The Bubbly Bitcoin Thread -- Merged Threads

[markyh]

20 hours ago, MonsieurCopperCrutch said:

Wot HEX price doing?

Stock split once Pulsechain launched. There is now e-hex on ethereum and Hex (p-hex) on Pulsechain.  So pre Pulschain launch holders have both.  Like most Alts sold off a lot since 2021, Glad i sold $500k worth in 2021! 

[MonsieurCopperCrutch]

Remember when the clowns on here said that no one would use the Lightning Network. Yeah so do I… 

Santander introduces the Lightning Network to it's customers:

 

 

The Lightning Network: introduction to layer 2 solutions

 

 

 

https://www.santander.com/en/stories/lightning-network-blockchain

[cattius]

I thought I'd check in here to see what's being discussed since bitcoin is pumping and I'm shocked to see there's not been a single post since Saturday morning. I mean, come on, with blackrock filing for a spot ETF we've had the most positive news in a long time and no one on here seems to care? This thread used to be on the pulse with bitcoin news but after the constant stream of negativity it seems people have lost interest or they've disinvested. Considering the price is now 30k with very little enthusiasm from normies, I'm more convinced we're going to have another decent bull run once the hype builds.  

https://www.coindesk.com/business/2023/06/15/blackrocks-ishares-files-paperwork-for-spot-bitcoin-etf/

[markyh]

5 minutes ago, cattius said:

I thought I'd check in here to see what's being discussed since bitcoin is pumping and I'm shocked to see there's not been a single post since Saturday morning. I mean, come on, with blackrock filing for a spot ETF we've had the most positive news in a long time and no one on here seems to care? This thread used to be on the pulse with bitcoin news but after the constant stream of negativity it seems people have lost interest or they've disinvested. Considering the price is now 30k with very little enthusiasm from normies, I'm more convinced we're going to have another decent bull run once the hype builds.  

https://www.coindesk.com/business/2023/06/15/blackrocks-ishares-files-paperwork-for-spot-bitcoin-etf/

4 Year Cycle, we are in the 2015 , 2019 phase. Accumulation.  This all was expected by the hodlers , it's the BTC to zero who have gone back to hiding under a rock. 

[scottbeard]

2 hours ago, cattius said:

This thread used to be on the pulse with bitcoin news but after the constant stream of negativity it seems people have lost interest or they've disinvested.

Neither.

I have half an eye on it as I do with all investments, but since I'm neither going to be buying nor selling I haven't really got anything to say.

When there's a new all time high it will be interesting to discuss again.  I'm probably a seller at $90k.

[dugsbody]

This thread lights up when there are big prices moves, in either direction.

At the moment, my crypto holdings are not a winning lottery ticket, but they could be in the future. I've not bought or sold in years.

 

[Arpeggio]

IMF working on global central bank digital currency platform

The IMF wants central banks to agree on a common regulatory framework for digital currencies that will allow global interoperability. Failure to agree on a common platform would create a vacuum that would likely be filled by cryptocurrencies, she said.

A CBDC is a digital currency controlled by the central bank, while cryptocurrencies are nearly always decentralised.

 

 

[markyh]

7 hours ago, Arpeggio said:

IMF working on global central bank digital currency platform

The IMF wants central banks to agree on a common regulatory framework for digital currencies that will allow global interoperability. Failure to agree on a common platform would create a vacuum that would likely be filled by cryptocurrencies, she said.

A CBDC is a digital currency controlled by the central bank, while cryptocurrencies are nearly always decentralised.

 

 

Even if they global CBDC interoperability (which will never happen, China and Russia will never agree to let the USA "control" the use of their CBDC Globally) , Bitcoin will always be there as the new Digital Gold commodity, decentralised. outside the control of the global CBDC , that can never be inflated to infinity. So it will just keep appreciating vs global CBDC's forever. 

[Jonesy74]

12 hours ago, cattius said:

I thought I'd check in here to see what's being discussed since bitcoin is pumping and I'm shocked to see there's not been a single post since Saturday morning. I mean, come on, with blackrock filing for a spot ETF we've had the most positive news in a long time and no one on here seems to care? This thread used to be on the pulse with bitcoin news but after the constant stream of negativity it seems people have lost interest or they've disinvested. Considering the price is now 30k with very little enthusiasm from normies, I'm more convinced we're going to have another decent bull run once the hype builds.  

https://www.coindesk.com/business/2023/06/15/blackrocks-ishares-files-paperwork-for-spot-bitcoin-etf/

As someone said not long ago, everyone has already picked their side. Either believers, haters, or those that think it’s worth a punt. There’s nothing really left to say because nobody will change their minds and it’s the same things debated over and over.

On the ETF, it could be good news if it was fully backed by bitcoin with proof of reserves, but I doubt it will be (haven’t looked into it). Without that, it’ll just be used for more financial derivative games and ultimately reduce demand for actual bitcoin

[BufferBear Bitcoin Bull]

On 17/06/2023 at 09:27, Lagarde's Drift said:

if this doesn't make you buy nothing will. 😁

 

💯

 

And read Jeff's book while you're at it. 

 

The Price of Tomorrow. 

[BufferBear Bitcoin Bull]

On 18/04/2023 at 13:00, Peter Hun said:

All of Africa's banking is on mobile phones.

Probably little demand for an alternative 

You need to research developments in Africa including the launch of Fedi by Obi (British based).

On 18/05/2023 at 09:42, hotblack42 said:

Don't assume that MPs do not understand blockchain or the crypto market.  Their advisers do.  The military and GCHQ definitely do.

The appearance of incompetence is often, but not always, because of lobbying or legislation being against their personal interests or those of friends, family and associates.

💯 

I fail to understand why people think the US et al do not deeply understand the Bitcoin protocol given the strategic miliatary and financial advantage it presents.

On 06/06/2023 at 20:34, A.steve said:

After FTX, then Binance,  now CoinBase.  One could be forgiven for thinking there might be something a bit dodgy about cryptocurrencies and the firms that promote them.

Don't confuse exchanges with bitcoin.  Just make sure you are self sovereign.

On 08/06/2023 at 10:03, Bruce Banner said:

Sky News.... "FCA tightening crypto assets regulation".

Bitcoin is not crypto and cannot be banned or stopped, only frustrated.  The narrative on here needs to change.  There is so much happening in the bitcoin ecosystem and decentralised space. e.g., Nostr. Check out @Jb55 and @FiatJaf @Damus on twitter.

Why is no one is discussing ARK (Not Cathie W), competitor to the Lightning Network (@Burak), Fedi, BlackRock filing for a spot ETF fund along with Fidelity, Wisdom Tree, Invesco and Nostr?  

[BufferBear Bitcoin Bull]

 

 

 

 

 

[BufferBear Bitcoin Bull]

 

[BufferBear Bitcoin Bull]

 

[BufferBear Bitcoin Bull]

 

[BufferBear Bitcoin Bull]

 

[BufferBear Bitcoin Bull]

So many important things are happening in bitcoin.  It is super important for those of you who continue to ignore it or promote FUD.  Be gracious and do not feel embarrassed.  Learn about the protocol and what this discovery means for humanity and how you can protect your purchasing power and family.  I thought I was an early adopter but now realise with education that we are still in the innovator stage.  Adoption is thought to be way under 2%.  We are still very early.  

 

No one can have 100% certainty of what this revolutionary technology will do so even if you remain unconvinced, given the balance of probabilities, it is imperative that everybody, and I mean everybody: Get off Zero

[A.steve]

1 hour ago, Buffer Bear said:

Don't confuse exchanges with bitcoin.  Just make sure you are self sovereign.

I don't confuse exchanges with bitcoin.  The exchange is where fees are charged in connection with intangible arbitrary bit-patterns; BitCoin is an intangible arbitrary bit pattern.

As for 'self sovereign' - what does that even mean?  Is it about pretending you're a Jaguar, or becoming the next Queen of England?  You're not alluding to omnipotence - are you? Cryptocurrencies don't promise that.

[Lenelby]

9 minutes ago, A.steve said:

I don't confuse exchanges with bitcoin.  The exchange is where fees are charged in connection with intangible arbitrary bit-patterns; BitCoin is an intangible arbitrary bit pattern.

As for 'self sovereign' - what does that even mean?  Is it about pretending you're a Jaguar, or becoming the next Queen of England?  You're not alluding to omnipotence - are you? Cryptocurrencies don't promise that.

Imagine walking into a Bureau de Change or bank and exchanging pounds for dollars. Self custody is walking out the door with those dollars instead of letting the exchange or bank look after them until you either take them away at a later date or decide to change back to pounds again.

[A.steve]

1 minute ago, Lenelby said:

Imagine walking into a Bureau de Change or bank and exchanging pounds for dollars. Self custody is walking out the door with those dollars instead of letting the exchange or bank look after them until you either take them away at a later date or decide to change back to pounds again.

I've noticed that 'custody' and 'sovereign' are different words.

As an aside, do you really think it possible to "walk out of the door with dollars" in a literal sense?  For you, are the representations of dollar debt, or the debt itself, the dollar?  It is very difficult to actually work out where one's fiat currency physically is.  Unlike with a precious metal coin, the same is true for bitcoin.  I feel that every unit of every currency exists - but is intangible, so has not location in the universe... in fact, each pound might be thought of as existing equally at every point in a 3 dimensional universe. (Of course: 3 dimensional... because fiat is created and destroyed all the time... so it can't be distributed evenly in the fourth dimension.)  I could accept your argument if you were to say I'm being silly... it might be more sensible to say it exists as a concept in the soul of every human who's aware of currency... then we could argue about whether their souls are only in their brains - or not.

[erat_forte]

8 hours ago, A.steve said:

I've noticed that 'custody' and 'sovereign' are different words.

As an aside, do you really think it possible to "walk out of the door with dollars" in a literal sense?  For you, are the representations of dollar debt, or the debt itself, the dollar?  It is very difficult to actually work out where one's fiat currency physically is.  Unlike with a precious metal coin, the same is true for bitcoin.  I feel that every unit of every currency exists - but is intangible, so has not location in the universe... in fact, each pound might be thought of as existing equally at every point in a 3 dimensional universe. (Of course: 3 dimensional... because fiat is created and destroyed all the time... so it can't be distributed evenly in the fourth dimension.)  I could accept your argument if you were to say I'm being silly... it might be more sensible to say it exists as a concept in the soul of every human who's aware of currency... then we could argue about whether their souls are only in their brains - or not.

I assume Lenelby is referring to pieces of paper.

[Lagarde's Drift]

10 hours ago, A.steve said:

I've noticed that 'custody' and 'sovereign' are different words.

As an aside, do you really think it possible to "walk out of the door with dollars" in a literal sense?  For you, are the representations of dollar debt, or the debt itself, the dollar?  It is very difficult to actually work out where one's fiat currency physically is.  Unlike with a precious metal coin, the same is true for bitcoin.  I feel that every unit of every currency exists - but is intangible, so has not location in the universe... in fact, each pound might be thought of as existing equally at every point in a 3 dimensional universe. (Of course: 3 dimensional... because fiat is created and destroyed all the time... so it can't be distributed evenly in the fourth dimension.)  I could accept your argument if you were to say I'm being silly... it might be more sensible to say it exists as a concept in the soul of every human who's aware of currency... then we could argue about whether their souls are only in their brains - or not.

Ehhhh? Fiat and bitcoin exists on ledgers, ones private and centralised / distributed amongst banks, the other is decentralised and public. It's all a giant spreadsheet of one kind or another. It does t exist as a lump of rock or shiny shells lol.

[Lagarde's Drift]

p.s. bull market must be starting again cos buffer is spamming the thread with videos again.

[Lenelby]

18 hours ago, A.steve said:

I've noticed that 'custody' and 'sovereign' are different words.

As an aside, do you really think it possible to "walk out of the door with dollars" in a literal sense?  For you, are the representations of dollar debt, or the debt itself, the dollar?  It is very difficult to actually work out where one's fiat currency physically is.  Unlike with a precious metal coin, the same is true for bitcoin.  I feel that every unit of every currency exists - but is intangible, so has not location in the universe... in fact, each pound might be thought of as existing equally at every point in a 3 dimensional universe. (Of course: 3 dimensional... because fiat is created and destroyed all the time... so it can't be distributed evenly in the fourth dimension.)  I could accept your argument if you were to say I'm being silly... it might be more sensible to say it exists as a concept in the soul of every human who's aware of currency... then we could argue about whether their souls are only in their brains - or not.

Yes I was referring to bits of paper. If you hold money or Bitcoin in your own wallet you are responsible for it and you can transact with either without any third party needed. 
 

Bitcoin and fiat exist on ledgers but every single Bitcoin is accountable on the ledger from the moment it is created. Who knows exactly how many fiat dollars or pounds exist, paper or otherwise?
 

Therefore I would describe Bitcoin as more like a gold coin than fiat except even with gold we don’t know exactly how much exists and it’s more difficult to verify authenticity. Naturally gold has its advantages over Bitcoin; looks nice, industrial uses, history etc 

Essentially fiat, Bitcoin and gold are based on a belief system which says they have ‘value’ in exchange for goods or services whether they are tangible or not.

[A.steve]

11 hours ago, erat_forte said:

I assume Lenelby is referring to pieces of paper.

I assumed similar.

9 hours ago, Lagarde's Drift said:

Ehhhh? Fiat and bitcoin exists on ledgers, ones private and centralised / distributed amongst banks, the other is decentralised and public. It's all a giant spreadsheet of one kind or another. It does t exist as a lump of rock or shiny shells lol.

 Obviously, fiat doesn't exist as a lump of rock or shiny shells... with those, there are straightforward arguments that can be made about why they are valuable - that only consider basic concepts. With fiat and cryptocurrencies, one needs a more sophisticated narrative if one wants to demonstrate that they should, or do, have value.  While obviously provocative, asking where that value exists prompts some interesting questions - if you're prepared to explore them.

2 hours ago, Lenelby said:

Essentially fiat, Bitcoin and gold are based on a belief system which says they have ‘value’ in exchange for goods or services whether they are tangible or not.

Gold has some utility as a tangible commodity - which makes it distinct... but you've hit the nail on the head by mentioning 'belief system'.  The value exists only in the context of the belief system.  This is a far less robust foundation than many assume.  Arguing that the value is in the things that have been facilitated in the past - without asking if/why that was sensible - leaves one uncertain whether the same beliefs will remain valid tomorrow.  If one doesn't actually believe... doesn't one risk that others, tomorrow, might share your faithless stance?