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What about Bitcoin... :)

  • #381
  • Edited 1:00am May 10, 2019 12:42am | Edited 1:00am
Quoting MtDarkness
{quote} One thing we can agree on is that it's probably going to 0.

One day, there will no longer be any bitcoins made and then no reason to mine it. Then the whole thing comes crashing down.... ttoms.
Really?

See previous post

Oh boy, the craziness

So when no mining NEW bitcoin it goes to zero??? Duhhhh. transaction fee.

that's not your crooked bank that can "mine" toilet paper 50 billion a day????????

Is that like the Ferrari Enzo or that little car "Bugatti" of 2010-18????
They are no more in production .....so price zero?????

I just saw Ferrari Enzo or whatever for $0.5

Should I wait to crash moooooore

Right ,bitcoin will go to zero - with actually 4 zeroes then 5 zeroes and little 1 in front.

Bye bye

Ohhhh some old posters. See which is you
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Beware of robber banks (RB), bad advisors.
  • #382
  • May 10, 2019 12:46am May 10, 2019 12:46am
No offence anybody

We can't be all smart

Ohhhhh 2016, 2017 was cheap bitcoin
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Beware of robber banks (RB), bad advisors.
  • #383
  • May 10, 2019 12:58am May 10, 2019 12:58am
I forgot to say, for serious discussion, here

https://www.forexfactory.com/showthr...8#post12264388

Whole bunch of info, charts, principles...
Beware of robber banks (RB), bad advisors.
  • #384
  • Edited 4:21am May 10, 2019 1:40am | Edited 4:21am
I guess is a great victory for the guys who bet all in crypto because bitcoin has not reached zero.
This makes seem insignificant the collapse from 20K ...if you try so hard to kid yourself.

Inflation is not caused by the current monetary system.
Is a normal phenomenon:
- because business' economic normal development ...
- or bad administration of the institutions in poor countries.
Bitcoin can't be the solution for everything
Bitcoin will make it even worse for the society as a whole.
Member
  • #385
  • Edited 2:31am May 10, 2019 1:40am | Edited 2:31am
6300. Ok, so far so good ...but that doesn't proove bitcoin will not be dumped from 20K again, buying for some a Ferrari and robbing the others.
They deserve it. There can't be any crooks if there are no stups
Member
  • #386
  • Edited 4:25am May 10, 2019 2:11am | Edited 4:25am
Crypto evanghelists are essentially con artists who are deluding themselves and the others.
You can see the Not-KPMG obsessive manner who sounds like a sick, addicted crypto-gambler.

A very dangerous form of crypto market manipulation is through the use of paid shills (Not-KPMG, sidhujag...)
shill = an accomplice of a confidence trickster or swindler who poses as a genuine customer to entice or encourage others.
So-called influencers in the cryptocurrency space can have large audiences who trust them and who are willing to invest in their suggestions.

If this happens on large scale (Telegram private chats) it can cause those visible price spikes on bitcoin, ...before the massive sales.
Nothing new under the sun, the 20000 crash is the living proof of how this pseudo-asset works for the crypto-swindlers.
Member
  • #387
  • May 10, 2019 2:15am May 10, 2019 2:15am
anyone have thoughts on bitcoin after the news of the hacking loss???
  • #388
  • May 10, 2019 2:16am May 10, 2019 2:16am
Some try to induce the idea that bitcoin can solve all the problems of this world
It can't.
Why?
Because:
- bitcoin can't scale efficently,
- is too vulnerable to massive manipulation,
- is way too volatile to be a stable store of value (hodl)
Member
  • #389
  • May 10, 2019 2:29am May 10, 2019 2:29am
This dude (the noisy one with the pictures) - I know a lot of people with some wealth (even acquired from markets), but I’ve never seen someone to talk so much crap about something. The only guys I’ve see not stopping to talk about specific markets are the ones that lost a lot - in house flipping, stocks before 2007-08 and recently - crypto “investors”.
  • #390
  • Edited 2:50am May 10, 2019 2:37am | Edited 2:50am
Quoting michaelpelly
This dude (the noisy one with the pictures) - I know a lot of people with some wealth (even acquired from markets), but I’ve never seen someone to talk so much crap about something. The only guys I’ve see not stopping to talk about specific markets are the ones that lost a lot - in house flipping, stocks before 2007-08 and recently - crypto “investors”.
Actually, this Not-KPMG clown was the first "clue" which made me skeptical about crypto years ago! LLLMAO
They are actually hurting the crypto space! Stupid, noisy, explosive, show off, vanity, pomposity, arrogance, ...they lead more to lack of credibility of everything around them ...such influencers don't deserve their pay!
Member
  • #391
  • May 10, 2019 3:08am May 10, 2019 3:08am
Quoting ChristinaL
anyone have thoughts on bitcoin after the news of the hacking loss???
Good point!
Large scale security breaches on cryptocurrency exchanges, is a major weakness of the cryptocurrencies!

Well, only 7000 bitcoins ($40M) stolen from Binance ...is nothing
The hackers used a “variety of techniques” including phishing and viruses to obtain a large amount of user data.........

OMG, so much for the crypto-Universe super-safety security myth!
Member
  • #392
  • Edited 6:40am May 10, 2019 3:22am | Edited 6:40am
Quoting TudorIoan
{quote} Good point! Large scale security breaches on cryptocurrency exchanges, is a major weakness of the cryptocurrencies! Well, only 7000 bitcoins ($40M) stolen from Binance ...is nothing The hackers used a “variety of techniques” including phishing and viruses to obtain a large amount of user data......... OMG, so much for the crypto-Universe super-safety security myth!
Not to mention Quantum Computers (on Shor's algorithm) now can break any sophisticated encryption way much faster than anyone thought so far.
Well, yes, agree, breaking the crypto-holy-gospel-ledger, hackers or governamental agencies de-mining, will be also a long-period proces ...but just a matter of time
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Member
  • #393
  • Edited 1:05pm May 10, 2019 4:45am | Edited 1:05pm
Quoting ChristinaL
anyone have thoughts on bitcoin after the news of the hacking loss???
You call 8000 bitcoin loss THE LOSS????



It's peanuts. Now . Exchange pays ALL!!!!! Duuuhhhh

It's nothing.

Do people eve understand that EXCHANGES ARE LIKE BANKS (thieves....fees....Quadringa ....).

Let more exchanges be hacked, let Tether go down to 8 cents..

Then true CRYPTO will fly.....

So whatever loss of crooks - better for us Bitcoin HOLDERS


No wonder stupid people misquote me - lemme tell it straight - lost bitcoins in this exchange are insured, protected and paid/refunded by the exchange !!!
Only silly street walkers think an EXCHANGE operate like communist business .
Insurance .!!!
And profits of about 0.1-1 million bucks a day.
So yes exchanges suck!!



Quadringa was different - idiots left there 50000 bitcoins (how stupid) and pooooof it's gone

Lessons learned
Beware of robber banks (RB), bad advisors.
  • #394
  • Edited 6:00am May 10, 2019 5:45am | Edited 6:00am
Quoting Not-KPMG
{quote}< You call 8000 bitcoin loss THE LOSS????It's peanuts. It's nothing. Do people eve understand that EXCHANGES ARE LIKE BANKS (thieves....fees....Quadringa ....) Let more exchanges be hacked, let Tether go down to 8 cents..Then true CRYPTO will fly..... So whatever loss of crooks - better for us Bitcoin HOLDERS
Where do you sell?
Say it, at what USDollar price will you sell those encrypted files of yours?
...I hope you don't think to take your phone and your hard drive with you in the grave you fake crypto holder!

Come on, be a doll and share with us, where you sell this thing? ...share with us, if you want us to buy!
Otherwise we buy towards 20K ...and you sell at 20K! Are you planning to rob us, you shill?
Please don't say $50M. Try to stay real ...is hard for you, I know ...but try it ...say a decent number ...just for fun, of course

PS, BTW, they have stolen crypto of $40M out of the people's wallets! ...is hard to steal that amount of infamous fiat dollars right out of someone's wallet!
Oh, were those bitcoin under any insurance? Oh, excuse me, what insurance company ? Just asking.
Member
  • #395
  • May 10, 2019 8:48am May 10, 2019 8:48am
Quoting TudorIoan
{quote} Not to mention Quantum Computers (on Shor's algorithm) now can break any sophisticated encryption way much faster than anyone thought so far. Well, yes, agree, breaking the crypto-holy-gospel-ledger, hackers or governamental agencies de-mining, will be also a long-period proces ...but just a matter of time https://www.youtube.com/watch?v=lvTqbM5Dq4Q
Point is:

Encrypting data never was a guarantee of protection actually.
It was just a way to make it harder to access.
Hopefully enough harder that no one thinks is worth trying.

But now the quantum computation has the potential to make it super-super easy to access encrypted data - like having a lightsaber you can use to cut through any lock or barrier, no matter how strong.

Shor's algorithm is that saber.
Member
  • #396
  • May 11, 2019 6:17am May 11, 2019 6:17am
Look, whales, whales!
Bitcoin right on schedule.
6000 - 7500 minor range problem... but will pass
I estimate the first major flash crash at 18500.
Good luck, traders!
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Member
  • #397
  • May 11, 2019 7:28am May 11, 2019 7:28am
Bitcoin is still below the 23.6%-retracment.

Sixer
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  • #398
  • May 11, 2019 7:44am May 11, 2019 7:44am
Quoting Sixer
Bitcoin is still below the 23.6%-retracment. Sixer {image}
Nice Fibo you got there.

I think 7500 is the major resistance.
Back in Nov. 2017 bitcoin also had some pull back there at 7500.
And Sept. 2018 made some nice High at 7500.
If 7500 broken, then 8500 (July, 2018 High) is a pice of cake to get for everybody.
Member
  • #399
  • Edited 8:41am May 11, 2019 8:12am | Edited 8:41am
The real bad news is that the politicians started to catch on the whole point about this cryptocurrency thing.
They just started to understand that they are losing something...
They have realised now they are losing the power!

It's true as a matter of fact.
This crypto-chain-thing is actually the first total independent commercial activity on this planet!
I mean totally!
No governmental control, no banks control, no any authority control, ...no nothing.

Only supply and demand.

Now, if all the people will gradually adopt it, there will be a paralell world growing next to the current world of politics !
A new total planetary revolution, ...well, a total chaos, obviously, but if that makes the small losers happy, it doesn't matter, chaos sounds good!

That's total panic for the politicians!
So, .........it comes natural that they will ban it!

PS. Oh, such a pity, just when the bitcoin needed more to be regulated in order to grow bigger and bigger and bigger
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Member
  • #400
  • Edited 10:06am May 11, 2019 9:55am | Edited 10:06am
Quoting TudorIoan
{quote} A very, very reasonable assessment! Thanks. Why all the crypto freaks can't talk like that?! If Not-KPMG wouldn't go for such a loud, disrespectful and disproportionate reaction against almost everybody who doesn't share his opinion, probably we would still be friends! lol
See attached picture. I was prevented from responding on his thread, I assume he blocked me. Whatever, people get so butthurt when you disagree. And I disagree with everyone at some point because i just call it as I see it. Probably why I have few friends. Lol Oh, well, I'll keep doing me.

Anyhow, I see a big move up on the horizon, sure, especially as the US markets are approaching the downturn of the current economic cycle, but the reality is that eventually, it will go to zero. The number of bitcoins handed out with each successful block completion is halved again and again periodically and eventually, it will be zero. At that point, it is no longer profitable to mine btc, which is what maintains the integrity of the blockchain. So at that point, the whole system comes crashing down because nobody is putting money into mining without a return.
Furthermore, A Ferrari is a physical thing, not an energy dependent system that requires people to invest heavily in technology and electricity to maintain its integrity. I don't understand how someone can't grasp the difference on their own just by looking at the two.

It might reach zero before then, but as with all currencies, it has value as long as others believe it has value. With that said, it is accepted by several major retailers, and makes a good case for taking money away from a corrupt banking system. So I'm all for trading it and using it as a currency... but not as my sole, primary currency. Not yet, maybe not ever.
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Currency is a joke. And that's precisely why I trade it.
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