Prediction: Bitcoin Will Hit $100,000 by the end of 2021

[RedBeardedSavage]

This is why you don't take financial advice from the guy down the block that thought "letting Robby Anderson walk was a yuge mistake."

[RutgersJetFan]

1 hour ago, RedBeardedSavage said:

This is why you don't take financial advice from the guy down the block that thought "letting Robby Anderson walk was a yuge mistake."

I, for one, am shocked that a random football forum guy named Barry McCockinner on the internet has not been handing out successful investment advice. 

[southparkcpa]

5 hours ago, Biggs said:

I like driving on roads.  I like electricity, zoning, schools, traveling safely, having clean water brought right to my house.  Access to health care.  Protection from foreign invaders.   Police, fire, garbage collection, law, etc., etc., etc.

Don't think I could earn a living without a structure in place.  Probably have to have a bunch of kids to plow the back 40.  

That would be 1/2 the budget……. The rest is all pork.     We need basic services, not tens of thousands of employees in departments that serve no purpose.  

[Barry McCockinner]

4 hours ago, RutgersJetFan said:

I, for one, am shocked that a random football forum guy named Barry McCockinner on the internet has not been handing out successful investment advice. 

My prediction was obviously wrong but Bitcoin just broke $10k the day I started this thread.

So even after the huge drop you'd have more than doubled your money if you listened to Barry McCockinner which is significantly better than what an index fund would have done.

 

 

[Biggs]

8 hours ago, Barry McCockinner said:

My prediction was obviously wrong but Bitcoin just broke $10k the day I started this thread.

So even after the huge drop you'd have more than doubled your money if you listened to Barry McCockinner which is significantly better than what an index fund would have done.

 

 

Now that even Barry has capitulated, I'm ready to consider buying.

[Barry McCockinner]

3 hours ago, Biggs said:

Now that even Barry has capitulated, I'm ready to consider buying.

Capitulated? There probably weren't many better performing assets from the time this thread was created until today. No one has ever lost value when holding bitcoin for 4 years or more.

Everyone holding dollars is consistently losing value. 

[Biggs]

6 minutes ago, Barry McCockinner said:

Capitulated? There probably weren't many better performing assets from the time this thread was created until today. No one has ever lost value when holding bitcoin for 4 years or more.

Everyone holding dollars is consistently losing value. 

Investors usually are consistently adding to holdings on a regular basis.  Particularly investors who are concerned about inflation eating their future savings.  A vast majority of Bitcoin investors who have continued to believe in it and add to their positions are now underwater.   It's now below it's price from 2.5 years ago.

The last price I bought Berkshire Hathaway B's was 200 dollars.  The fist price I bought them at was 25 dollars.

[Barry McCockinner]

35 minutes ago, Biggs said:

Investors usually are consistently adding to holdings on a regular basis.  Particularly investors who are concerned about inflation eating their future savings.  A vast majority of Bitcoin investors who have continued to believe in it and add to their positions are now underwater.   It's now below it's price from 2.5 years ago.

The last price I bought Berkshire Hathaway B's was 200 dollars.  The fist price I bought them at was 25 dollars.

I don't believe the vast majority of Bitcoin investors are underwater. Do you have any evidence to support that? The only people who are underwater are those who started buying recently. Again, no one who has held Bitcoin for 4+ years has ever lost.

The last price I bought Bitcoin at was whatever it was Saturday when my weekly buy hits. The first price I bought it at was between 400 and 500. I don't remember exactly but I remember thinking the price was really high at the time ?.

[Barry McCockinner]

CBDC's are pure evil.

[Biggs]

2 hours ago, Barry McCockinner said:

I don't believe the vast majority of Bitcoin investors are underwater. Do you have any evidence to support that? The only people who are underwater are those who started buying recently. Again, no one who has held Bitcoin for 4+ years has ever lost.

The last price I bought Bitcoin at was whatever it was Saturday when my weekly buy hits. The first price I bought it at was between 400 and 500. I don't remember exactly but I remember thinking the price was really high at the time ?.

Quote

According to research from blockchain analytics firm Glassnode, only 60% of Bitcoin investments remained profitable when the cryptocurrency was priced at $33,600 per unit. The remaining 40% of investments sank below water. As Bitcoin’s price has tanked even lower, now floating between $31,000 and $32,000, an even larger share of investments are in the red.

https://fortune.com/2022/05/10/bitcoin-price-crash-investment-unprofitable-crypto/

The current price is hovering around 20,500.  There is no doubt a majority of owners are underwater.  The largest up volume of Bitcoin was purchase between Late 2000 and the end of 2021 at substantially higher prices.

[RutgersJetFan]

On 6/16/2022 at 7:42 PM, Barry McCockinner said:

So even after the huge drop you'd have more than doubled your money…

 

So, you were saying…

[Barry McCockinner]

Just now, RutgersJetFan said:

So, you were saying…

Still crushing whatever else you may have put your money in isn't it?

[Barry McCockinner]

[Barry McCockinner]

1 hour ago, RutgersJetFan said:

So, you were saying…

If Celsius Network gets liquidated it could go way lower. I am considering selling part of my position with the intention of buying back at lower prices because there's a real chance this happens at this point.

That's something I've never done because I'm not a trader and tax implications but I am seeing a potential opportunity to increase my stack at the price of taxes and fees. Obviously would have been better to do sooner.

[RutgersJetFan]

6 hours ago, Barry McCockinner said:

Still crushing whatever else you may have put your money in isn't it?

educate us more about the statists 

[Maxman]

On 6/16/2022 at 7:02 PM, RutgersJetFan said:

I, for one, am shocked that a random football forum guy named Barry McCockinner on the internet has not been handing out successful investment advice. 

For me personally I read this thread religiously. I don't have a huge risk tolerance but Barry Mc woke me up to the crypto world because of this thread. I had a very profitable year in crypto, really glad this thread exists.

On 6/16/2022 at 10:42 PM, Barry McCockinner said:

My prediction was obviously wrong but Bitcoin just broke $10k the day I started this thread.

So even after the huge drop you'd have more than doubled your money if you listened to Barry McCockinner which is significantly better than what an index fund would have done.

 

 

That is pretty wild. I wondered were it was at when the thread started. 10k to 20k is a nice jump.

I read today, and I don't know enough to know what to believe, that there is a sell off trigger at 14k. So if it gets that low it will get under 10 but the author predicted a rebound from there.

Again it is all speculation and so much of this seems like market manipulation. But there are people making a lot of money on this. These 5 - 10% swings are making people rich even when the price is down. Wish I knew how to be one of those people.

[RutgersJetFan]

21 minutes ago, Maxman said:

For me personally I read this thread religiously. I don't have a huge risk tolerance but Barry Mc woke me up to the crypto world because of this thread. I had a very profitable year in crypto, really glad this thread exists.

I assume this means that the JN tailgate this year will be catered with dry-aged ribeyes and bottles of Chateau Lefit.

[Maxman]

21 hours ago, RutgersJetFan said:

I assume this means that the JN tailgate this year will be catered with dry-aged ribeyes and bottles of Chateau Lefit.

Yes, please feel free to assume that. We can talk about why you are only eating hamburgers and chicken that day.

Damn you are the golden glove boxer. Nevermind. See me when you get there I will have your special request ready.

And no yellow M&M's right? 

[Hal N of Provo]

For those looking for a summary of Bitcoin over the life of this thread it’s something like this at this point.  Still at double where @Barry McCockinner started but recent trends are not good.

[Barry McCockinner]

11 hours ago, Hal N of Provo said:

For those looking for a summary of Bitcoin over the life of this thread it’s something like this at this point.  Still at double where @Barry McCockinner started but recent trends are not good.

Correct. Would you happen to know of something that would have performed better over this time? 

I'm used to haters hating bitcoin but these guys acting like I've given terrible advice act like they could have done better elsewhere. I doubt there are many things that performed better over this timeframe. They remind be of a WR celebrating a first down like they won the superbowl while down 14 with 40 seconds left on the clock.

Eventually the feds will have no choice but to open the spigot back up. The Keynesian scam doesn't work without it.

[RutgersJetFan]

10 hours ago, Barry McCockinner said:

Correct. Would you happen to know of something that would have performed better over this time? 

I'm used to haters hating bitcoin but these guys acting like I've given terrible advice act like they could have done better elsewhere. I doubt there are many things that performed better over this timeframe. They remind be of a WR celebrating a first down like they won the superbowl while down 14 with 40 seconds left on the clock.

Eventually the feds will have no choice but to open the spigot back up. The Keynesian scam doesn't work without it.

Your screenname is Barry McCockinner and your full-time hobby is promoting cryptocurrency in the non-football talk lounge of a New York Jets fan forum. If you weren't expecting to catch sh*t for that I don't know what to tell you. Lighten the **** up Francis. 

[Barry McCockinner]

58 minutes ago, RutgersJetFan said:

Your screenname is Barry McCockinner and your full-time hobby is promoting cryptocurrency in the non-football talk lounge of a New York Jets fan forum. If you weren't expecting to catch sh*t for that I don't know what to tell you. Lighten the **** up Francis. 

excuse me, bitcoin, not crypto.

I expect to get crap whenever I talk bitcoin because there are so many haters out there. The part that blows my mind is where you guys act like I led people into financial ruin. Here is my best advice to you.

 

[More Cowbell]

On 6/19/2022 at 12:46 AM, Maxman said:

For me personally I read this thread religiously. I don't have a huge risk tolerance but Barry Mc woke me up to the crypto world because of this thread. I had a very profitable year in crypto, really glad this thread exists.

That is pretty wild. I wondered were it was at when the thread started. 10k to 20k is a nice jump.

I read today, and I don't know enough to know what to believe, that there is a sell off trigger at 14k. So if it gets that low it will get under 10 but the author predicted a rebound from there.

Again it is all speculation and so much of this seems like market manipulation. But there are people making a lot of money on this. These 5 - 10% swings are making people rich even when the price is down. Wish I knew how to be one of those people.

Max, you are talking about timing bitcoin. Market timing is nothing new and it rarely makes anyone money except for the guy getting commission  from the trades. 

As I understand Barry, he is not buying crypto as an investment, more so as an alternative  currency. It's  kind of radical thinking that something this volatile would ever become a widely accepted currency but that is his thinking as I understand. 

What you are talking about is crypto as an investment, to make a profit. 

Honestly, Barry is correct when he says is there an investment that has done better. There probably isn't  except for maybe  a Dow ETF but the other side of the coin is crypto is proving to be very vulnerable to market conditions and fed moves, and it really doesn't  seem like a safe haven from this as I think Barry was promoting. 

[southparkcpa]

1 hour ago, More Cowbell said:

Max, you are talking about timing bitcoin. Market timing is nothing new and it rarely makes anyone money except for the guy getting commission  from the trades. 

As I understand Barry, he is not buying crypto as an investment, more so as an alternative  currency. It's  kind of radical thinking that something this volatile would ever become a widely accepted currency but that is his thinking as I understand. 

What you are talking about is crypto as an investment, to make a profit. 

Honestly, Barry is correct when he says is there an investment that has done better. There probably isn't  except for maybe  a Dow ETF but the other side of the coin is crypto is proving to be very vulnerable to market conditions and fed moves, and it really doesn't  seem like a safe haven from this as I think Barry was promoting. 

Last 5 years Crypto has not performed as well as Tesla but yes, 5 year period??  It has done well. Any buyers the last year or so?  They have lost at least 40 to 60 percent of their investment.  

Crypto has no customers, no revenue, no captive markets.   Anyone who puts more than 5 percent of their total net worth in Crypto has no one to complain to. Crypto has a better chance to go to 5K than 50K at this point. IMO. 

[More Cowbell]

23 minutes ago, southparkcpa said:

Last 5 years Crypto has not performed as well as Tesla but yes, 5 year period??  It has done well. Any buyers the last year or so?  They have lost at least 40 to 60 percent of their investment.  

Crypto has no customers, no revenue, no captive markets.   Anyone who puts more than 5 percent of their total net worth in Crypto has no one to complain to. Crypto has a better chance to go to 5K than 50K at this point. IMO. 

I have zero invested in crypto. I just don't  understand the metrics about it. As you said, no revenue or earnings, it doesn't  make anything, but there is a market, small but it's  there. Right now it an alternative  currency in countries that have screwed over there own so badly, they are like , ues, why not allow crypto to be nationally accepted. But I do more or less agree with your assessment.  I think people who got burned on this are not coming back

[Maxman]

4 hours ago, More Cowbell said:

Max, you are talking about timing bitcoin. Market timing is nothing new and it rarely makes anyone money except for the guy getting commission  from the trades. 

As I understand Barry, he is not buying crypto as an investment, more so as an alternative  currency. It's  kind of radical thinking that something this volatile would ever become a widely accepted currency but that is his thinking as I understand. 

What you are talking about is crypto as an investment, to make a profit. 

Honestly, Barry is correct when he says is there an investment that has done better. There probably isn't  except for maybe  a Dow ETF but the other side of the coin is crypto is proving to be very vulnerable to market conditions and fed moves, and it really doesn't  seem like a safe haven from this as I think Barry was promoting. 

Oh let me further clarify. 100% I am talking about timing. I made my money on DOGE lol. Got in and got out. Still have a little of it.

But this thread woke me up to the whole world of crypto. I spent zero seconds thinking about it before. I was trying to thank Barry for educating me a bit into something I didn't pay attention to before he made this thread.

Now with DOGE I bought very early and to me that was about timing, to the moon to the moon, nope. To .65 cents though, hell yeah lol.

[Maxman]

2 hours ago, southparkcpa said:

Last 5 years Crypto has not performed as well as Tesla but yes, 5 year period??  It has done well. Any buyers the last year or so?  They have lost at least 40 to 60 percent of their investment.  

Crypto has no customers, no revenue, no captive markets.   Anyone who puts more than 5 percent of their total net worth in Crypto has no one to complain to. Crypto has a better chance to go to 5K than 50K at this point. IMO. 

I like that actually, 5% is a good mark. I invested in it much more conservative than that. But I don't have it in me to make a big gamble with my life savings.

[More Cowbell]

10 hours ago, Maxman said:

Oh let me further clarify. 100% I am talking about timing. I made my money on DOGE lol. Got in and got out. Still have a little of it.

But this thread woke me up to the whole world of crypto. I spent zero seconds thinking about it before. I was trying to thank Barry for educating me a bit into something I didn't pay attention to before he made this thread.

Now with DOGE I bought very early and to me that was about timing, to the moon to the moon, nope. To .65 cents though, hell yeah lol.

What you did with DOGE was fine imo. You bought, made a profit and took it. What I think is a bit nuts is if you are say watching bitcoin and buying on dips and selling when it goes up. The reason I think it's  nuts is bitcoin has no support level. I thought for a while it was 29000 but it pretty much crashed through that. I think 10k or lower is a real possibility with inflation the way it is. Bitcoin ot crypto in general has proven it is not an inflation hedge. 

[Barry McCockinner]

10 hours ago, Maxman said:

Oh let me further clarify. 100% I am talking about timing. I made my money on DOGE lol. Got in and got out. Still have a little of it.

But this thread woke me up to the whole world of crypto. I spent zero seconds thinking about it before. I was trying to thank Barry for educating me a bit into something I didn't pay attention to before he made this thread.

Now with DOGE I bought very early and to me that was about timing, to the moon to the moon, nope. To .65 cents though, hell yeah lol.

It's funny you're thanking me for this when I'm pretty sure I warned you against doge. lol. I'm glad you did well on it though.

crypto and all the sht coins are a scam.

bitcoin was the innovation and a gift to humanity. we now have trustless, uncensored digital gold that allows us to separate money from state. you may not recognize why we need this today, but it won't be long now. there's no need for any of the other crap. 

[Biggs]

1 hour ago, Barry McCockinner said:

It's funny you're thanking me for this when I'm pretty sure I warned you against doge. lol. I'm glad you did well on it though.

crypto and all the sht coins are a scam.

bitcoin was the innovation and a gift to humanity. we now have trustless, uncensored digital gold that allows us to separate money from state. you may not recognize why we need this today, but it won't be long now. there's no need for any of the other crap. 

It's not backed by real gold.  The "Digital Gold" line is a big lie.   That's like saying Video driving games are "Digital Race car driving"  It's not really the same thing.  

[Biggs]

On 6/16/2022 at 9:10 AM, TuscanyTile2 said:

Because it's not paying over the rate of inflation?  And because I expect inflation to continue to rise?

And when countries like Japan and China have financial issues, they can choose to not roll over their trillion dollars (each) worth of US bonds.  If the US loses $2T of money loaned from those governments, that's another shortfall that the Fed is going to have to print (which will drive prices even further up).  

Freight rates and commodities are crashing.  Just like Matt Damon predicted the high in Bitcoin by hawking it Biden is predicting the high in oil prices by giving us a tax holiday and yelling about price gouging.  

Low inflation, ironically is likely to prop up risk assetts including Bitcoin.  

[Barry McCockinner]

20 minutes ago, Biggs said:

It's not backed by real gold.  The "Digital Gold" line is a big lie.   That's like saying Video driving games are "Digital Race car driving"  It's not really the same thing.  

Who ever said it was backed by real gold? No one.

Of course it's not the same thing, it's better than gold. It has all of the properties of gold that make it good money but not the problems. Most notably, bitcoin is easily divisible & transferable. There's no need to have a centralized authority print paper on top of it which is where the problems with gold-backed fiat came in and how governments scammed people into non-gold backed fiat.

[Biggs]

Just now, Barry McCockinner said:

Who ever said it was backed by real gold? No one.

Of course it's not the same thing, it's better than gold. It has all of the properties of gold that make it good money but not the problems. Most notably, bitcoin is easily divisible & transferable. There's no need to have a centralized authority print paper on top of it which is where the problems with gold-backed fiat came in and how governments scammed people into non-gold backed fiat.

It's backed by nothing of value.  It has none of the properties of gold.  If they produced one bitcoin it would still have none of the properties of a Van Gogh painting.   Saying it's digital gold is simply BS.  

[Barry McCockinner]

1 minute ago, Biggs said:

It's backed by nothing of value.  It has none of the properties of gold.  If they produced one bitcoin it would still have none of the properties of a Van Gogh painting.   Saying it's digital gold is simply BS.  

Gold is backed by nothing of value. The value of gold is that it is the best commodity in the physical world for being good money because it has the following properties.

• scarcity
• divisibility
• portability
• durability
• uniformity (resistance to counterfeiting)

Bitcoin has all of these properties but is also easier to transfer and secure. So we don't need banks to handle that, thank Satoshi. It is actually also better at scarcity but that's beside the point.

 

[Biggs]

6 minutes ago, Barry McCockinner said:

Gold is backed by nothing of value. The value of gold is that it is the best commodity in the physical world for being good money because it has the following properties.

• scarcity
• divisibility
• portability
• durability
• uniformity (resistance to counterfeiting)

Bitcoin has all of these properties but is also easier to transfer and secure. So we don't need banks to handle that, thank Satoshi. It is actually also better at scarcity but that's beside the point.

 

It has none of Golds properties or history.  It's a thinly traded vehicle that is more like pet rock than gold.