Bitcoin Is Over $7,200!

[Big ole Boy]

*Hand in Air" So if there is only 21 million bit coins and the price has risen to $7000+ and people buy them because of miners, internet, world currency, anonymity, etc., then why doesn't someone create another 'bitcoin' system to create lower price and greater availability? Backed with a similar allgorithim. Why not competition?

This question has been addressed by the market.

Metcalfe's law states that the value of a telecommunications network is proportional to the square of the number of connected users of the system (n2). (from wiki)

Basically, its "network effect" .... by hitting a critical mass no competitor is able to replace the first mover (ex. Apple, Facebook, Amazon).

There all kinds of competitors to Bitcoin. It still remains to be seen what if any can replace it. Rather, it appears that the entire digital space is completely wide open to a trans formative revolution of "value, time and space".

 

[Big ole Boy]

I totally agree Bitcoin is in pre-ipo stage aka akin to private stock. This month futures start trading on it. I still say it will be in private mode. Next year an etf rolls out. That will be its ipo moment.

I don't see any reason it doesn't go to say $25,000 a coin before going to $100

Bitcoin is going to be an asset class. Think digital gold. Gold isn't worth anything. But people make it be. Same with Bitcoin, it's virtual gold/silver asset class.

I have no beef with it just like no beef with gold. I don't get gold and has $0 value to me. Same with Bitcoin. It will go to $25,000. I don't get it and it's worth $0 to me. So will chose not to own it just like I've never owned gold or silver. But for those who like it, I love that's it's available as an asset class for them.

I see Bitcoin as a way for deep holders of gold to move value around the world without needing to move gold.

I have done enough trading to realize that the "real traders" and accumulators" of wealth are simply more adept at it than 99.9% of the population.

This "adeptness" by the few, concentrates around "any" vehicle that can transmit that "adeptness" in a secure manner.

Clearly, fiat is for the masses - but wealth is something entirely different.

 

[Big ole Boy]

Bitcoin hit $8,100 today.

Bitcoin is the world's systemic short of fiat.

I might add onto my single wide if this keeps up.

Ironic that I was a frustrated appraiser who left the business in 2007, - and discovered Bitcoin early.

They kept piling debt onto folks. I could see it when I walked into those (many trailers). People are trapped!

I have no idea what governments will do if Bitcoin keeps going up so quickly.

The faster it rises, the faster you will see panic in government/finance squid.

 

[Deleted member 134708]

The interesting thing will be this: A countries fiat currency is not created until it is loaned.

Bitcoin, with increased number of miners, processing power etc. you will literally have money grow on trees.

So think gold as it's akin to. But alchemy turns into a reality. That's what Bitcoin is. Alchemy come true. Apply electricity at the right rate and frequency, you turn that into $$.

Money doesn't grow on trees? That's not a true statement. It does now.

 

[Deleted member 134708]

And just an FYI. Not talking trading or anything. But if folks are curious about Bitcoin and a small story.

"Banking on Bitcoin" is on Netflix. Not the best doc but, hey, it's on Netflix and accessble.

 

[Deleted member 134708]

I have a few VC friends in the valley

Any appraisers want to get certified as a a res./comm appraiser ok'd to value in Bitcoin?

We could destroy USA lending, the UAD, Joan etc. side step all that.l...over time. Say 5 years.

This idea is recorded and time stamped FYI.

 

[djd09]

The moonshiners must be making a lot of bit coin.

 

[Deleted member 134708]

The moonshiners must be making a lot of bit coin.

36 years old. Self made. Anytime you want an update. You let me know.

I ain't got no debt. Debts for slaves.



I'm the real deal. I ain't Digger. I have zero reason to lie on the internet.

 

[djd09]

36 years old. Self made. Anytime you want an update. You let me know.

I ain't got no debt. Debts for slaves.

I'm 47. I will make you kiss your own.

If you want one world, i wont join.

 

[Deleted member 134708]

I'm 47. I will make you kiss your own.

If you want one world, i wont join.

I was speaking to bitcoin and counter spoke against your post.

Have no clue what your 1 world comment meant. Never brought that up.

I want to drain the swamp. This is a piece. Millions of me are agreeing. Folks are tired of the swamp.