Who had that Bitcoin target price prediction?

Sharkbiscuit

Duke status
Aug 6, 2003
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Is Bitcoin anything more than a hedge on inflation? Basically like buying gold. Seems to me that Bitcoin's value is more of a reflection of the loss of value in the green paper US dollar. Is that wrong?
Gold has been around much longer
Bitcoin is easier to transfer

Bitcoin for sure has utility as an inflation hedge, as do precious metals and other currencies (eg Swiss Franc).

Bitcoin has moonshot far too much to solely be a reflection of dollar devaluation. Silver and Gold would be going completely apeshit as well.
 
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Mr Doof

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Jan 23, 2002
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Is Bitcoin anything more than a hedge on inflation? Basically like buying gold. Seems to me that Bitcoin's value is more of a reflection of the loss of value in "paper currencies around the world". Is that wrong?


Answer is "Yes, a hedge on inflation and edited the above to show not just with USD, and general comment to say "this is only part of it".
 

SurfFuerteventura

Rabbitt Bartholomew status
Sep 20, 2014
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I always saw it as a hedge on inflation, but it's taken on its own meme form and I don't know what i see it as now.
I see it as "throw a grand at it, if it sticks... I'M GOIN TO DISNEYLAND!!!! .... but assume you lost the grand before you even put it into it in, just in case."
 
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SlicedFeet

Miki Dora status
Dec 17, 2004
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the digital hive mind has loaned it the credibility that fiat currency could have only derived from states prior
Love it.

I‘m too analytical for this stuff, the older I get I forget, trade is a trade.

I’m envious of you guys, no spite, I guess stoked is the best term here. That Dog coin is up 26% in a day.

This is a traders dreamland. When I logged in last week and started to watch the 1m charts after a long hiatus, looked at all my old trading and chart books (BTW Japanese Candlestick book is rad) I told myself not to get sucked back in.

I’m cool with that and happy where I am.

Gold, fark gold, then try taking delivery of it. Gold is something I have no problem with guys taking cracks at as an asset holder and in need of replacing.
 

Mr Doof

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Jan 23, 2002
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Gold, fark gold, then try taking delivery of it. Gold is something I have no problem with guys taking cracks at as an asset holder and in need of replacing.
You know, the solidity and mass of a brick of a metal is somehow rather appealing to hold in your own hand.

Never have held a brick of gold or silver or other precious metal, but have held a brick (like the kind you find making up a brick wall) of steel, and I don't know, it just feels impressive. Would guess this feeling is more acute if it is gold/platinum/etc.

Strangely, I don't get this feeling when curling/pressing dumbbells.
 
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skullver

Gerry Lopez status
Jul 28, 2010
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DOGE broke out for about 10%, and now falling back into triangle now to create false breakout pattern. I cashed out but it's not looking good now.
This didn't age well:). I cashed out half early for profit and freebies but the rest are going for the ride, not even looking at the charts. The market cap is ridiculous, I don't understand the structure, but it's doing a ....thing. My coworker was talking about this coin last year and I laughed at him (although his conviction lead me to my yolo purchase). There is no inflationary structure, coins can just be made at will with no regulation, it's a scam. He didn't show up for work today. I think he had a lot of them based on his fervor about the coin back then. These are strange times in the financial realm. Many people took a gamble and became incredibly wealthy it seems.

At this point I think it is a technical traders realm. I certainly wouldn't add any as a passive investment.
 
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r32

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This didn't age well:). I cashed out half early for profit and freebies but the rest are going for the ride, not even looking at the charts. The market cap is ridiculous, I don't understand the structure, but it's doing a ....thing. My coworker was talking about this coin last year and I laughed at him (although his conviction lead me to my yolo purchase). There is no inflationary structure, coins can just be made at will with no regulation, it's a scam. He didn't show up for work today. I think he had a lot of them based on his fervor about the coin back then. These are strange times in the financial realm. Many people took a gamble and became incredibly wealthy it seems.

At this point I think it is a technical traders realm. I certainly wouldn't add any as a passive investment.
The crypto market changes faster than any other. It can look incredibly bearish one moment, and incredibly bullish a few moments later. You have to expect any crypto post to be valid for a few minutes at the most, if it's not a long term prediction which I stay away from because it's impossible to predict anything in this market more than a few hours out. Most moves depend on what BTC does, but there are other factors at play as well. DOGE is definitely a unique ALT coin. It's made me a lot of money so far and I do think there is a chance it gets to $1.

Sentiment News out of China.
 

skullver

Gerry Lopez status
Jul 28, 2010
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It's gone 130x since anytime before Christmas last year so if he had over $7K in it, he's now got around $1M.
Yep, not sure how much he had into it. That is the right timeline as we made some good money on Pfizer Call options leading up to FDA approval as he was trying to convince me that it wasn't a scam, very passively might I add. He was seemingly a little embarrased with his conviction. This is an immigrant from Iran in his 40's with a family that had a rough go in life early on, an Electrical Engineering degree, and very smart and driven, but also bought his weekly powerball and lotto tickets.
 
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skullver

Gerry Lopez status
Jul 28, 2010
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The crypto market changes faster than any other. It can look incredibly bearish one moment, and incredibly bullish a few moments later. You have to expect any crypto post to be valid for a few minutes at the most, if it's not a long term prediction which I stay away from because it's impossible to predict anything in this market more than a few hours out. Most moves depend on what BTC does, but there are other factors at play as well. DOGE is definitely a unique ALT coin. It's made me a lot of money so far and I do think there is a chance it gets to $1.

Sentiment News out of China.
Definitely, with the number of outstanding coins, lack of regs and paperwork for some % ownership, the dumps can be absolutely violent and at random.
 

r32

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Apr 1, 2005
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Apparently some in DOGE community trying to make April 20 and official 'doge day'. Seems like a lot of people have an erection for this day for some reason.

This is basically an open invite for whales to dump on plebs, so I would expect it to dump. It seems to have slid some already. And BTC wants a little dump this morning so down we go. :shaka:

 

afoaf

Duke status
Jun 25, 2008
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Apparently some in DOGE community trying to make April 20 and official 'doge day'. Seems like a lot of people have an erection for this day for some reason.

This is basically an open invite for whales to dump on plebs, so I would expect it to dump. It seems to have slid some already. And BTC has more to dump so down we go. :shaka:

I almost got out at 60+ just to be a weenie, but I figured vroom vroom go time

I'm still green

thinking of selling a kidney to buy more red
 

r32

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I almost got out at 60+ just to be a weenie, but I figured vroom vroom go time

I'm still green

thinking of selling a kidney to buy more red
That's dedication. Nobody ever got rich by playing it safe. Kidneys are red. You want to buy red. Seems like a synergetic win-win.