Bitcoin is still early

[CordMcNally]

Good timing Tim

https://www.cbssports.com/nfl/news/panthers-russell-okung-becomes-first-nfl-player-to-be-paid-in-bitcoin/

No, NFL player Russell Okung is not being paid in Bitcoin (msn.com)

Unfortunately most outlets are reporting the wrong information.

[chucki]

The media never likes to do their homework -- splashy headlines always sell. I think Okung is making a brilliant investment, however. Obviously he can afford more risk with his (presumed) net worth.

[NapoleanDynamite]

I am not really sure what the moon would be with bitcoin. It has gone higher then I expected already. Seems pretty bubbly. I do not have convictions strong enough to put money on it but I bet we see 10k again before 100k.

The "moon" predictions range anywhere from 40K to 500K amongst the "experts" for the next 12 months. The "moon" targets for the next 5 years range from 100K to 5M by some of the same "experts". Of course 10K is possible again. So is zero. But for the next 12 months my bet would be on 100K before 10K. There is no world we live in where bitcoin price is still 28K in 5-10 years. It will either be significantly higher, or zero.

[CordMcNally]

There is no world we live in where bitcoin price is still 28K in 5-10 years. It will either be significantly higher, or zero.

That is still just a weird comment to me for everything Bitcoin is supposed to be.

[jacoavlu]

The "moon" predictions range anywhere from 40K to 500K amongst the "experts" for the next 12 months. The "moon" targets for the next 5 years range from 100K to 5M by some of the same "experts". Of course 10K is possible again. So is zero. But for the next 12 months my bet would be on 100K before 10K. There is no world we live in where bitcoin price is still 28K in 5-10 years. It will either be significantly higher, or zero.

ok so NapoleanDynamite has joined the bet

Lordosis where u at ?

[Brains428]

jacoavlu Are you gonna do the common twitter troll tag of "have fun being poor."

I guess you'd have to change your profile pic to Peter Schiff. Or maybe Pompliano eating crow.

[jacoavlu]

jacoavlu Are you gonna do the common twitter troll tag of "have fun being poor."

I guess you'd have to change your profile pic to Peter Schiff. Or maybe Pompliano eating crow.

certainly open to suggestions. Must be embarrassingly pro

[Lordosis]

ok so NapoleanDynamite has joined the bet

Lordosis where u at ?

I am at work lol. I usually do not let my day job interfere with my WCI forum posting obligations but I was busy this morning.

12 months Above 100K or less then 10K I can agree to those terms. Absolutely I will call the under. Call it a wash in the middle?

How about anytime someone claims greater then 15% yearly gains on any investment you have to one up them and claim something more outrageous for a couple months. And you can change your image to the one upper from SNL.

[CordMcNally]

How about anytime someone claims greater then 15% yearly gains on any investment you have to one up them and claim something more outrageous for a couple months. And you can change your image to the one upper from SNL.

That won't happen since jacoavlu likely has the usual offender on ignore but I like the concept.

[Lordosis]

That won't happen since jacoavlu likely has the usual offender on ignore but I like the concept.

Stipulation that during the payback period no ignores!

[abds]

1. Shorting bitcoin is an option.
2. I'm sure many traders have done so and made money. It has been highly volatile in its relatively short history.
3. My evidence is BTC's return over the past 12 years.
4. Your guess about "shorting Bitcoin in the past 4 years"...This is a factually incorrect statement.

If you want to look at any calendar year, there is only one time in the past 12 years that shorting Bitcoin would have worked out for you. December of 2017 to December of 2018. This short would have paid handsomely.

Is there a ton of volatility on shorter time frames that you could have won on a short bet? Yes. Absolutely. But overall, the short play has been wrong.

As I previously stated, I don't short anything. Stocks, Commodities, Market, currencies etc. I adjust my asset allocation in my portfolio if I feel it is warranted based on current data and my current life situation. So I'm probably not the best person to discuss trading or shorting with. I do trade a few stocks with some pocket change, but I always trade the long position and I don't count this as part of my retirement portfolio. That is "fun" money plain and simple.

Bitcoin is an asset class that now has over 0.5 Trillion dollar market cap. When it breaches 1T and 10T market caps you will see less volatility. In the mean time, short away if you don't agree. We will see how it goes. I have stated where my investment is at. Good luck.

Dude you are missing my point by so far I’m not sure I should even reply. You stated that shorting Bitcoin has not worked out well. I’m curious if you have data to support this. For example, TSLA short sellers have lost $50 billion dollars in the past 12 months. That is a fact that supports that shorting TSLA has been bad.

Bitcoin is volatile. It’s possible more people have made money than lost money by shorting it, unless you have evidence to support your claim.

I’m not saying anyone should short Bitcoin. Bitcoin may skyrocket for years to come. At no point have I implied it won’t. You’re so lost in your fanaticism that you’re not even reading these posts critically.

[xraygoggles]

There's a reason Big Money is buying in currently, in huge chunks, no less. One retired hedge fund manager, Raoul Paul, put 99% of his liquid net worth into crypto last month, 80/20 BTC/ETH. Check his Twitter if interested: RaoulGMI. I'm sure others are doing it as well, although not to that extreme. Michael Saylor had a short twitter convo with Elon, about the possiblity of putting his cash reserves in Bitcoin. While that is highly unlikely to happen, if it does, Bitcoin would immediately double in price.

You could argue it is prudent to have at least 1-5% of your liquid assets in crypto at this point. If kept at 1%, huge asymmetric risk potential right there. I personally have 15% of my current assets in crypto sphere (including blockchain stocks, ETFs, and coins).

[CordMcNally]

There's a reason Big Money is buying in currently, in huge chunks, no less. One retired hedge fund manager, Raoul Paul, put 99% of his liquid net worth into crypto last month, 80/20 BTC/ETH. Check his Twitter if interested: RaoulGMI. I'm sure others are doing it as well, although not to that extreme. Michael Saylor had a short twitter convo with Elon, about the possiblity of putting his cash reserves in Bitcoin. While that is highly unlikely to happen, if it does, Bitcoin would immediately double in price.

You like to mention the people speaking out for Bitcoin but you never mention the people speaking out against Bitcoin. Also, just because somebody is investing in it doesn't mean they think it is a great long term investment.

"When I see a bubble forming, I rush to buy, adding fuel to the fire." - George Soros

It just seems like there are a lot of people wanting to add fuel to the fire (I feel the same way about the EV sector currently). I have no doubt that many wealthy people could get even wealthier with Bitcoin while leaving many people with nothing left.

[xraygoggles]

You like to mention the people speaking out for Bitcoin but you never mention the people speaking out against Bitcoin. Also, just because somebody is investing in it doesn't mean they think it is a great long term investment.

"When I see a bubble forming, I rush to buy, adding fuel to the fire." - George Soros

It just seems like there are a lot of people wanting to add fuel to the fire (I feel the same way about the EV sector currently). I have no doubt that many wealthy people could get even wealthier with Bitcoin while leaving many people with nothing left.

Well, seeing how 99%+ of the posts on Bitcoin on this forum are negative or derisive, I am doing my part giving the opposing view.

[jacoavlu]

12 months Above 100K or less then 10K I can agree to those terms. Absolutely I will call the under. Call it a wash in the middle?

I think it is most likely, that neither the upper nor lower range is touched in 12 mos