Bitcoin is still early

[Panscan]

dollar hegemony is eroding

Russia and China dealing in yuan. Of course after we rug pull russias treasuries who can blame them.

China and Brazil apparently also don’t need the dollar for trade

probably nothing

People say this stuff once a decade , yet it never happens. Not sure China is the economy id want to be coupled with looking at their next 10-20 years

[Touchdown]

Until the CCP gives up central control and stops manipulating the RMB’s worth thus not allowing for its true value to be discovered by the market it will never be a viable candidate for a reserve currency. They are never going to give up that control, which is why Saudi Arabia told them emphatically no when they floated the idea. Brazil I suspect is being forced to do this and will convert any excess RMB ASAP at their own expense to some other currency.

[bovie]

Until the CCP gives up central control and stops manipulating the RMB’s worth thus not allowing for its true value to be discovered by the market it will never be a viable candidate for a reserve currency. They are never going to give up that control, which is why Saudi Arabia told them emphatically no when they floated the idea. Brazil I suspect is being forced to do this and will convert any excess RMB ASAP at their own expense to some other currency.

Yeah, 0% worried about the RMB as reserve currency in my lifetime.

Or those of my children. Or grandchildren. And probably their children too.

[xraygoggles]

dollar hegemony is eroding

Russia and China dealing in yuan. Of course after we rug pull russias treasuries who can blame them.

China and Brazil apparently also don’t need the dollar for trade

probably nothing

China is Brazil's largest trading partner - so not surprising and doesn't mean anything without that context. Also: China's entire economy is one massively leveraged bet on mortgages - what could possibly go wrong?

Russia is not a strong economy. Nothing burger.

Ur right tho - it is nothing, sarcasm notwithstanding.

[jacoavlu]

BRICS gdp has surpassed G7 gdp

it is not necessarily a given that some erosion of dollar hegemony is a bad thing for Americans

[CordMcNally]

Looking at various countries kind of reminds me of growing up. Growing up, you always felt like the adults had it together and knew what they were doing. As you get older, you understand that really isn't the case and most are just kind of winging it. It's the same way for countries and their leaders.

[pitt1166]

BRICS gdp has surpassed G7 gdp

it is not necessarily a given that some erosion of dollar hegemony is a bad thing for Americans

could you explain a bit further please?

i find a lot of the crypto maxi's to be, on some level, rooting for america's decline.

[jacoavlu]

could you explain a bit further please?

i find a lot of the crypto maxi's to be, on some level, rooting for america's decline.

Lyn Alden has written about this quite a bit, here’s an example.

https://twitter.com/lynaldencontact/status/1641465281049501697?s=46&t=06M7iHiSGs-ncspnXTt5zQ

dollar dominance is not a pure positive for all Americans. for one thing, the ability to print the reserve currency means we don’t have to produce as many goods and services

[NapoleanDynamite]

I guess that makes me in to Bitcoin S and M then

This is one from 7/25/22 last year that is holding up particularly good right now. It was referencing DCA-ing into Bitcoin. Someone told me I should never DCA into Bitcoin unless I was in to "getting whipped"

Sorry...This is me not staying humble and stacking sats. Still stacking sats, but the humble part I had to let go of for a minute.

[G]

This is one from 7/25/22 last year that is holding up particularly good right now. It was referencing DCA-ing into Bitcoin. Someone told me I should never DCA into Bitcoin unless I was in to "getting whipped"

Sorry...This is me not staying humble and stacking sats. Still stacking sats, but the humble part I had to let go of for a minute.

Sure things have been good over the last few months. But let's look at the videotape:

https://forum.whitecoatinvestor.com/general-investing/204494-bitcoin-lets-see-if-wci-s-head-explodes/page2

Napoleon, 5/10/20: "BTC goes up to 6 figures in the next few years"

I'm sure you will respond with how it has performed better than the S&P, gold, my whisky collection (actually, it hasn't). But let's just face facts. It's been a "few years". And BTC is nowhere close to "6 figures."

I respect that you kinda sorta took a stand on a number and a time frame. I do not respect that you cherry pick which data you choose to crow about.

[NapoleanDynamite]

Sure things have been good over the last few months. But let's look at the videotape:

https://forum.whitecoatinvestor.com/general-investing/204494-bitcoin-lets-see-if-wci-s-head-explodes/page2

Napoleon, 5/10/20: "BTC goes up to 6 figures in the next few years"

I'm sure you will respond with how it has performed better than the S&P, gold, my whisky collection (actually, it hasn't). But let's just face facts. It's been a "few years". And BTC is nowhere close to "6 figures."

I respect that you kinda sorta took a stand on a number and a time frame. I do not respect that you cherry pick which data you choose to crow about.

Here is the full original post. Feel free to use your own link to verify. I have bolded the exact prediction. If you are going to say I am cherry picking data, why don't you at least direct quote me correctly. I'd say the bolded statement was pretty on target. It reached between 50K and 200K and it also didn't stay there. Now I don't make predictions like this, other than to say it will likely go up and be a very good investment. I have learned and changed a lot since 5/2020 as well.

"So...
In the past 2-3 years I have spent a lot of time learning about Bitcoin. In the process, I have actually learned a lot about the market, macro economics, fiat currencies, and history. And although 3 years ago I stated that I would never invest in Bitcoin as it was just a scam/ponzi scheme this was mostly because I didn't understand it. However, I recently decided to invest some money into Bitcoin. And yes, I do now consider it an investment and not just a gamble.

I actually wanted to buy it about 4-9 months ago but felt the price was too high so I waited for a dip. Sure enough when the economic tide dipped in March I bought a significant amount. I bought the first signficant dip at 8K, then watched it dip to 3500 and I freaked out a little (not gonna lie) but held strong. After I got my mojo back, I bought more at 4500. Then I bought more at 6K. I now have a "position" in Bitcoin. It is not a large portion of my overall retirement fund but it is about 5% right now. I don't plan to take it more than 10% anytime soon although with the volatility it may get there soon without further investment. If it does get to more than 10% I will probably re-balance a little.

Either way, I wanted to throw this out there for documentation. I predict Bitcoin will be somewhere between 50K and 200K over the next 2-4 years. It will not stay there, but it will get there. I believe in 2-4 years it will be significantly higher than the 9800 it is trading at right now. Feel free to call me crazy and a nut. I have thick skin. But mostly I wanted to document this as it is a disagreement that I have been having with WCI over the past 2 years in some of his posts. I do believe at this point that anyone who is not taking at least a tiny position in Bitcoin (be it 1%) is not being wise with their investment dollars.

As mentioned, feel free to flame away, and in 2 - 4 years if BTC no longer exists or sits at 1 dollar, you can all tell me how wrong I was. However, if I am right I will come back and let you know too .

Hope everyone is safe and enjoying the ride that is life!"

[Panscan]

Here is the full original post. Feel free to use your own link to verify. I have bolded the exact prediction. If you are going to say I am cherry picking data, why don't you at least direct quote me correctly. I'd say the bolded statement was pretty on target. It reached between 50K and 200K and it also didn't stay there. Now I don't make predictions like this, other than to say it will likely go up and be a very good investment. I have learned and changed a lot since 5/2020 as well.

"So...
In the past 2-3 years I have spent a lot of time learning about Bitcoin. In the process, I have actually learned a lot about the market, macro economics, fiat currencies, and history. And although 3 years ago I stated that I would never invest in Bitcoin as it was just a scam/ponzi scheme this was mostly because I didn't understand it. However, I recently decided to invest some money into Bitcoin. And yes, I do now consider it an investment and not just a gamble.

I actually wanted to buy it about 4-9 months ago but felt the price was too high so I waited for a dip. Sure enough when the economic tide dipped in March I bought a significant amount. I bought the first signficant dip at 8K, then watched it dip to 3500 and I freaked out a little (not gonna lie) but held strong. After I got my mojo back, I bought more at 4500. Then I bought more at 6K. I now have a "position" in Bitcoin. It is not a large portion of my overall retirement fund but it is about 5% right now. I don't plan to take it more than 10% anytime soon although with the volatility it may get there soon without further investment. If it does get to more than 10% I will probably re-balance a little.

Either way, I wanted to throw this out there for documentation. I predict Bitcoin will be somewhere between 50K and 200K over the next 2-4 years. It will not stay there, but it will get there. I believe in 2-4 years it will be significantly higher than the 9800 it is trading at right now. Feel free to call me crazy and a nut. I have thick skin. But mostly I wanted to document this as it is a disagreement that I have been having with WCI over the past 2 years in some of his posts. I do believe at this point that anyone who is not taking at least a tiny position in Bitcoin (be it 1%) is not being wise with their investment dollars.

As mentioned, feel free to flame away, and in 2 - 4 years if BTC no longer exists or sits at 1 dollar, you can all tell me how wrong I was. However, if I am right I will come back and let you know too .

Hope everyone is safe and enjoying the ride that is life!"

Did you sell any?

[G]

Here is the full original post. Feel free to use your own link to verify. I have bolded the exact prediction. If you are going to say I am cherry picking data, why don't you at least direct quote me correctly. I'd say the bolded statement was pretty on target. It reached between 50K and 200K and it also didn't stay there. Now I don't make predictions like this, other than to say it will likely go up and be a very good investment. I have learned and changed a lot since 5/2020 as well.

"So...
In the past 2-3 years I have spent a lot of time learning about Bitcoin. In the process, I have actually learned a lot about the market, macro economics, fiat currencies, and history. And although 3 years ago I stated that I would never invest in Bitcoin as it was just a scam/ponzi scheme this was mostly because I didn't understand it. However, I recently decided to invest some money into Bitcoin. And yes, I do now consider it an investment and not just a gamble.

I actually wanted to buy it about 4-9 months ago but felt the price was too high so I waited for a dip. Sure enough when the economic tide dipped in March I bought a significant amount. I bought the first signficant dip at 8K, then watched it dip to 3500 and I freaked out a little (not gonna lie) but held strong. After I got my mojo back, I bought more at 4500. Then I bought more at 6K. I now have a "position" in Bitcoin. It is not a large portion of my overall retirement fund but it is about 5% right now. I don't plan to take it more than 10% anytime soon although with the volatility it may get there soon without further investment. If it does get to more than 10% I will probably re-balance a little.

Either way, I wanted to throw this out there for documentation. I predict Bitcoin will be somewhere between 50K and 200K over the next 2-4 years. It will not stay there, but it will get there. I believe in 2-4 years it will be significantly higher than the 9800 it is trading at right now. Feel free to call me crazy and a nut. I have thick skin. But mostly I wanted to document this as it is a disagreement that I have been having with WCI over the past 2 years in some of his posts. I do believe at this point that anyone who is not taking at least a tiny position in Bitcoin (be it 1%) is not being wise with their investment dollars.

As mentioned, feel free to flame away, and in 2 - 4 years if BTC no longer exists or sits at 1 dollar, you can all tell me how wrong I was. However, if I am right I will come back and let you know too .

Hope everyone is safe and enjoying the ride that is life!"

It was a direct quote. That is pretty much the function of the quotation marks. And why I listed the date because I'm not sure how the post numbers are always reliable when accounting for filtering. I copied it below.

I missed your other kinda sorta forecast among the logorrhea. Hey--no sarcasm-- I hope it 2-7x's in the next year so that you can do retirement, the Ferrari, clinic, etc. I'm typically silent on these threads, reading them for amusement, but I am weary of misplaced boasting.

"I do believe that at some point things will change with the USDas a reserve and all fiat currency as a whole. However I have no idea when. Possibly not in my lifetime. I also only have a vague idea as to what that might look like. It is a change that is almost difficult to fathom....like changing from horse and buggy to automobile.

But if I am correct, and BTC goes up to 6 figures in the next few years and nothing changes with the USD and how goods are exchanged, then I would eventually exchange some of the BTC back to the USD and use it (retirement, buy a Ferrari, invest in a startup clinic in a third world country etc). This would mean there would have been a huge return on the investment. I would still hold most or all of it for quite a long time because I would only see it going up from there.

If it does become something I use for goods and services then it is very likely that the USD would be very weak and I would need the BTC to pay for things. Again, this is hard to imagine happening quickly, but not out of the realm of possibility over the next 5-20 years. So in the case that I am using it for goods and services, it would be worth significantly more than it is now and I would be very glad to have it as my dollars wouldn’t be worth nearly as much as they are right now."

[jacoavlu]

plenty of signal out there but exchange rate crossing $x0,000 isn’t one to put much stock in

wish I’d aped into steel sport watches when I had the chance

[G]

plenty of signal out there but exchange rate crossing $x0,000 isn’t one to put much stock in

wish I’d aped into steel sport watches when I had the chance

Inventory seems to be returning. Or perhaps the market has been saturated. Or both.