The Bubbly Bitcoin Thread -- Merged Threads

[MonsieurCopperCrutch]

5 hours ago, 70PC said:

Following up on this.  Cash in a wallet can be taken by muggers or by breaking into your house. The technical details are not my area but if Bitcoins can be stolen from wallets by someone using a computer, Bitcoins are not "so secure".

The original question was about the network security. If you personally do not secure your wallet then that is on you not the network. Cope harder. 

[70PC]

6 hours ago, Lagarde's Drift said:

Bitcoin doesn't exist in Ur wallet. It exists in a public ledger that anyone can see and read. Ur wallet is actually a key to access Ur part of the ledger and make a transaction. What is stolen is not the bitcoin from the wallet if u like, it's actually the key.

Fair comment but inferences to security were the issue. Pass words that can be hacked might not be a weakness in the block chain but it is a weakness. People also lose passwords and I read about someone who wanted to retrieve an old computer buried in a rubbish dump. 

As before this is not having a go bitcoin. It is about not overclaiming on matters like security, particularly when it can be done remotely. Money under the mattress reduces the pool of crooks to people within driving distance of your home and you don't need a password.

[70PC]

5 hours ago, MonsieurCopperCrutch said:

The original question was about the network security. If you personally do not secure your wallet then that is on you not the network. Cope harder. 

Security means keeping what you own. It is not just about Bitcoin but that does have an added complication if passwords etc are lost. If you lose login details for online banking, you have not lost your money.

New ways to steal are constantly being found, and particularly by phone, computer etc. Scam buster videos on the internet have done a good public service but new ways to steal are constantly being found.  

[MonsieurCopperCrutch]

40 minutes ago, 70PC said:

Security means keeping what you own. It is not just about Bitcoin but that does have an added complication if passwords etc are lost. If you lose login details for online banking, you have not lost your money.

New ways to steal are constantly being found, and particularly by phone, computer etc. Scam buster videos on the internet have done a good public service but new ways to steal are constantly being found.  

Which still doesn't relate to the original question on network security. Quit reaching. 

[70PC]

25 minutes ago, MonsieurCopperCrutch said:

Which still doesn't relate to the original question on network security. Quit reaching. 

This thread started in 2013 and has 1268 pages. My comments related to Bitcoin security and does not need to be in a new thread. Grow up. 

[Lagarde's Drift]

On 07/07/2023 at 09:29, 70PC said:

This thread started in 2013 and has 1268 pages. My comments related to Bitcoin security and does not need to be in a new thread. Grow up. 

Bitcoin isnt for everyone just like owning gold, shares in Tesla or owning house. It's fine if you don't understand it, at some point you'll probably own it through a proxy like your pension or the govt.

[70PC]

1 hour ago, Lagarde's Drift said:

Bitcoin isnt for everyone just like owning gold, shares in Tesla or owning house. It's fine if you don't understand it, at some point you'll probably own it through a proxy like your pension or the govt.

Agreed. Bitcoin has achieved market lead and I will certainly use it where the need arises. All things of value have vulnerabilities. The discussion was about security. Money stolen from a bank account gets refunded by the bank (which happened to us). When bitcoin wallets are hacked, the money is gone. The same goes for lost passwords or login details. Both can be solved. Attempts to paper over weaknesses hinders progress.  

[Lagarde's Drift]

1 hour ago, 70PC said:

Agreed. Bitcoin has achieved market lead and I will certainly use it where the need arises. All things of value have vulnerabilities. The discussion was about security. Money stolen from a bank account gets refunded by the bank (which happened to us). When bitcoin wallets are hacked, the money is gone. The same goes for lost passwords or login details. Both can be solved. Attempts to paper over weaknesses hinders progress.  

Wen refunddddd. Lol. There are no refunds. Being Ur own bank gives freedom but comes with responsibilities. Hence not for everyone. There'll be custodial solutions for high net worth and maybe even for plebs but that involves trust to a degree.

Edited July 9, 2023 by Lagarde's Drift

[BufferBear Bitcoin Bull]

On 06/07/2023 at 18:45, MonsieurCopperCrutch said:

Hey @Buffer Bear great minds think alike. 

Yes I certainly heard the rumours that Bitcoin is just for criminals as it's oft repeated on here. But maybe that's why the bankster cartels now want a slice. One thing is for sure I'd rather be holding Bitcoin that filthy fiat or overhyped gold right now. Only nine more months until the next halvening. It's going to be a wild epoch so I hope that you are buckled up. 🧡🧡🧡🧡

@MonsieurCopperCrutch  Hodled all the way through whilst stacking and well buckled up. 🧡

 

 

[jiltedjen]

Test

[crypto2001]

2 hours ago, jiltedjen said:

Test

Hey man, nice to see you back in this thread.

Does Test = time to buy?

[jiltedjen]

9 hours ago, crypto2001 said:

Hey man, nice to see you back in this thread.

Does Test = time to buy?

just had some 403 errors. time to buy was when I last posted, the lows. will be higher than now around April 2025, however it’s probably fairly unlikely now that we will surpass the previous peak, that was a pretty special (one off) set of circumstances.

not the same situation in 2025, no more free stimulus cheques, and lockdowns, and people working from home, interest rates up disproportionately effecting the younger generations (who are most likely to buy bitcoin) I have kept a DCA up, but won’t be greedy or deluded with my sell limits, going to be a lot of resistance around previous highs, where people just try to exit whole. 

also it does seem there is a much stronger will to crack down on bitcoin than ever before. 

by all means buy, just don’t expect massive returns from here, not like the olden days.

and god help those who entered the market at the last peak, will have a heck of a job to bring their average positioning down. Bad timing. 

the kinds of people who got dragged in near the last peak just won’t have the same ammo near the next peak, and it’s the same set of people come the next peak, nothing drastically has changed. there is no additional huge flood of first time Bitcoiners, it’s the same pool. And of course there will be those who have a bad taste from last time, it’s going to 100k laser eyes type people, who genuinely have been burnt badly, I even know a few people who in real life sold perfectly at the lows, like the perfectly worst time to sell.

times have moved on a bit. there are no early investors anymore, not even those who bought just before the last bubble. just late comers now. 
 

imagine the head-winds facing the required mania, it requires lots of people to have some ‘gambling money’ and these days, even if people do start to make some good returns like 50% returns, we are no longer in a world where it’s appropriate to brag about it anymore, and that bragging is a critical requirement in building up a bubble, these days you would be called out really quickly ‘just trying to pay my mortgage mate, and feed the kids, don’t really need to hear about your gains, I couldn’t take part even if I wanted to’

back when I first got involved in bitcoin it was due to the huge injustices the young were expected to endure, so it was a way of creating your own reality (and it worked!) 

but now if you think about it, gen z are not facing the same situation as millenials are in quite the same way, they are not looking into the future right now and seeing HPI forever, they are looking at cheaper houses and a chance to buy. 

they don’t need to create their own reality anymore, as reality is looking much brighter for them.

Bitcoin no longer is the only possible hope of surviving this world for gen Z. You don’t need a lottery win if you think prices will fall. 

Back in 2011-2013 houses stopped gradually falling. Hope was being lost, and millenials were looking to actually tear the system down. 

now bitcoin doesn’t have the same allure. Especially now big banks have a stake. so it’s lost another key driver. 
 

and if those wishful early Bitcoiners no longer have their zeal anymore, your just left with flighty speculators. The early investors like myself got their fill. We have been placated, we got our lottery win. we were proven right. and that core of early investors are needed to keep the movement moving forward. 

I think the game over point was the laser eyes £100k people. those people who did endure before the feckless masses jumped in, they got their moon. It happened. 

Edited July 12, 2023 by jiltedjen

[Old Man George]

25 minutes ago, jiltedjen said:

just had some 403 errors.

Looking into this and noted them in your other post today too.

[skrillex]

6 hours ago, jiltedjen said:

just had some 403 errors. time to buy was when I last posted, the lows. will be higher than now around April 2025, however it’s probably fairly unlikely now that we will surpass the previous peak, that was a pretty special (one off) set of circumstances.

not the same situation in 2025, no more free stimulus cheques, and lockdowns, and people working from home, interest rates up disproportionately effecting the younger generations (who are most likely to buy bitcoin) I have kept a DCA up, but won’t be greedy or deluded with my sell limits, going to be a lot of resistance around previous highs, where people just try to exit whole. 

also it does seem there is a much stronger will to crack down on bitcoin than ever before. 

by all means buy, just don’t expect massive returns from here, not like the olden days.

and god help those who entered the market at the last peak, will have a heck of a job to bring their average positioning down. Bad timing. 

the kinds of people who got dragged in near the last peak just won’t have the same ammo near the next peak, and it’s the same set of people come the next peak, nothing drastically has changed. there is no additional huge flood of first time Bitcoiners, it’s the same pool. And of course there will be those who have a bad taste from last time, it’s going to 100k laser eyes type people, who genuinely have been burnt badly, I even know a few people who in real life sold perfectly at the lows, like the perfectly worst time to sell.

times have moved on a bit. there are no early investors anymore, not even those who bought just before the last bubble. just late comers now. 
 

imagine the head-winds facing the required mania, it requires lots of people to have some ‘gambling money’ and these days, even if people do start to make some good returns like 50% returns, we are no longer in a world where it’s appropriate to brag about it anymore, and that bragging is a critical requirement in building up a bubble, these days you would be called out really quickly ‘just trying to pay my mortgage mate, and feed the kids, don’t really need to hear about your gains, I couldn’t take part even if I wanted to’

back when I first got involved in bitcoin it was due to the huge injustices the young were expected to endure, so it was a way of creating your own reality (and it worked!) 

but now if you think about it, gen z are not facing the same situation as millenials are in quite the same way, they are not looking into the future right now and seeing HPI forever, they are looking at cheaper houses and a chance to buy. 

they don’t need to create their own reality anymore, as reality is looking much brighter for them.

Bitcoin no longer is the only possible hope of surviving this world for gen Z. You don’t need a lottery win if you think prices will fall. 

Back in 2011-2013 houses stopped gradually falling. Hope was being lost, and millenials were looking to actually tear the system down. 

now bitcoin doesn’t have the same allure. Especially now big banks have a stake. so it’s lost another key driver. 
 

and if those wishful early Bitcoiners no longer have their zeal anymore, your just left with flighty speculators. The early investors like myself got their fill. We have been placated, we got our lottery win. we were proven right. and that core of early investors are needed to keep the movement moving forward. 

I think the game over point was the laser eyes £100k people. those people who did endure before the feckless masses jumped in, they got their moon. It happened. 

https://99bitcoins.com/bitcoin-obituaries/

[crypto2001]

19 hours ago, jiltedjen said:

just had some 403 errors. time to buy was when I last posted, the lows. will be higher than now around April 2025, however it’s probably fairly unlikely now that we will surpass the previous peak, that was a pretty special (one off) set of circumstances.

not the same situation in 2025, no more free stimulus cheques, and lockdowns, and people working from home, interest rates up disproportionately effecting the younger generations (who are most likely to buy bitcoin) I have kept a DCA up, but won’t be greedy or deluded with my sell limits, going to be a lot of resistance around previous highs, where people just try to exit whole. 

also it does seem there is a much stronger will to crack down on bitcoin than ever before. 

by all means buy, just don’t expect massive returns from here, not like the olden days.

and god help those who entered the market at the last peak, will have a heck of a job to bring their average positioning down. Bad timing. 

the kinds of people who got dragged in near the last peak just won’t have the same ammo near the next peak, and it’s the same set of people come the next peak, nothing drastically has changed. there is no additional huge flood of first time Bitcoiners, it’s the same pool. And of course there will be those who have a bad taste from last time, it’s going to 100k laser eyes type people, who genuinely have been burnt badly, I even know a few people who in real life sold perfectly at the lows, like the perfectly worst time to sell.

times have moved on a bit. there are no early investors anymore, not even those who bought just before the last bubble. just late comers now. 
 

imagine the head-winds facing the required mania, it requires lots of people to have some ‘gambling money’ and these days, even if people do start to make some good returns like 50% returns, we are no longer in a world where it’s appropriate to brag about it anymore, and that bragging is a critical requirement in building up a bubble, these days you would be called out really quickly ‘just trying to pay my mortgage mate, and feed the kids, don’t really need to hear about your gains, I couldn’t take part even if I wanted to’

back when I first got involved in bitcoin it was due to the huge injustices the young were expected to endure, so it was a way of creating your own reality (and it worked!) 

but now if you think about it, gen z are not facing the same situation as millenials are in quite the same way, they are not looking into the future right now and seeing HPI forever, they are looking at cheaper houses and a chance to buy. 

they don’t need to create their own reality anymore, as reality is looking much brighter for them.

Bitcoin no longer is the only possible hope of surviving this world for gen Z. You don’t need a lottery win if you think prices will fall. 

Back in 2011-2013 houses stopped gradually falling. Hope was being lost, and millenials were looking to actually tear the system down. 

now bitcoin doesn’t have the same allure. Especially now big banks have a stake. so it’s lost another key driver. 
 

and if those wishful early Bitcoiners no longer have their zeal anymore, your just left with flighty speculators. The early investors like myself got their fill. We have been placated, we got our lottery win. we were proven right. and that core of early investors are needed to keep the movement moving forward. 

I think the game over point was the laser eyes £100k people. those people who did endure before the feckless masses jumped in, they got their moon. It happened. 

Thanks ser, makes sense. I'll just stick to shitcoining then. BTC, etc i agree won't provide the lucrative ROI it once did.

[scottbeard]

Just now, crypto2001 said:

Thanks ser, makes sense. I'll just stick to shitcoining then. BTC, etc i agree won't provide the lucrative ROI it once did.

But his point is that BTC won't get monster returns because there is no QE and furlough any more.

So why do you think other coins would?!

[nero120]

https://cointelegraph.com/news/celsius-ceo-alex-mashinsky-arrested

Strange that they don't mention that every cryptobro's favourite Peter Schiff called this ponzi scheme back in 2021:

Another one bites the dust! Binance and Coinbase next...?

[MonsieurCopperCrutch]

IT'S THE HAPPENING!!!

 

 

[MonsieurCopperCrutch]

On 7/7/2023 at 9:29 AM, 70PC said:

This thread started in 2013 and has 1268 pages. My comments related to Bitcoin security and does not need to be in a new thread. Grow up. 

No you replied to someone's question re bitcoin network security with some nonsense about a wallet being hacked. THEY. ARE. NOT. THE. SAME.

[MonsieurCopperCrutch]

On 7/12/2023 at 1:49 AM, Buffer Bear said:

@MonsieurCopperCrutch  Hodled all the way through whilst stacking and well buckled up. 🧡

 

 

Like a trooper. 💪💪💪💪

[MonsieurCopperCrutch]

12 hours ago, crypto2001 said:

Thanks ser, makes sense. I'll just stick to shitcoining then. BTC, etc i agree won't provide the lucrative ROI it once did.

JJ needs to talk the market down with nonsense in the hope to buy back in and fill his bags. 

[jiltedjen]

5 hours ago, MonsieurCopperCrutch said:

JJ needs to talk the market down with nonsense in the hope to buy back in and fill his bags. 

Sold near the highs, bought the lows (as stated on here at the time, called the low bang on). I’m fine, mortgage done, I just feel like we may of reached the point of lower highs already.

we had perfect conditions last time, and terrible conditions this time round. How that translates to price we will have to see. 

It could be a range 20% higher than the last peak, same as last peak or lower. Either way not ‘laser eyes to 100k’ 

If it was a continuous exponential cycle, then we would of hit 100k last time, and looking at some huge figures next time, but we didn’t, it’s gone from 100 bagger, to 50 bagger, to 20 bagger, 10, 5, 2.5 etc

Logically that makes sense, it’s finding it’s value, eventually it reaches it.

as I said before best to set sensible sell limits which plenty on here do. don’t be greedy. and keep in mind that genuinely times have changes, people are a lot worse off, recession hitting, money tight, and the last bubble was soo large it already drew in most of the people it could of drawn in.

the market will run out of steam earlier than people expect, hence why DCA out with set limits makes sense, and most of those limits should be set before the last peak. 

equally think of this mechanic.

1. Price rises

2. people think ‘great I can finally break even or make profit’

3. gains slow

4. panic sets in, not wanting to be left holding the back for the next 4 years again.

5. Sudden collapse back to the new low (higher low than the last low)

we also have lost the bragging mechanic in the general populace. last time it was fine time discuss it in real life, now days you would get your tyres slashed. 
 

anyone care to make a call on the next peak in dollars? where they will set their sell limits at? 

Edited July 14, 2023 by jiltedjen

[wighty]

1 hour ago, jiltedjen said:

Sold near the highs, bought the lows (as stated on here at the time, called the low bang on). I’m fine, mortgage done, I just feel like we may of reached the point of lower highs already.

we had perfect conditions last time, and terrible conditions this time round. How that translates to price we will have to see. 

It could be a range 20% higher than the last peak, same as last peak or lower. Either way not ‘laser eyes to 100k’ 

If it was a continuous exponential cycle, then we would of hit 100k last time, and looking at some huge figures next time, but we didn’t, it’s gone from 100 bagger, to 50 bagger, to 20 bagger, 10, 5, 2.5 etc

Logically that makes sense, it’s finding it’s value, eventually it reaches it.

as I said before best to set sensible sell limits which plenty on here do. don’t be greedy. and keep in mind that genuinely times have changes, people are a lot worse off, recession hitting, money tight, and the last bubble was soo large it already drew in most of the people it could of drawn in.

the market will run out of steam earlier than people expect, hence why DCA out with set limits makes sense, and most of those limits should be set before the last peak. 

equally think of this mechanic.

1. Price rises

2. people think ‘great I can finally break even or make profit’

3. gains slow

4. panic sets in, not wanting to be left holding the back for the next 4 years again.

5. Sudden collapse back to the new low (higher low than the last low)

we also have lost the bragging mechanic in the general populace. last time it was fine time discuss it in real life, now days you would get your tyres slashed. 
 

anyone care to make a call on the next peak in dollars? where they will set their sell limits at? 

When it hits previous high then there will be a correction as those that bought around that high will be glad to get their money back. 

However, wtfdik 

[scottbeard]

2 hours ago, jiltedjen said:

Sold near the highs, bought the lows (as stated on here at the time, called the low bang on). I’m fine, mortgage done, I just feel like we may of reached the point of lower highs already.

we had perfect conditions last time, and terrible conditions this time round. How that translates to price we will have to see. 

You did - well done on that

2 hours ago, jiltedjen said:

anyone care to make a call on the next peak in dollars? where they will set their sell limits at? 

I don't know what the next peak will be, but I'd probably sell a bit at 50k and most at 90k.  Just keep a bit as a real lottery ticket.  

At that point I'd have made about £50,000 from doing nothing more than clicking a few buttons, and would happily call that a win.

To me BTC is always just a horse to back and not the future of money.

[jiltedjen]

4 hours ago, scottbeard said:

You did - well done on that

I don't know what the next peak will be, but I'd probably sell a bit at 50k and most at 90k.  Just keep a bit as a real lottery ticket.  

At that point I'd have made about £50,000 from doing nothing more than clicking a few buttons, and would happily call that a win.

To me BTC is always just a horse to back and not the future of money.

It’s nice to have a potential lottery ticket on your pocket. even if it’s just a ‘chance’ of having a better life, it’s worth something in ‘hope’ rather than just having the future of wage slavery, mortgage paying, and then a short retirement of bad knees/back/hip a comfy chair and no status. 

a it’s a bit like buying a lottery ticket each week. Might never happen, but it’s better than having no plan (mentally rather than financially that is!)

So there’s the mental side of owning bitcoin but also everyone should own some bitcoin for grander reasons. Bitcoin helps keeps a lid on mass money printing. it’s a relief valve of value. It’s a bit like guns in America prevents its government from being too unreasonable with its citizens. 

the real glory days are behind bitcoin. the days of pulling a 16,000% profit like I did, are long gone apart from a few long time holders in here. Late comers may make a an OK return, but it’s a risk-return type situation, if a 20-50% return worth bearing the risk of 0% return over that period? and bitcoin is risky.

alt coins, at this point are at best just a gamble, they are also like risk upon risk, they are just a relief valve of mania, and 99% are pump and dumps, who only make a few people rich (usually the people who set them up).

Question is:

will bitcoin survive longer term once it reaches a more stable price plateau? can bitcoin survive when it no longer promises 16,000% returns? how much of its core value is based upon ‘this could go to the moon’