Torque
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June 20, 2022, 02:36:40 PM |
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2. You don't understand the difference between crypto and Bitcoin.
Why don't you explain it to me genius.
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Remember that Bitcoin is still beta software. Don't put all of your money into BTC!
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Wilhelm
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June 20, 2022, 02:44:58 PM |
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2. You don't understand the difference between crypto and Bitcoin.
Why don't you explain it to me genius. Bitcoin is Crypto but crypto isn't Bitcoin. Crypto is an asset class for a whole variety of assets from NFTs to DAOs... Hope this clears things up for you...
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Torque
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June 20, 2022, 02:49:39 PM Last edit: June 20, 2022, 02:59:56 PM by Torque Merited by JayJuanGee (1) |
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2. You don't understand the difference between crypto and Bitcoin.
Why don't you explain it to me genius. Bitcoin is Crypto but crypto isn't Bitcoin. Crypto is an asset class of Ponzis for a whole variety of assets scams from NFTs to DAOs... Hope this clears things up for you... Mark Cuban, is that you? Lol. Truly, you have a dizzying intellect. I'm so much more enlightened about "crypto" now. Sorry about being a prick back to you, but when people try to condescend me, well...
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Wilhelm
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June 20, 2022, 02:50:50 PM |
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2. You don't understand the difference between crypto and Bitcoin.
Why don't you explain it to me genius. Bitcoin is Crypto but crypto isn't Bitcoin. Crypto is an asset class for a whole variety of assets from NFTs to DAOs... Hope this clears things up for you... Mark Cuban, is that you? Lol. Truly, you have a dizzying intellect. I'm so much more enlightened about "crypto" now. No I'm not that poor You're welcome !
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eXPHorizon
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Precision Beats Power and Timing Beats Speed.
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June 20, 2022, 02:51:35 PM Last edit: June 20, 2022, 03:03:24 PM by eXPHorizon |
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ChartBuddy
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1CBuddyxy4FerT3hzMmi1Jz48ESzRw1ZzZ
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June 20, 2022, 03:03:33 PM |
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BitcoinBunny
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June 20, 2022, 03:04:45 PM |
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Bitcoin can be called a cryptocurrency, that's fine - although it is more than that, but others that carry that name are just scams and/or bad copies. Simples. Tokenisation of things and NFTs are all further bolted on nonsense that don't solve anything or try to target small audiences (tokens for exchanges etc). It is all taking things in the wrong direction, really. Bitcoin will be the only one left standing after scammers of these distractions die off or have scammed enough money to finally fuck off out of the scene just like Charlie Lee and Roger Ver.
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ivomm
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All good things to those who wait
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June 20, 2022, 03:05:48 PM Last edit: June 21, 2022, 08:51:44 AM by ivomm Merited by JayJuanGee (1) |
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M.Saylor makes a list of what exacerbates bitcoin downside (and what to do to improve): https://youtu.be/ckl08Rtq9zA?t=34141. wash sale nonexistence for bitcoin. I agree that it is a downer even, though, I (and many others) use it at least sometimes. 2. high leverage on exchanges. 3. cryptotokens-19 thou unregistered securities. Thinks 6-10 are NOT securities. 4. crypto hedge funds are wildcat banks with high leverage. 5. ignorance..don't use crypto and bitcoin interchangeably. 6. lack of a true stable coin...does not like tether...likes circle and paxos better. wants daily reports of assets. 7. lack of a spot etf. 8. no clear guidance from agencies. 9. need more development of Lightning...which is clearly forthcoming. "None of this would be fixed in 3mo, but in 10 years, 80% would be". brilliant.... Remember how during the spectacular bull run from 10K to 40K, with no correction, we all thought "This time it is different. Big institutions are buying and they will never sell on a loss, hence there will be no major correction." Hahaha, how delusional! Now, practically every hedge fund and company which uses loans with liquidation options are selling on a huge loss, as if we are having an asset which is dead and will never recover. What about the famous ETFs? Purpose ETF for example is now having 618M in Bitcoins, 781M less than on 16.06 and 1.6B less that the peak. I thought ETFs don't work during weekends, but from https://www.coinglass.com/etf it is evident that these bitcoins were withdrawn on 18.06. May be they participated in the historic crash below 20K. So, all these hopes for institutional adoption now appear to be false. The institutions are way more vulnerable to crashes than the veteran hodlers. So, we have to look upon them as extremely weak hands. Michael Saylor is right of course, but to think that these problems will be solved soon is pure hopium. Who will force Binance, Bitfinex or any other non US exchange to ban leverage 20x? And when the foolish people will stop giving their money to companies with big promises? I think the answer to all these questions is never! So, if SEC gives approval for a spot ETF, this may lead to buy the rumor sell the news event. Soon after the ETF starts, more dumping will follow, especially if it is GBTC, where almost all coins were bought in the 10-20K range. I really hope that the situation for the next halving cycle be better, so we can reach and break 100K mark. But I don't expect the FOMO to last long enough to stay in the 100K-200K range. Of course, it is too early to tell, but I plan to sell something in that range, so in case of another 50%+ crash to buy back my coins and remain with half of the fiat profit. Hopefully, I will do better job this time. At least I bought back the coins that I spent with the intention to buy a house, which didn't happen. And I could sacrifice a little bit more of my retirement savings to buy back a few more coins if we drop below 17K.
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Wilhelm
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June 20, 2022, 03:12:24 PM |
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We broke $21k... it was a nice few seconds
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Gambit2s
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June 20, 2022, 03:23:52 PM |
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We broke $21k... it was a nice few seconds
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machasm
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June 20, 2022, 03:26:37 PM Merited by JayJuanGee (1) |
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So while playing badminton today I was muttering to a fellow club member about the current state of finance and where were people putting these $ they were so quick to run to? 'Gold' he exclaimed excitedly. He then went on to tell me how easy it was to purchase "gold" in his banking app! I then told him that they already tried that once and it was called the dollar! God help us all. I really and truly believe that the vast majority of people do not understand what money is and how to protect their wealth. This is also true for Bitcoin. The populace have a real chance to hold on to something that is truly valuable but instead drop it like a hot potato as soon as there is a run to the dollar. Go figure. Maybe it is just too radical and people are just too preoccupied or I don't know? I am still holding though and will probably take what I have to my grave.
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Khanvila78
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Bounty campaign manager....
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June 20, 2022, 03:30:08 PM |
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JUST IN - Luxury real estate broker Vietnam Homes is now the first in the country to accept bitcoin.
Link:https://twitter.com/BitcoinMagazine/status/1538889922257596418
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BitcoinBunny
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June 20, 2022, 03:33:12 PM Merited by JayJuanGee (1) |
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So while playing badminton today I was muttering to a fellow club member about the current state of finance and where were people putting these $ they were so quick to run to? 'Gold' he exclaimed excitedly. He then went on to tell me how easy it was to purchase "gold" in his banking app! I then told him that they already tried that once and it was called the dollar! God help us all. I really and truly believe that the vast majority of people do not understand what money is and how to protect their wealth. This is also true for Bitcoin. The populace have a real chance to hold on to something that is truly valuable but instead drop it like a hot potato as soon as there is a run to the dollar. Go figure. Maybe it is just too radical and people are just too preoccupied or I don't know? I am still holding though and will probably take what I have to my grave.
Unless you are storing it at home buying gold is akin to a scam token. You don't really know if there is a physical side to it or if it only exists on paper. It's rather meaningless when you are tied to a certain institution that is "holding" it (or should be holding it) on your behalf. You pay annual storage fees for something that might not even exist in the correct amounts. No one under the age of 35 cares about gold. They care more about the next iPhone. This says enough surely. In the digital age, gold is now merely a generational thing that will probably die off as an investment opportunity over the next 50-100 years.
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Khanvila78
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Bounty campaign manager....
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June 20, 2022, 03:34:21 PM |
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Bitcoin critics be like Link:https://twitter.com/BitcoinMagazine/status/1538584742664327169
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DVlog
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Tontogether | Save Smart & Win Big
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June 20, 2022, 03:38:47 PM |
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We broke $21k... it was a nice few seconds These won't last long for sure. The market looks still weak and a flash crash towards 14k is expected to liquidate some VCs and Institution's positions. If wants to take a risk now go ahead.
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empowering
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June 20, 2022, 03:39:20 PM Last edit: June 20, 2022, 03:51:27 PM by empowering |
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I do not see BTC going away.
I do not see "altcoins" or other cryptocurrencies, going away. (yes of course some will)
I see blockchains, taking over the world.
BTC has unique properties, and a unique value proposition, is the first to be adopted and built upon and has the most meaningful, network, and the most decentralised (though not decentralised or distributed enough)
Most other cryptocurrencies, are , not even trying to be "currencies" and are not trying to be BTC, and have totally different value propositions and totally different needs ....and require, in some cases less decentralisation to achieve what they are trying to do, which in 99% of cases is something totally different to BTC.
I disagree that the problems that some altcoins are attempting to resolve are unimportant or "too small"
I personally think, people should remember that they are different things, trying to do different things, and talking about them as if they are the same is a mistake (and this applies both to proponents and adversaries)
I for sure see a multichain, multi layer, multi blockchain, tokenised world, where I sincerely hope, more of the worlds middlemen are disintermediated by useful, blockchains.. I am here for that, so very very much.
IMO, interoperability and composability, are great.
I do not think that altcoins take away from BTC, not even that much as far as price is concerned (which it appears is most peoples real issue)
They are just not the same thing.
I want to see it ALL thrive and improve..... and, I would almost bet the house on the fact that the space, call it what you want, will continue to grow, and improve, and thrive...and yes that includes getting rid of the real shittiest of shit.
Personally, I would even be very interested to see what could come next, something which is even better than BTC... I mean, wouldn't that be something ? imagine that, something NEW that comes along and makes most BTC holders think, yes, yes this , this is even better... would you support it? I wonder how many would be able to see it even if it were in front of their faces.. I wonder how many would be able to be objective about it? (and would talk about it in public BEFORE they gained a meaningful position)
Anyways.... just my point of view.
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machasm
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June 20, 2022, 03:40:42 PM |
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So while playing badminton today I was muttering to a fellow club member about the current state of finance and where were people putting these $ they were so quick to run to? 'Gold' he exclaimed excitedly. He then went on to tell me how easy it was to purchase "gold" in his banking app! I then told him that they already tried that once and it was called the dollar! God help us all. I really and truly believe that the vast majority of people do not understand what money is and how to protect their wealth. This is also true for Bitcoin. The populace have a real chance to hold on to something that is truly valuable but instead drop it like a hot potato as soon as there is a run to the dollar. Go figure. Maybe it is just too radical and people are just too preoccupied or I don't know? I am still holding though and will probably take what I have to my grave.
Unless you are storing it at home buying gold is akin to a scam token. You don't really know if there is a physical side to it or if it only exists on paper. It's rather meaningless when you are tied to a certain institution that is "holding" it (or should be holding it) on your behalf. You pay annual storage fees for something that might not even exist in the correct amounts. No one under the age of 35 cares about gold. They care more about the next iPhone. This says enough surely. In the digital age, gold is now merely a generational thing that will probably die off as an investment opportunity over the next 50-100 years. Yes I know that hence my reply re the dollar. I didn't bother to elaborate as it was evident that he was unable to grasp the fact that it might not be real!
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proudhon
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The price of bitcoin will not stay above $20k for more than 1 month ever again. Guaranteed.
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JayJuanGee
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Self-Custody is a right. Say no to"Non-custodial"
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June 20, 2022, 03:48:53 PM |
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The amount of time we are taking on these levels which are below 200 MA is what scares the shit out of me.
+1 to that. But to be fair it is a weekend. Which is why they dumped in the first place. We were already in a channel more or less under 200 WMA, between about that and ~10% below. IMO, it had been doing that for long enough to be teetering on borderline breakage. I had been hoping for a scenario like August–September 2015—scraping along just below/just above for a month, then recovering. At this point, since we crashed even below the previous cycle top (even in nominal dollars, never mind real value!), I think that 200 WMA is quite dead. Not “Bitcoin is dead”: Excessive reliance on a technical indicator is dead. Gold had a two-decade extreme bear market. Anyone who bought gold at the wrong time had to wait an awful lot longer than four years to be not underwater. I also think that was a politically motivated economic attack, though I don’t want to get into off-topic discussion here that will derail into other matters. (I have mentioned this in some prior post, a few weeks ago... Something about gold-producing countries under international sanctions.) Only fools declared gold dead. Smart people bought gold as low as ~$260, not so very long ago. If we can escape from erroneous thinking about Bitcoin as “like a stock”, and really start treating it as digital gold, then there is ample precedent for shrugging off much worse crashes and bear markets than I now anticipate. As bad as this one is. Even if we are still nowhere near the bottom—maybe; maybe not; I am realistically pessimistic, but not prepared to make a call either way.
The amount of time we are taking on these levels which are below 200 WMA is what scares the shit out of me.
Low IQ Finds TA = Astrology. FTFY. As an inveterate pedant, I could not resist. The previous cycle high was the *last* piece of TA that BTC chart had not violated previously. ... It was an almost religious symbol to some ppl. Now that violation has happened, individuals have to make their decision... either say: 1. ' this indicates some serious imminent unknown, so BTC is broken in some way' or 2. ' No form of TA applies anymore, so HODL as an act of pure faith' Gold historical comparison is a helpful justification for (2), which is probably the line most WO posters would take. Wow! I am surprised that you received so many merits for such gobble-dey-gook, and I was going to send you an smerit my lil selfie just because I was glad to see you, but I could not bring myself to click on the send button after I read what you actually posted. You are presented a false dichotomy. Instead of a solution for your word-salad puzzle as: "why not both...?" I would say: "why not neither?" They are both pretty dumb and kind of infused with exaggerated doom and gloom, but I am still glad to see you back to tell us that it will take us 1-2 years at best to get back above some random upper price... what is the unreachable price barrie this time? $30k? Or 100-week moving average? or some other number? I could almost cite word for word your last proclamation about not getting back above $10k in the next couple of years.. You made that in May/June 2020.. How is it that your handler gets a budget when matters are not looking too good in bitcoinlandia? Everyone is broke. Does your handler print its budget and promise to give it to you higher Cantillon priority? justasking
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empowering
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June 20, 2022, 03:56:04 PM |
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The amount of time we are taking on these levels which are below 200 MA is what scares the shit out of me.
+1 to that. But to be fair it is a weekend. Which is why they dumped in the first place. We were already in a channel more or less under 200 WMA, between about that and ~10% below. IMO, it had been doing that for long enough to be teetering on borderline breakage. I had been hoping for a scenario like August–September 2015—scraping along just below/just above for a month, then recovering. At this point, since we crashed even below the previous cycle top (even in nominal dollars, never mind real value!), I think that 200 WMA is quite dead. Not “Bitcoin is dead”: Excessive reliance on a technical indicator is dead. Gold had a two-decade extreme bear market. Anyone who bought gold at the wrong time had to wait an awful lot longer than four years to be not underwater. I also think that was a politically motivated economic attack, though I don’t want to get into off-topic discussion here that will derail into other matters. (I have mentioned this in some prior post, a few weeks ago... Something about gold-producing countries under international sanctions.) Only fools declared gold dead. Smart people bought gold as low as ~$260, not so very long ago. If we can escape from erroneous thinking about Bitcoin as “like a stock”, and really start treating it as digital gold, then there is ample precedent for shrugging off much worse crashes and bear markets than I now anticipate. As bad as this one is. Even if we are still nowhere near the bottom—maybe; maybe not; I am realistically pessimistic, but not prepared to make a call either way.
The amount of time we are taking on these levels which are below 200 WMA is what scares the shit out of me.
Low IQ Finds TA = Astrology. FTFY. As an inveterate pedant, I could not resist. The previous cycle high was the *last* piece of TA that BTC chart had not violated previously. ... It was an almost religious symbol to some ppl. Now that violation has happened, individuals have to make their decision... either say: 1. ' this indicates some serious imminent unknown, so BTC is broken in some way' or 2. ' No form of TA applies anymore, so HODL as an act of pure faith' Gold historical comparison is a helpful justification for (2), which is probably the line most WO posters would take. Hmmmm... personally I would not consider the last ATH as having been broken, until it has at the very least been opened and closed below, by a long term timeframe (weekly at the minimum or above)
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