Thread: RIP Bitcoin

Originally Posted by YourDaddy

You gotta be a complete idiot not to sell on this news.

Originally Posted by uncle junior

^^^ judging by the graph, looks like ETH will either continue to or fall or go up

My money is on that!!!

Have you ever considered starting your own hedge fund?

I'm just saying because I think you pretty much have it nailed down.

From what I've been told the ether evaporates and all that's left is golden.


But I'm no Scientologist, what the hell do I know.

You gotta be a complete idiot not to sell on this news.

My gamble investment is worth so little right now that there is no point in selling. If it increases in value in the next 5 years then good news

Originally Posted by YourDaddy

You gotta be a complete idiot not to sell on this news.

Bitcoin doesn't rely on Facebook or Google.

If anything in addition to their ongoing censorship, actions like this only bring more positive attention to BTC.

Expect to see more and more decentralized social media and browser search engine action.

I quit using Google search a while ago, and am using Brave browser more and more. Screw these big centralized corporate arseholes.

Originally Posted by Mr Earl

Bitcoin doesn't rely on Facebook or Google.

It's bubble value has been partly caused by mainstream publicity. Hopefully it'll die back to being a currency instead of a speculation craze.

Originally Posted by Richards

It's bubble value has been partly caused by mainstream publicity. Hopefully it'll die back to being a currency instead of a speculation craze.

True enough, but mainstream adoption has barely begun.
Adoption will grow as Bitcoin evolves and adapts to the market.
The price will inevitably increase exponentially as people understand what it represents.

Originally Posted by Mr Earl

The price will inevitably increase exponentially as people understand what it represents.

It could well go the other way , when people realise that a Bitcoin doesnt exist

Originally Posted by Mr Earl

True enough, but mainstream adoption has barely begun.
Adoption will grow as Bitcoin evolves and adapts to the market.
The price will inevitably increase exponentially as people understand what it represents.

I don't believe so. Its finite circulation quality makes it impractical. Who is going to want to price supermarket items at 0.0000000001 of a bitcoin?

Originally Posted by Richards

I don't believe so. Its finite circulation quality makes it impractical. Who is going to want to price supermarket items at 0.0000000001 of a bitcoin?

You can believe what you want.
Bitcoin will have company, like ETH, LTC, DASH, XMR, ZEC, all with specific purposes and applications. Supermarkets may well evolve their own coin to solve consumer divisibility issues. They will all ride along on the bitcoin network.

There may well evolve little local currencies for neighborhood markets and such. But that doesn't mean Bitcoin will disappear anytime soon.

A good way of looking at Bitcoin as the Internet of money, which it is.

Originally Posted by Mr Earl

They will all ride along on the bitcoin network.

earl, i asked you before: do you think that other cryptos use the bitcoin blockchain?

Originally Posted by Richards

Who is going to want to price supermarket items at 0.0000000001 of a bitcoin?

A satoshi is 1⁄100000000 of a BTC.


So when BTC hits $1,000,000 in 2022, a can of beans will cost $1 or, wait a minute...




Damn, haven't got enough fingers n toes.




Something satoshi.


It's all sound bud.

Jing jing.

Bitcoin obviously runs on it's own network, with the others tagging along close behind on their own less decentralized (less secure) networks.
Many use the same open source code on their own specific chains, mining seems is some cases interchangeable depending on profitability.
As already mentioned Bitcoin is the leader and the some of the others also have a place in the hierarchy.

Originally Posted by Luigi

A satoshi is 1⁄100000000 of a BTC.


So when BTC hits $1,000,000 in 2022, a can of beans will cost $1 or, wait a minute...




Damn, haven't got enough fingers n toes.




Something satoshi.


It's all sound bud.

Jing jing.

and: against all odds, it could happen.

at least luigi is rolling with the punches (one of the hodlers).

other hodlers need to drop the attitude, IMO, that they are the skilled, knowledgeable traders in cryptos that will go to the moon.

and: those chart traders and momentum traders are just foolish.

let's be honest: we don't know where this will go; we can only make educated guesses about who the "fools" will be in the end.

Originally Posted by Farangrakthai

and: against all odds, it could happen.

at least luigi is rolling with the punches (one of the hodlers).

other hodlers need to drop the attitude, IMO, that they are the skilled, knowledgeable traders in cryptos that will go to the moon.

and: those chart traders and momentum traders are just foolish.

let's be honest: we don't know where this will go; we can only make educated guesses about who the "fools" will be in the end.

Actually the odds are for Bitcoin.
Bitcoin has weathered many a FUD and other attacks, has evolved and shined through the latest scaling/fee stresses
Smart money is on BTC to emerge as the global gold standard of crypto.
I'm buying as much as I can right now while the prices are still pretty low.

New technologies will likely emerge, which Bitcoin could easily adopt.

Originally Posted by Mr Earl

I'm buying as much as I can right now while the prices are still pretty low.

earl: koreans and chinese and teens in america were buying it when it went to 20,000, among others.

the asians left trading it, IMO, are savvy tech chart traders.

earl: when you look at this chart, how do you think anyone can be bullish, pray tell?

Originally Posted by Farangrakthai

earl: when you look at this chart, how do you think anyone can be bullish, pray tell?

and for those who've never looked at charts (technicals).

think of it as a map of you driving your car around the city (it's a map of where you've been).

Originally Posted by AntRobertson

Originally Posted by baldrick

does anyone think we are touching bottom yet ?
is it the full bombatta ?
or just a dimple in the luscious expanse of the derriere as it curves down toward the event horizon ?

10-03-2018, 09:22 AM

Dunno. I’ll need to look at a bunch of charts and graphs and some chicken entrails to see if I can’t divine some sort of pattern before making a definitive statement that it could be going up.

Or down.

well, baldrick is a hodler (fair enough).

how about you, ant?

still holding?

Originally Posted by Plan B

Is the Bitcon fairy gonna sprinkle some magic blockchain dust that makes Bitcon infinitely scalable?
Do you know the technical limitations of your energy unfriendly coin?


A good way of looking at BTC is as being like Napster. It was groundbreaking in innovation and had a lot of street cred because it stood up to 'the man'. Sadly it's inability to play well with others in actual reality outside the internet means it's dead and all the cool kids are now using Spotify and saying "Napster, who?".

Bitcoin seems to be able to meet the various challenges it has met so far (scaling, fees, FUD).

Bitcoin could be seen as an evolution of Napster, there is no Satoshi Nakamoto to arrest and jail, there are no CEO's to prosecute, there are no head offices to invade and seize.

As far as energy, compared to wasteful government and banking schemes, Bitcoin is very efficient and the energy technologies are becoming more efficient all the time. Today's miners are putting out 14.5 TH for the same electricity 8 TH miners were working at just a couple of years ago. Efficiency advances are poised to change again soon.
Other than the regular market downturn volatility Bitcoin ain't going nowhere but up.

The city of Plattsburgh, New York announced on Thursday that it is temporarily banning the commercial mining of cryptocurrency for 18 months.

It turns out that commercial cryptocurrency mining operations used up so much electricity that the city of Plattsburgh exceeded its allotted monthly budget of electricity. One single cryptocurrency mining operation called Coinmint used up around 10% of the city's allotted power supply alone in January and February, according to Motherboard.

For the first time, a US city has banned cryptocurrency mining | Markets Insider