BWAHAHAHAHAHAH, cantillinoare, why do you get so bothered by me??? Never seen this tone of a post from you before, thought you would be enjoying your good life sometimes having to report to your overlord elites at Davos, BWAHAHAHAHAHA I'm an anonymous poster. Be stoic and don't let me have all this power over you, cantillionaire
What the fuck is this? have you lost your marbles? the fact that your $1.2MM networth (measured in fiat money that you despise) is now a third while at the same time, everything got more expensive in that fiat money. 43, worked in tech, only worth 400k in fiat money, but still worth 20 bitcoin! .... that's a real cantillionaire.
This is a weird and confusion fight you guys are having. Honest question for those that never think $69,000 bitcoin will be eclipsed why do you think that? It’s certainly possible I’m just wondering why people have that opinion and what has changed to make bitcoin unable to recover like all the other crashes in history.
Out of curiosity @newwurldmn , what is it that you don't like about bitcoin? Or are you just lumping the whole crypto space in your thesis? I know you're a very successful trader, and a few guys here will vouch for you, so there is no doubt in my mind about your status or accomplishments. But since you come from finance, it would be good to hear what you don't like about bitcoin, and specifically bitcoin. Its fairly obvious that the debt will only go up and the value of fiat will only go down. And there is also enough good research out there that all government spending does is increase the wealth gap. (Hence the Cantillon effect) And although as unlikely as it may sound, if we go back in history far enough, we see every fiat currency has failed, and every now and then you have enough citizens revolt against the some current king or some system. So it seems to me that there wouldn't be this huge push by some governments or organizations to destroy and ban crypto if there wasn't at least a bit of fear that it will one day take over, and hence the power by the elites will be taken away. I'm not suggesting the USD is gone in 2 or 5 years, but the fact that the debt is high, and interest is also too high for the government to pay bills without a shit ton of more money printing, which isn't possible if they want to continue with quantitative tightening, means that there are some serious issues facing the current system.
One of the best trades not too long ago was the MSTR trade. The stock was selling at quite a discount to the Bitcoin holdings alone on the balance sheets. So if you wanted blue-chip crypto, you were getting not just a real-time discounted price, but also getting equity ownership in Microstrategy as a bonus as well.
Nothing against Saylor, but didn't we just all learn the importance of "not your keys, not your coins". Not saying he is doing anything suspect, but surely there has to be at least a risk premium attached to you supposedly owning bitcoin through owning shares of MSTR.
Bitcoin is in the process of coming to a bad ending. It has already crushed the wealth of many of it's believers. Nothing especially good to see here folks.