Yeah, you are right. It is too bad that Okung lied about it or someone lied to him about it. He is a big bitcoin supporter though. |
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Carolina Panthers offensive lineman Russell Okung has fulfilled his goal to be paid in bitcoin.
Okung will become the first player from any major U.S. sports league to receive a portion of his salary in bitcoin, according to NFL Network. Okung, who is owed $13 million in 2020, will receive half of it in bitcoin as part of a partnership with a Bitcoin company. https://www.foxbusiness.com/sports/panthers-russell-okung-will-become-first-nfl-player-paid-bitcoinHe seems to be vocal about the benefits of bitcoin, "life, liberty, and #bitcoin". I suspect he would've preferred to have been paid half that in bitcoin back in September, October, or November given the increase in fiat price since then. * Vocal, see, e.g.: https://twitter.com/RussellOkung |
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There are many countries where bitcoin is not accepted legally, so how do you use bitcoin in that country? Usually if you raise the level of bitcoin use in that country then you may get into legal trouble.
So how do you use your earned bitcoin in that country.
Save it and keep it to protect yourself from the control freaks running that country. That would be my advice. Just don't spend it if it will get you in legal trouble, but it will give you an escape route if the statists in charge there clamp down further on people's freedoms. |
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I already sold out all my Bitcoins, and other crypto.
I don't want to risk. i would buy Bitcoin again when it visits $6000 again, maybe next year.
What about you?
I have (and have had) faith in the long term benefits of bitcoin and that more and more people will realize them. I would be surprised if it ever gets down to 6K again - it could happen, just seems less likely with every passing day. There are still people who wanted to buy "when it gets back down below $1" or "below $30" or "below $100/$1000/$2000" and enough people realized that (a) bitcoin is getting more and more solid and likely to remain so as time progresses (e.g. 2010 or 2013 it was much more experimental than 2020), and (b) more people are coming into the market to protect themselves. Every new high there are people say they'll rebuy when it gets to $X again, most don't or it never gets down there again. There are no guarantees of course, but every year that bitcoin survives increases the odds that it will be a long term success. |
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...
Honestly, I am one of those who regret that I did not buy and hold when the price was still low, also due to lack of adequate investment. So next time I will not hesitate to buy and hold it. I just hope I have enough money to buy when its value goes down again.
...
The funny thing is, I remember reading here (and on slashdot) before it hit dollar parity that "the price was high." People were talking about "when the price goes back down to $0.10 or $0.50" then they'd buy. Then at dollar parity, people said pretty much the same thing: "I regret not buy when it was still low [e.g. below $1]" and "the price is so high" and "it will drop below $1 again and collapse since it is a ponzi/scam/you name it.". Ditto at ~$10, $30, $100, $1000, gold parity, $2000, $5000, $10000, and now at $25000. Every time it is the same thing. No one knows the price direction in the short term from here, it is just market timing which rarely works unless you are lucky. If usage continues to grow both as a transactional vehicle and asset class, the price will follow. Bitcoin's future gets brighter with each person that realizes the value proposition. In X years will people be looking back and saying "I wish I had bought when the price was so low at $10000 or $25000"? Probably if corporations and others keep using it to protect themselves and their shareholders. Everyone who bought or mined any bitcoin prior to a few days ago has a profit (huge, medium or small). The question is, did the people who at $20000 in 2017 and who were lamenting how they wanted to buy at a lower price and would do so, actually buy at $3000 in March of 2020 or did they hesitate again? Most probably didn't buy. |
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I've been thinking, it's now very scary to buy bitcoin, as the bullish movement is at an unexpected level.
When do you think bitcoin price will start falling?
What are the signs to watch out for?
No one knows - if anyone knew when it would start falling, they'd be Nostradamus. Who thought it was unexpected? Eventually as more and more people realized the uses, it seemed pretty expected that the fiat price would rise along with it. Will there be ups and downs along the way? Sure, it has been like that since 2009. The keys are: 1. Only invest what you can, 2. don't borrow, 3. don't keep your coins on an exchange (unless it is really reliable, and even then...), 4. Wait -give it time as even more people want to protect themselves from inflation, confiscation from statists/authoritarians etc. |
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To me it seems as if some people try to cause a panic by attempting to sell a (relatively) large number of coins in bulk. The market seems different than in the past in that it is more dominated by larger entities that are buy and intending to hold, not buying and with the intent to trade. This is good because it brings more stability, at least compared to years past.
Whereas someone dumping 50 coins at the market price previously might have cause more people to sell, now it is a buying opportunity for people who are amassing larger holdings of coins.
I hope that it continues and institutional uptake and usage keeps increasing. Certainly people who want to protect some assets should be buying here - and certainly at lower prices in the Spring of 2020....on January 1, 2021, hindsight really will be 2020.
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Is it really possible to 'Sell High and Buy Low' in this bull run? First I sold some at 19600 hoping it will pull back before crossing 20k and I will buy back at 'LOW'. It never pulled back. Then I sold some again at $25k milestone, hoping that it will pull back which never did. I then sold some at $25800 hoping it will pull back before going further. And again it never pulled back. BITCOIN is just going ATH after ATH. BTC is setting new ATH every day, if not every hour  I stopped selling now  It's not like I am complaining, far from it! I am enjoying every bit of it. But how can we really follow the mantra of 'Sell High Buy Low'   Just don't sell anything until $500k+, then only a little. |
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I reread the introduction - but I still don't understand what is the reason? Is the author not saying something or deliberately omitting some nuances? Perhaps the bank was problematic, but the author decided to ignore the warnings? Perhaps the counterparties were not clean on their hands or fell under financial monitoring, which they also always inform about? There must be real reasons and grounds for blocking funds. Just like that "because we wanted it" can only be in countries with totalitarian or criminal regimes. Can the author publish funds blocking protocols, official letters? It will be transparent, understandable and open ... And this looks one-sided
governments and banks can steal at will buddy, better get with the program. In fact, after making a deposit at a bank it is no longer considered legally your money, it's an obligation on the bank to repay, i.e. it is a loan. This is what all these "bail-in" laws have been put in place for, "The Great Reset" is coming. Some stupid people have too much money loaned to the banks ... and the stupid governments have too many debts to pay off after wasting it on all manner of hare-brained (socialist) schemes. Match made in heaven. Somewhere I may agree with your thoughts, but not everything is so bad and a little wrong  For example, in my country there is a so-called "deposit guarantee fund", which, albeit not fully, but insures such situations. The meaning of this fund is that the state fund accumulates funds at the expense of the same commercial banks, and guarantees that at the expense of this fund, if the bank cannot fulfill its obligations, an amount of up to $ 12k will be paid. This, of course, does not compensate for a $ 50k deposit, but most depositors do not keep such amounts on deposits. And what happened in Cyprus is a reaction to the criminal acts of the government, the government that the people themselves chose and allowed to bring the economy to such a state. I will say this - I have been to Cyprus often (as a tourist), so the population there is quite lazy, although in their situation they would have to try harder and work better. But all the time they were waiting for handouts from the EU, aid, loans, i.e. waited for someone to solve their problems for them. The result is quite predictable, and private businesses suffered by inertia ... I have to agree with this, although as you note, the guarantee fund wouldn't cover this since it was the government that imposed the seizure. I think most people here would agree (as does the OP in the thread) that if the OP had held his assets in bitcoin, the government couldn't have seized it. |
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After the success spending of $1.1b on Bitcoin this year 2020. Microstrategy now holds 70,470 Bitcoins. Scaramucci of skybridge credited “Michael Saylor" CEO Microstrategy for inspiring him to start his Bitcoin funds, which he invested $25million on Bitcoin recently. Could this help the market capitalization and trigger a bullish trend? If after the next halving in 2024, do you think more companies will join the likes of Microstrategy and Skybridge to take invest on Bitcoin in a large amount? Let us share our thoughts, Thank you. Source: https://www.coindesk.com/scaramuccis-skybridge-invested-25m-in-new-bitcoin-fund?amp=1&__twitter_impression=trueI don't know why they would wait that long, e.g. until the next halving. If they are convinced of the value of bitcoin, they'll do it sooner vs later. |
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Hello Bitcoiners!
Marry christmas to you all! wishing you the best for this new year to come.
Our beloved Bitcoin just made a new ATH and it's now playing in 22-23k range. That made me think about this question:
What will your reaction be if BTC reaches 500k usd or 1M usd in the future?
These new ATH's made me stop forecasting for these days and think about +20 years.
I always have linked Bitcoin to a global financial crysis, i don't know why but we might see some damage to some countries soon because of this unexpected growth.
Share your thoughts about Bitcoin/ The future of the world.
My reaction will be to think that it will be getting close to value parity. e.g. it will be close to reaching it's true objective value. Whenever (if) bitcoin grows another 1.5 to 2 orders of magnitude it will likely be closer to a stabilization point. It should become less volatile because many people will be using bitcoin for long term asset protection or transacting in bitcoin instead of cashing in and out. Given the current number of people or companies etc who currently own bitcoin is so low, the market is there. When people realize even a 1% allocation will help protect themselves and their assets, another 1.5 orders of magnitude seems small. The number of orders of magnitude in the fiat price that bitcoin has experienced so far is huge. Another 1 or 2 seems small in comparison, particularly when you get people (a) investing in it for long term or (b) buying it so that they can use it and stay in it as compared to short term traders. The percentage at that point that will be available to be traded will be miniscule. |
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Bitcoin can help protect you and other people from the ravages of a financial crisis. That is protect you from the effects of inflation, confiscatory tax policies, and protect you from things like currency controls among many other things.. In short it can help protect you and your financial privacy which the authoritarians around the world don’t want people to have.
If a sufficient number of people protect themselves with bitcoin, then it can indeed help the world recover from a crisis because they will be free to act and have the assets to do so.
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I am sorry. I recognized I was mistaken basically since starting posting here. Thanks for pointing that out to me and from now on, I will use that format. Everyone on this board completely derailed from those guidelines long ago actually. I will do my best to properly format the title from now on. I hope you will excuse my careless reply written above. No big deal. :-) All the best. |
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Thanks for sharing this news and I agree with your comment. On a different note, allow me to suggest how to properly post in this section There is no need to put the source in the headline. If there is not enough space try to be creative. In your case I would have used the following headline: [2020-12-21] Why betting on BTC is harmful to the U.S. Dollar  Thanks for the note on "properly posting". However, prior to doing so, you might want to read the sticky at the top though since you are incorrect. The expected post format is described in it, even in the subject. It says: "POST FORMAT: YYYY-MM-DD SITE - HEADLINE"with a discussion here: https://bitcointalk.org/index.php?topic=246823.0The site is expected. Likewise, the headline from that site is expected. I am not sure where you saw something else for this section, but the number of people who either ignore the 2nd sticky item in the Press section or choose to ignore it is staggering. No brackets, including the date, site and headline from that site. People ignoring it and doing their own thing has been going on pretty much since this section was created as you can see from the thread linked to above. |
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Ruchir Sharma, chief global strategist at Morgan Stanley Investment, says evolving blockchain technology has led to the growth of bitcoin and as more people invest in the cryptocurrency, it can harm the U.S. dollar and weaken democracy. https://apple.news/AsIjmR1UeQb-AMiZXiMGGDgHe mixes cause and effect. It isn't "betting on bitcoin" that is harmful to the US dollar (or any other potential reserve currency), it is the policies of extreme money printing that all the central banks are engaged in that is harmful to all fiat currencies. Bitcoin is a tool to protect yourself and the product of your life from bad policies engineered by elitist authoritarians around the world. He kind of touches on that in the video, but not completely. Any form of competition for sound money is a good thing. Any form of money that lets people protect themselves from looters is positive. It is like saying chemotherapy is bad for oncologists because it might hurt their practice if someone is cured. Honest doctors would be fine with that since they want people healthy. Dishonest ones would prefer to keep the cancerous money printing going and then complain about a treatment. |
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Why betting on bitcoin is harmful to the U.S. dollar: Morgan Stanley's Ruchir Sharma Ruchir Sharma, chief global strategist at Morgan Stanley Investment, says evolving blockchain technology has led to the growth of bitcoin and as more people invest in the cryptocurrency, it can harm the U.S. dollar and weaken democracy. He joins 'Closing Bell' to discuss. https://apple.news/AsIjmR1UeQb-AMiZXiMGGDgHe mixes cause and effect. It isn't "betting on bitcoin" that is harmful to the US dollar (or any other potential reserve currency), it is the policies of extreme money printing that all the central banks are engaged in that is harmful to all fiat currencies. Bitcoin is a tool to protect yourself and the product of your life from bad policies engineered by elitist authoritarians around the world. He kind of touches on that in the video, but not completely. It is like saying chemotherapy is bad for oncologists because it might hurt their practice if someone is cured. Honest doctors would be fine with that since they want people healthy. Dishonest ones would prefer to keep the cancerous money printing going and then complain about a treatment. Any form of competition for sound money is a good thing. |
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How the hell isyour government even able to get a hold of your private assets? Like, this is eally brutal man. You working your ass off to reach a certain quota yet here they are taking everything like they are gsngsters in a dark alley. This not only would put a bad image in Cyprus's Name but in the whole EU and how they manage things. Most people hold them in high regard and then news like these pop out of nowhere.
All governments can do this if it's deemed necessary. Pretty easy to make it legal if it isn't so already. Here it's not even really the government, banks were going to fail, the only way to save them was a haircut. In most EU banks there is an amount guaranteed by bank (for example in France 100000€), if you have more money in a bank, it isn't protected. Exactly. There isn't a government in the world today that wouldn't seize (steal) everyone's assets if they decided it was necessary. |
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In 2018 we saw drops down to ~2900 and recently we dropped to around $4000, we're now already 600% up from the $4000 figure. I don't see $250k being completely out of reach by now, since an extra move as big as we've seen ever the past few months would take us to $120k.
(This is just a curious evaluation I don't want anyone trading based on this alone - it's normally not the best time to buy when everyone's bullish or if it is it's riskier to do).
Buy when there is blood in the streets. Be “fearful when others are greedy, and greedy when others are fearful.” |
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Was that price the correction or are we expecting it to hit 20K?
No one knows. If projections are accurate, in the long term, whether you bought at 20k or 23k won't matter. Trading and market timing are rarely successful over long periods of attempting to do it. It didn't help that Grayscale halted new Bitcoin Trust inflows (it happens sometimes). [ https://www.coindesk.com/grayscale-halts-bitcoin-trust-investments ] Craziness with the coronavirus in England didn't help. So those are likely some reasons why there was a drop today, but everything is really just a guess. |
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A few things to note:
** 2nd largest ON Paxful. NOT overall
** " using Bitcoin the right way, through decentralized and peer-to-peer platforms" - that's the thing about a decentralized, permissionless currency, there is no "right way" or wrong way. Anyone can use it however they wish. I do agree that for many things peer-to-peer is desirable, but "right vs wrong"? I don't think so.
Everything else considered, ANY use is good news and the more people using it the better, but the headline is a bit misleading.
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