BREAKING!!! Bitcoin breaks $34.000!!! (Update )

Bitcoin is the only asset that’s not under big banker control. So basically BTC is the only asset behaving perfectly normal now in the hyper USD inflation.

Seriously?

When did this happen?

I bet all the people here who referred to bitcoin as shitcoin are feeling pretty stupid now

It is a commodity. And certain properties of it make it usable as money.

It's about as close to true "price discovery" as we will ever get.

And this is based on what?

A third of all USD ever printed was printed last year alone.

Don't forget the Spoofytards!

An asset is " a useful valuable thing". What is it's use in order to be valued at this amount?

lambo dreams

Because it cannot be controlled by .govs, of course.

"Whales" can move the price, though, which is why I said "about as close."

The big correction isn't likely until September or November of 2021 in which the price could be 200K by then.

You might as well set yourself up to buy fractions of BTC continuously all the way up.

People see the writing on the wall....and are dumping the dollar.. it had to happen..you can't print trillions with an economy on the floor..

Satoshi Nakamoto invented the blockchain. The blockchain solved the double spending problem for digital assets. The first digital asset that can’t be CTRL-C-CTRL-V’d if you get my point.

The dollar is also useless, but it is "backed by the government", well until it fails also, what is cypto backed by?

What is the use of gold to be valued at $1900/ounce? Is it useful to store thousands of tons of it in highly secured bunkers where they will NEVER see the light of day or be used for anything or even moved a millimeter ever again?

Last Edited by Bernd on 01/02/2021 09:17 AM

It's been pretty resistant to pullback lately.

Dogecoin was up 40% in a single day yesterday.

Holding a truckload of it would probably make some good money this summer.

This is the thing. Bitcoin is trustless. It doesn’t need a middle man. The banks are not needed anymore.

I just have a feeling it could bounce here at this line a little bit
[link to www.tradingview.com (secure)]

Bitcoin is backed by consensus valuation. You can think of it like bartering goods. If it has value to anyone else, then it truly has intrinsic value.

Duly noted.

So just add more zeros to what it worth if you need more value?, I.E. a BTC started off at say 10 dollars so not enough value, add some more zeros, and it's now 10,000 dollars. Isn't that fractional currency with no asset value?

I think your chart makes sense, but I don't think I would be shorting it for the entire year.

The TA people I listen to and read, say sometime around October the fractal cycle will be complete.

Expect a "very large" sell-off this fall.

But if it's not backed by anything isn't it also "Trustless" like a check by a Nigeran Prince.

The mining difficulty is doubled every four years roughly. This means that BTC is steadily more and more expensive to produce. Satoshi thought of everything. This is the silver bullet against central banking.

It is the postage stamp that is needed to do any operation (timestamp, contract, etc) on the Bitcoin blockchain. You need them to use any service of this network. As such it has by definition intrinsic value greater than zero.

You aren’t asking out of curiosity.
You are just a butthurt nocoiner.

That beast can’t be manipulated like Gold and silver. To the fuggin moon!