Crypto trading

[Who Dares Win]

Notice btc once again tracks the stock market, both going down due to evergrande.

It seems to me like both the markets and crypto are funded by the same funny money. They will crash together when everything falls apart.

Its a well know fact as much as the fact that the S&P500 grew from 3281 to 4357 in the last year while btc grew from 10.923$ to 43.426$ in the same time span.

 

[Valo85]

I wish I had bought it earlier

 

[BackInTheGame78]

I wish I had bought it earlier

Everyone does haha

 

[Valo85]

Everyone does haha

 

[BackInTheGame78]

It's still at the end of the beginning. These prices will be cheap 5 years from now.

 

[Bingo-Player]

It's still at the end of the beginning. These prices will be cheap 5 years from now.

how high are you expecting them to go ?

i mean whatever way you want to tart it up its an idiosyncratic asset that's value model is structured like a ponzi scheme

the more expensive it gets the bigger the market cap will need to be to keep the people at the bottom in "profit"

( the biggest problem being nobody actually needs it that badly )

 

[BackInTheGame78]

how high are you expecting them to go ?

i mean whatever way you want to tart it up its an idiosyncratic asset that's value model is structured like a ponzi scheme

the more expensive it gets the bigger the market cap will need to be to keep the people at the bottom in "profit"

( the biggest problem being nobody actually needs it that badly )

500K or higher

 

[andreihaha]

500K or higher

That's pretty optimistic

 

[BackInTheGame78]

That's pretty optimistic

Only because you don't get it. But you will.

Many would say that is under selling it. Plan B's S2F model calls for $1 million per BTC, and that's pretty much been the gold standard for price accuracy

 

[jaygreenb]

Only because you don't get it. But you will.

Many would say that is under selling it. Plan B's S2F model calls for $1 million per BTC, and that's pretty much been the gold standard for price accuracy

Twitter incorporating the lightening network is a pretty big deal, it is basically an international almost free payment network now. Believe for the model to stay in tact we have to break 100k by year end. 500k by 2025/26ish is very likely with current adoption rates/trends unless something catastrophic happens. Obviously you know where my bets are placed.

Twitter to Add Bitcoin Lightning Tips, NFT Authentication

Tipping, including with bitcoin, will be live on iOS immediately.

www.coindesk.com

 

[jaygreenb]

Notice btc once again tracks the stock market, both going down due to evergrande.

It seems to me like both the markets and crypto are funded by the same funny money. They will crash together when everything falls apart.

This is the guy who owns strike and integrated the lightning network with twitter. This is going to completely disrupt the payment processing industry. You can process USD payments for next to zero on the bitcoin payment rails. You should watch this with an open mind.

 

[Bible_Belt]

This is the guy who owns strike and integrated the lightning network with twitter. This is going to completely disrupt the payment processing industry. You can process USD payments for next to zero on the bitcoin payment rails. You should watch this with an open mind.

I don't dispute it is neat stuff, but if the transaction is illegal, like it is now in China, that will throw a damper on things. What are the Chinese btc owners supposed to do now, hold forever?

Why China Finally Decided to Ban Bitcoin

Beijing concluded it was an energy sucking money laundering tool, among other things.

slate.com

"U.S. regulators are training their sights on Bitcoin as well. Securities and Exchange Commission Chair Gary Gensler spoke at length about cryptocurrencies in an event hosted by the Washington Post on Tuesday, and he didn’t seem too optimistic about their future. Gensler noted that he doesn’t think there’s a “long-term viability” and later signaled that the SEC is working “overtime” to create new regulations for cryptocurrency markets that are likely to be quite a bit more aggressive than what’s already on the books. Of particular concern for the cryptocurrency is that Gensler left the door open to regulating stablecoins, or cryptocurrency that’s pegged to fiat currency, as securities. If that were to be the case, a number of cryptocurrency lending and trading platforms would be in serious violation of SEC rules. Say a prayer for the winklevii."

 

[andreihaha]

Only because you don't get it. But you will.

Many would say that is under selling it. Plan B's S2F model calls for $1 million per BTC, and that's pretty much been the gold standard for price accuracy

I just said it's quite optimistic. Even if you just consider trends, and not any outside influence, like government involvement and other taxes.

Judging by your attitude, it feels like you've put so much money into it that you really have to believe it will get to more than 10x in 5 years. Which to me is fiction, when it's already around 50k USD.

Don't get me wrong, I got a few $ in it, but I'm trying to be realistic. I consider all the money I put in crypto lost, and if something good happens, good.


LE: BTC is going down pretty hard again, hasn't been so low in quite a while. So buy some more, I guess.

 

[BackInTheGame78]

I just said it's quite optimistic. Even if you just consider trends, and not any outside influence, like government involvement and other taxes.

Judging by your attitude, it feels like you've put so much money into it that you really have to believe it will get to more than 10x in 5 years. Which to me is fiction, when it's already around 50k USD.

Don't get me wrong, I got a few $ in it, but I'm trying to be realistic. I consider all the money I put in crypto lost, and if something good happens, good.


LE: BTC is going down pretty hard again, hasn't been so low in quite a while. So buy some more, I guess.

It has nothing to do with how much money I have in it, moreso that the blockchain is causing a paradigm shift in the way the entire world operates on every level and will effect everything we do on a day to day basis within 5 years.

It would be like betting against the internet right before it took off after it had been around for a while once people started realizing all the possibilities it had and started developing them. That's why I said you don't get it. There will not be a single thing that you do on a day to day basis in 5 years that doesn't use Blockchain technology in some way.

Q4 is going to melt faces in terms of BTC skyrocketing to new highs. There are going to be a lot of people on the wrong side of history. I won't be one of them.

 

[BackInTheGame78]

I don't dispute it is neat stuff, but if the transaction is illegal, like it is now in China, that will throw a damper on things. What are the Chinese btc owners supposed to do now, hold forever?

Why China Finally Decided to Ban Bitcoin

Beijing concluded it was an energy sucking money laundering tool, among other things.

slate.com

"U.S. regulators are training their sights on Bitcoin as well. Securities and Exchange Commission Chair Gary Gensler spoke at length about cryptocurrencies in an event hosted by the Washington Post on Tuesday, and he didn’t seem too optimistic about their future. Gensler noted that he doesn’t think there’s a “long-term viability” and later signaled that the SEC is working “overtime” to create new regulations for cryptocurrency markets that are likely to be quite a bit more aggressive than what’s already on the books. Of particular concern for the cryptocurrency is that Gensler left the door open to regulating stablecoins, or cryptocurrency that’s pegged to fiat currency, as securities. If that were to be the case, a number of cryptocurrency lending and trading platforms would be in serious violation of SEC rules. Say a prayer for the winklevii."

The lawsuits and appeals would render this moot for many years and there is a high probability the SEC would lose on a good number of points.

 

[BackInTheGame78]

I don't dispute it is neat stuff, but if the transaction is illegal, like it is now in China, that will throw a damper on things. What are the Chinese btc owners supposed to do now, hold forever?

Why China Finally Decided to Ban Bitcoin

Beijing concluded it was an energy sucking money laundering tool, among other things.

slate.com

"U.S. regulators are training their sights on Bitcoin as well. Securities and Exchange Commission Chair Gary Gensler spoke at length about cryptocurrencies in an event hosted by the Washington Post on Tuesday, and he didn’t seem too optimistic about their future. Gensler noted that he doesn’t think there’s a “long-term viability” and later signaled that the SEC is working “overtime” to create new regulations for cryptocurrency markets that are likely to be quite a bit more aggressive than what’s already on the books. Of particular concern for the cryptocurrency is that Gensler left the door open to regulating stablecoins, or cryptocurrency that’s pegged to fiat currency, as securities. If that were to be the case, a number of cryptocurrency lending and trading platforms would be in serious violation of SEC rules. Say a prayer for the winklevii."

Not all lawmakers think that way and they ultimately can create laws to reign in what the SEC can and cannot do.

US Lawmakers See China's Authoritarian Crackdown on Crypto as Big Opportunity – Regulation Bitcoin News

Several U.S. lawmakers see China’s authoritarian crackdown on cryptocurrency, including bitcoin, as “a perfect opportunity for American leadership on cryptocurrency.” One senator noted that it is "a reminder of our huge structural advantage over China.”

news.bitcoin.com

 

[jaygreenb]

I don't dispute it is neat stuff, but if the transaction is illegal, like it is now in China, that will throw a damper on things. What are the Chinese btc owners supposed to do now, hold forever?

Why China Finally Decided to Ban Bitcoin

Beijing concluded it was an energy sucking money laundering tool, among other things.

slate.com

"U.S. regulators are training their sights on Bitcoin as well. Securities and Exchange Commission Chair Gary Gensler spoke at length about cryptocurrencies in an event hosted by the Washington Post on Tuesday, and he didn’t seem too optimistic about their future. Gensler noted that he doesn’t think there’s a “long-term viability” and later signaled that the SEC is working “overtime” to create new regulations for cryptocurrency markets that are likely to be quite a bit more aggressive than what’s already on the books. Of particular concern for the cryptocurrency is that Gensler left the door open to regulating stablecoins, or cryptocurrency that’s pegged to fiat currency, as securities. If that were to be the case, a number of cryptocurrency lending and trading platforms would be in serious violation of SEC rules. Say a prayer for the winklevii."

Bitcoin and the rest of the crypto currencies are completely different animals. What Gensler is referencing is most cryptos will be considered securities, it has been made clear Bitcoin is not. Gensler is actually a bitcoiner, you can find old videos of him raving about it. It isn't completely clear what future regulations will look like but you can not fight tech and innovation. The China comparison doesn't make your case, they have a long history of banning tech that has gone on to be revolutionary. Bitcoin has already been labeled property and free speech in the courts and we have property rights in the US. No doubt there will be some regulations but I am confident they are not going to kill this whole industry, there is too much support and all that money, innovation and brain power would flow to other countries. China banning is actually a huge misstep and an opportunity for the US to grab that future growth.

 

[BackInTheGame78]

Bitcoin and the rest of the crypto currencies are completely different animals. What Gensler is referencing is most cryptos will be considered securities, it has been made clear Bitcoin is not. Gensler is actually a bitcoiner, you can find old videos of him raving about it. It isn't completely clear what future regulations will look like but you can not fight tech and innovation. The China comparison doesn't make your case, they have a long history of banning tech that has gone on to be revolutionary. Bitcoin has already been labeled property and free speech in the courts and we have property rights in the US. No doubt there will be some regulations but I am confident they are not going to kill this whole industry, there is too much support and all that money, innovation and brain power would flow to other countries. China banning is actually a huge misstep and an opportunity for the US to grab that future growth.

As is referenced in my post above quoting US Lawmakers saying the same thing pretty much.

 

[jaygreenb]

As is referenced in my post above quoting US Lawmakers saying the same thing pretty much.

One other thing I would add as well. The people in this industry are incredibly intelligent, passionate and are becoming very wealthy and with that more influential. This group is growing at an incredible pace and becoming a force to be reckoned with. I would not bet against them. Many are willing to die on this hill, myself included. I am also willing to vote with my wallet and my feet if needed.

 

[andreihaha]

There will not be a single thing that you do on a day to day basis in 5 years that doesn't use Blockchain technology in some way.

That seems more than unlikely. Maybe in 50 years, not 5.