$9193
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$9193
$9110
Crashing
Anyone holding 1 million coins just lost a bunch
$9,595
"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."
$9432Originally Posted by dannno
Crashing big time.
$9370! End of the world for those that bought in a $1 a coin.
The abject monetary ignorance of that statement only serves to confirm why I do not take any investment advice from you.
"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
Ya the elite own a huge amount of all the gold, but that's actually another great argument for bitcoin.
"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."
$9,677
"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."
Because a picture of a bitcoin looks like it's made of gold?
"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
$9738
I 'invested' in September. Today my investment has officially doubled.
Last edited by jllundqu; 11-27-2017 at 12:27 PM.
-Major General Smedley Butler, USMC,There are only two things we should fight for. One is the defense of our homes and the other is the Bill of Rights. War for any other reason is simply a racket.
Two-Time Congressional Medal of Honor Winner
Author of, War is a Racket!
- Diogenes of SinopeIt is not that I am mad, it is only that my head is different from yours.
Waiting for the next dip to throw some more play cash at it.
-Major General Smedley Butler, USMC,There are only two things we should fight for. One is the defense of our homes and the other is the Bill of Rights. War for any other reason is simply a racket.
Two-Time Congressional Medal of Honor Winner
Author of, War is a Racket!
- Diogenes of SinopeIt is not that I am mad, it is only that my head is different from yours.
Uh, no, because of the wealth transfer that will occur away from the elite.Because a picture of a bitcoin looks like it's made of gold?
"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."
Bitcoin is not widely used as a medium of exchange, and isn't going to be for the foreseeable future. Why? One can point to the extreme volatility or the high transaction costs, as @Gaddafi Duck mentioned, but there's a more fundamental problem. Fiat is dominant not because of its economic properties, but because of the gun. It might be that bitcoin would eventually prevail against fiat (or even against gold or other former market monies) in a free currency market, but there isn't a free currency market, nor any prospect of one arising in the foreseeable future. If bitcoin became a serious threat to the state's inflationary activities, bitcoin would simply be suppressed, as was gold in the past (and no amount of encryption et al can prevent this, since to be useful as a currency bitcoin must at some point interact with the real world). In any event, bitcoin is now primarily a speculative asset, not a currency, and the bubble will burst long before it becomes a major currency. If you're making $$$ (pun intended) in bitcoin, awesome, but see it for what it is .
Yeah, need like 20 fold increase in users to get there. Then what? Well, at that level of adoption it becomes very likely that everyone will know at least a couple other people that accept bitcoin. Then paying the babysitter in bitcoin is highly likely, paying the lawn guy, etc... At that point nearly every single person will know a "good" person that owns bitcoin, so the "criminal" narrative will be rather weak as well, if the try to spin it that way.
What that also means is if the "Goobermint" banned it they will have 10's of millions of middle class and higher americans pissed as $#@! at them. There is no way in hell for example I'd ever vote for politician that even toyed with the concept of banning bitcoin, and there is a good chance I'd donate to their opponent as well. Even if that was Rand Paul (doubt he'd do that).
The high transaction cost will likely be mitigated in 2018. There are schnorr signatures which help reduce the size of a transaction, there are the lightning network type proposals, which are very near from exiting testnet status and being deployed in real usage, and there is always the inevitable option of upping the block size, which will happen at some point. Sure it doesn't get us all the way there, but it's not like bitcoin is stuck forever.
All they'd have to do is tax transactions sufficiently to make bitcoin uncompetitive relative the (untaxed) dollar.
Very simple, already did it with gold, no one will notice/care/protest.
People and institutions are flocking to bitcoin because it's the newest and hottest asset class in the world. It's going to be a wealth transfer and settlement layer for large mulitnationals as worldwide central bank fiat continues to erode in value over time. In the mean time, it's the best and growing wealth storage protocol for everyone. LTC will be used as a digital payment hub because of its abilities in speed, size and its potential for confidential transactions and atomic swaps w/ bitcoin. Bitcoin's price will continually see higher highs and higher lows (than the previous) as this market keeps maturing and typically people don't spend assets as a currency for daily purchases, hence litecoin. Wait til yall see what litecoin is gonna do over the next 4 months.
Maybe some will stick around and wait for transaction costs to be mitigated but large institutions more likely will and already are investing in alternatives like Ripple that have addressed the transaction costs regardless of the coin value. The Ripple tech - payment system can also process more transactions per second.
I believe Bitcoin to be too volatile for the multi-nationals. Multi-nationals are signing on with Ripple, like UBS, SBI, etc and just last week American Express adopted the Ripple technology.
Inb4 $10k
9,925
"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."
Hoe
Leash
It
You're looking too narrow, it sounds like you are talking about the US rather than the entire world.
It's kinda like one of those balloons you use for balloon animals. There are places where there are problems with local currencies and economies and people are turning to bitcoin. If they try and squeeze it, then that in and of itself will make people realize the power it has which gives it more power and it will show people in other places the same thing and it will pop up somewhere else.
The elite try and control the globe the best they can, but they don't have total control. They are constantly herding.
"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."
Ripple is centralized, I've no idea why it is even listed on the crypto sites. They can have it. I'll go the gold route before I'd go the ripple route.
$9950
Cracked $10,000 briefly this morning.
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
"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."
The distribution of XRP is concentrated in that Ripple holds more than 60% of it but the XRP on the network is not controlled by anyone. Anyone can issue assets on Ripple. It is still a community coin that has value.
Bitcoin to some extent is also kind of centralized with companies that spent the most money to mine with ASICs having the most control. With XRP there is no mining since the coin was all pre-mined but the stakeholders can be changed by community agreement.
If Ripple Inc shutdown the consensus ledger/blockchain can continue to operate, unlike a centralized database. Financial institutions and people can and do operate validators in the network, and could stop trusting Ripple's validators as necessary, and just trust each other's validators.
Round numbers tend to be pretty key levels especially on more speculative stuff. Will be watching to see if Bitcoin trades through 10k then rejects hard.
Regardless will take stab short on GBTC at $1600 , which is a stock that holds Bitcoin and is trading at a 60% premium to Bitcoin.
I dipped my toe into a bitcoin-based stock for a few days and quickly learned that the stock was a manipulated pump and dump by a few people moving the entire stock. Lost a few bucks, sold and pretty much confirmed to myself that this whole space is a big scam. Throw it in the woods. I'm sticking with what's been money for at least 6000 years.
eta: Also had an additional confirmation of the controlled propaganda nature of this bitcoin thing when I was banned at another forum from posting on bitcoin threads. Clearly the main bitcoin pumper on that forum only wants an echo-chamber, not discussion. Huge red flag.
Last edited by devil21; 11-28-2017 at 02:36 PM.
"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
They do not make it easy. I have to give them my information and wait for a phone call. Is there another way to invest in GBTC?
I am kind of surprised at Bitcoin reaching 10k considering it does not scale as well as many of the other cryptos.
Long term when it comes to wide scale adoption, something to look at is how they all handle transactions per second.
I believe VISA is 24,000 per second.
You pay attention to a chart that can't even spell the heading correctly? ^^^
"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
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