It's adorable when someone completely misunderstands something and then tries to convince others that their flawed comprehension is some sort of revelatory truth. Particularly when they're on their umpteenth username and their spiel still doesn't sound convincing.
This appears, as you describe, that it is an attack on bitcoin. It has been a while since I have read through Satoshi's comments, but I recall him going on and on about this "attack" or that "attack", mostly attacks upon the software. It would seem that this OP is just another type of attack on bitcoin. It could be categorized as a psychological attack, rather than a computational attack. |
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First some short explanation, and then the questions.
...
why on Earth would I purchase a number "1" for $37,000 and watch something aesthetically poor? Why would I pay so much money for a single unit of a product that in comparation to gold, a sunset picture, wheat or crude oil has so low utilization capacity?
Ah, and that is your problem right there: "so low a utilization capacity". You can't see its utilizations, for some reason unknown to us, or you don't seem to have the capacity to see the capacities within bitcoin. And for this reason alone you may never accept any price for a bitcoin, let alone 40k, 50k, etc. A simple deduction. The rest of us see many reasons, utilizations of bitcoin, and so it is easy for us to see that a price of $37,000 is not all that much. |
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Just do that again and you'll have a whole bitcoin. Well, not all that stuff of all your ups and downs, that would be too much to go through again, but rather just the part that got you the half of a bitcoin.
For soon, after accumulating a whole bitcoin, you'll notice that you are much further ahead than a whole lot of others.
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I am a former employee who worked in a private bank in a remote area of my country.
...
Thank you OP for your story. It is always good to hear about what brought people to use bitcoin. Although, I am sorry to read that you went through some adversity with your financial security before you came upon bitcoin. It is too bad, like you say, that some negative experience with a financial institution is the only matter that may get people to notice bitcoin. But it does confirm that bitcoin is working as intended, as designed. And, welcome to this forum. The useful information contained within these pages is the real stuff. |
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.... the 4 year supply halvening price cycle is dead
.... long live the S-curve adoption demand super cycle Can't these be combined? Every 4 year the S-curve makes a bump up. That would be the quantized S-curve of adoption. |
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if you are willing or able, you can borrow the mobile phone of your wife, gf, child or parents for these few minutes and quickly take a photo  that's how it was in my case too, and certainly with the other two bros as well   I've heard that some people possess a new kind of device where they have separated the picture taking functionality from the phone into its own module. My sources say that this may be called a "camera" Sadly this new tech only exists in laboratories. As it always happens it'll be years before it reaches the commercial market. (disclosure: I own and often use an AE-1, somehow I can still do better with that than anything digital) |
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First: just start by learning how to install a bitcoin wallet, then learn how to use it.
--> Go to bitcoin.org ... Then select "choose your wallet". I'd recommend the electrum wallet.
Second: you'll have to choose a bitcoin exchange (to exchange cash for bitcoin, and vice versa). This may depend on where you live.
--> Here in the US we have: gemini, kraken, or binance, there are others. (stay away from coinbase)
Third: you can ignore the rest, it's just fluff and not really necessary.
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Today, on July, 31 we are glad to announce
Mooncoin Fellowship (Foundation), brotherhood of Mooncoin investors.
Any investor with any amount of mooncoins can be part of our Fellowship.
We all are interested in a well balanced model of our coin. To balance interests well, devs cannot be part of Mooncoin Fellowship of investors.
Count me in with the Mooncoin Fellowship. I am a long time holder of a decent stash of Mooncoin. So, decentralization of this coin is of prime importance. |
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I like the concept of 'laying flat'..
"It describes young people’s preference to lay flat on a couch or floor rather than working hard to make a living."
I reject the inherent bias that "working hard to make a living" is the "right" way to live. I completely agree. As I always say "it's not about working hard, it's about working smart". (I think I spend a couple of hours a week to make my "living". The rest of the time I spend it building odd electronic devices, pieces of art, some C++ projects, and heading out to create mayhem with friends.) |
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You had your chance to buy at $1.
You had your chance to buy at $10.
You had your chance to buy at $100.
You had your chance to buy at $1,000.
You had your chance to buy at $10,000
You still have the chance to buy NOW.
If you've failed all these times you deserve staying poor. No offence, but I think you had all the chances in the world. We can't make you rich by force.
lol. This comment is gold. I recall how a few years ago, maybe 2016, I spent an afternoon at a block party, talking to someone about bitcoin. ... After a while they told me they'd only buy any when it becomes more mainstream, more stable. I said, that may not happen until bitcoin hits a million. They said, ok, they'd wait until then. (I've already had a few tell me recently: "I should have listened to you back then.") |
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What asset is better?
Physical GOLD in your hand has never gone to Zero.
I wouldn't put too much faith in gold, it'll probably be worthless very soon. It may be a shiny metal, but there are other metals that are far more useful, like: copper, aluminum, iron, tin, nickel, magnesium, tungsten, among others. Gold can easily be dissolved (yet another way it can go to zero) by red fuming nitric acid, aka Aqua regia. This cannot be done to a bitcoin. It is not currently possible to dissolve a bitcoin with any known acid, this alone gives it greater value. The uselessness of gold has become more apparent as the knowledge and usefulness of bitcoin has spread. Moving forward this will continue as bitcoin's penetration increases. |
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One of Bitcoin's main strengths is it's historically unchanged and predictable supply schedule, as well as the max supply cap. You do realize though that changing the max supply totally invalidates this core characteristic, right? Not a single Bitcoiner in the right mind would support such change.
This topic does seem to be getting posted an unusually number of numerous times. By some newbies. I suspect there is an ulterior motive to spread fud. https://bitcointalk.org/index.php?topic=5320980.msg56469193#msg56469193https://bitcointalk.org/index.php?topic=5322436.msg56517591#msg56517591They may think that if they can interject a conversation about somehow changing bitcoin's hard limit, they would have succeeded in killing off bitcoin, or at least trying to kill off bitcoin. But as you point out mk4, no bitcoiner would do anything to reduce the value of what they are holding. So this exercise is folly. |
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Mathematical theory
The rationale for Nakamoto's choice.
Calculation of the number of blocks in a four-year cycle:
6 blocks per hour
*24 hours per day
* 365 days a year
* 4 years per cycle
= 210.240
Which is approximately 210,000
The sum of all prize sizes for mined BTC block
50 + 25 + 12.5 + 6.25 + 3.125 + ... = 100
210,000 * 100 = 21 million.
One forum user stressed that this equation, however, could not explain the decision made by the creator of Bitcoin, as it was constructed on the basis of already existing parameters.
To go a bit further, and try a thought experiment, a value of 84 million coins could have been used. With the calculations occurring thus: 12 blocks per hour *24 hours per day * 365 days a year * 4 years per cycle = 420,480 Which is approximately 420,000 The sum of all prize sizes for mined BTC block 100 + 50 + 25 + 12.5 + 6.25 + 3.125 + ... = 200 420,000 * 200 = 84 million. ----- With this amount of coins, and changing nothing else in the algorithm (and if my guesses are correct), the current circulation supply would be around: 74,640,000. Given a market cap of 1.07 trillion, may put the price of one bitcoin at: $ 14,373. The price of 14k is lower than the current 60k, but this only takes into account an increase in supply, it does not include the human's psychology surrounding prices of assets. That is, since the price would be lower for the 84 million capped coin, the FOMO would be less. People would have less fear of missing out over the life this 84 million capped coin since there are more coins in circulation. This effect may produce less interest, and therefore less buyers which produces an even smaller price than 14k. Yet another psychological effect on the price, is simply that a lower price gives the impression of less value. People are less willing to purchase something that has less value. This seems counter intuitive, but this happens quite frequently in pricing. One can see that having an even larger circulation number, like in the trillions, would produce even smaller prices for a coin, with even less psychological human interest, in which case it's possible to imagine that bitcoin wouldn't have taken off as it has. ----- Given the above, there is no reason to think that Satoshi did not experiment with various caps, and block reward amounts, before a final implementation of what we have now. |
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... *This will be my last post in btctalk, if people can't recognize the truth, then the consequence of ignoring the truth will be overpowering.* Oh, one can only hope. Apparently you missed this video: https://www.youtube.com/watch?v=SFK9tHzV6WAIn it, your version of "division" is explained rather well. |
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The Bitcoin vs. environment trope is total bullshit.
A widely adopted, deflationary store of value is the only thing with the potential to overcome humanities tendency to instant gratification and rein in the senseless overcomsumption we see today.
If your money is going to be worth more tomorrow than it is today are you going to blow it on some worthless crap at WalMart or IKEA? No. You are only going to spend it on things with actual value.
Bitcoin incentivizes the deferral of consumption and planning on longer time frames, as such it is the best thing to happen for the ecology in all of human history.
Thank you! Someone gets it...consuming more energy than Denmark? Bitch, Bitcoin is going to save the rainforest by stopping you from going into debt to buy useless shit. And once the oil and coal plants get wiped out, and most of the power gets generated by solar, then this whole argument becomes moot. |
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Another "banker specialist" predicting Bitcoin's death and the rise of the e-dollar Just like Paul Krugman... Economists cannot predict the future,neither "specialists" nor "nobel prize winners"   These sorts of naysayer comments happen quite often throughout history. Maybe humans should stop trying to predict whether we can or can't do something. For example, there were many that were so sure that human flight would be impossible: https://www.xaprb.com/blog/flight-is-impossible/I can state flatly that heavier than air flying machines are impossible.
— Lord Kelvin, 1895
Flight by machines heavier than air is unpractical and insignificant, if not utterly impossible.
— Simon Newcomb, 1902
The aeroplane will never fly.
— Lord Haldane, 1907
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...
Summarizing, I've always returned to Bitcoin, deep down I always knew it would become that successful, I'm trying to learn from my mistakes. Now, I'm trading several times throughout the week, managing a decent profit with each trade. There's no point in regretting what I COULD have done, but only to look forward, and what I can achieve now.
So many have made those same mistakes, me included. What really matters is to do what you have already done: to have learned from those mistakes. This is all you need to be successful. All signs suggest that you will succeed. As you have said, and to reiterate: we have no control over the future, we can't change the past, the best we can do is to modulate the present as it happens. |
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Fuckin hell lads, this shit is pretty crazy. I mean, we do tend to expect crazy from bitcoin but when it happens, it's a good feeling.
If Elon really has bought in, or is intending to, shit is going to get very very interesting!
Won't be just him though. There are thousands that are going to attend Saylor's thing. Going to be a hell of a year, I wonder what FUD they'll come up with once we brach 100k. China ban bitcoin, tether FUD,  ??. Going to be entertaining. Shit this week has been entertaining. This is needless to say but: with just over 2,000 billionaires in the world, each can own a whole bitcoin, but not every millionaire would be able to own one. (there are over 46,000,000 millionaires in the world today, and they hold about $158 trillion) Imagine how many millionaires there'll be when bitcoin is at 300k Hard to really say but, checking the top 100 richest address list there are 674,721 addresses with 1- 10 btc. If we assume that each is for one person, an even distribution of btc for each address, and needing about 3 btc @ $300k each to reach a million, we can estimate about 600k new millionaires.  (just to keep it simple, those with less than 1 btc won't be new millionaires, and those with more than 10 btc at that point will already be millionaires) 600k new millionaires out of 46,000,000 is around a one percent increase. Not much of a dent. The whole point here is just to show that btc at 300k is not a far stretch. |
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