BITCOIN

adindas

Adyinvestment said:

MaxiRobriguez said:

He knows what he's doing.

He apparently was going to stop taking Bitcoin payments due to the environmental impact.

What's changed since in that regard to warrant taking them again? Nothing, only that the price has fallen enough that a media story pump will budge it up a few pc points again.

He freely admitted he is a pumper and not a dumper, also that he has Bitcoin in Tesla and SpaceX and also personally (along with Ethereum and Doge)

With the China clampdown (which I think is a great thing and not at all negative) Bitcoin mining has been getting more environmentally friendly, a report puts it at 56% renewable which is above the 50% Musk wanted for Tesla to accept it.

I don't like him, but from an investment point of view if he wants to tweet how amazing Bitcoin is for a few month's I will be well happy!

Elon Musk keeps talking negative about BTC energy use in the last few months but admitted he has not sold his position. And now he changed his story during the last B-Word conference.

Thrugelmir

adindas said:

Adyinvestment said:

MaxiRobriguez said:

He knows what he's doing.

He apparently was going to stop taking Bitcoin payments due to the environmental impact.

What's changed since in that regard to warrant taking them again? Nothing, only that the price has fallen enough that a media story pump will budge it up a few pc points again.

He freely admitted he is a pumper and not a dumper, also that he has Bitcoin in Tesla and SpaceX and also personally (along with Ethereum and Doge)

With the China clampdown (which I think is a great thing and not at all negative) Bitcoin mining has been getting more environmentally friendly, a report puts it at 56% renewable which is above the 50% Musk wanted for Tesla to accept it.

I don't like him, but from an investment point of view if he wants to tweet how amazing Bitcoin is for a few month's I will be well happy!

Elon Musk keeps talking negative about BTC energy use in the last few months but admitted he has not sold his position. And now he changed his story during the last B-Word conference.

Probably needs the money to fund his SpaceX ambitions. With Bezos and Branson getting all the positive headlines. 

adindas

Those who are interested in viewing the ₿ Word Conference with Cathie Wood, Jack Dorsey, & Elon Musk which was Streamed on Jul 21, 2021. You hear it from authoritative sources, people who know what they are talking about rather than from Random People on Internet.

Watch on YouTube

https://www.youtube.com/watch?v=Zwx_7XAJ3p0

Zola.

MaxiRobriguez said:

Malthusian said:

If Musk bought shares in his own company and then made an announcement to drive the price up, e.g. inventing an imaginary takeover bid, that would be securities fraud - and he has been successfully prosecuted for exactly that (he settled with the SEC).

My understanding however is that crypto is not regulated by the SEC, and if bros want to sell tokens to Musk and then later give him more money to buy them back, that's their own lookout. 

I am not sure if Musk's knowledge that he is about to make a statement on accepting Bitcoin counts as insider trading. The effect of him making an announcement could be cancelled out by the Chinese having another crackdown or just a general selloff with no particular cause. 

He knows what he's doing.

He apparently was going to stop taking Bitcoin payments due to the environmental impact.

What's changed since in that regard to warrant taking them again? Nothing, only that the price has fallen enough that a media story pump will budge it up a few pc points again.

Actually, China has banned bitcoin mining which has cut out A LOT of coal-powered mining. 

Then we have countries like El Salvador creating mining farms via geothermal.

And more research has shown that over 50% of mining is from renewables. 

Musk doesn't fully understand bitcoin and its processes, he talks a lot of !!!!!!. He looked lost and foolish at the latest bitcoin conference, no idea why he was even invited. 

adindas

Bingo the $40.000 resistance level has been consitantly broken today. The next resistance level is around 49k. Those who sold BTC during the sell off when BTC was around $29.850, about a week ago regret it now ??

Michael121

adindas said:

Bingo the $40.000 resistance level has been consitantly broken today. The next resistance level is around 49k. Those who sold BTC during the sell off when BTC was around $29.850, about a week ago regret it now ??

What's to regret? Missing out on 25% gain on a small % of any size portfolio is peanuts. If your going to put 5-10% in bitcoin its for one of 2 reasons. One you think its going to be worth 10x what it is now in whatever time frame or two you think it will preserve your wealth.

Who cares about some double up on 5 to 10%. Even if you had £10m total with £1m in BTC and you double it, you wouldn't actually feel that much richer would you. You need multiple double ups of that 10% to start getting all excited about it.

Scottex99

Or it's both reasons...plus a few others! 

Let's see how long it takes to really break down The Great Wall of $40k first

Michael121

Scottex99 said:

Or it's both reasons...plus a few others! 

Let's see how long it takes to really break down The Great Wall of $40k first

What other reasons do you have in mind?

adindas

Michael121 said:

adindas said:

Bingo the $40.000 resistance level has been consitantly broken today. The next resistance level is around 49k. Those who sold BTC during the sell off when BTC was around $29.850, about a week ago regret it now ??

What's to regret? Missing out on 25% gain on a small % of any size portfolio is peanuts. If your going to put 5-10% in bitcoin its for one of 2 reasons. One you think its going to be worth 10x what it is now in whatever time frame or two you think it will preserve your wealth.

Who cares about some double up on 5 to 10%. Even if you had £10m total with £1m in BTC and you double it, you wouldn't actually feel that much richer would you. You need multiple double ups of that 10% to start getting all excited about it.

Simple because $40K is just the beginning of breaking the barrier for another bull run.

Scottex99

Michael121 said:

Scottex99 said:

Or it's both reasons...plus a few others! 

Let's see how long it takes to really break down The Great Wall of $40k first

What other reasons do you have in mind?

79 pages of it here already. Inflation hedge and increased long term value as you said. Able to store and transfer value with no barriers, if I've got my seed phrase stored in my head I can literally travel all round the world with potential massive sums in my brain.

Imo it's the flagship of a paradigm shift in finance and many other industries. ETH is coming next and DeFi with that. 

Have said here many times before that BTC is going to $100k, let's see how long it takes.