Thread: RIP Bitcoin

Originally Posted by Ukan Kizmiaz

maybe the time is coming to buy a few

just no

unless you have some bags from when you were mining in 2014 , then those bags are what you will be buying - the amount of dodge in existence is rather large and the supply was designed to be infinite

it is a meme coin for suckers

Originally Posted by baldrick

it is a meme coin for suckers

It got added by Flare networks defi. That gave it some legitimacy. Good timing by that team to jump on it just as the likes of Robin Hood and other investor apps 'for the working class' started banning trading of certain stock. The promise of a decentralised trading app that can't be controlled by the powers that be has suddenly become interesting.

I'm going to buy 3 to $5000 worth of Bitcoin on the next pullback. I'll screenshot it on this thread

Then you'll know that Bitcoin is over. I'm always at the wrong place at the wrong time. Im not one of the chosen ones. Chances are , neither are you.

Originally Posted by Backspin

I'll screenshot it on this thread

no - first rule of crypto is not to tell anyone how much you own

or really the first rule is to back up your personal wallet seed on paper

further to the question

this is not just for backspit , but if other members decide to buy crypto now

first you need to get your dollars/pesos to an exchange where you will have to do the KYC requirements - ID , selfie which is usually you holding a piece of paper with the exchange name , date and signature

stick with the big exchanges , coinbase , binance , bitrex , kraken , litebit etc - dodgy exchanges like to fuck you up

when you buy , instead of buying all in one hit and worrying if the price will drop after your purchase , buy a third first , wait a day and buy another third and then decide whether you will then purchase with the rest of your pesos

the next step is to install a personal wallet on your computer - the most important part of this is to note down the pass phrase when you create the wallet - easiest is on paper - people lose their crypto all the time when their computer fails and they do not have the pass phrase / passwords and are unable to re create the wallet

when you send from the exchange to your private wallet , do a couple of small test sends first to make sure you have go everything right with your addresses

Originally Posted by Backspin

I'm going to buy 3 to $5000 worth of Bitcoin on the next pullback. I'll screenshot it on this thread

Then you'll know that Bitcoin is over. I'm always at the wrong place at the wrong time. Im not one of the chosen ones. Chances are , neither are you.

Don't need a screenshot, if someone disbelieves it doesn't affect your holding, but what's your buy in price? $5k gets you around 0.13 btc, doesn't look like much but will give you a better % return than gold.

Next question: why are you buying into what you described as a ponzi scheme?

Originally Posted by jabir

Next question: why are you buying into what you described as a ponzi scheme?

backspit is a beta simp cuck or some such and that is what they do

Originally Posted by jabir

$5k gets you around 0.13 btc, doesn't look like much but will give you a better % return than gold.

i get that bitcoin has your panties all wet...but the fact of the matter is that you don't know his buy in price or his time horizon....as well as the predicting the future aspect....how can you say it will give a better % return than gold?

hint: you can't.

Originally Posted by raycarey

i get that bitcoin has your panties all wet...but the fact of the matter is that you don't know his buy in price or his time horizon....as well as the predicting the future aspect....how can you say it will give a better % return than gold?

hint: you can't.

what's your buy in price? $5k gets you around 0.13 btc

Yes you're right, slipped my mind this is TD, and for our slower thinkers and grammar nazis, I should have posted "$5k WILL get you around x.xx if it drops/rises, but if you buy right now at the current price $5k gets you around 0.13 btc, and Ray wants me to be clear that if the price doubles before you buy then you'll get double that."

next...

Originally Posted by Bogon

Why not buy $4k of 4 different shares with $1k held as cash

20% of play money spread far and wide isn't a bad option. (As well as being fun.)

As the DOGE jump last week showed.

Something small can happen that makes one jump xxx% in a day.

Originally Posted by Edmond

20% of play money spread far and wide isn't a bad option. (As well as being fun.)

As the DOGE jump last week showed.

Something small can happen that makes one jump xxx% in a day.

Not for me, I got burned by shitcoins early on and now staying with the A team, but the alt season seems to be picking up, healthy market there with tons of scope for fast and massive profit, from a quick double up to 100x if you pick the right one at the right time and let go when it peaks.

But noobs are competing against insiders with intimate knowledge of the coins and the system, creators, programmers, traders, flippers, VIPs, early and privileged investors, and that's a lot of people sharing the loot left behind by the less experienced and unconnected.

Hey Ray, I was hoping to say by Jove you got it, but you didn't did you, overwhelmed by envy and self pity, that's who you are, rummaging in the trash for something to use to round off your bitter existence with a dig, when all you had to do was read that whopping great blunder I left, just for you.

Coulda done wonders for your self esteem, a legitimate poke, a first, to comp for your sad life; but as usual you're too busy looking down to look up. Not too late, impress your fans by saying you spotted it right away but couldn't fit a response into your busy schedule.

Meh!

Originally Posted by jabir

overwhelmed by envy

^
Hmm, it's clearly illegal otherwise he wouldn't have been jailed, but I'm not sure how serious an offence it is to use the spare computing power of hacked phones to mine bitcoin, if the software does not otherwise damage the phone and victims do not tangibly lose out. Ok, it's serious enough for a jail sentence, that's good enough.

It's this bit the prosecutors should be embarrassed to claim:

Despite being unable to repossess the criminal’s ill-gotten gains, prosecutors have ensured that the man will be unable to access them himself by blocking the account, leaving his bitcoins permanently stranded in an inaccessible wallet.

The wallet/account is not blocked; they cannot 'block' his wallet to prevent him from accessing it; if they could, btc would die tomorrow and our mate Ray would wank himself into the madhouse. Having done his time, best they could do to prevent him benefitting from the crime proceeds, is to make repeated attempts at the PIN/passcode until the limit is reached and the device resets thereby locking him out so that the muppets at HO could boast a victory in ignorance; even so, the courts would need to rule on the legality of such action.

And then of course, so what if they 'block' his wallet by making it inaccessible? Does anyone believe someone savvy enough to infect phones with mining software, and to actually mine btc, would not know enough about wallets to keep their recovery passcode in a safe place? (see: post *8385)

This guy has it easy, dealing with prosecutors that know the law but not how crypto works; bit pointless, but they seem happy, and he'll be chuckling all the way home.

Why woudln't this get a bid ? The more ridiculous the better these days. I am serious. It has a more substantive prospectus than Doge coin. The main reason for fuckcoin was so that the founder could say "fucks will be given" on ICO day

Elon has been hitting the wacky backy yet again.

Tesla announces a $1.5 billion buy of BTC and the whole market jumps. Dogecoin makes it into top ten just because Elon also tweets about it. Absolute madness. Nothing rational in this space.

Schiff (ponzi), Buffet (rat poison), and several other prominent and eloquent critics have been quiet lately.

Pet vulture says 'possible' second chance to enter as it pauses to consolidate, next stop in the 50s, and the higher it goes the more institutional funds will accelerate, not just money that's already being shifted but new blood as cash rich CEOs and fund managers are pressured by investors demanding to know why they're still on the sidelines.

Don't forget that throwaway line, that the Fed has infinite money. So what happens when later this year the consequences of manic debt, exhausted printing presses, and euphoria lifting markets to unrealistic and unsustainable levels begin to filter through? Probably won't be pretty, because the big knees generally jerk toward short term relief for long term pain, which is likely to result in more debt and more fiat with less buying power.

Would be hysterical, if not the unfolding tragedy that many small people are going to be hurt, again.

I love Elon.

50k by the end of the week.... day.... hour?

^ how was samui ?

Originally Posted by Plan B

Elon has been hitting the wacky backy yet again.

Tesla announces a $1.5 billion buy of BTC and the whole market jumps. Dogecoin makes it into top ten just because Elon also tweets about it. Absolute madness. Nothing rational in this space.

Musk is setting himself up to be the first $ trillionaire. Not so much that he wants more money than anyone else, but it takes a lot of it to fulfil his many ambitious visions.

His comments on DOGE are a fun poke at a joke coin, while his real interest is btc which he confirmed in his interview last week; he's a leader, and it should be no surprise that others are following.