BITCOIN IS DEAD

Tips hat to OA for his well timed Bitcoin sell. Excellent as usual.

Now, for the rest of the Internet declaring Bitcoin is dead please review these other 120 obituaries written about Bitcoin going back to 2010.

You see, Bitcoin is a Sewer Rat. Bitcoin has been declared dead and crawled out of the grave many times to continue to rise in value and credibility.

No entity or government controls Bitcoin. No Fed, no PBOC, no EU. Just pure market dynamics. Bitcoin is not dead, it’s just getting started. And like many disruptor in early stages, Bitcoin is volatile as fuck. Caveat Emptor. If you can’t stand the heat, get out of Bitcoin. To the early adopters go the greatest rewards.

And for the newcomers, here are some FACTS:

  • Bitcoin is the best performing currency 6 of last 7 years.
  • Bitcoin is at ~16B USD market cap. Slightly larger than Twitter. 10x that is peanuts in financial world.
  • There will only ever be 21 million Bitcoins. That’s .003 per human on the planet.
  • BTC is easily divisible to .00000001
  • A $1 trillion market cap in Bitcoin is $62,500 PER BITCOIN
  • Capital flight from China has been closely linked to Bitcoin.

Bitcoin could retrace to ~$720, which takes us all the way back to … late November. If that’s the case I’ll be buying by the boatload. See you at $10k.

About coinspeak

20 years as an IT consultant. Escaped the rat race in 2015. Addicted to travel and tacos.

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5 comments

  1. When SkyNet takes over, your bitcoins will all be hacked away and vaporized into cyberspace.

    Gold is forever

  2. Just for shits and giggles does anyone know how long it to for the general public to adapt to paper Fiat? Next question is plastic? It’s just the beginning…

  3. Le Fly says this is a scam. I think FLY is not a fan of currency trading this. Because it’s all bullshit, which is true. Bitcoin wins 2017.

  4. The recent dump is a result of China’s comments about Chinese exchanges. Some news hit today saying China is considering building a wall around Bitcoin. It won’t work long term but it may cause more FUD and buying opportunities in 700’s.

    https://twitter.com/cnLedger/status/818500764498694144

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