Log In

Your email is not your username

Register

If you were a member of the old Bodybuilding.com forums and would like to reuse your previous username, you can request it below. We use your email only for registration and do not store it. For more information, please see our Privacy Policy.

Confirm your email

A registration code was sent to your email. Enter it here.

Welcome

You have successfully setup your account.

Sign in

Quick Navigation Bottom Misc
Forum » I still think BTC is going to zero, unless someone can tell me....
  1. Results 1 to 30 of 191
  2. Page 1 of 7
  3. 1
  4. 2
  5. 3
  7. Last

Thread: I still think BTC is going to zero, unless someone can tell me....

post 1698769623 03-05-2024, 11:03 AM
-
#1
  1. LinuxJon
  1. LinuxJon
  3. Join Date: Apr 2014
  4. Location: California, United States
  5. Posts: 49,073
  6. Rep Power: 325966

I still think BTC is going to zero, unless someone can tell me....

Wtf asset class it's supposed to be.

Currency? Okay. Show me who is actually buying and selling using BTC as the native payment method. Could your parents pay their mortgage or buy their groceries in BTC?

Okay so not currency. It's a commodity then, right? Okay. What is its utility? Because something can't be a commodity if it's only used as a store of value.

If you say blockchain is the utility, that's fine too. Except BTC doesn't own blockchain and its uses for other things has no benefit to BTC.

You're left with this being a fully speculative investment. Which is exactly how things go to zero.
480s / 370b / 495d / 235 x 2 SOHP

Trump 2020
DeSantis 2024
Catbrah 2032

Misc Firearms Crew
Misc Wristwatch Crew
Will sell wife's foot pics for watch/gun money crew
Definitely not a fed crew
post 1698769733 03-05-2024, 11:05 AM
-
#2
  1. CanuckGame
  2. Registered User
  1. CanuckGame
  2. Registered User
  3. Join Date: Dec 2011
  4. Age: 37
  5. Posts: 16,732
  6. Rep Power: 131383
Keep coping nocoincel.
post 1698769853 03-05-2024, 11:07 AM
-
#3
  1. crupiea
  2. Lifetime Member
  1. crupiea
  2. Lifetime Member
  3. Join Date: Aug 2006
  4. Location: San Diego, California, United States
  5. Posts: 42,878
  6. Rep Power: 232216
I dont think it will because criminals and politicians and such need it for money laundering purposes.

It will hang around as long as they have a need for it which will be a very long time most likely.
"To be a warrior is not a simple matter of wishing to be one. It is rather an endless struggle that will go on to the very last moment of our lives. Nobody is born a warrior, in exactly the same way that nobody is born an average man. We make ourselves into one or the other."-- Carlos Castaneda
post 1698769873 03-05-2024, 11:07 AM
-
#4
  1. kusok
  2. Registered User
  1. kusok
  2. Registered User
  3. Join Date: Sep 2009
  4. Posts: 47,722
  5. Rep Power: 231370
In an entire country El Salvator, it’s actual currency.

It’s a store of value. To protect yourself against dollar debasement. Since bitcoin supply is limited.

BlackRock, biggest money runners on Earth, with trillions of dollars under management, would not offer an ETF if there was a chance of this going to zero. It has a long track record by now.
post 1698769883 03-05-2024, 11:07 AM
-
#5
  1. artm
  2. bratski
  1. artm
  2. bratski
  3. Join Date: Apr 2008
  4. Location: Chicago, Illinois, United States
  5. Age: 36
  6. Posts: 7,128
  7. Rep Power: 14085
I'm not a coincel but I think it will go higher, people are dropping money into it because of fomo.
♂Nice Ass Crew♀

What doesn't kill you makes you stronger.
I rape back (if you ask me to :P)
post 1698769943 03-05-2024, 11:08 AM
-
#6
  1. Kiop
  2. ™gif me so i can gif you©
  1. Kiop
  2. ™gif me so i can gif you©
  3. Join Date: Nov 2015
  4. Posts: 55,724
  5. Rep Power: 222392
we cant guarantee our
selfs if we will be alive
or healthy by tomorrow or after couple of days.
so your point of view is valid,enjoy it as it last.
in the ass.
post 1698769963 03-05-2024, 11:09 AM
-
#7
  1. kusok
  2. Registered User
  1. kusok
  2. Registered User
  3. Join Date: Sep 2009
  4. Posts: 47,722
  5. Rep Power: 231370
Originally Posted By crupiea⏩
I dont think it will because criminals and politicians and such need it for money laundering purposes.

It will hang around as long as they have a need for it which will be a very long time most likely.
Money laundering is much easier done with dollars. Terrorists regularly appeal to their supporters to NOT help them with crypto donations, since it’s all on-chain, and transparent.
post 1698770063 03-05-2024, 11:09 AM
-
#8
  1. omnip0tent
  2. Don't try. Do.
  1. omnip0tent
  2. Don't try. Do.
  3. Join Date: Mar 2007
  4. Location: Florida, United States
  5. Age: 36
  6. Posts: 12,680
  7. Rep Power: 70129
Originally Posted By LinuxJon⏩
Wtf asset class it's supposed to be.

Currency? Okay. Show me who is actually buying and selling using BTC as the native payment method. Could your parents pay their mortgage or buy their groceries in BTC?

Okay so not currency. It's a commodity then, right? Okay. What is its utility? Because something can't be a commodity if it's only used as a store of value.

If you say blockchain is the utility, that's fine too. Except BTC doesn't own blockchain and its uses for other things has no benefit to BTC.

You're left with this being a fully speculative investment. Which is exactly how things go to zero.
I think its usefullness is kinda like the 2A. None of us are killing intruders or criminals daily. But the fact that its our right and would be our force/violence multiplier against other potential violence/force actors makes it something that will never die.

Same with Coins. Decentralized currency not controlled by the banks or govt? The idea will never die as long as we have electricity.
Are you not entertained?

MFC #32

It's All About the U
post 1698770453 03-05-2024, 11:18 AM
-
#9
  1. HMFIC_BROWSIN
  2. Buy high, sell higher.
  1. HMFIC_BROWSIN
  2. Buy high, sell higher.
  3. Join Date: Feb 2009
  4. Location: Arizona, United States
  5. Posts: 73,524
  6. Rep Power: 348838
I believe crypto is setting up for the largest black swan event ever seen in the history of financial markets.

I understand all your points OP, but let's say there's some backdoor code written in that allows a complete hack & purge of the coins, and let's say AI decodes this fault, and sends all the chitcoins to literally zero.....

Would ANYBODY actually be surprised? No, no they wouldn't.

In b4 "hurrrrrr you obviously are retarded because that's impossible!"

Do yourself a favor and Google "black swan event"
post 1698770493 03-05-2024, 11:19 AM
-
#10
  1. Titansfan08
  2. Registered User
  1. Titansfan08
  2. Registered User
  3. Join Date: Mar 2010
  4. Location: Missouri, United States
  5. Age: 36
  6. Posts: 27,644
  7. Subscribers: 3
  8. Rep Power: 442784
Inb4 hair set one fire once again
post 1698770743 03-05-2024, 11:25 AM
-
#11
  1. ThatGuy950
  2. Floridayyy
  1. ThatGuy950
  2. Floridayyy
  3. Join Date: Sep 2007
  4. Location: Turks and Caicos Islands
  5. Posts: 15,255
  6. Rep Power: 171546
Originally Posted By HMFIC_BROWSIN⏩
I believe crypto is setting up for the largest black swan event ever seen in the history of financial markets.

I understand all your points OP, but let's say there's some backdoor code written in that allows a complete hack & purge of the coins, and let's say AI decodes this fault, and sends all the chitcoins to literally zero.....

Would ANYBODY actually be surprised? No, no they wouldn't.

In b4 "hurrrrrr you obviously are retarded because that's impossible!"

Do yourself a favor and Google "black swan event"
I’m a dedicated coincel but I agree, this is certainly possible.

I’m curious how the rise od quantum computing will hit crypto, probably some supercomputers in a few years will have the capability to break it all and zero it out overnight
Coincel
Florida crew (lol at coldcels)
post 1698770993 03-05-2024, 11:31 AM
-
#12
  1. LinuxJon
  1. LinuxJon
  3. Join Date: Apr 2014
  4. Location: California, United States
  5. Posts: 49,073
  6. Rep Power: 325966
Originally Posted By CanuckGame⏩
Keep coping nocoincel.
Bro I bought four Rolexes last year. I'm doing fine. lol
480s / 370b / 495d / 235 x 2 SOHP

Trump 2020
DeSantis 2024
Catbrah 2032

Misc Firearms Crew
Misc Wristwatch Crew
Will sell wife's foot pics for watch/gun money crew
Definitely not a fed crew
post 1698771263 03-05-2024, 11:37 AM
-
#13
  1. LinuxJon
  1. LinuxJon
  3. Join Date: Apr 2014
  4. Location: California, United States
  5. Posts: 49,073
  6. Rep Power: 325966
Originally Posted By kusok⏩
In an entire country El Salvator, it’s actual currency.

It’s a store of value. To protect yourself against dollar debasement. Since bitcoin supply is limited.

BlackRock, biggest money runners on Earth, with trillions of dollars under management, would not offer an ETF if there was a chance of this going to zero. It has a long track record by now.
Why would BlackRock care? They have the insider knowledge to beat the market on absolutely any investment. They also only hold $500m worth of coins... out of $10t assets under management. So 0.5% of their portfolio. That's like the average American holding $500 of BTC in their $100k IRA. If it went to zero they wouldn't even notice.
480s / 370b / 495d / 235 x 2 SOHP

Trump 2020
DeSantis 2024
Catbrah 2032

Misc Firearms Crew
Misc Wristwatch Crew
Will sell wife's foot pics for watch/gun money crew
Definitely not a fed crew
post 1698771323 03-05-2024, 11:38 AM
-
#14
  1. MarioMiami305
  1. MarioMiami305
  3. Join Date: Jul 2022
  4. Age: 56
  5. Posts: 13,779
  6. Subscribers: 2
  7. Rep Power: 179
It's literally a speculative asset that is used by gamblers to trade on their phones with. That's why the dumps are glorious. Check out the dump that just happened from 68k to 63k that happend 30 minutes ago.

It is 100% going to be severely regulated by goverments or outright banned and it will go to zero.

It went from 71k to 10k three years ago.

Nothing but a ponzi scheme and retailers will hold the bags again.

Its not recession proof like gold and it will be the first asses sold off in a financial crisis or recession - something it markets itself as a safe haven for.

Gold is still the best assest for protection and it's on the path for a huge bull rally. 5k within 5 years. mark it. 2400 oz by end of year.
-germ theory is 100% fake
-raw meat , raw eggs , raw butter, raw milk everyday crew
-no alcohol crew
-moisturize with butter and wash face with milk crew
post 1698771583 03-05-2024, 11:43 AM
-
#15
  1. baldbrah
  2. MGTOW Atheist
  1. baldbrah
  2. MGTOW Atheist
  3. Join Date: Jun 2023
  4. Posts: 6,852
  5. Rep Power: 31265
It's the definition of a ponzi scheme.
post 1698771603 03-05-2024, 11:43 AM
-
#16
  1. LinuxJon
  1. LinuxJon
  3. Join Date: Apr 2014
  4. Location: California, United States
  5. Posts: 49,073
  6. Rep Power: 325966
Originally Posted By ThatGuy950⏩
I’m a dedicated coincel but I agree, this is certainly possible.

I’m curious how the rise od quantum computing will hit crypto, probably some supercomputers in a few years will have the capability to break it all and zero it out overnight
Quantum computing is still a pipe dream at this point. But if it ever does happen, BTC will only be one small part of the problem. The real problem is that it could immediately break AES and RSA encryption that traditional banks use. Meaning that all of the ways we currently store and move money would be useless.


I actually think that- if it was to actually work- quantum computing would be worse than AI in terms of a threat to humanity. Our entire existence right now relies on encryption. From banking to email to nuke launch procedures.
480s / 370b / 495d / 235 x 2 SOHP

Trump 2020
DeSantis 2024
Catbrah 2032

Misc Firearms Crew
Misc Wristwatch Crew
Will sell wife's foot pics for watch/gun money crew
Definitely not a fed crew
post 1698772293 03-05-2024, 11:58 AM
-
#17
  1. sf813
  2. Registered User
  1. sf813
  2. Registered User
  3. Join Date: Jan 2016
  4. Posts: 6,637
  5. Rep Power: 36130
I don't think the main governments would allow bitcoin and it'll be nothing more than a speculative bubble before collapsing like the past Dutch tulip bulb market bubble which collapsed

Govts want to track where money goes and tax it every chance they get so they will not allow some digital currency to get a footing
post 1698772313 03-05-2024, 11:58 AM
-
#18
  1. kusok
  2. Registered User
  1. kusok
  2. Registered User
  3. Join Date: Sep 2009
  4. Posts: 47,722
  5. Rep Power: 231370
Reading this thread makes it clear, some people don’t want to make money, nor learn from history, it’s fine. Carry on. Buy 4 Rolexes. Whatever makes you happy.
post 1698772473 03-05-2024, 12:02 PM
-
#19
  1. 6gorillion
  2. Registered User
  1. 6gorillion
  2. Registered User
  3. Join Date: Oct 2023
  4. Age: 56
  5. Posts: 4,536
  6. Rep Power: 29697
Originally Posted By kusok⏩
Reading this thread makes it clear, some people don’t want to make money, nor learn from history, it’s fine. Carry on. Buy 4 Rolexes. Whatever makes you happy.
dude buys a Rolex but drives a Subaru, you think hes smart?
post 1698772753 03-05-2024, 12:08 PM
-
#20
  1. Destor
  2. Registered User
  1. Destor
  2. Registered User
  3. Join Date: Apr 2012
  4. Location: Alberta, Canada
  5. Age: 41
  6. Posts: 43,481
  7. Rep Power: 254906
At least you can wear watches and appreciate the work / craftsmanship that go into them, but they're also largely used as stores of value and for speculation these days

I have a hard af time buying into any non-productive asset
post 1698773013 03-05-2024, 12:12 PM
-
#21
  1. Berts
  2. Registered User
  1. Berts
  2. Registered User
  3. Join Date: May 2003
  4. Location: Boise Idaho
  5. Age: 46
  6. Posts: 8,821
  7. Rep Power: 44209
Its a store of value which you don't need anything physical, its all about perception and even the SEC perceives BTC as a asset and store of value. Spot ETF. BTC for a brief moment today flipped silver for market cap. Keep not believing but if you are not buying crypto with money you can afford to lose, you are doing it wrong.
post 1698773093 03-05-2024, 12:14 PM
-
#22
  1. kusok
  2. Registered User
  1. kusok
  2. Registered User
  3. Join Date: Sep 2009
  4. Posts: 47,722
  5. Rep Power: 231370
Originally Posted By MarioMiami305⏩
It's literally a speculative asset that is used by gamblers to trade on their phones with. That's why the dumps are glorious. Check out the dump that just happened from 68k to 63k that happend 30 minutes ago.

It is 100% going to be severely regulated by goverments or outright banned and it will go to zero.

It went from 71k to 10k three years ago.

Nothing but a ponzi scheme and retailers will hold the bags again.

Its not recession proof like gold and it will be the first asses sold off in a financial crisis or recession - something it markets itself as a safe haven for.

Gold is still the best assest for protection and it's on the path for a huge bull rally. 5k within 5 years. mark it. 2400 oz by end of year.
Be careful. I did all the same nonsense when I was your age, listened to Ron Paul, bought Gold etc. I would literally be worth 100 mil today if I simply bought some bitcoin and held. No need to sell or even check the market. Just hold. Don’t make my mistakes.
post 1698773223 03-05-2024, 12:17 PM
-
#23
  1. MarioMiami305
  1. MarioMiami305
  3. Join Date: Jul 2022
  4. Age: 56
  5. Posts: 13,779
  6. Subscribers: 2
  7. Rep Power: 179
Originally Posted By kusok⏩
Be careful. I did all the same nonsense when I was your age, listened to Ron Paul, bought Gold etc. I would literally be worth 100 mil today if I simply bought some bitcoin and held. No need to sell or even check the market. Just hold. Don’t make my mistakes.
Ponzi scheme 101.

1.Tell people how great BTC and to buy it.

2.Pump the price up so it goes up

3.Sell BTC to the sucker who bought it at a high price for USD to get rich

Ponzi scheme 101,.
-germ theory is 100% fake
-raw meat , raw eggs , raw butter, raw milk everyday crew
-no alcohol crew
-moisturize with butter and wash face with milk crew
post 1698773443 03-05-2024, 12:22 PM
-
#24
  1. Destor
  2. Registered User
  1. Destor
  2. Registered User
  3. Join Date: Apr 2012
  4. Location: Alberta, Canada
  5. Age: 41
  6. Posts: 43,481
  7. Rep Power: 254906
You need to sell things to actually do good things in the real world. People generally shouldn’t be taking loans out against stock holdings because volatility etc can lead to margin calls that result in forced selling at bad times — this is exactly what happened to a bunch of people I talk to who were heavy in Tesla

But I’d be surprised if lenders are allowing any debt to be collateralized against crypto
post 1698773833 03-05-2024, 12:30 PM
-
#25
  1. 8pieces
  2. Make The Misc Great Again
  1. 8pieces
  2. Make The Misc Great Again
  3. Join Date: Jan 2020
  4. Posts: 32,196
  5. Subscribers: 3
  6. Rep Power: 118685
i think it will keep going up and they will do something by law to make the price drop drastically similar to covid but worse. to think the government will allow an unregulated currecency with trillions of dollars exist is hilarious. they are going to screw everyone. but the entire purpose of the currency was that but most holders are boot lickers and will fear what the government will do
post 1698774283 03-05-2024, 12:38 PM
-
#26
  1. mulletwarrior
  2. Registered User
  1. mulletwarrior
  2. Registered User
  3. Join Date: Nov 2013
  4. Age: 41
  5. Posts: 13,586
  6. Rep Power: 99233
Its a collectible, like art, baseball cards, rare coins, etc.

DFS
mo e
post 1698774473 03-05-2024, 12:41 PM
-
#27
  1. DrugsToGetBig
  2. So it begins
  1. DrugsToGetBig
  2. So it begins
  3. Join Date: Jun 2012
  4. Location: New Jersey, United States
  5. Age: 33
  6. Height: 6'1"
  7. Weight: 220 lbs
  8. Posts: 38,433
  9. Subscribers: 4
  10. Rep Power: 411438
jfl


yeah itll be going to zero any day now


*Forever Alone Crew*
*Neg FireofAss Crew on SIGHT Crew*
post 1698774543 03-05-2024, 12:46 PM
-
#28
  1. Duckliver
  2. Offal
  1. Duckliver
  2. Offal
  3. Join Date: Jun 2013
  4. Location: Washington, United States
  5. Posts: 32,148
  6. Rep Power: 346618
It will go to zero when quantum computing can instantly solve the equations

We are far away from that point I do believe

But that will kill it, until technology catches up to that point it’s fine. But quantum computing on that level would end its relevance.
post 1698774793 03-05-2024, 12:56 PM
-
#29
  1. mixednutz
  2. Registered User
  1. mixednutz
  2. Registered User
  3. Join Date: Feb 2013
  4. Posts: 1,544
  5. Rep Power: 8811
If you are really serious about it OP; read or listen to the book "The Bitcoin Standard".
post 1698774813 03-05-2024, 12:57 PM
-
#30
  1. Berts
  2. Registered User
  1. Berts
  2. Registered User
  3. Join Date: May 2003
  4. Location: Boise Idaho
  5. Age: 46
  6. Posts: 8,821
  7. Rep Power: 44209
I think what people love about BTC is it has a cap on supply, and its worldwide. Its scarce and will scarce forever. Once BTC has 21 mil mined, that's it forever. Unlike the US Fiat Dollar that we keep printing and literally giving away trillions of it to random counties and people. Same with a CBDC, the government will be able to make more as they wish when they wish. Full control of your money.

I'm not a BTC homer, I do not have any. I like Alts because there are some insane ecosystems. Thousands of Dapps, tons of DEX's, etc. Blockchain tech is amazing and interesting.

People love they control it, its instant and the fees are crazy low for most Alts. Which is what currency should be. Why in 2024 does it take days to send money and on top of that you have to pay a bank a fee. It's insane. I'm talking real money, not $100.
Quick Navigation Top Misc
Bookmarks
Digg.com
Digg
del.icio.us
del.icio.us
Stumbleupon.com
StumbleUpon
Google.com
Google
Facebook.com
Facebook
Posting Permissions
  1. You may not post new threads
  2. You may not post replies
  3. You may not post attachments
  4. You may not edit your posts