Quote from: Dragonfund on December 15, 2020, 09:34:47 PM

Are you for real, what do have say about institutional investors who have invest heavily on bitcoin? They believe in bitcoin and its revolutionary concepts, they don't want to depend and hope on centralized system that's why they have their share of wealth and investment into Bitcoin and altcoins.
Take it or leave it, Bitcoin is just as good as messiah who gave many individuals an opportunity to show the world the less previlage their power of decentralization to wealth.
Many of today top reach people started earlier, that's why they have been at the top and don't want to step down. $3k to $19k is super amazing as investment than keep money on fixed deposits with shit profits.

Well you mentioned several parts, so I will answer part by part

1) Institutional investors is not a good benchmark, because you can check what happened with LTCM, Lehman Brothers, and many many other bankrupt funds
2) They don't invest in asset because they believe in it. They think they can profit from it and that's all. Yes, some people might believe, but very few of them will direct institutional money simply because they believe in it
3) They say they believe - doesn't mean they do. It can simply be market manipulation - check the history of BTC before when GS said it's gonna go up, and their subsidiary in EU was selling all clients' BTC, and after that market crashed
4) The above points refer to the "Greater Fool Theory" - buy it if you believe there will be fools who will buy from you later @ higher prices
5) If you believe $3k to $19k is amazing, what you can say about the following?:

- Novavax $NVAX +3030%
- Nio $NIO +1030%
- Arcturus $ARCT +1025%
- Overstock $OSTK +765%
- Fiverr $FVRR +760%
- Moderna $MRNA +728%
- Plug Power $PLUG +700%
- Celsius $CELH +682%
- Seres $MCRB +660%
- Tesla $TSLA +650%
- Bitcoin $BTC +182% over same period

6) If you believe Bitcoin will change your life / global economy, then you should believe also that e-cars will do so, vaccine by Moderna will do so, etc. etc.

Quote from: Fortify on December 15, 2020, 09:50:20 PM

People will always try to show off wealth and try to "fake it 'til you make it" has been around for a long time. I wouldn't say that Bitcoin is especially popular for this purpose, because it is hard to show off a "piece of code" compared to a loan spent to buy a flashy car or the latest piece of fashionable clothes that they can show around town. Either way it is better to ignore such trivial displays of wealth and concentrate on improving your own life.

You are absolutely correct. I didn't mean that BTC is made for showing off and making someone "fake rich", the point was maybe it became so popular, because it gave hope to those who are "wanna be rich". Of course not 100% only because of this, but I think it could have played on this global trend?

Quote from: Shasha80 on December 15, 2020, 10:40:47 PM

Go ahead if you think Bitcoin is for fake rich, but for me Bitcoin can make my finances even more. In fact, I can buy some items
from the profit I made from Bitcoin, so Bitcoin gives me real wealth. In fact I am also sure that there are many people who have
the same opinion as me, therefore many people are competing to collect as much Bitcoin as possible. Because they believe the wealth
that Bitcoin will give is real.

Yet if Bitcoin is for "old elite rich" why do you sell it to cash out? Just keep holding BTC forever, but you eventually exit (maybe partially or completely - doesn't matter) to fix your profit in the "real rich" measure - USD / gold / real estate / stocks / consumables. That is your final goal, rather than collect BTC and sit on it...

Quote from: Fredomago on December 15, 2020, 10:53:52 PM

It depends from how you interpret this matter, Bitcoin is an opportunities to those who understand it well, while for some it's just a fake wealth maybe becaus of volatility and it's behavior that it can go down within the glimpse of an eye. By following you with your sentement, it helps you in your financial state so it's useful.

Yeah right, better to focus with your life on how to improve it than to care about things that won't help you, conserve your energy and focus to whatever you think that beneficial to you.

Yes, mostly agree with you. It's about how you personally perceive it and use it. But the end point for those who are "wanna be rich" is still having USD account even after profiting from BTC. USD / gold / EUR / estate / etc. is the end destination to be rich for most of those people, isn't it? So if you look at it from another side - BTC is a transmission tool to uplift your (not you personally, but overall Grin

) social class. Again, like with those with iPhone, Tesla, case in China/HK, etc. - they use those tools to uplift social class and not seam too poor, so they can eventually get to know more rich people, get more opportunities, and eventually hope to transit to "old elites".

Quote from: Broly46 on Today at 12:37:44 AM

It has been a blessing to a lot of gold bug didn’t listen to those non sense stock market create real value story, and these gold bugs hodl their gold like a religions through the entire market cycle, and their reward is so sweet, they watch their value goes up which is re best rewards ever it doesn’t need a lot of fancy praising and attention given to them on the social network, they enjoy the reward alone and on he dark so they’re extremely aware of social event which sound very fake to them just some wannabe rich who get a lot of wealth suddenly and making a lot of noise to impress some fast women fast car and fast house. We are the gold bugs, watching all the blue chip mega rich, spending money like a drug addict over the past decade and turn their once very famous very perceived rich to a dumpster red chip that the companies eventually goes burst and get boot off the bourse.

Yeah yeah the perceived “real rich” business owner very famous on the social network very political influential very high smv very successful, just over ten year they turn from having everything to have long nothing but a bloke, such a “real rich” to be ironically.

Too bad, the gold bugs are too very smart they had know ahead of time all this so called perceived “real rich” and their little cat and mouse game, they decide to not play this stupid game of the “real rich”, they do not crave for attention, they do not crave the recognition, they do not need to tell everybody they’re rich all over the place, the only thing they care most about is looking their numbers goes up, it’s very frugal, very real, very inspiring, and very encouraging number to them, their life is totally out of the social norms, they don’t need those noise to tell them they’re really the greatest person on be earth.

You depicted the current system and historical trend very sadly, yet very correctly. It's also about how you view it. We can blame socio-economic system to be rotten and bad, others can take advantage of it. Same is happening with cryptos and any other area. You are always "in" and use it / benefit from it, or "out" and can blame it for being unfair or bad. Same will be with Bitcoin after 50 years - new generations will likely blame all of us and forum members for being explotive manipulators who took control to the extend we could during the early days of Bitcoin and crypto currencies.