Same thing about quantum computing we've been discussing for at least 3 years now. Again, do your own research before you start panicking about sha 256 not being enough to protect your investment.

People keep talking about quantum computers but there's actually no proof of their ability to break existing banking encryption. What's there to stop these scientists from breaking into the federal reserve just to show they can? I think we'll hear about real uses of quantum computing long before someone teaches these computers how to break bitcoin's encryption.

You can check out the significance of that move by looking at the chart here: https://www.blockchain.com/charts/hash-rate

You can see there was not much of a downfall before January 2021. The hash rate kept going up to reach an all time high this May . It's rather the price trend that's affecting the mining business. The more valuable Bitcoin is, the more profitable it is to mine it. You can see that there was a sharp drop this month when Bitcoin took a dive and we went below the level of miner capitulation. It's like they started to shut down some of the least profitable equipment when they went too much into the red.

Governments overreacted and showed that they have no idea what to do in case of emergency. There was actually very little deaths compared to the measures they took to prevent them like full lockdowns in China where people were starving and couldn't go out to get food, despite being healthy. They were blindly putting people in house arrests when a few sick popped out in the area.
All countries that did these lockdowns are now suffering from first signs of stagflation. On top of that we got that idiot Putin murdering people and destroying food to starve Ukraine. He couldn't have chosen a worse moment.

For me it was always more painful when Bitcoin pumped because I could remember all the money that I've wasted and kept thinking about the things I'd be able to buy now that I'd have 5 times more without having to take the risk. It's actually amazing how much every small move that we make can affect our future, like the decision to roll the dice. You think you're winning or losing $1000 but you could in 10 years see that at that time you were winning or losing a million.

Your tips are pretty good OP and well known by people who are fighting addiction for some time. I feel like the most important part is not to be alone with it. Have people who are trying to help you, watch you, support you while you're fighting it. It's even better if you have a friend who is a former addict that made it through. A bit of strong will wouldn't be a bad thing either.
My mother was a smoker and she had a friend who was also trying to quit and they managed to do it together by watching each other. Each of them did not want to be the weaker one who breaks first so none of them did. They made it into a competition and it worked.

I agree that 1k would be a disaster. If any of you think 1k would be an opportunity, tell me at which level a stock is considered as dying. At -80%? 90%? 99%? There has to be a point at which people would say no, I'm not buying this shit that's in a constant downtrend. For most people a stock has to deliver to be an opportunity. Something that gains 200% and loses 80% of it in the bear market delivers. A stock that gains 200% and then loses more than it gained in the last 2 years becomes too risky.


If bitcoin went to 1k right now I'd start asking myself what's wrong with it that it wiped out the 2017 bull market. What's wrong that it's lower than it was in the covid crash.

Forming a lower low than 3k would make people run away from bitcoin because something would have to be fundamentally wrong for it to happen 1.5 halvings later.
Also, we are already below mining profitability, which is why went through that 20-17K crash. That was miner capitulation. The same thing happened in 2018 when we fell below 5k.

I wouldn't expect it to go down slower than that, but we're talking about 20-60k. Dropping that fast below 20k is a bit disappointing.

You say we are in the middle of a bear market after dropping over 70% from the ATH? Damn, that's too bearish even for me.

Bear markets don't scare me but they always make me lose interest. Last time we were in that state there was so much panic in the media that I took a break for a few months from all of it, even from the forum. It's just the way people are. They were buying bitcoin for 50 and 60k and now are selling it at a loss for a fraction of the fiat money.
It's not bitcoin's fault at all, it's in our nature to be destructive and counterproductive.

We are joking with a friend of mine that he bought the most expensive SSD in the world. It was in 2016 and his old drive gave up and we wanted to play some online shooter, or something and he spend somewhere around 0.5BTC for one. He had some BTC left and in 2021 he bought himself a new motorcycle that costed less than that SSD a few years back.

At times like this I wonder what I'd do if I were ever to see bitcoin at the level at which I bought for the first time. It would be a scary thing for sure, so I understand all those people who sell when the price hits their level. Imagine buying at 20k, waiting almost 2 years and seeing it again at 19k. Would you buy more or sell and exit the market?

It's especially hard to predict because the markets are illiquid. I've watched a number of smart people talking about it on various podcasts.

Compare this to stocks where let's say you have a local shipping company and the company trades on the main exchange in the country. The company puts x amount for sale, like 50% and that's all available at the exchange either held by investors, ready to be sold, or already in the form of orders. With Bitcoin it's completely different as there are hundreds of exchanges that trade bitcoin all around the world and only a few of them are connected to these big tickers that make people try to catch up to what binance, bitfinex, coinbase and few others are doing.
Also over 70% of all coins are out of exchanges, so the price is based on trades of a fraction of the whole. If you want to participate you have to send money to an exchange and get it added to the balance of your account which can take hours or even days when it comes to small exchanges.

Then there's miners who constantly put pressure on the market selling coins, so when a traditional company can have the ratio of buyers to sellers at 50% to stay at the same point, bitcoin needs buyers to dominate just so it can stay at the same point.
When drops scare off investors, just like it happened when we dropped below the 2021 low, the pressure put by miners keeps dragging us down and it's going to continue until someone steps in and buys enough coins for the market to turn around.

It's all based on belief that the bear market is over and we are going to go up, that's all. There's nothing wrong with bitcoin, but nobody wants to touch it for some reason. People are waiting for a sign of strength, but there will be no such thing until they, themselves start showing strength.

Never leave at a loss. Never give up, never accept defeat, like that knight from Monty Python.  
https://www.youtube.com/watch?v=ZmInkxbvlCs

For me it's just another day. Idiots dumping in panic despite it being 70% from the top and them being down on their investment after holding for a year and refusing to sell at much higher levels.
It always baffles me how people can hold being at 50% loss, 60, 70 and then they hit a point like -78% and they say no more, I'm out! Like those who were selling Luna at 99% loss. What does it matter if you get $10 from your 1k investment or not? What are you going to buy with it? A rope?

If only people were able to think in these hard times and take a break. After every bear market comes a bull market! I don't know how many times I told people that in 2018/19.

There's so much going on that people are getting confused. I feel like the FED is trying to slow it down but it won't help. They are pumping the dollar but there's no getting out of this spiral, eventually they will have to let inflation do its thing because they printed so much money that it's going to be impossible to stop. It's like they set the house on fire and are now pouring water over it with a bucket, but it's not going to stop just like that and even when you manage to stop it the house will be unfit to live in for a while.

Fractional reserve banking, quantitative easing, covid lockdowns, everything added to this situation and crashing stocks will not make it better.

My ATL at this point is 14k, but I'm not going to wait for it or bet on it. I sell only in high prices and hold through bear markets. I didn't sell anything at 40 or 30k and I'm not selling at 20. If I'm to hold for another 3 years, so be it.

I was looking for this in the comments after reading OP.

Mike is not someone who you'd want to listen to since in early 2018 he made a bitcoin price prediction of $50k by the end of that year and instead of going to 50, bitcoin went to $3k.


Don't forget about Burry. He came out of his closet this year to again warn us about the recession and an upcoming stock market crash.
The truth is, at some point it's going to happen and then they'll all say "we told you so".

I completely agree. This is another attempt by the government to control people and know their habits. They aren't doing it to protect young people or anything like that. They are doing it for the same reason why they're trying to launch CBDCs, which is to know your every move and be able to ban you from services with a click of a mouse. Once you're in their system they are going to know where you registered, where you paid, how much, at what time of the day... You're going to take a day off, call in sick at work, they are going to know if you're really sick by having access to your payments and online uses of your ID. Fueled your car and then gambled in the evening? Your employer will know you were bullshitting about being sick

This is the main issue. If a child is smart and cunning enough to be able to use cards that belong to his parents he's also be able to use VPN and hide his age. You'd need all gambling sites to run video verification like the KYC done by banks and they'd still probably try to cheat with face changing software or fake IDs because there's no risk. Worst case scenario a casino bans them and they will try to make an account elsewhere.
Good effort by Germany but it will probably make everyone's lives there harder with more restrictions and teenagers will still find a way around it.

10 month low was in May when we fell below the lows of July 2021

This is the problem of bear markets and bull markets. In bull people buy at the top thinking that since it was going up for the last X months there's no stopping it now. In bear people do the opposite, thinking that if it kept falling for X months it will continue forever.
That's why most people never make money and I personally know a guy with that exact mentality.
He always waits to buy at lows because he wants to see a reversal. When it reverses he never buys because he waits until it's confirmed, not a fakeout. Then he finally buys at the end of a bull market because it's finally confirmed to him and holds because he wants big profit - at least 100%. Then it corrects and he holds as long as he's in profit because in his mind it can bounce back at any minute. Finally he sells it all at a loss and goes into this state of depression where he doesn't talk to me for months. He suddenly appears when we're well in the next bull market to ask if he should buy because bitcoin is starting to look good again, and so it goes for the last 8 years, or so. Believe it or not, he first bought bitcoin in 2015 and after all these years made not more than 10%.  

Great points. I'd only like to add that the system proposed in the article will only work among casinos that agree to use this global self-exclusion. I'm sure there will be a number of sites that won't ant this is going to counteract the initiative. As the gambler that I am, I can bet you that when the gambler self excludes himself and takes a few days off, sleeps on the loss, the next thing he'll do is google sites that don't participate in the global program. Sites where he'll still be able to play.

I really don't care much about that as my country restricts basically every online casino just because they "worry about the financial health of its slaves?" or prefers people have some money to spend on various taxes rather than have some fun in a casino

For me there's a number of factors like the site's reviews, whether there's scam accusations on the forum or not, if they are active here and respond to questions, if they have a sig campaign or not, if they require KYC... Usually sites that are popular and have active moderators will not scam you, but you have to check their policies on VPNs and some other things. Before you start playing google them and check if people had any problems with them.

There's also a way to do it without an escrow, but it requires you to pay for the first hour up front. A forum account is worth more than $100 so a hero or legendary member won't risk getting accused of scamming anyone for such a small amount of money.

Let us know more about the job and what skills are required. I know how to write a review, if that's what you want.

I never sell bitcoin when it's 50% or more down from its ATH. Usually when it's in a correction between 50 and 100% of ATH I prefer to wait and see it unfold. If it bounces back and continues to go up like in 2021 I go back to slowly exchanging it for goods, but when it goes below 50% of ATH, like when it dipped to 6k in 2018 or to 30k this year, I stop waiting and begin to accumulate. I've been doing it for the last 8 years and I see no reason to stop now.

I don't have much to sell because I usually don't hold things that I don't use. If there's something laying around at home I sell it online or throw it away. I have a car that I bought last year for my bitcoin profits and it would be a great bargain to sell it for BTC because its price went up due to inflation and I'd get much more bitcoins for it that I had to sell to get it, but I'm using it daily. Same with my house, my computer, things like that.

This is something you guys can learn from me. Always make sure you have much more cash saved up than you think you'll need. I sold some bitcoins at 50-65k range and I thought this is going to be enough to rebuy when the bear market comes and cover all my expenses, but the inflation and gas prices make me think that I might not have enough.

Countries are corrupt as hell. When EU voted for sanctions against Russia, France continued to buy from Russia and sell them military equipment.
There's a list of countries that finance Russian attack on Ukraine by trading with them and the founding members of the EU are at its top.

It's like the world is preying on this war fueling both sides. Ukraine gets weapons and Russia gets money and they both keep getting weaker while the vultures wait to pick their bones when it all ends.