Topic: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion - page 11684. (Read 26711434 times)

^that's what's making me feel cold

and back under that nasty ass 3.4K

First dibs on the dead man's bitcoins.

Thank you.

Here's an unconnected thing

https://twitter.com/nntaleb/status/1092117554766716931

pm sent.

Actually, no, I "earned" 50 BTC worth of shitcoins (well, I don't consider them shitcoins, but whatever) ... my mistake was not cashing them out to BTC when I had the chance, and in hindsight, cashing out those BTC to fiat (maybe some, not all) so that I can live comfortably for a couple years, and then find a normie job without worrying about the future. (50 BTC was $1m USD back in Jan 2018? Something like that.)

And continue to earn or hodl everything.

But hey, no one's perfect. Either learn from your mistakes, or learn from other's mistakes. Still think they were pretty good bets.

A bitcoin would help so much, I'm not going homeless, and I've got a family to keep warm.

An Israeli "startup" is monitoring Bitcoin donations to Hamas.

.

https://en.globes.co.il/en/article-hamas-raises-bitcoin-donations-via-us-crypto-exchange-1001271661

There's no such thing as an "altcoin".  It's a propaganda term used by people like Luke Jr to attempt to hide the fact bitcoin has no valid Schelling point.  Every single thing about bitcoin is completely arbitrary.  There is no variable or aspect of it that has to be a certain way.  Trying to pretend the date should be changed from 2019 AD to 10 AB (after bitcoin) is the most ludicrous bullshit scam ever perpetrated.  

Even the creators of bitcoin say the design of it has a large chance of failure, so how is it possible to claim bitcoin is inherently better than anything someone else creates?  It's not.  This is one reason cryptocurrency is complete garbage.  No Schelling point.  It's not possible for something to be the unit of account of anything if it's completely arbitrary and can just be discarded at whim for something else.  That and if you corner every shitcoin on the planet, no matter which coin it is, you have no power over anyone because nobody actually needs your tokens and they can just use a different one instead where the distribution favors themselves.

That's why a fake commodity like bitcoin is useless.  If I corner all the silver in the world, people actually need them so I can just sit in my castle and gouge the market for whatever it can bear.  That is real power.  Digital shitcoins give you zero power over anything.  I can ignore you like you don't even exist no matter how many you hoard.

Okay I like that one.

shitcoins... by the way who is selling Merits? I nearly running out of sMerits.

Four points here:

1) Dabs I appreciate that you are being frank about your situation, and likely you realize that revealing some of your situation would have likely resulted in various kinds of attacks in regards to your own reasonableness in dealing with such situation.

2) regarding the substantive point about HODL only applies to bitcoin.  Yes.  Exactly correct, 600watt.  I have made this comment in this thread, in real life and also in other bitcoin/crypto threads.  Any of the prudent trading practices that apply to bitcoin, such as HODL, incremental accumulation, dollar cost averaging, buying on dips, etc do not apply to alt coins... Maybe, perhaps, you might get lucky and find one or two of the thousands of altcoins in which there is actual fundamental long term value, but generally speaking you should not be concluding either that they have fundamental value nor engaging in such long term fundamental investing into any of that pump and dump shit.

3) If you have already taken a position in any shit coins, then you should be ready, willing and able to reconsider your position, but if you already devolved into investing more than 20% of your crypto value into such shit, then you may have become too attached to both your position and hoping that at least some portion of your various shit investments pump

4) this point relates to point 3, and really you should not be investing more than 10% or so of your total crypto value into alt coins.  Of course, I recognize that younger people might be ready, willing and able to take more risks, but even then, you gotta remain somewhat measured in how much you are allocating to risk.  Bitcoin, by itself, is already risky, and many of the alt coins track BTC's performance anyhow, so there is no real advantage to investing in shit coins, unless you merely want to make some real short term plays based on some kind of insider information that is hopefully reliable and you can get out of such alt position in a timely manner of your own choosing.

The problem with altcoin staking is that it is a sugar hit.

Staking reduces circulating supply which props up the price.  Stakers get "interest" payments, so it feels like a perpetual money machine.

But really what is happening is the interest payments are inflation, chipping away at the coin's value.  When the stakers realise that their stake is falling in value faster than they are getting interest payments, they dump their stake.  

All that locked up liquidity comes flooding back onto the market, and it cycles downwards.  

Jbreher, are you scouting it out for residency?

yes, that is indeed a fascinating phenomenon. no-coiners feel the same way towards bitcoiners as bitcoiners feel towards shitcoiners.  every time i tried to invest some btc into any alt it felt so wrong. no scarcity, no security, not decentralized, no use case - how can one trade valuable bitcoins for those scamcoins? because the percentage gains flashing on cmc make us salivate. but those %gains are FAKE, that is the problem. i am sure cmc has ruined more people than we can imagine.  
what no-coiners don´t get is that when it comes to crypto, btc is the conservative bet. to put a bet on top of this bet by buying (worthless, scammy, useless) shitcoins is pure gambling.

Transaction validators are always designed to centralize in every cryptocurrency due to a multitude of compounding variables such as asymmetric global energy prices, the asymmetric bell curve's effect on circuit design, enormous startup capital requirements of a foundry, compound interest, economy of scale, a legal system that forces gatekeeper chokepoints due to AML/KYC, among dozens of other variables.  It's 100% impossible to create a decentralized digital currency period.  You ignore the lessons of why people like Larimer attempted to create a fixed amount of transaction validators to combat this obvious problem.

Where are the built-in middlemen in cryptocurrency?  How do you not see them?  They're called rent seeking transaction validators.  You're required to both ask them permission and pay them a ransom fee anytime you wish to transact.  The system is designed to allow them to blacklist any transaction they want.  That's called a permissioned ledger, and it's 100% inevitable every non-fungible token behaves in that manner.  It's completely impossible to even do a peer to peer digital currency transaction.  The whole thing is a lie.  Each transaction ALWAYS involves three or more people, not two.  

In real money - physical metals- a peer to peer trade is actually possible involving ONLY two people.

cause its really good and XhomerX bless I will wear it sometimes as well THX man

Yeah I hear similar stories almost every day. One guy from the UK I met last week had invested in Litecoin mining biz. He had some 10-15 Antminers. Had t shut them down and sell as the couldn't afford to pay the electricity bills and with today's LTC prices it wasn't paying off. His wife left him he's in the process of getting a divorce right now because of his financial situation. If this isn't freaking 'blood in the streets" then what is? HODL brethren, HODL till the end!  

Good analysis provided which i like to follow. Many analyse are good and right. Good luck.

You are right but we don't live in a perfect world.

I know bitcoin is the real thing, you know, i am sure Dabs knows it too but there are gazillion of people who'll be buying those shitcoins and do you think I am stupid if I want to profit from their stupidity? -no offense Dabs.

Dabs's mistake was, he didn't dump his alts on those suckers when he had the chance.

Ironically though, FIAT believers think the same thing about us, btc holders. "Poor fuckers they didn't dump their btc on suckers when they had the chance."

It gets confusing a bit