Topic: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion - page 5671. (Read 26608642 times)

Oh poor lil Richy_T.....  trying to stay on topic (like a good bitcoin maximalist.. #nohomo), but everyone else causing his lil selfie to have to respond.  


One of the good things about bitcoin is that it gives no shits about either use case number 1 or use case number 2, and each of us can choose whichever use case that we want, including use case number 3 or even the use case of NOT using it.  It does appear that a large number of us believe that use case number 1 is driving a lot of bitcoin's current value, but many of us also appreciate that bitcoin can already be used for a variety of other use cases, even if some of those other use cases are more limited in their availabilities or user-friendliness.. but bitcoin has capacities beyond use case number 1 and 2.


Sure, it could take another 10 to 30 years for BTC to reach $100 trillion.. which is a mere 100x from here.. or $5.5 million per coin... but it does seem that you are outlining this in a bit too much of a bearish way because the more bullish scenarios could actually quite easily reach $5.5 million per coin within 2 cycles.  I don't need to elaborate on the numbers, do I?

This cycle could top anywhere between $62k and $1.5million.. and let's just look at the more bearish of numbers (that's 2021)

The next cycle could then top $200k to $500k (remember bearish numbers).. (that's 2025)

The next cycle could then top $1 million to $5.5million (remember bearish numbers).. (that's 2029)

Are we going to need another cycle if the numbers are even more bearish than I have outlined? or could it take another 5 cycles as seem to be suggesting could be the case..

yeah.. I don't really expect to make it to 2050.. but sure there could be a chance.. as with anything.  In recent years, I did have a doctor tell me that I could make it to 2060-ish (not in those words, exactly), and my health has not really deteriorated since such statement but still taking such optimism with a decently large grain of salt.... I am a bit skeptical of experts - even though it did make me feel good at such time the statement was made.

We all hate shitcoins. I do too.

But, maybe, just maybe, shitcoins are a blessing in disguise. They do seem to help in a few things:

-- Sort out the opportunists from the serious investors.
-- Sort out the thick in the head from the smart.
-- Stress-test (and confirm) Bitcoin's unprecedented robustness and fault tolerance.
-- Weed out cancer cells, such as Craig Wright, Calvin Ayre, Roger Ver, and Jihan Wu.
-- Suck wealth out of "get rich quick" traders, just like maggots eat rotten flesh.

I often get angry when I see posts shilling shitcoins. But I shouldn't. To all shitcoin shills, I say: "Bring it on! Give it all you've got! Attack Bitcoin as fiercely as you can! Let the strongest survive!" After all, that's how the universe works. From the wild animals of the jungle, to the highest level of refined civilization. Survival of the fittest. So, bring it on, and let the winner take all.

There's something pure and original about ABBA. They remind me of my carefree days of youth, when we never locked our homes and knew everyone in the neighbourhood.

The winner takes it all.

https://www.youtube.com/watch?v=92cwKCU8Z5c

To me the data is very relevant. It shows that altcoins easily get replaced with other alts and no one really believes in the true value of them (except for a very few perhaps) even when the crypto marketcap has tripled in value.
Picking successful alts out of a choice of 7000+ is like a lottery.
I'd rather stick with BTC.

Fun fact, ABBA got famous by winning the Eurovision song contest in 1974 in Brighton, I watched it with some friends at a friends place in Rosengård (now a no go zone) and then biked home in the middle of the night, I was 14 and it was totally safe.
The song is called Waterloo, enjoy https://www.youtube.com/watch?v=Vp1_OKawHYw

This data is really not relevant, picking a random date to buy and a random date to sell will give you a random PNL. What if that was invested a year or two years before, what if those prices were updated during spring 2018 when many altcoins boomed, what if we wait some more months or years. I mean nobody really knows and I don't see how you can get anything of substance from that data. If anything it looks like the bull market is not ending anytime soon so not sure why picking a date around now to sell would be any good.

Yes I agree that the next bear market could produce many poors and many riches as did the last one and the one before it, but not necessarily because one chose Bitcoin over whatever altcoins or vice versa.

This shows just how shit the altcoin performance is.

Someone spread $1000 over top 10 cryptos and held for 39 months:



Without BTC he would be down to $843 despite the bull runs (from $900 invested).
If he had invested his $1000 in only BTC he would be up to $4560.

People just don't get it. Maybe 1 in 50 in the comments on reddit see what's happening. Unbelievable.

I predict there will be millions of poor people after the next bear market and upswing considering what's going on with altcoins right now.

But of course also millions of rich BTC holders and probably already some trillionaires.

https://twitter.com/jchatterleyCNN/status/1379822551564759040

"When we get a risk-off moment, we could be seeing $BTC pullback to $20-30k. But I think for long-term investors, that will be a great entry point."

https://twitter.com/jchatterleyCNN/status/1379822551564759040

"When we get a risk-off moment, we could be seeing $BTC pullback to $20-30k. But I think for long-term investors, that will be a great entry point."

....I was stunned by the length of your post