The Power of Bitcoin
- Thread starter Arjun
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biggen
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- May 6, 2018
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Love the BTC. I don't believe it will ever catch on as a true fiat replacement but, damn, I still love it. Primarily because I've done well with it over the last 10 years. Its heading back to it all time high by the way as well. Hope some people bought in during the last couple of months when it was low!
The power of bitcoin lies in the number of people who buy this cryptocurrency. If their number increases, then the price per crypto coin also increases. Otherwise, the value falls, sometimes rapidly. Thus, since the beginning of the year, bitcoin has fallen three times, and it is a complete collapse, as many traders have lost hundreds of thousands of dollars on it. It is much easier to develop if we talk about forex because there are no brakes in this industry. I prefer to use help from Forex brokers that accept PayPal.
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Cameraguy
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biggen
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I do Eth, LTC, Binance BNB, and hold some Shiba and Doge. Those last two are just “fun” coins. If they go up, fine. But I don’t expect them too.
Cameraguy
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Check out these three: Urus, VRA, TOMO - Let me know what you think of them. Btc and eth are a must
whoami ™
Pulling my weight
IMHO 2022 is going to be for the majors. ETH/BTC. ETH has already gotten me half way to millionaire status. The Merge is about to take me to 7 figures.
is there any point me mining with my 1650, on myBI rig, may as well make use of the spare.
whoami ™
Pulling my weight
Funny seeing this come up in my Alerts.... I ended up over shooting my price target by $200. Plan was to start selling above $5k but ETH only made it to $4.8k. No risk, no reward ¯\(ツ)/¯ . If all the stars in the galaxy had aligned differently and I was able to off load what I have for $5k and some how managed to buy the bottom last weekend @ $800 I'd have 400+ ETH. Then say ETH made it to at least ATH again, which I personally have no doubt it will, in late 2024-2025 after next Bitcoin halving or when ever the Merge finely does happens, it would have put me over $2M in profit next cycle.
Instead I only ended up walking away taking $36k profit in fiat which covered my original investment and allowed me to pay off an auto loan and left me with 75 ETH to ride with next cycle.
Instead I only ended up walking away taking $36k profit in fiat which covered my original investment and allowed me to pay off an auto loan and left me with 75 ETH to ride with next cycle.
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whoami ™
Pulling my weight
At this point it wouldn't be worth the additional cost in power. Ethereum and Bitcoin are under their 200 week moving averages and at the point of maximum opportunity. Now would be the time to accumulate by buying with fiat if you have conviction. I might be wrong but I'm thinking a 1650 gets about 24mh on ETH. The network hashrate is too high and price is too low to be worth mining with a 1650 right now. Personally Im mining at a loss with ten P104's that I decided not to sell that now get about 25mh a piece but Im just doing it to support the network and speculating on future price.
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Cameraguy
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SebastianSkinner
n3wb
So, guys, what do you think of Bitcoin now? It’s been quite a long time since it crashed, so I’d like to know if it’s affected you. My team and I are still mining it. We’ve invested too much time, money, and energy to let it go just because it’s crashed. Shit happens, you know. We still keep an eye on BTC’s dashboard . We still have hope… That’s why we keep mining it. Luckily the mining service is free. Anyway, guys, I’ll be waiting for your replies. I want to know what’s going on in your constantly analyzing heads.
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Cameraguy
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whoami ™
Pulling my weight
I think ETH will out preform again next cycle, but BTC will probably lead going into the halving. I was 99.9% sure BTC would make it to 100k last cycle & I thought ETH would make it to 5k. ETH just missed my target but BTC fell way short. Could've been from all the paper BTC everyone was selling and using for collateral. FTX/3AC/BlockFi/Celsius/Voyager money had to come from somewhere and differently didn't have the actual BTC or ETH.
Im shooting for 10k ETH sometime around 2024-2025 and this time I'm going to start selling 30-50k at a time above 7k. Takes about a week for fiat to hit my bank account. Last time I had 500k and wasn't prepared. You dont want to try and do something that big in one shot. Ive had too many bad experiences with PayPal and Ebay back in the day to even think about trying it.
Im shooting for 10k ETH sometime around 2024-2025 and this time I'm going to start selling 30-50k at a time above 7k. Takes about a week for fiat to hit my bank account. Last time I had 500k and wasn't prepared. You dont want to try and do something that big in one shot. Ive had too many bad experiences with PayPal and Ebay back in the day to even think about trying it.
Crypto currency - as it stands today - is a total shit show. The unregulated and seemingly unsecure nature of the entire system certainly prevents me from investing any real money into it. Even if you can make a profit based on your purchase and selling price, there is a huge risk whenever you keep those assets in anything but cold storage. Hackers are just beginning to see how easy it is to steal crypto and everyday people have their crypto stolen even when they use "trusted" storage sites and exchanges. To make matters worse, the people running these storage sites and exchanges seem to be even bigger crooks than the hackers! If you do have something happen to your crypto, there is no real recourse due to the anonymous nature of crypto. Unfortunately, this is only the beginning and it is going to get much worse before it gets any better.
Between the rampant fraud, market manipulation, and downright theft, no one should consider crypto a legitimate option. It's simply gambling at it's most basic level. In fact your odds at Vegas might be better, and at least they are defined/known at Vegas - with Crypto you have no idea what's really going on behind the scenes. That said, it's OK to gamble with your money as long as you are honest about what you are doing and not tricking yourself into believing it is an legitimate long term money maker. But thinking crypto is legitimate with the infrastructure that is currently in place is justplain stupid being naive IMHO.
Between the rampant fraud, market manipulation, and downright theft, no one should consider crypto a legitimate option. It's simply gambling at it's most basic level. In fact your odds at Vegas might be better, and at least they are defined/known at Vegas - with Crypto you have no idea what's really going on behind the scenes. That said, it's OK to gamble with your money as long as you are honest about what you are doing and not tricking yourself into believing it is an legitimate long term money maker. But thinking crypto is legitimate with the infrastructure that is currently in place is just
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mat200
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- Jan 17, 2017
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bigredfish
Known around here
whoami ™
Pulling my weight
This is what I do. I'm no tourist. I'm a HTF (High Time Frame) ponzi trader. I mined Ethereum through two bulls and one bear and I've done as well as I could have ever hoped. I've been bullish on Bitcoin since 2012 and ETH since 2017. The next Bitcoin halving will be here in less than 10 months. I can tell you exactly how this will play out. Not even a pandemic could stop the last cycle. The worst thing that could happen to BTC & ETH is if Democrats win the 2024 election and we go to war, but it still wont stop what's coming.
BTC... 30k-35k is last cycles 10k. Price will bounce around this area for the next 6-10 months and I will repeatably read that we will never see thirty thousand dollar Bitcoin again on Twitter every time the price crosses 30-35k.
Bitcoin will run first. It will most likely take another 6-8 months after the halving to clear previous ATHs @ 70k as it sucks money from all other alts including Ethereum. As Twitter calls for the Death of Ethereum, I will trade my BTC holdings for Ethereum. Ethereum will have bottomed vs. Bitcoin and start Alt szn. Bitcoin will top about 500-550 days after the halving somewhere between 2x and 3x previous ATH which will put it between 140k - 210k. Ethereum will be harder to predict since it is built different than Bitcoin. My plan is to start selling my ETH in $30k increments once price crosses 2x ATH putting it around 10k. I believe ETH will also top around 3x ATH putting it at 15k. Once the Ethereum foundation sends 10k + ETH or more to an exchange to sell.... And I will be watching... this next bull will end and I will dump anything I'm still holding. Then I will wait for Bitcoin to touch its 200 week moving average to rebuy my holdings 50-75% less than I sold them for.
Everything else is just noise. There will be new mem coins that melt face... including OG's like DOGE, DOGE has made it this far and I don't see Elon letting go yet. You can count on people being low IQ. They look at it like a lotto ticket. If your hungry $10 will not fill your fridge, but a $10 lotto ticket or a mem coin worth less than a dollar could. Its unlikely, but its more possible than $10 spent directly on food.
Most will lose money, and I will not. Definitely not principle. That would literally be impossible at this point. The sooner you come to realize traditional markets, currency... basically everything.... is a scam the more likely you will be to succeed. You don't think the equity in your home has increased 30% over the last few years because you planted a bush or painted a few walls...
BTC... 30k-35k is last cycles 10k. Price will bounce around this area for the next 6-10 months and I will repeatably read that we will never see thirty thousand dollar Bitcoin again on Twitter every time the price crosses 30-35k.
Bitcoin will run first. It will most likely take another 6-8 months after the halving to clear previous ATHs @ 70k as it sucks money from all other alts including Ethereum. As Twitter calls for the Death of Ethereum, I will trade my BTC holdings for Ethereum. Ethereum will have bottomed vs. Bitcoin and start Alt szn. Bitcoin will top about 500-550 days after the halving somewhere between 2x and 3x previous ATH which will put it between 140k - 210k. Ethereum will be harder to predict since it is built different than Bitcoin. My plan is to start selling my ETH in $30k increments once price crosses 2x ATH putting it around 10k. I believe ETH will also top around 3x ATH putting it at 15k. Once the Ethereum foundation sends 10k + ETH or more to an exchange to sell.... And I will be watching... this next bull will end and I will dump anything I'm still holding. Then I will wait for Bitcoin to touch its 200 week moving average to rebuy my holdings 50-75% less than I sold them for.
Everything else is just noise. There will be new mem coins that melt face... including OG's like DOGE, DOGE has made it this far and I don't see Elon letting go yet. You can count on people being low IQ. They look at it like a lotto ticket. If your hungry $10 will not fill your fridge, but a $10 lotto ticket or a mem coin worth less than a dollar could. Its unlikely, but its more possible than $10 spent directly on food.
Most will lose money, and I will not. Definitely not principle. That would literally be impossible at this point. The sooner you come to realize traditional markets, currency... basically everything.... is a scam the more likely you will be to succeed. You don't think the equity in your home has increased 30% over the last few years because you planted a bush or painted a few walls...
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