The Bubbly Bitcoin Thread -- Merged Threads

[RodCrosby]

1 minute ago, dannyf said:

We don’t need or want you to buy it. Keep your fiat, it’s the only money worthy of your intelligence 

They are delusional.

As if the addition of a troll from here - or thousands of other obscure forums - could shift the value of a single satoshi...

LOL

[wighty]

Why are you guys letting (UN)Lucklarry get up your nose?.

He's obviously green with envy and is seeking solace in Bit holders losing money. Like he's done by missing out.

[RodCrosby]

As I said:

Don't engage.

He'll disappear once bitcoin resumes its inexorable upward trajectory to $1 million+

[Lagarde's Drift]

11 hours ago, Bruce Banner said:

I don't know if I've posted this before, but when Bitcoin was priced at $1 a pop, I very nearly bought 1,000 of them as a speculative punt. Oh well, you can't win them all .

Weve found Bruce's real identity!

https://www.unilad.com/news/money/bitcoin-davinci-jeremie-where-is-he-now-320729-20230803 😁😁

This guy is a scammer btw stay away

[RodCrosby]

Oh, Look.

$68k

As you were...

DON'T engage with TROLLS.

We are the Diamond Hands.

[Grayphil]

1 hour ago, RodCrosby said:

Oh, Look.

$68k

As you were...

DON'T engage with TROLLS.

We are the Diamond Hands.

It is a wild ride, I'm small fry completely here, I have a panic when I see my Crypto investment changing by the hundreds in one day, but some of you guys are probably seeing daily swings in the 10s of 1000s of pounds if not more.

With bitcoin up nearly 9% as I write, this must surely be beautiful madness for the big boys here.

However I get  so excited I struggle to sleep now, gawd knows how you guys that were properly early to get in are managing this, with what may be life changing sums

Happy for you Rod..!

Still complete madness though!

 

 

[Lagarde's Drift]

1 minute ago, Grayphil said:

It is a wild ride, I'm small fry completely here, I have a panic when I see my Crypto investment changing by the hundreds in one day, but some of you guys are probably seeing daily swings in the 10s of 1000s of pounds if not more.

With bitcoin up nearly 9% as I write, this must surely be beautiful madness for the big boys here.

However I get  so excited I struggle to sleep now, gawd knows how you guys that were properly early to get in are managing this, with what may be life changing sums

Happy for you Rod..!

Still complete madness though!

 

 

Just zoom out. If you must look at a chart use the monthly one.

[Grayphil]

1 hour ago, Lagarde's Drift said:

Just zoom out. If you must look at a chart use the monthly one.

Yerrr probably sound advice!

[RodCrosby]

(deleted)

Edited March 20 by RodCrosby

[RodCrosby]

42 minutes ago, Lagarde's Drift said:

Just zoom out. If you must look at a chart use the monthly one.

Indeed.

So far, 7 months of straight gains.

NEVER seen before in Bitcoin...

Wise up, Everyone !

Edited March 20 by RodCrosby

[Jonesy74]

2 hours ago, Grayphil said:

It is a wild ride, I'm small fry completely here, I have a panic when I see my Crypto investment changing by the hundreds in one day, but some of you guys are probably seeing daily swings in the 10s of 1000s of pounds if not more.

With bitcoin up nearly 9% as I write, this must surely be beautiful madness for the big boys here.

However I get  so excited I struggle to sleep now, gawd knows how you guys that were properly early to get in are managing this, with what may be life changing sums

Happy for you Rod..!

Still complete madness though!

 

 

Have a diversified portfolio, zoom out, and relax. This time next year Rodders 

[MonsieurCopperCrutch]

On 3/15/2024 at 5:22 PM, scottbeard said:

This is exactly why MCCs rudeness to me is completely unjustified.  This thread title is exactly right - bitcoin is just a speculative bubble and the only question is when to get out.

If your horse wins three races in a row do you put all your winnings on it again or go home thinking “good day at the races”

I simply cannot see bitcoin going above $200k and I cannot see it transformed life as we know it.

Oh they say, that’s what people said when it was $1 and $100 and $10000.  Yes they did indeed.  But at some level they’ll be right.  Cashing out with a 5 figure profit rather than zero has a lot going for it rather than holding out for a 7 figure profit that never happens.

But each to their own.  If I’d bought bitcoin at the level MCC did I’d have sold years ago because I am risk averse and not a Bitcoin believer.  Everyone must trade according to their personal convictions and risk appetite: investment 101

My apologies for my abrupt rudeness previously. It just angers me when I read such flippant ill-educated thoughts from others who profess they own Bitcoin yet still have to appreciate exactly what they hodl.

I've been into Bitcoin since 2013 and despite an extremly cheap side hustle into Ethereum at ICO in 2015 which I still hodl I'm 95% in Bitcoin. I don't know about you but my university education is from a background of economics, finance, cryptopgraphy, history, and technology so when I stumbled upon the Bitcoin whitepaper I immediately started buying whole Bitcoin month-in month-out. I weathered all the peaks and troughs since then, seeing my portfolio get wiped by tens of thousands, then hundreds of thousands, and now millions. But unlike you I have never faltered. Yes I've decided to DCA a portion out but believe me I will never ever sell all my precious hard earned Bitcoin. EVER. Because I know their true value. 

That said. You must do as you must for your own personal convictions and from your own personal education and beliefs. However just as I can guaratee to you now if you cash out everything you will regret it as much as @jiltedjen 

Peace out. 

[MonsieurCopperCrutch]

5 hours ago, dannyf said:

Man joins bitcoin thread and is shocked to find people who support bitcoin discussing bitcoin

Just wait until @Lucky Larry discovers what they talk about in the Gold thread. 

[MonsieurCopperCrutch]

On 3/17/2024 at 11:15 PM, scottbeard said:

No, I don't know.  I have suspicions, but I don't KNOW.  I am wary of claims from those that "KNOW" the future, too.

You don't need to "KNOW" the future you just need to know the code. Have you actually read and understood the WP? I have my suspicions. 

[MonsieurCopperCrutch]

15 hours ago, RodCrosby said:

And they'll still be giving us the same-old, same-old when BTC is $1 million...

Yup. This thread will still be posted on here at the top of the forum of those priced out of purchasing houses in fiat and berating those that dared to take on the bankster cartels at their own game.

You buy the Bitcoin at the price you deserve. That's it. That's the fact.

[dugsbody]

7 hours ago, MonsieurCopperCrutch said:

You don't need to "KNOW" the future you just need to know the code. Have you actually read and understood the WP? I have my suspicions. 

The white paper proposes a trustless electronic transaction system which also solves the double spend problem. It goes into technical details about how. That's it. It is flawed in certain respects (no, the price of bitcoin has nothing to do with proof or disproof of the flaws).

It doesn't take a large intellect to understand the paper, and understanding it has nothing to do with believing that it is actually solving a necessary problem. Some people think it is a solution to a problem that needs solving (that's you). Other's think it is a solution looking for the problem.

If you think it is a solution looking for a problem, you can still think the price will keep going up. The two views are not contradictory.

Don't get angry when people don't agree with your views and it's shallow thinking to think if people don't think like you then they "obviously don't understand the white paper". Try to open your mind and also .... enjoy your mad gainz.

 

[dugsbody]

11 hours ago, Grayphil said:

It is a wild ride, I'm small fry completely here, I have a panic when I see my Crypto investment changing by the hundreds in one day, but some of you guys are probably seeing daily swings in the 10s of 1000s of pounds if not more.

With bitcoin up nearly 9% as I write, this must surely be beautiful madness for the big boys here.

However I get  so excited I struggle to sleep now, gawd knows how you guys that were properly early to get in are managing this, with what may be life changing sums

Happy for you Rod..!

Still complete madness though!

I'm not one of the "big boys" I only invested about £20k into BTC back in 2017, and made a really stupid mistake of selling one whole BTC for junk XRP at the peak and promptly lost 95% of it's value (lesson learned, stay out of sh1tcoins).

But it amounts to about 20% of my portfolio now, which is quite a chunk. The thing I did in 2017 when I bought was I immediately wrote the money off. It isn't on my wealth tracker spreadsheet at all. That money is gone. What I hold instead is a lotto ticket that will either be worth nothing, or it will take me over the line to financial freedom from work. But I don't worry about it, precisely because it is a lotto ticket. I've got solid plans that don't rely on BTC anyway.

Try to hold it that way. Treat the money as gone already.

[dugsbody]

On 20/03/2024 at 09:52, Lucky Larry said:

And you don't understand how powerful and controlling TPTB are , if they choose to make it illegal to transact in it then it becomes obsolete in the business community and of no value to them . If TPTB allow it to take over from the current fiat ponzi scam that they operate and control the world with then you know they control it as well so its not a solution to free yourself from central control

TPTB have already sanctioned bitcoin by allowing people to hold it in ETFs and created specific financial rules around it.

I would say it is extremely unlikely that after giving people the go-ahead to put their money into a product, they'll suddenly ban it and wipe out a lot of people who trusted the rules to go ahead.

So yes, in theory, the US could suddenly ban the holding or transacting of all crypto. They could in theory do that. They won't, but even if they did, that would mean a temporary price crash off that back of that event, but it cannot stop bitcoin. That's the entire point of bitcoin - it does not need any central authority to function and as long as there is a way of communicating information between parties in a sufficiently efficient manner, it can continue to function.

One thing a government can do is ban on and off-ramps, meaning if you live in a country with a ban like this, there is no legal or easy manner to actually do anything with your crypto. But if you live in such a country, then it is all the more incentive to accumulate bitcoin so you can simply take your usb drive and flee the country and cash out in a less authoritarian place.

[scottbeard]

9 hours ago, MonsieurCopperCrutch said:

My apologies for my abrupt rudeness previously. It just angers me when I read such flippant ill-educated thoughts from others who profess they own Bitcoin yet still have to appreciate exactly what they hodl.

Apology accepted!  Emotions run high on the internet, and were we sat in the pub having a chat it would no doubt be punctuated by more laughs and less anger.

9 hours ago, MonsieurCopperCrutch said:

 But unlike you I have never faltered. Yes I've decided to DCA a portion out but believe me I will never ever sell all my precious hard earned Bitcoin. EVER. Because I know their true value. 

I don't get this at all - you've sold a bit but but won't sell it all.  Which makes you unlike me because ... I intend to sell a bit but won't sell it all?  This makes no sense because all you're doing is exactly what I'm doing but with more zeroes on the end?

9 hours ago, MonsieurCopperCrutch said:

That said. You must do as you must for your own personal convictions and from your own personal education and beliefs. However just as I can guaratee to you now if you cash out everything you will regret it as much as @jiltedjen 

Peace out. 

I am much too risk averse to own zero Bitcoin too!

8 hours ago, MonsieurCopperCrutch said:

You don't need to "KNOW" the future you just need to know the code. Have you actually read and understood the WP? I have my suspicions. 

I have not read all of it, no.

1 hour ago, dugsbody said:

Don't get angry when people don't agree with your views and it's shallow thinking to think if people don't think like you then they "obviously don't understand the white paper". Try to open your mind and also .... enjoy your mad gainz.

Indeed - why get angry at a random person on the internet who you don't know and don't care about? But we all do it because we all have emotion-driven monkey brains at the end of the day.

1 hour ago, dugsbody said:

I immediately wrote the money off. It isn't on my wealth tracker spreadsheet at all. That money is gone. 

Try to hold it that way. Treat the money as gone already.

Very interesting approach. 

[wighty]

10 hours ago, MonsieurCopperCrutch said:

You don't need to "KNOW" the future you just need to know the code. Have you actually read and understood the WP? I have my suspicions. 

Just a quote from Mark twain 

It's not what you don't know that trips you up. 

It's what you think you know for sure, but ain't necessarily so that bites your bum. 

[longgone]

https://www.cps.gov.uk/cps/news/specialist-cps-team-involved-uks-largest-bitcoin-seizure

 

 

An ex-takeaway worker has been convicted (Wednesday 20 March 2024) of laundering the proceeds which saw her rise from living above a Chinese restaurant to residing in a multi-million pound house in an affluent part of North London.

Jian Wen Scam you long time, 42, was found guilty at Southwark Crown Court of an offence relating to money laundering.

A Metropolitan Police investigation resulted in the CPS seizure of Bitcoin wallets from Wen, with an initial estimated value in excess of £2 billion. Prosecutors told the court the sheer scale of the seized Bitcoin, the lack of any legitimate evidence for how it was acquired and its connection to a massive investment fraud in China, all indicated that it was criminal property. The original fraud and acquisition of the Bitcoin was undertaken by another suspect who is yet to be arrested and brought before the court. Wen was involved in converting significant amounts of Bitcoin into cash and other expensive assets, on behalf of the international fraudster.

Prior to working for her “employer”, Wen lived a modest lifestyle in Leeds, with declared earnings in 2015 and 2016 of just £12,800 and £5,979. Her fortune changed significantly when she met the fellow Chinese national who was the source of the Bitcoin.

In 2017, they moved into a six-bedroom property in London, at a rental cost of over £17,000 each month. The two women presented themselves as successfully operating an international jewellery business, with Wen operating as the English-speaking and apparently legitimate front person for her employer. Wen was later joined by her young son, who moved from China to attend a private school in the UK, benefitting from her newly affluent lifestyle. Wen later stated that she had been gifted 3,000 Bitcoin, then valued at approximately £15 million, by her employer.

Between Autumn 2017 and late 2018, Wen made efforts to purchase properties in London, valued at £4.5 million, £23.5 million, and £12.5 million. She was hampered by difficulties converting sufficient Bitcoin into Sterling and by “know your customer” questions asked of her under anti-money laundering regulations. When challenged about the source of the proposed funding for the property purchases, Wen claimed it came from legitimate sources including Bitcoin mining, a claim that was ultimately not accepted by those she instructed to assist with the sale.

Between 2017 and 2019, Wen also travelled abroad extensively, throughout Europe and elsewhere, largely enabling the conversion of large amounts of Bitcoin into more tangible assets. A receipt addressed to Wen, for example, showed jewellery worth tens of thousands of pounds had been purchased in Zurich. In 2019, she travelled to Dubai, arranging to view a number of properties for sale. In October and November of that year, she went on to purchase two properties in Dubai. Their value in total amounted to more than £500,000.

Throughout the course of the investigation and subsequent trial, Wen denied knowing that any of the Bitcoin was derived from criminality and had no suspicions about its scale.

The CPS Proceeds of Crime Division used its civil powers to obtain a Property Freezing Order from the High Court against Wen whilst it undertakes a non-conviction-based civil recovery investigation.  That investigation could result in the forfeiture of the seized Bitcoin regardless of whether Wen or the other suspect are convicted.

Andrew Penhale, Chief Crown Prosecutor, said: “Bitcoin and other cryptocurrencies are increasingly being used by organised criminals to disguise and transfer assets, so that fraudsters may enjoy the benefits of their criminal conduct. This case, involving the largest cryptocurrency seizure in the UK, illustrates the scale of criminal proceeds available to those fraudsters.

“Although the original fraudster remains at large, the Metropolitan Police and CPS have successfully secured a money laundering  conviction against Jian Wen, an individual employed to launder criminal proceeds. The CPS will now work to ensure, through criminal confiscation and civil proceedings, that the criminal assets remain beyond the fraudsters’ reach.

“The CPS is committed to working closely with law enforcement and investigatory authorities, to bring to justice individuals and companies who engage in laundering criminal proceeds through cryptocurrency.”

Adrian Foster, Chief Crown Prosecutor said: “The CPS has used the full range of our criminal and non-conviction based civil asset recovery powers, to firstly freeze and then look to seize the very large quantity of cryptocurrency and other assets, used by Wen and her “employer” to fund their extravagant lifestyle. 

“We have worked with the Police to obtain freezing orders preserving all the seized cryptocurrency, and a CPS-led civil recovery investigation is running to establish that the frozen cryptocurrency is criminal property and to seek its forfeiture.”

Detective Chief Superintendent Jason Prins, Metropolitan Police, whose team led the investigation, said:  “Thanks to the hard work and perseverance of highly skilled detectives in the Met, we have been able to disrupt a sophisticated economic crime operation – the sheer scale of which demonstrates how international criminals seek to exploit cryptocurrency online. 

“Our team have helped secure justice today and have persevered to trace this Bitcoin and identify the criminality it was linked to. 

“Today’s verdict and lengthy five-year investigation demonstrates that we’ll leave no stone unturned in our pursuit to catch criminals who look to enjoy the proceeds of illicit funds – no matter how complex the case.”  

[markyh]

27 minutes ago, longgone said:

https://www.cps.gov.uk/cps/news/specialist-cps-team-involved-uks-largest-bitcoin-seizure

 

 

An ex-takeaway worker has been convicted (Wednesday 20 March 2024) of laundering the proceeds which saw her rise from living above a Chinese restaurant to residing in a multi-million pound house in an affluent part of North London.

Jian Wen Scam you long time, 42, was found guilty at Southwark Crown Court of an offence relating to money laundering.

A Metropolitan Police investigation resulted in the CPS seizure of Bitcoin wallets from Wen, with an initial estimated value in excess of £2 billion. Prosecutors told the court the sheer scale of the seized Bitcoin, the lack of any legitimate evidence for how it was acquired and its connection to a massive investment fraud in China, all indicated that it was criminal property. The original fraud and acquisition of the Bitcoin was undertaken by another suspect who is yet to be arrested and brought before the court. Wen was involved in converting significant amounts of Bitcoin into cash and other expensive assets, on behalf of the international fraudster.

Prior to working for her “employer”, Wen lived a modest lifestyle in Leeds, with declared earnings in 2015 and 2016 of just £12,800 and £5,979. Her fortune changed significantly when she met the fellow Chinese national who was the source of the Bitcoin.

In 2017, they moved into a six-bedroom property in London, at a rental cost of over £17,000 each month. The two women presented themselves as successfully operating an international jewellery business, with Wen operating as the English-speaking and apparently legitimate front person for her employer. Wen was later joined by her young son, who moved from China to attend a private school in the UK, benefitting from her newly affluent lifestyle. Wen later stated that she had been gifted 3,000 Bitcoin, then valued at approximately £15 million, by her employer.

Between Autumn 2017 and late 2018, Wen made efforts to purchase properties in London, valued at £4.5 million, £23.5 million, and £12.5 million. She was hampered by difficulties converting sufficient Bitcoin into Sterling and by “know your customer” questions asked of her under anti-money laundering regulations. When challenged about the source of the proposed funding for the property purchases, Wen claimed it came from legitimate sources including Bitcoin mining, a claim that was ultimately not accepted by those she instructed to assist with the sale.

Between 2017 and 2019, Wen also travelled abroad extensively, throughout Europe and elsewhere, largely enabling the conversion of large amounts of Bitcoin into more tangible assets. A receipt addressed to Wen, for example, showed jewellery worth tens of thousands of pounds had been purchased in Zurich. In 2019, she travelled to Dubai, arranging to view a number of properties for sale. In October and November of that year, she went on to purchase two properties in Dubai. Their value in total amounted to more than £500,000.

Throughout the course of the investigation and subsequent trial, Wen denied knowing that any of the Bitcoin was derived from criminality and had no suspicions about its scale.

The CPS Proceeds of Crime Division used its civil powers to obtain a Property Freezing Order from the High Court against Wen whilst it undertakes a non-conviction-based civil recovery investigation.  That investigation could result in the forfeiture of the seized Bitcoin regardless of whether Wen or the other suspect are convicted.

Andrew Penhale, Chief Crown Prosecutor, said: “Bitcoin and other cryptocurrencies are increasingly being used by organised criminals to disguise and transfer assets, so that fraudsters may enjoy the benefits of their criminal conduct. This case, involving the largest cryptocurrency seizure in the UK, illustrates the scale of criminal proceeds available to those fraudsters.

“Although the original fraudster remains at large, the Metropolitan Police and CPS have successfully secured a money laundering  conviction against Jian Wen, an individual employed to launder criminal proceeds. The CPS will now work to ensure, through criminal confiscation and civil proceedings, that the criminal assets remain beyond the fraudsters’ reach.

“The CPS is committed to working closely with law enforcement and investigatory authorities, to bring to justice individuals and companies who engage in laundering criminal proceeds through cryptocurrency.”

Adrian Foster, Chief Crown Prosecutor said: “The CPS has used the full range of our criminal and non-conviction based civil asset recovery powers, to firstly freeze and then look to seize the very large quantity of cryptocurrency and other assets, used by Wen and her “employer” to fund their extravagant lifestyle. 

“We have worked with the Police to obtain freezing orders preserving all the seized cryptocurrency, and a CPS-led civil recovery investigation is running to establish that the frozen cryptocurrency is criminal property and to seek its forfeiture.”

Detective Chief Superintendent Jason Prins, Metropolitan Police, whose team led the investigation, said:  “Thanks to the hard work and perseverance of highly skilled detectives in the Met, we have been able to disrupt a sophisticated economic crime operation – the sheer scale of which demonstrates how international criminals seek to exploit cryptocurrency online. 

“Our team have helped secure justice today and have persevered to trace this Bitcoin and identify the criminality it was linked to. 

“Today’s verdict and lengthy five-year investigation demonstrates that we’ll leave no stone unturned in our pursuit to catch criminals who look to enjoy the proceeds of illicit funds – no matter how complex the case.”  

The CPS Proceeds of Crime Division used its civil powers to obtain a Property Freezing Order from the High Court against Wen whilst it undertakes a non-conviction-based civil recovery investigation.  That investigation could result in the forfeiture of the seized Bitcoin regardless of whether Wen or the other suspect are convicted.

the Metropolitan Police and CPS have successfully secured a money laundering  conviction against Jian Wen, an individual employed to launder criminal proceeds. The CPS will now work to ensure, through criminal confiscation and civil proceedings, that the criminal assets remain beyond the fraudsters’ reach.

 

Those pictures above look like Cash to me.  They don't have shit regarding the Bitcoin.  If the Bitcoin isn't on a exchange wallet with a regulation agreement with the UK Gov, they cant to ****** all without Wen giving them the private keys or passwords. 

She just needs to lawyer up, take the fines , do a few years maybe, refuse to give up access to the Bitcoin, move countries, and have a nice life in the future. 

A complete Non story.  Anyone doing this legitimate, or illegitimate, who doesn't practice "Not my keys, not my coins" personal protocol, deserves to have all their Crypto taken away.    

[longgone]

3 hours ago, markyh said:

The CPS Proceeds of Crime Division used its civil powers to obtain a Property Freezing Order from the High Court against Wen whilst it undertakes a non-conviction-based civil recovery investigation.  That investigation could result in the forfeiture of the seized Bitcoin regardless of whether Wen or the other suspect are convicted.

the Metropolitan Police and CPS have successfully secured a money laundering  conviction against Jian Wen, an individual employed to launder criminal proceeds. The CPS will now work to ensure, through criminal confiscation and civil proceedings, that the criminal assets remain beyond the fraudsters’ reach.

 

Those pictures above look like Cash to me.  They don't have shit regarding the Bitcoin.  If the Bitcoin isn't on a exchange wallet with a regulation agreement with the UK Gov, they cant to ****** all without Wen giving them the private keys or passwords. 

She just needs to lawyer up, take the fines , do a few years maybe, refuse to give up access to the Bitcoin, move countries, and have a nice life in the future. 

A complete Non story.  Anyone doing this legitimate, or illegitimate, who doesn't practice "Not my keys, not my coins" personal protocol, deserves to have all their Crypto taken away.    

Lol 

No keys no daylight again for her or anyone like her 30 plus year sentence.  Not much use when you actually want to convert it to somthing with no paper trail.

Lets not forget how she got caught. 

 

 

[markyh]

5 hours ago, longgone said:

Lol 

No keys no daylight again for her or anyone like her 30 plus year sentence.  Not much use when you actually want to convert it to somthing with no paper trail.

Lets not forget how she got caught. 

 

 

White coller crime sentence's are never that long in the UK, maximum money laundering sentence is 14 years, maybe get 5 years, out in 2 1/2 years on good behaviour. 

[longgone]

1 hour ago, markyh said:

White coller crime sentence's are never that long in the UK, maximum money laundering sentence is 14 years, maybe get 5 years, out in 2 1/2 years on good behaviour. 

You don't steal that kind of money with no come back.

I would think she has more to worry about than being locked up for a few years, 2 billion is not chump change. 

I'm struggling to workout  why that kind of money does not raise a flag in crypto world, like it would in fiat land, other than when actually trying to spend it.