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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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53 minutes ago, markyh said:

i'm sure @MonsieurCopperCrutch will update us on moving $1/4 million from Kraken to his UK banks, and its fun and games. Glad he is being my guinea pig. lol. 

I’ll be moving it out into Barclays over a number of days as I have an intermediary account at Kraken with a max daily withdrawal of $100,000. I’ve already initiated the first £76,921 transfer. Still no sign of it in my bank.  

Edited by MonsieurCopperCrutch
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5 hours ago, PeanutButter said:

I like how you're now attacking 'no coiners' instead of simply admitting you prioritise the purchase and promotion of something that is completely superfluous to human life (if bitcoin disappeared entirely tomorrow as if it had never existed nothing physical would change in the world) over and above the global environment. 

I've also posted in the last 24hr mocking gas guzzlers, so yes I complain :D 

At least @longgone isn't busting into every thread demanding we all buy EarthDeathCoins and insinuating anyone who doesn't want to (Does Free Will Still Exist: Bitcoiners Hope Not) is a pathetic idiot. Do you get how insulting that is?

You've asked me to be honest so here I am being honest. Having Bitcoin, a useless product that inspires an insane level of obsession in every one of its converts, rammed down my throat on every second thread here is gnawing my bagpipes. I'm very happy you're all going to be millionaires, mazel tov, good luck! But it's a product that is inherently bad for the entire world on a grand scale and I'm yet to see a single one of the prophets of BTC simply admit you do not give a * about any of that as long as it make you rich. Your turn to be honest.

Well, similar to how you don't like bitcoin ramping on other threads (which I don't think I am guilty of), there are the same arguments against bitcoin in this thread on almost every one of its 800 pages, so apologies for the 'salty nocoiner' but it comes from frustration over that.  You think bitcoin is superfluous - many here don't.  You could say the £ is superfluous and we could use dollars, or fiat is superfluous and we could use gold, or go back to a barter system.  Global finance and the economy requires a digital money, and bitcoin is far superior to existing government controlled inflationary ones.

The energy use of bitcoin serves a critical purpose, to secure the network and avoid the blockchain history being rewritten.  The amount of energy used is also not prescribed - it doesn't have to keep rising and rising.  It's down to individuals choosing to become miners.  The network would work perfectly well with one single miner on a home computer (but wouldn't be at all secure).  The individuals that choose to mine are paying for their energy - its a market.  The energy needs to be priced according to where its sourced and how bad it is for the planet.  Energy use itself isn't inherently bad - we need to move more and more to energy sources aren't bad for the planet.

Anyway, if we start from a position where you believe bitcoin is superfluous and valueless, and I start from a position where its a long overdue superior form of money, we're never going to agree on whether its energy consumption is a waste or is useful :)

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14 minutes ago, MonsieurCopperCrutch said:

Out of everyone on here I expected you to be the most happiest for me. What after all those years of you telling me to sell so I could secure my mad gainz. There’s no pleasing some people I guess. 🤷🏻‍♂️

its good that greed is not your first love after all. ;) 

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3 hours ago, MonsieurCopperCrutch said:

Just took £246,000 off the table. To be clear a sale of 10% from my holdings and the first time I have sold since implementing my DCA + HODL = FTW strategy in 2013.

That's quite a position! Congratulations

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18 minutes ago, MonsieurCopperCrutch said:

Thank you. 

Congratulations. It's nice to see people on this thread/ website doing well. There is a lot of doom and gloom on this website. It shows what people can do outside of housing.

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Received a message from bank today telling me that the interest rate on my cash ISA is reducing to ***0.09%***

What an utter extraction of urine. 

Temptation to just dump it all in crypto is pretty high but this recent rocket launch feels a bit unsustainable. But then I said the same thing about the housing market for most of a decade so what do I know 🤷‍♂️

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40 minutes ago, MonsieurCopperCrutch said:

@markyh 

Saying that it’s just landed safely. So that took ~3.5 hours using Clear Junction (FPS) at a cost of £1.95:

 

587300-D9-4976-412-A-99-AC-6108-D2757-AA

 

 

Congratulations, did you talk to them in advance warning of incoming booty?

there must be a lot of millionaires on erm digital paper these days scratching head about what do with such gains, it’s a tough call whether continue holding or diversifying, not a bad problem to have I suppose 

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3 hours ago, yelims said:

Most importantly no debt

its important keep a diversified outlook imho, good health and education then help in any sharp downturn in various asset classes 

Tho yeh bitcoin ride has been incredible tho I think this is the 5th bubble I’m witnessing imho

 

could I have made better investments, sure hindsight is 20/20 tho, who would have known that funny internet money would become so valuable or there be a pandemic 

Diversity is good, as is no debt. I assumed there was a good chance of Bitcoin going to zero (there still is!) so I only invested what I could afford to lose on a gamble. Hasn't done me badly at all!

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58 minutes ago, MonsieurCopperCrutch said:

@markyh 

Saying that it’s just landed safely. So that took ~3.5 hours using Clear Junction (FPS) at a cost of £1.95:

 

587300-D9-4976-412-A-99-AC-6108-D2757-AA

 

 

Well dome m8. Let us know if Barclay's call to investigate!!! I'm sure i am a level above you @ kraken and can withdraw £250k a day.

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8 minutes ago, Huggy said:

Diversity is good, as is no debt. I assumed there was a good chance of Bitcoin going to zero (there still is!) so I only invested what I could afford to lose on a gamble. Hasn't done me badly at all!

Yeh what worries me is people borrowing money to put into stocks or crypto, talk about taking insane gambles. Hell you can now borrow cash apparently with crypto as collateral apparently 

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7 minutes ago, MonsieurCopperCrutch said:

Thank you everyone. This was never a secret I kept to myself. I always shared my strategy on here and elsewhere. It was just up to the individual if they wanted to listen and learn. 

Yes thank you for the initial clarifications. Would have been really useful had my wife not been literally months ahead of me ;)

Must be a good feeling for you. 

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22 minutes ago, btd1981 said:

Received a message from bank today telling me that the interest rate on my cash ISA is reducing to ***0.09%***

What an utter extraction of urine. 

Temptation to just dump it all in crypto is pretty high but this recent rocket launch feels a bit unsustainable. But then I said the same thing about the housing market for most of a decade so what do I know 🤷‍♂️

I first started during a peak and kept buying on the way down. You then benefit when it pumps. I’ve held through 2 bear markets never once flinched. We’re still going to $100,000 and beyond. 

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£15 a coin seemed expensive to me at the time. Wish I backed the truck up at that price now! 

I'm guessing maybe $85,000 top this time, but could take a few more months yet. 
 

anyone else feel constantly stressed about their massive BTC bag? I have to admit my massive balls of steel are starting to feel a bit heavy! 

everyone has a price, but it would pain me for bitcoin to just be translated into paying the mortgage off, that would still put me behind the average boomer of my age when they were my age. 

sort of feel it should suck value away from houses also and we are not there yet

Edited by jiltedjen
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