Bitcoin is legal tender in El Salvador from today

Jimmy1986

Jimmy1986

Active Member
Silver Stacker
Today is the day.

https://www.msn.com/en-gb/money/oth...ryptocurrency-bitcoin-legal-tender/ar-AAOaHbD

Gold and Silver are cool and all, but its Bitcoin that has changed my life.

There are a few OG's from Silverstackers who were into it back in 2013 when we first pumped to 1k, hopefully you guys are still holding.

To anyone who is still unsure about Bitcoin or think that they're too late, i think it could still go 3-5x over the next year.

All the best guys, keep stacking but consider adding some Bitcoin also.
 
Holdfast said:
When should we buy and when should we sell?

Some are saying bitcoin will go to a million USD, I can't wait.

Yippee, hooray, I'm think of that Titanic song, I'm the king of the world! :D And we know how that ended! o_O
Have a life boat! :cool:

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Gold and Silver are definitely a great insurance policy, but since i started stacking in 2012 it has been just that, an insurance policy.

The gains on metals since then are nothing to write home about.

Bitcoin on the other hand.....
 
No offense mate, but its not even in the same different ballpark

upload_2021-9-7_18-17-31.png
https://www.5yearcharts.com/silver-10-years-charts-of-performance/

upload_2021-9-7_18-19-6.png
https://www.chartoasis.com/btc-usd-forex-chart-10-years-cop0/

''Going back 10 years, bitcoin’s percent growth is six figures. In July 2011, two years after it was created, one coin cost $13.91. Back then, $1,000 would have bought you 71.89 bitcoin, which would be worth $2,785,737.50 today. That figure represents growth of 278,476.56%''

https://www.cnbc.com/2021/07/26/how...invested-1000-dollars-in-bitcoin-in-2011.html
 
Holdfast said:
No offense taken mate.
Silver spot price has absolutely no bearing at all of the silver market.
You can't categorize all silver or gold in the same boat.

Example
If I purchased a 2013 Perth Mint Silver bullion Koala coin with Chinese privy for $50AUD and sold for $650 AUD the profit is ok. (If you want a screen shot, I could arrange that)
Want to buy a 2008 2oz Lunar Mouse or maybe a 5oz or KG
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They are great gains mate, but still Bitcoin is an order of magnitude greater.

I love cool rare coins etc also, i just think there are still great gains to be made in Bitcoin.

I think Bitcoin will be a much needed tool for freedom moving forward also.
 
Jimmy1986 said:
Today is the day.

https://www.msn.com/en-gb/money/oth...ryptocurrency-bitcoin-legal-tender/ar-AAOaHbD

Gold and Silver are cool and all, but its Bitcoin that has changed my life.

There are a few OG's from Silverstackers who were into it back in 2013 when we first pumped to 1k, hopefully you guys are still holding.

To anyone who is still unsure about Bitcoin or think that they're too late, i think it could still go 3-5x over the next year.

All the best guys, keep stacking but consider adding some Bitcoin also.
Click to expand...
Anything is Possible in The Crypto World.
 
Holdfast said:
Cheers, best of luck with your coins.

If you don't mind me asking, what is your cost average for bit coin and what is your lowest sell price and your target sell?
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I first bought Bitcoin at $60 for a full coin in 2013, I last bought a couple of hours ago at around 70K (obvious not a whole coin) I've bought everywhere in between.

I've sold some along the way to pay down debts etc but I look at Bitcoin as my savings account now.

If we pump above 200k in the coming months i will probably take some profits but i truly don't see anywhere else to park my hard earned.

I continue to buy a little bit each and every week and have done for years, this strategy was worked for me so far.
 
What unit are they planning on pricing things in?

It would get confusing saying 0.0003899 BTC for a haircut.
 
willrocks said:
What unit are they planning on pricing things in?

It would get confusing saying 0.0003899 BTC for a haircut.
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Sats/USD i beleive mate, i think with the lightning network it will actually be pretty smooth, there will definitely be teething problems for sure but I think it will succeed.
 
What are your thoughts on solana Jimmy…? Seems to be pumping atm…
 
I didn't Involve in Cryptos when I was in The Forum.
Now I am A Crypto Day Trader.

And I do not want to get involve in Btc due to The High Gas Rates.

Others Major Coins I would prefer that consume less Gas/ Fuel Rates.
 
I'm going to say it. Gold not legal tender anywhere.

The way I think of it is this.
There is a science as to what makes a good money. Many of us know this, it's to do with properties such as portability, divisibility, etc...

Good engineering is built on good science.

The monetary system is an engineered system built to serve us.

If you look at what has been used for money, including gold and paper cash, and compare them against the science of money you can see that they have all been imperfect in one way or another.

Bitcoin is the first true money the world has ever seen and we are witnessing the beginnings of the rest of the world come to that conclusion. And once fully realised, we will look back and wonder how we ever did without it.
 
hawkeye1 said:
I'm going to say it. Gold not legal tender anywhere.
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Agree.

There are a variety of schools of economic thought as to what makes good money.

However, at least one branch argues that deflationary currencies like Bitcoin do not make sound money because of their contractionary nature. The amount of BTC available to consumers cannot be inflated or deflated as required in response to market forces. BTC may be touted as "true money" by some, but even when its price stabilises in whatever future decade that occurs, it will fail as money because it cannot be regulated by the market process.

Friedrich Hayek said:
The past instability of the market economy is the consequence of the exclusion of the most important regulator of the market mechanism, money, from itself being regulated by the market process.
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https://www.linkedin.com/pulse/friedrich-von-hayek-denationalization-money-rudy-kadoch
 
On the charts it looks like Bitcoin's second bubble is about to pop. Multiple coins dropped significantly today.

I don't know about this spectacular rise that everyone is talking about... it looks more like a second "hump" and in the last few hours it started to point downwards. 47,000 USD per BTC right now.
 
hardyakkagold said:
It's a pity common sense and the truth are no longer legal tender on this prison planet, then scams like this bitcoin couldn't flourish.
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Wellam and Gelman said:
Common sense theories are people's ordinary understandings of certain bounded bodies of information, such as the set of ideas that nonscientists hold about celestial phenomena (folk astronomy)
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"certain bounded bodies of information" = people making what they consider sound or rational decisions based upon limited understanding.

Relying on "common sense" alone can lead to misconceptions and a resistance to the notion of the evolutionary nature of value, property, money and currency.
 
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