The difference between investing and living on a Bitcoin standard
I dont think people joined bitcoin just because its popular, its useful and as long as its useful it will remain popular, Im happy that there is a place thats decentralized and banks and governmenr cant touch and have no control over, this is something positive in the world.
I heard Americans are forbidden by the governmwnt to own physical gold, you can own jewelery but not gold blocks, I once had gold jewelery that I needed to sell in an emergency in a foreign country, nobody wanted to buy it from me and I finally went into a jewelery store and the paid me about 20% of what I paid for it 7 years prior, I lost out big time, since that experience I lost interest in gold, I think if I had more useful things to sell I would have sold it faster and gotten a better price for it.
According to you, 100k has been imminent since 2021. Needless to say, I'm afraid your credibility on this issue is nil. If you want to talk about Thanksgiving, your Bitcoin price targets are the biggest turkey around.
That’s the problem with gold, the market is not very liquid and slippage is high.
Americans are allowed to own gold, it was banned from 1933 to 1973, but is now legal.
In a sense, anything that is within a cycle is imminent. But it is true that I thought it would go up to 100k at the last bull peak in 2021. Because I know what it is, though, I picked it back up when it "died" another 200 times in the next couple of years, so that just makes the average price that much more amazing when we are again the best performing asset of the year and the new bull run is coming.
For anyone that doesn't know, BTC goes in 4 year cycles that are more based on liquidity and debt cycles than the halvings, though the latter of course help in that they are a sign of lower supply and even less disinflation.
What we are about to see in the next 15 months is going to be really, really fun. I'll just leave it at that.
JayR
Heritage
At risk of just being accused of being into Bitcoin only for the "sick gains," I have to say the range-bound price action over the past several months has been frustrating given that the fundamentals only seem to be getting better.
It's still August -- plenty of time to hit $100k in 2024!
Wen Lambo??
There are months when nothing happens, and days when years happen. Those days are coming.At risk of just being accused of being into Bitcoin only for the "sick gains," I have to say the range-bound price action over the past several months has been frustrating given that the fundamentals only seem to be getting better.
It's still August -- plenty of time to hit $100k in 2024!
Wen Lambo??
It won't be very long before scorpion's gonna have some 'splainin to dooooooo!
I mean yes in general slippage on gold will be higher than say stocks or Bitcoin etc. But I can say from personal experience if you do things the right way its still possible to keep slippage on physical gold transactions to a minimum (say 3 - 4% round trip to buy then sell).
Really? at one stage around 2015 I used to listen to the Robert Kiyosaki podcast and he used to say then that physical gold was something the government banned for Americans to buy, although he always boasted that he owned a lot of Gold, maybe I misunderstood, anyway thats good its allowed now and also very crazy that it was actually banned at one stage, which also goes to show that gold can be confiscated much easier than bitcoin
While Kiyosaki has a good intuitive understanding of how to exploit the fiat system, using leverage in real estate, I have to say I think he is a bit of a con artist. I don’t think he is as wildly successful as he claims to be, or he wouldn’t be doing seminars, charging stupid amounts of money.
The gold story goes back to WW1. The Germans “discovered” that they could outspend all the imperial powers by money printing. The root of our downfall from gold backed money, however started with the British. The Bank of England issued war bonds, to fund the war (WW1). However, no one wanted to buy the bonds, the bank ended up creating money (millions of GBP) and giving it to 2 of its executives to purchase the bonds in their own names.
Your country needs funds: The extraordinary story of Britain’s early efforts to finance the First World War
Michael Anson, Norma Cohen, Alastair Owens and Daniel Todman Financing World War I required the UK government to borrow the equivalent of a full year’s GDP. But its first effort to raise capital i…
bankunderground.co.uk
This was the beginning of the end for gold backed currency. Citizens were no longer allowed to redeem their paper currency for gold, the GBP became devalued, but the British government attempted to re-peg the GBP to the pre-war value. People in Britain who owned gold did not want to sell it for less GBP than it was actually worth, so much of the gold left in Britain was sent to the US, where they got a fair price for their gold. All the gold started flooding out of England to the US.
The only solution was to either re-value the GBP, which had maintained its peg to gold since Sir Isaac Newton established it in 1717 as master of the mint, or convince the US to devalue the dollar.
The latter is what happened, and the US went on a bender of credit expansion in the 1920s, culminating in the crash of 1929 and Great Depression, leading to executive order 6102 in 1933 and gold confiscation, then devaluing the dollar once the government had the gold. It was a great rugpull on the people, instantly stealing 40% of their wealth. The next time that happened was Aug 15 1971, when Nixon did the same, except he stole the entire world’s gold (which was in US vaults after Bretton Woods), leaving every other country with rapidly devaluing American paper.
Peak Fiat clown world!!!
Government of Zimbabwe won't accept it's own slave money.
Government of Zimbabwe won't accept it's own slave money.
Yes probably he is not as successful as he claims, one of the reasons I think he also went into seminars and books is because he once explained that people in the world are spending more money on education than on cars and houses, so I think he wanted a chunk of this opportunity, I dont know if he managed to do that or not, what teally hit home for me, what I most learnt from him is about property, how a house isnt an asset and also how to rent a property so that it actually makes you money, which is basically the rentals must cover all your expenses, the bond, rates and taxes, water and lights then you should have something left over to put into your pocket, then its a good deal and an asset, these kinds of properties are not easy to find it takes some searching but there are there for those who have the skill to identify.While Kiyosaki has a good intuitive understanding of how to exploit the fiat system, using leverage in real estate, I have to say I think he is a bit of a con artist. I don’t think he is as wildly successful as he claims to be, or he wouldn’t be doing seminars, charging stupid amounts of money.
The gold story goes back to WW1. The Germans “discovered” that they could outspend all the imperial powers by money printing. The root of our downfall from gold backed money, however started with the British. The Bank of England issued war bonds, to fund the war (WW1). However, no one wanted to buy the bonds, the bank ended up creating money (millions of GBP) and giving it to 2 of its executives to purchase the bonds in their own names.
Your country needs funds: The extraordinary story of Britain’s early efforts to finance the First World War
Michael Anson, Norma Cohen, Alastair Owens and Daniel Todman Financing World War I required the UK government to borrow the equivalent of a full year’s GDP. But its first effort to raise capital i…
This was the beginning of the end for gold backed currency. Citizens were no longer allowed to redeem their paper currency for gold, the GBP became devalued, but the British government attempted to re-peg the GBP to the pre-war value. People in Britain who owned gold did not want to sell it for less GBP than it was actually worth, so much of the gold left in Britain was sent to the US, where they got a fair price for their gold. All the gold started flooding out of England to the US.
The only solution was to either re-value the GBP, which had maintained its peg to gold since Sir Isaac Newton established it in 1717 as master of the mint, or convince the US to devalue the dollar.
The latter is what happened, and the US went on a bender of credit expansion in the 1920s, culminating in the crash of 1929 and Great Depression, leading to executive order 6102 in 1933 and gold confiscation, then devaluing the dollar once the government had the gold. It was a great rugpull on the people, instantly stealing 40% of their wealth. The next time that happened was Aug 15 1971, when Nixon did the same, except he stole the entire world’s gold (which was in US vaults after Bretton Woods), leaving every other country with rapidly devaluing American paper.
The downside I found about him is he doesnt teach money for the common man but for the person who is already earning well.
So what do you think is going to happen to money world wide? We cant go on like this for much longer being off the gold standard for so long, this bubble will burst, will countries start adopting their own crypto currencies? Or a global one? I dont think they will adopt bitcoin only a few like El Salvador, but the rest I dont think so because they cant cheat bitcoin, I also think if the world goes on a crypto currency the government has more control and power to shut people down and also to track everything, thoughts?
I know we have talked about alph a lot in this thread, hopefully sone of you loaded up a month ago when it dipped, it’s pumping when the rest of the alt coins are flat or dumping, very encouraging overall, makes me even more bullish how it will do in the bull run.
Alph for the past month
And the past year.
Reminds me somewhat of kaspa behaving very un crypto like
Alph for the past month
And the past year.
Reminds me somewhat of kaspa behaving very un crypto like
I don’t think 100k for Bitcoin is “imminent “. There is such a thing called front running .
Last cycle many people said “when Bitcoin gets to 100000 then i will sell. “. The front runners sold at like 69000. That isn’t even close to 100k
Something similar could happen this bull run. Maybe Bitcoin peaks about 90-95k then the front runners sell.
Too early to say yet but front runners have always played a big role in the psychology of crypto.
Bitcoin is the only choice. Governments may want a digital currency that they can print more of and continue to steal....but the reality is that Bitcoin is global. Keep reading the Bitcoin standard
This has already been attempted. Someone wrote a great article about Auroracoin in iceland, but I need to find it.
Basically, a country would "airdrop" it's own cryptocurrency to its citizens. The smart ones sell the new state currency immediately for Bitcoin, and those that don't get rid of it are stuck with increasingly worthless state cryptocurrency. Bitcoin is global money - you don't need to cross a border or even have a forex acct to get it, it is borderless and permission-less. Easy to get rid of government dogshit and trade it for Bitcoin.
There won't be 100 useless government currencies being traded, there will be one money.
I posted a bounty on nostr so hopefully someone knows the article I want to find, it was a perfect demonstration of the game theory at play when it comes to bitcoin and competing government “crypto”
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You should buy bullion coins. Difficult to counterfeit and liquid. Price is spot + small premium, usually 2% (but can go higher). To sell, you can get spot price easily.
I bought from texmetals.com. Great company in Texas. You can check their prices, even how much they pay.
Scorpion will like this. Actually all of us should like it.
Solana meme trader turns 1million dollars into $9000 in one hour
finbold.com
Solana meme trader turns 1million dollars into $9000 in one hour
Crypto trader turns $1 million into $9k in an hour
A trader has lost a significant amount of money by betting on a token that had not proven itself in the market.
finbold.com
