Bitcoin 3500!

[ChanRasjid]

I have not been monitoring bitcoin. Surprise it is now 3500. I have posted elsewhere when it surged pass 6000 that it would fall back towards 3000 - people laughed.

I have always said crypto is a scam. There cannot be any real spot market as the trading platforms are all private - collusion with the governments as well as CME. It is surprsing Japan legalize and "supervise" such schemes. Furthermore, this blockchain stuff may be just marketing hype - it needs a supercomputer desktop with much more memory before it could be of used.

Chan Rasjid.

 

[Insider Player]

So you predicted correctly so what?
If you didn’t monetise it then it’s just like self masterbation....shiok yourself only.

 

[JustLikeThis]

Many startups and companies in China channeled their funds to speculate in bitcoins. They will be forced to unwind if value drops further.

 

[zhihau]

altogether now! huat ah!

 

[Kee Chew]

I have not been monitoring bitcoin. Surprise it is now 3500. I have posted elsewhere when it surged pass 6000 that it would fall back towards 3000 - people laughed.

I have always said crypto is a scam. There cannot be any real spot market as the trading platforms are all private - collusion with the governments as well as CME. It is surprsing Japan legalize and "supervise" such schemes. Furthermore, this blockchain stuff may be just marketing hype - it needs a supercomputer desktop with much more memory before it could be of used.

Chan Rasjid.

just curious how Mah Bow Tan ' firm Hydrax doing ?

https://e27.co/startup/hydrax-io

 

[cocobobo]

blockchain these days is rife with conmen sitting on the entire chain.

there are so many 'start-ups' out there promising blockchain objectives that run fundamentally opposite to its creation.

 

[ChanRasjid]

Bitcoin, and the blockchain technology, was introduced in 2009, a year after the financial crash. I think the person who invented it is a genius of sort; I was impressed by it when I read about it, knowing a little of the technicality behind it. It indeed was a token that "no one can touched" - that's why many people were enthralled by it thinking it was a panacea - and a challenge - for the ills of central banking money. And the supply is "limited" - so another big marketing hype! But they can double - and double again - exponentially without limit through forking! And the "open source" group of developers became the "central banksters"!

It was the mad Chinese who propelled the rise of bitcoin. The Chinese government was smart and shut down all crypto trading platforms when bitcoin reached the 3000 dollar mark. They also restricted access to all crypto trading websites thus making it difficult for another Chinese fool to lose their savings.

But bitcoin could actually be a very good challenge to our current e-payment systems - if only transaction clearance could be in seconds! It may happen with computers a thousand years from now!

Chan Rasjid.

 

[eatshitndie]

cannot lah. already mentioned so many times that it cannot scale and transaction per second is too slow due to inherent blockchain methodology limited by its hardcoded genesis block. there’s a finite end to it, and since there’s an upper limit it will become a scarce and endangered species like the dodo bird. in other words it’s flawed from the very start.

 

[Kee Chew]

Hydrax hits the Jackpot ???

just curious how Mah Bow Tan ' firm Hydrax doing ?

https://e27.co/startup/hydrax-io

 

[zhihau]

Hydrax hits the Jackpot ???

Altogether now!!! HUAT AH!!!

 

[ChanRasjid]

It was only just days ago when I read about bitcoin going into 30,000 - 50,000 USD! Nothing could be crazier!

When I first read about bitcoin, I too (someone with an IQ > that of Einstein) was taken in for a little while. In some sense, it is true its creation is strictly limited; so many are taken in wanting to believe that they would no longer be under the control of evil central bankers. It is unlike the US Fed which could create US dollar out of thin air. So many believe this is it! Bitcoin is the antidote against the evil of central banking. But they forget the Chinese saying : "螳螂捕蟬, 麻雀在后" - The mantis stalks the cicada, unaware of the sparrow behind.
There is always something - some powers to be - behind and behind.

This whole world now is a big scam. Imagine after covid-19 and the S&P500 breaking new highs. Elon's Tesla make not a single cent of profit and the company's capitalization goes into the billions. Can someone tell who's the fool who would pay millions buying into Tesla. No wonder it is often said "The fool and his money are soon parted."

I still think buying and holding gold bullion is the way for the very rich. It is all about timing - just before
World War III. Gold will come back after WW III when the USD would no longer be the world's key currency and the oil dollar.

Good luck to those who buy bitcoin at 40,000 USD!

"E=mc² Is Invalid"
Chan Rasjid Kah Chew,
Singapore.
http://www.emc2fails.com

 

[Kee Chew]

Many thanks for dropping by ...

http://www.emc2fails.com