{ "media_type": "image", "post_content": "Who's converting their 401K to bitcoin? Prediction bitcoin will be 115K+ by Q3 2021", "post_id": "5ff0ad7d9642fa0020d0c307", "reply_count": 16, "vote_count": 9, "bowl_id": "552d1d24dc1c586b09d2d051", "bowl_name": "Consulting" }
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Recession indicator lol... never trust anything where the general populace is willing to put their 401k in it #DotComBubble

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Lol wondering how far ppl willing to ride this wave...

Projected price wasn't reached in 2020 anyway. Too vague of an investment for me

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There’s a lot of talk about the world switching from Fiat to BTC; I can’t imagine the central banks and the power/influence they wield to allow this to happen Also, if your currency is based on a finite source, we’re back to the gold standard, minus the physical aspect of it. There are many reasons Rome burned Carthage to the ground, but above all was gold. Finite resources have constantly been known to create wars.

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No need for apology. I can definitely say that banks will look to Bitcoin as another asset vehicle. But my skepticism is in the fact that because banks can’t create new Bitcoin on demand, they simply won’t fully replace fiat. Why would you give up the goose that lays the golden eggs? Also, inflation can be addressed by many means - look at the Turkish Lira in 2000. Feels like there’s more fear mongering than usual. I can’t imagine the likes of China giving up the ability to print Yuan for something out of their control. Could you imagine how the world would’ve dealt with the pandemic if they couldn’t print fiat? We’d be at war with neighbors to capture their bullion whilst the pandemic was in play.

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Always remember - for every big winner, there is a big loser or thousands of smaller losers

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BTC is just a long-game pump-and-dump scheme run by rampant speculation and hype-Manning. 80% of the coins are owned by 20% of people, if not less. In other words, there are secret bitcoin billionaires out there that seek to profit greatly from inflated prices we are seeing now. When it gets high enough, it’ll collapse, but not before those coin holders sell. Then it’ll start all over again.

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Lol. So may neckbeards dream of taking over when Bitcoin replaces normal money. They can be rich but they will still never get laid.

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Lol if only it was that linear....

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Right lol...

This is based on the Twitter use PlanB stock to flow model. Do some research on it. Been eerily correct so far. I’m not sure it’s possible to convert a 401k to btc without cashing out. I wouldn’t. Take spare money and dump it in.

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Source?

Bitcoin is gold 2.0 which is a real thing. Bitcoin is not tulips, bitcoin is not nothing. That being said, it has gone through multiple bubbles before and will likely go through more. During the dot com bubble, Amazon went from $5 --> $100 --> $5. If you bought at $100 and waited 15 years, you made a killing. For those moving into bitcoin, is that your mindset or are you just trying to get rich quick?

I put $400kish of my 401k in last feb and this summer - working out ok.

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