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0FXTrader0
$69,346,250
The incoming BTC crash
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postman
US billionaires just dont know what to do with all the money they have.
Another digital tulip
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0FXTrader0
In the brave new world of crypto. BTC makes no sense. NFTs might do and our built using ETH. It's the blockchain that has the value not the coins.
MasterOfCoin
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Nope.
Wrong again.
And it's 'mining' and consensus that confers value to the blockchain.
Please learn the very basics about cryptocurrency before posting gibberish.
- It'll save the rest of us a lot of trouble correcting you.
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0FXTrader0
You miss the point the coins are not valuable it's the blockchain which can be replicated by the authorities and reputable banks you just manipulated what I said the blockchain involves mining and consensus but its is a blockchain.
MasterOfCoin
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No, you entirely missed the whole point of cryptocurrency, which is to eliminate the need for 'authorities and banks' by using decentralized verification. There is no bank. There is no controlling authority. That's the point.
Whilst I understand your instinct to cling to debt based banking with state control, you need to understand that this is what cryptocurrency is specifically intended to replace. Now you may not like it, and can raise (as have said authorities and banks) numerous objections to it, but at least get a grasp of the basics.
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postman
There is no difference between a dollar and a bitcoin, they are both stores of value. I do some 'work' and get paid in USD, GBP, BTC. I then exchange my 'work' for a product or service. Its the same thing.
Dollars rely on you believing that the person you are going to give them to will accept them as a form of exchange. Bitcoin is the same.
Dollar bills can be counterfeited and also just invented out of thin air (banks and governments do this daily) thus reducing their value in an unforeseeable way, Bitcoin gives a very predictable (miniscule) rate of deflation and cannot be copied.
Bitcoin is BETTER than USD!
Tell me which bit of this you dont understand and I will simplify it even more for you until you get it.
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0FXTrader0
You want to get paid in something that has a 4% daily volatility. It great while it's going up but on the way down not so great.
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0FXTrader0
Why are the forum members on T2W pernicious. It's not always about being right or wrong this a forum discussion.
MasterOfCoin
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A lot of people have already chosen to be paid this way.
Perhaps they understand a little more than some others.
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postman
You want to get paid in something that has consistently lost value every day at an unpredictable rate (USD) so the longer you hold it the less its worth then fine!
You dont want to get paid in something that has consistently INCREASED in value since the day it was created then fine!
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0FXTrader0
When the digital tulips find fair value at around 0 will see who wants to be paid in them.
MasterOfCoin
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Because you don't frame your posts and opinions as discussions or questions.
If you did, then we could have debate and discussion.
But if you post opinions as facts, expect to be corrected.
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0FXTrader0
Are you questioning 0FXTrader0's omnipotence. Facts are I could change my mind on crypto coins and am willing to listen to the bull case but this looks like a major bubble.
MasterOfCoin
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Agreed !!!!
But I'd note that historically, each and every fiat currency has found fair value at around 0.
Nobody wants to be paid in those anymore.
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0FXTrader0
PTJ was obv not using the tulip mania overlay this time. But where is the top in the coin? How long can people buy that stacking sats is a good thing to do.
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postman
I too did not want to invest in bitcoin but now I regard it as another thing to trade. Its price was unpredictable to me, but since July last year institutional buying has made it more predictable.
Give it a try you know you want to.
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0FXTrader0
I could be considered bitter as was holding the dreaded coin at around 13k unleveraged with the thought of leaving it there but I got tempted to move the funds and did not cashin on the pump to 50k. But it was not a huge sum that would change my view on the bubble based on history. I knew of BTC in 2013 and did not invest that would have been the time in hindsight when it was not as easy to invest now seems to have gone out of control and very easy to. I know its a limited quantity but at a price people will jump ship and don't think this will allowed to inflate much more. Does not take much for a whale to ship a yard to an enemy nation and the thing becomes a weapon of mass destruction.
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0FXTrader0
BTC art: Green car crash.
But its a tulip.
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postman
When you buy a JPEG of the original Tulipomania chart verified by blockchain for $6.5million using bitcoin then we have reached peak ideocracy.
