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[Merged] Bitcoin - Part 3

maybe the general public has finally figured out there's not a whole lot of use for the stuff?
 
Wow. Looked at BTC rates today, after a long time. Neither hold the stuff, nor have any intention to: but given Musk, and not to mention Trump, thought I'd check. It's 91.8k, apparently! Double wow.

This was a great gamble, actually, for anyone that might have been looking for ways to profit off of a Trump win. For those so inclined, that is to say. Me, I wouldn't care to profit off of the orange horror's rise, and nor, in any case, had I expected he'd win. But, for those that might have thought he might, and for those whose scruples wouldn't keep them from profiting off of that, then putting something into BTC is something they might have profited massively off of.

I looked at estimates just now --- just glanced at what Google threw up, without checking sources or methodologies --- and apparently they're predicting it will breach 100K. Which it well might, why not. It's a bubble, sure, but a bubble that has no reason, unless something completely unexpected happens, to deflate over the next two or three years at least.
 
Michael Saylor keeps raising his average price, not so long ago it was 35k.
His profit is wiped out with a modest 43% decline from the peak of about 99750.
99% of Microstrategy is owning bitcoin, and the stock is trading at 3 times the value of its bitcoin holdings.
Fascinating bet, Nelson Bunker Hunt and silver comes to mind.

"As of Sunday, MicroStrategy held approximately 386,700 bitcoins, acquired for an aggregate purchase price of about $21.9 billion and an average purchase price of approximately $56,761 per bitcoin."

 
Been hearing that for over a decade though. Appears not to be happening.

I mean, government can't stop people from bartering between themselves on any legal or moral grounds, as long as applicable taxes aren't being dodged. Crypto is a bartering chip with an agreed on value (via market valuation). What could government even do in theory?
 
what i mean is that they're buying up crypto now, going to buy tons of it with tax payer money for the government reserve, then cash out and leave the taxpayer and anyone who isn't smart enough to get out as the bag holder. they could siphon billions of taxpayer money to themselves through crypto.
 
they already have millions in a bunch of different crypto right now. but even if you didn't, what would buying at ath today mean to you if you could inject tens of billions of someone else's money in tomorrow?
 
dirtywick said:
they already have millions in a bunch of different crypto right now. but even if you didn't, what would buying at ath today mean to you if you could inject tens of billions of someone else's money in tomorrow?
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That would indeed be better done with something smaller, but still well known. Still it seems too complicated. Why not just steal the money ? Worked for generations.
 
dirtywick said:
what i mean is that they're buying up crypto now, going to buy tons of it with tax payer money for the government reserve, then cash out and leave the taxpayer and anyone who isn't smart enough to get out as the bag holder. they could siphon billions of taxpayer money to themselves through crypto.
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That is classic CT. It doesn't even make sense. How could politicians use tax payers' money to "pump 'n dump" crypto and profit personally from this? Are you claiming that they have already bought BTC at a lower price and are now using tax payers' money to push up the price before selling their individual holdings?
 
psionl0 said:
That is classic CT. It doesn't even make sense. How could politicians use tax payers' money to "pump 'n dump" crypto and profit personally from this? Are you claiming that they have already bought BTC at a lower price and are now using tax payers' money to push up the price before selling their individual holdings?
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yes. for one, they already have large holdings in crypto right now, including their own tokens and an exchange, so we are halfway there.

unless you can state what the taxpayer benefit to the us investing hundreds of billions into a large strategic reserve of crypto, that seems to be it's only use
 
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dirtywick said:
yes. for one, they already have large holdings in crypto right now, including their own tokens and an exchange, so we are halfway there.
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Who? the politicians or the government? In the case of the government, how much tax payers' money did they use to buy crypto (as distinct from the cryptos they got from asset seizures)?

dirtywick said:
unless you can state what the taxpayer benefit to the us investing hundreds of billions into a large strategic reserve of crypto, that seems to be it's only use
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If your theory is that the only reason the government has crypto is to enrich individual politicians then the onus is on you to show some evidence.
 
well, it's just my feeling on the hundreds of billions of taxpayer money that will end up on the crypto market if they are successful in pushing a republican effort for the government setting up a strategic reserve in crypto through a republican house and republican senate while backed by trump. as far as who they are, it's those individual politicians and probably many more, and all the heavily into crypto rich guy backers that trump has in his orbit. which is a lot of people with a lot of money that own a lot of crypto that want more. i can't see a way this isn't completely abused by these guys

i apologize for my lack of initial clarity, but it has nothing to do with what you're talking about.
 
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