Bitcoin crash coming?

[ShopCat]

Know someone who has 900,000 doge, after already selling some. He started at $0.007. At one point had 9,000,000.

[biosurfer1]

Apparently the answer to this thread title is : week of April 18

Party's over...the Ponzi scheme is revealed...nothing but a scam.

or, just another day in the crypto world

[ShopCat]

Lol.... from $3k to $65k in a year, crash to $50k, its obviously a failure, nothing to see here...

[Skillet83]

Originally Posted by biosurfer1

Apparently the answer to this thread title is : week of April 18

Party's over...the Ponzi scheme is revealed...nothing but a scam.

or, just another day in the crypto world

Been hearing it from the no coiners for years. Stick to your gold and silver. For me, I hold equities, real estate along with crypto. I am making money across the board, but by far, crypto is on a rampage. There is a lot more to this than Bitcoin. Will update soon.

[GH85Carrera]

https://www.businessinsider.com/plattsburgh-new-york-cryptocurrency-mining-ban-2018-3



Cryptocurrency Mines Consume More Power Than Argentina

Wow.

[Skillet83]

BTC holding at 56K. Damn, gloom and doom. Check out smartlands.app (SLT). .32 in January, now at $19.00. Real estate listings coming Wednesday of this week, Tier 1 exchange coming, data center partnership announced today. Easiest damn money I ever made. Check out the staking of tokens on smartlands. Flare networks coming in a couple months ( this is huge, watch youtube), spark token. My head is swimming trying to keep up with it all, happening that fast. Showed my wife gains tonight since October, she was shocked I tell ya.
There are literal millions to be made here fellas if you have a small stack to work with and are patient.

[Skillet83]

Originally Posted by GH85Carrera

https://www.businessinsider.com/plattsburgh-new-york-cryptocurrency-mining-ban-2018-3



Cryptocurrency Mines Consume More Power Than Argentina

Wow.

Keep in mind, at the end of 2024, early 2025 those miners get cut in half what they earn. What just happend to cause the spike in BTC, same as 2017. 2024-2025 will be another parabolic rise in BTC. Keep Stackin Bicthez!!!

[biosurfer1]

Originally Posted by Skillet83

Been hearing it from the no coiners for years. Stick to your gold and silver. For me, I hold equities, real estate along with crypto. I am making money across the board, but by far, crypto is on a rampage. There is a lot more to this than Bitcoin. Will update soon.

Clearly you didn't get my sarcasm

[Skillet83]

Watched this vid. from Raoul Pal. He explains what I have been trying to say. What is happening in the digital/crypto space and at the pace is mind warping. The amount of money to be made is staggering. It is very early in adoption, massive opportunity. The play is 1.5 hours, but can watch at x 1.5 speed easily.

[Wayne 962]

But, what if nearly all of the gains come from leverage placed on existing bitcoins? A leverage ratio of 2:1 invested back into Bitcoin, would then theoretically double the value of bitcoin, without any fundamental increase in utility of the currency?

-Wayne

[biosurfer1]

Originally Posted by Wayne 962

But, what if nearly all of the gains come from leverage placed on existing bitcoins? A leverage ratio of 2:1 invested back into Bitcoin, would then theoretically double the value of bitcoin, without any fundamental increase in utility of the currency?

-Wayne

Isn't that what is happening in the stock market, with stocks near their all time high P/E ratios?

[Wayne 962]

Yes, I believe so. But margin interest in stocks is more regulated than crypto, from what I know. You can indeed put $$$ into a brokerage, take the money out on margin, take it to another brokerage and lever up by doing that 5-10 times. On the crypto exchanges, some have been offering 125:1 leverage which is extreme...

-Wayne

[Skillet83]

You did not watch video Wayne. 2016 BTC MC was 14B, today BTC MC is 1.1T. 5 years from now, will be parabolic. Everything will be digitized, money flowing into this space worldwide at an astonishing rate. He mentions, BTC, ETH, Real Estate, Technology, NFT's, etc...Everything will be digitized. Payment systems, a whole different world. Were are talking 100T-300T asset classes and crypto only at 2T.
Will say it again, like buying Apple, Walmart, Microsoft in it's infancy. Will be losers and winners, choose wisely.

[Wayne 962]

It could be. Or it could be eToys.com, or Pets.com, or [insert any one failure here].

I don't have an hour and a half to spend on something like this, but here's the transcript:

http://www.rdwdevelopment.com/temp/bitcoin.txt

I also think that the energy usage for mining Bitcoin is absolutely terrible, and perhaps the worst thing to happen to the planet in decades. Nearly everyone who promotes Bitcoin refuses to admit the scope of this issue.

-Wayne

[cstreit]

Bitcoin is self regulating. The energy cost to mine was supposed to trigger innovation and reduce profitability of mining to the point of being unprofitable.

..however as long as people bid up, its price to keep mining profitable despite the terrible energy cost, it will continue.

How to stop it? Quit speculating and let it move to it’s equilibrium point.

[TCracingCA]

China invited in some tech Companies to set up the biggest nine in the World. After it was running, in operation tablulating, the Government threw those Companies out of their Country.

They are doing alot of that. They screwed Saleen, had him bring over his designs, next generation cars, energy efficient crap, and as soon as they had his stuff, they ended the partnership and kicked him out.

I think China will dominate this shortly.

[island911]

Originally Posted by Wayne 962

...

I also think that the energy usage for mining Bitcoin is absolutely terrible, and perhaps the worst thing to happen to the planet in decades. Nearly everyone who promotes Bitcoin refuses to admit the scope of this issue.

-Wayne

THIS ^ is a strong point. The overhead of Bitcoin is ridiculous. The utility is just not there. Some say this is the next MSFT, but how? MSFT brought great utility to the masses. Bitcoin, not so much. I get the speculative Ponzi side of crypto, but the business side? No.

[Skillet83]

Originally Posted by island911

THIS ^ is a strong point. The overhead of Bitcoin is ridiculous. The utility is just not there. Some say this is the next MSFT, but how? MSFT brought great utility to the masses. Bitcoin, not so much. I get the speculative Ponzi side of crypto, but the business side? No.

The total MC of Crypto is around 2.4T, BTC is around1.1T, just about half of total. It is the wild west, but if you research what is happening, this is where things are heading. There are fortunes to be made here. So much fokking money and development flowing in.
BTC is the headlines, but so much more happening is this space. Crypto is only 5% of my net, but up 600% in 7 months.

Hold BTC, ETH, XLM, XRP, SLT, AAVE, UNI. Look them up yourself on coinmaketcap, 6 month returns. Numbers do not lie. I receive 21K spark tokens for holding XRP in June, Flare Networks launch, with another drop shortly after drop. There is a chit ton ways to earn with staking. BTC is store of value, but so much more money to be made in utility. Yep, I purchased another 25K of BTC today at 58K knowing full well could drop to 20K. See ya Jan. 2025.

[island911]

Originally Posted by Skillet83

The total MC of Crypto is around 2.4T, BTC is around1.1T, just about half of total. It is the wild west, but if you research what is happening, this is where things are heading. There are fortunes to be made here. So much fokking money and development flowing in.
BTC is the headlines, but so much more happening is this space. Crypto is only 5% of my net, but up 600% in 7 months.

Hold BTC, ETH, XLM, XRP, SLT, AAVE, UNI. Look them up yourself on coinmaketcap, 6 month returns. Numbers do not lie. I receive 21K spark tokens for holding XRP in June, Flare Networks launch, with another drop shortly after drop. There is a chit ton ways to earn with staking. BTC is store of value, but so much more money to be made in utility. Yep, I purchased another 25K of BTC today at 58K knowing full well could drop to 20K. See ya Jan. 2025.

"Numbers do not lie." Sure. But your whole argument misses my fundamental point; there is no reasonable utility in Bitcoin.

your whole argument could be applied to tulip bulbs, back in the day. PLENTY of savvy speculators made big money on tulip bulbs. They talked up the value of this or that species tulip bulb, and how they clearly knew what they were talking about, just look how many of those fabulous tulip bulbs they had acquired. -"Numbers do not lie."

[Skillet83]

Originally Posted by island911

"Numbers do not lie." Sure. But your whole argument misses my fundamental point; there is no reasonable utility in Bitcoin.

your whole argument could be applied to tulip bulbs, back in the day. PLENTY of savvy speculators made big money on tulip bulbs. They talked up the value of this or that species tulip bulb, and how they clearly knew what they were talking about, just look how many of those fabulous tulip bulbs they had acquired. -"Numbers do not lie."

I do not disagree with you regarding utility and bitcoin. Bitcoin is a highly speculative savings account for me. There will be another halving at the end of 2023, I'm betting on spectacular, but who knows. The majority of my gains are coming from coins/tokens/projects that do have utility and that are taking place on a global scale. I own rentals and equities to make money. Just another asset class now that has amazing potential to make a chit tonne of money on.