Bitcoins/Litecoins/Virtual Currencies
- Thread starter Tripamang
- Start date
Punko
Macho Ma'am
- 8,349
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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
the tech is well known by now and has been replicated thousands of times
it does not have intrinsic value based on the tech behind it, it isn't unique and it isn't the best at what it does
Punko
Macho Ma'am
- 8,349
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sure thing buddy
most people that buy property see it lost to floods, erosion, of just toxic waste
have you considered wearing a plastic bag as a face cover? it prevents covid infection 100%, you only need to wear it for 10 minutes
Flobee
Ahn'Qiraj Raider
- 3,132
- 3,651
There is only one first. Distribution matters and it's the only "block chain" that is actually decentralized. You are categorically incorrect.
We've already had a year of languishing to prep. Our loins are already fully girded and im locked in for another 3 years!
TJT
Mr. Poopybutthole
- 46,506
- 127,060
Most Western people just lack context.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
Between Western nations there is very little financial friction. If you have regular people amounts of money and need to spend $50k on a major life purchase in another country. This is trivial and bitcoin is not necessary here nor would it make the transaction easier.
However in many countries in the world there is only one banking system and they can nay on anything you do involving sending money outside the country. Bitcoin gets around all of that. Making it priceless internationally.
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Arden
Vyemm Raider
- 3,106
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So far BTC is following the cycle to the letter. No guarantee it will continue to do so, but if it does, we have at least one to two more legs down, then it needs to wallow in the doldrums for a while. Then a climb to a new ath.
Macroeconomic conditions are very different this time around from the last few cycles, though. Worth keeping in mind
Macroeconomic conditions are very different this time around from the last few cycles, though. Worth keeping in mind
Sheriff Cad
scientia potentia est
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The last big drop of bitcoin was (roughly) correlated to the market drop in 2022 though. When the market started recovering so did Bitcoin.
The market is kicking near ATH's and Bitcoin has lost ~40% in the last 6M. This is very different than the last one.
Arden
Vyemm Raider
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Not a TA wiz by any means, but just looking at the 4 year cycle:
2013 peak: ~$1,132 (Nov 2013)
Bear low: roughly $150–$165 area in early 2015
Drawdown: ~-85% to -87%
2017 peak: ~$19.7k (mid-Dec 2017)
Bear low: ~$3,122
Drawdown: ~-84%
2021 peak: ~$68,982 (Nov 10, 2021)
Bear low / base: ~$15.8k area
Drawdown: ~-77%
2025 peak: ~$126k
A roughly equivalent drawdown would be a cycle low of $20k–$35k.
But - I don't think you can look at BTC in a vacuum. I think this is a case of history rhyming, but not repeating.
I don't see 20k, and I think 35k is even unlikely. My personal projection on the bear cycle is 50k
1. ETFs change things and dampen downside.
2. QE is almost certainly coming.
3. The money printing train can't be stopped, and BTC is no less a safe harbor than it always has been (so long as you can stomach short term volatility)
Don't want my post to get too long, but there are some negatives too though, that might counter the three things above.
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