Bitcoin, buy it now - $50k Resistence
- Thread starter nomad
- Start date
How much you got riding in this game?
Just seeing if your in the game heavy or sitting on the side line guessing weather it will fly or not.
I'm in for one coin. Bought at $2,300. I looked at it the same as putting $2300 on 29 black at the roulette table let's see where this wheel will stop.
I'm in for one coin. Bought at $2,300. I looked at it the same as putting $2300 on 29 black at the roulette table let's see where this wheel will stop.
rotts4u
BAMF
At least the USD is backed by the US military. Who backs Bitcoin? And how is it a real currency if you cant even buy anything with it? Every transaction is based in Dollars so why is it better than dollars if you have to pay for Bitcoin in dollars and sell it in dollars to buy anything?
luckystrike
he/him - Chief Diversity and Inclusion Officer
The beauty and robustness of bitcoin, is that it doesn't have to be backed by anybody
Nobody issues bitcoin, nobody owns the block chain
A time will come when commodities will be transacted in bitcoin, not the US dollar
When that time comes, it will be the end of the American empire
It will be the end of all empires. Truly, the first time, that the meek will inherit the earth...for real
a couple good EM pulses, some put contracts, and Valdimire is
it will take less than one generation for the meek to give all the money away, and the bankers that run shit now, will run shit again. They have no loyalty to dollars.
luckystrike
he/him - Chief Diversity and Inclusion Officer
You guys gotta get off the hollywood inspired EM pulses, it ain't happening like Ocean's 11
And...
Like the internet did to the recording industry and social media did to the big news orgs, the legacy banksters won't win this time
Everybody should get on an exchange and do a monthly exchange on the order of $50 FIAT for Bitcoin or Ethereum or both
Displacement of the FIAT banking system is not a question of 'if', but 'when'
The world will be a much better place
And...
Like the internet did to the recording industry and social media did to the big news orgs, the legacy banksters won't win this time
Everybody should get on an exchange and do a monthly exchange on the order of $50 FIAT for Bitcoin or Ethereum or both
Displacement of the FIAT banking system is not a question of 'if', but 'when'
The world will be a much better place
oddly enough I'm actually thinking with the amount of debt the US has right now bitcoin does have a certain je ne sais quoi
OP
nomad
BAMF
- Thread Starter
- Thread Starter
- #61
All true... now. but the only thing that remains constant is CHANGE!
The US economy is unsustainable. Its going to crash and when it does its going to freeze all banking that reuires liquidity to operate jut like in 2008. All credit will dry up again.
THEN
what will the military defend? worthless banknotes? Fort Knox Gold?
Bitcoin is "defended" by an impenetrable cypher that guarantees each block has not been tampered with. Its the manthematics that provide the security. no military required. No govt required. No boundaries, no devlautions, no borders can contain it. Its genius at a level that is undeniable.
Unfortunately BTC is not designed for micro transactions. Its simply a store of value that is borderless and impervious to govt control. Other coins seek to provide micro payment capability, but these coins threaten the VISA/MASTERCARD network which is a gold mine for the banking industry with fees and currency exchange costs. Bitcoin processes 4.6 transactions per second. Visa does around 1,700 transactions per second on average. There will be other coins that will handle the daily micro transactions. XRP looked good and I had a little of that... unfortunately. I also like some of the privacy coins, but you can bet the govt will restrict those.
No, Visa Doesn’t Handle 24,000 TPS and Neither Does Your Pet Blockchain – Blockchain Bitcoin News
When it comes to measuring the speed of new blockchains, the comparison is always with Visa. Despite not being a blockchain, the 24,000 transactions per
news.bitcoin.com
rumble phish
BAMF+
If it can be programmed, it can be hacked.All true... now. but the only thing that remains constant is CHANGE!
The US economy is unsustainable. Its going to crash and when it does its going to freeze all banking that reuires liquidity to operate jut like in 2008. All credit will dry up again.
THEN
what will the military defend? worthless banknotes? Fort Knox Gold?
Bitcoin is "defended" by an impenetrable cypher that guarantees each block has not been tampered with. Its the manthematics that provide the security. no military required. No govt required. No boundaries, no devlautions, no borders can contain it. Its genius at a level that is undeniable.
Unfortunately BTC is not designed for micro transactions. Its simply a store of value that is borderless and impervious to govt control. Other coins seek to provide micro payment capability, but these coins threaten the VISA/MASTERCARD network which is a gold mine for the banking industry with fees and currency exchange costs. Bitcoin processes 4.6 transactions per second. Visa does around 1,700 transactions per second on average. There will be other coins that will handle the daily micro transactions. XRP looked good and I had a little of that... unfortunately. I also like some of the privacy coins, but you can bet the govt will restrict those.
No, Visa Doesn’t Handle 24,000 TPS and Neither Does Your Pet Blockchain – Blockchain Bitcoin News
When it comes to measuring the speed of new blockchains, the comparison is always with Visa. Despite not being a blockchain, the 24,000 transactions per
View attachment 50601
rumble phish
BAMF+
You know what's really pissing me off about this fucking bitcoin surge? It's all these bitcoin miners and farms hoarding all of the GPU's on the market. The mid-tier GPU I bought 3 months ago for $239 (GTX 1660 Ti) is going for over $500 now IF you can find one. After the release of the new crop of GPU's that price should have dropped by at least 20%, not fucking more than double! 
What I paid for it on 10/19/20... $239.49 after $30 mail in rebate (which I just received today).
What I paid for it on 10/19/20... $239.49 after $30 mail in rebate (which I just received today).
luckystrike
he/him - Chief Diversity and Inclusion Officer
Not as easily as a bank and all current financial institutions
OP
nomad
BAMF
- Thread Starter
- Thread Starter
- #66
This is the face of your hacker
Yes thats true. So the guy that developed the blockchain idea included the requirement that the chain be stored at MULTIPLE locations, many all over the globe. The idea is that to hack the chain of blocks, you would need to simultaneously, change the chain in EVERY location AT THE SAME MOMENT because they all communicate with each other to verify EACH transaction.
While that is not theoretically impossible, it could be compared with getting a room full of cats to pose for a picture at the same time.
The other problem a hacker faces is the military grade cypher that is used to encode each block like Rijndael
Advanced Encryption Standard - Wikipedia
en.wikipedia.org
This is the software equivalent of fort knox for gold.
Keep in mind that each block in the chain is the STARTING POINT for the next block. Each block in the chain is created ONLY when a hash of the previous block is some nice round number.
Of course, solving the hash for a bitcoin block – which at the time of writing must start with 18 zeros – requires an extremely large amount of computation
This is like a train where each car is linked to the one before and after it.
There are some very bright people that assess the risk of all this failing or a brute force attack on a hash succeeding and its in the realm of next to impossible
Then there is the community. Everyone, you and me has a vested interest in the security of this block chain. Lets say there was a major hack, like the ones seen at exchanges. The coins a moved to another address. Its happened. These addresses are linked to someone somewhere. Once that is discovered by the intelligence services, as in the case of the silk road guy, the account is blocked on all exchanges so he cant convert it. Then usually he is arrested as we saw with Mr Vinnik, a Russian, arrested in Greece, tried in France.
Russian Sentenced to Jail in France for Money Laundering - The Moscow Times
French prosecutors accused Alexander Vinnik of making 135 million euros, or $164 million, from ransomware attacks.
As the cap of BTC increases the more mainstream it becomes in terms. Big institutions are in it now. They carry a LOT of weight politically. If their money gets stolen by some hacker, the politicians and the lawmen are going to get a fire lit under their ass to do something.
THE MOST IMPORTANT THING ABOUT BITCOIN is that it is a voting system for the PEOPLE against the BANKING ESTABLISHMENT that enslaves the world in debt and charges Billions in "fees" and currency exchange "costs". THIS is the ugly face of capitalism that strangles free enterprise and small business. This is the biggest factor for most retail investors like you and me.
I choose to invest in vehicles like this rather than biotech stocks or google even though BTS is more volatile and risky (for now)
Last edited:
Squidwerd
Ze Squidwerd
There is as much gold in fort Knox as there is honest people in our federal govt. So maybe a few specs.
OP
nomad
BAMF
- Thread Starter
- Thread Starter
- #68
By the end of 2021, BTC will trade at $318,000 according to the prediction from Citibank analyst Tom Fitzpatrick.
The analyst Mike McGlone from Bloomberg has also predicted some future bitcoin (BTC) prices and said that by 2022, BTC could tap $170k
This summer, the cofounder of crypto-analysis firm Blockfyre, Simon Dedic, predicted that BTC will touch a high of $150k
Seeking Alpha financial columnist Anton Wahlman believes bitcoin is worthless
news.bitcoin.com
The analyst Mike McGlone from Bloomberg has also predicted some future bitcoin (BTC) prices and said that by 2022, BTC could tap $170k
This summer, the cofounder of crypto-analysis firm Blockfyre, Simon Dedic, predicted that BTC will touch a high of $150k
Seeking Alpha financial columnist Anton Wahlman believes bitcoin is worthless
Zero to $318,000: Proponents and Detractors Give a Variety of Bitcoin Price Predictions for 2021 – Markets and Prices Bitcoin News
During the last year, a number of pundits, experts, luminaries, and speculators have predicted bitcoin’s 2021 price.
news.bitcoin.com
rumble phish
BAMF+
Well, I finally found a GTX 1660 Super OC selling for what it should sell for. Picked it up off of Newegg's eBay site for $239. Now I can finish my son's PC properly. 
bowtie
BAMF+
any suggestions for places to start buying bits?
Simplest is Robinhood.
bowtie
BAMF+
thanks anal, went with coinbase.
Last edited:
Dragon 350
BAM
- Joined
- May 2, 2018
- Messages
- 457
luckystrike
he/him - Chief Diversity and Inclusion Officer
I've been with coinbase since '17 for no particular reason
BTC punching through $29K a few hours ago
Trading at @28,687 as I type this
BTC punching through $29K a few hours ago
Trading at @28,687 as I type this
bowtie
BAMF+
they didn't have much support or research available, although those could be accomplished elsewhere I suppose.
bowtie
BAMF+
Just bought my 1st bitcoin, or rather .00534910 of one. 
luckystrike
he/him - Chief Diversity and Inclusion Officer
You should see a bunch of Coinbase tutorials on Stellar Lumens, Compound, Maker, etc. If you sit through them and answer some really simple questions, you will be awarded with like $50 in coins from each which you can then convert to BTC or ETH...Just bought my 1st bitcoin, or rather .00534910 of one.
Last edited:
luckystrike
he/him - Chief Diversity and Inclusion Officer
29054
luckystrike
he/him - Chief Diversity and Inclusion Officer
It's going to $1M
OP
nomad
BAMF
- Thread Starter
- Thread Starter
- #85
"Mining" Bitcoin is a power hungry enterprise involving dozens of computers so he used power from a hydroelectric station, in partnership with a local Chinese government official.
not so costly when you have your own private hydroelectric power plant!
But now he sees a new force emerging - a payment system created by the Chinese state and known as Digital Currency Electronic Payment (DCEP).
It's really a digital version of China's official currency, the yuan, and Mr Guo feels DCEP will become the dominant global currency. "One day everyone in the world will be using DCEP," he says
"DCEP is the antithesis of Bitcoin. The ultimate goal of a cryptocurrency is the separation of money and state," says Stewart Mackenzie, a cryptocurrency expert based in Hong Kong. "It's easy for them to say that it's like Bitcoin when it's worlds apart."
Linghao Bao agrees. "DCEP is built on an idea of centralised control. The value of Bitcoin lies in its decentralisation nature and its isolation from the financial system," Mr Bao says.
BigGar
high on placebo
$32,805
luckystrike
he/him - Chief Diversity and Inclusion Officer
"In a world of infinite money printing, scarcity matters"
luckystrike
he/him - Chief Diversity and Inclusion Officer
luckystrike
he/him - Chief Diversity and Inclusion Officer
luckystrike
he/him - Chief Diversity and Inclusion Officer
There will be ups and downs
But this ain't no bubble
It will replace gold
And eventually the US dollar as the world's reserve currency
But this ain't no bubble
It will replace gold
And eventually the US dollar as the world's reserve currency
luckystrike
he/him - Chief Diversity and Inclusion Officer
luckystrike
he/him - Chief Diversity and Inclusion Officer
The 'panicked' state of the world is key to the rise of crypto
The more panicked, the better for crypto
The more FIAT printing, the better
At the first sign of world economy recovery, is when crypto will crash...temporarily
luckystrike
he/him - Chief Diversity and Inclusion Officer
The best thing that could happen to crypto is crashing economies
Bitcoin goes more or less in the opposite direction to the US dollar...and the dollar is selling off
Crypto is soaring because it's a hedge against economic collapse. Gold is enjoying a nice ride, too. But gold will be replaced by Bitcoin at some point as people realize it's a useless asset
Disclaimer : I own exactly 0 crypto
in the history of trading all things, no traded security has gone straight up defying gravity. When you do see this it creates a euphoria, FOMO (for of missing out), and people who are normally more level headed will eventually say what the hell. Have I looked at it? You bet.
This is all fine and I congratulate everyone who has made money here. But remember this, until you convert your bitcoin to something else, it really is nothing. Just a number on a screen. No different than any other security.
Also know that these meteoric rises can take weeks or months, or years....when, not if it starts to go the other way, the door out gets really really small. This means the rate of a sell off is much higher than the rate of growth.
One of the really interesting parts of this is that there are other competing crypto currencies. This means that people might jump from one ship to the next. This would also potentially excellerate a decline as people will see the brand X currency start to take off (FOMO).
will it be the end of bitcoin? Highly unlikely.
I dont own any bitcoin. I also am not advising people to buy it, not buy it, sell it, hold it, ignore it or what ever. I am also not ruling it out as a hedge and may in fact buy into it at some point. I would prefer to wait however for a really big sell off but thats just me.
This is all fine and I congratulate everyone who has made money here. But remember this, until you convert your bitcoin to something else, it really is nothing. Just a number on a screen. No different than any other security.
Also know that these meteoric rises can take weeks or months, or years....when, not if it starts to go the other way, the door out gets really really small. This means the rate of a sell off is much higher than the rate of growth.
One of the really interesting parts of this is that there are other competing crypto currencies. This means that people might jump from one ship to the next. This would also potentially excellerate a decline as people will see the brand X currency start to take off (FOMO).
will it be the end of bitcoin? Highly unlikely.
I dont own any bitcoin. I also am not advising people to buy it, not buy it, sell it, hold it, ignore it or what ever. I am also not ruling it out as a hedge and may in fact buy into it at some point. I would prefer to wait however for a really big sell off but thats just me.