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#1
11-09-2021, 02:34 PM
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Unfortunately Castle bitcoin has not really weathered any significant financial storms yet. After 2008 the stock market has been going up and up and up and up seemingly without sense at all. A 401k can be yielding close to 20% right now if it's invested in stocks which is mind boggling.
How it handles a major disruption in the market will be very interesting.
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#2
11-09-2021, 03:01 PM
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Did I miss one? Yes, the Fed wants to outlaw bear markets and a lot of printed money has flooded into stocks. Anyone who bought stocks in early 2020 is doing great. But bitcoin is doing better. In 10 years, maybe your basket of stocks will be a great pick. Maybe not. In 10 years, Bitcoin will be worth 10-50x+ what it is today in USD terms. Part of that will be due to BTC adoption, part of that is due to USD inflation. Bitcoin is the greatest 'trade' of our lifetime. Period. That's the point of this thread. Quote:
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#3
11-09-2021, 03:09 PM
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Yeah none of those post 2008 crisis were universally hitting the entire world like the 08. 2020 was different being a self inflicted damage on the economy to help re-arrange wealth again towards upper tiers.
Your arguments in favor of bitcoin are still robust. If anything a big crisis will show btc to be as robust as you say it is.
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#4
11-09-2021, 03:37 PM
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Could be soon. Even the Fed's public tone is changing:
How can we avoid it if we keep printing?
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#5
11-09-2021, 04:12 PM
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Bitcoin is definitly a pyramid scheme, it wont make it to 1 mil but I like your optimism. [You must be logged in to view images. Log in or Register.]
before you start talking about its real world applications, these fruit pills also provide real world applications. it's just a god damn big pyramid. older members get richer everytime new members join in, new memberse spend all day recruiting newer members. it's a pyramid scheme eventually we'll run out of suckers, but by then it will be too big to fail dont take me saying this like it's some doom and gloom it's just a fact desnt mean anything but that, could make a bigger pyramid forever could collapse i dont care, but by all definitions, it is a pyramid scheme. Get in while you can! | ||
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#6
11-09-2021, 06:10 PM
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But nay.
Comparing bitcoin to fruit pills is silly. Your definition of pyramid fits Tesla, Apple, Facebook, Twitter, and any enterprise that grew exponentially in value. Bitcoin is worth more than any of those companies. It was the fastest brand to hit $1 trillion dollars. ---------- Billions of people are losing 2-5% or more of the work energy they expend in a year year-on-year in perpetuity. Inflation is manmade rust or blight that goes on in perpetuity. It is a cancer on our livelihoods. Man has been fighting the 2nd law of thermodynamics for years. We still are. Inflation adds to it. Bitcoin ain't free, we use lots of electrical energy to keep it going. But the cost of what goes in is a pittance compared to what comes out. We are curing economic cancer of arbitrary, ivory tower runaway inflation policy. We are pushing back against endless wars.
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#7
11-09-2021, 06:13 PM
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Also $1M bitcoin means $21T bitcoin market cap. Gold is $10T. In the next 4 years, BTC will surpass gold market cap, maybe around $4-7T area as gold falls and BTC rises. New gen wants digital gold, not analog gold.
$21T market cap, or 2x gold... Is Bitcoin 2x superior to gold? No, it's many multiple times more valuable for what it is and can do. $1M bitcoin only seems crazy because we haven't hit $100k. $100k bitcoin seemed crazy because we hadn't hit $10k. $10k seemed crazy because we hadn't hit $1k. EXPAND YOUR THINKING Stock-to-flow model, baby. We're going to $1M+
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#9
11-09-2021, 06:55 PM
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Fakes news! DJT was never wrong about anything ever! The man never spoke a false word! And he is was a (stable) genius, so he couldn't be wrong on the facts!
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