600watt
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March 05, 2021, 07:06:59 PM |
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jesse has profound insider knowldege. he owns it. he knows.
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JayJuanGee
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Self-Custody is a right. Say no to"Non-custodial"
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March 05, 2021, 07:20:24 PM |
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Funny thing about the importance of actual action.. and you likely do not even have to act with any kind of BIGness.. just getting started and beginning to buy relatively small and reasonable amounts, such as $50 per month.. could really add up when it comes to 10 or 20 years down the road when you are ready to retire.. but sure some folks have shorter timelines (perceive that they do), and they could still be a wee bit more aggressive in their bitcoin approach, but they still are faced with that actual important wee detail of taking actual action that goes beyond mere thoughts about it. By the way, I was just listening to a world crypto network podcast reading with Thomas Hunt, and there were a lot of interesting ideas about , and sure whether he was part of Satoshi or not, he was an interesting person who died quite young (at 31) ... so his youth could cause more difficulties in actually him completely being satoshi.. even though through out history, there have been some quite great geniuses at decently young ages in all kinds of fields. I believe that Hunt was reading from this Medium article from February 21, 2021.
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Biodom
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March 05, 2021, 07:21:55 PM |
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Types of bitcoin investors/hodlers and price:
Friends and family-anything below $1
Angel investors-$1-32
Early venture investors-$32-250
Late venture-$250-1160
Various letter series (A-D)- $1160-10K
pre-IPO-$10K-28K
institutional, but pre-massive retail-28K-100K
everybody, except central banks -after 100K
central banks-after $500K
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JayJuanGee
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Self-Custody is a right. Say no to"Non-custodial"
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March 05, 2021, 07:29:53 PM Last edit: March 05, 2021, 07:50:29 PM by JayJuanGee |
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Powell's comments today may have played a role in the market.
He acknowledged the obvious inflation, trying to downplay it as temporary but he also saw some recovery in the economy over the next few months.
“If we do see what we believe is likely a transitory increase in inflation, where longer-term inflation expectations are broadly stable, I expect that we will be patient" he said about raising interest rates.
Like it or not, with all of the ETFs and corporations buying bitcoin we are now affected by the overall market a lot more than back in the day when price changes mainly reflected something happening in the Bitcoin world.
Powell is basically saying that they're keeping an eye on inflation. They assume it will go up in the short term but also believe long term it will not get out of control so they will wait on raising interest rates until they see a long term trend in inflationary pressure.
The key that we all should understand is that once the Fed raises interest rates, the everything bubble will pop. It will be the housing crisis and the 2008 market crisis times 100. Will Bitcoin crash with the market or will Bitcoin be seen as a hedge. Hopefully people will flee to bitcoin but who knows. When the market crashed due to lockdowns last March bitcoin crashed but bounced right back. So it's sort of hard to figure that one out.
I surely had been tempted to send you an smerit based on this analysis. but I just could not bring my lil selfie to do it... accordingly, I am having some difficulties with both your calling a bitcoin top at $50k and your somewhat hedging (or is it uncertainty?) language in regards to what bitcoin might or might not do in respect to short term "macro" dynamics... which seems to be that you, Elwar, are failing and refusing to account for the reality of bitcoin not giving any shits and also having currently valid price prediction models that should assist you in determining what bitcoin may or may not do... but you seem to want to be smarter than our current quite persuasive and credible BTC price prediction models.. and you have every right to be smarter than the models with your supposed "independent" analysis... that seems to be handicapping ur lil selfie - in spite of some of your seeming potential to actually understand bitcoin a wee bit MOAR better. When the market crashed due to lockdowns last March bitcoin crashed but bounced right back. So it's sort of hard to figure that one out.
Here's a conspiracy theory for you: Badger doesn't give a fuck. BTC is not affected by the news or the traditional market - they do try, but in reality they can't do shit. They can't - because someone else will always BTMFD. Mathz and science confirms this. The 2020 March crash although officially attributed to COV, was really an over-leveraged mega whale entity on Bitmex. Joe or r0ach or ... well, he has many names and associates. Bitmex kill switch worked eventually. LOL. Until next time of course. [no, not this March] I largely agree with the whole gist of what you are asserting here, CT, but I am having a bit difficulties with your single theory and your denial of Covid contained within the post, but the overall point about bitcoin not giving any fucks remains important .. and also your attack upon Elwar's seeming attempt to suggest that BTC prices may well be tied to macro forces.. blah blah blah.. remains a framing in need of ongoing attacks.. but since bitcoin gives few fucks, those who are invested in bitcoin (largely long) versus those who are not (hedging too much in terms of down, blah blah blah) are going to personally find out if their allocations are actually adequately and sufficiently paying off... or if they may have under done it in terms of being to scared of sufficiently longing bitcoin.. By the way, I am not saying go 100% bitcoin.. for the most part, I view those as a bit retarded theories for the vast majority of peeps.. so going long is surely going to depend on starting points.. and newbies may well have less aggressive BTC portfolios.. and longer term bitcoiners may incidentally end up having greater allocations largely due to ongoing BTC price appreciation over the years.
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Biodom
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March 05, 2021, 07:45:13 PM |
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Fed will not raise interest rates for a simple reason that if they do so, the rates will either become inverted and everything (in the market) crashes, as correctly indicated, OR, the yield curve would maintain it's upward slope, which means that long term interest rates would go higher, but then the government would be largely insolvent (cannot afford interest payments on the debt). Since the latter is very unlikely, the whole scenario becomes unlikely as well.
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Cryptotourist
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The problem is, I have difficulty spending much beyond my salary, considering that btc might go to $5mil, eventually.
That's a very good point dear sir.
Congrats!
Hello. SaveMotherTeresa went bullish.
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600watt
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March 05, 2021, 07:50:14 PM Last edit: March 05, 2021, 08:05:33 PM by 600watt Merited by JayJuanGee (1) |
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dear WO this is one of the best bitcoin related pieces i have encountered in a long time. i am humbled. i am in awe. incredibly profound. must read or must listen! it is a long read. here is a small example: From an outside perspective, Bitcoin funnels the chaotic mess of globally broadcast asynchronous messages into a parallel universe, restricted by its own rules and its own sense of space and time. Transactions in the mempool are timeless from the point-of-view of the Bitcoin network. Only when a transaction is included in a valid block does it get assigned a time: the number of the block it is included in.
It is hard to overstate how elegant a solution this is. Once you are able to create your own definition of time, deciphering what came before and what came after is trivial. In turn, agreeing on what happened, in what order, and, consequently, who owes what to whom, becomes trivial as well.
The difficulty adjustment makes sure that the ticks of Bitcoin’s internal metronome are somewhat constant. It is the conductor of the Bitcoin orchestra. It is what keeps the music alive.
But why can we rely on work in the first place? The answer is threefold. We can rely on it because computation requires work, work requires time, and the work in question — guessing random numbers — can not be done efficiently.
podcast: https://anchor.fm/thecryptoconomy/episodes/Read_503---Bitcoin-is-Time-DerGigi-erk2ss/a-a4r1dh6article: https://dergigi.com/2021/01/14/bitcoin-is-time/edit: another, even better glimpse: Two building blocks are essential for the structure of time: causal links and unpredictable events. Causal links are required to define a past, and unpredictable events are required to build a future. If the sequence of events would be predictable, it would be possible to skip ahead. If the individual steps of the sequence aren’t linked, it would be trivial to change the past. Because of its internal sense of time, it is insanely difficult to cheat Bitcoin. One would have to rewrite the past or predict the future. Bitcoin’s timechain prevents both.
Viewing Bitcoin through the lens of time should make clear that the “block chain” — the data structure that causally links multiple events together — is not the main innovation. It is not even a new idea, as is evident by studying the timestamp literature of the past.
What is a new idea — what Satoshi figured out — is how to independently agree upon a history of events without central coordination. He found a way to implement a decentralised timestamping scheme that (a) doesn’t require a time-stamping company or server, (b) doesn’t require a newspaper or any other physical medium as proof, and (c) can keep the ticks more-or-less constant, even when operating in an environment of ever-faster CPU clock times.
Timekeeping requires causality, unpredictability, and coordination. In Bitcoin, causality is provided by one-way functions: the cryptographic hash functions and digital signatures that are at the core of the protocol. Unpredictability is provided by both the proof-of-work puzzle as well as the interaction with other peers: you can’t know in advance what others are doing, and you can’t know in advance what the solution to the proof-of-work puzzle will be. Coordination is made possible by the difficulty adjustment, the magic sauce that links Bitcoin’s time to ours. Without this bridge between the physical and the informational realm, it would be impossible to agree on a time by relying on nothing but data. if stuff like this doesnt get you aroused, you dont bitcoin
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Richy_T
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1RichyTrEwPYjZSeAYxeiFBNnKC9UjC5k
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Hello. SaveMotherTeresa went bullish. Fiat
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Cryptotourist
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March 05, 2021, 07:58:58 PM |
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Obviously will read, but I'd like to add something I was thinking the other day. When Alexander the great died, he made a symbolism that you can't taking anything with you when you're dead, by getting buried without any jewelry. This is not true for BTC. I'm not saying that you should take your coins to the grave of course, but how timeless is that?
Fiat That's probably equally* awesome. Depends what you want. *edit
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d_eddie
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March 05, 2021, 08:01:52 PM |
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I call stuff like this "much needed FUD". It reeks of desperation.
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JayJuanGee
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Self-Custody is a right. Say no to"Non-custodial"
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March 05, 2021, 08:10:58 PM |
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shahzadafzal
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March 05, 2021, 08:12:21 PM |
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I'm with the other guy who thinks we should be grounded in reality for now. Space elevators are fun and all, but we could still cover a lot of surface area on the planet, maybe even in the oceans, for plenty of solar panels / arrays to power the world (or a bitcoin miner.) I found this before: https://landartgenerator.org/blagi/archives/127So it's not updated, but you can line up a whole bunch of solar panels near the equator and not much is needed to power the world (not including bitcoin miners) ... That article also discusses wind power and hydroelectric power. Edit: here is another one just for bitcoin. https://landartgenerator.org/blagi/archives/5697Well I have been in similar discussion with friends who still didn’t accept Bitcoin yet. So one time we discussed that it’s a fact tha a SME (coronal mass ejection) is a serious threat to humanity. And if it happens it will be a complete blackout for days, months or may be years. In such a mass disaster what will happen to Bitcoin?? when this whole Bitcoin echo system needs so much energy and constant internet connection how Bitcoin will survive? Whereas paper money or gold can still be valued and used in such scenarios like nothing happened.
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Wekkel
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yes
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March 05, 2021, 08:17:22 PM |
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I'm afraid I just pulled the trigger on a 2nd hand station wagon (the Alpina has to wait). Most expensive car I ever bought but way less than a Lambo. I expect to drive it for 10 years at least. I am cautious not to flash wealth too much. Some people may get the idea that Bitcoiners are super wealty and an easy target (no Bitcoins stored in a bank but at home). And I don't really like to own expensive stuff (at least: more expensive than the top 10% in a country owns; still good but not uber rich with Bentleys, mansions and stuff). I am happy this way. And that won't change if Bitcoin goes to $288k.
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Phil_S
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We choose to go to the moon
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March 05, 2021, 08:29:25 PM |
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So, that last part, spend a little energy to throw something to the sun, then let it be.. It's going to spiral and never really get there and just be some space debris / comet?
It's not going to spiral. Spending a little bit of energy means the new orbit will be a little bit lower, that's all.
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El duderino_
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BTC + Crossfit, living life.
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March 05, 2021, 08:34:20 PM |
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I'm afraid I just pulled the trigger on a 2nd hand station wagon (the Alpina has to wait). Most expensive car I ever bought but way less than a Lambo. I expect to drive it for 10 years at least. I am cautious not to flash wealth too much. Some people may get the idea that Bitcoiners are super wealty and an easy target (no Bitcoins stored in a bank but at home). And I don't really like to own expensive stuff (at least: more expensive than the top 10% in a country owns; still good but not uber rich with Bentleys, mansions and stuff). I am happy this way. And that won't change if Bitcoin goes to $288k. indeed, same here, bought a defender just last week.... second hand.... DOG-car
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julian071
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March 05, 2021, 08:39:05 PM |
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I'm afraid I just pulled the trigger on a 2nd hand station wagon (the Alpina has to wait). Most expensive car I ever bought but way less than a Lambo. I expect to drive it for 10 years at least. I am cautious not to flash wealth too much. Some people may get the idea that Bitcoiners are super wealty and an easy target (no Bitcoins stored in a bank but at home). And I don't really like to own expensive stuff (at least: more expensive than the top 10% in a country owns; still good but not uber rich with Bentleys, mansions and stuff). I am happy this way. And that won't change if Bitcoin goes to $288k. indeed, same here, bought a defender just last week.... second hand.... DOG-car I bought a 2003 Honda CBR 954 RR Fireblade recently for when I don't want to flash my cocaine-white Ducati Panigale. (Nah bought it because it's an awesome machine. No electronics and lighter then the Duc).
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DaRude
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In order to dump coins one must have coins
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March 05, 2021, 08:40:28 PM |
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Can't you just point it there, fire a thruster, and let it go it's course? (I mean, calculate where it should end up, but yeah, basically go towards the sun.)
Nope. I think Larry Niven covered this too, prolific guy. You either speed it up, which takes it to a higher orbit or slow it down which takes it to a lower orbit. To take it to an orbit low enough to burn up in the sun, you need to slow it down the whole amount that the earth is orbiting the sun (about 67000 mph). There's a little bit of fudge in this due to eliptical orbits and drag from the sun's atmosphere but that's the basic principle. Essentially anything you fire into the sun is going to get there on a spiral path. Correct. I really recommend reading up on the Messenger probe that went to Mercury, it needed an insane amount of fuel and a number of earth and venus flybys to slow down enough to even get to mercury. In space speeding up takes energy, slowing down takes energy, everything takes energy :-) So, that last part, spend a little energy to throw something to the sun, then let it be.. It's going to spiral and never really get there and just be some space debris / comet? I'd imagine if we have like a bunch of stuff (remember very old superman movie with nuclear bomb rockets in a large bundle that he just threw to the sun), but then that whole thing must be very heavy. I always thought that the challenge was to calculate perfect orbits without it getting pulled in and crashing. Now getting into an orbit around the sun is the easy part?
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DaRude
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In order to dump coins one must have coins
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March 05, 2021, 09:00:33 PM |
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I'm with the other guy who thinks we should be grounded in reality for now. Space elevators are fun and all, but we could still cover a lot of surface area on the planet, maybe even in the oceans, for plenty of solar panels / arrays to power the world (or a bitcoin miner.) I found this before: https://landartgenerator.org/blagi/archives/127So it's not updated, but you can line up a whole bunch of solar panels near the equator and not much is needed to power the world (not including bitcoin miners) ... That article also discusses wind power and hydroelectric power. Edit: here is another one just for bitcoin. https://landartgenerator.org/blagi/archives/5697Well I have been in similar discussion with friends who still didn’t accept Bitcoin yet. So one time we discussed that it’s a fact tha a SME (coronal mass ejection) is a serious threat to humanity. And if it happens it will be a complete blackout for days, months or may be years. In such a mass disaster what will happen to Bitcoin?? when this whole Bitcoin echo system needs so much energy and constant internet connection how Bitcoin will survive? Whereas paper money or gold can still be valued and used in such scenarios like nothing happened. Well lets see, assuming mass CME lasting 24hrs to cover all of earth, power grid is fried, nuclear power plants shutting down some blowing up cause their redundant safety mechanisms are fried, some nuclear weapons/ships/submarines/planes might go boom, satellites supposed to have some protection but chances are won't hold up to such massive CME so GPS and SAT communications are done, planes falling out of the sky, mass hysteria, supply chains disrupted shortages of food widespread, armies are reduced to few guys running around with guns, ATMs are used for target practice etc, etc, etc... and you think i'll accept your monopoly coupons or shiny metal for this chicken that i'm trying to sell because i need more ammo? If such major disaster happens BTC would be the last of your worries. On a bright side surviving society's priority would be restoring the internet, once that's back up BTC would be the first one to come back online before any bank or ATM will start working.
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JayJuanGee
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Self-Custody is a right. Say no to"Non-custodial"
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March 05, 2021, 09:06:14 PM Last edit: March 05, 2021, 09:23:06 PM by JayJuanGee |
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Order @ $47k just got filled. Next order set up to execute @ $46.5k - Set up down to $45k.
I would totally merit you, but I don't have any anymore. Also... had regret of not being more greedy to put a few hundred lower... ... it dipped to 46,700$ ... Exactly... Save the RF... you are not greedy enough.. that's your problem. Be more greedy.. and while you are at it, may as well be more retarded (and quasi-incomprehensible), too. You go girl!!!! You will thank me, later. This such boring movement last couple of weeks.. WO - when $60k??
There will be another dump attempt in 12'-ish hours. But resistance feels strong! "Resistance"? You must be talking about "support," no? half the time, who the fuck knows what you are talking about? Do you even know? Must suck to be you with such ongoing confusing and most-of-the-time incorrect inner-dialogue. We (royal we, of course) no doesn't roll like dat in dees here parts. There you have it.. Price charts do not lie.. especially the seasonal ones.. For sure, king daddy is a fucking pussy and follows seasons... therefore, .must be going to go down then. May as well pack up, boyz. Sucks to be a bag HODLers, sometimes.
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_javi_
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March 05, 2021, 09:10:09 PM |
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Hello. SaveMotherTeresa went bullish. Fiat Thats not a FIAT, it's an ABARTH. (at least the logo)
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