BitCoin
Define what you mean by that.Quote: DRichQuote: AZDuffmanIt appears that several bitcoin ETFs have been approved. The next phase in crypto now begins.
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I am not a proponent ]
I rarely speculate on Crypto, but I have bought at close to various lows(BTC) believing it was a good deal. I'm a proponent that it's a valuable tool for the right people.I'm pro BTC and want it to succeed.
Quote: DRichQuote: AZDuffmanIt appears that several bitcoin ETFs have been approved. The next phase in crypto now begins.
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I would expect that it will go up at least $10,000 in the next 30 days or so. I am not a proponent of crypto but for those of you that like to speculate, this might be a good time.
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I invested in a Bitcoin ETF for a few days maybe 5 years ago? Grayscale I think? Is there some new law that changed from when I owned that?
Edit…. Maybe it was a mutual fund, not an ETF, but does that even matter?
Quote: SOOPOOQuote: DRichQuote: AZDuffmanIt appears that several bitcoin ETFs have been approved. The next phase in crypto now begins.
link to original post
I would expect that it will go up at least $10,000 in the next 30 days or so. I am not a proponent of crypto but for those of you that like to speculate, this might be a good time.
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I invested in a Bitcoin ETF for a few days maybe 5 years ago? Grayscale I think? Is there some new law that changed from when I owned that?
Edit…. Maybe it was a mutual fund, not an ETF, but does that even matter?
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What matters is they will be on an exchange. Regulated. Sec rules and reporting. You can lose money but not your actual coins. And institutions have a more clear path to invest.
It sounds like you invested on a crypto exchange of some sort.
BTC = 69929 USD
+1466
+2.14%
Will we see $70k (again?) today? My guess is yes. Just random noise should see it hit that.
Next stop 80k or 60k ?
Quote: OnceDearJust a few moments ago
BTC = 69929 USD
+1466
+2.14%
Will we see $70k (again?) today? My guess is yes. Just random noise should see it hit that.
Next stop 80k or 60k ?
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Next month we will have another Bitcoin Halving. It will be interesting to see if that has any short term affects.
Quote: OnceDearJust a few moments ago
BTC = 69929 USD
+1466
+2.14%
Will we see $70k (again?) today? My guess is yes. Just random noise should see it hit that.
Next stop 80k or 60k ?
link to original post
Might break $70 but I do not think it happens until Asia wakes up.
There was a hard ceiling at about 69950 today. I think that when it breaches 70,000 it will tear ahead easily to 72500 or much more.Quote: vegasI think bitcoin rise preceded the having event in April. I can’t see too much increase but down the road yes it is on its way to 100000
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We'll see.
The Bank Term Funding Program ends tomorrow, there's hundreds of billions left outstanding that banks lean on, previously over a trillion.
For all those 2008 buffs listening to Jim Cramer:
The Bank Term Funding Program was created to support American businesses. Banks will continue to have ready access to the discount window to meet liquidity needs. The Federal Reserve, the US central bank is terminating the bank term funding program (BTFP) on March 11.
Quote: AZDuffmanQuote: OnceDearJust a few moments ago
BTC = 69929 USD
+1466
+2.14%
Will we see $70k (again?) today? My guess is yes. Just random noise should see it hit that.
Next stop 80k or 60k ?
link to original post
Might break $70 but I do not think it happens until Asia wakes up.
link to original post
SITYS!
Quote: AZDuffmanQuote: AZDuffmanQuote: OnceDearJust a few moments ago
BTC = 69929 USD
+1466
+2.14%
Will we see $70k (again?) today? My guess is yes. Just random noise should see it hit that.
Next stop 80k or 60k ?
link to original post
Might break $70 but I do not think it happens until Asia wakes up.
link to original post
SITYS!
link to original post
71685USD
+2659
+3.85%
As of today at 10:11 UTC
The ceiling has been broken convincingly. A short pause for breath before $75k. Then profit taking to see a serious retrenchment.
Amusingly the top three opinions on Tradingview are super bearish, but there 'gauges' are all saying 'strong buy'
https://www.tradingview.com/symbols/BTCUSD/
The bears are regrouping while the bulls run riot
Quote: OnceDearQuote: AZDuffmanQuote: AZDuffmanQuote: OnceDearJust a few moments ago
BTC = 69929 USD
+1466
+2.14%
Will we see $70k (again?) today? My guess is yes. Just random noise should see it hit that.
Next stop 80k or 60k ?
link to original post
Might break $70 but I do not think it happens until Asia wakes up.
link to original post
SITYS!
link to original post
71685USD
+2659
+3.85%
As of today at 10:11 UTC
The ceiling has been broken convincingly. A short pause for breath before $75k. Then profit taking to see a serious retrenchment.
Amusingly the top three opinions on Tradingview are super bearish, but there 'gauges' are all saying 'strong buy'
https://www.tradingview.com/symbols/BTCUSD/
The bears are regrouping while the bulls run riot
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It’s in a halving uptrend. The pattern lately is it goes up a little Saturday and Sunday as most of the world is on weekend. Asia wakes up while the USA sleeps and buys heavy. Europe and USA follow so it goes up non and tues. Then it drifts about. Then it repeats.
Quote: AZDuffman
It’s in a halving uptrend. The pattern lately is it goes up a little Saturday and Sunday as most of the world is on weekend. Asia wakes up while the USA sleeps and buys heavy. Europe and USA follow so it goes up non and tues. Then it drifts about. Then it repeats.
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I'd love to believe that it could be so predictable. It would be the greatest system since Martingale. $;o)
Quote: ChumpChangeIt Started: The Great Crash (Black Monday 2.0) Begins in 32 Hours
The Bank Term Funding Program ends tomorrow, there's hundreds of billions left outstanding that banks lean on, previously over a trillion.
For all those 2008 buffs listening to Jim Cramer:
The Bank Term Funding Program was created to support American businesses. Banks will continue to have ready access to the discount window to meet liquidity needs. The Federal Reserve, the US central bank is terminating the bank term funding program (BTFP) on March 11.
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How far off topic are you going to get CC? Does the guy even mention Bitcoin in his advert?
Quote: ChumpChangeHe mentioned bitcoin going up 40% during some financial downturn but I'd have to rewatch the video, but bitcoin didn't exist in 2008. I see nothing of a Black Monday on the markets today despite the internet ballyhoo floating about beforehand. But the banks losing their discount window may show up on their balance sheets by their quarterly reports next month, or when the ATMs have no cash this month.
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I believe Bitcoin was invented in 2008.
Quote: OnceDearQuote: AZDuffman
It’s in a halving uptrend. The pattern lately is it goes up a little Saturday and Sunday as most of the world is on weekend. Asia wakes up while the USA sleeps and buys heavy. Europe and USA follow so it goes up non and tues. Then it drifts about. Then it repeats.
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I'd love to believe that it could be so predictable. It would be the greatest system since Martingale. $;o)
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It isn't perfect, but I missed out the cashout and rebuy the last three times. Not missing it again.
Speaking of martingale, I worked a benefit last weekend. Weird prize ticket payoff so they did some weird betting. Guy needed to get to 51 chips to get a second prize entry. Bets 2, bets 4, etc. Kind of thinking he just invented fire. Lost his stack, 5 or so losses in a row (BJ). As he left I asked if he knew what martingale was. He did not. Told him to google it.
What say you, MDawg?
tuttigym
You make a valid point. For honest citizens, the government tracking every transaction might not be a huge concern, especially for everyday purchases like a TV.Quote: lilredroosterQuote: mcallister3200I do not understand the appeal of a currency that guarantees that a government can theoretically track every cent you have and how you spend it.
assuming a person is not intending on evading taxes:
why would the Government care if you bought a car with your Bitcoin profits?
why would you care if the Government knows you bought a car?
as long as you don't use it to buy large amounts of heroin on the web - or tech and ship it to Iran
who cares?
if the Government is tracking this stuff - other than for tax purposes - they're going to have records of trillions of purchases
trivial info
unless a person believes the Government is evil and has some evil scheme to use this info in some strange way there is no reason to care
I just bought a TV - if I bought it with Bitcoin should I care if the Government knows this....?
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As a business owner who accept cryptocurrency payments , I've noticed a growing interest in crypto precisely because some people value privacy over complete transparency.
Ultimately, the choice of payment method is a personal one. But it's important to understand the different options and their potential benefits and drawbacks.
Quote: BTLWIQuote: OnceDearQuote: BTLWII borrowed 6 figures worth of USD this year to buy crypto. Hopefully in 2024 I can borrow 7.
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If that's true and you actually did buy (at what price?), then that's quite a gamble. Good luck with that.....
..... And don't forget to report any transactions for Capital Gains Tax..
I just have a modest holding which I rode down from a high price to a much lower price and which i'm now, hopefully riding back up.
I've made far worse investments
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I've bought all year. $16K, $24K, $44K.
Borrow USD, buy Bitcoin. There's no taxable event.
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Added $150K to the borrow. Bought more at $59, $62, $66.
Quote: AZDuffmanAnyone know what is with the ads saying send BTC or ETH and we will return twice that much to you in 30 seconds to a minute? This has been going on for months now and on a legit channel.
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What do you mean by ‘legit channel’? Seems like any channel that would accept such an ad is not a ‘legit channel’!
Quote: EvenBobWhat's with gold, it seems like all those channels on Cable that sell gold all the time might have been right all along. It's very close to hitting 2500 an ounce. Just 6 months ago it was around $2,000 an ounce 8 years ago it was right around $1,000 an ounce
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I have been watching gold prices daily for about the last year. I am shocked at how much it has gone up and that it seems to be continuing.
Quote: SOOPOOQuote: AZDuffmanAnyone know what is with the ads saying send BTC or ETH and we will return twice that much to you in 30 seconds to a minute? This has been going on for months now and on a legit channel.
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What do you mean by ‘legit channel’? Seems like any channel that would accept such an ad is not a ‘legit channel’!
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I mean the guy has been doing daily crypto news for many years. He gives legit news. The ads feature CEOs of major crypto players. IOW, it is not some Nigerian Prince asking you to help get his crypto out of the country.
from the article:
"Federal regulators have approved an investment product tied to the cryptocurrency Ether, the most valuable digital asset after Bitcoin, in a major boost for the Cryptocurrency industry"
https://archive.ph/RK1TA
.
Quote: lilredrooster.
from the article:
"Federal regulators have approved an investment product tied to the cryptocurrency Ether, the most valuable digital asset after Bitcoin, in a major boost for the Cryptocurrency industry"
https://archive.ph/RK1TA
.
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We seem to be exiting the Wild West phase as crypto goes more legit. On to $1MM bitcoin!
Quote: AZDuffmanQuote: lilredrooster.
from the article:
"Federal regulators have approved an investment product tied to the cryptocurrency Ether, the most valuable digital asset after Bitcoin, in a major boost for the Cryptocurrency industry"
https://archive.ph/RK1TA
.
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We seem to be exiting the Wild West phase as crypto goes more legit. On to $1MM bitcoin!
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I remember coming to the crypto scene late. Bitcoin was at $2400 and I refused to buy any because it was just too expensive.
Quote: DRichQuote: AZDuffmanQuote: lilredrooster.
from the article:
"Federal regulators have approved an investment product tied to the cryptocurrency Ether, the most valuable digital asset after Bitcoin, in a major boost for the Cryptocurrency industry"
https://archive.ph/RK1TA
.
link to original post
We seem to be exiting the Wild West phase as crypto goes more legit. On to $1MM bitcoin!
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I remember coming to the crypto scene late. Bitcoin was at $2400 and I refused to buy any because it was just too expensive.
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Bitcoin and ETH may be one of the few things I got to in time. Not early enough to be a killer but I am going to at least ten-bag if things keep up.
Quote: AZDuffman
Bitcoin and ETH may be one of the few things I got to in time. Not early enough to be a killer but I am going to at least ten-bag if things keep up.
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And it will keep going up until one of the billionaires who owns a ton of it decides to sell out for a profit and then it'll go in the toilet again. Like Elon Musk did a couple years ago. It is after all just a collectible, it's not a currency. And as with any collectible when a collector dumps his huge collection on the market it reduces the price of everything. Imagine they found 40 unknown Rembrandt paintings and they all went on the market at once. It would drastically reduce the value of every Rembrandt painting because art is just a collectible.
Quote: EvenBob
And it will keep going up until one of the billionaires who owns a ton of it decides to sell out for a profit and then it'll go in the toilet again.
I don't think a billionaire could do that
the value of all the bitcoins in the world is estimated at $1.39 trillion
even if a billionaire sold $10 billion at one time (if possible) there would still be well over $ 1 trillion invested in it - see link
https://www.investopedia.com/tech/how-much-worlds-money-bitcoin/#:~:text=All%20the%20bitcoins%20in%20the,0.56%25%20of%20the%20world's%20money.
Quote: EvenBobIt is after all just a collectible, it's not a currency.
per the link 15,000 businesses worldwide accept Bitcoin as payment including 2,300 in the U.S. - see link
and prolly many more will start accepting it as time passes - each month and each year
and there are ways to buy from retailers who don't such as buying a debit or gift card with Bitcoin and then using that as payment - see link
also linked is a list of many well known stores and/or businesses that accept Bitcoin
.
https://crypto.com/bitcoin/who-accepts-bitcoin-payments-in-2024
https://bitpay.com/directory/
.
The most important question that comes to mind for me is: Can crypto be counterfeited? If not, why not? How does one determine if the "currency" is real?
Isn't it possible to "invent" another form of spendable entity?
tuttigym
Quote: tuttigymI, personally no nothing about Bitcoin/cryptocurrency. I do not understand what gives it value. To my limited knowledge, there is no government backing of this monetary entity. I see where there are businesses that accept crypto for their goods and services, but why? To me, it all looks like some kind of phantom money and transactions.
The most important question that comes to mind for me is: Can crypto be counterfeited? If not, why not? How does one determine if the "currency" is real?
Isn't it possible to "invent" another form of spendable entity?
tuttigym
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Bitcoin should be unhackable as the blockchain is on millions of computers thus you’d have to hack them all
Quote: AZDuffmanQuote: tuttigymI, personally no nothing about Bitcoin/cryptocurrency. I do not understand what gives it value. To my limited knowledge, there is no government backing of this monetary entity. I see where there are businesses that accept crypto for their goods and services, but why? To me, it all looks like some kind of phantom money and transactions.
The most important question that comes to mind for me is: Can crypto be counterfeited? If not, why not? How does one determine if the "currency" is real?
Isn't it possible to "invent" another form of spendable entity?
tuttigym
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Bitcoin should be unhackable as the blockchain is on millions of computers thus you’d have to hack them all
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Thanks, AZ, but my thick head cannot wrap around your answer. What is to prevent one from "creating" some crypto and infusing it into his computer?
You did not answer the other questions, and I am sure that any answers given will further confuse me.
tuttigym
Quote: tuttigymQuote: AZDuffmanQuote: tuttigymI, personally no nothing about Bitcoin/cryptocurrency. I do not understand what gives it value. To my limited knowledge, there is no government backing of this monetary entity. I see where there are businesses that accept crypto for their goods and services, but why? To me, it all looks like some kind of phantom money and transactions.
The most important question that comes to mind for me is: Can crypto be counterfeited? If not, why not? How does one determine if the "currency" is real?
Isn't it possible to "invent" another form of spendable entity?
tuttigym
link to original post
Bitcoin should be unhackable as the blockchain is on millions of computers thus you’d have to hack them all
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Thanks, AZ, but my thick head cannot wrap around your answer. What is to prevent one from "creating" some crypto and infusing it into his computer?
You did not answer the other questions, and I am sure that any answers given will further confuse me.
tuttigym
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The simple way to think about it is similar to if everyone who holds a dollar bill has a list of everyone who also holds a dollar bill and on that list is the sriall number of the bill. Before you can spend the dollar bill you have to verify with everyone else that you have that dollar billl and will be giving it to Mr. X. Every other person who holds a dollar bill will update their list to show now Mr. X has that dollar bill. Unless everybody's lists agree that bill can't be traded/
Wall Street recently allowed the trading of Bitcoin in exchange traded mutual funds and Ethereum will very likely be approved and start trading in July in ETFs
this has given crypto quite a bit more respectability - and the price of both has surged since it became known that this would happen
newbies are buying in - they don't wanna miss out on a potential boom
.
https://finance.yahoo.com/news/bitcoin-ethereum-funds-see-surge-075633156.html
.
Quote: tuttigymQuote: AZDuffmanQuote: tuttigymI, personally no nothing about Bitcoin/cryptocurrency. I do not understand what gives it value. To my limited knowledge, there is no government backing of this monetary entity. I see where there are businesses that accept crypto for their goods and services, but why? To me, it all looks like some kind of phantom money and transactions.
The most important question that comes to mind for me is: Can crypto be counterfeited? If not, why not? How does one determine if the "currency" is real?
Isn't it possible to "invent" another form of spendable entity?
tuttigym
link to original post
Bitcoin should be unhackable as the blockchain is on millions of computers thus you’d have to hack them all
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Thanks, AZ, but my thick head cannot wrap around your answer. What is to prevent one from "creating" some crypto and infusing it into his computer?
You did not answer the other questions, and I am sure that any answers given will further confuse me.
tuttigym
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Each transaction is recorded onto a public ledger with a hash tying it to previous transactions. The entire history of purchases can be publicly looked at which is what the process does using the hash.
Sorry if my explanation isn't perfect either but basically it's similar to TITO'S in a casino. Every ticket in and every ticket out transaction is logged not just by the slot or redemption machine but on a computer so you can't just counterfeit a TITO and insert it into the system. It would fail validation procedures. Where did it come from previously, what slot machine? You can't just print a tito on your home printer and introduce it into the system.
TITO'S have a sort of blockchain in that each transaction is traceable back to the previous one.
Bitcoin works something like that.
Quote: EvenBob"Real chances of Bitcoin failing are 100%. It's a speculation outlet not an asset. It has no intrinsic value."
I bet on horses
that's a speculation outlet too
do you think horse racing will fail soon_________?
it's been around since about 4500 BC
what an inane post
.
Quote: lilredroosterQuote: EvenBob"Real chances of Bitcoin failing are 100%. It's a speculation outlet not an asset. It has no intrinsic value."
I bet on horses
that's a speculation outlet too
do you think horse racing will fail soon_________?
it's been around since about 4500 BC
what an inane post
.
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US paper currency is basically valued only because we give it value. Same for Gold.
A million dollars worth of Gold bullion on a deserted island is worth less than a banana tree (the banana tree will keep you fed, the bullion will just lay there worthless)
Quote: tuttigymI, personally no nothing about Bitcoin/cryptocurrency. I do not understand what gives it value. To my limited knowledge, there is no government backing of this monetary entity. I see where there are businesses that accept crypto for their goods and services, but why? To me, it all looks like some kind of phantom money and transactions.
The most important question that comes to mind for me is: Can crypto be counterfeited? If not, why not? How does one determine if the "currency" is real?
Isn't it possible to "invent" another form of spendable entity?
tuttigym
link to original post
The ledger has been explained by others above, so I will let it at that unless you need to hear it a slightly different way from someone else.
The currency is "real" as long as someone accepts it. The USD is only "real" for this reason. It could collapse. The petrodollar ended this month, which is a bigger thing than people realize. Casinos have their own "currency" in the form of cheques. They are backed by dollars, same as say a Belize dollar. But you could in theory buy something with them if someone would accept them.
Why is Crypto accepted? Well, one Bitcoin is about $67,000 as I write this. When I first heard of BTC about 2012 it was $1,000. Meanwhile a meal at MCD was about $6-7 them but today it is probably $10 or more.
Quote: darkozQuote: lilredroosterQuote: EvenBob"Real chances of Bitcoin failing are 100%. It's a speculation outlet not an asset. It has no intrinsic value."
I bet on horses
that's a speculation outlet too
do you think horse racing will fail soon_________?
it's been around since about 4500 BC
what an inane post
.
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US paper currency is basically valued only because we give it value. Same for Gold.
A million dollars worth of Gold bullion on a deserted island is worth less than a banana tree (the banana tree will keep you fed, the bullion will just lay there worthless)
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So, basically, we need to make edible bitcoin. Just in case, : )
Quote: lilredroosterQuote: EvenBob"Real chances of Bitcoin failing are 100%. It's a speculation outlet not an asset. It has no intrinsic value."
I bet on horses
that's a speculation outlet too
do you think horse racing will fail soon_________?
it's been around since about 4500 BC
what an inane post
.
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But you bet on DIFFERENT horses than you did 4,500 years ago. Bad analogy..
For me, it is so abstract, and I am so old school that I am still not able to embrace those concepts.
I can physically hold $$, gold, "tickets," and most other forms "currencies," but I don't think I can carry the crypto in my pocket like small change. It is hard to imagine that some really smart "black hats" are not working in some nepharious ways to compromise the exchanges and block chains. Proof? The dude just convicted in his crypto scheme.
tuttigym
Quote: tuttigymThank you all for the explanations and definitions. I greatly appreciate all of your efforts.
For me, it is so abstract, and I am so old school that I am still not able to embrace those concepts.
I can physically hold $$, gold, "tickets," and most other forms "currencies," but I don't think I can carry the crypto in my pocket like small change. It is hard to imagine that some really smart "black hats" are not working in some nepharious ways to compromise the exchanges and block chains. Proof? The dude just convicted in his crypto scheme.
tuttigym
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But certainly then any currency susceptible to fraud would automatically be something you refuse to use?
From credit card swindles to stock fraud to counterfeit cash, there is a whole history of crimes but you are okay using those correct?
And you can't really physically hold a stock anymore than a bitcoin. Today there are just online files that say you own this or that. So I don't really see the problem.
Quote: darkozQuote: tuttigymThank you all for the explanations and definitions. I greatly appreciate all of your efforts.
For me, it is so abstract, and I am so old school that I am still not able to embrace those concepts.
I can physically hold $$, gold, "tickets," and most other forms "currencies," but I don't think I can carry the crypto in my pocket like small change. It is hard to imagine that some really smart "black hats" are not working in some nepharious ways to compromise the exchanges and block chains. Proof? The dude just convicted in his crypto scheme.
tuttigym
link to original post
But certainly then any currency susceptible to fraud would automatically be something you refuse to use?
From credit card swindles to stock fraud to counterfeit cash, there is a whole history of crimes but you are okay using those correct?
And you can't really physically hold a stock anymore than a bitcoin. Today there are just online files that say you own this or that. So I don't really see the problem.
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That is correct. I just use my glib tongue and great looks and get what I need. Works every time, and my life is carefree. Using all that other stuff just complicates matters, and I don't have to show ID.
tuttigym
Quote: EvenBob"Real chances of Bitcoin failing are 100%. It's a speculation outlet not an asset. It has no intrinsic value."
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The real chances of the U.S. dollar failing are also almost 100%. No fiat currency has ever survived over time.
