Bitcoin Price Tracking & Discussion -- 2020

[shadymcgrady]

HODLers rising

[ChuckyTheGoat]

Paid Opti, +580.

New contestant = Sam Odom.

Target = 30,000. If we touch 30k by Thurs 1159pm, +300. 2x +600, if we get there by Wed 1159pm.

Big hurdle, Sammy. Can u do it? Are u man enuf to do it?

[Sam Odom]

Old Sammy will pop some steroids

[boscokid]

Chucky is to Bitcoin as Hunt brothers were to silver. Moving the world market with only SBR posts!!

[StackinGreen]

Isn't it funny looking back at the naysayers while what we said would happened, did?




Now the bigger question for the 1Q 2021 ... does it ever go below $25k?

[JAKEPEAVY21]

Isn't it funny looking back at the naysayers while what we said would happened, did?




Now the bigger question for the 1Q 2021 ... does it ever go below $25k?

Almost 100% certainty.

[eddycash]

Maybe for a few days but it will be bought up so quick you'll miss it if you're busy doing something else.

[StackinGreen]

Almost 100% certainty.

How low do you say it goes Peavy

[Optional]

Paid Opti, +580.

New contestant = Sam Odom.

Target = 30,000. If we touch 30k by Thurs 1159pm, +300. 2x +600, if we get there by Wed 1159pm.

Big hurdle, Sammy. Can u do it? Are u man enuf to do it?

Thanks Chucky. Sent you some for your cause.

[raiders72001]

Three sure things. Death, taxes and bitcoin.

[Arky]

I'm starting to think Bitcoin is just too valuable to sell. Even a little. When things start peaking, I'll be looking to dump alts, first. Ethereum, I think, will be the next to hit an ATH....

[cincinnatikid513]

so happy i bought those hundreds of bitcoin's around 100 dollars each and transferred them to the sportsbook great decision there

[ChuckyTheGoat]

Thanks Chucky. Sent you some for your cause.

Thx, Opti. Will be sure to use it toward next Angelman donation.

[ChuckyTheGoat]

I'm starting to think Bitcoin is just too valuable to sell. Even a little. When things start peaking, I'll be looking to dump alts, first. Ethereum, I think, will be the next to hit an ATH....

Arky, can I ask u to speak on this concept of LIMITED SUPPLY? How do these OTHER alt-coins work on supply?

The way I see it, the BtC limited supply is a huge factor. I mentioned that SOME BtC are lost, some BtC are Hodl'd offline.

In the near-future, if everyone wants a piece of the pie, there's just not enuf to go around.

[asiagambler]

Limited supply means nothing. There are many other alts that are way more scarcer and no one knows or cares about them

What bitcoin has is the name recognition and the infrastructure already in place as a result of being the first of its kind. That's really the only reason that its market cap dwarfs all other cryptocurrencies

And why wouldn't there be enough to go around? 1 bitcoin can be denominated into 100 million satoshis. If my maths is correct, that means there will be 2.1 quadrillion satoshis in existence (actually slightly less) when mining is complete

If in the future, 1 btc is worth 1 million dollars, that just means most people won't own 1 btc

[Optional]

Limited supply means nothing. There are many other alts that are way more scarcer and no one knows or cares about them

What bitcoin has is the name recognition and the infrastructure already in place as a result of being the first of its kind. That's really the only reason that its market cap dwarfs all other cryptocurrencies

And why wouldn't there be enough to go around? 1 bitcoin can be denominated into 100 million satoshis. If my maths is correct, that means there will be 2.1 quadrillion satoshis in existence (actually slightly less) when mining is complete

If in the future, 1 btc is worth 1 million dollars, that just means most people won't own 1 btc

Are you saying the normal laws of supply & demand don't apply to crypto?

[raiders72001]

I'm starting to think Bitcoin is just too valuable to sell. Even a little. When things start peaking, I'll be looking to dump alts, first. Ethereum, I think, will be the next to hit an ATH....

That's one of the reasons I like ETH. It would have to double to hit it's ATH. Then there is ETH2 and staking is earning around 13%.

[milwaukee mike]

Limited supply means nothing. There are many other alts that are way more scarcer and no one knows or cares about them

What bitcoin has is the name recognition and the infrastructure already in place as a result of being the first of its kind. That's really the only reason that its market cap dwarfs all other cryptocurrencies

And why wouldn't there be enough to go around? 1 bitcoin can be denominated into 100 million satoshis. If my maths is correct, that means there will be 2.1 quadrillion satoshis in existence (actually slightly less) when mining is complete

If in the future, 1 btc is worth 1 million dollars, that just means most people won't own 1 btc

what if green dollars are worth only 5-10% of new orange dollars after the great reset?

there are a whole lot of possibilities in the future... and if you wait long enough dollars deteriorate to almost nothing anyway with inflation... a couple generations ago you were rich if you had $1000

[Arky]

Arky, can I ask u to speak on this concept of LIMITED SUPPLY? How do these OTHER alt-coins work on supply?

The way I see it, the BtC limited supply is a huge factor. I mentioned that SOME BtC are lost, some BtC are Hodl'd offline.

In the near-future, if everyone wants a piece of the pie, there's just not enuf to go around.

I don't know - not really my area of expertise. I think asiagambler had some good points. I know when you start digging around Coinmarketcap.com, a lot of these coins will have a "circulating supply" and a "max supply". Most are released over time so as not to effect price. EOS has built in inflation - the good kind of inflation. Bitcoin is mined.

I watched a 2 hour video of Michael Saylor (CEO of MicroStrategy Inc.) being interviewed by Raoul Pal the other day. He breaks down why he is investing millions of dollars into Bitcoin. He talks supply/demand, how he looked into precious metals, stocks/bonds, real estate, etc. and how he came to the conclusion that Bitcoin is the superior asset over all of them. Video should start where they begin talking up Bitcoin, a little over half way into the conversation. Worth a watch if you have nothing better to do.

So, if guys like him are seeing the light, I think there's going to be major fomo coming soon - not from the little guys but from the big guys and anyone else that is seeking to protect value and not have it whittled away over time....

The present economic system is broken, failing and being shot full of drugs to keep going. The elites/globalists are pulling off one last robbery of the system, IMO. Zooming out, Bitcoin, even with its volatility, is the only way to go. Talking long term, here, not just next year.

[StackinGreen]

The present economic system is broken, failing and being shot full of drugs to keep going. The elites/globalists are pulling off one last robbery of the system, IMO. Zooming out, Bitcoin, even with its volatility, is the only way to go. Talking long term, here, not just next year.

We are in this weird but sweet spot right now. Weird because it's so obvious that this is the most asymmetric trade in anyone's lifetime, yet many are balking because of price and a related phenomenon - they think they "missed out already." Or they think it's a ponzi, which of course it is not. It will be obvious after 2021 how easy of an investment this was, even for normies.

The sweet spot is knowing all of this and that so few will listen to you, and that even though ups and downs will occur, this is going larger ETF and paypal global, among other things.

In 2022 it will be 6 figures, easy.

[ChuckyTheGoat]

Thanks, Arky! I don't like the Rauol Pal videos. He tries to sell something every 5 minutes.

[ChuckyTheGoat]

what if green dollars are worth only 5-10% of new orange dollars after the great reset?

there are a whole lot of possibilities in the future... and if you wait long enough dollars deteriorate to almost nothing anyway with inflation... a couple generations ago you were rich if you had $1000

I think Mike hit on it. When u think about the BTC/USD ratio...what about the denominator?

At some point, the USD might be worth toilet paper. I'd be terrified to be stuck holding the bag full of worthless dollars.

[Arky]

Thanks, Arky! I don't like the Rauol Pal videos. He tries to sell something every 5 minutes.

Eheh, not in this one. He actually keeps kinda quiet in this one. Saylor doesn't lack the gift of gab....

[ChuckyTheGoat]

Eheh, not in this one. He actually keeps kinda quiet in this one. Saylor doesn't lack the gift of gab....

OK, thx, Arky, I'll watch it. I like what I've seen of Saylor. Yeah, he does seem to fill the camera time!

[ChuckyTheGoat]

Are you saying the normal laws of supply & demand don't apply to crypto?

I'll repeat my stance on BtC. This is 1st-semester economics stuff to me.

There are ~ 7Billion people on the planet. End-game Bitcoin count is supposed to be ~ 21Million. If some % of those people want to own just ONE full bitcoin, the supply is going to be pressed.

I agree w/ Opti. Normal laws of supply & demand. I don't over-think it.

[bitcoinLuke]

Had an ex text me today that she saw a post about Ethereum on Facebook and wanted to know if I knew what it was, or had any. (I was already into Bitcoin in 2016 when we broke up but she didn't know if they were the same or not), so the newbs are coming.

Almost 30k guys. 2021 gonna be a big year!

HODL

[bitcoinLuke]

I'll repeat my stance on BtC. This is 1st-semester economics stuff to me.

There are ~ 7Billion people on the planet. End-game Bitcoin count is supposed to be ~ 21Million. If some % of those people want to own just ONE full bitcoin, the supply is going to be pressed.

I agree w/ Opti. Normal laws of supply & demand. I don't over-think it.

This. Wait till BTC hits 100k and 7 bil people starting fighting over 18.5 mil Bitcoin.

[asiagambler]

Are you saying the normal laws of supply & demand don't apply to crypto?

Nope never said that. What Chucky is referring to is the finite amount of bitcoin that can ever be mined. I'm just saying that while it's finite, it's not really scarce

[asiagambler]

what if green dollars are worth only 5-10% of new orange dollars after the great reset?

there are a whole lot of possibilities in the future... and if you wait long enough dollars deteriorate to almost nothing anyway with inflation... a couple generations ago you were rich if you had $1000

Doesn't matter green dollars, orange dollars, zimbabwe dollars, that's not really the point, it's just whatever currency is used as a medium. Yes, I didn't take into account for inflation but it's also just an arbitrary point in the future

If you're saying that bitcoin will replace MMT then that's a whole different discussion

But let's be serious. No one in this thread actually gives a shit about bitcoin's fundamentals or lack thereof. We're all waiting for the right time to cash out and make money - or in other words, we still value the dollar

[asiagambler]

I'll repeat my stance on BtC. This is 1st-semester economics stuff to me.

There are ~ 7Billion people on the planet. End-game Bitcoin count is supposed to be ~ 21Million. If some % of those people want to own just ONE full bitcoin, the supply is going to be pressed.

I agree w/ Opti. Normal laws of supply & demand. I don't over-think it.

That's still very vague to me. It's not real demand if people just want it but can't afford it. Remember, demand isn't just wanting something, it's wanting something at a specific price point

[ChuckyTheGoat]

This. Wait till BTC hits 100k and 7 bil people starting fighting over 18.5 mil Bitcoin.

Hey, Luke. What's up, bro? Thanks for checking in. And happy 2021!

[Optional]

Nope never said that. What Chucky is referring to is the finite amount of bitcoin that can ever be mined. I'm just saying that while it's finite, it's not really scarce

Oh ok.

Sounds like you are thinking about it being infinitely divisible.

21 million bitcoin is still going to be only 21 million and each one of those should appreciate with more demand and less supply.

[raiders72001]

Think of it this way.

There are a total of 10,000 bitcoins beginning Jan1, 2021.
5,000 new bitcoins produced in 2021. There are now 15,000 bitcoins Jan 1, 2022.
2,500 new bitcoins produced in 2022. There are now 17,500 bitcoins Jan 1, 2023.
No more bitcoins are produced. The total stays at 17,500 bitcoins.
Does this have anything to do with the price? Personally, I'm unsure if it does or not.

[JAKEPEAVY21]

Happy New Year crypto crew!

What will bitcoin's high be in 2021?

[raiders72001]

Happy New Year crypto crew!

What will bitcoin's high be in 2021?

Happy New Year Jake!