John, I gotta say, its so obvious now why Bitcoin has so much room to run. Genuinely smart people just don't get it. They are blind to the fiat scam, and they are blind to what the government is doing. In my every day life, I constantly see people who are struggling just to stay afloat, or who are doing well at the expense of the taxpayer, and none of them have any idea about why they are either doing so badly, or why they are so privileged, and how that can be taken away in an instant. I of course realize that Bitcoin isn't guaranteed to win, but its just crazy to see people who are genuinely struggling with the current system, but fight you about the solution. The sad thing is that most people want to be slaves, and this is actually the scary part. They think the stimulus from the government is free, and then complain about how they can't afford food or shelter, and insist on more "government help". Are the tyrants in the government to blame, or the stupid minions who obey?
The sad thing is, as history progresses along, humans are seeing their freedoms being chipped away, slowly, slowly....
The reason you think like that is because you are brainwashed and will never escape the fiat debt-based slavery monetary system Like many bitcoiners, I am greedy for the scarcest asset, which is time, my time, the freedom to spend my time however I want, with the people closest to me You are greedy to earn more fiat, wanting more and more fiat. You are a slave, a prisoner in a fiat system that has no physical bars We are not the same 1 bitcoin will be worth $2-5M in my lifetime. It is more than enough for me. I do not need a Lambo, nor a yacht, nor an expensive watch I do need time for spending with family and friends. That is far more valuable to me 1 bitcoin will be worth over $10M in my children's lifetime and that should be enough and will teach them the importance of scarce assets like bitcoin and their own time The other bitcoins will be for future generations
John, you and I are not even in the same league. I am a short-term trader and you are (truth be told, I don't even know what you are exactly), so let's not be so damn pretentious about each other's wealth status. Those who boasts about one's wealth never impressed me and you don't either. Anyway, I think it's high time we go our separate ways and stick to what we know best. I plan to keep my pledge to Noah that I will stay out of all things crypto, so this will be my final reply to you (unless you wanna talk about other things). As always, good luck!
You listed the 2 extremes of the society that are not able to escape the fiat matrix The irony is that the latter (high earners, or hnw) is trapped by the golden handcuffs which are invisible to almost everyone, not the group members themselves, nor the outsiders that look up to them And the ones in the middle choose to focus on living, they do not dare look out the window of the fiat prison And through it all, there are a ton of distractions and noises, wars, politics red vs blue vs right wingers vs liberals vs conservatives vs Trump vs Biden vs, breakdown of society as we're seeing now mob looting of businesses, open borders immigrants taking over properties, social issues over genders, climate, The odds are massively stacked against all of them to see that Bitcoin is a life raft, an escape... Credit to @TheBTCTherapist on Twitter (below): Look at the post above. Let's say you are a hnw or high earner of your trading, you are still a brainwashed slave of the fiat debt-based monetary slave system. (I do not include the uhnw - there are some on ET, or the political powers or the elites, they are the rulers) We are not the same
I saw just this video today. Its amazing how grim the picture is for native born Americans. Job losses like crazy, all went to the illegal immigrants because they will work for less. The even worse stat from the video is 2 trillion USD deficit to get exactly zero full time jobs. This is what I was trying to say earlier that goes everyone's head. The government needs to spend this much money for barely any sign of where its going. Its like running on a treadmill that is speeding up, but clearly, you aren't getting anywhere. The money is spent just to plug the holes on a sinking ship, never mind any real improvements. I know that people think the past 15 years have gone somewhat smoothly, and hence nobody thinks anything will change in this decade. But if you're going $2T into deficit with nothing to show for it, imagine what happens when that stops. Of course it won't stop, and of course there is no way to pay for it, even with more debt. From what I've learned about all the different BTC cycles, and the fact that price always runs higher after the halving, the one stat that isn't the same is that the halving always happened at much lower prices in relation to the ATH. This time around, we already poked it. So I think there is a good chance the cycle theory is broken, but I can't guess yet how it plays out. I think its likely that we don't even hit 100k because everything will crash around us, or we go to 1M much faster, and don't have the 80% drawdown. At $1M BTC, I think enough of the world will know about bitcoin, and enough countries will be fed up with the US and USD. People laugh when we call for bitcoin hitting $1M, but I'm also supposed to believe the experts that USD will be around for another 2 decades at least??? That nobody will dethrone it? That everyone wants to keep using it? This higher dollar is wrecking Japan as we speak, and from what I read, China is finished as well. There aren't going to be positive quarters going forward. I think the "gradually" part is playing out and almost finished, and the "suddenly" part is going to happen faster than we think. I just don't see this as another normal market cycle, even tough its my first one. I really do feel like there isn't any more time. The officials can't keep this going for another 4 years.
I'm an avid follower of Peter and I watch most of his videos, this one I saw yesterday Peter is following me on Twitter, even though I've rarely posted anything, all I do is click like on posts that I think are good and his Twitter postings are very good so I click most of them --------- This cycle is different than previous cycles as bitcoin actually went lower than previous ath of previous cycle The low for the 2014-16 bear market was ~$150, ath was $1,200 ($1400 on some exchanges) The low for the 2017-19 bear market was ~$3,200, ath was $20,000 (or a little lower) The low for the 2022-23 bear market was ~$14,500, ath was $69,xxx The low was breached due to relentless selling from the liquidations caused by unwinding and bankruptcies of FTX, BlockFi, Celsius, Voyager, Genesis, and all the leveraged traders and scared off holders The high might have been suppressed by straight out bad actors like FTX selling bitcoins they do not own, and the leveraged TradFi big traders, like 3AC, all the TradFi arbitrage "delta-neutral" hedged players, Celsius, Genesis, BlockFi Our interest is on the previous ath, if the actual top from previous cycle was $150k (wag), then btc trading at $60k right before the halving is about right, and the top for this cycle could be $400k-700k Bitcoin never had this Wall Street money flow buyer, bitcoin spot etf's, in past cycles, and now HK also has it, during the time the Fed is about to embark on another massive printing of money... $1M/btc is not impossible during this cycle I am very excited for this halving. I think there are a lot of (new) investors waiting to buy more or buy for the first time, after the halving is completed successfully Very reasonable that they think there could be a risk of a technical problem with the Bitcoin halving process I also had the same doubts in the past halving, but later on read what other OG bitcoiners have said and even shown the code section on the halving, that the code is already finished and is running now.... it is only waiting for the blockheight to be reached Every 10 minutes (when a block is mined), the whole bitcoin supply is being audited and updated at the same time It starts with the mempool transactions that are about to be confirmed on the block this is why parameter settings like RBF (replace by fee) is an important flag as there is technically 2 mempool transactions that are in conflict and about to execute a double-spend attack on the Bitcoin circulating supply and only 1 of them can be included by the miner or it will be rejected and the miner possibly losing the block to another miner even if the hash met the target difficulty tl;dr, Bitcoin monetary supply is audited every ~10 minutes, the Fed has never been audited Touched a nerve, how about I boast of how poor I am, I own zero real estate, renters even now, I do not own a fancy car, no gold chains (only inherited ones stored in a safe), my wedding band is silver, I have not bought a pair of shoes in over a year, the most expensive shoes I've ever owned cost about $100, never owned a suit, don't even have a coat now, but I did in the past for special occasions like funerals or weddings, last pair of buttoned down shirt I bought was over 5 years ago, never paid more than $100, pairs of pants purchased recently was less than $35 each, my cell phone is over 3 years old Android, I don't own an expensive watch, only a smart watch, I like to wear shirts with a collar, wife buys them online she finds good sales, A&F or Lacoste type, I tell her don't pay more than $75, my laptop is over 2 years old, my desktop (nuc) is over 4 years old, I have no gaming console, I do have an ultra-wide 49" monitor, good for shitposting on ET, I also wish you the best!
This is one of the amazing things about BTC. Once you 'get it',you second guess and often avoid purchasing anything that is diverting funds from your BTC purchasing power.