Arriemoller
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Cлaвa Укpaїнi!
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October 21, 2020, 05:23:04 PM |
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It's gonna be tough for a lot of idealistic Bitcoiners to accept the fact that some of bitcoin's "layer 2" is gonna be built by people who do not share the cypherpunk ethos.
Thing is... that's really part of the ethos isn't it? I mean, who is not allowed in the pool?
This is why I have always sort of resisted the whole "fuck the banks" aspect... Central banks? Yes. But people like Paypal, Visa, Western Union, Wells Fargo? They are gonna play or get slaughtered. They will end up in.. as we are seeing happen. Bitcoin has to be strong enough to handle it.
Yeah, I agree, I mean bitcoin is a currency, and banks and credit unions and the likes handle currency. It's not like we didn't have banks before fiat money came along. "Be your own bank" is a bit like "keep your cash in the mattress" If the cash/key is not in your possession, it's not your cash/coins. your private key on a piece of paper just just takes up less space in the mattress.
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cAPSLOCK
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3 years bear market ended. 5 months after the halving. Hash rate ATH. Taproot and Schnorr incoming. Companies relocating few % of there assets into Bitcoin. Supply dropping on exchanges. People already struggling getting 1 full coin.  Nice $100k+ green candle i guess. I am gonna risk looking like a jackass... but you know. No pride etc. So many models show us kinda leveling out. Losing volatility, not gaining quite as much as the first 3 times. Follow the pattern. Each candle gets a little smaller. And it makes sense right? I mean to go from $1 to 1000 takes less than a grand. 1000 to 20000 takes 19 grand. Etc. a LOOOOOT of money has to come in to get a cnadle like the first one this time. Eventually it starts settling down. Many long term analysts take this basic position. However. We have barely seen any adoption. I think those first few waves? Maybe more like tremors. (Hmm mixed metaphors) The big one is still yet to come. I think it is possible we see a candle at some point that is bigger than the first three. Or at least breaks the pattern. The upward part of the "S curve". We might be about to see it now. when giant corps and nations start getting in. Retail won't really be able to even keep up. And then after the surprise of surprises, we can see the descending volatility log curve top of the s curve sort of resume. My biggest fear is it breaks bitcoin. We are about to get the mamma of all throughput tests. And we are liable to see BCH and ETH centralize and break. I actually think LTC has more chance of staying somewhat decentralized than the others. The right choices were made for BTC. But we will need to start making the world understand why fees are not the point. Because I predict they are about to get pretty damn big.
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EatonABooger
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October 21, 2020, 05:25:26 PM |
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if there are any bagpipes at my funeral just flipping shoot me oh wait. if there are any flipping bagpipes at my funeral i will haunt you to within inches of your sanity
do you know why bagpipper players are always marching? because they are trying to get away from the sound.
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DaRude
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In order to dump coins one must have coins
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October 21, 2020, 05:29:56 PM |
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Well, it's nice to be officially "wealthy" again at these BTC/USD prices. Freaking surreal.
Too bad the Paypal news is so lame. Not being able to move crypto between accounts, or into your own custody is going to red-pill quite a few folk about "not your keys, not your coins"
Gentlemen.
Yeah, that was one of my initial thoughts too. But that's eclipsed imo by the ability to send your bitcoin to paypal and then be able to spend it anywhere paypal is accepted, which is almost everywhere online. So just one extra step allows us to spend bitcoin almost everywhere. That's huge (no need to keep huge amounts of bitcoin there). Hmm, it seems that if you cannot send/receive your own bitcoin to/from your paypal account, it's perhaps not as ground breaking as we'd hoped. Still a positive development though. I would have been surprised if they would allow sending/receiving. Nor BTC withdrawal, and obviously this is a big win for KYC. And using it as "cash" for purchases will be it being spent at it's market rate etc. it's messy. There will be big negatives. In some ways the status quo companies coming in is a bit of an invasion. But this is SUCH a positive step in spite of all that. And now the race is going to be who is the one that offers the most features you want. Paypal, Square, Baakt, Fidelity, Robinhood, Etc? This is DEFINATELY one of those "don't let the perfect get in the way of the good" moments. I think Square/Cash App is going to set the tone for the industry, although PayPal is certainly a 900lb gorilla. Or what if they used some kind of thunder bolt fast channels between their walled gardens, that would allow KYCed users to transfer their "BTC" between the approved platforms. Step 2?
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600watt
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October 21, 2020, 05:33:25 PM |
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3 years bear market ended. 5 months after the halving. Hash rate ATH. Taproot and Schnorr incoming. Companies relocating few % of there assets into Bitcoin. Supply dropping on exchanges. People already struggling getting 1 full coin.  Nice $100k+ green candle i guess. I am gonna risk looking like a jackass... but you know. No pride etc. So many models show us kinda leveling out. Losing volatility, not gaining quite as much as the first 3 times. Follow the pattern. Each candle gets a little smaller. And it makes sense right? I mean to go from $1 to 1000 takes less than a grand. 1000 to 20000 takes 19 grand. Etc. a LOOOOOT of money has to come in to get a cnadle like the first one this time. Eventually it starts settling down. Many long term analysts take this basic position. However. We have barely seen any adoption. I think those first few waves? Maybe more like tremors. (Hmm mixed metaphors) The big one is still yet to come. I think it is possible we see a candle at some point that is bigger than the first three. Or at least breaks the pattern. The upward part of the "S curve". We might be about to see it now. when giant corps and nations start getting in. Retail won't really be able to even keep up. And then after the surprise of surprises, we can see the descending volatility log curve top of the s curve sort of resume. My biggest fear is it breaks bitcoin. We are about to get the mamma of all throughput tests. And we are liable to see BCH and ETH centralize and break. I actually think LTC has more chance of staying somewhat decentralized than the others. The right choices were made for BTC. But we will need to start making the world understand why fees are not the point. Because I predict they are about to get pretty damn big. again, out of merit. can't agree more. one of the run-ups will be "the one". where it does not get dumped back 80%. I don't think it will happen this time around. maybe next time. but just in case I am wrong I will not sell majority of stash whatsoever. majority will stay in bitcoin forever. regarding the fees it will get more crowded again. probably a good thing that all PayPal users are not playing around with their $20 worth of btc on the main chain.
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lightfoot
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I fix broken miners. And make holes in teeth :-)
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October 21, 2020, 05:35:27 PM |
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Phil_S
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We choose to go to the moon
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October 21, 2020, 05:40:32 PM |
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I waited to see $12800 for so long!!! Hard to believe we finally here!
Now if only we could hold it above that level for a while...
We visited 'above $12800' land in the summer 2019, but only for a few short hours...
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Hueristic
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Doomed to see the future and unable to prevent it
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October 21, 2020, 05:44:32 PM |
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Google at this point is where Altavista was when Google came on the scene. People used Google because it had a simple page, was quick, and not choked with crap.
All this has happened before, all this will happen again.
AltaVista never had near the money at that time that Google has now. They won't be as easy to buy out, especially not by Yahoo  I have started to use https://asciimoo.github.io/searx/ some time ago, it's a very nice meta-search engine that can easily run from an old RPi. While it is not perfect, it keeps you from being tracked by the "don't do evil" lunatics. Thanks alot for this! I'm checking it out now. 
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dragonvslinux
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October 21, 2020, 05:45:14 PM Last edit: September 10, 2023, 01:28:52 PM by dragonvslinux |
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Back on track then. Overshot the $12K target with ease   CME chart looks great   Hope you already bought the dip!
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Paashaas
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October 21, 2020, 05:48:30 PM Merited by JayJuanGee (1) |
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I am gonna risk looking like a jackass... but you know. No pride etc.
So many models show us kinda leveling out. Losing volatility, not gaining quite as much as the first 3 times. Follow the pattern. Each candle gets a little smaller. And it makes sense right? I mean to go from $1 to 1000 takes less than a grand. 1000 to 20000 takes 19 grand. Etc. a LOOOOOT of money has to come in to get a cnadle like the first one this time. Eventually it starts settling down. Many long term analysts take this basic position.
However.
We have barely seen any adoption. I think those first few waves? Maybe more like tremors. (Hmm mixed metaphors) The big one is still yet to come. I think it is possible we see a candle at some point that is bigger than the first three. Or at least breaks the pattern. The upward part of the "S curve". We might be about to see it now. when giant corps and nations start getting in. Retail won't really be able to even keep up. And then after the surprise of surprises, we can see the descending volatility log curve top of the s curve sort of resume.
My biggest fear is it breaks bitcoin. We are about to get the mamma of all throughput tests. And we are liable to see BCH and ETH centralize and break. I actually think LTC has more chance of staying somewhat decentralized than the others.
The right choices were made for BTC. But we will need to start making the world understand why fees are not the point. Because I predict they are about to get pretty damn big.
Bitcoin will bubble up all the way to $1m per pop in 10 years, it will be legendary.  https://twitter.com/woonomic/status/1318953350906310657
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Arriemoller
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Cлaвa Укpaїнi!
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October 21, 2020, 05:49:49 PM |
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My daughter just suggested having the 100k-party literally on the moon. I explained that would be to expensive, but maybe my old brain is just not thinking big enough....
One problem there, many of us is too old to pass the medical I'm afraid.
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lightfoot
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I fix broken miners. And make holes in teeth :-)
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Google at this point is where Altavista was when Google came on the scene. People used Google because it had a simple page, was quick, and not choked with crap.
All this has happened before, all this will happen again.
AltaVista never had near the money at that time that Google has now. They won't be as easy to buy out, especially not by Yahoo  I have started to use https://asciimoo.github.io/searx/ some time ago, it's a very nice meta-search engine that can easily run from an old RPi. While it is not perfect, it keeps you from being tracked by the "don't do evil" lunatics. Sure, but the point is when the dinosaurs get to a certain size, the little mammals start coming in and stealing their eggs. Remember that Google also built its brand on the words "Don't be Evil", and that meant something for quite a while. Sears, AT&T, GM, Exxon, etc. Few things last forever and when the barrier to entry is low like the Internet, things can change in a flash.
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lightfoot
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I fix broken miners. And make holes in teeth :-)
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October 21, 2020, 06:08:49 PM |
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Also remember Altavista was owned by Digital Equipment Corporation, at the time the largest computer company around. DEC got big because they sold "minicomputers" in the 1960's that ate the eggs of the mainframe manufacturers (IBM, Speery, Honeywell, etc). Then in the 1980's they explicitly buried their own forays into the personal computer marketplace because it would undercut their minicomputer sales and profits.
That worked out.... poorly.... for them and they were dead in a decade.
So when you think a company is big, mighty, eternal, google-y check your premises. You might find one of them is wrong.
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El duderino_
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“They have no clue”
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October 21, 2020, 06:21:25 PM |
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Serve me b*tches and b00ze.....
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kurious
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Another corporation is doing the 'treasury' thing https://twitter.com/adam3us/status/1318873763073708040Mode Global Holdings PLC, a U.K-listed company, has announced it will place 10% of its cash reserves into bitcoin as part of its treasury investment strategy.
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600watt
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October 21, 2020, 06:25:58 PM |
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they all have the damn right to fomo!
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rdbase
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Join the world-leading crypto sportsbook NOW!
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October 21, 2020, 06:29:21 PM |
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Yeah, they followed suit with what Microstrategy and Square just did earlier this year: https://www.coindesk.com/uk-listed-firm-mode-putting-10-of-cash-reserves-into-bitcoinSomething's happening...
Kraken flatlining for the past 45 minutes.
Quite right, Something is a foot... TRAIN TIME!!!!!!!!!!!!!!!!!!!!!!!!  Who is the chick? She looks familiar but can't put a name to the face.  My god, poor mindrust POOR MINDRUST...  Many men have fallen during battle, we will remember them but the strongest hands march on to the promised lands together. Will put a MINDRUST number plate on my first Lambo in his memory!  Yeah, never go full mindtrust as someone has said before. Is that saying copyrighted yet? 
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OutOfMemory
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Man who stares at charts (and stars, too...)
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October 21, 2020, 06:34:19 PM |
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crypto at paypal? they want me to buy from them? no, i will resist. #$13kHaiku That should get some things going, though. Curious about what the Trumpsters will do about it... But paypal, c'mon! I don't think they would set sails in uncleared waters. Just my uhm, opinion, man 
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kurious
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October 21, 2020, 06:35:06 PM |
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Disclaimer: given this was a CoinDesk story I have no idea of how much 10% of their treasury is worth, might be £10 for all I know. They might just be off to put the contents of the petty cash tin into Paypal 
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