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.
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