scottbeard Posted March 18 Share Posted March 18 Meanwhile away from the world of crypto, here is someone who *definitely* benefitted from HODLing https://www.bbc.co.uk/news/world-us-canada-68583149 "A Californian man has described "holding on for dear life" as he sat on an Alaska Airlines flight inches away from a gaping hole which appeared when an unused door flew off mid-flight." Quote Link to comment Share on other sites More sharing options...
Gbob Posted March 19 Share Posted March 19 8 hours ago, scottbeard said: Meanwhile away from the world of crypto, here is someone who *definitely* benefitted from HODLing https://www.bbc.co.uk/news/world-us-canada-68583149 "A Californian man has described "holding on for dear life" as he sat on an Alaska Airlines flight inches away from a gaping hole which appeared when an unused door flew off mid-flight." Perhaps "it fell out through the door of an aeroplane" will become the new "boating accident" Quote Link to comment Share on other sites More sharing options...
PropertyMania Posted March 19 Share Posted March 19 18 hours ago, dannyf said: You can add me to your list of people. I’ve bought hard drives with bitcoin from newegg.com in the past. I’ve also paid for VPN service with bitcoin. I didn’t find it expensive or slow. In fact it was confirmed on the blockchain much much faster than a credit card transaction is finalised and no longer reversible. And it was much cheaper than the 1.5-3.5% credit card merchant fees. Of course, given Greshams law, I did immediately add back to my balance via Coinbase using depreciating fiat. reversibility is a feature, not a bug. Hence why so much more fraud in bitcoin transactions Quote Link to comment Share on other sites More sharing options...
PropertyMania Posted March 19 Share Posted March 19 17 hours ago, scottbeard said: Eh? Of course my mind is made up The difference is that the bitcoin I bought for $3000 is now worth $67000 Im not quite sure why you believe your position is better but you’re entitled to it and welcome to it how long do you plan to hold? Quote Link to comment Share on other sites More sharing options...
scottbeard Posted March 19 Share Posted March 19 3 minutes ago, PropertyMania said: how long do you plan to hold? As above I think i'll just sell a bit roundabout the coming milestones ... $100k, $200k ... and then hold a bit more just in case the fanatics who say it's going to $6 million turn out to be right all along. Sure if I've only got 0.25 BTC left by then I only get $1.5 million but I think I won't be crying too hard into my pillow as I work out how to spend that...equally if it collapses back down to a low level again I will have exited with some profit and can look back in my old age to say that at least I got a bob or two out of the great Bitcoin bubble. Quote Link to comment Share on other sites More sharing options...
PropertyMania Posted March 19 Share Posted March 19 17 minutes ago, scottbeard said: As above I think i'll just sell a bit roundabout the coming milestones ... $100k, $200k ... and then hold a bit more just in case the fanatics who say it's going to $6 million turn out to be right all along. Sure if I've only got 0.25 BTC left by then I only get $1.5 million but I think I won't be crying too hard into my pillow as I work out how to spend that...equally if it collapses back down to a low level again I will have exited with some profit and can look back in my old age to say that at least I got a bob or two out of the great Bitcoin bubble. and it it never reaches 100k you just hold forever? Quote Link to comment Share on other sites More sharing options...
scottbeard Posted March 19 Share Posted March 19 10 minutes ago, PropertyMania said: and it it never reaches 100k you just hold forever? It seems implausible that it never reaches 100k with the dollar's value depreciating every year. But yes what I said was I'd hold it to whichever came first $0 or $100k. In reality I'd probably sell at about $95k since there will be a lot of resistance at $100k itself as loads of people will do the same thing. Quote Link to comment Share on other sites More sharing options...
PropertyMania Posted March 19 Share Posted March 19 (edited) 8 minutes ago, scottbeard said: It seems implausible that it never reaches 100k with the dollar's value depreciating every year. But yes what I said was I'd hold it to whichever came first $0 or $100k. In reality I'd probably sell at about $95k since there will be a lot of resistance at $100k itself as loads of people will do the same thing. If Bitcoin was the future of money, would there be resistance around an arbitrary fiat round number? remember to put your private keys in your will! Edited March 19 by PropertyMania Quote Link to comment Share on other sites More sharing options...
Jonesy74 Posted March 19 Share Posted March 19 7 minutes ago, PropertyMania said: If Bitcoin was the future of money, would there be resistance around an arbitrary fiat round number? remember to put your private keys in your will! It is bought and sold by humans who are trying to predict the price action caused by the actions of other humans. So yes, being the future of money does not make it immune to human behaviour Quote Link to comment Share on other sites More sharing options...
Jonesy74 Posted March 19 Share Posted March 19 1 hour ago, PropertyMania said: reversibility is a feature, not a bug. Hence why so much more fraud in bitcoin transactions You can have a credit card/banking like system on top of bitcoin with that feature if it’s desired, but you don’t want the underlying money itself to be reversible, just like cash isn’t reversible and gold isn’t reversible. Trustless money is impossible if you have to trust someone won’t reverse transactions Quote Link to comment Share on other sites More sharing options...
PropertyMania Posted March 19 Share Posted March 19 1 minute ago, dannyf said: You can have a credit card/banking like system on top of bitcoin with that feature if it’s desired, but you don’t want the underlying money itself to be reversible, just like cash isn’t reversible and gold isn’t reversible. Trustless money is impossible if you have to trust someone won’t reverse transactions both parties usually want a middleman in a transaction, for safety. Visa isn't going to run off with your money Quote Link to comment Share on other sites More sharing options...
Lucky Larry Posted March 19 Share Posted March 19 Do people seriously believe the banking cartel who has taken centuries to take control of society will just sit back and allow all their power to be eroded by the invisible man with the invisible coins ? They either control the new system or they will have it outlawed. These people have had control of the most powerful and richest countries on the planet for a long long time and they won't let the plebs take it away from them. Quote Link to comment Share on other sites More sharing options...
scottbeard Posted March 19 Share Posted March 19 9 minutes ago, Lucky Larry said: Do people seriously believe the banking cartel who has taken centuries to take control of society will just sit back and allow all their power to be eroded by the invisible man with the invisible coins ? They either control the new system or they will have it outlawed. These people have had control of the most powerful and richest countries on the planet for a long long time and they won't let the plebs take it away from them. It doesn't matter Bitcoin has been a way to essentially make free money Did you make some? If not you missed out and that was an oversight Quote Link to comment Share on other sites More sharing options...
PropertyMania Posted March 19 Share Posted March 19 (edited) 7 minutes ago, scottbeard said: It doesn't matter Bitcoin has been a way to essentially make free money Did you make some? If not you missed out and that was an oversight Free money, are you kidding? This is classic ponzi thinking. It's zero sum. Your gain is always someone else's loss (plus the permanently lost cost of wasted electricity) Edited March 19 by PropertyMania Quote Link to comment Share on other sites More sharing options...
Lucky Larry Posted March 19 Share Posted March 19 2 minutes ago, scottbeard said: It doesn't matter Bitcoin has been a way to essentially make free money Did you make some? If not you missed out and that was an oversight It doesn't matter YET to some. Lots of people have lost a lot of money in the roller coaster that is crypto , from 1k down to 200 then from 20k down to 4k then from 67k down to 16k , anyone who bought near the top and sold in a panic as it crashed (as people do) lost . It's a casino and not everyone wins at the casino except those running it . It's always strange that online you never meet anyone who lost or who admits blowing their wages at the bookies you only meet the winners or those claiming they have won . For a forum desperate for a HPC so they can afford to buy a house it seems to be populated with posters on 6 figure wages and 7 figure savings accounts Quote Link to comment Share on other sites More sharing options...
scottbeard Posted March 19 Share Posted March 19 4 minutes ago, PropertyMania said: Free money, are you kidding? This is classic ponzi thinking. It's zero sum. Your gain is always someone else's loss (plus the permanently lost cost of wasted electricity) Yes I've gained and someone else has lost In effect it is a ponzi scheme and the early people will win and the later people will lose But the correct play is to be an early person not to ignore it Quote Link to comment Share on other sites More sharing options...
Lucky Larry Posted March 19 Share Posted March 19 5 minutes ago, PropertyMania said: Free money, are you kidding? This is classic ponzi thinking. It's zero sum. Your gain is always someone else's loss (plus the permanently lost cost of wasted electricity) House Prices Bitcoin only go up Quote Link to comment Share on other sites More sharing options...
Jonesy74 Posted March 19 Share Posted March 19 1 minute ago, Lucky Larry said: It doesn't matter YET to some. Lots of people have lost a lot of money in the roller coaster that is crypto , from 1k down to 200 then from 20k down to 4k then from 67k down to 16k , anyone who bought near the top and sold in a panic as it crashed (as people do) lost . It's a casino and not everyone wins at the casino except those running it . It's always strange that online you never meet anyone who lost or who admits blowing their wages at the bookies you only meet the winners or those claiming they have won . For a forum desperate for a HPC so they can afford to buy a house it seems to be populated with posters on 6 figure wages and 7 figure savings accounts Thankfully nobody ever lost money in stocks, gold, fiat, art, classic cars 😂 Quote Link to comment Share on other sites More sharing options...
scottbeard Posted March 19 Share Posted March 19 1 minute ago, Lucky Larry said: It doesn't matter YET to some. Lots of people have lost a lot of money in the roller coaster that is crypto , from 1k down to 200 then from 20k down to 4k then from 67k down to 16k , anyone who bought near the top and sold in a panic as it crashed (as people do) lost . It's a casino and not everyone wins at the casino except those running it . It's always strange that online you never meet anyone who lost or who admits blowing their wages at the bookies you only meet the winners or those claiming they have won . For a forum desperate for a HPC so they can afford to buy a house it seems to be populated with posters on 6 figure wages and 7 figure savings accounts Yep and lots more people will lose lots more money too. Equal.t many will win For some it's the future of money, for me it's a horse that's on a winning streak If you don't want to play you won't win, your choice The forum has all sorts of people, but it should be surprising that winners should loudest And I'm a very very small player in crypto space Quote Link to comment Share on other sites More sharing options...
Lucky Larry Posted March 19 Share Posted March 19 1 minute ago, scottbeard said: Yes I've gained and someone else has lost In effect it is a ponzi scheme and the early people will win and the later people will lose But the correct play is to be an early person not to ignore it hahahaha but please everyone , if you've not bought yet jump on the titanic as I'm getting on the lifeboat Quote Link to comment Share on other sites More sharing options...
scottbeard Posted March 19 Share Posted March 19 2 minutes ago, Lucky Larry said: House Prices Bitcoin only go up Again, all you have to do is sell before they go down A horse doesn't have to win every race of the year to make you money, just the race you bet on it for Quote Link to comment Share on other sites More sharing options...
Lucky Larry Posted March 19 Share Posted March 19 Just now, scottbeard said: but it should be surprising that winners should loudest I assume you meant shout, there's another saying "empty vessels make the most noise" Quote Link to comment Share on other sites More sharing options...
scottbeard Posted March 19 Share Posted March 19 1 minute ago, Lucky Larry said: hahahaha but please everyone , if you've not bought yet jump on the titanic as I'm getting on the lifeboat At no point have I suggested you or anyone else should buy any bitcoin, just that over 2013 to 2024 this thread has sat here in your face every day and you could have acted and made money and you didn't What you do now and what happens from here is anyone's guess Quote Link to comment Share on other sites More sharing options...
scottbeard Posted March 19 Share Posted March 19 1 minute ago, Lucky Larry said: I assume you meant shout, there's another saying "empty vessels make the most noise" Well then, why are you on this thread talking to them? Quote Link to comment Share on other sites More sharing options...
Huggy Posted March 19 Share Posted March 19 Just now, Lucky Larry said: I assume you meant shout, there's another saying "empty vessels make the most noise" As do Bitcoiners when they cash out their mad gainz. 15,000% average return (realised gains no less), two weeks last Sunday had me squealing like the tickle monster had me. 25,000% unrealised right now, well you can imagine the racket Quote Link to comment Share on other sites More sharing options...
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