Bitcoin or Gold?

[allanos]

You know, we all look to guidance from somewhere before parting with hard-earned cash. When it comes to investing, we surely do a little research, looking for some direction, a few pointers, and then make a reasoned, informed decision.  Even staying out, sitting on the fence, is a decision made to make no decision, no commitment.

 

If I look to Pay Pal, with over 300 million users, 22 million merchants, and which has taken a decision to allow transactions to be made in Bitcoin, and which they disburse to their merchants immediately in fiat (US Dollars), one has to be pretty dumb to believe they are running some kind of scam, ponzi or pyramid scheme. They are answerable to shareholders and the US Treasury, and their clients and customers, among others. On the Pay Pal platform, one can buy, sell, or hold Bitcoin.

 

I take my lead from actions such as this, decisions made by substantial players, and not from a couple of uninformed trolling naysayers on a platform like TVF.

 

Does this mean that BTC will not have a rocky path? Could it mean that with the best will in the world, BTC might go to zero? 

 

The prudent among us, no less intelligent than everyone else, have decided that BTC gives us an edge, that the reward/risk ratio (some people call it risk reward, but I believe in looking at a positive appraisal) weighs heavily, even overwhelmingly, in our favour, no doubt a consideration also given by the likes of the Pay Pal management.

 

 

[Barnabe]

1 hour ago, allanos said:

If the US makes it illegal to turn bitcoin into fiat, the UK and EU will follow suit. What do you think will happen to the price of bitcoin?

One of the foundational pillars of BTC is that it is totally removed from central control.  If anything, such hypothetical, but absolutely unrealistic, sanctions by any of the central banks could act as a catalyst to propel the BTC price to go higher, and not lower.

 

Delusional. IF bitcoin is made illegal (and I agree, hypothetical, unlikely scenario but far from impossible) the price will tank immediately. I think that's so obvious I'm not going to even continue my argument.

 

 

1 hour ago, allanos said:

 

 

And more importantly, never forget bitcoin is NOT anonymous. All transactions that you have ever done are recorded in the blockchain. This means you only really need to have one transaction where your identity was identified (such as converting to fiat in an exchange) to tie all your wallets and bitcoin together.

Fear-mongering to try to prove a point. Possible, in theory, but highly impracticable. First things first, it would require tax legislation, which could not be implemented retroactively.

 

I'm starting to think most of the bitcoin bulls in this forum have no idea how bitcoin and the blockchain works.

 

Have you ever used an exchange to buy bitcoin?

If yes, then you had to go through KYC. Your identity is tied to a wallet. Forever.

[MeePeeMai]

51 minutes ago, allanos said:

Only a couple of years ago, Jamie Dimon, of JP Morgan Chase, was so dismissive of Bitcoin that he threatened to fire any of his traders who were trading it, even if for their personal accounts. JP Morgan Chase is now one of the biggest "shills" for BTC in the market place.

 

 

That's right and now J.P. Morgan Chase is calling for an eventual bitcoin price of $146,000 plus.

 

Banks must now adapt or die.  The old systems and old ways are dying and they are finally starting to see and accept that fact. 

 

There are still many old die hard critics such as Warren Buffet, Jamie DImon, Peter Schiff (and the like) that are too proud and too close minded to ever admit that they might have been wrong about bitcoin, but that doesn't matter in the slightest as Bitcoin waits for no one.

 

We are going to see a 1 trillion dollar Bitcoin market cap soon and things should get real interesting.

 

Good luck to all no matter where or what you decide to invest in. 

 

2021 will be one hell of a ride for us all (in more ways than one)  that's for sure!  

 

 

 

 

 

 

[mr mr]

should i sell my lambo for moon boots or ? 

 

 

[Bender Rodriguez]

and nobody thinks this bubble will not burst one day or another ?

 

this is hot air and increase so much, sounds like the best pyramid scam I ever read 

[Bender Rodriguez]

59 minutes ago, MeePeeMai said:

That's right and now J.P. Morgan Chase is calling for an eventual bitcoin price of $146,000 plus.

the same that brought you 2008 credit rating A+ scandal that crashed the world economy and got even extra bonusses for the execs and a nice bail out and no jail ?   those one's ?

[MeePeeMai]

6 minutes ago, Bender Rodriguez said:

the same that brought you 2008 credit rating A+ scandal that crashed the world economy and got even extra bonusses for the execs and a nice bail out and no jail ?   those one's ?

 

That's right.

 

Those evil, corrupt, lying, cheating bastards are getting into crypto now too. 

 

They smell opportunity I guess. 

[allanos]

The likes of JP Morgan and Goldman Sachs have been forced to take a closer look at Bitcoin.  Whilst they have sat on the sidelines, other companies have made huge amounts of money, whilst these two investment banks' clients have not only not prospered, they have gone backwards.

 

Those same clients would have been asking, "why have you not recommended Bitcoin as a portion of my portfolio"? "Why is my performance lagging the returns that my peers are boasting about"?

 

JP Morgan and Goldman's are now trying to catch up.

[bkk6060]

I got in around 30,000.

Could take a big dump whatever I will hang onto it long term.

In 10 years I bet it is much much higher

Edited January 7, 2021 by bkk6060

[MeePeeMai]

4 minutes ago, bkk6060 said:

I got in around 30,000.

Could take a big dump whatever I will hang onto it long term.

In 10 years I bet it is much much higher

 

Congrats!

You won't have to wait 10 years! 

[Neeranam]

1 hour ago, allanos said:

The likes of JP Morgan and Goldman Sachs have been forced to take a closer look at Bitcoin.  Whilst they have sat on the sidelines, other companies have made huge amounts of money, whilst these two investment banks' clients have not only not prospered, they have gone backwards.

 

Those same clients would have been asking, "why have you not recommended Bitcoin as a portion of my portfolio"? "Why is my performance lagging the returns that my peers are boasting about"?

 

JP Morgan and Goldman's are now trying to catch up.

I firmly believe Jamie Dimon was secretly buying while spreading FUD, disgusting piece of ****

[ThailandRyan]

2 minutes ago, Neeranam said:

I firmly believe Jamie Dimon was secretly buying while spreading FUD, disgusting piece of ****

A true disinformation campaign I believe he was on.  Waiting to see how much Warren Buffet has invested.

[Neeranam]

1 hour ago, bkk6060 said:

I got in around 30,000.

Could take a big dump whatever I will hang onto it long term.

In 10 years I bet it is much much higher

I'm pretty sure you'll look back and laugh at getting in at 30k.

I used to everyone should have at least 1 bitcoin, but know I say, "everyone should have at least 0.1 BTC, which is $100,000 in a few years.

[MeePeeMai]

Another new ATH 38k √

 

 

[mr mr]

anyone who even bought btc 2 days ago when this thread started is already up 20 percent. 18k come to daddy. 

[bkk6060]

Near 40,000 at close today.

Nasdaq up over 300.

 

I think a lot of this is young investors.  Same as Tesla, etc.

But, the big boys will start getting more in I bet.

 

Also, I am no expert at all, but you can buy small fractions of a single Bitcoin.  You do not have to put up the full price you can buy 1/10/1/20, whatever.

Edited January 7, 2021 by bkk6060

[ThailandRyan]

Ethereum up at almost 1300 today so far.  Looking good.

[MeePeeMai]

small supply vs H U G E  D E M A N D 

 

√  40k

    50k

    65k

   100k

 

[mr mr]

how low is the dump going to go ? 18 k ? 

 

xrp ? 

[Neeranam]

1 hour ago, mr mr said:

how low is the dump going to go ? 18 k ? 

 

xrp ? 

Never will go to 18k again, there are just too many people in the sidelines waiting to buy. Michael Saylor, I believe bough $1,000,000,000 worth of BTC recently, some over that price. Bitcoin is like gold now ???? Soon, people will be saying "as brilliant as bitcoin" rather than "as good as gold". 

This bull run is different tot the previous ones, and although there is a good chance of a 20% consolidation, it is nothing in the grand scheme of things. Plus atm, it is up over 25% since this thread began!

I expect $50k by this time next week. 

 

 

 

Edited January 8, 2021 by Neeranam

[Heng]

And just think of how many coins will be lost by all the millions of newbies just figuring out how things work.   Those who have had their own learning curves from the early days know what I'm talking about.    

[JeffersLos]

9 hours ago, MeePeeMai said:

small supply vs H U G E  D E M A N D 

 

√  40k

    50k

    65k

   100k

 

 

It may hit 100k in 2-4 years, it will likely hit 20k before it hits 65k.

[JeffersLos]

4 hours ago, Neeranam said:

there are just too many people in the sidelines waiting to buy.

 

People were maxing out credit cards and remortgaging their houses to buy bitcoin right when it crashed last time. 

[Heng]

True, but I think institutional money has raised the ocean floor a bit.   

[Neeranam]

2 hours ago, JeffersLos said:

 

People were maxing out credit cards and remortgaging their houses to buy bitcoin right when it crashed last time. 

It crashed at $19,000 last time, 3 years ago, now it is $39,000. Still a good return, even if they foolishly bought at the top. 

Even if you know nothing about bitcoin, if you buy and wait, you can't go wrong. 

 

 

 

 

Edited January 8, 2021 by Neeranam

[mr mr]

2 hours ago, Heng said:

True, but I think institutional money has raised the ocean floor a bit.   

 

they can weather a huge crash. normal people will lose their shirt. 18k please. lol

[Heng]

17 minutes ago, mr mr said:

 

they can weather a huge crash. normal people will lose their shirt. 18k please. lol

 

"They," and a lot of 'normal people' could care less about the 'other normal people' who may lose their shirts.  This isn't a team sport.  ????     

[mr mr]

2 minutes ago, Heng said:

 

"They," and a lot of 'normal people' could care less about the 'other normal people' who may lose their shirts.  This isn't a team sport.  ????     

 

this coming dump will be as epic as the last year has been. if i am wrong so be it. i will flog myself. 

[Heng]

1 minute ago, mr mr said:

 

this coming dump will be as epic as the last year has been. if i am wrong so be it. i will flog myself. 

 

Gotta love epic.  On the other side, the new batch of checks to US millennials who don't know what tulips are should help the upside for a nice 20-50 points.   Hear there's even more money printing in the works under Joe....   

[mr mr]

11 minutes ago, Heng said:

the new batch of checks to US millennials who don't know what tulips are

 

so buy doge now then ?