Let's talk about Cryptocurrencies

[dino7c]

Originally Posted by kevman

The end game is keeping the hype up. You're not buying an asset, you're buying hype, and the hype has been incredibly profitable for those that have realized their gains.

There's no denying it's been an incredible investment for some but I can't get my head around the fact that it's a zero sum game. For every dollar realized there has been a dollar lost, so crypto as an asset has not generated any wealth, only redistributed it.




Right? But really unless you're crypto agnostic you're either
a) a believer - invested and need to convince others to invest because that's the only way to drive the price up and increase your investment or
b) a doubter - missed the boat and wish you didn't so you're trying to convince others to sell to drive the price down so you don't feel like you missed out

That's it. You're either in or in the way. Literally. And the ins and in-the-ways will argue until the end of time.

This is pretty damming for the in the ways though...the fact the argument continues means the asset still exists
I mean its the 7th largest asset in the ####ing world

[dino7c]

Originally Posted by Fuzz

There is value in cryptocurrency technology. Most other cryptos are better at doing what you described as the benefit of Bitcoin, so it's not unique, and is also not great at being a cryptocurrency. Logically it shouldn't be worth much, which is all I've ever been saying. But not much functions logically these days, so if you can make money off riding coat tails, well that's not necessarily a bad strategy as a small fish. Occasionally you can get eaten though.

This is FALSE...BTC is by far the best Crypto to move large volumes of wealth and also controls the Crypto market. I am at least a medium fish ...I will be okay.

Like be honest, you once thought Bitcoin was done and about go to zero. What is more likely to you? 500k Bitcoin or Zero within 3-5 years. 500k is basically guaranteed, the capital is being raised to make it happen. You still debate as if we are talking about a flash in the pan not the 7th, soon to be 5th largest asset in the world.

[Jason14h]

Stablecoins are the best for moving large volumes of wealth .(why am I wrong ?)

[topfiverecords]

Originally Posted by topfiverecords

Central Calgary also mainly uses Tron as well.

I predict it reaches an all time high this year.

Oh hey look, I can predict all time highs too! Tron hit $0.2172 USD this morning exceeding the previous high of $0.2095 USD of Jan 4th 2018.

If only I had avatar bet someone....

[dino7c]

The highest price for TRON (TRX) is $0.2317, which was recorded on Jan 05, 2018

Even your trolls are inaccurate but with BTC driving the market like I have been saying for nearly a decade I do expect TRX to hit all time highs as I own it as I do all the other top Crypto Currencies. I just know what one really matters long term

[dino7c]

Originally Posted by Jason14h

Stablecoins are the best for moving large volumes of wealth .(why am I wrong ?)

Because they are tied to the dollar...which is exactly what people want to avoid

[topfiverecords]

It appears my unforgettably aphoristic PM ten months ago still holds completely true.

[GGG]

Originally Posted by dino7c

This is FALSE...BTC is by far the best Crypto to move large volumes of wealth and also controls the Crypto market. I am at least a medium fish ...I will be okay.

Like be honest, you once thought Bitcoin was done and about go to zero. What is more likely to you? 500k Bitcoin or Zero within 3-5 years. 500k is basically guaranteed, the capital is being raised to make it happen. You still debate as if we are talking about a flash in the pan not the 7th, soon to be 5th largest asset in the world.

Can you expand on what it means that the capital to make Bitcoin 500k is currently being raised?

[dino7c]

(For TOP5 Just to be clear)

People don't want to hear us bicker anymore...move on

I have a proven track record and a Crypto portfolio UP over $1M. I have done something right obviously and some posters want to hear my takes agree or not.

[dino7c]

Originally Posted by GGG

Can you expand on what it means that the capital to make Bitcoin 500k is currently being raised?

Talking about whales currently raising as much capital as possible to buy every bitcoin they can get their hands on. Like Microstrategy planning to buy 42 billion worth over the next 3 years. Stronger hands, more scarcity, less volatility. 500K is kind of an arbitrary number, might be bullish for 3-5 on second thought. I see 30% or so gains annually so not CRAZY but also not the insane volatility.

30% gains over the next 20 years puts BTC above 13M though...give or take

[Jason14h]

Originally Posted by dino7c

Because they are tied to the dollar...which is exactly what people want to avoid

But you said moving large amounts of wealth - not protecting against USD disinflation

People also want to avoid downside risk when moving large amounts of wealth

[topfiverecords]

Are we re-titling this thread dino's BTC Buy thread yet, since anytime anyone posts anything he thinks this thread is about him and must post immediately in response. So vain. Probably thinks there's a song about him too.

[Raekwon]

Originally Posted by Winsor_Pilates

Maybe I'm not understanding this, what do you mean?

Crypto is not real its a made up digital currency created to fix issues with the system but because its not really backed by anything physical. So lets take Dino7c for example lets say he holds crypto valued at 5 million dollars, for him to get that money someone has to buy it so Bitcoin didn't generate his wealth someone buying it with their wealth did so it was basically transferred. That said though you can buy goods and services with crypto as a currency so I feel that is starting to change.

I was thinking about this last week and the lines are starting to blur between crypto and fiat currencies which with the rate the value of crypto is going up has to be contributing to inflation somehow.

Edit: Its far more nuanced than this and always changing but this should basically explain it.

[Winsor_Pilates]

Originally Posted by Raekwon

Crypto is not real its a made up digital currency created to fix issues with the system but because its not really backed by anything physical. So lets take Dino7c for example lets say he holds crypto valued at 5 million dollars, for him to get that money someone has to buy it so Bitcoin didn't generate his wealth someone buying it with their wealth did so it was basically transferred. That said though you can buy goods and services with crypto as a currency so I feel that is starting to change.

I was thinking about this last week and the lines are starting to blur between crypto and fiat currencies which with the rate the value of crypto is going up has to be contributing to inflation somehow.

Edit: Its far more nuanced than this and always changing but this should basically explain it.

But how it that different from standard currency which is essentially calculations in a bank computer until you spend it?

[Fuzz]

Originally Posted by Winsor_Pilates

But how it that different from standard currency which is essentially calculations in a bank computer until you spend it?

Banks are regulated and have rules requiring liquidity, amoung many many others.

[Fuzz]

Originally Posted by dino7c

That's like saying what if everyone tries to take their money out of the bank on the same day...its not a realistic worry (and they don't have it anyway lol)

The top BTC holders are doing everything they can currently raise capital to acquire more bitcoin. There certainly can and will be dips but it won't be from the holders that matter for long term success. Microstrategy wants to buy 48B worth of BTC over the next three years...they would love for us to sell and get a discount.

I have been saying this for years...every "crash" just gets the finite supply into stronger hands

Microstrategy is like a matryoshka doll. They buy bitcoin by selling bonds, which are debt. They make money on the difference, which is fine if BTC keeps going up, but a big plunge could really destroy them. The fact that their share price is almost 4x higher than the price of BTC is almost as confusing as the price of BTC itself. We've seen many many Crypto scandals and collapses over the years, I'm not sure Microstrategy is going to be the one to buck that trend. The stock's value literally only makes sense as BTC rises. The second it starts falling it should logically collapse to the price of it's Bitcoin holdings. But as long as they keep buying large amounts of BTC, it pushes the price higher. This is...circular...

I'm sure people are making lots of money on it though.

[dino7c]

Originally Posted by topfiverecords

Are we re-titling this thread dino's BTC Buy thread yet, since anytime anyone posts anything he thinks this thread is about him and must post immediately in response. So vain. Probably thinks there's a song about him too.

Ironically the song is in fact about the person....like how you talk about me constantly

People bring me up and I respond. I have been transparent about my crypto buys and they are up over 9000%. I just might have some relevant information if you get over yourself.

[topfiverecords]

Originally Posted by dino7c

Ironically the song is in fact about the person....like how you talk about me constantly

People bring me up and I respond. I have been transparent about my crypto buys and they are up over 9000%. I just might have some relevant information if you get over yourself.

Relax, you love the attention and I keep giving it to you because it's hilariously entertaining.

[dino7c]

Originally Posted by Fuzz

Microstrategy is like a matryoshka doll. They buy bitcoin by selling bonds, which are debt. They make money on the difference, which is fine if BTC keeps going up, but a big plunge could really destroy them. The fact that their share price is almost 4x higher than the price of BTC is almost as confusing as the price of BTC itself. We've seen many many Crypto scandals and collapses over the years, I'm not sure Microstrategy is going to be the one to buck that trend. The stock's value literally only makes sense as BTC rises. The second it starts falling it should logically collapse to the price of it's Bitcoin holdings. But as long as they keep buying large amounts of BTC, it pushes the price higher. This is...circular...

I'm sure people are making lots of money on it though.

Do you think the price of BTC is higher or lower in 5 years? Yes or no?

I mean there was a time you thought zero was innevitable within a smaller timeframe. Surely you have changed your mind somewhat.

[topfiverecords]

Originally Posted by dino7c

Do you think the price of BTC is higher or lower in 5 years? Yes or no?

I mean there was a time you thought zero was innevitable within a smaller timeframe. Surely you have changed your mind somewhat.

You're so fixated on predictions.