brutal thread, just lol

even if you hated crypto, any financially literate person would have logically flipped to a neutral or bullish position on it after the Blackrock endorsement

you have no idea about the infinite passive flow of money that will be funnelling into the ETF's, Blackrock the biggest financial giant of current times will absolutely pummel this product down every single one of their investors throats to earn free fee's that will have their executives earning mid-year bonuses that will amount to a greater number than all of us in this thread will earn in our entire lives combined.

and like I said, as long as you are at least financially literate and well-versed on financial matters, you could have completely hated the idea of crypto but after the ETF approval any sane person would have gained exposure

study the GOLD ETF approval date in correlation to the price of GOLD

study the volume flowing into bitcoin ETF's currently compared to the GOLD ETF

study the current AUM of the bitcoin ETF's only 2 months into trading compared to GOLD ETF's aum after 20 years (spoiler its not looking good for GOLD)

study how bitcoin ETF's completely shattered the record for any ETF in history in terms of volume and AUM in any debut time frame (first week, first month, first to $10 bil flows, etc)

study how the entire of Blackrocks offerings (100's of ETF's in their catalogue), IBIT (their bitcoin ETF) makes up currently 43% of Blackrocks entire NET flows for their entire ETF catalogue

study how IBIT is already a top 3 traded ETF on the market by volume

the list can go on, but you do not need to believe in a speculative asset to invest in it, money always has to flow somewhere just remember that, and an endorsement from the biggest financial giants in current times marked the easiest money making machine for anyone who didn't shoot themselves in the foot behind the whole "i refuse, i cant touch it, it has no real value, what can i do with it" just lol cope maxxers

It has 1 value and 1 value only and this is it:...

People think other people will want it and it's USD value will rise.

That's it.

Don't talk to me about currency or the block chain or any of that sh*t. Like 2 people are in bitcoin because they think the block chain is sh*t. It isn't. Stop. If it is thr sh*t, nobody who is buying it knows its the sh*t.

It's sole value comes from buyer sentimate. Period.

If everyone decided they didn't want Google shares anymore, we'll, the company still brings in revenue, so it won't drop to 0.

Bitcoin? Could drop to 0 for fun.

BTC has allowed a new generation, Millenials, Gen Zs to invest and feel like they are really shaping something big. In previous days it was gold, real estate or stocks and shares. The entry point has been high for this for a long time and hence BTC has naturally created a lot of investment due to the low entry barriers. There has been a ton of investment but it is purely speculative. The volatility of it has uncertainty of it has allowed a lot of people to become millionaires and very wealthy.

I just think this bubble will eventually be burst as people realise more and more what is truly happening. There is no end game for bitcoin.. this is what it is, a volatile and speculative investment with no actual tangible value. A ton of people have made money maybe 10-20% while 80% are suffering. Retail customers etc.

Soon these suckers will seek other investments and the BTC train will die. The end goal for the overwhelming amount of BTC holders is to eventually cash out for FIAT currency and pay their mortgage off, go on a holiday, buy a car or some other REAL LIFE chit. Essentially rendering the coin useless. People will slowly realise it's a ponzi and the only people really profiting are the ones at the top.

I lol at people who quote big hedges or AM firms investing in crypto. Ofc they will, with its current ebbs and flow.. it is possible to make money and another way to diversify your business.. it does not think that bitcoin Is about the take over the entire world lol.

It looks like it's already crashing now as people are exiting. Let's see how this plays out now.

Bitcoin isn't going anywhere. If anything the USD collapses before bitcoin does. The USD is no longer backed by anything. (Super Ded fkn Srs)

It will crash for the same reason stocks will eventually crash.

Interest rates.

That said, if it would go down I will expect it to eventually go up again.
Same as with stock markets.

Yeah the US dollar isn't backed by the American stock market, the bond market, our energy production, food production, technology, infrastructure, military, etc etc.

Bitcoin is backed by drug cartels laundering money and retarded zoomers hopes and dreams.

Yeah I'd bet the farm on bitcoin. World governments certainly won't go after the cartels honeypot.

JFL @ buying BTC over SHIB

Some ppl just never learn

To the people who think Bitcoin is this Ponzi scheme going to zero....have any of you truly done a deep dive into it? If you haven't, then i wonder how you do not look inward at yourself and think "maybe I'm missing something and I'm wrong"?

You guys seem so sure of yourself even though its been around for over 14 years now, over a $1 trillion market cap, with major institutions and companies now buying into it. Is there any point where you would change your mind? If another 5 years from now, bitcoin reached $500,000 a piece, and gains even more global adoption, would you change your mind? Or will you still go to your grave saying "it's a ponzi scheme! it's going to zero any day now!" no matter how many years pass?This was addressed earlier, but this issue would a concern for all of our financial systems, not just bitcoin. Though most likely using that same technology, encryption improvements to counter quantum with quantum would exist.

the tether fraud will eventually collapse which will be the catalyst for a drop to 3k, after which it'll slowly drift to zero.

what happens once it gets to 500k? the next target becomes 1 million?
it's a textbook Ponzi scheme where the price must keep rising because it has no use.

In the event of quantum computing for hacking purposes to say intercept the btc I agree we will have safeguards.

I’m talking if they figure out how to use it for mining purposes.

It’s the only real actual risk I see to the asset other than disinterest, which I doubt much more strongly.

It has a use, the price only goes up because inflation causes everything with use to go up. a sandwich used to cost $0.25. Gradually a sandwich now costs $8-15. constant rising price compared to fiat is not itself indicative of a ponzi scheme.

Again, have you done any sort of research to look at the use case of bitcoin or any crypto?

You mean all these trillion dollar pension funds will all sell everything they have?


Misc is a special place.


And on top of that you’re wrong about the “greater fool” theory.

keep talking while our wallets keep climbing ayyyyyyyyyyyyLMAO

wow a thread full of 2018 talking points

yikes

It doesn't have a central bank diluting its value. That's number one for me.

That ^^^

Wrong

Please read up on what a ponzi schemeactually is.







https://www.coindesk.com/markets/202...-ponzi-scheme/

I've not seen such levels of normie cope in quite a few years.

Evenifyou are correct, why would you not want to make some money along the way? Google the term 'stop loss'.

His claim is that buttcorn is nothing but a ponzi scheme and whoever says it's anything else is just lying to themselves. I buy and hope that someone buys it from me later at a much higher price.

Have you seen the intelligence level of an average person? Now imagine them understanding what a blockchain is or what it does. Until someone can explain it on a regarded level, it won't gain mass adoption by people or countries that actually have a say on a global level (nobody cares about El Salvador & CAR).

1 bitcoin transaction costs the same amount of energy as an average household does in a month in the US. There isn't enough energy to go around to get billions using buttkorn as it stands.

Now if some buttcoin fanatic came to me and said exactly what you just said - just buy low and try to sell higher to a greater fool - then that explanation would be perfectly fine. It's just funny when people start talking about web 4.0, blockchains, ethereum L2, garbled circuits etc. when most people have no clue how to even create a wallet or buy crypto.

Takes a few hours of reading to understand why BTC isn't going anywhere but up:

this whole statement proves to everyone ITT you know F all about bitcoin and its purpose. There is no asset in the history of civilization that has outperformed bitcoin. Gold? are you fn serious? Gold has done F all for centuries.

You clearly do not understand the concept of bear and bull markets as it relates to crypto. "Oh mer gurd you mean I need to sell in a bull to make a profit?" Bitcoin has a store of value bc it has a fixed supply/cap. It cannot be inflated forever by digging up more or unlimited printing. "Oh my gerd btc at ATH...everyone that has ever bought bitcoin is now in profit....no one should sell to get profit or decide to get out". That's how dumb you sound. Governments are endorsing it, not banning...how big is that rock you're under? It is literally un-bannable....do you even blockchain/decentralized finance?

My lowest buys were 3k...tell me how much better I'd be off by buying gold with that 3k just lmfao.brainlet tier IQ.

>muh Stanley cup isn't worth 200 dollarinos next year. Ponzi Scheme 101.

Keep coping nocoiners

If you are too retarded to understand BTC and Alts, just stick to NFT's and stake themI would recommend buying Galactic with LUNA, stake them on Enterprise through Terra Station and watch those rewards come piling in.

Now that the major players (Blackrock, State Street, Vanguard, etc.) are supporting BTC I would not be betting against its demise in the near term. As 2008 reminded us again, a market can stay irrational longer than you can stay solvent. You have to not only be right but also have the right timing.

Well that's just the problem. You're using your success with btc as justification as to why it is legitimate. There are thousands of examples of speculative investments that have failed, ie penny stocks. This one just so happens to declare itself a currency.

Can you make money off of speculation? Absolutely. Can you lose money, absolutely. Ponzi schemes work until they don't. In this case its easy to see that BTC has no intrinsic value. That is and always has been false.

Miners were eating the cost of transactions but once btc is solved then debits will cost money, so not even that will be free.

Op thinks he's smarter than Larry Fink, stay seething nocoin-cels

Still in the very early adoption phase but you do you OP, stay away.

"JUST IN: Arizona State Senate is considering adding #Bitcoin ETFs to its state retirement portfolios."

doesn't larry fink often devise schemes to rip others off? Not exactly a great example.

BTC is a fiat currency. It is not commodity backed. It can still experience inflation through reduction in adoption rate. It solves none of the issues with fiat, thus is effectively no different.

Investment banks, analysts, etc buying into something is definitely not an endorsement of that thing lol and the big bois will come out on top in the end, they just see it as a new way to bilk money out of normies

like people playing crazy amounts of options while Ken Griffin just keeps adding stories to his new mansion in Palm Beach

This guy gets it

make money when you can, but that doesn't make it a currency lmao

Hell even if it lasts another 1k years that just proves humans are retarded srs

In a very real way, we're just testing human nature, not currency