Bitcoin, buy it now - $50k Support

Rhino

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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. :)
 

rotts4u

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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

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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?
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
 

maui

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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?
a couple good EM pulses, some put contracts, and Valdimire is
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
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

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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
 

maui

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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
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
 
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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?
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.




50601
 

rumble phish

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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.




View attachment 50601
If it can be programmed, it can be hacked.
 

rumble phish

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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! :fu: :dash2:

50614

What I paid for it on 10/19/20... $239.49 after $30 mail in rebate (which I just received today).

50615
 

Truth

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One well placed Taylor Swift missile can bring Bitcoin to it's knees🧐
 
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This is the face of your hacker


If it can be programmed, it can be hacked.
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

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.


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)

50675
 
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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

 

rumble phish

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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. :up:
 

luckystrike

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Just bought my 1st bitcoin, or rather .00534910 of one. :razz:
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...
 
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A23

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I looked up my BTC purchase history today. I started buying strictly to facilitate my gambling habit.

When the BTC gains outpaced my betting losses I started to take it seriously...:biggrin1a:
 
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"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.
 
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Now its in bubble territory. Pity. Its gonna give back between 61% to 78% of these gains in the first quarter would be my guess. The question now is when to bail on half the position
 

luckystrike

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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
 
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nothing goes straight up and stays there, even BTC... It will retrace and consolidate. Keep in mind the panicked state of the world right now
 

luckystrike

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nothing goes straight up and stays there, even BTC... It will retrace and consolidate. Keep in mind the panicked state of the world right now
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
 

whipit1K

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Dumbest gold rush ever. when economies actually crash, and they will, crypto will be gone in a key stroke. Not worth the paper it isn't printed on
 

luckystrike

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Dumbest gold rush ever. when economies actually crash, and they will, crypto will be gone in a key stroke. Not worth the paper it isn't printed on
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
 

maui

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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.
 
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