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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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2 hours ago, Eddie_George said:

George Selgin has worked out the theory of competitive free banking in detail, and he argues that such a system would be stable, inflation resistant and self-regulating.

Also worth noting Selgin's IEA Hobart Paper:

Less Than Zero: The case for a falling price level in a growing economy

1 hour ago, zugzwang said:

Really? I'd love to see that model. Please elaborate.

Selgin, George A.; White, Lawrence H. (1994). "How Would the Invisible Hand Handle Money?". Journal of Economic Literature

Selgin - Theory of Free Banking http://oll.libertyfund.org/titles/selgin-the-theory-of-free-banking-money-supply-under-competitive-note-issue

Also worth looking at (I think these are online except the last two):

Larry Sechrest - Free Banking: Theory, History and A Laissez-faire Model

Jesús Huerta de Soto - Money, Bank Credit, and Economic Cycles

Rothbard - Mystery of Banking

Hayek - Denationalisation of Money

Horwitz, Steven (1992). Monetary Evolution, Free Banking, and Economic Order

Dowd and Hutchinson - Alchemists of Loss

 

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1 hour ago, Maximus Skepticus said:

Right -- so the antiquated slowness of the financial system is a positive feature...

Anyway, if the BoE did their job properly there'd never actually be a run on any bank.

And the important bit in that?  That the BoE was looking into creating its own digital currency.  That is where the future lies (or, at least, that is the future they'll force us to go in).

Edited by dgul
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Wow. Rush to the exit from the newbies the last 24 hrs. Biggest 24 hr move ever after the -13% drop before CBOE futures on Sat 9th. 

A whopping -£19800 drop, -19.5% , to £81400 , which takes me back to Monday 11th DEC the day after CBOE futures launched. 

Most importantly is we are now at the -30% level for BTC, from $20k to $14k. Will it hold here or are we heading for the 4th wave crash to $4000 BTC.  

Alts holding steady at 32% of the pot. Still HODL. I now expect floods of soothsayers to a[[ear and say they were right, the bubbles burst, or people who claim to know $20k was the top and the sold all their BTC and went into cash.

Ho hum.

 

Edited by markyh
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Just now, Inoperational Bumblebee said:

Buying opportunity!

Probably not, I hope it falls to $4000 personally that's when all this Bcash nonsense started.

Shame too, the market cap posted a $50 billion rise the very same morning all these Roger cultists crawled out of their holes and started pissing on the bonfire.

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8 minutes ago, godnose said:

Yes, as above. This is ultimately healthy. It needs it. Painful to watch. Very tempting to bag some fiat on the way down... But...

Anyway. Crypto shouldn't be about getting buying power in fiat. It's about getting buying power in crypto.

Anybody holding for years has detached themselves from the price of Bitcoin somewhat. It is not possible to survive the drops unless you have patience & vision for the future. People selling now have to sell, physically their mind is dictating it.

It is nature's way of telling them that they do not understand what they are involved in. 

When these people are out, the next wave of buyers will have more understanding... some of them will become part of the building process rather than becoming chart monkeys. 

I just hope the Bcash shilling comes to an end and Roger Ver crawls back into his hole. The most poisonous element I've seen in all the years holding Bitcoin.

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I’m still seeing XRP over 0.90, after a brief trip over $1 and higher overnight. So held up well.

i think we are seeing to some extent BTC getting drained into the other Cryptos.

 

Actually CEX was as 0.99 and so I just sold XRP, so all cash now. Strangely I woke at 4am and it was at an all time high, perhaps should have sold a few hours earlier, but no losses at least and still a tidy gain.

i’m going to hold out until later and see if I can increase my coins. 

BTW the pattern i’ve noticed is that Asian and US tend to drive prices up, an when in European time that’s when the falls happen.

 

Edited by Mikhail Liebenstein
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I have no idea what the future of crypto is, but I have to say, reading this thread, the adherents come across as an evangelical movement, which does not bode well imo. I'm not out to give anyone in particular a hard time, but, for example, adamLancs seems to want everyone who hasn't seen the light (the "idiots") to get the hell out of bitcoin - despite the necessity (if bitcoin is to succeed) of those very idiots signing up to it. Add to the mix the constantly shifting goalposts ("it's a currency", "it's a store of value") as a response to any criticism of its inherent problems, plus, when a problem is acknowledged, the promise of some great revelation that will solve it (albeit without a consensus), and the comparison to a religion is complete.

Crypto may turn out to be everything its proponents hope, but mania is still mania.

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2 minutes ago, tomandlu said:

 

Crypto may turn out to be everything its proponents hope, but mania is still mania.

Madness of Crowds

eTulips

etc

If you see it as such you can still profit.

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5 minutes ago, Mikhail Liebenstein said:

Madness of Crowds

eTulips

etc

If you see it as such you can still profit.

I'd liken it more to the .com frenzy. It imploded, but it also made the Internet we know today, and some companies made it through. Dunno whether you can say the same about tulips.

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That's a wrap from bitcoin. People don't like things that don't actually work. When the wave of smart money comes through it backs the crypto that has a purpose. I think we are seeing that now. 0.2% fee is mental and those transaction times beggar belief. It's so slow and expensive. Great first mover but now time for a purpose. 

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I think bitcoin touched 50% down. That's a significant Fibonacci point. And was much needed. Weak hands and stops decimated. I've seen this many, many times before in bitcoin and it always lead to new highs. Good thing.

What must be really galling to the sock puppets is that btrash also collapsed, and it's history has been a series failures to break new highs. 5 attempts so far, 5 failures. Not good.

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3 minutes ago, evetsm said:

I think bitcoin touched 50% down. That's a significant Fibonacci point. And was much needed. Weak hands and stops decimated. I've seen this many, many times before in bitcoin and it always lead to new highs. Good thing.

What must be really galling to the sock puppets is that btrash also collapsed, and it's history has been a series failures to break new highs. 5 attempts so far, 5 failures. Not good.

Coulda got btrash for 1200 on the spike, thats a -300% collapse.

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  • 440 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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