Bitcoin hits $100,000 for first time

More proof the $ and ALL the currencies tied to the dollar are losing their purchasing power due to money printing, growing deficits AND a growing multi polar world NOT interested in toilet paper currencies!

HopeSpringsEternalToday  01:51 pm JST

More proof the $ and ALL the currencies tied to the dollar are losing their purchasing power due to money printing, growing deficits AND a growing multi polar world NOT interested in toilet paper currencies!

It is not the USD or the currencies tied to the USD (actually the USD index is up 4% over the past 10 years).The Bitcoin is up sharply against all currencies

Consider less than 5 years ago, CRB index (broadly diversified basket of commodities) was about 3x less in $ terms for exact same index today. Consider, $/Yen has weakened from about 90 to 150 in this same period.

CRB is $3x more, but for yen buyer, about 5x more! Japan's become poor rapidly, GDP approx. $30K/capita, which includes massive debt servicing = no economic value & deficit spending = not real/more money printing!

Bitcoin, just another real asset, like commodities to avoid exposure to currencies, which happens a LOT when the world is busy at war, crazy deficits and money printing.

US$ may be up marginally against currencies, but they are ALL down in terms of purchasing power/see above, hence the global inflation and impoverished Japan.

More proof the $ and ALL the currencies tied to the dollar are losing their purchasing power due to money printing, growing deficits AND a growing multi polar world NOT interested in toilet paper currencies!

The whales decide if the price goes up or down.

HopeSpringsEternalToday 01:51 pm JST

More proof the $ and ALL the currencies tied to the dollar are losing their purchasing power due to money printing, growing deficits AND a growing multi polar world NOT interested in toilet paper currencies!

The currencies tied the $ like the renminbi are indeed of low value.

Bottom line, currencies across the board have ALL been crushed in terms of real buying power as they all trade on a relative basis. Yen's been weak on a relative basis. Any financial assets that purely reflect currencies, e.g. bonds, ditto, massive loss of purchasing power.

If you're in Japan, your Yen buys approx. 5x LESS real assets than less Jan 2020. US, $ 3x LESS, but US also a real asset powerhouse, so overall far less financial damage to the economy relative to Japan, Europe, etc.

Bitcoin as an alternative real asset has proven a good safe haven from wars, money printing and debt accumulation that all act to destroy currencies, no major currency worse than Japan = WORST economic damage.

Keep in mind for Bitcoin, $102K today only equals $34K in terms of Jan 2020 $real purchasing power = not so great as the exciting media narrative, thus some holders have lost money on a $real purchasing power basis.

the digital currency is mined when powerful computers validate transactions on the blockchain

if the daily etf inflow of 450 million dollars needs to buy the 450 coins that are mined each day, what will the bitcoin price be?

a) $10,000

b) $100,000

c) $1,000,000

Despite having once branded cryptocurrencies a "scam", Trump changed his stance and has been a major advocate of the unit during his election campaign.

Despite having once branded cryptocurrencies a "scam", Trump changed his stance after receiving massive "crypto" donations during his election campaign.

Fixed it.

Plenty of people sell/trade, so this idea supply to the market is limited by miners is not true. Total number of bitcoins is finite as well, not an open-ended unlimited supply to be mined in the future.

But do share your thoughts on mining MC, mafia man!

plenty of people sell/trade, so this idea supply to the market is limited by miners is not true

yes, there were plenty of people willing to sell at just $60,000 just a few weeks ago...

but even donald trump has learnt that you "never sell your bitcoin"

Trump knows banks and Wall Street fear crypto, NYC +90% democrat after all. Raising capital is going to get very easy for many soon using crypto, especially well-run companies and that means automation = no bankers!

Hence globalists in a panic, never should have couped Biden for dim whit Harris = "nothing comes to mind"...

Crypto as an asset class has overtaken the NIKKEI 225!

The more the bubble get bigger, the harder the bubble explodes..

TL, you must be referring to the sovereign debt and money printing bubble by Central Banks? Bitcoin has finite supply by design. Political crisis sweeping the west = spending cuts & tax increases due to record debt levels.

bitcoin has finite supply by design... 

if the daily etf inflow of 450 million dollars needs to buy the 450 coins that are mined each day, what will the bitcoin price be?

a) $10,000

b) $100,000

c) $1,000,000

https://farside.co.uk/btc