it's not 2014 anymore. the altcoin markets are much more liquid than that. if you sold 1000 ETH on coinbase right now, you'd crash the price a whopping $2 down to $220.  Every heard of spoofing and fake bid walls? |
|
|
|
My only regret is that I didn't shovel $50k into ETH in 2015 and cashed in $50 million two years later.
You would never have been able to do this. ETH has no liquidity, the market float is laughably thin. Just trying to liquidate 1000 ETH on a single exchange would crash it down to cents. |
|
|
|
|
OT: Not that I personally believe Bitcoin is only an investment, more of a digital online money that is still growing in value. But I'm so sick of seeing well known wealth investors in the media saying shit like "Bitcoin's ship has sailed...shoulda got in at $1, but not worth it now."
Total bullshit.
If Bitcoin's fiat value *only* doubled from here within say, 6 years (I'm being waaay conservative here for sake of argument), it would still TROUNCE every single hi value equity out there in the market today. Including Apple, Google, Facebook, or Amazon. If it merely matched the gains of any of those other equities, it'd still be worth it. And if it *only* increased by 5-6% a year over a 6 year period, it would beat something like 90% of ALL equities out there.
|
|
|
|
It's time (again) for a Wall Observer Meta Post! I am going to switch to monthly schedule soon! Merit analysis based on LoyceV merit file: http://loyce.club/Merit/merit.all.txtMerit updated to Friday,26, Jul, 2019 02:51:39 UTC [snip] As a side note, ya'll need to quit meriting our resident troll-who-must-not-be-named. The asshole has nearly 300 merits, but gives back merits to no one else. He is not funny. He is not cool. He spews a bunch of worthless crap. He is a fkn troll. And he won't leave. Stop meriting him pls. And for the love of the godz, don't quote him. |
|
|
|
We have always had various price sticking points in BTC... ask Torque.
$9999.99999999 FTW  |
|
|
|
A catastrphic study by IEA: Bitcoin energy use - mined the gapAs the price of bitcoin skyrocketed in 2017, attention turned to the cryptocurrency’s energy and environmental footprint. High-profile news articles reported that electricity use of the bitcoin network had equalled that of medium-sized countries and was on track to consume as much electricity as the United States in 2019 and all of the world’s energy by 2020. A widely reported article in Nature Climate Change warned that Bitcoin emissions alone could push global warming above 2°C.
By 2024, the heat from bitcoin mining would cause the planet's crust to crispen and catch fire, ending all life forms in complete heat death. By 2026, the earth's heat would be so hot that the planet would likely implode and supernova, creating the galaxy's first twin sun solar system born of the artificial negligence and hubris of mankind. Bitcoin will kill us all...very soon.
Tsk tsk...these journalists these days, just can't be bothered to do the extra research and correct their articles. There, fixed it for them. |
|
|
|
|
All I read here is "blah blah blah BTC price will crash blah blah blah blah BSV will be king blah blah blah blah blah BTC price will crash blah blah BSV will be king blah blah blah blah BTC price will crash blah blah blah"
Like being wrong much, sgbett?
|
|
|
|
Nevermind the obvious blatant lie that "nobody uses it". Is this what substitutes for honest discourse in your pathological mind?
He meant "nobody" as in nobody that matters. You, Judas, Aussie Man, Porn Man, Coke Man, and a handful of other idiots don't count. So, no not a blatant lie. Lol. |
|
|
|
IF CSW has access to 1.1M BTC and IF CSW and/or allied miners deign to mount such an attack, then that may be devastating to BTC. Seems a lot of coin tosses would have to land on edge for such to be the case, but...
Heck, I wouldn't even think such an action unethical. It's just part of the game theory. It's not as if these ideas have not been hashed and rehashed publicly since years. Anyone astonished by these ideas either has not been paying attention or is in active denial.
Like to omit the inferences to the rest of that dramatic story, don't you jbreher? Like afterward life will be great, and the entire crypto community will all be singing kumbaya in BSV land? If any of that would to occur (which we all know it won't), it wouldn't suddenly endear ANYONE to BSV, BCASH, or any other Bitcoin shitcoin/derivative thereof. If BTC were destroyed due to CSW's actions, it's not like when the smoked cleared all the existing Bitcoin TM advocates, users, merchants, exchanges, brokers, and investors would suddenly race toward BSV or BCash. Quite the opposite infact. Sorry to disappoint your glorious troll 'vision'.  |
|
|
|
So potentially if millions of people all over the world buy Bitcoin infrequently (as a store of value), and hold for long periods of time, years or even decades, then the whole "transaction throughput problem" is overblown and over-hyped, is it not?
Since they won't be doing daily transactions with it?
Just like PMs. Nobody buys a silver coin just to turn around and try to buy a hamburger with it.
I think it remains to be seen if something on the order of 10 transactions/s will suffice at scale, I did say "may". The idiot BCH and BSV camp have the same problem with incentive. No one is going to buy either of those shitcoins just to use for daily transactions, because of the hassle of acquisition in the first place. Plus they have even less merchant support (almost non existent except for Bitcoin Judas' one Japanese coffee shop). Doesn't matter what theoretical future transaction throughput problem their blockchains purport to solve. So the joke's on them, lol. |
|
|
|
Let's start with this problem first:
"Why would I go through all the hassle and fees to buy Bitcoin so I can buy stuff with it (and then have to report the transaction to the IRS), when I can just use my bank account fiat and not endure any of that aggravation?"
The "store of value" proposition obtains here. There is currently no need to "buy stuff" given the evaporating value of fiat holdings. Agreed. So potentially if millions of people all over the world buy Bitcoin infrequently (as a store of value), and hold for long periods of time, years or even decades, then the whole "transaction throughput problem" is overblown and over-hyped, is it not? Since they won't be doing daily transactions with it? Just like PMs. Nobody buys a silver coin just to turn around and try to buy a hamburger with it. |
|
|
|
We'll see...
It may yet turn out that we have a transaction throughput problem with the current configuration, not to mention an L2 centralization problem.
And no, I am not overlooking the chainsize/full node maintenance centralization problem of the alternatives.
These problems, they need solving.
Let's start with this problem first: "Why would I go through all the hassle and fees to buy Bitcoin so I can buy stuff with it (and then have to report the transaction to the IRS), when I can just use my bank account fiat and not endure any of that aggravation?" |
|
|
|
One can only hope that the free market of ideas will allow a really workable solution to rise to the top.
Isn't that what's happening right now? Bad actors can only keep a really good idea down for so long. I remember there was this documentary from 2006 called "Who Killed the Electric Car?" Well, it turns out the answer is "nobody." Actually the real answer all along was "absence of viable battery technology". But some of the conspiracy theorists (the idiot ones) had their heads in the sand over that issue. It was more fun and more policy-targeted to blame the oil/gas industry. |
|
|
|
Well, to be fair, aussie man is pretty fucking disagreeable.
It would be way better for you guys if you could find a way to throw off some of these offensive personalities...just sayin'.
If you can explain to me how to 'throw off some of these offensive personalities' from a permissionless system, that might be doable. But that would be abandoning perhaps the most foundational principle. Quite the conundrum. TheRealSatoshi walked away from Bitcoin TM. But FakeSatoshi remains, because he controls the mining cartel for his little shitcoin and can't leave the profit behind. Quite the conundrum, eh? |
|
|
|
Well, to be fair, aussie man is pretty fucking disagreeable.
It would be way better for you guys if you could find a way to throw off some of these offensive personalities...just sayin'.
Like off a cliff, for starters. |
|
|
|
Well, I don’t know if you referred clown also to Plan B, but he’s actually truth to model how supply and demand impact bitcoin price.
You can model Bitcoin supply and demand all day long, with mathematical predicative models, stats, etc. But behind the "demand" component of S & D, there are real fucking people. Not just 'the mysterious ether out there'. Demand is driven by the emotion of people en masse opening actual accounts and buying Bitcoin with their fiat. Not by magical levitation. So I say again, where is this magically spurned emotion of epic buying going to be coming from to move the price to $1M by 2020? McAfee doesn't say jack shit about that, and neither do the other talking head idiots. They are just pissing in the wind. Yes I am still a long term bull, but come on. |
|
|
|
What do you make of his $1million btc prediction? I don't think it will happen
Overly ambitious. But I wouldn’t definitively rule it out. Specifically, McAfee predicted $1M by the end of 2020. A raging bull market may peak at $1M in q4 2020, but assuredly a major bear market will follow in the event. McAfee prediction is based on his own “mathematics”. But he never disclosed why and how BTC will get to this level. PlanB also predict multi millions values for bitcoin, he clearly states how we will get to that valuations. Part of the story is als o the fact that USD will lose much of his value (BTCUSD going up not because BTC going up, but because USD going down). Still, difficult, not impossible. 2020?hardly doubt so, even if halvening effect fully takes place. Hilarious that these clowns like McAfee make these outrageous Bitcoin price predictions, like the price will just magically "rise" to these astronomical levels on its own, in a supposed vacuum. They never talk about people. As in, price rises when people fucking buy Bitcoin. As in public demand outstripping supply. So what is going to spur this amazing and sudden demand? Everyone I've talked to has no plans to create an account and buy any Bitcoin, no matter what the price does. tldr; Bitcoin price doesn't just magically rise on its own. /rant |
|
|
|
Have to add I'm deeply disappointed with Lambie lately. He was a permabull when he first appeared but it seems he has turned into a bear now. What is more alarming he started posting his bearish prophecies of the so-called "one last dump before up" theory and now this $4900 bottom post. I'm worried that's a way how most beartrolls earn their merits and post count (also respect from other members) - post bullish things first, turning into bears later. So guys be smart, think twice! We're getting surrounded by werewolves.  Guys, this is exactly how trolls on this and other forums work. 1. Come in as a neutral friendly 2. Gain trust, gain merits and status 3. Gain supporters/followers 4. Slowly flip their sentiment bearish, and eventually outright hostile 5. Try to influence others Why do you guys think that these trolls want to desperately hack or buy Legendary pro-Bitcoin/bull accounts? The bigger question is why do the fools fall for it over and over again. |
|
|
|
|
Show Posts
