This might rocket Bitcoin to the moon, again....

[hyunsookmom]

I know this is stating the obvious but one major power of Bitcoin for the super rich is to move assets around the world in times of trouble, asset seizure and Gold simply just not doing what its supposed to do due to manipulation and laws regarding movement etc. (not an anti gold rant)

But has the real super rich moved any meaningful assets into bitcoin yet? At a market cap of less than 10 billion dollars then it really hasnt been touched by those who have to get out of a country due to conflict or government clamp downs on the rich.

I'm not suggesting we promote the idea of Bitcoin as a way for your average Oligarch to move his funds away from the taxation of the government but if say any serious conflict erupted then many mainstream rich might now know enough about Bitcoin to at least try putting some of their wealth into Bitcoin. Its not a new thing and I'm sure loads of Chinese officials have already done this but I think in the next stage of the coming collapse of economies and currencies which I believe is coming many will be running to Bitcoin, particularly across borders to escape governments controls.

In many ways i'm surprised the Ukraine conflict hasn't already caused a major spike...



PS I want to stick my neck out and say I think we are about to see a major spike in the price of Bitcoin that will surprise even some hardcore Bitcoiners. It sounds arrogant but I have a sixth sense for these things. Remember you heard it here first.


The MSM has been trying desperately to convince the world that Bitcoin is at later stages of a classic bubble when the reality which might be hard for even Bitcoin fans is that we are just in the stealth phase!  It sounds arrogant but I have a sixth sense for these things. Remember you heard it here first.


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[hyunsookmom]

[–]jonwaller 1 point 11 seconds ago

BEWARE! ZIP CONTAINS SUSPICIOUS EXE FILES!

What zip file, I think you're in the wrong forum, unless you're NSA?

[bbeagle]

But has the real super rich moved any meaningful assets into bitcoin yet? At a market cap of less than 10 billion dollars then it really hasnt been touched by those who have to get out of a country due to conflict or government clamp downs on the rich.

Rich people are smart enough with their money not to fall for the bit coin scam.

When people legitimately can trade bit coins without fear of losing them, and can actually cash them out instantly without worry, then the rich might get into it. No matter what bit coin is 'worth', it's impossible to get the value out of it right now. There should be a lot of stories such as 'I bought 1,000 bit coin at $200 on Tuesday and cashed out on Thursday at $300.' I made $100,000 in just 2 days! Here's a picture of my yacht! But no--- nobody does that. Everyone follows their paper values and can't cash out when they want to.

The rich know how to take a 0.10 stock, buy a lot of it, and sell it all for 0.20 later in the day. It doesn't matter what the value of the stock is, as long as it moves, and they can actually buy and sell within seconds many times a day, they will put their money in and out of it. It is IMPOSSIBLE to day trade large portions of bit coin the way the currency is in constant flux, and the way all the exchanges are scams run by 15-year old developers who think that just because they can code HTML and PHP that they know everything about security.

Bit Coin is just the next Beanie Babies - a 50 cent stuffed animal, that somehow had values up to $3,000. That market had a 3 year run-up to unbelievable values. People paid $300 to own a 50 cent stuffed animal, and actually thought that $300 was a good investment. And then suddenly, within a month, the market was gone. I heard the same people back then talking about how the Beanie Baby market would help them retire. They ended up being worthless. Only the few people who got out right before the bust made any money.

Bit Coin is right at this bust point. No 'currency' has ever existed to make people rich. That seems to be the only point of bit-coin - to make the early adopters rich, in the guise that this is a currency. Sigh. Get out now, you might be able to make something, but it's probably too late now.

[hyunsookmom]

But has the real super rich moved any meaningful assets into bitcoin yet? At a market cap of less than 10 billion dollars then it really hasnt been touched by those who have to get out of a country due to conflict or government clamp downs on the rich.

Rich people are smart enough with their money not to fall for the bit coin scam.

When people legitimately can trade bit coins without fear of losing them, and can actually cash them out instantly without worry, then the rich might get into it. No matter what bit coin is 'worth', it's impossible to get the value out of it right now. There should be a lot of stories such as 'I bought 1,000 bit coin at $200 on Tuesday and cashed out on Thursday at $300.' I made $100,000 in just 2 days! Here's a picture of my yacht! But no--- nobody does that. Everyone follows their paper values and can't cash out when they want to.

The rich know how to take a 0.10 stock, buy a lot of it, and sell it all for 0.20 later in the day. It doesn't matter what the value of the stock is, as long as it moves, and they can actually buy and sell within seconds many times a day, they will put their money in and out of it. It is IMPOSSIBLE to day trade large portions of bit coin the way the currency is in constant flux, and the way all the exchanges are scams run by 15-year old developers who think that just because they can code HTML and PHP that they know everything about security.

Bit Coin is just the next Beanie Babies - a 50 cent stuffed animal, that somehow had values up to $3,000. That market had a 3 year run-up to unbelievable values. People paid $300 to own a 50 cent stuffed animal, and actually thought that $300 was a good investment. And then suddenly, within a month, the market was gone. I heard the same people back then talking about how the Beanie Baby market would help them retire. They ended up being worthless. Only the few people who got out right before the bust made any money.

Bit Coin is right at this bust point. No 'currency' has ever existed to make people rich. That seems to be the only point of bit-coin - to make the early adopters rich, in the guise that this is a currency. Sigh. Get out now, you might be able to make something, but it's probably too late now.

If your account isn't entirely started to try to rubbish Bitcoin then I don't know what is. Who you working for?, seriously tell us, we wont tell...

I wonder what idea is scaring your superiors in my post? You know your job is pointless right in terms of historical purpose. Bitcoin wins, you lose..

[Chef Ramsay]

But has the real super rich moved any meaningful assets into bitcoin yet? At a market cap of less than 10 billion dollars then it really hasnt been touched by those who have to get out of a country due to conflict or government clamp downs on the rich.

Rich people are smart enough with their money not to fall for the bit coin scam.

Bit Coin is right at this bust point. No 'currency' has ever existed to make people rich. That seems to be the only point of bit-coin - to make the early adopters rich, in the guise that this is a currency. Sigh. Get out now, you might be able to make something, but it's probably too late now.

Wow, that certainly was a mouthful. There are many rich people of varying degrees all over the world that are involved w/ and holding Bitcoins so your main thesis is bunk. You're wasting your time here if you think you're gonna run up on this forum and think anyone is going to fall for your labeling of Bitcoin as a scam. You only discredit yourself, bro.

[Nagle]

I know this is stating the obvious but one major power of Bitcoin for the super rich is to move assets around the world in times of trouble, asset seizure and Gold simply just not doing what its supposed to do due to manipulation and laws regarding movement etc.

The Bitcoin market is way too thin for that. Try to sell a few million in Bitcoins and you'll crash the price.

That's why the Winkelvii are trying to set up an ETF. They bought a lot of Bitcoins, but can't get out. What are they going to do, sell on Mt. Gox?

[Beliathon]

I know this is stating the obvious but one major power of Bitcoin for the super rich is to move assets around the world in times of trouble, asset seizure and Gold simply just not doing what its supposed to do due to manipulation and laws regarding movement etc.

The Bitcoin market is way too thin for that.

Not for long.

[jonald_fyookball]

Bit Coin is just the next Beanie Babies.

file this one under the dumbest thing i ever heard someone say about bitcoin

[cr1776]

...says the guy who can't even get the basic spelling of spell "bitcoin" correct?

But has the real super rich moved any meaningful assets into bitcoin yet? At a market cap of less than 10 billion dollars then it really hasnt been touched by those who have to get out of a country due to conflict or government clamp downs on the rich.

Rich people are smart enough with their money not to fall for the bit coin scam.

When people legitimately can trade bit coins without fear of losing them, and can actually cash them out instantly without worry, then the rich might get into it. No matter what bit coin is 'worth', it's impossible to get the value out of it right now. There should be a lot of stories such as 'I bought 1,000 bit coin at $200 on Tuesday and cashed out on Thursday at $300.' I made $100,000 in just 2 days! Here's a picture of my yacht! But no--- nobody does that. Everyone follows their paper values and can't cash out when they want to.

The rich know how to take a 0.10 stock, buy a lot of it, and sell it all for 0.20 later in the day. It doesn't matter what the value of the stock is, as long as it moves, and they can actually buy and sell within seconds many times a day, they will put their money in and out of it. It is IMPOSSIBLE to day trade large portions of bit coin the way the currency is in constant flux, and the way all the exchanges are scams run by 15-year old developers who think that just because they can code HTML and PHP that they know everything about security.

Bit Coin is just the next Beanie Babies - a 50 cent stuffed animal, that somehow had values up to $3,000. That market had a 3 year run-up to unbelievable values. People paid $300 to own a 50 cent stuffed animal, and actually thought that $300 was a good investment. And then suddenly, within a month, the market was gone. I heard the same people back then talking about how the Beanie Baby market would help them retire. They ended up being worthless. Only the few people who got out right before the bust made any money.

Bit Coin is right at this bust point. No 'currency' has ever existed to make people rich. That seems to be the only point of bit-coin - to make the early adopters rich, in the guise that this is a currency. Sigh. Get out now, you might be able to make something, but it's probably too late now.

[Wilikon]

The fact all those "newbies" can post weird stuff so early makes ignoring them forever is soo much easier. 

[Phinnaeus Gage]

But has the real super rich moved any meaningful assets into bitcoin yet? At a market cap of less than 10 billion dollars then it really hasnt been touched by those who have to get out of a country due to conflict or government clamp downs on the rich.

Rich people are smart enough with their money not to fall for the bit coin scam.

When people legitimately can trade bit coins without fear of losing them, and can actually cash them out instantly without worry, then the rich might get into it. No matter what bit coin is 'worth', it's impossible to get the value out of it right now. There should be a lot of stories such as 'I bought 1,000 bit coin at $200 on Tuesday and cashed out on Thursday at $300.' I made $100,000 in just 2 days! Here's a picture of my yacht! But no--- nobody does that. Everyone follows their paper values and can't cash out when they want to.

The rich know how to take a 0.10 stock, buy a lot of it, and sell it all for 0.20 later in the day. It doesn't matter what the value of the stock is, as long as it moves, and they can actually buy and sell within seconds many times a day, they will put their money in and out of it. It is IMPOSSIBLE to day trade large portions of bit coin the way the currency is in constant flux, and the way all the exchanges are scams run by 15-year old developers who think that just because they can code HTML and PHP that they know everything about security.

Bit Coin is just the next Beanie Babies - a 50 cent stuffed animal, that somehow had values up to $3,000. That market had a 3 year run-up to unbelievable values. People paid $300 to own a 50 cent stuffed animal, and actually thought that $300 was a good investment. And then suddenly, within a month, the market was gone. I heard the same people back then talking about how the Beanie Baby market would help them retire. They ended up being worthless. Only the few people who got out right before the bust made any money.

Bit Coin is right at this bust point. No 'currency' has ever existed to make people rich. That seems to be the only point of bit-coin - to make the early adopters rich, in the guise that this is a currency. Sigh. Get out now, you might be able to make something, but it's probably too late now.

It's Bitcoin! One word, not two.

[snakebit]

The fact all those "newbies" can post weird stuff so early makes ignoring them forever is soo much easier. 

It's the best feature of this forum by far. 

[hyunsookmom]

I know this is stating the obvious but one major power of Bitcoin for the super rich is to move assets around the world in times of trouble, asset seizure and Gold simply just not doing what its supposed to do due to manipulation and laws regarding movement etc.

The Bitcoin market is way too thin for that. Try to sell a few million in Bitcoins and you'll crash the price.

That's why the Winkelvii are trying to set up an ETF. They bought a lot of Bitcoins, but can't get out. What are they going to do, sell on Mt. Gox?

I would say its thin and dispersed over many exchanges at the the moment but I wouldn't say its too thin. If some rich guy says to his financial advisor
 ok I want 10 million dollars in Bitcoin, they could go off and do that in a week or two without pushing the price up hardly at all. I would say the ETF is just to make it possible technically for fund managers to hold them and also its the language that fund managers understand, they are just middlemen, two idiot twins with a bit of savvy to see the future and a ton of money from Zuckerberg and connections to do something with it.


Anyway back to my original point. This is why I actually think the price can skyrocket from here as this sector of the world wakes up to realize its a viable way to move assets. So I agree with you the market is relatively thin and these elements coming onboard with far bigger sums are gonna push things a lot soon.  Bitcoin while mainly negative in the financial mainstream must be getting the attention of big money managers..

I hate to say this but war and chaos are Bitcoins best friends. In the last world wars it was gold and art work that got smuggled out of war torn areas, these days Bitcoin is the perfect tool.

[KJO]

But has the real super rich moved any meaningful assets into bitcoin yet? At a market cap of less than 10 billion dollars then it really hasnt been touched by those who have to get out of a country due to conflict or government clamp downs on the rich.

Rich people are smart enough with their money not to fall for the bit coin scam.

When people legitimately can trade bit coins without fear of losing them, and can actually cash them out instantly without worry, then the rich might get into it. No matter what bit coin is 'worth', it's impossible to get the value out of it right now. There should be a lot of stories such as 'I bought 1,000 bit coin at $200 on Tuesday and cashed out on Thursday at $300.' I made $100,000 in just 2 days! Here's a picture of my yacht! But no--- nobody does that. Everyone follows their paper values and can't cash out when they want to.

The rich know how to take a 0.10 stock, buy a lot of it, and sell it all for 0.20 later in the day. It doesn't matter what the value of the stock is, as long as it moves, and they can actually buy and sell within seconds many times a day, they will put their money in and out of it. It is IMPOSSIBLE to day trade large portions of bit coin the way the currency is in constant flux, and the way all the exchanges are scams run by 15-year old developers who think that just because they can code HTML and PHP that they know everything about security.

Bit Coin is just the next Beanie Babies - a 50 cent stuffed animal, that somehow had values up to $3,000. That market had a 3 year run-up to unbelievable values. People paid $300 to own a 50 cent stuffed animal, and actually thought that $300 was a good investment. And then suddenly, within a month, the market was gone. I heard the same people back then talking about how the Beanie Baby market would help them retire. They ended up being worthless. Only the few people who got out right before the bust made any money.

Bit Coin is right at this bust point. No 'currency' has ever existed to make people rich. That seems to be the only point of bit-coin - to make the early adopters rich, in the guise that this is a currency. Sigh. Get out now, you might be able to make something, but it's probably too late now.

2nd grade fundamentals!