Topic: how in the world is btc at $12.303,28? - page 3. (Read 560 times)

Truth is you don’t know what you’re talking about. I personally use bitcoin all the time to pay for things. Also, technically bitcoin isn’t an investment, it’s a currency.  If Ethereum was so great it would be more popular.

@ spy100

you are wrong on many levels. Here are some reasons why I think you are wrong.
 A) there is not much of these laying around
 B) if the FUD of the 2020 USA election increases both the left and the right that have money will want coins in case the other side wins the election.
 C) BTC asic mining has the ability to turn power into wealth  this means anyone with cheap power can become wealthy with btc.

Here is an example for letter c I know of a home for sale in NJ it has 10 acres and a rentable fixed up home. The rent would carry the sale price of 320k along with the taxes.

price is 320k

It has solar  and it has a 300 foot long chicken coop that could hold 200kwatt in solar panels. the power company does not let you hook that up to the grid unless you have a demand. Enter mining you spend some money on used asics to mine btc. Power company sees the demand lets you build the solar array.

BTC asic gear created this opportunity it is a real legit business plan that would work for the right investor.

D) world wide governments are printing a lot of money due to covid. Only 21million btc is going to be printed so it is rare.

E) Many commercial freezers in the USA are shut down due to covid shutdowns. Many warehouses prepaid 1,2,3 years of power to run those freezers. They rented them to restaurants meat suppliers etc.  So you now have a lot of prepaid power contracts. Here comes asic mining to the rescue. Since BTC is the easiest coin to exchange and has a ton of shutdown asic gear. It Naturally is used as first choice.

F) BTC is small. $225,743,585,119.00 this is not a lot of money. It comes to under 800 a USA citizen 333million x 800 = 266,400,000,000

The USA government gave away 400,000,000,000 incentive money and more then 500,000,000,000 in extra unemployment this year due to covid

that is over 900 billion compared to 225 billion.  
what does this mean a lot of wealth can be transferred to BTC and it is happening due to Covid fears and USA 2020 election fears.
people consider it to be more secure then eth  as eth is centrally run by 1 guy.

While I mention the USA giving away 900+ billion many other countries are doing the same thing. Many people fear fiat or cash may drop its value world wide.
So flight to BTC is happening.

Well, it's probably you / your goods or services. There are plenty of people spending BTC on plenty of things.
Our sales have been staying at the same % of crypto vs fiat through the last 20 months.

Much like any other thing, if it's not for you that's fine. But to say it's not worth it from a "technical point" just shows ignorance of what technical point means.
If I have 1BTC and someone is willing to give me something that they feel is worth $12,300 for it then to them it's worth $12,300 nothing else matters.

If I feel I am better off keeping the 1BTC because I feel it will be worth more later then nothing else matters.

Once large numbers of people feel that way with something then that's how much that thing is worth.

Same with gold. Same with anything.

-Dave

^ The fact that you say, "Nobody is using their btc to buy goods/services" makes it "The Fact" that you are not checking the goods and services section?
Are you aware that most of the trusted campaign managers are paid via BTC with the service they offer?
Nevertheless, if you want to have clients make sure that your marketing skills are enough to attract sure clients and for record hoarding is the best skill eventually.

And it also reminds us of many negative people back then, even since the beginning of bitcoin, and yet they really missed the boat while others become millionaires by 2017. I know one personally, just spoke to him a couple of days ago in facebook. Now he envy his office mates who became millionaires now, Lol.

So this cycle will continue, and when we hits another ATH, we will see what they are going to say then. There are a lot of used for bitcoin, specially in third world countries or those who are under a oppressive regime.

First, it was jobs and then different negative threads.
Yeah, I have seen your threads and all I can see is a pessimistic view of everything.
Dude, not everything revolves just for you.

There are so many ways the price of bitcoin could be pumped. In fact, we cannot even pinpoint where it is coming from. Right?
Ethereum? Yeah, I support that project too and in fact, I use it more because of the cheap tx fee.
But, I won't even know the existence of Ethereum without Bitcoin. Have you ever wondered if others walk the same path I did? I bet there are many of them.

Bitcoin is actually being used as a payment for commodities and services in the Philippines (I personally use it). There's also a case of DeFi having a lot of attentions due to the fact that it is helping a lot of people cope with the pandemic. Also, the hype of ETH 2.0 probably helped pump Bitcoin to this price. Not only that, a lot of pro-Bitcoin countries are regulating Bitcoin, for example this and this.

you offering your service as what we see on your sig ? did you accept clients but they dont use thier btc ? or you mean you dont recieve clients at all  . they arent the same  . dont you know that i do use my btc , not only me but my friends as well .  you wont tell that if people use thier btc or not just by basing on your orders  .

btc is still a currency and that wont change no matter what people do with thier btc .

Is you booze business going to suffer because the price of bitcoin is rising  .
Wait for the blood bath calculation, if you are long as the accounts says these things are not surprising
The citation is given below from your other thread .



Who cares if people are hording and there is no order in your bucket shop. The market will move higher as long as there is demand and people are investing in it.
 
No one is forcing anyone to stay and invest in bitcoin. Your account is from 2014 and it looks like you have not seen these things in the past or were you in a comma during that time .

I have a feeling that the liquidity is much lower than what everyone is expecting. Else why should the prices rise every time after the block reward halving? It looks to me that a scarcity in the demand has been created in the market, as a result of less coins being freshly mined. And this in turn is disrupting the demand-supply equilibrium, and thereby pushing the prices upward.

Technically there's nothing happened is an untrue statement. Do you know how much USD was added in US economy? I think you do. This has certainly affect on BTC price and other commodities price, do not you think that? I think that is the most appropriate reason behind the pump. However, this can be a manipulation too.

Just like what others say,

History repeats itself. What we are experiencing right now is what also happened before. Though, the price is not the same, but how it moves in the market is really the same. If this really continues to become the same as what we have experienced before, then the new ath will really come.

Yeah there is still so much room for bitcoins to rise. And the March drop in prices was because of the worldwide pandemic, no one knew what was going to happen. A classic panic sell - which is not justified. One day it seems the world is about to end and once the government reassures everyone with the printing press, people relax again. It feels like the OP is a little mad the prices keep going up. Maybe he sold all his holdings in March and was hoping for the price to drop further. I would not worry so much about the prices every day. Long term outlook for bitcoins is upwards. Better to hold than sell in my opinion.

You did not give us a stat to back up your claim I just paid my hosting subscription on name cheap using Bitcoin and if there are no services or products bought using Bitcoin or other Cryptocurrencies then companies will stop using Cryptocurrencies in fact it's the other way around companies are adding Cryptocurrencies as one of their mode of payment.

Reminds me of the spike we had in 2016, immediately after the block reward halving. This time also, the spike has started a few months after the block reward halving event. And if the same trend continues, then by the end of 2021, we have a new ATH. To remind everyone, the prices increased from $200 per coin to around $900 per coin in 2016, and the next year it further went up from $900 to $20,000.

I'm glad to see some anti bitcoin since I've been seeing a lot of posters bullish on bitcoin so far.
This make my day, $1 usd to $2 usd, are you kidding?

I understand that we can't control the price as it's very much unpredictable, but at least be realistic with your price, we are not in the early stage amigo.

And to ring your bell, bitcoin's ATH was almost $20,000 so $12k is not a surprised.

LOL

No comment.

This is wrong in so many levels. Because for starters.. Many actually do. I did like a month ago, although true that's a rare occasion as I mostly hold. But trust me, btc is used for goods/services everyday. 

Also, I can similarly say "nobody is using gold to buy goods/services " so why is it worth so much?

dude from technical point bitcoin is a shit coin ... there are others better ... the blockchain sucks as it grows in time ,transactions takes a long time to confirm , it's hard to mine and people don't even consider it a currency anymore they think it's a investment ( and they don't know shit about investments ...what they do is called speculation ) .

"An investment operation is one which, upon thorough analysis, promises safety of principal and an adequate return. Operations not meeting these requirements are speculative." --- Benjamin Graham

I am out of btc economics area as you guys don't know the diff between speculation and investment....

Really I wonder why this question is asked.
There was a halving event around May that happened.
At that time we didn't see such an impact on the Bitcoin price it was pretty much stable. Now it is normal that the price is increasing considering the fact that BTC is more rare now.