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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 - 08-21-2019

Here's a nice little article discussing whether nation-states might be making decisions in regard to directing some of their energy towards bitcoin mining.

https://news.bitcoin.com/will-belarus-be-the-first-country-with-nuclear-powered-bitcoin-mining/


RE: The Bitcoin Thread (price and other bitcoin related topics) - JayJuanGee - 08-25-2019

Here's a retweet from Vijay Boyapati of the bullish case for bitcoin, which is a well-written March 2018 article that is linked within the tweet.

https://twitter.com/Bitcoin/status/1165670171786260496?s=20


RE: The Bitcoin Thread (price and other bitcoin related topics) - JayJuanGee - 08-26-2019

I must mention that it can be a bit ironic to see a lot of BTC price movement that comes right after the closing of the weekly candle, which has actually been a frequent pattern that I had been noticing over the past few months, probably back to April and frequently in a bullish direction too.  

This time, just less than 2 hours ago, as I type, the weekly candle closed, and immediately thereafter, within about 15 minutes, there was a pump from 10,100 to $10,650.. and surely now we are correcting back, and likely several shorts were r3ckt in the process, too, and surely cannot complain about that kind of thing.  Should not be shorting in what surely appears to be a bull market.. hahahahahaha.


Also, below is a link bitcointalk thread that has a lot of good resources for beginner bitcoiners.

https://bitcointalk.org/index.php?topic=5156874.msg51545936#msg51545936


RE: The Bitcoin Thread (price and other bitcoin related topics) - JayJuanGee - 08-26-2019

Here's a couple of links to decent articles (first one from today and the other one a few days ago) describing how bitcoin's market dominance is likely to be closer to 90% rather than 70% if you are really taking into account trade volume and liquidity rather than merely looking at market capitalization which is a metric that can be manipulated by playing around with supply and other shenanigans.

These are not new concepts, but it is still nice to see them outlined in recent articles.

https://cointelegraph.com/news/bitcoin-bombshell-libra-rivals-twitter-spats-hodlers-digest-aug-1925



https://cointelegraph.com/news/bitcoin-dominance-is-actually-above-90-new-research-suggests


RE: The Bitcoin Thread (price and other bitcoin related topics) - SpecialEd - 08-27-2019

Btc update:

Price hasn't remained completely static vs. the dollar. Some blow hard made a bearish prediction. A shitcoin gained 10% on btc but this undoubtedly wont last.

Did I miss anything?


RE: The Bitcoin Thread (price and other bitcoin related topics) - JayJuanGee - 08-27-2019

(08-27-2019, 07:03 AM)SpecialEd Wrote: Btc update:

Price hasn't remained completely static vs. the dollar. Some blow hard made a bearish prediction. A shitcoin gained 10% on btc but this undoubtedly wont last.

Did I miss anything?

Of course, there are thousands of shit coins, and from time to time, some of them are going to pump, and they might even be able to sustain a pump for a decently long period of time against bitcoin in part due to their relatively lower market cap, but also sometimes, they might have pump communities too that might be able to help to get a larger number of people to buy into their likely ponzi scheme / snake oil salesman type of hype.

Personally, I believe that guys are getting distracted by getting involved in any of those kinds of other than bitcoin crypto investments, yet even in 2017, there were a decently large number of them that outperformed btc for a decently long period of time, but guys still would have needed to have some informed ideas about when to get out of them, otherwise it would have just been better to stay focused on bitcoin and to stay in bitcoin.

Guys are also going to do what they like in terms of their shitcoin investments, and sometimes brag the fuck during the times that their chosen shitcoin is temporarily outperforming bitcoin.  Those shitcoin's also have a variety of talking points that rely on a number of supposed deficiencies in bitcoin and to suggest  that their coin is fulfilling such supposed deficiencies, and they have been doing these kinds of things for years.  Up to you, if you buy into that bullshit or just keep yourself focused on creating a plan that involves accumulating bitcoin - and not necessarily involving getting involved in a bunch of bullshit altcoin distractions.

Do you have any bitcoin investing plan special ed?  I would suggest that any guy just dedicate a decent amount of his investment 1% to 10% of his total investment in bitcoin, and within that bitcoin allocation, sure, if you are tempted to play around with shitcoins, then maybe you can play around with up to 10% of the part that you already have allocated to bitcoin, even that seems like too much to me, but I know that guys have some irresistible urges to gamble and they also play around with way the fuck more than what I would ever recommend, and sometimes they might end up being able to prosper in a way that is better than my more conservative approach, but I don't know too many people who are doing better than me who also have a more gambling tendency than me.. which like I said I consider myself fairly conservative and recommend between 1% and 10% of your quasi-liquid investment to go into bitcoin, even though personally I had done close to 14% in that direction, and mine has appreciated quite a bit more than 50% of my total holdings, currently... but I did not start out investing more than 50%, I had only done the about 14%, like I mentioned.

Anyhow, even if you have a somewhat limited budget or even an uncertain cashflow, you can figure out some ways to stack away some sats which also would involve getting the rest of your budgeting matters in order in order to figure out what kind of levels of investing into BTC would be prudent for your own situation.


RE: The Bitcoin Thread (price and other bitcoin related topics) - SpecialEd - 08-27-2019

If just liquid assets, I'm well over 10% in btc. It's really a no brainer if the alternative is worthless fiat.

I think most coins are shit. There's just 1 or 2 exceptions, namely monero. Much of BTC's initial appreciation was due to its use on darknet markets. This was well before casual investors like yourself even knew what it was. Nowadays, monero is becoming the favored currency in that part of the web. Anonymity will always have niche demand. So it's a solid bet. But I think BTC is the grandaddy crypto and will always dominate the market.


RE: The Bitcoin Thread (price and other bitcoin related topics) - JayJuanGee - 08-27-2019

(08-27-2019, 04:02 PM)SpecialEd Wrote: If just liquid assets, I'm well over 10% in btc. It's really a no brainer if the alternative is worthless fiat.

I think most coins are shit. There's just 1 or 2 exceptions, namely monero. Much of BTC's initial appreciation was due to its use on darknet markets. This was well before casual investors like yourself even knew what it was. Nowadays, monero is becoming the favored currency in that part of the web. Anonymity will always have niche demand. So it's a solid bet. But I think BTC is the grandaddy crypto and will always dominate the market.

Sure it is possible that Monero could form a bit of a niche in the area of privacy, but I would not necessarily bet on it, even if it were to end up being actually technologically better than bitcoin in that direction.  

As you likely realize there is a lot of power in a network effect and the power of a certain amount of anonymity in numbers.  So, in that regard, some of the second layer bitcoin privacy approaches might end up allowing for a sufficient amount of additional privacy without necessarily drawing attention to yourself about using those bitcoin second layer features.  

Furthermore, some of the too much obscurity that might be involved in having a whole hell of a lot of privacy on layer one, could cause both verification difficulties regarding the ability of a lot of users or supporters of the network to make sure that no shenanigans are going on through the obscurity, and also might be perceived by governments as a kind of magnet because of the base layer focus on obscurity.. but sure, who knows.  There are certainly worse shitcoins out there.   

Hopefully, you also understand that the success of Monero seems quite likely to be largely riding on the coattails of the success of bitcoin, and sure it could be possible that Monero could decorrelate itself from bitcoin, but so long as only a smaller portion of your crypto related investment is in Monero, then you could be engaging in a relatively prudent bet that seems to be based on mere additional risk beyond bitcoin.  This would not likely be the place to get too much into the weeds of Monero, but I can recognize that you might consider some differing opinion that values in a bit of branching out from bitcoin.


RE: The Bitcoin Thread (price and other bitcoin related topics) - JayJuanGee - 08-29-2019

Below is a link to a nice article under the meme - "Bitcoin fixes this"  - hahahahaha becoming a new meme in the space... 

And really the verification of the authenticity and quantity, etc of bitcoin is way easier than the verification of gold.

https://cointelegraph.com/news/bitcoin-fixes-this-thousands-of-fake-gold-bars-dilute-market-supply


RE: The Bitcoin Thread (price and other bitcoin related topics) - JayJuanGee - 08-29-2019

Here's one of those examples of a supposedly smart person (because she is rich) considering bitcoin as her worst investment.  Probably because she neither knows shit about it, and neither she nor her buddies can do anything to control the price direction of honey badger bitcoin.   hahahahaahaha


https://coinnounce.com/richest-woman-in-south-africa-considers-bitcoin-as-her-worst-investment/


RE: The Bitcoin Thread (price and other bitcoin related topics) - JayJuanGee - 08-31-2019

Surely BTC mining difficulty is continuing to go up, and here is a tweet thread on the topic.

https://twitter.com/bitcoin/status/1167462617515872257?s=21
[Image: EDOpD8XU0AAvitI?format=png&name=small]
You can confirm the difficulty at blockchain.com

https://www.blockchain.com/charts/difficulty?timespan=2years&daysAverageString=7

You can choose the time period to look at all time levels or merely in the past 30days, year or two years.

You can also look at other charts, such as mining distribution 

https://www.blockchain.com/pools

Distribution seems to becoming more and more dispersed - which is likely a strength..  even comparing to what is going on in various shitcoins and their levels of centralization.

and two years (or whatever else you choose) of hashrate.

https://www.blockchain.com/charts/hash-rate?timespan=2years

Quite healthy too, and increasing.  Lot's of computing power continues to get thrown at BTC.

All of these matters are quite strong in Bitcoinlandia.


RE: The Bitcoin Thread (price and other bitcoin related topics) - JayJuanGee - 09-01-2019

I don't know how many of us currently participating in this forum (or this thread... is it just me?  hahahahaha) plan to still be alive in 60 years (I am planning on being dead by then), but an interesting tweet is linked below projecting the next 60 years in bitcoin.

https://twitter.com/alexanderjest/status/1168149294878253056?s=21


[Image: EDYZlT4XYAAD8_d?format=jpg&name=small]

By the way, just in case some of you guys have not realized, we do not need to live another 60 years, in order to personally benefit from Bitcoin's likely price trajectory.. in the short to medium term.. even in the next 2 - 5 - 10 years, price matters seem to be quite decent for bitcoin accumulators and HODLers.


RE: The Bitcoin Thread (price and other bitcoin related topics) - JayJuanGee - 09-01-2019

Here's an interesting recent announcement in Brazil regarding payments processing to start in mid-October accepting bitcoin.... 

From the article, the details are unclear, because article mentions "crypto" which could mean something beyond bitcoin, which might cause a good idea to turn into something "dumb".... hahahahahaha

https://twitter.com/crypto_fring/status/1168152188566364160?s=21


RE: The Bitcoin Thread (price and other bitcoin related topics) - JayJuanGee - 09-02-2019

Could we be going here, in the chart of the tweet?  Inquiring minds want to know.

https://twitter.com/inmortalcrypto/status/1168215051385430016

[Image: EDZVZOgXoAIKY6J?format=png&name=small]


RE: The Bitcoin Thread (price and other bitcoin related topics) - JayJuanGee - 09-02-2019

Here's an interesting tweet regarding the meaning of the theory of Bitcoin's stock to flow ratio, as a BTC price predicting mechanism - at least a kind of guideline.

https://twitter.com/100trillionUSD/status/1168270821216935936

[Image: ?u=https%3A%2F%2Fi.imgur.com%2FKD2BOyF.p...f0p8Ulq7zw]


RE: The Bitcoin Thread (price and other bitcoin related topics) - JayJuanGee - 09-04-2019

Bitcoin has had an interesting price run on September 3, since 2011.   Every year has been decently higher than the previous year, except for 2014.

 [Image: ?u=https%3A%2F%2Fpbs.twimg.com%2Fmedia%2...sL-ZMBn1qg]


By the way, the price in 2010 on MTGOX was about 7.5 cents.

https://bitcoincharts.com/charts/mtgoxUSD#rg2zig12-hourzczsg2010-1-1zeg2010-12-31ztgMzm1g10zm2g25zv

But hardly there was any BTC market at all in 2010.


RE: The Bitcoin Thread (price and other bitcoin related topics) - JayJuanGee - 09-04-2019

Below is a link to a nice tweet from Anthony Pompliano and tweet thread discussion therein regarding Japanese leaders.


https://twitter.com/apompliano/status/1168867222908833792?s=21


>>>>>>>Japan’s Financial Services Agency is a big proponent of Bitcoin and Lightning Network.

This is the Agency’s Commissioner (top boss) on the left and the Director of Innovation on the right.

The first country that embraces Bitcoin will have a significant advantage<<<<<<<


[Image: EDiiqhKU4AAHTDU?format=jpg&name=small]


RE: The Bitcoin Thread (price and other bitcoin related topics) - JayJuanGee - 09-04-2019

Here's a nice cocky tweet from American Hodl (or is it hodlamerican?).... 

>>>>>>>>>This is dedicated to the weak hands

I have 87 more BTC than I did in December 2017

Without you, none of this would have been possible

Thank you for the once in a lifetime discount

Oh and don’t worry about your coins

They’re safe with me

I just know how to hodl them better<<<<<


Though he get's some shit in the thread for having had previously asserted that all the BTC that you need is 6.15.. and obviously 87 is more than 6.15.

https://twitter.com/hodlamerican/status/1168831256135471104?s=21


RE: The Bitcoin Thread (price and other bitcoin related topics) - JayJuanGee - 09-04-2019

Gosh... lot's of great tweets out there in recent times.  Instead of blue pill and red pill, we now have orange pill (which  is BTC, by the way):

https://twitter.com/LuchoPoletti/status/1168903726658138113

[Image: EDjHvOaXUAEjtFq?format=jpg&name=900x900]


RE: The Bitcoin Thread (price and other bitcoin related topics) - SpecialEd - 09-04-2019

*Yawn*