Quote from: Casdinyard on May 27, 2024, 04:43:41 PM

These kinds of posts FOMO the fuck out of the paperhands on twitter who think bitcoin's going to be the solution to their poverty. So when they spend and invest money on it and find out it's not making them any richer any quicker than they hoped to, They sell and swear against it, urging even more people to hate on it which hampers with the progress of bitcoin in general, cause instead of having newer people who are more supportive of the coin and are gonna hold no matter what, instead we have more haters who are going to swear against bitcoin even if it became the signal to the second coming of Jesus Christ.

Bitcoin is not the solution to eradicating the poverty of this world but this just explains why the rich getting richer and the poor getting poorer, this is just to make people who are weak hands and trading in the short term to make pennies can realize what is the potential reap when they do nothing but simply buy and HODL bitcoin that they bought earlier.

Quote from: Don Pedro Dinero on May 27, 2024, 04:54:12 PM

Quote from: Findingnemo on May 27, 2024, 02:00:30 PM

Anyone bought bitcoin with their stimulus instead of groceries?

What you have to think about is that the stimulus cheque stimulated price rises. Everything, going to the supermarket today is much more expensive than in 2020, buying a house is much more expensive today and buying bitcoin is much more expensive in 2020. So I would blame the stimulus cheque rather than thank it.

Even if there is no stimulus were issued for the people still there is no way that the inflation will be under control because US government printed tons of money for many things so stimulus package helped the people to survive at the situation.

Quote from: Don Pedro Dinero on May 27, 2024, 04:54:12 PM

Besides, it's a biased way of doing the maths. The price of bitcoin ranged in 2020 between $5,000 and $30,000. For the sake of accuracy, I'm going to assume an intermediate figure of 17,500, since the checks were given after the March 2020 crash. That would be 4x, and instead of the $12,192, it would be $4,800. And if you got it at the end of the year, it would be 2.5x, or $3,000.

I did the match before posting this, not simply posted it.

The price of 1BTC was around $6500 at the end of the March 2020.

Now, Let's do the Math $1200/$6500= 0.1846BTC then 0.1846BTC x $70,000 = $12,922

The numbers are a little bit higher than what's mentioned in OP.