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Thread: Bitcoin Cracks $5000

  1. #1111
    Quote Originally Posted by Krugminator2 View Post
    Pretty crucial pt for crypto. Will be interesting to see if it puts in a higher low. Wouldn't be surprised if Wednesday CPI is an inflection pt up or down for crypto.
    Took a stab a Bitcoin with gbtc at 12.40. risk to 11.9. will see if it can hold and start a grind up



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  3. #1112
    Quote Originally Posted by Krugminator2 View Post
    Took a stab a Bitcoin with gbtc at 12.40. risk to 11.9. will see if it can hold and start a grind up
    What’s your target?

    Also why not buy BTC itself?



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  5. #1113
    Quote Originally Posted by The Northbreather View Post
    What’s your target?

    Also why not buy BTC itself?
    You can't buy BTC in the stock market.

    Robinhood offers it, but I doubt he trades on there.
    Last edited by dannno; 07-13-2022 at 09:57 PM.
    "He's talkin' to his gut like it's a person!!" -me
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  6. #1114
    Quote Originally Posted by dannno View Post
    You can't buy BTC in stock market.

    Robinhood offers it, but I doubt he trades on there.
    I know that lol.

    What is his target for the gbtc trade as he only listed his out.

    Also why not just buy BTC instead of fund/trust…..

  7. #1115
    Quote Originally Posted by The Northbreather View Post
    I know that lol.

    What is his target for the gbtc trade as he only listed his out.

    Also why not just buy BTC instead of fund/trust…..
    If it gets to the top of the range I will take 2/3rds off and then see how it acts. So 14ish.

    I used GBTC because I just liked the looks of it better on the chart. Very unscientific. It is also trading at a big discount to the the bitcoin it holds. I would never trade the actual Bitcoin. The few times I have traded something other than GBTC I have used the futures.


    Edit July 23rd. I sold a third around the close of 7/15 and most of the rest on the open the next day with a nub end sold into the 15s. Still in a major downtrend. Would like to see it hold higher lows and firm up.
    Last edited by Krugminator2; 07-23-2022 at 09:28 AM.

  8. #1116
    MAJOR change in character in Bitcoin overnight. It is at $21k. Big hold of 20k. Seems like the kind of thing that can have some follow through.

  9. #1117
    Any one here going to admit to holding some heavy, heavy bags now that the ponzi is starting to collapse?
    "Let it not be said that we did nothing."-Ron Paul

    "We have set them on the hobby-horse of an idea about the absorption of individuality by the symbolic unit of COLLECTIVISM. They have never yet and they never will have the sense to reflect that this hobby-horse is a manifest violation of the most important law of nature, which has established from the very creation of the world one unit unlike another and precisely for the purpose of instituting individuality."- A Quote From Some Old Book

  10. #1118
    Quote Originally Posted by devil21 View Post
    Any one here going to admit to holding some heavy, heavy bags now that the ponzi is starting to collapse?
    When is a good time to buy in?

  11. #1119
    Quote Originally Posted by devil21 View Post
    Any one here going to admit to holding some heavy, heavy bags now that the ponzi is starting to collapse?
    What collapse? Been tracing a ruler-straight line at $17k for six months, unbroken. Feels pegged (downward).

    BTW, gold also feels pegged at $1,700ish. Not quite as long as BTC, but the price definitely does not seem organic to me.
    Jer. 11:18-20. "The Kingdom of God has come upon you." -- Matthew 12:28

  12. #1120
    Quote Originally Posted by ClaytonB View Post
    What collapse? Been tracing a ruler-straight line at $17k for six months, unbroken. Feels pegged (downward).
    OK, carry on then. One of the biggest global (if not the biggest, depending who you ask) AUM crypto firm has been exposed as an insolvent ponzi and has filed bankruptcy, with Congress now clamoring to pull Bankman-Fried into hearings about regulation....but nope, no collapse underway at all. Move along, nothing to see.

    BTW, gold also feels pegged at $1,700ish. Not quite as long as BTC, but the price definitely does not seem organic to me.
    Gee, you think it could be all controlled and manipulated?
    "Let it not be said that we did nothing."-Ron Paul

    "We have set them on the hobby-horse of an idea about the absorption of individuality by the symbolic unit of COLLECTIVISM. They have never yet and they never will have the sense to reflect that this hobby-horse is a manifest violation of the most important law of nature, which has established from the very creation of the world one unit unlike another and precisely for the purpose of instituting individuality."- A Quote From Some Old Book



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  14. #1121
    Quote Originally Posted by devil21 View Post
    OK, carry on then. One of the biggest global (if not the biggest, depending who you ask) AUM crypto firm has been exposed as an insolvent ponzi and has filed bankruptcy, with Congress now clamoring to pull Bankman-Fried into hearings about regulation....but nope, no collapse underway at all. Move along, nothing to see.
    Do you understand the difference between an exchange and the blockchain? Every exchange can collapse and if you hold your own Bitcoin, it won't affect you except that it might make it more difficult to convert Bitcoin into USD (which they're already making as difficult as possible, anyway).

    In case you haven't noticed, Bitcoin isn't trying to be compatible with USD. Bitcoin is an entirely separate monetary regime, full-stop.

    Gee, you think it could be all controlled and manipulated?
    If you want to play the black-pill gambit, suit yourself. The Abyss is truly bottomless. There's this thing called "faith" and you need at least a mustard-seed's worth to get into heaven. I don't know what specific tools God is going to use to destroy this world order. Bitcoin may be one of them, or it may not be. All I know for sure is that he's about to destroy this world-order, and what's on the other side is the thing that all men are truly seeking ... Paradise. All the usual suspects hate Bitcoin with the flaming fury of a billion suns. So, for now, Bitcoin must be doing something right...
    Jer. 11:18-20. "The Kingdom of God has come upon you." -- Matthew 12:28

  15. #1122
    Quote Originally Posted by ClaytonB View Post
    Do you understand the difference between an exchange and the blockchain? Every exchange can collapse and if you hold your own Bitcoin, it won't affect you except that it might make it more difficult to convert Bitcoin into USD (which they're already making as difficult as possible, anyway).

    In case you haven't noticed, Bitcoin isn't trying to be compatible with USD. Bitcoin is an entirely separate monetary regime, full-stop.
    I don't care if it's blockchain or smoke signal based. A ponzi is a ponzi and they all collapse eventually when the greater fool bagholders dry up. I understand quite well that the blockchain is just a string of numbers and has no inherent value except as a new kind of accounting ledger gimmick, brought to us by the usual accounting-gimmick suspects. It has no monetary value unto itself and therefore the numbers on your little USB wallet thingie have no inherent value either. It has the same inherent value as your neighbor's dick pic on a USB stick does.

    All the usual suspects hate Bitcoin with the flaming fury of a billion suns. So, for now, Bitcoin must be doing something right...
    Yeah yeah....XYZ hates it so it must be great. That schtick is getting pretty tired lately.
    Last edited by devil21; 11-11-2022 at 05:42 PM.
    "Let it not be said that we did nothing."-Ron Paul

    "We have set them on the hobby-horse of an idea about the absorption of individuality by the symbolic unit of COLLECTIVISM. They have never yet and they never will have the sense to reflect that this hobby-horse is a manifest violation of the most important law of nature, which has established from the very creation of the world one unit unlike another and precisely for the purpose of instituting individuality."- A Quote From Some Old Book

  16. #1123
    Quote Originally Posted by devil21 View Post
    I don't care if it's blockchain or smoke signal based. A ponzi is a ponzi and they all collapse eventually when the greater fool bagholders dry up.
    Well, you're in good company!



    I understand quite well that the blockchain is just a string of numbers and has no inherent value except as a new kind of accounting ledger gimmick, brought to us by the usual accounting-gimmick suspects.
    The Federal Reserve and every other central "bank" in the world is nothing but a ledger, to which numbers are added whenever the government wants them to buy more of its bonds (which it just prints out of thin air, and which they purchase with ledger money created out of thin air). So, if all ledger money is a ponzi scheme, and doomed, then Bitcoin is no worse than any other fiat money in the world on that grounds. The difference is that, unlike a central bank's ledger, the Bitcoin ledger cannot be added to (except for the mining subsidy, which is fully predictable, thus, priced in by the market). Let's see, I can either hold FRNs on the Federal Reserve's magic money ledger, which it dilutes and devalues ad nauseum, or I can hold BTC on the Bitcoin network's magic money ledger which cannot be diluted/devalued. I wonder which is better? The fact that Bitcoin is preferable to any ledger operated by a central "bank" means that we should expect that the ledger-money ponzi schemes operated by central "banks" will collapse before Bitcoin does. So, if all boats are sinking, I'd rather be in the Bitcoin boat than in an FRN boat. Et cetera.

    It has no monetary value unto itself
    Nothing has monetary value unto itself. Search "subjective theory of value."

    and therefore the numbers on your little USB wallet thingie have no inherent value either. It has the same inherent value as your neighbor's dick pic on a USB stick does.
    Calm down with the gay porn there, cowboy... no need to get emotional about an Internet debate. Bitcoin is not free of faults, nor above criticism. But it's objectively better than the fiat "money" issued by any central "bank" in the world, and we're all quite used to doing business with that funny-money. So, Bitcoin is more than capable of doing exactly the same thing, with the same level of performance over time, meaning, ability to function until the "inevitable" ponzi-scheme collapse. And that's assuming your point that it's a ponzi-scheme. Which it objectively is not.



    Yeah yeah....XYZ hates it so it must be great. That schtick is getting pretty tired lately.
    XYZ hates it, and they're not pretending, so it's certainly not "just another trick of the Establishment." Bitcoin may be a lot of things, but it's not a trick of the Establishment. They truly, madly, deeply hate Bitcoin...
    Last edited by ClaytonB; 11-11-2022 at 07:53 PM.
    Jer. 11:18-20. "The Kingdom of God has come upon you." -- Matthew 12:28

  17. #1124
    Uh-oh ...

    https://twitter.com/WatcherGuru/stat...07495211221024
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    Frédéric Bastiat (1801-1850)

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      -- The Law (p. 54)
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      -- Government (p. 99)
    • "[W]ar is always begun in the interest of the few, and at the expense of the many."
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  18. #1125
    El beso de la muerte.


  19. #1126
    Almost hit $64k an hour ago, nearing it’s all time high.

  20. #1127
    The one think I like about Bitcoin is its stability.

  21. #1128
    Quote Originally Posted by Occam's Banana View Post
    Uh-oh ...

    https://twitter.com/WatcherGuru/stat...07495211221024
    good thing i didnt see this , id have sold my last one
    Do something Danke



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  23. #1129
    Quote Originally Posted by GlennwaldSnowdenAssanged View Post
    The one think I like about Bitcoin is its stability.
    lol , to me it is just entertainment, not like I use it for anything , i am entertained just by the filthy feds not bgeing able to print them and load up boatfuls for forign aid and other retard $#@!
    Last edited by oyarde; 02-28-2024 at 06:37 PM.
    Do something Danke

  24. #1130
    Quote Originally Posted by GlennwaldSnowdenAssanged View Post
    The one think I like about Bitcoin is its stability.
    Indeed. USD devaluation is very accurately reflected in the fixed-supply of Bitcoins.
    Jer. 11:18-20. "The Kingdom of God has come upon you." -- Matthew 12:28

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