Cryptocurrency

[edjr 5,547]

On 6/25/2021 at 7:49 AM, Mrs. Voltaire said:

Hope you sold yesterday

back to 34

[Cdub100 3,366]

8 hours ago, GutterBoy said:

Buy and hold is for an asset with solid fundamentals.  Crypto is speculation.

It's great looking back and seeing how wrong you are time and time again.

[edjr 5,547]

50k 50k 50k

https://finance.yahoo.com/news/bitcoin-price-crash-doesnt-mean-50000-level-cant-happen-this-year-strategist-160330395.html

[Alias Detective 1,179]

2 hours ago, edjr said:

50k 50k 50k

https://finance.yahoo.com/news/bitcoin-price-crash-doesnt-mean-50000-level-cant-happen-this-year-strategist-160330395.html

20% off its high is not what most bitcoin investors want to hear.

[nobody 2,031]

Shouldn't matter if you DCA. 

Cdub has a good strategy.  Spread the investments around.  Use it for staking or get interest.  Make sure you understand Bitcoin isn't a viable currency and if one of these alternative coins catches on as a real alternative to paper money or credit cards, it's going to go absolutely bananas.  If not... Well you took a shot at it eyes wide open with a good strategy.

[Cdub100 3,366]

6 minutes ago, Alias Detective said:

20% off its high is not what most bitcoin investors want to hear.

Why do you think so? I would be perfectly happy with it.

[Cdub100 3,366]

Just now, nobody said:

Shouldn't matter if you DCA. 

Cdub has a good strategy.  Spread the investments around.  Use it for staking or get interest.  Make sure you understand Bitcoin isn't a viable currency and if one of these alternative coins catches on as a real alternative to paper money or credit cards, it's going to go absolutely bananas.  If not... Well you took a shot at it eyes wide open with a good strategy.

Thank you. I really appreciate your post. 

[Alias Detective 1,179]

12 minutes ago, Cdub100 said:

Why do you think so? I would be perfectly happy with it.

Not you specifically. A lot of folks need 60+ to break even.  

[Frozenbeernuts 1,652]

19 minutes ago, Alias Detective said:

20% off its high is not what most bitcoin investors want to hear.

Most bitcoin investors aren't bothered much at all by the price. Only the ones that haven't had the light go off are worried or upset.

[Alias Detective 1,179]

14 minutes ago, nobody said:

Shouldn't matter if you DCA. 

Cdub has a good strategy.  Spread the investments around.  Use it for staking or get interest.  Make sure you understand Bitcoin isn't a viable currency and if one of these alternative coins catches on as a real alternative to paper money or credit cards, it's going to go absolutely bananas.  If not... Well you took a shot at it eyes wide open with a good strategy.

Not everyone has an unlimited supply to DCA.  See frozen beer nuts.

[Frozenbeernuts 1,652]

Just now, Alias Detective said:

Not you specifically. A lot of folks need 60+ to break even.  

A lot of coins were sold at a loss during this period. The people buying are those that are are hodlers who don't plan on selling for a long time, if at all. The people who sold at a loss will regret it eventually.

[Frozenbeernuts 1,652]

1 minute ago, Alias Detective said:

Not everyone has an unlimited supply to DCA.  See frozen beer nuts.

This isn't a short term investment. Those who do not realize this can and will get burned. Its their fault for not realizing this ahead of time.

[Cdub100 3,366]

4 minutes ago, Alias Detective said:

Not you specifically. A lot of folks need 60+ to break even.  

If they bought at all time highs and didn't sell during the ride down they might as well hold. I still think 100k is possible this year.

Or if traders just got caught with their paints down I don't feel sorry for them. Ive done some crypto day trading and I never held my position over night. I'd sell my position into a bull run rather than risk losing my gains overnight.

[GutterBoy 2,277]

17 hours ago, Cdub100 said:

It's great looking back and seeing how wrong you are time and time again.

I have never been wrong about crypto.  It is all speculation at this point, and you cannot refute that.

[Frozenbeernuts 1,652]

Where my bitches at? Bitcoin above 36k.

[nobody 2,031]

I thought you didn't care about the daily price.

[edjr 5,547]

55 minutes ago, Frozenbeernuts said:

Where my bitches at? Bitcoin above 36k.

 

[Frozenbeernuts 1,652]

The sad part about gutterdunce is that he doesn't read or pay attention to anything bitcoin related. He doesn't read about the increasing money managers recommending bitcoin to their clients

He doesn't read about the increasing support from entire countries to make it legal tender

He doesn't read about the long term hodlers who swear they will never sell their bitcoin. He doesn't communicate with these people to know how serious they are

He doesn't read about the increasing number of billionaires opening positions in bitcoin.

He hasn't even looked at the historical price chart to see that the recent dip is a blip in the life span of bitcoin. He can't comprehend that this price dip was actually a great thing for bitcoin. A lot of coins moved from weak hands to strong hands. Anyone who knows anything about investment knows this is a good thing for long term price action

He has no clue about lightning network and how cheap and fast it makes using bitcoin as a currency. You don't even need to run a full node to use lightning. There are multiple apps and wallets that perform the lightning function for its users

If he actually did read all of these things, but he still thinks the long term prognosis of bitcoin value is lower than the current value, he doesn't understand a single thing about investments, money, what bitcoin aims to achieve, or how fervent bitcoiners are about accumulation.

Do not listen to someone this uninformed, ignorant, or stupid. I dont know if he is just one of those things or all 3. If he is 70, then he gets a pass because most old people can't wrap their head around how the world is changing to a more digital age. Which includes money.

[GutterBoy 2,277]

You spend a lot of time rationalizing your investment.  Odd for someone with so much conviction.  Normally these people would be like "fock you imma be rich"

Also I dont want anyone to listen to my opinion of crypto.  I have no positions.  I don't care if you make or lose money.  I'm simply just refuting the Bs that you spew because you're not very smart, and I would feel bad for equally dumb people here to read your BS and then put money into this scam and then lose it.

[Frozenbeernuts 1,652]

5 minutes ago, GutterBoy said:

You spend a lot of time rationalizing your investment.  Odd for someone with so much conviction.  Normally these people would be like "fock you imma be rich"

Also I dont want anyone to listen to my opinion of crypto.  I have no positions.  I don't care if you make or lose money.  I'm simply just refuting the Bs that you spew because you're not very smart, and I would feel bad for equally dumb people here to read your BS and then put money into this scam and then lose it.

For someone who doesn't want anyone to listen to your opinion you sure have a lot of opinions. When bitcoin is at 100k you will look like a complete fool.

Your only argument is Bitcoin is a digital currency not created by the government, so its speculative. Which means you completely ignore the meteoric rise in value over the past 13 years. No one has ever lost money over a 4 year span of investing in bitcoin. I only need that one point to defeat your pea brain attempt at rationalizing an anti bitcoin stance. I have added a multitude of other reasons why bitcoin is a good investment. You have nothing.

You are way out of your depth here. You stated that you don't want anyone to even listen to your weak ass opinions on bitcoin, so there really is no point for you to be in this thread, is there?

[edjr 5,547]

100k! 100k! 100k!   

[GutterBoy 2,277]

34 minutes ago, Frozenbeernuts said:

For someone who doesn't want anyone to listen to your opinion you sure have a lot of opinions. When bitcoin is at 100k you will look like a complete fool.

Your only argument is Bitcoin is a digital currency not created by the government, so its speculative. Which means you completely ignore the meteoric rise in value over the past 13 years. No one has ever lost money over a 4 year span of investing in bitcoin. I only need that one point to defeat your pea brain attempt at rationalizing an anti bitcoin stance. I have added a multitude of other reasons why bitcoin is a good investment. You have nothing.

You are way out of your depth here. You stated that you don't want anyone to even listen to your weak ass opinions on bitcoin, so there really is no point for you to be in this thread, is there?

No I said I don't want people to listen to you because you are very dumb and good people could lose money they need listening to your idiotic rants.

Btc could go to 100k, it could also be worth zero.  It's not gonna be a viable currency, ever.  It's a speculative asset.  Now shut up.

[Cdub100 3,366]

3 hours ago, Frozenbeernuts said:

Where my bitches at? Bitcoin above 36k.

Supposedly we have one more dip to 35k coming up before blast off, but who knows. 

[nobody 2,031]

I don't quite understand the lightning network thing.

The whole point of Bitcoin was the Blockchain created a secure transaction.  That takes too long to be scalable, so now the lightning network is supposed to not use the Bitcoin blockchain?  What's the point of using Bitcoin at all then? 

[Frozenbeernuts 1,652]

1 hour ago, GutterBoy said:

No I said I don't want people to listen to you because you are very dumb and good people could lose money they need listening to your idiotic rants.

Btc could go to 100k, it could also be worth zero.  It's not gonna be a viable currency, ever.  It's a speculative asset.  Now shut up.

People who buy bitcoin will lose money because I told them to buy it? Even if bitcoin goes to 100k, they still shouldn't have listened to me? How does this make any sense?

[GutterBoy 2,277]

1 hour ago, Frozenbeernuts said:

People who buy bitcoin will lose money because I told them to buy it? Even if bitcoin goes to 100k, they still shouldn't have listened to me? How does this make any sense?

Could.  Do you read?  I said could.

If it goes to zero, money lost.  Get it?

[GutterBoy 2,277]

1 hour ago, nobody said:

I don't quite understand the lightning network thing.

The whole point of Bitcoin was the Blockchain created a secure transaction.  That takes too long to be scalable, so now the lightning network is supposed to not use the Bitcoin blockchain?  What's the point of using Bitcoin at all then? 

Forzennits will reply after he does some googling on this and finds an opinion.

[nobody 2,031]

Here's my white paper on how to make Bitcoin scalable

Build a layer on top of the bitcoin network such that you by pass the bitcoin network altogether to make transactions.

[GutterBoy 2,277]

20 minutes ago, nobody said:

Here's my white paper on how to make Bitcoin scalable

Build a layer on top of the bitcoin network such that you by pass the bitcoin network altogether to make transactions.

It's almost like something new and better might get created that will drive adoption.

[peenie 1,690]

Watching Bloomberg right now. Interesting interview with the founder of Coinbase. 

“Bitcoin is not just a new digital money, it’s a new financial system and a new application platform.”

”The United States might get cryptocurrency wrong (vs China who has the most miners.)”

”Bitcoin is not just speculative and the energy issue, it’ll be more energy efficient.”

”In an increasingly digital world, your wallet will be your digital resume. The future will run on crypto rails.”

[GutterBoy 2,277]

Not very interesting.  It's the same sh1t people have been saying for years.  Except China doesn't have as many miners anymore, if any.

[peenie 1,690]

39 minutes ago, GutterBoy said:

Not very interesting.  It's the same sh1t people have been saying for years.  Except China doesn't have as many miners anymore, if any.

I guess since no one can predict the future there is only so much that can be said on this subject.

[nobody 2,031]

I just don't see what this gets you over a simple credit card.  Lower fees I suppose?  But with energy consumption, if it's not profitable to run the damn application layer, they'll need to raise fees.

It would've been higher security, but the lightning network doesn't even use the proof of work Bitcoin blockchain for security.

I agree that it's a new application platform though.  I just don't understand why it has this cult following.  I guess the concept of decentralization appeals to people, but we've already seen mining consortiums spring up to drive decisions which means power is being transferred to the miners.  It's just going to be new boss same as the old boss.

It seems like we're going through this massive effort in an attempt to cut out the government and banks from the financial world, and it's also probably going to be some bastardization of the original idea that doesn't really provide value over what we already have.

[Cdub100 3,366]

34 minutes ago, nobody said:

I just don't see what this gets you over a simple credit card.  Lower fees I suppose?  But with energy consumption, if it's not profitable to run the damn application layer, they'll need to raise fees.

It would've been higher security, but the lightning network doesn't even use the proof of work Bitcoin blockchain for security.

I agree that it's a new application platform though.  I just don't understand why it has this cult following.  I guess the concept of decentralization appeals to people, but we've already seen mining consortiums spring up to drive decisions which means power is being transferred to the miners.  It's just going to be new boss same as the old boss.

It seems like we're going through this massive effort in an attempt to cut out the government and banks from the financial world, and it's also probably going to be some bastardization of the original idea that doesn't really provide value over what we already have.

I'd say you're looking at it from one narrow perspective. 

I'm not going to pretend to know the future or everything that crypto can do but I just think back to the early 90s when the internet came out and people didn't understand that either they thought I guess it's cool I can send somebody an email and they will get it instantly nobody imagined that the internet would completely change the world. We now watch movies talk video chat order food order cars have strangers come pick us up in their cars play games work pay our bills get coupons run very complex systems and applications over the internet not even the best among Us saw that future back in the early nineties.

When I see with crypto is the same thing except you don't need huge data processing centers to run applications or stream movie and music you don't need huge financial institutions to give you a credit card or manage a checking account for you you can do that with just your phone now through the internet using blockchain in certain cryptos.

We'll look back and laugh at some of the cryptos that people pumped and dumped they will be the pets.com of the crypto boom.

A lot of people will look back and say I wish I had bought Bitcoin or ethereum or cardano or polka dot or all of them just like people look back now and say they wish they bought Tesla or Amazon or Apple or Facebook or Netflix.

[Frozenbeernuts 1,652]

1 hour ago, nobody said:

I just don't see what this gets you over a simple credit card.  Lower fees I suppose?  But with energy consumption, if it's not profitable to run the damn application layer, they'll need to raise fees.

It would've been higher security, but the lightning network doesn't even use the proof of work Bitcoin blockchain for security.

I agree that it's a new application platform though.  I just don't understand why it has this cult following.  I guess the concept of decentralization appeals to people, but we've already seen mining consortiums spring up to drive decisions which means power is being transferred to the miners.  It's just going to be new boss same as the old boss.

It seems like we're going through this massive effort in an attempt to cut out the government and banks from the financial world, and it's also probably going to be some bastardization of the original idea that doesn't really provide value over what we already have.

A problem that you do not see is that we are in a monetary system that is backed by nothing. Fractional reserve might as well not even be a thing. Our money isn't backed by anything anyway

With a system that isn't backed by anything, the government and central banks can print unlimited currency which devalues it. That cannot happen with bitcoin. We are seeing the severity of printing right now with inflation spiking.

Here's another issue with the government printing money like they do, it makes pushing our country toward a welfare state even easier. Guaranteed minimum standard of living is a horrible thing for people. Look at how many refuse to get back to work because of the extra benefits. This is an experiment run by the government to see if they can put more people on welfare basically.

The government is changing the system that was built on strength into something much weaker. They are changing the system anyway, but its not a system that will benefit people like us.

Bitcoin takes the power of ruining our monetary system away from any single entity. Lightning network also fixes the issue of immediate settlement that banks still can't achieve. Think about how many days it takes for a bank transaction to fully settle. Its ridiculous in today's day and age.

[tanatastic 2,061]

You guys think another bull run coming soon?

[tubby_mcgee 686]

On 7/4/2021 at 11:04 AM, Frozenbeernuts said:

A problem that you do not see is that we are in a monetary system that is backed by nothing.

It's been functioning that way for a little while though, right? At least like, a few weeks?


And what monetary system anywhere on the planet, is backed by "something"?   Or...what could a monetary system be backed by that is "something" (what would that something be?)

[Cdub100 3,366]

1 hour ago, tanatastic said:

You guys think another bull run coming soon?

Maybe. 

I think so.

[Mookz 1,287]

1 hour ago, tanatastic said:

You guys think another bull run coming soon?

Depends.  You thinking about getting back in?  

[tanatastic 2,061]

48 minutes ago, Mookz said:

Depends.  You thinking about getting back in?  

Just been DCA all the way down from mid 3xxx on ETh.