Crypto 360°

Thursday, 27 June 2019

MRW I'm finally in the green with Bitcoin and my friends are telling me to sell

submitted by /u/SandwichOfEarl
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Why saving your fortune in precious metals is a bad idea: "The golden asteroid worth $700 quintillion that could make everyone on Earth a billionaire" --- I guarantee there isn't some asteroid with billions worth of bitcoin cash floating around waiting to be found :P

submitted by /u/Anenome5
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source https://www.reddit.com/r/btc/comments/c5zas0/why_saving_your_fortune_in_precious_metals_is_a/

I call this the 'REKT Wall'

https://i.redd.it/6z5f7qegmt631.jpg

submitted by /u/tripleclutch
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source https://www.reddit.com/r/btc/comments/c60ll1/i_call_this_the_rekt_wall/

I realize people left and right are getting excited about the price going vertical and I get it, however this is not the time to sell. Even if we dip back into that 11K range or sky rocket past 20K. Let me start of by saying I have traded in the stock market for 30 years and been in crypto since bitcoin was under a $1.00. I bought a bag of weed for 136 bitcoins ...

The main reason is Fiat is worthless. America is 22 trillion in debt. Just let that sink in for a moment. 22 fucking trillion dollars. How are they going to get out of that debt which is one of 2 ways. A default on the debt or print so much money it's worthless (trust me they are going to print it into obscurity). I keep seeing posts about 2-3% inflation over the last decade and this is so wrong due to what they classify what goes into inflation. It's really 6-7% and all you have to do is check your water bill, energy bill, housing, and or groceries.

Next we have what I call the other big three of the Euro, Yaun and Yen. Japan is 13 trillion in debt and 200% over GDP with a aging population. The Yuan is the strongest of the group, however how much is tied up in failed government backed housing, subsidies, banking on and on. Also if the dollar keeps printing then the yuan is going down big time with it. Lastly is the Euro with failed countries like Greece, Italy, and Spain. Actually the shinning beacon of the Euro is Germany who might opt out completely. In the next 5-10 years we might have multiple fiat currencies fail and if they do you want to be in crypto, real estate and or precious metals.

This is another start of a Bull run.. This rally is not being done by retail and instead this is institutions coming in and millionaire/billionaire crowd with deep pockets. Over the last 2 years this has really changed from retail crowd only to everyone wants 5-10% of their portfolio into crypto to spread out. The huge buy orders are institutions and smart money allocating a small percentage of their portfolio over different investment landscapes. This money is just going to increase HEAVY over the next few months. After the bigger guys are in you will start seeing the retail people chasing again on the FOMO.

Then lets talk about the scarcity of bitcoin. There is not 17,781,000 bitcoins available. Millions have been lost due to wrong passwords, failed hard drives, darknet websites, and even mining fees that were not collected properly. Over the last 30 months when we had the rise from 600 to 20K we have only seen 6.2 million bitcoins in wallets that have been active over that time frame. The real amount of bitcoins that can be accessed I believe to be more in the lines of 10-11 million. I really would not doubt 6-7 million bitcoins are completely lost for ever. Look at the Satoshi 750K that has never moved ( I am convinced it is the deceased Hal Finney)

This rally is completely different from the ones in the past. I can't put my finger on it, but it's different. In another post people are not talking about it like 2017 ( family members / coworkers asking me questions ect) All in all why trade a scare bitcoin for some fiat that is worthless.

Upvote if you agree

If you don't believe me check out other posts

https://www.reddit.com/r/Bitcoin/comments/6zshlu/time_to_buy/

Dip in late July 2016 post is on Bitcointalk

Dip from 1150 to 775 in January off the China bans bitcoin https://www.reddit.com/r/Bitcoin/comments/5ncue0/perfect_time_to_buy_bitcoin/

Dip from 1300 to 950 off the ETF https://www.reddit.com/r/Bitcoin/comments/5ycmci/about_time_to_buy_more/

Dip 2100 to 1700 https://www.reddit.com/r/Bitcoin/comments/6avtaq/sell_at_all_costs/

Dip from 2900 to 1800 https://www.reddit.com/r/Bitcoin/comments/6dj5kf/for_all_the_people_getting_burned_right_now_let/

Dip from 4400 to 3600 https://www.reddit.com/r/Bitcoin/comments/6v8z7q/sell_now_the_end_is_near/

submitted by /u/ridenourt
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