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re: Who will be the crypto bag-holders?
Posted on 5/5/21 at 1:51 pm to Ross
Posted on 5/5/21 at 1:51 pm to Ross
quote:
and what do you think they can do or are capable of doing?
Banning holding it or transacting with it is impossible and akin to banning the internet
They don't have to ban the internet, they just have to make it much more difficult and/or illegal to convert crypto into fiat and vice versa. Doesn't seem particularly likely at the moment, but it does seem within the realm of possibilities.
3
Posted on 5/5/21 at 1:56 pm to boogiewoogie1978
it's going to be around as long as people see worth in it, it's like any other item, it's just not physical, there's a supply/demand aspect, and bitcoin has a finite supply, the most media attention, as well as the stigma of being the first one so that's why it current sits around 1 trillion total value, but who knows how many bitcoin are actually lost so that causes an unseen scarcity because "we know x bitcoins exist but we don't know how many of these are lost but here is the price*totalknownsupply which gives you a higher market cap"
Posted on 5/5/21 at 2:02 pm to Triple Bogey
quote:
I know a guy that put like 200k in Doge a few days ago. I've been calling it stupid for 6 months now, but maybe I'm the stupid one. Time will tell.
No it's clear he's the stupid one. He may make money if he times it right but he's a moron.
Posted on 5/5/21 at 2:06 pm to playmakers in space
quote:
they just have to make it much more difficult and/or illegal to convert crypto into fiat and vice versa
many banks will be accepting bitcoin deposits by the end of year.
Posted on 5/5/21 at 2:42 pm to playmakers in space
quote:
They don't have to ban the internet, they just have to make it much more difficult and/or illegal to convert crypto into fiat and vice versa. Doesn't seem particularly likely at the moment, but it does seem within the realm of possibilities.
Decentralized exchanges and exchanges not hosted in the USA exist, so this would fail hilariously
Posted on 5/5/21 at 4:25 pm to Ross
Probably wrong but I get the feeling that Wall Street will be the big winners in the future once they are all in on crypto. It has been nice to see the common man prosper in this arena over the past several years.
Posted on 5/5/21 at 4:27 pm to playmakers in space
quote:
They don't have to ban the internet, they just have to make it much more difficult and/or illegal to convert crypto into fiat and vice versa. Doesn't seem particularly likely at the moment, but it does seem within the realm of possibilities.
Good thing I can buy Mavs tickets with Dogecoin.
Posted on 5/5/21 at 10:32 pm to Beessnax
quote:
Bitcoin, not likely
Bitcoin is the most likely loser. Its just the nature of things. Any company in a new industry industry is eventually bankrupted or swallowed by the newer competition, who have deeper pockets or leaner operating costs.
Before AT&T, there was Western Electric Company.
Before Walmart, there was Woolworth.
Before Microsoft, there was IBM.
Before Standard Oil, there was Charles Pratt and Company.
Before Ford, there was the Duryea Motor Wagon Company.
Before Delta, there was Western Air Express.
Once the public became comfortable with any new concepts, the driver of that original excitement always faded away into the trivia books.
Posted on 5/5/21 at 10:52 pm to Chingon Ag
That’s exactly what I’m betting on and why Galaxy Digital stock is by far my largest crypto holding. While bitcoin may be closer to it’s peak than trough, the institutional adoption of crypto is still just in the infancy stages.
Posted on 5/5/21 at 11:35 pm to Beessnax
quote:
Dogecoin? Sure, many bagholders after Saturday
what's happening Saturday?
Posted on 5/9/21 at 4:23 pm to DWaginHTown
quote:
what's happening Saturday?
Musk hosted SNL and called doge a hustle, which is correct. It tanked afterwards and all of the HODL idiots were left bag holding.
Posted on 5/9/21 at 6:01 pm to Beessnax
quote:
Musk hosted SNL and called doge a hustle, which is correct. It tanked afterwards and all of the HODL idiots were left bag holding.
All the way back up to .58 right now
Posted on 5/9/21 at 6:06 pm to Ron Cheramie
The probable end of DOGEmania is not going to be that the market cap goes down, but that the circulating supply expands by 5 billion coins a year with no end. This will reduce the price of any one coin unless they can keep billions of dollars continuously inflowing into the community
Posted on 5/9/21 at 6:10 pm to Ross
yea. it can only run so much until the fundamentals handicap momentum
big money came in last week. not sure how sustainable that is
big money came in last week. not sure how sustainable that is
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