This is what happened last time in 2018 when Hash Ribbon - Capitulation occurred on $BTC. Price went down 50%.
How's that working out for you this time, so far?
We can see from the chart that Bitcoin has dumped about 32% from $39K. In just four to five days. Bitcoin hit $32.5K yesterday. The current Bitcoin price is $30K. Bitcoin may go up to $28k price again. And if the price of Bitcoin does not go up to $28k then we can see the price of Bitcoin $35k. And if the price of Bitcoin goes to $28k then we see the price of Bitcoin as $25k next level.
Gosh.. you got all the possibilities covered..
up, down and even sideways implied.
The TA is improving in these here parts...
Hang on to ur panties bois (and gurl, too)!!!
seems 99% of us are not like anyone else here either judging by the many differing viewpoints that are discussed in this thread. only common denominator here is the only one of importance.. we agree bitcoin is the future. all else pales in comparison.
True enough.
Rephrase what I said, according to its context: In the hypothetical event of a total ban, >99% of people here could be easily stopped from using Bitcoin.
If the ban were global (or even just covered the strategically most powerful jurisdictions), the rest of us could then have fun anonymously trading encrypted virtual pizza NFTs for bitcoins—since the market as we now know it would cease to exist.
I urge people to stop blowing off the threats of anything from regulatory attacks on use and trading of Bitcoin, to restrictions on mining, to (less likely, but still possible) widespread bans.
phil, why bother with the vest? Don’t worry. You can’t get shot, because it’s illegal for criminals to have guns.
Brings us back to the question regarding how much effort that any of us might be putting into
scenarios that have low odds of happening. To me, it seems as if
you may well be putting way disproportional amount of efforts and resources into a kind of scenario that likely has low odds of playin gout anywhere near the level that it would need to play out in order for you to get your "I told you so " moment... and sure maybe for you, to the extent that you really have not made mistakes, the various costs are worth it.. and you get a kind of thrill out of making such preparations and being such a "unique beast.".
Does not mean that others in this thread should even want to put anything close to the same level of preparations and efforts into such scenarios that you hypothesize that may or may not come even close to playing out at your fantasy levels.
To make your point there, you cherry-picked one post out of an extended discussion.
In this particular post, I primarily mentioned a worst-case scenario that I deem very unlikely: A total, global ban of Bitcoin in all major jurisdictions, with draconian criminal penalties for mere possession of BTC. It is hypothetical—as should be implicitly obvious: I am not so stupid as to discuss publicly my own violation of these nonexistent laws, if they exist or are likely to soon exist! Of course,
it is not impossible: The United States banned gold for a long time, with draconian criminal penalties for unlicensed individual possession of gold bullion. A gold coin was deemed “contraband”.I must drive that point home. There is no cause to treat me as Chicken Little (or when we turn to discussing E.U. politics, Henny Penny) for my striving to awaken people out of their complacency, when
even the absolute worst-case scenario has real-world historical precedent. Banning Bitcoin would be
much easier for the U.S. government than banning gold was in 1934, at a time when a relatively high percentage of middle- and upper-class people owned gold—very few people have Bitcoin, by comparison. In 1933, a ban of gold must have seemed totally impossible; I’d think that anyone who was worried about a gold ban would have been dismissed as an alarmist. To gain some perspective, mull on that for a bit.
(Other things that seem very unlikely: The Nixon Shock. What, do you imagine that the U.S. government will simply renege and default its obligations to other governments? You believe that the United States will blatantly break its promises
to other governments about the the dollar being redeemable for gold, just like Do Kwon did with the UST peg? Actually, what the USG did was worse than what Do Kwon did—much worse, and on a much larger scale. Nah, that will never happen...
whoops.)
In the post that started this subthread, I briefly mentioned likelihood of various other scenarios:
Now, I foresee a multi-pronged carrot-and-stick attack to force Bitcoin to switch to POS. A part of the “stick” is government regulation that drastically drives up the costs and hassles of mining (more likely), or maybe even an outright ban of POW mining (less likely). The writing is on the wall. In the U.S., which now hosts a terrific percentage of global hashrate, there are a few Federal legislators actively trying to prevent this: Cruz, Lummis—anyone else? Now, why are you sneering at them?
I did not even try to assign a likelihood to an absolute, total ban of Bitcoin. I raised that worst-case hypothetical to shoot down the stupidity of bragging that governments can’t stop Bitcoin.
Yes, they can. If the USG banned gold, then they can ban Bitcoin! It would be costly and difficult for them, but assuredly not impossible.
Due to the cost and difficulty of banning Bitcoin, I think it’s much more likely that anti-Bitcoin factions will seek other ways to bring Bitcoin under control: To corrupt it, to mislead people to treat it as a quasi-stock (which opens the door to worse regulatory attacks that you ignore in your other post), to suppress mining, and most of all, to force a switch to POS. That last is not only a
very likely attack: The push for it is already happening! Actually, all of the scenarios that I have just enumerated are in some degree already happening.
I was speaking way more general in terms of degrees in which some of us might choose to have varying existences in the meat space, and the extent to which your various protective measures are worthwhile. I doubt that I am going to talk you out of taking measures or denigrating various normies (even engaging in quite a bit of generalizations) in your proclamations of your supposed superior perspective and practices.
My focus is proportionate, measured, and well-attuned to reality. You are sticking your head in the sand, living in a fantasy that your “King Daddy” is invincible.
We know that you are completely reasonable.
I doubt that I asserted that King daddy is invincible.. but surely getting pretty damned close to that.. especially the longer that it exists..
Have uie-pooie taken enough breaks in your arguing in regards to your superior perspectives to recognize and appreciate Lindy effects .. ?
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