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Board Bitcoin Discussion
Re: Important update on Bitcoin. Why is it falling? Will it go lower?
by
LocalString
on 23/04/2023, 03:13:55 UTC
Falling? Not that long ago it was at 15k and now look at is.

If you've been in this space for awhile then you know this is nothing and it's very rare that outside news effects the cycle. Without fail BTC every cycle has lost between 70%-90% of its value, then accumulation starts then eventually the pump that restarts the bull market begins on top of that there still hasn't been a bull market where we don't go above ATH. It's almost like its "programmed in".

After being in this space for 11 years its become very predictable to read. The only factor BTC hasn't endured is an actual recession, not "covid" recession but a 2008 level recession and with BTC being so tied to stocks it will be a very interesting time, personally I don't think it will start "depegging" from this standard like all the die hards want.
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Board Bitcoin Discussion
Re: How to convince a sceptical person to buy Bitcoin ?
by
LocalString
on 22/04/2023, 22:32:38 UTC
Although within this community Bitcoin is practically the only currency in which everyone believes, just look around a bit and we will find thousands of people who think otherwise.
At this point I wonder, what reasons should we give these people to make them realise that Bitcoin is a right choice? The first argument that comes to mind to convince a person who is sceptical about Bitcoin, is first of all that with Bitcoin you no longer need to delegate the custody of your money to a third party (banks, mutual funds, etc.): you are the master and you hold them. What else would you add?

There is no reason to convince them. They will join us when they're ready.

Most of us have been brainwashed when it comes to BTC. "Normal" people don't have this mindset and there is a even bigger % who don't even understand it. You telling them the benefits of what they don't understand gives them no benefit nor shouldn't convince them to use BTC over traditional currency.

At the end of the day most normal people don't have interest in BTC other than to make a profit. You tell a person about all the benefits of blockchain and BTC and they don't care but you tell them you 50x your money then they will drop their whole life savings into it and become a twitter moon boi.

The general public is happy with a fiat system and the ones who aren't are already here. You ask a person about BTC and most of the time the answer is "Oh I wish I bought some at X amount" or "I had 100BTC back in 2013, wish I saved them" they only care about the wealth it brings not the advantages.
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Topic
Board Bitcoin Discussion
Re: Do you think China is playing a double game?
by
LocalString
on 22/04/2023, 09:58:45 UTC
I do believe there is some type of Mr.Robot-isk situation going on with crypto. Where China and the US are fighting for dominance over BTC.

In my opinion China is winning. The US and Western world for the most part still fears crypto while despite the "bans" the CCP embraces it. Plus most if not all high value companies in China basically have to have ties with the CCP if they want to remain successful.