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Comments (41)
Wow! Bitcoin against the Lebanese pound
for those who haven’t read the piece – https://www.2minutebitcoin.org/blog/gradually-then-suddenly-bitcoin
“All paper money eventually returns to its intrinsic value….. ZERO.”
— Voltaire
[Get. Off. Zero.](https://threadreaderapp.com/thread/1615389267437490177.html)
The one upside to a failing currency is making investment gains look bigger than they really are.
What is this a chart of?
I bet the Argentinian peso looks the same or Venezuela too
BTC has no stop right now, not even on 50k, because the investors has lost the the trust on the current financial market.
More banks fall, more BTC will go up, and more will fall in the coming weeks.
They are trying to save something that can not be save, that’s why big institutions are buying non-stop…
these is my opinion as AF.
I had to check trading view to make sure this didn’t actually happen.
Let’s pray it won’t happen this sharp. Otherwise all the people publicly admitted to own btc will be tourtured to death
Wow bro! How can all people not understand this. I feel so bad about this. I don’t care for the price anymore, but actually about the future of humanity
Slow and steady wins the race. Keep stacking! 🚀💎
Gold advocates, like Peter Schiff, overlook that gold’s historical value stems from its rarity, production difficulty, and desirability, not its intrinsic properties like conductivity. Cryptocurrency is more preferable due to its algorithmic supply control and secure online transferability; production effort is irrelevant compared to supply limitations ensuring value stability.
A good, decentralized cryptocurrency has strong fundamentals, far surpassing gold as a currency, and would greatly benefit society if it prevails long-term.
Balaji is gonna lose his bet because 90 days is an absurd timeline. Though “winning” the bet isn’t his real goal. I’ll take the publicity.
https://twitter.com/balajis/status/1636429773865095168
Bitcoin, when the walls fell
Backed by the energy put in.
Great read. Eat some sats
!lntip 667
What happen to bitcoin going down to 9k? 😂
Guys over at wallstreetbets are losing their mind over the market so they trash bitcoin. They are butthurt they didn’t invest in a real market
This simply proves beyond a shadow of a doubt how people can hedge themselves against the devaluation of their nations currency. If people cannot understand this then they probably don’t even need to be functioning in society as an investor, or for that matter even as a consumer. Those completely unaffected by this are basically the hunter gatherer types.
That chart has me going bananas.
This chart is not accurate
Google calculates its BTC to LBP exchange rate by going from BTC to USD to LBP
Google had a wildly incorrect LBP exchange rate for almost the whole chart, still the official rate from pre-crisis, and still has an incorrect LBP exchange rate because they use the “new” official rate which is about 15,000 – the actual rate is about 100,000
You need to make the chart yourself, it would not look this extreme
Yes, this is definitely a sign to buy more and it’s definitely not part of a cycle of ongoing booms and busts which will unfortunately cripple a lot of poor people that stake their hopes into a pipe dream.
But bitcoin is just for white techbros. Absolutely zero use cases for anyone else.
Whatever you think of bitcoin, I have no idea how any regular person in a country like that can protect themselves.
Gold is pretty much impossible except for super long term storage, curreny controls will be in action, propably hard/impossible to acces international stockmarkets, banks likely to be under extreme regulations etc etc
Don’t be fouled people.
Bilaji chart
*BITCOIN IS DEAD! FALLS 8% IN ONE DAY*
Perhaps foreshadowing of what is yet to come, n’est-ce pas?
Yes. And the same exact thing can happen in the opposite direction. Gradually — then suddenly…
Fake pump
How long is this jump expected to last ? Is our shitty economic system impending collapse going to make things better for crypto, or worse ?
The market is not working recently.
Would it be possible to take advantage of this situation? Trade in bitcoin for the lebanese pound then trade that into euros and then back into bitcoin?
I literally closed the blog opened my banking app and YOLO everything into bitcoin! Life changing stuff man
“We’re going to need more paper” – Jerome Powell ( ͡° ͜ʖ ͡°)
real estate
nothing else
I initially thought this was a fantasy post. But it is the actual exchange rate between Bitcoin and the Lebanese pound.
I think protection against this kind of Black Swans is worth the “absorption barrier” network cost that Nassim Taleb invoked in his black paper.
I respect him as a thinker, and learned a lot from him. But sadly he did not trust (or understand?) how Bitcoin works. Now he got stabbed in the back by his own government.
https://nassimtaleb.org/2021/06/bitcoin-currencies-bubbles/
The market is unstable, so I think it’s better to buy USDT so as to get more profits slowly.
Btc maxi here ERG is worth a look.
I look at the bitcoin price often. When it’s down or flat ,then I look less often. That’s the secret to happiness , no kidding.
If a price chart of BTC price is not shown in logarithmic form, I find it very, very misleading. For exponential growth, you need to show it in log form if you want to understand how rate is really changing over time.
Bitcoin is perfect money, perfect asset. Bitcoin puts the “P” in perfect when it comes to global finance.