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The Bubbly Bitcoin Thread -- Merged Threads


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17 minutes ago, markyh said:

Cool. Meet you In Springtime for a Tesla Model S P100D race around the M25 in Ludicrous mode, we can pay for all the fines and avoid jail by offering to Pay the UK Brexit divorce bill with a few spare milibit.

Good luck charging it- by that point bitcoin mining will be using more power than the total output of the sun, apparently.

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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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10 hours ago, Eddie_George said:

It's naive and hysterical.

The Middle Ages weren't devoid of innovation because of a gold-backed currency

Ironically, gold standards lead to near-unparalleled human invention and creativity. A true golden age.

Edited by Errol
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37 minutes ago, tomandlu said:

I'm sorry, I cannot find a way out of my conviction that this is one of the most delusional bubbles in human history. Strip away the zealotry, and you're all hoarding an asset whose entire value lies in it being used.

Agree. Whilst blockchain has a lot of potential, it currently remains a solution looking for a problem and all this blind cheerleading around cryptos is causing people to lose all sense of perspective..

https://seekingalpha.com/article/4130195-just-bitcoin-bubble-far-worse

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21 minutes ago, GeordieAndy said:

£12,000 by the end of the day? :wacko:

Passed $15000 now. My Facebook friends are gonna think I faking news soon as I am twice daily adding "Bitcoin passes $xx,0000" posts, and saying buy some before it's to late.

 

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Another day , another thousands of dollars!  Updated my spreadsheet @ 6.30am this morning. £72400, a rise of £7100 last 24 hrs, including a big drop off in Alts and my IOTA back to purchase price.

I worked out that going back to August when I started a spreadsheet to track daily totals , 104 days ago, on average the FIAT value of my Digital assets with no more FIAT added at all, has risen on average £700 per day.

If this carries on I will be retiring @ 50, and I am 49 soon!

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1 minute ago, markyh said:

Another day , another thousands of dollars!  Updated my spreadsheet @ 6.30am this morning. £72400, a rise of £7100 last 24 hrs, including a big drop off in Alts and my IOTA back to purchase price.

I worked out that going back to August when I started a spreadsheet to track daily totals , 104 days ago, on average the FIAT value of my Digital assets with no more FIAT added at all, has risen on average £700 per day.

If this carries on I will be retiring @ 50, and I am 49 soon!

Good luck. What percentage have you cashed out?

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9 minutes ago, tomandlu said:

Good luck. What percentage have you cashed out?

Do you not read my posts? None. I HODL, had the same stash as when I quit mining in 2014. First rule of Bitcoin, never sell. TBH anywhere from £500k to £1m a BTC and I will start selling because I will be a FIAT  multi millionaire, retired, mortgageless, and will want to really enjoy life.

This it's easy not to sell when you don't need the money. If I lost my job would cash in small amounts to pay the bills every month until I got another job, but that's it.

Edited by markyh
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5 minutes ago, markyh said:

Do you not read my posts? None. I HODL, had the same stash as when I quit mining in 2014. First rule of Bitcoin, never sell. TBH anywhere from £500k to £1m a BTC and I will start selling because I will be a FIAT  millionaire, retired, mortgageless, and will want to really enjoy life.

This it's easy not to sell when you don't need the money. If I lost my job would cash in small amounts to pay the bills every month until I got another job, but that's it.

Don't be 'Paddy last' it's not different this time.... it's a bubble.

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10 minutes ago, markyh said:

Do you not read my posts? None. I HODL, had the same stash as when I quit mining in 2014. First rule of Bitcoin, never sell. TBH anywhere from £500k to £1m a BTC and I will start selling because I will be a FIAT  multi millionaire, retired, mortgageless, and will want to really enjoy life.

 

I remember listening to an old lady talking to her friend about a flat in the country that she was thinking of selling, in Barcelona, 2006. "Never sell houses," The lady said. "Never, ever sell!"

If she listened to her friend's advice, she lost about 200k in Euro. The difference is that at least she still has a house now the market has crashed, bitcoins will be worth nothing

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6 minutes ago, headmelter said:

Don't be 'Paddy last' it's not different this time.... it's a bubble.

I am fully prepared mentally for the next 80% drop, the 4th, because after every 80% drop is followed by another x 50 to x 100 gain from the new lows over the following 2 years. It has happened 3 times before it will happen again. Then I sell.

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7 minutes ago, boynamedsue said:

I remember listening to an old lady talking to her friend about a flat in the country that she was thinking of selling, in Barcelona, 2006. "Never sell houses," The lady said. "Never, ever sell!"

If she listened to her friend's advice, she lost about 200k in Euro. The difference is that at least she still has a house now the market has crashed, bitcoins will be worth nothing

Tell me what % of Barcelona residents are without housing compared to the Total that live there?  And then what % of the world population Hold Bitcoin. Long, long way yo go yet.

Edited by markyh
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1 minute ago, markyh said:

Tell me what % of Barcelona residents are without housing compared to the Total that live their?  And then what % of the world population Hold Bitcoin. Long, long way yo go yet.

Not everyone wants to put their money into something that is too complicated, unregulated and with no money back guarantees of any kind. 

 

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12 minutes ago, markyh said:

I am fully prepared mentally for the next 80% drop, the 4th, because after every 80% drop is followed by another x 50 to x 100 gain from the new lows over the following 2 years. It has happened 3 times before it will happen again. Then I sell.

You sure you'll sell? 

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34 minutes ago, markyh said:

Do you not read my posts? None. I HODL, had the same stash as when I quit mining in 2014. First rule of Bitcoin, never sell. TBH anywhere from £500k to £1m a BTC and I will start selling because I will be a FIAT  millionaire, retired, mortgageless, and will want to really enjoy life.

This it's easy not to sell when you don't need the money. If I lost my job would cash in small amounts to pay the bills every month until I got another job, but that's it.

Well, I'm not stalking you... I've read all posts in this thread afaik - I find the subject fascinating, despite - and partly because of - my cynicism, but I don't necessarily keep good track of everyone's specific position (the only thing I remember off the top of my head is that Stanley Holloway is a convert, and Goldfinger isn't)

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4 minutes ago, Barnsey said:

You sure you'll sell? 

Then, Yes, slowly, any Fiat value over £2million I would cash out 50% pay off the mortgage, invest 1/2  million into income providing assets, slowly spend the rest, then cash out of the remaining 50% as and when I needed it, unless by then I could by my kids houses directly with BTC , cars directly wth BTC etc.

I like the "Swiss bank account" function of crypto that only I control it. Protects me from wives and governments trying to get their hands on it unless I want them too.

 

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