Bitcoin to hit $500,000 mark by 2030?

Quote: MDawg

HODL. Long term!

I've been accumulating and hodling since 2010 or so.

You misspelled hold.

I take it you don't own any bitcoin?

Or do you just continue to comment in this thread, and my other, about things you know nothing about. It's HODL.

Quote: sabre

You misspelled hold.

Hodl is slang in the cryptocurrency community for holding the cryptocurrency rather than selling it. A person who does this is known as a Hodler. It originated in a December 2013 post on the Bitcoin Forum message board by an apparently inebriated user who posted with a typo in the subject, "I AM HODLING."

Why do so many people here desire drama? Maybe it is 'funner'. And funner is not misspelled.

It's hard to predict what anything will do, for example earlier in this thread going back to 2017, there were those who thought BTC would be worthless by the end of 2017. However, clearly the demand is there and my projections are for 50K, someday.

HODL=hold on for dear life. I've seen it enough to know it wasn't a mistake, but had to google to see what it really meant.

Quote: MDawg

HODL. Long term!

I've been accumulating and hodling since 2010 or so.

Of course you have.....

most of 2010 it was like $0.06.

The thing about bit coin I've noticed, it literally goes straight up or straight down or is basically flat. Makes no sense to me.

Quote: onenickelmiracle

The thing about bit coin I've noticed, it literally goes straight up or straight down or is basically flat. Makes no sense to me.

A few hours ago, between 8pm and 810pm, btc dropped 14%. That makes no sense, but I do think there are times of the day these things happen. Wonder what the excuse will be for this one? It's silly to me how things never seem to be gradual with this thing, in my short experience watching it kind of more closely. This will affect the stock market, so many RH users will want or need to sell to make up for this loss of value, I think. Most rationale people say hold 10%, but the risk ignorant will hold more.

Quote: TumblingBones

For those interested in getting a better understanding of this stuff, there is a free Coursera course starting next week on Bitcoins and Cryptocurrency Technologies.

Nice info I really like the resources to learn Bitcoin Certification

Quote: onenickelmiracle

A few hours ago, between 8pm and 810pm, btc dropped 14%. That makes no sense, but I do think there are times of the day these things happen. Wonder what the excuse will be for this one? It's silly to me how things never seem to be gradual with this thing, in my short experience watching it kind of more closely. This will affect the stock market, so many RH users will want or need to sell to make up for this loss of value, I think. Most rationale people say hold 10%, but the risk ignorant will hold more.

What rationale people recommend keeping ten recent of one's wealth in bitcoin?
Is it a hedge?

Quote: billryan

What rationale people recommend keeping ten recent of one's wealth in bitcoin?
Is it a hedge?

10% is high but yes, a hedge. Also "Vegas Money" because if it pops and tenbags you are in a good way.

It really depends on your age imo. I’m a lot more than 10% into crypto but I’m only 29 and I can afford to be more risky with my investments.

I know I look at money and wealth differently than most people, but I don't see bitcoin as a hedge. Gold is a hedge because it historically goes up in times when the economy goes down. Bitcoin is very speculative. It swings wildly for no apparent reason, as best as I can tell. I'm not opposed to speculation, especially when one has many years to recover from the inevitable mistakes. At thirty I wasn't afraid of bankruptcy or failure because I knew I could make it up. Today I avoid anything that even hints of speculation.

Quote: billryan

I know I look at money and wealth differently than most people, but I don't see bitcoin as a hedge. Gold is a hedge because it historically goes up in times when the economy goes down. Bitcoin is very speculative. It swings wildly for no apparent reason, as best as I can tell. I'm not opposed to speculation, especially when one has many years to recover from the inevitable mistakes. At thirty I wasn't afraid of bankruptcy or failure because I knew I could make it up. Today I avoid anything that even hints of speculation.

I'm not sure if this will change your mind one way or the other. There is a couple thousand online casinos and from what I'm seeing a large majority of them take Bitcoin.

the IRS on the 1040 for 2020 will make it tougher for crypto traders to hide their profits or feign ignorance of the tax consequences


from the article:


"The Internal Revenue Service plans to alter the standard 1040 form by putting this question on the front page: At any time during 2020, did you sell, receive, send, exchange or otherwise acquire any financial interest in any virtual currency? The taxpayer must check the box “Yes” or “No.”

The IRS’s move is a strong warning to millions of crypto holders who aren’t complying with the law that they must file required forms they may see as burdensome and pay taxes they may think are unfair. It has impressed tax specialists.

This placement is unprecedented and will make it easier for the IRS to win cases against taxpayers who check ‘No’ when they should check ‘Yes,’” says Ed Zollars, a CPA with Kaplan Financial Education who updates tax professionals on legal developments.

Mr. Zollars notes that U.S. tax authorities have already succeeded with a similar strategy: A simple tax-return question about offshore financial accounts greatly aided their crackdown on Americans hiding money abroad. Since 2009, it has brought in more than $12 billion from individuals."





https://www.wsj.com/articles/the-irs-sets-a-trap-for-cryptocurrency-tax-cheats-11601026202

Quote: AxelWolf

I'm not sure if this will change your mind one way or the other. There is a couple thousand online casinos and from what I'm seeing a large majority of them take Bitcoin.

If anything, that makes me want to avoid both. Perhaps I don't understand it fully, but its main purpose seems to be an attempt to hide wealth from taxing authorities.
Imagine you go into a strip casino and exchange a $100 bill for 20 red chips. You know that each red chip is worth $5 each when you paid for them, but you have no idea what they will be worth when you cash them out. You have a good day at the casino and end up with 30 red chips. You go to cash out and you find out each chip is now selling for $3 each. Your entire profit is gone, and although you had a very productive day, you cash out for $90. Or in a better case, you lose a little but upon cashing out find out that each red chip is now worth $7 so your 18 red chips are now worth $126 dollars.
It may be that I'm wrong and bitcoin will become a tremendous wealth-building tool, but I'm okay with missing out on it. I think the more likely scenario is tax authorities realize the scope of evasion going on and crush it.
Again, this is only my opinion and I may very well be missing the big picture. History is full of pseudo-currencies that had a moment in the sun before crashing and burning. Perhaps bitcoin will be the exception.

Bitcoin dropping to $17,750 or -13% today. Bitcoin won't be getting to $60,000 again anytime soon, but gold might, lol.

Elon Musk, Tesla and SpaceX Hit With $258 Billion Dogecoin Lawsuit
The lawsuit aims to represent a class of people who’ve lost money trading Dogecoin.
https://decrypt.co/103089/elon-musk-tesla-spacex-dogecoin-lawsuit

Johnson wants to represent people who lost money trading the asset. He is asking for $86 billion in damages, along with triple damages of $172 billion.
Johnson is also asking for an order blocking Musk and his companies from promoting Dogecoin—and that Dogecoin trading constitutes gambling under U.S. and New York law, Bloomberg reported.
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RT: When the #Bitcoin and #Cryptocrash is over and legislators are picking through the wreckage like exhausted NTSB investigators, it’s worth remembering that Twitter helped legitimize the fraud by putting check marks next to the names of so many crypto shilling hucksters.

Quote: ChumpChange

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RT: When the #Bitcoin and #Cryptocrash is over and legislators are picking through the wreckage like exhausted NTSB investigators, it’s worth remembering that Twitter helped legitimize the fraud by putting check marks next to the names of so many crypto shilling hucksters.
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Bitcoin was $221 seven years ago. I don't see a scam. Those people have made 100 times their investment. I remember growing up if you doubled your money in seven years you were doing fine.

Quote: DRich

Quote: ChumpChange

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RT: When the #Bitcoin and #Cryptocrash is over and legislators are picking through the wreckage like exhausted NTSB investigators, it’s worth remembering that Twitter helped legitimize the fraud by putting check marks next to the names of so many crypto shilling hucksters.
link to original post

Bitcoin was $221 seven years ago. I don't see a scam. Those people have made 100 times their investment. I remember growing up if you doubled your money in seven years you were doing fine.
link to original post

The suit is for Dogecoin.

It was an open secret and in fact mentioned in the very article linked that Dogecoin was begun as a joke.

So someone failed to do his due diligence and now is upset.

Furthermore, Dogecoin has gone up and down so if it goes up again where will this suit be?

Elon Musk will make this case take twenty years, lol. If it doesn't get dismissed sooner.