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Posted: 4/16/2024 9:24:53 AM EDT
[#1]
I have some gold but btc will be the future as the US dollar loses it's value and btc will be a store of value against inflation.
I have bought things in the past with btc but don't now since btc as a store of value is becoming more and more realized by people who what to avoid the government stealing their hard earned money and wealth through inflation. In the coming years btc will become more valuable, especially with government printing like it is, the next decade is bullish for btc and I try not to sell during a bull run. |
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PA, USA
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Posted: 4/16/2024 9:42:31 AM EDT
[#2]
Quote HistoryOriginally Posted By TexRdnec: you can use bitcoin to buy gold check mate i just sold a ruger gp100 here and offered bitcoin as payment. i'm about to sell another soon, i will still accept bitcoin as payment Bitcoin is just another Fiat derivative. Shocking how many are bitten by the greed bug and use the lamest of arguments to support Bitcoin. Its code...nothing but. Without electricity its nothing. Keep telling me how its the future...when our own grid can't even keep up with charging EV's. Sure, you can take it anywhere you want...but how many other places in the world actually use it? Gold and Silver are universally accepted...BTC isn't. One way or another that Pyramid is going to lock up many with no way out. The simple fact that ETF's have been implemented around Bitcoin tells you everything you need to know about its future...managed. |
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PA, USA
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Posted: 4/16/2024 9:57:27 AM EDT
[#3]
look up SHA-256
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Posted: 4/16/2024 10:36:02 AM EDT
[#4]
Quote HistoryOriginally Posted By renov8: Bitcoin is just another Fiat derivative. Shocking how many are bitten by the greed bug and use the lamest of arguments to support Bitcoin. Its code...nothing but. Without electricity its nothing. Keep telling me how its the future...when our own grid can't even keep up with charging EV's. Sure, you can take it anywhere you want...but how many other places in the world actually use it? Gold and Silver are universally accepted...BTC isn't. One way or another that Pyramid is going to lock up many with no way out. The simple fact that ETF's have been implemented around Bitcoin tells you everything you need to know about its future...managed. The electricity argument has been used for years. If we have a major grid disruption, we are headed for dark times. Everything we know and love needs power. There are more retailers that I know of that accept bitcoin versus PMs. So they may be universally understood, but not universally accepted as currency. |
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Posted: 4/16/2024 10:52:32 AM EDT
[#5]
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Posted: 4/16/2024 10:54:07 AM EDT
[#6]
Quote HistoryOriginally Posted By renov8: Bitcoin is just another Fiat derivative. Shocking how many are bitten by the greed bug and use the lamest of arguments to support Bitcoin. Its code...nothing but. Without electricity its nothing. Keep telling me how its the future...when our own grid can't even keep up with charging EV's. Sure, you can take it anywhere you want...but how many other places in the world actually use it? Gold and Silver are universally accepted...BTC isn't. One way or another that Pyramid is going to lock up many with no way out. The simple fact that ETF's have been implemented around Bitcoin tells you everything you need to know about its future...managed. Quote HistoryOriginally Posted By renov8: Originally Posted By TexRdnec: you can use bitcoin to buy gold check mate i just sold a ruger gp100 here and offered bitcoin as payment. i'm about to sell another soon, i will still accept bitcoin as payment Bitcoin is just another Fiat derivative. Shocking how many are bitten by the greed bug and use the lamest of arguments to support Bitcoin. Its code...nothing but. Without electricity its nothing. Keep telling me how its the future...when our own grid can't even keep up with charging EV's. Sure, you can take it anywhere you want...but how many other places in the world actually use it? Gold and Silver are universally accepted...BTC isn't. One way or another that Pyramid is going to lock up many with no way out. The simple fact that ETF's have been implemented around Bitcoin tells you everything you need to know about its future...managed. How is Bitcoin a Fiat derivative? Elaborate on that one for us. As far as how many other places in the world that actually use it, I don't see how that's an argument against any decentralized cryptocurrency. How could any decentralized currency get from introduction to universal acceptance without some period in between where the market for it gets built out by speculators? The only way that any currency could be universally accepted on Day 1 would be if it was centralized by nature aka "by decree" which is what the term "fiat" directly translates to in English. Even if Bitcoin isn't the future and some other decentralized currency is, crypto or otherwise, that future currency won't be universally accepted on Day 1. It's impossible for it to be. Even the markets for gold and silver had to be developed over thousands of years. |
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PA, USA
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Posted: 4/16/2024 10:56:49 AM EDT
[#7]
Quote HistoryOriginally Posted By goloud: The electricity argument has been used for years. If we have a major grid disruption, we are headed for dark times. Everything we know and love needs power. There are more retailers that I know of that accept bitcoin versus PMs. So they may be universally understood, but not universally accepted as currency. The reason the electricity argument is still around is because it applies. Simple truths are hard to dispel. Blockchain will be implemented when gold and silver are used in trade...which is where we are headed once the BRIC's get their shit together. Its not a matter of if, but a matter of time before this huge cabal, with over 60% of the worlds population uses something other than the Dollar. Saudi Arabia has joined BRIC's. They are building smelting plants there too. Even Nigeria has built a bourse to handle its own metals exchange. No one seems to put much merit into all of this...ignore at your own peril. Bitcoin is nothing more than another bottomless pit for your greed. I just hope most of you at least buy something that has staying power. Even the charts show Bitcoin is on the sunsetting phase of its rise. https://twitter.com/badcharts1/status/1779149376264262092 |
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IN, USA
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Posted: 4/16/2024 11:01:15 AM EDT
[#8]
Quote HistoryOriginally Posted By AZ_Sky: I have no problem with that. If I can't hold it in my hand, it's worthless as far as I'm concerned. Tangible assets are worth more than numbers on paper. |
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Posted: 4/16/2024 11:06:36 AM EDT
[#9]
Quote HistoryOriginally Posted By renov8: The reason the electricity argument is still around is because it applies. Simple truths are hard to dispel. Blockchain will be implemented when gold and silver are used in trade...which is where we are headed once the BRIC's get their shit together. Its not a matter of if, but a matter of time before this huge cabal, with over 60% of the worlds population uses something other than the Dollar. Saudi Arabia has joined BRIC's. They are building smelting plants there too. Even Nigeria has built a bourse to handle its own metals exchange. No one seems to put much merit into all of this...ignore at your own peril. Bitcoin is nothing more than another bottomless pit for your greed. I just hope most of you at least buy something that has staying power. Even the charts show Bitcoin is on the sunsetting phase of its rise. https://twitter.com/badcharts1/status/1779149376264262092 Quote HistoryOriginally Posted By renov8: Originally Posted By goloud: The electricity argument has been used for years. If we have a major grid disruption, we are headed for dark times. Everything we know and love needs power. There are more retailers that I know of that accept bitcoin versus PMs. So they may be universally understood, but not universally accepted as currency. The reason the electricity argument is still around is because it applies. Simple truths are hard to dispel. Blockchain will be implemented when gold and silver are used in trade...which is where we are headed once the BRIC's get their shit together. Its not a matter of if, but a matter of time before this huge cabal, with over 60% of the worlds population uses something other than the Dollar. Saudi Arabia has joined BRIC's. They are building smelting plants there too. Even Nigeria has built a bourse to handle its own metals exchange. No one seems to put much merit into all of this...ignore at your own peril. Bitcoin is nothing more than another bottomless pit for your greed. I just hope most of you at least buy something that has staying power. Even the charts show Bitcoin is on the sunsetting phase of its rise. https://twitter.com/badcharts1/status/1779149376264262092 So that chart in a fact or speculation by someone who is bearish on bitcoin? |
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USA
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Posted: 4/16/2024 11:08:39 AM EDT
[#10]
Quote HistoryOriginally Posted By tooldforthis: stupidest argument you can come up with Just because the dollar sucks doesn't make bittytoin any less ridiculous Like saying "Paper houses are stupid, buy ants" Just because that is the excuse used to prop up bitcoin (worthless dollar) doesn't actually give any real value to an imaginary nothing Quote HistoryOriginally Posted By tooldforthis: Originally Posted By MidwestJ: https://i.postimg.cc/d0kQCp1m/IMG-9825.png Ignore BTC at your own peril. stupidest argument you can come up with Just because the dollar sucks doesn't make bittytoin any less ridiculous Like saying "Paper houses are stupid, buy ants" Just because that is the excuse used to prop up bitcoin (worthless dollar) doesn't actually give any real value to an imaginary nothing   Take note of that second image concerning those who believe/invest in BTC. Im sure you’re much smarter than them. Ignore at your own peril |
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Posted: 4/16/2024 11:08:55 AM EDT
[#11]
Your beliefs are not facts.
Are you saying that when the dollar dies, countries and corporations will be flying and shipping PMs around the world for global trade payments? Seems inefficient at best. Because paper PMs could be worse than fiat. Proof of reserves will be falsified. Quote HistoryOriginally Posted By renov8: The reason the electricity argument is still around is because it applies. Simple truths are hard to dispel. Blockchain will be implemented when gold and silver are used in trade...which is where we are headed once the BRIC's get their shit together. Its not a matter of if, but a matter of time before this huge cabal, with over 60% of the worlds population uses something other than the Dollar. Saudi Arabia has joined BRIC's. They are building smelting plants there too. Even Nigeria has built a bourse to handle its own metals exchange. No one seems to put much merit into all of this...ignore at your own peril. Bitcoin is nothing more than another bottomless pit for your greed. I just hope most of you at least buy something that has staying power. Even the charts show Bitcoin is on the sunsetting phase of its rise. https://twitter.com/badcharts1/status/1779149376264262092 |
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PA, USA
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Posted: 4/16/2024 11:10:56 AM EDT
[#12]
Quote HistoryOriginally Posted By woodsie: How is Bitcoin a Fiat derivative? Elaborate on that one for us. As far as how many other places in the world that actually use it, I don't see how that's an argument against any decentralized cryptocurrency. How could any decentralized currency get from introduction to universal acceptance without some period in between where the market for it gets built out by speculators? The only way that any currency could be universally accepted on Day 1 would be if it was centralized by nature aka "by decree" which is what the term "fiat" directly translates to in English. Even if Bitcoin isn't the future and some other decentralized currency is, crypto or otherwise, that future currency won't be universally accepted on Day 1. It's impossible for it to be. Even the markets for gold and silver had to be developed over thousands of years. You seem like a smart guy...figure it out. If I give you my reason for it...its not yours. I don't need to be convinced. 94% of Bitcoin is held by 2%...how does that work? This latest Ponzi scheme is n different from all the others...it is meant to separate you from your money. When the explanations for why you need to hold Bitcoin become more convoluted, every time some ones wallet is hacked, or an exchange is purged of 100 million...I will stick with the archaic rock. Gold and Silver are meant to be held in times of trouble. We have seen that a few times in my lifetime. If you held it during those times, you would be a very rich person today. its like every other insurance policy out there...meant to protect you in times of need, but hoping it doesn't come to that. Its why many of you carry...to protect yourself and those around you. Gold and Silver are no different. Especially when your government is insolvent and has to go back to the printing press this year alone for over 9 trillion dollars, just to stay current. Until something radically changes for the better...having something of real value, outside of the system, is what could be the difference between making it or not. Make the best of where we are right now...opportunity knocks...take advantage of it. |
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PA, USA
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Posted: 4/16/2024 11:16:13 AM EDT
[#13]
Quote HistoryOriginally Posted By Got_Nukes: So that chart in a fact or speculation by someone who is bearish on bitcoin? This guy is just showing the facts...and if the chart shows it...he puts it out. Read his comments...he isn't saying it can't break out...but most likely won't be. Throw in some fundamentals, along with the TA and a picture appears...maybe not in the strokes YOU want to see...but nonetheless...the strokes are there. We all bring a different perspective to this...but don't be fooled by the tid-bits of a "perceived" reality when the facts presented by "reality" clearly show something else. |
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PA, USA
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Posted: 4/16/2024 11:17:34 AM EDT
[#14]
Quote HistoryOriginally Posted By MidwestJ: https://i.postimg.cc/d1HjSHG0/IMG-0523.jpg https://i.postimg.cc/Pfz9fTTG/IMG-0679.jpg Take note of that second image concerning those who believe/invest in BTC. Im sure you’re much smarter than them. Ignore at your own peril All Democrats...lol |
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PA, USA
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Posted: 4/16/2024 11:23:11 AM EDT
[#15]
Quote HistoryOriginally Posted By goloud: Your beliefs are not facts. Are you saying that when the dollar dies, countries and corporations will be flying and shipping PMs around the world for global trade payments? Seems inefficient at best. Because paper PMs could be worse than fiat. Proof of reserves will be falsified. Another straw man argument...proof of reserves can be held by a vault, similar to a duty free zone, where all parties have representation. The solution to your imaginary problem is hardly an issue. Most of these countries don't want to use each others currency...so using a universal currency, backed by gold, silver or a basket of commodities will bring stability to the trade. If at the end of the year or period there is a trade imbalance, that is when the block chain will be used to settle in gold. No different than how a depository works now...the gold stays put, but the name on it can be conveyed to another. Look at what happened when the British Pound stopped being the reserve currency...the info is there if you want to see it. Look it up. I am a huge proponent of you doing your own DD...as anything I put forward will be ridiculed and hen-pecked to death. |
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USA
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Posted: 4/16/2024 11:25:26 AM EDT
[#16]
Quote HistoryOriginally Posted By renov8: All Democrats...lol Quote HistoryOriginally Posted By renov8: Originally Posted By MidwestJ: https://i.postimg.cc/d1HjSHG0/IMG-0523.jpg https://i.postimg.cc/Pfz9fTTG/IMG-0679.jpg Take note of that second image concerning those who believe/invest in BTC. Im sure you’re much smarter than them. Ignore at your own peril All Democrats...lol Money makin democrats. I’m not saying their politics aren’t fawked. |
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Posted: 4/16/2024 11:28:55 AM EDT
[Last Edit: Bama_Rebel]
[#17]
i dont own any gold or BTC
lets say 10 years ago I bought 10K USD worth of gold and 10k USD worth of BTC how much would that gold be worth now? how much would that BTC be worth now? how much is that same 20k USD worth now? |
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Posted: 4/16/2024 11:30:35 AM EDT
[#18]
Quote HistoryOriginally Posted By renov8: This latest Ponzi scheme is n different from all the others...it is meant to separate you from your money. Which money? The fiat currency that is in use by.....essentially 99.999999% of the human race, almost none of whom hold physical gold/silver/PMs in any notable quantity? I don't know anyone who is trading in their Precious Metals (if they have any) for Crypto. Compare the historical (2010>) graph of the value of BTC, verses the graph of the value of the US$/Pound Sterling/Euro/Yen over that same period. |
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Posted: 4/16/2024 11:33:27 AM EDT
[#19]
Quote HistoryOriginally Posted By renov8: Another straw man argument...proof of reserves can be held by a vault, similar to a duty free zone, where all parties have representation. The solution to your imaginary problem is hardly an issue. Most of these countries don't want to use each others currency...so using a universal currency, backed by gold, silver or a basket of commodities will bring stability to the trade. If at the end of the year or period there is a trade imbalance, that is when the block chain will be used to settle in gold. No different than how a depository works now...the gold stays put, but the name on it can be conveyed to another. Look at what happened when the British Pound stopped being the reserve currency...the info is there if you want to see it. Look it up. I am a huge proponent of you doing your own DD...as anything I put forward will be ridiculed and hen-pecked to death. We did the whole countries gold in vaults thing at the world trade center. You seem to basically be proposing btc but backed by gold. BTC is already considered to have value absent any tangible asset backing. Someone has already made a gold crypto backed by physical gold. If that is what you believe in you maybe should get some. |
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Posted: 4/16/2024 11:36:00 AM EDT
[#20]
Telling people to do their own due diligence while you have obviously done none on Bitcoin is priceless.
Have you read the Bitcoin white paper, The Bitcoin Standard, Hard Money, or any of the others? Have you researched the fastest growing ETFs in history, funded solely by Bitcoin, and managed by 11 of the world’s largest financial institutions? The fact that our own government is fighting adoption should be a sign. It’s not for consumer protection. Bitcoin may very well fail, but it won’t be because gold is a superior asset. Quote HistoryOriginally Posted By renov8: Another straw man argument...proof of reserves can be held by a vault, similar to a duty free zone, where all parties have representation. The solution to your imaginary problem is hardly an issue. Most of these countries don't want to use each others currency...so using a universal currency, backed by gold, silver or a basket of commodities will bring stability to the trade. If at the end of the year or period there is a trade imbalance, that is when the block chain will be used to settle in gold. No different than how a depository works now...the gold stays put, but the name on it can be conveyed to another. Look at what happened when the British Pound stopped being the reserve currency...the info is there if you want to see it. Look it up. I am a huge proponent of you doing your own DD...as anything I put forward will be ridiculed and hen-pecked to death. |
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Posted: 4/16/2024 11:37:16 AM EDT
[#21]
Quote HistoryOriginally Posted By renov8: You seem like a smart guy...figure it out. If I give you my reason for it...its not yours. I don't need to be convinced. 94% of Bitcoin is held by 2%...how does that work? This latest Ponzi scheme is n different from all the others...it is meant to separate you from your money. When the explanations for why you need to hold Bitcoin become more convoluted, every time some ones wallet is hacked, or an exchange is purged of 100 million...I will stick with the archaic rock. Gold and Silver are meant to be held in times of trouble. We have seen that a few times in my lifetime. If you held it during those times, you would be a very rich person today. its like every other insurance policy out there...meant to protect you in times of need, but hoping it doesn't come to that. Its why many of you carry...to protect yourself and those around you. Gold and Silver are no different. Especially when your government is insolvent and has to go back to the printing press this year alone for over 9 trillion dollars, just to stay current. Until something radically changes for the better...having something of real value, outside of the system, is what could be the difference between making it or not. Make the best of where we are right now...opportunity knocks...take advantage of it. Quote HistoryOriginally Posted By renov8: Originally Posted By woodsie: How is Bitcoin a Fiat derivative? Elaborate on that one for us. As far as how many other places in the world that actually use it, I don't see how that's an argument against any decentralized cryptocurrency. How could any decentralized currency get from introduction to universal acceptance without some period in between where the market for it gets built out by speculators? The only way that any currency could be universally accepted on Day 1 would be if it was centralized by nature aka "by decree" which is what the term "fiat" directly translates to in English. Even if Bitcoin isn't the future and some other decentralized currency is, crypto or otherwise, that future currency won't be universally accepted on Day 1. It's impossible for it to be. Even the markets for gold and silver had to be developed over thousands of years. You seem like a smart guy...figure it out. If I give you my reason for it...its not yours. I don't need to be convinced. 94% of Bitcoin is held by 2%...how does that work? This latest Ponzi scheme is n different from all the others...it is meant to separate you from your money. When the explanations for why you need to hold Bitcoin become more convoluted, every time some ones wallet is hacked, or an exchange is purged of 100 million...I will stick with the archaic rock. Gold and Silver are meant to be held in times of trouble. We have seen that a few times in my lifetime. If you held it during those times, you would be a very rich person today. its like every other insurance policy out there...meant to protect you in times of need, but hoping it doesn't come to that. Its why many of you carry...to protect yourself and those around you. Gold and Silver are no different. Especially when your government is insolvent and has to go back to the printing press this year alone for over 9 trillion dollars, just to stay current. Until something radically changes for the better...having something of real value, outside of the system, is what could be the difference between making it or not. Make the best of where we are right now...opportunity knocks...take advantage of it. That doesn't make any sense. Why can't you just tell me? I DO need to be convinced and am willing to be convinced that Bitcoin is a fiat derivative if in fact it is a fiat derivative. It seems like a cop out to make an argument and then just tell everyone to figure it out themselves. 94% of Bitcoin is held by 2%...how does that work? Well, two things. 1) A small percentage of entities hold most of the gold too. That's the nature of human life on earth. Virtually nothing of value is evenly distributed. 2) Bitcoin has a few very large custodians. That 2% holding 94% includes entities like Coinbase and Binance which are custodians of Bitcoin on the behalf of the 98%. Gold and Silver are meant to be held in times of trouble. We have seen that a few times in my lifetime. If you held it during those times, you would be a very rich person today. Which times are you talking about? Gold and Silver are obviously a hedge but I don't see any period over the last 100 years where holding either would make a person very rich. Certainly some periods where it outperformed other asset classes but no period where it would have made anyone very rich. The annualized rate of return for Gold over the last 30 years, which is a pretty standard investing time horizon, has been 6.15%. That's better than a poke in the eye with a sharp stick, but it's not making anyone rich unless they had a decent amount of money to invest in the first place. Gold and Silver are no different. Especially when your government is insolvent and has to go back to the printing press this year alone for over 9 trillion dollars, just to stay current. Bitcoin is a liquidity sponge just like Gold and Silver. The difference is that the market for Bitcoin is not nearly as built out as Gold and Silver so there is more opportunity if your investment thesis is based on the government continuing to print and spend. No argument that Gold and Bitcoin don't have some different characteristics that make them better or worse in certain types of adverse conditions but the government printing money one is one where Bitcoin does well. |
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Posted: 4/16/2024 11:38:44 AM EDT
[Last Edit: Obo2]
[#22]
Quote HistoryOriginally Posted By Bama_Rebel: i dont own any gold or BTC lets say 10 years ago I bought 10K USD worth of gold and 10k USD worth of BTC how much would that gold be worth now? how much would that BTC be worth now? how much is that same 20k USD worth now? The closing price for Bitcoin (BTC) in April 2014 was $447.65, on April 30, 2014. Gold April 30, 2014 $1,292.00 oz BTC right now 62,200.20 Gold right now 2,380.69 so roughly $1,240,000 in btc and let's just call it $20,000 in gold being generous to gold and rounding down for btc |
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PA, USA
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Posted: 4/16/2024 11:43:05 AM EDT
[#23]
Quote HistoryOriginally Posted By MidwestJ: Money makin democrats. I’m not saying their politics aren’t fawked. With everything going on today from the left...why wouldn't you think BTC might be another ploy in their arsenal? I bet most of those BTC whales are all getting out now...if they already haven't. |
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PA, USA
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Posted: 4/16/2024 11:46:15 AM EDT
[#24]
Quote HistoryOriginally Posted By Bama_Rebel: i dont own any gold or BTC lets say 10 years ago I bought 10K USD worth of gold and 10k USD worth of BTC how much would that gold be worth now? how much would that BTC be worth now? how much is that same 20k USD worth now? The BTC would be worth more than both of them combined...but the time frame is limited...as is the application you should be looking to use them for. With what I know now...I should have bought 10,000 bitcoins when it first came out....I would be worth hundreds of millions. First in, first to make it. Last out, left holding the bag. Imagine if Gold or Silver did that over its 6000 year history of use. |
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TX, USA
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Posted: 4/16/2024 11:48:38 AM EDT
[#25]
Quote HistoryOriginally Posted By Bama_Rebel: i dont own any gold or BTC lets say 10 years ago I bought 10K USD worth of gold and 10k USD worth of BTC how much would that gold be worth now? how much would that BTC be worth now? how much is that same 20k USD worth now? @Bama_Rebel April 16, 2014 price of Gold: $1,300 oz. @ $10k buy = 7.692 oz. of gold. Gold today: $2396 oz. X 7.692 oz. = $18,430 April 16, 2014 price of BTC: $527 ea. @ $10k buy = 18.975 BTC BTC today: $62,200 X 18.975 = $1,180,245 $20k of USD today appears to be valued at 32% less than it was in 2014, due to the cumulative rate of inflation. Anyone is free to double check and correct any errors shared above. |
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TX, USA
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Posted: 4/16/2024 11:50:09 AM EDT
[#26]
Quote HistoryOriginally Posted By jaqufrost:  I expect the real bitcoin pump to start soon. Yeah, breaking the previous ATH before the halving even occurs bodes well. Fingers crossed it’s moon lambos for everybody. |
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PA, USA
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Posted: 4/16/2024 11:50:31 AM EDT
[#27]
Quote HistoryOriginally Posted By Fulcrum-5: Which money? The fiat currency that is in use by.....essentially 99.999999% of the human race, almost none of whom hold physical gold/silver/PMs in any notable quantity? I don't know anyone who is trading in their Precious Metals (if they have any) for Crypto. Compare the historical (2010>) graph of the value of BTC, verses the graph of the value of the US$/Pound Sterling/Euro/Yen over that same period. Why is it most Americans don't hold PM's? Look it up. I did. Many other countries do hold Gold and Silver...check your sources. |
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Posted: 4/16/2024 11:52:29 AM EDT
[#28]
Quote HistoryOriginally Posted By renov8: With everything going on today from the left...why wouldn't you think BTC might be another ploy in their arsenal? I bet most of those BTC whales are all getting out now...if they already haven't. Now Bitcoin is a dem psyop? Best case scenario is that you are bored, envious, and uninformed and want to stir the pot. Worse case scenario is that you are a paid troll that injects doubt to deepen the price action. |
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USA
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Posted: 4/16/2024 11:54:43 AM EDT
[#29]
Quote HistoryOriginally Posted By renov8: I bet most of those BTC whales are all getting out now...if they already haven't. Bitcoin is a public ledger. Show me how many whales are getting out now. https://bitinfocharts.com/top-100-richest-bitcoin-addresses.html |
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AZ, USA
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Posted: 4/16/2024 11:57:31 AM EDT
[#30]
we can own both
since we're not 5yr old children bound to an arbitrary binary choice.... |
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TX, USA
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Posted: 4/16/2024 11:57:52 AM EDT
[#31]
Quote HistoryOriginally Posted By UTCenturion: the problem with this logic is after 15 years in i still dont know anyone who has bought something with bitcoin. Nor have i heard an example of someone actually exchanging something for bitcoin. Ive heard of people buying bitcoin to get in on a rise, but im not sure theres a real use case in the end. Gold has been a medium of exchange for like 10000 years or more. Its not perfect either it has its problems but atleast it has a track record Quote HistoryOriginally Posted By UTCenturion: Originally Posted By jaqufrost: Most people trust money in their bank held digitally. Bitcoin removes the untrustworthy government and bank from the equation and lets you send or receive value over long distance without knowing or trusting the ssender. It follows a planned inflation cycle that approaches zero inflation over time. Bitcoins inflation rate has been below the feds target rate for four years and in a few weeks it will be less than half the feds target rate for USD. Due to the limited nature and worldwide utility I expect BTC to continue climbing for awhile longer. I believe it's value will stabilize over time as the value increases and acceptance increases. When the last bitcoin is produced 100 years from now there will be 21 million total. If 10% of the United States wanted a 1 bitcoin savings account, they couldn't have it. When you consider it's a worldwide currency hedge, the prospective adoptive population is much larger than 10% of the US. the problem with this logic is after 15 years in i still dont know anyone who has bought something with bitcoin. Nor have i heard an example of someone actually exchanging something for bitcoin. Ive heard of people buying bitcoin to get in on a rise, but im not sure theres a real use case in the end. Gold has been a medium of exchange for like 10000 years or more. Its not perfect either it has its problems but atleast it has a track record I have gold and bitcoin. I have paid for things and settled a debt with bitcoin. I have never done anything with my gold. I can also pay for gold with bitcoin. YMMV |
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AZ, USA
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Posted: 4/16/2024 11:58:19 AM EDT
[#32]
Originally Posted By TheWellGuy: Bitcoin peaked two and a half years ago at about thirty seven ounces of gold. Now worth less than twenty seven ounces. Twenty seven percent decline in two and a half years. Bitcoin is going much lower. now talk about how i could have bough 1.5 bitcoin for one ounce of gold 6 years ago.... |
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Posted: 4/16/2024 12:04:16 PM EDT
[#33]
Quote HistoryOriginally Posted By nomad07: we can own both since we're not 5yr old children bound to an arbitrary binary choice.... Maybe the answer is a gold backed cryptocurrency.  https://www.google.com/search?client=firefox-b-1-d&q=gold+backed+cryptocurrency |
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NE, USA
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Posted: 4/16/2024 12:06:41 PM EDT
[#34]
Quote HistoryOriginally Posted By MidwestJ: https://i.postimg.cc/d1HjSHG0/IMG-0523.jpg https://i.postimg.cc/Pfz9fTTG/IMG-0679.jpg Take note of that second image concerning those who believe/invest in BTC. Im sure you’re much smarter than them. Ignore at your own peril there is so much made up fail in your first picture that it is laughable that you are capable of creating enough confirmation bias to even believe it, let alone post it |
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NE, USA
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Posted: 4/16/2024 12:07:19 PM EDT
[Last Edit: tooldforthis]
[#35]
Quote HistoryOriginally Posted By MidwestJ: https://i.postimg.cc/d1HjSHG0/IMG-0523.jpg https://i.postimg.cc/Pfz9fTTG/IMG-0679.jpg Take note of that second image concerning those who believe/invest in BTC. Im sure you’re much smarter than them. Ignore at your own peril there is so much made up fail in your first picture that it is laughable that you are capable of creating enough confirmation bias to even believe it, let alone post it let us just use the first one DURABLE Uh huh, if absolutely everything works exactly right in society.  as for the second picture, just because people invest in it, doesn't mean they believe in it there is always a rich guy willing to fleece a sucker, guess which one you are |
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Posted: 4/16/2024 12:11:56 PM EDT
[#36]
Quote HistoryOriginally Posted By ARandomClaymore: @Bama_Rebel April 16, 2014 price of Gold: $1,300 oz. @ $10k buy = 7.692 oz. of gold. Gold today: $2396 oz. X 7.692 oz. = $18,430 April 16, 2014 price of BTC: $527 ea. @ $10k buy = 18.975 BTC BTC today: $62,200 X 18.975 = $1,180,245 $20k of USD today appears to be valued at 32% less than it was in 2014, due to the cumulative rate of inflation. Anyone is free to double check and correct any errors shared above. Quote HistoryOriginally Posted By ARandomClaymore: Originally Posted By Bama_Rebel: i dont own any gold or BTC lets say 10 years ago I bought 10K USD worth of gold and 10k USD worth of BTC how much would that gold be worth now? how much would that BTC be worth now? how much is that same 20k USD worth now? @Bama_Rebel April 16, 2014 price of Gold: $1,300 oz. @ $10k buy = 7.692 oz. of gold. Gold today: $2396 oz. X 7.692 oz. = $18,430 April 16, 2014 price of BTC: $527 ea. @ $10k buy = 18.975 BTC BTC today: $62,200 X 18.975 = $1,180,245 $20k of USD today appears to be valued at 32% less than it was in 2014, due to the cumulative rate of inflation. Anyone is free to double check and correct any errors shared above. thank you. Your Numbers are in the same ballpark as OBO. Which corresponds to my basic knowledge of it. That tells me cash money is the worst. It actually loses value. Gold not only holds value it increase's. Pretty much doubled and as the other poster pointed out. Its a relatively safe investment. BTC has performed extremely well. I assume it will only increase in the near future, at least after this halving. |
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Posted: 4/16/2024 12:23:06 PM EDT
[Last Edit: Fulcrum-5]
[#37]
Quote HistoryOriginally Posted By renov8: Why is it most Americans don't hold PM's? Quote HistoryOriginally Posted By renov8: Why is it most Americans don't hold PM's? Because it's not very fungible, practically-speaking (Wally World and KFC don't take Silver Eagles, the Power Company and Water Company won't, either), and the S&P 500 Index Funds are a better long-term investment, and most Americans lack the wherewithal to buy into an additional stream for "Oh, Shit! EMP Strike!" potentialities. When you can't afford a $5000 emergency (a category which covers most Americans), it's hard to get motivated to go into last-ditch stores of value that are measured in $x000/oz. So, yeah, that's generally why. ...and your response was still a non sequitur/red herring to my question of: Which money? The fiat currency that is in use by.....essentially 99.999999% of the human race, almost none of whom hold physical gold/silver/PMs in any notable quantity? I don't know anyone who is trading in their Precious Metals (if they have any) for Crypto. Compare the historical (2010>) graph of the value of BTC, verses the graph of the value of the US$/Pound Sterling/Euro/Yen over that same period. |
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Posted: 4/16/2024 1:07:34 PM EDT
[#38]
You know how I know Bitcoin has already won? No one charts prices relative to gold. And here we are with a gold bug pricing gold relative to BTC.
GAME OVER. |
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TX, USA
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Posted: 4/16/2024 1:08:25 PM EDT
[#39]
Quote HistoryOriginally Posted By Bama_Rebel: ...I assume it will only increase in the near future, at least after this halving.... Quote HistoryOriginally Posted By Bama_Rebel: Originally Posted By ARandomClaymore: Originally Posted By Bama_Rebel: i dont own any gold or BTC lets say 10 years ago I bought 10K USD worth of gold and 10k USD worth of BTC how much would that gold be worth now? how much would that BTC be worth now? how much is that same 20k USD worth now? @Bama_Rebel April 16, 2014 price of Gold: $1,300 oz. @ $10k buy = 7.692 oz. of gold. Gold today: $2396 oz. X 7.692 oz. = $18,430 April 16, 2014 price of BTC: $527 ea. @ $10k buy = 18.975 BTC BTC today: $62,200 X 18.975 = $1,180,245 $20k of USD today appears to be valued at 32% less than it was in 2014, due to the cumulative rate of inflation. Anyone is free to double check and correct any errors shared above. ...I assume it will only increase in the near future, at least after this halving.... Based off of past cycles and past performance that is a good impression and take away to have. Still expect crypto prices across the board to continue to drop post halving for a bit as patterns have also shown. This current cycle has bucked the trend from previous ones. As I stated in the main thread, this was the first cycle that generated (3) three 'new' All-Time Highs in the same cycle: April 2021 Nov. 2021 Mar. 2024 Personally, I am eyeing March 2025 for the fireworks. |
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PA, USA
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Posted: 4/16/2024 1:18:06 PM EDT
[#40]
Quote HistoryOriginally Posted By goloud: Telling people to do their own due diligence while you have obviously done none on Bitcoin is priceless. Have you read the Bitcoin white paper, The Bitcoin Standard, Hard Money, or any of the others? Have you researched the fastest growing ETFs in history, funded solely by Bitcoin, and managed by 11 of the world’s largest financial institutions? The fact that our own government is fighting adoption should be a sign. It’s not for consumer protection. Bitcoin may very well fail, but it won’t be because gold is a superior asset. Are you trying to convince me of BTC's importance? I see the importance of the blockchain behind it...but BTC has no value...other than the number of people who have supported this pyramid over a short period of time. Neither of us are going to convince the other...lets just agree to disagree. |
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PA, USA
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Posted: 4/16/2024 1:20:23 PM EDT
[#41]
Quote HistoryOriginally Posted By woodsie: That doesn't make any sense. Why can't you just tell me? I DO need to be convinced and am willing to be convinced that Bitcoin is a fiat derivative if in fact it is a fiat derivative. It seems like a cop out to make an argument and then just tell everyone to figure it out themselves. Well, two things. 1) A small percentage of entities hold most of the gold too. That's the nature of human life on earth. Virtually nothing of value is evenly distributed. 2) Bitcoin has a few very large custodians. That 2% holding 94% includes entities like Coinbase and Binance which are custodians of Bitcoin on the behalf of the 98%. Which times are you talking about? Gold and Silver are obviously a hedge but I don't see any period over the last 100 years where holding either would make a person very rich. Certainly some periods where it outperformed other asset classes but no period where it would have made anyone very rich. The annualized rate of return for Gold over the last 30 years, which is a pretty standard investing time horizon, has been 6.15%. That's better than a poke in the eye with a sharp stick, but it's not making anyone rich unless they had a decent amount of money to invest in the first place. Bitcoin is a liquidity sponge just like Gold and Silver. The difference is that the market for Bitcoin is not nearly as built out as Gold and Silver so there is more opportunity if your investment thesis is based on the government continuing to print and spend. No argument that Gold and Bitcoin don't have some different characteristics that make them better or worse in certain types of adverse conditions but the government printing money one is one where Bitcoin does well. I don't have the temperament to address all of your insecurities...might help if you spoke to someone. You obviously have some reservations about BTC, otherwise you wouldn't be trying so hard to change my mind. |
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PA, USA
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Posted: 4/16/2024 1:21:51 PM EDT
[#42]
Quote HistoryOriginally Posted By goloud: Now Bitcoin is a dem psyop? Best case scenario is that you are bored, envious, and uninformed and want to stir the pot. Worse case scenario is that you are a paid troll that injects doubt to deepen the price action. Keep telling yourself that...lol |
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Posted: 4/16/2024 1:22:07 PM EDT
[#43]
Quote HistoryOriginally Posted By ARandomClaymore: Based off of past cycles and past performance that is a good impression and take away to have. Still expect crypto prices across the board to continue to drop post halving for a bit as patterns have also shown. This current cycle has bucked the trend from previous ones. As I stated in the main thread, this was the first cycle that generated (3) three 'new' All-Time Highs in the same cycle: April 2021 Nov. 2021 Mar. 2024 Personally, I am eyeing March 2025 for the fireworks. Quote HistoryOriginally Posted By ARandomClaymore: Originally Posted By Bama_Rebel: Originally Posted By ARandomClaymore: Originally Posted By Bama_Rebel: i dont own any gold or BTC lets say 10 years ago I bought 10K USD worth of gold and 10k USD worth of BTC how much would that gold be worth now? how much would that BTC be worth now? how much is that same 20k USD worth now? @Bama_Rebel April 16, 2014 price of Gold: $1,300 oz. @ $10k buy = 7.692 oz. of gold. Gold today: $2396 oz. X 7.692 oz. = $18,430 April 16, 2014 price of BTC: $527 ea. @ $10k buy = 18.975 BTC BTC today: $62,200 X 18.975 = $1,180,245 $20k of USD today appears to be valued at 32% less than it was in 2014, due to the cumulative rate of inflation. Anyone is free to double check and correct any errors shared above. ...I assume it will only increase in the near future, at least after this halving.... Based off of past cycles and past performance that is a good impression and take away to have. Still expect crypto prices across the board to continue to drop post halving for a bit as patterns have also shown. This current cycle has bucked the trend from previous ones. As I stated in the main thread, this was the first cycle that generated (3) three 'new' All-Time Highs in the same cycle: April 2021 Nov. 2021 Mar. 2024 Personally, I am eyeing March 2025 for the fireworks. Nah bro, it's all about Uptober!  Attached File |
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TX, USA
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Posted: 4/16/2024 1:26:30 PM EDT
[#44]
Quote HistoryOriginally Posted By woodsie: Nah bro, it's all about Uptober! https://www.ar15.com/media/mediaFiles/178958/Capture_JPG-3189556.JPG There it is! The "October Surprise" I always hear about. My body is ready. |
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Posted: 4/16/2024 1:27:29 PM EDT
[#45]
Quote HistoryOriginally Posted By goloud: Now Bitcoin is a dem psyop? Quote HistoryOriginally Posted By goloud: Now Bitcoin is a dem psyop? Originally Posted By goloud: The fact that our own government is fighting adoption should be a sign. It’s not for consumer protection. Fixed supply and a public ledger to government spenders (Blue and half the Red too) are like sunshine to a vampire. Their power depends on spending which depends on Brrrrrt. |
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Posted: 4/16/2024 1:28:15 PM EDT
[#46]
Quote HistoryOriginally Posted By renov8: I don't have the temperament to address all of your insecurities...might help if you spoke to someone. You obviously have some reservations about BTC, otherwise you wouldn't be trying so hard to change my mind. Quote HistoryOriginally Posted By renov8: Originally Posted By woodsie: That doesn't make any sense. Why can't you just tell me? I DO need to be convinced and am willing to be convinced that Bitcoin is a fiat derivative if in fact it is a fiat derivative. It seems like a cop out to make an argument and then just tell everyone to figure it out themselves. Well, two things. 1) A small percentage of entities hold most of the gold too. That's the nature of human life on earth. Virtually nothing of value is evenly distributed. 2) Bitcoin has a few very large custodians. That 2% holding 94% includes entities like Coinbase and Binance which are custodians of Bitcoin on the behalf of the 98%. Which times are you talking about? Gold and Silver are obviously a hedge but I don't see any period over the last 100 years where holding either would make a person very rich. Certainly some periods where it outperformed other asset classes but no period where it would have made anyone very rich. The annualized rate of return for Gold over the last 30 years, which is a pretty standard investing time horizon, has been 6.15%. That's better than a poke in the eye with a sharp stick, but it's not making anyone rich unless they had a decent amount of money to invest in the first place. Bitcoin is a liquidity sponge just like Gold and Silver. The difference is that the market for Bitcoin is not nearly as built out as Gold and Silver so there is more opportunity if your investment thesis is based on the government continuing to print and spend. No argument that Gold and Bitcoin don't have some different characteristics that make them better or worse in certain types of adverse conditions but the government printing money one is one where Bitcoin does well. I don't have the temperament to address all of your insecurities...might help if you spoke to someone. You obviously have some reservations about BTC, otherwise you wouldn't be trying so hard to change my mind. Have we arrived at that point in the discussion where you just start insulting people rather than just representing your point of view? You're barking up the wrong tree. I don't take that bait but I'm still happy to consider any real arguments that you have. |
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PA, USA
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Posted: 4/16/2024 1:32:21 PM EDT
[#47]
Quote HistoryOriginally Posted By Jagrmaister: You know how I know Bitcoin has already won? No one charts prices relative to gold. And here we are with a gold bug pricing gold relative to BTC. GAME OVER. Does saying "game over" empower you? Go on X and look at all the finance guys doing TA with charts comparing Silver to BTC, Gold to BTC...and a number of other comparisons... https://twitter.com/NorthstarCharts/status/1780200711269077114 https://twitter.com/NorthstarCharts/status/1779914292889804857 |
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PA, USA
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Posted: 4/16/2024 1:34:55 PM EDT
[#48]
Quote HistoryOriginally Posted By woodsie: Have we arrived at that point in the discussion where you just start insulting people rather than just representing your point of view? You're barking up the wrong tree. I don't take that bait but I'm still happy to consider any real arguments that you have. Pointing out your insecurities is now considered an insult? toughen up...your going to need it once BTC hits the crapper. |
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Posted: 4/16/2024 1:41:48 PM EDT
[#49]
Quote HistoryOriginally Posted By TexRdnec: you can use bitcoin to buy gold check mate i just sold a ruger gp100 here and offered bitcoin as payment. i'm about to sell another soon, i will still accept bitcoin as payment You couldn't mine bitcoin without gold
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Posted: 4/16/2024 1:43:04 PM EDT
[#50]
Quote HistoryOriginally Posted By ToxicMasculinity: Careful backpedaling so hard. You're going to hurt yourself Quote HistoryOriginally Posted By ToxicMasculinity: Originally Posted By TheWellGuy: I'm not suggesting that Gold has increased in value. Just that it's a ruler by which you can measure. Careful backpedaling so hard. You're going to hurt yourself While you're busy making up stuff, I said try to quote me. Seems you're the one pedaling bitcoin... |
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