Crypto 100k Bitcoin in next 3 years.

funny how this thread is a flurry of activity during rallies and deathly silent when doing anything but

 

it usually called
Extraordinary Popular Delusions and the Madness of Crowds

 

We're too busy using our Bitcoins in numerous useful ways to comment.

 

that and a bit of cognitive dissonance mixed in with pure greed. dangerous stuff when unleashed on the ignorant. the entire crypto industry continues to thrive off it.

oh wait, but Lightning will fix this

 

The same thing happens to property chat during booms and busts as well, albeit not in such an extreme fashion.

You can poo poo Bitcoin all you like. You're wasting your time. The fact that it's over 13k right now would indicate to me that there's a market for a product like this.

Whether it's Bitcoin or something else in the future is anyone's guess...but it would appear that the concept at least is here to stay.

 

well! you've gone and done it now! I have totally changed my mind. that 13k figure must be based on real buyers and not a handful of bagholders/miners who have to sell millions of BTC each day to continue this idiotic ponzi. Hallelujah, i have seen the light!

 

Honestly, what good does sitting there mocking bitcoin make? Plenty of people have made money or have decided that it is worth the risk to have some money in bitcoin for the potential huge upside.

I feel like every other topic on this forum is approached openly and people seem to want to understand why others have chosen the investment journey they have, however once the topic turns to bitcoin or crypto in general it is just mocked rather than a constructive conversation, it is super frustrating for people like me who are genuinely curious about why others have chosen to invest in bitcoin.

 

because when you investigate it you come to the conclusion it is a scam.

You are either in on it or a potential victim. Some people have a lot to gain perpetuating all the pro crypto arguments. They don't take well to having their motives questioned. Now I sign off with the classic crypto shill disclaimer of do your own research

 

also. I own Bitcoin. not because i believe in it but as insurance in case it goes and gets pumped to the moon. It is a gamble and I am prepared to lose my entire investment. I do not consider it a respetable asset class because it isn't

 

That's probably because gambling on BTC is like having a bet on number 66 in race 6 at Randwick. Neither are investing and it is duplicitous to suggest otherwise.

 

Clearly you guys were not around when BTC was in the double digits.

Whatever your reason to hold it or not hold it, whether you think it's a scam, or gambling I would argue it is worth holding, even if just for the moon scenario. I remember when the thing was under AUD$100 and let me tell you: over $10K was not conceivable back then. I think anyone who would have put $1k in there at that time couldn't care less now whether you guys think it's a scam, gambling or otherwise.

Also, there is lots to be said about "investing" in micro cap stocks despite it being regarded as proper investing. There is speculation everywhere, whenever money is involved. Of course the more marginal you get, the higher the risk, and so the reward. Cryptos are very marginal, no one is disputing that. But it's also a lot less than it's been.

There is really little more to say: I mean if you believe it's trash and want nothing to do with it, no problems, all good. If you believe it's worth holding some as potential future development, then great.

 

actually, there are alot of people who do dispute this. They misrepresent it as "digital gold" and "sound money"

 

How sure are you of this? Many read the paper and dismissed it as hogwash from the get go

 

Given the average level of knowledge of people who know about crypto, I don’t think “many” have read the paper, especially from the get go. But they must be some, of course. Still these people who heard about it from the get go and left it aside must be feeling pretty silly not having taken part into it, given the gains to date.

Anyway, I have no intention or interest in endlessly discussing this topic. I get it, you have your opinion and I have mine, it’s cool.

 

That is true, actually. Plenty of those YouTube channels crazies with these kinds of talk.
I think that we can reasonably expect anyone on this forum right here has a more level headed approach to these things though and see them as the marginal investment/thing/speculation they are at present.

Still does not mean it’s not worth a look into.
Anyway moving on

 

Alot of people pooh-poohed buying technology stocks in the 90s before they went parabolic, gold at US$250 per ounce, Sydney property before its most recent boom, etc. Asset bubbles inflate all the time. Some of them have intrinsic value, are more difficult to manipulate and don't rely on incessant shilling by underwater bagholders hoping to break even or hopefully moon lambo by sucking the unsuspecting into their grand ponzi.