- Joined
- Feb 16, 2021
Now its 56k, how the fuck it keeps going up?
And how big is going to be the collapse this time?
And how big is going to be the collapse this time?
Bitcoin hits new record of $50,000
- Thread starter TopCat
- Start date
- Joined
- Oct 31, 2019
Lmao my crypto ETF is da bomb right now.
Pls people pump it more. I wanna cash out soon.
Pls people pump it more. I wanna cash out soon.
- Joined
- Jul 24, 2015
I think that it would be a good idea to cash out around 60K. Even if it goes up farther, it's likely going to go down to 30K or below...
- Joined
- Jul 18, 2017
I am calling shenanigans. This is not normal growth and is 100% a bubble. If it is natural growth then a massive amount of USD has been turned into BTC, in which case the ban hammer is waiting in the wings.
I've only been involved in the crypto market since january so take that for what you will. I rather like Ethereum and BAT long term. I have never liked Bitcoin. So take that bias for what it is too. That said something too good to be true is absolutely too good to be true. BTC is overvalued by alot. If I had money in it (I do not) I would be heading for the exit now.
I've only been involved in the crypto market since january so take that for what you will. I rather like Ethereum and BAT long term. I have never liked Bitcoin. So take that bias for what it is too. That said something too good to be true is absolutely too good to be true. BTC is overvalued by alot. If I had money in it (I do not) I would be heading for the exit now.
- Joined
- Jul 24, 2015
Compared to other coins, BTC's technology is inefficient, but that doesn't mean that it is a shite coin.
I do agree that it is far overbought at this time, and it is looking like a bubble. Price targets set at $64K to take profits, personally. I could be totally wrong but will press the button, to hell with FOMO.
Always have a sound target when investing so as not to get too caught up in emotion.
I do agree that it is far overbought at this time, and it is looking like a bubble. Price targets set at $64K to take profits, personally. I could be totally wrong but will press the button, to hell with FOMO.
Always have a sound target when investing so as not to get too caught up in emotion.
- Joined
- Jan 24, 2021
Feb 15 was another deadline for Tether to submit their internal documentation (how USDT is issued/backed etc.) to the NY AG. There is no way USDT is fully backed and this will be revealed to general public as investigation proceeds. When it happens, Tether is done for. I get a feeling that this BTC pump is the final money grab by Tether/Bitfinex before they run with their clients USD/crypto. Just like Mt.Gox, just like ICOs in 2017. Someone should make a compilation of "#HAVEFUNSTAYINGPOOR" comments from BTC lemmings, add suicide hotline numbers at the bottom and shove this picture in their faces once the BIG DOOMPA begins.
- Joined
- Jul 24, 2015
Any thoughts on alternative stablecoins, or do you think that they are boned too once the USDT flames rise?
- Joined
- Jan 24, 2021
In theory, stablecoins issued by US Law-compliant exchanges should be more stable, but I'm not an expert in this. I've only been following Tether's story because shit's hilarious.
- Joined
- Jul 18, 2017
I am sure all the cryptos will take a shit if BTC does, but I do like Ethereum, and that is what Coinbase is using for their stable coin, which they have unimaginatively called the US Dollar Coin.
- Joined
- Feb 16, 2021
Cash out now, I know people who got into the last ATH at 17k, didnt cash out at 19k and got fucked for years
Some even moved to bubbly shitcoins so they probably missed this ATH
Its 100% bubble, theres no actual demand for BTC as a coin, its like a speculative security now
Nobody saying its a shitcoin but it is obsolete, there's no denying it
If you want to do anonymous transactions and not pay fees out your ass to banks there are better, faster, cheaper and more stable coins out there
Like tell me a reason not to take payments in DAI, seriously I cant find a reason against it
Wish there was a stablecoin fork of monero tho, you know with that level of privacy
I literally cant believe a shady fucking outfit like bitfinex is still in business after the 2016 hack where they basically took coins and FIAT from its users to cover the btc that got "stolen", and I say that because rumors were they faked it, after all they issued those worthless tokens instead and they bought back a ton for a pittance
Anyone who holds tether deserves whats coming
- Joined
- Oct 31, 2019
- Joined
- Jul 18, 2017
I would bet closer to 60k, any higher and regulators are going to start getting involved and I would bet big money quite a few of the BTC clearing houses have bodies in the back lawn. This reeks of a pump and dump securities fraud. If it's not then big movers are converting their cash into BTC at an alarming rate to hedge against the US Dollar. Not sure which is worse. Either way the SEC is sure to start nosing into peoples business.
- Joined
- Jan 5, 2021
Why is 60k the point that will get regulators involved? Why wasn't it 40 or 50? I just think it is difficult to predict these kind of things, just as it is hard to predict the overall movement of the crypto market.
Do I think BTC is inflated? Yes, definitely. But even that is speculation. The fact that BTC has had a couple high-profile injections of cash recently is definitely a sign that some people with money are hedging against the USD. Would they do that if they think a clamp down is imminent? Not sure.
Regardless, I hope that all farmers don't put all of their (kiwi) eggs in one basket and that we all make it through unscathed.
- Joined
- Oct 31, 2019
I don't understand why people say this is a bubble. BTC has no intrinsic value. Therefore, it could be a million dollars tomorrow and it will still not be a bubble. There is no floor where we can measure it's median value.
There is no way to measure the value of this object except supply and demand.
We know that there is actually an infinite supply of currency right now because the governments of the world made it so. BTC could go up indefinitely without end.
- Joined
- Feb 18, 2021
Shit like this makes me regret not getting into BTC before all the KYC got introduced and put me off coin exchanges, because you absolutely can make money off this. But to me this looks like a modern version of Tulip mania.
The main reason I never saw the appeal of crypto was that it had no backing other than trust and some barter stuff. Now it still isn't a currency, it's a stock people invest in, not realising it only has worth if you can sell it to other people. Atleast with shit like gold, it's a physical thing that has some actual value even if it's just for computer parts or wedding rings, I get the feeling the crash will hit people hard. I think monero will do fine, ETH will do fine, maybe a few others with actual functions, but I think if it crashes BTC won't get back up.
The main reason I never saw the appeal of crypto was that it had no backing other than trust and some barter stuff. Now it still isn't a currency, it's a stock people invest in, not realising it only has worth if you can sell it to other people. Atleast with shit like gold, it's a physical thing that has some actual value even if it's just for computer parts or wedding rings, I get the feeling the crash will hit people hard. I think monero will do fine, ETH will do fine, maybe a few others with actual functions, but I think if it crashes BTC won't get back up.
- Joined
- Oct 31, 2019
I hope BTC crashes so I can finally invest in some legit crypto with fantastic utility. Bitcoin doesn't have any lol.
You know all crypto will collapse along with BTC but some better than others. I am waiting for that shit. That will be another opportunity for smart investors waiting the next thing.
- Joined
- Feb 18, 2021
The issue is crypto is already being assimilated by banks. KYC removes anonymity and requires you to go through a central authority to access trade platforms. Unless you mine crypto, or provide a service in exchange for crypto you need to use fiat and hope your bank lets you do it. If you are then authorised to use platforms like CB, and the bank is letting you purchase crypto, you can still get your account closed like people who tried to send money from theri CB wallet to KF.
For a supposedly decentralized idea, it seems there is a high level of dependence on powerful groups where you just hope they wont fuck you. Unless you want to buy hardware and hope that your coins are worth more than the cost of mining, but even if that were the case you can't go to the store and buy food with any of this. Hell lets say you could, lets say that more places just allow crypto. Who the fuck would accept it after this bubble bursts? Stability is kind of a big deal for trade, and the only stable stuff is bound to fiat and unusable, and fiat is only stable because it's everywhere and backed by the government.
But as a short term investment, crypto seems pretty good. Or it was anyway.
- Joined
- Oct 31, 2019
I think there is a case for an idea of digital gold.
In a world where government call print as much as they can, people would want something that "backs it". I think we are done with the idea that government would store gold to build confidence and balance in their currency system. Fuck government "audit".
With crypto, you can at least decentralize that process to each individual ownership.
- Joined
- Jul 18, 2017
Which is a fair point. The trillion dollar valuation and corporations adding it to their balance sheet probably already has the regulators looking under rocks.