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3461  Bitcoin / Bitcoin Discussion / Re: 7th September 2021 Bitcoin becomes legal tender first in history on: September 08, 2021, 09:57:32 AM
The protests against El Salvador’s Bitcoin Legal Tender Law, not against Bitcoin, might also be supported and funded by the opposition of the government, who are politicians themselves whose agenda should always go against the current leadership.
3462  Bitcoin / Bitcoin Discussion / Re: 7th September 2021 Bitcoin becomes legal tender first in history on: September 07, 2021, 11:40:07 AM
it is right that a single bitcoin now has this price 78900$ on their app? or it's just some error during video recording?




Is anyone from El Salvador to confirm that? I hope it’s just some error.

Plus someone is trying to crash the market on this historic day for Bitcoin. Is this coincidence? Or does someone, some anti-Bitcoin entity, cannot accept the fact that Bitcoin has left their shitcoins behind.
3463  Economy / Trading Discussion / Re: Some trading mistakes beginners make on: September 07, 2021, 11:19:37 AM
Just to add, one common mistake as well is Hype trading (that's what I called it  Grin). A lot of newbies, tend to go all out by just joining the trend or hype of a coin without proper research. Why is it common? Well, let's accept the fact that when a person hears about generating a huge amount of money by doing this or that, we are persuaded to try it out. The reason normally is "If they can, I can", then sooner or later they'll be caught up being scammed or worst broke.


That’s precisely why the term F.O.M.O. is used in investing/trading, or was it actually invented in Bitcoin’s trading/investing community? I don’t know. But it means Fear Of Missing Out, also called Panic Buying. Cool
3464  Economy / Trading Discussion / Re: Some trading mistakes beginners make on: September 07, 2021, 09:01:45 AM
OP, another mistake newbies always make is, over-estimating their intelligence, and capabilities. Trading is a zero-sum game. To get money from the market, another participant must lose it. We are mere plebs, and the game is always won by professional traders.
3465  Economy / Economics / Re: Tulip Mania 2.0 on: September 07, 2021, 08:36:01 AM
There are many nocoiners that claim that Bitcoin is “Tulip Mania 2.0”, but it has been 10 years. How long must the protocol keep running before the rest of the world accepts that Bitcoin is not going anywhere. In fact, it opened a Pandora’s Box of new possbilities. BUT, I believe the next “Tulip Mania” for this bull cycle are, NFTs.

Could be. If you think of it, an NTF does make sense for many games in which you have in-game items that are unique or have a limited occurrence. Getting these does require either effort, a payment or both, so they actually do have some intrinsic value. However, the same could be said about tulip bulbs: you can actually use them to grow a tulip - which by the way will come out every year for a long time, so they do have an intrinsic value.

So when does the tulip mania start? When you are paying for something that you are not going to use, simply thinking that someone else will pay even more.


Do you believe that paying more than $1,000 for NFTs to play the current “blockchain games” that’s lower in quality of game play a fair valuation? It’s merely part of another hype cycle. Most of them will crash, and fail. The games left will be forgotten.
3466  Economy / Economics / Tulip Mania 2.0 on: September 06, 2021, 09:22:02 AM
There are many nocoiners that claim that Bitcoin is “Tulip Mania 2.0”, but it has been 10 years. How long must the protocol keep running before the rest of the world accepts that Bitcoin is not going anywhere. In fact, it opened a Pandora’s Box of new possbilities. BUT, I believe the next “Tulip Mania” for this bull cycle are, NFTs.
3467  Economy / Speculation / Re: Bitcoin, I salute your final ATH. on: September 06, 2021, 09:11:54 AM
I don't know why but I feel like this thread be occasionally be bumped so when the prices start breaking the current ATH, we will be able to celebrate it in this thread so @proudhon can see how wrong he/she is and just to add insult to the injury.


i think youre missing the whole point of proudhons game.


But what is proudhon’s game? There’s nothing he can do anymore, especially not move the price of Bitcoin with his trolling. I believe he was one of those OGs who held more than 1000 coins, but who sold too early. 7 digits would have made him a billionare.

i think the object of his game is to figure out what the object of his game is.


He’s simply trolling, and hoping that his fork-of-a-forked-shitcoin will surge to a significant valuation. No one listens to them. They’re an annoyance, but no one listens to them. A pity to those people who sold their Bitcoin for forked shitcoins.
3468  Economy / Speculation / Re: Buy the DIP, and HODL! on: September 06, 2021, 07:25:08 AM
The doctors around the world are confused. The cases caused by COVID-19 are going down, but there is an increasing number of cases of people going to the hospitals because of stress, and anxiety caused by an unknown disease.



Bear disease? Cool
3469  Economy / Speculation / Re: Parabolic blowoff top or Rounded top on: September 06, 2021, 07:09:11 AM
Frankly, I believe you’re wrong, especially with Microstrategy. Do you actually believe that they bought Bitcoin to simply trade it back to fiat like some of the plebs like us in the forum? Plus why would they wait until December and panic sell like the plebs? They should be selling NOW.

If everything plays out well, Microstrategy will never sell all their coins,


WHEN everything plays out well not IF. How long must the protocol keep running until everyone accepts that Bitcoin will not be going anywhere?

Quote

but it's expected that they will be taking profits from time to time, what's the point of investing if you never sell? And if they will use Bitcoin directly to purchase something, it still counts as "sell".


HyperBitcoinization. Some investors don’t think the same as plebs like us. Ask yourself, “why did Satoshi invent Bitcoin?”
3470  Economy / Speculation / Re: Parabolic blowoff top or Rounded top on: September 04, 2021, 11:35:55 AM
Frankly, I would not be surprised if Tesla, Microstrategy, or even Grayscale sells at the end of this year, but the question can be determined where the top will be. Personally, I see that any target above $10,000 is considered a top and it is dangerous not to sell at that top, and therefore an 80% correction will lead us to the previous percentage. It is 20%, as the price has never been said below that level.

Generally, the higher the price above $10,000, the higher the probability of an 80% correction.


Frankly, I believe you’re wrong, especially with Microstrategy. Do you actually believe that they bought Bitcoin to simply trade it back to fiat like some of the plebs like us in the forum? Plus why would they wait until December and panic sell like the plebs? They should be selling NOW.
3471  Economy / Speculation / Re: Bitcoin, I salute your final ATH. on: September 04, 2021, 11:19:01 AM
I don't know why but I feel like this thread be occasionally be bumped so when the prices start breaking the current ATH, we will be able to celebrate it in this thread so @proudhon can see how wrong he/she is and just to add insult to the injury.


i think youre missing the whole point of proudhons game.


But what is proudhon’s game? There’s nothing he can do anymore, especially not move the price of Bitcoin with his trolling. I believe he was one of those OGs who held more than 1000 coins, but who sold too early. 7 digits would have made him a billionare.
3472  Bitcoin / Bitcoin Discussion / Re: Japanese financial regulator considers imposing stricter crypto rules on: September 04, 2021, 09:06:42 AM
Stricter on whom? On the crypto related business or on the consumers? Japan has imposed 55% tax on crypto gains already since 2019. What could be more stricter for the consumers?

Not "consumers" but "traders". The tax is also targeting the profit that the traders are making from trading cryptocurrencies, some of which is massive amount of profit which paying a high tax on it won't even bother the profit maker.

Other than that Japan has 0% tax on bitcoin payments. In other words a merchant or a customer who are using bitcoin for payment pay no taxes whatsoever while they have to pay taxes if they accept fiat.


GOOD LAW. Haha. Many plebs like us should stop “trading”, and start encouraging each other to buy and HODL. Those active trading plebs should accept the fact that they will only lose their Bitcoins to the 10% of winning traders.
3473  Economy / Economics / Re: El Salvador retirees protest against Bitcoin as legal tender on: September 04, 2021, 08:51:13 AM
It doesn’t mean that if what the state/government is forcing you to use is Bitcoin, it’s an automatic “OK” decision. The point was no state should force Bitcoin on ANYONE, but let the people use it for its merits.

Yes but my point was that no state should force Fiat on anyone either, that's what they do and I don't see many people complaining about it. I don't see people using the Fiat for its "merits" either, apart from the fact that this is what is accepted as payment.


Then do you agree with me when I said that El Salvador’s Bitcoin Legal Tender Law should NOT force users to accept Bitcoin? Because you posted something that questioned why those people were protesting.

Quote

Did I say “massive” protests? I said it was growing. Pictures shown were from different parts of El Salvador.

No, you didn't.

Besides, it seems to me that protests will be closely linked to the price. If it goes up a lot, no one will protest, as soon as there is a drop, there will probably be protests again. It shouldn't be like that, and Bitcoin should be valued for its intrinsic properties but it seems to me that's what's going to happen.


Then there will be protests every week? Hahaha.
3474  Bitcoin / Development & Technical Discussion / Re: How to give btc users no transaction fees. on: September 03, 2021, 09:20:12 AM
Quote
To create/broadcast 1 transaction, you need to perform PoW
That's terrible
I think he meant “To confirm a transaction”.

To be precise, you need to confirm 2 transaction. But IOTA community often refer it as PoW since it took few seconds to minutes (depending on decice you use). The goal of PoW on Bitcoin and IOTA quite different, where PoW on IOTA is designed to prevent/reduce transaction spam.


Then instead of a “blockchain”, it’s a “transaction-chain” with individual transactions using Proof of Work as a spam prevention mechanism. That’s not free, and what are the incetives, plus what determines which transaction goes first? How to prevent reorganization of transactions?
3475  Economy / Trading Discussion / Re: P2P Crypto Trading - Which Platform Do You Use & Why? on: September 03, 2021, 08:42:22 AM
For me, it's Binance, pretty easy to use and most of the mode of payments are available in my country so I guess that wrap things for me. Plus, it's the one that's used by many people in the crypto Facebook group that I'm in.


I believe that’s one of the best places to start, and form good/trusting relationships with other fellow Bitcoin users for direct P2P trades without the need for centralized third party. Is the group invite only? Cool
3476  Economy / Economics / Re: El Salvador retirees protest against Bitcoin as legal tender on: September 03, 2021, 08:29:34 AM
The protests are growing in support.



That is a DEPRESSING picture. But OP, you’re wrong. They are NOT “protesting against Bitcoin”, they’re protesting against the laws that FORCE them to accept Bitcoin. I already said it in another thread that accepting Bitcoin legal tender is OK, but forcing the people to accept it without giving them the right to say “NO” will be a problem. El Salvador should let Bitcoin be used in its own merit.

I don't agree with that. In every country in the world they force us to accept Fiat, they force us to pay taxes with Fiat, so for a country to do the same with Bitcoin seems great to me.

And the photo you put is a laugh, it is not the first one I see of "massive" protests and there's hardly a soul.


It doesn’t mean that if what the state/government is forcing you to use is Bitcoin, it’s an automatic “OK” decision. The point was no state should force Bitcoin on ANYONE, but let the people use it for its merits.

Did I say “massive” protests? I said it was growing. Pictures shown were from different parts of El Salvador.
3477  Bitcoin / Bitcoin Discussion / Re: Japanese financial regulator considers imposing stricter crypto rules on: September 03, 2021, 05:26:55 AM
The Honey Badger don’t care. If any government/state over-regulates or censors, then Bitcoin will simply fill other inefficiencies in the economy, in ANY economy/market, legal or illegal. The usefulness, and the NEED for Proof of Work in Bitcoin will be in display. Cool
3478  Bitcoin / Bitcoin Discussion / Re: Bitcoin mining is not profitable enough! on: September 03, 2021, 05:12:08 AM

Correct me if Im wrong!


I don’t know about the calculation, but the opinion that miner profitability would be a problem when the block rewards are too small is a known problem. I asked the same question before, if the Core Developers would change the rewards structure without increasing the supply cap through a hard fork. But it was ignored and viewed as “stupid”.
3479  Economy / Economics / Re: El Salvador retirees protest against Bitcoin as legal tender on: September 02, 2021, 11:16:50 AM
The protests are growing in support.



That is a DEPRESSING picture. But OP, you’re wrong. They are NOT “protesting against Bitcoin”, they’re protesting against the laws that FORCE them to accept Bitcoin. I already said it in another thread that accepting Bitcoin legal tender is OK, but forcing the people to accept it without giving them the right to say “NO” will be a problem. El Salvador should let Bitcoin be used in its own merit.
3480  Economy / Speculation / Re: Buy the DIP, and HODL! on: September 02, 2021, 11:03:48 AM
Bitcoin ready to surge to a new ATH. Did you sell the dip, or buy the dip, or did you DCA? Listen to your Uncle JJG. Many many years from now, you will either regret that you didn’t listen, or you can proudly tell your grandchildren how you had fun becoming rich by HODLing and shitposting. Cool
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