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Bitcoins/Litecoins/Virtual Currencies
- Thread starter Tripamang
- Start date
Flobee
Ahn'Qiraj Raider
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Yea Binance was allegedly pulling a move with their synthetic stablecoin very similar to what FTX + Tera/Luna did. Trump pardoned CZ (Binance CEO) so I suspect there is some sort of chicanery going on there. I'm still not convinced we're truly in a bear and we're doing the whole 4-year cycle thing again, but I have to admit its looking more likely by the day.
Kithani
Vyemm Raider
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Flobee
Ahn'Qiraj Raider
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Arden
Vyemm Raider
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Satoshi was actually Epstein is pretty good. Agree we are getting close, but I need to see more "Bitcoin is dead" buzz before I call true bottom
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Tuco
I got Tuco'd!
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She made fun of me for buying a buttcoin for a while, but stopped when it increased passed a 1,000% ROI. It's still above 10,000% ROI now so I'm good.Tuco have you told your wife your 1 btc is worth half now? Did she get hispanic mad?
If it ever drops below $500, she'll go back to making fun of me again.
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Punko
Macho Ma'am
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There is no factual reason that prevents BTC from losing 99.99% of its value or more.
Don't have a horse in this race but it sure is interesting to follow.
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Arden
Vyemm Raider
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Punko
Macho Ma'am
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Not really.
Just think of land. It is not going to lose all of its value, unless it gets nuked, in which case you have a bigger problem.
Kithani
Vyemm Raider
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Meh plenty of people had valuable land in Detroit 50-60 years ago that is dirt cheap today but I do agree with you overall
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Arden
Vyemm Raider
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Land is great- unless it gets seized by the Government.
There is literally no scenario where an investment can't go to zero. It's just a question of risk/reward.
Punko
Macho Ma'am
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Caliane
Naxxramas 1.0 Raider
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land actually has a bunch of scenarios to bring to zero or less.
floods, erosion, any long term toxic waste/containment not just nukes
its greatly effected by neighbors. neighbor builds a gun range next door, neighbor builds a strip joint next door, etc.
state annexation, etc.
taxes. and because you are paying taxes on your land every single year, that is cutting out any potential profit. if you have land worth 200k, and pay 4k a year on property taxes. well then the "value" of that land is going down 4k every year.
floods, erosion, any long term toxic waste/containment not just nukes
its greatly effected by neighbors. neighbor builds a gun range next door, neighbor builds a strip joint next door, etc.
state annexation, etc.
taxes. and because you are paying taxes on your land every single year, that is cutting out any potential profit. if you have land worth 200k, and pay 4k a year on property taxes. well then the "value" of that land is going down 4k every year.
Flobee
Ahn'Qiraj Raider
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Sure, I mean the ability to transmit value anywhere in the world without needing to trust any third party, or the even the other party of the transaction, with instant* final settlement has "no factual reason" to be valuable.
An incorruptible ledger that can't be counterfeited, has the ability to be used privately, can be transported anywhere in the world by simply memorizing a seed phrase, and can't be easily confiscated.
That zero to one innovation?
Your position is foolishness and there is no Bitcoin price that can change that, no matter how low. So long as Bitcoin continues to work as designed this doesn't change. You're not alone, plenty have danced on Bitcoins grave before and will continue to do so. I'm convinced most people that don't understand the intrinsic value of this don't see how valuable instant un-reversable settlement is.
USD price does not invalidate what Bitcoin is. Granted maybe trimming the position a bit at $120k would have been a good move
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