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3281  Economy / Speculation / Re: Buy the DIP, and HODL! on: October 27, 2021, 11:27:03 AM
You missed the trade? You had an opportunity to buy lower than $50,000, but didn’t buy? Hating yourself?

Watch this. Bitcoin will NEVER EVER EVER trade under $50,000 EVER EVER again!

Place your bids near the prices under $50,000, thank me later. Cool
3282  Other / Archival / Re: False Breakout ? on: October 27, 2021, 11:10:24 AM
Quote

Who has any thoughts about what is happening on the market now and what to expect in the future?


Now? The DIP before the surge to $70,000.

The future? Simply, throw all techno-fundamental analysis out of the window, AND ZOOM OUT. Looking at a zoomed out chart will make understand that dips NOW are for buying.
3283  Bitcoin / Bitcoin Discussion / Re: Walmart Sells Bitcoin on: October 27, 2021, 09:15:35 AM
I seriously doubt it'll accept it as payment method anytime soon. That's because Bitcoin's wild fluctuations in price makes it a terrible currency for day-to-day payments.

Why would they accept Bitcoin as a means of payment if there is actually no interest from their customers in the matter? Most perceive Bitcoin as an asset that allows them to profit (short-term and long-term), and a smaller part occasionally use it as a currency. Volatility is not a problem for sellers because everyone uses payment processors that automatically convert BTC to fiat - the problem is fees that can sometimes be significant, and that on-chain transactions are not instant.

With Walmart in the game, I wonder which other company will adopt Bitcoin next? Huh

I wouldn’t call it an adaptation, they just allow Coinstar to have kiosks in their stores - and it doesn’t matter at all what kind of service is provided at those kiosks, as long as it’s nothing illegal. Here, choose the one you like best -> Starbucks, Lowe's, Wendy's, Kroger, The Home Depot, Shell, Dunkin' Donuts, Subway...

That’s because why should Bitcoiners waste their coins to purchase “things” from Walmart? We don’t need censorship-resistance to buy from that store, do we? We have our cash/fiat. We are pro-Bitcoin, but cash/fiat remains useful too.
3284  Bitcoin / Bitcoin Discussion / Re: Bitcoin Price vs Iphone Price at launch on: October 27, 2021, 09:00:53 AM
Actually when i see bitcoin and iphone memes these sorts of are which i liked the most :



This makes me wonder the same Iphone 4 is now rarely seen and priced at very low price and even if the same amount have been invested in bitcoin at that time you would now be able to millionaire.Just imagine the returns on both. This is how inflation robs you of purchasing power and the inflationary assets you own devalue so fast and on the contrary basis bitcoin is deflationary and can secure your future.

More and more iphones will be released even after 2140 but no more btc left to be mined and then prices will be unimaginable.So choose wisely these memes are some sort of guiding visuals to be visionary but most of us take it for fun.I can say i am bitcoin holder.


The iPhone comparison priced in Bitcoin showed was obviously not about how inflation robs us of purchasing power. It showed us, or it’s still showing us, that Bitcoin remains on its path to price discovery to 6 digits? Although, it might not be very obvious during 2010 - 2012, during the time of 10,000 Bitcoin Pizza.
3285  Bitcoin / Bitcoin Discussion / Re: Bitcoin Price vs Iphone Price at launch on: October 26, 2021, 11:21:12 AM

Conclusion: don't waste money on Iphones, buy bitcoins instead. Smiley

Just imagine how profitable bitcoin investment could be for those people who compulsively change their Iphones' models every new year when a new one is launched.


Yes, but no. Buy the iPhone if you want it, but if you already HODL your money in Bitcoin, then DON’T use that. Never use Bitcoin unless something requires you to make a censorship-resistant transaction.
3286  Bitcoin / Bitcoin Discussion / Re: Walmart Sells Bitcoin on: October 26, 2021, 09:33:06 AM

I think a better title is 'Coinstar coming to WalMart, machines also sell BTC'
For converting coins to real money Coinstar takes way too much of a cut to be worth it.
Their kiosks do however have to option of some fee free gift cards. If those cards work for you it may be worth it.

For us here with the KYC & high fees it's not worth it for BTC
There are other cheaper ways and there are ways that do not require KYC.

For people who do not know better, yes it's a way to get people in and from there they can learn.

-Dave


OR simply remove KYC to make the high fees, conversion fees and higher slippage/price worth it. Because if not, then a Bitcoiner should stand beside those machines and sell people Bitcoins for how much the machines are selling then. Then argitrage buy in Bitstamp. Cool
3287  Bitcoin / Bitcoin Discussion / Re: SNL had a skit where they said the Devil invented Bitcoin on: October 26, 2021, 05:43:32 AM
OP, if the skit says that the devil invented Bitcoin, then who controls the banks who have always been truly against Bitcoin? Are the bankers the angels who would save society from the “devil’s invention”? Cool
3288  Economy / Economics / Re: Big test for Bitcoin during the next Economic Collapse. on: October 26, 2021, 05:09:30 AM
https://twitter.com/jack/status/1451733913961783299

Quote

Hyperinflation is going to change everything. It’s happening.


I started this topic on February 22, 2021. Merely eight months later, these are the words of someone who is obviously smarter than a pleb like me. “It’s happening”, and you know what to do. Buy the DIP and? Cool
3289  Bitcoin / Bitcoin Discussion / Re: Walmart Sells Bitcoin on: October 25, 2021, 12:42:50 PM

Do you think this will be successful?


The “good”, Bitcoin is currently everywhere. Everyone wants it, and a provider is prepared to sell it. BUT this is a scam in my opinion. Remove KYC, then I believe that compensates for the bad slippage and the transaction fees/cash exchange fees.

It's mostly the transaction fee that I see being commented particularly on social media. People are saying it's too high. But even so, I think there will still be people buying BTC  from the kiosk. It would be interesting if they bargain that if people submit KYC, they give a bargain price and low transaction fee.

But I'm seeing wallmart going to also adopt BTC which once people buy BTC, they could use the BTC to buy stuff on wallmart.


Plus it’s also about the slippage, and how much the price to purchase through ATMs in Walmart. Bitcoin is currently priced at $62,901.01 in Bitstamp, and exchange that requires KYC. What would be the advantage for people to buy Bitcoin through KYC ATMs if it’s sold at $65,000? Remove KYC.
3290  Bitcoin / Bitcoin Discussion / Re: Bitcoin Price vs Iphone Price at launch on: October 25, 2021, 12:13:22 PM
That MEME validates that Bitcoin is currently not “right” to use as a medium of exchange. We don’t know what its real price is because it is on a path to price discovery. If your transaction doesn’t require censorship-resistance, keep HODLing your Bitcoin.

You also know that we can't just be on the hodling for longer than we can when there are issues of finance all the time. The times are hard and even with censorship transaction, we sometimes have no choice but going through it to safe our heads at such a point when all we have is our hodling in bitcoin but reinvesting is always nice to do. When it comes to health issues IMO we can't keep the hodling on.


As a technology, the Core developers made design-decisions that made Bitcoin a multi-generational protocol. HODL.

As an investment, Bitcoin is still on its path to price discovery to be more valuable than its current value. HODL.

As an asset, it’s simply a good censorship-resistant, self-sovereign store of value. HODL.
3291  Economy / Speculation / Re: Summer dip?!, December price outcome? ---> JOIN and guess the price GO! on: October 25, 2021, 10:19:07 AM
So I missed out all that drama. Nice real-time tickers, nicer to see the hiccup ongoing, nicest to see that the best the bears and profit-takers can do is a 10% shaving off peak.

Have to admit was expecting price to blow through 70k once new top achieved but I guess we gotta see all kinds of ATH behaviour in this peak's that already done some 1st timers.

It was nothing in my opinion, it didn’t wake up sgbett and the other Bitcoin Cash SV flat-earthers. But the real drama will be another 30% mini-crash next few weeks, then REAL ATH. That would be the last opportunity to buy the dip under current ATH.

Oh my!!!  Holy shit!!!

Do you even believe that a 30% dip (that would be down to around $46k.. which surely would not be the end of the world, for sure) is within reasonable expectations?  I appreciate that you, Wind_FURY, seem to be just throwing that out there as an extreme.. so probably you are not really considering a 30% drop to be too likely.. but it is within the realm of extreme possibilities.. .. in any event.. even the proposition of a 30% drop got my hackles up..

I understand that anything is possible, but we should be considering what are more likely rather than extreme scenarios, even if extreme scenarios are also possible.

I had seen some posts upthread discussing our so far dip (if we want to call it that rather than labelling it as a pause in UPpity), and really if you look at the extreme of the local bottom so far, from $67,017 down to $59,634 we have about a 11% dip, and probably we are out of the noise territory.. so noise might be any dip that is less than 8%.. so we are out of noise territory and nearly into the area that is worthy of writing home to mom.. but not in any kind of panic stage yet.... .. and maybe the meaningful and common dips that attempt to scare the shit out of weak hands would be in the 15% to 25% territory.. and sure I understand that you are getting this 30% number from our previous dips during bull markets.. 30% dips  have not been common..

...but I would still assert that it is less likely to get any kind of dip that is of that extreme while we are passing through noman's land.. which is $55k to $80k... and sure I am not even saying that those considerable dips are not possible because we already know that anything is possible, but the more likely scenario.. especially since we already passed half way through noman's land and also surpassed our previous ATH of $64,895.. would be a continuation of UPpity.. and sure maybe a flash crash down to $55k-ish (which would be 18%-ish).. is reasonably within the cards.. .but anything too much greater than a 18% correction seems to be getting into more extreme scenarios.. and even though I would not rule out the more extreme scenarios from playing out.. I would not be presenting them as "givens" yet.. especially since we have only so far gotten 11% out of the correction, so far.. 18%?  sure.. 30% less likely... going up from here.. sure that would be reasonably within our current BTC price posture, too... Not easy to really know these short-term price directions except of attempting to consider what are more likely what are extreme and.. being prepared for any of the scenarios whether extreme or not.. while maybe not overly anticipating extremes that cause you to look like you are just a crazy nutjob, talking your book, disingenuous or perhaps not really understanding the asset class (king daddy) that you are attempting to analyze (again.. not labelling you, Wind_FURY, as any of these.. just responding to the 30% correction in these here times scenario that you brought up)..  


You’re right, it is “less likely”. I was merely illustrating the possibilities, and it was only an opinion based on the fact that Bitcoin is still indeed as volatile as it was during 2017. But extreme? I believe not.
3292  Bitcoin / Bitcoin Discussion / Re: After a few months of China crackdown on mining. Check it out! on: October 25, 2021, 10:01:51 AM

Nothing like China can take over bitcoin or bitcoin network again, it appeared to novices before that China can be in control of bitcoin, but bitcoin hashrate increased back as many miners left China into another country to mine bitcoin while some mining pools especially in United State increased their mining hashrate.

What this just revealed is that if a country do not support bitcoin, some other countries are supporting it, if mining bitcoin is not allowed in a country or banned, other countries will see it as an opportunity to encourage mining and take advantage of the opportunity.

I will wish many other countries to encourage mining so that USA will not be the new China so that the hashes generation is not congested in a single country.


Bitcoin hashing power does NOT represent who/which country “controls ” Bitcoin. Everyone shouldn’t forget that Proof of Work is more a Sybil Attack prevention mechanism than a mechanism for consensus. BIP-148 proved it, although there will always be the deniers.
3293  Bitcoin / Bitcoin Discussion / Re: Bitcoin Price vs Iphone Price at launch on: October 23, 2021, 12:08:36 PM
That MEME validates that Bitcoin is currently not “right” to use as a medium of exchange. We don’t know what its real price is because it is on a path to price discovery. If your transaction doesn’t require censorship-resistance, keep HODLing your Bitcoin.
3294  Economy / Speculation / Re: Summer dip?!, December price outcome? ---> JOIN and guess the price GO! on: October 23, 2021, 11:31:59 AM
So I missed out all that drama. Nice real-time tickers, nicer to see the hiccup ongoing, nicest to see that the best the bears and profit-takers can do is a 10% shaving off peak.

Have to admit was expecting price to blow through 70k once new top achieved but I guess we gotta see all kinds of ATH behaviour in this peak's that already done some 1st timers.



It was nothing in my opinion, it didn’t wake up sgbett and the other Bitcoin Cash SV flat-earthers. But the real drama will be another 30% mini-crash next few weeks, then REAL ATH. That would be the last opportunity to buy the dip under current ATH.
3295  Bitcoin / Bitcoin Discussion / Re: Walmart Sells Bitcoin on: October 23, 2021, 10:43:36 AM

Do you think this will be successful?


The “good”, Bitcoin is currently everywhere. Everyone wants it, and a provider is prepared to sell it. BUT this is a scam in my opinion. Remove KYC, then I believe that compensates for the bad slippage and the transaction fees/cash exchange fees.
3296  Bitcoin / Bitcoin Discussion / Re: PoW vs PoS on: October 23, 2021, 10:26:51 AM

Also if POS consumes less energy, then wouldn't it be a good idea for Bitcoin to transition to a POS algorithm?


Research what a Perpetual Motion Machine is, that’s what Proof of Stake truly is. Plus the mere possibility of considering that Proof of Stake could replace Proof of Work, is someone who has not truly taken the time to understand how Bitcoin’s incentive structure works, and WHY it works.
3297  Economy / Trading Discussion / Re: Decentralized Exchanges Vs Centralized Exchanges on: October 22, 2021, 11:17:39 AM
The main disadvantage of decentralized exchanges is, it is less liquid than most centralized exchanges. Consistent high slippage will definitely be a big problem for an active trader. It’s acceptable, if you buy cryptocurrencies once a month only for HODLing.
3298  Alternate cryptocurrencies / Speculation (Altcoins) / Re: How are your shitcoins? on: October 22, 2021, 10:45:02 AM
How are your NFTs? Are the floor prices OK? We are in the “OMEGA CYCLE” of the current bull market. It’s already the time to be planning your exits from illiquid NFTs and illiquid, low-value shitcoins, and HODL them in Bitcoin.
3299  Economy / Speculation / Re: Summer dip?!, December price outcome? ---> JOIN and guess the price GO! on: October 22, 2021, 09:25:07 AM
Bitcoin experienced a mini-crash
That's not a mini crash, it's barely 3%. I'd say a mini crash is like 20%, and a big crash would be 80%.
It's a hiccup at most Smiley


I believe not for those users in Binance.US. Proudhon can get a screenshot of yesterday’s candle of that, and claim his prediction DID become true. Bitcoin from $ATH crashed landed to < $10,000.

We salute him. Cool

3300  Bitcoin / Bitcoin Discussion / Re: Learn to laugh even if Bitcoin is crashing on: October 22, 2021, 08:47:53 AM
The son will be richer than the father in 10 years. Cool



For context, Peter Schiff’s son owns Bitcoin, and has probably started accumulating/HODLing for as long as Peter Schiff was spreading FUD, and false assumptions about Bitcoin.

This is funny and I actually also read about that a while ago. I am curious how their relationship actually is because you could say that they are still father and son with just two different opinions. The problem here might be that there is a whole lot of money on the table between them with one bashing the wealth potential of the other. Does anyone know whether have been reports about their stance towards each other?


The relationship might be, the son wants to discuss his investment decisions with his father because the son himself is proud, and wants his father to be proud of him. The father avoids discussions with the son regarding investments because the son outperforms him by > 5,000%. Cool
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