What's the breaking point for Bitcoin?

[Laketex]

What makes it worth anything is simple supply and demand. No different than anything else. What makes a deer lease worth $20K a year? The simple fact that someone is willing to pay for it at that price.

There is no real rational that Bitcoin should be at $60K. The reason it is(was) at $60K is that people believe the price will go up, so they buy. Why is it at $16K? Not worth that from a pure asset value, but the belief that others will want it and be willing to invest more money into it will drive the price back up. As we come out of this crypto winter, BTC will be one of the first and fastest movers. People know that and it will only increase the price more.

So, I guess there is no real underlying value to the crypto itself, it is not a representation of the blockchain's value, it has no equity, it only has "real" value on the chain itself, but people see the value in possibly having one form of currency worldwide and its ease of use. They see the opportunity to invest in something easy. Honestly, I can't tell you why BTC went to $60K. All I can tell you is I wish I bought a million btc back when it was at $0.08 , then sold at $60K

Thank you for taking the time to explain. That makes perfect sense. And I agree.

[Landrover]

If nothing else this IMPLUSION of the cryto market should leave little doubt who is going to be truly in the race for the future. I doubt 2 or 3 will be left standing......that have serious potential and valid performa's. The market needed a cleansing and WE all got a huge one with this mess. I also believe BTC will come out on top UNLESS the trade commission finds more oddities. Sorry that soooooo many got swamped on this deal but such is the wild wild west of crypto and blockchain right now.

[Sticks&Strings]

I quit following it. My wife bought about $10k worth back in like 2014. When it was at $40k/share we figured what she bought was worth about $2 million. The only issue is....she lost her login and password. Let's just say I don't follow its value.

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[jreyna920]

Btc is not crypto.
Btc has no natural insurer
Btc is a commodity while 99% of the crypto projects/coins are securities due to Ico
And active management.
There is a very active agenda to push the fact that the revolutionary invention is blockchain and not Btc. Btc is the the only asset you have Sovereign rights to. The only asset you can take to the grave. The only asset you can cross borders without seizure. It is peer to peer, auditable, verifiable. No third party needed. Deflationary. Known issuance. It will discredited, attacked and will be a hard road forward. Governments around the world will come down on the on and off ramps. Btc has no central point of failure. Btc just exist.

I wish I hadn’t had lost it all in a fishing accident

[rtp]

I quit following it. My wife bought about $10k worth back in like 2014. When it was at $40k/share we figured what she bought was worth about $2 million. The only issue is....she lost her login and password. Let's just say I don't follow its value.

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WOW! Takes a man to admit that ! Sorry to hear. Did she buy it on an exchange or purchase and then transfer to a hard wallet?


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[Sticks&Strings]

WOW! Takes a man to admit that ! Sorry to hear. Did she buy it on an exchange or purchase and then transfer to a hard wallet?


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I'm not sure. I do know she even hired a company to try to retrieve it. It Will make you sick to think about it, so I don't much, lol. I told her it's a $10k loss only, so don't beat yourself up....but I sure would like to have my house and land paid for and some money in the bank, but....I'll just keep at it working. Lol

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[rtp]

I'm not sure. I do know she even hired a company to try to retrieve it. It Will make you sick to think about it, so I don't much, lol. I told her it's a $10k loss only, so don't beat yourself up....but I sure would like to have my house and land paid for and some money in the bank, but....I'll just keep at it working. Lol

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Great attitude [emoji106]


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[Huntingfool]

I do not usually agree with everything Dave Ramsey preaches but he was against crypto from the get go and he stated it multiple times -

as the great Will Rogers once stated ...... "I am more interested in the return OF my money than the return ON my money" -

[RiverRat1]

If nothing else this IMPLUSION of the cryto market should leave little doubt who is going to be truly in the race for the future. I doubt 2 or 3 will be left standing......that have serious potential and valid performa's. The market needed a cleansing and WE all got a huge one with this mess. I also believe BTC will come out on top UNLESS the trade commission finds more oddities. Sorry that soooooo many got swamped on this deal but such is the wild wild west of crypto and blockchain right now.

It really is sorry. It's not bitcoin (or any coins fault) it was just a scam. IMO exchanges should be regulated. Bitcoin should not be.

Like stocks E-trade has rules to follow and can't simply steal your money. If E-trade(or any broker) literally withdrew all your money while showing you still had the money in your account, no one would blame the stock tickers you owned inside E-trade.

I quit following it. My wife bought about $10k worth back in like 2014. When it was at $40k/share we figured what she bought was worth about $2 million. The only issue is....she lost her login and password. Let's just say I don't follow its value.
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This is part of what makes it worth even more. Lots of people lost access to theirs. It's something like 4ish million BTC that are "lost" That only leaves 16 million left to trade (and another 3mil to be mined) Halving starts in 2024 that makes mining 2x harder.

I'm thinking most BTC will be totally locked down and put in hard wallets soon (1-5 years) and the price will run crazy 250k or so.

If she had the password she'd have sold.. Maybe with luck she gets the password figured out after it run to 250k That's be nice way to retire!

[KoonceCrushed]

Hi everyone! Thank you for sharing. It is exciting. Tell me now, are you satisfied with your earnings on bitcoin, or are there some difficulties? I've been thinking about starting to invest, but I haven't made a final decision yet. I find the forex micro account attractive, but I'm also interested in bitcoins. What can you recommend to me, given the current situation and the fact that I am entirely new to this issue? Thanks a lot.

Do your own research. (Below is what I have told my friends) (Not Financial Advice) Don't risk more than you are willing to lose.
You will likely make mistakes in learning how to purchase, exchange, send and receive, so start with small amounts.

-Start Dollar Cost averaging, buying small amounts of BTC on one to the three exchanges:

Binance, Coinbase, Kraken (Use most secure security features offered (Security Key or Authenticator) like Google Authenticator or Duo Moblie)

-Purchase a Hard/Cold Wallet (Legler Nano or Trezor directly from their websites (not from amazon or eBay), transfer the BTC from the exchange to the cold wallet regularly.


- Write your hardware wallets 24 word password down (do not take a picture of it or put in your phones notes) (get a metal wallet to store your 24 words) Not your Keys Not your Crypto.

There is way more to learn, but this is the basic way to start buying and holding BTC any other crypto token.

[glen]

I call this Vegas investing. Don’t belly up to the table and not be willing to take total loss. I watch it and see the lure

[Huntingfool]

Do your own research. (Below is what I have told my friends) (Not Financial Advice) Don't risk more than you are willing to lose.
You will likely make mistakes in learning how to purchase, exchange, send and receive, so start with small amounts.

-Start Dollar Cost averaging, buying small amounts of BTC on one to the three exchanges:

Binance, Coinbase, Kraken (Use most secure security features offered (Security Key or Authenticator) like Google Authenticator or Duo Moblie)

-Purchase a Hard/Cold Wallet (Legler Nano or Trezor directly from their websites (not from amazon or eBay), transfer the BTC from the exchange to the cold wallet regularly.


- Write your hardware wallets 24 word password down (do not take a picture of it or put in your phones notes) (get a metal wallet to store your 24 words) Not your Keys Not your Crypto.

There is way more to learn, but this is the basic way to start buying and holding BTC any other crypto token.

Amazing. Steering someone on how to buy this junk. People have lost their butts in this stuff. Silliness

[HoustonHunter94]

Amazing. Steering someone on how to buy this junk. People have lost their butts in this stuff. Silliness

Some people have lost their butts. Just like the stock market. Bitcoin is just something I believe is not going anywhere. **** coins, yes. I may lose my *** eventually but at this point, still way up. And still buying. I don’t care what other do but one man’s junk is another man’s treasure.


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[RiverRat1]

Every cycle the "bitcoin is worthless" crowd loves to scream and tout. Then after a year or so it starts it's way back up and they go silent again.

Been this way since Bitcoin was pennies.

IMO - They can say it's over when Bitcoin goes below previous cycle low. Which at this point would be if Bitcoin gets below and stays below 9,000

But near zero chance Bitcoin ever goes away. Better odds the US dollar goes away.

[Huntingfool]

Some people have lost their butts. Just like the stock market. Bitcoin is just something I believe is not going anywhere. **** coins, yes. I may lose my *** eventually but at this point, still way up. And still buying. I don’t care what other do but one man’s junk is another man’s treasure.


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Yeah right - the guys says "not giving financial advice" - meanwhile he gives all kinds of financial advice - hope the SEC doesn't catch up to him - some of you are playing with fire