BITCOIN
- Thread starter Weather Man
- Start date
You don't understand what you imply with your response. Or you DO and just rather dance around topics with open ended responses.
Somewhat true, but bondholders in the 1933 instance were not repaid in gold like they had been promised but instead with U.S. dollars.
The 1979 episode was a delay in repayment but all holders were eventually repaid.
I'm not implying shit or dancing around.
If you gave me something with a value of $100+, I'd take it.
I would not give you $16,800 for 1 Bitcoin.
So when you asked him if he'd take it and that somehow magically proved your point, you're dense.
That would be like you telling me Prius are terrible vehicles, you'd never buy one, etc. But then if I were to give you one, would you turn it down? Your response would be like me saying, point proven...since you took it for free you're admitting it's a good car.
Rather than stating that if it has any sort of value, you'd take it...which is what I said.
Dance boy.
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It is impossible to keep up with the FTX drama. Now it is being reported that FTX was hacked as it was filing for bankruptcy. The thing I love about defi is how secure it is.
'FTX Has Been Hacked': Crypto Disaster Worsens as Exchange Sees Mysterious Outflows Exceeding $600M
FTX officials appeared to confirm rumors of a hack on Telegram, instructing users to delete FTX apps and avoid its website.www.coindesk.com
Someone with juice said, "or else".
I still will mess with doge
Good luck with the timing. Hard to see a playable bounce with current macro.
You asked the question, and I went to the finality of enforcement, but to be clear, the US dollar is backed by the US government, which can make good on its debts by seizing US citizens assets to pay any and all debts. The IRS does that job for the government. We write our checks to the government every paycheck, every quarter or every year, so the government has money to pay their current obligations. At some point there might not be enough of people like me in the economy paying in to service the debt, but for now, the US government has a revenue stream (ME) and a collection enforcement arm (IRS) to make sure I pay, or else they seize all my assets, to the point of bankruptcy. Bitcoin has no revenue stream or enforcement capacity. I know several people who profited handsomely from the shell game that is cryptocurrency, it's just not a space I care to dedicate the time to nor a foundation I trust. What is happening in the space right now confirms why I stayed away. I'm frankly shocked no one created a secure crypto gold with certified secured inventory, issued by a known vault.
It’s just fun money.
Made $100 on the last jump. Used it on texas de Brazil last night haha.
Witn it being so low.
A quick .08 to .12 is just like.. “ oh. We can do a nice dinner money”
In April I’ll be watching it harder. It’s a meme coin.. so 4/20 is jump time
Think that's the case with SHIB, too?
When has the production cost ever set a floor on the value of the asset? The market sets the floor and tough shit on what it costs to make.
The price of bitcoin (BTC-USD) could decline 25% from Nov. 9 (when the note was written; BTC price was ~$17.6K0), the J.P. Morgan strategists said. When looking at the potential downside, the bitcoin production cost has historically acted as a floor for the token's price. "At the moment, this production cost stands at $15K but it is likely to revisit the $13K low seen over the summer months implying a decline of around 25% from here," they said.
Morgan Stanley strategists Sheena Shah and Kinji Steimetz agreed that there's still too much leverage in the crypto ecosystem. "We are in the midst of another deleveraging event in the crypto ecosystem and it is so far having limited spillover to broader equity markets beyond sentiment, as crypto institutions lent to each other," they wrote in a note to clients.
They expect another round of crypto quantitative tightening, "with creditor exposures revealed in coming weeks. These creditors are currently selling crypto assets to cover risks, adding to volatility," the Morgan Stanley strategists said.
The price of bitcoin (BTC-USD) could decline 25% from Nov. 9 (when the note was written; BTC price was ~$17.6K0), the J.P. Morgan strategists said. When looking at the potential downside, the bitcoin production cost has historically acted as a floor for the token's price. "At the moment, this production cost stands at $15K but it is likely to revisit the $13K low seen over the summer months implying a decline of around 25% from here," they said.
Morgan Stanley strategists Sheena Shah and Kinji Steimetz agreed that there's still too much leverage in the crypto ecosystem. "We are in the midst of another deleveraging event in the crypto ecosystem and it is so far having limited spillover to broader equity markets beyond sentiment, as crypto institutions lent to each other," they wrote in a note to clients.
They expect another round of crypto quantitative tightening, "with creditor exposures revealed in coming weeks. These creditors are currently selling crypto assets to cover risks, adding to volatility," the Morgan Stanley strategists said.
These are the same clowns that bought Bear Stearns. This is probably a buy signal.
It used to.
Now with all this shit going on. I think bigs stay big and it’ll be real hard for a smaller coin to gain traction.
I'm sitting on a bunch of it unfortunately
So no one else is taking this as an opportunity to buy for their long term portfolios??
Wasting time arguing instead of accumulating.
I do think this whole meltdown cements Bitcoin & Ethereum as the only "investment grade" blockchains.
@Silverstrike Bitcoin is backed by nothing, and THAT IS what makes it SO valuable.
And it's OK that you and others don't see the value in that.
Wasting time arguing instead of accumulating.
I do think this whole meltdown cements Bitcoin & Ethereum as the only "investment grade" blockchains.
@Silverstrike Bitcoin is backed by nothing, and THAT IS what makes it SO valuable.
And it's OK that you and others don't see the value in that.
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I admit I bought a little BTC at 16k. I also bought some powerball tickets.
BTC is money when you take all the steps to change it to USD and then transfer it to your bank.
Until then it’s really just an idea.
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Billionaire John Paulson Calls Crypto ‘A Limited Supply of Nothing’ (August 30, 2021,)
I still have some to track it. I’m gonna keep watching it in case it starts to track Doge again
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