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Re: Bitcoin clears 20k [Re: DecoyMacoy] #7379623
10/15/21 08:43 AM
10/15/21 08:43 AM
Joined: Dec 2006
Posts: 14,055
Rodney,Ohio
SNIPERB🦝 Offline OP
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SNIPERB🦝  Offline OP
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Joined: Dec 2006
Posts: 14,055
Rodney,Ohio
Originally Posted by DecoyMacoy
A futures based Bitcoin ETF doesn't even begin to budge my GAFmeter.

Reminder: With a small amount of education/work Bitcoin is extremely easy to self custody in a manner that even a State actor/military would have a tough time confiscating from you. Few understand this. Even fewer understand the implications.

It does drive speculation though, which is possibly behind part of the rise though it's been on a slow rise again basically since the IRS reporting thing was proposed and before that

Last edited by SNIPERB🦝; 10/15/21 09:19 AM.
Re: Bitcoin clears 20k [Re: SNIPERB🦝] #7379658
10/15/21 09:20 AM
10/15/21 09:20 AM
Joined: Dec 2006
Posts: 14,055
Rodney,Ohio
SNIPERB🦝 Offline OP
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SNIPERB🦝  Offline OP
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Joined: Dec 2006
Posts: 14,055
Rodney,Ohio
60k cleared.

Re: Bitcoin clears 20k [Re: SNIPERB🦝] #7379965
10/15/21 07:20 PM
10/15/21 07:20 PM
Joined: May 2010
Posts: 8,265
mn north of blakely
S
Steven 49er Offline
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Steven 49er  Offline
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Joined: May 2010
Posts: 8,265
mn north of blakely
Almost 63,000 at one time this afternoon.

What do you think Sniper, is it going to set a new high?

If the dollar starts to weaken as it should it will blow through a hundred thousand.

Re: Bitcoin clears 20k [Re: Steven 49er] #7379981
10/15/21 07:37 PM
10/15/21 07:37 PM
Joined: Dec 2006
Posts: 14,055
Rodney,Ohio
SNIPERB🦝 Offline OP
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SNIPERB🦝  Offline OP
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Rodney,Ohio
Originally Posted by Steven 49er
Almost 63,000 at one time this afternoon.

What do you think Sniper, is it going to set a new high?

If the dollar starts to weaken as it should it will blow through a hundred thousand.

All time high is 64,899, Id take even odds bets on it breaking 80k by end of the year.

Wouldnt be surprised if we got over 100k by then

Re: Bitcoin clears 20k [Re: SNIPERB🦝] #7380163
10/16/21 01:18 AM
10/16/21 01:18 AM
Joined: Jan 2008
Posts: 3,057
M.T.V. Alaska
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yukonjeff Offline
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M.T.V. Alaska
Bitcoin is designed to replace the US dollar . I would bet this is George Soros at work buying it up in an attempt to get others to follow to crash the dollar.

Those that are investing in it are helping replace the US dollar as the global currency.

After China banned Bitcoin mining and trading, The US has now taken the lead as the biggest Bitcoin mining hub.

Last August the US was responsible for just 4% of the worlds Bitcoin mining activity, Its now over 35%. But since mining for Bitcoin uses so much energy you can probably look forward to Biden putting the brakes on it for environmental reasons. I would not want to be holding it when that happens.

Re: Bitcoin clears 20k [Re: SNIPERB🦝] #7380177
10/16/21 04:11 AM
10/16/21 04:11 AM
Joined: Dec 2006
Posts: 14,055
Rodney,Ohio
SNIPERB🦝 Offline OP
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SNIPERB🦝  Offline OP
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Rodney,Ohio
You cant mine Bitcoin on expensive energy, the profit isnt there. The miners run when power is cheap,ie at night, not during peak times.

Re: Bitcoin clears 20k [Re: SNIPERB🦝] #7380185
10/16/21 04:51 AM
10/16/21 04:51 AM
Joined: May 2010
Posts: 8,265
mn north of blakely
S
Steven 49er Offline
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Steven 49er  Offline
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mn north of blakely
In light of the irresponsible inflating of the US currency in the last 50 years, something will eventually take it's place.

I'd prefer a gold standard.

Re: Bitcoin clears 20k [Re: SNIPERB🦝] #7380189
10/16/21 05:17 AM
10/16/21 05:17 AM
Joined: Dec 2006
Posts: 14,055
Rodney,Ohio
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SNIPERB🦝  Offline OP
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Rodney,Ohio
There is a D-USD coming .

Re: Bitcoin clears 20k [Re: SNIPERB🦝] #7380213
10/16/21 06:09 AM
10/16/21 06:09 AM
Joined: Feb 2014
Posts: 8,273
Ky
J
jbyrd63 Offline
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jbyrd63  Offline
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Joined: Feb 2014
Posts: 8,273
Ky
Yep part of the prophecy before the rapture no currency ! Plagues Just saying

Re: Bitcoin clears 20k [Re: Steven 49er] #7380214
10/16/21 06:09 AM
10/16/21 06:09 AM
Joined: Jul 2016
Posts: 274
NE Wisconsin
DecoyMacoy Offline
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NE Wisconsin
Originally Posted by Steven 49er
In light of the irresponsible inflating of the US currency in the last 50 years, something will eventually take it's place.

I'd prefer a gold standard.


Failed every time its been tried. What will be different this time?

Gold requires too much trust that the institutions holding the gold (which backs the currency) are fully reserved.

With Bitcoin we're past needing trusted third parties to store our wealth and dish us out useless IOUs

Re: Bitcoin clears 20k [Re: SNIPERB🦝] #7380250
10/16/21 07:15 AM
10/16/21 07:15 AM
Joined: May 2010
Posts: 8,265
mn north of blakely
S
Steven 49er Offline
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Steven 49er  Offline
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Joined: May 2010
Posts: 8,265
mn north of blakely
I still prefer gold. It always was and always will be. Don't confuse my last statement as being anti Bitcoin.

Jbyrd let's keep that rapture nonsense off this discussion. Regardless of what you looks may think it's still the best time for the average human to be alive in history.

Re: Bitcoin clears 20k [Re: yukonjeff] #7380271
10/16/21 07:39 AM
10/16/21 07:39 AM
Joined: Feb 2021
Posts: 4
Texas
T
Texas21 Offline
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Texas
Originally Posted by yukonjeff
Bitcoin is designed to replace the US dollar . I would bet this is George Soros at work buying it up in an attempt to get others to follow to crash the dollar.

Those that are investing in it are helping replace the US dollar as the global currency.

After China banned Bitcoin mining and trading, The US has now taken the lead as the biggest Bitcoin mining hub.

Last August the US was responsible for just 4% of the worlds Bitcoin mining activity, Its now over 35%. But since mining for Bitcoin uses so much energy you can probably look forward to Biden putting the brakes on it for environmental reasons. I would not want to be holding it when that happens.



Bitcoin layer 1 wasn’t designed, or is even capable of replacing the US dollar. Layer 2 or 3 options is where things get interesting, though El Salvador has shown there’s still lots of work to be done.

Re: Bitcoin clears 20k [Re: SNIPERB🦝] #7383617
10/20/21 09:53 AM
10/20/21 09:53 AM
Joined: Dec 2006
Posts: 14,055
Rodney,Ohio
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Rodney,Ohio
66k, all time high

Re: Bitcoin clears 20k [Re: SNIPERB🦝] #7383762
10/20/21 12:40 PM
10/20/21 12:40 PM
Joined: May 2010
Posts: 8,265
mn north of blakely
S
Steven 49er Offline
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Steven 49er  Offline
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Posts: 8,265
mn north of blakely
Wait! What?

It cannot be so, not for all the reports of its demise.

Re: Bitcoin clears 20k [Re: SNIPERB🦝] #7383885
10/20/21 03:45 PM
10/20/21 03:45 PM
Joined: Aug 2011
Posts: 33,665
james bay frontierOnt.
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Boco Offline
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james bay frontierOnt.
Bitcoin is useless it has no value.You cant eat it nor will it keep you warm.
I like made beaver or made marten.At least they will keep you warm and that value will rise when all the power goes out after the nuclear blasts..

Last edited by Boco; 10/20/21 03:47 PM.
Re: Bitcoin clears 20k [Re: SNIPERB🦝] #7383945
10/20/21 05:18 PM
10/20/21 05:18 PM
Joined: Dec 2006
Posts: 14,055
Rodney,Ohio
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Rodney,Ohio
Can't eat your 401k or pension either.

Re: Bitcoin clears 20k [Re: SNIPERB🦝] #7383950
10/20/21 05:21 PM
10/20/21 05:21 PM
Joined: Aug 2011
Posts: 33,665
james bay frontierOnt.
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Boco Offline
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james bay frontierOnt.
Originally Posted by SNIPERB🦝
Can't eat your 401k or pension either.


Exactly the same house of cards.Those who have stuff and or skills to barter will be fine.
Those hoarding useless paper or numbers on computers will be screwed blued and tattooed.

Last edited by Boco; 10/20/21 05:23 PM.
Re: Bitcoin clears 20k [Re: SNIPERB🦝] #7383958
10/20/21 05:27 PM
10/20/21 05:27 PM
Joined: Apr 2010
Posts: 3,080
Ohio
S
stinkypete Online content
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Joined: Apr 2010
Posts: 3,080
Ohio
Ah actually you can borrow against your 401k. So in reality yes. I could feed myself quite well on my 401k. Pay for an education. Etc.... Just saying. But not knocking BitCoin. Glad you hit a high on it. Just not for me

Re: Bitcoin clears 20k [Re: SNIPERB🦝] #7383966
10/20/21 05:33 PM
10/20/21 05:33 PM
Joined: Dec 2006
Posts: 14,055
Rodney,Ohio
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Rodney,Ohio
Not in bocos scenario

Re: Bitcoin clears 20k [Re: Boco] #7384028
10/20/21 06:35 PM
10/20/21 06:35 PM
Joined: Dec 2006
Posts: 14,055
Rodney,Ohio
SNIPERB🦝 Offline OP
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SNIPERB🦝  Offline OP
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Posts: 14,055
Rodney,Ohio
Originally Posted by Boco
Originally Posted by SNIPERB🦝
Can't eat your 401k or pension either.


Exactly the same house of cards.Those who have stuff and or skills to barter will be fine.
Those hoarding useless paper or numbers on computers will be screwed blued and tattooed.

Thats why you diversify.

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