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The end of Bitcoin or take over by Big Money

Swiper

Swiper

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Jan 8, 2011
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I was just pointing out how predictions can be way off and wrong at times even for the more experienced/advanced bitcoin investors
 
Swiper

Swiper

VIP Member
Jan 8, 2011
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Not sure what your point is. You are wrong also (see above). Crypto is surly unpredictable, especially in the short(er) term.

I dont think anyone could have predicted the Musk FUD, and China banning mining forcing miners to liquidate and move (what finally drove market down to 29k) etc.

I guess you can be happy that you not get in it or you would have just made 25% in these past 5 monts. I's OK for you not to like it, but you are forgetting that I have been in this since 2013. No risk, no reward. I respect that you dont like it. But you again are missing that I have not been wrong about this (big picture).

I dont plan on selling ever. If it all goes to crap, than it will suck a little. I am not emotional about it. I gain and lose 100k+ in a few days quite often. It is just part of the crypto ride. Since I am not selling, I have become numb to it.

It it does go big, I will have built generational wealth that even my kids wont outspend in their lifetime. Sounds like a risk worth taking to me.

just having a little fun here…

my prediction was closer. I win

Swiper 1
MacGyver 0


round two: whats your next prediction and what time frame?
how about we do every three months we’ll make predictions?
 
macgyver

macgyver

TID Board Of Directors
Nov 24, 2011
1,955
1,610
just having a little fun here…

my prediction was closer. I win

Swiper 1
MacGyver 0


round two: whats your next prediction and what time frame?


I think 100k is not out of question for the end of the year. I was saying 120-150, but with the bumps in the road I think 100k is do-able. If we do hit it, I expect a fairly big sell of.

My picture longer term and predicting shot term is hard. BUT if BTC can hold 49k through the options expiry coming up, I think we could be challenging 60 quite soon and IF and when it breaks, it will go QUICKLY!

Someone (probably a corp) just bought over a billion in BTC from coinbase. Not sure who it was yet. So much is media driven (Musk is an example of good and bad drivers). For the tipping point to happen, we have to see some of the 'big' players make more news. Intuitional FOMO will begin to happen. IF and when that happens, sh!~t will go nuts.

So End of this year 100k (if things go really well could push 120-150). End of next year 250-300.


OR>>>>> It all goes to sh!t. I look at BTC like pot odds in poker. I look at the upside and possible downside. I think the downside of a VERY bad protracted market could dip to 20k. And it wont become worthless overnight.

The UPSIDE is conservatively 100k this year. Those are very good odd and worth the risk metric for me.


@Swiper, dont get me wrong. There are times when I am thinking I should just sell it all and take the profits. The only thing that gives me the balls not to is that wont change anything about my life. It wont change what I do the next day or change what I buy or dont buy. So I have tempered my mind to just keep saying 'let it ride'. But I realize it is 'real' money....but again, no risk no reward.
 
jipped genes

jipped genes

VIP Member
Oct 22, 2022
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So is bitcoin/crypto dead or just waiting for a chance to blow up again?
 
BLTC

BLTC

VIP Member
Dec 23, 2010
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So is bitcoin/crypto dead or just waiting for a chance to blow up again?
Bitcoin isn't dead but the other alt coins might be. As usual, these massive dips in price will be bought at some time and it pays to get in towards the bottom if you can. I think the big meta verse coins will also thrive at some point because the meta verse will happen at some point.
 
tommyguns2

tommyguns2

Senior Moderators
Staff Member
Dec 25, 2010
5,946
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I don't think crypto is dead. But this whole exchange blow-up thing isn't new. It's like the sixth time over the past 12 years something like this has happened. I don't trust exchanges, as what they do is pretty much unregulated, and you're "trusting" some dude in a hoodie to not steal from you. Good luck with that.

If I'm going to be purchasing crypto, and I think I eventually will be, I'll have a hardware wallet that is encrypted and stored in an EMP proof safe. Only then is that crypto not able to be "hacked" or stolen, at least as I understand it.

All the politicians are printing money, and eventually the system will crash. I don't know when that will be, and I don't know what it'll look like when it happens, but economic gravity will eventually exert itself. When that does happen, I think holding some crypto makes sense. How much? I don't know. Since I view it as a hedge, I'll likely hold a percentage of my entire portfolio as that type of hedge. Maybe 5-10%.
 
jipped genes

jipped genes

VIP Member
Oct 22, 2022
347
467
I have a few hundred in some altcoins and more in bitcoin, at this point I am just gonna let it ride. I have all mine in a cold wallet. No need to worry about getting stolen while siting in a fire rated level 5 gun safe.
 
LITTLEMAGS

LITTLEMAGS

VIP Member
Nov 1, 2010
418
205
I have a few hundred in some altcoins and more in bitcoin, at this point I am just gonna let it ride. I have all mine in a cold wallet. No need to worry about getting stolen while siting in a fire rated level 5 gun safe.
Same here. Just letting it ride
 
Glycomann

Glycomann

VIP Member
Jan 19, 2011
654
417
I put in about $2500 over about 2.5 years and spent about $4000 in goods. Recently I pulled the rest out, about $1500. I think it will last as a trading instrument for a while. the big money people can still play the pump and dump game with it so it's still useful to them. As long as it's useful for the big money bandits it will remain in place. Toilent Brush hair guy was the latest shill to be stood up as a genius only to serve as a money laundry for big money schemes. This operation happens over and over. These crytos are experiments to see what works in the crypto space. CBDC has gained a lot of knowledge how the space works by watching these little experiments play out. Some of them were probably funded by black budget items. As long as you approach it with that view I think you will hedge your bets. I have $4 left in some bulshit coin. If I ever need some Parabolan I'll put a few more dinero in.
 
Tuffoldman

Tuffoldman

VIP Member
May 23, 2011
1,166
873
I've been in crypto from the very beginning on and off bought and sold never really made much until the last two years. Bought ethereum when it was under a thousand and bought Bitcoin when it was under $10,000 I sold them at almost a peak of both was able to get myself out of quite a bit of CC debt.


I'll have a pretty hefty tax bill this year but the interest I saved it was well worth selling. And now the way the numbers are looking I'm glad I got out when I did. Things may come back but in my current financial situation I can't take any more chances on such a volatile market. The old coffee can filled with cash buried in the backyard seems safer to me.
 
C

ceo

VIP Member
Oct 12, 2010
1,068
807
I've been in crypto from the very beginning on and off bought and sold never really made much until the last two years. Bought ethereum when it was under a thousand and bought Bitcoin when it was under $10,000 I sold them at almost a peak of both was able to get myself out of quite a bit of CC debt.


I'll have a pretty hefty tax bill this year but the interest I saved it was well worth selling. And now the way the numbers are looking I'm glad I got out when I did. Things may come back but in my current financial situation I can't take any more chances on such a volatile market. The old coffee can filled with cash buried in the backyard seems safer to me.
Was your crypto income reported to the IRS?

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