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Bitcoins - fad or trend?

Discussion of all things crypto and blockchain.
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Bucketeer
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Re: Bitcoins - fad or trend?

Postby Bucketeer » Tue May 19, 2020

Bitcoin Audible: Read_394 - Blockstream Satellite 2.0 [Adam Back, Chris Cook] • May 15
https://anchor.fm/thecryptoconomy/episodes/Read_394---Blockstream-Satellite-2-0-Adam-Back--Chris-Cook-ee40gs

(scroll down and click the Bitcoin Audible Read_394 podcast icon. 24 minutes)
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SilverDoge
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Re: Bitcoins - fad or trend?

Postby SilverDoge » Tue May 19, 2020

In 30 seconds, FED chairman makes the ultimate case for a non-manipulated money: ₿itcoin

https://www.reddit.com/r/Bitcoin/comments/glwe69/hahahaha_printer_goes_brrrrrr_brrrrrrrrr/
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joefro
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Re: Bitcoins - fad or trend?

Postby joefro » Tue May 19, 2020

It looks like BTC is weathering the impacts from COVID-19 better than almost all sectors of the economy. At what point, after how many years, is it time to admit we've already answered the question of fad vs trend?

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Bucketeer
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Re: Bitcoins - fad or trend?

Postby Bucketeer » Tue May 19, 2020

This topic could probably use a new title.
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Bucketeer
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Re: Bitcoins - fad or trend?

Postby Bucketeer » Wed May 20, 2020

Bitcoin.com: Grayscale Buys 33% of All Bitcoin Mined in Last Three Months.
https://news.bitcoin.com/grayscale-buys-33-of-all-bitcoin-mined-in-last-three-months/
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bazzytangokoko
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Re: Bitcoins - fad or trend?

Postby bazzytangokoko » Wed May 20, 2020

Chairman of the Bored

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SilverDoge
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Re: Bitcoins - fad or trend?

Postby SilverDoge » Wed May 20, 2020

bazzytangokoko wrote:https://twitter.com/whale_alert/status/1263120977849978880?s=20

Led me to https://twitter.com/nic__carter/status/ ... 82272?s=20

Led me to http://satoshiblocks.info/

Now I have something to do (research) this long weekend! :clap:


Checking the Reddit sleuth team and....https://www.reddit.com/r/Bitcoin/comments/gnhrj9/breaking_news_the_address_of_the_bitcoin_from/

Some anonymous miner just called Craig's bluff and has placed Craig Wright [Faketoshi] on the hot seat.

In the court case, Craig claimed to be locked out of his 16,000 bitcoin addresses while he waited for a "bonded courier" to arrive and unlock his "Tulip Trust" containing 1,000,000 Bitcoins ($9 bil USD)

If Craig Wright's story is true, the Tulip Trust is now unlocked and can move his coins to prove he owns them.

If Craig Wright's story is false, then he will still be unable to move any coins and his fraudulent filings will be made known to the court.
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SilverDoge
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Re: Bitcoins - fad or trend?

Postby SilverDoge » Wed May 20, 2020

Nice overall bitcoin explanation, and starting at 15:30 rationale for having a small percentage of one's portfolio in bitcoin. Asymmetric returns and probabilities make it a no-brainer to have a small bitcoin allocation.

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SilverDoge
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Re: Bitcoins - fad or trend?

Postby SilverDoge » Fri May 22, 2020

It's the 10-year anniversary of the first official BTC transaction.... BTC pizza day. 10,000 BTC for 2 large pizzas!

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* pic taken from Reddit here: https://www.reddit.com/r/Bitcoin/comments/gofo2z/happy_pizza_day/
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Bucketeer
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Bitcoin - The currency of the Internet

Postby Bucketeer » Fri May 22, 2020

.
Time for a shout-out to all my fellow HODLers. Hello Brethren, and welcome to those just getting into the Bitcoin economy.

For the newbs, I realize and understand the sheer terror of $1K intraday drops, and long periods of Bitcoin price deflation. Been there, done that - I get it. After owning it awhile, you won't think about how much of a loss you've taken on your wealth, but rather....what caused the drop?

Bitcoin is actually wealth, plus it is easily transferable. You can't do that with Gold or Silver. You can also cross borders that enforce currency restrictions. You can also transact world-wide with a computer or a smart phone. No need about the Internet, Blockstream offers satellite services. Get a solar charger and a satellite phone, and you're ready to play.

The longer you HODL it, the more immune you'll become to the price volatility. Don't let a few of the resident trolls on here shake your confidence.

The trolls post because they are bitter because they "think" they missed out on Bitcoin, but the reality is that the growing acceptance of Bitcoin, the effects of the halvening, and scarcity, and supply & demand is going to push the price higher (USD/BTC).

Grey Scale and Square One are currently buying over 66% of all newly minted Bitcoins. They sell to institutions (smart people & smart money), and they are not in the retail market. Ponder that for a moment.

Bitcoin is the currency of the Intranet, and it is here to stay. It's still growing after 10 years, and has survived 380 "death calls" from academics and economists, the media, world leaders, and banksters (welcome aboard Jamie!).


For those of you who think you've missed out, I'd like you to consider DCA $20 per week. You can always contribute more, but I doubt $20 per week isn't going to crimp your lifestyle. If you buy and HODL it now, you'll probably be pleased in 10 years, and 10 years isn't a very long time.

I recommend gold and silver, although those products are a very "blunt" ax. Roosevelt dimes and Washington quarters should be very acceptable trade units, because of their size. ASE, Englehard, Maple Leaves, JM,and Morgan and Peace dollars might be OK for larger transactions, but Bitcoin will be much easier to use at the grocery store.

Go to your local bodega for a gallon of milk. The merchant isn't going to make change for your ASE, he will tell you to "buy-up" to the value of the coin.

HODL ON my Brethren. Newbs and wanna-bees....get on the bus, what are you waiting for?

: stepping off the soap box :
Last edited by Bucketeer on Sat May 23, 2020, edited 1 time in total.
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300Braveheart
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Re: Bitcoins - fad or trend?

Postby 300Braveheart » Fri May 22, 2020

And Litecoin? Is the "silver to bitcoin's gold" doomed to the same fate as the physical: an increasing "litecoin/bitcoin ratio", despite the undisputed, limited/proportional supply constantly promising "a return to fundamentals"?

It's hard to see the cryptos as any different than the stock market when "remain irrational longer than you can remain solvent." (steps off devil's advocate soapbox)
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Bucketeer
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Re: Bitcoins - fad or trend?

Postby Bucketeer » Sat May 23, 2020

I think that Ethereum needs to die so that Litecoin can flourish. That isn't likely to occur.

Ethereum isn't a monetary unit, it is fuel, and frankly, Ethereum is a con-game. Look at all of the sh*coins built upon Ethereum.

Smart contracts? Consider The DAO. LMFAO.

Vatalik had a good idea, but he was immature and listened to bad advice. First "The DAO", and then all of the criminals that jumped into the sh^t coin world, based on Ethereum.

Let me restate: Vatalik had a good idea, but he was immature and listened to bad advice.

Ethereum was a clean-sheet, it wasn't tainted like Bitcoin (Silk Road).
Last edited by Bucketeer on Sat May 23, 2020, edited 1 time in total.
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Bucketeer
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Re: Bitcoins - fad or trend?

Postby Bucketeer » Sat May 23, 2020

I said that Ethereum was a con-game. That is incorrect. It was designed with good intentions.
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