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Epic Pennant on BTC Chart


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8 hours ago, Seoulite said:

Isn’t “economic proposition” just a fancy way of saying “it has value because people believe it has value”? Even tulips have value aside from what people believe about them.  It could be argued that btc actually has negative value because it is an energy hungry line of 1s and 0s. Like an old computer you just leave running all the time but never use.

Tulips did not solve double spend problem and were not fault tolerant, you could not send them to other end of the world in 30 or so min 🙄

Everyone worries about BTC consuming energy, but noone seems to worrie about how much day to day devices consume, and with IoT and smart homes it will grow exponentially.

Tulips also did not require as much work as BTC requires to obtain it, not speaking about tulips inflation 🤣🤣🤣

9 hours ago, Plikk said:

Eventually BTC can be superseded by another project, but that moment lies far in the future. We are seeing a shift in old money from traditional assets to BTC, en masse. 

Or BTC can become a better tech, we speak about tech right? Which ofcourse depends on it code keepers and miners and exchanges, this is were so called decentralisation is narrowed to some sort of small consortsium. 

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Well guys for those of you that got in late 2017, this is what the beginning of a Bull Market feels like.  There will be ups and downs of course, but it will get much crazier with much higher valuatio

Just taking the time to say a huge thank you to you @Eric123. I have been reading this thread daily for a long time now. I don't often sign in to post something so this thank you and acknowledgment of

I was a bit bored, so I decided to analyse the reactions in the first 404(!) pages of this thread. In those 404 pages, 3938 comments received a reaction, and in total there were 11515 reactions g

>Everyone worries about BTC consuming energy, but noone seems to worrie about how much day to day devices consume, and with IoT and smart homes it will grow exponentially.

 

Solid reasoning here. Thee is nothing to be worried about or sceptical of when it comes to 10b people relying on pow coins for they financial needs, absolutely nothing. Also, has anybody stopped for a second to think about uselessness of smart homes, I mean who needs energy efficiency in their homes.

 

 

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Bitcoin is trying to find it's near term support level and trying to break through the short term down trend that it has been in since Monday.  Once support is established and it either gets some sideways or up movement that level should provide some decent support going forward.

I think now is a good opportunity and I'd be buying some ETH and XRP if I could.

11 hours ago, MQB said:

This must be the first joke I read from you for the entire 4 years, as serious as a lawyer and crypto trader as you are.

It's not a joke.  If you look at the last alt season it occurred at the end of Bitcoin's Bull run, Bitcoin hit it's ATH on December 16, 2017  - after that the alts took off -Alt Season (look at the charts of ETH, XRP, LTC, NEO, OMG, etc) and they mostly topped out a month later on Jan 18, 2018.  So yeah Bitcoin's got more running to do before it tops out and ALTS really start moving.

2 26 2021.png

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8 minutes ago, Eric123 said:

It's not a joke.  If you look at the last alt season it occurred at the end of Bitcoin's Bull run, Bitcoin hit it's ATH on December 16, 2017  - after that the alts took off -Alt Season (look at the charts of ETH, XRP, LTC, NEO, OMG, etc) and they mostly topped out a month later on Jan 18, 2018.  So yeah Bitcoin's got more running to do before it tops out and ALTS really start moving.

2 26 2021.png

Actually alts took off starting march to may 2017 after BTC had its first run, then consolidated and went again reaching another ATH december 2017.

XRP for example went from $ 0,005 to $ 0,40 in may. Then fell back, bounced between 15 and 30 cents for a few months and then ran up to $ 3,75 during december.

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3 minutes ago, Caracappa said:

Actually alts took off starting march to may 2017 after BTC had its first run, then consolidated and went again reaching another ATH december 2017.

XRP for example went from $ 0,005 to $ 0,40 in may. Then fell back, bounced between 15 and 30 cents for a few months and then ran up to $ 3,75 during december.

If we break it into two seasons which it kinda was.  The first one probably starts in 2-6 weeks. 

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21 minutes ago, Eric123 said:

It's not a joke.  If you look at the last alt season it occurred at the end of Bitcoin's Bull run, Bitcoin hit it's ATH on December 16, 2017  - after that the alts took off -Alt Season (look at the charts of ETH, XRP, LTC, NEO, OMG, etc) and they mostly topped out a month later on Jan 18, 2018.  So yeah Bitcoin's got more running to do before it tops out and ALTS really start moving.

 

Hello the alts season you refers is when ALL alts start off at almost the same time, SATS VALUE wise.

This ongoing alts season refers to sats value increase, money flowing from one batch of alts to another. Most will top out sometime in June, with a few deep into September/OCT.

I agree it's time to switch from BTC to ETH, or ADA/DOT. We'll see BTC.D break the support line soon.

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14 hours ago, WarChest said:

I think that this is something that, as crypto holders investments grow in fiat value, will give great concern. The thought process will be, “I have a large pot of cypto, what do I do with it now?” If Fiat is to become untrustworthy what will I sell my crypto for? 

Crates of fine whiskey, and mint condition vintage comic books !

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13 minutes ago, JASCoder said:

Crates of fine whiskey, and mint condition vintage comic books !

It's a serious question, though.

I guess once lightning pool rolls out their GUI, one could try and get some yield for non-custodially provided liquidity in a 2/2 multisig setup, in the beginning fixed for 2016 blocks. I can't verify this but Marty Bent had an interview with Preston Pysh and he said he was looking at 8-15% annual yield on Pool.

It's scary, tbh. Can't trust BlockFi, because "not your keys, not your coins".  Can't trust Real Estate because of property taxes, expropriation risk, forced mortgage risk (Germany pulled that off twice in the last 100 years) and generally Real Estate is in a huge bubble, because everybody parks their money there to save themselves from inflation.

Stock markets are in crazy valuations... Bond markets? yeah right...

Damn, I mean.... we might have to stop thinking along the lines of "my crypto portfolio is worth x million USD", but rather "I have x amount of sats" and that's it.

I don't know. I work in finance, I see this all day. It's scary af.

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14 minutes ago, Nat99 said:

It's a serious question, though.

I guess once lightning pool rolls out their GUI, one could try and get some yield for non-custodially provided liquidity in a 2/2 multisig setup, in the beginning fixed for 2016 blocks. I can't verify this but Marty Bent had an interview with Preston Pysh and he said he was looking at 8-15% annual yield on Pool.

It's scary, tbh. Can't trust BlockFi, because "not your keys, not your coins".  Can't trust Real Estate because of property taxes, expropriation risk, forced mortgage risk (Germany pulled that off twice in the last 100 years) and generally Real Estate is in a huge bubble, because everybody parks their money there to save themselves from inflation.

Stock markets are in crazy valuations... Bond markets? yeah right...

Damn, I mean.... we might have to stop thinking along the lines of "my crypto portfolio is worth x million USD", but rather "I have x amount of sats" and that's it.

I don't know. I work in finance, I see this all day. It's scary af.

This part of it is still somewhat difficult to fathom, at least for me. That value is going to incrementally/exponentially shift to the ledger and be measured in sats rather than dollars. I get that it, or something like it is going to happen. But it's along the lines of a genuinely new invented language emerging to replace english as a global language and all the others along the way. Like, what?

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@Nat99 - I've read in the past that some baseball cards have done very well over the decades, but preserving wealth in these modern times is indeed a challenge.

Traditionally, family wealth over the centuries were best served by a mix of:

  1. Real Estate (including income property)
  2. Precious metals 
  3. Antiquities, such as fine art

Given the fact the U.S. still has laws on the books permitting the confiscation of gold bullion as they did under FDR's (?) Administration, that might not be the best either. Silver is too bulky, but very attractive at this time (for many reasons).

Two choices I would look at if I was so blessed to care heh, would be old gold coins (can't be confiscated, as it's classified as antique coinage), and "sovereign silver," aka "junk silver." These choices won't make you rich, but they won't let you go poor :)

Let us hope we be having this vexing issue in our future, eh mates. 

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1 minute ago, JASCoder said:

Let us hope we be having this vexing issue in our future, eh mates. 

You know, the thing about "nice problems to have", is that they are still a problem.

And gold kinda sucks I think. Collectibles probably less, but it's still being inflated at 1.5% p.a.

About "cannot be confiscated because law XYZ", that's a bit short sighted IMO. I don't want to go too philosophical but laws and constitutions are just trusted third parties so we don't smash our skulls. And since they are trusted third parties they get abused all the time. Just as an example, "shall not be infringed" has been infringed tens of thousands of times on state and federal level. So much for "inalienable" / "God given". No disrespect, but given these can be and are routinely being taken away, they are not rights, but privileges. A right is sth you can't take away. A president may issue an executive order banning gravity, but nothing will happen. He may issue a 6102 and the Supreme Court may or may not rule it unconstitutional, but there's no guarantee.

We Europeans envy the US for its constitution, but at the end, it's just a piece of paper.

Until we don't fix the physical attack vector problem for humanity (hey Elon, wanna invent a defensive device the size of a lighter that protects us from all physical harm? pretty please...), we're all subject to third parties dictating our lives.

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6 hours ago, gxVg826hmf8 said:

>Everyone worries about BTC consuming energy, but noone seems to worrie about how much day to day devices consume, and with IoT and smart homes it will grow exponentially.

 

Solid reasoning here. Thee is nothing to be worried about or sceptical of when it comes to 10b people relying on pow coins for they financial needs, absolutely nothing. Also, has anybody stopped for a second to think about uselessness of smart homes, I mean who needs energy efficiency in their homes.

 

 

Broken logic

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4 hours ago, Eric123 said:

If we break it into two seasons which it kinda was.  The first one probably starts in 2-6 weeks. 

This time different, as some alts broke ATH, some are still on the way. e.g. ADA broke today while rest are bleeding. Same for ETH. It seems they move in groups.

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