Whales Accumulating.

[ATuringtest]

BTC makes Bill gates angry = Makes me very happy.
Just dipping my toe into BTC for alt method of receiving payments for services, doubled my customers over the last 3 months.
I support BTC as a way of staving off big corps attempt to create a cashless society, its the next battle after we win the free speech one and just as important.

 

[Deleted member 1333509]

lol, smbd believs in btc for 100k$?)

Yeah because I was trading BTC when it was less than $10 and I remember people laughing then about it getting to $100 - now most of them are broke dummies that missed the opportunity of their lifetime.

People tend to have a problem with wrapping their heads around a 1000% expansion of the price of BTC when it's already grown by tens of millions of %.

In truth, it's actually much more ridiculous that you think it couldn't get to 100K.

 

[ChristineAshe]

@VSYNC, i won't argue about the accumulation.

I`m a bit sceptical however about the bullish that everyone(literally everyone) talks about.
For every rock you pickup, you`ll find someone underneath talking about the upcoming bullish trend that bitcoin getting into, and that alone makes me very sceptical.
Thoughts?

On a side note, if bitcoin price will get so high, does that translate, that some altcoins(defi more precisely) will get a higher traction.

 

[Deleted member 1333509]

@VSYNC, i won't argue about the accumulation.

I`m a bit sceptical however about the bullish that everyone(literally everyone) talks about.
For every rock you pickup, you`ll find someone underneath talking about the upcoming bullish trend that bitcoin getting into, and that alone makes me very sceptical.
Thoughts?

On a side note, if bitcoin price will get so high, does that translate, that some altcoins(defi more precisely) will get a higher traction.

It's a good question, and one that depends on the amount of background info you have on how crypto works (as a market and a technology) and where we're at right now in relation to things.

A solid example of what I'm getting at is that 2017's bull run wasn't random. It didn't just happen at that point in time, but could have happened in 2018 or could have happened in 2019.. it happened in 2017 specifically for a good reason.

Bitcoin runs on a cycle.. every 4 years since it's launch the supply gets cut in half. Ask anyone with a cursory understanding of economics what it means when the supply of an asset drops dramatically while demand either remains stable or increases => increased scarcity.

It's not based on speculation and it's not based on guess work - you can model the impact of this increase in scarcity, and we know that this will happen ever 4 years that Bitcoin is still being mined.

Bitcoin's blockchain was launched in early 2009.. 4 years later (after the first halvening) we saw two major bull runs in 2013 not long after the supply was cut in half.

The same thing then happened 4 years later - again, not because of speculation or randomness, but because of a mechanism built into the core of how Bitcoin works that cut the supply in half again in 2016.

We just had another halvening for the 3rd time.



So for anyone who knows this information and thinks that there's more chance that for the first time that Bitcoin won't experience a significant increase in value following this halvening than it will repeat again, the onus is on you to explain what's different about this time, and what is the empirical data you have that brings you to this conclusion? (@Blackhat Lifter)

It's not saying that it's 100% certain, but you work on a scale of probabilities, as with everything, and the probability is stacked way in the favour of the same result (bull run) coming from the same event (halvening).


To answer your other question - yes, to date a rising tide lifts all boats. When money flows into Bitcoin during a bull run it has historically been mirrored throughout the market, and statistically altcoins have always outperformed Bitcoin.

 

[jasonforrest]

I don't really get what the question is or why it's being asked tbh.

bullish on stablecoins? uhh.. I think they play an important role in the crypto-ecosystem, wouldn't say I'm "bullish" on them. They're just a valuable kind of technology imo

bullish on DeFi? It's hard not to be enthusiastic about DeFi right now, don't you think?

Like I said I don't really get how this question correlates with the topic of the thread.


It's literally the polar opposite of speculation. There is tangible data that whales are accumulating.

If i remember correctly you were saying you believe in stable coins and Bitcoin wasn't much of anything great. I can dig up the replies, was months ago. You don't remember?

 

[alonelywriter]

True (re trusting articles in general) but this is a) CoinTelegraph which is about as legit an information source in the crypto space as you're going to get, and b) based on data.

The story is about blockchain data, not opinion. Also, not to be nit-picky, but you can predict the market.. not with 100% certainty, but with logic you can say things with a high degree of confidence.

In this case, I'd say something like there is almost certainly going to be a bull run that begins relatively soon and culminates at around December 2021 with the new ATL price of BTC reaching at least $50K (super conservatively and actually pretty illogically considering current = $20k) and up to above $100K possibly, and all other cryptos being pulled up in the market as well as a part of the bull run.

This is based on:

- the 4-yearly halving cycle which so far has accurately mapped to all major bull runs throughout the life of Bitcoin
- the stock-to-flow model for Bitcoin which has an accuracy of more than 99.7% over the lifespan of BTC, and predicts the price of BTC will be about 100K in Dec 2021
- the huge levels of interest from institutionals over the past few years and the implications of only a small fraction of mainstream financial cash flowing into the crypto market
- the technical analysis of Bitcoin recently
- the incidence of the DeFi hype, which mirrors to the kind of hype with ICO's in 2017 that was pivotal in the launch of the last bull run.

Many others too.. but when you take many factors into account it forms a picture where you can accurately begin to predict what's going on. Without a knowledge of any of this then it would for sure be impossible to predict what might happen in the not too distant future.

They all predicted BTC Will cross 20K mark on the halving event. But guess What it didn't So no there is no certainity
And I say all predicted, every single btc expert had this thought.

 

[693840]

It's a good question, and one that depends on the amount of background info you have on how crypto works (as a market and a technology) and where we're at right now in relation to things.

A solid example of what I'm getting at is that 2017's bull run wasn't random. It didn't just happen at that point in time, but could have happened in 2018 or could have happened in 2019.. it happened in 2017 specifically for a good reason.

Bitcoin runs on a cycle.. every 4 years since it's launch the supply gets cut in half. Ask anyone with a cursory understanding of economics what it means when the supply of an asset drops dramatically while demand either remains stable or increases => increased scarcity.

It's not based on speculation and it's not based on guess work - you can model the impact of this increase in scarcity, and we know that this will happen ever 4 years that Bitcoin is still being mined.

Bitcoin's blockchain was launched in early 2009.. 4 years later (after the first halvening) we saw two major bull runs in 2013 not long after the supply was cut in half.

The same thing then happened 4 years later - again, not because of speculation or randomness, but because of a mechanism built into the core of how Bitcoin works that cut the supply in half again in 2016.

We just had another halvening for the 3rd time.

https://imgbb.com/

So for anyone who knows this information and thinks that there's more chance that for the first time that Bitcoin won't experience a significant increase in value following this halvening than it will repeat again, the onus is on you to explain what's different about this time, and what is the empirical data you have that brings you to this conclusion? (@Blackhat Lifter)

It's not saying that it's 100% certain, but you work on a scale of probabilities, as with everything, and the probability is stacked way in the favour of the same result (bull run) coming from the same event (halvening).


To answer your other question - yes, to date a rising tide lifts all boats. When money flows into Bitcoin during a bull run it has historically been mirrored throughout the market, and statistically altcoins have always outperformed Bitcoin.

Graphs graphs graphs graphs and graphs. Every 'expert' can predict the future in crypto. We will see where it ends (You don't have to reply to me or tag me, I'm not going to waste time readingit. GL future crypto millionaire!)

 

[ranga]

Never trust such articles, you cant just predict the market. No matter how experienced you are.

Thank God many people still think like that and that they haven't heard about technical analysis.

 

[ChristineAshe]

Great answer, thanks!

It's a good question, and one that depends on the amount of background info you have on how crypto works (as a market and a technology) and where we're at right now in relation to things.

A solid example of what I'm getting at is that 2017's bull run wasn't random. It didn't just happen at that point in time, but could have happened in 2018 or could have happened in 2019.. it happened in 2017 specifically for a good reason.

Bitcoin runs on a cycle.. every 4 years since it's launch the supply gets cut in half. Ask anyone with a cursory understanding of economics what it means when the supply of an asset drops dramatically while demand either remains stable or increases => increased scarcity.

It's not based on speculation and it's not based on guess work - you can model the impact of this increase in scarcity, and we know that this will happen ever 4 years that Bitcoin is still being mined.

Bitcoin's blockchain was launched in early 2009.. 4 years later (after the first halvening) we saw two major bull runs in 2013 not long after the supply was cut in half.

The same thing then happened 4 years later - again, not because of speculation or randomness, but because of a mechanism built into the core of how Bitcoin works that cut the supply in half again in 2016.

We just had another halvening for the 3rd time.



So for anyone who knows this information and thinks that there's more chance that for the first time that Bitcoin won't experience a significant increase in value following this halvening than it will repeat again, the onus is on you to explain what's different about this time, and what is the empirical data you have that brings you to this conclusion? (@Blackhat Lifter)

It's not saying that it's 100% certain, but you work on a scale of probabilities, as with everything, and the probability is stacked way in the favour of the same result (bull run) coming from the same event (halvening).


To answer your other question - yes, to date a rising tide lifts all boats. When money flows into Bitcoin during a bull run it has historically been mirrored throughout the market, and statistically altcoins have always outperformed Bitcoin.

 

[jasonforrest]

@VSYNC

your own words:

Cash is better than Bitcoin because it is legitimate and is run by the Federal Reserve and other noble central banks, therefore it has true value and is not a part of a system where only a very small amount of people at the top have all of the control.

Bitcoin on the other hand is not a legitimate, and can easily be shut down by governments and banks that provide the real money.

https://www.blackhatworld.com/seo/is-cash-better-than-bitcoins.1235122/
CBDC's will be stablecoins, from ^^ your above words i'd say you're bullish on dollars/fiat/stablecoins.

and to those who didn't understand "how can someone be bullish on stablecoins?" @SuperKingCheese you don't know anyone who's bullish on fiat? you living under a rock?

 

[Deleted member 1333509]

If i remember correctly you were saying you believe in stable coins and Bitcoin wasn't much of anything great. I can dig up the replies, was months ago. You don't remember?

My point then, as it still is now, was that stablecoins have a higher likelihood of being integrated into society as a replacement for fiat than Bitcoin.. I still fully believe that too.

Bitcoin's volatility makes it's use for day-to-day transactions prohibitive (obvs). There are many people that believe that as Bitcoin's adoption progresses it will become less volatile and more suitable for use in this way, but I don't believe that - instead I think that stablecoins will be what you're paying your bills with in 5 - 10 years and Bitcoin will remain overwhelmingly speculatory.

They all predicted BTC Will cross 20K mark on the halving event. But guess What it didn't So no there is no certainity
And I say all predicted, every single btc expert had this thought.

They? There are many, many "theys" in the crypto space that are abject idiots and have no idea wtf they're talking about.

You do see the difference between someone saying "I think Bitcoin will get to 100K" and someone saying "data supports the idea that Bitcoin will get to 100K"?

You are right though, nothing is 100%.

Graphs graphs graphs graphs and graphs. Every 'expert' can predict the future in crypto. We will see where it ends (You don't have to reply to me or tag me, I'm not going to waste time readingit. GL future crypto millionaire!)

Yeah that's what I thought. Casually shooting at other peoples' points is much easier than having to coherently create your own.

Maybe lay off the weights a bit and put that time into digesting some information about the topics you're chiming in on instead brother.

and to those who didn't understand "how can someone be bullish on stablecoins?" @SuperKingCheese you don't know anyone who's bullish on fiat? you living under a rock?

Bullish is a term that indicates your feelings regarding trading an asset for profit, so SuperKing is 100% right - how can you be bullish on something you (typically) don't trade for profit. I've honestly never heard a single person say anything about being bullish on stablecoins before, stood out to me as being a weird way to use that term too.

 

[jasonforrest]

You do understand the difference between someone saying "I think Bitcoin will get to 100K" and someone saying "data supports the idea that Bitcoin will get to 100K"?

Here ya go, can't forget s2f, nothing is certain, but he makes a damn good case:

https://medium.com/@100trillionUSD/bitcoin-stock-to-flow-cross-asset-model-50d260feed12

 

[jasonforrest]

My point then, as it still is now, was that stablecoins have a higher likelihood of being integrated into society as a replacement for fiat than Bitcoin.. I still fully believe that too.

Bitcoin's volatility makes it's use for day-to-day transactions prohibitive (obvs). There a many people that believe that as Bitcoin's adoption progresses it will become less volatile and more suitable for use in this way, but I don't believe that - instead I think that stablecoins will be what you're paying your bills with in 5 - 10 years and Bitcoin will remain overwhelmingly speculatory.

I agree then.

CBDC's will be integrated the same (or more) than cash is today.

While Bitcoin is future gold. Based on the gov/Fed continuation of (possible hyper) inflation and Bitcoins digital scarcity. Nobody will want to spend/pay with Bitcoin the same as today nobody pays with gold. We store value.

 

[anti_dote]

So if BTC hits $50,000 what happens to ETH?

 

[jasonforrest]

So if BTC hits $50,000 what happens to ETH?

Since day one ETH has been nothing but smoke & mirrors. Can't even figure out the max supply.

 

[Deleted member 1333509]

CBDC's will be integrated the same (or more) than cash is today.

Government run stablecoins without decentralised ones as well would be a fucking orwellian nightmare and I deeply hope they don't try to ban non-gov stables.

While Bitcoin is future gold. Based on the gov/Fed continuation of (possible hyper) inflation and Bitcoins digital scarcity. Nobody will want to spend/pay with Bitcoin the same as today nobody pays with gold. We store value.

Yeah agreed. It's interesting to consider the nuances between gold and Bitcoin thought and the implications of them. For eg, gold has all but been eradicated as a form of payment and is pretty much strictly a store of value. But Bitcoin has a much higher propensity for its use in payments.

So if BTC hits $50,000 what happens to ETH?

$2,000 would be conservative, and more likely double that or more taking into account Ethereum 2.0, the ETH 2nd layer payments system, DeFi's reliance on Ethereum and other things (institutional integration of ETH in increasing too)

Since day one ETH has been nothing but smoke & mirrors. Can't even figure out the max supply.

Technologically, Ethereum really is revolutionary and is going to have such a huge part in the future of the world imo.

 

[Toz]

I think ETH could have the capacity to easily surpass BTC IFF (if and only if) they can sort out these insane gas price issues.

As I said before, BTC is only #1 because it has name recognition.

 

[t2van]

THE PROBLEM with crypto or BTC in particular is everyone jumps in wanting to make money over night. Not everyone can become a millionaire from it as it just doesn't work for every 1 lucky person 100s would have given up before hand.

I think with BTC you should try and hold 0.01% (or even 0.005%) or whatever that is at current price say $120... just hold that 1% and forget about it. When and IF it rises to say 100k - 150k a coin you still got 0.01% just now thats worth $1500...

But no people rather dump stupid amounts of money into it, buy on highs, sell at the first dip, freak out and shit all over it.

IF your smart about it I think BTC is a smooth investment no interest account in todays market is going to give you $1300 back in interest where as small amounts like that can make all the difference in some peoples lives just they rather focus on the big impossible win..

 

[Deleted member 1333509]

I think ETH could have the capacity to easily surpass BTC

Absolutely agree.

IFF (if and only if) they can sort out these insane gas price issues

ETH 2.0 will be critical - 6 to 8 weeks away, and we could see the value of ETH skyrocket as a result of that if the transition goes well.. it's a really significant event.

Gas fees and the mempool could be obliterated with E2

THE PROBLEM with crypto or BTC in particular is everyone jumps in wanting to make money over night. Not everyone can become a millionaire from it as it just doesn't work for every 1 lucky person 100s would have given up before hand.

I think with BTC you should try and hold 0.01% (or even 0.005%) or whatever that is at current price say $120... just hold that 1% and forget about it. When and IF it rises to say 100k - 150k a coin you still got 0.01% just now thats worth $1500...

But no people rather dump stupid amounts of money into it, buy on highs, sell at the first dip, freak out and shit all over it.

IF your smart about it I think BTC is a smooth investment no interest account in todays market is going to give you $1300 back in interest where as small amounts like that can make all the difference in some peoples lives just they rather focus on the big impossible win..

Yeah 150%.. some people are smart enough to take long term view and hold BTC etc knowing that it's got a high likelihood of climbing within the space of a few years at most.

 

[t2van]

So Paypal is now accepting BTC and ETH I read that right? You can buy using Paypal but also pay merchants with it through their platform... ?