Bitcoin....who's gotten into it?

[stalefish3169]

Attachment 248529

Trolly is my hero. I worship Trolly.

Attachment 248529

Trolly is my hero. I worship Trolly.

Figures a troll would have a troll as a hero.

If you're gonna say BTC is a Ponzi, I'd like to state that the US military and 401k retirement plans are. They definitely pray on the weakest members of society as well.

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[skaredshtles]

<snip>
If you're gonna say BTC is a Ponzi, I'd like to state that the US military and 401k retirement plans are.

Please expand on this theory.

[4matic]

Alchemy. Like using credit cards to buy bitcoin.

[skaredshtles]

Alchemy. Like using credit cards to buy bitcoin.

Ahh... so Wizard-level shit. Roger Roger.

[Skidog]

I'm curious too!

News - just in:

"Bitcoin mining uses so much electricity that 1 city could curtail facility's power during heat waves
Large power bill a financial boost for Medicine Hat, Alta., but critics concerned about project's emissions"
https://www.cbc.ca/news/business/hut...ning-1.4834027

When was the last time your bank shut down due to a heat wave or got censured due to emissions?

There were reports last year that miners in the wild west that is Venezuela would brown out entire cities mining "coins". Shits for reals.

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[Mustonen]

There were reports last year that miners in the wild west that is Venezuela would brown out entire cities mining "coins". Shits for reals.

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Pretty neat that you can take all those resources and turn them into something real and useful.

Like cryptocurrency.

What a time to be alive.

[stalefish3169]

Please expand on this theory.

Could go on for ages about the US military being a Ponzi, but I think Ike already summed it up succinctly. "Every gun that is made, every warship launched, every rocket fired signifies, in the final
sense, a theft from those who hunger and are not fed, those who are cold and are not clothed. This world in arms is not spending money alone.
It is spending the sweat of its laborers, the genius of its scientists, the hopes of its children.
The cost of one modern heavy bomber is this: a modern brick school in more than 30 cities.
It is two electric power plants, each serving a town of 60,000 population.It is two fine, fully equipped hospitals. It is some 50 miles of concrete highway.We pay for a single fighter plane with a half million bushels of wheat.
We pay for a single destroyer with new homes that could have housed more than 8,000 people.
This, I repeat, is the best way of life to be found on the road the world has been taking.
This is not a way of life at all, in any true sense. Under the cloud of threatening war, it is humanity hanging from a cross of iron."

And let's not forget, this was about half a century ago. Shit is way worse now. Look at the F-35 or the Zumwalt which are ludicrously expensive. The Zumwalt can't even fire its own guns because ammunition is too expensive at a cool 800k per round. What are the poorest people getting as an ROI on their investment? Terrorist attacks are higher than they were in 2001 despite massive increases in spending. We just have to keep pouring more money in to finally be safe. Sounds like a Ponzi to me.

As for 401ks, they are a nice way for the ruling class to skim most people's salary for 30-40 years. Pensions for most young employees are essentially a thing of the past. Now we have a system where most corporations and large companies are part of a too big to fail behemoth where a middle man makes a huge cut for doing very little. It's not unreasonable to state that many money managers are making decisions that put the most money in their pockets, not those of their clients. In order for it all to work, the US has to keep printing money out of thin air. Meanwhile those at the top keep buying back shares and the beat goes on.




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[stalefish3169]

I'm curious too!

News - just in:

"Bitcoin mining uses so much electricity that 1 city could curtail facility's power during heat waves
Large power bill a financial boost for Medicine Hat, Alta., but critics concerned about project's emissions"
https://www.cbc.ca/news/business/hut...ning-1.4834027

When was the last time your bank shut down due to a heat wave or got censured due to emissions?

BTC being power hungry are old news. Try focusing on new stories like the 2nd layer BTC lighting network scaling solution and vastly more energy efficient consensus algorithms like DPOS.

As for BTC getting shut down, it's laughable. Meanwhile, major credit cards have gone down on the past year.

http://bitcoinuptime.com



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[bigdude2468]

Could go on for ages about the US military being a Ponzi, but I think Ike already summed it up succinctly. "Every gun that is made, every warship launched, every rocket fired signifies, in the final
sense, a theft from those who hunger and are not fed, those who are cold and are not clothed. This world in arms is not spending money alone.
It is spending the sweat of its laborers, the genius of its scientists, the hopes of its children.
The cost of one modern heavy bomber is this: a modern brick school in more than 30 cities.
It is two electric power plants, each serving a town of 60,000 population.It is two fine, fully equipped hospitals. It is some 50 miles of concrete highway.We pay for a single fighter plane with a half million bushels of wheat.
We pay for a single destroyer with new homes that could have housed more than 8,000 people.
This, I repeat, is the best way of life to be found on the road the world has been taking.
This is not a way of life at all, in any true sense. Under the cloud of threatening war, it is humanity hanging from a cross of iron."

And let's not forget, this was about half a century ago. Shit is way worse now. Look at the F-35 or the Zumwalt which are ludicrously expensive. The Zumwalt can't even fire its own guns because ammunition is too expensive at a cool 800k per round. What are the poorest people getting as an ROI on their investment? Terrorist attacks are higher than they were in 2001 despite massive increases in spending. We just have to keep pouring more money in to finally be safe. Sounds like a Ponzi to me.

As for 401ks, they are a nice way for the ruling class to skim most people's salary for 30-40 years. Pensions for most young employees are essentially a thing of the past. Now we have a system where most corporations and large companies are part of a too big to fail behemoth where a middle man makes a huge cut for doing very little. It's not unreasonable to state that many money managers are making decisions that put the most money in their pockets, not those of their clients. In order for it all to work, the US has to keep printing money out of thin air. Meanwhile those at the top keep buying back shares and the beat goes on.




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401K's are a way for the ruling class to skim peoples money for 30 - 40 years, REALLY? With employer contributions of often 30% on a deferred tax basis only a fool would not take free money. I started with small contributions while raising two kids & a stay at home wife / mom. As I earned more I contributed more and invested conservatively. My wife and I are both 68, retired with SS and interest income from what was 401K's we live very comfortably. Without our 401K's / IRA's my guess is we would still be working.

[stalefish3169]

Will Lightening Network, assuming it works (which it doesn't), reduce how much electricity that Bitcoin needs or will that always go up regardless due to the difficulty increase in mining POW type magic tokens?

I can just picture you on the beach at Kitty Hawk hating on the Wright Brothers.



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[Mustonen]

I can just picture you on the beach at Kitty Hawk hating on the Wright Brothers.



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Is that a “no”? Or an “I don’t know”? It seems like it’s a real problem.... or isn’t it? Does the fact that you have to expend significant natural resources to generate impart some value to it? Like “literally backed by math AND spent resources”?

[skaredshtles]

I can just picture you on the beach at Kitty Hawk hating on the Wright Brothers.

<dude has fucking lost it>

[stalefish3169]

Uh.... they didn’t adopt XRP. They’re using Ripple’s accounts payable/receivable program. Cool, but fuck, dude... could you be a little more clueless in your fanfare?

https://www.coindesk.com/ripple-even...mpression=true

After a series of highly-publicized pilots, three companies are now making commercial use of Ripple's xRapid product.

XRapid employs the digital asset XRP, using it as a "bridge currency" in cross-border payments, which according to the company, reduces the cost and increases the speed of these payments by boosting liquidity.

The three companies – MercuryFX, Cuallix and Catalyst Corporate Credit Union – were announced by Ripple CEO Brad Garlinghouse on stage at Ripple's Swell conference in San Francisco today, marking the first time companies have put the product to commercial use...



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[Mustonen]

https://www.coindesk.com/ripple-even...mpression=true

After a series of highly-publicized pilots, three companies are now making commercial use of Ripple's xRapid product.

XRapid employs the digital asset XRP, using it as a "bridge currency" in cross-border payments, which according to the company, reduces the cost and increases the speed of these payments by boosting liquidity.

The three companies – MercuryFX, Cuallix and Catalyst Corporate Credit Union – were announced by Ripple CEO Brad Garlinghouse on stage at Ripple's Swell conference in San Francisco today, marking the first time companies have put the product to commercial use...



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So unlike the first time you said somebody had adopted XRP, which was bullshit, this time it’s true-ish.

Cool, man.

[byates1]

BLOK

let the fools pan for gold

own the river.

[Benny Profane]

https://www.banking.senate.gov/imo/m...2010-11-18.pdf

[stalefish3169]

https://www.banking.senate.gov/imo/m...2010-11-18.pdf

Ha. Fuck Dr. Doom.

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[Benny Profane]

Yeah, what does he know. No facts there to support his argument, anyway.

[skaredshtles]

At least it's following the market...

[stalefish3169]

Yeah, what does he know. No facts there to support his argument, anyway.

He predicted 13 out of last 2 recessions. So pretty solid track record.

With so much hyperbole, it's pretty easy to see the vast majority of his "testimony" is bullshit. By his logic, I can "hack" US dollars with a gun and a ski mask.

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[Benny Profane]

Sure. Right.

Buy buy buy.

[stalefish3169]

Ruh roh. BTC is cheaper....only about 0.23 cents a transaction now.

Other cryptos have even lower transaction fees and are nearly instantaneous.



https://twitter.com/tictoc/status/10...522796544?s=19

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[stalefish3169]

Haters! Where you at for this Tether drama?

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[stalefish3169]

A forced buyin due to tether's USD peg breaking isn't what I consider a bullish catalyst for bitcoin.


This, on the other hand...

Fidelity just made it easier for hedge funds and other pros to invest in cryptocurrencies

- Fidelity Investments, which administers more than $7.2 trillion in client assets, announced a new and separate company called Fidelity Digital Asset Services on Monday.

- The firm will handle custody for cryptocurrencies such as bitcoin and will execute trades on multiple exchanges for investors such as hedge funds and family offices.

- Other crypto companies have debuted similar products, but Fidelity is the first Wall Street incumbent to officially provide cryptocurrency solutions such as custody.

- “Our goal is to make digitally native assets, such as bitcoin, more accessible to investors,” Fidelity Investments Chairman and CEO Abigail Johnson says.

https://www.cnbc.com/2018/10/15/fide...urrencies.html

I just thought PG would be all over the Tether news. Dude is slippin'.

And also, the Fidelity news is yuuuuuge. Seven Trillion dollars in assets...

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[stalefish3169]

This plan is as relevant as ever. Fade into 2019 and reevaluate. BTC needs time more than anything. Every cycle requires time on the bear side to heal sentiment (see 2009 - 2011 in equities and the attendant demoralization among investors). BTC's valuation remains 500% over 2017's starting value, and even higher over prior years, suggesting that *even within a bear market* the uptrend from values of $1-$100 remains very much intact.



updated doodles with what I'm personally looking for. It won't fit in another 6 months and that's ok. The idea is to anticipate sentiment, not precise valuations. If you can pace sentiment you can focus and enter when things turn up.

Attachment 250753

Lambos by summer

So are you thinking a huge reversal after BTC drops to sub 3000, or what? Haha

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