clicked almost immediately in terms of the proposition of bitcoin and my desire to get a stake in it, but I surely am not claiming to be any kind of genius in terms of the strategy that I established and if there might have been some better ways of going about my investment into bitcoin in terms of where I was at at the time that I found out about it.

And, yeah, I use the term "found out about it" loosely because I hardly even knew exactly what bitcoin was except for some descriptions of it and what it was trying to achieve, and so part of my initial goal was to start to get a stake in bitcoin but to also study the matter at the same time and to figure out if maybe I needed to readjust my strategies or my ideas about what it was that I was investing into.

There are so many people who neither had the luxury of being in the mental/financial place that I was when I got into bitcoin nor are there many people who have the luxury to spend a lot of time studying a matter...

Many of us heard about the August 2020 article regarding yuppies dismissing bitcoin (a r/bitcoin link on the topic, too), and yuppies are considered to be smart people, but the article is likely correct about some mental blocks that cause difficulties for them to take action in terms of either investing into bitcoin or researching into it more.  Most of them will likely come around sooner or later, and many of them are likely smarter than a lot of us here, just smart in different ways that end up causing them to be a bit of laggards in the likely largest transfer of wealth in our lifetimes, and perhaps the largest peaceful transfer of wealth in the history of man, perhaps?  perhaps?

I agree, luck has certainly played a role for many of us in our Bitcoin journey. But not just luck. I think that one needs to have a suitably capable brain to be able to get into Bitcoin and stay into it for the long run. The true early adopters were the "nerdiest of nerds", as you say, but they had brains too. At least those who kept their coins. Bitcoin was (and still is to some extent) a difficult thing to get into. You can't just go to a shop and buy it. You have to really want to own it, and, to some extent, you need to put some effort (physically and mentally) to get into it. This immediately pushes the lazy, weak, or dumb ones away from it.

On this coming Saturday (the 17th) I've arranged a meeting with a nocoiner cousin of mine, and we'll be meeting at my other cousin's house. So it will be me, my coiner cousin, and another nocoiner cousin. The purpose of the meeting is to initiate the nocoiner into Bitcoin, registering with an exchange, buying his first BTC (only BTC and no other type of coin, I will insist on this), transferring to a wallet, maybe a paper wallet, and also explain the underlying math & science behind Bitcoin. This takes effort, it's not an easy thing to do, even today. Just imagine those really early adopters. Setting up Linux boxes, installing the s/w, trying to understand the tech, and mining out of their CPUs/GPUs something that had no value, or very little value. It was not for everyone. You had to be nerdy, geeky, smartie, lucky, and open-minded, to want to do this. I applaud these guys.

As for me, I first heard about Bitcoin on the news on TV, can't remember when, probably back in 2010-11. Of course, news pieces are designed for dummies and did not really explain it properly. And it was quick too, barely 1 minute long. They just said "digital money", "being able to transact digitally over long distances". So what? Don't credit cards do that? What's so new about it? And the name "Bitcoin" didn't impress me for some reason. I actually hated the sound of that word. Yuck! "Who came up with that ugly name?", I said. And that was the end of it. I forgot about it. The next few times I heard about it was when Silk Road was shut down (2013), and MtGox collapsed (early 2014). Again on the news, and portrayed very negatively. And that was it again, I dismissed it, erased it from my brain and moved on.

I started seriously investigating about Bitcoin in late 2014. Here's an email I sent to a dear friend of mine (now a coiner), dated November 2014 (copy/pasted from my "Sent Mail" folder just now):

                   Sorry for not getting back to you earlier, I forgot to send you those links about the topics we discussed on Sunday. Actually I can't remember all the things that I should send you links for. Here are the topics I do remember:

Ponzi Scheme (Wikipedia's article),
bitaddress.org (Bitcoin wallet generator),
offlineaddress.com (similar to the above),
Bitcoin: A Peer-to-Peer Electronic Cash System (Bitcoin's White Paper, by Satoshi Nakamoto).

Let me know if I've forgotten something. One thing is certain. This is a big thing that has the potential to change the world. We should investigate about Bitcoin as soon as possible and understand it as much as we can. Study it (esp. the last link), and we'll discuss about it again.
                   

The above is the earliest email record I have, where I'm seriously discussing about Bitcoin. Notice my first link: Ponzi Scheme. I was reluctant to accept Bitcoin at the time, because I had not studied it and did not really understand it. I remember reading the White Paper and getting goose bumps on my spine. It was like a revelation to me. I spent the entire week researching about it. I then called my friend on Skype and told him: "We've got to buy Bitcoin ASAP!"

I bought my first 0.5 BTC for about $100 in mid-2015, using a local Bitcoin ATM. 3 months later, I bought another 2 (or was it 3?) BTC for $1000 from the same Bitcoin ATM (price had risen since my first purchase). And that was my (admittedly, very late) start. Then came Andreas Antonopoulos, with his wonderful books and talks, that firmly cemented and gave rigor and structure to what I had already understood about Bitcoin. That was the "point of no return" for me. I was sold. I just knew that this was something big, something very big, and I was so excited to be part of it. And here we are, posting "come on, Bitcoin, do something" memes @ $60k...

So... Luck? Brains? Nerdiness? Craziness? All of the above? I don't know. But it sure has changed my life. And so far it's been the most exciting journey I've even experienced. And the best is yet to come!

Thank you, Satoshi, whoever and wherever you are.

I don't disagree with anything you are saying, AlcoHoDL, and maybe in time 1, I might frame matters in a certain way, and then in time 2, I will frame matters in another way that might say the same thing but emphasize differing parts.  I mean there can be a kind of conviction, but then a kind of luck too.  I mean there is luck to having an ability to spend time reading pie in the sky articles about some concepts that are going to change the world and actually have that resonate with you.  I remember so many people telling me that I needed to read the whitepaper first, and I cannot even recall if I read much of it because I would start to read it and then get caught up in some of the maths and sciences and get confused and then just see what others said about it, and thinking that sounds right. 

I don't tell too many people that the first 1.2486 bitcoin that I bought, I transferred 1BTC to an exchange and I believe that I bought .84 BTC worth of a variety of altcoins (the 8 that they had at the time in equal fragments). Those things are now called shitcoins, but whatever, I was trying to learn by actively participating, so I can relate why folks gravitate towards trying to learn about other projects, even if they might mostly focus on bitcoin (including yours truly and including that I just have become less and less receptive towards those other projects - but maybe i am lucky in that regards too.. that I already was pretty well off in terms of my other investments, so I thought that bitcoin was risky enough without going further into risk upon risk upon risk upon risk.. and I am thinking that there is a bit of luck in that rather than any kind of meaningful smartness coming from me).

Yes, a kind of hail-mary pass to invest , but it still took me about another week to get my BTC stash back up to 1.2486.  I made a whole bunch of BTC buys.. small ones within a pretty short period of time because I was playing around and learning and also I had given myself a 6 month budget that I divided by 26 to have weekly budgets that I tried to stay within with my bunch of scattered and somewhat random ongoing purchases of small quantities.

And think about your first reading list in November 2014, but then your decision that you must buy right away, but it took you until Mid-2015 to actually act.. you lucky bastard.  I had already been buying all the way through 2014, but you were beginning to buy in 2015 when the BTC price was mostly between $200 and $300 for most of the 2015.. maybe mostly in the mid to lower $200s.. like $230 to $240 for quite a long time in 2015.

Think about it too.. from building up a stack of BTC, but still having some uncertainties along the way, because face it, if we actually had conviction, we would have sold our houses (or whatever) and put it all into bitcoin.   I was not going to do that because I was not that convicted, and I just did not want to have all my eggs in one bitcoin basket.  Even in late 2014 (maybe around August or September when BTC prices were in the upper $300s for a considerable amount of time, I was considering cashing out about half of my 401k and putting it into bitcoin, which would have largely doubled my BTC stash.. and I just could not bring my lil selfie to do it.  I felt that I had already put enough into bitcoin, which was then getting close to 10% of my quasi-liquid investments value.. and I was thinking that was enough... lucky or smart or whatever.. it still worked out, and I have no regrets - even though perhaps I may have been even richer if I could have managed all of that good enough NOT to lose them in my early 2017 sim port hack that took a decent quantity of my coins... maybe I would have lost more?  Don't know?  Don't know.  Maybe it would not have mattered.?   I feel lucky that a very fucking size-able loss of BTC hardly ended up making much of a difference in my overall wealth because BTC's appreciation more than made up for the loss in a relatively short period of time.. was that lucky or what (maybe unlucky too, depending on how a guy might look at the matter?).

Some of the coincidental smartness too, came with work and just an ability to have time to ponder on the bitcoin topic rather than maybe having some other daunting situation that I would have had to spend my mental powers.. seems like a kind of luckiness.
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April 13, 2021, 04:54:31 AM
Merited by El duderino_ (3), infofront (1)

This speaks to me.

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April 13, 2021, 05:09:01 AM

[...]

But with Tesla accepting bitcoin I want to buy a Tesla, but if it's a battery technology I know that it makes sense to buy a new car. So the Tesla I'd like to buy is over $100k. I can certainly afford it. But it's such a huge leap. The first house I bought was nice, had 3 acres of land and only cost me $85k. I just can't imagine buying a car that's more expensive than what I'd pay for a house (don't get me started on the prices of houses right now...).

[...]

As someone once said here in WO, when you're buying a Tesla with Bitcoin, what's really happening is Tesla is doing the buying and you are doing the selling.

Eventually I'll need a car, and all I have is bitcoin.

So...the last time I needed to buy a car I was selling and the local guy I sell bitcoin to was doing the buying.

At least doing it directly I save the 3% fee.

How could you NOT have cash if you supposedly sold a decent chunk of BTC at just above $50k.. something is not adding up here.  Presumably your BIG chuck of BTC sales just above $50k would have been enough for a car., especially since you said that you will not need to make any more BTC sales for a long time. .blah blah blah.

Bitcoin has more than doubled as well - you're fine!

But not since I made the go decision. The lumber prices were quite a surprise. But yeah, if we're going from my buy-in price, we're probably talking about $1 Cheesy

Too bad that you ONLY bought a few bitcoins, you cheap bastard.   Cheesy Cheesy Cheesy

We already talked about some peeps who like to brag about their low buy-in prices, but they ONLY bought a small quantity and then just sit on it for the whole time.. sure it could work out fine, but it also could have worked out even MOAR better to continue to stack sats... bringing UP your average BTC buy in price, but also increasing your BTC stash, too.

For peeps who had not adequately stocked up on bitcoin prior to September 2020, they might be needing more price appreciation to make up for what they "should have done."   So yeah, some peeps might have either been distracted by various shitcoins or may have been busy thinking negatively about bitcoin which contributes to their failing/refusing to adequately prepare for UP.  

Or perhaps we just don't want to sell our coin so cheap Cheesy

Or maybe we're just using an excuse procrastinating.

I think that there are a variety of scenarios, but one of the ongoing scenarios that I like to poke fun at are those who do not adequately pee pare their lil selfies for UP by not buying enough, waiting for the price to drop and it does not drop, selling too much too soon.  I was not referring to potential inaction scenarios, even though those might be problems too, especially if the BTC price ends up correcting severely and then the person had failed to take profits on the way up..., and end up getting fucked (and perhaps salty) because the BTC price corrects much more than he expected.. perhaps 30-40% or 50-60% or sometimes even ends up correcting greater than 70% and such person is whining the whole time because he failed/refused to take any profits after 10x or 100x or some other variations of returns.
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April 13, 2021, 05:16:11 AM

Oh noes. It's that evil Bill Gates, nanochipping us all with chemtrails.

He's obviously a commie, probably Chinese.

 Roll Eyes

No, no, no Jimbo. He is a philanthropist. Tongue
He's also the most ruthless businessman alive.

How does this combine? Magically, but WHO cares.



Just another day for the Vaccine Observer.

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April 13, 2021, 06:12:01 AM
Merited by wxa7115 (3), El duderino_ (3), vapourminer (1), Hueristic (1)

Not sure anyone has posted this yet but seems TIME magazine has also decided to buy into BTC

https://decrypt.co/66263/time-joins-tesla-keeping-bitcoin-balance-sheet
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April 13, 2021, 06:16:15 AM

Not sure anyone has posted this yet but seems TIME magazine has also decided to buy into BTC

https://decrypt.co/66263/time-joins-tesla-keeping-bitcoin-balance-sheet

This is actually a pretty interesting read, thanks for sharing!

Looks like 2021 is really the year of cryptos going mainstream Shocked
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April 13, 2021, 06:29:11 AM

To me I think people have started believing in Bitcoin more than ever and this is just a start. I hope these poor countries will be first to adopt it officially and get rid of this $ dollar and euro trap once and for all.

It’s so sad how these African nations have been treated for centuries.

Cryptos are a huge opportunity for emerging nations to get access to a level playing field. And once they realize they can leverage cryptos against the world domination of USD, things are going to change even faster than it is right now. They need to focus on the tokenization of their national currency (central bank) and adopt robust exchanges backed by state cautioned financial security, and get the money transfer agencies to embrace the new system. It is really a gift to universal free flow of money.

Do the points of your post have anything to do with bitcoin?  I hardly have any clue regarding what you are talking about and whether it might somehow relate to bitcoin.  Do you mean that bitcoin is going to be used as a way to settle transfers between banks or other kinds of money transfer agencies because it is more trustworthy to use?

if you are using the term "crypto" then maybe you want to talk about ethereum or some defi or some other bullshit, and you believe that anyone is really going to want to rely on that crap?  unless maybe it is a second layer on bitcoin, then maybe there might be some reliance on such systems not fucking up your money... might be helpful not to use that stupid-ass term, and try to fit bitcoin in your analysis in order to attempt to clarify what you are talking about exactly, and if you are not talking about bitcoin or something bitcoin related, then it would be better to take that discussion to some other thread because we be interested in bitcoin in this here thread, if you had not noticed the title of the thread... The title does not have some amorphous bullshit term such as "crypto."

Not sure anyone has posted this yet but seems TIME magazine has also decided to buy into BTC

https://decrypt.co/66263/time-joins-tesla-keeping-bitcoin-balance-sheet

This is actually a pretty interesting read, thanks for sharing!

Looks like 2021 is really the year of cryptos going mainstream Shocked

What is crypto?  Is it related somehow?
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April 13, 2021, 06:42:01 AM

Do the points of your post have anything to do with bitcoin?  I hardly have any clue regarding what you are talking about and whether it might somehow relate to bitcoin.  Do you mean that bitcoin is going to be used as a way to settle transfers between banks or other kinds of money transfer agencies because it is more trustworthy to use?

(snipped)

Yes, that is my point indeed. I use cryptos as a broad term here. The point is that USD is no longer the only reference currency, and yes that is where Bitcoin fits in, as a store of value and an interbank settlement tool (probably needing upper layers). That would be the relationship between BTC and my loose use of the word "cryptos".

Why is USD currently ruling international finance? Because so many systems use it as a reference currency. If the world starts to perceive bitcoin to be as strong as (or even stronger than) the US Dollar, that reference currency could shift rapidly towards bitcoin. And the same applies to a lesser extent to ETH and maybe some more cryptos.

Just my 2 statoshis...
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ESG, KYC & AML are attack vectors on bitcoin


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April 13, 2021, 07:04:10 AM
Last edit: April 13, 2021, 07:19:47 AM by JayJuanGee
Merited by El duderino_ (2), JimboToronto (1), AlcoHoDL (1)

Do the points of your post have anything to do with bitcoin?  I hardly have any clue regarding what you are talking about and whether it might somehow relate to bitcoin.  Do you mean that bitcoin is going to be used as a way to settle transfers between banks or other kinds of money transfer agencies because it is more trustworthy to use?

(snipped)

Yes, that is my point indeed. I use cryptos as a broad term here.

There is no such thing as the broad term that you are making up, and just because other people use such stupid-ass vague term (such as in the mainstream media or some shitcoin forum), we do not use it in these here parts (such as this thread) -unless we are ridiculing the idea.

In other words, it is better to specify what you are talking about in terms of bitcoin.. which I suppose you did in your responsive post.  

The point is that USD is no longer the only reference currency, and yes that is where Bitcoin fits in, as a store of value and an interbank settlement tool (probably needing upper layers). That would be the relationship between BTC and my loose use of the word "cryptos".

I don't know why any other cryptos (besides bitcoin) need to be discussed here.  Just talk about bitcoin or matters that relate to bitcoin. That should keep you busy enough, no?  And if the subject that you would like to discuss does not relate to bitcoin and it is some nonsense thing trying to act like it is bitcoin, or it is some vague amorphous concept that covers shitcoins (suchas the term crypto) then talk about that in some other thread....

In any event, if you are able to figure out what differentiates bitcoin from various shitcoins, then it might help to clarify your thinking on the topic bitcoin and you will not feel such a need to use vague words, such as "crypto", perhaps.  Of course, there are various other projects and layers that are built upon bitcoin, and if you are referring to any then you can just say it, otherwise, what is wrong with talking about whatever it is that you want to say in terms of interbank settlement in terms of bitcoin?  

I doubt that anyone is going to disagree with the concept that bitcoin allows for the keeping of honest of other systems whether referring to banks, or transfer agencies or even governments.

Why is USD currently ruling international finance? Because so many systems use it as a reference currency.

Fair enough.. The dollar is likely going to rule for a long time.  I know that some people believe that bitcoin is going to all of a sudden take over as reserve currency, but the dollar is not going down without a fight, and many of us know that bitcoin is the much better investment, except maybe proudhon has not gotten that memo yet.

If the world starts to perceive bitcoin to be as strong as (or even stronger than) the US Dollar, that reference currency could shift rapidly towards bitcoin.

Yes... slowly and then suddenly.. yes it could happen, but I would not count on it happening, even if it could.

And bitcoin is successful as fuck whether it becomes world reserve currency or not.. and in fact, we can all differ on our projection of timelines about if or whether bitcoin will become world reserve currency.. while at the same time, many of us have been investing into bitcoin because we recognize it as the hardest of monies, and of course, gresham's law is going to suggest that a lot of people are going to be figuring out that they spend their less valuable monies first and so sure in that sense value will continue to gravitate into bitcoin since bitcoin surely seems to be the most sound money/asset that the world has ever seen... whether it is 10x 100x 1000x or greater than gold will be shown over time... gradually and then suddenly.. but who knows when the suddenly part will come about?  2 years ( I doubt it) 10 years (still not too likely).. but sure in one, two or three more cycles, it is becoming way more apparent to more people about bitcoin being a great place to store value, even if it seems that the BTC price has already gone up a lot.

And the same applies to a lesser extent to ETH and maybe some more cryptos.

Fuck ethereum and the various other shitcoins that you have failed to name (and likely good that you did not.. maybe you believe that NFTs have value, too?  yeah right.   Roll Eyes Roll Eyes Roll Eyes  ).  

Anyhow believing that ethereum is even comparable to bitcoin is where your logic is all fucked up if you believe that any of the shitcoins have much if any sound money features, even if they happen to be performing better than the dollar currently, but there is not going to be more than one sound money.. and ethereum does not have a chance against bitcoin and nothing else is close either.. so maybe it takes 5 years to 20 years to 50 years to figure it out, and in the meantime you can fuck around with ethereum and any of your other shitcoins that you believe to have sound money features in some other place.. because they are smoke and mirrors.. meaning that there is no there there, and they are just hanging on the coattails of bitcoin (or would it be sucking of the teet of bitcoin) whatever.. so your desire to use the term "crypto" shows that you do not understand the difference that bitcoin provides including that proof of work was an actual invention that no other coin has been able to imitate...


Just my 2 statoshis...

Well, at least you are using the correct unit of account, for the moment.
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April 13, 2021, 07:29:55 AM
Merited by El duderino_ (2)

So we get all this bullish news for weeks including the latest thing about people getting paid in BTC, Time etc but the price hardly moves?

At this stage we could see Joe Biden tap dancing towards a press conference and do a rap:
"Buy Bitcoin ya'll it's the best there is,
The dollar, it's just a bunch of piss,
That Yellen bitch, man, she got fired,
Anyone who likes Bitcoin, yup he is hired,
Buy Bitcoin yo! yo!
Buy Bitcoin yo! yo!
I like them young girls and have a sniff
They make my penis go all nice and stiff - say what?!
Buy Bitcoin yo! yo!
Buy Bitcoin yo! yo!
"

He puts on his shades and summersaults out of the room.

And the price would still hover around $59-61K
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