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Thread: RIP Bitcoin

  1. #576
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    Quote Originally Posted by YourDaddy View Post

    Well, the problem with Bitcoin is that with all the trading and money leaving China restrictions, the peasants can at least speculate in digital currency. This is why I think Bitcoin can still go to the moon.
    There's an adage in trading that market charts simply chart human emotion. Bitcoin will probably rise higher, but inevitably eventually fall because it has no fundamental value except, as you have stated, as an instrument for money to leave China. And other transfers, of course....but there is no real fundamental value.

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    ^

    Kinda wrong. The fundamental value is the mathimatical security, accountability and the fact greedy sleazebag war mongering government has no control.

    Bitcoin makes central government obsolete.

  3. #578
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    I see your point. And those facts will take it higher. But it's not like mineral wealth, or a company with physical assets, or a currency which is traded.

  4. #579
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    Quote Originally Posted by Luigi View Post
    For a bit of fun I'll send you Lulu-not-a-clueclue's prediction for end of Dec 2017 and Dec 2018 in a repo, will screenshot it and post it up when the time comes no matter how wrong they are.
    Looks like I'm not allowed to send repo anymore.

    $12,000 at the end of Dec. 2017.
    $20,000 at the end of Dec. 2018.




  5. #580
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    I've pulled out of 50% of my cryptos, mainly bitcoin, I think prices will deflate a fair bit, if I am right I will buy back in when bitcoin reaches $5-6000.
    If not a lot of good cryptos are down, so there are still some bargains.

  6. #581
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    Quote Originally Posted by Latindancer View Post
    I see your point. And those facts will take it higher. But it's not like mineral wealth, or a company with physical assets, or a currency which is traded.
    A good well managed well designed block chain will be in demand, depending on it's utility, the block chain requires some form of gas to power it and that will be the block chain 'currency'. The more utility the block chain possesses the more valuable it's currency.

  7. #582
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    OOO not followed Bitcoin a while, some progress there...

    [COLOR=#878787 !important]1 Bitcoin equals[/COLOR]
    [COLOR=#212121 !important]9630.97 US Dollar[/COLOR]

  8. #583
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    Quote Originally Posted by Latindancer View Post
    There's an adage in trading that market charts simply chart human emotion. Bitcoin will probably rise higher, but inevitably eventually fall because it has no fundamental value except, as you have stated, as an instrument for money to leave China. And other transfers, of course....but there is no real fundamental value.
    of course it has no fundamental value, it's a get away card for criminals

    you don't build an economy with that core principle,

  9. #584
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    Quote Originally Posted by Mr Earl View Post
    ^

    Kinda wrong. The fundamental value is the mathimatical security, accountability and the fact greedy sleazebag war mongering government has no control.

    Bitcoin makes central government obsolete.
    that's not fundamental, that's pipe dream

    it's like saying a Tulip has fundamental value because it can blossom and it's organic

  10. #585
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    A scam without portfolio managers is a plus...

  11. #586
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    ^the mathematics are quite real; military cryptography, practically unhackable. It costs more computing power to hack bitcoin than is does to mine it honestly.

    Comparing Bitcoin to Tulips is about as retarded as when Paul Krugman compared the Internet to a fax machine.

    Except the whole Bitcoin concept is even bigger than the Internet, and the decentralized computing network it represents is quite awesome.

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    Quote Originally Posted by Latindancer View Post
    I see your point. And those facts will take it higher. But it's not like mineral wealth, or a company with physical assets, or a currency which is traded.

    Precious metals are a liability nowadays. Governments can and do seize peoples gold.

    As far as physical assets Bitcoin represents the most powerful global computing network the world has ever seen.

    Bitcoin might not be physical other than the contained cryptographic algorithm, but it's physical value as global transfer vehicle is very apparent to anyone with a handheld android or Iphone.

  13. #588
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    @ Mr Earl

    Set me up with a Exodus Wallet and send me 0.02 BTC

  14. #589
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    ^Why?

    Are ya offering your pussy?

  15. #590
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    Quote Originally Posted by Mr Earl View Post
    ^Why?

    Are ya offering your pussy?
    If the system works as you say it does then no issue and I'll refund the sent funds.

  16. #591
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    ^ But I already know it works...

  17. #592
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    That auld chestnut

  18. #593
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    Quote Originally Posted by Pattaya Plies View Post
    I'm sitting on cash and no cnut can hack that.
    Tell that to the Zimbabwean guy using a 20 trillion dollar note to buy bread.

  19. #594
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    Quote Originally Posted by Dragonfly View Post
    a Tulip
    stick to fluffing butterfly

    as soon as anyone uses the tulip comparison then they have shown themselves to be just regurgitators of drivel and have no understanding of what really happened during the tulip mania

    bitcoin is not used like options to purchase tulips were - read your history efore spouting such uninformed rubbish

    https://stratechery.com/2017/tulips-...ptocurrencies/
    Five Reasons Why Bitcoin Is Not a Bubble - Nasdaq.com
    https://seekingalpha.com/article/4115817-comparing-bitcoin-tulip-mania-scared


    Set me up with a Exodus Wallet
    if you cannot set up an exodus wallet you should not be on the internet

  20. #595
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    Quote Originally Posted by Mr Earl View Post
    practically unhackable
    Its being hacked all over the place. Being stolen left and right. There is clearly an issue with secure storage, I'm not gonna claim to know every detail but a simple google search gives plenty of reading material

    Quote Originally Posted by Mr Earl View Post
    It costs more computing power to hack bitcoin than is does to mine it honestly.
    Not really. Just a password to someone's wallet procured through a simple phishing scam should about cover it. No different than any other thing people steal in that sense.

  21. #596
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    Quote Originally Posted by Mr Earl View Post
    ^the mathematics are quite real; military cryptography, practically unhackable. It costs more computing power to hack bitcoin than is does to mine it honestly.
    so you want to monetize a crypto algo by making a currency out of it ? how retarded is that ?

    maybe we could make a JavaScript algo a currency, or even better a HTML page to be currency

    Quote Originally Posted by baldrick View Post
    stick to fluffing butterfly

    as soon as anyone uses the tulip comparison then they have shown themselves to be just regurgitators of drivel and have no understanding of what really happened during the tulip mania

    bitcoin is not used like options to purchase tulips were - read your history efore spouting such uninformed rubbish

    https://stratechery.com/2017/tulips-...ptocurrencies/
    Five Reasons Why Bitcoin Is Not a Bubble - Nasdaq.com
    https://seekingalpha.com/article/4115817-comparing-bitcoin-tulip-mania-scared

    if you cannot set up an exodus wallet you should not be on the internet
    QED, the retards are in full denial

  22. #597
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    Quote Originally Posted by baldrick View Post
    Five Reasons Why Bitcoin Is Not a Bubble - Nasdaq.com
    That article was written by "bitcoin magazine".

    Here's the thing: When your grocery bagger is talking about his bitcoin investment, fair to say that it might be time for some skepticism. All these people flocking into bitcoin are gonna run like sheep once the shit hits the fan. They aren't the same type of investors as bitcoin has had in the past. They don't believe in bitcoin, they believe in money. They will run like a herd of sheep during a sharp enough correction.

    Let's see whether the bitcoin system even has the liquidity to handle such a run. I think some of these exchanges are on borrowed time and borrowed money. Things could get ugly real quick, and runs on currency that can't be delivered is a potential price disaster in the making.

    Bottom line/the way I see it: Nothing lasts forever, and this is most certainly a bubble. I don't even think that's debatable at this point. Now whether the bubble is fully inflated yet...who the hell knows. But to say it isn't a bubble when its rising by 700% in a year or whatever it is, that's totally absurd. All these people celebrating this push into the mainstream are going to see what happens when mass panic sets in among investors who don't know the first thing about bitcoin, or even care in the first place.

  23. #598
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    Quote Originally Posted by longway View Post
    I've pulled out of 50% of my cryptos, mainly bitcoin, I think prices will deflate a fair bit, if I am right I will buy back in when bitcoin reaches $5-6000.
    If not a lot of good cryptos are down, so there are still some bargains.

    Pretty hard to see the rational behind bailing outa BTC at this time, with all the positive activity in the big big biggly financial world.

    We are never going to see $5-6000 bitcoin again.

    We will see some short dips during the next 6 months, where ya wanna buy more, not sell!

    Three years from now BTC will be $500K! That be gospel of the usd collapse.

  24. #599
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    Mr. Earl says it's trustworthy and Soi 4 reckons I should not be on the web.

    Not your normal run of the mill promoters.

  25. #600
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    Quote Originally Posted by Mr Earl View Post
    Pretty hard to see the rational behind bailing outa BTC at this time, with all the positive activity in the big big biggly financial world.
    These people don't believe in the product and they aren't accostomed to the price swings that bitcoin investment entails. I think this is going to be how bitcoin falls. Not saying it won't rise first, even for a good little bit, but this is not the good news for bitcoin prices that many people are thinking it will be....

    Quote Originally Posted by Mr Earl View Post
    Three years from now BTC will be $500K! That be gospel of the usd collapse.
    That is just absolutely delusional

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