Thread: RIP Bitcoin

if you have coins in exchange wallets , I would seriously think about moving them to a wallet on your computer ( and of course back up to a couple of USB keys ) - you should only move them to the exchange wallet when you want to trade

Originally Posted by longway

The l price of bitcoin is a small issue in the big picture. In about 5 years we will all be using some form of crypto as a matter of course. Economic activity will be further separated from the state and banking system. It will be a boon for the unbanked and down trodden masses in the 3rd world, more of them have mobile phones and internet than Bank accounts, it is going to be truly liberating for them. This is real democratisation and will bring with it a lot of prosperity

jesus what are you guys smoking

Gold fever, reminds me of socal, same speech pattern

Long Term Credit is a safer option.

Dragonfly: BTC is rising because people with money see an opportunity, some to hide money, for risk/reward, a quick buck or investing in something that is established with great potential over the long haul. Increasing volume says it's not Somchai that has found a temporary home for his booze money.

Look what's happening with SET. More than 60% of 3Q earnings are disappointing, many stocks are at their 52-wk or even 2-3 year lows when SET was in the 12-1300s, and SET is still powering up. Meanwhile, some stocks with poor to scary numbers have shot up without any visible reasons. Even defensive stocks from earlier this year look to be overvalued and rising. Suggests to me a concerted effort to induce gambling fever as the mood of the day with artificial prices, and then a sharp stab at the wall to clean up a few more billions from the lower life forms.

Another 10% to BTC in a few days, 10k looking closer.

the funny thing with bitcoin is how insecure they are despite claiming otherwise,

and how it attracts all the criminals, see Andrew Drummond website for another story of a British con artist using bitcoin to promote his new scam

mining is another scam unto itself, only early birds will get something

some banks and Exchange hope that blockchain could help make settlement faster and cheaper. We heard the same arguments when "XML" related techs were being promoted in banking for settling transactions. It is 15 years later and it's actually more expensive to implement those tech in their back office, with no value or advantages to be seem, except to satisfy a few geeks about XML and a lot of work for cheap Indians. Who fucking cares about XML today, yet that was the "blockchain" revolutionary tech of the early 2000s for banking.

This is why "blockchain" will fail to streamline or make settlement be more efficient. Banks are fucking idiots when it comes to tech. They will take any simple or any good technology and fuck it all up and pervert it until it lacks all substance and significance. This happened for everything hi-tech they ever touched. And sadly we can't live without banks, so that's us doomed with those new tech toys.

Instead of putting 2500 in a stupid new machine, and lose it all, put that money into good use, and give it to charity, it will be more useful. Don't waste your money on things you don't really understand, just to feed your little ego. A lot of starving people could use that money instead.

You could even make a Pies donation

Aussies are lapping up on BTC.

Originally Posted by Dragonfly

Instead of putting 2500 in a stupid new machine, and lose it all, put that money into good use, and give it to charity, it will be more useful.

how about you sell a couple of televisions and give the money to your favourite ladyboy

butterfly - you do not realise how much you do not understand about blockchain tech - nothing like XML

the only thing the blockchain tech that the banks are looking at now has in common with bitcoin is the mathematical tech

now pss off back to the soi 6 forum and teach newbies how to spot a ladyboy

Originally Posted by jabir

Dragonfly: BTC is rising because people with money see an opportunity, some to hide money, for risk/reward, a quick buck or investing in something that is established with great potential over the long haul. Increasing volume says it's not Somchai that has found a temporary home for his booze money.

Look what's happening with SET. More than 60% of 3Q earnings are disappointing, many stocks are at their 52-wk or even 2-3 year lows when SET was in the 12-1300s, and SET is still powering up. Meanwhile, some stocks with poor to scary numbers have shot up without any visible reasons. Even defensive stocks from earlier this year look to be overvalued and rising. Suggests to me a concerted effort to induce gambling fever as the mood of the day with artificial prices, and then a sharp stab at the wall to clean up a few more billions from the lower life forms.

Another 10% to BTC in a few days, 10k looking closer.

I hear you, and you just described the foundation of a bubble

I find it very interesting that people never learn from their mistakes, they keep doing the same shit over and over again

Bitcoin is the new Gold fever, and it goes up for all the wrong reasons

should people buy it ? it's their money, but I think morally that money will be better be spent on charity or better projects, than wasted on stupid fads

but people are idiots, can't teach monkeys new tricks when all they can do is eat their feces

Originally Posted by baldrick

butterfly - you do not realise how much you do not understand about blockchain tech - nothing like XML

Oh I do understand, it's you who doesn't have the tech depth to understand its real applications and if it can be successful

you are the typical brainwashed bubble follower, it's a state of mind, a bit like a sect or a religion, nothing until the end, when it's too late, will tell you how much you were wrong

that's why you will always stay a plumber,

and of course you do not know enough about XML and how much it was "revolutionary" then, you were still on your Gameboy then

Originally Posted by Dragonfly

and of course you do not know enough about XML

never enter an argument with the stupid - they will beat you with experience

and never once have I advised to buy bitcoin , which again shows your lack of comphrehension of the english language

just like drumpf , you think that if you say something then it must be tru

Originally Posted by Pattaya Plies

Aussies are lapping up on BTC.

There we are then, what better recommendation can one recieve.

Originally Posted by baldrick

and never once have I advised to buy bitcoin , which again shows your lack of comphrehension of the english language

nobody said you did,

but your claims are ludicrous, I am just addressing their flaws

if you want to spend all your money into BitCoins, nobody is stopping you

but think of the starving children while you are trying to strike it rich with a tech you have clearly demonstrated you know little about, how it works in the "real world" not the "imaginary" world you read in white papers and other marketing propaganda for bitcoins

you are clearly a religious zealot, and bitcoin is your god

Originally Posted by Dragonfly

you are clearly a religious zealot, and bitcoin is your god

Clearly Butters you have not done your due diligence on the subject.
Admittedly Bitcoin can be a bit challenging for the technically challenged. I admit it took me considerable research to really understand what it is.

The whole concept of bitcoin is something the world has never seen before, and the technology now exists that puts in the hands of nearly everyone.
The enormous opportunity this presents is honestly quite breathtaking, make not mistake about that!

Here's a funny one
RIP Bitcoin!

Link to the original post:

https://www.reddit.com/r/Bitcoin/com...e_here_to_beg/

I am sending this message from the year 2025. Things are looking bleak here, and some of you will carry blood on your hands.
If you don't believe me, please move on, as I have no way of proving to you I'm really who I claim to be.
I don't want to waste any of your time, so I'm merely going to explain what happened.

On average, every year so far, the value of Bitcoin has increased by about a factor ten. From 0.1 dollar in 2010, to 1 dollar in 2011, to 10 dollar in 2012, to 100 dollar in 2013. From now on, there's a slight slowdown, as the value increased by a factor ten every two years, to 1,000 dollar in 2015, to 10,000 in 2017, 100,000 in 2019, and 1,000,000 in 2021. From here onwards, there's no good way of expressing its value in dollars, as the dollar is no longer used, nor is any central bank issued currency for that matter. There are two main forms of wealth in today's world. Land and cryptocurrency.
There are just over 19 million Bitcoin known to be used in the world today, as well as a few hundred thousand that were permanently lost, and we're still dealing with a population of just over 7 billion people today. On average, this means the average person owns just under 0.003 bitcoin. However, due to the unequal distribution of wealth in my world, the mean person owns just 0.001 bitcoin. That's right, most of you reading this today are rich. I personally live next to an annoying young man who logged into his old Reddit account two years ago and discovered that he received a tip of 0.01 Bitcoin back in 2013 for calling someone a "faggot" when he was a 16 year old boy. Upon making this discovery he bought an airline ticket, left his house without telling anyone anything and went to a Citadel.

"What is a Citadel?" you might wonder. Well, by the time Bitcoin became worth 1,000 dollar, services began to emerge for the "Bitcoin rich" to protect themselves as well as their wealth. It started with expensive safes, then began to include bodyguards, and today, "earlies" (our term for early adapters), as well as those rich whose wealth survived the "transition" live in isolated gated cities called Citadels, where most work is automated. Most such Citadels are born out of the fortification used to protect places where Bitcoin mining machines are located. The company known as ASICminer to you is known to me as a city where Mr. Friedman rules as a king.

In my world, soon to be your world, most governments no longer exist, as Bitcoin transactions are done anonymously and thus most governments can enforce no taxation on their citizens. Most of the success of Bitcoin is due to the fact that Bitcoin turned out to be an effective method to hide your wealth from the government. Whereas people entering "rogue states" like Luxemberg, Monaco and Liechtenstein were followed by unmanned drones to ensure that governments know who is hiding wealth, no such option was available to stop people from hiding their money in Bitcoin.
Governments tried to stay relevant in my society by buying Bitcoin, which just made the problem worse, by increasing the value of Bitcoin. Governments did so in secret of course, but my generation's "Snowdens" are in fact greedy government employees who transferred Bitcoin to their own private account, and escaped to anarchic places where no questions are asked as long as you can cough up some money.

The four institutions with the largest still accessible Bitcoin balance are believed to be as following:
-ASICminer - 50,000 Bitcoin
-The IMF's "currency stabilization fund" - 70,000 Bitcoin
-Government of Saudi Arabia - 110,000 Bitcoin
-The North Korean government - 180,000 Bitcoin

Economic growth today is about -2% per year. Why is this? If you own more than 0.01 Bitcoin, chances are you don't do anything with your money. There is no inflation, and thus no incentive to invest your money. Just like the medieval ages had no significant economic growth, as wealth was measured in gold, our society has no economic growth either, as people know their 0.01 Bitcoin will be enough to last them a lifetime. The fact that there are still new Bitcoin released is what prevents our world from collapse so far it seems, but people fear that the decline in inflation that will occur during the next block halving may further wreck our economy.

What happened to the Winklevoss twins? The Winklevoss twins were among the first to die. After seeing the enormous damage done to the fabric of society, terrorist movements emerged that sought to hunt down and murder anyone known to have a large balance of Bitcoin, or believed to be responsible in any way for the development of cryptocurrency. Ironically, these terrorist movements use Bitcoin to anonymously fund their operations.
Most people who own any significant amount of Bitcoin no longer speak to their families and lost their friends, because they had to change their identities. There have been also been a few suicides of people who could not handle the guilt after seeing what happened to the bag-holders, the type of skeptical people who continued to believe it would eventually collapse, even after hearing the rumors of governments buying Bitcoin. Many people were taken hostage, and thus, it is suspected that 25% percent of "Bitcoin rich" actually physically tortured someone to get him to spill his password.

Why didn't we abandon Bitcoin, and move to another system? Well, we tried of course. We tried to step over to an inflationary cryptocurrency, but nobody with an IQ above 70 was willing to step up first and volunteer. After all, why would you voluntarily invest a lot of your money into a currency where you know your wealth will continually decline? The thing that made Bitcoin so dangerous to society was also what made it so successful. Bitcoin allows us to give into our greed.
In Africa, surveys show that an estimated 70% of people believe that Bitcoin was invented by the devil himself. There's a reason for this. It's a very sensitive issue that today is generally referred to as "the tragedy". The African Union had ambitious plans to help its citizens be ready to step over to Bitcoin. Governments gave their own citizens cell phones for free, tied to their government ID, and thus government sought to integrate Bitcoin into their economy. All went well, until "the tragedy" that is. A criminal organization, believed to be located in Russia, exploited a hardware fault in the government issued cell phones. It's believed that the entire continent of Africa lost an estimated 60% of its wealth in a period of 48 hours. What followed was a period of chaos and civil war, until the Saudi Arabian and North Korean governments, two of the world's major superpowers due to their authoritarian political system's unique ability to adapt to the "Bitcoin challenge", divided most African land between themselves and were praised as heroes by the local African population for it.

You might wonder, what is our plan now? It's clear that the current situation can not be sustained, without ending in a nuclear holocaust. I am part of an underground network, who seek to launch a coordinated attack against the very infrastructure of the Internet itself. We have at our disposal about 20 nuclear submarines, which we will use to cut all underwater cables between different continents. After this has been successfully achieved, we will launch a simultaneous nuclear pulse attack on every densely population area of the world. We believe that the resulting chaos will allow the world's population to rise up in revolt, and destroy as many computers out there as possible, until we reach the point where Bitcoin loses any relevance.
Of course, this outcome will likely lead to billions of deaths. This is a price we are forced to pay, to avoid the eternal enslavement of humanity to a tiny elite.

This is also the reason we contacted you.

It doesn't have to be like this. You do not have to share our fate. I don't know how, but you must find a way to destroy this godforsaken project in its infancy. I know this is a difficult thing to ask of you. You believed you were helping the world by eliminating the central banking cartel that governs your economies.

However, I have seen where it ends.

Better deals available.

Originally Posted by Mr Earl

Clearly Butters you have not done your due diligence on the subject.
Admittedly Bitcoin can be a bit challenging for the technically challenged. I admit it took me considerable research to really understand what it is.

The whole concept of bitcoin is something the world has never seen before, and the technology now exists that puts in the hands of nearly everyone.
The enormous opportunity this presents is honestly quite breathtaking, make not mistake about that!

clearly you are drinking the Kool Aid, and have joined a sect

the original white paper was a joke,

and the technology behind it is a complete joke that can only appeal to those who have no education or basic economic skills

Bitcoins and friends are a scam, and people behind them are scammers in the majority, the others are just dreamers

Originally Posted by Dragonfly

clearly you are drinking the Kool Aid, and have joined a sect

the original white paper was a joke,

and the technology behind it is a complete joke that can only appeal to those who have no education or basic economic skills

Bitcoins and friends are a scam, and people behind them are scammers in the majority, the others are just dreamers

The obvious bubbles are fiat currencies with no accoutability.
The Keynesian economic model is clearly unsustainable and is the obvious scam, as we've seen numerous fiat bubbles burst with only elite fraudster/banksters profiting

Originally Posted by Mr Earl

The Keynesian economic model is clearly unsustainable and is the obvious scam, as we've seen numerous fiat bubbles burst with only elite fraudster/banksters profiting

we are no longer in a Keynesian model, that said, the system is definitely flawed and bubbles do happen

you are jumping from one fry pan to the next, that's how desperate you guys are

looking for an alternative when there is none, like refugees leaving Syria for a better future on the other side of the sea

I don't like bitcoin because I didn't make any money off it.

Originally Posted by YourDaddy

I don't like bitcoin because I didn't make any money off it.

$8300.00 this morning. if you'd held on to your Bitcoin you would be happy, I can guarantee that...

Originally Posted by Dragonfly

we are no longer in a Keynesian model, that said, the system is definitely flawed and bubbles do happen
so what do you call printing fake fiat money to stimulate the economy? It sure ain't Austrian economics...
you are jumping from one fry pan to the next, that's how desperate you guys are

looking for an alternative when there is none, like refugees leaving Syria for a better future on the other side of the sea

It is obvious ya really don't understand what is going on, on many levels it seems.

Here's a link to give you a clue about the global distribution of Bitcoin nodes and how it works.
https://bitnodes.earn.com

Originally Posted by Mr Earl

if you'd held on to your Bitcoin you would be happy,

I suggest we should have a bitcoin party

I will order in a cattle truck of starving refugees and everyone can bring their favourite baby seal and we can whoop and laugh as we use the baby seals to club starving children to death

I have tried several half-arsed attempts to understand all this bitcoin marlarky but failed. Because maths. And because I'm shit at it.

^Been tempted, but seems to have a slight whiff of Ponzi about it.

Can't see it being a Ponzi, which demands an unsustainable number of subscribers to fuel growth. Basically, there are only so many BTC in existence, a specified number 'mined' each year and when it reaches 21 million in 2140 the 'plates' will auto self-destruct to prevent further mining. It's far more complicated than that and way beyond me, but the concept and processes seem to be so well considered that this may be why it took off in the first place.

As one writer put it: I am skeptical that there will only ever be 21 million coins. I don't know of many instances in history when money could be created out of thin air and wasn't. It is foolish to ignore history. Whether or not there will be more than 21 million coins depends on whether or not "the people" demand it, and history is our guide."

Paraphrasing another: The 21 million limit is game theory. If say a group of miners used code to increase the limit or rate of production, this would harm the integrity of bitcoin and crash the price. So if any group could do it this is the motivation not to do so unless their aim is to crash the price or destroy the currency.

7 years ago you could stock up at $0.08; now $8k. No science, it's value is rising much like any supply/demand market, because more people are chasing a finite supply.