patrick.net

G36 says

During a Bull Market there is always someone seeking 15min of fame. How often have we read article saying "expert who called the last housing bubble predicts crash in 2016, 2017, 2018, 2019, 2020, 2021, 20xx?

No one of substance has been predicting a housing crash. The fundamentals are substantially better in the loan/debt market even though prices are rising. Housing crashed because of shit lending practices and then bundling those loans as something worth investing in.

So you take the biggest investment in an individuals life, improperly give them a loan, and then sell the debt as valuable and safe. No one is predicting a housing bust. No one is looking for 15 minutes of fame. It's just analyzing what is in front of you. A spreadsheet that is as worthless as the stripper that borrowed the cash for a condo.

WookieMan says

No one of substance has been predicting a housing crash.

I know a few Realtors and a Broker who are predicting it without flinching for whatever that's worth.

WineHorror1 says

WookieMan says

No one of substance has been predicting a housing crash.

I know a few Realtors and a Broker who are predicting it without flinching for whatever that's worth.

They're local though. Nationally housing is in relatively good shape. As with covid, the reaction to a crisis can be learned from. Banks won't foreclose and trash their books, they'll work it out with homeowners. I was hands on with REO properties during the crash. Banks fucked up big time and know it.

Commercial RE is a different animal. I could see a crash there, but that is mainly a stock/REIT thing and wouldn't hurt main street that bad. Retail and office will get trashed, but I think much of that may have played out.

Could housing dip, sure. I was addressing a "crash" as I don't see anything pointing to that. It will go flat for a while if anything. Besides places in TX, FL, CO and MT, most the country is on solid ground. CA prices likely won't move much even with people fleeing. There are some boom towns in the states mentioned and others, but it's not anything that will drag down the entire economy like 2006-8.

The haters are so quiet today......probably because Bitcoin is above 50k :) :)
Sry guys, you missed another buying opportunity!

@Zak, i hope you bought some satoshis on this dip? Back to 51k....:) congratulations if you bought some!

@g36 My dirty sock price went up to $100 from the previous $75. You missed the dip! BTW, my dirty socks are outperforming bitcoin recently. 75 -> $100 is a 33% increase, bitcoin has only recovered from $45k -> $51k .. a mere 12% increase.. Hurry and buy some of my dirty socks before you miss the next run up!

BTW, you continue to ignore the misinformation in your laugh out loud funny infographic. I pointed it out very clearly, giving you the opportunity to respond... Still silence?

@G36 back to what?

Zak says

@g36 My dirty sock price went up to $100

Clean ones are cheaper.

Zak says

@G36 back to what?

It's just a matter of time.

Zak says

I pointed it out very clearly, giving you the opportunity to respond... Still silence?

You won't get a response. That's why I give him a hard time in other threads. Apparently he likes to do the same thing over and over with no joy in life.

@onvacation .. that's the point.. bitcoin burns more fossil fuel than entire countries, for a speculative mania with no underlying value. My dirty socks make a nice parallel.

@Zak
great buying opportunity. Bitcoin gives you chance after chance! Use it :)
And thank me later!

Zak says

that's the point.. bitcoin burns more fossil fuel than entire countries, for a speculative mania with no underlying value. My dirty socks make a nice parallel.

I know.

I have been trying a lot of analogies to try to help some people understand that bitcoin is not "gold 2.0".

And who says your smelly socks have no value?

Gold 2.0 / Bitcoin and energy consumption....for those that want to be educated :)

https://www.coindesk.com/the-last-word-on-bitcoins-energy-consumption

51 K is a great price for Bitcoin! With so much institutional demand and the scarcity of Bitcoin nobody should be surprised to see a 150K Bitcoin this year.

@Zak so quiet today?

G36 says

so much institutional demand

You do know that "institutional" demand is really just retail demand from wackadoodles that think crypto is the new gold mined by miners so they can HODL it in their wallets for when it becomes the new currency that will be worth millions in fiat per coin?

Don'tcha?

one of the institutions some of you know is Tesla!

https://www.cnbc.com/2021/02/08/tesla-buys-1point5-billion-in-bitcoin.html

Tesla buys $1.5 billion in bitcoin, plans to accept it as payment

G36 says

one of the institutions some you know is Tesla!

and some you don't

Microstrategies is another great tech company that understands the value in investing in digital gold

https://news.bitcoin.com/microstrategy-acquires-another-10-million-in-bitcoin-company-balance-sheet-nears-100k-btc/

another great company that HODL's Bitcoin is square. Some of you must have heard of Square.

https://squareup.com/us/en/press/2020-bitcoin-investment

@Zak

remember this quote? "I just saw bitcoin silence today and wondered wtf, where was all the cheering?"

is it because of this?

@g36 .. nope.. I can consistently say Bicoin is a scam no matter if the price is up OR down. I can also respond to your statements or questions with logic and reason as opposed to your silence and avoidance for any debateable point I bring up. Guess we can keep this bitcoin is garbage thread alive a bit longer. BTW, I may be silent for stretches of time as I am currently repairing drywall in a water damaged bathroom. I can do that because I just look at the logical next steps to complete that task, and use references and information where I have a gap in knowledge. And I'm not afraid of making a few mistakes..

But I'm also not buying 6000 lbs of drywall mud. Do you know why? Drywall mud has a very specific and limited use. I need a tiny amount of it for a very specific purpose. Even though the price of it has risen, and it costs me more today to buy it that it did 6 months ago, I still only buy 20lbs at a time. That ends up lasting me for several projects.. What's the purpose of bitcoin again?

Zak says

What's the purpose of bitcoin again?

to HODL. Tesla for instance bought 1.5B USD worth of Bitcoin to hodl.

I bought 1.9 Bitcoin for 28K total as a 1year investment. Now its worth over 100k :) In less than 6 month! not only can you buy a bathroom with this but for some people this profit might be a down payment for a house. And the great news is we are early in the Bitcoin bull cycle!! I am not selling anytime soon.

G36 says

I bought 1.9 Bitcoin for 28K total as a 1year investment. Now its worth over 100k

It's worthless until you sell it. Making $72k on paper in 6 months is rather trivial, but good for you. That's a quarterly thing in my world.

I remember when bears and bitcoin haters cheered back in 2018 when Bitcoin entered a bear market. These people really thought, Bitcoin will never go back to 20k.
Some crazy ones even called for Bitcoin at 1.2k. LOL

Here we are, Bitcoin sits at 50k :) Don't you love the times we live in?

G36 says

is it because of this?

G36 says

Here we are, Bitcoin sits at 50k :) Don't you love the times we live in?

See a pattern?

absolutely! The pattern goes up, up and up

G36 says

absolutely! The pattern goes up, up and up

Nope. Doesn't pay dividends. It's been worthless most of the time it's been around unless you got absolutely lucky and bought before 2 big peaks. All other times it was dead money and you could have made much more in other investments. By definition it's a bad investment.

There's also this thing called owning a business where the chart looks a lot better if you put some time in, instead of chasing get rich quick schemes. My chart outperforms this one and it keeps paying me while I don't invest any money into it that comes out of my pocket. Other people pay for it. You'll eventually learn. BTC is not an investment and you're going to get burned. Your choice though, but I'll continue to bash it because you're the guy that promotes smoking because it's the cool thing to do. It's not.

very bullish that Tesla and other institutions pour billions of USD into Bitcoin. Luckily I was early (bought in November)
My investment was around 28k for Bitcoin and another 25k or so in other precious cryptos.

My Bitcoin holding is already at a 100k ish. Thanks Tesla!

G36 says

very bullish that Tesla and other institutions pour billions of USD into Bitcoin. Luckily I was early (bought in November)
My investment was around 28k for Bitcoin and another 25k or so in other precious cryptos.

My Bitcoin holding is already at a 100k ish. Thanks Tesla!

Who are you even talking to? This is spam.

I should say, thanks Tesla and all the other institutions that buy Bitcoin like there is no tomorrow.

G36 says

I should say, thanks Tesla and all the other institutions that buy Bitcoin like there is no tomorrow.

Tesla is not a member on Patnet, and no decision maker from Tesla is on this site. Who are you talking to? This is pure spam.

@WookieMan,
pls stop spamming our Bitcoin threads. We are here to discuss the success of digital gold (Bitcoin)

G36 says

We are here to discuss the success of digital gold (Bitcoin)

I'll bite.

How can an owner of bitcoin sell without finding a bigger fool to buy?

If the "miners" who produce "coins" consume all of the input money for expenses how can bitcoin be a store of value?

Gold is beautiful and useful and is a store of wealth because it takes a lot of energy, labor, and capital to mine and refine. A bitcoin is bits on a stick, how is that anything like gold?

Not expecting any cogent answers. HODL on. Just don't try to convince smart people to become "dumb money".

Remember, If you don't know who the fool in a GAME is, it might be you.

Onvacation says

How can an owner of bitcoin sell without finding a bigger fool to buy?

He can buy a bunch of Tesla cars and then trade them in to Carvana or CarMax.

@onvacation
an owner of Bitcoin most likely will not sell. Bitcoin holders are smart and HODL.

Dumb money is of course part of any market. Dumb money panic sells. You can trade Bitcoin 24/7. Nobody has to find a buyer since there is so much institutional demand for digital gold (Bitcoin)

G36 says

Nobody has to find a buyer since there is so much institutional demand for digital gold (Bitcoin)

Dude, we're asking questions. Show us a link where you can verify institutions are actually invested in it and not just saying it? AKA pumping. Crypto is secure and government can't get at it, so you somehow know TSLA actually invested in it? Laughable.

There's nothing illegal about TSLA saying they "set aside" $1.5B to buy crypto and not buy any. They can accept it, but that means dick if they just sell it off. It's amazing that you don't understand what you are even doing while getting fooled by the people taking your money.

And this is why crypto will die.

yep, Bitcoin is now at the upper trend band! Very exciting times we live in! Go Bitcoin

https://finance.yahoo.com/news/bitcoin-around-51k-nears-upper-173718632.html

Upward price channel from 2017’s high shows possible resistance for BTC around $60,000, which could cap upside.

WookieMan says

Show us a link where you can verify institutions are actually invested in it and not just saying it?

interesting news

https://news.bitcoin.com/goldman-sachs-huge-institutional-demand-bitcoin-btc-price-100k/

Goldman Sachs Sees Huge Institutional Demand for Bitcoin — 76% of Clients Say BTC Price Could Reach $100K This Year

I think Goldman has a point but I think 100k is very conservative. I could see 150-200k Bitcoin by end of this year with this insane institutional demand.