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Bitcoin's future in the next 2 years. Is it the new gold or the next Beanie baby craze?

TPGSTPGS Posts: 207 ✭✭✭

It blows my mind that something so virtual can out do something physical with intustrial use. Will the wolrd goverments put restrictions on trading bitcoin. Make bitcoin extremely trackable. It is used by ransomware and terrorists. A good reason to track it.
Elon Musk said tesla no longer accepts Bitcoin because of the use of coal and other fossil fuels used to mine bitcoin.
What positive use is bitcion other that to make people money and dark web transactions.

Bitcoin's future in the next 2 years. Is it the new gold or the next Beanie baby craze?

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Comments

  • DrBusterDrBuster Posts: 5,299 ✭✭✭✭✭
    Bitcion will hold it's value or increase

    Blockchain tech is here to stay. While the grid expense is crazy for mining I don't see it going away.

  • tincuptincup Posts: 4,719 ✭✭✭✭✭

    Blockchain tech and bitcoin are two separate things.

    Of course blockchain technology is here to stay. Bitcoin.... perhaps, perhaps not.

    ----- kj
  • rickoricko Posts: 98,724 ✭✭✭✭✭
    Bitcoin will crash and burn

    I think it is inevitable that governments will get into the picture with regulations and taxation.... I am sure they are working on such things already. Just too big to ignore. Cheers, RickO

  • taxmadtaxmad Posts: 960 ✭✭✭✭
    Bitcoin will crash and burn

    @ricko said:
    I think it is inevitable that governments will get into the picture with regulations and taxation.... I am sure they are working on such things already. Just too big to ignore. Cheers, RickO

    The conversion from FRN to FRC will be an intersting exercise. Will we all get 1:1 or will the haves get fractional coins while the have-nots get 1.+

    Based on the last two years, the idea that the Government has control over your money - and the ability to spend it - is something we should all fear

  • derrybderryb Posts: 36,010 ✭✭✭✭✭
    edited January 4, 2022 8:55AM
    Bitcion will hold it's value or increase

    As happened with PMs the addition of a bitcoin futures EFT (BTTO) will help restrain underlying asset price movement.

    Nobody Has Made Money Buying Bitcoin Since the ETF Was Listed

    Capital flows to where it is treated best. For the next two years cryptos are the new precious metal. At some point thereafter they becomes the new tulip.

    "Do you hear alarm bells ringing? Neither do I. And that’s a huge problem." - Simon Black

  • derrybderryb Posts: 36,010 ✭✭✭✭✭
    edited January 4, 2022 9:36AM
    Bitcion will hold it's value or increase

    @TPGS said:
    It blows my mind that something so virtual can out do something physical with intustrial use.

    Facebook nor Twitter have "physical or industrial" use. Value to anything virtual is based strictly on how widely it is accepted for "individual" use. Many cryptos have blockchain that is secure and usable for conducting transactions. Many have provided profitable opportunity to speculators/investors.

    Cryptos are becoming more accepted for conducting financial transactions and for protecting wealth. Like MySpace, iTunes Ping and Google Plus, nothing virtual lasts indefinitely; it will eventually fall out of favor. While one could argue that bitcoin is not "real," its blockchain code is - look for that to be the foundation of all coming Central Bank Digital Currencies.

    "Do you hear alarm bells ringing? Neither do I. And that’s a huge problem." - Simon Black

  • derrybderryb Posts: 36,010 ✭✭✭✭✭
    edited January 4, 2022 10:43AM
    Bitcion will hold it's value or increase

    @taxmad said:

    @ricko said:
    I think it is inevitable that governments will get into the picture with regulations and taxation.... I am sure they are working on such things already. Just too big to ignore. Cheers, RickO

    The conversion from FRN to FRC will be an intersting exercise. Will we all get 1:1 or will the haves get fractional coins while the have-nots get 1.+

    Based on the last two years, the idea that the Government has control over your money - and the ability to spend it - is something we should all fear

    Central Bank Digital Currencies (CBDC's) will be worse than a parent controlling his kid's allowance/savings. It will be like paypal having the power to freeze/refuse an account because of the "socially acceptable" nature of the business holding the account. Instead of federal influence over the banks that hold our money, CBDC's will give our central bankers instant, direct control over the financial affairs of each and every citizen. Throttling the positive or negative interest rate applied to the digital account, the central bank can motivate whether one chooses to save or to spend. In effect they become the demand side of the equation. Not only will Central Banks become the holder of the knife that can cut into one's ONLY money mattress - they become THE mattress with CBDC's.

    "Do you hear alarm bells ringing? Neither do I. And that’s a huge problem." - Simon Black

  • derrybderryb Posts: 36,010 ✭✭✭✭✭
    Bitcion will hold it's value or increase

    @ricko said:
    I think it is inevitable that governments will get into the picture with regulations and taxation.... I am sure they are working on such things already. Just too big to ignore. Cheers, RickO

    Approving a bitcoin futures ETF was the first move. Look for more ETFs.

    Markets (and responding prices) have historically found a way to "respond" to government intervention. Prohibition? Gold Confiscation?

    As with the higher tax rate on collectibles (to include coins and bullion) governments realize they will better serve themselves by finding ways to generate new/higher taxes on cryptos.

    "Do you hear alarm bells ringing? Neither do I. And that’s a huge problem." - Simon Black

  • scotty1419scotty1419 Posts: 927 ✭✭✭
    Bitcion will hold it's value or increase

    Its going to get very interesting as they start to tap out of new minable BTC.

  • TPGSTPGS Posts: 207 ✭✭✭
    edited January 7, 2022 6:38AM
    Bitcoin will crash and burn

    The Kazakhstan unrest being called a black swan event. The talking heads believe this could be a major problem for bitcoin and oil prices.
    Kazakhstan is the 2nd biggest country for bitcoin mining!!!
    The internet has been shut down for days. So NO bitcoin mining can or will happen in Kazakhstan.
    Shoot to kill orders have been invoked. Lots of dead police and officals.

  • TwoSides2aCoinTwoSides2aCoin Posts: 43,746 ✭✭✭✭✭

    Dissolving assets.

  • derrybderryb Posts: 36,010 ✭✭✭✭✭
    edited January 24, 2022 11:09AM
    Bitcion will hold it's value or increase

    I stand by my position that in the long term Bitcoin (and all big market cap cryptos) will increase in value. They have, as currently demonstrated, been subject to corrections/dips, yet they always coming back stronger. While the speculator dash to cash in equities will drive cryptos down, that cash will likely go to cryptos before it goes back to equities.

    Those who have not yet tasted cryptos and those who smartly took crypto profits off the table are in store for some good, upcoming crypto buying opportunities. Don't forget, volatility offer great opportunity.

    "Do you hear alarm bells ringing? Neither do I. And that’s a huge problem." - Simon Black

  • cohodkcohodk Posts: 18,489 ✭✭✭✭✭

    @derryb said:
    Those who have not yet tasted cryptos and those who smartly took crypto profits off the table are in store for some good, upcoming crypto buying opportunities.

    I believe it may be difficult to fund enough new blood. Folk have seen these collapse too many times. In the end, fear trumps greed.

    Excuses are tools of the ignorant

    Knowledge is the enemy of fear

  • derrybderryb Posts: 36,010 ✭✭✭✭✭
    edited January 24, 2022 1:59PM
    Bitcion will hold it's value or increase

    @cohodk said:

    @derryb said:
    Those who have not yet tasted cryptos and those who smartly took crypto profits off the table are in store for some good, upcoming crypto buying opportunities.

    I believe it may be difficult to fund enough new blood. Folk have seen these collapse too many times. In the end, fear trumps greed.

    In the end fear will trump greed with all investments back by nothing. But, is this the end? I think not, I believe it will continue to rebound until one day it does not. I believe the current drop is a knee jerk reaction to stock market concerns and FED promises. Dash to cash is always the first step, until heads cool.

    "Do you hear alarm bells ringing? Neither do I. And that’s a huge problem." - Simon Black

  • cohodkcohodk Posts: 18,489 ✭✭✭✭✭

    @derryb said:

    @cohodk said:

    @derryb said:
    Those who have not yet tasted cryptos and those who smartly took crypto profits off the table are in store for some good, upcoming crypto buying opportunities.

    I believe it may be difficult to fund enough new blood. Folk have seen these collapse too many times. In the end, fear trumps greed.

    In the end fear will trump greed with all investments back by nothing. But, is this the end? I think not, I believe it will continue to rebound until one day it does not. I believe the current drop is a knee jerk reaction to stock market concerns and FED promises. Dash to cash is always the first step, until heads cool.

    You may be benefitted with a study of technical analysis on these.

    Excuses are tools of the ignorant

    Knowledge is the enemy of fear

  • derrybderryb Posts: 36,010 ✭✭✭✭✭
    Bitcion will hold it's value or increase

    how does one technically analyze tulips?

    "Do you hear alarm bells ringing? Neither do I. And that’s a huge problem." - Simon Black

  • cohodkcohodk Posts: 18,489 ✭✭✭✭✭

    @derryb said:
    how does one technically analyze tulips?

    Just like anything else.

    Excuses are tools of the ignorant

    Knowledge is the enemy of fear

  • taxmadtaxmad Posts: 960 ✭✭✭✭
    Bitcoin will crash and burn

    @cohodk said:

    @derryb said:
    how does one technically analyze tulips?

    Just like anything else.

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