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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BTC + Crossfit, living life.
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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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rdbase
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Join the world-leading crypto sportsbook NOW!
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October 21, 2020, 06:37:18 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 The terms did say they will allow you to purchase with no fee until december 31st. They can charge you whatever they like for their crypto cause you know they won't be going by bitstamp or any other market prices. 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 Quite right Kurious. Best to hold off all the excitement until more context is actually released and the honeymoon period has been faded from all the fomo'ers.
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cAPSLOCK
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Whimsical Pants
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October 21, 2020, 06:46:29 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? Liquid was made for that.
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cAPSLOCK
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Whimsical Pants
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October 21, 2020, 06:52:37 PM |
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Was coming to post this? What's that phrase all the cool kids say? Gradually, then...
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Hyperjacked
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It's all mathematics...!
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October 21, 2020, 06:52:51 PM |
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Serve me b*tches and b00ze.....
Lol! We havent even rallied yet !
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Hyperjacked
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It's all mathematics...!
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Where dem dang Bargain boyz at...? USA up dat crap creek witout da paddles Printin trillions n dat chubby guy got a snake bite!
I luv dem dang bargin boyz... https://m.youtube.com/watch?v=F7xGbEGdOfw
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Hyperjacked
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It's all mathematics...!
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October 21, 2020, 07:09:51 PM |
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^ yeah, no I want dem dang keys PayPal or you own my stash... Amazing paypal is control of the little guys $btc forever Typical bs
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cAPSLOCK
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Whimsical Pants
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October 21, 2020, 07:15:33 PM |
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I want dem dang keys PayPal or you own my stash... Amazing paypal is control of the little guys $btc forever Typical bs
You should not use Paypal to custody your bitcoin, obviously. But more than 99% of people are nowhere near ready to custody their own keys. The less stories about how dangerous it is to own Bitcoin, the better. This is analogous to the arrival of AOL in the internet age. Do we want AOL instead of the internet? Hell no. Did AOL onboard 70% of the US market. Yup.
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PoolMinor
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XXXVII Fnord is toast without bread
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October 21, 2020, 07:18:11 PM Last edit: October 22, 2020, 06:46:24 PM by PoolMinor |
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Obey the Master Bitcoin! $13K before midnight?
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cAPSLOCK
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Whimsical Pants
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October 21, 2020, 07:18:25 PM |
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I will say this as an OG Bitcoiner (lolrothlmfaoetc).
If Paypal allows us to use their network with Bitcoin to buy things then I *will* allow them to custody a portion of my wealth as a spending wallet. Why not? I mean I got a bit on there new from Ebay sales. Can't quite bring myself to convert all that *today* as I think the chance of a pullback is pretty high... but... you know.
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