Bitcoin

Out of context: Reply #1633

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  • ESKEMA1

    I completely disagree with the text above.
    But, one thing is for sure, Bitcoin isn't about daily transactions. The same can be said for gold. Nobody uses it to buy coffee either.
    Bitcoin's place will be to store value, and it's not going to happen before it reaches the 1M+ in 2 or 3 more halvings (halvenings?) The derivatives / margins / futures market is a brutal one, even more when you put nobodies trading against whales / professionals. The market is still minuscule and easily steered towards one whale's actions. The violent moves are expected near the halving because of all the speculation and media attention towards it. Some say it will pump, some say it will dump, the markets play with that.

    Paul Tudor Jones, regarded as one of the best hedge investors just announced he put 2% of its net worth (he's worth 5 Billion) in bitcoin, expect more investors to follow suit. This pandemic really shook the whole financial world, exposed it's cracks, and the crypto landscape has matured enough to be a viable solution.

    You say it lost 60% from feb to march, but in reality, it is up 20% since jan, it already recovered the market crash (which was / is ) a global economic crash of epic proportions never seen by anyone still alive.

    The crypto space is full of shit, but what isn't?

    P.S. The halving takes place every 210 000 blocks (~roughly 4 years, just happened today for the third time), and cuts in half the subsidy paid to miners for minting a block, i.e, every 10 min, a new block is minted, which contains and confirms the new transactions, and for that, the miner gets bitcoin.
    The subsidy reward went from 50btc, 25btc, 12.5btc and is now 6.25btc. Every time this happened, the price pumped to all time highs some time after it (not immediately after, but expect the price to rise in the coming months)

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    • Mate, if "Satoshi" would pull his "bitcoins" today, Bitcoin would crash forever. Get a grip.
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    • The IDEA of Bitcoin is very nice, but the implementation is shit.
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    • Bitcoin is literally the biggest example of sunken cost fallacy ever.
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    • why? you sound like a bitter guy who lost his money trading and blames btc instead of your own faults.ESKEMA
    • the first car wan't that great, the first computer wasn't that great, the early internet wasn't that great, everything in it's early days isn't great. You needESKEMA
    • Invest in tech stocks and gold and hide your money in the Caymans like everybody else, fuck!
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    • to see where it's going, not where it's atESKEMA
    • haha graf you're not wronginteliboy
    • ESKEMA I never traded, I have no "stake" in this shit
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    • inteliboy I'm the real Satoshi lol
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    • then why the hate? really curious..ESKEMA
    • hate may have been thrown out loosely thereESKEMA
    • There is no hate, I'm just telling it like it is.
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    • Btw Satoshi can't really pull bitcoins as he hadn't any in the first place. This is a closed system, "pulling" would cause it to crash as there is no pulling
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    • You guys invest in bitcoin as it were the stocks market, that is NOT the case.
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    • As is if I "invest" 1 billion I bring 1 billion to the system but if I pull I take my billion AND your money if the value is bellow my 1 billion...
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    • So if you invest in bitcoin you basically trap your money...this is why this system is shit.
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    • you're not trapping money, you're exchanging a trap currency for sound money. Fiat is not money, it's a currency.ESKEMA
    • Mate stop it, bitcoin is not currency, $ is currency, if I get it at $1k and I pull at 900 I'm taking $100 out of YOUR money "sucker"!
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    • Investing in bitcoin is like voting for Trump, everybody thought they were making America great again BUT you all got scammed lol
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    • But nobody wants to admit this and cut his loses that's why Trump is still president and bitcoin is down af
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    • Btw also if bitcoin is halving, that means it harder to mint so less ppl buying in on a finite "asset" so how can the value will go up? With what money?
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    • Invest in Nvidia and solar power if you want to see more bitcoin minted...
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    • you're talking things you don't understand. the only people loosing money are the ones who bought above that line: https://thumbs.spee.…ESKEMA
    • and it's not going to be for much longerESKEMA
    • ^^ https://i.postimg.cc…ESKEMA
    • Waiting....judging...
      At what number did you buy? How much you're losing if you pull now?
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    • nah man, I'm not the one judging here. I'm playing defense.ESKEMA
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