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The Bitcoin Thread (price and other bitcoin related topics) - Printable Version

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RE: The Bitcoin Thread (price and other bitcoin related topics) - JayJuanGee - 11-14-2019

Looks like Switzerland is increasing retail abilities to accept Bitcoin.  I am not sure if that will cause more people to want to spend their bitcoins... but nice to have ongoing expansions of liquidation options.

https://cointelegraph.com/news/65-000-swiss-retailers-will-soon-be-able-to-accept-bitcoin#/


RE: The Bitcoin Thread (price and other bitcoin related topics) - JayJuanGee - 11-14-2019

(11-14-2019, 08:44 PM)Docardio Wrote: I doubt that I can change somebody's mind here as the objective reality manifested in thousands of charts haven't managed to do that- who am I. But I encourage you to track the income and loss from the trading for a week and than to try gambling for a week. There's no reason to be surprised when the casino number will be higher- all the sign have been here all the time [[url= bitcoin casino[/url] - ------- removed link]

I remain a bit unclear regarding what point you are trying to make.  Are you trying to pump that website, here?

Or are you trying to make some kind of claim about bitcoin?   

As you likely realize gambling is different from investing, yet you seem to be trying to equate the idea.  For what purpose?  Do you know what bitcoin is, or you merely consider bitcoin as some kind of tool used in a stupid-ass scam website that you are wanting to promote?


RE: The Bitcoin Thread (price and other bitcoin related topics) - JayJuanGee - 11-15-2019

For sure, none of us really know when there is going to be a bitcoin pump, and so in that regard, there is a large HODL premium that tends to be greatly widdled away when guys attempt to time the market or end up getting out at certain times, and then the BTC price unexpectedly pumps.

Here's a nice little Binance research piece that compiles BTC market performance data from May 2013 to present to show in a chart visualization the premium importance of HODL

Yeah, I know that frequently in this space, we have guys trying to talk you out of your bitcoin or suggesting that you get distracted into some other coin or that you wait for a lower BTC price, etc, etc, etc... yet HODL remains a very solid strategy, especially when it comes to BTC... and especially when it comes to having a long term perspective, such as more than 6 years as study from 2013 to present would suggest.  Of course, historical performance is no guarantee of future performance, but still seems to provide a decent guide regarding how to establish and practice a prudent and reasonable strategy that involves regular buying, accumulating and HODLing of BTC.   
 
https://twitter.com/BinanceResearch/status/1194919127065878529

[Image: EJU0m9_UUAAsK90?format=jpg&name=small]


RE: The Bitcoin Thread (price and other bitcoin related topics) - JayJuanGee - 11-16-2019

Nice article showing how the dollar losing value over time in light of what bitcoin brings to the table.

https://beincrypto.com/us-dollar-failed-as-savings-technology-highlighting-bitcoin/


[Image: Rise-and-Fall-of-the-USD-688d.jpg]


RE: The Bitcoin Thread (price and other bitcoin related topics) - JayJuanGee - 11-16-2019

I am not sure about the accuracy of the content of the below linked tweet regarding bitcoin's continued increase in transaction volume.

Many of us likely realize that bitcoin is not really used very much for smaller transactions, but likely there are a decent amount of bitcoin transactions that are sending from one wallet to another of the same person, and other kinds of UTXO management type transactions.  



https://twitter.com/CryptoRank_io/status/1194948335175647235


[Image: EJVPK9TXkAAcVMS?format=jpg&name=small]


RE: The Bitcoin Thread (price and other bitcoin related topics) - JackinX - 11-16-2019

(11-14-2019, 03:56 AM)Swordfish1010 Wrote: Pierre Rochard followed me on twitter, I've officially made it. lol

You also just soft-doxed yourself Wink

(11-16-2019, 09:40 PM)JayJuanGee Wrote: I am not sure about the accuracy of the content of the below linked tweet regarding bitcoin's continued increase in transaction volume.

Many of us likely realize that bitcoin is not really used very much for smaller transactions, but likely there are a decent amount of bitcoin transactions that are sending from one wallet to another of the same person, and other kinds of UTXO management type transactions.  



https://twitter.com/CryptoRank_io/status/1194948335175647235


[Image: EJVPK9TXkAAcVMS?format=jpg&name=small]

That can't be accurate at all unless they're including exchanges.


RE: The Bitcoin Thread (price and other bitcoin related topics) - JayJuanGee - 11-16-2019

(11-16-2019, 09:43 PM)JackinX Wrote:
(11-14-2019, 03:56 AM)Swordfish1010 Wrote: Pierre Rochard followed me on twitter, I've officially made it. lol

You also just soft-doxed yourself Wink

I did not know that there was any such thing as an "unregistered member."   You must have customized that rank for yourself.

Some people use the same user name on several platforms, so in that regard, maybe swordfish is using the same user name.  Otherwise, I would not want to encourage too much discussion of doxxing to the extent that we could end up going down the path to violable conduct.

What about you, JackinX?  Are you interested in bitcoin, or just want to protect our draw attention to possible weakness's in Opsec?


RE: The Bitcoin Thread (price and other bitcoin related topics) - JackinX - 11-16-2019

(11-16-2019, 09:51 PM)JayJuanGee Wrote: What about you, JackinX?  Are you interested in bitcoin, or just want to protect our draw attention to possible weakness's in Opsec?

Clearly. If I have something to contribute, I will. For the time being I'm happy to observe and hold. Opsec is important.


RE: The Bitcoin Thread (price and other bitcoin related topics) - JayJuanGee - 11-16-2019

(11-16-2019, 09:43 PM)JackinX Wrote:
(11-16-2019, 09:40 PM)JayJuanGee Wrote: I am not sure about the accuracy of the content of the below linked tweet regarding bitcoin's continued increase in transaction volume.

Many of us likely realize that bitcoin is not really used very much for smaller transactions, but likely there are a decent amount of bitcoin transactions that are sending from one wallet to another of the same person, and other kinds of UTXO management type transactions.  



https://twitter.com/CryptoRank_io/status/1194948335175647235


[Image: EJVPK9TXkAAcVMS?format=jpg&name=small]

That can't be accurate at all unless they're including exchanges.

I am not sure about how the data is derived. There is almost NO measure that is going to deceptively count transactions that are done on exchanges, but sending money to and from exchanges would surely be fair game for such an accounting of legitimate transactions - even though those transactions would be to and from the same owner in a large number of the cases.

Furthermore, they might be attempting to measure all onchain transactions, or they could even be including lightning transactions too.

We do have a bit of a potential transparency problem in bitcoin in recent times in regards to ways to measure lightning transactions and even the extent to which lighting nodes (and thus transactions) are actually growing, and that is due to an increasing use of private nodes and private channels, which would cause the transactions to become more difficult to measure, too.


RE: The Bitcoin Thread (price and other bitcoin related topics) - JayJuanGee - 11-16-2019

(11-16-2019, 10:01 PM)JackinX Wrote:
(11-16-2019, 09:51 PM)JayJuanGee Wrote: What about you, JackinX?  Are you interested in bitcoin, or just want to protect our draw attention to possible weakness's in Opsec?

Clearly. If I have something to contribute, I will. For the time being I'm happy to observe and hold. Opsec is important.

For sure I am not going to deny a certain amount of importance in Opsec, in the event that you are not already publicly known and/or wanting to be publicly known.  

So, are you going to say anything about why you are interested in bitcoin without necessarily revealing any of your personal details.

Maybe I have shared too much about myself, but I feel that there is some need to share information in order to be able to put some of my own talking points into context, or even to put some of my inquiries or interest into context, yet I don't really reveal details about my holdings beyond disclosing when I got involved and how my strategies towards BTC accumulation and maintenance has changed through the years. 

So, sometimes if I am exchanging ideas with another member regarding possible BTC strategies, it can be quite helpful to consider approximately where he is at in the process, and even if someone might be relatively bullish about bitcoin, they might end up taking a strategy that takes a decently long time to acquire a position or even sometimes engage in strategies that seem to be contrary to a bullish position.  In other words, there are all kinds of seemingly contradictory positions that guys might take, including yours truly, but the approach can be better understood when the guy provides some context, and maybe for myself, personally, I have frequently been a bit cocky regarding my own approach because I consider it to be somewhat foolproof (even if it is a bit complicated), but of course, my approach would only end up working decently well if BTC prices ultimately are on an upwards trajectory and also my level of cockiness became a bit stronger after getting further into a more solid position with a decent amount of equity through the passage of time and of course, BTC's upwards price movements that had ultimately coincided with my reasons for getting into it in the first place (based on my belief that it had considerable upside potential).


RE: The Bitcoin Thread (price and other bitcoin related topics) - JayJuanGee - 11-17-2019

I am not sure whether this tweet from Bobby Lee rises to the level of an admission against interest, or a fair and legit apology.  Probably the latter is fine - even though his welcome back to bitcoin should be a kind of probationary period, and he had shown some of his true colors in attempting to act strong-handedly against consensus, and surely it is likely somewhat better than never apologizing.

https://twitter.com/bobbyclee/status/1195731426546597888

Quote:

>>>>>>[url=https://twitter.com/bobbyclee][/url]Bobby Lee - Ballet: Simple & Elegant Wallet

@bobbyclee


2 years ago, I thought SegWit2x was the best path forward for Bitcoin. I‘ve since come to realize that it was extremely dangerous & irresponsible to push for a contentious hard fork w/o replay protection, esp. when there wasn’t consensus. Mea culpa!
Bitcoin is the real Bitcoin.<<<<<<<<



RE: The Bitcoin Thread (price and other bitcoin related topics) - JayJuanGee - 11-17-2019

Here's a bitcoin ATM update.

https://cointelegraph.com/news/bitcoin-atms-worldwide-hit-new-milestone-surpassing-6-000


Surely lots more room for expansion in that market, though still seeming to have decent growth.


RE: The Bitcoin Thread (price and other bitcoin related topics) - JayJuanGee - 11-17-2019

Here's an interesting tweet of a news blurb regarding projected upcoming Lebonon banking issues.


https://twitter.com/redditbtc/status/1195999403653390336?s=21

Quote:  

>>>>[/url]/r/Bitcoin

@RedditBTC

[url=https://twitter.com/RedditBTC]




Lebanon in Crisis, the people with money in banks are likely going to be taking a "hair cut". Nassim Taleb recommends Bitcoin.<<<<<


RE: The Bitcoin Thread (price and other bitcoin related topics) - JayJuanGee - 11-17-2019

Here's a link to an interesting tweet that tries to explain the bitcoin mining process.

https://twitter.com/lopp/status/1196061031979765761

>>>>>>[/url]Jameson Lopp
@lopp


Bitcoin miners don't "solve complicated math problems."
They make 100,000,000,000,000,000,000 guesses per second @ permutations of an 80 byte block header until they find one with a hash that has enough leading zeroes.
Not complicated.
Not a math problem.
Just a lot of hard work.<<<<<

Also, if you are not sure about what is in a 80 byte bitcoin block header.  Here is a nice little chart.

[Image: ?u=https%3A%2F%2Fi.imgur.com%2F8wf41Ly.j...yjhfWlI6FA]

The chart came out of this below linked article that gives a bit more context regarding bitcoin's historical development around headers.
Bitcoin Developer Reference

(and was referenced by fillippone in the bitcoin talk wall observer thread)


RE: The Bitcoin Thread (price and other bitcoin related topics) - Rottenapple - 11-18-2019

(11-17-2019, 03:45 PM)JayJuanGee Wrote: Here's a bitcoin ATM update.

https://cointelegraph.com/news/bitcoin-atms-worldwide-hit-new-milestone-surpassing-6-000


Surely lots more room for expansion in that market, though still seeming to have decent growth.

Strange that there are so few in Asia. I thought South Korea was by far the most crypto crazy country. Probably government legislation holding it back still in many places.


RE: The Bitcoin Thread (price and other bitcoin related topics) - Rottenapple - 11-18-2019

(11-17-2019, 06:47 PM)JayJuanGee Wrote: Here's an interesting tweet of a news blurb regarding projected upcoming Lebonon banking issues.


https://twitter.com/redditbtc/status/1195999403653390336?s=21

Quote:  

>>>>[/url]/r/Bitcoin

@RedditBTC

[url=https://twitter.com/RedditBTC]




Lebanon in Crisis, the people with money in banks are likely going to be taking a "hair cut". Nassim Taleb recommends Bitcoin.<<<<<

Bitcoin could use another user case after Venezuela, where in a national context it's clearly shown how it can mitigate a crisis. It would be good exposure for sure.


RE: The Bitcoin Thread (price and other bitcoin related topics) - JayJuanGee - 11-18-2019

(11-18-2019, 08:14 AM)Rottenapple Wrote:
(11-17-2019, 03:45 PM)JayJuanGee Wrote: Here's a bitcoin ATM update.

https://cointelegraph.com/news/bitcoin-atms-worldwide-hit-new-milestone-surpassing-6-000


Surely lots more room for expansion in that market, though still seeming to have decent growth.

Strange that there are so few in Asia. I thought South Korea was by far the most crypto crazy country. Probably government legislation holding it back still in many places.

I recall that South Korea was getting a lot of attention in late 2017 during our last BTC price bubble, and frequently there was around 20% or more BTC price premium in south Korean locations (exchanges) to show their craziness, as you call it.  

But, yeah, there has been varying kinds of asian news and receptivity to BTC over the years, and ultimately I believe that the lack of ATMs in some locations, including in asia, might either show a considerable potential for both ATM expansion in the various countries in those areas and probably also shows that we remain in relatively early stages of BTC adoption, including establishing that there is enough of a perceived demand in various locations to justify installing BTC ATMs.  

Of course, there has to be some level of confidence of legal acceptance for an ATM operator to even want to attempt to sell their product in any country.


RE: The Bitcoin Thread (price and other bitcoin related topics) - JayJuanGee - 11-18-2019

(11-18-2019, 08:15 AM)Rottenapple Wrote:
(11-17-2019, 06:47 PM)JayJuanGee Wrote: Here's an interesting tweet of a news blurb regarding projected upcoming Lebonon banking issues.


https://twitter.com/redditbtc/status/1195999403653390336?s=21

Quote:  

>>>>[/url]/r/Bitcoin

@RedditBTC

[url=https://twitter.com/RedditBTC]




Lebanon in Crisis, the people with money in banks are likely going to be taking a "hair cut". Nassim Taleb recommends Bitcoin.<<<<<

Bitcoin could use another user case after Venezuela, where in a national context it's clearly shown how it can mitigate a crisis. It would be good exposure for sure.

Yes.  Some BIG dramatic examples can help to demonstrate BTC's use case, even though there may not even need to be such extreme examples for the word to start to get out with the people that BTC provides way more soundness than a lot of financial options in many countries, including the USA and it's dollar (despite the relative strength of the dollar), especially zooming out over a longer time horizon.  

We get distracted by short term BTC downtrends, but zooming out shows a kind of BTC price performance that is hard to replicate with any asset class, and currencies surely are not going to establish solidness or strength.. looking at 3.5 years or longer even with the strongest of currencies (USD) from any price point will show pretty convincing evidence regarding BTC holding its value relatively speaking and really serving as a value suction (benefitting the early adopters, more than anyone).  

Since we are currently getting close to the 2 year time frame of since the last BIG BTC price explosion, the 2 year BTC price charts are not going to be looking too good - at these current BTC prices.  

But, yeah, the more draconian the loss of value of various local currencies, the more justification for even short term moves into bitcoin, and seems that there are no shortage of examples of currencies that have difficulties holding their value, as shown in this current 2019 article.


RE: The Bitcoin Thread (price and other bitcoin related topics) - JayJuanGee - 11-18-2019

Here's a tweet to a chart showing the BTC halvenings from 2009 to 2140.


https://twitter.com/CryptooIndia/status/1193493686383824898?s=20


[Image: EJAkKKGUwAAJa1r?format=jpg&name=small]


A nice little article explaining the situation, too:

STACK SATS NOW: #BITCOIN BLOCK REWARDS WILL BE JUST 1 SATOSHI BY 2140


RE: The Bitcoin Thread (price and other bitcoin related topics) - JayJuanGee - 11-18-2019

This one is not bad either, to attempt to compare BTC price movements in two 4-year periods.  

The upper two lines are showing 200 day moving averages and the lower two lines are showing the Mayer multiple.

https://twitter.com/ChartsBtc/status/1196449013907615746

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