all 13 comments

[–]Tortoise 2 insightful - 1 fun2 insightful - 0 fun3 insightful - 1 fun -  (1 child)

As much as I do own bitcoin so this would benefit me, the part of me that likes the idea of bitcoin being an alternative to FIAT currencies controlled by the elite wishes it would stay at a mostly stable but deflationary price instead of just growing and falling like this.

I liked how it hovered around 9k for around a year basically, it seemed good for its future viability, oh well, it will probably stabilize again though at some point.

[–]x0x7[S] 3 insightful - 1 fun3 insightful - 0 fun4 insightful - 1 fun -  (0 children)

That period of stability is one of the reasons why the price will go up the second it appears to offer any utility over the dollar. Now that we have that utility demonstrated from the US's recent insane UBI schemes with basically zero tax funding, and a recent track record of stability. That demonstrates that bitcoin has utility. More so than compared to itself when that 9000 was first established when it had just before it a period of instability and the US and other nations were being relatively responsible.

Comparative increase in utility equals price increase, as more people are willing to have a greater share of their savings in the form of bitcoin. The only way everyone on the planet could have 20% savings in bitcoin is if the price was high enough for that to be possible, and the price is the part that is flexible, so the price will adjust to whatever average allocation of savings people are willing to sink into it.

[–][deleted] 2 insightful - 1 fun2 insightful - 0 fun3 insightful - 1 fun -  (7 children)

I'd like it more to be like 15000 bc. in this case i'd start to sell again.

[–]x0x7[S] 2 insightful - 1 fun2 insightful - 0 fun3 insightful - 1 fun -  (6 children)

I agree. But this is /s/PredictTheFuture, and I didn't want my first one to be wrong so I went with something that was 100%. Already half way there since I posted this... 19 hours ago.

[–]Aureus 2 insightful - 1 fun2 insightful - 0 fun3 insightful - 1 fun -  (3 children)

If this happens, let me know and I'll pin your post as an announcement.

[–]x0x7[S] 3 insightful - 1 fun3 insightful - 0 fun4 insightful - 1 fun -  (0 children)

Sweet. Only 725 off today.

[–]x0x7[S] 3 insightful - 1 fun3 insightful - 0 fun4 insightful - 1 fun -  (1 child)

Hey Aureus. It just happened. BTC hit $12,000.

[–]Aureus 2 insightful - 1 fun2 insightful - 0 fun3 insightful - 1 fun -  (0 children)

Awesome! Pinned!

[–][deleted] 2 insightful - 1 fun2 insightful - 0 fun3 insightful - 1 fun -  (1 child)

Oh come on man. You did buy them in the thousands on your backend. :) In the last 19 hours.

[–]x0x7[S] 2 insightful - 1 fun2 insightful - 0 fun3 insightful - 1 fun -  (0 children)

Lol, like my saidit posts can manipulate the market. I only increased my current holdings by a couple hundred since I was already pretty heavy in it.

[–][deleted] 2 insightful - 1 fun2 insightful - 0 fun3 insightful - 1 fun -  (2 children)

Agreed even though there are only 26 days left. ;-)

[–]x0x7[S] 2 insightful - 1 fun2 insightful - 0 fun3 insightful - 1 fun -  (1 child)

Done. Happened a few minutes ago.

[–][deleted] 2 insightful - 1 fun2 insightful - 0 fun3 insightful - 1 fun -  (0 children)

Holy crap, you are right. ETH also above 400! :-)