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RE: The Bitcoin Thread (price and other bitcoin related topics) - JayJuanGee - 10-22-2019

(10-22-2019, 08:20 AM)Swordfish1010 Wrote: Also jjg, in regards to traveling, the fold app is adding Airbnb soon. Stack sats while traveling!

I had not heard of Fold, but I had heard about Lolli, and I suppose that they are similar kinds of apps that allow for the spending of fiat but getting change and/or rewards in bitcoin.. 

Whether traveling or not, it is probably not a bad thing to attempt to incorporate some of these liquidation and/or earning of bitcoin mechanisms into spending habits.. ... especially if you are going to spend anyhow, but the apps do not necessarily force you to spend bitcoin but instead to earn it, and therefore giving you more discretion regarding when and/or if to spend it.


RE: The Bitcoin Thread (price and other bitcoin related topics) - Swordfish1010 - 10-23-2019

(10-22-2019, 08:49 PM)JayJuanGee Wrote:
(10-22-2019, 08:20 AM)Swordfish1010 Wrote: Also jjg, in regards to traveling, the fold app is adding Airbnb soon. Stack sats while traveling!

I had not heard of Fold, but I had heard about Lolli, and I suppose that they are similar kinds of apps that allow for the spending of fiat but getting change and/or rewards in bitcoin.. 

Whether traveling or not, it is probably not a bad thing to attempt to incorporate some of these liquidation and/or earning of bitcoin mechanisms into spending habits.. ... especially if you are going to spend anyhow, but the apps do not necessarily force you to spend bitcoin but instead to earn it, and therefore giving you more discretion regarding when and/or if to spend it.

fold is still beta invite only. it has amazon which is a game changer in itself. I'm a big fan.


RE: The Bitcoin Thread (price and other bitcoin related topics) - ChicagoFire - 10-24-2019

I have friends that say quantum computing is decades away. So far it's a pissing match between IBM and google.

https://www.zerohedge.com/technology/google-confirms-quantum-supremacy-completes-10000-year-calculation-200-seconds

"Quantum supremacy has raised concerns that the company will be able to crack the strongest encryption, including the blockchain. That said, ex-Bitcoin Core developer Peter Todd called the achievement a "primitive type of quantum computing that is nowhere near breaking cryptography."


RE: The Bitcoin Thread (price and other bitcoin related topics) - Swordfish1010 - 10-24-2019

(10-24-2019, 12:13 AM)ChicagoFire Wrote: I have friends that say quantum computing is decades away. So far it's a pissing match between IBM and google.

https://www.zerohedge.com/technology/google-confirms-quantum-supremacy-completes-10000-year-calculation-200-seconds

"Quantum supremacy has raised concerns that the company will be able to crack the strongest encryption, including the blockchain. That said, ex-Bitcoin Core developer Peter Todd called the achievement a "primitive type of quantum computing that is nowhere near breaking cryptography."

algorithms can evolve to protect against quantum computing breakthroughs. practical quantum computing is not really a thing yet though.


RE: The Bitcoin Thread (price and other bitcoin related topics) - SpecialEd - 10-24-2019

Bears seem to have their claws on the market.

$7400 yikes


RE: The Bitcoin Thread (price and other bitcoin related topics) - JayJuanGee - 10-24-2019

Here's an interesting graph of some bitcoin pre-history.

https://pbs.twimg.com/media/DyWz-XhX0AEm1EQ?format=png&name=small

[Image: DyWz-XhX0AEm1EQ?format=png&name=small]


RE: The Bitcoin Thread (price and other bitcoin related topics) - Swordfish1010 - 10-24-2019

(10-24-2019, 08:29 AM)SpecialEd Wrote: Bears seem to have their claws on the market.

$7400 yikes

Just shows how misunderstood it still is. Congress coming down on Zuck over libra should be bullish for bitcoin, but most plebs think they are substitutes.


RE: The Bitcoin Thread (price and other bitcoin related topics) - Swordfish1010 - 10-24-2019

https://www.unchained-capital.com/blog/bitcoin-is-not-a-pyramid-scheme/

great read


RE: The Bitcoin Thread (price and other bitcoin related topics) - Swordfish1010 - 10-25-2019

https://mynodebtc.com/

turn your raspberry pi 3/4 into a full node/lightning for free. super easy


RE: The Bitcoin Thread (price and other bitcoin related topics) - JayJuanGee - 10-25-2019

A couple of weeks ago in this thread, I had provided a link to monitor BAKKT's trading volume, and in the last couple of days such BAKKT trading volume has really spiked

Here's BAKKT's daily BTC monthly futures contract volume update from yesterday, so you can monitor the number of BTC contracts that have been executed on a daily basis.

https://twitter.com/BakktBot/status/1187356577143107584?s=20

[Image: EHn9UqwWwAEZqrl?format=jpg&name=small]

You can see that yesterday's trading volume spiked to about 640 BTC traded and an equivalent of about $4.8 million.

So far today there is about 316 BTC contracts traded.

https://www.theice.com/products/72035464/Bakkt-Bitcoin-USD-Monthly-Futures-Contract/data?marketId=6137541&span=1


RE: The Bitcoin Thread (price and other bitcoin related topics) - JayJuanGee - 10-25-2019

Here's another neat way to think about the difficult period (psychologically and financially) that we are currently living within, in bitcoinlandia.

We have a very long period of time (2nd longest ever) in which there has not been any BTC all time high (in terms of price), which is about 676 days, and the longest period in BTC's history, so far, was 1,176 days between late 2013 and early 2017.


https://twitter.com/charliebilello/status/1187194172958236674


[Image: EHnCuWlWoAEI2vN?format=png&name=small]


RE: The Bitcoin Thread (price and other bitcoin related topics) - JayJuanGee - 10-25-2019

hahahahaha

Fuck the bitcoin naysayers, and the environmentalist who believe that bitcoin mining consumes too much energy

Apparently, based on ongoing all time high hashing power, bitcoin is consuming about 3x more energy than what was being consumed at BTC's December 2017 ATH, which largely means that bitcoin is becoming more and more and more secure, and probably that some of the BIGGER miners are attempting to take advantage of BTC's price drop to increase hashing power and to attempt to force out the weakest handed of the miners.

https://twitter.com/skew_markets/status/1187329255878860802

[Image: EHo9qePX0AA5Myi?format=jpg&name=small]

The tweet also asserts that it currently costs around $5,260 to mine a bitcoin, excluding costs of the equipment, and mining costs are expected to double within the year.  Accordingly, it is quite likely that a lot of the lower efficient miners are getting purged out of mining.


Here's a nice related tweet, too.

https://twitter.com/BitIRAOfficial/status/1187460026220400640?s=20

[Image: sBXx4r6f?format=jpg&name=small]

https://www.forbes.com/sites/investor/2019/10/23/the-bitcoin-halvening-is-coming/#5585b5ec13fd


RE: The Bitcoin Thread (price and other bitcoin related topics) - JayJuanGee - 10-25-2019

(10-24-2019, 08:12 PM)Swordfish1010 Wrote:
(10-24-2019, 08:29 AM)SpecialEd Wrote: Bears seem to have their claws on the market.

$7400 yikes

Just shows how misunderstood it still is. Congress coming down on Zuck over libra should be bullish for bitcoin, but most plebs think they are substitutes.

Yep.  

Of course, with our additional downward BTC price direction to make a new lower low from $7,714 to $7,293 (from a 44.5% retrace to 47.5% retrace), I would not be so sure about characterizing this as bears being in control, which would imply that we have transitioned from a bull market and back into a bear market - and markets, including bitcoin, do not tend to flop around that much.  

Sure, anything is possible in bitcoin, including flip flopping into a bear market.... but does not seem to be our current proper assessment.

It is difficult to recognize this current BTC price correction as anything more than just a bit more down and a bit more severe than expected, even when bitcoin often does these kinds of exaggerations and doing the unexpected.


Currently, we are in the midst of a bit of a blip of a bounce back and nearly touching on $7,777 (lucky numbers, no?), yet surely I am NOT going to be resting with any kind of semblance of confidence that our current correction bottom is in for this particular BTC price correction until we are safely above $8,666, which is more than a 15% rebound from our current bottom of $7,293.... usually a bit more than 10% would be a good enough rebound for me, but I prefer to error somewhat on the side of conservatism in my bitcoin cockiness when practicable.    Tongue Tongue


RE: The Bitcoin Thread (price and other bitcoin related topics) - Swordfish1010 - 10-25-2019

Rally rally rally


RE: The Bitcoin Thread (price and other bitcoin related topics) - JayJuanGee - 10-25-2019

(10-25-2019, 04:01 PM)Swordfish1010 Wrote: Rally rally rally

hahahahaha

Yeah.


Nice little short squeeze, and perhaps even something more sustainable.  Nice to see a decent number of cocky bears getting reckt when they had started bragging about their supposed shorts and sub $6k or $3k or lower targets, which yeah those targets may end up happening, but the bitcoin price dynamics scene is a lot less certain than being made out to be.  

Who gets the last laugh is still unclear, but surely buying and accumulating continues to seem to be a good thing, and there seemed to have been a bit of a closing of bargain basement bitcoin prices, and hopefully decent damaging of the bitcoin naysayers, fence sitters, no coiners and alt coin pumpers.  

I cannot see any ability to really rest with too much assurance at the moment in terms of the solidiness of this particular pump, especially when alt coins seem to be pumping similar amounts, and that seems to be unnecessary froth that preferably should be purged a bit more.... but who knows?  who knows?


RE: The Bitcoin Thread (price and other bitcoin related topics) - Swordfish1010 - 10-25-2019

(10-25-2019, 04:10 PM)JayJuanGee Wrote:
(10-25-2019, 04:01 PM)Swordfish1010 Wrote: Rally rally rally

hahahahaha

Yeah.


Nice little short squeeze, and perhaps even something more sustainable.  Nice to see a decent number of cocky bears getting reckt when they had started bragging about their supposed shorts and sub $6k or $3k or lower targets, which yeah those targets may end up happening, but the bitcoin price dynamics scene is a lot less certain than being made out to be.  

Who gets the last laugh is still unclear, but surely buying and accumulating continues to seem to be a good thing, and there seemed to have been a bit of a closing of bargain basement bitcoin prices, and hopefully decent damaging of the bitcoin naysayers, fence sitters, no coiners and alt coin pumpers.  

I cannot see any ability to really rest with too much assurance at the moment in terms of the solidiness of this particular pump, especially when alt coins seem to be pumping similar amounts, and that seems to be unnecessary froth that preferably should be purged a bit more.... but who knows?  who knows?

I love bears getting rekt. Imagine how dumb you have to be to short bitcoin with the current global macro space full of ideal shorts.


RE: The Bitcoin Thread (price and other bitcoin related topics) - JayJuanGee - 10-25-2019

(10-25-2019, 04:14 PM)Swordfish1010 Wrote:
(10-25-2019, 04:10 PM)JayJuanGee Wrote:
(10-25-2019, 04:01 PM)Swordfish1010 Wrote: Rally rally rally

hahahahaha

Yeah.


Nice little short squeeze, and perhaps even something more sustainable.  Nice to see a decent number of cocky bears getting reckt when they had started bragging about their supposed shorts and sub $6k or $3k or lower targets, which yeah those targets may end up happening, but the bitcoin price dynamics scene is a lot less certain than being made out to be.  

Who gets the last laugh is still unclear, but surely buying and accumulating continues to seem to be a good thing, and there seemed to have been a bit of a closing of bargain basement bitcoin prices, and hopefully decent damaging of the bitcoin naysayers, fence sitters, no coiners and alt coin pumpers.  

I cannot see any ability to really rest with too much assurance at the moment in terms of the solidiness of this particular pump, especially when alt coins seem to be pumping similar amounts, and that seems to be unnecessary froth that preferably should be purged a bit more.... but who knows?  who knows?

I love bears getting rekt. Imagine how dumb you have to be to short bitcoin with the current global macro space full of ideal shorts.

In a kind of ideal world, I would not mind a bit more of an unsustainable pump into the sub-$10k arena and challenging $10k resistance, perhaps, and surely that would not be sustainable, so maybe we would then get a correction back down to our current mid-$8k levels, but hey whatever, we should attempt to be prepared for anything, especially UP.  

So yeah, in that regard, it is not a bad thing to see some of the failure to take a stake folks getting reckt and also the folks who are betting on down or pushing for down to get reckt, too. 

Yeah, it gets scary as fuck when BTC prices are going down and correcting and there does not seem to be any really good reasons beyond the usual exaggerated bullshit, that is likely even less convincing to longer term BTC HODLers, while at the same time, bitcoin newbies and those without decently strong BTC convictions do have a tendency to give some (probably too much) credence to those negative scenarios and end up doing the opposite of what they should be doing.. either failing to buy, or worse, selling and waiting/hoping for still lower BTC prices... which to many of us seems unrealistic in both an already having had happened 45% BTC price correction and in what seems to be a bull market (yeah, no one believes that we could have close to a 50% BTC price correction in a bull market, but something quite similar has happened in bitcoinlandia's relatively short history on several previous occasions).


RE: The Bitcoin Thread (price and other bitcoin related topics) - Swordfish1010 - 10-25-2019

(10-25-2019, 04:27 PM)JayJuanGee Wrote:
(10-25-2019, 04:14 PM)Swordfish1010 Wrote:
(10-25-2019, 04:10 PM)JayJuanGee Wrote:
(10-25-2019, 04:01 PM)Swordfish1010 Wrote: Rally rally rally

hahahahaha

Yeah.


Nice little short squeeze, and perhaps even something more sustainable.  Nice to see a decent number of cocky bears getting reckt when they had started bragging about their supposed shorts and sub $6k or $3k or lower targets, which yeah those targets may end up happening, but the bitcoin price dynamics scene is a lot less certain than being made out to be.  

Who gets the last laugh is still unclear, but surely buying and accumulating continues to seem to be a good thing, and there seemed to have been a bit of a closing of bargain basement bitcoin prices, and hopefully decent damaging of the bitcoin naysayers, fence sitters, no coiners and alt coin pumpers.  

I cannot see any ability to really rest with too much assurance at the moment in terms of the solidiness of this particular pump, especially when alt coins seem to be pumping similar amounts, and that seems to be unnecessary froth that preferably should be purged a bit more.... but who knows?  who knows?

I love bears getting rekt. Imagine how dumb you have to be to short bitcoin with the current global macro space full of ideal shorts.

In a kind of ideal world, I would not mind a bit more of an unsustainable pump into the sub-$10k arena and challenging $10k resistance, perhaps, and surely that would not be sustainable, so maybe we would then get a correction back down to our current mid-$8k levels, but hey whatever, we should attempt to be prepared for anything, especially UP.  

So yeah, in that regard, it is not a bad thing to see some of the failure to take a stake folks getting reckt and also the folks who are betting on down or pushing for down to get reckt, too. 

Yeah, it gets scary as fuck when BTC prices are going down and correcting and there does not seem to be any really good reasons beyond the usual exaggerated bullshit, that is likely even less convincing to longer term BTC HODLers, while at the same time, bitcoin newbies and those without decently strong BTC convictions do have a tendency to give some (probably too much) credence to those negative scenarios and end up doing the opposite of what they should be doing.. either failing to buy, or worse, selling and waiting/hoping for still lower BTC prices... which to many of us seems unrealistic in both an already having had happened 45% BTC price correction and in what seems to be a bull market (yeah, no one believes that we could have close to a 50% BTC price correction in a bull market, but something quite similar has happened in bitcoinlandia's relatively short history on several previous occasions).

Bitcoin makes you anti-fragile. When bears laugh at you when you say buy the dip, they soon forget this when you're right. lol


RE: The Bitcoin Thread (price and other bitcoin related topics) - JayJuanGee - 10-25-2019

(10-25-2019, 05:06 PM)Swordfish1010 Wrote:
(10-25-2019, 04:27 PM)JayJuanGee Wrote:
(10-25-2019, 04:14 PM)Swordfish1010 Wrote:
(10-25-2019, 04:10 PM)JayJuanGee Wrote:
(10-25-2019, 04:01 PM)Swordfish1010 Wrote: Rally rally rally

hahahahaha

Yeah.


Nice little short squeeze, and perhaps even something more sustainable.  Nice to see a decent number of cocky bears getting reckt when they had started bragging about their supposed shorts and sub $6k or $3k or lower targets, which yeah those targets may end up happening, but the bitcoin price dynamics scene is a lot less certain than being made out to be.  

Who gets the last laugh is still unclear, but surely buying and accumulating continues to seem to be a good thing, and there seemed to have been a bit of a closing of bargain basement bitcoin prices, and hopefully decent damaging of the bitcoin naysayers, fence sitters, no coiners and alt coin pumpers.  

I cannot see any ability to really rest with too much assurance at the moment in terms of the solidiness of this particular pump, especially when alt coins seem to be pumping similar amounts, and that seems to be unnecessary froth that preferably should be purged a bit more.... but who knows?  who knows?

I love bears getting rekt. Imagine how dumb you have to be to short bitcoin with the current global macro space full of ideal shorts.

In a kind of ideal world, I would not mind a bit more of an unsustainable pump into the sub-$10k arena and challenging $10k resistance, perhaps, and surely that would not be sustainable, so maybe we would then get a correction back down to our current mid-$8k levels, but hey whatever, we should attempt to be prepared for anything, especially UP.  

So yeah, in that regard, it is not a bad thing to see some of the failure to take a stake folks getting reckt and also the folks who are betting on down or pushing for down to get reckt, too. 

Yeah, it gets scary as fuck when BTC prices are going down and correcting and there does not seem to be any really good reasons beyond the usual exaggerated bullshit, that is likely even less convincing to longer term BTC HODLers, while at the same time, bitcoin newbies and those without decently strong BTC convictions do have a tendency to give some (probably too much) credence to those negative scenarios and end up doing the opposite of what they should be doing.. either failing to buy, or worse, selling and waiting/hoping for still lower BTC prices... which to many of us seems unrealistic in both an already having had happened 45% BTC price correction and in what seems to be a bull market (yeah, no one believes that we could have close to a 50% BTC price correction in a bull market, but something quite similar has happened in bitcoinlandia's relatively short history on several previous occasions).

Bitcoin makes you anti-fragile. When bears laugh at you when you say buy the dip, they soon forget this when you're right. lol

Lot of "know it all" fucktwats (am I being too nice in my description?) going into hiding...  Tongue

Yeah, really smart to be shorting bitcoin.   Rolleyes

Smile Big Grin Smile


RE: The Bitcoin Thread (price and other bitcoin related topics) - Swordfish1010 - 10-25-2019

(10-25-2019, 05:24 PM)JayJuanGee Wrote:
(10-25-2019, 05:06 PM)Swordfish1010 Wrote:
(10-25-2019, 04:27 PM)JayJuanGee Wrote:
(10-25-2019, 04:14 PM)Swordfish1010 Wrote:
(10-25-2019, 04:10 PM)JayJuanGee Wrote: hahahahaha

Yeah.


Nice little short squeeze, and perhaps even something more sustainable.  Nice to see a decent number of cocky bears getting reckt when they had started bragging about their supposed shorts and sub $6k or $3k or lower targets, which yeah those targets may end up happening, but the bitcoin price dynamics scene is a lot less certain than being made out to be.  

Who gets the last laugh is still unclear, but surely buying and accumulating continues to seem to be a good thing, and there seemed to have been a bit of a closing of bargain basement bitcoin prices, and hopefully decent damaging of the bitcoin naysayers, fence sitters, no coiners and alt coin pumpers.  

I cannot see any ability to really rest with too much assurance at the moment in terms of the solidiness of this particular pump, especially when alt coins seem to be pumping similar amounts, and that seems to be unnecessary froth that preferably should be purged a bit more.... but who knows?  who knows?

I love bears getting rekt. Imagine how dumb you have to be to short bitcoin with the current global macro space full of ideal shorts.

In a kind of ideal world, I would not mind a bit more of an unsustainable pump into the sub-$10k arena and challenging $10k resistance, perhaps, and surely that would not be sustainable, so maybe we would then get a correction back down to our current mid-$8k levels, but hey whatever, we should attempt to be prepared for anything, especially UP.  

So yeah, in that regard, it is not a bad thing to see some of the failure to take a stake folks getting reckt and also the folks who are betting on down or pushing for down to get reckt, too. 

Yeah, it gets scary as fuck when BTC prices are going down and correcting and there does not seem to be any really good reasons beyond the usual exaggerated bullshit, that is likely even less convincing to longer term BTC HODLers, while at the same time, bitcoin newbies and those without decently strong BTC convictions do have a tendency to give some (probably too much) credence to those negative scenarios and end up doing the opposite of what they should be doing.. either failing to buy, or worse, selling and waiting/hoping for still lower BTC prices... which to many of us seems unrealistic in both an already having had happened 45% BTC price correction and in what seems to be a bull market (yeah, no one believes that we could have close to a 50% BTC price correction in a bull market, but something quite similar has happened in bitcoinlandia's relatively short history on several previous occasions).

Bitcoin makes you anti-fragile. When bears laugh at you when you say buy the dip, they soon forget this when you're right. lol

Lot of "know it all" fucktwats (am I being too nice in my description?) going into hiding...  Tongue

Yeah, really smart to be shorting bitcoin.   Rolleyes

Smile Big Grin Smile

High time preference gambling. We are in this for the long haul. It is a game of accumulation, winner takes all.