All posts made by dyask in Bitcointalk.org's Wall Observer thread
1.
Post 50651206 (copy this link) (by dyask) (scraped on 2020-04-04_Sat_16.42h):
Any thoughts on HnS here? (forgive me for overdrawing on your graph)
P.S. I'm
still overall bearish until we're trading above $6000.
Scary! Head and shoulder patterns are dead on about 1/3 the time. The other 2/3rd is when the price action just grinds on or heads up. Still it is as accurate as other TA or even having a blind monkey throw darts at a chart.
2.
Post 50683415 (copy this link) (by dyask) (scraped on 2020-04-04_Sat_16.42h):
via Imgflip Meme GeneratorWhole of
BTC-world knows this story and everybody is with Elwar, just so Nice to read and to hear he’s ok....
GoGoGo Elwar and be safe!!!
Has a major media outlet picked it up yet?
I heard a story on NPR about it today.
I am surprised by a belligerent reaction to what is essentially building a floating house.
Not sure that I understand this.
Me either. What's the difference between that and an anchored sailboat?
The floating house is more like a prison than an anchored sailboat.
3.
Post 50688261 (copy this link) (by dyask) (scraped on 2020-04-04_Sat_16.42h):
Lot more than a few. If only I had just bought and held ...
4.
Post 50697674 (copy this link) (by dyask) (scraped on 2020-04-04_Sat_16.42h):
It is much better not to plan on BTC hitting 20k soon. If it does that would only hurt if you are short.
Personally I would much rather see BTC just slowly climb to up with lots of sideways consolidation.
5.
Post 50731657 (copy this link) (by dyask) (scraped on 2020-04-04_Sat_16.43h):
I voted for 1 to 5% for the bottom being in. You all owe me now because when it comes to these kinds of predictions I'm always wrong!
6.
Post 50763330 (copy this link) (by dyask) (scraped on 2020-04-04_Sat_16.43h):
I have weak heart and confused mind so every stage looks trap to me and for me actual bull market starts from $15 k.
We breach psychological price barriers on the way up. I think $6,000 is one as that’s when we started to drop fast at the peak of the bear market, it was fucking horrible.
$8,000 is a big deal to me, I dunno why but it just seems like a big jump.
$10,000 is obviously a big sticking point, I think there will be people selling when we get there.
Then we have, as you say $15,000. The next one after that is a new ATH.
I’m not selling anything until north of $30,000 - $40,000.
20k is the psychological barrier for me. I was just a noob 1.5 years ago (well I still am obviously) but I remember thinking "wow I made quite a lot with almost nothing... what if I had invested that amount of money instead of that one ?"... and now that I have (well not completely but it's getting there), I wanna know how much profit I can make with that... and then, I know that it won't stop until... well, the moon. Because at 20k or even 30k, I probably won't sell.
@JSRAW I know you heard it many times but I don't think it really matters what happens in the short term, if we get 5% or lose 5%... in a few years, we'll look back thinking how dumb we were worrying about a few hundred $.
If you been buying and accumulating BTC since late 2017, what is your average cost per BTC? Approximately? No need to dox yourself or screw up your opsec.. just give a kind of ballpark idea what you have been up to in the about past year and a half in regards to accumulating and buying BTC.
Thanks to all the scams, exchange failures, etc ... my cost is close to $20k (USD) per BTC.
On the other hand ... I'm bit more aware these days, so I've avoided a lot of problems over the past year.
If I had just been a holder my average cost would probably be around $200 (USD) per BTC.
There is a lesson in there somewhere.
7.
Post 50790312 (copy this link) (by dyask) (scraped on 2020-04-04_Sat_16.43h):
tl;dr = print moar tethers
(((timberrr)) weeeeeeeeee
Another scam I didn't 100% avoid. At least this one may not be as bad of a hit as right now I'm mostly mining. (I don't think I'll ever learn.)
8.
Post 50817124 (copy this link) (by dyask) (scraped on 2020-04-04_Sat_16.43h):
I posted it months ago.
Massive amounts of drug money is laundered BY THE BANKS into the US stock market which provides a lot of it's liquidity. If you remove the drug money laundering, the stock market loses much of it's liquidity and crashes (unless the PPT picks up the slack). It appears they are doing the exact same thing with digital shitcoins now. Criminal banks like HSBC laundering massive amounts of money in Bitfinex which artificially raises the market.
Even if that were completely true, it is only a tiny drop in the bucket. World-wide the illegal drug trade isn't even worth $400 billion US dollars. Just the New York stock exhange market alone is worth over $30 trillion US dollars. If you are going to post FUD at least try to have a small amount of intelligence in the post.
https://en.wikipedia.org/wiki/Illegal_drug_tradehttps://en.wikipedia.org/wiki/New_York_Stock_Exchange
9.
Post 50817590 (copy this link) (by dyask) (scraped on 2020-04-04_Sat_16.43h):
I posted it months ago.
Massive amounts of drug money is laundered BY THE BANKS into the US stock market which provides a lot of it's liquidity. If you remove the drug money laundering, the stock market loses much of it's liquidity and crashes (unless the PPT picks up the slack). It appears they are doing the exact same thing with digital shitcoins now. Criminal banks like HSBC laundering massive amounts of money in Bitfinex which artificially raises the market.
Even if that were completely true, it is only a tiny drop in the bucket. World-wide the illegal drug trade isn't even worth $400 billion US dollars. Just the New York stock exhange market alone is worth over $30 trillion US dollars. If you are going to post FUD at least try to have a small amount of intelligence in the post.
https://en.wikipedia.org/wiki/Illegal_drug_tradehttps://en.wikipedia.org/wiki/New_York_Stock_ExchangeLol. I'm sure Wikpedia has really legit sources on the financial industry of the illegal drug trade. It's basically written by Gmaxwell afterall, my #1 go to source for information like this. And how is $400 billion a "drop in the bucket" if the bitcoin market cap is $93 billion? It's a fact much of the high end, white collar crime money laundering is done through the stock market and real estate, and I'm sure much of bitcoin's market cap has been a funnel for that as well.
There's a lot of stupid art that's sold for ridiculously high prices not because it's actually worth it, but because art is also used to launder money. Kind of like how an imaginary, valueless timestamp (bitcoin) has been sold for thousands of dollars. Also, your example of the US stock market comparing numbers is meaningless because it's mostly about providing marginal buyer liquidity, so the total market caps don't matter. If you can keep a steady trickle of consistent marginal buyer liquidity, you can keep a much bigger bubble afloat as long as not everybody tries to sell at once.
I choose a source I figured you might be able to understand. You clearly have a very weak understanding of concepts like liquidity or the size of the markets. Even the New York stock exchange market is chicken feed compared to things like Forex. BTC is headed to that type of currency market. Your FUD is totally ineffective.
If one doesn't consider government criminals, the actual amount of money involved is crime is small compared to everyday national sums of capital. It is possible that drug money could influence a stock or two, no chance on the whole market. It is just too small of a money flow. Sure it huge to personal finances, but tiny compared to even the US equity market, let alone the much larger global markets. If you want to see where the big money is, you need to learn about what central banks are doing. That have vastly more impact on equity markets than any illegal laundering of money.
10.
Post 50822603 (copy this link) (by dyask) (scraped on 2020-04-04_Sat_16.43h):
Sorry for quoting the Roach, guys, but this may be worth a laugh. I was (passive-aggressively) amused.
So I guess he isn't one of the respected leaders here ... I wasn't sure since there is a lot of noise in this very lively thread. Anyway don't be too hard on him. He is likely bed bound due to excessive weight or something like that. At least he identifies himself as something undesirable. A couple years ago when I left bitcointalk guys like him seemed to rule this forum. Now it seems their presence is pretty controlled.
Frankly I had given up on Bitcoin a couple years ago after being scammed so many times and being accused of being a scammer whenever I just spoke what I thought. If I had just been a holder I would be sitting pretty! At one point I had over 50 times the amount of BTC I do now!
11.
Post 50831575 (copy this link) (by dyask) (scraped on 2020-04-04_Sat_16.44h):
Hi. I think the top is in for this recent bull run, and that we will likely fall significantly from here. I don't think people are taking the downside risk here very seriously. Price was strongly rejected at the weekly 50 EMA (in black) and it's currently being suppressed by the 61.8% retrace, as well as the top of the ribbon on my screen. Not to mention, the NVT is bearish AF . Do what you want. I'm out of BTC until we retest significantly lower prices. The only thing that will make me change that view, is if we breakout above the weekly 50 EMA (in black.) However, I don't see that happening anytime soon.
To think that BTC will just tap the weekly 200 MA/EMA (like it did in December (purple/orange)) and then never test them again before we enter the next bull market, is extremely unlikely. Especially when you consider the log chart. When I look at my log chart, I can see that we still have not yet come into contact with the lower side of the arch. That is still quite a way out, in terms of time and price. It should happen somewhere in the 3000-4000 range. Knowing that, I'm going to sit on the nice pile of cash that I've made since December, and buy one metric F ton of Bitcoin when the time is right. Until then, I will be watching through my binoculars as the bears completely slaughter the naive, complacent, and unsuspecting bulls.
I'm The Master of The Charts, The Professor, The Legend, The King, and I go by the name of Magic! Au revoir.
***This information is not a recommendation to buy or sell. It is to be used for educational purposes only.***
Well I think if you mix up enough different time periods in the indicators one can tell pretty much any story they want too.
12.
Post 50844436 (copy this link) (by dyask) (scraped on 2020-04-04_Sat_16.44h):
Bitcoin is simply not going to succeed because you can't commit fraud with it.
Bitcoin is designed for fraud. It's not actually possible to take delivery of a bitcoin - it's 'cloud banking'. If you're unable to actually take possession of something you make believe is your 'asset', you're gonna get screwed. Since tokens are non-fungible and transaction validators are designed to centralize, you then need to beg permission to one of the 1-10 megapools/miners which will be heavily govt controlled. It's nothing more than an empowering govt scheme - a global surveillance and control cashless society slave system.
#BitcoinIsCompleteOrwellianGarbage
#BuyPhysicalMetals
That is pretty poorly thought out! The whole commodities exchange is based on things one can't actually take hold of except in theory. In fact that is true of stocks too for the most part. Forex is trading is like that too! Then there is the options and futures markets. On and on, it is all based on "cloud banking" even long before cloud computing existed.
There is a lot of fraud with Bitcoin, but that isn't by design. Traditional FEIT currencies are much more useful crime because they can be truly anonymous unless a lot of effort is put into tracing the currency. Also huge amounts of currency can be digitally transfer that can't be actually physically taken delivery of. While Bitcoin has been used in scams and even large scale crime, it leaves trails that take a lot of effort to hide.
Additionally one can take physical delivery of bitcoin in the form of a hardware wallet. It is really little different than any other form of money as far as possession is concerned.
Bitcoin has centralized but it has nothing to do with the fungibility of bitcoin, rather it is due to what proof of work is for bitcoin. While there are mega-pools they are seldom if ever controlled by governments. In fact now there are a more than 10 large pools. It is currently rare to see a pool taking over 20% of the network hashing. It used to be that fewer mega-pools were handling more than that. Additionally pools can be used without begging for permission, most of the time one only needs a wallet address. Clearly you have never mined any bitcoin or else you would know that.
Cashless society is happening but it doesn't need crypto-currency to exist.
13.
Post 50844995 (copy this link) (by dyask) (scraped on 2020-04-04_Sat_16.44h):
Additionally one can take physical delivery of bitcoin in the form of a hardware wallet
Jesus Christ, can you people stop lying for even one minute? Bitcoin is cloud banking - a virtual breadloaf that you claim to own a slice of. It CANNOT be removed from this cloud system; you cannot transport it to your house, a safe, your car; it never moves, it always stays in the cloud. It is not possible to take delivery of a bitcoin. If it was possible, the act of me deploying a giant mass of ASICs and censoring all transactions except my own would have no effect on you, but it does.
You can't do jack shit because you never had possession of anything. It's billed as a cooperative system with some sort of Nash equilibrium, but it's nothing more than a dystopian permissioned ledger in practice, ripe for complete govt control since transaction validators/mining warehouses centralize so much and have such easy surface attack vector for govt control and regulation.
Just about everything concerning the whitepaper was either false from the start or became untrue over time. For example, it claims bitcoin is a "peer to peer" system for transactions, yet it's not even possible to do a transaction without involving three or more parties in the first place. The extra parties are the built-in rent seeking middlemen, then the nodes and whole mass of other shit. I do not consider a system with built-in 3rd parties as "peer to peer". Whereas using physical metals or even a god damned tree branch I can do an actual peer to peer transaction.
Since truth is a foreign concept to you I don't mind you calling me a liar. I was pointing out that bitcoin possession can be far more tangible than many other forms of wealth in our modern society.
The rest of you post is mostly nonsense but I think that is clear to anyone intelligent.
Edit: Since I've been asked not to quote you ... I think I'll just ignore your senseless prattle from here on out.
14.
Post 50845092 (copy this link) (by dyask) (scraped on 2020-04-04_Sat_16.44h):
Please stop quoting Roach.
No, we need what he knows.
100% pro sucks. 100% is like dictatorship
I don't think you have to worry about that. Roaches are hard to kill.
15.
Post 50859751 (copy this link) (by dyask) (scraped on 2020-04-04_Sat_16.44h):
The future of silver and gold is bleak. Technology continues to improve mining yields on earth and over the next few decades we are likely to see a flood of precious metals from mining in space. Robots will be doing it and while it will be slow at first, as robotic ships build more robotic ships it will grow exponentially. Over the next century the value of gold will plummet.
https://www.sciencefocus.com/space/space-mining-the-new-goldrush/The future stores of value will be something like digital currency. It might not be bitcoin in a century, but at least bitcoin is leading the way.
16.
Post 50861174 (copy this link) (by dyask) (scraped on 2020-04-04_Sat_16.44h):
It is very short sighted to think that gold or silver has a secure future. Mining in space will require power but in the inner solar system solar power works fine. As you go out the gas giants, even some moons can provide almost unlimited supplies of fuel. Fission isn't a problem either in deep space as long as the reactors don't come back to earth. Energy isn't an issue. Mining the solar system will start slowly but the handwriting is on the wall. The only real hurtles are battery technology and AI to run the ships. Huge inroads in both areas over the last few years. It will be insanely expensive at first, but those expenses will be dwarfed by the long term profits. It will happen because that kind of profit brings power. There are people that will do anything for power.
That is why digital currencies or something similar will replace gold as a store of value. It might take a few decades but something will replace gold as a store of value because there is too much gold in the solar system, it is just a limited problem of how to get it. We may even find economical ways to distill gold from sea water. There is more gold dissolved in the oceans that has currently been mined. Lack of technology has been protecting the value of gold, but that is rapidly changing.
17.
Post 50864502 (copy this link) (by dyask) (scraped on 2020-04-04_Sat_16.44h):
It is very short sighted to think that gold or silver has a secure future. Mining in space will require power but in the inner solar system solar power works fine.
2) No matter how much handwaving and lying you do, everyone knows the cost of production for anything in space will be orders of magnitude higher than on earth.
Thank you for proving you are totally clueless. It would be better to learn something about a subject before talking about it.
However you do realize something. The value of bitcoin is closely tied to the cost of mining and maintaining it. It actually has a basis for its value. The value of gold though is completely base on the current scarcity of it. Over then next decades the scarcity is likely to change a lot.
Also I'm not a scammer, I'm not trying to sell anything and if I were you would likely be the last type of person I would want to sell too. I also don't want or need anything from you. So I'm done with you as you clearly don't have anything useful to say.
18.
Post 50872724 (copy this link) (by dyask) (scraped on 2020-04-04_Sat_16.44h):
The value of gold though is completely base on the current scarcity of it. Over then next decades the scarcity is likely to change a lot.
The point on scarcity is correct because its already true, most of the gold mined was done in the last hundred years. The obvious reason being the industrial revolution and the introduction of the combustion engine, of course the mining of gold increased massively.
So why isnt gold as cheap as hell, the price went up no doubt about it in any currency I've ever heard of. Certainly sterling the oldest FIAT standard and originator via Newton of a gold standard the price altered massively from the old £1 gold coin exchanged (still made) and now £1 doesnt buy a snack.
FIAT has exceeded the production of gold, its proven even easier to increase production. Another reason is the great population growth in the world, its not linear more like exponential growth and some view this as very negative. I really dont as people can be gigantically productive and inventive and I rate people as an asset to any country but thats a personal view. Gold divided among all these new people together with an ever greater bias to giant government and global corporations over the people as individuals and the origins of capitalism as capital and production with the people not the state, we have the result in gold price going up greatly and so far as I can tell will continue to go up for as long as Im around hence I hold it as capital.
What I really disagree with is the idea of gold or Bitcoin as if they oppose each other. I'm not even going to discuss as it makes little sense, its like saying Bitcoin or live in your own house when both can be productive assets. The argument to hold many assets not just one should be perfectly clear as we see great variation in Bitcoin, it doesnt invalidate it but it makes sense to have many options to stay stable personally
I don't disagree. The current value of gold reflects the low value of FIAT. I don't know if Bitcoin will replace gold or something else will or something all together different will happen. I just expect a massive change, at least in the lifetime of my children if not my own. Depending on the continued value of gold seems very risky.
19.
Post 50873072 (copy this link) (by dyask) (scraped on 2020-04-04_Sat_16.44h):
The value of gold though is completely base on the current scarcity of it. Over then next decades the scarcity is likely to change a lot.
The point on scarcity is correct because its already true, most of the gold mined was done in the last hundred years. The obvious reason being the industrial revolution and the introduction of the combustion engine, of course the mining of gold increased massively.
So why isnt gold as cheap as hell, the price went up no doubt about it in any currency I've ever heard of. Certainly sterling the oldest FIAT standard and originator via Newton of a gold standard the price altered massively from the old £1 gold coin exchanged (still made) and now £1 doesnt buy a snack.
FIAT has exceeded the production of gold, its proven even easier to increase production. Another reason is the great population growth in the world, its not linear more like exponential growth and some view this as very negative. I really dont as people can be gigantically productive and inventive and I rate people as an asset to any country but thats a personal view. Gold divided among all these new people together with an ever greater bias to giant government and global corporations over the people as individuals and the origins of capitalism as capital and production with the people not the state, we have the result in gold price going up greatly and so far as I can tell will continue to go up for as long as Im around hence I hold it as capital.
What I really disagree with is the idea of gold or Bitcoin as if they oppose each other. I'm not even going to discuss as it makes little sense, its like saying Bitcoin or live in your own house when both can be productive assets. The argument to hold many assets not just one should be perfectly clear as we see great variation in Bitcoin, it doesnt invalidate it but it makes sense to have many options to stay stable personally
I don't disagree. The current value of gold reflects the low value of FIAT. I don't know if Bitcoin will replace gold or something else will or something all together different will happen. I just expect a massive change, at least in the lifetime of my children if not my own. Depending on the continued value of gold seems very risky.
20.
Post 51105309 (copy this link) (by dyask) (scraped on 2020-04-04_Sat_16.46h):
People feeding roach, must be a slow day
If roaches don't find food they can eat the paint off walls. Masters at surviving but not very clever.
21.
Post 51115653 (copy this link) (by dyask) (scraped on 2020-04-04_Sat_16.47h):
"You have 0 sendable merit (sMerit)"... plz, accept a big hug. Thanks for this nice infography
Gave the post a merit for you.
The post did deserve it.
22.
Post 51132874 (copy this link) (by dyask) (scraped on 2020-04-04_Sat_16.47h):
Bitcoin is a store of value.
Wrong for the 4000th time. Nothing is a store of value unless it's a non-perishable commodity. Bitcoin is neither non-perishable or a commodity. Claiming Bitcoin is a store of value is no different than claiming Dogecoin, Factcom, or NXT is a store of value. Everyone knows that statement is completely false, you just pretend you can pass off your lie for bitcoin in an attempt at personal gain.
In case whoever is reading this is stupid and can't figure it out, things like Bitcoin require external inputs to exist at all. It's extremely perishable and can disappear at any second. A real non-perishable commodity like silver or gold simply sits there rejecting any advance of entropy (as far as any human civilization time span is concerned) and doesn't simply vanish without a black hole hitting the planet.
Total nonsense. A store of value can be anything that a society chooses. Many non-metal things have been used in the past, such as salt and even stones carved into wheels. Today, art, coins, stamps, baseball cards and even dolls are often used as stores of values. As far a commodities go, they are mostly traded in forms of derivatives and actually probably less real than crypto-currency. Most stores of value in this age are nothing more than numbers in accounts. We are so far from using gold or silver as a currency that hording them provides no security. Gold does have a long history of being a useful store of value, but we are at the end of that period. Maybe you can be buried in a gold coffin, you won't be any better off than someone buried at sea. In the future maybe your coffin will be found and people will wonder how profoundly stupid it was to horde so much almost as such a common resource as gold.
23.
Post 51161581 (copy this link) (by dyask) (scraped on 2020-04-04_Sat_16.47h):
Dumbest reporter ever? Naw just a typical one.
https://www.chron.com/technology/businessinsider/article/Here-are-George-Soros-biggest-investments-13627300.php"Date: January 2018
Prediction: Soros slammed cryptocurrencies as bubbles and derided bitcoin in particular.
"Cryptocurrency is a misnomer and is a typical bubble, which is always based on some kind of misunderstanding," Soros said.
"Bitcoin is not a currency because a currency is supposed to be a stable store of value and the currency that can fluctuate 25% in a day can't be used for instance to pay wages because wages drop by 25% in a day. It's a speculation. Based on a misunderstanding."
Outcome: Correct.
Bitcoin plunged 70% to a low of $3,136 in December 2018. It has since made somewhat of a recovery, more than doubling off its low, and now trades just below $8,000.
Source: Forbes"
24.
Post 51259641 (copy this link) (by dyask) (scraped on 2020-04-04_Sat_16.48h):
This chart has some great info!$BTC: Still waiting on that 30%+ pullback?
Bitcoin had eight 30%+ pullbacks last market uptrend but the average time between each pullback was 98 days
BTC had a serious 26.3% pullback on May 17th, which means the next major retrace could be a couple months away
https://twitter.com/Josh_Rager/status/1133371092175863808 It had that pullback on bitstamp only. all the other exchanges were between 16 - 19% average of 17.5%
It only went that low on bitstamp because of the 4000 sell wall.
It's going to dump slow but steady soon ending at $2500 before the year is out imho.
I hope you didn't mortgage your home to fund your short position. There are way too many homeless folks already.
25.
Post 51260069 (copy this link) (by dyask) (scraped on 2020-04-04_Sat_16.48h):
This chart has some great info!$BTC: Still waiting on that 30%+ pullback?
Bitcoin had eight 30%+ pullbacks last market uptrend but the average time between each pullback was 98 days
BTC had a serious 26.3% pullback on May 17th, which means the next major retrace could be a couple months away
https://twitter.com/Josh_Rager/status/1133371092175863808 It had that pullback on bitstamp only. all the other exchanges were between 16 - 19% average of 17.5%
It only went that low on bitstamp because of the 4000 sell wall.
It's going to dump slow but steady soon ending at $2500 before the year is out imho.
I hope you didn't mortgage your home to fund your short position. There are way too many homeless folks already.
my home is quite safe.
and I don't think it's people going short that need to worry.
https://blockchainwhispers.com/bitmex-position-calculator/Since you are predicting a price of $2500 ... you need to worry a lot. It seems you are not even close to understanding how Bitcoin works. You are basically predicting and counting on a total failure of the bitcoin network.
26.
Post 51260959 (copy this link) (by dyask) (scraped on 2020-04-04_Sat_16.48h):
This chart has some great info!$BTC: Still waiting on that 30%+ pullback?
Bitcoin had eight 30%+ pullbacks last market uptrend but the average time between each pullback was 98 days
BTC had a serious 26.3% pullback on May 17th, which means the next major retrace could be a couple months away
https://twitter.com/Josh_Rager/status/1133371092175863808 It had that pullback on bitstamp only. all the other exchanges were between 16 - 19% average of 17.5%
It only went that low on bitstamp because of the 4000 sell wall.
It's going to dump slow but steady soon ending at $2500 before the year is out imho.
I hope you didn't mortgage your home to fund your short position. There are way too many homeless folks already.
my home is quite safe.
and I don't think it's people going short that need to worry.
https://blockchainwhispers.com/bitmex-position-calculator/Since you are predicting a price of $2500 ... you need to worry a lot. It seems you are not even close to understanding how Bitcoin works. You are basically predicting and counting on a total failure of the bitcoin network.
like it has for long periods before you mean? Like when miners mined at a loss? like when they had to folk it to reduce the sha256 hash power so that the price could keep up with the profit curve, with countless forks thereafter. Like when they have to hire an army of bull trolls to maintain the bull phase . Like when they have to DDOS multiple sites, log multiple people out of trading accounts during breakouts to make it work? or are you discussing something different?
Wow you are really showing a lack of understanding. Many events did happen, but they were all short term. If the price were to crash as low as you are hoping for the blocks times would slow down to hours or even days. The network couldn't survive that. Yes the difficulty would adjust, but it could take months and at that point there wouldn't be any interest left. All that would be left is a few altcoins and crypto controlled by governments and banks. So your $2500 bet is a sucker bet.
It is possible that events could cause a quick plunge to those levels. It is highly unlikely you would be able to cover though.
Now if you were banking on BTC dropping back to $8000 I would think you have some sense. Heck $7000 is possible, just not as likely. We might even see days at $5000 but those prices aren't network killers. Given time the network could support a $2500 price point, but that would be so slow that a short position would have other problems. It is difficult to maintain a short position for many months or years. Well unless you're position is so tiny it doesn't really matter.
27.
Post 51261507 (copy this link) (by dyask) (scraped on 2020-04-04_Sat_16.48h):
uhhhh
$2500 would be fine
I mean, sure, it would be a bummer and all, but what the actual fuck with all this alarmism?
No, the network would not grind to a halt, fucks sake, what a load of bollocks.
A quick drop of $2500 would probably cause 90% of the miners to shutdown as for most of us our costs are closer to $3500/BTC. So block times would slow to around 90 minutes / block. That would further increase the cost of mining short term. While it possible some fork could be done to change the difficulty it would basically freeze most transactions for months. The problem isn't really with the mining it is with the users and the press.
A slow decline to $2500 would be survivable, but BTC isn't prone to slow moves. This would have to happen over months to allow the difficultly to adjust.
Generally short positions cost money to hold open as one is playing interest. Shorts generally don't survive for years. Long positions just cost opportunities and one can often hold even for decades.
(Currently 1 TH is running me around $0.11/day and most of that is the cost of electricity)
28.
Post 51261960 (copy this link) (by dyask) (scraped on 2020-04-04_Sat_16.48h):
Aren't japanese getting the LEAST sex in OECD?
Something does not compute.
maybe bc they censor genitals out of their porn? probably also all the QE, it seems the more money your nation prints the lower the birth rate which would mean less sex. Birth rates were way higher before central banking in every first world country. Not much time to smash when you are busy wage cucking to afford ever rising costs as your masters debase your wages.
Women work. Double the workers means half the wages. Basic bitch supply and demand THIS IS NOT ANY KIND OF RIDDLE.
Women can be productive, or reproductive. Not both.
Yes, good point, when the man cant support a woman and or children with his wage cuckery due to wages debased every day via money printing, the woman must become a wagecuck as well.
Sound money means women will have more time to look hot and practice blow job skills.
More blow jobs mean men are more productive and society improves drastically.
No. Wages went down BECAUSE women work, they are not a reaction to it.
Right, wages do go down when women enter the work force that weren't working before. That basic bitch stuff you brought up and I agree with that basic bitch logic
you brought to the table.
Wrong of you to imply women categorically are not entering the work force because of reduced wages from currency debasement. I earlier laid out a case where women go to work because their husbands or male partners have decreased wages due to currency debasement. Im specifically referring to decreased wages as in decreased purchasing power(debasement) of the said wages, not the actual dollar amount of the wage going down. That should be blatantly obvious imo, but if its what caused confusion then it should be clear now.
Sound money will fix the problem of decreased purchasing power of male wages and will encourage many women to leave the work force since Big Daddy will be bringing home more than enough bacon for many couples. This exodus of large amounts of women will add further pressure to employers to raise wages and as I said earlier, women can focus on things they are best at like looking good and blowjobs.
Sound money wins. Money printers lose.
As someone that has some macro economics background and who is also married to a Japanese woman I'm going to ignore the profound stupidity presented in this thread.
When there are not enough people in the workforce, productivity on a national level suffers and economies can actually shrink. That is actually the problem Japan has been facing for some time. Sexism has actually damaged the economy and it is only very slowly changes. While it is true that more people going to work can drive down wages, that really isn't important. What is important is what those wages can buy. How many hours you have to work to live is actually more important than how much of some variable currency you actually earn.
In Japan more women are moving into the workplace and more people are working longer. This last year over 97% of college grads have already started working. The school year ended in March and by April 1st over 97% were employed. That is a strong labor market.
Anyway the average woman is a lot smarter than most of the bozos here that can't control their hormones.
29.
Post 51262130 (copy this link) (by dyask) (scraped on 2020-04-04_Sat_16.48h):
As someone that has some macro economics background and who is also married to a Japanese woman I'm going to ignore the profound stupidity presented in this thread.
You completely ignored the fact (as I mention in my post above) that in a vacuum, if you allocate 50% of the resources to men and 50% to women, the male group is always going to vastly outperform the female group to the point where you can almost consider women holding any resources at all malinvestment for a civilization that's trying to compete against other civilizations. Then factor in women have no interest in marrying men who are poorer than they are and you're self destructing your own civilization on purpose by trying to artificially rig some 'equitable' outcome.
I'm pretty sure you couldn't even pass a typical Japanese high school math entrance exam. That isn't that high of a bar either. It is a profoundly sad truth that idiots don't know they are idiots.
30.
Post 51263156 (copy this link) (by dyask) (scraped on 2020-04-04_Sat_16.48h):
Aren't japanese getting the LEAST sex in OECD?
Something does not compute.
maybe bc they censor genitals out of their porn? probably also all the QE, it seems the more money your nation prints the lower the birth rate which would mean less sex. Birth rates were way higher before central banking in every first world country. Not much time to smash when you are busy wage cucking to afford ever rising costs as your masters debase your wages.
Women work. Double the workers means half the wages. Basic bitch supply and demand THIS IS NOT ANY KIND OF RIDDLE.
Women can be productive, or reproductive. Not both.
Yes, good point, when the man cant support a woman and or children with his wage cuckery due to wages debased every day via money printing, the woman must become a wagecuck as well.
Sound money means women will have more time to look hot and practice blow job skills.
More blow jobs mean men are more productive and society improves drastically.
No. Wages went down BECAUSE women work, they are not a reaction to it.
Right, wages do go down when women enter the work force that weren't working before. That basic bitch stuff you brought up and I agree with that basic bitch logic
you brought to the table.
Wrong of you to imply women categorically are not entering the work force because of reduced wages from currency debasement. I earlier laid out a case where women go to work because their husbands or male partners have decreased wages due to currency debasement. Im specifically referring to decreased wages as in decreased purchasing power(debasement) of the said wages, not the actual dollar amount of the wage going down. That should be blatantly obvious imo, but if its what caused confusion then it should be clear now.
Sound money will fix the problem of decreased purchasing power of male wages and will encourage many women to leave the work force since Big Daddy will be bringing home more than enough bacon for many couples. This exodus of large amounts of women will add further pressure to employers to raise wages and as I said earlier, women can focus on things they are best at like looking good and blowjobs.
Sound money wins. Money printers lose.
As someone that has some macro economics background and who is also married to a Japanese woman I'm going to ignore the profound stupidity presented in this thread.
When there are not enough people in the workforce, productivity on a national level suffers and economies can actually shrink. That is actually the problem Japan has been facing for some time. Sexism has actually damaged the economy and it is only very slowly changes. While it is true that more people going to work can drive down wages, that really isn't important. What is important is what those wages can buy. How many hours you have to work to live is actually more important than how much of some variable currency you actually earn.
In Japan more women are moving into the workplace and more people are working longer. This last year over 97% of college grads have already started working. The school year ended in March and by April 1st over 97% were employed. That is a strong labor market.
Anyway the average woman is a lot smarter than most of the bozos here that can't control their hormones.
I like how you ignored me with a nice long response full of virtue signaling. Good going smart one. Stupid is to think Japan and its ridiculous money printing hasnt had terrible consequences for the birth rate of the nation. Having all your women in pantsuits and pursuing careers instead of giving birth can be awesome for the economy for a little while, but then demographics kick in and you have a nation of retired old people with no kids.
If the blowjob jokes got you butthurt then maybe lighten up a bit, its not that serious.
You are only showing how little you know about Japan. It has been insanely hard for most women in Japan to work more than a few years and that is still mostly true. The declining birthrate isn't from woman working in Japan. The workplace in Japan is only slowly opening up to women. While there have always been some career women in Japan, on a percent basis it has been very low. Most women only work a few years at most and stop as soon as they marry.
In fact the declining birthrate in Japan shows the failure of sexism in the modern world.
PS. No butthurt here ... the vulgar comments only show extremely low IQs.
31.
Post 51303892 (copy this link) (by dyask) (scraped on 2020-04-04_Sat_16.49h):
Serious questions again Roach, since you were kind enough to answer the last one.
You used to believe in Bitcoin, then decided you were wrong. Is there a level of success Bitcoin could achieve in the coming years that would cause you to change your mind a second time and become a Bitcoiner again
The reason lots of seemingly smart people errroneously support Bitcoin is because programmers have a God complex and assume every problem can be coded around or fixed with some ghetto hack. Bitcoin in it's initial release was virtually useless except as an intra-bank SDR note, as Hal Finney noted. Absolutely nothing has changed since then. Decentralization, scaling, and everything else; the fundamentals, or lackthereof, are all virtually the same right now as when Bitcoin was worth $1.
In the past I thought there might be some possibility to fix it by some random arbitrary code update, but that's just idiotic, coder monkey type thinking. If you actually study in-depth what can and can't be done, you will realize it's 100% not even possible to create a decentralized digital currency in the first place. Every transaction requires three or more people and has built-in, rent seeking middlemen, so just about nothing in the whitepaper is even true in the first place like being a "peer to peer" currency with "no middlemen".
The price increased 8000x on nothingness, just painting the tape and manipulation from Chinese mining monopoly scammers. Every single person in this thread knew the Chicom scammers 100% controlled the price back when it was in the $200-$1000 range and were artificially raising and lowering at at their whim. Now they pretend the price is actually determined by something else when it's not. It's not possible to create a decentralized digital currency, and Lightning Network is just a permissioned ledger recreation of the already existing banking system. Since the fundamentals are zero, the only thing holding Bitcoin up is temporary, unsustainable, regulatory arbitrage and pump and dump scammers.
Clearly you know nothing about programming. It is also pretty clear you don't really know anything about China either. Have you ever been there? Have you ever worked with a Chinese person? Finally the value of metals is also temporary ... decades from now many of the so-called precious metals will be too plentiful to be valuable.
32.
Post 51332102 (copy this link) (by dyask) (scraped on 2020-04-04_Sat_16.49h):
Wait, so Bitcoin has 'developers' that can play God and alter my digital shitcoins in ways that I don't want? What happens when the developer does this to my physical metals??? Oh wait....they can't! Which is one reason metals are money and Bitcoin isn't.
Well both are water proof but I sure wouldn't want to swim with very much metal. The time for metals to be a store of value is quickly passing.
33.
Post 51334517 (copy this link) (by dyask) (scraped on 2020-04-04_Sat_16.49h):
Imagine going into a grocery store & trying to buy stuff with silver
As if people don't already use metal coins every single day already and have done so for the last 5000 years. All metals revaluation does is give you options of higher denomination coins. In any type of metals system it's never just gold only that's used, it's gold, silver, and copper. Post metals revaluation would look something like this:
$10,000 1 oz gold
$5,000 1/2 oz gold
$1000 1/10th oz gold
$500 1/20th oz gold
$200 1 oz silver
$100 1/2 oz silver
$20 1/10th oz silver
$10 1/20th oz silver
$2 1 oz copper
$1 1/2 oz copper
$0.20 1/10th oz copper
$0.10 1/20th oz copper
Pennies pre-metals revaluation currently cost something like 1.8 cents to make. They would probably use aluminum coins or something for coin denominations below copper like the penny. That was the lowball estimate for silver. It's also possible silver could be a lot higher at something like 20:1 GSR with:
$500 1 oz silver
$50 1/10th oz silver
$25 1/20th oz silver
$5 1 oz copper
$2.50 1/2 oz copper
$0.50 1/10th oz copper
$0.25 1/20th oz copper
In the lowball figure, silver is still a +13.5x while gold is a +7.7x. In the highball figure, silver is +33x vs gold's 7.7x. If you used the lowball figure, you would likely pay 1/20th an ounce of silver for a pizza and the price would remain the same for decades. If you tried to price the pizza in Bitcoin...it's not even possible to have anywhere near a remotely stable price in Bitcoin over a short period let alone decades, which is another reason it's useless as money and is just a Ponzi scheme.
In many parts of the world it is getting harder to use coins. For example in China now many vending machines require a smartphone to purchase a cheap drink. Money is no longer tied to the value of metal.
Also it must burn you know the 1 BTC is worth more than 1 oz of gold.
34.
Post 51334963 (copy this link) (by dyask) (scraped on 2020-04-04_Sat_16.49h):
For example in China now many vending machines require a smartphone to purchase a cheap drink.
In real nations that aren't China, humans simply exterminate their govt when they try to force the Chinese social credit score system on them.
That was just one of many examples. Many places in Europe have been like that for some time. Most money in just numbers, even less real than BTC. Times are changing ... but you still cling to out dated metal hoping for a nuclear war to push us back into the dark ages.
35.
Post 51343540 (copy this link) (by dyask) (scraped on 2020-04-04_Sat_16.49h):
In my children's lifetimes ... Silver will be to worthless to try and use as a store of value. There will simply be too much of it. Already silver has lots of issues as a store of value. Gold probably as more time left than silver as a store of value. (Not that is really used for that anymore.)
36.
Post 51345507 (copy this link) (by dyask) (scraped on 2020-04-04_Sat_16.49h):
In my children's lifetimes ... Silver will be to worthless to try and use as a store of value. There will simply be too much of it.
So easy to spot the kike shills when they post insanity like this. There's 1/4th as much above ground silver right now as during the 80's and twice as much above ground gold. This is why silver is one of the biggest fears of Jewish usury scammers on the planet. There will be nobody adopting your digital currency, cashless society slavery system, (((Larry Summers))). No amount of Jew shilling will change that fact.
Over the next 50 years there will be many more sources of silver and many other metals. Hiding your head in the sand won't stop the march of technology.
37.
Post 51369468 (copy this link) (by dyask) (scraped on 2020-04-04_Sat_16.50h):
https://bitcointalk.org/index.php?topic=5151405.new#new^
Didn't wanna spam the WO with this, but just my experience @Azurmendi and where I will post following experiences, hopefully you guys gonna share some as well...
Of-course I will share in here as well, just don't wanna spam the thread
What is WO?
38.
Post 51401766 (copy this link) (by dyask) (scraped on 2020-04-04_Sat_16.50h):
The bull market came earlier than in 2015, so we cant predict how long will be the current cycle. It could end in 2020 or 2022, despite the halving.
Lol, this is bullshit talk. When the price of Bitcoin would go from like $200 to $400 in a few days, nobody ever called it a "bull cycle", let alone a "3 YEAR BULL CYCLE". People called the market exactly what it was back then, a Chinese pump and dump scam that can implode at any second. Nobody ever made these retarded claims pretending imaginary, valueless tokens in a pump and dump scam are somehow 'guaranteed' a THREE YEAR bull cycle. The thought is just laughable.
Bitcoin HAS NO PRICE FLOOR. The bottom can drop out at any second. It's happened too many times to count. As soon as it happens, miners shut off turning it into a feedback loop to plummet the synthetic price floor even more. Cost of production in Bitcoin is recursive based on it's own demand. It's a self-referencing system. Cost of production in metals IS NOT recursive. If zero people wanted to buy gold tomorrow, the cost of production would still be the same. That's not how Bitcoin works.
There isn't any such thing as a price floor without artificial intervention. There have been many attempts to create such a thing but none have ever worked without government enforcement.
Your statement about gold is unbelievably unintelligent. If no one want to buy gold the price of gold would plunge until there were people willing to buy it. In fact that has happened many times with gold and other metals! While gold has physical uses, those simple don't support the highly inflated value currently assigned to it. Besides it doesn't matter if something is useful is no one wants to use it or buy it.
Look at the value of your silver! It was more valuable decades ago than it is now. The value depends on buyers and sellers, not on physical vs non-physical.
While you are correct that there is a price that could at least temporary cripple BTC and probably cause demand to decease more because of lack of transactions, that is something that can be adjusted. Miners just need to be able to pay for the cost of mining. It is a complete doom, just a major setback. Gold on the other hand is absolutely doomed in the long term because there is just too much of it. Right now supply is limited, unlimited supply will doom the value of it no matter how useful it is. It will have value but just a tiny fraction of what it currently has.
39.
Post 51403181 (copy this link) (by dyask) (scraped on 2020-04-04_Sat_16.50h):
The bull market came earlier than in 2015, so we cant predict how long will be the current cycle. It could end in 2020 or 2022, despite the halving.
Lol, this is bullshit talk. When the price of Bitcoin would go from like $200 to $400 in a few days, nobody ever called it a "bull cycle", let alone a "3 YEAR BULL CYCLE". People called the market exactly what it was back then, a Chinese pump and dump scam that can implode at any second. Nobody ever made these retarded claims pretending imaginary, valueless tokens in a pump and dump scam are somehow 'guaranteed' a THREE YEAR bull cycle. The thought is just laughable.
Bitcoin HAS NO PRICE FLOOR. The bottom can drop out at any second. It's happened too many times to count. As soon as it happens, miners shut off turning it into a feedback loop to plummet the synthetic price floor even more. Cost of production in Bitcoin is recursive based on it's own demand. It's a self-referencing system. Cost of production in metals IS NOT recursive. If zero people wanted to buy gold tomorrow, the cost of production would still be the same. That's not how Bitcoin works.
There isn't any such thing as a price floor without artificial intervention. There have been many attempts to create such a thing but none have ever worked without government enforcement.
Your statement about gold is unbelievably unintelligent. If no one want to buy gold the price of gold would plunge until there were people willing to buy it. In fact that has happened many times with gold and other metals! While gold has physical uses, those simple don't support the highly inflated value currently assigned to it. Besides it doesn't matter if something is useful is no one wants to use it or buy it.
Look at the value of your silver! It was more valuable decades ago than it is now. The value depends on buyers and sellers, not on physical vs non-physical.
While you are correct that there is a price that could at least temporary cripple BTC and probably cause demand to decease more because of lack of transactions, that is something that can be adjusted. Miners just need to be able to pay for the cost of mining. It isn't a complete doom, just a major setback. Gold on the other hand is absolutely doomed in the long term because there is just too much of it. Right now supply is limited, unlimited supply will doom the value of it no matter how useful it is. It will have value but just a tiny fraction of what it currently has.
40.
Post 51448269 (copy this link) (by dyask) (scraped on 2020-04-04_Sat_16.50h):
If I had a bitcoin for every head & shoulders call I saw that never panned out, I'd be a whale.
41.
Post 51482970 (copy this link) (by dyask) (scraped on 2020-04-04_Sat_16.51h):
BTC bear to self:
Grumble ... well guess we are still on the left shoulder. Sure it will go down ... don't worry there will be a H&S pattern on sometime frame when it does happen. Sure it will be there ...
My note to self:
If I had just held ... I would be years closer to retirement!
42.
Post 51523138 (copy this link) (by dyask) (scraped on 2020-04-04_Sat_16.51h):
I know that some peeps don't like roach, but I thought that the most recent flag against him was merely to warn newbies (and I suppose others) about him - not to get him banned or to get his post deleted - even though some peeps would not mind achieving that either.
Of course, roach seems to go on a bit of a worse spouting of nonsense from time to time, but his nonsense doesn't really seem to be getting any worse - maybe running out of shock value, and lots of folks don't likely read his posts in detail - maybe skim them from time to time, including yours truly.
By the way, sometimes I believe that some of Roach's posts are allowed to stand that should be deleted - but of course, discretion is going to differ from person to person, and overall, infofront does seem to strike a decent balance with his largely hands-off style, and largely leaves it to us to tell roach to fuck off or to ignore roach or whatever other variation of interaction with roach (or not) that we might individually choose.
anyone reading roach will very quickly find his anti crypto, racist, sexist, anti semitic, anti anything except white stance. like within a post or two. his posts almost never vary, its like he has a macro or just copy/pastes from his standard template. i dont think anyone really needs help figuring that out.
and once in a great while he does post something useful on some subject in which he does have some knowledge.
i cant actually see any harm in his obviously wacko postings, and after all thats what the ignore button is for. perhaps delete his really offensive posts is all thats needed, and infofront seems to have a good balance there.
not that im defending him, personally i find hes a thoroughly vile and despicable person, and im not even on his hate list as far as my demographic.
guess my point is, there no need to ban (or arbitrarily delete every post of his) him here in this thread. once we start to arbitrarily delete posts that disagree with what most of us think, well i dislike where that may lead. i do not want the WO thread to be an echo chamber. i find this thread is my main source of bitcoin information, and both good and bad information is needed for one to make informed decisions.
Roaches are typically black, sometimes dark brown. Otherwise I agree with you.
43.
Post 51589946 (copy this link) (by dyask) (scraped on 2020-04-04_Sat_16.52h):
Trace talks his book. e.g. runtogold.com
He apparently doesn't understand what the word "tangible" means. Just another pump and dump scammer trying to get people to buy his imaginary, valueless, permissioned ledger, digital shitcoin scam that doesn't exist anywhere except in your imagination. He compares digital shitcoins to gold hoping goyim idiots will be stupid enough to believe they're the same thing when they're not:
Almost all modern money is intangible with the exception of a very small amount of it being currency which is mostly printed on almost worthless paper. Metals are tangible but they also aren't really money anymore. Just look at the horrible performance of metals over the past few decades. Here is a site that can help with that.
https://inflationdata.com/Inflation/Inflation_Rate/Gold_Inflation.asp
Gold ... a pretty stupid investment!
P.S. No wonder roachy looks so grim.
44.
Post 51590634 (copy this link) (by dyask) (scraped on 2020-04-04_Sat_16.52h):
^Nobody needs to see retard drivel and lies claiming metals are not tangible and bitcoins are. Cry and lie as much as you want, it's 100% impossible for imaginary, valueless, designed to centralize, permissioned ledger digital shitcoins to defeat metals on Exter's pyramid.
Ha! I just pointed out that the "tangible" gold hasn't even kept up with inflation ... So much for that tangible investment.
The real value story for gold is it will be great if the world faces some major catastrophe. The problem with that thinking is that anything that major will wipe out most people no matter how prepared they are. That isn't a world I want to live in.
45.
Post 51621551 (copy this link) (by dyask) (scraped on 2020-04-04_Sat_16.53h):
Where is Roach?
Avoiding daylight.
46.
Post 51621973 (copy this link) (by dyask) (scraped on 2020-04-04_Sat_16.53h):
Bitcoin is dead right?
Sure ... I'll still give you $20 a bitcoin if you want to unload.
47.
Post 51628363 (copy this link) (by dyask) (scraped on 2020-04-04_Sat_16.53h):
Everyone and their mother's mother heard about bitcoin by now, so this is curious.
You are likely WRONG about your speculation that everyone knows about bitcoin. If everyone knows about bitcoin we would have more than1% world-wide adoption.
Everyone has heard of Enron but not everyone owns Enron stock.
Two errors in one statement. Most people in the world haven't heard on Enron, in fact a great deal many people were born after that. No one now owns Enron stock, it no longer exists at least in the public markets. Enron sold all of its assets before coming out of bankruptcy.
48.
Post 51628384 (copy this link) (by dyask) (scraped on 2020-04-04_Sat_16.53h):
The kike plan to try and distract people from physical metals with imaginary digital shitcoin pump and dumps ain't working.
What do you figure the "kikes" are doing exactly? Is Bitcoin entirely a Jew plot? Was Satoshi a Jew setting this whole thing up to screw the goyim? Or are they just manipulating the market?
What's your theory?
Well, if you remember the Max Keiser plan to destroy the Jew banks by taking physical delivery of silver back in the day, that course of action was chosen because silver is the most naked shorted, artificially downwards manipulated commodity on the entire planet. In 2011 it took around 100 days of world production to cover the shorts, in 2014 around 135 days, then in recent years it's all the way up to 200+ days. So, as you can see, even though the price was dropping, the amount of shorts was increasing, even though a rational 'trader' would be buying or covering on the price decrease.
The paper commodity markets are completely unsustainable clown world now. Instead of making any attempt to fix them, they've doubled down on fraud. They're designed to self destruct and wipe out the banks or anyone involved with them while sending certain commodity prices like silver to the stratosphere from having so many years of artificial downward manipulation. There is NO POSSIBLE WAY for the banks to just back out of this unsustainable manipulation time bomb without sending the price of metals to infinity, but that doesn't stop them from pointlessly attempting to fool idiots into buying imaginary, digital scamcoins instead.
https://i.imgur.com/ZVZDNMy.jpghttps://i.imgur.com/0O8nhDi.jpghttps://i.imgur.com/hO68AvN.jpgOk so you say jews have complete control of silver..
I asked about Bitcoin..
You just proved a good point not to buy silver.. It's centralized clown world controlled by banks..
That's another reason why we buy Bitcoin..
No, that's not what I said at all. The goal is to buy low, sell high. Silver is the most artificially downwards manipulated inverse bubble to ever exist, while Bitcoin is an artificially upwards manipulated bubble that has zero fundamentals since transaction validators are designed to centralize making it a permissioned ledger. In any rational world, silver is the best buy there is, while buying an artificial bubble like Bitcoin that doesn't even have fundamentals would be stupid.
Go buy your silver! I'll stick with bitcoin. Silver isn't worthless but it is still way over-valued. BTC is still massively undervalued.
49.
Post 51629276 (copy this link) (by dyask) (scraped on 2020-04-04_Sat_16.53h):
It's an idiot scam chart. The price of Bitcoin cannot go to $225,000 with cost of production at $3-6k. NOBODY would buy a coin from you for $200,000 when they can simply mine one for $3-6k instead. And Bitcoin mining can't increase by something like an order of magnitude to buffer that cost of production or it would use more power than the entire United States. As I said before, the Bitcoin pump and dump scam is butting up against the limits of the natural world. The fact that it's ramming up against the limits of the natural world and mining can't really even expand significantly more should tell you how insane of a bubble it already is.
That is the lamest argument!
1) Production cost of BTC is always changing and mostly climbing up. When BTC is $225,000 the cost of producing it will much much higher than $3000 to $6000 USD.
2) The current cost is in the $3000 to $4000 range but BTC is trading at over $10000. Why do people trade it when they could mine it so much cheaper?
50.
Post 51629294 (copy this link) (by dyask) (scraped on 2020-04-04_Sat_16.53h):
the essence of the reality of the matter is that an overwhelming majority of people do not really know bitcoin beyond having had heard the name, so anyone making suggestions, including Traxo, that everyone knows about bitcoin is engaging in a kind of exaggeration that is not even close to our actual facts on the ground situation.
Do not put words in my mouth which I never spoke.
I actually specifically said "heard about" it - as in heard the term "bitcoin".
Everyone heard about bitcoin by now.
"heard about" or "know about"?
I haven't met anyone since 2017 who hasn't heard about something called "bitcoin".
And mostly they know it's some type of a currency.
In Japan at least, there have been plenty of front page news stories about Bitcoin. I bet almost no one here knows about Enron.
51.
Post 51629358 (copy this link) (by dyask) (scraped on 2020-04-04_Sat_16.53h):
In Japan at least, there have been plenty of front page news stories about Bitcoin. I bet almost no one here knows about Enron.
I never mentioned Enron, r0ach did.
In fact, he could said "silver" there, instead of "Enron", lol.
Sorry it is still early morning for me! I better get some coffee and check the price of BTC.
52.
Post 51642333 (copy this link) (by dyask) (scraped on 2020-04-04_Sat_16.53h):
"Based on Google trends, there is barely an uptick in retail interest so far, which means that this is being driven by institutional interest"
These fags correctly identify the fact that no actual normal people are buying Bitcoin then make up the lie that it's "institutional investors". No, it's the kikes trying to manipulate imaginary, valueless, digital shitcoins upwards to try and distract people from physical metals and segue them into a digital only, Chinese social credit score slavery system.
Or they're trying to manipulate gold upwards to lure people into shitmetals, which can be easily confiscated, and can't be used to bypass capital controls.
That was a JayJuanGee level post. Digital shitcoin transaction validators are designed to centralize and will be completely government controlled with blacklists to turn off whoever's non-fungible, digital dogshit they want to just like they ban Twitter accounts. Digital shitcoins are all permissioned ledgers because it's not even possible to create a decentralized digital currency in the first place, especially when tokens are non-fungible. This is not the case with physical metals.
It costs barely anything to run a digital police state, but orders of magnitude more to run one in the physical world. Nobody can afford the upkeep or henchman compliance to run a permanent, physical police state. Tech giants like Jewgle easily run a low overhead, digital police state every day. 99% of this forum is composed of garbage human beings who are literal clones of Judas standing in line to sell their soul for $2.
It is the other way around. It costs almost nothing to hire bums to steal gold. Mining on earth is already controlled by governments. If you want to take over the bitcoin network it would be very expensive. In fact there are more nodes and mining operations popping up all over the globe now than there were a few years ago. Bitcoin is moving towards being more decentralized, not less. I thought the lightning network changes were going to be a bad thing, but happily I was wrong, it is working out for the benefit of bitcoin. A few years ago there were really only 4 or 5 pools that mined any blocks and a handful of unknowns. Now there are over 15 pools getting blocks every week, actually more like 20 and unknowns are becoming more common.
To take over bitcoin would require more than 50% of the mining, otherwise it can't be controlled. These days that would cost billions and in a few years it will likely be trillions. Gold on the other hand will have its value wiped out with one not so large rock moved into orbit around the earth. Many other possibilities too. It isn't a question anymore of if it will happen, it is only a question of when it will happen. Likely longer than 20 years but less than 100 years. The age of metals being a store of value is almost over.
53.
Post 51642990 (copy this link) (by dyask) (scraped on 2020-04-04_Sat_16.53h):
Mining on earth (metals) is already controlled by governments. If you want to take over the bitcoin network it would be very expensive.
Gold on the other hand will have its value wiped out with one not so large rock moved into orbit around the earth. The age of metals being a store of value is almost over.
Another scumbag Dyask post full of bullshit lies as usual. Bitcoin devs themselves in the past from Gmaxwell to The Gavinator all seemed to make believe that it was inevitable ASICs would undergo commodification and hinted that Bitcoin would be completely pointless and valueless if they did not. And this is the god damn developers, not fucktard pump and dump scammers like you. Newsflash: they never did and there is absolutely no reason for them to ever. Even Luke Jr refers to ASICs as the equivalent of a pyramid scheme where you buy one and then the ASIC maker uses that money to build ten for himself.
The entire purpose of Bitcoin mining is to attempt to make it an open entropy system. If the door fee to even get into the game is having millions/billions of dollars to design chips and build a state of the art foundry, then Bitcoin mining doesn't even serve a purpose because it's essentially a closed entropy system again run by four companies: TSMC, Global Foundries, Samsung, and Intel. As for metals mining, yes, large companies can use economy of scale or concentration of massive capital to exert advantages over the common man, but Bitcoin mining is a ubiquitous, winner take all pool where a monoply takes everything and metals are not.
If Barrick spends billions on creating state of the machines to mine gold that no other humans or civilizations on the planet can compete with, does that mean they get all the gold in the world? No. They do not get to magically tunnel under your house to steal your minerals. You can get down there with a shovel and get them yourself if you want to, but you can't feasibly mine Bitcon by hand. They would get to leverage their monopoly to steal all the Bitcoins in the world, though; because like I said, Bitcoin is omnipresent and ubiquitous - it's designed to faciliate corporate monpoly while metals are not. As for your jackass claims about "metals having no value because you can find them in space durrr", I already shut you down and made you look like an idiot multiple times with these claims because the cost of production is laughable and not even feasible in the first place.
Wow you really have a serious comprehension issue. Again gold is doomed as a source of value because there is so much of it available. Scarcity of gold is only because of the limits on technologies. The technology is developing and greed will insured that it is used until there is minimal value left in getting more gold. Gold is doomed.
Cyptrocurrency has plenty of risks and it may not have that long of a future, but the Pandora's box has been opened and at least it has a brighter future than something like soon to be a common metal.
54.
Post 51643009 (copy this link) (by dyask) (scraped on 2020-04-04_Sat_16.53h):
Good news-it would mean unbelievable prices ahead (300K-500K)
You braindead, idiot scammers in this thread have NEVER once explained how the price of Bitcoin can go to $500k or even $50k while cost of production is $3-6k. Nobody would ever buy a coin for $500k when they can simply mine one for $3-6k instead. And mining CAN'T expand by an order of magnitude to drag cost of production up or it would use more power than the entire United States. The crypto pump and dump scam seriously is butting up against the limits of the natural world now but that sure doesn't stop you scammers from posting complete bullshit 24 hours a day.
The production cost of bitcoin has been increasing and will continue to increase if the price keeps going up. That is a factor of how much mining there is. Higher prices drives more mining which drives down the reward for mining. When btc is selling for $500k, the cost of producing one bitcoin will like be close to $500k. It is a pretty simple concept.
55.
Post 51643701 (copy this link) (by dyask) (scraped on 2020-04-04_Sat_16.53h):
You think the present day power consumption of Bitcoin can increase by two orders of magnitude? HAHAHAHAHA.
Over time the block rewards will decline and miners will also actually use less power but the cost for the hardware will probably be more of a factor than the cost of power at some point. However when it comes to the amount of power that can be used ... considering that current world's power requirements could be handled with less than 120,000 sq km of solar panels ... at growth of 100x power use for bitcoin over the next 100 years won't be an issue. Like metals, energy is actually in abundance, we just haven't had the technology in place to use it. (120k sq km is about 0.024% of the earth's surface area, I just showing how little of our available power we actually use. Solar is only one technology, fusion based power plants could exist 100 years from now.)
A few years ago I really thought power would be a problem, but then I started doing some computations. Energy isn't the issue, technology and politics are the issues. However since bitcoin depends more on networks than location, politics can be bypassed.
56.
Post 51693712 (copy this link) (by dyask) (scraped on 2020-04-04_Sat_16.54h):
Lovely bit of under boob. I’m 33, as I get older I’m finding myself attracted to Oriental women.
Ha! Clearly you aren't married to one. Mine is just as crazy as she is beautiful. Trust me, you pay dearly for the beauty.
Thankfully she doesn't know about my bitcoin ... there is still hope!
57.
Post 51884323 (copy this link) (by dyask) (scraped on 2020-04-04_Sat_16.56h):
Closing this fraud exchange will be quite bullish for Bitcoin. We might have been at 100K already if Bitmex didn't exist.
Uh no, 100% wrong. Bitcoin in functionality is essentially an energy virus with the amount of energy expended being used in an attempt to create a pseudo price floor. The price always trends downwards to this cost of production floor so for the price of Bitcoin to currently be $100k, the amount of mining and energy used right now would need to be something like 30x higher than it currently is.
I'm not going to bother to calculate how much energy used in sunk cost fallacy that is, but it's probably more than the energy used by every nation on the entire planet combined. Mining capex charts also have the appearance of a thrown baseball at the top of it's arc with nowhere to go but down or sideways at best.
Your fallacy is that you don't understand that the amount of hashing follows price, not the other way around. If bitcoin soars to $100k then you will see large increases in difficultly and more miners jump on board. It is the amount of miners that drives the power consumption and builds the floor. If the price declines below the floor then many miners shutdown or move on. If the price doesn't drop too far the mining will recover to a new lower level.
In general the risk in mining is more in terms of coins produced and less in terms of fiat currencies. If all coins mined are sold the risk is lower but the potential reward is limited. If the coins are held the risk is much higher but the potential rewards are also much higher. It works.
58.
Post 51885091 (copy this link) (by dyask) (scraped on 2020-04-04_Sat_16.56h):
Closing this fraud exchange will be quite bullish for Bitcoin. We might have been at 100K already if Bitmex didn't exist.
Uh no, 100% wrong. Bitcoin in functionality is essentially an energy virus with the amount of energy expended being used in an attempt to create a pseudo price floor. The price always trends downwards to this cost of production floor so for the price of Bitcoin to currently be $100k, the amount of mining and energy used right now would need to be something like 30x higher than it currently is.
I'm not going to bother to calculate how much energy used in sunk cost fallacy that is, but it's probably more than the energy used by every nation on the entire planet combined. Mining capex charts also have the appearance of a thrown baseball at the top of it's arc with nowhere to go but down or sideways at best.
Your fallacy is that you don't understand that the amount of hashing follows price, not the other way around.
You're trying to push a chicken and egg fallacy concerning: who came first, the miner or the speculator? In reality, sometimes miners expand first causing the price to rise, and sometimes speculators artificially rig the price higher trying to scam other people into taking the bait. Also, since Bitcoin mining is designed to centralize and everyone and their mom knows ASICs have been centralized under companies like Bitmain forever, the miner and speculator is USUALLY THE SAME PERSON attempting to defraud everyone else through manipulation their monopoly on supply affords.
And for the 5000th time, if 'stock to flow' worked on something that's not a real resource or commodity, then millions of dead PoW altcoins wouldn't already exist. How did 'stock to flow' work out for you there? Stock to flow only works on resources humans actually need, and nobody needs Bitcoin because it's not the unit of account of anything and not a resource in itself. I'd love for you to write a white paper proving 'stock to flow' is an ironclad law for Bitcoin but not Dogecoin, which is virtually the same thing. The truth is it works for neither because they aren't resources people need or that you're held at gunpoint to utilize by force. 90% of the world can simply say "Fuck you. I'm not using your Jewish cashless society slavery system. I'm using physical metals instead", then hows that 'stock to flow' work out for you?
No I'm not, bitcoin already exists. Chicken or egg doesn't matter.
59.
Post 51889280 (copy this link) (by dyask) (scraped on 2020-04-04_Sat_16.56h):
Some of the most vicious twitter battles I had with anti-Bitcoin nocoiners were with communists. A few of these were trannies who were members of the communist party according to profiles.
Being a communist is pretty natural for trannies. Since anything incapable of reproducing is nothing more than a genetic error as far as natural selection and evolution are concerned, all of these perceived undesirables, dysfunctional people, genetic errors, and what have you, attempt to forcibly legislate their existence to having some type of validty or meaning when it doesn't. It's complete insanity to allow them to do so since it's the equivalent of advocating some form of reverse evolution and the collapse of humanity.
The Spartans supposedly just tossed their genetic errors and undesirables out in the woods to die or whatever to prevent the whole from becoming too weak. It sounds harsh, but allowing massive amounts of undesirables to reproduce just means they're going to form a giant coalition/army that will have to be dealt with by somewhat functional human, right wing deathsquads anyway someday. In other words, having zero natural selection criteria doesn't seem to work.
The Jews - being inbred, dysfunctional, neurotic, degenerate subhumans themselves - attempt to form a coalition with other subhumans in order to attempt to kill off functional members of humanity and a society they're incapable of fitting into. It's the scorched earth policy. Lesbians want to fill the role of men but can't and can never fit into civilization due to being genetic errors so instead of putting themselves out of their misery, they attempt to destroy the world and screw over everyone else out of spite. But no-coiners are people who have no physical gold and silver. The "coin" in Bitcoin doesn't even exist. They're imaginary, valueless timestamps.
Funny you have described yourself: "genetic error" & "inbred, dysfunctional, neurotic, degenerate subhuman" ... at least that is what you sound like.
60.
Post 52114611 (copy this link) (by dyask) (scraped on 2020-04-04_Sat_16.58h):
Huh? So you are trying to say altcoins have all the growth potential and Bitcoin is headed for an early grave?
61.
Post 52114674 (copy this link) (by dyask) (scraped on 2020-04-04_Sat_16.58h):
Well silver has turned out to be a pretty crappy investment. When adjusted for inflation it is worth less now than its value 50 years ago. Way less. Not a hedge at all. (Silver is about 1/8th the value now as it was in 1979)
62.
Post 52114686 (copy this link) (by dyask) (scraped on 2020-04-04_Sat_16.58h):
Huh? So you are trying to say altcoins have all the growth potential and Bitcoin is headed for an early grave?
i am a mountainbiker. bitcoin and shitcoins are NOT on the same bike. eventhough i like the idea of this meme, while btc might as well be on a bike, alts are ants trying to cross a 1 mile wide scotch tape.
My point is there is a lot of ways to take that image and many of them aren't positive for Bitcoin.
63.
Post 52230320 (copy this link) (by dyask) (scraped on 2020-04-04_Sat_16.59h):
Dear Bitcoin,
Please stop acting like a bullshit.
When I put you to bed last night you were above 10,000.
I needed you to stay there as I made the decision not to convert you to cash that I need for today.
Then you fell out of the crib, and its gonna cost me about a thousand pesos that I could have really used.
If you could once again go above 10k in the next couple hours that would be just great.
Thanks,
Bye.
If you needed the money so quickly you shouldn't had it in Bitcoin. Hope you learned something here.
64.
Post 52231816 (copy this link) (by dyask) (scraped on 2020-04-04_Sat_16.59h):
Mining on earth (metals) is already controlled by governments. If you want to take over the bitcoin network it would be very expensive.
Gold on the other hand will have its value wiped out with one not so large rock moved into orbit around the earth. The age of metals being a store of value is almost over.
Another scumbag Dyask post full of bullshit lies as usual. ...
So I'm a scumbag because I can think for myself rather than follow your babble? About time you start learning a bit about what is going on. The prize is too great, it is just a matter of time before a corporation makes trillions from mining in space and totally changes the value of metals on earth. When gold is as common as iron is today what do you think the value will be?
Even going back over the last 50 years, gold and silver have been rotten investments. Basically holding those metals is hoping for an end of the world type event. You'll be lucky if that happens and you are alive. More likely you'll be dead. Still a rotten investment!
Since fiat currency is no longer tied to gold ... money is nothing but numbers. Pretty much the same as Bitcoin. I think bitcoin has a lot better chance of having value decades down the road as compared to gold.
65.
Post 52383320 (copy this link) (by dyask) (scraped on 2020-04-04_Sat_17.01h):
Observing.....................to little, to low prices......
Cumming Bull
Observing $10,313.90
Mooooo...
Bad here @Icygreen Bhai milk is out this bat
BTC wrong guy here
Not cool bro, we have a mixed bag of posters here from young to old. Every age group loves and enjoy nudity here, but there is a limit to everything. Please respect that boundary and don't turn this thread into a porn site.
Some might be okay with this, but many will not because you are a new poster. You already got a red tag for BCH's post which I don't agree, but you are not helping your case either.
PS : Not bashing you just letting you know.
Hmmm, seems like there are quite a few posters here that treat this thread like a porn site. Anyway I've seen far worse from cows as they are overall pretty stupid. Anyone that is sexually stimulated by pictures of cows has a whole different issue. Can we get back to Bitcoin now or has that been banned on this thread?
66.
Post 52383902 (copy this link) (by dyask) (scraped on 2020-04-04_Sat_17.01h):
It sounds about as reliable as saying bitcoin has no value because it isn't tied to gold.
67.
Post 52687366 (copy this link) (by dyask) (scraped on 2020-04-04_Sat_17.04h):
great! it sounds like a not so easy system for real pros. but what the hell do you mean with SOMA. I just asked before but probably you didn't read it.
Sorry Gyrsur, didn't notice. It's an inside game for WO-ers...
Straight
Outta
My
Ass.
Meaning, I'm not that good at TA - mainly because I don't put a lot of faith in it. I do have hunches, but they're wrong half of the time. So I plan for both scenarios. If I smell storms, I chicken out. When I think there's a decent chance to make a little profit one way or another, I put my big toe in the water. If it feels OK, I get knee deep. And so on. I never denied it does take a little work. What matters with me is that I can do it with a cool, detached head, without impulse "recovery" trades that would drag me in the abyss. Admittedly, cool comes easier once you manage to sit on a profit buffer AND you only stake all games with the same fixed amount, stashing away the excess into cold storage, with some sensible schedule you find works for you.
I'm pretty sure TA is short for SOMA.
68.
Post 52760969 (copy this link) (by dyask) (scraped on 2020-04-04_Sat_17.04h):
Had a lovely talk with a chap in a supermarket who said his doctor had told him to go keto. Is there any scientific research on the keto diet?
He said this was for his week's food, not yet finished, but he gets his steaks from a proper butcher.
So much processed meats! I don't think that is keto at all, more like a typical American diet.
EDIT: Getting into ketosis is easy, just don't eat for a few days. It is a natural thing that happens where the body switches over to burning stored fats. Just don't do it too long, because once the stored fats get too low the body has to turn to burning proteins which leads to death in a few weeks. So most of us should stop eating for more than six or seven months.
69.
Post 52879967 (copy this link) (by dyask) (scraped on 2020-04-04_Sat_17.05h):
So many pants have been peed in ... smells bad!
70.
Post 52889449 (copy this link) (by dyask) (scraped on 2020-04-04_Sat_17.05h):
My writings can be misread especially when I write after a few drinks on a Saturday
I would be drinking too if my life savings was stored in imaginary, valueless timestamps.
The value of silver and gold is also imaginary. Pretty much true for all forms of money unless you can eat it or at least use it to clean yourself!
71.
Post 52911046 (copy this link) (by dyask) (scraped on 2020-04-04_Sat_17.06h):
China says they want to use "blockchain" to build the world's ultimate social credit score, cashless society slavery system dystopia and of course shitcoiners in this thread somehow think that's good news and that they've made the right choice in supporting imaginary, valueless, digital slavery systems instead of physical metals. Meanwhile, the kikes in the US are attempting to force people to get implanted with blockchain based, dystopian, mark of the beast chips straight out of the bible:
https://www.zerohedge.com/health/big-brother-meets-big-pharma-harvesting-biometrics-everyoneBoth China and the kikes can go fuck themselves because like every other sane person on the planet I'll be using physical metals instead and refusing to touch any of this bullshit.
Well I can go swimming with all my BTC, try to do that with all your metal. Actually you might succeed because you are probably only worth a few grams of gold. If you had any real wealth we wouldn't be hearing much from you.
72.
Post 52924116 (copy this link) (by dyask) (scraped on 2020-04-04_Sat_17.06h):
Please do not let this get out but if there is anything I fear as a capitalist, libertarian, anti government free radical is the possibility of all of the liberals and governments buying all of my bitcoins.
I wake up nightly fearing that this may happen. What if they get all of the bitcoin? Then we are all doomed and you all know it. Fiat will win. Game over.
Do not let "them" know this dark secret. It would devastate us all and they would walk away the victors. At that point I would surely need to admit that communism is the best and Karl Marx is a genius.
Governments attempting to buy all of the bitcoins remains the wetdream for anyone holding bitcoins.
There is no way that they can buy all of the bitcoins, and it would just cause the BTC price to go up exponentially and in an out of control manner.
When I have been reading about the supposed fears of the government buying all of the bitcoin as some kind of supposed meaningful threat vector, I just consider it as a kind of weak attempt at reverse psychology.
Governments are not going to buy anything that they can reasonably attempt to steal from us. So in that regard, each of us has a responsibility to take meaningful attempts at protecting both privacy and fungibility so that they do not rob us from our bitcoins in any kind of meaningful or systematic way
I agree with this but on the flip side, if Governments dont buy up Bitcoin then they can end up severely behind if other countries decided to do so.
All it will take is one country to decide that they are going to buy up all the bitcoin they possibly can, and just inflate their own currency to no end to accumulate Bitcoin.
Well, surely game theory suggests that countries will begin to do this at some point. It is just a matter of when and likely to be on the downlow.
Secretly buying up as many bitcoin as feasible and buying
ALL of the bitcoin are two vastly differing scenarios.
This will force other countries to do the same.
Of course. Game theory suggests this is quite likely to happen. It's just a matter of when
(and likely also a matter of bitcoin not breaking).
Now the first country to do it will be holding a lot of Bitcoin which will be a real threat to any other country who isn't accumulating Bitcoin. This first country could also then sell its Bitcoin to the other countries for their currency and could potentially enrich themselves by holding both Bitcoin and other fiat at a gain.
Agreed. All likely to happen.
This is why you must hold on for dear life, pat yourself on the back that you are investing in this perceived "risky" asset when the rest of the world is scared to do so.
Oh yeah, for sure. We are all likely way the fuck early to the game and we have been accumulating at relatively low prices, and that is part of the reason why there is NO real need for any of us to engage in irresponsible behavior by attempting to act too greedy and to put our own lil selfies in financial difficulties because we have over-leveraged into bitcoin.
In other words, bitcoin seems to remain to be such an asymmetrical bet that none of us have to kill our lil selfies in the way that we invest in order to profit stupendously on a personal level from our having had invested in bitcoin and continue to invest in bitcoin at whatever level is feasible and prudent for ourselves. In other words, mere normal, prudent and perhaps slightly aggressive (without gambling too much) levels of investment into bitcoin will likely pay off with considerable riches.
We are so lucky, Bitcoin is the endgame for all value, it is the black hole; fiat currencies have no chance against it and fiat will only be bitcoin rocket fuel. The more fiat that gets printed, the higher Bitcoin will continue to go.
No argument or elaboration from me there, except just acknowledging: Well said.
I truly believe we will reach a point where ALL governments in the world will be printing off endless amounts of fiat in order to buy as much Bitcoin.......but guess what? at that point we will all know that Fiat is 100% dead (dead as in it will be a never ending hyper inflation, and all of the people of the world will finally realize that Fiat is just something that loses value, while Bitcoin will just gain value as more fiat is printed) and no one will be selling their Bitcoin for Fiat, it would be beyond stupid because the Bitcoin you sell for Fiat, might lost half of its value the next day if the government decided to print (Digitally print) off trillions more, which will push Bitcoin up to millions of dollars (5-50 million dollars). Perhaps A zillion dollar marketcap, and no im not saying this because I am delusional, I just think Bitcoin is the black hole and governments will end up printing off trillions upon trillions to get more Bitcoin, but people are not going to convert back, and of course at this point being a millionaire wont be anything special.
I would say at this point, if you hold at least .2 Bitcoin for the rest of your life, you will be living an easy life. Keep in mind to, when this does go down, governments useless fiat wont be able to pay anyone to go pursue people who have Bitcoin. No police officer, or government worker is going to want to get paid in fiat, they will want Bitcoin, which the government wont have enough of to even hold things together let alone go after Bitcoin HODLers (Arrest, confiscate, etc).
It didn't happen with gold, it won't happen with BTC. Governments might buy a chunk of BTC, but they won't create out of control fiat inflation to do so.
73.
Post 52926193 (copy this link) (by dyask) (scraped on 2020-04-04_Sat_17.06h):
Please do not let this get out but if there is anything I fear as a capitalist, libertarian, anti government free radical is the possibility of all of the liberals and governments buying all of my bitcoins.
I wake up nightly fearing that this may happen. What if they get all of the bitcoin? Then we are all doomed and you all know it. Fiat will win. Game over.
Do not let "them" know this dark secret. It would devastate us all and they would walk away the victors. At that point I would surely need to admit that communism is the best and Karl Marx is a genius.
Governments attempting to buy all of the bitcoins remains the wetdream for anyone holding bitcoins.
There is no way that they can buy all of the bitcoins, and it would just cause the BTC price to go up exponentially and in an out of control manner.
When I have been reading about the supposed fears of the government buying all of the bitcoin as some kind of supposed meaningful threat vector, I just consider it as a kind of weak attempt at reverse psychology.
Governments are not going to buy anything that they can reasonably attempt to steal from us. So in that regard, each of us has a responsibility to take meaningful attempts at protecting both privacy and fungibility so that they do not rob us from our bitcoins in any kind of meaningful or systematic way
I agree with this but on the flip side, if Governments dont buy up Bitcoin then they can end up severely behind if other countries decided to do so.
All it will take is one country to decide that they are going to buy up all the bitcoin they possibly can, and just inflate their own currency to no end to accumulate Bitcoin.
Well, surely game theory suggests that countries will begin to do this at some point. It is just a matter of when and likely to be on the downlow.
Secretly buying up as many bitcoin as feasible and buying
ALL of the bitcoin are two vastly differing scenarios.
This will force other countries to do the same.
Of course. Game theory suggests this is quite likely to happen. It's just a matter of when
(and likely also a matter of bitcoin not breaking).
Now the first country to do it will be holding a lot of Bitcoin which will be a real threat to any other country who isn't accumulating Bitcoin. This first country could also then sell its Bitcoin to the other countries for their currency and could potentially enrich themselves by holding both Bitcoin and other fiat at a gain.
Agreed. All likely to happen.
This is why you must hold on for dear life, pat yourself on the back that you are investing in this perceived "risky" asset when the rest of the world is scared to do so.
Oh yeah, for sure. We are all likely way the fuck early to the game and we have been accumulating at relatively low prices, and that is part of the reason why there is NO real need for any of us to engage in irresponsible behavior by attempting to act too greedy and to put our own lil selfies in financial difficulties because we have over-leveraged into bitcoin.
In other words, bitcoin seems to remain to be such an asymmetrical bet that none of us have to kill our lil selfies in the way that we invest in order to profit stupendously on a personal level from our having had invested in bitcoin and continue to invest in bitcoin at whatever level is feasible and prudent for ourselves. In other words, mere normal, prudent and perhaps slightly aggressive (without gambling too much) levels of investment into bitcoin will likely pay off with considerable riches.
We are so lucky, Bitcoin is the endgame for all value, it is the black hole; fiat currencies have no chance against it and fiat will only be bitcoin rocket fuel. The more fiat that gets printed, the higher Bitcoin will continue to go.
No argument or elaboration from me there, except just acknowledging: Well said.
I truly believe we will reach a point where ALL governments in the world will be printing off endless amounts of fiat in order to buy as much Bitcoin.......but guess what? at that point we will all know that Fiat is 100% dead (dead as in it will be a never ending hyper inflation, and all of the people of the world will finally realize that Fiat is just something that loses value, while Bitcoin will just gain value as more fiat is printed) and no one will be selling their Bitcoin for Fiat, it would be beyond stupid because the Bitcoin you sell for Fiat, might lost half of its value the next day if the government decided to print (Digitally print) off trillions more, which will push Bitcoin up to millions of dollars (5-50 million dollars). Perhaps A zillion dollar marketcap, and no im not saying this because I am delusional, I just think Bitcoin is the black hole and governments will end up printing off trillions upon trillions to get more Bitcoin, but people are not going to convert back, and of course at this point being a millionaire wont be anything special.
I would say at this point, if you hold at least .2 Bitcoin for the rest of your life, you will be living an easy life. Keep in mind to, when this does go down, governments useless fiat wont be able to pay anyone to go pursue people who have Bitcoin. No police officer, or government worker is going to want to get paid in fiat, they will want Bitcoin, which the government wont have enough of to even hold things together let alone go after Bitcoin HODLers (Arrest, confiscate, etc).
It didn't happen with gold, it won't happen with BTC. Governments might buy a chunk of BTC, but they won't create out of control fiat inflation to do so.
Thats because Gold can't be used as money (they tried and it ultimately didnt work), Bitcoin can. Gold will never be a threat to Fiat, Bitcoin is a direct treat to Fiat.
I can send Bitcoin to anyone in the world immediately, Gold cannot replicate that, ever. Just my opinion.
While I don't believe that gold has a long term future as a store of value, it really silly to claim that gold can't be used as money. It has been used for for money for thousands of years and even now it is easy to trade for any currency, it currently has value. There are forms of gold that are traded a lot faster than BTC can be transferred. While it is possible to seen bitcoin to anyone if they have the correct tools to access it and are set up for it, the transfer is far from immediate. Typically faster than a wire transfer but rarely less than an hour to get picked up by the network and get the six confirmations. Much better than a couple years ago, but not immediate.
Bitcoin isn't really even a threat to fiat currency. However in many cases it will probably be a better store of value than fiat.
74.
Post 52947678 (copy this link) (by dyask) (scraped on 2020-04-04_Sat_17.06h):
There are trillions of tons of gold just waiting for to figure out how to get it. Actually trillions of trillions of trillions of tons but most of that is more than a light year away from us.
BTC is limited, on the other hand altcoins are not.
75.
Post 52985898 (copy this link) (by dyask) (scraped on 2020-04-04_Sat_17.06h):
At the risk of invoking our resident repellant resistant insect, Germany is the cauldron of European civilization.
Just try swimming with your precious metals ...
