$ (BTC) The Bitcoin Thread - NO SHITCOINERS ALLOWED

[Tranimal Farm]

So I'm a bit of a crypto noob so pls forgive me if this is a dumb question. I was reading that a few days ago BTC hit it's all time high of like 68k but was this on a specific market? Or was it an aggregate/total value across different market's and trading platforms? I'm asking cause when I look through the charts of a couple different crypto trading markets it says it was actually down that day?

 

[Orange Rhymer]

Bigbrain says bitcoin is fascist and libertarian at the same time, as well as the "sequel to January 6th"

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This is one of the most exceptional things I have ever seen on Twat.
...and it's 2021.

How is a FIAT currency 'anti fascist' ? Does big brain even understand what fiat MEANS?

 

[Echelon]

So I'm a bit of a crypto noob so pls forgive me if this is a dumb question. I was reading that a few days ago BTC hit it's all time high of like 68k but was this on a specific market? Or was it an aggregate/total value across different market's and trading platforms? I'm asking cause when I look through the charts of a couple different crypto trading markets it says it was actually down that day?

Technically it would be on one specific market that it hit that price but you won't see the price deviate much across markets. There will be one that got the highest at like 68,123 for example and then another only got to 68,069 or something. The reason it looks down that day is because it was, it reached an ATH of 68k and then dipped from there the rest of the day until it was down overall.

 

[Treasure Champs]

So I'm a bit of a crypto noob so pls forgive me if this is a dumb question. I was reading that a few days ago BTC hit it's all time high of like 68k but was this on a specific market? Or was it an aggregate/total value across different market's and trading platforms? I'm asking cause when I look through the charts of a couple different crypto trading markets it says it was actually down that day?

This is how what @Echelon is talking about appears on the charts. The red line there is the candle, the fact it's red indicates that bitcoin started the day higher than it ended the day. BUT, if you look at the 'wick' of the candle (the little red line), it shows how high BTC reached during the course of the day, which was its all-time high, before it ultimately closed the day lower. Cryptos don't really open and close as they are bought and sold 24/7, but the charts are recorded as if they run to UTC (London time, more or less).

I follow coinmarketcap, which never seems to clock the highs that are reported in the news articles, so who knows what they use exactly. Probably whatever the biggest exchange in the US happens to be.

 

[Homegrown Homophobia]

Some amazing anti-Quanon, Russian conspiracy believing takes on bitcoin and crypto I came across this morning and today, in light of Hillary Clinton saying they're a threat.













"Defending endless Dollar printing, Wall Street and the Federal Reseefe to save Democracy " is seriously peak fucking clown world.

 

[Orange Rhymer]

Some amazing anti-Quanon, Russian conspiracy believing takes on bitcoin and crypto I came across this morning and today, in light of Hillary Clinton saying they're a threat.

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"Defending endless Dollar printing, Wall Street and the Federal Reseefe to save Democracy " is seriously peak fucking clown world.

That was a level of autism exceeding most Twitter levels.
Why mad, tho? Why is there a concentration of crypto-haters within the radical left?

Does crypto break the cycle of Keynesian Communism 'unlimited money can totally work, guys' ?
I'm not an economist.
But, at first glance, if you print unlimited money, and get it all back fairly rapidly - your 'money printer' communism worked nicely.
However,
If those kittens end up in digital wallets - buying and selling digital/foreign currencies....
you just devalued your State currency to the world - and made yourself a laughing stock, Globally

Spoiler: Punchline

Authoritarians will criminalize all cryptos, SOON
or tax it into oblivion, essentially killing the market

God Bless the One Thing authoritarians HATE
A Free and Open Market

 

[Treasure Champs]

It's amazing how often each and every thread on this site touches back to the basic principle of the farms: the internet exposes levels of tardery hitherto undiscovered and unimagined.

Do these people NOT know that the dollar is just as ephemeral as crypto? Does beardy 'electromagnet' guy think it lives in vast Scrooge McDuck vaults of coins and paper? The damn stuff is essentially imaginary, derives value only through common agreement, and has not been backed by gold since, what, the seventies? Worse, the powers that be can run the money printer to make what YOU have earned worth less while THEY rake it in with the other hand.

For people who claim to be leftists they seem very chained to the decisions of the elite, whether that be in government or banking. This past year has hacked me off like nothing else, as various payment providers, banks, and cowardly executives have lorded over who I can and cannot give my own hard-earned money to (not HER, she's an evil TERF. Not Jersh, he lets people say nigger on the internet. Not that guy, he shot a child rapist took a beautiful black life).

As we say in my part of the world, Fuck all y'all. Someone figured out how to get round your traps and y'all mad.

 

[AnOminous]

Authoritarians will criminalize all cryptos, SOON
or tax it into oblivion, essentially killing the market

I'm not sure how reducing the supply of something in high demand kills it.

The damn stuff is essentially imaginary, derives value only through common agreement, and has not been backed by gold since, what, the seventies?

That's because it isn't backed by gold but by lead, delivered at high velocity.

 

[Kosher Dill]

From the NY Times: Bitcoin mines in upstate New York fall afoul of Received Opinion.

A Bitcoin Boom Fueled by Cheap Power, Empty Plants and Few Rules

Cryptocurrency miners are flocking to New York’s faded industrial towns, prompting concern over the environmental impact of huge computer farms.

www.nytimes.com

In brief: Received Opinion is now that New York should adopt statewide regulations to discourage mining, on environmental grounds.

Model legislation (currently pending) is here:

NY State Senate Bill S6486B

Establishes a moratorium on consolidated operations that use proof-of-work authentication methods to validate blockchain transactions; provides that such operations shall be subject to a full generic environmental impact statement review.

www.nysenate.gov

Similar legislation failed to pass last year. In brief, it would use the state's environmental regulation authority to deny permits for new fossil fuel-based power plants that would be used for consolidated bitcoin mining facilities.

 

[theshep]

Australian Bitcoin exchange myCryptoWallet in liquidation​

Melbourne-based cryptocurrency exchange myCryptoWallet has been placed in liquidation.
The company, founded in 2017 by Jaryd Koenigsmann, claims on its website to be “Australia’s most advanced digital currency solution’’, however comments from frustrated customers on Twitter indicate they have found it difficult to withdraw their funds from the exchange.

Spoiler: Snip

In a series of exchanges on Twitter in April this year, the company’s account says that issues customers were having transferring funds out of the exchange had been resolved, however numerous customers disputed this.

On April 5 the company tweeted: “our customer support manager has reached out to all affected users and has finalised any pending account issues’’.

Several replies to this tweet and others indicate that users were still waiting for funds, or had not been able to contact the company at all.

“Please Jaryd can you help me get the last of my money out? It’s not much to you but it means a lot to me. I’ve sent heaps of emails and opened a lot of tickets on the site with no success,’’ one tweet reads.

“Sent an email over a day ago, no reply yet. Attempted to withdraw, error message and everything is gone...’’ says another.

One Twitter user, who goes by the handle Subsonix, also said they had not had a reply.

“No response via email. Outlined complaint. Will be filing complaint with ACCC, VCA and ASIC,’’ their tweet reads.

The exchange says on its website that it provides “a user-friendly, customer-centric, all-inclusive digital currency service, with a serious and mindful approach to maintaining a high-level of security and customer safety’’.

“myCryptoWallet is an AUSTRAC regulated digital currency exchange that provides its users with the highest level of safety and security currently possible under international ... guidelines.’’

The company launched myCryptoCard in 2019, which it says was an eftpos-compatible card customers could use for everyday purposes.

There were reports in early 2019 that the NAB had closed myCryptoWallet’s bank account, with the exchange saying the bank “made absolutely no attempt to give us any reason or justification for why they have closed our business bank account’’.

The company’s website has a link dated 2018 to an “IPO Press Release” however the link goes to a blank page.

Mr Koenigsmann is the sole director and shareholder of the company.

He also founded pet classifieds site myNewPet which is currently inactive.

Terry van der Velde of SV Partners has been appointed as liquidator. The Australian has contacted SV Partners for further details.

The exchange has also been contacted for comment.

NoCookies | The Australian

www.theaustralian.com.au

 

[Akashic Retard]

Greyscale's 2021 Bitcoin Investor Study has been released and it's got some pretty useful insights.

Survey methodology
An online survey of 1,000 U.S. consumers was conducted by 8 Acre Perspective between August 12, 2021, and August 20, 2021. All respondents were between the ages of 25 and 64, and had primary or shared responsibility for household financial decision-making. All respondents were involved in some form of personal investing, with at least $10,000 in household investable assets (excluding workplace retirement plans or real estate), and at least $50,000 in household income.

• The slice of Americans who own Bitcoin has increased to 26% in 2021 from 23% in 2020.
• Demand for Bitcoin has risen tremendously: more than half (55%) of current investors in Bitcoin began investing over the last 12 months
• Most of these investors are “hodling,” with approximately 66% of those who purchased Bitcoin more than 12 months ago still owning it today. Of the investors who have sold, 91% have sold at least some Bitcoin at a profit.
• More than three-quarters (77%) of U.S. investors said they would be more likely to invest in Bitcoin if an ETF existed.
• The interested market for Bitcoin investment products expanded to 59% in 2021, up from just over half (55%) in 2020 and slightly more than one-third (36%) in 2019, reflecting a steady growth in interest.
• Of those investors whose view of Bitcoin has changed over the past 12 months, nearly one-third (29%) of them say that they have a somewhat more favorable view in 2021, while 15% say they see Bitcoin in a much more positive light.
• More than one-quarter (26%) of surveyed investors already own Bitcoin. Compared to last year, when just over just over one-fifth (23%) of survey participants owned Bitcoin when it was trading below $30,000, this growth in interest is also consistent with the rise in price.
• Bitcoin’s two chief use cases, according to respondents, remain as (i) a store-of-value asset and (ii) as a payment method. While financial institutions continue to grapple with Bitcoin’s role in the global economy, investors have shown a clear preference for Bitcoin as an investment through which they can accumulate long-term returns, as opposed to a currency for making payments
• Six out of 10 Bitcoin investors have sold at least some of the digital asset, with 91% of them having done so at a profit.
• When it comes to investor interest in Bitcoin, investors are most concerned with its “performance track record”, an attitude that is consistent with the theme of Bitcoin as a long-term investment. However, they are placing slightly less emphasis on the store-of-value feature, at 42% in 2021 compared to 46% in 2020 and 54% in 2019.
• More than half (58%) of investors polled consider risk a topic of interest. Older investors are especially keen to understand the risks of Bitcoin, with more than two-thirds (69%) of investors between the ages of 55 and 64 saying this was important. Conversely, young investors between the ages of 25 and 34 named risk as a topic less than half (46%) of the time. Last year, 21% of surveyed investors listed risk as the top reason to avoid Bitcoin as an investment altogether
• Of those investors who are not interested in Bitcoin, they list the digital asset’s vulnerability to cyberattacks as the main reason, at 58%. More than half of investors (53%) blame Bitcoin’s volatility for their disinterest, while 51% say their apathy toward Bitcoin is due to regulation.

From the NY Times: Bitcoin mines in upstate New York fall afoul of Received Opinion.

A Bitcoin Boom Fueled by Cheap Power, Empty Plants and Few Rules

Cryptocurrency miners are flocking to New York’s faded industrial towns, prompting concern over the environmental impact of huge computer farms.

www.nytimes.com

In brief: Received Opinion is now that New York should adopt statewide regulations to discourage mining, on environmental grounds.

Model legislation (currently pending) is here:

NY State Senate Bill S6486B

Establishes a moratorium on consolidated operations that use proof-of-work authentication methods to validate blockchain transactions; provides that such operations shall be subject to a full generic environmental impact statement review.

www.nysenate.gov

Similar legislation failed to pass last year. In brief, it would use the state's environmental regulation authority to deny permits for new fossil fuel-based power plants that would be used for consolidated bitcoin mining facilities.

Meanwhile, in Montana: https://bitcoinmagazine.com/business/wyoming-aiming-5-bitcoin-mining-hashrate
New York has peaked.

 

[Akashic Retard]

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[Orange Rhymer]

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Keynesians HATE it when, you too, print unlimited wealth.
a free (currency) market is a Keynesian's (and communist's) greatest enemy.

 

[Akashic Retard]

Keynesians HATE it when, you too, print unlimited wealth.
a free (currency) market is a Keynesian's (and communist's) greatest enemy.

I should maybe note that the review on the left is for an ethereum podcast, into the ether. They actually think the world economic forum intermingling with ethereum and it's governance is a good thing.

 

[Orange Rhymer]

I should maybe note that the review on the left is for an ethereum podcast, into the ether. They actually think the world economic forum intermingling with ethereum and it's governance is a good thing.

Cool. My revelation was prompted by the quote on the right. Plus the recent 'backlash' against crypto in mass (boomer)-media.
Just all of a sudden crystalized.
The one thing Statists require is an iron grip on their currency.
Emperor Diocletian tried to make barter punishable by death. His forced economic policies were universally laughed at.

Over a millennium later, and the politicians still don't get it.

 

[AnOminous]

People are screaming.

 

[Freya]

I sold mine just shy of the ATH. So I hold none and hope it drops to 30k again by spring

 

[Merchmongler]

I sold mine just shy of the ATH. So I hold none and hope it drops to 30k again by spring

We're going down to $10k, baby.

 

[Treasure Champs]

We're going down to $10k, baby.

Nah. 40k maybe. Anything under and the whole crypto space is going to be fucked.

 

[Ahriman]

Black Gentoo Man explains