Isn't that what Elon Musk and DOGE are doing? Eliminating government waste, making government more efficient, protecting the dollar.
If you pay attention to what they say, it is hilarious. - I never said that I hate Bitcoin, quite the contrary, I have been always waiting for Bitcoin to succed and dethrone the actual financial system, but for that you need Bitcoin to be affordable and cheap. That would help for mass adoption. They are speculators, so they get really worried when Bitcoin drops in price, they don't want Bitcoin to succeed, they want to get richer. - I live in a country where healthcare is free, I don't need to complain about healthcare. Noah is one of the shitiest heads on this forum, he's got that narrative so deep in his core that he vomits the same arguments to everyone regardless of who they are.
Very shocking to hear. If this isn't good enough for some people.... then I don't know what is. Ethereum was down to just triple-digits at the start for example.
What most people in podcasts say is waht what is necessary to make bitcoin the dominant player in transactions is that it needs to massively grow in market cap. Companies need to be able to move billions of dollars of value without affecting price too much. When you look at the currency markets, the liquidity is immense. Bitcoin therefore likely needs to 10x before you can see it used for settlements by large corporations and governments. This of course isn't a problem, to grow in market cap, and once more people realize the value of final settlement, no debasement, and no risk of confiscation, it will be clear that its the best form of money. But this is likely at much higher than $1M per coin. So what bitcoin needs is to grow bigger, and the bigger it grows, the more money it sucks in, and the more financial premium it takes away from other assets. It will get to the point where holding Bitcoin will be seen as the pristine asset and not US treasuries. You therefore have it backwards.
I wanted a 20x from the lows in less than a year. I would have even taken the 4k low from Covid to the 69k high. But so far, its not even a 10x from the 16k low. And this is with major institutional adoption. When you think about it, the pension guys and big fund guys have way more money than the retail traders, so its kind of sad that we haven't seen the explosive gains. I have no doubt that the omega candle is coming, but we likely need a major shock to the system or some sort of announcement. Obviously this will be a very fast event so you need to be positioned before hand, which thankfully I am, but I am growing impatient plus worried about a crash before the pump.
"But I just don't know the sequence of events that gets us to a bitcoin standard." meaning the entire world uses one single currency say Bitcoin... correct? just the way Euro was introduced by abolishing other Eu currencies but what are the chances? until then lot of hot air , majority still eats, farts, sheets and fxxx real currency backed by asset and credit ability of actual government/ nations, Bit coin , shit coin , dog coin whatever is a nice speculative vehicle, exchanges love new products as long as people trade and the revenue increases.... carry on
The last Dalio interview I watched, he states given the choice, he would prefer gold over Bitcoin still at this time. I don't blame him. Gold made him a pretty fortune during TGFC.
A retracement is a possibility at anytime. Sounds like your accumulating regularly like myself so its just a matter of accepting a discount on our accumulation. The timing cant be pinpointed,but I have said on here before that once the big money is involved,they keep things rangebound long enough for you to take your eye off the ball.Small sharp drop and then a rocket to the next level up,in the blink of an eye.And the process repeats. What they will encounter with BTC is that eventual supply shock.There wont be a stock split or a new metal deposit discovered.Its a new playbook which may surprise them.
Im not sure that thats the meaning of it. More that BTC as the hardest money becomes the one against which all the others are measured. Similar to how USD is the measuring stick today.
Actually, it is the bitcoin haters who do not listen, and choose to have uninformed beliefs We've been telling you for years that bitcoin will become very valuable, long before corporations, central banks, Larry Fink, Paul Tudor Jones, Goldman Sachs, Tim Cook, Saylor, nation states, Morgan Stanley, and on and on