Bitcoin will probably start going up soon

[WizardofSoda]

Bitcoin has an insane value proposition for most people in the world.. A store of value that is outside of what the men with guns whether gangsters or corrupt government officials where they live can see. And you can trade this value instantly to anyone in the world. You can also have as many wallets as you want, further hiding it all. And this transfer of value can go across borders.

You can create a parallel economy with this like cash. For example say you do work for somebody worth $1,000. You can get paid with $500 in normal money that you declare on your taxes and get hit by a shitload of taxes and all the people on the government payroll get a piece of it. But the other $500 he gives you in Bitcoin.

The guy paying you $500 in regular money also has to pay stuff like confiscatory sales taxes on that.

 

[Darius L]

Incelcoin is going to be victorious

 

[PLA1092]

I dislike cryptocurrency mainly due to the types who use it; the concept itself seems rather based to me.

 

[WizardofSoda]

I dislike cryptocurrency mainly due to the types who use it; the concept itself seems rather based to me.

In Russia for example the government imposed currency controls 2 weeks into the war. So then people couldn't transfer their money from Rubles to other currencies. But people with their money in Bitcoin they jetted off to other countries. Then even bought real estate in those other countries, by exchanging some of their Bitcoins for the local currency and depositing it with lawyers in those countries.

 

[Khanivore]

In Russia for example the government imposed currency controls 2 weeks into the war. So then people couldn't transfer their money from Rubles to other currencies. But people with their money in Bitcoin they jetted off to other countries. Then even bought real estate in those other countries, by exchanging some of their Bitcoins for the local currency and depositing it with lawyers in those countries.

Rich ass Russian oligarchy!!! Hey, you, mister oligarch, donate me some money right now

Well, i can do nothing to you, mista oligarch, so.. yeah

Okay, okay, im just fooling around

I want to get out of this shithole country, and go for life in Murica

 

[Dab into depression]

bitcope isn't going to rise like that anymore sadly

 

[starcrapoo]

Nah with the fed raising interest rates to battle inflation, don't expect Bitcoin to go up anytime soon.

Not until 2024 or even 2025.

 

[Ehwhatever]

You're probably right, but a 300% roi in 2-3 years isn't worth it for poorcels. I see it going back up to 50k+ after the recession but if you only have a couple grand to invest that's nothing. Good advice for money moggers though.

 

[WizardofSoda]

Nah with the fed raising interest rates to battle inflation, don't expect Bitcoin to go up anytime soon.

Not until 2024 or even 2025.

I think it might gradually rise up to $30,000. Then possibly go higher say when interest rates stop rising.

 

[WizardofSoda]

You're probably right, but a 300% roi in 2-3 years isn't worth it for poorcels. I see it going back up to 50k+ after the recession but if you only have a couple grand to invest that's nothing. Good advice for money moggers though.

Ya poorcels imo are better to just have those few thousands in savings incase they need it.

 

[HyperVersager_4EVER]

Inflation is still a problem, stock market is still down, Russo-Ukrainian war is ongoing.
Not the environment where people start buying high risk assets. I don't really expect another crypto bull run soon really.

Not until 2024 or even 2025.

I am not sure really if it will take that long but yes, it will take some time certainly.

 

[WizardofSoda]

Inflation is still a problem, stock market is still down, Russo-Ukrainian war is ongoing.
Not the environment where people start buying high risk assets. I don't really expect another crypto bull run soon really.

I am not sure really if it will take that long but yes, it will take some time certainly.

An interesting thing is people have to put their money somewhere.

-stocks
-bonds
-residential and commercial real estate

Those are the main ones. Stocks people are scared shitless of and they probably have another 20% to go down when talking about the whole market. Real estate is falling now. Bonds are actually looking good for people, like you can now get 10 year Treasuries at 3.69%.