Bitcoin Price Tracking & Discussion -- 2020

[ace7550]

Unfortunately these 20-30% drops will happen even during bull runs.

Yep. We've got a pull back going. Not to worry. This was expected.

[floki]

tried to warn u

[Sam Odom]

17244

[themike78]

You boys better be buying. FOMO will hit others next year when this screams past 20 soon and then towards 50k in 2021.

Wrong. It will never be worth that much. It's coming down now and will probably be worth about 3000 next year.

[ace7550]

Wrong. It will never be worth that much. It's coming down now and will probably be worth about 3000 next year.

[Ghenghis Kahn]

The whales were kind enough to give us a Black Friday discount. Happy Thanksgiving.

[StackinGreen]

The whales were kind enough to give us a Black Friday discount. Happy Thanksgiving.

[Iona]

https://www.fca.org.uk/publication/policy/ps20-10.pdf

UK prohibiting the sale to retail clients of investment products that reference cryptoassets.

Don't know if the UK ban is impacting the price action today. Hope other countries do not follow the UK's lead.

[pablo222]

According to him it was going to be worth ZERO by now.

[topgame85]

Can this hit 21k by year end?

[Wrongside]

Can this hit 21k by year end?

More like 21H.

[BeatTheJerk]

wtf ...

[BeatTheJerk]

Dear Btc Nice correction c o c k sucker ...

[Sam Odom]

16,850

[Optional]

I guess we won't be seeing that new ATH in November.

[DISTROYA]

how can any reasonable person use this as a form of payment for everyday purchases given its volatility?
You could be planning to put 5k down on a car payment with BTC and wake up with 1k+ gone or vice-versa, just doesnt make sense to me.

[pablo222]

Even with the pullback the last couple days, BTC up 23 percent in the last 30 days.

[eddycash]

exactly as planned, got my next moves already set

[icon]

how can any reasonable person use this as a form of payment for everyday purchases given its volatility?
You could be planning to put 5k down on a car payment with BTC and wake up with 1k+ gone or vice-versa, just doesnt make sense to me.

"Reasonable person" you hit the nail right on the head pal.

Its mostly people that are entrenched in bitcoin that keep pumping it and providing explanations for every setback or negative thing that happens.

"Bitcoin record drop in two days!" bitcoin fanatic = "this is exactly what we wanted"!!

Many people that use bitcoin just do so and are not in love with the coin.

My belief is that eventually bitcoin will be replaced with a better product and that will cause bitcoin to lose most if not all its value.

The worlds population is ~8billion. How can 21 million "coins" possibly serve everyone?


I like to gamble and since there are so many sheep that think that since a few billionaires and banks bought some they must be headed to some unimaginable valuation in a hurry they are perfect for speculating.


I'm definitely not a hodler though. I like the volatility and buy when sentiment is at it's lowest and sell when the pumpers are getting the "new generation" all hyped that they are going to be fabulously wealthy by hodling cryptos while playing Xbox.

It doesn't matter that there are a limited amount of Bitcoins. Market makers ( ie. investment banks) can issue as many contracts as they like and in doing so can control the supply of coins and manipulate prices. When it comes to investing (and gambling) money rolls uphill.


Fanatics can spout all of the decentralized utopian nonsense they like but the fact of the matter is that people and institutions with real wealth are not going to have their wealth usurped by the Twitter generation.

Making prudent investments is dependent on a person's individual financial situation. What may be a good investment for one may not be the best choice for another. To think that because some extravagantly wealthy dude bought something so that makes it a good buy for all is just foolish as we don't have a couple of billion in other investments should this not pan out as expected.


We have seen an unprecedented financial climate over the past 20 years or at least the past 12 or 13. You would have been hard pressed to make an investment in real estate or the stock market and actually lose money. Historically this is unprecedented and it seems clear to me that this trend is about to reverse itself. All things come to an end, even "good" things.


While a blind squirrel could have made money on pretty much anything over the past decade it takes a lot more savvy to profit during declining markets.

[Ghenghis Kahn]

LOL Bitcoin drops 10% and people freak out. SMFH

I've read all those threads and posts that said bitcoin was worthless, a Ponzi scheme, and it's heading to 0.

Guess what, BTC is here to stay, if you miss the boat, it's your loss.

Is there faster cryptos with better tech and scalability solved? Of course but doesn't matter, BTC is the king of cryptos.

[icon]

LOL Bitcoin drops 10% and people freak out. SMFH

I've read all those threads and posts that said bitcoin was worthless, a Ponzi scheme, and it's heading to 0.

Guess what, BTC is here to stay, if you miss the boat, it's your loss.

Is there faster cryptos with better tech and scalability solved? Of course but doesn't matter, BTC is the king of cryptos.

Bitcoin is here to stay, for now. What about 6 months from now? 6yrs? 10 yrs? 60 yrs?

Bitcoin isn't worthless, but it COULD be at some time in the future. To discount this possibility is foolish.

[Ghenghis Kahn]

Not gonna continue this conversation. If you really think the way you do, then just sell your Bitcoin and move on.

There have been many posters on SBR that said the same thing since 2012. They don't post about BTC being worthless anymore. They accepted their defeat.

[icon]

Not gonna continue this conversation.

Smartest thing you've said so far.

[raiders72001]

"Reasonable person" you hit the nail right on the head pal.

Its mostly people that are entrenched in bitcoin that keep pumping it and providing explanations for every setback or negative thing that happens.

"Bitcoin record drop in two days!" bitcoin fanatic = "this is exactly what we wanted"!!

Many people that use bitcoin just do so and are not in love with the coin.

My belief is that eventually bitcoin will be replaced with a better product and that will cause bitcoin to lose most if not all its value.

The worlds population is ~8billion. How can 21 million "coins" possibly serve everyone?


I like to gamble and since there are so many sheep that think that since a few billionaires and banks bought some they must be headed to some unimaginable valuation in a hurry they are perfect for speculating.


I'm definitely not a hodler though. I like the volatility and buy when sentiment is at it's lowest and sell when the pumpers are getting the "new generation" all hyped that they are going to be fabulously wealthy by hodling cryptos while playing Xbox.

It doesn't matter that there are a limited amount of Bitcoins. Market makers ( ie. investment banks) can issue as many contracts as they like and in doing so can control the supply of coins and manipulate prices. When it comes to investing (and gambling) money rolls uphill.


Fanatics can spout all of the decentralized utopian nonsense they like but the fact of the matter is that people and institutions with real wealth are not going to have their wealth usurped by the Twitter generation.

Making prudent investments is dependent on a person's individual financial situation. What may be a good investment for one may not be the best choice for another. To think that because some extravagantly wealthy dude bought something so that makes it a good buy for all is just foolish as we don't have a couple of billion in other investments should this not pan out as expected.


We have seen an unprecedented financial climate over the past 20 years or at least the past 12 or 13. You would have been hard pressed to make an investment in real estate or the stock market and actually lose money. Historically this is unprecedented and it seems clear to me that this trend is about to reverse itself. All things come to an end, even "good" things.


While a blind squirrel could have made money on pretty much anything over the past decade it takes a lot more savvy to profit during declining markets.

I disagree with a lot of the above. Those wanting a pull back are those that looked at previous bull runs where there were pull backs. Profits will be taken during the bull runs. It's not going to be a straight linear or exponential increase without bumps. Pull backs are needed in healthy markets.

Huge institutions and hedge funds are already involved in Bitcoin. There are futures markets. Being overleveraged will cause rocky roads.

[ace7550]

Bitcoin is here to stay, for now. What about 6 months from now? 6yrs? 10 yrs? 60 yrs?

Bitcoin isn't worthless, but it COULD be at some time in the future. To discount this possibility is foolish.

This is true for all currencies.

[StackinGreen]

This is true for all currencies.

The naysayers always harp on the nascent aspect of anything with value. Does it make it harder for BTC to gain traction? Of course. But that's why it might be the greatest investment or speculation in modern history = the entire point. At some point in history, gold, the US dollar, etc whatever unit of value you want to talk about had to jump through complex hurdles to get a spot at the big table.

In a world of socialist, global elite and bankrupt/indebted economic systems, the sanity of BTC and what I think is easily a top characteristic of it, portability, is unparalleled.

Game theory has begun.

[Arky]

$18096

Lookin' like back on track. Nothing wrong with a little sideways action for a while....

[Sam Odom]

December


..........

[JAKEPEAVY21]

$18096

Lookin' like back on track. Nothing wrong with a little sideways action for a while....

Dealing with the variance puts hair on your chest

[StackinGreen]

There is no stopping this. I don't know how many people I have told, "this will change your life" and mostly it's in 1 ear, out the other. If you've been around here long enough, you know what that means.

The world is going to change vastly in this decade, and likely just within 3 years time ...

Needless to say I've been increasing my position. The Thanksgiving/black friday dump was another gift.

[Allure]

Guys I bought Ripple and Iota quite a bit a few years ago. Haven't been following crypto since. Now that BTC is through the roofs again, is it worth keeping this Ripple and Iota stuff? There is always news about Ripple however I feel like it's just air and it has no potential. What do you think?

[StackinGreen]

I'd be mostly in BTC with some exposure to the others, but make that Ethereum more.

[Arky]

Guys I bought Ripple and Iota quite a bit a few years ago. Haven't been following crypto since. Now that BTC is through the roofs again, is it worth keeping this Ripple and Iota stuff? There is always news about Ripple however I feel like it's just air and it has no potential. What do you think?

I would sink no further money into Iota. How much it rises during this current market is anybody's guess. Sell all when you think it has peaked - that's what I'd do.

XRP I would do pretty much the same. Some rumors going on around about XRP have it moving up pretty quick. XRP's cousin, Stellar (XLM) also doing well.

If I was new to crypto, I'd put money into XRP before Iota.

[icon]

I disagree with a lot of the above. Those wanting a pull back are those that looked at previous bull runs where there were pull backs. Profits will be taken during the bull runs. It's not going to be a straight linear or exponential increase without bumps. Pull backs are needed in healthy markets.

Huge institutions and hedge funds are already involved in Bitcoin. There are futures markets. Being overleveraged will cause rocky roads.

To change my mind and consider that I'm wrong about Bitcoin, and that it's a good currency/investment, I would have to see some of the following:

- 2% or more of S&P 500 companies keeping their treasury cash in it (not one random company)

- 5% of Americans owning Bitcoin

- 1% of businesses accepting Bitcoin as payment

- 0.05% of contracts priced in Bitcoin (like my rent is 1 Bitcoin per year; I accept a salary of 10 Bitcoins a year...)

I don't think these are high thresholds.

Note that nowhere did I list random billionaires buying Bitcoin as a criteria.

I'm sure lots of billionaires bought tulips, junk tech stocks, junk sub prime or south American bonds too.

[ace7550]

To change my mind and consider that I'm wrong about Bitcoin, and that it's a good currency/investment, I would have to see some of the following:

- 2% or more of S&P 500 companies keeping their treasury cash in it (not one random company)

- 5% of Americans owning Bitcoin

- 1% of businesses accepting Bitcoin as payment

- 0.05% of contracts priced in Bitcoin (like my rent is 1 Bitcoin per year; I accept a salary of 10 Bitcoins a year...)

I don't think these are high thresholds.

Note that nowhere did I list random billionaires buying Bitcoin as a criteria.

I'm sure lots of billionaires bought tulips, junk tech stocks, junk sub prime or south American bonds too.