Post
Topic
Board Speculation
Merits 2 from 2 users
Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion
by
modrobert
on 11/12/2023, 03:38:44 UTC
⭐ Merited by vapourminer (1) ,JayJuanGee (1)
I like seeing Bitcoin on the rise, but have this eerie feeling it will not mean much by the time it really takes off (hopefully wrong about that).

I am not sure what you mean.  If you are suggesting that there is some kind of a correction, then why would any kind of correction matter, if the price ends up "taking off" and then presumptively going past our current price, going past $50k, going past previous ATH and at minimum ending up supra $80k.. .. You would be presuming that at least the minimum has decently good chances in the next 1 to 2 years and so that would be a doubling of whatever you have into bitcoin in 1-2 years.   Sure, it is possible that even the "minimum" does not end up playing out, but you don't really seem to be suggesting that kind of a scenario, are you?

Now on the upside, there are a lot of really decent scenarios ranging from supra $100k to $2.5 million and above, but surely even many of the really decent upside scenarios seem to be erroring quite low in the range, which seems to be $500k or lower, but even that would not be bad, and we cannot take any of those various upside scenarios for granted, and we cannot even take for granted that we are going to get up from here rather than sideways or down, but hardly any of us who have been studying bitcoin for very long would consider sideways or down from here scenarios to have better than 50/50 chances, and maybe even we might be assigning  less than 35% odds to those kinds of downity and/or sideways scenarios...

so what is the "hopefully [I'm] wrong about that" part of your statement?

I was thinking that something besides Bitcoin turns to shit by the time the price takes off; hyperinflation, chaos, world war, or worse.

No need to splurge and act like a high-roller when that really means just being another consumerist sucker.
Yes, and it's even worse when not enjoying spending, turning into a jaded consumerist. Remind me why we do this again?

I would think that many of us do it in order to have more options.  So, if we are looking at having bitcoin versus not having bitcoin, having bitcoin seems to give us more options, even if we may or may not end up getting rich off of the matter.

Probably, bitcoin also gives hope because there are not too many investments in which anyone can have hope, and surely people buy real estate and houses for themselves at least, because they can say at least they have a place to live, but surely houses are not very liquid and we still have to eat and engage in various other activities besides just having a house.. even though surely it is nice to have a house, but even if we completely own the house, some people run out of abilities to pay for the taxes (and/or other costs) of completely owning a house, so there should continue to be some value in terms of having liquid value, even surely there are ongoing attempts to attack bitcoin's liquidity, but I doubt many of us HODLers consider that bitcoin liquidity is going to be falling merely because there are various avenues in which rich people and governments are likely considering that they are going to have some success in terms of channeling normies into official financial products...

yet bitcoin does allow us various kinds of powers to transact peer to peer. .and likely there are going to continue to be ways to transact in those kinds of direct ways, even if there are going to likely be ongoing challenges too... where are we keeping our keys and have various avenues to interact been shut down.. an we run an app on our phone? or do we have to use the computer or do we have to resort to some other means of transacting?

You have some good points there, thanks for the reminder.

Challenges and people are what drives me to towards happiness, if you remove all the challenges and people eventually apathy takes over. On the other hand, I guess if you hate challenges and people, then being rich is great. If the challenge is to exert power over others by making sure they can never reach their dreams, then it's not for me.