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The end of Bitcoin or take over by Big Money

CJ Smalls

CJ Smalls

Member
Aug 15, 2020
44
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Here's how you know all the cryptos are going to crash and burn..... I've finally thrown in the towel and bought into a few of them.

Sorry in advance!!! ;)
 
tommyguns2

tommyguns2

Senior Moderators
Staff Member
Dec 25, 2010
6,311
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I've always thought crypto was a pseudo scam, and if it wasn't, then as soon as it started to get real traction, national governments would shut it down as it's such a big threat. I still think there is danger that China and/or US and/or EU will try to regulate it to worthlessness, but as major institutions (such as JP Morgan and Goldman Sachs) have started to get involved, I'm no longer so sure. I'm open to putting maybe 2% of my assets into crypto as a hedge, but I'm likely going to wait until it falls further, and try to buy it at a relative discount.
 
macgyver

macgyver

TID Board Of Directors
Nov 24, 2011
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Great time to buy. Look at who is scooping up the dips.

Feel pretty comfortable that Aug will see 100 k btc.

Not a big fan of alts. We are following the same pattern right now we did in 2017. Bitcoin losing market dominance. Alta go crazy.

I am long btc anyway. No plans on selling even at 100k. No plans on selling ever really. No reason to. Many options coming out for crypto lending with as little as 1% interest. No taxable event is triggered and you retain the coins that are appreciating. At least that's my plan forward.

Currently earning 4 figures/ month in interest interest. Which are paid in btc. So if btc goes back to 60 it is like making 3k / month...etc.

I am not in it for the short. Started mining in 2013 and have never sold anything.

My goal was always go big or go home and have it be something life-changing. But the long-term plan is really to never sell.
 
Swiper

Swiper

VIP Member
Jan 8, 2011
1,588
1,539
Feel pretty comfortable that Aug will see 100 k btc.
.

do you want to put some money on that?


i’m going to predict bitcoin will be less than it currently is today in August.

right now one bitcoin is $44,800

i’ve been wrong this entire time on bitcoin, I’m probably wrong again. lol
 
macgyver

macgyver

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Nov 24, 2011
1,996
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do you want to put some money on that?


I already have....I am not just talking. I doubled my btc position earlier this year, buying at 6, 8, 12, and14. I stopped buying at 14. But recently I sold a pretty expensive car (6 figure) and bought BTC with it in the 50's.

I am not playing around or talking out of my a$$. I actually follow this closely.

I predict 100-125 by July Aug then a pullback. How far....don't know. 50-80.

Then all goes crazy in 2024. 350k+ and if that happens I am 7 figures several times over.

In the meantime, I am earning 2-4k / month in interest.....

Thought about buying 32eth and staking but I am 95% btc with only 10% eth. If I had an "extra" 120k I'd buy more btc.
 
macgyver

macgyver

TID Board Of Directors
Nov 24, 2011
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My prediction..... BTC is following options right now for 'max pain'. This is the whales taking advantage of pressure that Musk placed and them able to exert further sell off (to create opportunity to buy more at discounts).

In the next week or so this should settle out and we will be back at 52 within 2 weeks. That is my call. By no means a guarantee....but just my best guess.

If regains 52 I will make my predictions from there.
 
macgyver

macgyver

TID Board Of Directors
Nov 24, 2011
1,996
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Buying more BTC. Thought about it hard, but (for me) this is a buy opportunity.

If I am wrong...well then I will lose. If I am right, than I will reap the upside.
 
BackAtIt

BackAtIt

MuscleHead
Oct 3, 2016
2,185
668
I've always thought crypto was a pseudo scam, and if it wasn't, then as soon as it started to get real traction, national governments would shut it down as it's such a big threat. I still think there is danger that China and/or US and/or EU will try to regulate it to worthlessness, but as major institutions (such as JP Morgan and Goldman Sachs) have started to get involved, I'm no longer so sure. I'm open to putting maybe 2% of my assets into crypto as a hedge, but I'm likely going to wait until it falls further, and try to buy it at a relative discount.

Isn't Musk an shill?.....I've heard he pulled that stunt so that people will be "begging" for the gov's intervention (regulation)?....

.
 
C

C T J

Crossfit VIP
Jan 24, 2013
2,483
741
=
Here's how you know all the cryptos are going to crash and burn..... I've finally thrown in the towel and bought into a few of them.

Sorry in advance!!! ;)

same haha bought a micro futures contract at 39915 today. low leverage, low risk.
 
macgyver

macgyver

TID Board Of Directors
Nov 24, 2011
1,996
1,672
i’m going to predict bitcoin will be less than it currently is today in August.

right now one bitcoin is $44,800

i’ve been wrong this entire time on bitcoin, I’m probably wrong again. lol


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.
 
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