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3481  Economy / Speculation / Re: Parabolic blowoff top or Rounded top on: September 01, 2021, 11:35:45 AM
OP has a point, “expect the unexpected”. Because there’s also some probability that Bitcoin’s expected “double blow off top”, a “single blow off top”, or “a rounded top” could be replaced by a continuing surge. After the pandemic in 2022, what does everyone predict would happen? I believe more BRRR money printing. Then what does Bitcoin do?
3482  Economy / Trading Discussion / Re: P2P Crypto Trading - Which Platform Do You Use & Why? on: September 01, 2021, 09:43:06 AM
Haven't used other independent p2p platforms but I am a regular user of the binance p2p services. I trusted this platform more than any other service provider because of their established reputation in this industry. However, as far as I know, a lot are using the localbitcoins - https://localbitcoins.com/.


I would also like to recommend that everyone should form good relationships with Local Bitcoin traders, or traders in any other P2P platforms so you can trade with them without using the site. This would make you more independent, or in case if you want to avoid any KYC/AML requirements.
3483  Bitcoin / Bitcoin Discussion / Re: Regulators are on next level desperate on Bitcoin and the cryptospace on: September 01, 2021, 07:17:15 AM
this is the kind of subject that doesn't need to be discussed much, the thing is quite simple: if a government creates a law that prohibits using bitcoin then people in that country just have to obey the laws


Then if everyone had the same perspective as that, and especially if Satoshi and the OG Cypherpunks had the same viewpoint as that, then in my opinion, Bitcoin and the other developments that lead to it, wouldn’t be invented.
3484  Bitcoin / Development & Technical Discussion / Re: How to give btc users no transaction fees. on: September 01, 2021, 06:59:38 AM
Iota has free transactions and very innovative. I guess bitcoin is still in the dinosaur age.

Problem is the admins like to lock threads so no free speach and the people here exist to shoot ideas down which is fine I wouldnt have that any other way but the admins shouldnt be locking threads. They should let a free discussion but they dont.


ZERO? Then what kind of protection mechanism does it have to prevent bad actors from spamming the network? Is that shitcoin Proof of Work or Proof of Stake? What kind of incentive stucture does it have to prevent from Sybil Attacks by bad actors?

The problem with people is they don’t read the SIMPLE basics of how a true decentralized cryptocurrency network works. They simply notice some faster shitcoin, and assume it’s better.
3485  Bitcoin / Bitcoin Discussion / Re: What's your opinion on Jack Palmer's thoughts on cryptocurrency? on: August 31, 2021, 11:29:06 AM
I mean, there is some truth to what he said, but correct me if I'm wrong, but isn't there anything new with what he said to anyone with decent knowledge in this space? Most cryptocurrencies being centralized, pump and dumps, manipulation, and other shady stuff and all that. In a mostly anonymous and pseudonymous industry, it's almost guaranteed to have a lot of bad actors.


I believe his tweets tell everyone it’s more than that. He has a deeper point. It’s about this entire “industry”, which he believes has become corrupted, with a kind of corruption which they have in traditional finance, copied within the Bitcoin industry.
3486  Bitcoin / Bitcoin Discussion / Re: Some fundamental questions about the Bittcoin. on: August 31, 2021, 11:16:57 AM
Thank you for your reply, but if it is not a platform, then what does it do? When you run a miner, then which data processed?

To better understand what exactly BTC is better read the whitepaper. To summarise, btc is peer to peer electronics cash transfer protocol.
Miners are running to solve a complex program and who ever solves this complex program wins the chance to write to next available block and is given reward for his services.


I believe not just the white paper, which can be very technical, but also the basic information in these links.

https://en.bitcoin.it/wiki/Main_Page

https://developer.bitcoin.org/

https://bitcoin.stackexchange.com/

OP, your questions will be answered if you go through some learning, and gain some basic understanding of Bitcoin from those websites. Once learned, I believe then you will “get it”.

Great resources, I'd like to chime in and add https://github.com/bitcoinbook/bitcoinbook!


OP, another link with MORE learning resources, https://bitcoin-only.com/learning-resources

Read them. It’s truly my belief that people who have access to the internet have no more excuse not to learn any topic that interests their intelligence.
3487  Economy / Trading Discussion / Re: Do you want to quit trading ? on: August 31, 2021, 08:28:58 AM
A shower thought for everyone. Ask yourselves and answer honestly, since you started trading, are you really good traders that you outperformed it if you merely started and followed a simple HODL + DCA strategy on the same day?
3488  Economy / Economics / Re: Bullish or nuts? Fidelity predicts $100M bitcoin in 2035 on: August 31, 2021, 08:09:55 AM
I don't know what to think anymore, until not too long ago, professional investors either dismissed Bitcoin or said it was a scam, a ponzi scheme etc. Now it seems that they are changing their minds Saylor's style. In the case of Fidelity, it's not that they have changed their mind, as they started mining in 2014, but they have just come off the hook with a prediction that a couple of years ago would have seemed too crazy to us:

Fidelity Predicting $100 Million per Bitcoin by 2035

"...the firm is putting out bullish reports on Bitcoin and sees the leading digital asset hitting $1 million before this decade is over and a whopping $100 million by 2035.

This much hopium was difficult to digest for some as one Redditor noted, “Bitcoin is not gonna reach $100 million. That would give it a market cap of $2,100 trillion. The total wealth of the entire world is $418 trillion
.”

I suppose that here they take into account inflation by massive printing, because otherwise it is simply impossible.


There were some people who predicted that Bitcoin would surge, and reach $1,000 during 2012, I believe others predicted more than $1,000 which could make anyone “not know what to think anymore. Are we back in that situation again? Cool

Expect this as many people or institution trying to became relevant or want to create a noise and get a free publicity to the bitcoin users community that's why some other like this release a high price prediction so that there name will also be mentioned for their released speculation. But lets stick to reality and  provably we will not see that price as that figures is so expensive to be bought by many people and I think the demand will get affected if the price surge so high as people cannot afford it anymore.


I too, honestly, don’t know what to think anymore. I’m not debating anything about price, how high or how low. ai’m merely saying that we might be in the same situation as the OGs of 2012.

Nonsensical prediction. Anyone can make such wild predictions. Nuts is the appropriate answer to this question in my opinion. Would you call me nuts if I predicted that BTC would drop to a $1 by 2035?

Honestly, after all the rallies and crashes over time, I learnt that the current price of BTC matters more than its past price or future price(Present matters more than the Past and Future).


Yes, but if we were in 2012, we would also call someone who predicts Bitcoin will be more than $10,000 nuts too. Cool
3489  Economy / Economics / Re: Bullish or nuts? Fidelity predicts $100M bitcoin in 2035 on: August 30, 2021, 11:55:50 AM
I don't know what to think anymore, until not too long ago, professional investors either dismissed Bitcoin or said it was a scam, a ponzi scheme etc. Now it seems that they are changing their minds Saylor's style. In the case of Fidelity, it's not that they have changed their mind, as they started mining in 2014, but they have just come off the hook with a prediction that a couple of years ago would have seemed too crazy to us:

Fidelity Predicting $100 Million per Bitcoin by 2035

"...the firm is putting out bullish reports on Bitcoin and sees the leading digital asset hitting $1 million before this decade is over and a whopping $100 million by 2035.

This much hopium was difficult to digest for some as one Redditor noted, “Bitcoin is not gonna reach $100 million. That would give it a market cap of $2,100 trillion. The total wealth of the entire world is $418 trillion
.”

I suppose that here they take into account inflation by massive printing, because otherwise it is simply impossible.


There were some people who predicted that Bitcoin would surge, and reach $1,000 during 2012, I believe others predicted more than $1,000 which could make anyone “not know what to think anymore. Are we back in that situation again? Cool
3490  Bitcoin / Bitcoin Discussion / Re: Some fundamental questions about the Bittcoin. on: August 30, 2021, 11:43:19 AM
Thank you for your reply, but if it is not a platform, then what does it do? When you run a miner, then which data processed?

To better understand what exactly BTC is better read the whitepaper. To summarise, btc is peer to peer electronics cash transfer protocol.
Miners are running to solve a complex program and who ever solves this complex program wins the chance to write to next available block and is given reward for his services.


I believe not just the white paper, which can be very technical, but also the basic information in these links.

https://en.bitcoin.it/wiki/Main_Page

https://developer.bitcoin.org/

https://bitcoin.stackexchange.com/

OP, your questions will be answered if you go through some learning, and gain some basic understanding of Bitcoin from those websites. Once learned, I believe then you will “get it”.
3491  Economy / Trading Discussion / Re: Do you want to quit trading ? on: August 30, 2021, 09:45:14 AM
I quit trading back in February, a little after Elon Musk purchased Bitcoin. I took a decent loss then, which I partially managed to recoup shortly after. However, I decided that trading isn't for me, it's way too risky and unpredictable for my liking. On top of that, it was making me anxious, seeing all these ups and downs, which I understand that is the interesting part of crypto, but it would make me irritating and distressed.


That’s probably the most honest post/reply that I have read in many topics about trading in the forum. Plus why should plebs like us be trading, and adding stress in our lives? We can just HODL, and encourage others to HODL as well. Bitcoin is in a super long term cycle going to six digits. Or more? Cool



Credit to William Clemente.
3492  Economy / Speculation / Re: Buy the DIP, and HODL! on: August 30, 2021, 09:25:57 AM
It is really not easy to catch the dip levels and not to miss those chances. Because we don't know what price the dip is for a coin. We just want to make use of the chance when the coin price decreases at a high rate. For example, I guess many people bought Bitcoin when the price was at $30k. It was a good opportunity to accumulate after a big dump. Some people wanted to wait more and expected a bigger drop. But that didn't happen and they missed it.


Those “dip levels” are there during bear markets, but many people don’t take those golden opportunities to buy. Open a Bitcoin chart and zoom out to the maximum. Do you see it? We are given two years in every cycle to buy the lowest or near-lowest dip for that cycle.

I wish it's easy for everyone of us to spot the lowest price. Since that's the cycle, would this mean that we will soon see a long bear period since the market is still bullish until now? We saw bitcoin dip at $28k, but that was not brought by a long bear market, it's just a short correction that resulted in an easy bounce-back of price.


Who said we should spot the “lowest price”? We only need to know that it’s a bear market, and that it’s within a “radius” of prices. Remember the people who always annoyed everyone in the forum to buy Bitcoin with everything they possibly can under $10,000? Then $15,000? Then under 2017’s ATH?
3493  Economy / Trading Discussion / Re: Do you want to quit trading ? on: August 28, 2021, 11:30:28 AM
OP, “trading” can be a form of gambling too. 90% of “traders” are losers. In every bull-bear cycle 90% of them quit because they lost the money/coins in their accounts. Who are left? The HODLers.
3494  Economy / Speculation / Re: Buy the DIP, and HODL! on: August 28, 2021, 11:12:13 AM
It is really not easy to catch the dip levels and not to miss those chances. Because we don't know what price the dip is for a coin. We just want to make use of the chance when the coin price decreases at a high rate. For example, I guess many people bought Bitcoin when the price was at $30k. It was a good opportunity to accumulate after a big dump. Some people wanted to wait more and expected a bigger drop. But that didn't happen and they missed it.


Those “dip levels” are there during bear markets, but many people don’t take those golden opportunities to buy. Open a Bitcoin chart and zoom out to the maximum. Do you see it? We are given two years in every cycle to buy the lowest or near-lowest dip for that cycle.
3495  Bitcoin / Development & Technical Discussion / Re: Why doesn't bitcoin have a "freeze" function? on: August 28, 2021, 09:56:20 AM

That’s OK, and the system will work until it doesn’t. But people should know, and truly understand that, not your vault, not your money, and governments can lose control of the financial system. Bitcoin is a good fall back/back up.


I suppose if the us dollar ever became worthless so that people used it as toilet paper, MAYBE bitcoin could be some form of bartering value but that's just a maybe. Gold and silver would be more likely. Or other things like gasoline or food or shelter. Physical assets. Not intangibles.


Then from that that inefficiency something will be invented to make barter, and trade more efficient. In the internet, there needs to be a way to make a trade with a currency that users don’t need permission to use, that can’t be censored by an authority. It might not have a “freeze function”, but it’s enough to make your Heroine purchase from the dark market.
3496  Economy / Economics / Re: Bullish? Bankers Issue ‘Seismic’ Warning: crypto could replace USD in 5 years on: August 28, 2021, 09:42:42 AM
One thing's for sure though, they (cryptocurrencies) have shaken the foundation of money as we know it, hence even why bankers are thinking of making the switch into cryptocurrencies. It will take a while before we see crypto being issued on banks, but I think it is the way forward for our society. Also, I don't think this is a sign that bitcoin or any other decentralized crypto will take over, it's just that crypto will just be prevalent in our society and there is a possibility that bank-issued cryptos will arise.


I believe many people haven’t fully understood the consequences of Bitcoin, and cryptocurrencies. Once it has achieved more than 30% adoption from the 7 billion people living in the world, there would be less need for traditional banking. We would be paying for everything through Bitcoin.
3497  Economy / Economics / Re: Bullish? Bankers Issue ‘Seismic’ Warning: crypto could replace USD in 5 years on: August 27, 2021, 09:51:38 AM
It’s my belief that the current generation of people aged 18 to 45 would experience Bitcoin become a World Reserve Currency, but Bitcoin to replace a country’s currency? In 5 to 10 years? That’s a laughable notion.

OP, are those Bankers HODLers? Cool
3498  Bitcoin / Development & Technical Discussion / Re: Why doesn't bitcoin have a "freeze" function? on: August 27, 2021, 09:35:52 AM

Hahaha. It’s still not insured if the government, or the bank themselves enable their “freeze function” on your account. Not your keys, not your money.


Any custodial solution they could be required to "freeze" someone's funds no matter what form they are in unless and this is a big one, they keep it hidden underneath their mattress. So all other things being equal, I prefer something to be insured. That way as long as the government and bank don't sieze my cash, it belongs to me! And if the bank happened to go bankrupt the government would step in and pay me back.


That’s OK, and the system will work until it doesn’t. But people should know, and truly understand that, not your vault, not your money, and governments can lose control of the financial system. Bitcoin is a good fall back/back up.

Quote

Quote

Then what function would a “freeze feature” be of use, if the key holder is in full control of the coins?


if bitcoin has the ability to allow people to freeze things at the UTXO level (in a certain sense) then I dont see why it is such a stretch to want to be able to freeze things at the ADDRESS level. not alot of people probably using the UTXO level freezing feature but it is there.


It’s a front-end, UI issue, not a protocol issue. Ask your favorite Bitcoin wallet.
3499  Economy / Speculation / Re: Buy the DIP, and HODL! on: August 27, 2021, 07:55:06 AM
I believe no one is prepared for the insanity of the resurgence of the bull market. It will be more bullish than February. We say “Bitcoin-six-digits” like we truly believe in it, but seeing it in front of us might actually be unbelievable. What is crazy is, it might not actually be “the moon”. Buy the DIP, and?

In other words, 6 digits would hardly be any kind of crazy rise, whether we are measuring from our $30ks correction zone (a bit more than 3x) or measuring from our current prices $48,300-ish (a bit more than 2x).

But what I said was, “What is crazy is, Bitcoin at “6 digits” is might not actually be the moon”. Cool

Yes, people likely currently think that 6 digits looks BIG, just like they thought 4 digits looked BIG in 2015 when we were stuck in the $200s for most of the year, and just like 5 digits also was seeming big in just recent times.

But think of it as how high Bitcoin has reached in current market value. An experimental protocol that started its development in someone’s “basement”. It’s INSANE that the “PONZI SCHEME” lasted this long, and will last for the next generation.

Of course, many of us longer term BTC HODLers are recognizing and appreciating that likely the BTC investment thesis is stronger in current times than it had been a few years back, so even if the UPside BTC price performance potential has been reduced by already happened bitcoin price movements, there remains some additional assurances regarding the downside potential (safety) too.

And, buy the dip also might be questions about how much of a dip is sufficient this time around, and so far we have had a dip of about 7% from $50,562 to $47,100 - is the dip over?  did anyone buy this particular dip?


YES, because every seller always has a buyer in the open market, and I believe those buyers might be the billionaires taking more Bitcoins out of the plebs’ hands, and into their cold-storage again. Which could become a problem.
3500  Bitcoin / Bitcoin Discussion / Re: Regulators are on next level desperate on Bitcoin and the cryptospace on: August 27, 2021, 07:38:39 AM
He's correct in both statements. Without government greenlighting crypto, it won't get adopted by businesses, so it could only be used in informal p2p economy, which is only a small part of economy. He's also correct that a lot of DeFi is centralized, and if they are centralized, than what makes them different from centralized exchanges? If not much, then regulations could help reduce scams. 


Laughable, and stupid to say it like that. Businesses, and companies that need a “green light” to adopt Bitcoin, or “crypto”, should not be in the business of adopting Bitcoin or crypto. You’re allowing the government to censor you from using something permissionless and censorship-resistant?

So all the big and medium businesses should forget about accepting Bitcoin? Then how you expect to see any sort of meaningful Bitcoin adoption? People want payment methods that are universally accepted. People love Visa and Mastercard cards because you can pay with them everywhere. Why would people adopt Bitcoin if you can only make some p2p purchases with it or spend it with small businesses only (which is even now not a reality).


I believe it’s they’re choice whether to comply, or not. But shower thought, what would the use of Proof of Work be if your business needs the government’s “green light”/permission before it can start using Bitcoin? Then maybe your business truly has no need for Bitcoin?
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