People who are terrible with their money will order a $12 meal for $26 through a food delivery app but complain about tipping the driver $2
If you can't tip delivery drivers, don't order food delivery
You can't afford it
Bitcoin Skeptics: Bitcoiners are gambling
Bitcoin holders: No, I studied money, psychology, energy, game theory, economics, property rights, and history for thousands of hours.
Bitcoin at $700k:
Bitcoin Skeptics: Bitcoiners got lucky
Bitcoin holders: No, I studied money, psychology, energy, game theory, economics, property rights, and history for thousands of hours.
#Altcoin season is imminent.
Telegram: @Rajatsonitrades
This #Bitcoin breakout is just getting started...
Contrary to what
@PeterSchiff
has been saying for 10+ years:
Gold will continue to bleed value forever in terms of #Bitcoin, just like real estate, stocks, and bonds.
I don't think gold's price will drop in terms of dollars (prices never go down in terms of $).
An ounce of gold went from costing 500 BTC to now only costing 0.03 BTC.
Eventually, it will be 0.01 BTC. Then 0.001 BTC. Then 0.0001 BTC.
Why would you want to store your wealth in something that is going to continue to lose real value forever?
http://Gold.org states that 212,582 tonnes of gold has been mined throughout history.
Out of this number, 66% was mined since 1950, and 75% since 1910.
All of the gold that was ever produced is still around.
People think gold will continue to have value over the next 1,000 years because it had value over the last 1,000 years.
I have two problems with this:
1) Oceans have huge gold deposits 1-2 miles underwater.
Today, it's not profitable to get to these deposits.
At what gold price does mining these deposits become profitable?
Humans will eventually find a way to get to this gold when/if the price gets high enough.
Bonus: Along the way, they will destroy the natural habitat of various species.
This is not capitalism.
This is free markets at work.
When the price for a commodity goes up, new supply will enter the economy whether that's previous holders or people who can produce new units at a profit.
Even if mining under oceans is illegal, people will find ways to get to that gold.
The supply will be inflated and the average person will have no idea.
Producers will be able to extract wealth from previous holders by selling newly mined supply into the economy.
The crazy thing is we have no idea if this is already being attempted!
2) How do we know the total amount of gold that exists?
It's impossible to account for gold that's kept in safes or buried in random places around the world.
Gold has been seen as valuable for thousands of years.
We have no clue how much has been mined because there is no record of every ounce that was ever found.
We ALSO don't know how much of it will be mined in the coming years.
How do you, as a gold investor, know that government agencies haven't found massive stores of gold that nobody knows about?
How do you know the gold you're buying isn't part of the 212,582 tonnes of supply that "exists"?
BITCOIN is the solution to all of this.
We've been trying to find a form of money that works and gold fit the description very well for thousands of years.
We used gold as a placeholder for Bitcoin.
Why do we need a physical store of value in an increasingly digital world?
Bitcoin is called digital gold because it will demonetize gold.
Demonetization means gold's price drops to its utility value.
Bitcoin is a better long term store of value than all other assets.
It's the only commodity that has a fixed supply that can never be changed.
Anyone with internet access can confirm exactly how many coins are in existence.
Every address holding Bitcoin is audited every 10 minutes by tens of thousands of computers in the world.
Every Satoshi (fractions of Bitcoin) that has ever been created is accounted for, unlike grams of gold.
Today, people hold gold because they think it's money.
They will get rid of it once they realize we have finally found a digital commodity that works much better to fulfill the functions of money.
At some point, there will be no pump in #Bitcoin   's price in anticipation of a halving
Because Bitcoin won't be priced in fiat anymore
1 #BTC    will pump to 1 BTC and then crash to 1 BTC
Blackrock's #Bitcoin    ETF now holds 250,667 BTC, up 4,716 from yesterday.
Buying is back up - as the price comes up, it will increase. Rich people FOMO will start after $100K IMO.
900 BTC are issued per day. Around April 20, this will drop to 450.
Blackrock clients bought ~5x of the amount of BTC that was produced.
18-24 months from now, there will be people who are excited about #Bitcoin    entering a bear market, because "this time, it's going to 0."
And then 4 years after that, and 4 years after that, and 4 years after that...
You get what I mean.
Bitcoin is never going to 0.
People who wish Bitcoin goes to 0 (like
@PeterSchiff
) can't imagine being wrong about something.
They missed out and now they want everyone who DIDN'T miss out to suffer.
Just like the supply of new BTC is scheduled (it decreases 50% every 4 years), so are the crashes.
On a sound money standard, NO ENTITY IS TOO BIG TO FAIL.
When the price of Bitcoin goes up, retail investors get confident and start lending their BTC to financial institutions and making terrible decisions.
These financial institutions start lending coins irresponsibly to earn a profit.
In the legacy financial system, mistakes are forgiven by providing bailouts. This is because the legacy financial system is built on fake money (fiat currencies) that can be created out of thin air.
On a Bitcoin standard, there are no bailouts.
If you make mistakes, you're going to be taken out.
A few months after April's halving, innovation will be at its peak. Anyone who built during the bear market will probably be very successful during the bull market.
When the price of Bitcoin rises as a result of supply being cut by 50%, new businesses start offering services and products that are of immense value.
But not all of these companies are doing what they say they do...
After two years of prosperity is when the scammers are exposed (eg. FTX, Luna, etc).
Over the next few years, we'll go through the same cycle that we went through the LAST few years. We'll hit a higher high. Then we'll hit a higher low. Then we'll be back to 50%-60% below the previous all-time high.
This will happen over and over again until we are no longer using USD to value Bitcoin.
With each cycle, there's more adoption - more people learn how Bitcoin works and they start moving their fiat wealth, which is worthless, into the scarcest asset in the world.
In the next 6-18 months:
• There will be people offering you 15-20% returns for lending your BTC
• There will be others selling you some garbage that they created
• There will be a lot more new coins that promise riches and wealth
Study Bitcoin so you don't fall for the scams.
The people saying #Bitcoin is a scam today
Are miserable because they feel like they missed out
They will also be saying it's a scam at:
- $100k
- $250k
- $500k
- $1m+
You can choose to listen to them and miss out on the future of money
Or you can study Bitcoin and change your family's finances FOREVER
$IBIT, Blackrock's #Bitcoin ETF, has had $1 Billion+ in volumes every day since February 26. This is 23 trading days.
In less than 3 months of trading, it's ALREADY one of the most liquid ETFs in the world. 🤯
If you still think Bitcoin is a joke, let go of your ego and study it.
This is not going away.
Ever.
Exchanges hold 60% of the total supply of ETH while they hold less than 10% of the total Bitcoin supply.
Why is there such a massive difference?
Why did Ethereum's management team get Ether for free, when everyone else has to exchange their hard-earned savings for it?
I've partnered with The Bitcoin Adviser to help you with UTXO management, setting up self-custody, creating a multisig wallet, etc.
I know how daunting it can be to transfer your coins off an exchange.
It took me at least 100 hours of research before I could take the leap.
If you want help with taking your #Bitcoin    off exchanges and don't know how to do it, book a FREE appointment with a Bitcoin Adviser:
Telegram: @Rajatsonitrades
#Bitcoin    is a gamble...
Just like everything else in life.
Your brakes can fail while you're driving to work.
Your ceiling could collapse while you're sleeping.
Most people don't check their brakes every time they drive.
They don't hire an inspector to check the structural integrity of their house every time the weather acts up.
Taking chances is part of being human.
If you don't take chances, your life will be full of regrets.
I trust that Bitcoin will survive the next 20 yeare MORE than I trust the engineer who designed my car or house.
Why?
Because the people working on Bitcoin come from all kinds of backgrounds and there are potentially millions of eyes on the code at any given moment.
Bitcoin is considered "boring" because it works, just like the foundation of your house or the steel frame of your car.
Bitcoin will be around as long as humans exist because it's the only solution to a problem we had for THOUSANDS of years (centralization and debasement of money).
If Bitcoin survives, adoption will increase.
If adoption increases, the price goes up.
Most people have ZERO allocation because they claim that they "don't want to gamble."
I think Bitcoin will no longer be seen as a gamble by most people by 2030.
By then, Bitcoin can be worth 50-1000x what it is today because network effects become exponentially more powerful as as a technology is adopted.
At some point, people are going to be paying $1 for 0.000001 #Bitcoin or 100 Satoshis.
Today you can buy 1400 Satoshis for $1.
Institutional money is starting to come in.
Do you understand what this means?
You are AHEAD of large corporations.
Coinbase getting attacked by the SEC
Probably irrelevant for #Bitcoin, but you should get your BTC off exchanges ASAP.
$IBIT's market cap increased by $1.3 billion since just a few days ago even though the purchases slowed down a bit.
Purchases will ramp up again when the price goes up.
Most people are still on the sidelines and will eventually FOMO into #Bitcoin
In the current financial system, your wages rise over time but you lose purchasing power.
1971: ~$10,000 average annual income could support a family of 4.
Today: ~$60,000 average annual income can barely support an individual.
#Bitcoin fixes this.
On a Bitcoin standard, you will see smaller nominal figures over time for income and prices, but the purchasing power of your savings will increase over time.
In 2009: 1 BTC bought nothing
In 2012: 1 BTC bought 1 fast food meal ($12.48)
In 2016: 1 BTC bought 2 weeks of groceries for a family of 4 ($654.76)
In 2020: 1 BTC bought 6-8 months of groceries ($9,314.28)
Today: 1 BTC has the purchasing power to buy ~4-5 years worth of groceries ($70,380.64)
In 2028, what will 1 Bitcoin buy? What will 0.1 Bitcoin buy? How about 0.01 Bitcoin?
Bitcoin's purchasing power increases over time because it has a finite supply and can fulfill all the functions of money.