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2 other people worth a follow:
Willclemente
Yearofthebull - literally predicted the bottom of this mid cycle dip within 1k based on the previous 2 bull cycles
Lol you really like the sound of your own voice ay..
How to tell someone you don’t fully understand BTC without telling them… read Harchris posts lol
No offence bud. Market too big for influencers lol that’s what caused this crash.. nothing to do with the fact it was predicted by many and following the usual bull market dynamics and the mathematics of this beast.
Back to plan B, again, don’t know what you’re talking about! 2 separate models!
The bloke has analysed and so far like clockwork based on models used in other financial markets but I guess it’s the influencers fulfilling the price trend ha ha
His monthly predictions have been bang on the money!
Good luck mate, all the best
Btc needs proper regulating and needs China. I am losing faith……the biggest Market to btc was essentially China. It’s bad news what they are doing. China govt sitting on 20,000 tonnes of gold they use that to back China digital currency it could easily become a much more viable store of value.
Without regulatory framework btc will be mainly used for illicit transactions. I’ve used btc for 8 years to buy weed online as have many others have bought harder drugs without that start btc would never be where it is today, silk road was the place Now you have hundreds and some aren’t even on the dark net but all of accept btc. Legalise weed you legalise that part of btc.
Regulatory framework could also sea to these violent swings, 2 % own 90 %of Bitcoin this is obviously causing problems.
"How on earth have gift cards / tokens ever caught on.. That would be a hard sell in the boardroom.
"
Because many gift cards are either not redeemed at all, or are partially redeemed.
@the_chuz I think the biggest problem with what you're saying is that there are many powerful people who want bitcoin to fail, like Zuckerberg for example. Many of his contemporaries have made fortunes from bitcoin, like the winklevoss twins and Dorsey and those that haven't don't tend to speak as fondly of it - probably due to professional jealousy.
Far from introducing bitcoin to facebook they've instead attempted to create their own currency. On top of that Zuckerberg has toyed with the bitcoin community, allowing rumours to circulate that facebook were going to put bitcoin on their balance sheet only for it then to fall flat - he then went on to cheekily announce he owned bitcoin, a goat he's named bitcoin not the digital token.
Traditionally September is not such a good month for bitcoin.However October and November are.This cycle is uncannily similar to 2013 and 2017 which would still mean a blow off top Dec earliest.Don’t forget Taproot a massive upgrade for bitcoin in early Nov.Still could pull back a bit but it’s coming to end game in this cycle.Everyone has their own opinion so I will leave it to better minds than mine.atb
Another thought...
How on earth have gift cards / tokens ever caught on.. That would be a hard sell in the boardroom.
I'm going to ask you to buy this paper token and maybe even pay a small fee for doing so then you will be able to spend it in my shop... Why, do you not accept fiat?
yes of course we do but you could give it to someone as a gift.
OK, could I not just give them fiat to spend in your shop if they wanted the gift from your shop... Of course you can... Hmmn hahaha
To get gift cards mainstream they would of been at a discount.. I. E. Buy £100 worth of store credit with £98.
The world is just bonkers and us mere mortals are just along for the ride.
well said heres hopin - as long as its around it will jump leaps and bounds
@Harchris
Decent post, I liked that, but the key thing to adoption is creating a market.. Yard sticks back in the day would not of been used as currency unless it was mandated that you had to pay your tax with them.
The bigs boys will know this and need to think of a way, a platform or such like that can only be used with btc.
Think twitter, Facebook, ebay, start small and allow the use of btc alongside PayPal, get people use to it and make it more attractive to use btc, once you hit critical mass then turn off the other payment methods.
Now you have intrinsic value to btc because if you want to buy something in ebay (easiest example) then you have to pay in btc
I don't think any of those big names you've mentioned have been taken in and duped, it's a bit more complicated than that. The success of bitcoin is based largely on confidence (as well as developments of course like the lightning network), by buying in and becoming strong advocates for bitcoin the likes of Saylor, Musk and Dorsey increase the chance of others joining the party and the price of bitcoin rising. Wild predictions and claims have historically played a massive part in the very high yoy returns, they became a self-fulfilling prophesy where bitcoin advocates predicted so and so price, this created hype and with it an increase in the price and in doing so gave credibility to those making the predictions.
What's happened in the past six months is that bitcoin got too big for those advocates to influence like they could before - too many big players involved and the mcap too high. Those folk, like the poster below's namesake TheWolfofAllStreets, have slowly lost credibility after continuing the same pumping strategy despite losing that influence. They are stuck between a rock and a hard place in all honesty - if they stop pumping bitcoin and say predict a three year bear market for example, it will likely play a part in creating that reality, as all those that follow decide to sell and buy back in after the next halving.
The HODL mantra was genius and created the potential for enormous rises in the price of bitcoin but that is slowly being replaced with a trading approach, with regular people happy to siphon off small profits rather than 'hold for gold'.
All that is not to say that bitcoin won't continue to rise over time but I highly doubt we'll see anywhere near the 200% compounded yoy on returns that bitcoin has seen since its inception and nor should it be the aim now - if it beats the S&P yoy with something like 20% returns, which is evidently possible, then that will be a huge success.
Got another one for you.. £6 in 1970 had the same purchasing power as. £100 today. Its true that btc might fall in value, but it's an absolute fact that fiat gbp will defiantly fall in value
@poptimist
"Just hope 20k can hold and the hype put to bed. At $20k
ARB would still be profitable, just not huge."
Ive no idea about price just in it for the ride ha.
BUT I'll give you an anecdotal thought which should help you sleep better tonight.
Throughout the price swings on ETH I've made about the same fiat through its crashes because the difficulty adjusts and I mine more.. The fiat output is actually comparable.
If the a*se fell out of the BTC price then I would imagine people would also start to give up and move onto greener pastures.. This then will be reflected in the difficulty and we would mine more.
As nuts as its sounds, being at 20k might be better for us, think of how many less effecint setups would have to turn off because they cant generate the same revenue, think of the other big players who have debt.. They would need to sell thier btc to stay afloat.
If you can stay debt free then a significant crash over a sustained period would most likely be of benifit to argo.
Better? :)
Is £100k realistic though seriously?
I think you’ve got to look at btc as a store of value rather than thinking it’s going to take over the global financial system.
It’s the new age gold.
Keep off the beer
For 6 months we've been swamped with bitcoin going to $100k by year end. Week after week of crap forecasts and frankly, utter tripe. Right now I'm beginning to think we are all being played and the PTB have taken full control of bitcoin. Saylor, Dorsey and maybe even Musk taken in and duped like the rest of us. Anybody feel different? Then tell us why. Because it looks pretty dismal right now. With many now saying another big drop imminent but don't worry, it will all come good in 2200....... 79 years on, FFS. $100k, never happen is how just now, I'm feeling. $43k looks enormous, let alone the ridiculous numbers wittered on about with sod all likelihood. Just hope 20k can hold and the hype put to bed. At $20k ARB would still be profitable, just not huge.