Bitcoin pushing $70k...

[xxclaro]

Hopefully some fortunate souls here got a bag of it they bought some time ago. Curious to see how high this will go. Any predictions?

[fishtank]

i dont have any bitcoins, but i do have 3 ticket to tonights lottomax

[Zip]

Originally Posted by fishtank

i dont have any bitcoins, but i do have 3 ticket to tonights lottomax

Darn....I only have one ticket for tonight..now my odds just got worse..
Zip

[Atex]

Originally Posted by xxclaro

Hopefully some fortunate souls here got a bag of it they bought some time ago. Curious to see how high this will go. Any predictions?

I heard $220k US by the end of the year... there's a lot of FOMO happening out there. There will be corrections on the way of course. How high can it go ? It could go to a million (or more) or down to zero, will depend how governments will position themselves in the future. Pretty sure will try to tax gains on it, if it gets adopted or ban it outright and crack down its users. Will see what happens.

[fishtank]

Originally Posted by Atex

I heard $220k US by the end of the year... there's a lot of FOMO happening out there. There will be corrections on the way of course. How high can it go ? It could go to a million (or more) or down to zero, will depend how governments will position themselves in the future. Pretty sure will try to tax gains on it, if it gets adopted or ban it outright and crack down its users. Will see what happens.

bitcoin, where people can hide their wealth anonymously . like the swiss bank account then Uncle sam crashed the party .

also it uses the same amount of energy per year as Argentina, think of the carbon tax bill on that .

[ehrgeiz]

Originally Posted by Atex

I heard $220k US by the end of the year... there's a lot of FOMO happening out there. There will be corrections on the way of course. How high can it go ? It could go to a million (or more) or down to zero, will depend how governments will position themselves in the future. Pretty sure will try to tax gains on it, if it gets adopted or ban it outright and crack down its users. Will see what happens.

Outright ban is improbable, irrational and would be impossible, however it could adversely affect price finding depending on which region and which Government(s). I'd agree, attempting to identify and tax is most likely. Whatever tax scheme they develop is also likely to be mostly unsuccessful for those who have no interest in exchanging for fiat.

If history repeats itself a significant pull back is more than likely, but we're also living in a bizarre time where western Governments and their banks are willfully destroying the value of their currency through unprecedented stimulus. In that context, who knows, could just keep climbing for a while.

[Red Bullets]

To think I was considering buying a thousand bitcoins when they were at 8 bucks and going up in 2011. Bitcoins went up to 32 dollars and then dropped out to 2 bucks a few months later. And then I was glad I hadn't bought in. Now would have been wow.

One fellow I know bought 10 bitcoins when they were at 3K each. Hope he is smart enough to sell them. Lots of people get greedy and hold on too long.

[Austin]

I just checked,,,is at $72k now

[zabbo]

Originally Posted by Austin

I just checked,,,is at $72k now

Where are you seeing $72k? The chart I've been watching shows as low as $43k end of February high of $62 k mid March and currently $53k. That is US dollars. I know absolutely nothing about this stuff. A buddy of mine told me to jump in a couple years back when it was $5k. Wish I had now!

[Adamson121]

Originally Posted by Austin

I just checked,,,is at $72k now

I agree with zabbo, lol. The peak for march was just about 63k. I was literally staring at my phone when it was soaring a few weeks back. I remember because I sadly sold mine at only 60k. and when I checked back, it's around 62/63k already.

[buckbrush]

Originally Posted by Red Bullets

To think I was considering buying a thousand bitcoins when they were at 8 bucks and going up in 2011. Bitcoins went up to 32 dollars and then dropped out to 2 bucks a few months later. And then I was glad I hadn't bought in. Now would have been wow.

One fellow I know bought 10 bitcoins when they were at 3K each. Hope he is smart enough to sell them. Lots of people get greedy and hold on too long.

72 million would have been fun.

[fishtank]

Originally Posted by buckbrush

72 million would have been fun.

you know what a pizza cost ?

[Savage Bacon]

I sold my bitcoin yesterday. What's left of my money was in my bank this morning.

Sent from my SM-G970W using Tapatalk

[fishtank]

With derivatives it’s whole different ball game, max pains and max gains .
Some crypto exchange allow 20-100x. And a few probably higher on certain crypto

[Ken07AOVette]

Originally Posted by Savage Bacon

I sold my bitcoin yesterday. What's left of my money was in my bank this morning.

Sent from my SM-G970W using Tapatalk

did you sell any when it was at $70g?

[Roderek]

Originally Posted by Ken07AOVette

did you sell any when it was at $70g?

If you weren't taking profit along the way you were doing it wrong, so I hope he did.

[Savage Bacon]

Originally Posted by Ken07AOVette

did you sell any when it was at $70g?

Nope that's when I bought it.

Sent from my SM-G970W using Tapatalk

[Pathfinder76]

Who thought it was a good idea to put non regulated pretend money in your wallet?

[troutbug]

Originally Posted by Pathfinder76

Who thought it was a good idea to put non regulated pretend money in your wallet?

I sure did because I turned that into CAD and now it is real money. And even with the crash I am still making money. Kinda how I do in stocks as well

[Dean2]

Originally Posted by Savage Bacon

Nope that's when I bought it.

Sent from my SM-G970W using Tapatalk

Now that blows like the big Magilla Gorilla for sure. Very sorry to hear that. Never like to see anyone lose money. It is too hard to make in the first place.

[Armorman]

I always said the charts looked eerily similar to the weed stocks....

Sent from my Pixel 3 XL using Tapatalk

[Selkirk]

.
As of 2day, Bitcoin is still floatin' around $20K USD 👉 https://www.google.com/finance/quote/BTC-USD

I don't invest in the stuff, but it sure is entertaining to watch ... especially when it takes a BIG Dive,
and the 'Wetting-Of-The-Pants' begins.

Selkirk

[fishnguy]

[fishtank]

Originally Posted by fishnguy

FTX won’t save em, they must have get first dibs to look at the books, must be lots of skeletons in the closet …

[Dean2]

Anyone who hasn't got their coin out of the exchanges and into a wallet they control is very likely to lose it all. I would sell and take that loss
while I could before I left it in an exchange. Feel sorry for all those that got scammed. Easy to say you should know better but hard for many to resist the urge of what looks like easy money.

[fishtank]

the next term they like to used is “industry consolidation” ….

Quadriga ceo was ahead of everyone in the industry …https://www.businessinsider.com/indi...ays-2022-7?amp

[fishnguy]

Originally Posted by fishtank

FTX won’t save em, they must have get first dibs to look at the books, must be lots of skeletons in the closet …

The Securities and Exchange Commission said on Monday it charged 11 people for their roles in creating and promoting a fraudulent crypto pyramid and Ponzi scheme that raised over $300 million from retail investors worldwide, including in the United States.

Those charged included the four founders of the scheme named Forsage. They were last known to be living in Russia, the Republic of Georgia, and Indonesia, the SEC said in a statement.

According to the SEC's complaint, the scheme's website was launched in January 2020 and allowed millions of retail investors to enter into transactions via smart contracts. It allegedly operated as a pyramid scheme for more than two years, in which investors earned profits by recruiting others into the scheme, the SEC said.

Forsage also allegedly used assets from new investors to pay earlier investors in a typical Ponzi structure, the SEC complaint added.

"Forsage is a fraudulent pyramid scheme launched on a massive scale and aggressively marketed to investors," said Carolyn Welshhans, acting chief of the SEC's Crypto Assets and Cyber unit. "Fraudsters cannot circumvent the federal securities laws by focusing their schemes on smart contracts and blockchains."

Without admitting or denying the allegations, two of the defendants agreed to settle the charges and one of them agreed to pay penalties, the SEC said.

[elkslayer132]

Crypto is making a comeback now 5 of my coins are almost at even and etherium I am making money off it now.

[bdub]

“It’s partly fraud and partly delusion. That’s a bad combination. I don’t like either fraud or delusion, and the delusion may be more extreme than the fraud.”

Munger added that he does not believe crypto is a real asset—and it should have never been allowed.

“This is a very, very bad thing,” Munger said. “The country did not need a currency that was good for kidnappers…There are people who think they’ve got to be on every deal that’s hot. They don’t care whether it’s child prostitution or bitcoin. If it’s hot they want to be on it. I think that’s totally crazy.”

"Good ideas, carried to wretched excess, become bad ideas," Munger said. "Nobody's gonna say I got some s*** that I want to sell you.

Recent take from Charlie Munger lol


Sent from my iPhone using Tapatalk

[Roderek]

Originally Posted by bdub

“It’s partly fraud and partly delusion. That’s a bad combination. I don’t like either fraud or delusion, and the delusion may be more extreme than the fraud.”

Munger added that he does not believe crypto is a real asset—and it should have never been allowed.

“This is a very, very bad thing,” Munger said. “The country did not need a currency that was good for kidnappers…There are people who think they’ve got to be on every deal that’s hot. They don’t care whether it’s child prostitution or bitcoin. If it’s hot they want to be on it. I think that’s totally crazy.”

"Good ideas, carried to wretched excess, become bad ideas," Munger said. "Nobody's gonna say I got some s*** that I want to sell you.

Recent take from Charlie Munger lol


Sent from my iPhone using Tapatalk

Warren Buffet has also been on the record as being averse to tech stocks as he is a novice and does not understand them. So it does not surprise me that Munger would have a similar stance on it. Crypto is tech!

https://markets.businessinsider.com/...0-1-1028845920

I doubt we will ever get to hear if he regrets not investing in Crypto, since he is 92 years old and we are likely another decade or more away from it being mainstream. Only time will tell.

Personally, I have read enough that I believe Crypto is here to stay. I still invest the majority of my money through conventional methods, Stocks, and real estate, but started putting a little bit towards crypto over the last few years. I did pretty well when I first started and I did take some profits, so I never lost money although, most of what I left in are now way down. They are all solid projects that will bounce back. So for the next year and a bit I will hold them and continue to stack at discounted prices.