Current Events > Bitcoin isn't going to crash again is it

(+) Yeah! (+)

It survived two crashes and basically got through the financial crisis of 2020 with relative ease. At this point regardless of when you have bought in you are making money the longer you have stayed in.

Don't see why people would sell it off en masse now unless it's people trying to make a quick buck with quick investments and failed miserably but I think these people probably won't make a big impact now or have tried it with meme coins.

Kinda seems like worst case scenario it stays around its current peak but even that seems unlikely? At this rate it's likely just gonna keep growing.

I kinda wish it did so I'd buy in when it's low (having a whole bitcoin would be nice...) but I'm pretty sure that train is gone.

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Yes

its had the same pattern for about 10 years

not sure why this pump would be any different

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E32005 posted...

its had the same pattern for about 10 years

not sure why this pump would be any different

Because if the ponzi scheme just gets more investors than it will make more money! Buy bitcoin now And gme and amc. It's never to late!

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One does not simply find $35,000 and invest in bitcoin.

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E32005 posted...

its had the same pattern for about 10 years

not sure why this pump would be any different

If it keeps following the same pattern wouldn't the next pump also get higher?

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SevenTenths posted...

Because if the ponzi scheme just gets more investors than it will make more money! Buy bitcoin now And gme and amc. It's never to late!

weird thing with bitcoin is that its worthless until its not; unlike actual ponzi schemes.

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Darmik posted...

If it keeps following the same pattern wouldn't the next pump also get higher?

most likely

seems like every few years it pumps, his a ATH, dumps, sets a new floor.

1000
5000
20000
now 40

my guess it floors at 10 to 15 and next pump in a few years it goes to 50 maybe?

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Its always going to crash. And Ill be along for the ride.

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E32005 posted...

most likely

seems like every few years it pumps, his a ATH, dumps, sets a new floor.

1000
5000
20000
now 40

my guess it floors at 10 to 15 and next pump in a few years it goes to 50 maybe?

That sounds fine to me. Just curious if the dumps will get as drastic since it's done it twice now. Maybe people will have caught on a bit.

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Christian RULES posted...

One does not simply find $35,000 and invest in bitcoin.

You could still get fractional shares.

Darmik posted...

That sounds fine to me. Just curious if the dumps will get as drastic since it's done it twice now. Maybe people will have caught on a bit.

seems like each time more people get involved so it could go crazy high next time. some analysts were predicting 100k

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To be clear I still wouldn't invest shitloads of money in this or anything because I'm overall very cautious. A couple of years ago I put in $100 in some random crypto like ETH and it crashed to $25 and now it's worth almost $200. I know it's way past the point of actually making any good money but I think I'll be able to spare enough to make some cute little bonus down the line. It's still too volatile to put most of your savings in there or anything IMO because you never know when you'll need that money.

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Invest in ZCash while you can. You havent missed the boat on that yet

Maybe not crash but a nice sinking motion is inevitable.

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2Pacavelli posted...

Invest in ZCash while you can. You havent missed the boat on that yet

All of the online projections seem pretty bad.

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Darmik posted...

All of the online projections seem pretty bad.

Even just looking at it historically, I'm not seeing enough chatter to say it's anything more than a risk. Maybe if you're on 24/7 and can sell just at the right moment.

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Darmik posted...

All of the online projections seem pretty bad.

ZCash has a max supply of 21 Million which will be fully mined by 2032.

It has a strong development team behind it as well as private transactions. In the future it's not a stretch that it could potentially reach 10s of Thousands per coin

gunplagirl posted...

Even just looking at it historically, I'm not seeing enough chatter to say it's anything more than a risk. Maybe if you're on 24/7 and can sell just at the right moment.

It's a sleeping giant

https://youtu.be/k1z7SXZY7ZA

I'd say XRP because if it's relation with the banking system and ZCash and other coins with low max supply (Dash) can have great potential in the future. Those are potential moonshots

LivingLegend posted...

Bitcoin has no real value.

its not an investment at all.

Maybe not indefinitely, but if people give it value, it has value.

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Future_Trunks posted...

if a catastrophic tether-related correction occurs, i'll personally see it as a powerful opportunity to buy. they may be able to manipulate price, but not fundamental value.

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if it takes another crash i'll probably throw 50k at it

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Everything crashes

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LivingLegend posted...

Fundamental value of Bitcoin is zero.

til you are duncanwii

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BilalPowell posted...

Everything crashes

like entropy man

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LivingLegend posted...

Fundamental value of Bitcoin is zero.

literally the algorithmic weaponization of selfish competitive tendencies towards the ends of maximizing computational hashing power while incentivizing the minimization of energy expenditures, further incentivizing the the maintenance of not just the protocol/network but the facilitation of its scalability, robustness, and the development of infrastructure for real-world financial utility in order to preserve and encourage growth and adoption, passively encouraging and rewarding low time preference decision-making, all within an ecosystem supported by some of the industry's best minds, its cohesion reinforced by ever increasing network effects, and its operations and use cases by and large resistant to wholesale meddling by state or institutional actors

but keep repeating that mantra as wages and savings are perennially diluted by state-driven inflation

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So many buzzwords, so little paragraph structure.

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SevenTenths posted...

So many buzzwords, so little paragraph structure.

a fallacious non-argument characterized by implicit apologism for deflationary monetary policy and the usurious and consumption-ridden hellscape it has given rise to is not worth a comprehensive or properly formatted response

[LFAQs-redacted-quote]


i've made way too much money to ever be mad

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Yes more buzzwords keep going I'm almost there daddy

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TheMikh posted...

a fallacious non-argument characterized by implicit apologism for deflationary monetary policy and the usurious and consumption-ridden hellscape it has given rise to is not worth a comprehensive or properly formatted response

Do you think using big words make your argument better?

Bitcoin is going to be zero in a few years. A currency that fluctuates as much as it does has no value as currency.

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LivingLegend posted...

Bitcoin is not currency. At all.

Dont even call it that Nobody buys anything with bitcoin

I dare you to try and go to McDonalds and buy a big Mac with bitcoin You will be laughed at.

you could just trade your bitcoin for a bunch of dollars and then buy a bunch of big macs

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Squall28 posted...

Bitcoin is going to be zero in a few years. A currency that fluctuates as much as it does has no value as currency.

People have been saying this for years. It's crashed down to a pretty low price a few times, but it always bounces back.

I'm sure it will genuinely die out someday, but I'm not going to bet on it happening anytime soon.

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LivingLegend posted...

If you have to trade your currency for real money just to spend it, then its not currency.

but it becomes currency so who cares

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Squall28 posted...

Do you think using big words make your argument better?

by no stretch of the imagination am i using "big words," not that it should matter if we're discussing a topic at the intersection of multiple disciplines (technology, finance, economics, business, social science, and political theory), and where there's an assumption that anyone commenting authoritatively has done their homework such that the needless verbosity that comes with simplifying the most basic concepts and terminology of those domains is unnecessary.

Bitcoin is going to be zero in a few years. A currency that fluctuates as much as it does has no value as currency.

though it checks all the boxes with respect to the federal reserve's definition of money, adoption a work in progress to the extent that people aren't being strong-armed into such, i wouldn't consider it currency moreso than an analog to fixed-supply [fractional] stock in a public company or gold, the latter a bit of a cliched comparison.

if volatility undermined value, people would not invest in companies, let alone those whose value is chiefly derived from online activities moreso than physical capital or production (aside from human capital, and more abstract forms such as online "properties", software applications and activities facilitated by such, and code/data assets).

if bitcoin goes to zero, it is understood that this will come not as a result of price instability, but due to its being supplanted by a more versatile but similarly distributed protocol that generates sufficient value to absorb the community and money backing it nigh wholesale.

the best contender for this is ethereum, which has already seemingly tackled the volatility problem by way of stablecoins and such, but it is still addressing scalability concerns.

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LivingLegend posted...

No, it doesnt.

why not

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LivingLegend posted...

Bitcoin is not currency. At all.

Dont even call it that Nobody buys anything with bitcoin

I dare you to try and go to McDonalds and buy a big Mac with bitcoin You will be laughed at.

i've made some lovely purchases with crypto in the past. the issue with transactions with domestic businesses, particularly brick-and-mortars, is that at the end of the day all taxes must be paid to the government in dollars, and disrupting established processes to accommodate new payment forms - whether of crypto, or even dollars by way of unsupported payment processors - involves short-term investment costs that are more convenient to just pass over due to lack of short-term roi prospects.

there are, however, locales with a far more vibrant payment ecosystems - particularly in the prc and certain african countries, the former having an ostensibly freer market in some regards than our own in its special economic zones, the latter having far more room for economic growth and development. time will tell whether we're being left in the dust with respect to this.

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