Bitcoin, buy it now - $0 ho hum

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  • Yellen said cryptocurrency transactions were used "mainly for illicit financing."

Its too late for that ya dumb old bat!

BTC has big swings.

The FACT that it broke 20k after 2+ years in the dumps is a HUGE bullish signal.
the FACT that large institutions are investing in it is protection from Govt regulation

well be at $50k soon, $100k is coming, see the first post in this thread about halving
BUT
it likely will retrace all the way back to 20k on that journey
 
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Two decades ago, General Tommy Franks-- commander of the original US invasion of Afghanistan back in 2001-- was asked his opinion about a civilian bureaucrat named Doug Feith.


Feith was an academic policy wonk who, despite never having served in the military, was a staunch warmonger who was happy for other people to go fight and die in foreign lands.


General Franks was a straight-talking Texan who wasted no words in his opinion that Feith was “the dumbest fucking guy on the planet.”


Over the years of this publication, I have, from time to time, submitted some candidates for what I call the ‘Tommy Franks Award’.


As you can imagine there’s pretty stiff competition for the dumbest f’ing person on the planet, especially these days. But I feel especially compelled right now to nominate the World Economic Forum.


Traditionally the World Economic Forum’s annual event in Davos, Switzerland has been a pageant of wealth and power.


If you’re there, you’ve made it… at least in the eyes of the global elite; it’s nothing but billionaires and politicians. And in the past, the event was typically just photo ops and pointless speeches.


But lately the World Economic Forum has been much more active in cranking out horrifically stupid policy ideas.


For example, the Forum wants human beings (i.e. us peasants) to be conditioned to eat WEEDS and insects in order to save the planet.


The Forum’s founder Klaus Schwab also penned a book last year entitled Covid 19: The Great Reset, which pushes for a radical agenda involving Green New Deals, strict people controls, “solidarity” taxes, debt defaults, and more.


As Schwab announced last year alongside Prince Charles (who is totally relevant with respect to global economic matters),


“Every country, from the United States to China, must participate, and every industry, from oil and gas to tech, must be transformed. . . In short, we need a ‘Great Reset’ of capitalism.”


They’re not even hiding their agenda-- they’re boldly stating that they want to ‘reset’ the economic system that is responsible for the greatest amount of prosperity that has ever existed in the history of the world.


And over the next few days, the World Economic Forum is unveiling more about its Great Reset initiative.


Yesterday they held a live virtual panel entitled “Resetting Digital Currencies”. And, naturally they sought out the finest ‘experts’ in cryptocurrency, including:


- The CEO of Western Union, a company whose last financial innovation was when they put the Pony Express out of business in 1861;


- The Governor of the Bank of England, a central bank whose entire existence is the complete opposite of the decentralized cryptocurrency ethos; and


- Her Majesty Queen Maxima of the Netherlands. Yes I’m serious.


Talk about an EXPERT panel!


Honestly it was pretty astonishing to watch. The Queen started off with a completely incomprehensible rant about how the Dutch guilder was the original ‘stablecoin’ because it held its value for so long.


This is just totally inaccurate from a historical perspective; there were plenty of other stable reserve currencies long before Holland even existed. But I’ll let that one slide.


Later, the panel dove into the real meat of their argument: cryptocurrencies are bad because poor people in Africa can’t use them.


The Queen once again piped up, stating that “digital currencies [depend] on smartphones”, and because most people in Africa still have lower grade ‘feature phones’, they don’t have the opportunity to transact with crypto.


Wrong again!


Feature phones have been able to store and transact Bitcoin and other currencies for at least SEVEN years.


And open source wallets like Electron Cash have been available for even the most basic feature phones since mid-2018.


The Queen and her friends are totally wrong. Just about everyone in the world can use crypto.


But they continue to repeat these incorrect statements-- I believe the technical term is “baseless assertions”. They claim that crypto is not “inclusive”, which is code for ‘social justice’.


That’s total nonsense. Aside from gold and silver, crypto is the most inclusive asset class in world history. Almost anyone can own it.


What’s not inclusive is the traditional financial system; there’s over 1.7 billion people worldwide who can’t access bank accounts or basic financial services-- ironically, according to the World Economic Forum!


Furthermore, if they really care about ‘inclusive finance’, traditional currencies are totally not inclusive.


US Dollars, for example, are exclusive to the United States, a handful of dollarized countries, plus governments, wealthy individuals, and big corporations.


It’s not like some poor person in Africa has regular access to dollars. They’re at the mercy of their local currency, and however much the government wants to inflate it.


And in addition to manipulation and inflation, traditional currencies can also be subject to capital controls. Nothing about this is ‘inclusive’.


Nevertheless, the World Economic Forum elitists continue to repeat their baseless assertions about cryptocurrency.


In reality, they’re terrified of it, because cryptocurrency represents a rejection of the system that they control.


People aren’t stupid, they know they’ve been betrayed.


Corporations have betrayed them by going completely woke. Politicians have betrayed them by abandoning individual liberty and fiscal restraint. The media has betrayed them with its lack of truth and transparency. Tech companies have betrayed them through blatant censorship.


Trust is at an all time low. So why should anyone have any trust in the currency or financial system?


Crypto is a natural alternative for anyone who’s fed up with the people who pull the strings.


This isn’t about price… or even a single currency; Bitcoin, for example, has a number of flaws, though there are plenty of other promising options that still present substantial upside potential.


This is really about the concept of decentralization: taking power away from people who have constantly abused it, and redistributing that power freely across the market.


Some of the greatest advances in human civilization, from the Reformation in the 1500s, to the early days of the Internet, were based on decentralization.


But these people stand for the opposite. They love centralization and concentration of power… especially when they’re the ones in power.


Now they want to tell us what currencies we can/cannot use, which weeds we should be conditioned to eat, and how we should ‘reset’ capitalism.


Perhaps it’s the World Economic Forum that requires a Great Reset.
SovereignMan.com
 
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yes wild guesses. $100k is not a crazy speculation any more. If it gets there this year, then obviously a lot more room to grow
 
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TINA = There is No Alternative
Uber, for example, has never turned a profit. Its operating cash flow has totaled NEGATIVE $11 billion over the past five years with no end in sight. Yet its stock is worth roughly $100 billion.

SnapChat similarly has lost billions of dollars over the years. Yet its stock is worth nearly $80 billion.
Even stocks that are profitable are trading at absurd valuations.
I know its sacrilege to criticize Tesla… but let’s be honest-- even though the company finally had a full year of positive Free Cash Flow, the stock is trading at an unbelievable 1600x earnings.
In fact MOST of the market is overvalued; the current P/E ratio of the S&P 500 is nearly FORTY (versus a long-term average of 15).

But gold is DOWN.
This makes gold one of the only major assets to fall over the past five months.

The larger point is that this TINA mentality is total nonsense. It seems obvious that gold is a very credible alternative when so many other assets are overvalued.

Gold is a credible hedge, but I dont think it can have the upside potential of BTC
 

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and finally able to initiate a transfer of the last 5k from robinhood this morning...will see how long THAT takes to electronically move to my bank account.

i see for whatever reason they kept 25 bucks or so and wouldnt let me take the account to zero.
 

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When you say ETH is that a single stock one can buy or are you referring to all digital currency?
 
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leverage 100x Crap is still shitcoins! - says the PROFESSOR
Blockchain is no better than a spreadsheet - says the PROFESSOR

and kids run up decades long debt to learn from people like this... pfffff

 
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Paypal has made it stupid easy to "buy bitcoin and more". I put $700 in recently just to see how it goes. I'm currently up $121 in about 3 weeks. Fun to watch.
 
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Tesla buys $1.5 billion in bitcoin and plans to start accepting it as payment for products

I guess Elon reads my threads too!
 
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Elon Musk. Everything pumped today.

I don't think we'll see a dump.

Short sellers will lose again.

47k
 
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Currently, around 78 percent of issued bitcoin are either lost or being “hodled”. This leaves less than four million bitcoins to be shared among future market entrants

Bitcoin is already up 67 percent this year, on top of a 300-percent rally last year, as investors search for alternatives to the dollar because of the United States Federal Reserve’s zero-percent interest rates. The dollar slid against most currencies on Tuesday.

Bitcoin’s volatility has also been a hindrance for some serious investors and a sticking point in using it for transactions. Realised volatility, or daily price swings measured in terms of closing prices for bitcoin over the past 90 days, was at 72 percent, compared with 16 percent for the S&P 500 stocks index and 6 percent for the euro currency.

True. You gotta be prepared for large price swings
 

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Volatility won't matter once FIAT is quoted in terms of BTC (or Satoshis)

I also believe Ethereum continues to be the dark horse here

Everybody talking about BTC performance, but ETH outperformed it last year
 

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Once you replace currency with bit coin, what do you buy bit coin with?
 

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Seems complicated, but I acknowledge my ignorance.
 
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FROM 1973 to present - the World currency Dollar

FROM 202X to XXXX - a blockchain digital currency

Just got to adjust yout thinking about what Money is.. cos the greenbacks in your wallet are NOT money, they are a promisory note backed by nothing
 
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Readily accepted as a medium of exchange with physicsl properties.
 

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luckystrike

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That's the way pyramid schemes work.
I'm not following...

Gold was ~ $1200 oz in 2014 and has appreciated to beyond $1800

If the lot was bought with gold, it would've been a similar loss position (although not as extreme and assuming empty land wouldn't have appreciated as much)
 
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Readily accepted as a medium of exchange with physicsl properties.
Yes, for NOW ONLY!

When its devalued a basket of cash will buy you a loaf of bread...



"Bread being sold for a staggering 4.60 million marks" --- The sign in the picture actually says "460 Milliarden", which would be 460 billion marks for one loaf of bread. Boggles the mind.



That's the way pyramid schemes work.
You can argue that it is only becuase everybody wants a coin that the value is increasing. but thats true of stocks. The P/E ratio, the only REAL measure of a stocks value are a multiples that canot be justified. But people still want TSLA! Thats market sentiment. It always drives prices. That opens the door for manipulation as we see with Elons tweets of joke dog coin. But thats a free market.

China doesnt allow short selling, and closes the market when it falls. You want to buy those stocks? some great companies...

The difference with BTC is that it cant be printed by the fed like dollars, devaluing everyones dollars, or controlled like stock markets, its borderless and it is not based upon a company like TESLA or Caterpillar whos fortunes can change. It is a reliable instrument of exchange. Nothing more. Thats what makes it so powerful. The world has been searching for this since the stone age. you just have to adjust your thinking about money slightly
 
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Right. The ones at the top of the pyramid make huge money, while the ones at the bottom end up holding the empty sack, pleading for buyers.
 
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But thats true of any early investment in a winner. Stocks, Commoditites, Daffodills...
 

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Thats just my perception, i didnt think a computer would replace my slide rule either. Perceptions lie somerimes, to the vulnerable.
 

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Re-posting myself from 'another' thread...

The road to socialism via inflation:

• Print money, crash the reserve currency, destroy savers, and force them into inflated assets.

• Asset inflation leads to inequality. Demonize asset holders and tax the nominal gains, thereby confiscating the real value of the assets

55857

Who ya gonna call?

55858
 
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Ironic that the Turnip Triple Trillion deficit economics nut swinger now points out the bloated national debt.

You're still dumb.
 

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Re-posting myself from 'another' thread...

The road to socialism via inflation:

• Print money, crash the reserve currency, destroy savers, and force them into inflated assets.

• Asset inflation leads to inequality. Demonize asset holders and tax the nominal gains, thereby confiscating the real value of the assets

View attachment 55857

Who ya gonna call?

View attachment 55858
if bitcoin keeps going it could destabilize the US dollar as well as many others, British Pound, Yen, etc. If governments lose the ability to manipulate interest rates, or as you say, "print their way out" what makes you think that those same governments won't pass legislation to curtail cypto-currency? If it becomes a threat, they'll take it as such. A lot of this growth is dependent on the federal reserve not losing power.
 

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if bitcoin keeps going it could destabilize the US dollar as well as many others, British Pound, Yen, etc. If governments lose the ability to manipulate interest rates, or as you say, "print their way out" what makes you think that those same governments won't pass legislation to curtail cypto-currency? If it becomes a threat, they'll take it as such. A lot of this growth is dependent on the federal reserve not losing power.
It was discussed above

It will be like the recording industry trying to stop music downloads, or the war on drugs...

Futile

At some point a resource rich country, probably in Africa, will tire of their own failed banking system, and go all in on bitcoin. Their populations will revolt against 1000000% inflation, and start transacting in crypto

If you want to buy diamonds from Sierra Leone, or Oil from Nigeria, they will demand bitcoin, forcing our hand

You get my drift here I trust

First stop is replacing gold as a store of value. Bitcoin is digital gold, all the benefits of light speed liquidity sans the analog physical inconveniences of gold

Next stop is replace the world's FIAT
 

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It is possible a middle ground can be reached between FIAT and crypto...

Facebook, which can't be discounted, is trying this with Libra

It all depends how governments enforce the legislation you foreshadow

The recording industry, alarmed by Napster and illegal music downloads, made the grave mistake of going after their customers. You might remember this in the early 2000's

It was iTunes that saved the recording industry by giving consumers a viable alternative to downloads, and a happy medium was achived



If, like the recording industry, governments make the big mistake of attacking their customer base (you and I), they will fail
 
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what makes you think that those same governments won't pass legislation to curtail cypto-currency? If it becomes a threat, they'll take it as such. A lot of this growth is dependent on the federal reserve not losing power.
They will try. China banned it. India Banned it. They they realized they cant.
Remember when the US govt made it illegal to own gold?

People will find a way to buy it, just like drugs, because they understand it is beyond the control of govts.
Look at Venezuela. The "official" exchange rate for dollars is 10x out of whack from the actual market

The cat is out of the bag and running. Musk has just made it legit.

You are not alone in doubting crypto assets, even the creator of dog coin cant get his head around this paradigm shift
Founder of $8.4B Dogecoin sold everything in 2015 for ‘a used Honda Civic’

“People are talking about Dogecoin going to $1 - that would make the ‘market cap’ larger than actual companies that provide services to millions, such as Boeing, Starbucks, American Express, IBM. Does Dogecoin deserve that? That is not something I can comprehend, let alone answer.”

But then I doubt he can comprehend govt printing presses creating TRILLIONS of dollars out of thin air and people using it!
 
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An anonymous Indian official has claimed the country’s parliament will soon introduce a blanket ban on crypto assets, and give hodlers three-to-six months to liquidate.


How long do you think that last if it even becomes law?
 
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Question for the crypto veterans.

What do you think about Ledger Nano X and using Ledger live for trading etc?

I already picked up the Nano x.
 

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Question for the crypto veterans.

What do you think about Ledger Nano X and using Ledger live for trading etc?

I already picked up the Nano x.
I'm not a 'crypto veteran'. Not sure anybody is given it's early days yet...

But I'm sticking with the big boys (BTC and ETH)

That doesn't mean I'm writing off other coins, just stating that I don't want to get distracted
 
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