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The Bubbly Bitcoin Thread -- Merged Threads


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Shoot me down, but a few members seems a bit obsessed with this thread.  There are a lot of threads on HOUSEpricecrash and other things to do in general than aggressively defend Bitcoin (e.g. see fami

They could certainly put various things in place to try and stop but I just don't seem them doing it. Obviously they could make dealing, trading, holding or using bitcoin punishable with 10 years

Bitcoin Cash can and will scale on chain. The technology advance within the next decade will allow it to happen with ease and always remain ahead of demand. What Core have done to Bitcoin is criminal

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1 hour ago, NuBrit said:

The kid in the Youtube video's is everything that's wrong with Bitcoin right now. According to his history, he's only gotten into it in the last few months and claimed he's put nearly all his money into it. Every single statement is about how he "feels" that the price is going to go up 10x from here.

If his life savings are £5000 (bearing in mind he's only been out of uni 2 years) then why not? I invested more than that of my savings 3 years ago now on nothing more than a whim and some wishful thinking of getting rich quick. And to date I've done well and I'm laughing. I went from small deposit for a house to now being able to outright buy a 3 bed detached house where I live - and have change for a very nice car.

 

I'm sticking with it for now, I could live to regret it if it all goes wrong but if it carrys on as it is I'll be retired before I hit 40, or at least in a position to be should I chose to.

 

Should I diversify? Probably. Will that be the safer option? Yes. Will it make me rich? Probably not. So for now I'm happy risking it. If it all goes to shit prices can drop 90% before I am a loser out of bitcoin.

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Bitfinex trouble as the cause of the BTC rise?

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Bitfinex is still unable to send US customers their money in any reasonable fashion, and that’s one of the reasons why they are abandoning the US market.

Which means… in order for a US individual to get their money off of Bitfinex, in a reasonable time frame… they must buy Bitcoin with the dollars they have on the platform, now at highly inflated prices.

Be careful out there...

 

2 hours ago, scb said:

Should I diversify? Probably. Will that be the safer option? Yes. Will it make me rich? Probably not. So for now I'm happy risking it. If it all goes to shit prices can drop 90% before I am a loser out of bitcoin.

Diversification will definitely make you rich. Look at how wealthy people look after their money. It's not rocket science, it's basically just avoiding being catastrophically dumb and minimising fees. 

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13 hours ago, GreenDevil said:

One youngster with his head screwed on who can see though the ********. 

Pity there are not many of them.

Most are too busy buying up insanely priced two bed flats in Clapham.

When it hits 2 million he might cash out half. Not if, when. Yeah boys got his head screwed on.

Sounds remarkably like property investors a few years back tbh.

Guaranteed to go up!!

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Holy Cryptocurrency Batman! Bitcoin Value Leaps to New Record

Bitcoin, the world’s most popular cyptocurrency has broken the $4.25K ceiling Saturday, stabilizing at slightly more than $4K on Sunday, thanks to massive demand in Japan.

The digital currency hit its record value of $4,225.40 on Saturday, but then fell a bit, to stabilize at about $4,000 per bitcoin on Sunday, according to cryptocurrency news site CoinDesk.

https://sputniknews.com/business/201708141056435584-bitcoin-value-new-record/

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$1 in bitcoin seven years ago is valued at over $1.4 million today

The rise of bitcoin has been truly astounding when you consider that $1 worth of bitcoins seven years ago is worth over $1.4 million today. On May 22, 2010, the price of the digital currency stood at just 0.003 cents.

“Bitcoins have real value. They can't be counterfeited, and there is a limited supply. The fact they're perfect for moving value around the internet means they compete with other currencies. And as more people switch from banks and fiat money to bitcoin the price will rise, and crucially, banks will fail,” says Max Keiser of RT’s Keiser Report.

https://www.rt.com/business/399564-bitcoin-record-high-cryptocurrency/

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So here we have an implementation of LN, perhaps this little video will help those who are worried about high fees and scaling to see down the road a little. There will be quite a few distributors just like wallets. This is what takes Bitcoin in the VISA and Mastercard league. Do not underestimate how important this is going to be.

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I probably should have learned from the testy responses from a few days ago to leave this thread and to forget about bitcoin, but I cant help it, I have been reading about it all weekend. My god the history is like a dan brown novel...

The fact that Peter Schiff is against bitcoin but for gold seems odd. They seem both the same in principle.

Is it true that most of the mining of B is done by just a few entities now and much of it just in china? Seems like more than a problem technically and philosophically. My head is swimming a bit from it all, but I gather this centralisation is a result of the scaling problem people talk about? Are there any currencies that have solved this?

The chinese do love their gambling, I wonder if they are running up B now that they are having difficulties buying foreign property? They are clearly too scared to go back into their own stock market after 2015. I see B found a bottom in 2015 just as shanghi was peaking.

God there is going to be such a B crash. omg that chart is just absurd.

Some kids are going to get a good life experience from this like that kid in the video above... if he is for real that is and not just a youtube cnbc delivering suckers to adverts.

Sorry if all this has been talked about. Would loved to have been here at the start of this thread.

The world and world economy are in interesting times.

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On 11/08/2017 at 9:05 PM, doomed said:

Yes it is intrinsic value. Why would they take the risk of being able to pass it on and not just use fiat instead? 

What a lot of people fail to grasp is that bitcoin is a completely new technology that has not existed before. It is always going to be super volatile until it finds some sort of equilibrium price level. When this will be found is impossible to know, but I think there is still a way to go.

That argument holds no water. Many of us are technical, we may not be able to give a deep dive of bitcoin but we understand enough to make judgements and we're fully aware it is "new technology".

I am now invested in BTC, as I said I would about a month ago. I bought in because I came to the conclusion that there are enough people out there who think Bitcoin will have future value, to actually cause this to come to be. I myself still don't see value in bitcoin in particular, any more than any one of an infinite number of other cryptocurrencies. And I'm not planning on using it for anything (much like most people I suspect). But I'm speculating enough people think differently to me for a sufficient length of time. 

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7 minutes ago, dugsbody said:

That argument holds no water. Many of us are technical, we may not be able to give a deep dive of bitcoin but we understand enough to make judgements and we're fully aware it is "new technology".

I am now invested in BTC, as I said I would about a month ago. I bought in because I came to the conclusion that there are enough people out there who think Bitcoin will have future value, to actually cause this to come to be. I myself still don't see value in bitcoin in particular, any more than any one of an infinite number of other cryptocurrencies. And I'm not planning on using it for anything (much like most people I suspect). But I'm speculating enough people think differently to me for a sufficient length of time. 

Why does that argument hold no water?

You could create a thousand Facebooks and use that, but for some reason nobody has that has come close to competing.

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On 8/13/2017 at 1:13 PM, goldbug9999 said:

 

Interesting that young people are aware of whats going on in the banking system.

At least he is happy with living in wales if it all goes to Sh*t. seems to have a handle of what is going on though.  Surely crypto is only as valuable as the belief that it has value. that could change at any point. hats off to fighting against the corrupt banking system though. 

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It's come from $150 so it's 30x already, your chances of doubling up are getting smaller before the next crash.

Altcoins are a better opportunity but picking winners is not easy.

It's too late to jump into crypto as we're late bubble. The FOMO is too strong with this one.

Careful now. (all IMO of course)

Edited by adamLancs
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3 minutes ago, Noallegiance said:

Do any Cryptophiles honestly believe that something new and digital isn't going to end up in the hands of the same people that control the current digital system of finance?

They'll have been working on it since Crypto appeared.

An open system will always out compete a walled garden. They might be able to run their proprietary systems on top of a public blockchain, but unfortunately for them they will not be able to co-opt. 

Think internet vs intranet.

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