Bitcoin back to $50,000. Should I say it? Bitcoin hears me, and might either keep going in the same direction, OR humble me again and prove me stupid? But shower thought, what if I say Bitcoin will "crash down" again to $30,000?  |
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Plus the owner of Coinbase, Brian Armstrong, is truly anti-Bitcoin deep inside of him. He has supported ALL “proposals”, which are actually ATTACKS on Bitcoin, like Bitcoin XT, Bitcoin Unlimited, and he signed the New York Agreement for a hard fork to Segwit2X, another attack on Bitcoin.
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I have said this before, I believe when it comes to “life or death” of Bitcoin, the community will come to consensus to a hard fork to save the protocol, and agree to some measures to continue the sustainability of the system.
What kind of hard fork will that be? You mean if the security drops in the long term, right? A hard fork that would increase the coin supply. I can’t find the interview, but it was with Peter Todd who said that he believes it to be “OK” if it took Bitcoin to that path. Personally, I don’t know if I’m currently OK, or not OK with it. |
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I have said this before, I believe when it comes to “life or death” of Bitcoin, the community will come to consensus to a hard fork to save the protocol, and agree to some measures to continue the sustainability of the system.
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How many years has Coinbase been in the cryptocurrency trading industry, and the exchange still, gets hacked, goes down/offline during periods of high traffic, and continues to list shitcoins, giving them legitimacy. DON’T USE COINBASE.
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Where China made the biggest mistake in throwing away their competitive advantage over an industry, the Bitcoin industry, El Salvador will pick up the pieces and have the competitive advantage over the future of money. Sorry China, you had the opportunity.
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I think Gavin lost his way. Despite taking over as lead developer of Bitcoin from Satoshi, Gavin later abandoned Bitcoin and supported a fraudster (CSW). I give all due credit to Gavin in his work on Bitcoin in the early years, but considering he abandoned Bitcoin and became a fraud-and-shitcoin supporter I don't think his distant future take on Bitcoin is very relevant.
Roger Ver too did support that Craig Wright “is Satoshi”. Then forked his forked-shitcoin to Bcash SV. Currently a minority in the community are left HODLing shitcoins they believe to be “the real Bitcoin”, and shilling them to newbies. |
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Lesson learned guys. Where are you these past years?
Yobit ICO/IPO or anything that offers a yield of 9999999999x (sarcasm) profits is crap.
Why joined at their ICO if there's another way to risk your money to something worth like choosing good coins with a small market cap but performing well. Yoshit has already performed a crap ICO's lot of times already since the start of its operation.
It’s not only about ICOs from Yobit, it’s from ALL OVER. If the project is not for the science like Bitcoin, and accept/requires money from the people as payment, calling them “investments”, to issue their tokens, THEN it is a SCAM. |
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- This is going to be an historic error for China, as it was banning bitcoin mining
Today I read that the situation in China in terms of electricity is quite bad and that the north of the country is particularly affected, and there are big problems in as many as 17 provinces across the country. The problem is that the price of coal has doubled since last year, and the Chinese authorities have frozen prices for households, which is why more and more companies are getting into big trouble. On the other hand, the south is affected by high heat and lack of rain, which has significantly reduced hydropower production. It seems that the Chinese could not support crypto mining even if they wanted to, because as far as I could understand the situation was so bad that China asked Russia for help. https://thediplomat.com/2021/09/coal-shortages-force-blackouts-across-china/https://www.telegraph.co.uk/world-news/2021/09/30/china-asks-russia-boost-electricity-amid-widespread-blackouts/Isn’t the “shortage” of coal in China self-inflicted? I believe they ordered to stop importing coal from some countries, but most of their supply are coming from Australia. It’s a political move, because China doesn’t want Australia to interfere in their claim of Taiwan and the regions in the South China Sea. A lot of displacements in the energy markets are "self-imposed": - Coal shortages in China are self-imposed retaliation against a nasty neighbor.
OK, then it isn’t about the price of coal “going double” starting since last year, but it’s about political decisions made because of some other political reason. I believe China would not have banned Bitcoin mining if it had not made that political decision. They expected it, and it wasn’t just another “attack on Bitcoin”. |
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- This is going to be an historic error for China, as it was banning bitcoin mining
Today I read that the situation in China in terms of electricity is quite bad and that the north of the country is particularly affected, and there are big problems in as many as 17 provinces across the country. The problem is that the price of coal has doubled since last year, and the Chinese authorities have frozen prices for households, which is why more and more companies are getting into big trouble. On the other hand, the south is affected by high heat and lack of rain, which has significantly reduced hydropower production. It seems that the Chinese could not support crypto mining even if they wanted to, because as far as I could understand the situation was so bad that China asked Russia for help. https://thediplomat.com/2021/09/coal-shortages-force-blackouts-across-china/https://www.telegraph.co.uk/world-news/2021/09/30/china-asks-russia-boost-electricity-amid-widespread-blackouts/Isn’t the “shortage” of coal in China self-inflicted? I believe they ordered to stop importing coal from some countries, but most of their supply are coming from Australia. It’s a political move, because China doesn’t want Australia to interfere in their claim of Taiwan and the regions in the South China Sea. |
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I’m WRONG again! But being wrong in this current instance that I would like to be! But no more “experiments” from me, and no more preaching/annoying everyone to BTDaH. I don’t want to upset Bitcoin, it hears me. Enjoy the view! |
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I read the title, I clicked the link, then I checked the date. Topic created September 31, 2021! First question that went in my mind was, “YOBIT is still alive”? Hahaha.
OP, AVOID YOBIT!
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I read the article when it came out. I think Gavin Andresen is a really intelligent person and his thoughts would be wise to be taken into account. His value to the Bitcoin project in it’s early days can’t be overstated and I think his vision makes a lot of sense. Without some massive changes to how Bitcoin works, this may be the best case scenario.
With all due respect,ser, that’s very debatable. He gave Craig Wright the fame, and the attention he needed because Gavin, an ex-Core Developer, said Craig was Satoshi Nakamoto. One of the reasons? Because in their chats/emails he said “he felt he was talking to Satoshi”.  |
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But now you've given an example of gold's intrinsic value- use in jewelry. The value comes from it's intrinsic properties; not people speculating on it's value, but actual use. That's not where bitcoin's value comes from, nor NFTs. In both cases, that value comes exclusively from speculation on the future value of them, based solely on a mass assumption of future worth. To differentiate, gold as a store of value is completely arbitrary, just like bitcoin. But gold still has a demand outside of store of value (the intrinsic value of gold) and bitcoin and NFTs do not. That's the difference between bitcoin and gold and why there's no difference between bitcoin and NFTs.
And this time I'm really missing your point. Didn't I show that gold is considered valuable in jewelry only because many people believe so? Now, if many people believed that possessing 1 Bitcoin was necessary for your high status, the price of BTC could rise to hundreds of thousands USD only because of that. Why? Because there are more millionaires in this world than Bitcoin max supply. Wouldn't this be an intrinsic value of Bitcoin? It all comes down to holding it in your hands and the community belief. Gold has been around as a symbol for 2000+ years minimum, probably longer but I am not really well versed in history so it is probably 3000 years or even more. So, that means gold has been around for millennia and we are talking about bitcoin which has been here for a little over one decade and it of course doesn't get to be as valuable as gold for now. It may become one in the future but we just do not see it for right now. Do not compare things that are physical and digital because people will always say "but can I hold it" as an argument. I know that never makes sense and something that you end up trusting more digitally could be more fragile physically so it is better digitally. However that doesn't mean that people will not keep saying the same thing over and over again.They most likely will, but if we have good arguments we should provide them, and maybe one day they will be able to change their mind. I believe we are entering an era where digital things are gaining more value year by year, and many physical things, which were valued for centuries, are losing their value. Look at the Inflation Adjusted Gold Price, for example: It turns out that gold is actually losing its value since around 1980. A link to an article explaining how to calculate Inflation Adjusted Gold Price. https://seekingalpha.com/article/265225-determining-the-true-inflation-adjusted-gold-priceThat chart is right, Gold value during the 1980’s does have more value and than Gold during 2015, but the article valued Gold at $8,194 during 1980’s and $3,604.22 during 2011, the year it was posted. |
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Seeing the price trend since new ATH then I'm sure the price of bitcoin will not drop below $40k, if now the price of bitcoin is $42k then this is a price dip so buying immediately is the most appropriate thing, I'm sure before october the price of bitcoin will reach $45 so we can profit more than 10% in a week.
You shouldn’t be too “sure” because we can only give probabilities, not absolutes. I have made the same mistakes before when I have said many times that “Bitcoin will never trade below $50,000 again”. Stupid me. Hahaha. As an experiment, let me say, BITCOIN WILL NEVER EVER TRADE BELOW $40,000 AGAIN. Be ready to buy the dip. |
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Seems possible to me. But frankly I am 64 and will be 104 in 2061 so I won't give a fuck.
BTC has long term issues lets see
3.125 btc in 2024
1.5625 btc in 2028
0.78125 btc in 2032
0.390625 btc in 2036
0.1953125 btc in 2040
0.09765625 btc in 2044
0.048828125 btc in 2048 and we are not equipped to do this since we stop at 8 digits
so do we fight and fork to cut the last number off .
what do we do? and that is 27 years from now I will be 91 and most likely not care about btc.
You are 64? You probably discovered Bitcoin 10 years ago when you were 54? Bitcoin must be a very good retirement hobby for you, and as a financial retirement insurance/back up plan. Satoshi picked a perfect year to develop, and build Bitcoin. Plus of course you never give a fuck. Discovering and HODLing Bitcoin since under a dollar? |
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Isn't speculation and volatility a problem for Bitcoin?
Yes and no. Bitcoin’s price relies on the markets around the world for price discovery, and in the markets’ current level/situation/form, Bitcoin is very volatile, but it might become more stable as it grows to multi-trillions in volume. |
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This is good news but it sort of amuses me to see how different countries take on a polar opposite approach on crypto. China for instance is on the other side of the spectrum, and interestingly it is the only country with such a negative approach. On the other hand, you have the US and European counties as well as Central America and Africa where you may see some negativity but still quite open-minded about crypto. Not even going to emphasise which country/ies are closer to the truth but hope that it is becoming obvious. But it actually is not good news. I believe many of these people will just lose their salaries because more than 80% of them do NOT have the right education about Bitcoin, about cryptocurrencies, about investing/trading, and most of them would just be gambling everything away. |
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Just what I want to do, direct deposit my paycheck into a company known for horrible customer service.
It's really not that much more work to put my check into a bank and then ACH it to coinbase.
If they had a good support department, that would be a different story. But even if the issue is with the payroll processor and not them, not being able to call someone to figure it out. I'll pass.
Good idea in theory, if it was Gemini I would think about it.
-Dave
Plus it’s bad, because most of the people, especially newbies, will be going into Bitcoin and shitcoins with a “get rich/greed” motive, before having all the proper education about Bitcoin and why it’s not a “scheme” for getting rich quick. |
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The impression this move from China gave to me is, Bitcoin has only become MORE valuable in China, and that the people under that tyrannical State has come to need Bitcoin MORE than they did BEFORE the ban.
I could say the same although tyrannical seem a bit off, if they're tyrannical then they're cruel to their own people but the only problem is that they're almost close to that since they still have concentration camps and they enforce heavy surveillance. That is also my indicator to accumulate more bitcoin because I know that when China gets into something like this, the market will eventually go up. “Tyrannical” does NOT automatically mean “Cruel”, tyrranical simply means dictatorial, which is truly what the system the Chinese people is under. Plus the “value” of Bitcoin in China is not only in financial terms, but in protecting an individual’s freedom/human rights. |
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