I hope mine is not put to use for a couple of more decades.
OT: 11 Bitcoin ETFs Approved by SEC.
- Thread starter Ward Jr
- Start date
But there's a lot of HATRED by some towards crypto. Some refer to it as "rat poison". I believe the late Charlie Munger was the first to call it that.
The late, great Director, Nora Ephron, made an iconic movie, in 1998, "You've Got Mail" that encompassed the internet. She always looked forward to what was around the corner. If she was with us today, I believe she'd make a movie that encompassed bitcoin. If only.
He's an old school dollar-backer to the end. What Charlie doesn't tell you is that Berkshire has major holdings in Central American banks who hold the majority of their reserves in Bitcoin.
Last edited:
I wonder why those Central American banks have a majority of their resources in Bitcoin. 😂😂He's an old school dollar-backer to the end. What Charlie doesn't tell you is that Berkshire has major holdings in Central American banks who hold the majority of their reserves in Bitcoin.
Yep. That's one of the main beauties. It banks the unbanked. Although, Argentina and El Salvador have been thriving after finally ridding themselves of the political rats.
Argentina and El Salvador have had amazing turnarounds in very short order getting rid of corrupt progressive policy, imposing law and order, and focusing on their county's best interests.
Let's hope we're next.
Let's hope we're next.
The first exchange of bitcoin for dollars occurred in late 2009. 5,050 bitcoins were traded for $5.02 via PayPal, making the first price mediated through an exchange (The New Liberty Standard Exchange) at a bargain basement price of $0.00099 per bitcoin.
Thus, around $5.00 back then would have bought you around 5k bitcoins. As I type, bitcoin is currently 51,657.39.
Just think. If any of you had paid $5.00 for bitcoins, instead of buying a pizza for lunch, right before we lost the PapaJohns Bowl to UCONN, you could be a one-man funding source for NIL and have plenty left over to make your heirs and their heirs rich beyond their dreams.
(NOTE: this is not meant as a recommendation for bitcoin. Do your due diligence.)
Thus, around $5.00 back then would have bought you around 5k bitcoins. As I type, bitcoin is currently 51,657.39.
Just think. If any of you had paid $5.00 for bitcoins, instead of buying a pizza for lunch, right before we lost the PapaJohns Bowl to UCONN, you could be a one-man funding source for NIL and have plenty left over to make your heirs and their heirs rich beyond their dreams.
(NOTE: this is not meant as a recommendation for bitcoin. Do your due diligence.)
Those in charge are terrified of something they can't readily manipulate at their citizens expense. Bitcoin doesn't seem to care.
As long as the EURO is below 1.0884 (HOD), it could drop towards 1.06676 - 1.06246 area and complete entire correction.
Corrupt progressive monetary deficits can get flipped quickly with quality leadership. Actual debt will obviously take a little longer.
Senior ETF Analyst at Bloomberg. $2.4 Billion in a Day with around a 17-18 million locked supply. Buy/Sell Pressure currently around 12:1. Things could get very interesting for BTC over the next 18-20 months - especially post halving.
You pretty much are spot on regarding the time frame, my friend.....not that it matters what my analyses determines.
We'll see. There typically would have been a 20-30% consolidation pullback by now heading into the halving. However, Blackrock and the others are purchasing at a torrid pace which is offsetting the selling pressure of the GBTC selloff. A left-translated or even super cycle are on the table now. That would completely re-structure the timing of everything. Interesting times and a beautiful response to corrupt money printing, central bank manipulation, and subsequent inflation.
Last edited:
As it so happens, I trimmed my crypto positions earlier this morning, but keeping a core. As the old adage goes, you can't go broke taking profits. Will be re-deploying those profits in another sector of the market.
Do you honestly believe Bitcoin is a Ponzi scheme as of today? It's a commodity just like gold backed by sophisticated mining operations around the world.
With Madoff, returns to investors were paid from the capital of new investors, rather than from profit earned by the operation of a legitimate business.
I'm closer to 6 1/2% . I trimmed because my allocation grew to 8.5% and because bitcoin hit resistance @ 57K. Obviously, I take more chances than others do. WTF.....you only live once.
Yahoo Finance reports that a soaring number of Americans are now 401(k) millionaires. People have caught this epic bull run.
It's nice to see BTC hit the mainstream after all of these years. Once Blackrock and the others jumped in, the media could no longer pitch it as some evil way to launder money as Blackrock owns the media.
The US dollar is the most laundered currency in the world by a mile. Bitcoin is on a transparent public ledger. It's funny to watch them have to do a 180 now. It could go absolutely parabolic in the near future with the hype and now mainstream access/custody.
We're witnessing a response to Bidenomics and the damage it has done to the US Dollar and America in general. BRICS is another glaring example. I hope this gets turned around this election cycle. It's over time to focus on strengthening the dollar and our country before the point of no return. The point of no return would be the US Dollar losing world reserve currency status worldwide. It's coming if the ship doesn't turn around very soon. America does not have a good reputation worldwide anymore as a result of very poor economic and foreign policy by intention.
I predict Trump will win.
Chris Christie was my choice in 2024. But, I was outnumbered.
America really, really missed its chance by not going with John Kasich in 2016. But again, I was outnumbered.
It is not just like a commodity. It is a line of computer code. Gold exists in physical form. Gold is also less costly to mine than bitcoin too, which uses approximately the entire energy used annually in Argentina. I just don't buy into a "commodity" with such crazy volatility. I hope noone on this site has any NFTs they are trying to unload.
The value in bitcoin is really the blockchain technology. The actual bitcoin is sexy smoke and mirrors, not substance.
Bitcoin mining is now contributing to renewable energy in many countries. It's evolved. Not that it matters much when our government is war-happy and blowing up pipelines.
The "line of computer code" was something Jamie Dimon of JP floated out years ago to try to degrade and protect the dollar. He wants to replace Yellen. However, JP Morgan now has it's own ETF as well as "JP Coin." These big investment guys like to spout things and then do the opposite to gain a good entry point.
The statement that Bitcoin (BTC) is "just a line of code" simplifies a complex technology into a very basic concept. While it's difficult to pinpoint a single individual who first made this statement, as it's a sentiment that has been expressed by various skeptics and critics of cryptocurrency over the years, it reflects a fundamental misunderstanding or oversimplification of what Bitcoin and blockchain technology represent.
Bitcoin is not just a "line of code"; it is a decentralized digital currency that operates on a blockchain, a distributed ledger technology. The Bitcoin blockchain is a public ledger that contains the history of all Bitcoin transactions. This technology enables Bitcoin to operate without the need for a central authority, such as a bank or government, making it a peer-to-peer system.
Additional aspects:
- Decentralization: Bitcoin's blockchain technology distributes its operations across a network of thousands of computers, making it decentralized. This decentralization means no single entity controls Bitcoin, contrasting sharply with traditional currencies controlled by central banks.
- Security: Bitcoin's blockchain uses cryptographic techniques to secure transactions. Each block in the chain is connected to the previous one through cryptographic hashes, making it extremely difficult to alter transaction history, thus providing a secure and immutable ledger.
- Consensus Mechanism: Bitcoin uses a proof-of-work consensus mechanism to validate transactions and create new blocks on the blockchain. This process involves miners solving complex mathematical puzzles, requiring significant computational power and energy, thereby ensuring the network's security and integrity.
- Limited Supply: Unlike fiat currencies that central banks can print at will, Bitcoin has a capped supply of 21 million coins, coded into its algorithm. This scarcity mimics that of natural resources like gold and contributes to its value proposition.
- Network Effects: The value of Bitcoin is not just in its code but also in the network of users, developers, and businesses that support and use Bitcoin. This ecosystem creates a network effect that adds to its value and utility.
- Innovation and Ecosystem: Bitcoin sparked the creation of the cryptocurrency market and the development of thousands of other cryptocurrencies. It has also led to innovations in financial services, including decentralized finance (DeFi) platforms that offer lending, borrowing, and trading services without traditional intermediaries.
- Legal and Regulatory Recognition: Over the years, Bitcoin has gained recognition from legal and financial institutions worldwide. Some countries have started to recognize Bitcoin as a legal payment method, and it's being integrated into the traditional financial system through products like Bitcoin futures and exchange-traded funds (ETFs).
Supply shock incoming if ETF demand trend continues. New supply will be cut in half in some 50 days.
You believe I was going to peck out all of those features on FGF?
I've mentioned this previously but why do you believe all of the major investment players are in now? Why is Stanford the epicenter of the Bitcoin core developers and has been for over a decade? Just monkeying around?
Exactly. They are printing money behind our backs to hand to special interests groups and then those groups send back to the Uniparty. If you're going to do that, why do we need to pay taxes? Why the IRS? Why not print more and create a consumption tax via inflation? That might be the most fair form of taxation anyway.
Ethereum and Chainlink ETFs likely around the corner.
If so, massive BTC ETF liquidity likely will flow into each.
If so, massive BTC ETF liquidity likely will flow into each.
