Bitcoin
Bitcoin
- Started
- Last post
- 2,694 Responses
- NBQ000
Apparently Trump may pardon Ross Ulbricht (Silk Road founder)
- 30:34? Longer than a Mandalorian episode!ideaist
- It’s interestingNBQ00
- i often wonder how stuff like this gains traction... i figure on the list of actual pardons Trump issues this dude isn't remotely on the list.jonny_quest_lives
- it's going to be old timey white collar pardons for people Trump actually knows. like jared kushner's dad. get real.jonny_quest_lives
- drgs0
Michael Saylor, entrepreneur behind MicroStrategy (which owns 70 000 BTC). They bought a sizable amount during this rally. Anyway, the dude is having a meltdown
https://twitter.com/michael_sayl…
- I get why people put money into Bitcoin from the perceived risk of currency devaluation. But unless bitcoin goes up (continued inflow of said devalued currency)shapesalad
- , when people do what to use their stored value, considering how bad bitcoin is at payments, you'd need to convert it back to said devalued currency.shapesalad
- Eg, $100 into bitcoin today.. wait 5 years, inflation means you need £1k to have the buying power of £100 in 2020. You convert bitcoin to $, and it becomes $1kshapesalad
- or... less or more.. all depends on the exchange rate between $ and bitcoin. And no one knows where that will be.shapesalad
- Seems buying gold... while not exciting, is somewhat more... at least useful to a jewellery shop...shapesalad
- BTC absorbs energy now huh? Reads like he just discovered William Gibson after doing a speedball. Said it when he first bought into the market...jonny_quest_lives
- Dude's gonna pull a full "McAfee"...jonny_quest_lives
- Bennn0
It's up again. I currently have 35% return ... This is crazy!
- The last leg up was was futures driven, which usually means its time for a reckoningdrgs
- I cashed in half of mine at 23k. Will wait and reinvest when it drops again.hardhat
- I cashed in half earlier, will sell one quarter at 25300 if we get theredrgs
- No market out there didn’t return less than 35% though in the same time. Just sayin.monospaced
- 35% isn’t “crazy” dude. But I’m happy for you. Be smart.monospaced
- Let's see where it goesBennn
- 37% this morningBennn
- AQUTE0
im hurting on ripple but everything else is amazing
HODL
- NBQ000
25K
- _niko0
What’s to stop Bitcoin from going to 50k, 100k, 1m or even 1 billion?
It’s not pegged to anything, no performance, no outlooks, just wild speculation everyone’s become a paper millionaire overnight.
People who hold a reasonable amount of shares could easily trade small amounts amongst each other just to artificially inflate the price, creating more and more hype and driving the price to astronomical heights.
So is there a ceiling? Theoretical or otherwise?
- Logic is the ceiling. As it's purely based on supply and demand, it could go to zero much faster. Pure gambling.formed
- The fact that it's surging on a holiday is maybe not coincidental. Order books are empty, spot volume is also low (for a breakout like this). It's thin air abovdrgs
- May just as well tap 30kdrgs
- 1. Print Tether out of nothing
2. Buy bitcoin using Tether on exchanges, driving up the price
3. Keep bitcoin as "collateral" for the printed Tethersjonny_quest_lives - Once the reality sets in that the Bitcoin price in Dollars is actually the Bitcoin price in Tethers it's all over.jonny_quest_lives
- The pinch point is trying to get actual money out of that ecosystem...jonny_quest_lives
- Jonny, do you really believe it’s tether that’s driving the price up? And if so wouldn’t it have gone up way faster in the past years?NBQ00
- I believe its tether 100% combined with bot trading to pump the gas. There's no real influx of money to match the 20billion of tether pushed into the market.jonny_quest_lives
- brrrrrrrr..... https://mobile.twitt…jonny_quest_lives
- Pump... https://mobile.twitt…jonny_quest_lives
- interesting how it has these volume surges before it runs +2-3ksted
- pump https://mobile.twitt…jonny_quest_lives
- Giancarlo Devasini... https://mobile.twitt…jonny_quest_lives
- In order for it to go to 1m, simple, you have people willing to buy it at 1m and people waiting to sell it at 1m, instead of 999kshapesalad
- It's pure price action. It peaked and now it's covering that peak. Each time it peaks, it'll drop as those who made $'s sell, and those that buy in hold 4 more.shapesalad
- Here's the issue... Tether does not have 100% traditional currency backing for its reserves. It has “cash equivalents,” which are presumably other cryptosjonny_quest_lives
- Also some of its “reserves” are held in the form of loans that it has made to other parties. Tether has become an unregulated fractional reserve bank.jonny_quest_lives
- A very risky fractional reserve bank, too. Loans that you can’t sell, can’t pledge for cash, and may or may not be able to call upon when due.jonny_quest_lives
- No regulator would let a licensed bank get away with this... Labeling stakes in BTC and other crypto holdings your "reserves" is insane...jonny_quest_lives
- @shapesalad... What you call "pure price action" suspiciously looks like a years worth of wash trading...jonny_quest_lives
- So basically Bitcoin is like the Federal Reserve, the thing they are supposedly against?yuekit
- pretty much... bitcoin bros just want to Pump...jonny_quest_lives
- Yeah I remember seeing this theory years ago...but has it been definitively proven? Do people just not care?yuekit
- If this is true what explains Bitcoin crashing and stagnating for years at a time? Why not just keep printing and the price goes up forever?yuekit
- It’s not printed. It’s mined. You have to put lots of literal power toward making more bitcoins. And they become harder to mine each time one is mined.monospaced
- So the more there are, the harder it is to make more. And the scarcity is preserved. But the only thing making it go up is the demand. For something that isn’tmonospaced
- isn’t anything tangible. It’s the same as beanie babies costing thousands once. The price is driven up by the idea that everyone wants it. For no reason.monospaced
- The moment everyone at the top decides they want to cash out, it crashes. If enough people cash out on reaction it will devalue like fake money.monospaced
- So short answer there is no theoretical reason Bitcoin value can’t go up indefinitely. It can go to billions nothing stopping it.monospaced
- Right but the allegation is that people are using another cryptocurrency, Tether to drive up the price of Bitcoin.yuekit
- Tether is supposed to be backed 1:1 by real money but there is little transparency into the company and some think it is just being created or "printed" out ofyuekit
- nothing. Then fed into Bitcoin market to inflate the price.yuekit
- That's my understanding anyway :) Its a complex topic and these allegations go back years.yuekit
- https://news.bitcoin…yuekit
- https://medium.com/h…yuekit
- https://miro.medium.…jonny_quest_lives
- There are potentially others, so we need to reserve the right to not redeem.
- Stuart Hoegner (Archive), Tether lead legal adviser.jonny_quest_lives - Per Tether’s terms of service, only those who bought tethers directly from Tether Limited—aka “validated users”—can redeem tethers.jonny_quest_lives
- Anyone who got tethers on the “secondary market,” meaning, an exchange, is not able to redeem those tethers.jonny_quest_lives
- So... Bitfinex (Same people as Tether) make you buy USDT to purchase BTC... Bitfinex is defined by Tether as secondary marketjonny_quest_lives
- it's pretty shrewd but also a moot point as of November 23, 2017 Tether itself according to Stuart Hoegner:jonny_quest_lives
- Tether ceased servicing/redeeming customers in the US, and at this time, “no longer provides issues or redemption to any US customers.”jonny_quest_lives
- Some peeps call it a Ponzi scheme... (myself included) In reality it's just reimagined Pink Sheet trading. All good as long as peeps are buying.jonny_quest_lives
- NBQ00-4
Bitcoin was created by ancient Egyptians thousands of years ago. Prove me wrong.
- https://www.thesun.c…GuyFawkes
- Seriously, downvotes?NBQ00
- Which computer did they use?shapesalad
- paging son...oh wait_niko
- They used blocks and transported them with chains.NBQ00
- Hehedrgs
- Actually invented by the Maya, Mayan name is Nioc'Tib, cca. 4000BCgrafician
- sure they just didn't had the computing/data transfer power to run shared walletssted
- they were running ancient alien tech sted duh!grafician
- NBQ00-3
Bitcoin will surge to $1 million in 5 years by an 'enormous wall of money,' former Goldman Sachs hedge-fund chief says https://markets.businessinsider.…
- Bennn0
Holly! 45% return right now! Its getting up again!
I invested 390$... Now worth 570$- 46%Bennn
- wow Bennn please promise us that when your BTC is worth a billion you will still be a good person with a decent, gentleman's heartnb
- that 26.6 was nicested
- https://wpcdn.us-eas…_niko
- 47%Bennn
- damn Bennn you paid 400 bucks on air?! amazinggrafician
- That air give me 185$ of more airBennn
- interesting to see what happens once it tests 34k. probably crash and rek everyone as usual.inteliboy
- im up 355% this year********
- Oh it will crash for sure sooner or later. But it will get back up again.Bennn
- If it does it’ll trigger global hyperinflation. Lates will cost $100,000 as someone said earlier._niko
- I invested $1000 in Bitcoin years ago when it was a buck now from no effort or work by me or anyone it’s worth $25 million. I can now cash out and buy_niko
- A bunch of real estate and invest in other traditional stocks. I can even re-invest in other crypto currencies or even Bitcoin again and making more and more_niko
- Since there is no limit. There are people out there with hundreds of thousands if not millions of bitcoins. What can they do if they all cash out?_niko
- Sorry this is just hypothetical I don’t actually have 1000 Bitcoin lol_niko
- Buy all of us plane tickets to Vegas. We must celebrate!Beeswax
- Bennn, don’t get too greedy bro. $190 profit is enough for you.NBQ00
- I’m up 2189% on Apple. Just sayin.monospaced
- I’m up 167% on palantir.monospaced
- 4,366% on Tesla. But enjoy your pathetic gains on Monopoly money. Cash out before it’s gone. They don’t have a business prospectus. Never will.monospaced
- And 45% is about the same as any market but just a little worse. It’s not actually very good dude.monospaced
- From what I've read you can expect around 9-10% return rate on standard stock investment on the long run on averageBennn
- Mono, are you millionaire? Obviously Bennn got in late. But he’s just playing a bit with beer money.NBQ00
- Lol why does it matter? :D
NBQ00 there are people who are investing thats like Mono. What needs patience and know where to put your money in the long run.sted - And there are the ones who are trading.sted
- These traders are separated to 3 groups: hedgies, daytraders, and the iditos on robinhood.sted
- Bitcoin buyers are just believe they are investors.sted
- I’m not a millionaire no. I put a few grand here and there when I see a good investment. I’ve made money but not rich.monospaced
- Bennnn, you read about the average stock investment. But you’re speaking about a specific currency here, one without governance or a business.monospaced
- Point is, if you invest in something that makes sense, you can make damn good money. And a lot more than 45% and for good reason beyond “other people buy it”monospaced
- And yes. My $2k on apple became enough for a down payment on a million dollar home 6 months ago with a lot leftover. Tesla paid for my car. Etc.monospaced
- lolGuyFawkes
- "dont invest, oh btw i bought a house with my investment!" dont listen to anyone here when it comes to this shit, most of us talk out of our asses here.GuyFawkes
- I didn't say "don't invest." Did I say something you don't believe?monospaced
- I bought AAPL when it was the equivalent of $0.80 (several splits later). $2k turned into $200k. Enough for a down payment on a house and car.monospaced
- I bought Tesla 5 years ago when they revealed the powerpack. It was like $40. Each share is now way over $300. So fuck you for laughing.monospaced
- If you invested this year and DIDN'T make at least 45% the last 8 months, you were an idiot.monospaced
- im at 400% so according to mono im goodGuyFawkes
- all bitcoinGuyFawkes
- _niko0
Total value of Bitcoin at the moment is $350 billion on 21 million bitcoins.
Total “wealth” of the world is $360 trillion.
Does this mean it’s ridiculously overvalued or does it mean there is tons of room for people to “park” more and more of their money?
- BH260
Some real world use coins
Zil Zilliqua blockchain is now working with PepsiCo for ad space etc.
Vet Vechain blockchain for Walmart China inventory
Some altcoins that can be pretty interesting in this bull market run up
- jonny_quest_lives0
Are you suggesting the cryptography underlying Bitcoin is compromised?
Vinay Gupta: Making the jump to saying Bitcoin is compromised is too far. But if you don’t think of this within the very narrow parameters of cypherpunk history, if you put it in the larger scale of political struggle, then what did the US government do to every substantial opposition group? The American Indian movement: smashed with a hammer, you’ve probably never even heard of it. Black Panthers: smashed with a hammer, all that’s left are the Crips and the Bloods. US peace movement: people will tell stories about going to meetings, and a third of the attendees were spies from different agencies. State, federal, local, FBI, CIA, DEA...
You don’t need to be a rocket scientist to figure out that the government has the vast majority of the cards on the table when it comes to force, and they’re choosing to lay absolutely none of them on the crypto-community right now. Silk Road and all of the other drug trade sites that use Bitcoin would absolutely, without any shadow of a doubt, provide the legal reason for killing the Bitcoin-network and arresting everybody involved. Do everybody for drug trafficking, money laundering, all the rest of that stuff. But they’ve decided to better leave it up than to take it down.
So you’ve got to ask yourself: why?
- Let’s take these lessons, and make a Bitcoin that is useless to Wall Street, that doesn’t automatically create a cartel of miners,jonny_quest_lives
- and that doesn’t leave a power vacuum for development which some Foundation will fill. -Vinay Guptajonny_quest_lives
- 2015- helps launch Ethereum... So mixed feelings about Vinay on the one hand a clearly critical voice at times on the other hand gladly entered the volatilejonny_quest_lives
- arena of cryptocurrencies.jonny_quest_lives
- So you’ve got to ask yourself: why?
Well... why?
I don’t know.
top notchsted - "If these libertarians would be good enough to grow the hell up and become anarchists like normal people"
wha?sted - "Bitcoin mafia" nah its Mafias bitcoin :D
crypto is used to finance far worse things than the life of guy like Ulbricht.sted
- NBQ000
27K
- NBQ002
28K
- 50% return this morning on my investmentBennn
- https://www.qbn.com/…
Listen to me I'm oraclishnb - 28k survived for 30 mins :Dsted
- I hope it crash soon. I'd cash out and reinvest at the bottomBennn
- The bomb has been planteddrgs
- drgs where the f is that dip we ordered for christmas? :D:D:Dsted
- yeah the line was drawn to 26.3sted
- I cashed half out @ $23k but kinda hoping for a crash to reinvest. Either that or for it to go to $1Mhardhat
- Monday will be interesting when global markets reopen. I think this surge was only possible in the vacuum of Christmas holidaysdrgs
- Waiting for it to crash to 19k. Also ppl are not selling maybe because they wait for the tax year to end.Beeswax
- hard hat smart. If it drops buy all of it back at a lower price.monospaced
- Carrying bitcoins on your person makes it easier for alien abductions.utopian
- NBQ004
Bennn
- NBQ00-2
- NBQ00-3
- NBQ000
Bennn, you gotta move to one of these countries so you don’t pay tax on your $150 profit