BTC Has Hit 25K

[shades]

Btc 100% worthless if you cannot cash out. Govt can and has shut down exchanges. The govt HAS taken bitcoin from people before. They HAVE shut down exchanges before. It would be very easy for them to shut down all exchanges with a stroke of the regulatory pen. If btc all of a sudden becomes non fungible in the developed world, via govt crackdown, btc becomes worth-less. Denial of this is at your financial peril.

[t00nces2]

Btc 100% worthless if you cannot cash out. Govt can ane has shut down exchanges. The govt HAS taken bitcoin from people before. They HAVE shut down exchanges before. It would be very easy for them to shut down all exchanges with a stroke of the regulatory pen. If btc all of a sudden becomes non fungible in the developed world, via govt crackdown, btc becomes worth-less. Denial of this is at your financial peril.

So, sounds to me like it would be a good idea not to keep it on an exchange. You can always leave the country.

[ynot2k]

So, sounds to me like it would be a good idea not to keep it on an exchange. You can always leave the country.

Of course you are correct that it is better to keep it out of any exchange, no doubt about it. While it has worthwhile value. Shades point is valid. If there was government shutdowns of all exchanges around the globe, in lock step, how many people would still want to hold or use it? The global covid lock down carried out in lock step affected the whole world and everyone went along. No, the people are too dependent on the status quo to buck what in effect would be a government mandate. They hold all of those cards.

[t00nces2]

Of course you are correct that it is better to keep it out of any exchange, no doubt about it. While it has worthwhile value. Shades point is valid. If there was government shutdowns of all exchanges around the globe, in lock step, how many people would still want to hold or use it? The global covid lock down carried out in lock step affected the whole world and everyone went along. No, the people are too dependent on the status quo to buck what in effect would be a government mandate. They hold all of those cards.

Okay, think this through. I would speculate you are thinking one dimensionally....

1. If that were to occur, what would keep the same restrictions selling gold or silver or (substitute alternate item of value here)?

2. The is no one centralized Bitcoin exchange. It is a decentralized digital algorithm. There will always be someone, somewhere willing to exchange BTC for an item of value.

3. The big leap seems to be the same leap one must get to buy gold and silver as a substituted of value for dollars. In a situation where you experience a currency collapse, you would not sell your last can of beans in exchange for 10,000 pieces of green paper. Gold and silver value does not equal $$$'s, it equals the value of the work done to mine and produce it.

4. Bitcoin's value comes from the time and energy and work done to mine it through the algorithm. You can tell me about all of your doubts about its' ability to withstand government attack, but any argument against BTC can be used against ANY store of value you can point to as your particular trusted store of value.

5. Read this and incorporate this into your being --->ABSOLUTELY NOTHING IS SAFE! Anything you think is safe, you are mistaken. Ask a 1939 German Jew how well his chosen store of value held up for them in 1945.

6. We are in a fourth turning that looks to be as bad, if not worse, than horrific fourth turnings in the past (The French Revolution and The Civil War and WWII).

As I see it, arguing against Bitcoin is an argument about the arrangement of the chairs on the deck of the Titanic. Be as close as you can to EVERY LIFEBOAT YOU CAN BE CLOSE TO! You never know which will be overcrowded or sabotaged. The entire Western world is Weimar Germany and corrupt and is in the sites of every government who is looking for retribution for the administration of empire.

My advice is to prepare your mind that everything you believe to be secure will turn to quicksand. I have been preparing since 2001 (actually before, but without the same vigor and worry), and I thought the end would be bad, but I did not see the worldwide desire to make our destruction their goal.

Bitcoin is not what I would believe an ultimate lifeboat to the elimination of all others, it is just one of the lifeboats I am trying to position myself next to... and I think it would be sage to at least be in sight of a little Bitcoin lifeboat.

[ynot2k]

Todd, you read way too much into my post. The only thing I was referring to was a reply you made to shades:

...So, sounds to me like it would be a good idea not to keep it on an exchange. You can always leave the country...."

Only thing being spoken about is bitcoin and exchanges. Nothing about other assets etc.

Regarding Bitcoin and exchanges. If all governments that shut down society for a non-deadly virus were to shut down all exchanges you are right "There will always be someone, somewhere willing to exchange BTC for an item of value."

Someone, somewhere? How many people with jobs, family, church, and all the things that take time to do are going to continue to keep money in bitcoin if they have to find someone, somewhere in order to trade it or sell it for fiat or whatever?

[t00nces2]

Todd, you read way too much into my post. The only thing I was referring to was a reply you made to shades:

...So, sounds to me like it would be a good idea not to keep it on an exchange. You can always leave the country...."

Only thing being spoken about is bitcoin and exchanges. Nothing about other assets etc.

Regarding Bitcoin and exchanges. If all governments that shut down society for a non-deadly virus were to shut down all exchanges you are right "There will always be someone, somewhere willing to exchange BTC for an item of value."

Someone, somewhere? How many people with jobs, family, church, and all the things that take time to do are going to continue to keep money in bitcoin if they have to find someone, somewhere in order to trade it or sell it for fiat or whatever?

Same with anything else.

[ynot2k]

Same with anything else.

True although there are different risks to different assets.

I just moved money from here to the US. I had qualms about it as I consider simply having the money in a US financial institution, in this case TD Ameritrade, high risk due to aggressive and egregious government capital controls especially in the medium to longer term.

[t00nces2]

True although there are different risks to different assets.

I just moved money from here to the US. I had qualms about it as I consider simply having the money in a US financial institution, in this case TD Ameritrade, high risk due to aggressive and egregious government capital controls especially in the medium to longer term.

TDAmeritrade just dumped us into Chuck Schwab... I'm not really too happy about it. Fixing to move to another broker with a better selection of services.

[ynot2k]

TDAmeritrade just dumped us into Chuck Schwab... I'm not really too happy about it. Fixing to move to another broker with a better selection of services.

They said mine was scheduled to be moved in about 3 months.

[ynot2k]

IMO the 40k guess failed. That's over. could be 42k before long though. a separate guess.