"Everybody gets Bitcoin at the price they deserve" ~Dan Held
Here's another picture for you. One that's even clearer:
The car is a hyundai ioniq.. if you buy it with one bitcoin, you still have 3k euros left to buy someOk, what do I see?
I see an idiot line.
With idiot spikes.
What was your point exactly?
To confirm my point that this is highly unsuited to act as money?
And only suited for speculation?
I also never understood this reference. Imagine PE being tied to btc in 2009. Opalo = 1BTC. And you now need 5 BTC to kill a dasp e.g.
Who would pay 200k$ to do it?
I.
"I also never understood this reference. Imagine PE being tied to btc in 2009. Opalo = 1BTC. And you now need 5 BTC to kill a dasp e.g.
Who would pay 200k$ to do it?"
It's actually quite simple. it means that whatever you do with regular fiat.. you are going to lose all your possessions in the long run, because of inflation.
Inflation is skyrocketing, and its because most countries printed an enormous amount of dollars/euros/fill in any coin, causing everything to go up in price. Turning the dollarprinter on can make a government turn away from a really sad truth, that the debt can never be payed back, that's why the ceiling of debt keeps getting hightened. The ped is tied to the dollar, whicjh is losing value. The reverse is true about Bitcoin. There is a limited amount, it can never exceed 21 million. There are 65 million people on earth with more than 1 million dollars.. those 65 million cannot all own one bitcoin. You can't print anymore bitcoin, nobody is "the boss of bitcoin".
I am not suggesting Entropia uses bitcoin, Wizz was pointing out that it was going down and therefor crypto is not viable as a means of payment in entropia. That why I posted the meme, to show him Bitcoin isn't really going down in the long run. But we have the ped, and it is sort of a stablecoin already. It's only not publicly tradeable. If Mindark were to change this, it could catch the attention of an enormous crowd of people wanting to play "play to earn crypto" games. They can keep it tied to the dollar, but we would be able to buy it on exchanges with whichever other cryptocurrency. Like a PED/BTC market. So you could buy PED with Bitcoin..
My Bitcoin amount keeps growing weekly due to staking dividends, what are you saying?5 months have passed, the inflation monster is unleashed as predicted.
But, tell me, how did bitcoin (or any other crypto) hedge you against this rampant inflation so far?
yes, fair enough, that YOU bought them for 4k.My Bitcoin amount keeps growing weekly due to staking dividends, what are you saying?
If you are reffering to the price of bitcoin in old currencies.. I bought my bitcoins on Friday march 2020. You can snark at me if Bitcoin goes below 4,598 euros
Ahh,. well that is due to Luna terra. Luna terra had a stablecoin USt, but instead of pegging it against the dollar, they bought up huge amounts of bitcoin to use that as a counterweight for their stablecoin. Then bitcoin went down a bit and there was a huge spike in their stablecoin, which should stay around the dollar.yes, fair enough, that YOU bought them for 4k.
But what about all those suckers buying at 30k or 40k, or even worse, at 60k?
But that was not the point at all.
The point was, inflation is being rampant but bitcoin (and all other shitcoins) are tanking at the moment.
Contra-dictionary to what you claimed.
How come?
Ahh,. well that is due to Luna terra. Luna terra had a stablecoin USt, but instead of pegging it against the dollar, they bought up huge amounts of bitcoin to use that as a counterweight for their stablecoin. Then bitcoin went down a bit and there was a huge spike in their stablecoin, which should stay around the dollar.
People lost faith in that stablecoin and as a result their crypto Luna tanked, went from 110 usd to 3 dollarcents today. Since the project failed the large amounts of bitcoin were no longer needed and sold back to exchanges to save all there was to save. So now we have a nice buying opportunity today. Never waste a good crisis!
Yeah a hedge against inflation. We will see what happens in the world the coming 2 years. I think a major crash due to hyper/stagflation is coming. In our country its even worse, because we don't have enough personnell to grow, while inflation is almost the highest in Western-Europe. Nobody predicted Putin was actually this stupid. I still think Bitcoin is a major means to save your assets, even if you bought at 60k. Just don't sell and HODL. Bitcoin can recover really fast. Millionaire yesterday, broke today, Billionaire tomorrow. But ofcourse it could also be " Bubble" , but then again.. it;s a bubble thats been going on since 2011... Crypto holders call this the bear market. When the next halving comes, the sky will be the limit again. But I don't have a crystal ball. What I did see, was that bitcoin behaved differently during the covid-crisis. When it hit, bitcoin fell to 4300 euros.. (that's when I bought) but recovered within 2 weeks and then came two huge peaks Unlike that other asset, Gold, which did nothing. I am hoping history repeats itself. Ofcourse a lot of big companies are invested now, and that could mean it starts correlation more and more with Wall street/The worlds stock exchanges . We will see.But it's ALL the coins that are tanking right now.
So Luna Terra is responsible for this decimation of all crypto's?
I'll be totally honest, I have about 0,1% knowledge about crypto's and what drives their value (other than hype), but as spectator I see only a very big crash happening, and that while most fanboys shouted that it would be the perfect hedge against inflation.
lol, I have no idea what I'm doing, so just bought 20k LUNA for 0,012.Yeah, bought me some more Polygon Matic, now that the prices are really low. and I also got 100 euros worth of LUNA.. now that its 0,03 euros instead of 100 euros (speculation)
lol, I have no idea what I'm doing, so just bought 20k LUNA for 0,012.
Just need a dead cat bounce to 50 and I'll be a millionaire!
Luna got to a dollar before ust didLUNA token is not looking very stable. It lost 98% of its value.
guess I could have better just deposited it in entropia.lol, I have no idea what I'm doing, so just bought 20k LUNA for 0,012.
Just need a dead cat bounce to 50 and I'll be a millionaire!
Luna got to a dollar before ust did
well, that is, IF you can ever sell.crypto is like 2.0 guns.. you smile twice ... once as you buy,, once as you sell