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[Balint098]

The CEO of Social Capital and Virgin Galactic Chairman, Chamath Palihapitiya said that since Bitcoin has no correlation with conventional financial market, a financial disaster would be needed for bitcoin price to reach the moon. In an interview with Unchained Podcast on June 23, the billionaire further explains that bitcoin is a kind of disaster insurance against government's bad financial decision, which will lead to catastrophic financial disaster that affect a huge number of people. The billionaire bought one million bitcoin for only $80 in 2010,and the that amount net him billions in pure profit.

 

[Brain]

Keeping btc now might be too late for me because i don't know if there might another increase like that one , I think its better to invest in another much smaller coin

Well, it depends on individual needs, I still that Bitcoin might still sky rocket again in future just like what we had in 2017 so storing away some Bitcoin wouldn't be a bad idea.

 

[BrolySSJ]

What is the crypto can u explaine more information because i don't understand this word can u explaine please and thank u first

By the crypto i am referring to bitcoin. If you need more information on bitcoin, please see in the bitcoin forum there is a section dedicated to stuff that you need to know about bitcoin in the start. It was created by BMF and it is a great post! Hope this is able to help you. All the best.

 

[Balint098]

What is the crypto can u explaine more information because i don't understand this word can u explaine please and thank u first

Crypto is the shortening of cryptocurrency, which is a digital monetary system that secured by strong cryptography technique. Bitcoin, the first and most valuable crypto is just one among many others.

 

[SCAMEXPOSER]

Well, it depends on individual needs, I still that Bitcoin might still sky rocket again in future just like what we had in 2017 so storing away some Bitcoin wouldn't be a bad idea.

It is good to hold some for longer time because that held theirs as at 2009 never knew it could grow this high, crytpo currencies has brighter future as more companies and personalities allign with it on daily basis.

 

[Brain]

It is good to hold some for longer time because that held theirs as at 2009 never knew it could grow this high, crytpo currencies has brighter future as more companies and personalities allign with it on daily basis.

That's the truth and I want to believe it will happen again in the near future even my coins here I get it in Bitcoin to stay away for now.

 

[Balint098]

There is only enough Bitcoin for 0.27% of the current global population to own one full coin. Bitcoin, get em' while they're cold

No one ever said that you have to own one whole bitcoin, most people only have a fraction of it and they still make profit by trading. Doubt people will all hold their btc hostage anyway.

 

[SCAMEXPOSER]

The people with fractions of Bitcoin can't hold it for longer time because they tend to trade it more in order to keep increasing in it. The available number of Bitcoin is very small as compared to the world population if we all swtich to Crypto currencies.

 

[Balint098]

Well, there's Dogecoins with it's unlimited supply. Doubt that's what people want since doge price is so low and have little chance to rise.

 

[BrolySSJ]

Well, there's Dogecoins with it's unlimited supply. Doubt that's what people want since doge price is so low and have little chance to rise.

Yeah the price is low but also quite stable compared to bitcoin and the pother crypto so people might be willing to invest in something like dogecoin because it will be less of a risk than bitcoin and so forth.

 

[Balint098]

Yeah the price is low but also quite stable compared to bitcoin and the pother crypto so people might be willing to invest in something like dogecoin because it will be less of a risk than bitcoin and so forth.

Why though? The whole point of investment is to get profit in the future, but in the case of dogecoins the possibility of earning that is way to low.

 

[Wisdom01]

These things are pure risks, if you have less or nothing to do with the money now you can risk keeping it because it could rise if luck is by your side or otherwise, of drops you can. easily trade off.

Sure most times luck is been needed, but investing now might be at high risk because the price once reach its highest peak in 2017 and drop drastically

 

[BrolySSJ]

Why though? The whole point of investment is to get profit in the future, but in the case of dogecoins the possibility of earning that is way to low.

The earnings would be low, but if the world had to migrate to a crypto system then people would want something stable. Not everyone wants the risk that comes with crypto and the volatile prices so maybe they will just be on the safe side perhaps? Just a thought here.

 

[Reznov]

pretty classic, because let's take for example this pandemic, everyone is at home which means more internet usage and more things to explore, so people still have a chance to come across the crypto world

 

[BrolySSJ]

pretty classic, because let's take for example this pandemic, everyone is at home which means more internet usage and more things to explore, so people still have a chance to come across the crypto world

This is very true. With this pandemic i actually came across this forum and started posting on it actively as a way in which to earn crypto and to have some sort of income that i can use. I think that this is a very good time for people to get educated on crypto so you are 100% right there.

 

[Josemendez]

The CEO of Social Capital and Virgin Galactic Chairman, Chamath Palihapitiya said that since Bitcoin has no correlation with conventional financial market, a financial disaster would be needed for bitcoin price to reach the moon. In an interview with Unchained Podcast on June 23, the billionaire further explains that bitcoin is a kind of disaster insurance against government's bad financial decision, which will lead to catastrophic financial disaster that affect a huge number of people. The billionaire bought one million bitcoin for only $80 in 2010,and the that amount net him billions in pure profit.

Was there any financial disaster that caused the bitcoin pump in 2017 ? . I think disasters contribute to the rise of cryptocurrency but is not a must .
Bitcoin can rise without any disaster triggering it .

 

[Balint098]

Was there any financial disaster that caused the bitcoin pump in 2017 ?

There was no financial disaster occurring in 2017, only in 2008 because of prime mortgage in the US. Yes, financial crisis can positively affected bitcoin price but it was not necessary.

 

[electrify]

Well, when it reach 20k in 2017 no catastrophy happen....

 

[Josemendez]

Well, when it reach 20k in 2017 no catastrophy happen....

Yea . this is the fact that we are trying to make the predictor understand . we know that prediction do happen , but this case is quite wrong as his prediction has already being proved wrong by 2017 event

 

[SCAMEXPOSER]

If bitcoin will rise it is not necessary for global disaster to happen despite it may aid it , the continuous acceptance of bitcoin is a sure way for a rise in value, there is no week through out this year that one company or Influential individual will not key in to bitcoin.

 

[Wisdom01]

How sure are you it's gonna rise if global disaster happen since most times people might even sell their bitcoin off so they could take care of themselves and others too