Clearly when near an all time high, nearly everyone with bitcoin will be in profit.
Yes, someone is buying at these prices so someone else is paying for that profit.
What's new there? That's a fact but you have to say, anyone buying at this level is taking a big punt so you couldn't really have any sympathy. Likewise people not selling at current level are taking the gamble forward so really no sympathy for anyone either buying or holding if they get burned from this point.
I include myself in that - holding a small amount of bitcoin that has doubled in value but hoping for more.
Wormhole airdrop coming, you can check if you qualify on phantom using the link there.
..
Yes, everyone holding BTC is in "profit", but with someone else's money. All that money comes from somewhere, your friend, your grandmother, your brother. And yes "institutional money" is someone else's money before that's thrown in.
It's a mechanism that shifts our wealth between each other, whilst producing nothing (it actually consumes). Other speculative markets do the same, but they usually produce something.
BTC is used extensively for ransomware, then sent through tumblers.
Tesla stopped using BTC because of an outcry from investors (mainly over the hypocrisy of using a climate unfriendly asset for a supposedly climate friendly electric vehicle) although there's suspicions Musk also had other motives.
Steam dropped BTC because it was too volatile and too hard to process returns. It's not just BTC, studies have shown that crypto as a whole is only used for less than 2% of payments.
Indeed it's mainly used as a "store of value", albeit a highly speculative one. Like penny stocks.
You pay an insurance levy on every car, home, & health insurance policy you take out.
You are paying the banking levy on every transaction you make.
Your pay check is smaller because the government added the USC to cover the bank bail out.
Your wages are worth less because governments keep printing money to reduce its value and transfer your wealth to the elite.
We all pay for this thanks to the super effective well regulated monitory system you are a big fan of.
Bitcoin hasn't cost you a cent. And everyone with bitcoin is in profit.
" I agree that EV's are probably more detrimental to the environment from cradle to grave than a modern ICE"
They're not though. Battery extraction is horrific but the detractors always, "conveniently", omit the iron/aluminium of the engine block, the environmental impact of oil extraction/transportation/refinement, and the hundreds of oil spills.
Electricity generation is also far far more efficient (no matter the power plant fuel) than ICE, producing less pollution per tonne of fuel.
All this just to point out that the poster is spouting crap in every angle to attempt to bring everyone down.
All I know is that I'm up, a lot, for the first time in years and never risked more than disposable cash
Agreed. It smells like jealousy anyway.
I have no problem discussing these matters but can we make a separate thread for it please? We are away off topic.
None of your business how much crypto I own. 😆
I didn't say Musk was an environmentalist (he's not). I agree that EV's are probably more detrimental to the environment from cradle to grave than a modern ICE (internal combustion engine) vehicle but that's another matter. I'm not sure what your point is in regards to "ethical hackers". Warren Buffet is 107 years old and he's very much in the old school of investing. He also missed out on all the technology stocks such as Apple, Tesla etc. Investing in stuff such as Coca Cola, Kelloggs etc is more his niche....
You appear to be completely clueless on this subject matter or perhaps you're merely an attention-seeking troll. BTC is not "the currency of the dark web". Privacy coins such as M0nero, Pirate Chain, ZCash etc are much more commonly used there. Everything on the BTC blockchain is highly visible and immutable so it would be extremely foolish to use it for criminal activities (although it certainly had a reputation for this in its early days). Tesla stopped accepting BTC due to pressure from the "environmentalists" and the climate cult and not because of its volatility. And it's more a store of value (similar to gold) than a means of exchange or a peer to peer currency nowadays.
True, but it's been slippery to regulate and just seems to have too many heads for regulators to be able to do anything drastic (so far)
People are never going to tire of going to casino's to gamble, and apparently people don't seem to be tiring of doing the same with crypto tokens/coins.
The mantra in crypto is always "don't put in more than you can afford to lose", it encapsulates the ethos of the thing - placing the burden of risk on ourselves rather than entities. Lost everything to a hack or exchange collapse? Tough luck, your fault for not taking care of your coins properly. Obviously can't run a national financial system on that ethos, but, as mentioned crypto is a casino cosplaying as a financial system.
As for losses, the more experienced crypto people I suspect haven't lost much, likewise I'd say most of these boards people are green (some very well green). Unfortunately that usually falls to the waves of the public who FOMO in during the peak of a frenzied hype or get caught in crashes/scams/collapses - and are then reliant on a newer wave paying more than they did in order to sell their bags.
People like the make money, including some politicians.
Whether it's Bitcoin, or Bitcoin cash, or Bitcoin SV, or Bitcoin ABC turned into Ecash, or Dogecoin, or whatever, it's all the same thing and (apart from the fundamentalists) it's just about making money at the end of the day. Which anyone, including certain politicians, are more than happy with.
It's investing people's desire to own something scarce, "the next big thing" and their unfailing ability to fall for hype and FOMO, which crypto delivers in spades (and not much else)
Russia has been financing it's war on Ukraine by selling off some of the gold reserves it accumulated over several years prior to invading. Putin clearly had this planned years prior.
Russia turns to Gold to raise cash and skirt economic sanctions
..but bitcoin.
A couple of US states, like Colorado, will let you pay your taxes with BTC.
Last week the governor of Florida announced plans to become the second state to accept Bitcoin (BTC 4.13%) (BTC 4.13%) as payment for state taxes. About a month ago, Colorado's Governor Polis made a similar announcement, in hopes of making the state more crypto-friendly.
Years prior to thes two:
Ohio has become the first U.S. state to allow taxes to be paid in bitcoin, starting with businesses.
By Yogita Khatri Nov 26, 2018
Seven US legislators have or had BTC holdings:
According to “Bitcoin Politicians” — a crowdsourced data project aimed at tracking U.S. political figures’ crypto holdings using public financial disclosures — there are currently seven known crypto investors across both chambers of Congress.
https://cointelegraph.com/news/early-birds-u-s-legislators-invested-in-crypto-and-their-digital-asset-politics
And back in the day, at least one US State government invested state funds in BTC. I can't off-hand remember exactly which one but the governor was a woman who was very chuffed with the success of her investment on behalf of her state.
US states are not drug dealers, paedophiles or arms dealers.
My BTC investment has easily been the best performing investment I have made.
The "everything is green 24 hours after a sharp dip" effect in action and triggering it's own gains.
It's garbage, but the money made from it is real. Maybe there will be global regulations one day, but so far, it's a wealth exchange on a plate. The patient taking cash from the impatient for artificially scarce digital tokens, mostly due to greater fool theory.
scrutinised financials...
amlintelligence.com/2024/01/latest-more-than-3trillion-in-illicit-funds-flowed-thru-global-financial-system-in-2023-banks-call-for-more-regulatory-guidance-to-tackle-endemic/
More than $3trillion in illicit funds flowed through global financial system in 2023; banks call for more regulatory guidance to tackle endemic
$346.7 billion in human trafficking
Fines for these breaches were about €352 I'd say.
Keep maxing out your pension avcs and enjoy shooting the breeze on the breadline! 😂
What's this talk of drug dealers, arms dealers and paedos got to do with this topic? I mean these "scum" use Fiat currencies on a daily basis. They might be using crypto to attempt to hide their illegal business but they definitely use the traditional monetary system to do so. The current rising tide is due to money flowing into the Etf's who do their kycs and it's mainly institutional money.
As to how much Bitcoin I own, does it matter? It's not my biggest crypto holding in any case as I think there are better options this cycle. If it all goes to **** then it will hurt but I still have a decent pension plan as well as stocks. Diversification is the key to minimising risk.
As to the price of Bitcoin in 12 months, I'm thinking that it will be well in excess of where it is now. In 18 months we'd normally be crashing back to earth but who knows, with the institutional money flowing in a huge crash is hard to see but what do I know, I can't see the future.
edit...
For everyone that makes life changing money there is going to be a bag holder. At least be honest about what you’re really buying and selling.
Pathetic. Imagine being so narcissistic to think your opinion is so valuable that you'd bother wasting your time navigating to a forum and thread about a topic just to let people interested in that topic know you don't like that topic. Get a life?
On top of making life changing money, one of the sweetest parts of crypto is getting to laugh at bitter people like this guy, and enjoy schadenfreude at the thought they've missed out and can't handle that so they displace their negative thoughts onto random strangers online who didn't lose out like them.
Yup, definitely in the beginning of a real run.
The anti cryptos are coming
Which crypto are you talking about? Or are you talking about crypto in general in which case I point to the current fiat world where much of your fears already exist. Controlled by the government, impoverishing the average joe to pay for elections and promises to the masses which are rarely delivered and controlled by the ultra rich.
Anything has value if someone is willing to pay for it and it has the value of what that person is willing to pay. Your opinion is your opinion and your welcome to it however the financial system is changing and you either accept it or lose out. That is my opinion and I guess we'll see who's right over the next few years.
AI tokens also with a sharp wick, Render and now Nosana. Crazy that my Nos bag has more than doubled in under a month.
NEAR gone to the moon!
Yea, a little reward given that I have now officially dropped what was to be a 10x
Anyways I still feel this will be the most interesting one of the alts I hold
Good timing
At around 9 or 10 this evening everything will temporarily "turn" green again, so will be curious to see what rebounds and by how much (excluding those that already green)
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