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The Bubbly Bitcoin Thread -- Merged Threads

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1 hour ago, dugsbody said:

Nope, way to miss the point.

Part of the value of a form of money is wide accceptance/large network of participants. If neo slightly improves on some aspects but not by enough for a vast majority to switch then bitcoin remains the de facto crypto. I have personally not looked into neo to be honest

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23 hours ago, dannyf said:

Part of the value of a form of money is wide accceptance/large network of participants. 

Network effect is 90% of the game, this is what everyone who backed things other than bitcoin got wrong and will continue to get wrong because they mistakenly think its a technological race (the classic "myspace" fallacy) rather than an economic establishment of a currency.

After 10 years of not skipping a beat bitcoins network effect and mindshare are unassailable, technically it has Byzantine Fault Tolerance with quantifiable cost of attack, that is the only technical thing than counts.

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Don’t need a new digital fiat. we already have that in several forms. 

bitcoin wont work as a currency. but it does work as gold 2.0

and unlike the non-existent need for a new digital fiat there is a humongous need for digital gold 2.0, the ultimate value store.

and as the sole value store it can be the only value store into the crypto world. 

There is no need for alt-coins, they have weak communities, They don’t fill a role. but thankfully this is slowly becoming more obvious across the market. why put value into something incredibly risky in the hope of big gains when there is a less risky bitcoin which is much more likely to actually bear fruit. 

there probably will always been a consolidated firm second place (like silver is to gold) maybe 1/10 the value of bitcoin, and I suppose that battle is still ongoing. Problem with the silver to gold comparison is that silver:

- does well when the economy is booming due to industrial uses

- falls in poor economic times, up to the point gold rockets then it switches to a temporarily catching partly up in value

alt coins won’t have any similar use in the times between bubbles, hence they spend most of their time with little or no value, only waking up in very short brief periods, and then it’s a gamble which gains the most, and which suddenly take the money and run. 

unless you enjoy burning money, heart attacks or a pure gamble alts are pointless. 

the trend is that the alt market is having any value it once had spread very thinly over thousands of coins. they are fading away. 

I think we have seen the last alt surge, in the last bubble most people had heard of bitcoin at that point, suddenly realised they were stupid for never listening when tipped off about bitcoin, and panicked and bought alts, just basically hoping ‘for the next bitcoin’ (convincing themselves of the MySpace fallacy)

these same now badly burnt people having seen the bubble burst (bloodbath in alts) will of seen the huge gains come and go, see that bitcoin retained the most value, and are starting to finally get a position in bitcoin. 

plenty of then no-coiners or even alt pumpers now have a position in BTC, even this thread shows that. 

Edited by jiltedjen

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6 hours ago, doomed said:

 

PMSL. I hope they do, hashpower will relocate and what can’t the network difficulty will just adjust down after 2 weeks to compensate. Move along nothing to see here. 

If this fails to cause a correction it shows the idiot bear investors of 2017/18 have already panicked and left the market last year. 

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Funny how quiet it is on here. Trolls obviously waiting nervously for the next 20% pullback. On another note Craig Wright is a knob an may cost me my Bitcoin SV holdings, I moved my BCash to binance before the split last November and left it there and now they have delisted it. Not sure yet if that means frozen just can’t trade it but can move it or it’s gone! Grrrrrrr.

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2 hours ago, markyh said:

Funny how quiet it is on here. Trolls obviously waiting nervously for the next 20% pullback. On another note Craig Wright is a knob an may cost me my Bitcoin SV holdings, I moved my BCash to binance before the split last November and left it there and now they have delisted it. Not sure yet if that means frozen just can’t trade it but can move it or it’s gone! Grrrrrrr.

Lesson to learn, hold bitcoin not trash coins ;)

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5 hours ago, markyh said:

Funny how quiet it is on here. Trolls obviously waiting nervously for the next 20% pullback. On another note Craig Wright is a knob an may cost me my Bitcoin SV holdings, I moved my BCash to binance before the split last November and left it there and now they have delisted it. Not sure yet if that means frozen just can’t trade it but can move it or it’s gone! Grrrrrrr.

My btrash sv is on CB. But I can't sell it on there. Not sure anywhere is taking deposits so I can dump it either. Kraken is also delisting it so not there either. Maybe cryptopia will take it hmmm.

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9 hours ago, dannyf said:

Lesson to learn, hold bitcoin not trash coins ;)

Never bought any these are just my “Dividends” from the 2017 and 2018 forks. I moved bcash from my Ledger nano s to binance in 2018 so they could sort the fork and give me both, and kind of forgot about it. I keep tabs on the crypto news so wouldn’t mind if they gave a date for delisting like from 1st May. But as far as I can see it was rumoured then threatened then just done. No real time to move BCHSV. My Bcash is still there.!

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7 hours ago, GreenDevil said:

My btrash sv is on CB. But I can't sell it on there. Not sure anywhere is taking deposits so I can dump it either. Kraken is also delisting it so not there either. Maybe cryptopia will take it hmmm.

In not interested in selling it, just would have liked time to move it. Even months after the split ledger had no BCHSV support on the nano s. 

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20 hours ago, lombardo said:

What is a suitable bet for Bitcoin maximalists vs non-maximalists?

I am a MySpace maximalist.

Yawn. Myspace = Bitcoin SV. 😉

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hmmm. Will we get another retest of $3k? Bitcoin getting interesting on all timeframes, even the monthly, and a golden Cross on the daily, and nice slow steady pickup since the $3k low, only +80% over the last 19 weeks!

Still feels Bulltrappy but as I was in at $400, $3500 and $6000, more worried I cant get another $1k invested in under $4k now, but a nice problem to have. 

My Crypto up by £10k as of today from the late 2018 lows.

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3 hours ago, lombardo said:

Yawn means no good arguments?

 

Heard it before. You are trying to compare the rise and fall of a profit making social media business with a new asset class. You can’t compare. Find and asset class that was number 1 and was taken over. Plus MySpace was number 1 for only 3 years, 2006 to 2009. From 2003 to 2006 Google was bigger and Facebook overtook it in 2009. 

Bitcoin was 1st from Launch, was and always has been number 1 for 10 years and still after a decade still commands 50%+ of all the money in the cryptocurrency asset class space despite 2000+ competitors. 

Are there 1999 other social media sites competing for Facebooks user base? 

This is why I Yawn. 

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LOL The article is about ETH a worthless alt coin. 

Bitcoin is still gold 2.0 which has not suffered from such massive mistakes in coding. 

 

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8 hours ago, jiltedjen said:

LOL The article is about ETH a worthless alt coin. 

Bitcoin is still gold 2.0 which has not suffered from such massive mistakes in coding. 

 

Bitcoin is a proof of work coin. It's inherently unsafe as a result. Please do be aware of that. 

Also transaction fees,  Chinese miners in control and low speed. The great news is it has the brand name and first mover status. Just got to work out the best time to sell up the rest of my Bitcoin and move it all into xrp before the wheels come off! 

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