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Conno

BTC General Chat Thread

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OK fellas bit of a dump ongoing right now, how do you feel?

 

Personally in a word, EXCELLENT¬† ūüôā¬†¬†Can now buy more for even less. Remember only 21 million of them out there, so¬†every extra one you can accumulate means less for the rest. Selfish? it's a mean world.¬†

 

Yea I know skeptics will say "throwing more good money after bad".        My reply " No, throwing more bad money after good".  

 

USA debt around 23 Trillion. Negative yielding bonds hit 17 Trillion. The Fed has already started the injection of billions of counterfeit into the financial markets this very week. But assures the market that there is no need for concern. LOL

 

I have zero faith in the current fiat paradigm and given enough time we will get The Big Short Pt II. If you haven't watched The Big Short movie it's a must watch. I get the feeling we are once again living a pre 2007/8 financial crisis moment. 

 

So in conclusion I feel the risk of buying more BTC on these falls is one worth taking.......the alternative is to keep holding your dead man walking, i.e. Fiat trash. 

 

Note. Not all in on BTC. Also a hodler of Gold and Silver. 

 

$23 Trillion debt remember........and buying BTC is mad? 

 

What does one TRILLION dollars look like?

 
 

All this talk about "stimulus packages" and "bailouts"...

A billion dollars...

A hundred billion dollars...

Eight hundred billion dollars...

One TRILLION dollars...

What does that look like? I mean, these various numbers are tossed around like so many doggie treats, so I thought I'd take Google Sketchup out for a test drive and try to get a sense of what exactly a trillion dollars looks like.

We'll start with a $100 dollar bill. Currently the largest U.S. denomination in general circulation. Most everyone has seen them, slighty fewer have owned them. Guaranteed to make friends wherever they go.

 

$100

 

 

A packet of one hundred $100 bills is less than 1/2" thick and contains $10,000. Fits in your pocket easily and is more than enough for week or two of shamefully decadent fun.

 

$10,000

 

Believe it or not, this next little pile is $1 million dollars (100 packets of $10,000). You could stuff that into a grocery bag and walk around with it.

$1,000,000 (one million dollars)

 

 

 

While a measly $1 million looked a little unimpressive, $100 million is a little more respectable. It fits neatly on a standard pallet...

$100,000,000 (one hundred million dollars)

 

 

And $1 BILLION dollars... now we're really getting somewhere...

$1,000,000,000 (one billion dollars)

 

 

 

Next we'll look at ONE TRILLION dollars. This is that number we've been hearing so much about. What is a trillion dollars? Well, it's a million million. It's a thousand billion. It's a one followed by 12 zeros.

You ready for this?

It's pretty surprising.

Go ahead...

Scroll down...

Ladies and gentlemen... I give you $1 trillion dollars...

$1,000,000,000,000 (one trillion dollars)

Notice those pallets are double stacked.
...and remember those are $100 bills.

So the next time you hear someone toss around the phrase "trillion dollars"... that's what they're talking about.

Edited by Conno
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good time to buy, could go a little lower but its taken the edge off that unusual mid sized bubble. personally I just hold

Edited by phycokiller

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Best way. Baht cost average in and hodl. If you are going to trade, then only with a little fun money.

What is your prediction for the halving in May? Could be April as block times are on average quite a bit under 10 minutes recently.

 

Here goes just for fun.

1. End of 2019 new high between $20k-$30k.

2. Run up to the halving, maybe bounce around in between end of 2019 price.

3. Halving event. Probably not much different.

4. Two to three months after halving $50k - $75k

5. End of 2020. Hit's around $100k then does another whopper correction to $30k ūüôā

Edited by Conno

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16 hours ago, Conno said:

Best way. Baht cost average in and hodl. If you are going to trade, then only with a little fun money.

What is your prediction for the halving in May? Could be April as block times are on average quite a bit under 10 minutes recently.

 

Here goes just for fun.

1. End of 2019 new high between $20k-$30k.

2. Run up to the halving, maybe bounce around in between end of 2019 price.

3. Halving event. Probably not much different.

4. Two to three months after halving $50k - $75k

5. End of 2020. Hit's around $100k then does another whopper correction to $30k ūüôā

I dont think much will happen for a while yet. halving maybe about 10000, nothing seems to happen around halving, next rally wont begin till the end of 2020 start 2021, or even latter, then up to 200-300 k with a correction to 50000. this guy I find interesting https://medium.com/unconfiscatable/bitcoins-power-oscillator-64875128c56f

 

good time to buy anyway, could go lower but I dont think will ever go below 6500 again. I just hold, I havent found a trading strategy that would work, altho Im sure its possible if you have the computing power, programming knowledge, statisical knowledge and time, and want to risk using an exchange. I think its a great store of value tho in the sense that its more secure then any other investment, which also means that the price will go up as more people realize that. gold is huge but bitcoin is actually superior. the fact that its the best form of currency at this stage of history is just an added bonus

Edited by phycokiller

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If you really want to invest in cryptocurrency, read up plenty about security. In other words, how to protect your funds. There is simply so many areas where users have lost their funds.
- Leaving money on exchanges which then get hacked
- Using a wallet that gets attacked
- Following instructional videos on claiming free tokens and end up giving up their private keys
- Falling for twitter scams

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1 hour ago, KevinYah said:

If you really want to invest in cryptocurrency, read up plenty about security. In other words, how to protect your funds. There is simply so many areas where users have lost their funds.
- Leaving money on exchanges which then get hacked
- Using a wallet that gets attacked
- Following instructional videos on claiming free tokens and end up giving up their private keys
- Falling for twitter scams

thats true, but the strength of crypro, or btc anyway, is that once you have it secure its more secure than banks or gold will ever be which is one of the main reasons to invest in it IMO

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I think crypto currency will be the future. Just like so many others here. However, I dont think it will be BTC, the first generation. It was all nice and good while they were the only ones and introducing crypto currency to the world and getting this whole revolution started.

I think the 3rd generation cryptos will succeed bitcoin and probably Ethereum. They just need time to develop everything from the ground up. Right now crypto currency is pretty useless. Its more of a stock than a currency. Many use it as a stock...buy, sell, buy, sell....which is fine with me, but defeats the purpose. I buy and hodl until the day I can go to a grocery store and pay for my shopping with the crypto I bought dirt cheap. We're only a few more years away from that...unless there is another recession coming. Then we may see the revolution earlier.

But for now, sit back and let the cryptos do their programming and wait for the magic to unfold.

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Predicting the future price is nothing but a bit of fun really but what has worked for the past 10 years is DCA or Dollar Cost Averaging. It would have been impossible to have not made a considerable profit using DCA. I'm with you NiwPix, just keeping buying a little every month or on the dips and hodl until crypto is the daily used currency. 

 

Until that time, here's a really handy tool that can be used to back-test the DCA strategy.

https://dcabtc.com/

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Posted (edited)

Gentlemen.....please please please take note. For those who are paying attention, these clues only come once in a lifetime. Read my earlier post ref the Stock to Flow Ratio that I made on the 21st Sept on my AML/KYC thread.

 

This article isn't from some crypto evangelist, fringe geek or someone from a mental hospital. This report is from Bayern LB, a huge mainstream German Bank.

 

BayernLB or Bayerische Landesbank is a publicly regulated bank based in Munich, Germany and one of the six Landesbanken. It is 75% owned by the free state of Bavaria and 25% owned by the Sparkassenverband Bayern, the umbrella organization of Bavarian Sparkassen.

 

Megatrend Digitalisation

https://www.bayernlb.com/internet/media/ir/downloads_1/bayernlb_research/megatrend_publikationen/megatrend_bitcoins2f_20190930_EN.pdf

 

I'm accumulating as much BTC as I can afford, imo what's coming in the next few years will be life changing. Don't let the skeptics grind you down.

Edited by Conno

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