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Bitcoin price hits $100K for first time in history

cointelegraph.com

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Re: Bitcoin price hits $100K for first time in history

#41

Post by bondarchuk »

seydor wrote: post #38
TrackerFF wrote: post #7

Duplicate comment from the other thread: 11 years ago I sold 100 BTC, and made pretty good money. With that said, the more I think about BTC, the less sense it makes to me. Exceedingly few people actually use it for anything practical. The “store of value” functionality has completely eclipsed the practical use that Bitcoin maxis were preaching back then. Since 2016-2017, it seems like people have bought it for the s…

Bitcoin at this price level is generally hated by banks, treated with suspicion everywhere around the world, outright banned, and regulators almost actively try to grind it to a halt. They don't do those things for gold for example, and gold is still going up

Certainly gold has been the subject of some suspicion: https://en.wikipedia.org/wiki/Executive_Order_6102

Re: Bitcoin price hits $100K for first time in history

#43

Post by fragmede »

zadler wrote: post #35
unyttigfjelltol wrote: post #25

Earlier quoted context omitted.

What makes you think BTC is an inflation hedge? BTC did not hedge the inflation event in 2022.

There’s still room for it to become an inflation hedge, we still havnt really seen much in terms of USD inflation and people scrambling for the exit. OTOH, government crackdowns might be able to tank the price.

the bet is that the incoming regime won't crackdown and may go do the opposite

Re: Bitcoin price hits $100K for first time in history

#44

Post by Retric »

zadler wrote: post #37
legulere wrote: post #28

This increases the market for bitcoin mining and subsequently energy waste. For me personally this enough reason to ban bitcoin

I feel this way about AI. Oh wait, AI is actually an existential risk to humanity, also.

Generative AI is hardly an existential risk. There’s huge fears around AGI, but that’s not what people are building.

Re: Bitcoin price hits $100K for first time in history

#46

Post by gbnwl »

devjab wrote: post #32
gbnwl wrote: post #10

Earlier quoted context omitted.

Sure but predicting Bitcoin will crash again is like predicting the sun will rise tomorrow, obvious and not a novel or useful prediction. What is your long term prediction of whether/when it will die off and never recover? So far the "HODL" people keep getting vindicated every cycle with higher and higher peaks. Unless you can point to a specific strategy of when to short, what's the utility of this view? Even "just…

I’m not sure I agree that avoiding crypto has been an inherently losing strategy. If your plan is to gradually grow your fortune in a non-volatile environment then crypto seems like a bad place to put your funds. There are a lot of places you can sit your money and get a safe 5-10% return, which is great for a lot of people. Sometimes the options come with the advantage of actually making you a lot more if the projec…

buying it after a major crash has historically been a very good business

Even buying it after a major peak (literally every single prior peak) and just holding throughout the crash has been very good business. Agreed that almost no one can stomach the volatility though if they truly hold Bitcoin as their main asset.

I've always held it with full knowledge that it's a speculative asset and holding it is in fact speculation and should not represent the majority of my portfolio. The issue I have is my speculative asset keeps multiplying and dwarfing my safe 5-10% investments and I have to maintain extreme discipline to keep rebalancing during peaks like this.

Re: Bitcoin price hits $100K for first time in history

#48

Post by 5350-uiop-1130 »

zadler wrote: post #26
5350-uiop-1130 wrote: post #11

as someone who follows crypto its crazy how much US dominates the prices during euro/asian hours price will go sideways or go down, then during US hours you get the huge moves up or down i'm guessing all financial markets are like that. it's like US is a behemoth

If you are sure of this then congrats, you’ve spotted a pattern in the market that you can exploit and get rich off. Seems unlikely tho for this reason.

well the money comes from predicting the direction. this doesnt tell you the direction just that when US trading hours start the probability of a large move up or down increases

Re: Bitcoin price hits $100K for first time in history

#50

Post by unyttigfjelltol »

TrackerFF wrote: post #7

Duplicate comment from the other thread: 11 years ago I sold 100 BTC, and made pretty good money. With that said, the more I think about BTC, the less sense it makes to me. Exceedingly few people actually use it for anything practical. The “store of value” functionality has completely eclipsed the practical use that Bitcoin maxis were preaching back then. Since 2016-2017, it seems like people have bought it for the s…

BTC was designed as a drop-in replacement for both the USD and SWIFT for processing transactions. If it were successful, it would be a grave threat to the US financial position. Trump recently issued threats to BRICS nations for contemplating issuing a common currency with precisely those same aims.[1]

If BTC was on the verge of realizing its purpose, Trump would work equally hard to burn it down. So, who knows if BTC price goes up or down, but categorical statements about a fundamentally transactional politician sending this permanently to the moon bake in a significant degree of risk of later being contradicted.

[1] https://www.cnn.com/2024/11/30/politics/trump-brics-currency...

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