What do people think about Bitcoin?

Their argument is based on the realization of bitcoin supply shortages in a few years and the continuation of a logarithmic growth rate: $1,000, $10,000, $100,000... It's not as far fetched as it might seem. It's still a guess.

 

Hypebeast AF Bitcoin tbh

 

wow, someone sent Andreas 37 BTC ($500k)

https://blockchain.info/tx/e68ebe16e6aaa08e3f9d271ba78aaeb4ce7db01b0dc0f3b4d5eb29a14dbddf69

 

Eh, tbh I don't really care, just in to make money and get out. Almost thinking of just calling it a day with a 3x.

 

I think that's definitely possible...I see numbers closer to 500k-1 million as the potential.

 

So you believe that people are going to put $20 trillion of money into Bitcoin? For comparison, that's nearly triple the current value of all the gold ever to be mined in all of history.

 

It completely followed the rules this week, I even said so at the beginning of the week and told people we would likely see new ATHs this week.
Banking on a dip was a terrible decision when we've been hovering around 11k for a few days and were in a steady horizontal position, this is nearly always the sign of new highs incoming.

 

Have to say it again, people should read up on sidechains and drive chains on Bitcoin.
If this is implemented, all of the mentioned things and virtually every altcoin use will be able to be utilized with Bitcoin.

When implemented, you can have an Ethereum-like platform for smart contracts on one sidechain, a privacy sidechain that is like Monero on another, one for better scaling etc, all of those working with btc tokens.

Saying btc is limited or only existing for one reason is simply wrong. That's why it still has the strongest backing and isn't dying, the big investors who drive this aren't stupid and know the dev process.

 

It is completely different from Gold if utilized the right way, as I mentioned in a comment above.
You can use btc for virtually everything that crypto is aiming at (value, currency, smart contracts, privacy, etc) and also much more approachable to the masses.

A huge part of the world economy could run on crypto in the future, so conservative comparisons to gold are completely misguided.

I'd never say that crypto will be a dramatic success and that things will work out like this, but you have to see why the comparison to gold is far off.

 

I saw IOTA trading as high as $5.8 on Binance, very late at night in Vegas. Kicking myself for not pulling the trigger and buying back at a lot cheaper prices. Urgh...

 

Maybe I'm misunderstanding, but IOTA is tanking. It's at a lot cheaper prices now.

 

Tanking extremely hard and hovering at around 3.30$ I think.
Said it yesterday when talking IOTA, always be weary of these short-term mega pumps, almost always artificially done by some whale groups and crashing afterwards.

 

Btw, be weary of MANA/Decentraland, even though it went up 200% today.

It's basically the crypto+VR version of the game Second Life and technically intriguing, but the owners are extremely shady.

I wanted to invest months ago but read up on it at that time. Basically, they announced a public sale of their first tokens etc. But on the date of that sale, they suddenly closed the forum temporarily, changed hours etc and let anonymous whales buy the majority of their tokens.

This was completely intransparent and never explained, so it seems they 100% screwed with the community in order to make profits with undisclosed investors.

 

Along with people selling out to get their profits and put it in BTC. It always seems that when BTC is on the way up people are jumping in and getting money from all their Alts and trading it in for BTC. Then when BTC starts trending down they pull out and get back into Alts. It's definitely a cycle.

I knew a rise like that was going to come for IOTA eventually, I'm still in cheap enough where I am below the hovering point right now.

 

Definitely a factor as well, but IOTA was hit the hardest by far and was bound to be tested because of the recent huge pump.

 

I meant selling in the high $5s and repositioning it at a lower price, resulting in more shares.

I suck at timing the market, even back in the dotcom days.

 

Why do you keep on saying it was a pump? Wasn't the news of the marketplace with the biggest names in tech real?

 

I meant rules in regards to dips...we can put quotations around dips, if that's what we want to call it... But the past few weeks have definitely not experienced the corrections we would normally expect.

 

Big news alone don't lead to such an enormous pump within a few days, this is almost always controlled by a few whales on specific exchanges.

 

True, that's why more conservative people say you should never sell your btc. Trying to aim for dips screwed a lot of people royally.