$ (BTC) The Bitcoin Thread - NO SHITCOINERS ALLOWED

[Blackhole]

ONLY ONE WAY THIS MARKET GOES AND IT'S DOWN TO ZERO

 

[trickyzerg23]

Did you sell your Bitcoin today?

Have you slapped yourself across the face yet for how retarded you are?

If the answer is "Yes" to the first question, it better also be "Yes" to the second question.

BTC is going back to 30K in the near to mid to long term. The shit should be unloaded as it approaches 30K, but not now.

 

[Owlflaps]

I learned about shitcoin investing at the start of the pandemic. I decided to take the plunge and bought my ETH relatively low during July of 2019. Fast forward, I invested into it like a mad man. It was just sheer dumb luck that I made out like a bandit.

I sold it most of it high before the Ukraine conflict -- then I converted the money I made from my digital dollary-doos to a ETF. Taxes kinda were a bitch, though.

I think I still have like 200 USD in SHIB and another in Cardano. Maybe I'll use it as fun money. I don't think I'm going to invest that mquch into crypto ever again. That was a stressful two years of my life, man.

 

[trickyzerg23]

I learned about shitcoin investing at the start of the pandemic. I decided to take the plunge and bought my ETH relatively low during July of 2019. Fast forward, I invested into it like a mad man. It was just sheer dumb luck that I made out like a bandit.

I sold it most of it high before the Ukraine conflict -- then I converted the money I made from my digital dollary-doos to a ETF. Taxes kinda were a bitch, though.

I think I still have like 200 USD in SHIB and another in Cardano. Maybe I'll use it as fun money. I don't think I'm going to invest that mquch into crypto ever again. That was a stressful two years of my life, man.

Your ETF is about to get fucked up the ass very strongly. You and I both know you just bought a shitload of DIA or, alternatively, QQQ. It was one of those two, and both of those are about to die. Take your money out of the market and run.

 

[MadStan]

I've been watching the market extremely closely. Probably too close for almost 7 months, watching media and the pricing probably 10-15 times per day, every day. Because I find it fascinating, not that I am invested. I think seeing in real-time what is happening rather than reading it in a book in 10 years will give me a richer understanding.

I have friends who are invested however and as you can imagine, we don't agree on crypto or BTC almost on any level.

As much as I would like to believe that the Whales are manipulating the market to their own ends (and surely, they are), they too are finding out that not everything is going to go quite to plan because no economic plan or large scale business plan on a scale like crypto could ever go to a plan 100% given that you can not control every factor in the world.

I am convinced after reading the data available from the Madoff investments that in fact, his largest clients did indeed know it was a scam before they handed over the first dollar to him, and most big clients actually went in with full knowledge of this, and the liquidations of Madoff's assets prior to the big reveal and crash show that either his best clients were all incredibly lucky, or they knew it was a scam and knew when to pull the plug. The latter is more than likely.

The point is, the model for investing in Crypto dramatically changes if you decide in the first instance that it is a 100% scam and treat it as such. Ironically, I did analysis of trading since February based on that aspect and guess what?

You did pretty good.

So the question comes, why have so many big investors lost huge margin calls on their LVR loans and how did they get it so wrong? Most large scale investors with tens of millions are pretty cut throat and get it right when targeting an instrument like crypto.

The answer - or conclusion - I came up with has disturbing implications.

It is my conclusion that BTC was designed for good reasons; was hijacked probably by a country like Russia, North Korea or other) as seen as an exquisite tool for extracting wealth from their opponents economies, but they have lost control of the game plan (to a degree) and as a result of innovation there are actually coins with technology out there that do indeed represent a path forward for a new large scale economy.

So what are the implications?

BTC will not be used a world reserve currency. It can not. But it is extremely likely the technology underlaying ETH will be. Not just as a world reserve currency, but for all currencies.

The myth is that this translates into the coin being intrinsically valuable which it is not. Instead, it offers a government a way forward to permanently install a global taxation system of 1-2% (gas fees) that essentially would replace the entire tax code with a user tax. Missing are the critical infrastructure required to regulate, to resolve disputes and to tackle trade disputes, but they can be installed if a country owns the code and adds on a minute few basis points to the gas fee to cover such things. It also permanently would bring inflation under direct control. If the central bank does all the transaction to scale, they take the gas fees; that becomes government income. Moreover, the code of ETH would allow a government to not only control the gas fees, but they could control the gas fees for certain industries if they were subject of different tax requirements merely by alteration of the code.

BTC and ETH are not friends. They are enemies of one another.

ETH technology is possibly going to come out a winner but not for freedom of money, but for governments to mirror it for a new currency and global taxation.

 

[Owlflaps]

I've been watching the market extremely closely. Probably too close for almost 7 months, watching media and the pricing probably 10-15 times per day, every day. Because I find it fascinating, not that I am invested. I think seeing in real-time what is happening rather than reading it in a book in 10 years will give me a richer understanding.

I have friends who are invested however and as you can imagine, we don't agree on crypto or BTC almost on any level.

As much as I would like to believe that the Whales are manipulating the market to their own ends (and surely, they are), they too are finding out that not everything is going to go quite to plan because no economic plan or large scale business plan on a scale like crypto could ever go to a plan 100% given that you can not control every factor in the world.

I am convinced after reading the data available from the Madoff investments that in fact, his largest clients did indeed know it was a scam before they handed over the first dollar to him, and most big clients actually went in with full knowledge of this, and the liquidations of Madoff's assets prior to the big reveal and crash show that either his best clients were all incredibly lucky, or they knew it was a scam and knew when to pull the plug. The latter is more than likely.

The point is, the model for investing in Crypto dramatically changes if you decide in the first instance that it is a 100% scam and treat it as such. Ironically, I did analysis of trading since February based on that aspect and guess what?

You did pretty good.

So the question comes, why have so many big investors lost huge margin calls on their LVR loans and how did they get it so wrong? Most large scale investors with tens of millions are pretty cut throat and get it right when targeting an instrument like crypto.

The answer - or conclusion - I came up with has disturbing implications.

It is my conclusion that BTC was designed for good reasons; was hijacked probably by a country like Russia, North Korea or other) as seen as an exquisite tool for extracting wealth from their opponents economies, but they have lost control of the game plan (to a degree) and as a result of innovation there are actually coins with technology out there that do indeed represent a path forward for a new large scale economy.

So what are the implications?

BTC will not be used a world reserve currency. It can not. But it is extremely likely the technology underlaying ETH will be. Not just as a world reserve currency, but for all currencies.

The myth is that this translates into the coin being intrinsically valuable which it is not. Instead, it offers a government a way forward to permanently install a global taxation system of 1-2% (gas fees) that essentially would replace the entire tax code with a user tax. Missing are the critical infrastructure required to regulate, to resolve disputes and to tackle trade disputes, but they can be installed if a country owns the code and adds on a minute few basis points to the gas fee to cover such things. It also permanently would bring inflation under direct control. If the central bank does all the transaction to scale, they take the gas fees; that becomes government income. Moreover, the code of ETH would allow a government to not only control the gas fees, but they could control the gas fees for certain industries if they were subject of different tax requirements merely by alteration of the code.

BTC and ETH are not friends. They are enemies of one another.

ETH technology is possibly going to come out a winner but not for freedom of money, but for governments to mirror it for a new currency and global taxation.

I pretty much came to the conclusion that crypto was a scam -- I invested in it anyways, because why the hell not? I like to live dangerously.

Anyone who didn't sell their ETH when it peaked at 4600 has a weak pull out game.

Your ETF is about to get fucked up the ass very strongly. You and I both know you just bought a shitload of DIA or, alternatively, QQQ. It was one of those two, and both of those are about to die. Take your money out of the market and run.

I mean, I didn't invest in either? But I'll keep it in mind. Thanks.

 

[trickyzerg23]

Do you fully comprehend the magnitude of your error if you did not buy at 19K?

Do you understand? Paper hands, feeble glands, no acquisition of lands. Now do you understand?

Do you fully comprehend the magnitude of your error if you did not buy at 19K?

Do you understand? Paper hands, feeble glands, no acquisition of lands. Now do you understand?

Bitcoin poised for 56% rebound by EOY 2022: https://www.marketwatch.com/story/t...st-now-has-for-the-cryptocurrency-11655719167

 

[God of Nothing]

Do you fully comprehend the magnitude of your error if you did not buy at 19K?

Do you understand? Paper hands, feeble glands, no acquisition of lands. Now do you understand?

i bought
am i rich?

 

[trickyzerg23]

Nevermind. Sell and bail out of the market. GTFO or get BTFO.

 

[Samson Pumpkin Jr.]

I've been watching the market extremely closely. Probably too close for almost 7 months, watching media and the pricing probably 10-15 times per day, every day. Because I find it fascinating, not that I am invested. I think seeing in real-time what is happening rather than reading it in a book in 10 years will give me a richer understanding.

I have friends who are invested however and as you can imagine, we don't agree on crypto or BTC almost on any level.

As much as I would like to believe that the Whales are manipulating the market to their own ends (and surely, they are), they too are finding out that not everything is going to go quite to plan because no economic plan or large scale business plan on a scale like crypto could ever go to a plan 100% given that you can not control every factor in the world.

I am convinced after reading the data available from the Madoff investments that in fact, his largest clients did indeed know it was a scam before they handed over the first dollar to him, and most big clients actually went in with full knowledge of this, and the liquidations of Madoff's assets prior to the big reveal and crash show that either his best clients were all incredibly lucky, or they knew it was a scam and knew when to pull the plug. The latter is more than likely.

The point is, the model for investing in Crypto dramatically changes if you decide in the first instance that it is a 100% scam and treat it as such. Ironically, I did analysis of trading since February based on that aspect and guess what?

You did pretty good.

So the question comes, why have so many big investors lost huge margin calls on their LVR loans and how did they get it so wrong? Most large scale investors with tens of millions are pretty cut throat and get it right when targeting an instrument like crypto.

The answer - or conclusion - I came up with has disturbing implications.

It is my conclusion that BTC was designed for good reasons; was hijacked probably by a country like Russia, North Korea or other) as seen as an exquisite tool for extracting wealth from their opponents economies, but they have lost control of the game plan (to a degree) and as a result of innovation there are actually coins with technology out there that do indeed represent a path forward for a new large scale economy.

So what are the implications?

BTC will not be used a world reserve currency. It can not. But it is extremely likely the technology underlaying ETH will be. Not just as a world reserve currency, but for all currencies.

The myth is that this translates into the coin being intrinsically valuable which it is not. Instead, it offers a government a way forward to permanently install a global taxation system of 1-2% (gas fees) that essentially would replace the entire tax code with a user tax. Missing are the critical infrastructure required to regulate, to resolve disputes and to tackle trade disputes, but they can be installed if a country owns the code and adds on a minute few basis points to the gas fee to cover such things. It also permanently would bring inflation under direct control. If the central bank does all the transaction to scale, they take the gas fees; that becomes government income. Moreover, the code of ETH would allow a government to not only control the gas fees, but they could control the gas fees for certain industries if they were subject of different tax requirements merely by alteration of the code.

BTC and ETH are not friends. They are enemies of one another.

ETH technology is possibly going to come out a winner but not for freedom of money, but for governments to mirror it for a new currency and global taxation.

I find this perspective interesting and it makes a lot of sense. I think that if BTC is indeed hijacked by a country like Russia or North Korea, then the ETH technology may be the way forward for a new global currency. I agree that missing are the critical infrastructure required to regulate, to resolve disputes and to tackle trade disputes, but if a government owns the code and adds on gas fees to cover such things, then it could control inflation and bring taxes under direct control.

 

[MadStan]

I find this perspective interesting and it makes a lot of sense. I think that if BTC is indeed hijacked by a country like Russia or North Korea, then the ETH technology may be the way forward for a new global currency. I agree that missing are the critical infrastructure required to regulate, to resolve disputes and to tackle trade disputes, but if a government owns the code and adds on gas fees to cover such things, then it could control inflation and bring taxes under direct control.

I think the USA might actually appreciate a global currency being launched by BRICS.

On the face of it one can see it as a threat to the reserve status; or one can appreciate the obvious control that China and Russia will impose with it and see it for what it is. People cry the usa abuses the currency but really, hardly at all compared to what we know China and Russia would do with it.

I’d welcome it. I don’t think it would work out as well as they think it would. In fact I think the creation of another reserve by renegade countries would actually increase the value of the USD.

A girl ain’t that pretty until you have an ugly bitch standing beside her for comparison.

 

[Samson Pumpkin Jr.]

I think the USA might actually appreciate a global currency being launched by BRICS.

On the face of it one can see it as a threat to the reserve status; or one can appreciate the obvious control that China and Russia will impose with it and see it for what it is. People cry the usa abuses the currency but really, hardly at all compared to what we know China and Russia would do with it.

I’d welcome it. I don’t think it would work out as well as they think it would. In fact I think the creation of another reserve by renegade countries would actually increase the value of the USD.

A girl ain’t that pretty until you have an ugly bitch standing beside her for comparison.

There are a few things to unpack in this response. Firstly, the idea that the USA would appreciate a global currency launched by BRICS is an interesting one. It's possible that they would see it as a way to increase their own influence and power globally, or alternatively they may see it as a threat to their reserve status. Secondly, the claim that China and Russia will impose control with this new currency is also notable. This could be seen as either positive or negative depending on your perspective; some people might view it as increasing stability while others may see it as giving too much power to two countries with questionable human rights records. Finally, the assertion that America doesn't abuse its currency compared to what China and Russia would do if given control of a global currency is debatable at best. In general, I think this person makes some valid points but there are definitely counterarguments to be made against each one.

 

[MadStan]

A question for BTC owners:

Does it at all strike you as alarming that China and Russia are behind many take overs of actual Gold Mines in Africa and Australia and are proven to be secretly hoarding gold...

While at the same time Westerners have been sold and convinced that it is better to hoard and buy imaginary Gold (BTC)?

Do you really think when push comes to shove people are going to go bananas and deeply desire a currency backed by computer code, or one with piles and piles and piles of actual...Gold?

 

[AnOminous]

Does it at all strike you as alarming that China and Russia are behind many take overs of actual Gold Mines in Africa and Australia and are proven to be secretly hoarding gold...

I'm more concerned with them hogging the rare earth minerals.

 

[Hollywood Hulk Hogan]

A question for BTC owners:

Does it at all strike you as alarming that China and Russia are behind many take overs of actual Gold Mines in Africa and Australia and are proven to be secretly hoarding gold...

While at the same time Westerners have been sold and convinced that it is better to hoard and buy imaginary Gold (BTC)?

Do you really think when push comes to shove people are going to go bananas and deeply desire a currency backed by computer code, or one with piles and piles and piles of actual...Gold?

If shit hits the fan, gold isn't going to do shit, either. Gold isn't much good when everyone wants food

 

[Akashic Retard]

I learned about shitcoin investing at the start of the pandemic. I decided to take the plunge and bought my ETH relatively low during July of 2019. Fast forward, I invested into it like a mad man. It was just sheer dumb luck that I made out like a bandit.

I sold it most of it high before the Ukraine conflict -- then I converted the money I made from my digital dollary-doos to a ETF. Taxes kinda were a bitch, though.

I think I still have like 200 USD in SHIB and another in Cardano. Maybe I'll use it as fun money. I don't think I'm going to invest that mquch into crypto ever again. That was a stressful two years of my life, man.

This is the Bitcoin thread, motherfucker

 

[Samson Pumpkin Jr.]

A question for BTC owners:

Does it at all strike you as alarming that China and Russia are behind many take overs of actual Gold Mines in Africa and Australia and are proven to be secretly hoarding gold...

While at the same time Westerners have been sold and convinced that it is better to hoard and buy imaginary Gold (BTC)?

Do you really think when push comes to shove people are going to go bananas and deeply desire a currency backed by computer code, or one with piles and piles and piles of actual...Gold?

I find it amusing that people are still fixated on gold as a store of value. Yes, it is a precious metal and it has been used as a currency for centuries, but that doesn't mean it's going to be worth anything in the future. Who's to say that people won't decide that Bitcoin is a better store of value than gold? I know that I would much rather have a currency that is backed by computer code than one that is backed by a metal that can be mined.

 

[Samson Pumpkin Jr.]

Do you fully comprehend the magnitude of your error if you did not buy at 19K?

Do you understand? Paper hands, feeble glands, no acquisition of lands. Now do you understand?


Bitcoin poised for 56% rebound by EOY 2022: https://www.marketwatch.com/story/t...st-now-has-for-the-cryptocurrency-11655719167

I certainly do understand the magnitude of my error if I did not buy at 19K. I would have been a fool not to buy at that point. Bitcoin is poised for a 56% rebound by EOY 2022 and I fully intend to be a part of that rebound. I have faith in the future of this digital currency and I believe that it will continue to grow in value. I am glad that I made the decision to invest when I did and I will continue to hold my Bitcoin until it reaches its full potential.

 

[Treasure Champs]

I find it amusing that people are still fixated on gold as a store of value. Yes, it is a precious metal and it has been used as a currency for centuries, but that doesn't mean it's going to be worth anything in the future. Who's to say that people won't decide that Bitcoin is a better store of value than gold? I know that I would much rather have a currency that is backed by computer code than one that is backed by a metal that can be mined.

Yes, this. You gotta break it down to the fundamentals. Like everything else, gold is worth what people are willing to pay for it. Why do people value gold? Because it's pretty, and scarce. It is too soft to be useful for much, and although it's a good conductor there are other metals that can do that, too, and more cheaply. That leaves jewelry and other various forms of bling.

The point of gold is to show off wealth. It always has been. Because showing that you're wealthy is a means to acquire social status and influence, to make the peasants flock to you for work and favor, to show that you can afford to pay people to do your bidding.

People have used gold as a store of wealth, so that the money printers cannot make their fortune deplete in real terms. Then 2008 happened and someone invented a digital equivalent to do the same job. Easy to access, to send to someone else, easy to store, easy to hide, able to be broken down into tiny pieces.

Until we fall to such a place that the warlords have to deck their wives out in baubles again to advertise that THEY are the person to obey in this city (and this role is increasingly held by luxury tech), I'm going to bet on the future and not the past.

 

[AnOminous]

The point of gold is to show off wealth. It always has been. Because showing that you're wealthy is a means to acquire social status and influence, to make the peasants flock to you for work and favor, to show that you can afford to pay people to do your bidding.

Also who would trust a reserve currency run by China or Russia? You're supposed to believe they have a bunch of gold backing it up? Just because they say so? They already bought acts of terrorism with that gold in all likelihood.