BTC Has Hit 25K

I think this is just a step on the way up. Once it breaks through solidly, it will be on to 30K and then to 40K. The naysayers will bark how it is tulipbulbs and it will push through 50K. All the naysayers act like they have to put huge gobs of money in to be part of the ride, but all they had to do (or still do) is buy some... $500 would get you in. This is not over. It is Google ca 2005. I was on the BTC wagon early on and have already pulled many times what I gambled out and put it in my pocket, but there is still more fruit on the vine. You don't have to dump the entire contents of your savings to realize a tidy profit. My gut says it has a million dollar a coin potential. I don't know if that will be because BTC is so strong or the dollar was actually the tulipbulbs. https://www.coinbase.com/price If you do decide to buy any, if you use my invite link, we will both get $10 in BTC... https://www.coinbase.com/join/trasmussen

Originally Posted by Patriot76

First I must admit to being a greenhorn on this topic. As such, I am the type of individual BTC is trying to win over for it's value is dependent on acceptance of the masses. Please correct any of my inaccurate statements because it is this thought pattern that will make or break BTC. To be fair you are not advocating a full by in, just providing an opportunity for diversification.

It was introduced by an anonymous individual or entity. We do not know if it is European, Asian, Middle Eastern, etc. in nature nor do we know the true reason for it's existence. Is it an economical or political tool? Is it a tool of the World Economic Forum and part of a plan for a world currency or an economic reset?

It is not backed or supported by any physical asset, commodity, or entity. Most currencies are backed by a standard (gold, silver, diamonds, a nation, etc.) When other currencies fluctuate in value it affects the value of commodities, exchanges, or other physical elements. Is it's support the black market and money laundering. If it supported by the deep state and illegal activity, it will be a strong currency.

To my knowledge there is no direct correlation between the fluctuations of BTC and other economic factors. Can it be electronically manipulated by an individual, entity, or even AI? Does this make it purely a speculative venture dependent on winning over additional converts such as myself? If one individual is dependent on BTC and another does not have an account there cannot be an exchange of goods and services without winning over a convert.

The argument that the dollar is not supported might be partially accurate. The difference is it's fluctuations reverberate through the world economy. The other major difference the United States has natural resources and American ingenuity to support the economy and therefore any currency.

These are the items that need to be addressed to win me over. Please understand I am not critiquing the decisions of others, only pointing out that a barter system would be my choice before cryptocurrency based on my limited knowledge. Ultimately, which cryptocurrency will emerge as a world standard? For now the five senses will guide investments.

No. I am not suggesting you spend the rent money... For that matter, don't spend the grocery money. My original purchase was considered my beer money.... Looking back, I would have been better off to spend my mortgage money. Seriously though, crypto is the future of money and you should familiarize yourself with alternative currency. Paper money is on the way out. Too anonymous for the liking of big brother. Open source crypto is also outside their control, but it will be a digital currency they can control that will be the replacement for the "dangerous and criminally used" cash money.

True. Apparently no one knows for sure who created Bitcoin. As near as I can determine, it was created by someone as an open source, closed supply digital currency. It is open source and there will only be so much created forever. What is set to be made is all there will ever be.

True. The only backing Bitcoin has is its' encryption and the fact there will only ever be so much of it created. I believe it is 31 million Bitcoins, but you can look that up.

The only direct correlation that I expect to see is an inverse relationship between government issued currencies as they print more and more currency. The answer to whether or not it can be manipulated, history says no. There is an extreme reward for the person or entity that can hack the encryption and steal the coins. I consider it unlikely. To an extent, it is speculative move, but in my opinion, so is holding cash or stocks or PM's or anything else. To me, it is just one of the places I stash my money to try to keep it as the US creates 2 trillion magic dollars a year. At this point, it can be converted to cash or other crytocurrency. The thing is, once you have converted you magic government money into something other than magic money, why convert it back? Use your magic money and let the BTC sit. You don't trade your ammo or gold and silver for goods and services. BTC lives outside trackable money and there is no reason to give it back to them to track. If you have to, you can... But why?

The "Great Reset" will destroy all the US money and government issued money to this time. There is nothing supporting any government issued currency other than the people's belief it has value.

I am not trying to "win you over". It is something you have to look into on your own and put to rest your own doubts. I am just presenting what I see as a good opportunity to park some money into a place I believe it will grow, but patience is the key, and not putting money in you will need at the end of the week. I have suggested to buy Bitcoin and Ethereum and Litecoin as well as others several times in the past. Had you, you would be thanking me at this time. All in, I have taken maybe 2K of my money and put it into crypto. I pulled 4K out and bought appliances for my home about five years ago and what I still have has grown to about 45K.

That said, I am not destitute and have gambled on things many times and have won and lost, but have won waaaayyyyy more than I have lost. Once the one world government great reset is put into motion, anything but government currencies will explode (in my opinion). I consider it a wise move to hedge some prior to emergencies.

That sit may not be a bad idea to wait for a pullback.

Ive been holding btc since the LAST time it went pretty high (Dec 2018 i think? when it first hit 20k, then went only downward to about 3k, until beginging to rise again recently)... I really missed out on crypto.... I was doing ton of tinkering with computers when crypto was just starting out and it was always something I wanted to get into back then just never took the initiative to... if I had Id be rolling in dough.

I would encourage anyone who is interested in crypto to buy a few different ones (btc, eth, ltc, etc), just dont put in more than you are willing to lose. It could all go to 0 at any moment for one of many reasons for example:

Electricity could get so cheap somehow, that it does not play a part in mining costs, thus making mining much easier and more profitable/scalable

Technology could advance enough or a breakthrough could happen, that allow much faster mining, thus exploding the supply, driving down the value

Government could outlaw it and try to make anyone owning it a criminal (like they did with drugs), then you would have to decide if its worth the risk holding on to it

There could be a flaw discovered somehow, or an advancement in cryptology, that would make solving the next block nearly instant....

Other things we may not even know or be able to think of...

Basically its neat, could make you a bunch of money, could lose you a bunch of money.

Originally Posted by Patriot76

Thank you for the education. I did not think anyone here had to sell me on the idea, just trying to point out that success of BTC is dependent on the response of the masses. It was also understood that it was only being discussed as one avenue of investment diversification as highlighted in my first paragraph.

Since knowledge is limited most statements were questions. There was no intent to act like an expert nor trying to state facts. In this case playing devils advocate.

The PR managers for cryptocurrencies should focus on the above mentioned government implications of this form of currency. Given the recent election, pandemic, and current social unrest, the libertarians may gain strength in the near future and cryptocurrencies may see a bull market. Just a thought and not an experts opinion. Need to keep this short, early start for a land auction tomorrow.

I hear ya. There is basically nothing that is holding up against the goal to strip from everyone. We live in very interesting times.