Bitcoin over 100k

Discussion in 'Crypto Assets' started by GlobalMacro90, Dec 5, 2024.

  1. 20% of nothing lol when you factor in how much your fiat is depreciating against bitcoin. Either you hold bitcoin, bitcoin etfs, or bitcoin tracking stocks or be left behind.

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    So your $1 is now worth .85 cents as fiat, and 275k as bitcoin.
     
    #91     Dec 15, 2024
    semperfrosty likes this.
  2. No.
    I don't know where people get these bonkers ideas.

    Get this guys:
    The Mona Lisa will be worthless because it's not Bitcoin!:rolleyes:

    The dollar could fall 90% but that does not mean that the value of a company that just happens to be priced in dollars is going to fall 90%. If they have the ability to provide something people need, that protects the value.

    Consider an oil company with rights to 2% of the proven oil reserves worldwide. The currency that company is traded in might crash, but that doesn't mean the company is going to be sold off for nothing.
    Oil is still worth money. They may halt trading to figure things out, but somewhere on the planet there is a buyer for that oil.

    The logic here is ridiculous. It's like showing up and saying "well, you bought your private island in Mexico 30 years ago for $10 million pesos (something like $2m dollars in 1994) and the value of the peso has collapsed, so I'll offer you $100k USD today.

    I'll try to lay this out really simply:
    There are other investments in this world that exist besides memecoins and stacks of USD bills.
    These other investments oftens have something called "fundamentals" that are the primary driver of their value.

    Pointing at a chart of US inflation and claiming it must apply to whatever I invest in just because I made the purchase in USD is silly. You are making a fool of yourself.
     
    #92     Dec 16, 2024
  3. ?? Relative to bitcoin it IS becoming worthless.

    upload_2024-12-16_0-35-47.png
     
    Last edited: Dec 16, 2024
    #93     Dec 16, 2024
    semperfrosty likes this.
  4. And everything is relative.
     
    #94     Dec 16, 2024
    johnarb likes this.