Bitcoin
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- zaq6
- Ha! yeah right!dbloc
- hhahahaMiguex
- Totally, its going down down down. Thank god I only invested a micro amount on it. People who have invested 1000s$ 2 weeks ago must be crying atmBennn
- hahaprophetone
- drgs7
Orange = SPX
Blue = ponziAre we wasting time trying to predict Bitcoin?
- BTC is a ponzi scheme of sorts - all promise/hype, but nothing to back it beyond more promises, more hype.formed
- def. wasting and destroyng clean air with co2 emissions.neverscared
- section_0143
Maybe I'm just too naive when it comes to cryptocurrency, but are all of these coins anything beyond a bizzaro forex trading platform whose movements are based on memes and twitter posts (or, most likely, based on nothing)?
I know that bitcoin and the like were originally touted as a "decentralized currency", but considering the volatility, how the hell are you supposed to use it for regular commerce in place of the US dollar or euros or whatever?
Just looking at last years charts, if you bought inventory for your widget store in April, you'd have to double prices in July to keep in line with price fluctuation. Which would probably put most businesses out of business.
So, assume that I'm not interested in trading coins to make a buck, or buying shit on the black market. Why would I buy bitcoins to use for regular transactions?
- You wouldn't. It's all a scam.grafician
- I remember people in 1995 asking why anyone would need the internet.Milan
- ah yes, the famous cryptobros comparison between one of the most useful inventions in history and one of the most uselessgrafician
- With internet that question was resolved rather immediately. For bitcoin its still open after 12 years.drgs
- When you compare 1btc against the dollar, you are only looking at it from one direction - that btc has gone up. Perhaps look the other way...shapesalad
- ...the the FED and other CB's have printed incredible unimaginable amounts of Fiat. Increase supply = lower unit price. Dollar has sunk.shapesalad
- Bitcoin has a known limited supply. The fluctuations will calm out over time, the more 1btc cost the more it takes to move price, the hard that becomes.shapesalad
- So to protect yourself from inflation you invest in ponzis? Amazinggrafician
- Also bitcoin is now heuristically seen as a Gold equivalent. A hedging tool. Not a commonly used currency. That all be SOL or ETH or some such.shapesalad
- Seen by whom? turkish lira is like 9 against the dollar - real world case of high inflation, while solana is 200?!
Explain thatgrafician - to be clear, calculating inflation based on a finite supply "currency" versus the dollar then calling the dollar weak is peak moran crypto bros logicgrafician
- You definitely shouldn't be buying crypto for "regular transactions" if you live in the states. It's insane.nb
- comparing with the internet ...lol...neverscared
- drgs7
Mariah Carey buys Bitcoin
https://cointelegraph.com/news/m…Shorted everything
- DRIFTMONKEY7
- Chyna needs to unload and they need cashgrafician
- https://imgflip.com/…jonny_quest_lives
- shapesalad1
@hans_glib
Think less as crypto as 'dodgy' investments in some code/network stuff on internet. Instead see it as a new Technology.
The last new Technology of scale, of global impact and network effect, which was largely unstoppable (see China trying to control it, yet VPNs etc) was the Internet.
It had those on one side saying it'll not replace retail shops, or people calling on phones, meeting their partner at a club or bar, going to the bank to check their balance etc... and on the side of the argument you had those that said 'It's the future and everything will be done on the internet'...
20+ years later, WFH is now normal thanks to internet, Tinder is a how you meet your partner, online banking is defacto, online shopping is massive(see Amazon). 13~18 year olds seemingly conduct their entire lives over their phones/internet.
Crypto as a technology is growing quicker than the Internet did, is still in early days.
Welcome the change, adapt, adopt and prosper. Or wait and be too late. Those early early early adopters are already retired and sitting on $m's.
Listen to all of this as somewhere in the middle Raoul explains all the above mentioned brilliantly:
- The battle is to decide which of the 'technologies' within crypto will be the No.1shapesalad
- Also don't go too heavy into ETH, Solana is creeping up behind it at speed. Check out InvestAnswers on youtube....shapesalad
- You've got people saying it's a scam and ponzi and on't replace Gold & $'s... you've got those saying it'll replace the entire financial system.shapesalad
- If you follow past new technology arguments... you'll know the side to choose is the side that favours the new tech.shapesalad
- People like grafician are still going to work on a horse rather than automobile. Still taking calls on a landline rather than iPhone...shapesalad
- Crypto is NOT new tech lol
It's old tech that nobody found useful shilled to dumb people to make a quick buckgrafician - Also comparing actual useful tech that found market fit with crypto is a lack of tech knowledge on your partgrafician
- Your posts are basically telling everybody you really have no clue about what you're talking about. So keep talking foolgrafician
- ...and keep selling bridges to idiotsgrafician
- durrr....shapesalad
- The fact that you can't distinguish between a ponzi scheme and actual financial tech is also telling everybody you are financially illiterategrafician
- Difference is that the internet provided useful technology to the masses. Crypto does not. The comparison falls apart as soon as you, we’ll, compare.monospaced
- I don’t think it’s fair to call crypto an equivalent tech to the internet. Not by a long shot.monospaced
- You compare landline to iPhone, car and horse, which I get. We all do. But crypto isn’t offering a superior tech for anything, let alone something majormonospaced
- And no, it isn’t a superior currency replacement. Sorry. It’s not the car replacing horses.monospaced
- Crypto as tech compared to gold, coins, paper IOU's, FED centralised control... Think I'll bet on the new tech, but thanks for your opinion.shapesalad
- it is silly. i'm all out of crypto with the exception of energy web - still the best use-case for the technology i've seen + non profit/ environmentally soundkingsteven
- it's the same as Gold, just with electricity.uan
- Dude. Buying Bitcoin is not investing in the new tech.monospaced
- Blockchain will provide something, someday, but right now it does nothing beyond make headlines. I'll invest when there is tech that creates actual value.formed
- Nothing this volatile can be used for any type of actual currency. It's lunacy to put faith in that and would destroy our economy w these hype-based swings.formed
- Not to mention wiping out so many people along the way. It would be a blood bath exponentially worse than the dotcom or housing bust.formed
- El Salvador bought BTC at over $50K, it tanked to $43K right after, then they bought "the dip" at $48K...BTC is now $45K
Financial illiteracy really hurts.grafician - they buy to hold. they calculated how much they need to make it run some of it's economy and they will continue to accumulate reserves for the next years.uan
- this raoul pal guy cracks me up . what an assclown.neverscared
- u can allways count makine bucks fucking up the climate.... oil or crypto .. both are neckdeep in blood.neverscared
- it's what I meant by it's the same as Gold, like crypto it sees wealth only in materialism.uan
- @uan holding risky assets is the dumbest strategy ever! You hold safe bets, you TRADE risky assets!grafician
- ah yes right, I keep forgetting most of you guys are in the US and trading in the US is a pain in the ass, right, that's why you keep holding...grafician
- Raoul an assclown? Wow. Even if you don’t agree with someone’s opinion, you don’t insult.shapesalad
- You can stop kissing his ass now renderedredgrafician
- i watched one of his shows recently and thought he is running on a lot of incoherent and false thought patterns ... highly manipulative speech semantics too...neverscared
- total assclown.neverscared
- Truth lies somewhere in the middle between Mono and Shapesalad. Mono will be mocking crypto even if becomes wildly adopted and btc hits 1mil.inteliboy
- The shapesalads of the world will hold on as it crumbles. Where as likely it will find it's niche, and settle in the boring enterprise/finance space somehow.inteliboy
- Though I do love the terminology of "tanking" to 43k. 43 fucking thousand dollars. This thread started when btc was around a buck.inteliboy
- Even if it is a Ponzi scheme, I say get the fuck on board.inteliboy
- ^ and this gentlemen (and lady) is how you shill crypto
LOLgrafician
- qoob5
- I literally posted a tweet a few posts up showing $500M worth of tether entering the market to pump the price of BTC so the market can recover a bit lolgrafician
- everything this guy chats about in this video already posted: https://www.qbn.com/…grafician
- the amount of cash made by youtubers pumping videos about crypto these days...oh boygrafician
- now if the asmr chicks can get into the action, they'd be making bennnn coin!_niko
- Oh yeah, wondering again if Bennn is OK...
Hope he's goodgrafician - you are starting to sound like a prick now, wtf has benn got to do with anything? he prob put a small amount in, go for some exercise or something.fadein11
- bro "Bennn" is the stereotype of a newbie retail trader with no clue losing money. I don't know who Bennn is irl and idcgrafician
- so, if you're going to discuss the issues at hand, go ahead, then if not, I don't really care about your opinion of me or what I post? so you go jog it offgrafician
- Looks like grafician was right all along :)NBQ00
- @nbq right about what? Anyone with 5 braincells knows how volatile and risky crypto isfadein11
- @fade mate volatility is SP 500 going down 1%
Crypto is basically a pyramid scheme, with low liquidity, it's even worse than a casino ffsakegrafician - "how volatile and risky"fadein11
- drgs1
https://digiconomist.net/bitcoin…
Single transaction = 801.27 kWh
Equivalent to the power consumption of an average U.S. household over 27.46 days
Equivalent to the carbon footprint of 843,549 VISA transactions or 63,434 hours of watching Youtube.Your monthly electricity bill is what it costs to make one transaction?
I mean, Bitcoin's carbon footprint will continue to get bigger. Attention to environmental concerns continues to increase. I don't see how this ponzi will not get cancelled at some point.
Sometime in 2027 a "Bitcoin accepted" sticker will be like putting a swastika in your store window.
Discuss
- I've read both sides and think the truth lies in the middle somewhere. Also always wary of crypto FUD and the powers that be who push narratives...inteliboy
- 801.27 kWh is 186.808 kg CO2. It costs about $3 to carbon offset that.
1 bitcoin = $53,464, the offset price is 0.0056% of a bitcoin.palimpsest - We'll eventually be able to offset ALL trades for a handful of bitcoin. Fair trade. Everybody wins.palimpsest
- Throw NFTs in the mix and we'll solve the climate issue faster:
https://www.qbn.com/…palimpsest - Read that institutional investors don't want to invest in the "China coin" as most mining is done there so it's not decentralised anymoregrafician
- China banned crypto but not mininggrafician
- India is moving to ban cryptografician
- Today about $8 bil. in bitcoin options are expiring, let's see how that will play on the price lolgrafician
- just spend the profit before the planet looks like mars.
by 2027 ANY carbon footprint should be banned (or 2030/2035). why wouldn‘t the crypto market adapt?uan - $6B* ^grafician
- Proof of work concept/mining is a mistake. Ethereum 2.0 is moving towards proof of stake (?), but for Bitcoin it's not possible.drgs
- A swastika? Bro you are seriously overestimating how much people care about the environmentnb
- bitcoin will transact in the billions per transaction rendering those numbers ridicule. Cardano, ETH2, etc will handle the coffee drinking economy with POSESKEMA
- And LightningESKEMA
- @ESKE lol dude you literally speculate statements, do you have any facts, proof on those statements? or just trolling again?grafician
- it's just an opinion man. Disregard at willESKEMA
- @ESK it's rather hard to take you seriously about anything after proposing all this nonsense really smhgrafician
- I don't careESKEMA
- I mean buying crypto with fiat so you can pay for coffee with crypto is baffling, but hey, life is hard already...grafician
- If you mean exchanging fiat for crypto and go to another country and pay with crypto for coffee is dumb? The alternative is buying local currency from bank.ESKEMA
- now imagine you didn't buy it. Someone sent it to you because you sold a jpg. It's cool to be able to buy coffee with jpgs. NESKEMA
- you can also imagine realistic scenarios where you buy $10 of crypto, for buying sometimes a coffee.ESKEMA
- Well, historicaly, you tend to be able to buy a lot more coffees than you could with your orginal $ and can basically pay for coffee forever without more inputESKEMA
- Fuck off with that coffee shit, ENEMAbabydick
- Fuck You, Candy!ESKEMA
- @ESKEMA Well I get your points but you get that they are stupid af points? It's like trying to reinvent modern civilisation to buy a coffee...grafician
- "It's cool to be able to buy coffee with jpgs."
Sums up the quality of the analysis.palimpsest - Also, you "[exchange] fiat for crypto" but "[buy] local currency from bank".
Definitely not a cult.palimpsest - Crypto bros have this redpill attitude towards fiat but can't see they're playing into the same system.palimpsest
- I don't think they are the same system if one has infinite supply and the other a hard cap, and one is permissionless and the other highly restricted.ESKEMA
- we'll live with both for quite a whileESKEMA
- While I think all you have to do is ask yourself what is 1 Bitcoin worth.palimpsest
- 1 Bitcoin is worth what one human is willing to pay for it. We are witnessing how it plays out, right now, 1 human is willing to exchange about $60k for one.ESKEMA
- 1 Bitcoin is worth 60k Dollars.
There you have it!
You are changing an explicit master for an implicit one.palimpsest - I maintain that you are playing in the same system.palimpsest
- you could replace the dollar value by a house, or gold, or work. or whatever someone is willing to exchange for it.ESKEMA
- Yes, you could have answered any of those but chose to answer in dollars. You said yourself that a Bitcoin was worth 60k dollars. That is what is worth.palimpsest
- We're just going to go on circles from here.palimpsest
- zaq3
Instead of replying in comments scattered through multiple crypto threads. I will respond to you here, my fellow qbnero. It might be relevant to few others too.
I understand where you are coming from. Believe me I feel your pain. You put so much effort into your work. You try very hard to keep an edge. You most likely have tons of experience, backed by prestigious awards, praised by your coworkers... and then some joe with nothing behind puts a few bucks borrowed from his mom into a gold rush and makes a fortune while reposting memes. I know that sounds very unfair. It sucks! It really is. Therefore, you just wait for the thing to burst and burn to the ground. You find some snippets online to justify your worldview: bitcoin is energy consuming, it's being used by criminals, it's a Ponzi scheme, there is no Ctrl-Z etc. When the hell will this thing would burst?!!!
Let me assure you, it's not going to happen. It will go up and down. Some people will lose money, some will gain.. But it will be there for quite long time. At least a few decades. And it will become much much bigger.
Blockchain is a trillion dollar market today. It's not going to disappear overnight. It's not only in people's head. An enormous number of machines are linked to it.
Coinbase is going IPO in a couple of weeks with a close to a $100 billions valuation. It's expected to be the most important IPO of 2021. Coinbase of blockchain is as Netscape of internet. Celsius will follow. There are some others that are scheduled to IPO this year in crypto too.
Bitcoin is only the tip of the iceberg. There is a lot of work that is being done in blockchain outside of bitcoin. ETH2 in my opinion will take the reign.
The smartest people have moved from working on displaying the most relative ads to programmatically shift capital.
Blockchain is not so much a technological revolution. As a technology, it's even a step back. Blockchain is a disruption of power. Where the old powers are losing the grip.My advice to you, as a fellow qbnero. Do not fight blockchain. Embrace it. Not by buying crypto, but by becoming knowledgeable in the domain.
Read https://coinjoy.io/ daily
Listen to Crypto Startup School https://a16z.com/crypto-startup-…
Get MetaMask
Monitor the NFT/bitcoin/crypto threads.
If you have a child, I'd like to invite you to participate in the crypto project that I am launching. It's fucking awesome!!! :)
- what's the project? it's harvesting my childs Adrenochrome for Hillary Clinton and the hollywood elite's isn't it._niko
- if so, I'm in, the little shits have cost me a fortune so far, time to recoup!_niko
- I will post about it soon.zaq
- but don't quit your job yet :)zaq
- I am not jelly y'all making bucks. I'm not afraid of the technology. I hate seeing the technology being used to perpetuate the system it claims to disrupt.palimpsest
- This is like trying to tell the kids to stop playing with fire cuz they can burn the house down, while the kids are spoiled bratsgrafician
- is coinbase down again?jonny_quest_lives
- Coinbase support number 1-213-212-3502jonny_quest_lives
- https://news.bitcoin…jonny_quest_lives
- It's not. I just transferred some funds to acquire Clive's NFT from a fellow qbnerozaq
- https://imgflip.com/…jonny_quest_lives
- hop on the crypto train! everybody's going to be RICH! lolKrassy
- jonny_quest_lives6
"Nothing sedates rationality like large doses of effortless money. After a heady experience of that kind, normally sensible people drift into behavior akin to that of Cinderella at the ball. They know that overstaying the festivities - that is, continuing to speculate in companies that have gigantic valuations relative to the cash they are likely to generate in the future - will eventually bring on pumpkins and mice. But they nevertheless hate to miss a single minute of what is one helluva party. Therefore, the giddy participants all plan to leave just seconds before midnight. There’s a problem, though: They are dancing in a room in which the clocks have no hands."-Warren Buffett 2000 Berkshire Hathaway Annual Report
- this starts with: The line separating investment and speculation, which is never bright and clear, becomes blurred still further when..sted
- when most market participants have recently enjoyed triumphs.sted
- cross-post this to the stock of the day threadsarahfailin
- Bitcoin is basically a cult...grafician
- drgs7
The price will go either up or down
- What’s this crap dude? Do you seriously use this for charting?NBQ00
- nuttedStoicLevels
- _niko6
when I have money in bitcoin but see Bennnn does too:
- LOLGuyFawkes
- we love you BennnGuyFawkes
- :))))))_niko
- explain to me, i dont get it :PBennn
- Eddie the Mush, just joking that as soon as you got into bitcoin it started tanking :) https://www.youtube.…_niko
- lol but I didnt get in it when it start tanking. I got into it in october. Iam still in profits :)Bennn
- NBQ00-1
Programmer has two guesses left to access £175m bitcoin wallet: https://www.theguardian.com/tech…
Stefan Thomas is not the first person to forget a password, but memory lapses are rarely so potentially costly.
- omg...Bennn
- IMAGINE how pissed!DaveO
- But like that’s the great thing about crypto man, it’s not centralized so nobody has control of your money!_niko
- DRINK_YER_OVALTINEmg33
- Pay Darren Brown £1m to hypnotise you and dig out the password from the depth of your brain you fool! If that doesn’t work. Pay the worlds number 1 hacker £2m.shapesalad
- crazyGuyFawkes
- yeah fuck that, I'd be so mad lolernexbcn
- id go crazyBennn
- Bank would never do this.monospaced
- He could easily give the decrypt firm a 10%-20% of this if they can decrypt it within months and he’d still have over £100MNBQ00
- If he doesn‘t do that he‘s a fucking moron.NBQ00
- it's just money - delete the wallet and go on with lifeapi
- It's just approx £175MNBQ00
- inteliboy2
turn the sound on. every ping = a $100k+ trade.
- The sounds are giving me PTSDdrgs
- Electronic musicNBQ00
- this is fucking nice thanks for the share. basically works as a low-end volume surge alert, bit sad that its delayed.sted
- so many cunts with a lorra lorra money!pedromendez
- https://www.bitliste…pockets
- hahahah that is so nice thanks :Dsted
- this is greatutopian
- Buy high, sell low!scarabin
- DaveO1
I love that the first post on this thread was 'crazy, hit $10 this week'.
- I know, I have .5btc that I bought when it was around $1500. I told myself I wouldn't sell till it got to that mythical 1m/pr point but not gonna lie,ben_
- temptedben_
- I have 1 Bitcoin I won from some contest/promotion somewhere on an old Mac drive. :/Gnash
- Bruh. Find that shit!scarabin
- I know! UghGnash
- so you're telling us you have 30K sleeping on an hard drive? DUDE!Bennn
- Yes. I have the drives but not the machine (I always take out the hard drives before I get rid of a machine)Gnash
- And I only remembered fairly recently - a guy I worked with who got the same promo mentioned to me that he sold his ages agoGnash
- And I was like, oh ya, I remember that now ...Gnash
- This was back when you needed like, 50 bitcoins to by a small pizza - if I remember correctlyGnash
- Man! I order you to take care of this before the end of JanuaryBennn
- if you have the private keys safe, you don't need the drives.ESKEMA
- Lol. Ya, not sure about the keys. I mean when we got these promo they were more of a novelty. They were essentially useless back thenGnash
- So I wasn’t so careful :/Gnash
- Funny how somebody made a comment „massive bubble“ when Bitcoin was $100, lol.NBQ00
- ^ was it mono?inteliboy
- lolGuyFawkes
- NBQ002
Anti-virus software entrepreneur John McAfee has been arrested in Spain and faces extradition to the US where he has been charged with tax evasion.
If convicted, he could face up to 30 years in prison.
- Damn they finally got himyuekit
- wild man got caught. LOLKrassy
- Looks like he'll be eating his own dick in prison.NBQ00
- Watch this documentary about him "Gringo". Some wild stuff.zaq
- He'd truly lost his mind a long long time ago.helloeatbreathedrive
- Now he's fuckedi_was
- You can do the sex crimes, do the violence, but one thing you can't do is not pay your taxes.PhanLo
- Krassy3
what's happening?
- someone explainKrassy
- Bitcoin released their financial earnings report and 5 year prospectus showing future gains and market strength. Actually none of that. No reason at all.monospaced
- Actual truth is more likely a whale bought a chunk at a discount, some bros saw the blip and started buying. Price climbs and more buyers scramble in. That’s itmonospaced
- LOL at 1st comment
Thanks for the explanation in the 2nd commentKrassy - https://www.urbandic…drgs
- lol drgsfadein11
- its not rising fast enough, i want more money, that's whats happeningdrgs
- has gone up $2K in a dayKrassy
- My BTC is at $7.62 I’m still going to HODL!!!!!HijoDMaite
- Facebook announced their own coin last week and this has created interest/confidence... search for crypto currencySlashPeckham
- Mining reward halvening (fewer new coins mined and therefore less supply), but it happens 1 year from nowdrgs
