In USD terms sure. With BTC as the unit of account (use scatcoin/BTC rather than scatcoin/USD) you might see some short term gainz but they all grind lower eventually. You could take a look at the charts of all the ICO token/ next bitcoin/ faster/cheaper lol/blockchain governance/ buzzword nonsense coins from 2016/2017 to see where all the hot 2020/2021 "De-Fi" coins could (will) go. Good luck to you either way. If your only in the Bitcoin space for USD gains then that's great and much respect admitting it.

I was only commenting that Tesla purchases some, also they are considering using it as a form of payment. The more mainstream it becomes the higher it will go.

Mine was just commenting on how big bitcoin is and how big of a purchase that was.

If curious in BTC terms---- Tesla bought roughly about 40k Bitcoin and with a total circulating supply of about 18.6 million Bitcoin that exist today so therefor they bought about .2% of the existing supply.

Will it break 50,000 this week?

It might crack it, question is for how long? Really depends on how long the dust takes to settle over Tesla's purchase. Coinbase reports that,atm, 60% of its accounts increased positions vs sold in the last 24hrs. Of course that's just over CB, not including other exchanges.

How 'bout the guy that bet 1 Bitcoin against the same FACE VALUE of silver coin on yesterday's Stupid Bowl . . . and lost? . . . wonder how much the silver coinage will weigh?. I think it'll take him time to gather that much up HA! . . . and yes, he's good for it. :-)

How much will the silver weigh?

For easy math say 1500 ounces at the bitcoin price at the moment, realistically it would be a few less ounces. So 125 troy pounds or 94 avoirdupois pounds

The catch here is that the silver Value is greater than the weight or face value. e.g. 10 silver dimes = $1.00 . The silver value is = $19.98 :-)

I overlooked that part. Industry standard is .715 ounces in 1 dollar face of 90 percent coins.

That would equate to a ton of silver. Literally

Yup, anything that is approx. 20x it's face value is a decent % increase . . . AND something you can actually "hold" :-)

$49,000 has been breached. Next stop $50,000.

Came close today, within 300 dollars. Probably will happen in the next few days. Now that Congress has to do something else besides impeachment trials now.

Bitcoin hit 50645 around midnight last night down to 49500 atm

over $150,000 by year end

So my question is if it is going to crash? I don't understand why cryptocurrency is worth anything.

There's always the possibility of a crash. But that would pretty much have to be the result of all government banning the use of cryptos. It's seen as a hedge against inflation.

Sounds like an easy retirement plan... except its not backed by anything?

I just read some research into "bubbles".

The bottom line of the research going back to 1926 is as follows;

Any asset class that has increased by 100% or more in the last two years.....compared to the overall market..................has an 80% chance of a 40% decline in the next two years. Seems to me that BTC is up over a thousand percent in the past two years.


Sniper: if you think BTC is a hedge against inflation ( not saying it isn't ) then what does that say about the relationship between BTC & AU ?? One would think their movements would be strongly correlated.

I think if I had invested years ago, I would be cashing out right now before the fall