BTC Has Hit 25K

[ynot2k]

...If I ever get down south, I might drop in on you...

Excellent!

[ynot2k]

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

[t00nces2]

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?

[ynot2k]

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.

[t00nces2]

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.

[ynot2k]

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.

...

[ynot2k]

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

[t00nces2]

Bumped up over 35K... Gold and silver bumping against the top too. Could be getting near to a breakout? Will breakout cause a lockdown?

[ynot2k]

[loud buzzer sound here]

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

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

[t00nces2]

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.