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Anybody: Bitcoin/Crypto?

By CJS following x   2018 Apr 5, 12:28pm 6,116 views   332 comments   watch   nsfw   quote     share    


I'm heavy into the crypto game this year is any else?

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293   Newbie123   ignore (0)   2019 Jul 17, 10:10am   ↑ like (0)   ↓ dislike (0)   quote   flag        

https://finance.yahoo.com/amphtml/news/congressmen-bitcoin-unstoppable-libra-not-160423528.html

“Congressman: bitcoin is unstoppable”

I agree, how do you stop a decentralized cryptocurrency? The only way would be to shut down the internet.....as if that will happen anytime soon. :)
294   FortWayneIndiana   ignore (4)   2019 Jul 17, 10:45am   ↑ like (0)   ↓ dislike (0)   quote   flag        

Newbie123 says


;)


Not the same.

Dollar is backed by full faith and credit of the entire country. Bitcoin is made up thing that contributes to global warming and is backed by nothing.

So yeah, besides didn't you lose your 20k already.
295   Newbie123   ignore (0)   2019 Jul 17, 11:15am   ↑ like (0)   ↓ dislike (0)   quote   flag        

“Dollar is backed by full faith” - exactly!

“Didn’t you lose your 20k already”
Sry, what do you mean by this?
296   Onvacation   ignore (4)   2019 Jul 17, 1:20pm   ↑ like (0)   ↓ dislike (0)   quote   flag        

Newbie123 says
decentralized cryptocurrency?

Bitcoin has hornswoggled a lot of people. They call it "digital gold" that has to be "mined". It takes up a lot of resources to "create" and you end up with a passkey on a flash drive.

They call it a currency but it costs fees to use. It's price fluctuates so wildly that it is hard to calculate exchange rates. And it is slow compared to REAL currency or credit cards.

Some people are making money from the fools who are "investing" and "HODL". I suspect they (the fools) will still be holding after it has become clear to most people that there is no real value in a collection of 0s and 1s that need vast amounts of computing power to maintain while not working as a currency.
297   Newbie123   ignore (0)   2019 Jul 17, 1:37pm   ↑ like (0)   ↓ dislike (0)   quote   flag        

I do agree, I wouldn’t use bitcoin at the moment for day to day purchases. I hold bitcoin and don’t sell as I expect the price to go parabolic.
298   Onvacation   ignore (4)   2019 Jul 17, 1:57pm   ↑ like (2)   ↓ dislike (0)   quote   flag        

Newbie123 says
I expect the price to go parabolic.

Me too.
299   Newbie123   ignore (0)   2019 Jul 17, 2:03pm   ↑ like (0)   ↓ dislike (0)   quote   flag        

Exactly! All you need to do is flip it over :)
300   WookieMan   ignore (3)   2019 Jul 17, 3:53pm   ↑ like (0)   ↓ dislike (0)   quote   flag        

Newbie123 says
https://finance.yahoo.com/amphtml/news/congressmen-bitcoin-unstoppable-libra-not-160423528.html

“Congressman: bitcoin is unstoppable”

I agree, how do you stop a decentralized cryptocurrency? The only way would be to shut down the internet.....as if that will happen anytime soon. :)


51% attack. Explain HOW it CANNOT happen?
302   Newbie123   ignore (0)   2019 Jul 17, 5:39pm   ↑ like (0)   ↓ dislike (0)   quote   flag        

How many other assets can show a parabolic bull run like bitcoin?


Can’t beat it, can’t destroy it, can’t even send a letter for a hearing invitation. It’s here to stay and will likely continue its parabolic bull run.
303   WookieMan   ignore (3)   2019 Jul 17, 7:29pm   ↑ like (0)   ↓ dislike (0)   quote   flag        

WookieMan says
Newbie123 says
https://finance.yahoo.com/amphtml/news/congressmen-bitcoin-unstoppable-libra-not-160423528.html

“Congressman: bitcoin is unstoppable”

I agree, how do you stop a decentralized cryptocurrency? The only way would be to shut down the internet.....as if that will happen anytime soon. :)


51% attack. Explain HOW it CANNOT happen?
304   Newbie123   ignore (0)   2019 Jul 17, 8:15pm   ↑ like (0)   ↓ dislike (0)   quote   flag        

I am watching the entire hearing on Libra and Calibra. My bet is they will succeed and establish Libra/Calibra which is incredible bullish for crypto currencies.
305   Newbie123   ignore (0)   2019 Jul 18, 8:22am   ↑ like (0)   ↓ dislike (0)   quote   flag        

This is probably educational for nocoiners/bitcoin haters



It outlines the benefits and features of bitcoin.
306   Onvacation   ignore (4)   2019 Jul 18, 9:50am   ↑ like (0)   ↓ dislike (0)   quote   flag        

Newbie123 says
benefits and features of bitcoin.

She said libra is not crypto. I agree.
307   Newbie123   ignore (0)   2019 Jul 18, 9:54am   ↑ like (0)   ↓ dislike (0)   quote   flag        

I am glad you watched it. You really seem very interested in the space and the crypto developments. Great! Yes, I agree as well. She outlined how Libra and bitcoin are different.
308   Onvacation   ignore (4)   2019 Jul 18, 9:57am   ↑ like (0)   ↓ dislike (0)   quote   flag        

Newbie123 says
You really seem very interested in the space and the crypto developments.

I enjoy a good trainwreck.
309   Newbie123   ignore (0)   2019 Jul 18, 9:59am   ↑ like (0)   ↓ dislike (0)   quote   flag        

Does that mean you think bitcoin is going to zero? What’s your timeframe? I don’t expect you to answer the questions. You never do.

Here something interesting:
“There was $2 trillion of US dollars laundered last year.

That is more than 6.5X the entire crypto market cap”
310   Onvacation   ignore (4)   2019 Jul 18, 10:03am   ↑ like (0)   ↓ dislike (0)   quote   flag        

Newbie123 says
Does that mean you think bitcoin is going to zero?

No. Like I said before, some people will hold bitcoin no matter what. Ever hear the term HODL?Newbie123 says
I don’t expect you to answer the questions. You never do.
311   Newbie123   ignore (0)   2019 Jul 18, 10:05am   ↑ like (0)   ↓ dislike (0)   quote   flag        

Onvacation,
So, you define it as a train wreck but you don’t think it will go to zero? So if it goes to 50k it’s still a train wreck for you? Are you sure train wreck is the right term for it then?

Don’t bother answering the question. I know you won’t.
312   Onvacation   ignore (4)   2019 Jul 18, 10:08am   ↑ like (0)   ↓ dislike (0)   quote   flag        

Newbie123 says
So, you define it as a train wreck but you don’t think it will go to zero?

Bitcoin has no intrinsic value and little extrinsic value beyond laundering money. The fanboys won't let it go to zero. There are still people holding out for $10k for their "rare" beeny baby.
313   Onvacation   ignore (4)   2019 Jul 18, 10:12am   ↑ like (0)   ↓ dislike (0)   quote   flag        

Newbie123 says
Are you sure train wreck is the right term for it then?

No.
It is a well thought out scam. They got the lingo associating it to gold. They set up artificial scarcity over decades.

Ultimately what is bitcoin but a string of 0s and 1s?
314   Newbie123   ignore (0)   2019 Jul 18, 10:14am   ↑ like (0)   ↓ dislike (0)   quote   flag        

So you enjoy a train wreck that you don’t expect to go to zero.
Thats enjoyable for me to know this,
while watching the price to go higher. It sounds like it must bother you when bitcoin prices go up over time?

What do you invest in?

I bet you won’t answer that question.
315   Onvacation   ignore (4)   2019 Jul 18, 10:16am   ↑ like (0)   ↓ dislike (0)   quote   flag        

Newbie123 says
What do you invest in?

Mutual funds, silver, and rare coins ( more of a hobby).
How much do you have in bitcoin?
316   Onvacation   ignore (4)   2019 Jul 18, 10:18am   ↑ like (0)   ↓ dislike (0)   quote   flag        

Onvacation says
How much do you have in bitcoin?

In dollars or satoshis?
317   Newbie123   ignore (0)   2019 Jul 18, 10:32am   ↑ like (0)   ↓ dislike (0)   quote   flag        

There we go! Silver and rare coins! You would love bitcoin then (once you understand it).

If it’s a scam (it was a train wreck briefly) then who is behind it, defrauding people? Don’t you need a scammer behind it for it to be a scam?

And why did nobody mention that it’s a scam in the congressional hearing?
318   Onvacation   ignore (4)   2019 Jul 18, 10:36am   ↑ like (0)   ↓ dislike (0)   quote   flag        

Onvacation says
Onvacation says
How much do you have in bitcoin?

In dollars or satoshis?
319   Newbie123   ignore (0)   2019 Jul 18, 10:50am   ↑ like (0)   ↓ dislike (0)   quote   flag        

Won’t answer as there is no good reason/benefit in doing so. You can ask 50times a day. What I would do is provide a screenshot of my alts when I sell them. I have told nobody where I have the hardware wallets and how much BTC I have. Do you think I openly share this on the inet?
320   Newbie123   ignore (0)   2019 Jul 18, 10:50am   ↑ like (0)   ↓ dislike (0)   quote   flag        

No answer on the scam question? How can it be a scam if nobody is actually scamming others?
321   Newbie123   ignore (0)   2019 Jul 18, 11:05am   ↑ like (0)   ↓ dislike (0)   quote   flag        

It’s easy to call something a scam. But it’s not easy to prove that there is a scammer behind it.
Let’s see if he ever answers the question. My bet is he will just switch and say, it’s a Ponzi scheme. Without mentioning who is at the top of the ponzi.
It was briefly a trainwreck, earlier today.

If that’s the best you bitcoin haters can do....
323   Onvacation   ignore (4)   2019 Jul 18, 3:11pm   ↑ like (0)   ↓ dislike (0)   quote   flag        

Newbie123 says
How can it be a scam if nobody is actually scamming others?

If you don't know who's getting scammed it might be you and the HODLers
324   CBOEtrader   ignore (5)   2019 Jul 18, 3:29pm   ↑ like (0)   ↓ dislike (0)   quote   flag        

Why are you still engaging? I blocked that oddball . His input is useless
325   Newbie123   ignore (0)   2019 Jul 18, 4:07pm   ↑ like (0)   ↓ dislike (0)   quote   flag        

I love your sense of humor.

So, let’s figure this scam out together. Me, as a bitcoin buyer, I am the one getting scammed along with all HODL’ers. The scammer is the seller (and all other sellers) who sells it to me (and the HODL’ers). So when I sell, I become the scammer? Is that the story here?
326   Newbie123   ignore (0)   2019 Jul 18, 4:11pm   ↑ like (0)   ↓ dislike (0)   quote   flag        

I think you are right CBOtrader, I’ll set him on ignore and the wookie.
327   WookieMan   ignore (3)   2019 Jul 18, 6:05pm   ↑ like (0)   ↓ dislike (0)   quote   flag        

Newbie123 says
I think you are right CBOtrader, I’ll set him on ignore and the wookie.


Awwww, can’t handle the truth. Good call in December of ‘17. Solution, ignore someone. lol.

Take the time man, I’ve got wrong shit I’ve posted on this site. Cool part is I’m a man and can admit when I’m wrong. (You can log back in now - lol)
328   HonkpilledMaster   ignore (5)   2019 Jul 18, 6:21pm   ↑ like (0)   ↓ dislike (0)   quote   flag        

Onvacation says
They call it a currency but it costs fees to use. It's price fluctuates so wildly that it is hard to calculate exchange rates. And it is slow compared to REAL currency or credit cards.


The transaction costs are obscene. Nor is it immune to government intervention/seizure or, increasingly, hackers:
https://www.theguardian.com/technology/2019/jul/12/tokyo-cryptocurrency-exchange-hack-bitpoint-bitcoin

And this wasn't the first multi-million hack of crypto.
329   Newbie123   ignore (0)   2019 Jul 18, 6:57pm   ↑ like (0)   ↓ dislike (0)   quote   flag        

Honkpilled,
Transaction costs are very low. For certain cryptos it’s near zero. Did you not listen to David Marcus talking about Libra at the congressional hearing? Libra for instance will be free peer to peer and very low cost otherwise.or look at xrp. you can transact xrp at nearly zero cost.

As far as security goes, yes there are exchange hacks. You would be silly to keep your crypto funds on an exchange. You simply hold your crypto on a hardware wallet. If you keep your private keys on a hardware wallet nobody can seize it or hack into it (its a cold storage/offline).

Governments can’t do anything against bitcoin. You heard the congressmen (or not) / it was mentioned several times. Bitcoin is fully decentralized. No chance to bring the network down. It’s brilliant. Why do you think bitcoin ran without interruption for ten years?
330   Newbie123   ignore (0)   2019 Jul 19, 7:17pm   ↑ like (0)   ↓ dislike (0)   quote   flag        

https://www.ccn.com/news/bitcoin-futures-exchange-bakkt-readies-late-second-quarter-launch/2019/07/19/%3famp

Bakkt is supposedly starting this quarter!

“Bakkt could be a huge catalyst for institutional participation in the crypto market.”

“Bakkt hosted an institutional summit this week at the NYSE, whose parent company ICE is behind the bitcoin futures exchange. Based on the anecdotes from that event, things are looking quite bullish for bitcoin in the latter part of this year.”
331   Newbie123   ignore (0)   2019 Jul 20, 9:03am   ↑ like (0)   ↓ dislike (0)   quote   flag        

Fidelity/Crypto


“If its application is successful, Fidelity Digital Assets (FDAS) would be cleared to add New York to the handful of states in which it currently operates its custody business for digital assets.”


https://www.theblockcrypto.com/2019/07/20/fidelitys-crypto-arm-has-officially-applied-to-operate-in-new-york-as-a-trust/

“Fidelity Digital Assets also now joins the likes of ICE’s pending crypto platform, Bakkt, which has also applied for a NY trust license to be a qualified custodian to store the bitcoin underpinning its futures contract. ”
332   Newbie123   ignore (0)   2019 Jul 21, 4:07pm   ↑ like (0)   ↓ dislike (0)   quote   flag        

They could have given their rectum a break if they would have bought bitcoin instead. Gold can be a pain in the butt.

https://www.google.com/amp/s/m.timesofindia.com/city/visakhapatnam/4-hide-gold-in-rectum-held-at-city-airport/amp_articleshow/69881098.cms

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