OT- Bitcoin
- Thread starter redwine65
- Start date
It's backed by the most powerful/influential country in the world. with the biggest GDP (for now).
What happens when USA financial institutions and citizens adopt bitcoin
I don't see that happening anytime soon. Bitcoin is too volatile to make it a reliable vehicle in which to store value over long periods of time.
the US dollar just lost 8% of its overall value this year...seems pretty volatile. Especially when value is unpredictable based on fed decisions. Bitcoin value is 100% predictable and in long run with systematic halving already programmed with zero information asymmetry.
You should probably take your profits before it drops to under 10,000. Crypto winter is here
Love it that Trump lives rent free in your head. It's been over a year, you should probably evict him. Viva La Trump!
I have enjoyed reading about bitcoin in this thread...special thanks to the folks who will get this nuked. Sarc/
600 years ago tulips were worth a lot.
If someone will give effort or good, it has value, whether you agree or not.
I would say you're just not open to change and improvement. You will be eventually.
lol you should be buying sh_t you don't understand. The dollar is a currency, bitcoin is a worthless asset like a pet rock.
Or MIT billionaire rocket scientist Michael Sailor.
Trying so hard to tell people theyre fools for being interested in something that has turned millions into millionaires, is being adopted faster than the internet and has a market cap of $800B sounds like jealousy.
The guys that bash the USD and our irresponsible spending will eventually be right about the collapse of the US dollar, but not for quite some time yet.
If anyone has followed what has happened in Turkey recently, you know that their currency has fallen by at least 50%, and many people in Turkey have switched to the US dollar, hoping to maintain some of their purchasing power, while the Turk Govt tries to get citizens to sell their gold to help prop up the Turkish Lira.
This is a scene that could play out again and again, all over the world, further entrenching the US dollar as the world reserve currency.
It is only after most weaker currencies/economies fail, that we run the risk of currency failure.. so that is some time down the road, not in the short to medium term.
Crypto is not a store of value yet, but rather still an experiment, a nascent but maturing financial market, that will not be going away, and in time will replace legacy finance as we know it.
I'm starting to look for bottoms in some coins. We aren't there yet, but I think we are starting to get closer.
If anyone has followed what has happened in Turkey recently, you know that their currency has fallen by at least 50%, and many people in Turkey have switched to the US dollar, hoping to maintain some of their purchasing power, while the Turk Govt tries to get citizens to sell their gold to help prop up the Turkish Lira.
This is a scene that could play out again and again, all over the world, further entrenching the US dollar as the world reserve currency.
It is only after most weaker currencies/economies fail, that we run the risk of currency failure.. so that is some time down the road, not in the short to medium term.
Crypto is not a store of value yet, but rather still an experiment, a nascent but maturing financial market, that will not be going away, and in time will replace legacy finance as we know it.
I'm starting to look for bottoms in some coins. We aren't there yet, but I think we are starting to get closer.
I honestly don't even expect it but low % chance ... same as market crash %. I think $17k is a lot more realistic though.
Pretty sure the people in Russia would have preferred their money to be in bitcoin instead of rubles? The US dollar may be the last to go, but for a lot of **** hole countries, I could see citizens turning fast to crypto instead of holding on to some paper that no American citizen even knows how to pronounce or what hemisphere it came from.
I posted in the market thread in the open scrolls that I expected a squeeze lasting a few weeks, but I will say the amount of volume over $40k was surprising. It's almost like somebody knows the Fed is going to continue QE and refrain from all the rate hikes it had planned...
So view is still intact and should know by mid-March what the deal is.
For most people, the USD and legacy financial markets are safer than current crypto markets. As crypto matures, that will begin to change but we aren’t there yet.
There were a few Tulip Bulp Billionaire equivalents in the Netherlands, same with the South Sea Bubble. Nothing new under the sun.