Listen now | The entire cryptocurrency sector is crashing, with bitcoin now well below $30,000. This is big, says Dominic Frisby. So just how low could bitcoin go?
If you’re still on the btc sidelines now is a great time to read a book called Bitcoin by some bloke with a beard. Highly entertaining and informative at the same time and may just change your life.
I love the idea of Bitcoin. You, and Robert Breedlove have espoused many of its humanitarian values and yet I stand on the sidelines because I am fearful of investing my hard-earned, lifetime's earnings against the behemoth Goliath that is the <1%. Their manipulation of the >99% mean this is a mammoth task to get people out of the 'debt is money' thinking, especially when Governments are as corrupt as they are.
Wise words... It's a massive manipulation, and with the crypto exchanges the house can see where all the best are placed and act accordingly.
Obviously scope for winners with all that volatility, but requires huge patience and scepticism and I expect luck.
And it's all a game where they can rug pull the entire board, by tanking a few more stablecoins.
I expect if the peasants stop adopting it and trying to flow their income into the game, that'll be the next thing. Dom already knows the CBDCs are coming. It's just a case of how hard they're prepared to play.
The only reason I buy ETH & BTC is in the hope that one day, when I'm not here, my kids think I'm a genius and I've sorted their future. What will 0.01 BTC be worth in 2040 I wonder?
Great chat, thanks very much! I am unconvinced by Bitcoin, but remain open to persuasion! :) Might you consider the adage 'Safe as houses' (notwithstanding your observations on a house price crash in c 2025, and precis on land taxes as opposed to income taxes) as a topic of your examination and considerations in the light of the volatility in global non-property assets. Does the adage stack up, is my query. I think it does, but again within a diverse portfolio of assets. Perhaps you said it best today: if you have quality assets and do not require liquidity, do not sell!
My concern with Bitcoin, as with all our current internet systems, is the advent of quantum quantum computing.
When dear old Satoshi Nakamoto developed Bitcoin he/she/nominate used the then cutting edge hardware/software.
Are Bitcoin and our existing security systems capable of dealing with hardware that is currently 3 million times faster (one additional qubit doubles the speed) than that which we are used to. I find it had to conceive on just what that speed and power is. Granted I'm an old fart but 3 million time faster would, I think, be a complete game changer.
As a old fart, give me something tangible, fungible which I can hold in my hand.
Yes, sympathies to those losing 6-7-8 figure fortunes. As a Doge maxi I had this all last year. And discovered leverage just in time for the September 6th correction. I was fairly opposed to stock trading as a means of accumulating wealth and a teen and have now wasted almost 2 years on it.
It was too tempting to stay value based when 20 years of speculation was working for others, and the world was going nuts in many other realms as far as I was concerned.
Oh well, back to the wheel of pain, the rat run, ...or actually being involved in valuable goods and services to your fellow humans.
If you’re still on the btc sidelines now is a great time to read a book called Bitcoin by some bloke with a beard. Highly entertaining and informative at the same time and may just change your life.
Some bloke with a beard is my pen name
I love the idea of Bitcoin. You, and Robert Breedlove have espoused many of its humanitarian values and yet I stand on the sidelines because I am fearful of investing my hard-earned, lifetime's earnings against the behemoth Goliath that is the <1%. Their manipulation of the >99% mean this is a mammoth task to get people out of the 'debt is money' thinking, especially when Governments are as corrupt as they are.
Wise words... It's a massive manipulation, and with the crypto exchanges the house can see where all the best are placed and act accordingly.
Obviously scope for winners with all that volatility, but requires huge patience and scepticism and I expect luck.
And it's all a game where they can rug pull the entire board, by tanking a few more stablecoins.
I expect if the peasants stop adopting it and trying to flow their income into the game, that'll be the next thing. Dom already knows the CBDCs are coming. It's just a case of how hard they're prepared to play.
The only reason I buy ETH & BTC is in the hope that one day, when I'm not here, my kids think I'm a genius and I've sorted their future. What will 0.01 BTC be worth in 2040 I wonder?
Just make sure they have the password to your wallet after you are gone. Written down and left in a safe is one way of doing this.
Good point. Maybe easier than them trying to get face recognition to work on my phone using my lifeless, bloated corpse!
Great chat, thanks very much! I am unconvinced by Bitcoin, but remain open to persuasion! :) Might you consider the adage 'Safe as houses' (notwithstanding your observations on a house price crash in c 2025, and precis on land taxes as opposed to income taxes) as a topic of your examination and considerations in the light of the volatility in global non-property assets. Does the adage stack up, is my query. I think it does, but again within a diverse portfolio of assets. Perhaps you said it best today: if you have quality assets and do not require liquidity, do not sell!
Great article.
My concern with Bitcoin, as with all our current internet systems, is the advent of quantum quantum computing.
When dear old Satoshi Nakamoto developed Bitcoin he/she/nominate used the then cutting edge hardware/software.
Are Bitcoin and our existing security systems capable of dealing with hardware that is currently 3 million times faster (one additional qubit doubles the speed) than that which we are used to. I find it had to conceive on just what that speed and power is. Granted I'm an old fart but 3 million time faster would, I think, be a complete game changer.
As a old fart, give me something tangible, fungible which I can hold in my hand.
Probably better to hedge with physicals and the 5000 years of history that have proved their worth.
Yes, sympathies to those losing 6-7-8 figure fortunes. As a Doge maxi I had this all last year. And discovered leverage just in time for the September 6th correction. I was fairly opposed to stock trading as a means of accumulating wealth and a teen and have now wasted almost 2 years on it.
It was too tempting to stay value based when 20 years of speculation was working for others, and the world was going nuts in many other realms as far as I was concerned.
Oh well, back to the wheel of pain, the rat run, ...or actually being involved in valuable goods and services to your fellow humans.
Sorry to read this - good luck. Leverage is a killer. Literally.
Go well.
The establishment wants control back, some comments from Christine Lagarde.https://markets.businessinsider.com/news/currencies/ecb-christine-lagarde-crypto-criticizes-worth-nothing-calls-for-regulation-2022-5?utm_source=facebook.com&utm_medium=social&utm_campaign=sf-bi-main&fbclid=IwAR0rPXtcZxDgZIzadeWnamJogY7nYKf74ljQqZ4KpcnVFHk15lMON_q2S64