BLNR or Bitcoin?

[EEpro]

Originally Posted by Chester01

People have been squawking about inflation for some time and people have been crying doomsday since we left the gold standard. I mean, printing money like mad only becomes an issue when one cannot pay the debt (or others perceive them as not being able to pay) and the wild inflation predicted for the past god knows how many years has not materialized.

Have you compared the prices of food and housing since then? How about the price of gold and silver since then? The Dow? There's inflation it is just buried by the carefully selected moving goalposts they choose to measure it with.

[Chester01]

Originally Posted by SPMN

You’re right. Most of the world will never be able to afford an entire Bitcoin. It’s probably a good idea to buy one now while it’s still cheap. :)

Bitcoin can be divided to 8 or 9 places. The smallest unit is called a Satoshi and $1 today will buy you about 3200 of them. Plenty of room for the currency to grow and still be useful for buying a cup of coffee.


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Lol, if it wants to be an accepted currency things will have to change, 3200 is a lot considering what over 2/3 of Americans would not be able to pay for a $500 repair. Unless things change with Bitcoin it will simply remain an interesting “asset” to be traded as stocks, simply inaccessible to most.


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[Chester01]

Originally Posted by EEpro

Have you compared the prices of food and housing since then? How about the price of gold and silver since then? The Dow? There's inflation it is just buried by the carefully selected moving goalposts they choose to measure it with.

Housing has gone up, but economics 101 would highlight that as interest rates come down, prices go up. So it’s not likely that has much to do with the budget deficits that are currently being run up.

The inflation rate has been measured and tracked for many years. I’m not looking at that data now but it’s been resting at what 2-3%. I agree they do selectively measure inflation, and things (feel) like they are getting more expensive (certainly Rolex is not getting cheaper lol) but much has to do with the ridiculously low interest rates as well.


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[SPMN]

Originally Posted by Chester01

Lol, if it wants to be an accepted currency things will have to change, 3200 is a lot considering what over 2/3 of Americans would not be able to pay for a $500 repair. Unless things change with Bitcoin it will simply remain an interesting “asset” to be traded as stocks, simply inaccessible to most.


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I think you misunderstood. A single dollar will buy 3200 satoshis. In other words a satoshi is only worth $.00032. It is accessible to anyone with an internet connection.


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[SPMN]

Originally Posted by Chester01

Now the issue of currency being devalued via printing of money, is an interesting issue. People have been squawking about inflation for some time and people have been crying doomsday since we left the gold standard. I mean, printing money like mad only becomes an issue when one cannot pay the debt (or others perceive them as not being able to pay) and the wild inflation predicted for the past god knows how many years has not materialized.

We've never seen 2020 levels of printing, and it doesn't seem like the new administration is going to take its foot off the gas anytime soon. Look at the chart below. The Fed printed very conservatively from 1975 until the '08 financial crisis. It then rose sharply, but steadily until 2020 when it just sky-rocketed. Imagine what this will look like next year after the next round(s?) of stimulus.

And again, I'm not saying that it's wrong to print. What would the alternative have been last year? But we are going to be dealing with the repercussions of that for a long time.

[huncho]

Originally Posted by Chester01

Lol, if it wants to be an accepted currency things will have to change, 3200 is a lot considering what over 2/3 of Americans would not be able to pay for a $500 repair. Unless things change with Bitcoin it will simply remain an interesting “asset” to be traded as stocks, simply inaccessible to most.


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not $3200, you can buy $1 worth of bitcoin. coinbase actually has a minimum of $1.99 because it includes fees, but there are other places to buy as well. you can buy any amount of it you want

[dimag333]

Originally Posted by huncho

gone forever if he doesn't access it

Wow

steve

[Chester01]

Originally Posted by SPMN

We've never seen 2020 levels of printing, and it doesn't seem like the new administration is going to take its foot off the gas anytime soon. Look at the chart below. The Fed printed very conservatively from 1975 until the '08 financial crisis. It then rose sharply, but steadily until 2020 when it just sky-rocketed. Imagine what this will look like next year after the next round(s?) of stimulus.

And again, I'm not saying that it's wrong to print. What would the alternative have been last year? But we are going to be dealing with the repercussions of that for a long time.

These are concerning data points to be sure. But good old fashion belt tightening can be done and debt can be paid down and has been paid down in the past. Yes there will be stimulus for covid here and in every other country, and covid will fade out. I mean money will be made in Bitcoin but belt tightening will happen eventually. Some of what’s happening is the economic equivalent of doomsday preppers. People been crying doomsday since the dawn of time and it’s really just projected fear. Society will go one, but each and everyone us will not.


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[Etschell]

Originally Posted by Chester01

These are concerning data points to be sure. But good old fashion belt tightening can be done and debt can be paid down and has been paid down in the past. Yes there will be stimulus for covid here and in every other country, and covid will fade out. I mean money will be made in Bitcoin but belt tightening will happen eventually. Some of what’s happening is the economic equivalent of doomsday preppers. People been crying doomsday since the dawn of time and it’s really just projected fear. Society will go one, but each and everyone us will not.


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"Money isn't real George, you just think it is." - Ray Liotta, Blow.

[Screwly]

Originally Posted by Etschell

"Money isn't real George, you just think it is." - Ray Liotta, Blow.

Great movie

[Chester01]

Originally Posted by Etschell

"Money isn't real George, you just think it is." - Ray Liotta, Blow.

It’s actually an interesting concept isn’t it. It’s just that we all agree on a worth, and it’s the perception and confidence in a currency that makes it worth anything.


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[Mifune]

currency is NOT money... first wrong answer.

[greeneyedguy]

At the beginning of this thread btc was at 8000. You could have easily invested and by now had the blnr for free!

[EEpro]

Originally Posted by greeneyedguy

At the beginning of this thread btc was at 8000. You could have easily invested and by now had the blnr for free!

You could have had a white Daytona for the price of a 114060

[greeneyedguy]

Originally Posted by EEpro

You could have had a white Daytona for the price of a 114060

Cash is dead! If your not moving it your losing it!

[tom2]

Originally Posted by greeneyedguy

At the beginning of this thread btc was at 8000. You could have easily invested and by now had the blnr for free!

I would have easily chosen BLNR then, but not anymore.

[Etschell]

retrospect is always easy.

gamestop, a dead company, went 20x in 6 months.

[Doc Savage]

Originally Posted by Etschell

retrospect is always easy.

gamestop, a dead company, went 20x in 6 months.

Friday's reddit pump and subsequent short sqeeze was quite a ride.

[Etschell]

Originally Posted by Doc Savage

Friday's reddit pump and subsequent short sqeeze was quite a ride.

same thing happened with kbio and WV.

parabolic moves usually eat it over time on bad stocks. andrew left just made a mistake. you dont short a highly shorted stock because you cant buy back the shares. he got greedy and let emotion take over.

[Doc Savage]

Originally Posted by Etschell

same thing happened with kbio and WV.

parabolic moves usually eat it over time on bad stocks. andrew left just made a mistake. you dont short a highly shorted stock because you cant buy back the shares. he got greedy and let emotion take over.

Exactly.

The worst thing that can happen to a trader is to get lucky early on with a big move based on a guess or an emotional trade. It sets them up for a much bigger loss in something like Friday's play.

[SPMN]

Originally Posted by Doc Savage

Friday's reddit pump and subsequent short sqeeze was quite a ride.

Originally Posted by Etschell

same thing happened with kbio and WV.

parabolic moves usually eat it over time on bad stocks. andrew left just made a mistake. you dont short a highly shorted stock because you cant buy back the shares. he got greedy and let emotion take over.

It'll be fascinating watching what happens to Gamestop tomorrow. The posts over on WSB are hilarious, and I really think some of those people are willing to bankrupt themselves for the memes. There's also 2 million of them on that sub, and I think they're going to cause it to briefly hit $90/share tomorrow. I'm not touching that with a 10-foot pole, but I'll certainly be watching.

[Kliminator]

Originally Posted by SPMN

It'll be fascinating watching what happens to Gamestop tomorrow. The posts over on WSB are hilarious, and I really think some of those people are willing to bankrupt themselves for the memes. There's also 2 million of them on that sub, and I think they're going to cause it to briefly hit $90/share tomorrow. I'm not touching that with a 10-foot pole, but I'll certainly be watching.

WSB is terrifying and fascinating to follow at the same time

[Etschell]

MARA bought 150 million at 31,600 a coin. but yes it is going to $0 right?

[huncho]

Originally Posted by Etschell

MARA bought 150 million at 31,600 a coin. but yes it is going to $0 right?

it's huge that there are big buyers at these prices. i'm just patiently waiting for the next run now after those 2 big dips and the consolidation. next one's gonna be a ride i feel

[Etschell]

Originally Posted by huncho

it's huge that there are big buyers at these prices. i'm just patiently waiting for the next run now after those 2 big dips and the consolidation. next one's gonna be a ride i feel

glad i own ethereum as well. never put all eggs in 1 basket of an asset class.

[Doc Savage]

Originally Posted by Etschell

glad i own ethereum as well. never put all eggs in 1 basket of an asset class.

Same here.

[Etschell]

and here we go.

[huncho]

Originally Posted by Etschell

and here we go.

feel like this whole gme manipulation might have caused some movement

[Etschell]

Originally Posted by huncho

feel like this whole gme manipulation might have caused some movement

Its testing a breakout level. Michael saylor is having a huge blowout next week.

But there is a huge options expire friday as well.

[huncho]

Originally Posted by Etschell

Its testing a breakout level. Michael saylor is having a huge blowout next week.

But there is a huge options expire friday as well.

are you referring to their conference to teach companies about investing in bitcoin or something else?