Bitcoin discussion and news
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sim667
All aboard the 303 bus.
Crypto is always going to be good for capitalists, they can move money around without less fees, less commission…… and make money effectively disappear.
Santander were even developing their own internal cryptocurrency to move money around at one point, whether they still are I don’t know
moochedit
I'm not feeding seagulls
Making the mistake of beliving he means the stuff he says at rallies.
moochedit
I'm not feeding seagulls
There's a fixed quantity of bitcoin in the system right?
so if the us goverment buys a large chunk of them isn't that undermining all the "it's free from governent control" stuff the bitcoin bros seem to care about so much? (mind you they make all this shit up as they go along anyway)well, they are just owners and have no direct ability to control the price the way it can with the dollar. would be the logic.
I think all the bitcoin bros care about is 'line goes up' and having the govt care about this too, by being invested in its future, would only be a good thing.
I think all the bitcoin bros care about is 'line goes up' and having the govt care about this too, by being invested in its future, would only be a good thing.
gosub
~#
U.S. Government Owns Way More Bitcoin Than Any Other Country–So Why Aren’t They Selling It?
Washington owns nearly $2 billion worth of seized bitcoin and has been reluctant to part with it. That may represent inertia more than strategy.
www.forbes.com
Kid_Eternity
Quis custodiet ipsos custodes?
Yep, just shows all those crypto idiots who like to cry about fiat currency and freedom are really just bullshit artists looking for free money...There's a fixed quantity of bitcoin in the system right?
q_w_e_r_t_y
You see an investment scam and I see divinity
Owning bitcoins doesn't control the network.There's a fixed quantity of bitcoin in the system right?
Hash power controls the network.
Large owners (such as nation states) do have the ability to influence the dollar price (selling a chunk at once is likely to lead to a crash), but no ability to control the supply, like they do with the dollar.
Bitcoiners care about the amount of bitcoin they have: line go up is psychologically reassuring, but its always tempered with the desire for line go down so that they can afford more, as most bitcoiners income is still in fiat currency. Bitcoin traders care about the volatility of bitcoin so that they can grow their stack by buying more bitcoin than they sold. It is no-coiners who seem to care most about number go up in my experience.
q_w_e_r_t_y
You see an investment scam and I see divinity
There are certainly speculators that are trying to use bitcoin to get (fiat) rich, but these people are not bitcoiners. They usually come in later in the cycle when the hype is nearing its peak, get burnt in the crash, sell at a loss, then either declare bitcoin a scam (until the next cycle), or start to read up on what bitcoin actually is, and become bitcoiners.
Bitcoiners are actively trying to grow their holdings. The simplest method is DCA and hold - buy small amounts regularly and dont sell. Alternatively some try to time the peak then buy back after the crash. The nominal fiat price is fairly irrelevant, what is important is the point in the cycle, sell at the top, keep hold of the cash, buy back more at the bottom...or at least thats the theory. In reality, its a hard psychological strategy for a bitcoiner.
The value of a bitcoin never changes - it is always 1/21m of the total supply - bitcoiners are trying to grow their ratio of that total supply.
Saul Goodman
It's all good, man
'Bitcoiners' are in it to make money. No other reason. Some will try to pretend otherwise, but hey ho.
q_w_e_r_t_y
You see an investment scam and I see divinity
In a fiat economy, very little, as inflation will erode its value over time, eventually rendering it worthless.
However in a bitcoin economy, it grows in purchasing power over time, firstly through the transition from fiat to btc, which acts as a sink, then post hyperbitcoinization through deflation as eventually more btc is lost every year than is mined.
If by "make money" you mean "increase personal purchasing power" then you are right, that is a primary aim of a lot of bitcoiners. But the qualities of bitcoin: permissionless, borderless, immutable, decentralised and censorship-resistant, makes it "better money", even if its purchasing power never increased.
But bitcoin is so much more than just "money", which is what bitcoiners eventually come to realise.
Saul Goodman
It's all good, man
Some people don't seem to understand simple facts like this. They pretend to be clued up but they make audiophiles seem positively perspicacious.
Saul Goodman
It's all good, man
It isn't even money. It's magic beans.
Saul Goodman
It's all good, man
Yes. Something about there being more gullible fucks in the world than I ever thought possible.
Callie
Pivoting
There's a music chap I follow for music reasons who suddenly started posting loads of stuff about making money from bitcoin. It's interesting to say the least. He does seem to have a chunk of cash but no idea what he's put in to get it. Possibly just good timing?
Anyway the way he is bleating on about it sounds like he's started in a new drug or something. Really odd and seemingly out of the blue/out of character.
I think a guy I used to work with made a reasonable chunk too and bought a range rover. I can't help thinking there's better things to spend your fortune on than cars
Anyway the way he is bleating on about it sounds like he's started in a new drug or something. Really odd and seemingly out of the blue/out of character.
I think a guy I used to work with made a reasonable chunk too and bought a range rover. I can't help thinking there's better things to spend your fortune on than cars
NoXion
Craicy the Squirrel
Thank fuck cryptocurrency isn't actually currency, then. The fact that no country has been foolish enough to actually adopt any of them as a means of exchange means they've dodged a serious bullet.
tommers
It was... Rebekah Vardy's account
Has his account been hacked?There's a music chap I follow for music reasons who suddenly started posting loads of stuff about making money from bitcoin. It's interesting to say the least. He does seem to have a chunk of cash but no idea what he's put in to get it. Possibly just good timing?
Anyway the way he is bleating on about it sounds like he's started in a new drug or something. Really odd and seemingly out of the blue/out of character.
I think a guy I used to work with made a reasonable chunk too and bought a range rover. I can't help thinking there's better things to spend your fortune on than cars
Callie
Pivoting
Haha I did message them actually something to that effect. I don't think I know their posting style well enough to check but it does seem out of character. It must be that, right??
tommers
It was... Rebekah Vardy's account
Yeah, I mean I haven't seen it. But it usually is.
AverageJoe
...
El Salvador has.
IMF warns El Salvador of Bitcoin 'risks' – DW – 02/11/2023
The Central American country became the first worldwide to adopt Bitcoin as a legal currency in 2021. The IMF said the government should be more transparent.
www.dw.com
NoXion
Craicy the Squirrel
El Salvador has.
IMF warns El Salvador of Bitcoin 'risks' – DW – 02/11/2023
The Central American country became the first worldwide to adopt Bitcoin as a legal currency in 2021. The IMF said the government should be more transparent.
I suspect most El Salvadorans are sticking with the US Dollar. I wouldn't blame them.
ddraig
kicking against the pricks...
Newport Tip bloke still trying!
You binned it dude
You binned it dude
Man says his binned Bitcoin fortune now worth £500m
Bitcoin: Newport man says binned hard drive now worth £569m
James Howells believes his lost hard drive, which contains 8,000 Bitcoins, is in a landfill site.
www.bbc.co.uk
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