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

[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 ?

[Reeves1]

Wonder what will happen to bitcoin......some banks and/or countries are talking about making their own ....?

[fishtank]

Originally Posted by Reeves1

Wonder what will happen to bitcoin......some banks and/or countries are talking about making their own ....?

thats what drive it up as well , governments are taking notice and are playing catch up to it ...

its like banksy's art before it was view as graffiti vadalism by authority ... now it mainstream modern art pieces.

[tbiddy]

Originally Posted by fishtank

you know what a pizza cost ?

In 2010 somebody paid for 2 Papa John’s pizzas for 10,000 bitcoins. Well, he gave somebody 10,000 bitcoins and that person bought him 2 large pizzas. At today’s price it comes out to $717,250,000 for two pizzas! It would be amazing if that person held onto to those 10,000 coins but I highly doubt anybody would hold onto them that long.

[xxclaro]

I think its a bit of the old "if you can't beat em, join em" going on. The banks and some governments realize you can't really put a stop to it, and the utility is there, so best they can do is make their own crypto and hope it gets traction.

[350 mag]

DeFi baby DeFi....




Customers of traditional banks expect to be paid interest on their savings and a handful of digital currency platforms are following suit by paying their customers interest on the coins and tokens they store in their wallets. In the U.S., high annual percentage yield (APY) savings accounts typically earn interest at a rate of approximately 2.15%, while standard checking and savings accounts earn far less at approximately 0.01% APY. Digital currency platforms, however, typically pay more interest.

If investors can withstand the wild swings typical of cryptocurrencies, there’s more to be earned in interest on their savings than at a typical bank.

Below are five cryptocurrency platforms that allow you to earn interest on your coins and tokens.

Celsius Network: Storing Bitcoin (BTC) or other cryptocurrencies in a Celsius account can earn anywhere between 3% and 18.55% interest depending on the currency.

Celsius pays users interest back in the coin being saved, which then compounds over time. Celsius pays 6.20% APY for Bitcoin, 6.61% APY for Ethereum (ETH) and 13.86% APY for Tether (USDT). It also allows customers the choice to be paid in Cel tokens (Celsius’ own coin) at an even greater rate. If a customer chooses to receive interest on their cryptocurrency savings in Cel tokens, they then receive 30% more rewards on other holdings.


Right now you can make

16% on USD stable coin.

7% on PaxG (Gold token)

6% on Bitcoin.

In past year Celsius has paid out 250 million in rewards to their members.

I joined Celsius in April 2020. Bought BTC then. Also bought CEL token.(which went up 35x)....and was best performing asset on the planet in 2020....

I will NEVER sell all my BTC. Will take some profits.

Weak hands(retail) are selling to Strong hands(institution s)

Celcius also offers its members 1% loans AGAINST their crypto deposits.(platinum memebers get further 30% discount).

To gain high interest and platinum membership you have to have 25% of account in CEL tokens.



https://m.benzinga.com/article/19430....google.com%2F

[xxclaro]

Originally Posted by 350 mag

DeFi baby DeFi....




Customers of traditional banks expect to be paid interest on their savings and a handful of digital currency platforms are following suit by paying their customers interest on the coins and tokens they store in their wallets. In the U.S., high annual percentage yield (APY) savings accounts typically earn interest at a rate of approximately 2.15%, while standard checking and savings accounts earn far less at approximately 0.01% APY. Digital currency platforms, however, typically pay more interest.

If investors can withstand the wild swings typical of cryptocurrencies, there’s more to be earned in interest on their savings than at a typical bank.

Below are five cryptocurrency platforms that allow you to earn interest on your coins and tokens.

Celsius Network: Storing Bitcoin (BTC) or other cryptocurrencies in a Celsius account can earn anywhere between 3% and 18.55% interest depending on the currency.

Celsius pays users interest back in the coin being saved, which then compounds over time. Celsius pays 6.20% APY for Bitcoin, 6.61% APY for Ethereum (ETH) and 13.86% APY for Tether (USDT). It also allows customers the choice to be paid in Cel tokens (Celsius’ own coin) at an even greater rate. If a customer chooses to receive interest on their cryptocurrency savings in Cel tokens, they then receive 30% more rewards on other holdings.


Right now you can make

16% on USD stable coin.

7% on PaxG (Gold token)

6% on Bitcoin.

In past year Celsius has paid out 250 million in rewards to their members.

I joined Celsius in April 2020. Bought BTC then. Also bought CEL token.(which went up 35x)....and was best performing asset on the planet in 2020....

I will NEVER sell all my BTC. Will take some profits.

Weak hands(retail) are selling to Strong hands(institution s)

Celcius also offers its members 1% loans AGAINST their crypto deposits.(platinum memebers get further 30% discount).

To gain high interest and platinum membership you have to have 25% of account in CEL tokens.



https://m.benzinga.com/article/19430....google.com%2F

Good stuff! I've been looking at Celsius a bit, it does look like a good deal. Agree that De-fi is going to be something I want to continue to be involved in, almost everything I've bought has done extremely well.

[350 mag]

Originally Posted by xxclaro

Good stuff! I've been looking at Celsius a bit, it does look like a good deal. Agree that De-fi is going to be something I want to continue to be involved in, almost everything I've bought has done extremely well.

I have not seen DeFi barely mentioned on BNN, Bloomberg, CNBC?

Everyone is talking about Bitcoin or Dogecoin.

The story of 2021 will be DeFi.

It's exploding....

Whether you choose Celsius(my fav.) ,Nexo or BlockFi probably doesn't matter.

They all pay high %>


Alex.M (Celsius) said he would reach out to Elon to see IF Elon would be interested in storing his Bitcoin with Celsius....IF that happens.

CEL token will moonshot....

[scottt]

Mtgawks proved it's a scam, hope people can realize their profits.

[does it ALL outdoors]

Originally Posted by scottt

Mtgawks proved it's a scam, hope people can realize their profits.

Mt. Gox?

That was a combination of theft, fraud and mismanagement.

Can you elaborate on it being a "scam"?

[Atex]

Rule of thumbs with cryptos: if you don't hold it, you don't own it.

[350 mag]

Originally Posted by Atex

Rule of thumbs with cryptos: if you don't hold it, you don't own it.

More ignorance....LOL.

You think your money is safe in one of Canada's Major Banks?

You have to trust sometimes in life.

[xxclaro]

Originally Posted by 350 mag

More ignorance....LOL.

You think your money is safe in one of Canada's Major Banks?

You have to trust sometimes in life.

Could be wrong but I took that to mean "not your keys, not your crypto", advocating holding your keys in a cold wallet or something similar.

[fishtank]

i dont own any bitcoins, but it feels like bubble at this point, unless you are up like 1000+% . but buying into it at these points .

[350 mag]

Originally Posted by fishtank

i dont own any bitcoins, but it feels like bubble at this point, unless you are up like 1000+% . but buying into it at these points .

Peter Schiff has been calling Bitcoin a BUBBLE since 2013...? When it was $13? LOL.....yep it's definitely in a bubble....but what isn't.

As long as they keep injecting stimulus and printing money Crypto will keep going up.

And the printing/debt is starting to go parabolic!!!

Yes it can be over-valued like anything else.

Is Gold in a bubble?

Is real estate in a bubble?

Are stock markets in a bubble?

[xxclaro]

I'm still extremely new to crypto, literally knew next to nothing about it till January this year. Decided I'd better learn about it as fast as I could. Made my first purchases on Jan 5. Bitcoin was super expensive so I didn't buy too much of it....was around 38k as i recall. Ethereum was under 1k when I first bought, now around $2500. I'm assuming there will be a pullback at some point, but when and to what degree is hard to say. I'll try to take some profits along the way and see how it goes...fun ride so far.

[Adamson121]

Originally Posted by xxclaro

I'm still extremely new to crypto, literally knew next to nothing about it till January this year. Decided I'd better learn about it as fast as I could. Made my first purchases on Jan 5. Bitcoin was super expensive so I didn't buy too much of it....was around 38k as i recall. Ethereum was under 1k when I first bought, now around $2500. I'm assuming there will be a pullback at some point, but when and to what degree is hard to say. I'll try to take some profits along the way and see how it goes...fun ride so far.

Same! still new and learning! When I joined, btc was already around 40k and ETH about the same price as it is now. Heard there's a possibility of it taking over btc but seems a long shot at this point I think.

[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!

[Buckhead]

Originally Posted by 350 mag

Peter Schiff has been calling Bitcoin a BUBBLE since 2013...? When it was $13? LOL.....yep it's definitely in a bubble....but what isn't.

As long as they keep injecting stimulus and printing money Crypto will keep going up.

And the printing/debt is starting to go parabolic!!!

Yes it can be over-valued like anything else.

Is Gold in a bubble?

Is real estate in a bubble?

Are stock markets in a bubble?

There is a bit of a difference there. Gold, real estate, the stock market won't fall to zero, unless maybe there is a nuclear war or a giant meteor strikes the earth. Cryptos can go to zero - easily.

Take Bitcoin for example.

Who stands to gain the most? If the price rises? The originator - because he mined his 1 million bitcoins at virtually no cost.

Who stands to lose the least? If the price crashes? The originator - because he mined his 1 million bitcoins at virtually no cost.

[Ken07AOVette]

It has fallen 10,000 cad in a couple weeks.

It is sure interesting to watch.

I had a guy wanting to buy drones from me. He was offering gold or bitcoin up to $3500.00. He has 104 bitcoins, at the time was $7,400,000 and has now lost a million of that. I was going to take the .005btc he was offering, thought about it and then found out how hard it is to cash them in. I am glad I did not.

If it goes down to $5000 again I might jump in.

Just looked - gold has dropped $350 USD as well since peaking in august

[350 mag]

Originally Posted by Buckhead

There is a bit of a difference there. Gold, real estate, the stock market won't fall to zero, unless maybe there is a nuclear war or a giant meteor strikes the earth. Cryptos can go to zero - easily.

Take Bitcoin for example.

Who stands to gain the most? If the price rises? The originator - because he mined his 1 million bitcoins at virtually no cost.

Who stands to lose the least? If the price crashes? The originator - because he mined his 1 million bitcoins at virtually no cost.

60% of the Bitcoin is NOT being traded....it is being HODLed.

Bitcoin will NEVER go to zero.

It is a "digitized" store of value in the "digital age".

Millenials are NOT buying Gold.

1 of the smartest guys on the planet, Elon is now a BTC HODLer.

Soon the Majority of the investment community will own a certain % of their portfolios in BTC.

The ONLY way Bitcoin EVER goes to zero is IF Central Banks around the world adopt a Gold Standard or some sort of "backing" of Fiat and stop massive money printing.....Until that stops BITCOIN will continue to rise.