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The Bubbly Bitcoin Thread -- Merged Threads

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5 hours ago, dragging boot straps said:

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! 

Have you not f***ed off back to your xrp thread yet ? oh wait its dead, like the currency, so you come here to troll us instead

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5 hours ago, goldbug9999 said:

Have you not f***ed off back to your xrp thread yet ? oh wait its dead, like the currency, so you come here to troll us instead

 Who's trolling?  I'm long on Bitcoin and think that come September 2021 it will be $200k. That's provided the wheels don't come off in a regulation (environmental) or technical problem(proof of work inherent weakness,  Chinese miners,  too slow, expensive) sense. 

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12 hours ago, xiox said:

Here have $1b in crypto assets, you promise to look after it right? Yesh. Either way Bitfinex not being able to trade suddenly due to lack of banking was going to affect the market. I amazing its held over $5.1k so far despite this news. 

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5 hours ago, markyh said:

Here have $1b in crypto assets, you promise to look after it right? Yesh. Either way Bitfinex not being able to trade suddenly due to lack of banking was going to affect the market. I amazing its held over $5.1k so far despite this news. 

It's been common knowledge for years that tether and bitfinex are dodgy as hell. The sooner they blow up for good the better for the market as a whole. 

This problem has been dragging on for years. 

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i could have made a fortune if i had listened to max keiser...if i had correctly understoood how many would jump on the bitcoin bandwagon....i didnt believe in it then and i don't believe in it now....all these dodgy exchanges from mt gox to Quadriga.......the whales own most of the bitcoin and manipulate the price...in normal markets its called "painting the tape"

How you could lose a fortune just by losing your own keys..let alone be hacked ..or the exchange(don;t make me laugh) getting hacked or engaging in criminality....

Seems to me anyone who even has bitcoin on an exchange only has a claim to bitcoin and doesnt even own it....

Still listen to Max...and his Lightning network discussions etc.....just the other day he was interviewing someone who was actually (again) make it possible for people to pay with bitcoin...there was the discussion it was originally for transactions then switched to "store of value"(because it ws **** for transactions).....store of value dont make me laugh...it doesnt even exist...at least fiat currency is backed by govt with infrastructure and guns....

Bitcoin is dead and will be gone within 5 years......anything created by an anonymous charachter becoming digital gold ...or a world currency ..ha ha ha ha.

 

That was the first time i have ever commented on bitcoin or crypto but i have followed it for years...i have no bias...it simply is fools gold or the emperors new clobber !

Edited by Spindler

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8 minutes ago, Spindler said:

i could have made a fortune if i had listened to max keiser...if i had correctly understoood how many would jump on the bitcoin bandwagon....i didnt believe in it then and i don't believe in it now....all these dodgy exchanges from mt gox to Quadriga.......the whales own most of the bitcoin and manipulate the price...in normal markets its called "painting the tape"

How you could lose a fortune just by losing your own keys..let alone be hacked ..or the exchange(don;t make me laugh) getting hacked or engaging in criminality....

Seems to me anyone who even has bitcoin on an exchange only has a claim to bitcoin and doesnt even own it....

Still listen to Max...and his Lightning network discussions etc.....just the other day he was interviewing someone who was actually (again) make it possible for people to pay with bitcoin...there was the discussion it was originally for transactions then switched to "store of value"(because it ws **** for transactions).....store of value dont make me laugh...it doesnt even exist...at least fiat currency is backed by govt with infrastructure and guns....

Bitcoin is dead and will be gone within 5 years......anything created by an anonymous charachter becoming digital gold ...or a world currency ..ha ha ha ha.

 

That was the first time i have ever commented on bitcoin or crypto but i have followed it for years...i have no bias...it simply is fools gold or the emperors new clobber !

Lol let another nocoiner without the balls to buy in,  within g the price back to $100 or less so they can take a position. Good luck, I’ve booked marked you post for review in 2024, those who said exactly what you said on here in 2013 don’t look so clever now. 

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38 minutes ago, UberMonkeySmallAndChunky said:

This means Bitcoin is finally dead.

Nah a load of people foolish enough to leave bitcoin on an exchange just got burned. I’m sure this will happen again and again, no keys, no coins.

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8 minutes ago, markyh said:

Lol let another nocoiner without the balls to buy in,  within g the price back to $100 or less so they can take a position. Good luck, I’ve booked marked you post for review in 2024, those who said exactly what you said on here in 2013 don’t look so clever now. 

the fact you use the term "no coiner" just goes to show what  you are all about...i am very familiar with that term...its used by zealots in crypto who cant see crypto for what it really is....great you made some money you jumped on a scam..good for you....you only make money when you exit your crypto the fact your crypto is valued in fiat currencies shows the crypto for what it is...it isnt money..

No Coiner Ha ha ha ha cheapest shot of a crypto guy ha ha ha 🙂

Bitcoin  will be gone by 2024...

Irony is Max's other love Gold and Silver and the other PM's wll probably rise one day soon to crush crypto for good..he is probably right there...he's hedged both ways i figure

 

 

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1 hour ago, Spindler said:

i could have made a fortune if i had listened to max keiser...

i listened to him in 2013, i bought a small amount as part of a diversified portfolio. As that seemed sensible and prudent at the time, regardless if i believed in bitcoin or not. Some limited exposure would not of burnt me if it went to zero but the upside could of been huge. And as part of a varied portfolio i was hedged elsewhere.

You see some of us did make a fortune listening to Max. Not that he is really a great source, but at least he was one of the few people in media to actually highlight to the masses what bitcoin could be. 

Bitcoin will be gone by 2024? OK... explain, you think it will be hacked? you think everyone will suddenly believe its worth nothing? government bans?

how come you didn't get any exposure? if you can see soo well into the future what did you put your money into at the time which outperformed bitcoin? what did you invest in? 

No sane person would be sitting here thankful they didn't get exposure in bitcoin years ago

Holding Gold is sensible for several reasons:

1. Its a hedge if you own any other asset class as part of a varied portfolio
2. Easy to move and hide, always worth something
3. If you hold bitcoin, the only viable way governments or banks could actually attack Bitcoin is to let gold fly as high as it should be by removing the manipulation downwards, let gold act like gold used to 100 years ago, let it act as a value store again. The will be no attraction to bitcoin if gold outperforms it (like it should), and bitcoin would lose its use-case, which could eventually kill it.

For banks they could let gold fly, for a 5 year period to kill Bitcoin before manipulating gold down again via paper certs, better the devil you can control than the one you cant. Hence why even Bitcoin is very similar to gold, you really should hold both. 
 

Edited by jiltedjen

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1 hour ago, Spindler said:

Bitcoin  will be gone by 2024...

Irony is Max's other love Gold and Silver and the other PM's wll probably rise one day soon to crush crypto for good..he is probably right there...he's hedged both ways i figure

 

 

Great at least 15% of my portfolio is in Gold and precious metal funds. Win win for me. But no doubt As Bitcoin is 10x+ the previous cycle low this time it will go to 10x the last cycle high in 2021. Then sitting at $200k you will bitch and moan while the clever ones cash out and leave some for the next cycle. 2024 will be 3 years out of the next cycle high in 2021 so my counter prediction to you is Bitcoin will be somewhere around  $60k in a consolidation phase after crashing from $200k to $30k in 2022/3. 

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No sane person would be sitting here thankful they didn't get exposure in bitcoin years ago

Did i say that ?

It is worth nothing...it always has been and always will be it simply does not exist...it is worse than fiat currency.....it is always being hacked on a personal level and via exchanges....it is a crypto version of theranos...an utter scam

The exchanges are a joke...subject to none of the control of a proper exchange they have indulged in criminality often just down to bad management not malice.. Quadriga....what a joke...one bloke (allegedly) dies and poof its all gone.....can really see that happening with the NASDAQ cant we....

80% of bitcoin owned by less than a thousand people apparently.... perfect with no regulations to indulge in painting the tape....an illegal activity on a regular exchange...

it is so easy to hide people have lost it from themselves......it is however totally visible on a transaction level...due to the nature of the blockchain...only recently an audit was done on an exchange and coins are missing to the tune of hundreds of millions.....

Now the lightning network is going to change everything  hear.....good luck with that...

fine smart move hedging and buying some..if youve taken profits...yes i should have but it''ll go to zero...the more i have learned the  less viable i see it....as i said its Theranos ...its a scam...

Fake guy as an inventor...could have been any number of agencies behind this...front running it for all sorts of reasons....and its going to change the world...no ...when all said and done it'' still be fiat currencies....SDR's ..gold and silver...can see youre smart to hedge  and why not take a punt...i should have...but i didnt...i'm not thankful i didnt who would be ? But i chose not to...i have learned some stuff from Max but i don;t always agree with him...

I'll leave you with Jim Rodgers view.....".it won't survive Govt have the guns..."

So there is something backing fiat..

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6 minutes ago, Spindler said:

It is worth nothing...

so what makes gold worth something? or fiat? 

what makes anything worth anything?

its what people put value on, its just humans. And bitcoin is worth £4,000 each right now.

You can scream at the moon all you like, but just because you didn't and still don't see value in bitcoin does not mean that others don't. Clearly people do put value in it. Just like we may all feel a house should be worth say 4 times a yearly wage, sadly again its people who put value on things. like it or not that's reality. 

Bitcoin itself has never been hacked. The exchanges have been plenty of times, but again its all about risk management, you wouldn't put your whole stash on a single exchange and lose the lot would you? some people do.

Historically there have been bubbles that lasted many many years, but that didnt stop people becoming rich from them, look at the housing bubble, or railway mania, they just kept going, with railway mania the whole country was almost paved with rails until it popped and even then the government bailed it out twice. Look at how far the government has gone with the housing bubble? 

Bitcoin may turn out to be an interesting foot-note in history, but its not a scam, it might be a bubble, but that doesn't stop people becoming rich from it does it? 

whats strange is that you say the more you read about bitcoin the more its a scam? but its the opposite to me, the more i read the more beautiful it is, when you take in the context of history, phycology, politics, economics, etc etc, its a real world changer, its something thats once invented cant be put back into the bottle. 

its sad that you didnt see the future in it, or even took the most basic prudent hedges, then come on here screaming at the moon angry at your own personal failures, you just needed to be sensible and prudent and hedge, you should still own a bit now, as at the moment your basically saying your self belief is soo strong your confident your 100% right (dispite your previous mistakes), thats your willing to keep making the same mistake and not invest a tiny amount as a basic component of a varied portfolio?

they say the wisest man is a man who knows he is not wise at all.

I see it that regardless of my faith in bitcoin i limit my exposure, as i know that im probably wrong, but i hedge accordingly, as thats just pain common sense.

frankly its sad that you didn't have any common sense, and you still dont. Surely you should learn from past mistakes?

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right i tried to debate you Jilted jen nicely...

you twist peoples words quite easily don't you ?" then come on here screaming at the moon angry at your own personal failures "

i never did any such thing...you let yourself down by twisting peoples words

i stated my view of bitcoin in a a debate and you accuse me of screaming at the moon and being angry with my personal failure

My personal failure was trying to have an adult dialogue WITH YOU

i hate to use the ignore list...but sometimes necessary...and on you go

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58 minutes ago, markyh said:

Great at least 15% of my portfolio is in Gold and precious metal funds. Win win for me. But no doubt As Bitcoin is 10x+ the previous cycle low this time it will go to 10x the last cycle high in 2021. Then sitting at $200k you will bitch and moan while the clever ones cash out and leave some for the next cycle. 2024 will be 3 years out of the next cycle high in 2021 so my counter prediction to you is Bitcoin will be somewhere around  $60k in a consolidation phase after crashing from $200k to $30k in 2022/3. 

not bitching or moaning and won't..good luck i'm curious with crypto but i had and have no interest to get onboard....everything i have learned makes me less inclined...good luck to you..its no skin off my nose......you may make more money from maybe you wont....i think its rubbish...maybe it is maybe im missing something...maybe you will make more maybe it will go to zero....

Please don;t pre guess my emotions telling me i will bitch or moan ....i'm not and i won;t

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When did everyone sell. I thought it had to be turned into fiat to make money ??

Personally I think gold is overvalued also. Best off with my useless fiat.

Interesting to see where it ends up more than likely zero eventually just depends if anyone has balls to actually sell it.;)

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46 minutes ago, Spindler said:

right i tried to debate you Jilted jen nicely...

you twist peoples words quite easily don't you ?" then come on here screaming at the moon angry at your own personal failures "

i never did any such thing...you let yourself down by twisting peoples words

i stated my view of bitcoin in a a debate and you accuse me of screaming at the moon and being angry with my personal failure

My personal failure was trying to have an adult dialogue WITH YOU

i hate to use the ignore list...but sometimes necessary...and on you go

I think the screaming at the moon comment was regarding you repeatedly saying it’s nothing and is worthless, whilst its clearly worth around $5100 right now.

And the majority of your criticisms seem to be about exchanges. Yes, security is difficult and a lot of exchanges can’t be trusted. But think ahead to a future where maybe your bank could hold it, insured against theft. And they could prove they hold it by publishing addresses where it is held for example. Bitcoin allows you to be your own bank, but that doesn’t mean you have to be and it’s not for everyone.

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21 minutes ago, dannyf said:

I think the screaming at the moon comment was regarding you repeatedly saying it’s nothing and is worthless, whilst its clearly worth around $5100 right now.

And the majority of your criticisms seem to be about exchanges. Yes, security is difficult and a lot of exchanges can’t be trusted. But think ahead to a future where maybe your bank could hold it, insured against theft. And they could prove they hold it by publishing addresses where it is held for example. Bitcoin allows you to be your own bank, but that doesn’t mean you have to be and it’s not for everyone.

i think it is worthless and i dont have any emotion about it either way...so i think the passionate advocates of bitcoin added the drama....i'm going to clear off from this thread tbh i've learnt something from the crypto side i don't particularly like....its advocates dont like a contrarian message....and don;t play too nicely...if it even qualifies as an industry/market it is massively immature...

i only wandered here out of curiosity...i'm more interested in other things inc direction of BTL and HPC....tbh

 

I take your point btw abut $5100 and that is considered it s market value ...certainly not a punt entry point and not something i would even consider....considering my views on it..

anyway .i'm off 😉

Edited by Spindler

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7 minutes ago, Spindler said:

i think it is worthless and i dont have any emotion about it either way...so i think the passionate advocates of bitcoin added the drama....i'm going to clear off from this thread tbh i've learnt something from the crypto side i don't particularly like....its advocates dont like a contrarian message....and don;t play too nicely...if it even qualifies as an industry/market it is massively immature...

i only wandered here out of curiosity...i'm more interested in other things inc direction of BTL and HPC....tbh

 

I take your point btw abut $5100 and that is considered it s market value ...certainly not a punt entry point and not something i would even consider....considering my views on it..

anyway .i'm off 😉

See you in 2024 :)

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Still more than a year away from the halving.

24th May 2020. 

Price might even be short-term over-bought considering that. 

you know when we are reaching mania stages when the alt pumpers flood this thread and drown out the bitcoiners. 

At the moment it’s still early and pretty subdued.

it’s still pretty incredible to me that we have not hit a recession in the general economy by now, it’s surely due?

we are living in a world run on extremely soft money and zombies live on. negative interest rates and QE x1,000 is on the cards for the next recession, perhaps we will see new schemes when 20% of all money in your bank accounts is instantly converted to gift vouchers with a 1 year expiry date, spend it or lose it at a range of big name stores. 

QE is mental enough, the extent of the props for the housing market are unbelievable, god knows what they will do next. 

regardless of bitcoin everyone should have some kind of diversified portfolio. we will be forced to spend 

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Runaway Inflation could be a concern however fiat can always be purchase flipped or invested to produce a return even though its value is less than the stated amount. As it stands coiners have lost more already since 2017 than I could possibly lose if inflation runs away. my fiat is valued against housing and its value is rising by the week.:lol:

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1 hour ago, longgone said:

Runaway Inflation could be a concern however fiat can always be purchase flipped or invested to produce a return even though its value is less than the stated amount. As it stands coiners have lost more already since 2017 than I could possibly lose if inflation runs away. my fiat is valued against housing and its value is rising by the week.:lol:

Only if you bought peak December 2017 and sold December 2018. If not only loses are Paper. Losses are set at the point or purchase and sale. However runaway inflation will destroy your cash savings and value of your wages in the near / midterm. If you bought Bitcoin in 2013-2016 or before you are way way way up vs inflation. 

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  • 223 Brexit, House prices and Summer 2020

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      • down 5% +
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      • up 5%



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