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re: Bitcoin people, is now a good time to cash out?
Posted on 3/9/25 at 4:08 pm to TigerTatorTots
Posted on 3/9/25 at 4:08 pm to TigerTatorTots
quote:
Correct, it’s not a secret. However you stated that’s a reason why bitcoin isn’t good. But it’s the same with USD. So is the USD also not good bc 90% of it doesn’t exist physically?
But the USD does exist physically.
1
Posted on 3/9/25 at 5:15 pm to Warfox
quote:
But the USD does exist physically.
Where is it?
Only 11% exists in physical notes.
Posted on 3/9/25 at 8:40 pm to SlidellCajun
quote:
I don’t have any arguments for gold vs bitcoin other than the fact that I use gold as do billions of other people. I have zero use for bitcoin and neither do billions of other people. If bitcoin ceased to exist, I wouldn’t be impacted at all. Neither would you unless of course you bought some.
The hell you say you don't have any use for BTC. If BTC ceased to exist, you wouldn't have it to post incessantly and ignorantly on TD's money board about it.
quote:
And how does a US issued crypto bode well for bitcoin?
Did I argue that a digital dollar would bode well for BTC? No, I didn't.
You argued that a digital dollar wouldn't bode well for BTC, right? So it should be you educating us as to why the digital dollar would be a bad development for bitcoin.
Posted on 3/10/25 at 9:30 am to David_DJS
quote:
The hell you say you don't have any use for BTC. If BTC ceased to exist, you wouldn't have it to post incessantly and ignorantly on TD's money board about it.
All that really needed to be said. Pull back the veil on bitcoin and even the most ardent fanboys have nothing to support its value relative to what it trades for. Yet they’re willing to pay 90,000 per coin errrr correction 82,000 per nope wait…. 79,500 per coin. Oh well it’s hard to peg a number that makes sense which is likely why it is so volatile .
And as to why a government issued coin is bad for bitcoin well that seems obvious to me. A government issued coin will certainly have usage and will compete with any and all other forms of currency. Governments tend to be very proud of their currency and don’t like competition.
Posted on 3/10/25 at 2:15 pm to SlidellCajun
quote:
Pull back the veil on bitcoin and even the most ardent fanboys have nothing to support its value relative to what it trades for.
It's not our problem that you choose to remain ignorant about bitcoin. What's curious is why it seems to matter so much to you.
quote:
ill compete with any and all other forms of currency. Governments tend to be very proud of their currency and don’t like competition.
What does this have to do with BTC as a store of value?
Posted on 3/10/25 at 4:58 pm to David_DJS
quote:
But the USD does exist physically.
But does it? A piece of paper exists, but every year 10% more get printed which makes the one you had last year worth 10% less. Then take into account and the ridiculous stated inflation rate, which is not calculated the way it should as it would scare the hell out of you.
All of that is backed by "Gold" you know, the one that nobody has put hands on in decades; the ones that people aren't even sure still exist.
The "Dollar" is faith in a system, all it takes is that faith to be shaken, and Venezuela 2.0 is all but certain. But in Venezuela's case it was only their economy. The dollar is the world's economy. You think that can't have the rug pulled?
If that happens, what is the only thing the financial worlds have now bought into as a store of value? Yep, that's Bitcoin, and it becomes scarcer daily.
Posted on 3/11/25 at 9:47 am to David_DJS
quote:
It's not our problem that you choose to remain ignorant about bitcoin. What's curious is why it seems to matter so much to you.
Because I am interested in financial matters hence my posting in the Money board. Kinda obvious.
I’ve been investing for a long time. I went through the 87 crash, dot com boom- bust, 08 meltdown, and some other bumps along the way. I got particularly schooled in the dot com period. I know a few people that got hurt including myself. I started to pay close attention to valuation and market psychology after that. It was very similar to what I see with some of the crypto fever.
When something comes along like Bitcoin or meme stocks my antennae go up. People use the internet and social media to hype things. There’s a lot of young posters here and I don’t like seeing them get duped so I ask questions to shine light. I don’t see any point in sitting idly by while people post sunshine and rainbows without caveats so I’m here to ask questions. That might be uncomfortable for you and others.
This post was edited on 3/11/25 at 10:43 am
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