[ARCHIVED THREAD] - BREAKING: Bitcoin falls to $7,365 on 2/5 (Page 24 of 30)
| The more times you see "new normal", the more likely it is to be time to sell. |
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Quoted: Some are being utilized as incentive to provide a secure decentralized network upon which perfect accounting of products, money, records, etc. Can be maintained. |
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Quoted: The tech is something new that most arent comfortable and or familiar with. Digital scarcity. Its used as a means of incentive to run a decentralized (secure) network. The larger the network, the more users seeking the platforms function, the more scarce the resource to run the network becomes. Value increases. Why run and maintain your own server when you can have 10000s of backups worldwide which are perfectly accounting for you and your product? If i have a node for a block chain network and I maintain it because it generates a scarce network resource... Then by running a node i increase the network strength and in return i generate the fuel that the network requires to make changes. You see this isnt like a stock or bond, but the security of the network has value to business and to those who maintain it. Are there interesting and novel applications for which blockchain fills a need? Absolutely. But 99% of the use cases I hear, my immediate thought is you could do this much easier and cheaper with a database and an OLTP application on top of it, no blockchain needed. Even the smart contracts stuff - if I hear one more person giving me the example of renting an apartment and having a smart contract automatically give me a key when the payment is received I'm going to strangle someone. Congratulations, you just automated the easiest step in the process while literally ignoring every other aspect of the transaction that makes automation difficult. |
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What incentive do the adopters of blockchain have to utilize an existing token? Why not rollout a shinny new token with their decentralized network? Quoted:
Quoted: Some are being utilized as incentive to provide a secure decentralized network upon which perfect accounting of products, money, records, etc. Can be maintained. To that point, tokenization is worthless on most blockchain projects. |
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Decentralization is valued by the individual, not the corporation (which will always prefer centralized control). To that point, tokenization is worthless on most blockchain projects. Quoted:
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Quoted: Some are being utilized as incentive to provide a secure decentralized network upon which perfect accounting of products, money, records, etc. Can be maintained. To that point, tokenization is worthless on most blockchain projects. |
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lol, invest in fake underground currency just to immediately pull out and convert in to real currency. SHAM. Cryptocurrency, while it obviously has real world value to some, simply does not have an actual real world value. Quoted:
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Quoted: Some are being utilized as incentive to provide a secure decentralized network upon which perfect accounting of products, money, records, etc. Can be maintained. To that point, tokenization is worthless on most blockchain projects. I enjoy hearing counter opinions, jump in the deep end and let us learn something. |
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So how do those projects incentivise processors to come online? Quoted:
Quoted: Decentralization is valued by the individual, not the corporation (which will always prefer centralized control). To that point, tokenization is worthless on most blockchain projects. |
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Don't care It wasn't going to last forever. I played around in the market for grins but always got back into USD making little gains here and there. No delusions of a Lamborghini here |
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You are obviously pretty passionate about the fact that they are doomed to fail, but you have so far provided very little evidence beyond stating standard lines of “sham”, “fake”,etc. I enjoy hearing counter opinions, jump in the deep end and let us learn something. Quoted:
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Quoted: Some are being utilized as incentive to provide a secure decentralized network upon which perfect accounting of products, money, records, etc. Can be maintained. To that point, tokenization is worthless on most blockchain projects. I enjoy hearing counter opinions, jump in the deep end and let us learn something. |
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lol, invest in fake underground currency just to immediately pull out and convert in to real currency. SHAM. Cryptocurrency, while it obviously has real world value to some, simply does not have an actual real world value. Quoted:
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Quoted: Some are being utilized as incentive to provide a secure decentralized network upon which perfect accounting of products, money, records, etc. Can be maintained. To that point, tokenization is worthless on most blockchain projects. Real world value that might save you or someone you love http://folding.stanford.edu/ |
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Some aren’t even currency. Real world value that might save you or someone you love http://folding.stanford.edu/ Quoted:
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Quoted: Some are being utilized as incentive to provide a secure decentralized network upon which perfect accounting of products, money, records, etc. Can be maintained. To that point, tokenization is worthless on most blockchain projects. Real world value that might save you or someone you love http://folding.stanford.edu/ |
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I already posted a good reason why it's nothing more than a ponzi scheme as it sits on one of the last 2 pages. In it's current form, bitcoin is 100% doomed to fail as an investment portal. Quoted:
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Quoted: Some are being utilized as incentive to provide a secure decentralized network upon which perfect accounting of products, money, records, etc. Can be maintained. To that point, tokenization is worthless on most blockchain projects. I enjoy hearing counter opinions, jump in the deep end and let us learn something. |
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Quoted: I already posted a good reason why it's nothing more than a ponzi scheme as it sits on one of the last 2 pages. In it's current form, bitcoin is 100% doomed to fail as an investment portal. |
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Is the basis of a ponzi “paying old investors with the money you get from new investors”? Quoted:
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Quoted: Some are being utilized as incentive to provide a secure decentralized network upon which perfect accounting of products, money, records, etc. Can be maintained. To that point, tokenization is worthless on most blockchain projects. I enjoy hearing counter opinions, jump in the deep end and let us learn something. "a form of fraud in which belief in the success of a nonexistent enterprise is fostered by the payment of quick returns to the first investors from money invested by later investors." The ones that have been in this have duped a lot of people in to investing money, some made a little, most are going to lose their asses off. The original investors? They made out quite well already. You couldn't nail down a ponzi scheme any better than what has gone on with BitCoin. |
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This is a bitcoin ("investment") thread though. The actually technology CAN be useful, just not for this now overblown and no longer underground "cryptocurrency". If someone wants to start a company where they group computers together for the sole purpose of that and take it public, let me know and I'll invest. Or if it's already gone public, I'll throw some good money in to it. Quoted:
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Quoted: Some are being utilized as incentive to provide a secure decentralized network upon which perfect accounting of products, money, records, etc. Can be maintained. To that point, tokenization is worthless on most blockchain projects. Real world value that might save you or someone you love http://folding.stanford.edu/ |
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Interesting how you keep redefining your argument to have a narrower and narrower scope. Quoted:
Quoted: I already posted a good reason why it's nothing more than a ponzi scheme as it sits on one of the last 2 pages. In it's current form, bitcoin is 100% doomed to fail as an investment portal. |
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Check out Siacoin. Not the same but you might like it. Quoted:
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Quoted: Some are being utilized as incentive to provide a secure decentralized network upon which perfect accounting of products, money, records, etc. Can be maintained. To that point, tokenization is worthless on most blockchain projects. Real world value that might save you or someone you love http://folding.stanford.edu/ |
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Quoted: In case you weren't sure, this is the definition of a ponzi... "a form of fraud in which belief in the success of a nonexistent enterprise is fostered by the payment of quick returns to the first investors from money invested by later investors." The ones that have been in this have duped a lot of people in to investing money, some made a little, most are going to lose their asses off. The original investors? They made out quite well already. You couldn't nail down a ponzi scheme any better than what has gone on with BitCoin. Me = don't know enough about Bitcoin or crypto currencies to even out talk a grade schooler... but the whole thing just wreaks of Ponzi when you look at it as a whole You are never holding anything of value in your hand, its all smoke and mirrors intangible holdings of some mysterious currency that is the newest and latest and greatest thing that nobody else really knows anything about either. Modern day snake oil salesman rode the hype like a magic carpet ride and the greed of the common man who wanted to cash in on something too good to be true was his demise, I do not wanna see anyone get hurt - lose money etc ... But I see this bit coin falling and falling and falling some more. Will it ever go to true zero and become absolutely worthless ? I doubt it - is it going to sub $1000 ?? yes I think it will. And that really sucks for everyone who bought in the last 30-60-90 days looking to make a killing and likely losing nearly all of their original investment. Just my speculation - I am just stating my hunches on what I see - have seen and expect to see. |
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Its fun to read these threads.
I get it that understanding bitcoin isn't the easiest thing in the world but its sweet to see some of you guys try. You're glad that its going down, angry when it goes up, happy when someone loses money, angry again if someone makes it, etc. 
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Pretty much my thoughts on it also Me = don't know enough about Bitcoin or crypto currencies to even out talk a grade schooler... but the whole thing just wreaks of Ponzi when you look at it as a whole You are never holding anything of value in your hand, its all smoke and mirrors intangible holdings of some mysterious currency that is the newest and latest and greatest thing that nobody else really knows anything about either. Modern day snake oil salesman rode the hype like a magic carpet ride and the greed of the common man who wanted to cash in on something too good to be true was his demise, I do not wanna see anyone get hurt - lose money etc ... But I see this bit coin falling and falling and falling some more. Will it ever go to true zero and become absolutely worthless ? I doubt it - is it going to sub $1000 ?? yes I think it will. And that really sucks for everyone who bought in the last 30-60-90 days looking to make a killing and likely losing nearly all of their original investment. Just my speculation - I am just stating my hunches on what I see - have seen and expect to see. Quoted:
Quoted: In case you weren't sure, this is the definition of a ponzi... "a form of fraud in which belief in the success of a nonexistent enterprise is fostered by the payment of quick returns to the first investors from money invested by later investors." The ones that have been in this have duped a lot of people in to investing money, some made a little, most are going to lose their asses off. The original investors? They made out quite well already. You couldn't nail down a ponzi scheme any better than what has gone on with BitCoin. Me = don't know enough about Bitcoin or crypto currencies to even out talk a grade schooler... but the whole thing just wreaks of Ponzi when you look at it as a whole You are never holding anything of value in your hand, its all smoke and mirrors intangible holdings of some mysterious currency that is the newest and latest and greatest thing that nobody else really knows anything about either. Modern day snake oil salesman rode the hype like a magic carpet ride and the greed of the common man who wanted to cash in on something too good to be true was his demise, I do not wanna see anyone get hurt - lose money etc ... But I see this bit coin falling and falling and falling some more. Will it ever go to true zero and become absolutely worthless ? I doubt it - is it going to sub $1000 ?? yes I think it will. And that really sucks for everyone who bought in the last 30-60-90 days looking to make a killing and likely losing nearly all of their original investment. Just my speculation - I am just stating my hunches on what I see - have seen and expect to see. If you don’t know how something works (including ponzis, apparently), don’t make grand proclamations on future performance. Look up Bitconnect if you want to see how a ponzi works in crypto. |
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Quoted: Pretty much my thoughts on it also Me = don't know enough about Bitcoin or crypto currencies to even out talk a grade schooler... but the whole thing just wreaks of Ponzi when you look at it as a whole You are never holding anything of value in your hand, its all smoke and mirrors intangible holdings of some mysterious currency that is the newest and latest and greatest thing that nobody else really knows anything about either. Modern day snake oil salesman rode the hype like a magic carpet ride and the greed of the common man who wanted to cash in on something too good to be true was his demise, I do not wanna see anyone get hurt - lose money etc ... But I see this bit coin falling and falling and falling some more. Will it ever go to true zero and become absolutely worthless ? I doubt it - is it going to sub $1000 ?? yes I think it will. And that really sucks for everyone who bought in the last 30-60-90 days looking to make a killing and likely losing nearly all of their original investment. Just my speculation - I am just stating my hunches on what I see - have seen and expect to see. |
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Quoted: Check out Siacoin. Not the same but you might like it. Quoted: Check out Siacoin. Not the same but you might like it. Sia is the first decentralized storage platform secured by blockchain technology. The Sia Storage Platform leverages underutilized hard drive capacity around the world to create a data storage marketplace that is more reliable and lower cost than traditional cloud storage providers. Sia encrypts and distributes your files across a decentralized network. You control your private encryption keys and you own your data. No outside company or third party can access or control your files, unlike traditional cloud storage providers. |
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So my files will be hosted on unused hard drive space on some Russian hacker's PC, some Zimbabwean prince's server, and some chick in Minnesota's iPad? Quoted:
Quoted: Check out Siacoin. Not the same but you might like it. Sia is the first decentralized storage platform secured by blockchain technology. The Sia Storage Platform leverages underutilized hard drive capacity around the world to create a data storage marketplace that is more reliable and lower cost than traditional cloud storage providers. Sia encrypts and distributes your files across a decentralized network. You control your private encryption keys and you own your data. No outside company or third party can access or control your files, unlike traditional cloud storage providers. |
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Its fun to read these threads. I get it that understanding bitcoin isn't the easiest thing in the world but its sweet to see some of you guys try. You're glad that its going down, angry when it goes up, happy when someone loses money, angry again if someone makes it, etc. |
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Quoted: Show me how my original statement differs. I'll wait. Page 21 7:09am you are arguing that the entire crypto currency market is a scam Page 23 2:55pm you are now only referring to Bitcoin specifically and mocking another poster for bringing up alts Page 24 3:47pm you state that Bitcoin in it's current form is doomed to failure as an investment portal Seems to be quite a bit of evolution and hedging going from 'all crypto is a scam' to 'the current form of Bitcoin is doomed as an investment platform' |
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OK Page 21 7:09am you are arguing that the entire crypto currency market is a scam Page 23 2:55pm you are now only referring to Bitcoin specifically and mocking another poster for bringing up alts Page 24 3:47pm you state that Bitcoin in it's current form is doomed to failure as an investment portal Seems to be quite a bit of evolution and hedging going from 'all crypto is a scam' to 'the current form of Bitcoin is doomed as an investment platform' Quoted:
Quoted: Show me how my original statement differs. I'll wait. Page 21 7:09am you are arguing that the entire crypto currency market is a scam Page 23 2:55pm you are now only referring to Bitcoin specifically and mocking another poster for bringing up alts Page 24 3:47pm you state that Bitcoin in it's current form is doomed to failure as an investment portal Seems to be quite a bit of evolution and hedging going from 'all crypto is a scam' to 'the current form of Bitcoin is doomed as an investment platform' |
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Quoted: All your dirty porn and other things you don’t want on your computer. How much redundancy is built in? If the chick from Minnesota drops her iPad into a puddle at the same time the Nigerian prince's server blows a fuse in his hut, do I lose my files? |
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Quoted: This is a bitcoin thread, I even said as much to another poster on a previous page. Where is your confusion? FWIW, I'm sure the other "publicly traded" cryptocurrencies are just as much of a sham as bitcoin. Quoted: This is a bitcoin thread, I even said as much to another poster on a previous page. Where is your confusion? FWIW, I'm sure the other "publicly traded" cryptocurrencies are just as much of a sham as bitcoin. Quoted: If it wants to be legit it’s going to be even lower than that. As it sits, the whole cryptocurrency market is a sham built on very little intrinsic value, that is way too easily manipulated (as if right now it’s literally built on manipulation) . I’d guess the bottom is closer to $250 than it is $1000. A bunch of nerds yelling HODL doesn’t give something value unless others get behind it. Well, people started realizing the sham that it is and down she went. And down she will keep going. Quoted: I already posted a good reason why it's nothing more than a ponzi scheme as it sits on one of the last 2 pages. In it's current form, bitcoin is 100% doomed to fail as an investment portal. |
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No confusion on my part. You started out by calling all of crypto a scam and hedged down. Your original statement is quoted below for your reference. Quoted:
Quoted: This is a bitcoin thread, I even said as much to another poster on a previous page. Where is your confusion? FWIW, I'm sure the other "publicly traded" cryptocurrencies are just as much of a sham as bitcoin. Quoted: If it wants to be legit it’s going to be even lower than that. As it sits, the whole cryptocurrency market is a sham built on very little intrinsic value, that is way too easily manipulated (as if right now it’s literally built on manipulation) . I’d guess the bottom is closer to $250 than it is $1000. A bunch of nerds yelling HODL doesn’t give something value unless others get behind it. Well, people started realizing the sham that it is and down she went. And down she will keep going. But I'll double down. As it sits, the whole cryptocurrency market is a sham built on very little intrinsic value, that is way too easily manipulated (as if right now it’s literally built on manipulation) . Enjoy the ride down, I hope you got out.  Hopefully you didn't convince any friends or family to jump in on the train wreck in the past month. 
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So if Mohammed Bin Allah from Al Qaeda uses Sia to host his terrorist attack plans on my unused hard drive space, does the CIA get to confiscate my PC to analyze it? How much redundancy is built in? If the chick from Minnesota drops her iPad into a puddle at the same time the Nigerian prince's server blows a fuse in his hut, do I lose my files? Quoted:
Quoted: All your dirty porn and other things you don’t want on your computer. How much redundancy is built in? If the chick from Minnesota drops her iPad into a puddle at the same time the Nigerian prince's server blows a fuse in his hut, do I lose my files? Please learn about Blockchain. That will answer all your redundancy questions. |
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Enjoy the ride down, I hope you got out. Hopefully you didn't convince any friends or family to jump in on the train wreck in the past month. |
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You are obviously pretty passionate about the fact that they are doomed to fail, but you have so far provided very little evidence beyond stating standard lines of “sham”, “fake”,etc. I enjoy hearing counter opinions, jump in the deep end and let us learn something. Quoted:
Quoted:
Quoted:
Quoted:
Quoted: Some are being utilized as incentive to provide a secure decentralized network upon which perfect accounting of products, money, records, etc. Can be maintained. To that point, tokenization is worthless on most blockchain projects. I enjoy hearing counter opinions, jump in the deep end and let us learn something. People are so short sighted and incapable of seeing the forest through the trees. |
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You guys think that this is how the stock market works??  Quoted:
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Quoted: Welcome to cryptocurrency, the stock market and capitalism in general. |
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Quoted: It's amazing how these people come out of the wood work to say told you so and haha fake currency. I'm well aware of the high risks and high rewards in crypto. I put money into the market believing in the way it will ultimately shape world exchange. I'm well aware I could be incorrect, but Jesus Christ these people that desire its failure with zero idea how it works or why long-term it has the potential to do so and with such conviction like they're straight from 2030 and know who is the World Series Champ and the color of President Chelseas panties... Amazing. People are so short sighted and incapable of seeing the forest through the trees. It is funny that these same folks probably feel pretty good about their 401k/403bs. Just wait till they realize fiat isn't worth anything more than numbers in a computer. |
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There are alot of folks making bank on all these buy / sell orders - commissions etc ...
So I can see them somehow playing fucky fucky with the price to spur more frenzied buying and selling I couldn't sleep at night right now if I bought into that crazy rollercoaster over the Christmas holiday time frame like I am sure alot of people did when it was sky rocketing I wish everyone the best ... I have a feeling this is something that goes down in financial history as a really bad thing |
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How do you feel about the US Dollar?  Quoted:
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I have a feeling this is something that goes down in financial history as a really bad thing But the greenback and actual US currency ain't going anywhere in our lifetimes. maybe 50-100 yrs from now it is phazed out somehow I see crypto being standardized into approx 1/2 dozen various currencies and regulated and controlled in ways that differ far from what peoples current views of them right now are. Will they still be around 12 months from now ? yes I think they will. There will just be far fewer of the various crypto options and their valkues are going to be hacked to a realistic value that is more inline with pre hype era of 2017. Just my hunch on it ... and trust me, i do not know jack shit on the technical intricacies of BTC, just stating what I foresee as human nature and what the economy and businesses will sustain and accept moving forward |
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You guys think that this is how the stock market works?? Quoted:
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Quoted: Welcome to cryptocurrency, the stock market and capitalism in general. Quoted:
Every profit dollar made trading bitcoin is a dollar that somebody else lost on bitcoin. All you're doing is gambling that you'll be the former, and the longer you've got it the more likely you'll be the latter. |
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Quoted: It's amazing how these people come out of the wood work to say told you so and haha fake currency. I'm well aware of the high risks and high rewards in crypto. I put money into the market believing in the way it will ultimately shape world exchange. I'm well aware I could be incorrect, but Jesus Christ these people that desire its failure with zero idea how it works or why long-term it has the potential to do so and with such conviction like they're straight from 2030 and know who is the World Series Champ and the color of President Chelseas panties... Amazing. People are so short sighted and incapable of seeing the forest through the trees. |
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The entire crypto sphere is an event horizon of compounding fraud. The dumb money that piled into Bitcoin above 10k is going to go to their legislators and demand they do something. They, the regulators, and their corporate finance sponsors will be more than happy to descend on the crypto sphere like Valkyries. Quoted:
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8000, dead stop, and then up? Nah. Nobody is propping BTC up.  The dumb money that piled into Bitcoin above 10k is going to go to their legislators and demand they do something. They, the regulators, and their corporate finance sponsors will be more than happy to descend on the crypto sphere like Valkyries. What do you think they can do? |
| I've been telling you all not to listen to Mcaffee since he showed up. |
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2 for 1 response. If you don’t know how something works (including ponzis, apparently), don’t make grand proclamations on future performance. Look up Bitconnect if you want to see how a ponzi works in crypto. Quoted:
Quoted:
Quoted: In case you weren't sure, this is the definition of a ponzi... "a form of fraud in which belief in the success of a nonexistent enterprise is fostered by the payment of quick returns to the first investors from money invested by later investors." The ones that have been in this have duped a lot of people in to investing money, some made a little, most are going to lose their asses off. The original investors? They made out quite well already. You couldn't nail down a ponzi scheme any better than what has gone on with BitCoin. Me = don't know enough about Bitcoin or crypto currencies to even out talk a grade schooler... but the whole thing just wreaks of Ponzi when you look at it as a whole You are never holding anything of value in your hand, its all smoke and mirrors intangible holdings of some mysterious currency that is the newest and latest and greatest thing that nobody else really knows anything about either. Modern day snake oil salesman rode the hype like a magic carpet ride and the greed of the common man who wanted to cash in on something too good to be true was his demise, I do not wanna see anyone get hurt - lose money etc ... But I see this bit coin falling and falling and falling some more. Will it ever go to true zero and become absolutely worthless ? I doubt it - is it going to sub $1000 ?? yes I think it will. And that really sucks for everyone who bought in the last 30-60-90 days looking to make a killing and likely losing nearly all of their original investment. Just my speculation - I am just stating my hunches on what I see - have seen and expect to see. If you don’t know how something works (including ponzis, apparently), don’t make grand proclamations on future performance. Look up Bitconnect if you want to see how a ponzi works in crypto. |
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Quoted:
So if Mohammed Bin Allah from Al Qaeda uses Sia to host his terrorist attack plans on my unused hard drive space, does the CIA get to confiscate my PC to analyze it? How much redundancy is built in? If the chick from Minnesota drops her iPad into a puddle at the same time the Nigerian prince's server blows a fuse in his hut, do I lose my files? Quoted:
Quoted: All your dirty porn and other things you don’t want on your computer. How much redundancy is built in? If the chick from Minnesota drops her iPad into a puddle at the same time the Nigerian prince's server blows a fuse in his hut, do I lose my files? |
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If something is uploaded to the cloud that is illegal I don’t think they confiscate the cloud. Please learn about Blockchain. That will answer all your redundancy questions. Quoted:
Quoted:
Quoted: All your dirty porn and other things you don’t want on your computer. How much redundancy is built in? If the chick from Minnesota drops her iPad into a puddle at the same time the Nigerian prince's server blows a fuse in his hut, do I lose my files? Please learn about Blockchain. That will answer all your redundancy questions. There is no "cloud", it's just someone else's server that you don't control. |
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It is. Just much slower. In its inception, this is exactly how the stock market worked as people tried to figure it out. Quoted:
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Quoted: Welcome to cryptocurrency, the stock market and capitalism in general. Stocks are bought and sold PRIMARILY based on the underlying financials of the stock itself. Bitcoin has none of that. No balance sheet, no dividends, no income statements, no cash on hand, no assets, no stock buybacks. It's not even an "investment" in the technology, because ownership of the coin doesn't confer any rights what so ever to the technology. When the stock market is in it's most broken and dysfunctional state, it acts like bitcoin; and that should be your first clue. |
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Quoted: Except it's not. People don't buy and sell stocks based purely on a speculation about the price of the stock the next day. Idiots and day-traders do, but that's about it. Stocks are bought and sold PRIMARILY based on the underlying financials of the stock itself. Bitcoin has none of that. No balance sheet, no dividends, no income statements, no cash on hand, no assets, no stock buybacks. It's not even an "investment" in the technology, because ownership of the coin doesn't confer any rights what so ever to the technology. When the stock market is in it's most broken and dysfunctional state, it acts like bitcoin; and that should be your first clue. If someone actually believes cryptocurrency is the future. Stop trying to play it. Accumulate it over time. Buy a set amount, at set intervals, and take the emotion out of it. Buy a set amount each week, or month, and forget about it. The next time it "bubbles" (and given it's history it will) you'll already have a position. You'll already have accumulated a position at the lower average cost basis, and you'll actually experience the upside. Instead of waiting for the next surge in value to get interested, how about buying it slowly as it declines in value. $100 dollars buys twice as much bitcoin as it did a month ago. And who knows, maybe next month $100 buys 20x as much bitcoin. |
[ARCHIVED THREAD] - BREAKING: Bitcoin falls to $7,365 on 2/5 (Page 24 of 30)
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