While disturbing, I'm kinda relieved that the unresearched are chasing alts and "get rich quick" inclinations and even more relieved to not be a part of it minus the airdrops. December's BTC gains from 10-20K freaked me out a bit. I think its a great thing that the newbies think of bitcoin as "too expensive" or "already had its run". Crypto space today feels uncannily similar to the dot com boom. We all know a few of them made out really well when the dust settled. I'm thinking the current cool off period could go on for awhile still, possibly months? At least until enough are convinced alts are the way forward.  |
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BTG is gettin a little pump. .02 now on bittrex. I'm dreaming of .05
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Nice $400+ leg up. Happy above 14 and buying below 13. Youz a fickle wench bitcorn.
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...I think that if your goal was to make an interim cashing out of BTC around the value of 60 BTC at $17k, then you could have started cashing out in 10BTC increments and met the same result with an incrementalism something like this: 1)10 BTC at $14,500, 10 BTC at $15,500, 10 BTC at $16,500, 10 BTC at $17,500, 10 BTC at $18,500, and 10 BTC at $19,500...
Hindsight is a real bitch, huh ?  EDIT: Seeing BTC sink below $14k breaks my heart. I'm HODLing, and mentally preparing myself to work another quarter, aiming to exit the workforce in mid-late Q2. At least taking a wait-and-see approach and see how the market is like end of March. I waited too long and got greedy. Now I'm all despondent and stuff. Sheeit. Seriously? You were talking about cashing out 1M @ 10K? That was only 2 months ago. Put a your 60 on the block and stop it already. |
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OK, OT Story time since I haven't got much to offer on short term price direction although I have continued to buy all the way down with new fiat.
A few days ago I got a message from one of the Vietnamese restaurant owners who recently started "investing" in crypto. She wants me to come speak to her and her friends/family about bitcoin and crypto. A seminar of sorts I suppose or perhaps just Q&A. She's been pushing me to do this for awhile now and I haven't been keen on it - I don't consider myself a substantial BTC knowledge bank and feel even more inadequate to offer any trading advice which I suspect they will want. I've barely overcome my own skepticism of price movement/manipulation.
Anyhow, seeing as there is not much information available in Vietnamese, (only 1 smallish thread on this forum) and many of the folks out there are going at this without any sort of vision minus the "get rich quick" mentality, I've agreed to have a talk with the folks who are interested and share a broader vision I've come to appreciate in BTC
I feel like I need to be especially careful in this country now that BTC is not favored upon by the local government. (As of Jan.1st it is illegal to make payments for any goods or services in Vietnam using crypto. A fine of $6600-$8800 is imposed for violations.
Hopefully the translator will be suffice or I'll have to do the presentation in memes collected from the WO.
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And once again ... Satoshi was wrong.
Good to have geniuses like your Torque. Thank you for enlightening us with your wisdom.
Now ... if Satoshi was so wrong, why do not we just rewrite the white paper?
.....
Oh! Stupid Satoshi, you were so wrong.
Quit being a trite tool. It's the reason people here don't take you seriously and many have you on ignore. It doesn't matter what Satoshi originally envisioned as Bitcoin's proposed/intended usage, it only matters how the people that buy it actually use it. It saw almost nil usage as a currency even back when transaction fees were low. Disregarding transaction fees and long confirmation times, it's deflationary nature alone, combined with all the hoop jumping required just to acquire it, nearly kills it as a daily currency. It functions much better as a decentralized digital asset that stores value. That's a fact and nothing you can allude to wrt "Satoshi's original vision" can change that. Even pre-teens and teens use paper currencies around the world on a daily basis, but hell they can't even purchase Bitcoin without being 18+ yrs old and having a drivers license and a bank account first. How about that fkn irony, Satoshi? Should we add an addendum in the white paper for that too? Grow the fk up and quit making tool statements. Torque, you're wrong. People need a coin. Having a decentralized asset, outside the influence of governments, of course it is important; but for ordinary people, it is much more important to have a decentralized currency. I do not agree either that bitcoin was not used as a currency. The great success of bitcoin came from the hand of black markets. The world could see that it was a real, useful alternative, and outside the influence of governments. And if it were still cheap to make payments, I'm sure the commerce would continue to develop. Until recently, we saw an organic development of the ecosystem, in which savers, traders, commerce, investors grew symbiotically. Today, commerce has no alternative, and simply bitcoin is being used as an asset for the speculation of the new rich. I have already told my experience here many times, but Bitcoin for me and many other people, in a third world country, represents much more than an asset. And that is the vision that I always discuss, because here it is much more important to have decentralized money. The rich already have hundreds of assets with which to have fun, and it bothers me to think that bitcoin becomes one more of them. Edit:My first bitcoins I bought them on the street, without a bank account. For the other two comments of shit, I do not defend a dogma, but a vision. I like the side chains, but it seems to me that the blockchain must be accessible to anyone. I get what Torque is pointing at. Here's a quote from Andreas book that lays it out plainly and I tend to agree. "Bitcoin isn’t currency. That’s a really important thing to realize. Currency is an app that runs on the bitcoin network. Bitcoin is the internet of money, and currency is just the first application." So... considering this, is everyone right? |
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All of my friends who recently started "investing" in crypto are 50-80% in BTC and are playing the alt market for either more $ or more BTC.
I wouldn't worry about it too much. The recent influx of future hodlers will have to pass the usual "initiation rights" and whales are most likely orchestrating the whole bit. It feels much like when ETH threatened to take over BTC and the surge of new users to the market at the time. Values will come later and anyone putting significant value in hopefully has done some research. Just another wave in the market. The race to cryptocurrency is an interesting one at least.
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Sweet, just ordered 2 more, Thanks |
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Happy new year from se Asia! I saw it, the bottoms were perfect! They were grinding and spinning around a red pole just before the climb and subsequent wide spread (arbitration) . I said my goodbuys to my sub teen years. Now I gotta know, who bought that bottom!
Most I've ever paid for Bitcoin but I bought a bit a couple of days ago on the way down @ 13.6k not near the bottom but Kraken was really acting up and that's the only place I had fiat. I should have reserved some fiat for the deeper move but I did not anticipate it. That's perfectly fine, that's a sweet bottom, I'll have to settle for the slightly more (robust) bottom. Anyway they all look the same in hindsight. Almost. |
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Happy new year from se Asia! I saw it, the bottoms were perfect, no one saw it coming! They were grinding and spinning around a red pole just before the climb and subsequent wide spread (arbitration) . I said my goodbuys to the sub teen years. Now I gotta know, who bought those bottoms!
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Except this block didn't include the 12.5 BTC mining reward. I wonder...
What block number was it? I hate clicking links posted here. #501,726 |
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LAMBCHOP
I'm bmb. But I'm prepared to take full responsibility for nlc. I was his straight man for a long time, I guess. He was funny. I find that impossible to resist.  Suspected, now Who is Hairy |
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That's the game changer! Mom and Pop, get ready to swipe left! |
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Bitcoin goes down while the least suspected alts go up. What surprise? Start with FOMO, end with FUD, and repeat.
But really, the whole price psychology has little effect on hodlers who are in it because they believe in what it will become. We're still in infancy I think where whales are able to move markets at whim. Competition will come and coins will eventually distribute. This is neither the last or the greatest bull run or bear market BTC will see before we arrive at adoption. I'm not even counting on a return to $'s but a value once the petrol dollar finally goes tits up and coin value is based on real world use. That's the dream, right guyz?
On the one hand, I agree with you, but on the other hand, who fucking cares? hahahhaha a bit of a contradiction there. Before you get your panties in a ruffle, Icygreen, let me back up my premise with we would need to have fucking well over $100 trillion BTC market cap before what you are saying makes sense. That is about a 400x price increase from our current status. Sure it could happen, but we have a long fucking way to get there. We had a 78x increase in the past 2years, and yeah, that is all fine and dandy - but we are not quite yet sustained at that 78x increase because we have a bit of a dip here. Maybe what I am saying that there is not really a problem to keep that kind of end goal in mind, but we are a long fucking way from getting there and we should be attempting to enjoy the journey along the way... and also there is likely to be a lot more ups and downs and ups and downs before we squeeze another 400x plus price appreciation out of this bad boy, no? Sure, it is possible that such 400x plus price appreciation is closer than I think and I am being too much of a negative Nancy, but I do think that we should be attempting to deal with more of the here and now (and does not hurt to have those BIGGER pictures in the back of our head), but the here and now.. .. is a long way from the aspiration that you paint, no? Appreciate the thoughts. Sure, we could be a long way off still but what's "long" 2 years, 3 or are we talking 20 years? Doubtful the latter. Since I'm not as early in the adoption curve as many here, I still consider myself in the accumulation phase. I'm quite happy with my meager hodlings and selling is off the table almost completely at this time for me. It always looks like a fine idea in hindsight. Perhaps I'll join your trading trading strategy after another 20X and if that day never comes, well, I gave it my best for something I believed would change the world for the better. For the earlies here who have "fuck you money" ya, who cares? Take your earnings and enjoy some life. Enjoying life has always been my priority #1 , well before money and I know if the money slows or stops, I'll be just fine. On that note, I've gotta go kitesurfing, getting windy! |
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Bitcoin goes down while the least suspected alts go up. What surprise? Start with FOMO, end with FUD, and repeat.
But really, the whole price psychology has little effect on hodlers who are in it because they believe in what it will become. We're still in infancy I think where whales are able to move markets at whim. Competition will come and coins will eventually distribute. This is neither the last or the greatest bull run or bear market BTC will see before we arrive at adoption. I'm not even counting on a return to $'s but a value once the petrol dollar finally goes tits up and coin value is based on real world use. That's the dream, right guyz?
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I'm not messing with my seed... If TREZOR or Ledger decide to provide a coin splitting tool for this or any future forks (like they did with Bcash and Bgold), I'll claim. If not, my BTC stay put. Not worth the risk.
Agreed, HW wallets probably won't bother if its 1% or less of BTC value. If its 2% or more and they don't make a tool, I might be tempted to re-seed my wallet, move coins and do the split myself. I honestly wish I could understand the incentive behind the forks. Seems like so much $$$ just being given away and most of the recipients surely will dump. Who knows, maybe it's Bitcoin Pizza that will take the crown! Hahaha, not, my money is on Fedcoin.  If you are not paying for the product, you are the product? Go ahead, move your coins (this goes for your clones as well) We won't track you, or target you in any way. There is nothing to be learned from this, don't mind the man behind the curtain. That's an interesting concept. But, really, I've already been subject to KYC and AML with any exchange I've dealt with. If they come a look'n, wouldn't it be easy to move coins to another address and claim you'd been robbed? Then there's mixers and even OTC. I get your point and perhaps it'll all be so (Duh) clear after the fact but I just don't see it for now. I'm thinking that there's some monetary incentive behind the forkers or attack by dilution or some shit like that. |
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I'm not messing with my seed... If TREZOR or Ledger decide to provide a coin splitting tool for this or any future forks (like they did with Bcash and Bgold), I'll claim. If not, my BTC stay put. Not worth the risk.
Agreed, HW wallets probably won't bother if its 1% or less of BTC value. If its 2% or more and they don't make a tool, I might be tempted to re-seed my wallet, move coins and do the split myself. I honestly wish I could understand the incentive behind the forks. Seems like so much $$$ just being given away and most of the recipients surely will dump. Who knows, maybe it's Bitcoin Pizza that will take the crown! Hahaha, not, my money is on Fedcoin. |
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Yup, there should be an influx of uppity from all those who got BTC for Christmas and want more or money and want BTC and again it'll happen at new year much the same.
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They are running ads. Which has pushed the price of futures up to $260. Which is amusing.
Their timing on joining the crypto space is the amusing part. Had they made this move 2 years ago, perhaps it would have been more likely to capture a large share in the market. Shows how far behind the curve they really are. |
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Last bunch of pages were painful, ouch. Tried to follow but didn't really develop a broader understanding unfortunately. Prefer to let it lie for now. Would rather hear more about LN beta main net. This sounds like good news.
Thoughts for short term price action: If BTC price action will follow retail trends as it has largely in the past year, the beginning of January should look quite bullish, comparing it with my own retail sales, seems BTC gets all squirrely in tandem.
Other thoughts: Seems like not many are worried about the SW2X HF (this time around) on the 28th? There were quite a few concerned about it in Nov. but now it barely gets mentioned.
In alt coin news: I can't wait to read the FedCoin whitepaper. LOL I thought it was satire when I first saw. A little concerning for sure but I guess I didn't expect them to just roll over without a fight.
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