I can't believe from this point on the Bitcoin will just keep rising and rising till 100K levels (even if it may take years).
Surely, a crash (back to 1000 USD/coin) is bound to happen, right? Historically, looking back at what BTC has done over the past years it would very much make sense aswell.
Why in the world would Bitcoin keep rising without a halt?
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Look into whats happening in the fiat world, look closely.
In time you will understand, one way or another.
Ask yourself a simple question, what do you trust more, world governments or a transparent system based on math?
The driving factor behind bitcoins rise is less and less people trusting governments with the Greek national bank causing the first rise to $1k.
Any good graphs/articles that explain what is happening?
i've never trusted world governments yet they still win
>the Bitcoin
Seems like there is a lot of buy support at 2800-3000
Historically people get Goxed and then get frightened which is why relying on TA and charts is retarded. Every single time there was a real crash it was kicked off by Gox.
Government power is a self-fulfilling prophecy, people believe they are powerful and that makes it so. Now peoples faith in government is at a low not seen since before ww1 and it's destabilizing global economies leading to the rise of crypto as a store of wealth.
that's a good point; however bitcoin is totally controlled by news.
Like all commodities
youtube.com
Watch this. Its a very insightful vid on Economics by Ray Dalio. It takes 45 Minutes, but is time well worth spending. If you want, look up video's by him - interview's and whatnot.
He is the CEO of one of the most successful hedge funds in the world, so he knows his shit.
It would be an interesting thought experiment - thinking what could potentially happen to Bitcoin during a deflation, I personally still think it would be good for Bitcoin, but i might be wrong here - since one could make the argument that bitcoin is an asset class.
Government power is not a 'self-fulfilling prophecy',
Government power is the monopoly of force and taxation, coded by the people. In contrast to a state of anarchy.
see those printing press reving up
all those banks issuing debt instruments
currency wars
cost of living exponential, but lowest inflation ever?
how can btc not hit 1M
>world governments or a transparent system based on math?
I'd rather say world governments or whales and mining cartels..
>world governments
you mean world banking cartels.
Bitcoins market cap is at 66 billion dollars. Compare that to the derivatives market which today is estimated to be valued at 1.2 quadrillion. There is no reason why BTC growth should slow down anytime soon
>coded by people
So it is a self fulfilling prophecy.
didthesystemcollapse dot com
>charting bitcoin linearly
are you 12
Upcoming econmic downtur, we've been at a peak for a year now and the only place to go is down.
Of course Bitcoin will return to the norm after the econcomy recovers, but for awhile Bitcoin is going to be a global currency.
...
Great video.
That force is applied by the people, when they refuse to apply it you get a situation like the Arab Spring where the military had no interest in defending the government and so the government lost all power.
7 years ago whales were those that mined early, 4 years ago whales where those that brought cheap, today whales are a mix of those that spent 2k years ago and those that spend 20m yesterday. The state of whales is ever changing as crypto gets taken seriously.
Is bitcoin a meme or am im dumb as fuck?
I have like 50$ of coins in my wallet.
Today i was gonna pay for my VPS (7$) with bitcoins, but the fucking transaction fee is 4 fucking dollars... what the fuck?
I pay 4$ on a 7$ transaction? Fuck this shit.
the market is not rational. just because there's more physical cash (debt) doesn't necessarily mean inflation must rise accordingly; perhaps people simply still can;t afford more and businesses would lose money by raising prices on commodities. i still agree bitcoin will go up towards 1 mil though in the next couple decades.
BTC isn't a currency despite being called one, it's a store of wealth. The only crypto I know about that is viable as a currency right now is tether because it's tied to USD.
tl;dr
retard. btc is now an equity similar to real estate or land. don't ever spend it fgt
great watch
your wallet is fucking you.
the fee is between $0.03 and $0.50 if you aren't using a shit fucking wallet
we're going to 100k and over, but sure there will be some bumps along the ride. However, once we get to 11k... it's gonna go very fast.
Why do you think 11k will be a tipping point?
I also get that supply and demand are relevant in this case. The supply is decreasing, demand is rising.
BUT - the same occured at 2013, Bitcoin went 10x and went back to 100 euros from 1000.
It's still the same bitcoin. Why did it crash then, but will it not crash now?
>Why did it rise then
It was massively inflated by Greeks hiding their money as bank accounts were being locked down.
>Why did it crash then
People still weren't sure if crypto was here to stay or a passing phase so once Grease settled down there was little demand.
The biggest difference today is BTC has survived those kind of crashes and maintained amazing long term gains, so much so investment firms are taking it seriously.
>Of course Bitcoin will return to the norm after the econcomy recovers
This is not how it works you dumb cuck. There will always be a reason to own BTC, a lot of it, when cuckerments are ploting against you with their closed source currencies.
It seems likely it will increase in buying power as compared to fiat, much like a stack of gold bullion has increased in buying power, as liberal monetary policy and financialization has fleeced everyone except for a small global elite.
What I'm afraid of is that btc could create it's own novel inefficiencies and instability
>scaling problem (transaction throughput and block size)
>lost coins (lost passwords, people dying without arranging for inheritance).
>forks and chaos resulting from schisms in the bitcoin foundation
I imagine that, if btc were to become a reserve currency, most people would not interact with their own wallets. Actual btc would mainly be used in bank to bank or institutional transactions.
>100k levels
Not him, but IMO, the only way that happens is if major national currencies become worthless, which could create a cascade effect. Basically global financial meltdown, where people start trading anything of value for btc, in the hopes of having a fungible asset once things cool down.
Like gold, it only becomes more valuable as other assets and commodities tank--because gold doesn't change, and people will always want it. People with gold bullion aren't waiting for the day they can turn their gold into valuable jewelry, or to sell it for a pile of greenbacks. It's just a token of value with a long historical precedent.
10k+ is a psychological barrier that might make people think "wow that's where I should store my money".
Might be good for hodlers, but really terrible for everyone else. Probably not even good for the hodlers if the economy crashes too hard.
When will you people stop looking at the price of each individual coin, and just look at the fucking market cap?? Current bitcoin market cap is about 70 billion, that's less than 10% of the market cap of apple.
To be more precise, I should have said "That's where I should store my ".
I learned to work hard and save my money... but that pile of money in my bank account seems to buy less every year. Investing in traditional stocks and whatnot is, at best, leaving me in the same place--at worst, I'm the bag holder for a civilization threatening credit bubble.
If inflation and cost of living were perfectly balanced, they would negate one another. They're not. So who's skimming off the top?