wait no, it already broke $40k for a moment. so further up it should go... i think?
it's the porn trade

Issue of state power is that states can force people to pay taxes in their currency, or they can confiscate real assets and give currency in exchange (taxation in another guise). This is the underlying basis for the value of these currencies. Currencies that suffer hyperinflation are those issued by governments that lack enough military/police power relative to currency. Whereas bitcoin cannot force anyone to pay taxes in bitcoin. What's more, anyone can setup a competitor to Bitcoin, and hundreds have indeed done just that: there is no scarcity of digital currencies themselves, only a scarcity within each such currency.nomadscientist wrote: ↑Wed Jan 06, 2021 5:02 pmUnlike shemp, I do not think this is ruled out by BTC's lack of state power. BTC may not be able to exercise physical force, but brute force cannot break modern encryption.
that's a great assessment, and it works for me, as im in it only to make dollars, and will gladly pay taxes on the profits--provided there are anyshemp wrote: ↑Thu Jan 07, 2021 3:41 pmIt's so obvious to me that Bitcoin is eventually going the way of these other crazes. Might take 20 years for a roundtrip back from zero to million or whatever and back to zero, but zero is the final destination, of that I'm certain. Or the trip might be much shorter and who knows what the high point will be.
Y'all had all weekend to get out in the $39k-$41k range. Now around $34k. Could easily pop back up to new highs this week, but when a gigantic parabolic trend is broken like this, I would be careful!
I actually think that is the case because of increased volatility across securities. BTC is even more volatile than most stocks, but I think relying on 200 day moving averages to follow trends isn’t the best idea in today’s environment.