Crypto Sold my house and put it all into bitcoin.

Just in case anyone IS interested, in learning, here's one resource that will have you tied up in browser tabs after a while:
Getting Started with Bitcoin

The history of its creation is extremely fascinating as well, the time it happened, how it happened, and what happened afterwards. Posts from the early days of the Bitcoin Talk forum are fun to read (especially since those here I assume like/love forums).

Here's the actual famous Pizza post: Pizza for bitcoins?
Satoshi's account: View the profile of satoshi
Hal Finney's story (recipient of the first transaction): Bitcoin and me (Hal Finney)
Someone seems to have logged into Hal's account after he died which is a bit spooky.

Even for those not taking part, it's undeniably found its way into our online culture and obviously interesting to those in this thread at least to talk and learn about.

 

@Ronen relax buddy, your position is pretty clear. Those of us who have been in the space for a while just can't be bothered debating a stranger on a forum, about your assertions that have been debunked countless times.

Just like in most other markets, bears make money, bulls make money, arguing either way won't make a difference to the price and where it's going to go. Whether you like it or not, it's here to stay because of precisely the belief in it by most of the millenial and gen Z population.

You don't have to believe in crypto or BTC, the reality is that there are thousands of companies, employing tens of thousands of employees that exists because of Bitcoin and blockchain technology, and are working in growing that space.

Please go and tell the CEO's and employees in these companies that crypto is worthless, and tell us how it goes

 

Just do it the same way backs do it, press a button on a computer and viola !

Really, our money systems have plenty of similar things now & can be created from thin air.

Housing is no different either, because of above, housing has gone up, as they unwind the computer score, housing will come down. Only thing is it's physical value in the house, and what people determine the land is worth. But all people understand physical things, especially if they keep you warm and dry.

 

But you have been commenting on bitcoin for a long time. Why didnt you get in back then?
Plenty of people were saying similar arguments in this thread when bitcoin was like $500.
The arguments against bitcoin have not changed, except maybe that the price is overinflated.

 

Do you think the price will go up?

 

I predict Bitcoin price swings like my mood.

 

The swings are less each boom bust

 

Amazing how people don’t see the current currency system is just one big Ponzi backed by nothing!

 

What about btc going from 70k to 19k at present? Is that just part of a normal market cycle? Or do you agree there are also players behind the scenes manipulating price for their own agenda?

Personally I believe all assets and financial commodities are subject to market player manipulation and interference by big traders, banks, governmens etc. Basically you just choose your poison which you believe has the most fundamental value/demand where market player/government manipulation won't kill your position/investment long term.

 

A “normal” market cycle for btc is a 85% correction which would give you a $10.5k bitcoin price.
Bitcoin is only able to be manipulated if people don’t take possession and control their own keys to prevent exchanges being able to create “paper” bitcoin.

 

I don't know too many people who would be comfortable with a 85% draw down....psychologically (and financially) that would decimate the most disciplined investors imho.

Btc is like any other market stock. It can be bought and sold in large amounts by anyone, unless I'm mistaken. That would mean its subject to the same market manipulation as every thing else on the market. Otherwise, that would mean that the recent massive 'correction' btc just had, around 73% would mean that btc holders believed it was 73% over valued so they started to sell in panic. Is that the likely case? Or, is it more likely that market makers of btc pumped it up enough to make massive profits and then let it crash?

No crystal ball here. My understanding could also be wrong but the latter just makes a lot more sense to me, especially knowing how all stockmarkets are manipulated in the same way with different flavours and appearances.

 

If bitcoin is your solution, you're asking the wrong question

 

Bitcoin is unlike any other market stock as people can take self ownership and in doing so it’s cryptographically provable that there aren’t any paper bitcoin artificially inflating the supply.
Amazon has endured multiple 80% price corrections! It’s nothing new.

 

Not sure what you mean? I wasn’t asking a question

 

I'm not suggesting anything is new. Only that the btc market is also manipulated/impacted by big market players like all instruments on the open markets are and is not in any way excluded or protected from those forces/agendas.

 

The last listed company paper share certificate I received was about 20 years ago. 15 years ago my bank sent me a letter saying my paper property tittles where worthless they were going to burn them, unless I requested that they be sent to me. I also had tittles released from banks since then and received no paper title.