Well I currently have only .207 btc and I have a sell order in at $7800. Looks like it's going back up there. I bought at about 6800 and if my sell order executes I'll try to catch the next dip to buy back. My problem is after I sell there's no dip!!
BEWARE THE CULT OF "GOVERNMENT"
Christian Anarchy - Our Only Hope For Liberty In Our Lifetime!
Sonmi 451: Truth is singular. Its "versions" are mistruths.
https://en.wikipedia.org/wiki/User:ChristianAnarchist
Use an internet archive site like THIS ONE
to archive the article and create the link to the article content instead.
are we in a bull trend or a bearish trend?Originally Posted by ChristianAnarchist
never try to time tops or bottoms.
trade if you want but HODLing and buying dips is the easiest strategy.
Btw, if I had a chunk of spare cash to gamble right now, I'd be putting it on a bunch of Deutsche Bank short positions (and anything that shorts markets, really) instead of Bitcoin. I think market correction/crash started on 11/9 (9/11). But alas, I am but a poor man so....
Last edited by devil21; 11-15-2017 at 07:06 AM.
"Let it not be said that we did nothing."-Ron Paul
"We have set them on the hobby-horse of an idea about the absorption of individuality by the symbolic unit of COLLECTIVISM. They have never yet and they never will have the sense to reflect that this hobby-horse is a manifest violation of the most important law of nature, which has established from the very creation of the world one unit unlike another and precisely for the purpose of instituting individuality."- A Quote From Some Old Book
It doesn't really make sense to use BTC as currency right now since it's rate of growth is magnitudes greater than conventional investments.
$7375
#bouncing back
$7445
Seems logical.
- Kim KardashianIt's all about taking action and not being lazy. So you do the work, whether it's fitness or whatever. It's about getting up, motivating yourself and just doing it.
Donald Trump / Crenshaw 2024!!!!
My pronouns are he/him/his
Bitcoin isn't a currency. It's a speculative bet on a social network instrument. As one person pointed out, a "digital house" has many benefits compared to a real house. A real house requires maintenance, taxes, lawn care, etc. whereas a digital house does not. But, a digital house you can't live in. Sure, you could "trade" digital houses, I guess, if there's a market for digital houses. But a digital house, just like a digital "coin", is just code. You need something tangible behind it. That's why a digital house is ridiculous, but a REIT isn't. Bitcoin is a ridiculous mania given there's nothing tangible at the end of the day---but a gold Bitcoin where the Bitcoin were tied to something tangible would be logical.
I've been reading that Bitcoin transactions take minutes---up to 10 minutes?? Contrasted to the pin-chip cards where people complained it took 5 seconds for a transaction...This is more glacial to transact than bidding on an eBay item in 1998 and paying with PayPal with dial-up internet.
But yeah, Bitcoin isn't a "currency" and gold 2.0. Nah, we'll get legit digital currencies backed by gold that'll be the future. Bitcoinists insist "Try taking $1 million worth of gold with you when you travel..." We had gold-backed paper to make it easier to "carry gold"...likewise, we will have gold-backed digital currencies that actually serve the purpose of being a currency.
Bitcoin is simply a social network. That's what it has going for it. But it's not a currency---you might as well suggest Facebook stock is a currency because you get money when you sell it.
I know there are many with a Bitcoin fetish, but if a digital house is ridiculous, then a digital currency with nothing tangible is ridiculous. Its value is contingent upon the social network element of Bitcoin. And it appears the price of Bitcoin is tracking the collective bubble in many other assets. Ultimately, with a Bitcoin, there's "nothing there"...and then I hear a labor-value theory argument that the "electricity to generate a Bitcoin = thousands of dollars" as if establishing a floor for Bitcoin price. That's ridiculous---I can paint something for 10 years that doesn't make it worth more than a buck to anyone. If Bitcoin turns into MySpace, the computing/electricity costs don't matter because no one will use it. So those who spent $1000 to mine a coin will have trouble selling to someone who went onto Bitcoin 2.0, or GoldBitcoin.
Let the trolling begin
Last edited by Gaddafi Duck; 11-16-2017 at 01:45 PM.
You already started, and ended, the trolling.Bitcoin isn't a currency. It's a speculative bet on a social network instrument. As one person pointed out, a "digital house" has many benefits compared to a real house. A real house requires maintenance, taxes, lawn care, etc. whereas a digital house does not. But, a digital house you can't live in. Sure, you could "trade" digital houses, I guess, if there's a market for digital houses. But a digital house, just like a digital "coin", is just code. You need something tangible behind it. That's why a digital house is ridiculous, but a REIT isn't. Bitcoin is a ridiculous mania given there's nothing tangible at the end of the day---but a gold Bitcoin where the Bitcoin were tied to something tangible would be logical.
I've been reading that Bitcoin transactions take minutes---up to 10 minutes?? Contrasted to the pin-chip cards where people complained it took 5 seconds for a transaction...This is more glacial to transact than bidding on an eBay item in 1998 and paying with PayPal with dial-up internet.
But yeah, Bitcoin isn't a "currency" and gold 2.0. Nah, we'll get legit digital currencies backed by gold that'll be the future. Bitcoinists insist "Try taking $1 million worth of gold with you when you travel..." We had gold-backed paper to make it easier to "carry gold"...likewise, we will have gold-backed digital currencies that actually serve the purpose of being a currency.
Bitcoin is simply a social network. That's what it has going for it. But it's not a currency---you might as well suggest Facebook stock is a currency because you get money when you sell it.
I know there are many with a Bitcoin fetish, but if a digital house is ridiculous, then a digital currency with nothing tangible is ridiculous. Its value is contingent upon the social network element of Bitcoin. And it appears the price of Bitcoin is tracking the collective bubble in many other assets. Ultimately, with a Bitcoin, there's "nothing there"...and then I hear a labor-value theory argument that the "electricity to generate a Bitcoin = thousands of dollars" as if establishing a floor for Bitcoin price. That's ridiculous---I can paint something for 10 years that doesn't make it worth more than a buck to anyone. If Bitcoin turns into MySpace, the computing/electricity costs don't matter because no one will use it. So those who spent $1000 to mine a coin will have trouble selling to someone who went onto Bitcoin 2.0, or GoldBitcoin.
Let the trolling begin
"He's talkin' to his gut like it's a person!!" -me
"dumpster diving isn't professional." - angelatc
"You don't need a medical degree to spot obvious bullshit, that's actually a separate skill." -Scott Adams
"When you are divided, and angry, and controlled, you target those 'different' from you, not those responsible [controllers]" -Q
"Each of us must choose which course of action we should take: education, conventional political action, or even peaceful civil disobedience to bring about necessary changes. But let it not be said that we did nothing." - Ron Paul
"Paul said "the wave of the future" is a coalition of anti-authoritarian progressive Democrats and libertarian Republicans in Congress opposed to domestic surveillance, opposed to starting new wars and in favor of ending the so-called War on Drugs."
No trolling required a Blockchain can not insure the accuracy of the gold accounting it is being used as a "representation" for. So, the ledger will 100% be flawed. So, in order to fix your gold back cryptocurrency when errors occur or thefts, or counterfeiting of the gold, you must be able to modify the values of the blockchain at will, by some centralized authority, and that modification power will override the control any user has by simply holding a private keys.Bitcoin isn't a currency. It's a speculative bet on a social network instrument. As one person pointed out, a "digital house" has many benefits compared to a real house. A real house requires maintenance, taxes, lawn care, etc. whereas a digital house does not. But, a digital house you can't live in. Sure, you could "trade" digital houses, I guess, if there's a market for digital houses. But a digital house, just like a digital "coin", is just code. You need something tangible behind it. That's why a digital house is ridiculous, but a REIT isn't. Bitcoin is a ridiculous mania given there's nothing tangible at the end of the day---but a gold Bitcoin where the Bitcoin were tied to something tangible would be logical.
I've been reading that Bitcoin transactions take minutes---up to 10 minutes?? Contrasted to the pin-chip cards where people complained it took 5 seconds for a transaction...This is more glacial to transact than bidding on an eBay item in 1998 and paying with PayPal with dial-up internet.
But yeah, Bitcoin isn't a "currency" and gold 2.0. Nah, we'll get legit digital currencies backed by gold that'll be the future. Bitcoinists insist "Try taking $1 million worth of gold with you when you travel..." We had gold-backed paper to make it easier to "carry gold"...likewise, we will have gold-backed digital currencies that actually serve the purpose of being a currency.
Bitcoin is simply a social network. That's what it has going for it. But it's not a currency---you might as well suggest Facebook stock is a currency because you get money when you sell it.
I know there are many with a Bitcoin fetish, but if a digital house is ridiculous, then a digital currency with nothing tangible is ridiculous. Its value is contingent upon the social network element of Bitcoin. And it appears the price of Bitcoin is tracking the collective bubble in many other assets. Ultimately, with a Bitcoin, there's "nothing there"...and then I hear a labor-value theory argument that the "electricity to generate a Bitcoin = thousands of dollars" as if establishing a floor for Bitcoin price. That's ridiculous---I can paint something for 10 years that doesn't make it worth more than a buck to anyone. If Bitcoin turns into MySpace, the computing/electricity costs don't matter because no one will use it. So those who spent $1000 to mine a coin will have trouble selling to someone who went onto Bitcoin 2.0, or GoldBitcoin.
Let the trolling begin
In order to have a blockchain backed by gold it REQUIRES a central authority that can modify balances at will, making it useless as a store of value, outside the control of goobermints, or corps.
At that point you might as well use a mysql database like peter schiffs company likely uses.
Edited to add....
As far as "what's there" in regards to bitcoin. The ultimate quality is the accuracy of the accounting, it is the most resistant system to fraudulent data entries every made by man to this date. So, there is likely 99.9999999999% probability that a bitcoin with a few confirms is truly 1 Bitcoin under your control, and that 1 Bitcoin was created by a set of rules that can be traced back to 2009, and anybody with the public address can verify that fact from anywhere on the planet. That accuracy does not exist with banks, nor "electronic gold", etc....
Last edited by RonPaulIsGreat; 11-16-2017 at 03:57 PM.
$7765
$7872
8000 breached..... OMG.....
Some credible analysts are predicting $10,000 or more by the end of the year. I believe it.
Chris
"Government ... does not exist of necessity, but rather by virtue of a tragic, almost comical combination of klutzy, opportunistic terrorism against sitting ducks whom it pretends to shelter, plus our childish phobia of responsibility, praying to be exempted from the hard reality of life on life's terms." Wolf DeVoon
"...Make America Great Again. I'm interested in making American FREE again. Then the greatness will come automatically."Ron Paul
A bank account is not tangible, either. It is just some ones and zeroes in a computer memory bank somewhere.
No one is laboring under the false notion that "a Bitcoin" is a "thing", in the sense that a house is a thing. Bitcoins exist as entries in an implied digital ledger (called the "Unspent Transaction Output set" or "UTXO set") that can be calculated by scanning the blockchain, starting from the Genesis block. The tally of this ledger is exactly equal, at all times, to the total number of Bitcoins that have been mined. So, if you were to add up ever ledger entry in the UTXO set right now, it would add to 16,683,662 Bitcoins. So, if you own 100 Bitcoins, then you own exactly 100/16,683,662 of the "Bitcoin pie", so to speak.
An "on-chain" transaction requires a minimum of 10 minutes to confirm, but full confirmation requires 30-60 minutes. Lightning Networks, micro-payment channels and atomic cross-chain swaps allow transactions to performed off-chain, instantaneously and securely (no additional trust required).I've been reading that Bitcoin transactions take minutes---up to 10 minutes?? Contrasted to the pin-chip cards where people complained it took 5 seconds for a transaction...This is more glacial to transact than bidding on an eBay item in 1998 and paying with PayPal with dial-up internet.
I sure hope we will, one day. Bitcoin might even play a role in breaking up the central banking system that has got a stranglehold on the use of gold as a currency. Until the central banks are taken out of the way, nobody is going to be using gold as a currency, cf the LibertyDollar and other examples of gold-backed currency takedowns.will have gold-backed digital currencies that actually serve the purpose of being a currency.
What we really need is a free market in the production of money. And that's precisely what Bitcoin has made possible. Gold-backed notes, silver-backed notes and other kinds of currency that we haven't even thought of may one day become commonplace. Bitcoin is just one contestant in the market for money production.
That's incorrect. A social network is a computer system that enables a large number of users to selectively share personal information about themselves - Facebook, LinkedIn, Twitter, SnapChat, etc. Bitcoin is not even capable of telling you who else is using Bitcoin, so it fails to meet the definition of a social network.Bitcoin is simply a social network.
It is ridiculous. There are superstitious people who believe ridiculous things like Marx's labor theory of value and who use Bitcoin - they do not define what Bitcoin is.labor-value theory argument that the "electricity to generate a Bitcoin = thousands of dollars" as if establishing a floor for Bitcoin price. That's ridiculous---
Your comparisons of Bitcoin to Facebook and MySpace, and your description of Bitcoin as "a social network" indicate that you deeply misunderstand the basic operating parameters of Bitcoin.If Bitcoin turns into MySpace,
From a blog post I'm drafting on this very topic:
What is Bitcoin? Bitcoin is a digital, distributed, peer-to-peer network for exchanging money between untrusted parties. The money that can be exchanged on the Bitcoin network is called Bitcoin (or BTC) and is denominated in units called "bitcoins" (also BTC). The Bitcoin network is not a money-transmission service (like Western Union, for example) because it is not transferring dollars or some other kind of money. The money that is exchanged over the Bitcoin network is its own monetary unit, that is, Bitcoin.
Let's break it down:
- Bitcoin is digital. This means that the Bitcoin network needs computers in order to operate although using Bitcoin does not always involve using a computer or mobile device. Bitcoin is based on digital computers.
- Bitcoin is distributed. This means that there is no "central hub" or authority that operates, maintains or regulates Bitcoin.
- Bitcoin is a peer-to-peer network. This means that every user connected to the Bitcoin network is the same as every other user connected to the Bitcoin network - all connected users are "peers". (Note: there are a couple different kinds of connections, which we will discuss below)
- Bitcoin is for exchanging money. This means that Bitcoin is not designed for other kinds of things which you might use a network for - sending messages, storing data in a database, and so on. The Bitcoin network is designed for one purpose and that is to exchange money between users.
- Bitcoin is for exchange between untrusted parties. This means that Bitcoin does not require users connected to its network (or anybody else, for that matter) to trust one another. This principle is built in at the core foundation of the Bitcoin protocol and it is rigorously applied at every level of Bitcoin's protocol.
Uhhh, seriously? WHOOSH! Over the head.
A Bitcoin doesn't back ANYTHING. A bank account is a legal claim to an asset that actually exists. A Bitcoin is code. It's not a currency.
No, if you look at the maturation of "money" over time, it's gone from barter, to random goods, to metals, to coins, to gold-backed paper, and the evolution will be to gold-backed digital currency. A synthetic digital "currency" like Bitcoin isn't the next step. It's like saying people will buy and sell digital houses. No, they'll buy and sell REITs, which are digital claims of actual real property, but they won't trade digital houses that don't exist. At least with airwaves that are auctioned off for the FCC, you're occupying a spectrum that exists.
Bitcoin is a social network. It'll boom, and bust. It's not a currency.
Kind of like "This note is legal tender", redeemable in other notes that are also legal tender?
To government fiat paper, to central bank issued ledger-money.it's gone from barter, to random goods, to metals, to coins, to gold-backed paper, ...
Whatever the market decides.and the evolution will be to
The rest of your claims about Bitcoin are as true as this one.Bitcoin is a social network.
Yes!
https://cointelegraph.com/news/bitco...sive-head-fake
Money is consensus. Maybe if Blankfein says it how it is you will listen
cointel
Coincidence?
"Let it not be said that we did nothing."-Ron Paul
"We have set them on the hobby-horse of an idea about the absorption of individuality by the symbolic unit of COLLECTIVISM. They have never yet and they never will have the sense to reflect that this hobby-horse is a manifest violation of the most important law of nature, which has established from the very creation of the world one unit unlike another and precisely for the purpose of instituting individuality."- A Quote From Some Old Book
Truth forever on the scaffold, Wrong forever on the throne,--
Yet that scaffold sways the future, and, behind the dim unknown,
Standeth God within the shadow, keeping watch above his own.
Yes, coincidence.
I saw credible analysis that said $1 million in ten years by doubling each year.
$8291
this might actually happen. That's why i will always keep 1 single whole BITCOIN in my hardware wallet for my retirement.
I'm surprised the corrections earlier didn't seem to last that long. The crash after hitting $1200 the first time took 2 years to recover. The dip to $5000 barely slowed the climb.
Last edited by kpitcher; 11-20-2017 at 04:48 PM.
let us teach them that all who draw breath are of equal worth, and that those who seek to press heel upon the throat of liberty, will fall to the cry of FREEDOM!!! Spartacus, War of the Damned
BTC: 1AFbCLYU3G1dkbsSJnk3spWeEwpqYVC2Pq
Yeah, a bank account gives you legal right to notes that are actually used in commerce and taxes. Unlike Bitcoins which take 10+ minutes to verify a transaction, and up to an hour to complete? And the transaction fees on Bitcoins are outrageous--prohibitively expensive to use for everyday purchases.
Sorry fellas, Bitcoin is a bubble. The "initial coin offerings" that are sprouting up require Bitcoins to participate.
As the "ICO" bubble bursts, so goes the Bitcoin price. The price is being driven by ICO speculation. Classic central bank boom-bust cycle. As inflation persists, it pushes people to make irrational decisions: "There-is-no-other-choice," pushing people into bidding up utilities to 50x P/Es, buying low-profit Amazon at 200x P/E, and yes, purchasing a Bitcoin---a digital "nothing" for $8000 that doesn't even serve the purpose it pretends to---to be an "alternate currency". It's too expensive to use Bitcoins due to the transaction costs, and it takes way too long to process the transactions.
10+ minutes? People freaked out when the pin-chip combo took 5 seconds.
Last edited by Gaddafi Duck; 11-21-2017 at 01:26 PM.
You sound like that lame Hulu documentary that was full of worthless bull$#@! which claimed that the bitcoin bubble burst a few years ago.
No doubt you will be saying the same thing when a bitcoin is worth $100k, $500k.. "Oh, it's just a bubble, guys!!"
"He's talkin' to his gut like it's a person!!" -me
"dumpster diving isn't professional." - angelatc
"You don't need a medical degree to spot obvious bullshit, that's actually a separate skill." -Scott Adams
"When you are divided, and angry, and controlled, you target those 'different' from you, not those responsible [controllers]" -Q
"Each of us must choose which course of action we should take: education, conventional political action, or even peaceful civil disobedience to bring about necessary changes. But let it not be said that we did nothing." - Ron Paul
"Paul said "the wave of the future" is a coalition of anti-authoritarian progressive Democrats and libertarian Republicans in Congress opposed to domestic surveillance, opposed to starting new wars and in favor of ending the so-called War on Drugs."
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