Trump seems to be good for coin. He did promise to help deregulate crypto by firing the SEC chair. - https://www.axios.com/2024/07/27/trump-bitcoin-strategic-res...
This is exactly what has been holding retailers like Amazon and Walmart back
Bitcoin has made a new all-time high price
101–110 of 343 posts
Re: Bitcoin has made a new all-time high price
#102Earlier quoted context omitted.
Yes, bitcoin effectively trades like the 3x leveraged nasdaq indices (TQQQ).
Eh the USA hasn't defaulted on its debt. Yet. Once it does BTC will stop shadowing the USD.
The companies in the Nasdaq don't care much about the US defaulting: The cash (and cash equivalents in treasuries, etc.) don't make up a large part of their market valuation. If US defaults USD will tank and equity prices of public companies will soar (just like every other price including oil, gold, groceries, and probably also btc).
Re: Bitcoin has made a new all-time high price
#103Trump gonna create a national bitcoin reserve or what?
Re: Bitcoin has made a new all-time high price
#104Earlier quoted context omitted.
It is neither pyramid nor Ponzi. Bubble or mania probably. In pyramid money comes from recruits directly under, in ponzi central party pays out from new and old investors. Bitcoin is not either anymore than say Tesla or Nvidia...
If one is to believe that there is no other usage for a Bitcoin besides having a digital ticket worth 60k+ USD, then those people selling those tickets would be organizing one of these schemes. In order for it not to be so, you need to believe in there being some other usage to a Bitcoin (indeed, there is more to your Nvidia stock than its counter value in USD).
The use is that they think the digital ticket will outperform the s&p 500 exponentially.
Re: Bitcoin has made a new all-time high price
#105It has in dollar terms but it still hasn't on an inflation adjusted basis. One bitcoin today has less purchasing power than at its peak in November 2021. The dollar has lost about 12.5% since then so the true all time high would be around $79250.
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Re: Bitcoin has made a new all-time high price
#106Earlier quoted context omitted.
How long has this been the case for gold roughly? Since the 1970s?
Gold is used to make things. You can argue what its value should be as a material alone, but it’s not entirely speculation.
and how much of gold price is in your opinion value of material itself? Strip out that material price and you have speculation price. Price of Bitcoin is mostly that speculation price + instead of material some mathematical properties.
Re: Bitcoin has made a new all-time high price
#107Earlier quoted context omitted.
I know you are being snarky, but i think its worth pointing out that ever increasing prices is bad for a medium of exchange not good. The higher prices decreases the liklihood of it being used like a currency.
Yes, absolutely. But that’s exactly the problem. What is crypto - currency, investment, technology, religion? Apparently for all the crypto people I know, it’s somehow all of the above.
Its a thing you buy that will go up in value as Trump, Elon, JD Vance, and RFK Jr. enter power.
Its about that simple now. Whether or not that's good for the country (IE: does anything useful) is irrelevant now.
Re: Bitcoin has made a new all-time high price
#108Earlier quoted context omitted.
Crypto can be used as a store of wealth when crossing borders preventing search and seizure of your wealth against overzealous governments. See Russia in the early 90s which would regularly search and confiscate cash from people leaving. That alone makes it very valuable.
What's the scenario where the government can take the digital money from your bank accounts but can't take the digital money from your crypto wallet?
Any scenario where you're sufficiently careful with your private keys.
Re: Bitcoin has made a new all-time high price
#109Anybody have a reliable, up-to-date pc build guide, for a full node? I find very fragmented information everywhere. I get that "most pc's can run Bitcoin core" but I'd like some more detailed information.
Any computer will do (eg. Raspberry Pi), but I think you'll need an SSD drive or the initial sync will take ages. It's possible to move it onto spinning disk after sync, and keep it up to date. Umbrel (https://umbrel.com) is an easy way to run a bitcoin node, along with other software you might want on your home network.
Re: Bitcoin has made a new all-time high price
#110Earlier quoted context omitted.
Crypto can be used as a store of wealth when crossing borders preventing search and seizure of your wealth against overzealous governments. See Russia in the early 90s which would regularly search and confiscate cash from people leaving. That alone makes it very valuable.
What's the scenario where the government can take the digital money from your bank accounts but can't take the digital money from your crypto wallet?
When they don't know the crypto wallet exists?