BITCOIN

RichTips

"UK regulators to allow crypto-related securities"

"Bitcoin bulls are not the bigger fools"

Not my words. They're both from the FT, today.

DannyCarey

 And here we go! Almost $72,000 now

Scottex99

I wonder when peak fomo starts. I’ve already seen a few posts like “I only have 0.01 BTC, am I going to make it?!”

Every single person on the planet now in profit if they bought spot and held it.

Assuming you didn’t sell the bottom when it crashed, got wrecked by leverage, put all your ETH into 10,000 piece NFT collections of Kangaroos smoking Js, or any other degen stuff.

It’s going to be a big year, time to start dumping the bags on the newbies 🤓

RolandFlagg

Exciting times.

It's gone under the radar a bit but now Uncle Larry at Blackrock has applied for BTC to be added to Global Allocation funds, which I believe are like Vanguard Lifestrategy funds?

This could be a bigger deal than the Bitcoin only ETFs.

Many top clients who just want Blackrock to put them in a one stop fund will not even realise that Blackrock have allocated them 1% BTC or more. It's basically a trojan horse.

And speaking of trojan horse...Saylor buys more BTC.
If MSTR eventually get a S&P 500 slot then it's going to have a massive flywheel effect (watch the YouTube videos done by Quant Bros).

Even the FT had a positive view today.

First they ignore us, then they mock us, then they fight us. Then we WIN.
And as the excellent Ben Felix pointed out the 60/40 portfolio is basically dead with Bonds not only underperforming stocks (never mind BTC) but they actual add risk.

Times are changing.

MeteredOut

This thread is turning into twitter.

To the moon. HODL.

joep2

This is bigly bullish, congrats to all hodlers!

https://www.marketwatch.com/amp/story/bitcoin-jumps-to-fresh-record-as-trump-offers-some-praise-for-the-cryptocurrency-6d837739

Scottex99

MeteredOut said:

This thread is turning into twitter.

To the moon. HODL.

COULD be construed as cope.

ATH been called for months on here with valid reasoning imo.

ETFs sped it up, people have realised what money printing has done to inflation and how messy monetary policy is. BTC has a fixed supply.

Could it be faddy? Yes. Could there be some black swan lurking? Yes. People in the game 5+ years are happy they’ve made it through with their bags and (for now) have a nice return on their investment.

Its going higher.

Scottex99

Actually I was being nice and just saw the “ponzi-peddler” comment some pages back.

GL with the cope. 

Highly advisable to fomo in at $80k once you change your mind 

MeteredOut

The thing about anything that is driven by the greater fool theory is that it is those who have “made money” (mostly on paper) who make the noise, driving further FOMO, as evidenced by this thread when the price is rising as opposed to falling.

Frequentlyhere

RichTips said:

"UK regulators to allow crypto-related securities"

"Bitcoin bulls are not the bigger fools"

Not my words. They're both from the FT, today.

That second one is an opinion piece, and honestly doesn't seem to have any more solid ground than "price goes up, so I guess it good".
It actually fairly systematically debunks any utility in bitcoin, but then finishes "There is an old Wall Street saying for moments like this: only the fools are dancing, but the bigger fools are watching"

Which is about as posh a version of 'FOMO' as I've seen.

To be honest though, if people like @scottex99 ,who seem to have their eyes open about the risks and spend little time talking about the supposed real world utility of the thing, then fair play to them.

The things I still mainly don't like about it are:

1) The real world bad things - funding crime, harm to environment.
2) The harm to less wise people who are sucked into  propagandising about price/utility.
3) The deception/outright lying that some do - "Bitcoin is good for the environment" " More fraud in the US dollar" I find very grating still.
4) Kind of linked to the above, this thing where the price goes up and suddenly ordinary PF boards are infiltrated with giddy excitement of fervent speculators, who then retreat like crabs into the rocks when the tide comes in.

Though in fairness I do think 3) and 4) are declining somewhat (unless this run goes on much longer perhaps!).