Are you trolling or just deluded? Your "facts" don't add up. You say you've been holding for 5 years. That means since 2015.

In 2015 the price of Bitcoin was well under $1k. The current price is over $6k. At one point it was over $19k. Even at its lowest point in between it was still over $3k.

Even at the worst reckoning you've made well over 200% profit. At best it was over 1800%. In reality if you'd bought at 2015's lows, your profits would have been 5x those numbers.

5 more years to "breach 10k"? LOL  Going to sub-1000s? Now I know you're trolling. Or maybe just a member of the trading cult.  

See you next year. Meanwhile, check out the Wall Observer thread to see how the more successful people live.

Good morning Bitcoinland.

Hanging in over $6k (barely) after bouncing up and down in the $5.6k-$7.1k range... currently $6222USD/$8925CAD (Bitcoinaverage).

I'm wondering if we might spend a little time going sideways here. I feel the panic dump is over but the immediate correction back up may be over too. I guess we'll have to wait and see.

This is why hodlers are perhaps better prepared for the Covid-19 restrictions. We're accustomed to waiting. Patience is a virtue.

Go Bitcoin go.


Wow. Just wow.

This is one reason why we're staying put here in the jungle. Too many idiots in a position to fuck you over with their stupidity. My heart goes out to you. How long do you think it will take to get back together?

Don't worry. Most of my "paper" wallets are encrypted silicon, duplicated and off-site.

Those that are actually paper (travel, current transactions, etc.) I keep in money-sized ziplock baggies along with pertinent transaction details like dates, amounts, sources etc.

I also archive my old swept wallets with their records. Some of them even have bits of forkcoins I never bothered to scavenge. They're also in baggies but additionally sealed in Mylar.

Someday even those forkcoin "faketoshis" might add up.

ftfy

Nice try but that's a stock image from bitcoinwiki.  

Good morning Bitcoinland.

Briefly touched the $7xxx range before correcting a little... currently $6660USD/$9507CAD (Bitcoinaverage).

Still a week and a half in Mic's contest. This should be interesting.


Not my paper money. 

Good afternoon Bitcoinland.

Looks like the panic is subsiding... currently $6351USD/$9222CAD (Bitcoinaverage).

Hopefully everyone stocked up during this (possibly last) great buying opportunity.

Onward and upward. Go Bitcoin go


I just missed the first halving but I got to enjoy the resulting bubble. I'd read my history about prior bubbles and knew the ensuing crash and bear market wouldn't last long.

Sure enough, it was less than half a year before we had another bubble and crash. Through both, I refused to sell a satosi (although I did spend a little on some ASICs and a spiffy BTC ballcap). Our renowned Speculation sub-forum moderator said it would go to single digits before reaching 3 digits again in the summer of 2013 but some of us knew better.

I took considerable heat from the trolls in 2014-5 for saying that 4 and 5 digits were inevitable while the negative Nellies were calling for double digits again.  It took a little longer this time but by the time the next halving had time to sink in we not only had our 4 digits back but 5 digits too.

Anyone with a brain who's been paying attention at all (and ignoring the so-called "experts", TA "legends" and other morons) can clearly see that 6 digits are inevitable within a year or 2 of the halving.

Selling just because of a silly black swan event panic is just plain stupid.

This was the time to buy.

Thought I'd mention that I'm using Bitcoin for what it was intended... not as a get-rich-moderately-quickly investment vehicle (although it has actually done quite well as that) nor a retail purchase currency (coffees?) but rather as a fast, reliable, cheap and secure way to send money around the world.

Since we decided it would be more prudent to wait out the Covid-19 emergency and panic by staying in our remote jungle village instead of dealing with high-risk airports and cities, I had to figure out a way to take care of financial obligations at home while not having a bank account.

There is also the fact that they may be closing the only highway into our village to keep tourists from bringing Covid-19 in. We  might be truly isolated, a whole community quarantined. We have no landline or cell phone service but usually have internet access. Postal service is almost non-existent taking months for delivery.

Bitcoin to the rescue. A friend lent me 3 bitcoins. Sent him an address with a QR code and he sent me 2.5btc. The other 0.5 he's going to sell (ouch!) and use to pay my rent and bills and put the rest on my credit card. I prefer for them to owe me money and not the other way around.
Hopefully by next month I'll only have to sell a lot less than half a coin to pay my expenses.

Meanwhile I'm sipping a cold Tecate and thawing out some imported beef while my lovely Mexican cutie is making taquitos out of the leftover chicken. We have lots of TP and there doesn't seem to be any shortage of anything yet. It's as if Covid-19 didn't even exist here.

Life is good. Thank you Bitcoin.

Yep. Guilty of the 60's hippie part. I was a beatnik before that. Maynard G. Krebs was my hero when I was a schoolboy. Got the scars on my liver to prove it.

I never said I was old and wise though. You just assumed that part.  Now I'm middle-aged (in my 70s) and I can still be foolish. Never got herpes but I did need tetracyclin and Quellada on the odd occasion (another great boomer invention... the sexual revolution). Those were the days... after the invention of the birth control pill and before the discovery of AIDS.

Thanks for the gin. Hope you don't mind me splashing a little Dolin's and dropping an olive in it. As for sharing bottles, think of it as un-thickened alcohol-based hand sanitizer.

Here: have some Farmacias Paris "Alcohol Puro 500 ml 03500111" in a recycled Agua Purificada bottle with a laser-printed label. Kills all the nasties... viruses, bacteria, even intestinal parasites. Yum.

Good morning Bitcoinland.

Still over $5k... currently $5271USD/$7540CAD (Bitcoinaverage).

Stock markets still plummeting. Bitcoin holding its own.

Go Bitcoin go.


What? How about 2 thumbs on a cellphone? Isn't that "social"?

I've got an idea. Why don't we quarantine  all the old and wise.

Then the young and stupid can infect each other. Great way to fight the idiocracy.

 

Good morning Bitcoinland.

Back to sideways in the $5xxx range after yesterday's roller coaster... currently $5306USD/$7504CAD (Bitcoinaverage).

A lot better recovery than the stock market.

Go Bitcoin go.


Yep.

Everyone's jealous of a country with the world's highest civilian incarceration rate, that spies on its own citizens while spending more on the military than healthcare or education.

Who wouldn't want that?

Good morning Bitcoinland.

This morning's stock futures plunge sparked another dip down under $4.5k but we're back up over $5k... currently $5015USD/$7002CAD (Bitcoinaverage).

Hopefully those who panic sold a few days ago had enough sense to buy back in and not fall prey to the Kwuk/Roach syndrome of expecting a deeper dip.
____

Perhaps there should be a 3rd option in the poll:

- Coronavirus
- Bitcoin
- Panic

Just as Sparta (the movie 300) was a meme when we first hit $300, the children's cartoon character Vegeta (It's over 9000!) became a meme for first hitting $9000.

Since the price has fluctuated past it several times already, it has become an ongoing meme. The  last couple of times, members have sponsored contests for being the first to post an image meme. Since there were some concerns about cheating, more stringent criteria were called for this time.

Hola Bitcoinland.
Five three seven three dollars
(Bitcoinaverage).

Just going sideways
Consolidating some more
Before going up.

Covid crap at home?
Think I'll stay in the jungle
A little longer.


Exclusive access?
Cheap Mexican generic
Knock-offs would be fine.

Yes, there is a certain degree of alarmist over-reaction concerning covid19 but considering I'm in my 70s and have COPD, I think maybe I'll pass on flying up to Toronto next week and extend my stay in the Maya Jungle for a few more weeks (or months) until this thing blows over. I'll take my chances with the snakes.
____

Toronto was on the shit list some 17 years ago because of a similar virus called SARS and it was freaky. People (especially Chinese) wearing face masks on the streets, hospitals closed to the general public, tourism ground almost to a halt... they had to throw a big rock concert featuring the Rolling Stones (but ACDC stole the show) just to try to tell people it was safe to come to Toronto. Drew half a million people.

Eventually it blew over and it was life as usual again. I've still got a souvenir t-shirt. It reads:

"I survived SARS, West Nile Virus, Great Power Blackout, SARS again."

We also had a widespread 3-day power outage that summer triggered by some idiots in the USA and exacerbated by too many air conditioners in a brutal heat wave. While other people were buying up all the flashlight batteries, I bought all the candles and icecubes in the corner store. I filled my chest freezer to the brim with ice, and filled a Coleman cooler with the contents of my frig and as much ice as would fit and another cooler with beer and the rest of the ice. Made it up to my country place where I had enough generator gas to wait the thing out with lots of cold beer.

Lesson: Don't panic. It will eventually be a memory and source of nostalgia. Maybe we'll get t-shirts. For now though I'll stay in my little piece of paradise in the (covid19-free) jungle and avoid airports. On that note I think I'll have an ice-cold Tecate. No cerveza turista for me.

P.S. No shortage of TP here.

Viruses don't pay like politicians.

Good morning Bitcoinland.

Things seem to have settled down a little today as we're consolidating into a sideways pennant in the mid-$5xxx range... currently $5419USD/$7532CAD (Bitcoinaverage).

Let's see if we go up or down from here. My feeling is that we had capitulation, shook out the weaklings and short-termers and will start our rise to glory.

It may take some time though.


"Paper" is just another word for cold storage. It may be in the form of ink on paper, flash memory storage, characters engraved on a steel plate or anything that can be used to record a private key and a public key.

Lots of people still use it. You don't think the Winklevoss twins or Tim Draper keep their bitcoins on a Trezor or Ledger device or expose them to hackers by keeping them in wallet application programs do you? Of course they use "paper" wallets. Same with the cold storage reserves of the major online exchanges, and I would assume the banks and government agencies.

If addresses are generated on devices (both PC and printer) that will not be connected to the internet, these addresses are safe from hackers and can be considered paper wallets.

The most convenient form is printed on paper and has easy-to-scan QR codes. The problem with this is that if it falls into the wrong hands your coins can be moved to another address to which you have no access. I use this as a form of "cool" storage for coins I keep at home or for travel.

The best way to maintain security is keep multiple copies in multiple off-site locations. They obviously need to be in a form that are inaccessible to anyone who finds them.

The obvious choice is encryption but there are other ways. I read somewhere that the Winklevii split each key into several pieces, encrypted each and scattered them around their country in many locations.

Ultimately, you must remember or record some kind of key, be it an actual Bitcoin public/private key pair, a hardware wallet seed phrase, an encryption key, or some other password. There's no getting around that.

It's wise to not put all your eggs in one basket. Split your coins into many addresses. When bitcoins are worth $100k each, sweeping a wallet containing multiple coins becomes a bigger security risk. Many small wallets containing small fractions of bitcoins makes a lot more sense.

I prefer multiple encrypted flash memory devices in multiple off-site locations.

ftfy   

Close but no cigar.

That's like calling risotto Minute Rice.