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

[stalefish3169]

Hmmm...Some company called Square just bought 170 million dollars worth of Bitcoin. Interesting. Never heard of 'em. I'll have to look them up and see what they do.

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[Skidog]

Looks like ALL my crypto getting crushed right now. Not like it matters since I'd be out a whopping few bucks if I cashed out now, which I won't. Actually thinking about tossing some MORE into it while it's on this hard dip. I wonder how much longer this dip is going to last. Seems to be pretty much across the board. What the hell. I'm in for more. Just gotta time it right.

I do have to laugh at people like the Treasury Secretary, Janet Yellen as well as Bill Gates talking trash about Bitcoin. It's almost as if they feel threatened by it or something. Makes you wonder:
https://www.cnbc.com/2021/02/22/yell...t-bitcoin.html

Please. Gates and his Ilk ,(buffett) know how to make money.

Maybe they just see it as the ponzi scheme it possibly is? Remember maddoff used to run and trick the very best in the game.

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[Skidog]

Hmmm...Some company called Square just bought 170 million dollars worth of Bitcoin. Interesting. Never heard of 'em. I'll have to look them up and see what they do.

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Charge crazy rates per transaction that's all you need to know bout square. Believe they also allow rec stores to bank their $$ with them, but I assume, again , it's at some weird rate

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[pureantigravity]

You know what people in denial do? They double down on the fantasy.

[pureantigravity]

Charge crazy rates per transaction that's all you need to know bout square. Believe they also allow rec stores to bank their $$ with them, but I assume, again , it's at some weird rate

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https://stripe.com/blog/ending-bitcoin-support

Stripe made a public statement along those lines in 2018.

[Timberridge]

I dunno about this thing establishing itself as a currency. It's more volatile than the Venezuelan Bolivar.

[MontuckyFried]

I dunno about this thing establishing itself as a currency. It's more volatile than the Venezuelan Bolivar.

Seriously. Now my silly dogecoins are back well up above my initial purchase. Wild swings.

What if you used a crypto that was backed by a gold standard? (Unlike the USD)
https://www.fintechnews.org/top-five...rency-in-2020/

I guess you might as well just invest directly in gold, but maybe there's some sort of benefit by doing the crypto route instead? I really still don't understand all this to be perfectly honest. Been fun to watch my own personal horse races in my trading apps, though.

[MultiVerse]

I do have to laugh at people like the Treasury Secretary, Janet Yellen as well as Bill Gates talking trash about Bitcoin. It's almost as if they feel threatened by it or something. Makes you wonder:

I recently read an interview with a billionaire investor and he went on and on about the Cantillon Effect, about how unfair it is that rich people get richer because rich people have money in the market. Ray Dalio is another investor mentioned earlier in this thread talking about similar themes. You could say they have an ironic take.

What if crypto's popularity is populist rage commoditized? If a person thinks Janet Yellen and Bill Gates are elites threatened by revolution then equity markets have just the thing: SPACs, Tesla, GameStop and Bitcoin. Build the wall, drain the swamp, buy bitcoin.

Crypto price swings are like the VIX of populist rage. The financial system always wins. Often through embrace and extend. It's not David vs Goliath. It's Goliath sipping cristal while David dances for his entertainment. There will be no revolution, only memes.

[Timberridge]

^Whoa. Bitcoin as a weapon used against the deep state by demagogues and anarchists?

It's a heavy take. But I suppose it could work.

[AKPogue]

^Whoa. Bitcoin as a weapon used against the deep state by demagogues and anarchists?

It a heavy take. But I suppose it could work.

You don't know much about bitcoin do you.

[Timberridge]

You don't know much about bitcoin do you.

I do know this. Fiat money has come and gone through the centuries. Wampum beads and Roman denari are not so coveted anymore. Perhaps all of it will be replaced by your 0's and 1's one day, but somehow gold has survived all this. People still go cuckoo for that shit.

[stalefish3169]

Can't make this shit up. LMAO


https://www.frbservices.org/app/status/serviceStatus.do



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[pureantigravity]

Deltec bank hacked. Emails, customer lists, account balances, personal ID, visas etc.
https://twitter.com/Tr0llyTr0llFace/...32405501210624

Popcorn machine goes brrrrrrr.
Who knows what this all means?

[stalefish3169]

I think this guy knows what it means. You and Trolly need to get lives bro.

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[Skidog]

hahaha

[pureantigravity]

I think this guy knows what it means. You and Trolly need to get lives bro.

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There's no shame in cashing out early. Suppose he bought at $1 and sold at $30. Or maybe he bought at $20 and sold at $30. Or suppose he bought at $29.50 and sold at $30.

In the last scenario, he made 50 cents. What's wrong with that?

Most people that invest in high interest HODL-based investment schemes never get to cash out anything. Zilch. If you made a profit, even the _slightest_ profit, then you are above average.

And there is no shame in losing either. For every Lambo or Wealthy Whale, there are 100 to 1000 people that are stuck looking at the mountains go down, up and down, down, up, up, up, down down and down.

Eventually, they become registered claimants trying to pick up the crumbs the lawyers leave them after courts distribute what is left. There is often nothing left.

So, while we do not know the exact circumstances of Trolly's involvement, we can be assured that if he turned a profit, he is remarkable indeed.

[Brock Landers]

Get off his nuts dude.

[jm2e]

Ethereum?


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[splat]

Hmmm...Some company called Square just bought 170 million dollars worth of Bitcoin. Interesting. Never heard of 'em. I'll have to look them up and see what they do.

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Square is owned by some guy named Jack Dorsey. Never heard of him. Owns some company called Twitter. What's that?

[singlecross]

Ethereum?

BITD... amirite?!

[jm2e]

BITD... amirite?!

Back in the day?
Coworker of mine is swearing up and down it’s going to be awesome.


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[singlecross]

Back in the day?
Coworker of mine is swearing up and down it’s going to be awesome.

Buy In The Dip.

I threw some money into ETH a bit ago and am hoping to grow it into a BC Hut Catskiing trip in a couple of years. Or it could go to zero.

[jm2e]

Why are there two Ethereum options? ETH vs ETC? New Coke vs Coke Classic?

[stalefish3169]

Why are there two Ethereum options? ETH vs ETC? New Coke vs Coke Classic?

There was a large hack of a DAO (Decentralized Autonomous Organization). Some people wanted to manually override the transaction(s). Some didn't. So the chain split. You can probably figure out which one most people went with. This event is one of the primary reasons BTC maxis hate ETH.

https://www.google.com/amp/s/www.coi...alists%3famp=1

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[splat]

https://mashable.com/article/million...id-by-mistake/