Are you kidding me? Bitcoin hits $118,000

[CrazyTrader55]

All time highs, I've never understood the appeal of this "currency". Is it a hedge, is it not a hedge? Why is it still going up?

 

[Cassandro]

How much is owned, directly or indirectly, by the federal government? Could this be a way of handling the national debt?

 

[luiza]

Should be a relatively straight forward upward climb from here ,
Depends on exact timing of US $ dying but could be double current at year end .
Same for Precious Metals with Silver poised to go stratospheric .

 

[CrazyTrader55]

Should be a relatively straight forward upward climb from here ,
Depends on exact timing of US $ dying but could be double current at year end .
Same for Precious Metals with Silver poised to go stratospheric .

Why silver?

 

[Blaster]

Crypto currency has served me well.

 

[CrusaderFrank]

All time highs, I've never understood the appeal of this "currency". Is it a hedge, is it not a hedge? Why is it still going up?

Satoshi has 1,000,000 of them, hasn't sold one

$118,000,000,000

 

[luiza]

Why silver?

Demand exceeds supply and demand will rise even higher because of new technology uses .

And the ratio price between gold and silver has become loose --- 80 : 1 is a good working average and just on that basis Silver could easily move to 44 as opposed to 36 at the beginningof this week and 38 right now .
I feel very confident that Silver will top 50 by year end and Gold 4000 or more .
But if the Recession - Depression comes faster and harder those guesses could look very conservative
But imho .

Watch the Bond and Commercial Property Markets as first indicators of the collapse .
They are teetering already .

 

[Cellblock2429]

All time highs, I've never understood the appeal of this "currency". Is it a hedge, is it not a hedge? Why is it still going up?

/----/ It's a currency free from government overreach in any country. It's an investment where profits can be made overnight. The Fed has no jurisdiction over it. And it benefits criminal enterprise.

 

[justoffal]

Crypto currency has served me well.

What do you buy and do you also trade it?
I have a pretty considerable Bitcoin holding but I don't do much with it.

 

[justoffal]

/----/ It's a currency free from government overreach in any country. It's an investment where profits can be made overnight. The Fed has no jurisdiction over it. And it benefits criminal enterprise.

Yeah I suppose that's one of the side effects of being out of the purview of government supervision unfortunately.

 

[justoffal]

Satoshi has 1,000,000 of them, hasn't sold one

$118,000,000,000

Holy shit

 

[toobfreak]

It's a currency free from government overreach in any country. It's an investment where profits can be made overnight. The Fed has no jurisdiction over it. And it benefits criminal enterprise.

Well that cinches it. The government is sure to take it over like the banks and regulate it just as soon as it takes off.

 

[CrusaderFrank]

Holy shit

Satoshi is either Musk or Jack Dorsey

 

[justoffal]

Satoshi is either Musk or Jack Dorsey

That's 118 billion..... I'll bet it's Musk

 

[GenStark]

/----/ It's a currency free from government overreach in any country. It's an investment where profits can be made overnight. The Fed has no jurisdiction over it. And it benefits criminal enterprise.

I have to say that I don't understand the idea that the gov't has no control over crypto. Unless you're just happy watching the price go up and down in cryptoland, you'll eventually want to turn that into something else. Eg. buy a car, buy a house, pay a bill, and the gov't most certainly does have a say there.

 

[justoffal]

I have to say that I don't understand the idea that the gov't has no control over crypto. Unless you're just happy watching the price go up and down in cryptoland, you'll eventually want to turn that into something else. Eg. buy a car, buy a house, pay a bill, and the gov't most certainly does have a say there.

From what I understand the cryptonians are trying to down a separate economy based on crypto that doesn't require a dollar conversion. I'm sure that the IRS will still find a way to tax it however.

 

[GenStark]

From what I understand the cryptonians are trying to down a separate economy based on crypto that doesn't require a dollar conversion. I'm sure that the IRS will still find a way to tax it however.

We all know the gov't will never allow that. Yes, to some extent it's a power play. However, they also have legitimate law enforcement concerns as well.

 

[Cellblock2429]

I have to say that I don't understand the idea that the gov't has no control over crypto. Unless you're just happy watching the price go up and down in cryptoland, you'll eventually want to turn that into something else. Eg. buy a car, buy a house, pay a bill, and the gov't most certainly does have a say there.

/----/ What I mean by lack of federal control is that anyone can create a bitcoin without getting permission from the Treasury Dept. Before the Civil War, each state had their own currency, and even some banks did too. But now we only have one standard currency.
That currency, thanks to inflation, goes down in value each year, but the thousands of bitcoins can go up and down in value multiple times during the day.
Hope that clears my original comment up.

Examples: Cryptocurrency Prices, Charts And Market Capitalizations | CoinMarketCap

 

[GenStark]

/----/ What I mean by lack of federal control is that anyone can create a bitcoin without getting permission from the Treasury Dept. Before the Civil War, each state had their own currency, and even some banks did too. But now we only have one standard currency.
That currency, thanks to inflation, goes down in value each year, but the thousands of bitcoins can go up and down in value multiple times during the day.
Hope that clears my original comment up.

Examples: Cryptocurrency Prices, Charts And Market Capitalizations | CoinMarketCap
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I'm not so sure about that. If the EU and US told Coinbase, Kraken, and other exchanges we're fixing the price of BTC at $1000 USD and $950 EUR, you think the exchanges are going to take a stand for freedom? They'll go to jail, have their assets confiscated, and not send their kids to private schools, etc.,? Nopers. I really doubt it.

When my previous employer issued the Covid vaccine mandate, a lot of people talked a good game. Not many people got fired like I did though. They folded like cheap suits and so will the exchanges.

 

[justoffal]

I'm not so sure about that. If the EU and US told Coinbase, Kraken, and other exchanges we're fixing the price of BTC at $1000 USD and $950 EUR, you think the exchanges are going to take a stand for freedom? They'll go to jail, have their assets confiscated, and not send their kids to private schools, etc.,? Nopers. I really doubt it.

When my previous employer issued the Covid vaccine mandate, a lot of people talked a good game. Not many people got fired like I did though. They folded like cheap suits and so will the exchanges.

Of course they'll fold. But remember first you have to get enough momentum going the law making body to make it happen. If the lawmakers are convinced they can make big money off of the crypto you won't get the law through. Just like with the insider trading scandal going on right now everyday down in DC. If 75% of them are in on it you're never going to stop it.