Amzn is a company that produces billions of dollars a year in revenue and is basically the walmart of the internet, it deserves its valuation, bitcoin is a computer program backed by no one, that produces nothing, where people with money are supposed to trust its all done in good faith, pretty big difference.
Wrong...it is backed by miners that have more computing power than Google. The value of money is to be able to sign contracts. That has value. If I want to send money, I have to pay the wire fee and wait days. With bitcoin, it is less fees and faster service.
And how much do those miners have/what kind of revenue do those miners provide, where it is going to back a currency when there is a crisis of confidence? What tangible assets are these people putting down? Do you not understand the problem? What happens if someone just says "Sorry bro your bit coins are mine" Amzn has assetsd to go after if they screw you, with bitcoin There is no one to sue, no country, nothing, the first time one of these cryptocurrencies gets scammed peoplewill realize that. Do you think anyone with serious money would ever buy something like that, where they dont have legal recourse if you screw them?
You guys are missing the forest for the tree. 4B people in Asia, cultural money laundering and tax evasion issues, governments/countries/cultures with an authoritarian bent, fast money social culture, breakneck tech growth. You guys are arguing about a tick in ES when the entire mkt is soaring higher. Forest for the tree.
Max, bro, listen... It is very difficult to have a discussion with you because you have an idea that everyone who invested in bitcoin are children blinded by a mass delusion of Tulip Mania. The Winklevoss twins are holding about $200 Million worth of bitcoins. There are others who hold more than that (not me). Just for a minute, consider that you are not smarter than all of the people with stake in the game? If you think you are, you need to put your money where your mouth is and open multiple accounts, Kraken, Poloniex, etc. and mortgage everything you have and short bitcoin over $2300 per bitcoin. Short half now, Keep adding until you've made million$ per your "guaranteed crash" a few posts back. It's not hard.
LOL, i dont think im smarter than anyone, im sorry if i gave you that impression, infact im incredibly simple minded, but i really dont care if the winklewart? twins buy bitcoin the bottom line is you cant tell me who backs it, what backs it, or who you go to when someone gets screwed, by all means keep buying bro, you will be sorry in a month i promise. Any time you buy an asset, be it stocks, bonds, commodities, in order for the price of what you are buying to go up there has to be money behind it...... do you think anyone in their right mind besides these winkledork twins is going to put billions of dollars in when there iz no one to go after, no assets, no government backing it up, etc........ people who are rich dont do shit that is that stupid. The tinklemack twins or are trying to take ownership in bitcoin thats why they bought a stake, they are trying to corner the market for a profit, but thats literally the only rich person ive ever heard of buying it. Keep in mind the tinkletruck twins are pretty much the biggest losers in history, they were in on the ground floor of facebook and blew it.
Bitcoin is everything opposite of what you said. It's decentralized, peer to peer currency and you are the bank (if you're holding the bitcoin and not on an exchange). You lose the bitcoins, you can't cry to nobody about it. Suck it up. That's why Satoshi Nakamoto invented it is because he (or they) didn't like the central banks worldwide, how they were all printing money to bail out the banks and the whole financial system. Trillion$ of $$$ printed out of thin air. But that is what we put all our trust in. We still do. It's how our society survives. We have to have government. They need to build the roads and other stuff we need. They need to print $$$. Citibank, BofA, all penny stocks. Now, they are worth billion$ again. We printed money through QE to bailout the banks risk-free trillion$. You're happy. We're all happy. Societies worldwide are happy. We trust in the government. They print $$$. A month from now, June 24, can we come back and post again? You can tell me I told you so...
Looks like buyers are good again, it held trend when it looked like it was going to break, this is a confidence game now one of these days that red bar is going to just blow right through the previous lows when everyone is expecting it to hold.
Sweet video dude, love the tune too i totally felt my self rocking it to the price action in bitcoin, lol.