This Ends in Antioch wrote:
Nardi wrote:
GoldenJet wrote:
Just added $500 to my bitcoin...I now have $650.
My guy says it has no resistance and will top $100k by end of year.
The haters are mocking third world countries for going all in. But think about this. The third world accounts for 10 trillion dollars and 3 billion people. Bitcoiners claim, rightly or wrongly, it can't be stopped.
We shall see. We will also see if the "politicians for the downtrodden" really do care about the poverty stricken of the world.
It’s the only interesting question on this thing (to me).
At what point will governments try to regulate and will it be too late?
It's already too late. China has "outlawed" Bitcoin and Bitcoin hasn't skipped a beat. I guess governments could address it the way the West is addressing "climate change", take down the Internet with all the consequences that would have just like the consequences we are about to see from taking down the fossil fuel industry. That's cutting your nose off to spite your face though.
That said, in the relatively short term I think governments could make enough moves to temporarily crash the price. And I'm not sure what "temporarily" would be- five years? ten years? to get back to where it is now. Who knows and who knows if that will even happen. I think it's more likely to just keep rising as the USD is debased. But I'm almost 60 years old. and I bought my Bitcoin cheap. I sold a little this week. If I were 25 I would just HODL like a motherfucker.
I'm having thoughts at my age that I never even considered before. A while back I had an opportunity to buy into SpaceX. The minimum investment was $2.5 million. Obviously, I don't have that. But a friend and I were able to put together a group. I had to really sell my wife on putting our 50 grand in. She's a lot more conservative than I am. At the last minute, SpaceX raised our share price from $400 to $436 and the deal blew up. The two biggest guys in the deal said, "Fuck these people." Personally, I didn't care about the extra 9%. This is something where I figured my $50,000 would be worth well over a million in 20 years. To me that little extra was insignificant. Maybe that's why the guys who opted out are rich and I'm not.
But it got me thinking. In twenty years I'll be almost 80. Is it really going to matter if I have an extra million dollars? I don't have any kids to leave it to. I don't really need to take big risks in an attempt to hoard wealth.