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Bitcoin/BTC finally breaks though $100K: Time to sell for watches or hold for more gains? 🤷

Trev
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NGO1 NGO1
the thing is: we are way way too early into crypto financial. The upside is MASSIVE. Downside is whatever you can afford to loose.
My only question is: will BTC reach $1,000,000USD a coin? If you are in the "yes" camp, then load up. "no" camp stay out. But it hurts a bit knowing I could have bought some BTC in college for a few dollars. I actually did a presentation on BTC for a finance class. This was right around the time of "10,000 BTC pizza"*.

*For those don't know: This is the early days of Bitcoin, trading for pennies a coin. A guy in Florida offered 10,000 Bitcoin for any stranger to buy and deliver a $25pizza to his home. This legitimize Bitcoin as a currency. In today value, that single pizza cost $1 Billion USD.
I'd mined random bits here and there in the very early days and those wallets were lost ages ago. Hate to think what they'd be worth now. I'm sure plenty have similar stories.
 
NGO1
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Trev Trev
I'd mined random bits here and there in the very early days and those wallets were lost ages ago. Hate to think what they'd be worth now. I'm sure plenty have similar stories.
Trev, are you saying you are now a Billionaire? Hunt for those wallets !!!!
 
Trev
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NGO1 NGO1
Trev, are you saying you are now a Billionaire? Hunt for those wallets !!!!
They're long gone, but would've been tens of thousands now, if not more.
 
Walrus
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Trev Trev
They're long gone, but would've been tens of thousands now, if not more.
Ah shoot sorry to hear that Trev. In the very early days I helped my buddy set up a rig. I was just buying parts needed and we were trying to figure out a fair split as he was doing the mining and using his electricity. We lost it all on the Mt. Gox hack. To this day he is still very upset. I just figure what are the chances I would have held this long. When it hit a couple hundred who knows maybe I would have been amazed and sold.
I’ve heard worse stories. How many “what ifs” do we all live with.
Now ethereum is on the move. It stayed pretty quiet during that Bitcoin run up I thought it was due for something.

In the US the Salvation Army sets up kettles where people donate to fund the non profit that does some pretty cool things. Usually you drop a dollar or change in this big bucket they have. They now added the option to donate with eth or btc. I just tried it on my way home it was actually quick and the fees were not crazy. I thought it was a cool idea. Just point your camera at the sign and go.

They should announce how much they took in via crypto. After the holidays.
 
YY77
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IMHO a currency is supposed to be used a pay, but crypto is more a gamble of people hoping the next person will give you more than you yourself paid for it.

I think the current BTC gains increases the fear of selling off your crypto too soon resulting in less chance it will be used as a currency.
 
Bruce235
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YY77 YY77
IMHO a currency is supposed to be used a pay, but crypto is more a gamble of people hoping the next person will give you more than you yourself paid for it.

I think the current BTC gains increases the fear of selling off your crypto too soon resulting in less chance it will be used as a currency.
The greater fool theory...impossible to say where it goes. I think crypto is too big to fail now because it would disrupt the system if it did.
 
Bruce235
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In other news some guy paid $6 mil for a banana taped to a wall then ate the banana a few days later, apparently funded by crypto gains. It becomes difficult to apply reason to that. It's requires a valuation of viral fame and conspicuousness.
 
Archer
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Bruce235 Bruce235
I think crypto is too big to fail now because it would disrupt the system if it did.
That’s my fear with all this stuff. When one of them does fail, it’s going to be bad and we will all pay…
 
Scarecrow Boat
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hen hen
If you buy crypto from a person that said "hawk tuah"
She needs to talk tuah lawyer.



😅
 
boogedyboo
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Walrus Walrus
Ah Bitcoin will never go anywhere, it’s just for drugs, it’s a big Ponzi scheme, it will crash, it’s just for laundering money, it’s only for criminals, it’ll never go anywhere
I would think that if the primary purpose is for money laundering, that it will definitely keep going up but that's just me.

Has anyone seen the price of those abstract art pieces these days!?
 
dsio
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boogedyboo boogedyboo
I would think that if the primary purpose is for money laundering, that it will definitely keep going up but that's just me.

Has anyone seen the price of those abstract art pieces these days!?
6.24 Million USD including auction fees for a banana taped to a wall

https://en.wikipedia.org/wiki/Comedian_(artwork)

Yea, definitely a little bit on the suss side. Still I’d rather they do their money laundering with fruit than with watches.
 
theluckyluke
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I wonder if blockchain is really suitable for money laundering. After all, all transactions are “public” records? Meaning it’s stranded with bitcoin effectively.
 
Archer
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theluckyluke theluckyluke
I wonder if blockchain is really suitable for money laundering. After all, all transactions are “public” records? Meaning it’s stranded with bitcoin effectively.
If that were true, then how do you explain all the stolen crypto? If it was as public as people claim, then finding the stolen money would be easy, right?
 
Tony C.
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Interesting, related thread linked below. The OP makes a strong case that the original intent of BC was perverted by those who sought to benefit from it as a speculative asset. Whether his observations will be of anything other than academic interest moving forward, is an interesting corollary.

https://twitter.com/x/status/1866244467881046288
 
Trev
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Archer Archer
If that were true, then how do you explain all the stolen crypto? If it was as public as people claim, then finding the stolen money would be easy, right?
Sometimes. There's entire companies (and sections of 3 letter agencies, including the IRS) dedicated to blockchain analysis to track down money laundering, tax evasion, or worse. It's been used successfully in many cases to find patterns indicating illegal activities and traced back to those involved.
 
Archer
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Trev Trev
There's entire companies (and sections of 3 letter agencies, including the IRS) dedicated to blockchain analysis to track down money laundering, tax evasion, or worse.
Doesn't sound very transparent if all that is required to get the end result...
 
Trev
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Archer Archer
Doesn't sound very transparent if all that is required to get the end result...
It's inherently transparent since every transaction is recorded on a public ledger that anyone can view. That's what makes it possible to analyze patterns and trace activities back to individuals, but there's still a mountain of data to sift through. Once a wallet address is linked to a person, the entire transaction history is available. At best, there's only pseudo-anonymity since your transactions are hidden in a lot of noise.
 
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