If every company in the S&p buys bitcoin we could see s&p 100k in 3 yrs!

wxytrader · Oct 10, 2024

NoahA said:
Everyone who gets into bitcoin is unhappy about the distribution and the price they are getting. I heard about it when it was nothing. I really thought about buying at $100 in 2012, but figured its only for drugs. I could have bought at the Covid lows at $4k. But I didn't learned enough about it to see the light.

There is nothing wrong with the distribution because everyone had the chance to either mine early, or buy early. There were no special distribution rights to "insiders". If you believe that Bitcoin will take over the world, then you are still early! There are more millionaires in China than 21 million, and yet, there will only ever be 21 million coins. If just 1 million people today decided they want to buy 1 BTC at $60k, it would be impossible to source, unless the price went much higher.

If this is what you think then you don't understand bitcoin. Yes, it is traceable, and lots of people argue that bitcoin needs more privacy. And as it evolves, I'm sure its coming. But as for being dominated by larger holders, this is simply impossible. Nobody has power over the network just because they own more. This is very much unlike the current system.

I don't understand what you are talking about with a police state. If anything, fiat is what is so controlled. All these banks needs to do KYC, can free accounts, etc. And yet, the people who actually launder money aren't even caught or prosecuted. With enough money, you can get away with anything, but if you're a smaller guy, they go after you. And the fact that they can freeze whoever they want out of the system is a major problem.

I would say that the distribution is getting wider and wider. I didn't have any bitcoin until 2021, and I'm sure many more people bought their first chunk after me. Trump apparently owns some, and RFK Jr. bought a bunch for his kids a while back. You can damn well bet that the Blackrock CEO is also a major holder, whereas he might not have been just a couple of years ago. What do you think will happen if after all the elite get their share, and then announce this to the world? Or when another nation state adopts Bitcoin? You're going to come back and complain that $500k is too high because you could have bought for $60k.

Even if you never buy any, just the fact that there is competition to the fiat system means that everyone will benefit from a more fair system. When the population uses a currency that the government cannot print, this means the government will be forced to work for the people as opposed to against the people.
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Someone once said that when it comes to Bitcoin everyone thinks they got in late and got out early.

I was looking at it when it was 400 bucks. Was going to put 10K in and get 25 coins... but $400 seemed ridiculously high at the time. I was like I could have bought this stuff at $4 not too long ago. Had I bought them I guarantee would have sold them probably at a $1000 LOL.

S2007S · Oct 10, 2024

NoahA said:
Everyone who gets into bitcoin is unhappy about the distribution and the price they are getting. I heard about it when it was nothing. I really thought about buying at $100 in 2012, but figured its only for drugs. I could have bought at the Covid lows at $4k. But I didn't learned enough about it to see the light.

There is nothing wrong with the distribution because everyone had the chance to either mine early, or buy early. There were no special distribution rights to "insiders". If you believe that Bitcoin will take over the world, then you are still early! There are more millionaires in China than 21 million, and yet, there will only ever be 21 million coins. If just 1 million people today decided they want to buy 1 BTC at $60k, it would be impossible to source, unless the price went much higher.

If this is what you think then you don't understand bitcoin. Yes, it is traceable, and lots of people argue that bitcoin needs more privacy. And as it evolves, I'm sure its coming. But as for being dominated by larger holders, this is simply impossible. Nobody has power over the network just because they own more. This is very much unlike the current system.

I don't understand what you are talking about with a police state. If anything, fiat is what is so controlled. All these banks needs to do KYC, can free accounts, etc. And yet, the people who actually launder money aren't even caught or prosecuted. With enough money, you can get away with anything, but if you're a smaller guy, they go after you. And the fact that they can freeze whoever they want out of the system is a major problem.

I would say that the distribution is getting wider and wider. I didn't have any bitcoin until 2021, and I'm sure many more people bought their first chunk after me. Trump apparently owns some, and RFK Jr. bought a bunch for his kids a while back. You can damn well bet that the Blackrock CEO is also a major holder, whereas he might not have been just a couple of years ago. What do you think will happen if after all the elite get their share, and then announce this to the world? Or when another nation state adopts Bitcoin? You're going to come back and complain that $500k is too high because you could have bought for $60k.

Even if you never buy any, just the fact that there is competition to the fiat system means that everyone will benefit from a more fair system. When the population uses a currency that the government cannot print, this means the government will be forced to work for the people as opposed to against the people.
More...

Bitcoin is not taking over the world!

NoahA said:
Everyone who gets into bitcoin is unhappy about the distribution and the price they are getting. I heard about it when it was nothing. I really thought about buying at $100 in 2012, but figured its only for drugs. I could have bought at the Covid lows at $4k. But I didn't learned enough about it to see the light.

There is nothing wrong with the distribution because everyone had the chance to either mine early, or buy early. There were no special distribution rights to "insiders". If you believe that Bitcoin will take over the world, then you are still early! There are more millionaires in China than 21 million, and yet, there will only ever be 21 million coins. If just 1 million people today decided they want to buy 1 BTC at $60k, it would be impossible to source, unless the price went much higher.

If this is what you think then you don't understand bitcoin. Yes, it is traceable, and lots of people argue that bitcoin needs more privacy. And as it evolves, I'm sure its coming. But as for being dominated by larger holders, this is simply impossible. Nobody has power over the network just because they own more. This is very much unlike the current system.

I don't understand what you are talking about with a police state. If anything, fiat is what is so controlled. All these banks needs to do KYC, can free accounts, etc. And yet, the people who actually launder money aren't even caught or prosecuted. With enough money, you can get away with anything, but if you're a smaller guy, they go after you. And the fact that they can freeze whoever they want out of the system is a major problem.

I would say that the distribution is getting wider and wider. I didn't have any bitcoin until 2021, and I'm sure many more people bought their first chunk after me. Trump apparently owns some, and RFK Jr. bought a bunch for his kids a while back. You can damn well bet that the Blackrock CEO is also a major holder, whereas he might not have been just a couple of years ago. What do you think will happen if after all the elite get their share, and then announce this to the world? Or when another nation state adopts Bitcoin? You're going to come back and complain that $500k is too high because you could have bought for $60k.

Even if you never buy any, just the fact that there is competition to the fiat system means that everyone will benefit from a more fair system. When the population uses a currency that the government cannot print, this means the government will be forced to work for the people as opposed to against the people.
More...

Bitcoin will never be the currency of the world and to think that there are only 21 million limited edition coins doesn't mean infinite upside....I have heard of predictions as high at 13 million a coin. I mean let's be real here. ..

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If every company in the S&p buys bitcoin we could see s&p 100k in 3 yrs!

wxytrader

S2007S