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Thread: BTC Has Hit 25K

  1. #771

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    Quote Originally Posted by Atlas Shrugged View Post
    ...If I ever get down south, I might drop in on you...
    Excellent!

  2. #772

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    I found this interesting. It, in part, fits some of my thinking regarding Bitcoin and crypto.

    https://www.salonprivemag.com/asset-...ryptocurrency/


    Regarding Bitcoin supposed 'invincibility' my thoughts have changed quite a bit in the last 6 years. Just going from spotty memory I recall some here saying that no government action could affect it's usage.

    Does anyone still think that and if so, why and/or how?

    TIA

  3. #773

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    Quote Originally Posted by ynot2k View Post
    I found this interesting. It, in part, fits some of my thinking regarding Bitcoin and crypto.

    https://www.salonprivemag.com/asset-...ryptocurrency/


    Regarding Bitcoin supposed 'invincibility' my thoughts have changed quite a bit in the last 6 years. Just going from spotty memory I recall some here saying that no government action could affect it's usage.

    Does anyone still think that and if so, why and/or how?

    TIA
    I don't know. It would seem to have the same weakness as PM ETF's... If you don't hold it, you don't own it. What keeps anyone from pulling a SBF and and bribing politicians and taking a powder with the underlying asset?
    Now there's no more oak oppression
    They passed a noble law
    Now the trees are all kept equal
    By hatchet, axe and saw.

    I will not comply.

    The Tea Party... quietly plotting to take over the world,
    and leave you the hell alone!

  4. #774

    Default

    Quote Originally Posted by t00nces2 View Post
    I don't know. It would seem to have the same weakness as PM ETF's... If you don't hold it, you don't own it. What keeps anyone from pulling a SBF and and bribing politicians and taking a powder with the underlying asset?
    In the article itself I didn't see any central point such as an exchange to go bankrupt of act in a fraudulent manner. On my first read, I mostly got out of it the applicable data recorded in the/a blockchain as proof of ownership of physical items.

    On a 2nd read, it puzzles a bit. I need more information to think I am even familiar with them at this point.

  5. #775

    Default

    Quote Originally Posted by ynot2k View Post
    In the article itself I didn't see any central point such as an exchange to go bankrupt of act in a fraudulent manner. On my first read, I mostly got out of it the applicable data recorded in the/a blockchain as proof of ownership of physical items.

    On a 2nd read, it puzzles a bit. I need more information to think I am even familiar with them at this point.
    Blockchain can be used as an immutable proof of ownership. The blockchain would record the trail of ownership and reveal the theft and the thief. There would be no title theft because it would be impossible to steal a title (or very difficult).

    The first paragraph in the article makes the case for an asset backed cryptocurrency. The problem I see it with a fungible asset is you could take the anonymous gold (or silver) and steal it and sell it on the market or ferret it away where it could not be found. I see the same weakness as an ETF in that the asset is only as safe as the custodian of the asset.
    Now there's no more oak oppression
    They passed a noble law
    Now the trees are all kept equal
    By hatchet, axe and saw.

    I will not comply.

    The Tea Party... quietly plotting to take over the world,
    and leave you the hell alone!

  6. #776

    Default

    Quote Originally Posted by t00nces2 View Post
    Blockchain can be used as an immutable proof of ownership. The blockchain would record the trail of ownership and reveal the theft and the thief. There would be no title theft because it would be impossible to steal a title (or very difficult).

    The first paragraph in the article makes the case for an asset backed cryptocurrency. The problem I see it with a fungible asset is you could take the anonymous gold (or silver) and steal it and sell it on the market or ferret it away where it could not be found. I see the same weakness as an ETF in that the asset is only as safe as the custodian of the asset.
    So true.

    ...

  7. #777

    Default

    BTC to $40 right quick from here, likely tomorrow or next day.

    BTC antagonist feel free to fire away, I (and btc for that matter) have thick skin. Oh btw the above prognostication is based entirely on a price chart so TA antagonist may also want to take a shot or two.



    If it drops below $33.6 then that is another reason this post is total bs



    If you buy btc because of anything I write, you're pretty dumb. If you do and it goes up, you're dumb and lucky. Otherwise, you're just dumb. Don't buy or sell anything based on my view. In fact it could be profitable to do just the opposite
    Last edited by ynot2k; 10-31-2023 at 07:18 AM.

  8. #778

    Default

    Bumped up over 35K... Gold and silver bumping against the top too. Could be getting near to a breakout? Will breakout cause a lockdown?
    Now there's no more oak oppression
    They passed a noble law
    Now the trees are all kept equal
    By hatchet, axe and saw.

    I will not comply.

    The Tea Party... quietly plotting to take over the world,
    and leave you the hell alone!

  9. #779

    Default

    [loud buzzer sound here]

    Ok this "40k right quick" prognostication turned out to be totally wrong!



    Quote Originally Posted by ynot2k View Post
    BTC to $40 right quick from here, likely tomorrow or next day.

    BTC antagonist feel free to fire away, I (and btc for that matter) have thick skin. Oh btw the above prognostication is based entirely on a price chart so TA antagonist may also want to take a shot or two.



    If it drops below $33.6 then that is another reason this post is total bs



    If you buy btc because of anything I write, you're pretty dumb. If you do and it goes up, you're dumb and lucky. Otherwise, you're just dumb. Don't buy or sell anything based on my view. In fact it could be profitable to do just the opposite

  10. #780

    Default

    We are still in "right quick" territory. Don't give up just yet. Keep in mind that as the government fails, BTC is something they cannot take from you.
    Now there's no more oak oppression
    They passed a noble law
    Now the trees are all kept equal
    By hatchet, axe and saw.

    I will not comply.

    The Tea Party... quietly plotting to take over the world,
    and leave you the hell alone!

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