|
banks existed for 500 years. their business model is to allocate our money over space and time. for 500 years there was no better way to send money to someone than using a bank. it became so embedded in our lives and minds that banks are custodians of our money that we started to believe it's natural that they keep&handle our money. now, with bitcoin achieving digital scarcity, that 500 year old business model is threatened. with bitcoin and some more adoption the "be your own bank" meme is true.
but... as mentioned by capslock, that does not mean they go away tomorrow. ever since desktop publishing the paperless office did not happen. there is the digital web with news sites, but you can still buy a printed newspaper. there are ebooks, but lots of people (like myself) prefer analog books.
if something was dominant for 500 years it will stay another 50 years even with business model gone digital and p2p.
|
|
|
|
|
in his worldwide bestseller "Sapiens - A brief history of humankind" (which is a great book, that I can deeply recommend, even for historians) Harari explains why our ability to cooperate with strangers to build kingdoms and other large entities was an important driving force of history. shared beliefs (or intersubjective truths) like religions and money were the tools humans used to cooperate. progress was happening but was relatively slow. then came the invention of limited corporations (yet another shared belief/intersubjective truth) a few hundred years ago. since then we treat limited corporations as legal entities that can be sued and held liable for their actions/products. (before that the liability was always on the founder/owner and that crippled any progress for millennia.) Harari argues that it was the invention of limited companies that brought all the economic progress of the last couple of hundred years. he writes it was capitalism via limited companies, technology and science that were the main driving forces.
bitcoin is on its way to deliver another big leap forward: since the invention of the bitcoin consensus algorithm there now exists an entity that not only nobody is liable for, but nobody owns and controls it. and this algorithm is the first entity in history that you as an individual or through a company can sell energy for money directly to it. no permission needed, no license, and it does not matter from where or how you do it: if you deliver energy towards the consensus algorithm, it will pay you money and it cannot and will never cheat or behave unexpectedly. it is globally automated energy-for-money trading that anyone can participate. on a global scale, 24/7, all year long the algo will pay everyone that delivers energy.
the energy sector will transform towards much greater efficiency, energy can be converted directly to money.
this is big.
|
|
|
|
|
monetized value
value has been residing in the analog world since value existed. since the historical process of digitization started in the 20th century it was only information that got digitized. which already changed the world, changed our everyday lives and our lives as a whole. everything that got digitized transformed into something that could be utilized orders of magnitude better compared to its analog state. the velocity of digital information dwarfs anything analog. digitization today is the equivalent of industrialization of the 19th century, a true world changer.
I am not saying that digital stuff wasn't valuable or valued before 2009. software vendors had and have ways sell digital products for money, that is not the point. any transformation of value itself to the digital realm can only happen through a vehicle that possess digital scarcity and bitcoin is the only digital scarce asset known so far. with the invention of digital scarcity in 2009 it is now possible for value itself to migrate into the digital world.
monetary value is just information. no one knows today how much of the analog monetary value will end up getting digitized. how much analog information is moving around today? how much went digital?
there is trillions and trillions of analog monetary value. there are only 21 million digitally scarce bitcoin. this will be fun to watch unfold as a hodler of bitcoin.
|
|
|
|
You would think an MIT grad and subsequent computer simulations modeler would've understood Bitcoin back in 2013.
I'm no MIT grad and I got it almost immediately back then.
Hell within a few days of research, I completely understood how groundbreaking a breakthrough it was, and how it would fundamentally change the financial world.
lots of really smart IT guys dismissed bitcoin because they knew that nothing digital on the web would ever be safe. I once talked to an executive board member of the biggest German IT company SAP. He heard me mentioning bitcoin and he started to make fun of me, telling everyone his teenage son was into this crab. I told him he should stop laughing and start listening to his son. |
|
|
|
My only question is why did they wait this long? Why weren't they buying this amount of bitcoin at a fraction of today's price back in 2013? Surely they knew about it then, they are an IT company. Yeah, my thoughts exactly. At one time you could have those coins for the price of 8 pizzas, and have a piece left for next morning... Better late than never, though. Also applies to many of us, unfortunately. that one is easy to answer: https://decrypt.co/38604/microstrategy-ceo-predicted-the-death-of-bitcoin-years-ago  edit: paashas, i hate you! edit2: paashas, that was a joke, please don't delete your post. you were faster and also used the original source. I apologize - it was really meant funny  |
|
|
|
|
it is an interesting endevour to think about the strange relationship between bitcoin, "blockchain" and "crypto". we all know that bitcoin is a scientific breakthrough and the first technology to have accomplished digital scarcity. since everything that becomes digitized enters a new dimension of usability it is no rocket science to expect an appreciation in price of the one and only truly scarce token that was able to digitize value for the first time in history = bitcoin market cap will rise.
then came the shitcoiners, copy&paste the open source bitcoin code, change some arbitrary features (for example: faster block time), declare bitcoin is old tech and try to sell you their centralized scamcoin for bitcoin, yelling "tokenize everything", dismissing that only bitcoin is digitally scarce and call everything the you can bribe coinmarketcap.com into listing it a "cryptocurrency".
then came the "blockchain-not-bitcoin" marketing geniuses from the legacy financial space, declaring "blockchain" is the tech behind bitcoin (which it isn't, since blockchain is just a database structure) and further declare blockchain will change the world, yelling "tokenize everything", dismissing that only bitcoin has achieved digital scarcity and that digital scarcity cannot be pegged to the physical world.
the weird thing is that one side has created 6000 tokens with no use case (other than scamming) and the other side has come up with thousands of use-cases but not a single working token (or "blockchain" product) with real demand in the business world. that fact alone should should get the scammers and their targeted prey wondering.
not sure if there has ever been a new tech that was so profoundly misunderstood. there is no "crypto", there is no "blockchain-tech" there is only bitcoin, the rest is either a scam or a technical/economical shitshow or - in most cases - BOTH.
|
|
|
|
|
$11200 incoming. today? now?
|
|
|
|
A.Pompliano talked Jim Cramer into investing 1% of his portfolio into bitcoin. https://podcasts.apple.com/us/podcast/383-jim-cramer-becomes-a-bitcoin-bull/id1434060078Pompliano plans to release a new podcast episode on Monday, 14th September, to feature how he managed to convince Cramer.
Cramer is one of the most respected and recognized individuals in the financial media sector, hosting the famous “Mad Money” show on CNBC media company.
Bitcoin Investment Hopes Rise
Cramer’s relationship with the top cryptocurrency has been quite erratic. In the past three years, he has been sending mixed signals concerning Bitcoin. In June 2017, Cramer claimed that Bitcoin’s price could hit $1 million. But he has also been critical, calling Bitcoin an "outlaw currency".
When Bitcoin was approaching its all-time high of $20,000 in December 2017, Cramer made a prediction that the launch of Bitcoin Futures by Chicago-based Cboe Global Markets Inc., would “annihilate” the largest cryptocurrency.
After Bitcoin fell below $6,000 in August 2018, Cramer said that the tide had turned against the cryptocurrency. He added, “I’m not saying its time has passed but there is a notion that the sun seems to be setting.
https://blockchain.news/news/cnbc-jim-cramer-changes-mind-buying-bitcoin |
|
|
|
|
200 btc sell wall spotted on stamp @10775
|
|
|
|
EU-Kommission will Kryptowährungen nicht verbieten
Trotz massiver Bedenken einiger Euro-Länder will die EU-Kommission private Kryptowährungen wie Facebooks Libra nicht von vornherein verbieten. Seine Behörde wolle in der Frage „verhältnismäßig“ vorgehen, sagte Vize-Kommissionspräsident Valdis Dombrovskis heute beim Treffen der EU-Finanzminister in Berlin.
„Kryptowährungen bieten viele Chancen. Und wir wollen Innovation durch Regulierung möglich machen und nicht verhindern.“ Die EU müsse offen für diese Innovation sein.
Strikte Regulierung bis hin zu Verbot gefordert
Deutschland, Frankreich, Italien, Spanien und die Niederlande hatten vor dem Wochenende eine harte Regulierung und notfalls auch Verbote gefordert. Der deutsche Finanzminister Olaf Scholz bekräftigte heute erneut, die Minister seien „fest davon überzeugt, dass privatwirtschaftliche Kryptowährungen keinen Sinn“ ergeben und „notfalls auch verboten werden“ müssten. Die Ausgabe von Währungen sei in der Euro-Zone Sache der Europäischen Zentralbank (EZB).
Bei digitalen Währungen sind eine Reihe von Anbietern am Start. Eines der bekanntesten Projekte ist die Kryptowährung Libra des US-Onlinekonzerns Facebook. Er verspricht den Nutzern, das Einkaufen und Geldüberweisen im Internet mittels Libra so einfach wie das Versenden einer Textnachricht zu machen.
https://orf.at/stories/3181101/So wurde das von den Ösi-News publiziert. wesentlich differenzierter und weniger scary. "Privatwirtschaftliche Kryptowährungen" lehnt Olaf Scholz also ab. So gesehen müsste er fast alle shitcoins ablehnen. einen ausgesprochenen Libra Gegner als Finanzminister ist imho nicht das schlimmste.  |
|
|
|
In der Originalmeldung bei Reuters ist nicht von Bitcoin die Rede. Dort wird auch von "privaten Kryptowährungen" gesprochen. Anscheinend geht es hauptsächlich um Libra und ähnliche zentralisierte Coins. Da ist es ja schon länger kein Geheimnis, dass die EU dagegen ist (oder zumindest "präzise Regeln" fordert). Mich würde trotzdem interessieren, was in dieser Erklärung steht. Leider ist diese nirgends verlinkt. Kurs: unbeeindruckt, dümpelt weiter knapp über 10K. PS: Folgendes aus dem Presseunterforum wird sich auf dasselbe beziehen: https://www.sueddeutsche.de/wirtschaft/libra-eu-kommission-1.5028640 . Auch hier steht nichts zu Währungen wie Bitcoin, sondern hauptsächlich zu Stablecoins (auch wenn im Artikel nicht klar wird, ob auch zu Bitcoin neue Regulierungen angedacht sind). Für Stablecoins wird demnach z.B. ein Mindest-Eigenkapital verlangt. ich war auch erst mal erschrocken wegen der headline im manager magazin. habe mir heute morgen mal das EU Dokument angesehen, welches Grundlage dieser Meldung war: https://www.europarl.europa.eu/RegData/etudes/STUD/2020/648779/IPOL_STU(2020)648779_EN.pdfmeiner Meinung nach sagen die 5 Finanzminister, dass sie "global stable coins" (also Libra) eher verbieten wollen (also:nicht zulassen) bevor es keine einheitlichen EU regeln gibt und libra dann einfach kommt. von bitcoin ist diesbezüglich nicht die rede. wenn von bitcoin die rede ist dann leider immer nur im Zusammenhang mit Terrorfinanzierung und Geldwäsche. das ganze Dokument wimmelt von verweisen auf eine australische studie wonach 50% aller bitcoin Transaktionen illegaler Natur wären.  |
|
|
|
I can't believe SJW rot has infiltrated Bitcoin Core, to the point they ACKED a merge to change "blacklist" to "blocklist".
For Bitcoin.
A blockchain.
...
we should fight back and stop saying blockchain but using blackchain from now on. To get even with the usage of the word „whitepaper“ 🤪 |
|
|
|
 Will you miss this year 2020 or would like to forget it ? Are there good times ahead Wait, this isn't 2025 ? Damn, i landed in the wrong year. Damn that Dr. Jones eh, have any of you seen anything about 12 monkeys ? I did find the virus, just not those monkeys  Was 2025 still considered „early“ in bitcoin from the future you came from? |
|
|
|
I bought bitcoin with the amount of $150 with the market price of the coin 11.3k market price and I'm trying to take investment because there is a chance that the price goes up into 15k.
Right now I'm seeing the price drops over 10k and continuously going down and this is not a good shot for me right now. The only choice is holding and wait again for another pump.
Just want to share my cruel mistake lol.
the first bitcoin I bought went down 90% in value. I was thinking it was a very ver very bad mistake back then. it took the price 2 years to climb back. you will have to wait maybe 2 weeks or - if things go a bit mad - 2 months. you are doing good, buying at local tops is no cruel mistake in bitcoin. even on a multiyear blow-off top it is no mistake. just adding to 600watt here. as long as you can afford to lose it youre fine. that should be a given. i started mining at $10. it went to $35. yes! then.. down to $2 for a loooong time. a ~95% drop. but. look where we are today. tl;dr: hodl i had read about bitcoin when price was about $10 and right away decided to buy some. but I couldn't find a way to get some btc other than wiring money to the MtGox bank account in Tokyo. price rose every day and the money wouldn't arrive. and price kept on rising, doubling, tripling, etc.. on and on. the fuckin day the fuckin money was finally on my account ready to f i n a l l y buy, price was at.... you guessed it: $35 I finally bought and it felt great. when I checked my account a few hours later that same day, price had crashed. and it kept on crashing next day. and the day after.... man, that was shocking and I had no news. there was no media infrastructure, and main stream media didn't cover it and unfortunately I hadn't found this forum yet. no info, price kept crashing. then MtGox got hacked, I couldn't get to my account anymore. decided to throw everything away and forget about it. I was so ashamed I had sunken my money into this Japanese scam. price went down to $2. I had bought right the top of bitcoins first insane bull run. I could have bought 17x more bitcoin if I had bought on the day it was on $2 instead of the day I had chosen to buy. one could say that I had royally fucked this one up and I really think I did. but whining about a buying price of $35 is kinda weird. cheers to you sharing that moment. you were already mining and I was a textbook noob. cheers to all 2011ers. |
|
|
|
September 3, 2020
12:03 pm
I bought bitcoin with the amount of $150 with the market price of the coin 11.3k market price and I'm trying to take investment because there is a chance that the price goes up into 15k.
Right now I'm seeing the price drops over 10k and continuously going down and this is not a good shot for me right now. The only choice is holding and wait again for another pump.
Just want to share my cruel mistake lol.
the first bitcoin I bought went down 90% in value. I was thinking it was a very ver very bad mistake back then. it took the price 2 years to climb back. you will have to wait maybe 2 weeks or - if things go a bit mad - 2 months. you are doing good, buying at local tops is no cruel mistake in bitcoin. even on a multiyear blow-off top it is no mistake. |
|
|
|
3rd time testing $10k.... let's see... Eth at $338 ... is Defi dead?  when weekend pump? |
|
|
|
|
we will climb back to $11k soonish. and then it is decision time. we will either go through this barrier and all is good or we will get rejected. if we get rejected we will see 9k and in worst case 8k, but that is the very bearish case. I want to accumulate more, that is why I am even considering those scenarios..
|
|
|
|
Okay fellas, didn't wanted to share this in the inter web but I am drunk irl for the first time in my life (Sorry LFC )and emotions kicking in.. so sharing with you guys some good news. Somehow i feel that i am youngest fella in WO and i kinda admire some of you, to name a few love birds JJG, v8, Bob, Vap, Jo, Nutella. so letting you fuckers know that i am going to become daddy soon. Me and my partner didn't drop this nuclear bomb to our families for obvious reason, regulars might know why? but sharing here anyways because...... ...mhmm. So you did not follow the Social distancing during the covid 19 quarantine I am just come to know about this great news and i am really happy for you brother. wow, also missed that completely. congrats jsraw, becoming & being a dad is the best journey to take! well done! |
|
|
|
I can't speak for the others, but if your TA is truly backed by something other than wild ass guess then personally I would welcome it here. Perhaps in the past if you were posting bearish TA out of the blue, then it might have been taken as a bit of trolling. A non-biased, no agenda look at TA would likely be most welcome.
Apology for the messy chart, but the bright white channel is what im currently looking at, i longed at the support, bottom of channel, thinking we could go up to 10761 and get a rejection from there now  I like the dotted blue lines much better. Those proof that you actually got it: bitcoin value goes up. |
|
|
|
|
Show Posts
