This has to be the worst advice I’ve heard . Exit to btc. Btc dies a quick -70%
I’m exiting to stable coins and will collect 9% on usdc
I can go anywhere in the world today, offer gold for a product, and people will be ready to barter for it.
Unlike shit coins and all other fiat (Bitcoin is fiat too), the value of Gold is intrinsic and exists outside of human will. There is not a person on planet earth who does not understand the value of gold, no matter their race, religion, or IQ.
The fact that 99% of people will be willing to barter for gold also speaks volumes of it's actual value. No other substance in the world can do such a thing across location and history.
Bitcoin will have it's rise and fall, like all fiat, while gold is the unchanging constant of the universe created by God. The sun could supernova tomorrow, and not one ounce of gold would be lost (it will convert to a gaseous plasma until things cool down again).
While I hope we never find out, even in the event of all out thermo nuclear war, we’d still have energy. Probably still have internet, and coin trading .
We store bitcoin and other coins on cold storage wallets so it cannot ever be lost in a fire or boat accident (so long as you use backups). I’m not sure what your point is?
Edit you certainly cannot take a brick of gold or a gold coin to a bank. Go to a refinery or coin collector (or a market like eBay or similar) and sure.
But you’re saying bitcoin is harder to keep its value or harder yo trade? It isn’t 2013. It’s pretty easy to trade crypto now
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Just so people understand what fiat is:
www.etymonline.com
1630s, "authoritative sanction," from Latin fiat "let it be done" (used in the opening of Medieval Latin proclamations and commands), third person singular present subjunctive of fieri "be done, become, come into existence" (from PIE root *bheue- "to be, exist, grow"), used as passive of facere "to make, do." Meaning "a decree, command, order" is from 1750. In English the word also sometimes is a reference to fiat lux "let there be light" in Genesis i.3.
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In other words, fiat is something done by the will. There are two sources of will in this world; divine and human.
Gold existed before man and was created by God; bitcoin is created by human will.
The popular use of the word fiat today refers to that which comes from government sanction, but in reality anything created by human will is fiat.
Divine will, which is divine fiat, is obviously immortal and cannot change.
That's why the "price" of Gold barely fluctuates, because it's not able to change. God created it as a immortal unchanging substance. Logically, Gold must be a reflection of God himself, on some fundamental level. WE make Gold money, but Gold is far more than just money.
That said, that Gold's "price" over the years has been steadily increasing shows the actual value of inflation's erosion:
The bubble of bitcoin, accurately reflected in this chart:
Is not even close to reflecting the current rates of inflation.
Will the bubble go up? Who knows? But this isn't based on inflation, it's obviously based on massive buy-ins, and the value is completely uncertain. Given that bitcoin has has numerous 80% crashes in the past, it's basically guaranteed to happen again.
Thus, we are probably at or near a top, with these all time highs, and anyone who doesn't sell is being a fool. When it crashes, it will be a great time to buy.
I am not a "no coiner," I understand that Blockchain technology will disrupt and replace the stock and commodity exchanges across the world. Bitcoin is the first demonstration of Blockchain tech and gets a lot of hype and excitement as the first mover. Bitcoin's dominance could last decades.
But none of this changes the facts:
- Bitcoin is fiat, like all traded stock. It's not even close to gold.
- Bitcoin will have therefore have massive price swings.
- Bitcoin must be traded to be used properly. HODL'ers are just as bad as nocoiners. Both miss out huge, in terms of the math.
Just trying to keep discussion here focused on reality. It's your money. Don't come crying when it evaporates because you put faith in a man-made digital stock token.
fiat | Search Online Etymology Dictionary
The online etymology dictionary (etymonline) is the internet's go-to source for quick and reliable accounts of the origin and history of English words, phrases, and idioms. It is professional enough to satisfy academic standards, but accessible enough to be used by anyone.
www.etymonline.com
1630s, "authoritative sanction," from Latin fiat "let it be done" (used in the opening of Medieval Latin proclamations and commands), third person singular present subjunctive of fieri "be done, become, come into existence" (from PIE root *bheue- "to be, exist, grow"), used as passive of facere "to make, do." Meaning "a decree, command, order" is from 1750. In English the word also sometimes is a reference to fiat lux "let there be light" in Genesis i.3.
---
In other words, fiat is something done by the will. There are two sources of will in this world; divine and human.
Gold existed before man and was created by God; bitcoin is created by human will.
The popular use of the word fiat today refers to that which comes from government sanction, but in reality anything created by human will is fiat.
Divine will, which is divine fiat, is obviously immortal and cannot change.
That's why the "price" of Gold barely fluctuates, because it's not able to change. God created it as a immortal unchanging substance. Logically, Gold must be a reflection of God himself, on some fundamental level. WE make Gold money, but Gold is far more than just money.
That said, that Gold's "price" over the years has been steadily increasing shows the actual value of inflation's erosion:
The bubble of bitcoin, accurately reflected in this chart:
Is not even close to reflecting the current rates of inflation.
Will the bubble go up? Who knows? But this isn't based on inflation, it's obviously based on massive buy-ins, and the value is completely uncertain. Given that bitcoin has has numerous 80% crashes in the past, it's basically guaranteed to happen again.
Thus, we are probably at or near a top, with these all time highs, and anyone who doesn't sell is being a fool. When it crashes, it will be a great time to buy.
I am not a "no coiner," I understand that Blockchain technology will disrupt and replace the stock and commodity exchanges across the world. Bitcoin is the first demonstration of Blockchain tech and gets a lot of hype and excitement as the first mover. Bitcoin's dominance could last decades.
But none of this changes the facts:
- Bitcoin is fiat, like all traded stock. It's not even close to gold.
- Bitcoin will have therefore have massive price swings.
- Bitcoin must be traded to be used properly. HODL'ers are just as bad as nocoiners. Both miss out huge, in terms of the math.
Just trying to keep discussion here focused on reality. It's your money. Don't come crying when it evaporates because you put faith in a man-made digital stock token.
Just so people understand what fiat is:
fiat | Search Online Etymology Dictionary
The online etymology dictionary (etymonline) is the internet's go-to source for quick and reliable accounts of the origin and history of English words, phrases, and idioms. It is professional enough to satisfy academic standards, but accessible enough to be used by anyone.
1630s, "authoritative sanction," from Latin fiat "let it be done" (used in the opening of Medieval Latin proclamations and commands), third person singular present subjunctive of fieri "be done, become, come into existence" (from PIE root *bheue- "to be, exist, grow"), used as passive of facere "to make, do." Meaning "a decree, command, order" is from 1750. In English the word also sometimes is a reference to fiat lux "let there be light" in Genesis i.3.
---
In other words, fiat is something done by the will. There are two sources of will in this world; divine and human.
Gold existed before man and was created by God; bitcoin is created by human will.
The popular use of the word fiat today refers to that which comes from government sanction, but in reality anything created by human will is fiat.
Divine will, which is divine fiat, is obviously immortal and cannot change.
That's why the "price" of Gold barely fluctuates, because it's not able to change. God created it as a immortal unchanging substance. Logically, Gold must be a reflection of God himself, on some fundamental level. WE make Gold money, but Gold is far more than just money.
That said, that Gold's "price" over the years has been steadily increasing shows the actual value of inflation's erosion:
The bubble of bitcoin, accurately reflected in this chart:
View attachment 15256
Is not even close to reflecting the current rates of inflation.
Will the bubble go up? Who knows? But this isn't based on inflation, it's obviously based on massive buy-ins, and the value is completely uncertain. Given that bitcoin has has numerous 80% crashes in the past, it's basically guaranteed to happen again.
Thus, we are probably at or near a top, with these all time highs, and anyone who doesn't sell is being a fool. When it crashes, it will be a great time to buy.
I am not a "no coiner," I understand that Blockchain technology will disrupt and replace the stock and commodity exchanges across the world. Bitcoin is the first demonstration of Blockchain tech and gets a lot of hype and excitement as the first mover. Bitcoin's dominance could last decades.
But none of this changes the facts:
- Bitcoin is fiat, like all traded stock. It's not even close to gold.
- Bitcoin will have therefore have massive price swings.
- Bitcoin must be traded to be used properly. HODL'ers are just as bad as nocoiners. Both miss out huge, in terms of the math.
Just trying to keep discussion here focused on reality. It's your money. Don't come crying when it evaporates because you put faith in a man-made digital stock token.
Let me help you out here. If you were making this case that usdt is not based on anything and is a house of cards that can and should be audited into nothingness then I’d agree. Tether is not backed by actual reserves and can be created out if nothing. Which is why it could and probably should collapse and maybe we use other stable coins like usdc or other coins for transactions
But Bitcoin isn’t going anywhere. It will have swings in value sure but over the course of years and yes decades the number goes up in the long run as it’s a finite asset and no one can just go and print up more.
Just remember “other stablecoins” just like tether are based on nothing. Fiat is digital nothing in a database. “Backing” stablecoins with Fiat nothing is still nothing.
I personally prefer bitcoin to gold, I was once in another country and had gold to sell I was desperate for money and nobody wated to buy it and eventually after walking very far someone bought it from me for 20% of the value it was worth, with bitcoin its instant, I can cash out anytime or purchase stuff.
Have a look at the guy John Mcaffe, he was wanted and was on the run, he was in jail 11 times in 9 different countries, nobody could confiscate his wealth and he lived like that with crypto currencies, no bank account, I noticed when he entered certain countries the cops would sometimes confiscate his possession like guns but they couldnt touch his money, its because of John that got me into bitcoin I saw how useful it was, he has done some interviews and podcasts with various people and he spoke about this. Im not against gold though but bitcoin is far more practical for me right now. Good luck trying to sneak your gold through borders and dangerous areas
All the gold proponents live in an imaginary universe where they can transact in gold anywhere with low slippage and low security risk. Likely because they can imagine themselves doing it, yet have never actually done it.
How does the person you are transacting with verify the gold? “Trust me bro, it’s a gold eagle!” In the age of modern manufacturing, I can get 100 fake gold eagles from China…this increases the transaction costs of real gold, because coinage technology is far behind modern manufacturing. It worked great when few people had the tools or skills (or tungsten) to make fake coins, but that time is long passed. Gold is being demonetized by technology.
Anyone with a cellphone can reasonably verify Bitcoin is authentic, and with 100% certainty with a $100 raspberry pi node connected to the internet.
Except they are. USDC is backed by US dollar reserves and cannot just be generated out of nothing .
USD Coin - Wikipedia
If you want to say that tether is a house of cards not built on anything then yes I’d agree
“Blockchain technology” isn’t going to revolutionize anything. You can’t separate out one piece of a breakthrough and call it the innovation…it just isn’t. The breakthrough is the combination of many things together into a cohesive technology.
Blockchain (actually, time-chain) is not what makes Bitcoin. It is the consensus rules, limited supply, difficulty adjustment, proof of work (energy money), sha256, solving the double spend problem ( the timechain. )
Blockchain is as useful outside of Bitcoin, as a piston is outside of an engine. Yes you can hit someone over the head with it, or use it as a paperweight, but it’s essentially useless in anything else but the engine.
There is no reason to put real-estate on the blockchain, or computer programs, or any other solutions looking for a problem. The blockchain brilliantly solves the double-spend problem - it does not solve any other problem, and it is not useful for any other technology other than bitcoin.
Blockchain (actually, time-chain) is not what makes Bitcoin. It is the consensus rules, limited supply, difficulty adjustment, proof of work (energy money), sha256, solving the double spend problem ( the timechain. )
Blockchain is as useful outside of Bitcoin, as a piston is outside of an engine. Yes you can hit someone over the head with it, or use it as a paperweight, but it’s essentially useless in anything else but the engine.
There is no reason to put real-estate on the blockchain, or computer programs, or any other solutions looking for a problem. The blockchain brilliantly solves the double-spend problem - it does not solve any other problem, and it is not useful for any other technology other than bitcoin.
The dam is breaking
Except you forgot that US dollar slave tokens are already generated out of nothing. Something backed by nothing is still nothing.Except they are. USDC is backed by US dollar reserves and cannot just be generated out of nothing .
USD Coin - Wikipedia
en.m.wikipedia.org
If you want to say that tether is a house of cards not built on anything then yes I’d agree
And how does a person know if the gold they buy is pure, is it 9 carrot or 24 carrot, gold plated etc, Its possible to have the core of the good block in some other material and only the outside real gold, only a true expert would be able to tell probably by checking the weight and the sound it makes or the magnetic field etc with their instruments that we dont have on hand. Before I was even aware that there was such a thing as crypto currencies I had already lost interest in gold because of my experience, not saying gold is bad it has its place but its not practical for me.
Bitcoin is truly a game changer for we the people, its really easy to use and very fast.
every so often market makers will need to liquidate out leveraged longs since there were too many of time from the past weeks.
Extreme volatility in an investment such as this is normal and to be expected. Did you think about selling when it shot up or do you plan to hold forever thinking it's going to the moon? If you were planning on selling you had no better writing on the wall telling you to do so, if you plan to hold forever then you shouldn't even be concerned with the daily chart.
Batman
Heritage
I've been holding for over 3 years and I was willing to hold longer but was starting to consider selling it. It wasn't self evident to me to sell it especially considering a very modest gain from what I put into it.
My portfolio went up overall . If you want to buy dips today was a good day .
Oh, mostly Chrp carried my portfolio today. On twitter, Cz started following it, some speculate Binance listing incoming and boom number go up.
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I would but he suicided himself after saying if he ever committed suicide that he was murdered. Mcaffe was a loser, a really bad guy eaten up with demonic spirits who thrived on chaos and so it is no wonder that bitcoin was his chosen vehicle of jew-centered greed. Get financially in bed with this shady underworld at your own peril. One should be looking to simplify one's life by moving away from a need for any type of currency, much less a complicated one that requires 105 pages (and counting) on CiK to track, figure out, and explain.
"Money, money, money, bitcoin is money! Better than gold! Track it, follow it, obsess about it, its up, its down, its in a wallet, the wallet is hot in cold storage with an off ramp to a bank that sometimes honors bitcoin within 30 days, I woke up this morning and all my bitcoin was gone, wait, now its back, put all your bills on autopay with btc with 9.12% interest cap on your dividends, and then put your btc in your will with a firewall pass code that no one can access but you but you're dead, and don't forget to take profits but still hold forever because btc is going to a million dollars in July of 2027 when gold and the US dollar will deflate from a bubble into zero during a bull rush!"