Bitcoin to hit $500,000 mark by 2030?
Poll
 | 12 votes (21.42%) | ||
| | 5 votes (8.92%) | ||
| | 3 votes (5.35%) | ||
| | 3 votes (5.35%) | ||
| | 15 votes (26.78%) | ||
| | 15 votes (26.78%) | ||
| | 3 votes (5.35%) |
56 members have voted
Not by me, I'm not sorry to say. Good luck to any that are still in that crazy market.Quote: BozBack to $14.02. Millions being made and lost every 15 seconds.
I suspect that the only reason BCC is rallying is because it's an enforced part of the transaction route for those suckers who are trying to disentangle from the BitConnect marketplace. I won't feel jealous of those who make a fortune in that coin today.
https://www.msn.com/en-us/money/markets/as-bitcoin-sinks-crypto-bros-party-hard-on-the-blockchain-cruise/ar-AAuSeCR?li=BBmkt5R&ocid=spartanntp&ffid=gz
"Bitcoin owners are flocking to invest in gold amid fears the cryptocurrency may collapse. Concerned investors have since taken to social media to complain they fear losing anything from a few thousand dollars to their entire "life savings".
People have life savings invested in this
farce? The spirit of Charles Ponzi lives on..
When I cash out they will pay in BTC and you can bet within minutes I will convert it
back to greenbacks.
Quote: rainman
When I cash out they will pay in BTC and you can bet within minutes I will convert it
back to greenbacks.
How much was it when you bought it.
Quote: EvenBobHow much was it when you bought it.
Not sure, didn't care. Actually didn't buy a whole coin just $250 worth, upon
casino deposit it got converted to dollars.
Quote: rainmanNot sure, didn't care. Actually didn't buy a whole coin just $250 worth, upon
casino deposit it got converted to dollars.
It just dropped another $500 in an hour. Wheeeeeeeee...
Quote: EvenBobIt just dropped another $500 in an hour. Wheeeeeeeee...
That's the beauty Bob, I hope it crashes because when I'm done killing
this casino's bonus promo I cash out in BTC then the fools will pump
it back up for me and I will roll it back into the casino and try
and eat a larger promo.
Put it this way, you bet the SB, you double your almost double your bet, or lose it all.
Here you have parlay or horse race upside with the same risk of losing it all. Could do worse on tulips.
Quote: MaxPenFutures are coming. From my understanding they are right around the corner. I haven't seen anyone give any rational explanation for why bitcoin is a great opportunity currently. Neither have I seen anyone explain rationally why they do not think it is an opportunity. I will give my reasons for being a non believer.
The cost to mine a bitcoin is currently 552.00-1567.00 depending whose numbers you use and the country of origin for the mining operation. I will disregard these numbers and use a cost of 5k to purchase a mining rig capable of producing .2 bitcoins per day and assume an astronomical 1k electricity cost per coin.
Wow....6k cost (4× actual on the high end) and you can hedge out any and all risk at 15 or will it be 20k? That is the best arbitration opportunity ever. Any major miner that doesn't hedge out all next years forecasted production and head to the beach is crazy.
Plus every sane miner in the world will buy every rig they can get their hands on, plug rig in, hedge expected production, rinse, and repeat until price drops eliminating the arbitrage opportunity. This is essentially free money for anyone who understands the mining process.
If I had bitcoin I would definitely be unloading into this vertical rally. However, this is coming from someone who has never owned a BTC because it has never made any sense to me.
The thing that scares me most is, historically all recessions and depressions have been preceded by a mania.
How about now? Does anyone have a rational explanation as to why Bitcoin is a buy at these levels? Everyone I know in it cannot tell me what they think it is worth. How would you know when to sell if you can't state the worth of the item you are holding?
What is Bitcoin's intrinsic value?
Does the New Great Depression start 3rd Quarter this year?
Quote: MaxPenWhat is Bitcoin's intrinsic value?
What's a pig in a poke worth, that's
the question. Whatever people are
willing to pay this week. Next week
it may be worth nothing.
Quote: MaxPenHow about now? Does anyone have a rational explanation as to why Bitcoin is a buy at these levels? Everyone I know in it cannot tell me what they think it is worth. How would you know when to sell if you can't state the worth of the item you are holding?
What is Bitcoin's intrinsic value?
Does the New Great Depression start 3rd Quarter this year?
What's the dollar's intrinsic value other than the ink and paper wasted to create it? All fiat paper or currency is worth whatever the public thinks it's worth. Bitcoin can be worth trillions if people think it is. It can be worth $1 if people think it is. If I hear the words 'intrinsic value' one more time surrounding any currency, not sure what I will do.
The dollar used to be worth something when it was actually backed by gold and not by these banksters in the federal reserve printing money out of thin air creating more and more inflation, which people are completely blind about. Yes, inflation, the deadliest tax you'll never see, but all you ever hear is peopel complaining about property taxes, high income taxes, high corporate taxes, high whatever tax, but no one ever talks about the silent killer tax that is destroying the very dollar in your pocket as we speak. Your dollars today in your wallet are eroding each and every day and guess who's at fault for all of this? Your very own printing press known as the Federal Reserve. Yes a private bank created by Congress over a century ago that charges our government interest on every dollar it prints out of thin air, when our very own government has the ability to create it's own money INTEREST FREE. No one sees a problem there? It's alright just change the channel and get spoonfed by your local tv news on what the kardashians are doing.
You know what? I'm not even mad at the banksters at the reserve, the real criminals are the ones in the Senate and the House who have the power to end the federal reserve tomorrow, but don't have the spine or nobility to end it. Bunch of frauds and corrupt politicians, that's all they're good for. I'm also disgusted at our brainwashed public thinking the federal election is what we need to worry about. Everyone worries about what puppet trump is doing and what the next puppet in the next 3 or 7 years will do as commander and chief, but incredibly no one cares about what's happening in their state, you know the election that ACTUALLY matters, THE STATE ELECTION, and who they're electing to go represent them in Congress. The ones you are electing in your state are the ones who will end up in Congress. How about we start electing noble and honest men with sound political principles who will give us the best chance of ending this communistic piece of shit printing press known as the federal reserve? Then maybe, just maybe this country will once be the powerhouse it was once was and not the world's biggest debt machine silently destroying everyone's standard of living.
You want to know the even more pathetic part. Forget everything I just wrote. Maybe 1 person out of 10 will read all of what I just wrote, because people these days have the attention span of a goldfish. People see a blob of paragraphs and can't focus enough to read the whole thing. Actually I lied, a goldfish now has a longer attention spans than humans by 1 second. Let that sink in. Some world we live in.
Quote: ZenKinGWhat's the dollar's intrinsic value other than the ink and paper wasted to create it? All fiat paper or currency is worth whatever the public thinks it's worth. Bitcoin can be worth trillions if people think it is. It can be worth $1 if people think it is. If I hear the words 'intrinsic value' one more time surrounding any currency, not sure what I will do.
The dollar used to be worth something when it was actually backed by gold and not by these banksters in the federal reserve printing money out of thin air creating more and more inflation, which people are completely blind about. Yes, inflation, the deadliest tax you'll never see, but all you ever hear is peopel complaining about property taxes, high income taxes, high corporate taxes, high whatever tax, but no one ever talks about the silent killer tax that is destroying the very dollar in your pocket as we speak. Your dollars today in your wallet are eroding each and every day and guess who's at fault for all of this? Your very own printing press known as the Federal Reserve. Yes a private bank created by Congress over a century ago that charges our government interest on every dollar it prints out of thin air, when our very own government has the ability to create it's own money INTEREST FREE. No one sees a problem there? It's alright just change the channel and get spoonfed by your local tv news on what the kardashians are doing.
You know what? I'm not even mad at the banksters at the reserve, the real criminals are the ones in the Senate and the House who have the power to end the federal reserve tomorrow, but don't have the spine or nobility to end it. Bunch of frauds and corrupt politicians, that's all they're good for. I'm also disgusted at our brainwashed public thinking the federal election is what we need to worry about. Everyone worries about what puppet trump is doing and what the next puppet in the next 3 or 7 years will do as commander and chief, but incredibly no one cares about what's happening in their state, you know the election that ACTUALLY matters, THE STATE ELECTION, and who they're electing to go represent them in Congress. The ones you are electing in your state are the ones who will end up in Congress. How about we start electing noble and honest men with sound political principles who will give us the best chance of ending this communistic piece of shit printing press known as the federal reserve? Then maybe, just maybe this country will once be the powerhouse it was once was and not the world's biggest debt machine silently destroying everyone's standard of living.
You want to know the even more pathetic part. Forget everything I just wrote. Maybe 1 person out of 10 will read all of what I just wrote, because people these days have the attention span of a goldfish. People see a blob of paragraphs and can't focus enough to read the whole thing. Actually I lied, a goldfish now has a longer attention spans than humans by 1 second. Let that sink in. Some world we live in.
Your anger issues are going to keep impeding you continuously throughout your life. Apparently those dollars have intrinsic value to you or you wouldn't cry so much about losing them at the blackjack table. By the way no one hates the dollar and what it currently stands for more than me. I get rid of them as fast as I get them. I practice what I preach.
Do you believe in yourself?
How can you be taken seriously when you agree that Bitcoin is a currency?
Quote: MaxPenHow about now? Does anyone have a rational explanation as to why Bitcoin is a buy at these levels? Everyone I know in it cannot tell me what they think it is worth. How would you know when to sell if you can't state the worth of the item you are holding?
What is Bitcoin's intrinsic value?
Short answer: It's worth whatever someone is willing to pay.
Shorter answer: You're asking the wrong people.
(for example: http://marginalrevolution.com/marginalrevolution/2017/12/cryptoassets-created-0-5-trillion-social-value.html comments are also good)
Quote: TomGShort answer: It's worth whatever someone is willing to pay.
Shorter answer: You're asking the wrong people.
(for example: http://marginalrevolution.com/marginalrevolution/2017/12/cryptoassets-created-0-5-trillion-social-value.html comments are also good)
My understanding from reading that article is people are claiming future expected value. Your short answers success from an investment perspective is predicated on the greater fool theory.
I am simply trying to get someone to give me a rational valuation for Bitcoin.
Quote: ZenKinGWhat's the dollar's intrinsic value other than the ink and paper wasted to create it?
The intrinsic value of the dollar is (in general) the amount of work put/commodities produced/services provided in earning it.
It's backed by the economic, technological, human and military resource/potential of the country owning it.
When you send a dollar via electronic wallet you don't just send a number. You send value backed by the economy of the country in which the dollar resides which goes to the country/person where the value is retained.
When you send a bitcoin or other crypto you send a promise, backed by believe held by a number of people that you'll be able to buy something with it in the future. It's nothing alike. Crypto is backed by the work put in producing itself only (which is basically nothing more but wasting electricity for proof of a vague, risky concept). Dollar is backed by work/potential in producing actual goods and commodities (in general).
Quote: MaxPenMy understanding from reading that article is people are claiming future expected value.
That is a good description of most assets and wealth storage used throughout human history. The intrinsic value of gold is that it is shiny and rare. The intrinsic value of diamonds is that they are hard and people think they are rare even when they are not.
from another search of what the pop-culture economists are saying:
Quote:This estimate claims there is $241 trillion of wealth in the world, make of that what you will (there is something nonsensical about such aggregate measures because they are not traded against anything). If you imagine people wish to hold one quarter of one percent of that in crypto form, that gets you to about $600 billion in value. Currently crypto assets (on good days) hover near $300 billion in market capitalization. Is that so crazy? I genuinely don’t know, but that is one way of thinking about market cap in this sector.
Quote: rawtuffThe intrinsic value of the dollar is (in general) the amount of work put/commodities produced/services provided in earning it.
It's backed by the economic, technological, human and military resource/potential of the country owning it.
When you send a dollar via electronic wallet you don't just send a number. You send value backed by the economy of the country in which the dollar resides which goes to the country/person where the value is retained.
When you send a bitcoin or other crypto you send a promise, backed by believe held by a number of people that you'll be able to buy something with it in the future. It's nothing alike. Crypto is backed by the work put in producing itself only (which is basically nothing more but wasting electricity for proof of a vague, risky concept). Dollar is backed by work/potential in producing actual goods and commodities (in general).
You dont understand what intrinsic value means and you completely contradict yourself when you speak about bitcoins 'value'
Quote: TomGThat is a good description of most assets and wealth storage used throughout human history. The intrinsic value of gold is that it is shiny and rare. The intrinsic value of diamonds is that they are hard and people think they are rare even when they are not.
from another search of what the pop-culture economists are saying:
Gold's intrinsic value is because it's shiny and rare? Wow LOL. Yea gold's instrinsic value is due to it being shiny and rare, let's go ahead and forget about all the uses it provides to so many different industries as well as the benefits it provides due to its unique metallic properties.
Quote: ZenKinG
You dont understand what intrinsic value means and you completely contradict yourself when you speak about bitcoins 'value'
K
Quote: RSIdk but I have a Canadian coin and a Chinese coin and they're both going hard in the taint right now, as they say.
They say that, do they? What does 'hard in the taint' mean? Just curious.
Quote: rawtuffThe intrinsic value of the dollar is (in general) the amount of work put/commodities produced/services provided in earning it.
It's backed by the economic, technological, human and military resource/potential of the country owning it.
When you send a dollar via electronic wallet you don't just send a number. You send value backed by the economy of the country in which the dollar resides which goes to the country/person where the value is retained.
When you send a bitcoin or other crypto you send a promise, backed by believe held by a number of people that you'll be able to buy something with it in the future. It's nothing alike. Crypto is backed by the work put in producing itself only (which is basically nothing more but wasting electricity for proof of a vague, risky concept). Dollar is backed by work/potential in producing actual goods and commodities (in general).
Backed by. In time of crises I can take $100 USD to the government and they'll give me _________ in return?
Please fill in the blank.
Quote: MaxPenI am simply trying to get someone to give me a rational valuation for Bitcoin.
It takes a few hours of video to understand the value.
Here's hour 1:
Quote: beachbumbabsThey say that, do they? What does 'hard in the taint' mean? Just curious.
Like you don't know 😉
Quote: BTLWIQuote: rawtuffThe intrinsic value of the dollar is (in general) the amount of work put/commodities produced/services provided in earning it.
It's backed by the economic, technological, human and military resource/potential of the country owning it.
When you send a dollar via electronic wallet you don't just send a number. You send value backed by the economy of the country in which the dollar resides which goes to the country/person where the value is retained.
When you send a bitcoin or other crypto you send a promise, backed by believe held by a number of people that you'll be able to buy something with it in the future. It's nothing alike. Crypto is backed by the work put in producing itself only (which is basically nothing more but wasting electricity for proof of a vague, risky concept). Dollar is backed by work/potential in producing actual goods and commodities (in general).
Backed by. In time of crises I can take $100 USD to the government and they'll give me _________ in return?
Please fill in the blank.
An Obama phone? The satisfaction of paying for someone else's tattoo via their school grant?
http://www.news.com.au/technology/innovation/bitcoin-boy-erik-finman-says-if-youre-not-a-millionaire-in-10-years-its-your-own-fault/news-story/dc085f4551c54c5e7a6ea199acfab11d
Quote: beachbumbabsThey say that, do they? What does 'hard in the taint' mean? Just curious.
also HODL gang 4 lyfe my bic lud 2 do cocaine
https://www.msn.com/en-us/news/technology/millions-of-android-devices-compromised-mining-for-monero/ar-BBJ68g3?li=BBmkt5R&ocid=spartanntp
Quote: ZenKinGWho was that genius that called for a 50% crash at 14k? LOL. Ill let you guys know again when its time to buy. This time i think its time to actually buy. Im done missing out on every successful prediction i make on this forum. I already know what will happen though. As soon as I invest, I will finally be wrong because thats just how my life works.
Between the arbitrage opportunity and opportunity for the top 4% of Bitcoin address HODL'ers that control 97% of the coin to cash out a bit, you will be waiting awhile for a good entry. This month will confirm if the believers will provide a reliable monthly trading opportunity that should deliver consistent profits for sometime to come.
Quote: MaxPenBetween the arbitrage opportunity and opportunity for the top 4% of Bitcoin address HODL'ers that control 97% of the coin to cash out a bit, you will be waiting awhile for a good entry. This month will confirm if the believers will provide a reliable monthly trading opportunity that should deliver consistent profits for sometime to come.
Actually I was telling everyone to buy at 5-6k the day of superbowl and what do you know it hit around 5900 and has soon gone up. Hmmm. Another correct call. lol
Quote: ZenKinGActually I was telling everyone to buy at 5-6k the day of superbowl and what do you know it hit around 5900 and has soon gone up. Hmmm. Another correct call. lol
All hail zk.
Looking forward to when he regales us of the fortune he made following his own crypto adviceQuote: DeucekiesZK is reminding me of the guy at the blackjack table who says "See? I saved the table."
Quote: OnceDearLooking forward to when he regales us of the fortune he made following his own crypto advice
That's how you thank me after telling you to sell around 14-15k and saving you close to a 50% loss? Interesting. It's all irrelevant anyway because bitcoin will continue to have a healthy long term price and keep making higher and higher highs, but in the short run it will bounce back and forth because it's basically a trader's paradise and you can just keep trading around it every 3-6 months. 20-30 years from now, it will blow up(in a good way)
Let's also not forget about the tech index fund that I've called 6 months ago in VGT. That's up 20% since my call. It's also been averaging over 20% each year for the last 5 years and up over 40% the last year, not to mention a nice 1% dividend as a bonus. Find me another fund that can do that. Let's also not forget about all the individual stock calls I've made as well. They're all up since then.
Might change my name to MoneyKinG
Quote: ZenKinGThat's how you thank me after telling you to sell around 14-15k and saving you close to a 50% loss? Interesting. It's all irrelevant anyway because bitcoin will continue to have a healthy long term price and keep making higher and higher highs, but in the short run it will bounce back and forth because it's basically a trader's paradise and you can just keep trading around it every 3-6 months. 20-30 years from now, it will blow up(in a good way)
Let's also not forget about the tech index fund that I've called 6 months ago in VGT. That's up 20% since my call. It's also been averaging over 20% each year for the last 5 years and up over 40% the last year, not to mention a nice 1% dividend as a bonus. Find me another fund that can do that. Let's also not forget about all the individual stock calls I've made as well. They're all up since then.
Might change my name to MoneyKinG
That would be ironic since all you seem to do is lose money lol.
Quote: ZenKinGThat's how you thank me after telling you to sell around 14-15k and saving you close to a 50% loss? Interesting. It's all irrelevant anyway because bitcoin will continue to have a healthy long term price and keep making higher and higher highs, but in the short run it will bounce back and forth because it's basically a trader's paradise and you can just keep trading around it every 3-6 months. 20-30 years from now, it will blow up(in a good way)
Let's also not forget about the tech index fund that I've called 6 months ago in VGT. That's up 20% since my call. It's also been averaging over 20% each year for the last 5 years and up over 40% the last year, not to mention a nice 1% dividend as a bonus. Find me another fund that can do that. Let's also not forget about all the individual stock calls I've made as well. They're all up since then.
Might change my name to MoneyKinG
Since your not interested in real AP, I think you should open a trading account with your leftover bankroll. 8% a month would be child's play with someone of your abilities. Modern Day Jesse Livermore. The world would not know what hit it.
Quote: MaxPenSince your not interested in real AP, I think you should open a trading account with your leftover bankroll. 8% a month would be child's play with someone of your abilities. Modern Day Jesse Livermore. The world would not know what hit it.
He can’t it’s rigged by the mob and as soon as he invested he would lose all his remaining money because he’s cursed.
Quote: PokerGrinderHe can’t it’s rigged by the mob and as soon as he invested he would lose all his remaining money because he’s cursed.
Damn. I forgot about the dreaded Curse. Oh well, it was worth a shot.😀 I just know there is a trading message board out there somewhere waiting for the sage guidance of the MoneyKing.
Quote: MaxPenDamn. I forgot about the dreaded Curse. Oh well, it was worth a shot.😀 I just know there is a trading message board out there somewhere waiting for the sage guidance of the MONKEYKING.
There you go Max I fixed that for you.
I initiated a BTC withdrawal on an online book when it was $5900 or something. Took them forever and a half to tell me I had to call them to verify who I is. Then they took forever to send me an email saying reply back with my info. BTC was about $8000 or so when they finally sent it.
Quote: djatcI initiated a BTC withdrawal on an online book when it was $5900 or something. Took them forever and a half to tell me I had to call them to verify who I is. Then they took forever to send me an email saying reply back with my info. BTC was about $8000 or so when they finally sent it.
Does it really matter as long as your winnings are in USD and not BTC? You would have gotten $x USD worth of bitcoin either way, it just so happens that the BTC market fluctuates 30% every other hour.
Its not that hard to make that call though because bitcoin literally follows the exact same trading pattern every single year at this time. 3 weeks before the lunar new year, every year, buy the dip.Quote: ZenKinGThat's how you thank me after telling you to sell around 14-15k and saving you close to a 50% loss? Interesting. It's all irrelevant anyway because bitcoin will continue to have a healthy long term price and keep making higher and higher highs, but in the short run it will bounce back and forth because it's basically a trader's paradise and you can just keep trading around it every 3-6 months. 20-30 years from now, it will blow up(in a good way)
Let's also not forget about the tech index fund that I've called 6 months ago in VGT. That's up 20% since my call. It's also been averaging over 20% each year for the last 5 years and up over 40% the last year, not to mention a nice 1% dividend as a bonus. Find me another fund that can do that. Let's also not forget about all the individual stock calls I've made as well. They're all up since then.
Might change my name to MoneyKinG
Thanks. I've made a nice profit on my limited bitcoin trading. Certainly not made any losses there.Quote: ZenKinGThat's how you thank me after telling you to sell around 14-15k and saving you close to a 50% loss?
I don't suppose you are invested and making the profits that you are so great at calling in advance. Why would you be?
Quote: OnceDearThanks. I've made a nice profit on my limited bitcoin trading. Certainly not made any losses there.
I don't suppose you are invested and making the profits that you are so great at calling in advance. Why would you be?
Because he is cursed. Everyone who made money is supposed to send him 10% because he not only guided you all but he also didn't invest which kept the curse away and allowed you all to be rich.
Quote: ZenKinGActually I was telling everyone to buy at 5-6k the day of superbowl and what do you know it hit around 5900 and has soon gone up. Hmmm. Another correct call. lol
Have you considered looking for a career as a financial planner? It seems you at least have in interest in investing, the markets, etc. I think if I didn't become a doctor it is what I would have done. Of course there is some schooling needed, but since you already have a college degree you are on your way. Once established, it is certainly a more stable career than a blackjack AP.
