Bitcoin Cracks $5000
- Thread starter anaconda
- Start date
"The digital currencies that matter - Get ready for Fedcoin and the e-euro" - Economist mag
https://www.economist.com/leaders/2021/05/08/the-digital-currencies-that-matter
Well dang, that looks just like a picture of a...........naaaa couldn't be. Posters on this 37 page thread been sayin' 'nuh uh' for 4 years now. The "G" and All Seeing Eye is a nice touch, guys. No one will ever figure that out. Must be coincidence that bitcoin's highest price so far is 63333. When does it hit 66600 then crash?
https://www.economist.com/leaders/2021/05/08/the-digital-currencies-that-matter
Well dang, that looks just like a picture of a...........naaaa couldn't be. Posters on this 37 page thread been sayin' 'nuh uh' for 4 years now. The "G" and All Seeing Eye is a nice touch, guys. No one will ever figure that out. Must be coincidence that bitcoin's highest price so far is 63333. When does it hit 66600 then crash?
Last edited:
dannno
Member
- Joined
- Dec 19, 2007
- Messages
- 65,717
"The digital currencies that matter - Get ready for Fedcoin and the e-euro" - Economist mag
https://www.economist.com/leaders/2021/05/08/the-digital-currencies-that-matter
Well dang, that looks just like a picture of a...........naaaa couldn't be. Posters on this 37 page thread been sayin' 'nuh uh' for 4 years now. The "G" and All Seeing Eye is a nice touch, guys. No one will ever figure that out. Must be coincidence that bitcoin's highest price so far is 63333. When does it hit 66600 then crash?
I've always argued Fedcoin was inevitable. Bitcoin is a tool to avoid it and have alternatives.
Are we going for 38 pages of nuh uh?
Seeing reports tonight that Coinbase is locking up bitcoin trades "for your protection".......Gensler said the other day that the SEC is going to institute regulations to "protect the consumer". Seems Coinbase is already starting to protect the shit out of bitcoiners. (Pro tip: None of the exchanges have the actual dollar liquidity to back up the nominal crypto prices. But that's how it's always been in banker-land. Fractional reserve garbage that collapses when everyone runs for the exits because it's all smoke and mirrors. Maybe Coinbase has a little more since getting a Wall Street handout when it went public the other day but the rest of the exchanges have long since made off with your dollars and can't/won't actually cash you out in any large amounts. Ponzi scheme writ large.)
Elon appearing on SNL tonight too. Given that he's a front man for "deep state", I wouldn't be surprised if his appearance marks the end of this whole production and it's quickly downhill from here.
Last edited:
dannno
Member
- Joined
- Dec 19, 2007
- Messages
- 65,717
You're a weird dude.. why would coinbase have the cash liquidity to backup their bitcoin balances? That's like asking a gold vault to have the cash liquidity to backup their gold deposits... They have the GOLD. That's the whole point.
No idea what you are talking about with coinbase locking up bitcoin trades, but coinbase is just an exchange. It's not bitcoin. If you have large amounts of crypto, you shouldn't be keeping it all on exchanges.
In today's world that's called "thinking"...for that I plead guilty.
Gold is real and is money itself, therefore no cash liquidity is necessary. Neither bitcoin nor digital dollars on a ledger are real and are not money. Mighty big difference.
Just some reports I saw that coinbase was behaving strangely yesterday. I see robinhood crashed again when doge dumped too lol.
Maybe I'm missing a piece of info but in order to cash out bitcoin into digital dollars, don't you still need to go back onto an exchange to do that? The exchange needs to have dollar liquidity to send to you, right? If they don't then how is it any different than the rest of the fractional reserve ponzi junk, where claims on an asset far exceed availability of the asset?
dannno
Member
- Joined
- Dec 19, 2007
- Messages
- 65,717
Gold isn't any more "real money" or any more "real" than bitcoin as long as there is the network infrastructure to support it.. gold and bitcoin both have pro's and cons. One of the cons of bitcoin is that it requires network infrastructure. One of the pro's is that I can send you bitcoin if you are in another state or country without having worry about physical delivery. Imagine trying to send a few bars of gold to somebody in another country, safely and securely. It would be expensive and risky. With bitcoin, it is extremely cheap and secure to transfer. You can do it all day, instantaneously, back and forth. Bitcoin also has much greater security than gold. Somebody with a lot of guns can come and take your gold, but there are easy ways to prevent this with bitcoin. Otherwise, they are similar as there are limited amounts of gold, and limited amounts of bitcoin.
If people stopped buying gold - let's say somebody found a way to produce gold cheaply using aluminum. People would run to the gold shops and start trying to sell at the current prices, but nobody would be willing to buy and the liquidity would drop the same way as if people ran for the exit on bitcoin.
Like a stock, or like gold, the price is based on the last sale that occurred. That means at any price bitcoin is at, there are willing buyers and sellers. So when you cash out your bitcoin at an exchange, the willing buyers buy up the bitcoin and whatever the price they are willing to pay for it is, that is the current price of bitcoin.
I'm not trashing gold, gold is great. Bitcoin is great. They are both useful in ways that the other one isn't. People should own both.
Last edited:
Lookin' pretty prescient here. BTC was 58k that night of 5-8-21. Been downhill since. It's 29K tonight.
May 23rd marked the biblical harvest of first fruits of (your) labor, called Pentacost....must be coincidence, seeing how bitcoin isn't a banker invention, so I'm told.
I wonder if the harvest of second fruits takes place on a much larger scale in early fall? Naaa, that's crazy talk.
Last edited:
back to 38k
time to buy.
I don't know. I think that is just a double dip. I could be totally off but I see it going even lower with the pending EO. I predict the bottom this time is under 30.
Mordan
Member
- Joined
- Jan 21, 2008
- Messages
- 2,340
when the FBI busted the first Silk Road in September 2013... noobs panic sold saying Bitcoin was now useless.
then i shot from 100 usd to 1300..
That EO could be good for Bitcoin. It will be bad for shitcoins though that are securities.
Been watching patiently. Currently 23 still no bottom in sight.
I don't care about the who or why. My only concern is can it make me money.
At 19 now. I've read predictions the bottom will be 14 or as low as 11. If it recovers to previous levels, there is profit to be made.
GlennwaldSnowdenAssanged
Member
- Joined
- Oct 30, 2020
- Messages
- 4,149
For everything people say BTC is one thing I can say is that it is not stable.
Similar threads
