Bitcoin price rises past $50,000 as rebound continues

[utalkin2me]

On 8/23/2021 at 11:24 PM, GrandPapillon said:

yeah, they said the same thing back in 2015, and look where we are now, nothing changed and Cryptos didn't take over the world finance ????

 

I am just laughing at gullible idiots who think cryptos will change the world financial system, when they don't even have the basics to understand the complexity of the world financial system.

 

Hency why cryptos will fail eventually,

A country is using it as legal tender. Be wrong all you want man, it’s your prerogative. 

[utalkin2me]

21 hours ago, Airalee said:

Question for you regarding Coinbase as I recently made a small(ish) investment in it.

 

Now that PayPal (in addition to major investment firms) has recently announced that they will give people the ability to buy and sell crypto currencies, what do you see as the future for Coinbase?  
 

Will these new entrants to the market have not only the long time brand recognition (and financial clout) to ultimately render Coinbase a “nobody” in the end?  I have read of people complaining that Coinbase fees are too high, so what is stopping the “big players” from undercutting them and ultimately killing any value as an investment much like Walmart and Amazon did with smaller retailers?

 

Just curious as to your opinion.

Use strike app man. 

[Tanomazu]

4 minutes ago, Heng said:

And what was that point reflective of?    Yes, it's volatile. 

 

Myself I like to have some 'risk on' assets in my portfolio.   I'm mostly risk off as I'm middle aged but there would be nothing to check up on if it were all risk off. 

Well, that's exactly my point. To make money you have to tolerate some risk. No risk equals no reward. And the odds are that the market moves in waves and you get back what you lost unless you were really stupid or unlucky.

[utalkin2me]

I always laugh when people say it’s volatile. It’s volatile up. I swear topic after topic, covid included, people just can’t figure stuff out. 
 

Volitility =options to be able to get out at a great profit, and get back in at a severe discount. It’s a positive for the asset, considering it’s overall trend, not a drawback. 

[Tanomazu]

1 minute ago, utalkin2me said:

I always laugh when people say it’s volatile. It’s volatile up. I swear topic after topic, covid included, people just can’t figure stuff out. 
 

Volitility =options to be able to get out at a great profit, and get back in at a severe discount. It’s a positive for the asset, considering it’s overall trend, not a drawback. 

Depends on your style I guess, if you are a day trader then absolutely, volatility is your friend. However, if you hold very long term, it can be a problem if you happen to need the cash during a dip.

[GrandPapillon]

1 hour ago, utalkin2me said:

A country is using it as legal tender. 

countries that have substantial problem with having solid fiscal policy and can't hold a government budget

 

let's see how long this last, but it does smell desperate ????

 

anyway, no future as a stable legal tender, great for speculation though

[Sametboy2019]

On 8/23/2021 at 11:24 PM, GrandPapillon said:

yeah, they said the same thing back in 2015, and look where we are now, nothing changed and Cryptos didn't take over the world finance ????

 

I am just laughing at gullible idiots who think cryptos will change the world financial system, when they don't even have the basics to understand the complexity of the world financial system.

 

Hency why cryptos will fail eventually,

I'm sorry but you have no idea. You need to expand your knowledge. There are cryptos that are solving on demand liquidity right now. The ability to transfer one currency to another and then back to the recipient in less than 5 seconds.

Alot of crypto is nonsense so that's why you need to do your research and buy something that has a utility. 

In 5 years there there will be very few countries with paper money.

[utalkin2me]

3 hours ago, Tanomazu said:

Depends on your style I guess, if you are a day trader then absolutely, volatility is your friend. However, if you hold very long term, it can be a problem if you happen to need the cash during a dip.

Put two point on a graph. Bitcoins initial price and its current price. Draw a line between two lines to erase noise. 

[utalkin2me]

2 hours ago, GrandPapillon said:

countries that have substantial problem with having solid fiscal policy and can't hold a government budget

 

let's see how long this last, but it does smell desperate ????

 

anyway, no future as a stable legal tender, great for speculation though

Someone said “look where Bitcoin is now”, comparing its status to some time in the past. 
 

Try and spin it all you want, and entire country is using it as their legal tender. It’s citizens are able to remit amounts for free, anywhere in the world. And, other Latin American countries are reporting they are considering the same thing. So…? 
 

Your comments are very ill informed. Look into the way in which the El Salvadorians are able to use it. It’s better than your bank. They can accept Bitcoin, or they can get the accepted sum as cash (in case you didn’t like btc, so an extra option you don’t have). They can send it anywhere for free, any time, immediate, in any amount, and no questions from a banker about what it’s for or who it’s going to. I say this over and over in this forum you’ll have to forgive me, but it is a no brainer… their bank accounts beat yours. Why would others not change?

 

I think where you are going wrong is you think it’s just Bitcoin, all or nothing. But the truth is Bitcoin is just the way the currency is transferred, you can get (or make) the incoming transfer into any currency you see fit. It’s all the options and then some, without the bankers, the regulations and the red tape and waiting weekends to send money and waiting up to a week for intl transfers. 
 

Honeslty, how in anyone’s right mind can you not know this is going to take off is beyond me. 

[Tanomazu]

38 minutes ago, utalkin2me said:

Put two point on a graph. Bitcoins initial price and its current price. Draw a line between two lines to erase noise. 

Sure, but what if you had to access your cash in June? When BTC had just crashed.

[bartender100]

Cryptos are in their infancy, just 12 years since BTC launched, the future is golden we are entering The Digital Era for mankind, many coins will be 100x price from where they are now

 

In just a few years, all money transactions will be with some form of Crypto

[GrandPapillon]

2 hours ago, bartender100 said:

Cryptos are in their infancy, just 12 years since BTC launched, the future is golden we are entering The Digital Era for mankind, many coins will be 100x price from where they are now

 

In just a few years, all money transactions will be with some form of Crypto

Bitcoins started in 1999 or 2000 I believe, it has been 21 years already, and still not moving into anything mainstream

 

if it had to happen, it would have happened already

[GrandPapillon]

3 hours ago, Sametboy2019 said:

I'm sorry but you have no idea. You need to expand your knowledge. There are cryptos that are solving on demand liquidity right now. The ability to transfer one currency to another and then back to the recipient in less than 5 seconds.

 

Alot of crypto is nonsense so that's why you need to do your research and buy something that has a utility. 

In 5 years there there will be very few countries with paper money.

you are still spinning a story that doesn't solve any pain or a problem. Who cares if you can transfer in 5sec or less. Here is Europe I can do instant transfer under 1 min with SEPA and I don't even need bitcoins and a thousand GPUs farms to do so.

 

You guys are blinded by your own tech BS, you fell in love with cryptos and are desperate to find a user case for it.

 

Apart from money laundering and speculation, there is no use case. Until there is one, it will remain a PoC for geeks.

Edited August 25, 2021 by GrandPapillon

[GrandPapillon]

2 hours ago, utalkin2me said:

I think where you are going wrong is you think it’s just Bitcoin, all or nothing. But the truth is Bitcoin is just the way the currency is transferred, you can get (or make) the incoming transfer into any currency you see fit. It’s all the options and then some, without the bankers, the regulations and the red tape and waiting weekends to send money and waiting up to a week for intl transfers. 
 

Honeslty, how in anyone’s right mind can you not know this is going to take off is beyond me. 

because it's not solving any problem. Weeks for a transfer? in what country is that still happening? and are you that desperate for money that you can't wait 24h for a simple transfer? how is that a life threatening problem or a pain that needs immediate remedies? wait, it doesn't ????

 

the regulations will not go away, even with cryptos, that's why you guys keep missing. It's there to stay. There is about 50 years of legislation that will not disappear overnight, or ever for that matter. Au contraire, regulators are increasing the pressure every year, and it has nothing to do with technology or how fast you can do a transfer so you can buy your beers in Nana ????

Edited August 25, 2021 by GrandPapillon

[ukrules]

50 minutes ago, GrandPapillon said:

Bitcoins started in 1999 or 2000 I believe, it has been 21 years already, and still not moving into anything mainstream

 

if it had to happen, it would have happened already

Lol, there you go telling someone who mentioned the accurate age of Bitcoin that they're wrong.

 

January 2009 FYI, 12 years ago.

[The Cipher]

7 hours ago, Tanomazu said:

if you hold very long term, it can be a problem if you happen to need the cash during a dip

If a person is in this situation, they are overinvested and may not understand their strategy or horizon. Genuine very long term investors should be volatility agnostic in the short and medium terms, as long as the general price trajectory is up.

 

Large drawdowns are currently a feature of the illiquid and highly levered crypto markets. As a general statement if a -50-80% price movement affects your day to day lifestyle, you've invested too much.

[GrandPapillon]

37 minutes ago, ukrules said:

Lol, there you go telling someone who mentioned the accurate age of Bitcoin that they're wrong.

 

January 2009 FYI, 12 years ago.

LOL, my memory tricked me, 2009 is like yesterday, thought it was much older than that ????

 

oops!! honest mistake ????

[GrandPapillon]

still 12 years, should have happened already, but it didn't ????

[utalkin2me]

https://www.nasdaq.com/articles/can-bitcoin-grow-faster-than-the-internet-2021-05-07

[bartender100]

5 hours ago, GrandPapillon said:

still 12 years, should have happened already, but it didn't ????

 

1 hour ago, utalkin2me said:

https://www.nasdaq.com/articles/can-bitcoin-grow-faster-than-the-internet-2021-05-07

Great find

 

"Grand Papillon" I have made more money from crypto than I ever dreamed of, but I studied them hours a day for the last 5 years when I stopped investing in the stock market bar one stock,, read that article it's only just getting started, and I have never even owned  BTC.

 

. How can you say "should have happened already, but it didn't," the statement is crazy

 

NFT's are now taking off in a massive way, yet I bet 80% of people do not even know what they are

[Heng]

10 hours ago, The Cipher said:

If a person is in this situation, they are overinvested and may not understand their strategy or horizon. 

Part of the antivaxx/anticrypto spiel is the supposition that you must be all in or anti legacy banking.  A lot of us use crypto to fill/fund legacy banking and traditional investment instruments. 

[mjnaus]

13 hours ago, GrandPapillon said:

desperate for money that you can't wait 24h for a simple transfer? how is that a life threatening problem or a pain that needs immediate remedies? wait, it doesn't

This statement alone shows how truly ignorant you are. You claim to be some financial "expert", yet you can't see the massive, massive benefits from achieving settlement in seconds instead of days? You still expect anyone here to have a serious discussion with you about finance and crypto? 

[GrandPapillon]

47 minutes ago, mjnaus said:

This statement alone shows how truly ignorant you are. You claim to be some financial "expert", yet you can't see the massive, massive benefits from achieving settlement in seconds instead of days? You still expect anyone here to have a serious discussion with you about finance and crypto? 

me being a "financial expert" has nothing to do with solving an immediate pain for the mainstream public ????

 

but cryptos claim we need to address this issue,

 

achieving settlement in seconds is not resolving anything, above all in a world where compliance is asking for more time to do all things financial.

 

people don't wake up in the morning thinking that settlements should be settled in seconds instead of days ????

 

you guys are barking at the wrong trees with that use case, and that's the problem, and you are not doing any favor to cryptos with your weak arguments and weak use case

 

find me a reason and a real use case to use cryptos, and I would be on board ASAP ????

[GrandPapillon]

6 hours ago, bartender100 said:

 

Great find

 

"Grand Papillon" I have made more money from crypto than I ever dreamed of, but I studied them hours a day for the last 5 years when I stopped investing in the stock market bar one stock,, read that article it's only just getting started, and I have never even owned  BTC.

 

. How can you say "should have happened already, but it didn't," the statement is crazy

 

NFT's are now taking off in a massive way, yet I bet 80% of people do not even know what they are

trading cryptos is not using cryptos for payments in your daily life, that's what I was referring to.

 

The fact that clueless amateurs are making millions in something based on fairy tales is just raising too many red flags, but of course, we will see the real damages when the sh*t hits the fan and every winners become a loser, and start to be very quiet about it ????

[GrandPapillon]

8 hours ago, utalkin2me said:

https://www.nasdaq.com/articles/can-bitcoin-grow-faster-than-the-internet-2021-05-07

it's published on the internet, like tea leaves, it should be true then ????

[userabcd]

12 minutes ago, GrandPapillon said:

it's published on the internet, like tea leaves, it should be true then ????

Now you are even doubting news sources on a reputable financial news source.

[GrandPapillon]

1 minute ago, userabcd said:

Now you are even doubting news sources on a reputable financial news source.

well, every journalist is entitled to his opinion and analysis, doesn't mean they get it right 100%

 

something written in the newspaper doesn't predict the future automatically, duh!!

 

if a Forbes article was to say that the DOW will jump 100% in the next 6 months, it's still not fact, just an opinion

 

you guys are so desperate, you hang yourself to any news headlines and articles that promote in some positive ways bitcoins as some kind of "universal" validation, when in reality, it's just a written opinion by a journalist to "sell" a story

[mjnaus]

 

39 minutes ago, GrandPapillon said:

people don't wake up in the morning thinking that settlements should be settled in seconds instead of days ????

 

Lol, I am not even going to pull that thread. Please feel free to continue telling yourself that instant settlement does not matter and that the whole world is perfectly fine waiting days on transactions to be settled.

 

39 minutes ago, GrandPapillon said:

find me a reason and a real use case to use cryptos, and I would be on board ASAP ????

South Korean crypto project achieving adoption 

 

A few excerpts from the article:

 

"A payments platform known as ‘Chai’ is allowing around 2.2 million users to transact the Korean Won stablecoin (KRT) with thousands of merchants, including Nike Korea. ",

"Most of the consumers would not even know they’re using blockchain technology, nor do they need to know.  "

 

Furthermore, the block explorer for the Chai payment network indicates the following transactions stats:

 

- daily payment volume (in KRW):  2,119,256,324

- daily active users: 61,526

- daily transactions: 107,736

- total users (in South Korea): 2,479,000

 

These are all data points for the Chai payment network, used by millions of South Koreans, to pay for groceries, fuel, etc. All transactions take place in KRW based stable coins. Other on chain metrics indicate that a large portion of the transacted stable coins are NOT converted to fiat KRW; ie users keep their crypto KRW since they're able to use these a rapidly growing number of merchants. 

 

Now, let's see what mental gymnastics you'll be pulling to dismiss this as fake, PR nonsense, or whatever.  

Edited August 26, 2021 by mjnaus

[GrandPapillon]

1 minute ago, mjnaus said:

 

Lol, I am not even going to pull that thread. Please feel free to continue telling yourself that instant settlement does not matter and that the whole world is perfectly fine waiting days on transactions to being settled.

it might be important to you, but not for the majority of the world population ????

 

and settlements take less than 48h these days, hardly painful for everyone "normal"

[GrandPapillon]

6 minutes ago, mjnaus said:

South Korean crypto project achieving adoption 

 

A few excerpts from the article:

 

"A payments platform known as ‘Chai’ is allowing around 2.2 million users to transact the Korean Won stablecoin (KRT) with thousands of merchants, including Nike Korea. ",

"Most of the consumers would not even know they’re using blockchain technology, nor do they need to know.  "

 

Furthermore, the blockexplore for the Chai payment network indicates the following transactions stats:

- daily payment volume (in KRW):  2,119,256,324

- daily active users: 61,526

- daily transactions: 107,736

- total users (in South Korea): 2,479,000

 

These are all data points for the Chai payment network, used by millions of South Koreans daily, to pay for groceries, fuel, etc. All transactions take place in KRW based stable coins. Other on chain metrics indicate that a large portion of the transacted stable coins are NOT converted to fiat KRW; ie users keep their crypto KRW since they're able to use these a rapidly growing number of merchants. 

 

Now, let's see what mental gymnastics you'll be pulling to dismiss this as fake, PR nonsense, or whatever.  

so users are using KRW, not cryptos, and this is your validation that cryptos are used for payments? ????

 

and the company uses BLT (not cryptos) to "transac" with users in KRW (local currency), not cryptos, and again this is your validation for cryptos? ????

 

do you guys actually understand what you are reading, past the buzz words and the mentions of BLT and crypto in the article? you are all desperate for a use case but can't find one ????

Edited August 26, 2021 by GrandPapillon