Bitcoins - digital currency
04-09-2021
, 11:46 AM
04-09-2021
, 12:31 PM
04-09-2021
, 02:29 PM
Quote:
re short squeeze: this honestly seems self explanatory
much like how most of the bull runs coincide with increased volume as more buying pressure than selling pressure raises the cost, if we were to approach universal adoption, the amount of buying pressure would go up infinitely
99% of the population doesn't own bitcoin. For them to start buying, let's say a situation where it became the only way to buy stocks or real estate etc etc, it'll create an absurd buy pressure
i also don't buy the notion that all those hodlers will suddenly start selling at 100k or 250k etc, just look at how shuffle is repeatedly ridiculed for making a very profitable trade by selling at 37k
housenuts, do you have any genuine plans to sell any time in the near future at any price? Does anyone here have sell orders in place in the event it hits a certain number? Not long ago there was a discussion here where people were talking about putting 80% to 100% of net worth into bitcoin.
mass adoption is every holders dream, everyone here is buying and holding when it's purely speculative, there's no way you guys are going to start selling once you know it's now a genuine thing and you'll just be watching the price skyrocket with glee
this is the great paradox of bitcoin, it's greatest bull case is the very thing that will prevent it from occuring because everyone not holding btc which is the 99.99% of the world is not going to go down that path
this isn't to say I don't see a big future ahead or anything, but if the world collectively decides we're all going to ape into a decentralized crypto currency, it'll be something newly created and distributed in a manner that preserves the status quo. you guys should read up on how the EU transitioned to the Euro or countries like ecuador that abandoned their own currency due to collapse switched to the dollar instead - there's always some who suffer or benefit a bit in the transition, but by and large they ensure there's no bagholders nor kingmakers made in the process - this is why btc and all other cryptos are capped to an investment tool, any future currencies would be newly minted and distributed rather than adopting one, the only future where btc is king is mad max
much like how most of the bull runs coincide with increased volume as more buying pressure than selling pressure raises the cost, if we were to approach universal adoption, the amount of buying pressure would go up infinitely
99% of the population doesn't own bitcoin. For them to start buying, let's say a situation where it became the only way to buy stocks or real estate etc etc, it'll create an absurd buy pressure
i also don't buy the notion that all those hodlers will suddenly start selling at 100k or 250k etc, just look at how shuffle is repeatedly ridiculed for making a very profitable trade by selling at 37k
housenuts, do you have any genuine plans to sell any time in the near future at any price? Does anyone here have sell orders in place in the event it hits a certain number? Not long ago there was a discussion here where people were talking about putting 80% to 100% of net worth into bitcoin.
mass adoption is every holders dream, everyone here is buying and holding when it's purely speculative, there's no way you guys are going to start selling once you know it's now a genuine thing and you'll just be watching the price skyrocket with glee
this is the great paradox of bitcoin, it's greatest bull case is the very thing that will prevent it from occuring because everyone not holding btc which is the 99.99% of the world is not going to go down that path
this isn't to say I don't see a big future ahead or anything, but if the world collectively decides we're all going to ape into a decentralized crypto currency, it'll be something newly created and distributed in a manner that preserves the status quo. you guys should read up on how the EU transitioned to the Euro or countries like ecuador that abandoned their own currency due to collapse switched to the dollar instead - there's always some who suffer or benefit a bit in the transition, but by and large they ensure there's no bagholders nor kingmakers made in the process - this is why btc and all other cryptos are capped to an investment tool, any future currencies would be newly minted and distributed rather than adopting one, the only future where btc is king is mad max
Some hodlers will hold out longer than others, before selling some of their assets. But just look in this thread, the last few months both aggo and onemoretimes sold a decent portion of their holdings. They both still hold large positions, and believe the long term future is bullish, but wanted to secure their future. There are probably others who have done the same thing, but haven't posted about it.
Once again, Bitcoin will not be adopted as world reserve currency overnight. If it happens, it will be preceded by it being individually adopted by people, companies, institutions, not collectively decided before it is already widely regarded as the safe haven asset.
Btw, I think at least 1 % of the worlds population already own bitcoin, not 0.01 %.
04-09-2021
, 03:13 PM
04-09-2021
, 07:06 PM
nice one johnny 
ha, must have been 2009 then, knew it was when i was living in the apartment i had during the 2008 olympics and I only lived there for a year - seems like btc was around longer than that, all i know is the olympics were when i began transitioning from poker to tech and a lot of companies i was consulting with were adding code to their websites to hijack their visitors unused cpu cycles to mine btc and that's how I learned all about it
was into the whole concept of using unused cpu cycles so had my laptop mine in the background as well as fold proteins with folding@home
laptop died sometime in 2009 and tossed it and never setup btc mining on the new one, honestly couldn't tell you if i had any coins as I never paid any attention nor checked since it was worthless at the time but imagine it's possible i had some that would be worth a decent amount today since I did join a pool - sadly folding at home won out for my unused cpu cycle interest, it's still my email signature to this day
, kind of leave it up as a tattoo of regret
ha, must have been 2009 then, knew it was when i was living in the apartment i had during the 2008 olympics and I only lived there for a year - seems like btc was around longer than that, all i know is the olympics were when i began transitioning from poker to tech and a lot of companies i was consulting with were adding code to their websites to hijack their visitors unused cpu cycles to mine btc and that's how I learned all about it
was into the whole concept of using unused cpu cycles so had my laptop mine in the background as well as fold proteins with folding@home
laptop died sometime in 2009 and tossed it and never setup btc mining on the new one, honestly couldn't tell you if i had any coins as I never paid any attention nor checked since it was worthless at the time but imagine it's possible i had some that would be worth a decent amount today since I did join a pool - sadly folding at home won out for my unused cpu cycle interest, it's still my email signature to this day
, kind of leave it up as a tattoo of regret
04-09-2021
, 09:01 PM