13 replies to this topic

[MikeyG]

Bitcoin has zoomed to new year highs as gold has been "stuck in the mud". 

 

Bitcoin is a superior asset for many reasons such as portability, scarcity etc, so it makes sense. 

 

Instead of a portfolio of 5-10% of gold, we could be witnessing that transformation to 5-10% Bitcoin. 

 

As the asset matures and volatility decreases, this is a viable option. 

 

I will not go as far to say that Bitcoin could replace a diversified basket of stocks, but you never know as the risk to fiat increases. 

 

 

 

 

 

[hhh]

What do you do with Bitcoin when the power goes out?

[fib_1618]

What do you do with Bitcoin when the power goes out?

 

The same thing you do with any other asset class.

 

Fib

Edited by fib_1618, 10 February 2024 - 03:54 PM.

[hhh]

Gold doesn't need electricity.

[fib_1618]

Gold doesn't need electricity.

 

There isn't a single thing you can trade without electricity these days...or at least a battery.

 

This is like conversations we had when the NASDAQ and other OTC markets were created...and here we are.

 

Fib

[hhh]

Gold for food, or ammo, or whatever doesn't need electricity to trade.

[fib_1618]

Gold for food, or ammo, or whatever doesn't need electricity to trade.

 

All of that should already be part of your preparation for such events. Besides, try getting "change" when you use gold as your tender.

 

Anyway...high volume breakout today in Bitcoin with very little resistance between here and the all time highs at $65,000.

 

FWIW and all that.

 

Fib

[MikeyG]

US ETF's on pace to accumulate over 1M coins this year, this pace could speed up as the asset continues to increase. 

 

Hong Kong ETF's on deck along with halving and then we get FASB accounting rule change at the end of 2024. 

 

Not to mention cuts and more debasement. 

 

Not enough supply, only around 15M coins after accounting for "lost". 

 

And of those 15M, a third are not selling as they have been holding for over 5 years. 

 

Dave is spot on with technicals, new high test coming up. 

 

Not an E-Waver but would love to see a count from someone if this is in fact a mass adoption Wave 3. 

Edited by MikeyG, 12 February 2024 - 05:26 PM.

[MikeyG]

Here's Why You Can't Kill Bitcoin (youtube.com)

 

Will Bitcoin Survive If There’s NO INTERNET?? (youtube.com)

 

Reachable Bitcoin Nodes - Bitnodes

Edited by MikeyG, 12 February 2024 - 06:40 PM.

[Rogerdodger]

try getting "change" when you use gold as your tender.

Where did the expression "Pieces of eight" come from?

 

Here is my 2 bits...Based on history.

 

 "To make change, the coin was cut up to resemble pieces of a pie. Two pieces, or "two bits," of the silver coin made up a quarter, which is why Americans still may refer to a quarter (of a dollar) as two bits."

 

That's where "Pieces" of eight came from.

 

Pieces of eight were Spanish silver coins (pesos) that circulated along with other hard currency in the American colonies. Since the settlements in the New World were all possessions of their mother countries (England, Spain, France, Portugal, and the Netherlands), they did not have monetary systems of their own. England forbade its American colonies to issue money. Colonists used whatever foreign currency they could get their hands on. Pieces of eight (from Spain), reals (from Spain and Portugal), and shillings (from England) were in circulation; the pieces of eight were most common. The Spanish silver coin was so named because it was worth eight reals and at one time had an eight stamped on it.

 

But bullets may be more valuable during any apocalypse.

Maybe an assault musket or two also...

Bat guano for black powder...

or a crossbow?

 

Bat guano's high nitrate content provided a key ingredient for the production of gunpowder, and by 1863 a shortage of munitions and other goods precipitated by the Union blockade, prompted the South to seek alternative means of securing various supplies.
 

Edited by Rogerdodger, 12 February 2024 - 09:42 PM.