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RE: The Bitcoin Thread (price and other bitcoin related topics) - JayJuanGee - 07-30-2020

The below is not a bad tweeted visual of an update of a halvening and BTC price performance chart.

Pretty no?

[Image: EeLuH4tU8AAnOQ9?format=png&name=small]

https://twitter.com/ChartsBtc/status/1288855126623412229

Quote:
>>>>
#bitcoin[Image: Bitcoin_2020.png]halving cycle - Can you find this week's move to $11k?
<<<<<<


RE: The Bitcoin Thread (price and other bitcoin related topics) - JayJuanGee - 07-31-2020

Here's a link to a pretty decent website that shows bitcoin dominance by ONLY showing proof of work coins, eliminating stable coins and ICOs,, and you have the option to show ETH or NOT in the calculation, and an argument about ETH would be that it is supposedly switching to proof of stake (since like forever), and we will believe such transition to POS if it ever comes, and I have considerable doubts about that.. since proof of work is better anyhow, but that shit coin is trying to somehow distinguish itself from bitcoin.. 

https://bitcoindominance.com/

Their explanation of exclusions seems worth showing here:

Quote:>>>>>
Why does Bitcoin Dominance exclude ICOs?
Bitcoin Dominance excludes ICOs because they are each controlled and issued by a centralized entity and so therefore cannot act as hard money. Even if the ICO intends to be money, it cannot offer any improvement over the current fiat system of centralized banking and money printing.
Why does Bitcoin Dominance exclude stablecoins?
Stablecoins have a very specific use in mind: Stablecoins act as on-ramps and off-ramps between fiat and cryptocurrencies and are just an extension of government controlled fiat money.
Because The Real Bitcoin Dominance Index is only interested in tracking which cryptocurrencies are capable of becoming global money replacements one day, stablecoins cannot be included since their value and purpose depends on fiat dollars existing.

Why does Bitcoin Dominance only include proof-of-work coins?
Bitcoin Dominance only includes proof-of-work coins in its index because, so far, POW is the only consensus algorithm known to be able to keep the network decentralized. Decentralization is important because, if it cannot be achieved, then there is no improvement over the current system of centralized banking.

Why Does The Real Bitcoin Dominance Index Matter?
The Real Bitcoin Dominance Index matters because there is currently no easy way to track proof-of-work coins only. As an alternative to Coin Market Cap, where all coins are shown, Bitcoin Dominance only tracks the coins that are attempting to be used as a medium of exchange (i.e. money).

Why is There an Option to Include/Disable Ethereum?
Ethereum is included in the index because it is a proof-of-work coin, however, many people do not think Ethereum is attempting to be money (but instead a ‘global decentralized internet’).
Because of this, we give you the option. If or when Ethereum moves to a proof-of-stake consensus algorithm, it may be removed from the index entirely.
<<<<<


RE: The Bitcoin Thread (price and other bitcoin related topics) - billydingdong - 08-01-2020

(07-31-2020, 04:00 PM)JayJuanGee Wrote: Here's a link to a pretty decent website that shows bitcoin dominance by ONLY showing proof of work coins, eliminating stable coins and ICOs,, and you have the option to show ETH or NOT in the calculation, and an argument about ETH would be that it is supposedly switching to proof of stake (since like forever), and we will believe such transition to POS if it ever comes, and I have considerable doubts about that.. since proof of work is better anyhow, but that shit coin is trying to somehow distinguish itself from bitcoin.. 

https://bitcoindominance.com/

LOL!

That's good stuff JJG. A Bitcoin dominance index that excludes 99% of all the cryptos out there?





Sweaty Bitcoin maximalists getting more desperate by the day as DeFi eats their lunch.


RE: The Bitcoin Thread (price and other bitcoin related topics) - JayJuanGee - 08-01-2020

(08-01-2020, 09:20 AM)billydingdong Wrote:
(07-31-2020, 04:00 PM)JayJuanGee Wrote: Here's a link to a pretty decent website that shows bitcoin dominance by ONLY showing proof of work coins, eliminating stable coins and ICOs,, and you have the option to show ETH or NOT in the calculation, and an argument about ETH would be that it is supposedly switching to proof of stake (since like forever), and we will believe such transition to POS if it ever comes, and I have considerable doubts about that.. since proof of work is better anyhow, but that shit coin is trying to somehow distinguish itself from bitcoin.. 

https://bitcoindominance.com/

LOL!

That's good stuff JJG. A Bitcoin dominance index that excludes 99% of all the cryptos out there?





Sweaty Bitcoin maximalists getting more desperate by the day as DeFi eats their lunch.

I think that the website is self-explanatory in regards to focusing on POW coins - because that is likely the main contribution that bitcoin brought to the space in 2009, and there is no coin or project that even seems to come close to bitcoin, whether we include the distraction coins that are weeded out or not.

Anyhow, the site does seem to be attempting to make some kind of alternative and seemingly more accurate assessment of market cap as compared with the coinmarketcap website that seems to have a delusional (and also deluting) nonsense in there.. .. and yeah, 99% of the coins are pure crap.. you should recognize some value in weeding those out in terms of comparing to bitcoin's seeming value proposition.

Seems also that Ethereum as a POW coin would have more connection or relation to a sound money thesis if it were to continue as a POW coin, but your 14-you’re ear old snot nosed buddies seem to have a lot of distractions in trying to distinguish themselves from bitcoin as a POS coin, which may well not ever take place... with the purported various 4 stages (or whatever the fuck it is) of transitioning to ethereum 2.0

And, as far as the defi nonsense, sure there is likely a lot of dumb money that is involved in those kinds of hope to make money quit for yielding dividends and pie in the sky things like that, and still is unclear about the extent that any of that defi nonsense is going to contribute value to the space or get absorbed as a bitcoin layer 2 level, but in any event that defi baloney does not really seem relevant to this thread.. bitcoin seems to be doing fine.. and I doubt that the tail is going to wag the dog any time soon, even though you, billydingdong, seem to be feeling a lot of hanging on the coattails pumpium hopium, currently.    Tongue


RE: The Bitcoin Thread (price and other bitcoin related topics) - billydingdong - 08-01-2020

(08-01-2020, 09:41 AM)JayJuanGee Wrote: And, as far as the defi nonsense, sure there is likely a lot of dumb money that is involved in those kinds of hope to make money quit for yielding dividends and pie in the sky things like that, and still is unclear about the extent that any of that defi nonsense is going to contribute value to the space or get absorbed as a bitcoin layer 2 level, but in any event that defi baloney does not really seem relevant to this thread.. bitcoin seems to be doing fine.. and I doubt that the tail is going to wag the dog any time soon, even though you, billydingdong, seem to be feeling a lot of hanging on the coattails pumpium hopium, currently.    Tongue

As of now, the bull run is being completely and totally led by Ethereum and the assets/tokens being built on top of it. Bitcoin is a fortunate beneficiary of this activity.

You can call DeFi nonsense, but if it were happening on Bitcoin, you'd be celebrating it.

Haters gonna hate. Angel


RE: The Bitcoin Thread (price and other bitcoin related topics) - JayJuanGee - 08-01-2020

(08-01-2020, 06:33 PM)billydingdong Wrote:
(08-01-2020, 09:41 AM)JayJuanGee Wrote: And, as far as the defi nonsense, sure there is likely a lot of dumb money that is involved in those kinds of hope to make money quit for yielding dividends and pie in the sky things like that, and still is unclear about the extent that any of that defi nonsense is going to contribute value to the space or get absorbed as a bitcoin layer 2 level, but in any event that defi baloney does not really seem relevant to this thread.. bitcoin seems to be doing fine.. and I doubt that the tail is going to wag the dog any time soon, even though you, billydingdong, seem to be feeling a lot of hanging on the coattails pumpium hopium, currently.    Tongue

As of now, the bull run is being completely and totally led by Ethereum and the assets/tokens being built on top of it. Bitcoin is a fortunate beneficiary of this activity.

You can call DeFi nonsense, but if it were happening on Bitcoin, you'd be celebrating it.

Haters gonna hate. Angel

I already addressed this issue of the tail not wagging the dog, but sure, you want to insist that the tail is wagging the dog... so sure.. believe what you will.  

By the way, isn't there some other thread that you can rejoice in such smoke and mirrors wishful-thinking regarding yield farming, rather than distracting adults in this thread from more important POW and sound money considerations?   Tongue Tongue


RE: The Bitcoin Thread (price and other bitcoin related topics) - billydingdong - 08-01-2020

(08-01-2020, 06:39 PM)JayJuanGee Wrote: I already addressed this issue of the tail not wagging the dog, but sure, you want to insist that the tail is wagging the dog... so sure.. believe what you will.  

By the way, isn't there some other thread that you can rejoice in such smoke and mirrors wishful-thinking regarding yield farming, rather than distracting adults in this thread from more important POW and sound money considerations?   Tongue Tongue

Bitcoin is fast becoming the tail before your very eyes.

Less adoption, fewer applications, fewer devs, less network usage, less transaction fee revenue and lower price appreciation.

But we're different.

You prefer to invest in 2007 MySpace while I prefer Facebook. Cool Wink


RE: The Bitcoin Thread (price and other bitcoin related topics) - JayJuanGee - 08-01-2020

(08-01-2020, 06:50 PM)billydingdong Wrote:
(08-01-2020, 06:39 PM)JayJuanGee Wrote: I already addressed this issue of the tail not wagging the dog, but sure, you want to insist that the tail is wagging the dog... so sure.. believe what you will.  

By the way, isn't there some other thread that you can rejoice in such smoke and mirrors wishful-thinking regarding yield farming, rather than distracting adults in this thread from more important POW and sound money considerations?   Tongue Tongue

Bitcoin is fast becoming the tail before your very eyes.

Less adoption, fewer applications, fewer devs, less network usage, less transaction fee revenue and lower price appreciation.

But we're different.

You prefer to invest in 2007 MySpace while I prefer Facebook. Cool Wink


Do you really believe that your post is on topic, billy?  You are not really making any kind of meaningful bitcoin point, except for suggesting that bitcoin is less preferable as an investment than ethereum from your point of view.. which I surely have a difficult time as seeing as topical and more your desire to troll the thread and to promote some other investment, which seems more relevant to some other thread.

Of course, a bit of banter here and there regarding other possible non-bitcoin projects could be argued to be relevant to this thread, but I hardly see any genuineness in your desire to go on and on about your disagreement regarding bitcoin as an investment and acting like you have something new to add merely because your shitcoin is getting some recent pumpenings.

In other words, your posts have hardly said shit about bitcoin in any kind of substantive or meaningful kind of way.  Do you have anything that might be substantive and meaningful to bitcoin besides your superficial conclusionary bashings that seem to just be striving towards pumping your off-topic shitcoin?


RE: The Bitcoin Thread (price and other bitcoin related topics) - billydingdong - 08-01-2020

(08-01-2020, 07:07 PM)JayJuanGee Wrote: Do you really believe that your post is on topic, billy?  You are not really making any kind of meaningful bitcoin point, except for suggesting that bitcoin is less preferable as an investment than ethereum from your point of view.. which I surely have a difficult time as seeing as topical and more your desire to troll the thread and to promote some other investment, which seems more relevant to some other thread.

...

In other words, your posts have hardly said shit about bitcoin in any kind of substantive or meaningful kind of way.  Do you have anything that might be substantive and meaningful to bitcoin besides your superficial conclusionary bashings that seem to just be striving towards pumping your off-topic shitcoin?

Sorry JJG, but I don't recognize your status as the Hall Monitor of The Bitcoin Thread   Big Grin

I'm not talking at any kind of length here about any of these other projects.

And, it's absolutely relevant to Bitcoin that, in the short term, it isn't currently performing all that well relative to other cryptos and, over the long term, is losing traction on several key metrics.

I own some Bitcoin and hope it pumps and I can also see that it's been slipping for a long time when you examine what's actually happen out there.

I know you take a lot of comfort in the 'sound money thesis' blankie and the 'stock to flow' binky but many of us out there don't find it so convincing.

Cool Big Grin


RE: The Bitcoin Thread (price and other bitcoin related topics) - JayJuanGee - 08-01-2020

(08-01-2020, 07:22 PM)billydingdong Wrote:
(08-01-2020, 07:07 PM)JayJuanGee Wrote: Do you really believe that your post is on topic, billy?  You are not really making any kind of meaningful bitcoin point, except for suggesting that bitcoin is less preferable as an investment than ethereum from your point of view.. which I surely have a difficult time as seeing as topical and more your desire to troll the thread and to promote some other investment, which seems more relevant to some other thread.

...

In other words, your posts have hardly said shit about bitcoin in any kind of substantive or meaningful kind of way.  Do you have anything that might be substantive and meaningful to bitcoin besides your superficial conclusionary bashings that seem to just be striving towards pumping your off-topic shitcoin?

Sorry JJG, but I don't recognize your status as the Hall Monitor of The Bitcoin Thread   Big Grin

I'm not talking at any kind of length here about any of these other projects.

And, it's absolutely relevant to Bitcoin that, in the short term, it isn't currently performing all that well relative to other projects and, over the long term, is losing relevance on several key metrics.

We disagree on the above.

(08-01-2020, 07:22 PM)billydingdong Wrote: I own some Bitcoin and hope it pumps

Wow. Finally you have come around to buying some BTC. It's about fucking time, even though I suspect that you might be underinvesting in BTC, but hey at least you are now admitting to having "some."

(08-01-2020, 07:22 PM)billydingdong Wrote: and I can also see that it's slipping for a long time when you examine what's actually happen out there.

That's bullshit, and surely I have heard those kinds of bitcoin naysaying arguments since I started investing in bitcoin, and they were pretty strong in 2017, too. You are repeating the same nonsense talking points, with little to no evidence to support such arguments besides the hopium proclamations of a decent number of snot nosed 14-year old tic tocker yield-farming wannabes..

(08-01-2020, 07:22 PM)billydingdong Wrote: I know you take a lot of comfort in the 'sound money thesis' blankie and the  'stock to flow' binky but many of us out there don't find it so convincing.

Cool Big Grin

No problem. You don't need to buy into the foundational sound money thesis or the various other aspects such as price prediction models or the fact that there is a difference between investing in an actual product versus a smoke and mirrors house of cards product, and I am not even proclaiming that it might not take 50 years for the various value gravitation into kingdaddy to play out.. .so sure in the meantime, you are likely to experience some ongoing and additional hanging on the coattail of kingdaddy pumpenings of your various insecure, cluttered, overly complicated mumbo jumbo, centralized (acting like they are not) imitation snake-oil products. Tongue


RE: The Bitcoin Thread (price and other bitcoin related topics) - billydingdong - 08-01-2020

(08-01-2020, 07:55 PM)JayJuanGee Wrote: That's bullshit, and surely I have heard those kinds of bitcoin naysaying arguments since I started investing in bitcoin, and they were pretty strong in  2017, too.  You are repeating the same nonsense talking points, with little to no evidence to support such arguments besides the hopium proclamations of a decent number of snot nosed 14-year old tic tocker yield-farming wannabes..

...

No problem.  You don't need to buy into the foundational sound money thesis or the various other aspects such as price prediction models or the fact that there is a difference between investing in an actual product versus a smoke and mirrors house of cards product, and I am not even proclaiming that it might not take 50 years for the various value gravitation into kingdaddy to play out.. .so sure in the meantime, you are likely to experience some ongoing and additional hanging on the coattail of kingdaddy pumpenings of your various insecure, cluttered, overly complicated mumbo jumbo, centralized (acting like they are not) imitation snake-oil products.   Tongue

The reverse is happening...BTC is riding everyone else's coattails right now.

As it relates to this specific cycle, LINK started the pump, then ETH, then everything else (including BTC), and at present, now ETH again. Just like 2017, BTC is enjoying its current price appreciation on the back of ETH.

Calling every other project 'mumbo jumbo' and 'centralized snake-oil' without understanding any of it is just a form of Bitcoin maximalist cope.

The vast majority of devs, enterprises, and projects (literally several 1000's of people) are building on non-Bitcoin platforms, so calling all this the effort of 'snot-nosed kids' is a desperate effort to bury one's head in the sand.

Right now that's not playing out so well.

Also, saying that Bitcoin will 'adopt' the features of the others on a 50-year timeline while these others continue to gain larger shares of transaction activity, users, volume, and clout, is bigger cope.

I'm sure you also believe MySpace is playing a similar long game and will overtake Facebook and all the other social media any time Wink


RE: The Bitcoin Thread (price and other bitcoin related topics) - JayJuanGee - 08-01-2020

(08-01-2020, 08:20 PM)billydingdong Wrote:
(08-01-2020, 07:55 PM)JayJuanGee Wrote: That's bullshit, and surely I have heard those kinds of bitcoin naysaying arguments since I started investing in bitcoin, and they were pretty strong in  2017, too.  You are repeating the same nonsense talking points, with little to no evidence to support such arguments besides the hopium proclamations of a decent number of snot nosed 14-year old tic tocker yield-farming wannabes..

...

No problem.  You don't need to buy into the foundational sound money thesis or the various other aspects such as price prediction models or the fact that there is a difference between investing in an actual product versus a smoke and mirrors house of cards product, and I am not even proclaiming that it might not take 50 years for the various value gravitation into kingdaddy to play out.. .so sure in the meantime, you are likely to experience some ongoing and additional hanging on the coattail of kingdaddy pumpenings of your various insecure, cluttered, overly complicated mumbo jumbo, centralized (acting like they are not) imitation snake-oil products.   Tongue

The reverse is happening...BTC is riding everyone else's coattails right now.

Oh gawd, billy. Couldn't we agree to disagree at some point?

It's like a group of people are marching in a certain direction, and then one person (or small group) gets in front of that marching group and proclaims to be the leader because they are in the front. Get real.


(08-01-2020, 08:20 PM)billydingdong Wrote: As it relates to this specific cycle, LINK started the pump, then ETH, then everything else (including BTC), and at present, now ETH again

Calling every other project 'mumbo jumbo' and 'centralized snake-oil' without understanding any of it is just a form of Bitcoin maximalist cope.

It's mostly an attempt to stay on topic. This thread is not about compare and contrast, and if you want to engage in that compare and contrast beyond some superficial level then do that in another thread, then I might jump in on that conversation, too.. perhaps.


(08-01-2020, 08:20 PM)billydingdong Wrote: The vast majority of devs, enterprises, and projects (literally in the 1000's) are building on non-Bitcoin platforms, so calling this the effort of 'snot-nosed kids' is a desperate effort to bury one's head in the sand.
It's an effort to conclusory dismiss the topic as being off-topic...

Again, if you want to flesh out some detail, then go somewhere else and do it, and maybe I will chime in, in the event that I might find any interest in such supposed representation of anyone beyond 14-year old snot nosed brats.


(08-01-2020, 08:20 PM)billydingdong Wrote: Right now that's not playing out so well.

You are suggesting that bitcoin is a bad investment for some reason? How does your proclamation of "not playing out so well" relate to how bitcoin is currently performing or might perform in the future. If you could at least make some kind of effort to relate your assertions to what is happening in bitcoin, then that might be somewhat informative, interesting or at least somewhat on topic for this thread.

(08-01-2020, 08:20 PM)billydingdong Wrote: Also, saying that Bitcoin will 'adopt' the features of the others on a 50-year timeline while these others continue to gain larger shares of transaction activity, users, volume, and clout, is bigger cope.

There is all kinds of things going on in bitcoin, including relationships to macro-economics of various kinds of money and assets as well as relationships to various shitcoins. The existence of shitcoins seems to be a fairly minor component, but still I am not asserting that I have any kind of timeline regarding how so many of the factors are going to play out, including how value of various traditional markets might flow into bitcoin versus flowing into various shitcoins and getting into the details of a lot of that shitcoin stuff (which you seem to want to do here), seems to just take us far away from so many other bitcoin related matters that we can discuss, even though you want to characterize bitcoin as if nothing is going on in bitcoin while you want to present that idea in this bitcoin thread, which just seems intended to distract (aka troll) us from some of the "what is ongoingly going on in bitcoin" matters.

We have plenty to discuss in this thread related to bitcoin without you regularly coming in and trying to make various shitcoins as if they were part of the topic.

We could talk about your recent entrance into bitcoin and your thinking about that, but really you don't really seem too invested in that position, so you probably do not have much to say about your bitcoin position anyhow, except that it is just related to your perceived more important position involving various shitcoins (that are off topic, here).


(08-01-2020, 08:20 PM)billydingdong Wrote: I'm sure you also believe MySpace is playing a similar long game and will overtake Facebook and all the other social media any time  Wink

Seems that we covered this particular inapt comparison previously, and you seem to be mischaracterizing what bitcoin is and what ethereum is in order to try to make some kind of suggestion that ethereum is supposedly a superior later adoption.. which it is not... ethereum does not even know what the fuck it is.. so there is that weird-ass angle to ethereum and bitcoin does not suffer from that kind of NOT having a product issue.

One positive thing about bitcoin's having sound money as a basis, is that it has largely been building slowly and incrementally on foundational aspects that existed in its October 2008 white paper, its January 2009 launch and a decent amount of building and congruent threads to continue to bring a lot of security and soundness to its software foundation that causes bitcoin to continue to lead - without any coin whatsoever, including your little smoke and mirrors ethereum project, coming even close to it in terms of various gold 2.0 features including scarcity, verifiability, portability, divisibility that also allows for cheaper ways to hold and to transfer without permission.. that is secured by ongoing network hashing power and the POW inventions that satoshi brought to the table and continues to be built upon to show why bitcoin ongoingly remains as a WOWza paradigm-shifting technology that still is not even close to being displaced or having any kind of meaningful competitor whether in the meat space or in the crypto space (contrary to what your myspace/facebook comparison attempts to imply).


RE: The Bitcoin Thread (price and other bitcoin related topics) - billydingdong - 08-01-2020

(08-01-2020, 08:53 PM)JayJuanGee Wrote: Seems that we covered this particular inapt comparison previously, and you seem to be mischaracterizing what bitcoin is and what ethereum is in order to try to make some kind of suggestion that ethereum is supposedly a superior later adoption.. which it is not... ethereum does not even know what the fuck it is.. so there is that weird-ass angle to ethereum and bitcoin does not suffer from that kind of NOT having a product issue.

One positive thing about bitcoin's having sound money as a basis, is that it has largely been building slowly and incrementally on foundational aspects that existed in its October 2008 white paper, its January 2009 launch and a decent amount of building and congruent threads to continue to bring a lot of security and soundness to its software foundation that causes bitcoin to continue to lead - without any coin whatsoever, including your little smoke and mirrors ethereum project, coming even close to it in terms of various gold 2.0 features including scarcity, verifiability, portability, divisibility that also allows for cheaper ways to hold and to transfer without permission.. that is secured by ongoing network hashing power and the POW inventions that satoshi brought to the table and continues to be built upon to show why bitcoin ongoingly remains as a WOWza paradigm-shifting technology that still is not even close to being displaced or having any kind of meaningful competitor whether in the meat space or in the crypto space (contrary to what your myspace/facebook comparison attempts to imply).

JJG, why do you do you keep bringing up Ethereum in the Bitcoin thread? Big Grin

Sorry, but your statement about lack of competition here is comically false and out of touch.

Bitcoin's story arc is very neatly parallel to MySpace.

At its onset, MySpace was the first, the "king", and started a great shift toward social networks and, thereafter, social media.

But it was only the beginning and that advantage didn't last.

The real widespread traction in social networking and social media was gained when added USEFUL functionality was implemented: like a better social graph, better usability, expanded capacities to post and interact, deployment on mobile platforms, authentication integrations (log-in/log-out), and integration with other platforms (like Youtube and Instagram).

These advantages compounded on the other platforms overwhelmingly to the point where MySpace is now basically irrelevant.

Like MySpace, Bitcoin has had a very strong start as the first mover.

And also like MySpace, Bitcoin's features are very limited: all you can really do on the platform it is buy, send, and receive.

On other crypto platforms, you can do that PLUS build decentralized applications that integrate and interact with other decentralized applications. This allows everything from collateralized lending + borrowing to the development of stablecoins to the creation of synthetic assets to creating liquidity pools for decentralized exchanges to whatever else can be imagined by developers.

This doesn't happen on Bitcoin because of an inherent limitation — Bitcoin does not exist on a platform that's natively programmable. Other more modern platforms offer this feature .

And due to this, these other platforms + cryptos have more devs building on them, have more transactions, more teams implementing all these useful features, and more value being created. These other cryptos are also seeing more price appreciation.

The only thing they don't have YET is Bitcoin's trading volume and market cap.

But the writing is on the wall. And the asset class is still in the 1st inning.

Denying what's actually happening here and describing other projects as 'snake-oil', 'centralized mumbo jumbo' by 'snot-nosed 14 year old kids' with spittle coming out of your mouth is an evident coping mechanism to distract oneself from this reality.

Like I said, you Bitcoin fanbois would be celebrating the innovation in DeFi if it were your coin.

The 'sound money' aspects of Bitcoin aren't proving to be enough because at this point Bitcoin is basically like a pet rock ( where 65% of its security is in communist China, lol ).


RE: The Bitcoin Thread (price and other bitcoin related topics) - JayJuanGee - 08-01-2020

(08-01-2020, 09:42 PM)billydingdong Wrote:
(08-01-2020, 08:53 PM)JayJuanGee Wrote: Seems that we covered this particular inapt comparison previously, and you seem to be mischaracterizing what bitcoin is and what ethereum is in order to try to make some kind of suggestion that ethereum is supposedly a superior later adoption.. which it is not... ethereum does not even know what the fuck it is.. so there is that weird-ass angle to ethereum and bitcoin does not suffer from that kind of NOT having a product issue.

One positive thing about bitcoin's having sound money as a basis, is that it has largely been building slowly and incrementally on foundational aspects that existed in its October 2008 white paper, its January 2009 launch and a decent amount of building and congruent threads to continue to bring a lot of security and soundness to its software foundation that causes bitcoin to continue to lead - without any coin whatsoever, including your little smoke and mirrors ethereum project, coming even close to it in terms of various gold 2.0 features including scarcity, verifiability, portability, divisibility that also allows for cheaper ways to hold and to transfer without permission.. that is secured by ongoing network hashing power and the POW inventions that satoshi brought to the table and continues to be built upon to show why bitcoin ongoingly remains as a WOWza paradigm-shifting technology that still is not even close to being displaced or having any kind of meaningful competitor whether in the meat space or in the crypto space (contrary to what your myspace/facebook comparison attempts to imply).

JJG, why do you do you keep bringing up Ethereum in the Bitcoin thread? Big Grin

Sorry, but your statement about lack of competition here is comically false and out of touch.

Bitcoin's story arc is very neatly parallel to MySpace.

At its onset, MySpace was the first, the "king", and  started a great shift  toward social networks and, thereafter, social media.

But it was only the beginning and that advantage didn't last.

The real widespread traction in social networking and social media was gained when added USEFUL functionality was implemented: like a better social graph, better usability, expanded capacities to post and interact, deployment on mobile platforms, authentication integrations (log-in/log-out), and integration with other platforms (like Youtube and Instagram).

These advantages compounded on the other platforms overwhelmingly  to the point where MySpace is now basically irrelevant.

Like MySpace, Bitcoin has had a very strong start as the first mover.

And also like MySpace, Bitcoin's features are very limited: all you can really do on the platform it is buy, send, and receive.

On other crypto platforms, you can do that PLUS build decentralized applications that integrate and interact with other decentralized applications. This allows everything from collateralized lending + borrowing to the development of stablecoins to the creation of synthetic assets to creating liquidity pools for decentralized exchanges to whatever else can be imagined by developers.

This doesn't happen on Bitcoin because of an inherent limitation — Bitcoin does not exist on a platform that's natively programmable. Other more modern platforms offer this feature .

And due to this, these other platforms + cryptos have more devs building on them, have more transactions, more teams implementing all these useful features, and more value being created. These other cryptos are also seeing more price appreciation.

The only thing they don't have YET is Bitcoin's trading volume and market cap.


Nice lil story.

Now run along and invest in your various non-bitcoin shit projects. Shew. Shew. Shew.
Good luck. You are likely to need it.


(08-01-2020, 09:42 PM)billydingdong Wrote: But the writing is on the wall. And the asset class is still in the 1st inning.

Denying what's actually happening here and describing other projects as  'snake-oil', 'centralized mumbo jumbo' by 'snot-nosed 14 year old kids' with spittle coming out of your mouth is an evident coping mechanism to distract oneself from this reality.

I don't think so. I already responded to this point. Shew. Why you still hanging out here to pump your baloney. Wasn't there another thread? Or am I the only other STW member who sufficiently understands your various baloney in order to respond to you, so you feel some kind of need to unload your various pumpening attempts nonsense on me?



(08-01-2020, 09:42 PM)billydingdong Wrote: Like I said, you Bitcoin fanbois would be celebrating the innovation in DeFi if it were your coin.

Perhaps? There might be some of that building on bitcoin.. I don't know and I don't care. Bitcoin appreciates enough in value, I don't feel like taking various third-party risks or experimenting with some complicated code that is likely to either exit scam me or overcomplicated lock my funds into nonsense get rich quick temptations.. when they are not necessary.

Did you not realize, already, that bitcoin is already endowed with various feature sets that it is likely to pump forever (or at least as long as we are alive and investing... and cashing out our proceeds for hookers,** lambos and blow) .

** yes, I understand that we do not engage in pay for play in this forum culture so the "hookers" part of the above is merely tongue and cheek part of such idea of getting filthy rich (or at least having excess value to spend) expression

(08-01-2020, 09:42 PM)billydingdong Wrote: The 'sound money' aspects of Bitcoin aren't proving to be enough because at this point Bitcoin is basically like a pet rock ( where 65%  of its  security is in communist China, lol ).

Probably, you will need to zoom out a bit. Price performance should not be measured in such short-time increments. Do I have to teach you every little thing billydingdong? Rolleyes

Tongue Tongue


RE: The Bitcoin Thread (price and other bitcoin related topics) - Contrarian Expatriate - 08-02-2020

(08-01-2020, 08:20 PM)billydingdong Wrote: I'm sure you also believe MySpace is playing a similar long game and will overtake Facebook and all the other social media any time  Wink

I like that MySpace comparison.  But I think part of freedom is the freedom to lose one's wealth in the latest Greater Fool Theory schemes that depend on a continuous stream of more "investors" until the bottom falls out.


RE: The Bitcoin Thread (price and other bitcoin related topics) - JayJuanGee - 08-02-2020

(08-02-2020, 05:31 AM)Contrarian Expatriate Wrote:
(08-01-2020, 08:20 PM)billydingdong Wrote: I'm sure you also believe MySpace is playing a similar long game and will overtake Facebook and all the other social media any time  Wink

I like that MySpace comparison.  But I think part of freedom is the freedom to lose one's wealth in the latest Greater Fool Theory schemes that depend on a continuous stream of more "investors" until the bottom falls out.

You are going to have a lot of pleasure watching that play out.  Sounds like a potential short position to get even more pleasure out of putting actual value on what you purportedly believe.

Yes.. I thought so.. you are all talk, and you really do not believe what you are saying

One of the funny things is that if you are going to bet down on Kingdaddy and have some meaningful potential of being correct about such bet, you likely will need to wait for a while, maybe 1 year or maybe 18 months.   I don't know the timeline nor the price exactly either, but you may well be placing such bet in the $50k to $300k arena, and maybe you will be correct.. but in the meantime, you ended up missing a lot of upside potential.. 5x to 30x.. or maybe some variation in between..

One of the nice things about recognizing a potential asymmetric bet is that you do not need to risk a whole lot of capital and still be able to profit stupendously, for anyone acting on such information.. including some people who have already been acting on such information and buying BTC in the 3 digits and then even in the 4 digits and still finding significant profits - even through 2019 and 2020.. there had been a decent number of opportunities to buy and to now be sitting in very good profits - whether choosing to realize such profits or to let them ride.. or some incrementalism variation.


RE: The Bitcoin Thread (price and other bitcoin related topics) - Contrarian Expatriate - 08-02-2020

(08-02-2020, 05:40 AM)JayJuanGee Wrote:
(08-02-2020, 05:31 AM)Contrarian Expatriate Wrote:
(08-01-2020, 08:20 PM)billydingdong Wrote: I'm sure you also believe MySpace is playing a similar long game and will overtake Facebook and all the other social media any time  Wink

I like that MySpace comparison.  But I think part of freedom is the freedom to lose one's wealth in the latest Greater Fool Theory schemes that depend on a continuous stream of more "investors" until the bottom falls out.

You are going to have a lot of pleasure watching that play out.  Sounds like a potential short position to get even more pleasure out of putting actual value on what you purportedly believe.

Yes.. I thought so.. you are all talk, and you really do not believe what you are saying

One of the funny things is that if you are going to bet down on Kingdaddy and have some meaningful potential of being correct about such bet, you likely will need to wait for a while, maybe 1 year or maybe 18 months.   I don't know the timeline nor the price exactly either, but you may well be placing such bet in the $50k to $300k arena, and maybe you will be correct.. but in the meantime, you ended up missing a lot of upside potential.. 5x to 30x.. or maybe some variation in between..

One of the nice things about recognizing a potential asymmetric bet is that you do not need to risk a whole lot of capital and still be able to profit stupendously, for anyone acting on such information.. including some people who have already been acting on such information and buying BTC in the 3 digits and then even in the 4 digits and still finding significant profits - even through 2019 and 2020.. there had been a decent number of opportunities to buy and to now be sitting in very good profits - whether choosing to realize such profits or to let them ride.. or some incrementalism variation.
I won't take pleasure in guys losing their wealth; it is simply an inevitability in any Ponzi scheme of this nature.  I wish I were wrong, but BTC is ultimately a zero sum game pure and simple.

I would be ok with guys taking periodic profits at times like the present, but guys who are "all in" for the long haul just perplex me when they could be expanding their wealth in so many better ways.


RE: The Bitcoin Thread (price and other bitcoin related topics) - JayJuanGee - 08-02-2020

(08-02-2020, 05:55 AM)Contrarian Expatriate Wrote:
(08-02-2020, 05:40 AM)JayJuanGee Wrote:
(08-02-2020, 05:31 AM)Contrarian Expatriate Wrote:
(08-01-2020, 08:20 PM)billydingdong Wrote: I'm sure you also believe MySpace is playing a similar long game and will overtake Facebook and all the other social media any time  Wink

I like that MySpace comparison.  But I think part of freedom is the freedom to lose one's wealth in the latest Greater Fool Theory schemes that depend on a continuous stream of more "investors" until the bottom falls out.

You are going to have a lot of pleasure watching that play out.  Sounds like a potential short position to get even more pleasure out of putting actual value on what you purportedly believe.

Yes.. I thought so.. you are all talk, and you really do not believe what you are saying

One of the funny things is that if you are going to bet down on Kingdaddy and have some meaningful potential of being correct about such bet, you likely will need to wait for a while, maybe 1 year or maybe 18 months.   I don't know the timeline nor the price exactly either, but you may well be placing such bet in the $50k to $300k arena, and maybe you will be correct.. but in the meantime, you ended up missing a lot of upside potential.. 5x to 30x.. or maybe some variation in between..

One of the nice things about recognizing a potential asymmetric bet is that you do not need to risk a whole lot of capital and still be able to profit stupendously, for anyone acting on such information.. including some people who have already been acting on such information and buying BTC in the 3 digits and then even in the 4 digits and still finding significant profits - even through 2019 and 2020.. there had been a decent number of opportunities to buy and to now be sitting in very good profits - whether choosing to realize such profits or to let them ride.. or some incrementalism variation.
I won't take pleasure in guys losing their wealth; it is simply an inevitability in any Ponzi scheme of this nature.  I wish I were wrong, but BTC is ultimately a zero sum game pure and simple.

I would be ok with guys taking periodic profits at times like the present, but guys who are "all in" for the long haul just perplex me when they could be expanding their wealth in so many better ways.

You are talking about me?

You believe that I have too many profits "on paper" rather than realized?

Do you know enough details?

Do you believe that someone who has something like 16x in profits over 6 or so years, needs to take profits rather than letting most if not all of the profits ride?

There are all kinds of theories about managing investing including theories that allow some winners to ride, and for some reason you believe that you are smarter than everyone else on the bitcoin topic, and it just seems strange that you feel some kind of inclination to participate in this thread when it really seems that you do not know what you are talking about.

The actual data does not even support your nonsense theory about bitcoin being a ponzi scheme.

There seems to be a lot of data to show a very large number of longer term bitcoin holders that do not sell much if any of their coins, so there is a kind of holders of last resort kind of principle going on in bitcoin rather than holders who are actually anxious to sell to some later sucker as you seem to be arguing those kinds of ideas that do not really have facts to back them even if they might seem good on paper.

So, related to the whole tendency that bitcoin holders tend to hold their coins is that the halvening had caused a cutting of the new bitcoin supply by half, but there seems to be a decent amount of evidence that  demand is largely staying steady and perhaps even increasing.. which surely is ongoingly creating buy pressures, and unless you get your smart ass into investing into bitcoin  (which sure you claim to NOT be investing in bitcoin) then it seems that a lot of bitcoin holders are going to be laughing at you, rather than the other way around.  

Are you still waiting for $20k before you take BTC seriously, or do you want to change the terms of your interest, once again.  Not that I give any shits about your actually taking any bitcoin position.. because you want to argue that there is some kind of superior investment out there.. do you have a link to your other thread on the topic, yet?

or you just want to continue to theorize with ongoingly wrong predictions in this thread?


RE: The Bitcoin Thread (price and other bitcoin related topics) - JayJuanGee - 08-05-2020

Here's a link to a thread the top 100 days BTC price list that had originated in January 2013 as a top 20 days BTC price list (and only listing USD/BTC pair in the beginning... and expanding in recent times in terms of number of days listed expanding to an additional 4 fiat/BTC currency pairs listed.

In this latest BTC price surge USD/BTC prices have been back in the top 100 for this particular price cycle for the past eight days - reaching 59th place on August 1 with the USD/BTC pair price of $11,631.  

Today's USD/BTC pair was top 86 at a daily trade volume weighted average of $11,216.


RE: The Bitcoin Thread (price and other bitcoin related topics) - JayJuanGee - 08-05-2020

I will label this below linked audible as a more or less beginner level bitcoin podcast, even though Guy Swan, the narrator, does sometimes speak in terms of more advanced ideas.. 



Read_425 - If You Only Read One Thing Before Buying Bitcoin… [Sylvain Saurel]

August 4, 2020

[url=https://overcast.fm/+MYnwtQ58w][/url]
[Image: 811644?6]

Guy Swan reads a lot of great bitcoin articles, so he has a series of a lot of great articles that he has read over the years, and frequently comments on them, too... I don't always agree with everything that he says, but he generally is a genuine guy with a goal of sharing mostly bitcoin-focused information.. and making sure to bash on the shitcoins, which any real bitcoin-focused guy (or person) needs to do on a regular basis... ...   Wink