HODL til 2024 Crypto Bull Run

[Castle2.0]

BTC, ETH, XCH, HNT

I'll be back on Green 3.0 to tell you I told you so.

[hobart]

Will this be just like the way you told us Donald Trump would win in 2020? I'm guessing so.

[maskedmelon]

Why not sell the bottom tho? 🤔

[Jibartik]

ADA

[maskedmelon]

FTM

[Pulgasari]

FTM

Why not sell the bottom tho? 🤔

[Jibartik]

ABC, BBD (https://youtu.be/Rciee-oQLoI?t=43)

[Nocht]

LOL

[Castle2.0]

Pick any 4 year period.

If someone held BTC, did they gain or lose?

You can either get some and thank me in 4 years, or not, and I get to say I told you so =)

This no-lose situation drew me to the off-topic forum =)

Oh, and stay away from DOGE and all that crap.

[Jibartik]

I agree with you to an extent but you do sound like the guy who just took out a loan to buy stocks in 1929

[Castle2.0]

Dot Com bubble... Amazon just hit over $100. People said it was too expensive.


Fast forward 20 years. Amazing is now trading now over $3,300. Funny how things go.


My bitcoin can remain in cold hard storage far longer than the market can remain irrational.

If you want a get-rich-quick scheme, try Vegas or margin trading penny stocks.

I'm about that get-rich-slow scheme.

Take a look at M2 supply. Oh wait, they discontinued reporting it in February of 2021 when we were printing oodles of money? Source: https://fred.stlouisfed.org/series/M2

What about M1? https://fred.stlouisfed.org/series/M1SL

When you understand the boom-bust cycle, the history of money, the monetary policy of fractional-reserve modern banking, etc... or ANY of it... it's obvious where things are going.

Most people just don't understand crypto or how it works. They don't know that Bitcoin is unforgeable, it's the most powerful computer network in the world...

I'm not here to argue it. Take it or leave it. Just here to mark a day, so in 4 years I can come back and /dance. We celebrate together here or I celebrate alone here =)

[Toxigen]

laughs in weaponized autism

[Jibartik]

4 years from now: *smoldering crater

[TheBardo]

Need I remind you all that this is the guy who spent weeks of his life farming scrolls to achieve the fastest 1-50 in server history. His judgement is clearly impeccable.

[Castle2.0]

Sounds like a guy that sleeps on a factory floor. What a loser.

[Smoofers]

There is a shit load of institutional money flowing into crypto right now. Good signal because 1) insitutional money doesn't scare off as easily 2) generally means higher floors and 3) anyone that is holding 10,000 BTC has a very vested interested in making sure regulation doesn't kill crypto

[Jibartik]

Cardano is the ETH that is good for the environment.

[Gwaihir]

Cardano should be pegged to the price of a can of 2-11 Steel Reserve

[hobart]

There is a shit load of institutional money flowing into crypto right now. Good signal because 1) insitutional money doesn't scare off as easily 2) generally means higher floors and 3) anyone that is holding 10,000 BTC has a very vested interested in making sure regulation doesn't kill crypto

I'm betting on 3. Following that trail is key to protecting your investment against government overreach. As long as the right people keep getting richer, regulation talk will continue to just be talk.

[Arvan]

FTC currently reporting on a boom of cryptocurrency scams. Seems legit.

[Octopath]

XRP

[Castle2.0]

I'm betting on 3. Following that trail is key to protecting your investment against government overreach. As long as the right people keep getting richer, regulation talk will continue to just be talk. Compared to crypto, gold was easy to confiscate. You can keep a 12 word phrase in your head and a government can never touch your crypto.

Whoever overregulates crypto, like China, will lose out.

They can tax it, they can ban mining it, but they can't ban holding ​it. They can get away with trying to tax it like stocks or other investments. If they try to use taxes to kill it, good luck.

There are decentralized exchanges, like uniswap, where people can buy and sell without a trusted third party. It's a protocol. The government has no one to go to ask for personal data - none is collected.

There are privacy coins like Monero and Firo. Some don't show who sent, who received, or how much was sent.

The Laffer Curve for crypto is heavily bent against the government. That's good because it will keep taxes low.

FTC currently reporting on a boom of cryptocurrency scams. Seems legit.
FTC currently reporting stock scams. All stocks aren't legit, especially OGs like Coke an Disney. Stay out of the stock market to be safe.

[Arvan]

Compared to crypto, gold was easy to confiscate. You can keep a 12 word phrase in your head and a government can never touch your crypto.

Whoever overregulates crypto, like China, will lose out.

They can tax it, they can ban mining it, but they can't ban holding ​it. They can get away with trying to tax it like stocks or other investments. If they try to use taxes to kill it, good luck.

There are decentralized exchanges, like uniswap, where people can buy and sell without a trusted third party. It's a protocol. The government has no one to go to ask for personal data - none is collected.

There are privacy coins like Monero and Firo. Some don't show who sent, who received, or how much was sent.

The Laffer Curve for crypto is heavily bent against the government. That's good because it will keep taxes low.


FTC currently reporting stock scams. All stocks aren't legit, especially OGs like Coke an Disney. Stay out of the stock market to be safe.

Holy crap man you are like a walking talking version of the dunning-krueger effect

[Jibartik]

Didn't they catch the Russian hackers specifically because they used BC?

[Pulgasari]

Didn't they catch the Russian hackers specifically because they used BC?

Did they catch them? I thought they just had the password to (1) of the wallets they used and knicked it back.

[Castle2.0]

Holy crap man you are like a walking talking version of the dunning-krueger effect Thanks mate, I am as famous as Freddie Krueger? Very impressive.

No, I think that Dun & Krueger rumor about me was debunked, but what do I know? ;)

i appreciate the ADulation, HOMeboy! serIously, NicE to hear you explain Money and the holes in my logic so eloquently.

I'm sorry you hold fiat in your bank and it's losing value at an incredible rate.

I'm also sorry you have experienced 3 (we're in third) crypto bull runs, but you still don't get it, let alone the underlying fundamentals. Go read The Cost of Tomorrow. Thank me later.

Didn't they catch the Russian hackers specifically because they used BC? If they used a centralized exchange and went through KYC, sure. Didn't catch that story.

Did they catch them? I thought they just had the password to (1) of the wallets they used and knicked it back. If they used a custodial service with their "wallet" then it's possible. I haven't heard of such an individual wallet being accessible by some central service to be knicked back. Remember kids, "not your keys, not your crypto." If someone knows your private keys, your crypto ain't safe.

IOW, if you do dumb stuff, you will get pwned. haveibeenpwned.com?

Don't be dumb. Be https://www.youtube.com/watch?v=3H2CKTRqOEQ

[Castle2.0]

If you've followed gold, maybe you know about "stock to flow" model. If not, google it.

Gold's mining rate is relatively constant, but Bitcoin's is fixed and halved every 4 years, until the finite 21,000,000 supply limit is reached in a few decades.

Almost 90% of all BTC is already mined and only 900 are produced a day currently.

You do the math. BTC is replacing gold as a hedge against inflation. It's better.

[HalflingSpergand]

LOL

[Castle2.0]

Please translate your "REEE" into English, kthx.

[Castle2.0]

=) Hey guys. How's your investments?

[Jibartik]

it's like march all over again!

Holler at us when it drops down to 32 again and ill buy some

[Castle2.0]

The good news is if you didn't buy BTC at $32,000 3 weeks ago, you can still buy it today for $47,000.

Better than buying it at $100,000 ;)

[Jibartik]

This must be how my dad felt last year.

[Castle2.0]

I hope no one took my advice on August 2 to buy BTC, ETH, XCH, HNT, and sold today. Because their profits would only look like this:

COIN -- Aug 2 price -- Today's Price & percentage change

BTC -- $39,000 --> $45,800 -- +17.4%
ETH -- $2,600 --> $3,180 -- +22%
XCH -- $230 --> $263 -- +14%
HNT -- $13.11 --> $22.27 -- +69%


Keep HODLing til 2024 ;)

[Jibartik]

ADA --> 4,000%

[Castle2.0]

Actually, for ADA... Aug 2: $1.36, Today $2.07. 52%. Not bad.

No idea where it will be in 4 years, I'm not invested nor follow ADA.

[Jibartik]

ADA

https://i.imgur.com/cL44ywA.gif

[Castle2.0]

$2.94 nice!

I already 2x'd on HNT. That was fun. Looking for more growth though. Fundamentals are looking good. Miner growth is insane. ~140k miners on network with +40k per month.

BTC should dance with $51K and if it breaks, we're looking for $55K.

[Jibartik]

Just think, if ETH and ADA actually compete, how much your $2.94 will be worth get in now.

August was the month I was told about 6 months ago would be the start of their run. I'm actually in shock. Nobody delivers on promises this day and age lol

[Octopath]

So if the 2024 bull run has already begun in 2021, will there be another big pull back from the current bull run before the inevitable 2024 bull run? Or is it best to just buy some eth right now and sit on it.

[Jibartik]

So if the 2024 bull run has already begun in 2021, will there be another big pull back from the current bull run before the inevitable 2024 bull run? Or is it best to just buy some eth right now and sit on it.

Buy ADA at 2$ rather than ETH at 3k IMO ETH Is more stable, but IMO not by much, only because it was first. (I own a lot of ETH not looking to compete just want competition!)

Nobody knows what is happening here if one (BTC) of these goes up they all go up.

Smart contracts are on track to go live August 31. IMHO shortly after that, (one or two months), ADA's market cap will be equal to ETH.

Could you imagine if I was right and you bought 100 shares at $2?

[Castle2.0]

Might be another cycle with a bear market -- might be the last cycle and we reach relative equilibrium like fiats... but think about it:

Fiats keep inflating. It can only drive up price of valuable assets that are impossible to forge or create more of.

Bitcoin is the big middle finger to the entire fractional reserve (now no-reserve) banking system. Hopefully it destroys it.

So if the 2024 bull run has already begun in 2021, will there be another big pull back from the current bull run before the inevitable 2024 bull run? Or is it best to just buy some eth right now and sit on it. If you want to just buy and hold til 2024, I'd say go BTC as safest bet with a great upside. Other coins are much more volatile.

In the bull run, small c(r)ap coins will outpace BTC. In the bear market they get destroyed compared to BTC. In an ideal world, you're a genius and you know which small c(r)ap coin to get in on and can time the peak... but... no one really can.. so I say BTC is the best 'HODL' strategy.

All the coins I recommended will do well during the bull market, but over 4 years if I had to pick 1 coin for the greatest likelihood of the best return, it's BTC.

[Jibartik]

This is a fun video.

8COArd_EREw

[imperiouskitten]

Gahdzhanist truth is that I am with the OP. I hoe'd and I hoe'd and I spent it all on video cards. There is a grow tent here exhausting so much hot air I blew dried my hair with it, but it was too hot and I got flaky scalp!!! I have thrown big die. I really like the 6700 XTs btw, firfst time I used a radeon desktop card and i really like it. I think I prefer their implementation of DLSS too but I haven't studied it; image looks just INSANELY clear. Not that I play games, i just enjoyed the testing alot. And the power efficiency is great and they run cool with pretty good algo efficiency actually; they are less inflated and a better buy at market rates. Although the 3070 seems to be the very sweetest spot when purchased under market rate from locals. I am producing more than enough to live on and holding it all. This coming from a person who did not hold thousands of $2 bitcoins in 2011. You will be able to tell whether I ruined myself or not based on later news lol, but i made a play at least. Deleting this soon, dont quote it pls :P

[Octopath]

This is a fun video.

8COArd_EREw

Indeed it was, Thankyou for sharing

[Octopath]

Buy ADA at 2$ rather than ETH at 3k IMO ETH Is more stable, but IMO not by much, only because it was first. (I own a lot of ETH not looking to compete just want competition!)

Nobody knows what is happening here if one (BTC) of these goes up they all go up.

Smart contracts are on track to go live August 31. IMHO shortly after that, (one or two months), ADA's market cap will be equal to ETH.

Could you imagine if I was right and you bought 100 shares at $2?

I bought 100 shares of ADA. I’ll probably buy some more but I’m waiting to see if there any early week pull back.

I was curious if you guys have any experience on Cosmos(Atom). I read on another forum that it is a good investment but I honestly never see anyone talking about it.

I agree that Bitcoin is probably the best long term but I don’t have a ton to drop on it so I wouldn’t see much return.

[Castle2.0]

*sips his tea as he watches the markets*

[Castle2.0]

COIN -- Aug 2 price -- Today's Price & percentage change
BTC -- $39,000 --> $49,700 -- +27%
ETH -- $2,600 --> $3,760 -- +44%
XCH -- $230 --> $225 -- -2%
HNT -- $13.11 --> $23.30 -- +77%

Ah man, hobbitgerblandwhateverhisname so mad right now he didn't invest -_-

[Castle2.0]

$100K BTC by end of year.

Predictions?

[cd288]

Pick any 4 year period.

If someone held BTC, did they gain or lose?

You can either get some and thank me in 4 years, or not, and I get to say I told you so =)

This no-lose situation drew me to the off-topic forum =)

Oh, and stay away from DOGE and all that crap.

I mean depending on the four years in question and when you’re starting and ending the period they could’ve definitely lost. That’s why intelligent investors don’t look at things that way

[Castle2.0]

I mean depending on the four years in question and when you’re starting and ending the period they could’ve definitely lost. That’s why intelligent investors don’t look at things that way

Pick any day on the BTC to USD chart below and add 4 years. Historically, never a loss.

Intelligent investors are following the macro.

They identify trends and invest heavily in the few obvious 'winners.'


Money & Blockchain
Genome sequencing
Robotics
Energy storage & Electric cars
AI


Look for these. But the easiest, most certain of any of these is Bitcoin (Money & Blockchain.)

Bitcoin is superior money. It's an easy, no-brainer investment (once you understand it) and it's going to 10-20x+ in the coming years.

[bubur]

real tentative market short term. for big investments yes can gain 4x but can lose 80%. lol. you'd have to be crazy to invest now, but maybe a little crazy is what it takes to make it. few hundo here and there is all im doing now

same thing you could say a month ago though. and if you invested then, you'd find yourself able to put up some stop losses well above your entry and well below the current volatility. pray no scam wick and let it ride

and if you got in earlier than this year, just hold forever

[imperiouskitten]

$100K BTC by end of year.

Predictions?

been calling that since January. i am getting a little down on the prospect of this year, but i think within 24 months is v likely.

[bubur]

hey welcome and thanks for jumping BACK INTO the cryptoverse

cycle could be lengthening, or bucking a trend. imo literally no reason to think that's the case given everything has played out exactly as it has in previous cycles. lots of emotions around

and that's a good thing. take what you will from this info

[bubur]

im about to lose money on algorand, because i set my stop at 1.86. and i have a rule i set a strategy and will not falter from it

probably means its a good time for every other living soul that is not me to invest

(please)

[Jibartik]

Solana a buy?

[bubur]

I DONT KNOW

WHAT DOES IT DO?

[Castle2.0]

Solana a buy?

No. Textbook parabolic stage.

[imperiouskitten]

i gotta poast some pics of my new giant space heater with noise insulation frame i builted with lumber n fancy foam. it's getting pretty crazy. producing more than enough to pay all teh bills day to day :) but im hodling instead. Also I am strapped heavy and never leave the house if ur cruising for a mark, so this is fine opsec.

[bubur]

thanks to all that boughted algo last nite

u a real one

[bubur]

excuse me , but the number go down. can i speak with the helpdesk

[Patriam1066]

I mean depending on the four years in question and when you’re starting and ending the period they could’ve definitely lost. That’s why intelligent investors don’t look at things that way

You’re arguing with methheads who don’t have degrees, work hourly, and perceive themselves to have no chance at working even less than they do now other than to gamble on Bitcoin. The vagaries of intelligent investing will be lost on them

I have to agree with Hobart though. At least the golf courses are empty

[Castle2.0]

You’re arguing with methheads who don’t have degrees, work hourly, and perceive themselves to have no chance at working even less than they do now other than to gamble on Bitcoin. The vagaries of intelligent investing will be lost on them

I have to agree with Hobart though. At least the golf courses are empty

Do you speak English sir? Let me know if you can understand these 2 sentences.

Pick any 4-year period in Bitcoin's history. If you bought and held for those 4 years. You made money.

[Jibartik]

The only way to win at bitcoin is not to talk, think, or look at bitcoin until your 20 year timer after your investment is up.

Or be a billionaire and make a years worth of income in one dip.

Like you either are a day trading junky or you believe in BTC

[Castle2.0]

The only way to win at bitcoin is not to talk, think, or look at bitcoin until your 20 year timer after your investment is up.

Or be a billionaire and make a years worth of income in one dip.

Like you either are a day trading junky or you believe in BTC

[imperiouskitten]

You’re arguing with methheads who don’t have degrees, work hourly, and perceive themselves to have no chance at working even less than they do now other than to gamble on Bitcoin. The vagaries of intelligent investing will be lost on them

I have to agree with Hobart though. At least the golf courses are empty

I have better degrees than yours (or your children's) and retired 30 years younger than you. I also carry more decency and charm, demonstrably. You are fully boarded onto the ship of delusional insecurity.

I am looking for better than 10% gains. 10% gains are good enough for you because you are comfortable working to 60. Call it dumb not to waste 30 years pushing paper, degenerating into a crotchety, nasty, insecure old piece of trash like you who is open about inability to understand high school biology but I disagree -- I saved my soul, dignity, intellect, and youth.

But do keep posting here...rarely...always making sure to explain that your fingers are still in your ears. You have been profoundly injured by that long labour of self-destruction which is your pride and joy. That hatred you project into me I must assume is a reflection of the pain of that journey. I wonder if you had to scare any of your kids you are insecure about straight along the way.

[Jibartik]

I hear some wild things are goign to happen over the next few days and the market drops today are just the start of it.

There is some kind of holiday and the markets are closed for a day or something but there's rumors of big sell offs?

I wonder how this will affect our markets particuarlly crypto, prob not good but as a crypto fan I am waiting for that day when everyone puts their money into it, because all the gov's are collapsing.

Root for the end times w/ me baby it will make us all rich! BTC backbone of the new worlds economy!

I have zero clue what I am talking about but the end is nigh I hope!

[Castle2.0]

Buy the dip, like the El Salvadorian Presidente.

[Penish]

I have better degrees than yours (or your children's) and retired 30 years younger than you. I also carry more decency and charm, demonstrably. You are fully boarded onto the ship of delusional insecurity.

I am looking for better than 10% gains. 10% gains are good enough for you because you are comfortable working to 60. Call it dumb not to waste 30 years pushing paper, degenerating into a crotchety, nasty, insecure old piece of trash like you who is open about inability to understand high school biology but I disagree -- I saved my soul, dignity, intellect, and youth.

But do keep posting here...rarely...always making sure to explain that your fingers are still in your ears. You have been profoundly injured by that long labour of self-destruction which is your pride and joy. That hatred you project into me I must assume is a reflection of the pain of that journey. I wonder if you had to scare any of your kids you are insecure about straight along the way.

and this is the authority on delusional insecurities, lol

[Whale biologist]

I hear some wild things are goign to happen over the next few days and the market drops today are just the start of it.

There is some kind of holiday and the markets are closed for a day or something but there's rumors of big sell offs?

I wonder how this will affect our markets particuarlly crypto, prob not good but as a crypto fan I am waiting for that day when everyone puts their money into it, because all the gov's are collapsing.

Root for the end times w/ me baby it will make us all rich! BTC backbone of the new worlds economy!

I have zero clue what I am talking about but the end is nigh I hope!

I'm thinking Trudeau is toast tonight. 🐶

[Jibartik]

I'm thinking Trudeau is toast tonight. 🐶

This could get interesting. 🎥👓🍿

[Whale biologist]

This could get interesting. 🎥👓🍿

It's really messed up that the Liberal-heavy eastern provinces results get released first.

Who are they trying to fool? Where's the integrity?!?

[Jibartik]

https://www.bbc.com/news/technology-58678907
I expect big dips coming for the new blood that wants in.

edit ETH ouch :(

Remember if you have crypto dont look lol Just let it go away, it will come back in 5 years.

Or dump it so the 20 year old's market crashes sooner and more people are willing to join the draft because what else do they have to lose.

[Castle2.0]

China FUD is dumb. How many times is "CHINA BANS CRYPTO" going to be a headline.

Who cares. China wanted a currency they can fully control. They are starting to wise up, the major cryptos are not within their control.

They can go kick rocks and be poor while the rest of the world enjoys freedom and propserity.

[Jibartik]

You might find like the rest of America that what is under their control is the global economy

[Castle2.0]

BTC $60,000

Huehuehue

[Nedion]

BTC $60,000

Huehuehue

It is said that this could skyrocket to $ 100k over the next 3 years .. Although I am not inclined to be so optimistic as to buy at such a price today to make a profit in three years (or not). But no one is stopping me from using my accumulated bitcoins for small transactions. I am planning to visit their website (https://trustdice.win/crash) and slightly increase my assets through games. I really think that this is no worse than trying to make money from Tesla shares or the stock exchange in general .. It all rises and falls, rises and falls. My goal is to see the wave and ride it.

[Swish]

Top recommends on a crypto wallet? Bought a small amount of bitcoin 4 years ago but I think a new wallet is in order for what I want to invest/gamble with :D

[imperiouskitten]

aside from illness, a very excellent week. grow machine, grow!

[Castle2.0]

It is said that this could skyrocket to $ 100k over the next 3 years Breaking $100k by end of year is far more likely than in 3 years. Might not hold above $100k for now, but $75-100k is my target for EOY.

Swish, get a Trezor or Ledger hardware wallet. Buy directly from the makers, not a reseller on Amazon or elsewhere.

[Jibartik]

BTC will be lucky if it hits 75 this bull run but I predict it will just come close to 70, then it will collapse to like 42

That's what I am thinking.. but will I act on that thinking is the question.

[Jibartik]

Boomers: I heard large amounts of crypto is owned by big whales so I dont trust it.

also boomers: https://i.imgur.com/i8nfrbE.png

[Smoofers]

Proof of work coins that don't generate value are bad investments, hope this helps

[imperiouskitten]

BTC will be lucky if it hits 75 this bull run but I predict it will just come close to 70, then it will collapse to like 42

That's what I am thinking.. but will I act on that thinking is the question.

To be honest I am putting my money exactly where your mouth is. Liquidated a chunk at 60k. If it hits 100k on this run I won't even be mad, since all proceeds immediately go to increasing revenue, which expands to scale with bitcoin price. :) Just got to get buying before hardware costs match updated ROI calc.

If I were actually playing the coins themselves I would tend to agree that ETH staking is better than just buying buttcoin. I am more than a little concerned about the transition to piece of shit, I mean proof of stake, in etherium. but it keeps life spicy :)

Not THAT concerned though. So long as moloch is worshiped, IOUs for environmental destruction and human suffering -- proof of "work" -- will always be exchangeable for USD imo.

[Jibartik]

Nice! I think you made the right bet!

Now buy a bunch of ADA so we can both be ADA millionaires one day.

[Castle2.0]

Proof of work coins that don't generate value are bad investments, hope this helps

Hehe, Beavis, this guy doesn't know the value offered by Bitcoin, hehe.

Bitcoin is superior money. Imagine gold, but purely digital and 100% verifiable the circulating amount, and 100% unforgeable, and limited in supply regardless of what the govmint wants to do. 100% permissionless, no one can stop you from sending or receiving money.

If you don't get this, read up on it more. If not, you'll miss it. That's okay. But when you're kicking yourself in 5 years or got your head in the sand still in 10.. you'll remember, Castle told you so <3

"But you can melt it down and make jewelry, man!" Dang, got me there... That's predominantly why average people buy gold in various forms and financial instruments, because they can make gold jewelry with it.

[Whale biologist]

Hehe, Beavis, this guy doesn't know the value offered by Bitcoin, hehe.

Bitcoin is superior money. Imagine gold, but purely digital and 100% verifiable the circulating amount, and 100% unforgeable, and limited in supply regardless of what the govmint wants to do. 100% permissionless, no one can stop you from sending or receiving money.

If you don't get this, read up on it more. If not, you'll miss it. That's okay. But when you're kicking yourself in 5 years or got your head in the sand still in 10.. you'll remember, Castle told you so <3

"But you can melt it down and make jewelry, man!" Dang, got me there... That's predominantly why average people buy gold in various forms and financial instruments, because they can make gold jewelry with it.

Haven't been on gold since the 70s, dingus.

Catch up!

[Whale biologist]

xhlhDuOukKs

Pokesan easily claims the 88th post

[Homesteaded]

https://www.youtube.com/watch?v=n0NYBTkE1yQ

[Whale biologist]

https://www.youtube.com/watch?v=n0NYBTkE1yQ

QE and liquidity swaps aren't what you think.

Tromp bad.

[Jibartik]

I keep telling old people one day someone is going to want to move their physical wealth from mars to earth and back and with gold that would cost a fortune and with bitcoin it'd be an email.

And they are like "are you freaking insane?!"

[Homesteaded]

QE and liquidity swaps aren't what you think.

Tromp bad.

What do you think I think they are? What do you think they are?

[Jibartik]

How do you make a crypto currency I heard it is easy. I want to make one called NWO coin and make it all about hard antichrist new world order goals.

[Jibartik]

Anyone think the 600$ bank info's to find out if people are moving millions through their bank accounts, is going to only increase bitcoins value, because they wont be looking at crypto wallets?

[Castle2.0]

I keep telling old people one day someone is going to want to move their physical wealth from mars to earth and back and with gold that would cost a fortune and with bitcoin it'd be an email.

And they are like "are you freaking insane?!"

Or the next Weimar Republic... banks won't move your money. Shippers won't move your art. Physics won't let you move your property. Bitcoin, you don't even need to move it. It just goes with you =)

[Homesteaded]

How is it different than needing an account number to access your money from a bank?

Bank == Blockchain

Private key == account number

Change my mind.

[Jibartik]

because billionaires actually have metric tons of gold.

This is for the people that matter, the things they do are alien to us. But BC would save them billions in storage fee's alone and one day moving gold from planet to planet will be a silly way to exchange assets.

Also golds value is a construct, it's just a rock lets be realistic.

[Whale biologist]

because billionaires actually have metric tons of gold.

This is for the people that matter, the things they do are alien to us. But BC would save them billions in storage fee's alone and one day moving gold from planet to planet will be a silly way to exchange assets.

Also golds value is a construct, it's just a rock lets be realistic.

Well it certainly doesn't have the health benefits of silver. :p

[Jibartik]

https://www.benzinga.com/markets/cryptocurrency/21/10/23471042/crypto-whale-just-moved-117-47m-worth-of-ethereum-eth-off-binance?utm_campaign=partner_feed&utm_source=robinhood.com&utm_medium=partner_feed&utm_content=ticker_page

another 100 mil for one in the club.

I wonder if the entire concpet and like, crypto scam is to open a gatway to basically gofundme for the ultra ritch.

They put in 10 million, then make 10 million people put in 10,000, and then they take out 10 billion.

Like, is it just a big scam? Could be idk.

so did we hit the peak just now? Or are we going to go up another few k? Eth 5k? 6k??

HHHNGHGGGGGGGG

[Castle2.0]

There are crypto scams just like their are stock scams, insurance scams, or (insert any financial asset here) scam.

I guess some financial instruments are engineered to be a scam like 'social security' ;)

[Jibartik]

uh oh!

https://i.imgur.com/x3eDyBM.png

[Castle2.0]

Clearing out those paper hands ;)

[Jibartik]

Still going :(

[Gatordash]

Still going :(

Whats going on? Powell has decided he was wrong on inflation being transitory?

I saw my Intel position is getting hammered today. Fun times.

[Jibartik]

idk I figured it would go down after it hit its high around now, I didnt think i would break 70

after it hits its high (which may not be right now, it could go higher!) it will go down to its next level (high 40s or low 50s?) where it will hang for like 3 months and then do this all over again maybe shooting for whatever round number or like, iconic number it couldnt get to before going down last time.

https://i.imgur.com/DOlVFdz.gif

Doge still has to hit 1$ and it's been idle for a while, that one is going to pop off any day or month now I figure.

They always try to hit these like, random goals, and everyone gets excited and joins in to try to pump it.

(that's when one of the 11 shadow empire kings withdraw 100 mil and it goes down to start again for the next shadow empire king)

Some shadow empire king withdrew 100 mil in ETH yesterday, so that was my sign that this run was over, since this is all a shadow empire satan conspiracy.

[Gatordash]

Oh, according to twitter, Powell announced that he is still going to start tapering QE next month and that we should stop QE completely by June. And now some people are worried interest rates are going to go up in June as well.

I think he's just pissed that he can't insider trade anymore.

[Jibartik]

Lets see if the army can keep it going! they want 75!

https://i.imgur.com/ikem6zD.png

[Castle2.0]

Actually, withdrawing from an exchange is a bullish sign.

When $100M in ETH comes off an exchange, that is $100M ETH unavailable to be bought or sold...

There are blockchain TA guys that follow this kind of thing. It's called the 'LTH Supply Shock Ratio.' A large amount of Bitcoin hasn't moved in over a year. The number of actual coins available is small and so you watch the short-term, are coins going ON or OFF exchanges.

When you see LTHSSR high and coins are coming OFF exchanges, we're in for a supply shock which drives up price.

BTC is so darn transparent, it's actually not so hard to know when to buy/sell. It's just average joe retail investor isn't aware.

[Castle2.0]

Oh, and that LTHSSR is the highest it's ever been.

We're still on track for $100K BTC by EOY. Some think $135K.

Oh, and another chart to watch is MVRV Z-score. See: https://www.lookintobitcoin.com/charts/mvrv-zscore/

Buy green, sell red. Easier than playing EQ, and that's easy.

[Jibartik]

I have a serious wonder.

Usually I am full out after a bull run of all these meme stocks I own but part of me wonders if, these meme stocks are just getting hit with the global PUMP that every company is about to get, while we start the hyperinflation rocket.

Are evaluations of companies just going to double over the next 3-6 months? Is now the time to take the emergency savings and make sure it's in a market that is going to do well during inflation?

Like wtf is tesla valuable at all lol we dont even drive anymore and robot cars are another 10 years away based on their own science?

If I can think of any reason it's because people think they have some sort of plan for the great turning?

Or is just the value of invested dollars doubling in front of our eyes right now?

[Jibartik]

Also this could be the reason stocks that have no real value besides social constructs are doing well: https://apnews.com/article/business-wages-salaries-increase-8ce98ea3bcc14c4810eb5a1111e1df49

[Castle2.0]

S&P had ATH what was it, like 3 times this week?

Denominated in USD, it's w/e. Same with wages.

[Jibartik]

last year if you bought $10,000 worth of BC on this day you would be able to cash out today for around $50,000

Just saying!

[Castle2.0]

COIN -- Aug 2 price -- Today's Price
BTC -- $39,000 --> $61,609.32
ETH -- $2,600 --> $4,370.62
XCH -- $230 --> $136.25
HNT -- $13.11 --> $30.19

let's go!!!

[Jibartik]

FORD -- $15.00 --> $16.37

[Jibartik]

https://i.imgur.com/uD6zA3I.png

https://i.imgur.com/A5TsVVG.png

https://i.imgur.com/pMHy0Tj.png

[Gatordash]

Anyone nervous about the only people buying these global cryptocurrencies is those in the US? Bitcoin and Ethereum are described as a global cryptocurrency where you don't need banks etc., but its not really a currency because no one uses it as such, its more like a digital investment commodity. Problem is for that to be worth anything, everyone has to agree that is it worth something. But the only ones who think it is worth anything are those who live in the US (https://bit-hedge.co/us-bull-run) I assume because we are the only ones buying it. Anyways if global banks start tightening up and raising rates I could see people in the US holding the bag on some of these cryptocurrencies.

[Gustoo]

Anyone nervous about the only people buying these global cryptocurrencies is those in the US? Bitcoin and Ethereum are described as a global cryptocurrency where you don't need banks etc., but its not really a currency because no one uses it as such, its more like a digital investment commodity. Problem is for that to be worth anything, everyone has to agree that is it worth something. But the only ones who think it is worth anything are those who live in the US (https://bit-hedge.co/us-bull-run) I assume because we are the only ones buying it. Anyways if global banks start tightening up and raising rates I could see people in the US holding the bag on some of these cryptocurrencies.

That's exactly how pyramid schemes work - someone is left holding the bag.

You hope it isn't you.

[Jibartik]

but its not really a currency because no one uses it as such,

Not true! Actually the greatest value in crypto is in the humanitarianism it brings, by bringing currencies to countries that have access to the internet via phones, but not via ATM machines.

People in 3rd world countries are using it to buy and sell water and food.

Americans dont use it for anything because we're spoiled bitches with ATMs on every corner so we dont need it.

But the world NEEDS it and uses crypto for all the things you take for granted in developed nations.

THIS is why its value is 60k and the average American fat ass is like "whAt DoEs BiTcOin EvEN Do!? ?!//.1"

[Gustoo]

COIN -- Aug 2 price -- Today's Price
BTC -- $39,000 --> $61,609.32
ETH -- $2,600 --> $4,370.62
XCH -- $230 --> $136.25
HNT -- $13.11 --> $30.19

let's go!!!


ugh the gambling temptation is real

[Gatordash]

Not true! Actually the greatest value in crypto is in the humanitarianism it brings, by bringing currencies to countries that have access to the internet via phones, but not via ATM machines.

People in 3rd world countries are using it to buy and sell water and food.

Americans dont use it for anything because we're spoiled bitches with ATMs on every corner so we dont need it.

But the world NEEDS it and uses crypto for all the things you take for granted in developed nations.

THIS is why its value is 60k and the average American fat ass is like "whAt DoEs BiTcOin EvEN Do!? ?!//.1"

Yeah I get the philosophy behind it but its all potential uses at this point because people aren't actually using to buy food and water in Sudan or wherever. And if they were than how the hell would you price anything with the volatility being all over the place? I mean I bitch about housing prices on here all the time cause they went up 17% or whatever but Castle pointed out that its gone up 200%+ in the last 3 months.

[Smoofers]

Bitcoin will never be anything more than a store of value. Crypto has moved so far past Bitcoin that it's akin to boomer gold now. The real value in crypto lies in the new tech which is to web 3 that TCP/IP was to web 1

[Smoofers]

Hehe, Beavis, this guy doesn't know the value offered by Bitcoin, hehe.

Bitcoin is superior money. Imagine gold, but purely digital and 100% verifiable the circulating amount, and 100% unforgeable, and limited in supply regardless of what the govmint wants to do. 100% permissionless, no one can stop you from sending or receiving money.

If you don't get this, read up on it more. If not, you'll miss it. That's okay. But when you're kicking yourself in 5 years or got your head in the sand still in 10.. you'll remember, Castle told you so <3

"But you can melt it down and make jewelry, man!" Dang, got me there... That's predominantly why average people buy gold in various forms and financial instruments, because they can make gold jewelry with it.

I'm aware of what Bitcoin is but I recommend getting up to speed on the newer tech out there. If you're really looking to make money and actually believe that crypto represents a superior financial instrument, find the newer tech out there that still has a fraction of BTC's current market cap but actually will end up being utilized.

[Gustoo]

Bitcoin is used successfully to pay for things. Dude wants 50,000 dollars for some illegal items, his customer gives him 50,000 dollars of bit coins. Dude sells 50,000 of bitcoins and has clean cash. Mission accomplished.

If it helps, the price of my ammo has almost matched bitcoin in last few years so thats nice. LOL

[Smoofers]

Bitcoin is used successfully to pay for things. Dude wants 50,000 dollars for some illegal items, his customer gives him 50,000 dollars of bit coins. Dude sells 50,000 of bitcoins and has clean cash. Mission accomplished.

If it helps, the price of my ammo has almost matched bitcoin in last few years so thats nice. LOL

Monero is faster than bitcoin and is actually untraceable. The only retards that still use bitcoin to pay for illegal shit end up getting served no-knock warrants

[Jibartik]

Yeah I get the philosophy behind it but its all potential uses at this point because people aren't actually using to buy food and water in Sudan or wherever. And if they were than how the hell would you price anything with the volatility being all over the place? I mean I bitch about housing prices on here all the time cause they went up 17% or whatever but Castle pointed out that its gone up 200%+ in the last 3 months.

https://markets.businessinsider.com/news/currencies/cryptocurrencies-are-taking-the-developing-world-and-nigeria-by-storm-2021-7

Things are different out there then they are here by a long shot, you're not thinking about market volatility when you're spending 10 cents a day.

It's not financially viable for VISA or traditional banking to bring currency and the benefits that provides to these areas for that price point, but it IS financially viable for someone there to setup a bitcoin exchange there without requiring the infrastructure VISA would require to do that.

Now a goatherder, has not only a bank account, but investments and savings.

There are 10s of thousands of stable companies offering these services all over the world, giving BC huge gains each time they open up. And there's room for 10s of millions more!

It's infinitely valuable to the poor and when we realize how much better it is actively making the world its going to hit 100k a coin no problem.

[Gustoo]

National governments wish to own your identity and therefore your financial and banking information and access.

I don't think that these things will be allowed to thrive. Just my guess.

[Jibartik]

National governments wish to own your identity and therefore your financial and banking information and access.

I don't think that these things will be allowed to thrive. Just my guess.

well, dont be too hasty.

The NSA invented SHA256 (the algorithm that allows all this) and nobody knows who satashi nakamorwhatever his name is who invented bitcoin, and because each payment is recorded in a permanent fixed ledger allowing every purchase to be traced, there is a part of me that thinks the government made it so they wouldn't need a bill to see if you had more than 600$ in your bank account.

[Whale biologist]

National governments wish to own your identity and therefore your financial and banking information and access.

I don't think that these things will be allowed to thrive. Just my guess.

That's why I don't like crypto. I don't want zuck to win. :(

The devil you know and all that.

[Jibartik]

I saw this video of an incredible douche bag who gets a few pennies every time you use a VISA to pay a medical bill.

That alone is enough for me to ask if they take bitcoin now.

[Castle2.0]

ugh the gambling temptation is realPick any 4-year period in BTC history. Any day to any 4 years later. Price always go up. Why? Fiat supply always go up. Easy. Will BTC continue to rise in price? What does money supply look like? What is true inflation? Cmon man! BTC is one of the easiest and it is certainly the BEST longterm investment since 2009.

Yeah I get the philosophy behind it but its all potential uses at this point because people aren't actually using to buy food and water in Sudan or wherever. Now do gold or stocks. To be a store of value, it need not be used as a day-to-day medium of exchange for simple goods and services.

People have bought food/water with BTC. Ever heard of the bitcoin pizza? 10,000 BTC for 2 pizzas. We've learned our lesson. It's the OWNERS of Bitcoin who don't want to spend their Bitcoin. Also, fiat is fine for day to day use. I can convert my BTC into USD, and buy whatever need, but keep the majority of my savings/wealth safe in BTC.

VolatileTry this thought experiment.

Imagine: a currency is only as volatile as its supply?

How has the BTC supply grown? It has grown exactly as everyone expected, according to a formula, known by all, changed by none. No politics, no crises, no people driving its supply. The same is known of its total final supply: 21,000,000.

Now let's look at USD. How volatile has the USD fiat supply? Google the chart. Madness.

Is the cost of lumber VOLATILE? No, the amount USD supply is (usually in one direction) so we see insane price increases. Don't blame lumber, blame USD. Same for Bitcoin. But Bitcoin is more finite than lumber.

Bitcoin will never be anything more than a store of value. Crypto has moved so far past Bitcoin that it's akin to boomer gold now. The real value in crypto lies in the new tech which is to web 3 that TCP/IP was to web 1

1) Layer 2 is coming to Bitcoin. It's already here with the lightning network. Google it.
2) "anything more than a store of value." It's like saying fusion will be nothing more than cheap energy... "The real value in crypto."

As an investor/saver you must get this, or you will have your lunch eaten

Bitcoin is money, all other coins are technology with tokens. Money tends towards hegemony and dominance by the best money. Previously this was done via a military. USD is the current fiat hegemon. Bitcoin is the future winner. Holding Bitcoin is storing value in the best way possible for the future.

Technology tends towards competition. LOTS of participants duking it out. As a user of financial services, yes, this is great. Compete for my business. But no way in hell am I trusting my wealth to some tech token, whether it's Ethereum or something else. It would be like holding your wealth in a tech stock. Wayyyyy too risky. Bye MySpace. Bye NetScape. The number of displaced and defeated tech companies is endless.

Store your wealth in Bitcoin, then invest in whatever you think will get you a better return in the short-term with what you are willing to lose

Holding ETH is like holding TSLA or AAPL or w/e. The only crypto I will hold in addition to BTC are cryptos with incredible growth opportunity in the short-term. It's risky investing, but worth it. Ravencoin February halvening will bring home some big bacon. Helium is blowing up and on track for 500k-1M hotspots globally. Chia has long-term potential and an edge with mega players like governments and big banks.

They all have their place, but none are a "store of value."

Bitcoin is the first effective long-term store of value. Every other stock and currency has or will go to 0. Commodities, land, real estate, and gold can be confiscated.

End.

[Castle2.0]

Oh, and Firo is a GPU-mineable privacy coin, superior to Monero. The Monero network is made up mostly of botnets: hacked computers, who when they aren't being used for botnet attacks are having their idle CPU resources used to mine Monero.

If you want to get into CPU mining, go Raptoreum.

If you want to get into privacy coins, go Firo. In the future, if people want to buy/sell in privacy, they will use Firo. Some of this functionality is coming to Bitcoin, but for now, Firo does it best.

[Jibartik]

Or you could just think of it this way right now you’re like man I could’ve bought it for 2500 and it’s 60,000 now!! well I missed the boat…

But in 10 years are going to be like wow I could’ve bought it for 60,000 and it’s worth 500,000 now

:o

[Whale biologist]

Or you could just think of it this way right now you’re like man I could’ve bought it for 2500 and it’s 60,000 now!! well I missed the boat…

But in 10 years are going to be like wow I could’ve bought it for 60,000 and it’s worth 500,000 now

:o

Greater fool theory (https://en.wikipedia.org/wiki/Greater_fool_theory)

[Gatordash]

I saw this video of an incredible douche bag who gets a few pennies every time you use a VISA to pay a medical bill.

That alone is enough for me to ask if they take bitcoin now.

Sometimes insurance companies try to pay with a “digital credit card” too. I refuse it and make them send a check every time out of principal. Even though it takes like an extra couple months to actually get paid.

[Jibartik]

Greater fool theory (https://en.wikipedia.org/wiki/Greater_fool_theory)

I post a lot of bullshit but to not invest in bitcoin I truly believe that you have to truly believe 1 of 2 things:

1. that sha256 will be cracked by quantum computing (super optimistic futurist thinker)
2. that the entire global economy will come to a screeching halt (super doomer thinker)

You have to absolutely believe one of those two things. Like 100% believe one of those two things, or both, but you cant say you dont think at least 1 of those 2 things are going to happen if you think bitcoin will decrease in value over time.

Because if either one of those 2 things dont happen, there will always be a greater fool ready to buy your bitcoin.

[robayon]

You are forgetting the third option

[Whale biologist]

I post a lot of bullshit but to not invest in bitcoin I truly believe that you have to truly believe 1 of 2 things:

1. that sha256 will be cracked by quantum computing (super optimistic futurist thinker)
2. that the entire global economy will come to a screeching halt (super doomer thinker)

You have to absolutely believe one of those two things. Like 100% believe one of those two things, or both, but you cant say you dont think at least 1 of those 2 things are going to happen if you think bitcoin will decrease in value over time.

Because if either one of those 2 things dont happen, there will always be a greater fool ready to buy your bitcoin.

1. that sha256 will be cracked by quantum computing

https://i.imgur.com/7MYUEGq.jpg

[Jibartik]

Good thing we are going to know about that just before it's too late :o

and if it's #2 where that money was invested more securely wont mater either.

So once again, bitcoin remains the safest and most potential gains bet you can make.

[Jibartik]

Investing in bitcoin is like believing in god.

If you're wrong there wont be no libtard there to say so either!

So you can say you were right all the way until the end and either be right or cant be proven wrong.

[Gustoo]

I guess the bad thing I could see happening to bitcoin and all cryptos is all the national governments agree that they are illegal and are only for black market use and any transacting with them is a criminal offense. And immediately shut down the "mining" operations and destroy the value of the companies that legally trade in them because they can't go black market over night.

They'll just say "we want you to choose USD or some other shit money, or go to jail"

They can do it on climate change principles which are part of the united nations. All this computational power doing basically nothing is a waste of resources.

[Castle2.0]

Greater fool theory applies to fool 'assets' like Doge, Shiba Inu, etc.

If you think BTC is a fool asset, you are a fool :0

How long does a bubble take to pop?

[Whale biologist]

I guess the bad thing I could see happening to bitcoin and all cryptos is all the national governments agree that they are illegal and are only for black market use and any transacting with them is a criminal offense. And immediately shut down the "mining" operations and destroy the value of the companies that legally trade in them because they can't go black market over night.

They'll just say "we want you to choose USD or some other shit money, or go to jail"

They can do it on climate change principles which are part of the united nations. All this computational power doing basically nothing is a waste of resources.

the mining also runs the transactions i think so it would be ded anyway

[Castle2.0]

Western society currently still has good free speech laws. Fed Chair recently said they won't ban BTC.

Also, smart politicians are starting to own BTC, which is really good for BTC holders haha. Politicians always make rules to protect themselves.

They will most likely try to ban Firo or other privacy coins.. but it's like banning torrenting. Yes, it'll be illegal, but you'll have widespread personal usage.

Even if they ban BTC, like they banned gold, you can't confiscate it.

2^256 # of possible private keys.... impossible to brute force.

If it does get banned for X years, those who hold will have incredible wealth when unbanned after X years. Imagine.

[Castle2.0]

All this computational power doing basically nothing is a waste of resources. How much do we spend on banks, payment networks, wall street, etc?

I want energy/power protecting my money. The last thing I want is some proof-of-stake scheme, which is exactly what we have today. Those with stake make the rules.

the mining also runs the transactions i think so it would be ded anyway China bans mining. Mining hardware sold/shipped out to other countries including US.

There will always be a financial incentive to allow mining, even if it's taxed or regulated. It's why we have tax shelters and money-for-citizenship schemes. Unless you get the entire world in bed. and with the financial incentive.. fat chance.

[Whale biologist]

Western society currently still has good free speech laws. Fed Chair recently said they won't ban BTC.

Also, smart politicians are starting to own BTC, which is really good for BTC holders haha. Politicians always make rules to protect themselves.

They will most likely try to ban Firo or other privacy coins.. but it's like banning torrenting. Yes, it'll be illegal, but you'll have widespread personal usage.

Even if they ban BTC, like they banned gold, you can't confiscate it.

2^256 # of possible private keys.... impossible to brute force.

If it does get banned for X years, those who hold will have incredible wealth when unbanned after X years. Imagine.

They don't have to confiscate it if it's worthless cuz you can't convert it to cash without being arrested.

Namaste.

[Castle2.0]

Quantum computing is a bogeyman. It's as real as a quantum resistant algorithm. We'll get both, don't worry.

There's brighter people working on this. If "SHA-256 will be broken by quantum computing" is your excuse not to hold bitcoin, you deserve your future poverty.

[Jibartik]

I guess the bad thing I could see happening to bitcoin and all cryptos is all the national governments agree that they are illegal and are only for black market use and any transacting with them is a criminal offense. And immediately shut down the "mining" operations and destroy the value of the companies that legally trade in them because they can't go black market over night.

They'll just say "we want you to choose USD or some other shit money, or go to jail"

They can do it on climate change principles which are part of the united nations. All this computational power doing basically nothing is a waste of resources.

option 2 :o

No I get that, that was/is a concern but at this rate it's too big and you have matt damon on crypto.com (https://crypto.com/) so the activism is going to go the way of crypto I think.

It cracks me up that prices like 37 were way "to high" for me just about a year ago

[Whale biologist]

Quantum computing is a bogeyman. It's as real as a quantum resistant algorithm. We'll get both, don't worry.

There's brighter people working on this. If "SHA-256 will be broken by quantum computing" is your excuse not to hold bitcoin, you deserve your future poverty.

Really? It seems like I know more than you do. :p

You're rude!

[Castle2.0]

You got it backwards. No one with BTC will want to trade for your worthless fiat, regardless of whether it is banned or not.

If you think people with BTC will want to trade for the fiat of some broke-like-a-joke totalitarian regime, you're a fool.

No one with BTC is trading for the NK Won, lol

In the Weimar Republic, no one with Francs or gold or art wanted Papiermark.

You may or may not know more stuff than I, but wisdom is the application of knowledge, and you have shown yourself thus far to either ignorant (lacking knowledge) or foolish (unable to properly apply knowledge) in this matter.

Now tell me more about this "quantum computer than can break SHA-256" =)

[Whale biologist]

Tell me more about this "quantum resistant algorithm",,,

Whatever the hell that is aside, quantum would definitionally be able to break sha-256 encryption

[Jibartik]

quantum computing is what the transistor computer was to paper.

Basically we're going to go from pigons and telegraphs to the internet, but from the internet to ::::::::?

It's quite literally the most exciting thing happening on earth and to be honest I am under describing the gigantic leap forward it will bring to humanity, we're talking the end of silicon valley level computing.

Dont believe hype about QC and BC being some political side you have to be on, if you believe in BC tech then you should def believe in QC because they're both as cutting edge, but one just happens to use a practice that all laws of physics that we follow seems to imply is not real, but it is.

This is like the Manhattan project during world war 2 and when it goes boom we're going to see some serious shit.

Math is meant to be solved. Sha will be solved that's inevitable IMO and there will be a crypto that replaces bitcoin because of it, because the "concept" behind bitcoin is invaluable.

Bitcoin doesn't have to be the one people use to transfer wealth from Kalaxian-9

But dont worry castle we have a long while to go, or you know you could wake up tomorrow and suddenly someone just withdraws all of satowishi's coins, and a lot of other peoples.

or maybe they would just take bits of coins over time and become a billionare without anyone noticing...

Either way, someone's going to crack it someday!

[Castle2.0]

Tell me more about this "quantum resistant algorithm",,, I am glad you asked. You asked twice, so you must be serious. I deal with the serious, not the curious.

"Quantum Computing Will Ruin Cryptography and Privacy"

Is a click-bait, made for general population plebs, news article title. That caught your eye on CNN or Fox. It's okay. Now, your lesson.

What you might not know is there is an ENTIRE discipline of "post-quantum" and "quantum resistant" cryptographic research.

Let me google it for you.

https://en.wikipedia.org/wiki/Post-quantum_cryptography

In contrast to the threat quantum computing poses to current public-key algorithms, most current symmetric cryptographic algorithms and hash functions are considered to be relatively secure against attacks by quantum computers.

Sources:

Daniel J. Bernstein (2009). "Introduction to post-quantum cryptography" (PDF). Post-Quantum Cryptography. (link: http://www.pqcrypto.org/www.springer.com/cda/content/document/cda_downloaddocument/9783540887010-c1.pdf)
Daniel J. Bernstein (2009-05-17). "Cost analysis of hash collisions: Will quantum computers make SHARCS obsolete?" (link: http://cr.yp.to/hash/collisioncost-20090823.pdf)


If you won't read Bernstein's Paper he summarizes it quite nicely in his slides when he talks on it:

All known quantum algorithms are fundamentally slower than traditional collision circuits, despite optimistic assumptions re quantum-computer speed.

By the time quantum computing seriously being a threat is within even 10 years of possibility, you'll see bitcoin go to a "post-quantum" algo.

But let's mark this November 2021, so I can come back in 2024 to say I told you so. Quantum still decades away. Bitcoin is $500k+

[Whale biologist]

I am glad you asked. You asked twice, so you must be serious. I deal with the serious, not the curious.

"Quantum Computing Will Ruin Cryptography and Privacy"

Is a click-bait, made for general population plebs, news article title. That caught your eye on CNN or Fox. It's okay. Now, your lesson.

What you might not know is there is an ENTIRE discipline of "post-quantum" and "quantum resistant" cryptographic research.

Let me google it for you.

https://en.wikipedia.org/wiki/Post-quantum_cryptography



Sources:

Daniel J. Bernstein (2009). "Introduction to post-quantum cryptography" (PDF). Post-Quantum Cryptography. (link: http://www.pqcrypto.org/www.springer.com/cda/content/document/cda_downloaddocument/9783540887010-c1.pdf)
Daniel J. Bernstein (2009-05-17). "Cost analysis of hash collisions: Will quantum computers make SHARCS obsolete?" (link: http://cr.yp.to/hash/collisioncost-20090823.pdf)


If you won't read Bernstein's Paper he summarizes it quite nicely in his slides when he talks on it:



By the time quantum computing seriously being a threat is within even 10 years of possibility, you'll see bitcoin go to a "post-quantum" algo.

But let's mark this November 2021, so I can come back in 2024 to say I told you so. Quantum still decades away. Bitcoin is $500k+

As of 2021, this is not true for the most popular public-key algorithms, which can be efficiently broken by a sufficiently strong quantum computer.

https://i.imgur.com/pmjrB1a.jpg

[Jibartik]

investing in crypto is tantamount to being a rick & morty fan.

what he is saying is that as quantum computing grows so will bitcoins encryption algorithms, which I believe. but I think anyone who says that is true as a matter of fact is as credible as the guy who says bitcoin will destroy the environment.

Nobody knows if bitcoin go down it probably go up again just deal with it is my motto. But I suggest getting in peace by peace now because like I said 60k is still low considering 27k I thought was 60k 1 year ago its gonna be either at or over 100 next year castle will bring it up for sure

or jesus will be around the corner and it will be a little more obvious which do you think?

https://i.imgur.com/MtaB7dG.png

[Whale biologist]

investing in crypto is tantamount to being a rick & morty fan.

what he is saying is that as quantum computing grows so will bitcoins encryption algorithms, which I believe. but I think anyone who says that is true as a matter of fact is as credible as the guy who says bitcoin will destroy the environment.

Nobody knows if bitcoin go down it probably go up again just deal with it is my motto. But I suggest getting in peace by peace now because like I said 60k is still low considering 27k I thought was 60k 1 year ago its gonna be either at or over 100 next year castle will bring it up for sure

or jesus will be around the corner and it will be a little more obvious which do you think?

https://i.imgur.com/MtaB7dG.png

it occurred to me that they wouldn't release the quantum if they had it, because it would be a serious advantage over their subjects.

spooky! 🇺🇲

[Whale biologist]

Looking forward to the death of encryption thanks to you dorks turning it into pizzas 💰🍕

Death by a thousand bytes

[Jibartik]

it occurred to me that they wouldn't release the quantum if they had it, because it would be a serious advantage over their subjects.

spooky! ����

yeah although as soon as someone figures out quantum computing suddenly either

a.

https://i.imgur.com/xViSXNJ.png

b.

https://i.imgur.com/syH4yWD.png

or

c.

https://i.imgur.com/fSFQkhG.gif

will happen

[Jibartik]

quantum computing meets gpt AI lmao

wtf do we think our bitcoin is going to do to out encrypt our money from terminators may as well invest though until then for these sweet pyramid scheme gains!

[Castle2.0]

As of 2021, this is not true for the most popular public-key algorithms, which can be efficiently broken by a sufficiently strong quantum computer. Maybe you missed the point. If quantum computing may become a threat to bitcoin, they will change from ECDSA to a post-quantum way of doing keys.

Will quantum computing decades from now be able to crack ECDSA, which is already decades old today? Probably.

Will the computer savvy folks working on the tech of a 1+ trillion dollar market cap asset forget to switch to a "post-quantum" algo for keys, which already exists? No.

Checkmate. And thanks for playing.

[Jibartik]

also the dividends are shipments mcdonalds diping sauce

[Whale biologist]

Maybe you missed the point. If quantum computing may become a threat to bitcoin, they will change from ECDSA to a post-quantum way of doing keys.

Will quantum computing decades from now be able to crack ECDSA, which is already decades old today? Probably.

Will the computer savvy folks working on the tech of a 1+ trillion dollar market cap asset forget to switch to a "post-quantum" algo for keys, which already exists? No.

Checkmate. And thanks for playing.

Like I said, there's no such thing as quantum-resistant math.

Deeply ironic meme bud. 😬

[Castle2.0]

You don't need new math. You uncurious, unread, ignoramus.

https://en.wikipedia.org/wiki/Post-quantum_cryptography


...While the quantum Grover's algorithm does speed up attacks against symmetric ciphers, doubling the key size can effectively block these attacks. Thus post-quantum symmetric cryptography does not need to differ significantly from current symmetric cryptography....

Open Quantum Safe (OQS) project was started in late 2016 and has the goal of developing and prototyping quantum-resistant cryptography. It aims to integrate current post-quantum schemes in one library: liboqs

Quantum computing is a bogeyman, like most things people don't understand. MSM needs clicks and quantum computing ticks 3 boxes: future, technology, and 'bad.'

[Jibartik]

quantum computing is not the bogeyman lol

only idiots who spam about crypto say that because at the moment it is one of the many rational concerns about the system

jesus christ you are showing masive weakness saying something as stupid as quantum computing is a bogeyman lol

holy shit you sound like a librarian in the 1960s

The dumbest thing. The absolute DUMBEST thing someone has said on these forums is that quantum computing is a "bogeyman"

the only people that have ever said that are STONKS subscribers lol stupid kids! all those wikipedia pages you link are written by 20 year old horza's who pationalty care about crypto the way he does liberal politics.

If you believe it by all means

but jesus christ dont fall for the trap that quantum computing is the enemy of crypto and you need to pick a political side on science oh my god what a stupid idiot person youd have to be to have faith in crypto but not quantum computing

quantum computing is PHYSICS

bitcoin is an algorithm you incredible idiot oh my god I cant believe I had to read that

[bomaroast]

The e-coins are the icing on the cake that is man's inaction against the climate disaster. Proof of how doomed we are.

https://i.imgur.com/xm6RwvK.jpg

[Gustoo]

I kind of agree with bomaroast for ethical reasons to not support e-coin insanity.

Hard to get on board with something that smells like dumping toxic sludge in a river without even producing any physical objects.

[Jibartik]

I kind of agree with bomaroast for ethical reasons to not support e-coin insanity.

the go to response is that the infrastructure for VISA and traditional banking is worse for the environment overall than e-coin, and if we all used our phones as wallets instead of wallets the waste would go down.

But I fail to believe that the infrastructure that people build around e-coins wouldnt be just as taxing on the environment as traditional banking (because people are retarded) so overall it's not a net gain on carbon reduction.

It's tough to say who's right because the people who are on the side of progress are afraid to talk about stuff like this because they want to stop being poor and get rich quick off BC like the people that FOMO'd them into getting into it after 10 years of being afraid to.

[bomaroast]

It's tough to say who's right

Wrong. It's very easy to see who is right. Traditional banking can be conducted and was conducted for hundreds of years without any electricity or computer hardware. Traditional banking can perform transactions without having to decode/re-encode all past transactions. There is not waste built into the system as a matter of course.

All for the sake of being "free" from traditional forms of money and control. Nevermind that the e-coins are all completely dependent on electricity, computer hardware manufacturers, and the internet infrastructure.

[Castle2.0]

Let me make it real simple for people.

(Simplified) Work Equation
Work = force x distance

You apply a force to something and move it X distance. That is work.

And work takes energy.

The Work/Energy Equation
Work done by the net force = final kinetic energy - starting kinetic energy

Your work is moving a rock from point A to point B, either literally or figuratively. You spend energy to create/do something of value. You are rewarded with something of value in return.

You work for money.


Money = representation of spent human energy


Think of all the work you do in 1 year.

Think of all the money you make in 1 year.

Imagine, the work you do in 2021, loses 2-5% of it's value every year for the rest of time

This is called 'inflation.'

Imagine, 8,000,000,000 people all losing at least 2-5% of the value of their spent energy year-on-year for the rest of time.

The totality of your spent work energy IS your wealth. You choose how to store it.

Bitcoin doesn't use too much energy. This is the first time in human history your work value can be stored in a unit that is invulnerable to exploitation.

Re-read that. That is the value of Bitcoin.

Also, Bitcoin is a huge driver of alternative energy. Try google sometime before opining in ignorance.

[Gustoo]

Bomaroast has a pretty good response there.

Except we're talking about present day and whether present day banking structure is more or less efficient than bitcoin banking structure is probably a matter of some useful discussion.

It's true we don't talk about how expensive banks are and how much they consume.

But then again we could eliminate like 1 million useless tax jobs if we just taxed 30% of all income across the board and have more tax revenue too..but we don't do that. We have the IRS and a hundreds of thousands of accountants just so the government can offer tax incentives to control what we all do.

I just heard someone say "Oh I hope my baby comes before the end of the new year so I can get the write off" that kind of incentive/control is the goal of government tax policy and its fucked.

[Jibartik]

Wrong. It's very easy to see who is right. Traditional banking can be conducted and was conducted for hundreds of years without any electricity or computer hardware. Traditional banking can perform transactions without having to decode/re-encode all past transactions. There is not waste built into the system as a matter of course.

All for the sake of being "free" from traditional forms of money and control. Nevermind that the e-coins are all completely dependent on electricity, computer hardware manufacturers, and the internet infrastructure.

All that paper, all the buildings that house the employee's to maintain those ledgers, all the manufacturing of the currency and safe places to store it, and shipping of assets around the world to maintain all this has a huge footprint.

Your phone's camera using the internet to do all of that digitally is a huge reduction in environmental impacts.

If it wasn't for the internet already being there, and phones already existing, building the infrastructure to do that would be as costly, but since all that is there already, it's free.

The ecoin economy works without employee's without headquarters etc.

The reason I say it's hard to say who is right, because my argument is, even with ecoins humans would just build the same wasteful system out of it anyway because we're retarded.

[Castle2.0]

Also, clothes dryers in the US alone use more energy than bitcoin.

Convenience of drying your clothes for Americans > preserving the wealth of all people from all nations from debasement and confiscation


People suck at grokking big numbers and statistics - thus they overestimate the electrical cost of bitcoin
People don't yet understand the value of bitcoin to protect against debasement and confiscation -- thus they underestimate the value of bitcoin


Also, people don't know how Bitcoin is driving alternative energy.

All good, mates. Let's talk in 2024. It'll be a YUGE I told you so moment.

[bomaroast]

Also, Bitcoin is a huge driver of alternative energy.

Right. Because spinning up a gas burning generator or purchasing chinese-produced solar panels to power a mining setup is 'renewable.'

[Castle2.0]

The biggest cost of the current monetary system is the cost of inflation.

You earn X in 2021. It's worth 40% less in 10 years.

3% year-on-year, and that is very conservative estimate of inflation, it's likely more like 5%+

[Castle2.0]

Right. Because spinning up a gas burning generator to power a mining setup is 'renewable.'

You're right, all the big players have on-site gas burning generators. You are very well-read and obviously have a great read on the industry...;)

Learn to read: https://assets.ctfassets.net/2d5q1td6cyxq/5mRjc9X5LTXFFihIlTt7QK/e7bcba47217b60423a01a357e036105e/BCEI_White_Paper.pdf

[Jibartik]

hey folks just put castle on ignore and read my posts, theyre intelligent versions of the point's he's heard youtubers reeeeeee about.

he is right you idiot china was dumping huge amounts of coal into BC last year god youre the reason people dont like rick and morty and are still afraid to invest in BC.

Like horza is the reason I am voting for trump in 2024.

[bomaroast]

Let's talk in 2027. By then the climate disaster will be undeniable and the first-world will have followed China's lead in banning the ecoins.

[Jibartik]

All the ways bitcoin can be better for the environment, fiat currency could as well to be fair.

The reason VISA has such gnarly footprint is because it's existed through the invention phase of this 2nd instustrial revolution that is over.

BC was invented after the 2nd industrial revolution, so naturally it can get to "visa's" level without as much of a footprint.

But using the same theory traditional banking could get to bitconis potential decreased footprint just as easily.

Which is why it's arguable, because like bitcoin or crypto itself doesn't necessarily mean like, no carbon footprint.

There is so much more to it than like, "bitcoin is a magic cure all for all our problems!" or "it's worse for the environment than traditional banking!"

But I do think you're making a huge mistake by not putting 10% of your savings into it. Just setup a coinbase or robinhood account and drop some dollars into it every once and a while and you'll see!

[Smoofers]

Quantum computing is only a threat to old school proof of work consensus algorithms

e.g. boomer bitcoin

[Jibartik]

Probably the only intrinsic value humanity has right now is quantum computing.

[Castle2.0]

Quantum computing is only a threat to old school proof of work consensus algorithms

e.g. boomer bitcoin

Tis not a threat. Read above.

Proof-of-stake is status quo but on blockchain.

(1) Rich get richer
(2) Rich decide the rules for everyone else

Sounds great.

Use google, there are plenty of problems with proof-of-stake. I didn't cover the technical problems here.

[Gustoo]

Castle how many manastones did you get on green by camping it yourself? (not ones you acquired through trades etc)

[Castle2.0]

Castle how many manastones did you get on green by camping it yourself? (not ones you acquired through trades etc)

Secret. HODLing til 2024. Market gonna be real hot then :D

[Castle2.0]

.

[Whale biologist]

Quantum computing is only a threat to old school proof of work consensus algorithms

e.g. boomer bitcoin

Doesn't doubling the digits make Bitcoin slow and unusable? :p

[Castle2.0]

Doesn't doubling the digits make Bitcoin slow and unusable? :p

You need to learn how one way cryptographic functions work. 'Easy' one way. 'Hard' the other way. Another free lesson for you. You're lucky I'm not charging for all this great info =)

[Whale biologist]

You need to learn how one way cryptographic functions work. 'Easy' one way. 'Hard' the other way. Another free lesson for you. You're lucky I'm not charging for all this great info =)

You didn't answer my question, false braggart.

[Castle2.0]

I answered the main question you were pushing for multiple posts "D0EsnT Quantumz ComP00ting break da btcz?!" Question fully answered. I stopped registering your silly declaratives as questions and am allowing you to wallow in your own ignorance; a gift to us both.

[Whale biologist]

I answered the main question you were pushing for multiple posts "D0EsnT Quantumz ComP00ting break da btcz?!" Question fully answered. I stopped registering your silly declaratives as questions and am allowing you to wallow in your own ignorance; a gift to us both.

So doubling the digits wouldn't make bitcoin slow and unusable?

[Castle2.0]

Care to clarify your question?

[Jibartik]

So doubling the digits wouldn't make bitcoin slow and unusable?

I strongly believe anyone who thinks they can predict how 20 year old algorithm will function in our economy 20 years from now shows weakness.

Like that's an instant unsub from me for any of these "I am not a financial advisors" that link every single study that they use to justify their positions.

There is no reason anyone should be afraid or, not already be planning to migrate their BC to a new platform at the drop of a hat because this is all undiscovered country and nobody really knows where it's headed.

[Whale biologist]

Care to clarify your question?

Well how long does it take now?

[Castle2.0]

https://youtu.be/ZG_k5CSYKhg?t=159

[Jibartik]

The sad truth is castle is going to put some kind of 150k bitcion link in his sig eventually so make sure you invest more than him if you dont like him.

[Whale biologist]

Well how long does it take now?

[Jibartik]

This is what bitcoin investing is like https://www.reddit.com/r/nextfuckinglevel/comments/qmxc0f/traditional_japanese_archer_hits_target_in/?utm_source=share&utm_medium=web2x&context=3

only you have autism.

[Castle2.0]

Doesn't ask a clear question... repeats unclear question when asked to clarify. lol.

What is it?

[Whale biologist]

Doesn't ask a clear question... repeats unclear question when asked to clarify. lol.

What is it?

Okay I'll dumb it down for you - how long does it take to confirm a transaction in the blockchain? You can just give me an average since you're being so cagey about it.

[Castle2.0]

Leaving out important context means you are unclear, not that others are dumb because they can't read your mind.

Bitcoin = 10 minute block time.

Lightning network (layer 2 on top of bitcoin) = instant.

With lightning, we already have instant BTC payments.

Next.

[Whale biologist]

Leaving out important context means you are unclear, not that others are dumb because they can't read your mind.

Bitcoin = 10 minute block time.

Lightning network (layer 2 on top of bitcoin) = instant.

With lightning, we already have instant BTC payments.

Next.

Right! You had to invent a whole separate infrastructure because blockchain is so garbage.

Thanks I had fun.

[Castle2.0]

LOLOL, I could see your pathetic attempt at a dunk from a mile away.

Don't worry my dude, we WILL get you in the next compilation: https://www.youtube.com/watch?v=oAvbZOK4NKo

Now... why you're an I-D-I-O-T:

"Gold is so garbage"

Gold is a $10T marketcap asset.

No one does any kind of day-to-day commercial purchases with gold.

Gold is heavy and can be easily confiscated.

Gold cannot be sent or stored in large quantities safely without spend a lot of money on security.

Bitcoin is superior gold. You can send $10,000,000,000 BTC around the world quickly or instantly at near-zero cost.

BTC is $1T marketcap. It will displace gold. At $10T marketcap, BTC will be around $500k/BTC.

BTC's primary purpose is a store of value. This makes it incredibly valuable. You skip over this then attempt to 'dunk' with your wrong perception based on old information that you cannot transact quickly or easily in BTC...

"You had to build additional infrastructure on highways to make them better/faster?! Man, highways are so garbage."

Do you hear how stupid you sound?

If you want to drive only backroads on your horse n buggy, be my guest. You'll use BTC in the future, even if you never buy it. It will be built into the financial system to facilitate a lot of financial services. Blockchains will interoperate and people will be able to freely exchange instantly between assets.

Already happening via DeFi apps like Uniswap.

Here's a video of what's been happening in this thread: https://www.youtube.com/watch?v=5W-ZIXmCV64

Psssst, you are the kid.

Thanks, I had fun blocking all your sad shots and dunk attempts :D:D:D

P.S. Central databases aren't censorship resistant like blockchains, so Visa, MySQL, WordPress, this forum, etc, are all hot garbage, right? :D

[bomaroast]

Right, the currency of the future, and the largest industrial power in the world has banned it.

The icing on the cake.

[Castle2.0]

Right, the currency of the future, and the largest industrial power in the world has banned it.

The icing on the cake.

Bitcoin, Facebook, Twitter, YouTube, Google, Instagram, WhatsApp, Reddit, Spotify, Quora, LinkedIn, Dropbox, Soundcloud, Telegram, Big Bang Theory, Gaming Consoles, Animal Farm, private educational/tutoring companies, yellow umbrellas, ghosts/supernatural TV/books, jasmine flowers, and freaking Winnie the Pooh... What do all these nefarious things have in common?

Banned in China and due to this has fallen off the face off the earth, plummeted in value, and is used by no one and remembered by no one... Oh wait.. what's this... Thriving?

Dictatorship 'bans' item that gives greater personal freedom and control over one's financial future.

Sounds about right.

Too EZ https://www.youtube.com/watch?v=-BiLCJxpqi4

[Patriam1066]

Serious question, why would Bitcoin have primacy over something like ethereum or even polkadot or XRP? Isnt Bitcoin very bad in terms of energy consumption per transaction / mining?

I don’t believe in crypto at all, but I’m honestly just asking why Bitcoin would be the one you’d bet on in the future of ethereum especially

[Jibartik]

https://youtu.be/oHU006rCb2c?t=2348

time code set to a fun watch.

[Castle2.0]

Serious question, why would Bitcoin have primacy over something like ethereum or even polkadot or XRP? Isnt Bitcoin very bad in terms of energy consumption per transaction / mining?

I don’t believe in crypto at all, but I’m honestly just asking why Bitcoin would be the one you’d bet on in the future of ethereum especially

Two questions for you:

(1) What is going to be the total supply of ETH?
(2) Who gets to decide what transactions are added to each block of ETH?

Once you understand the answers to these two questions, you'll understand why BTC wins.

[Jibartik]

I predict bitcoin will be 27 in 2 years for a year or 3 then it will go back to 150+ after the global wars/recession is over but we'll see!

[Smoofers]

Leaving out important context means you are unclear, not that others are dumb because they can't read your mind.

Bitcoin = 10 minute block time.

Lightning network (layer 2 on top of bitcoin) = instant.

With lightning, we already have instant BTC payments.

Next.

Company 1: "Hey guys, here's a really slow modem that you can make faster by purchasing another add-on which of course means there's another point of failure"

Company 2: "Hey guys, here's a really fast modem that works out of the box"

Tough decision

[Gustoo]

No coin without a hard cap on set total quantity will ever be goodcoin.

Thats for sure.

[Gatordash]

LOLOL, I could see your pathetic attempt at a dunk from a mile away.

Don't worry my dude, we WILL get you in the next compilation: https://www.youtube.com/watch?v=oAvbZOK4NKo

Now... why you're an I-D-I-O-T:

"Gold is so garbage"

Gold is a $10T marketcap asset.

No one does any kind of day-to-day commercial purchases with gold.

Gold is heavy and can be easily confiscated.

Gold cannot be sent or stored in large quantities safely without spend a lot of money on security.

Bitcoin is superior gold. You can send $10,000,000,000 BTC around the world quickly or instantly at near-zero cost.

BTC is $1T marketcap. It will displace gold. At $10T marketcap, BTC will be around $500k/BTC.

BTC's primary purpose is a store of value. This makes it incredibly valuable. You skip over this then attempt to 'dunk' with your wrong perception based on old information that you cannot transact quickly or easily in BTC...

"You had to build additional infrastructure on highways to make them better/faster?! Man, highways are so garbage."

Do you hear how stupid you sound?

If you want to drive only backroads on your horse n buggy, be my guest. You'll use BTC in the future, even if you never buy it. It will be built into the financial system to facilitate a lot of financial services. Blockchains will interoperate and people will be able to freely exchange instantly between assets.

Already happening via DeFi apps like Uniswap.

Here's a video of what's been happening in this thread: https://www.youtube.com/watch?v=5W-ZIXmCV64

Psssst, you are the kid.

Thanks, I had fun blocking all your sad shots and dunk attempts :D:D:D

P.S. Central databases aren't censorship resistant like blockchains, so Visa, MySQL, WordPress, this forum, etc, are all hot garbage, right? :D

Gold exists.
Bitcoin is only a thing if everyone believes in it.

[Castle2.0]

Gold exists.
Bitcoin is only a thing if everyone believes in it.
Gold exists.
USD is only a thing if everyone believes in it.

P.S. Not everyone believes in Bitcoin, but it's a thing. Similarly, not everyone believes in AAPL, TSLA, or USD.

People believe in USD because the US military and US historic economic dominance.

People believe in BTC because math. Cryptographically provable immutability, scarcity and ownership.


My bookstore exists.
Amazon is only a thing if everyone believes in it.


Imagine having the opportunity to own an 'internet coin' or a 'phone coin' where you had some ownership of the future layer of massive societal interaction.

You do. You can think of it as 'currency coin' or 'value coin' or 'finance coin.' It's called bitcoin.


Company 1: "Hey guys, here's a really slow modem that you can make faster by purchasing another add-on which of course means there's another point of failure"

Company 2: "Hey guys, here's a really fast modem that works out of the box"

Tough decision

Speed = wealth

Company 1: "Our modem makes your internet speed faster year-on-year."
Company 2: "Our modem makes your internet speed slower year-on-year. We target 2%, but sometimes it's 5% or more slower than the previous year."

Tough decision. Doesn't matter though, "this internet thing is a big sham." "It will be banned in every first world country." "It's too slow." "There is no content." "TV is more interesting." "Only nerds use it."

History doesn't repeat, but it sure does rhyme.

Shocking how blind people are.


Try sending $1B in fiat currency. Think you can do it in 10 minutes? Hahaha, welcome to the modern banking system -- oh, and we're not open on weekends, lol.
How often does a billionaire want to wire millions of dollars? When they do, do they need it to be done faster than 10 minutes?
Hold your wealth in bitcoin, convert into USD every week or month for your daily spending money. Is this so hard to understand?


I've lived many years abroad. Anyone with any kind of wealth in their home country will keep the majority of their wealth there and pull out what they need in the foreign country they live in. This isn't a new concept.

I'd rather hold USD than Brazilian real or RMB, but I'll convert some if I need the cash while living abroad.

No coin without a hard cap on set total quantity will ever be goodcoin.

Thats for sure. Facts. Ethereum and many other coins are just that. Ethereum is interesting and they brought in some great tech the rest of the blockchain world is starting to use, but it sucks as a currency or store of value. No supply limit and moving to proof-of-stake. It'll be status quo monetary policy but on the blockchain.

[Jibartik]

Imagine how rich and how many pixels you could have at the same time.

https://i.imgur.com/13PNBIT.png

[Jibartik]

What companies and ETF's did Nancy Pelosi's husband invest in today?

Probably smart to match them.

[Castle2.0]

Haters got silenced

[bubur]

Haters got silenced

i want bitcoin to succeed. in fact can u hurry it up

all the money i put into every crypto except bitcoin is waiting for you boomers

[Castle2.0]

HNT broke $50. Chillin low 40's now.

Remember when I told you to buy on August 2, 2021 when it was $13 -- first post in this thread?

#NotFinancialAdvice

[Octopath]

Any new pickups? Too late to buy HNT etc from your OP? I want to get into some stuff

[Jibartik]

Any new pickups? Too late to buy HNT etc from your OP? I want to get into some stuff

https://www.dextools.io/app/bsc/pair-explorer/0x24a3a014ddcaee40458b5d6335e3f9547e9104dc

edit: do not buy lord edge coin

[Castle2.0]

Safest bet is buy BTC, write down your seed phrase or private key on 2-3 separate pieces of paper, laminate, store in different physical locations, or if at home at least store in a fire-proof safe, and don't look at it and try not to think about it until 2024.

This is not financial advice. But if I ever were to give financial advice, this would be the most sound, most fool-proof.

I think all the coins I listed have a great future, but how much will they go up and by when? Who knows. Look at fundamentals. What problem are they actually solving? How do they provide value? Who is behind it? etc.

FLUX was one I was looking at since $0.30. Decentralized internet. Very cool idea. Now $1.50 or so, kinda missed that boat... but is there another boat at the dock to go from $1.50 to $15? Very possible if ICP's price can tell us anything (tried doing the same thing, falling though as FLUX rises.)

BTC dominance is real. If BTC goes to $100k, HNT likely to $100, and likely to see 8K+ ETH too. Personally, I don't like ETH as a project, but it's profitable to mine. XCH is very much a long-term play. They are about to announce a HUGE announcement. They will be the blockchain the World Bank runs their World Bank Group Climate Warehouse on... so... that'll be yuge.

See https://www.worldbank.org/en/news/video/2019/12/02/the-world-bank-group-climate-warehouse for explanation of what it is

Bull run likely to last til Jan/Feb of 2022.

As always, I am just one hypomanic, aut-weaponized misunderstand memester who roleplays an obnoxious neckbeard to act out a message few seem to be picking up, so uh...DYOR - do your own research.

[Botten]

99% of crypto is probably going away.

Holding a security instead of a currency speaks volumes to what is planned next.

The infrastructure bill the house just passed with rules and regulations for cryptocurrency reporting is a game changer.
They are classifying digital assets as securities.

Brad Garlinghouse gave some warnings himself which were largely ignored.

There are people sitting at the table with the government, regulators, the biggest banks in finanical institutions.

These Lobbiest are already interfering and will continue to interfere.
See plans Even worse planned effective changes on Crypto Trades in 2023, Tax Filings in 2024*

Cash out and stay out else regret it. Before the Rush and your the one left with the empty bag.

Cryptocurrency exchanges have not previously been required to provide reports to their customers (like traditional brokers do), many taxpayers unknowingly failed to report their capital gains from cryptocurrencies, thus cheating the U.S. government out of tax income.*

Get out. There is no safety net on this Janga block chain tower that is about to fall.

https://www.voltequity.com/post/new-crypto-tax-reporting-requirements-in-the-2021-infrastructure-bill

[Jibartik]

SOl went up like 200$ this week

Matic did as well

I have chainlink and im hoping it goes up a few hundred from where its at

all of this opinion will probubly change in a week but ive had it for a few weeks and wish I had it for the last 6 mo

I almost bought pokadot at like 1 dollar but I chickened out!!

This guy has never steared me wrong but that's just blind luck I think...

Vw78DBXPFKc

[Smoofers]

99% of crypto is probably going away.

Holding a security instead of a currency speaks volumes to what is planned next.

The infrastructure bill the house just passed with rules and regulations for cryptocurrency reporting is a game changer.
They are classifying digital assets as securities.

Brad Garlinghouse gave some warnings himself which were largely ignored.

There are people sitting at the table with the government, regulators, the biggest banks in finanical institutions.

These Lobbiest are already interfering and will continue to interfere.
See plans Even worse planned effective changes on Crypto Trades in 2023, Tax Filings in 2024*

Cash out and stay out else regret it. Before the Rush and your the one left with the empty bag.

Cryptocurrency exchanges have not previously been required to provide reports to their customers (like traditional brokers do), many taxpayers unknowingly failed to report their capital gains from cryptocurrencies, thus cheating the U.S. government out of tax income.*

Get out. There is no safety net on this Janga block chain tower that is about to fall.

https://www.voltequity.com/post/new-crypto-tax-reporting-requirements-in-the-2021-infrastructure-bill

Cryptocurrency exists outside of the US. In fact, that's kind of the whole point. Hope this helps.

[Castle2.0]

99% of crypto is probably going away.

Holding a security instead of a currency speaks volumes to what is planned next.

The infrastructure bill the house just passed with rules and regulations for cryptocurrency reporting is a game changer.
They are classifying digital assets as securities.

Brad Garlinghouse gave some warnings himself which were largely ignored.

There are people sitting at the table with the government, regulators, the biggest banks in finanical institutions.

These Lobbiest are already interfering and will continue to interfere.
See plans Even worse planned effective changes on Crypto Trades in 2023, Tax Filings in 2024*

Cash out and stay out else regret it. Before the Rush and your the one left with the empty bag.

Cryptocurrency exchanges have not previously been required to provide reports to their customers (like traditional brokers do), many taxpayers unknowingly failed to report their capital gains from cryptocurrencies, thus cheating the U.S. government out of tax income.*

Get out. There is no safety net on this Janga block chain tower that is about to fall.

https://www.voltequity.com/post/new-...structure-bill There is FUD, which is intentionally malicious, but then there is IFUD (Ignorant Fear Uncertainty and Doubt) which comes from a lack of knowledge.


You already have to report taxes on crypto as property. Changing it to reporting as a security doesn't change the outcome for the individual: you pay income on capital gains when you sell the crypto, period.
There already exist crypto tax services that use an API to grab all your trading info off exchanges you use (Coinbase, Kraken, Gemini, etc) and do the crypto portion of your taxes for you. One example is Taxbit, that raised $100 million from Tiger Global and Paradigm. They are now branching into normal tax prep too. Cya later classic tax accountants that don't adapt.
Stocks are regulated as securities. Did 99% of stocks magically, suddenly, without reason, disappear?
If bitcoin is a security, who is the legal entity that issues bitcoin? Who will the SEC approach to attempt to regulate the nature of bitcoin?
Firo, Monero, and other coins are anonymous, how will they regulate those? (see https://www.firo.org/about/research/ for details on how they do privacy)


You got it backwards, pal. Banks will be replaced by crypto-friendly banks, or crypto exchanges that become banks. Classic tax accountants will have to learn crypto taxes, or be replaced.

The only thing that is going to fall is the old status quo financial system. You're telling people to run from the strong tower of safety into the tower of babel.

[Castle2.0]

The US govmint can regulate US CEX (centralized exchanges) like Coinbase and Kraken. They can try to regulate CEX outside of the US via banking system (control flow of USD from bank to bank.)

They cannot regulate the blockchains themselves. They operate decentralized with no central entity.

They cannot regulate DEX (decentralized exchanges) like Uniswap, Pancakeswap, Sushiswap -- there are no legacy financial monetary pipes into or out of those system to regulate. It's pure crypto, often the LP (liquidity providers) are numerous anonymous individuals. Any USD is done via USDC, USDT, or some other stablecoin, or no stablecoins are used at all. Trading pairs are pure crypto.

Regulation is good for price. It allows more people to access it.

For those who don't care to be regulated themselves, they can simply operate outside of the regulation.

Welcome to Bittorrent for money and investing.

[Botten]

Because cryptocurrency exchanges have not previously been required to provide reports to their customers (like traditional brokers do), many taxpayers unknowingly failed to report their capital gains from cryptocurrencies, thus cheating the U.S. government out of tax income.*

In fact, legislators felt that underreporting of cryptocurrency gains was such a problem, IRS form 1040 now includes a new line that asked, At any time during the year, did you receive, sell, exchange, or otherwise acquire any financial interest in any virtual currency?

What is perceived as lying and not lying on your taxes. Crypto gives the appearance of an investment and what is the point if your investment when viewable value is now all fake. More so than before and worse in the future with more regulations coming.

[Botten]

What did you expect there isn't exactly lobbiest fighting for the existence of crypto.

And Global and US banks aren't going twiddle their thumbs. They are going to come off on top just like those getting out before the tumble.

But I can see why your worried. You are a promoter and there is legislation being made to come after you too.

[Gustoo]

The big banks will either come out with full control of crypto somehow, or by destroying the legality of crypto everywhere it matters. All it would take is USA to say it is a crime to end it, and the senators and friends who knows the legislation is coming would cash out no problem and like all pyramid schemes be out clean as a whistle while others are holding the bag.

Problem is this stuff is driving a lot of "wealth creation" right now so I dunno maybe they wait till economy collapses to kill crypto at same time. Double down on the poverty.

[Whale biologist]

The US govmint can regulate US CEX (centralized exchanges) like Coinbase and Kraken. They can try to regulate CEX outside of the US via banking system (control flow of USD from bank to bank.)

They cannot regulate the blockchains themselves. They operate decentralized with no central entity.

They cannot regulate DEX (decentralized exchanges) like Uniswap, Pancakeswap, Sushiswap -- there are no legacy financial monetary pipes into or out of those system to regulate. It's pure crypto, often the LP (liquidity providers) are numerous anonymous individuals. Any USD is done via USDC, USDT, or some other stablecoin, or no stablecoins are used at all. Trading pairs are pure crypto.

Regulation is good for price. It allows more people to access it.

For those who don't care to be regulated themselves, they can simply operate outside of the regulation.

Welcome to Bittorrent for money and investing.

In order to be a regulator you gotta be handy with the steel if you know what I mean, earn your keep.

[Gustoo]

Maybe crypto can keep having value if its hard to exchange for USD. Maybe?

I think people want to be able to exchange for common currency at favorable rates to do business legally. If its a black market exchange in BTC for USD to buy a home then it ain't gunna work out.

[Castle2.0]

I used to think I was a genius. But in reality, I was just surrounded by ignorance and shallow thinking.

Because cryptocurrency exchanges have not previously been required to provide reports to their customers (like traditional brokers do), many taxpayers unknowingly failed to report their capital gains from cryptocurrencies, thus cheating the U.S. government out of tax income.*

In fact, legislators felt that underreporting of cryptocurrency gains was such a problem, IRS form 1040 now includes a new line that asked, At any time during the year, did you receive, sell, exchange, or otherwise acquire any financial interest in any virtual currency?

What is perceived as lying and not lying on your taxes. Crypto gives the appearance of an investment and what is the point if your investment when viewable value is now all fake. More so than before and worse in the future with more regulations coming.

To make sure you pay taxes on all the pirated movies and games you downloaded, and didn't pay for, the tax form should include this line:

At any time during 2020, did you download, store, watch otherwise acquire any pirated games or movies from any site? []Yes []No

Regulation of crypto will be much like regulation of torrenting: technically there, but pragmatically "opt-in" by self-reporting or using centralized services who keep track of what you are doing.

What did you expect there isn't exactly lobbiest fighting for the existence of crypto. False. Try google.


And Global and US banks aren't going twiddle their thumbs. They are going to come off on top just like those getting out before the tumble. FUD. See you in 2024. Sorry you will be poorer for your lack of vision, weakness to fear, and learned helplessness.


But I can see why your worried. You are a promoter and there is legislation being made to come after you too. Not worried. Regulation is net positive for crypto. It allows old people to invest their retirement in bitcoin - already happening.

What can be regulated, will be: Central Exchanges, ETFs, investment advisors, IRAs, etc. What can't be regulated, won't be: DEX, blockchains, foreign exchanges.

The big banks will either come out with full control of crypto somehow, or by destroying the legality of crypto everywhere it matters. All it would take is USA to say it is a crime to end it, and the senators and friends who knows the legislation is coming would cash out no problem and like all pyramid schemes be out clean as a whistle while others are holding the bag.

Problem is this stuff is driving a lot of "wealth creation" right now so I dunno maybe they wait till economy collapses to kill crypto at same time. Double down on the poverty. Learn how blockchains work.

Also, see gold confiscation history.

In order to be a regulator you gotta be handy with the steel if you know what I mean, earn your keep. You were reduced by a tenth previously in this thread then exited. Feel free to watch from the sidelines on this cool black night or own up for your silliness.

[Gustoo]

Good responses Castle thanks.

[Castle2.0]

Most people don't have much money, and their personal experience leads them to believe there isn't much money in the world.

The world is swimming in money.

BTC going to $10T market cap is easy.

Let this blow your mind: all the world's money visualized https://www.visualcapitalist.com/all-of-the-worlds-money-and-markets-in-one-visualization-2020/ (May 2020, but still relevant today)

[Tunabros]

cringe

[Gustoo]

Derivatives are more than the combined total of all other value aspects.

Seems like a good system we should expect to succeed for years to come.

[Jibartik]

Im pretty sure you could convince half the country to make bitcoin illegal.

[Castle2.0]

People that make money find a way.

People that don't make money think of all the reasons they can't make money or all the ways they could lose what little they have.

Cheers.

[Gatordash]

This is not financial advice. But if I ever were to give financial advice, this would be the most sound, most fool-proof.

lol what a quote. I really hope it works out for you, but you need to take the 'get rich quick' stuff with a grain of salt. I hope you've at least slightly diversified your investments.

[Castle2.0]

The majority of my wealth/savings is in crypto, largely BTC. I make some investments in altcoins, such as HNT (we just 3x'd.) US has been seriously discussing killing 1031 exchange so I don't want to be in RE.

BTC has been the best investment by far since 2009.

It's not get rich quick. It's "preserve wealth now."

BTC is only seen as "get rich quick" to people that don't understand it. So now I know, you just don't understand it.

Don't feel bad, most people didn't understand the internet in 1998.

[Gatordash]

The majority of my wealth/savings is in crypto, largely BTC. I make some investments in altcoins, such as HNT (we just 3x'd.) US has been seriously discussing killing 1031 exchange so I don't want to be in RE.

BTC has been the best investment by far since 2009.

It's not get rich quick. It's "preserve wealth now."

BTC is only seen as "get rich quick" to people that don't understand it. So now I know, you just don't understand it.

Don't feel bad, most people didn't understand the internet in 1998.

I definitely don't feel bad. I also hope you hit it big. Its just got a lot of get rich quick vibes. Squidgame coins. AMC coins (https://cointelegraph.com/news/amc-gets-hyperactive-about-cryptocurrency-ceo-says-it-may-issue-its-own-coin). Dogecoin. Lots of things just not adding up. And not adding up in all markets, not just crypto. P/E Ratios are like 5-10 times earnings right now. I think its just a tough time to go all in on one area imo. People should be diversifying their investments to reduce risk. (This is also not financial advice. But if I ever were to also give financial advice, this would be the most sound, most fool-proof. :)

[Castle2.0]

Its just got a lot of get rich quick vibes. Squidgame coins. AMC coins. Dogecoin. Lots of things just not adding up. And not adding up in all markets, not just crypto. P/E Ratios are like 5-10 times earnings right now. I think its just a tough time to go all in on one area imo. People should be diversifying their investments to reduce risk.

100% agree on your first point. Lots of scams in crypto. Lots of crapcoins with no value. Lots of pump n dump, rug pull, self-serving BS. 100% this. It's true with the stock market except less outright scams. Mostly "this penny stock will go the moon."

I don't touch doge, shiba inu, or any other meme/crap coin.

My initial fascination with BTC in 2010 (yes, I wish I bought more and held longer - no, I am not a BTC millionaire) was philosophical: honest money. I didn't think it would do as well as it has, but now I see it's inevitable. Simply having a store of value that cannot be inflated... so simple yet so powerful.

Your second point I 100% disagree with. Growing wealth doesn't come through diversification. It comes through heavily focused, smart investing. You need to "put your eggs all in one basket, then watch that basket."

Once I am 9 figures, then I'll diversify for wealth preservation.

[Jibartik]

Your second point I 100% disagree with. Growing wealth doesn't come through diversification. It comes through heavily focused, smart investing. You need to "put your eggs all in one basket, then watch that basket."

https://www.addictioncenter.com/drugs/gambling-addiction/#:~:text=Gambling%20addiction%20is%20the%20uncontr ollable,common%20impulse%20control%20disorder%20wo rldwide.

a diversified portfolio will last you the rest of your life, letting it ride will last you as long as you're lucky.

edit: that said if you want to go all in on BTC (after the next dip) then go for it, but remember to never forget how dumb you are for taking such a huge risk now instead of a smol one a few year ago! :o

if you went all in around now last time, right now youd be like OHHHH I ALMSOT GOT MY INVESTMENT BACK OHHHHH PLZZ
HOLD PLZZZZZZZ!

I still think it wont break 75 before it craters again but I could be wrong, could go from here to 150 who the fuck knows wtf bitcoin does not castle not anyone lmao

[Castle2.0]

---You were here---
$2 it's a bubble
$30 it's a bubble
$1,300 it's a bubble
$10,000 its a bubble
$20,000 it's a bubble
$60,000 it's a bubble
--- You are here ---
$100,000 it's a bubble
$500,000 it's a bubble
$1,000,000 it's a bubble
...

If bitcoin is a bubble, when does it pop?

[Gustoo]

Unfortunately Castle bitcoin has not really weathered any significant financial storms yet. After 2008 the stock market has been going up and up and up and up seemingly without sense at all. A 401k can be yielding close to 20% right now if it's invested in stocks which is mind boggling.

How it handles a major disruption in the market will be very interesting.

[Castle2.0]

2008–2011: Icelandic financial crisis
2008–2014: Spanish financial crisis
2010: European sovereign debt crisis
2014-2016: Russian financial crisis
2010-2018: Greek government-debt crisis
2018–: Turkish currency and debt crisis
2020: 2020 stock market crash (especially Black Monday and Black Thursday)


Did I miss one?

Yes, the Fed wants to outlaw bear markets and a lot of printed money has flooded into stocks. Anyone who bought stocks in early 2020 is doing great.

But bitcoin is doing better.

In 10 years, maybe your basket of stocks will be a great pick. Maybe not. In 10 years, Bitcoin will be worth 10-50x+ what it is today in USD terms. Part of that will be due to BTC adoption, part of that is due to USD inflation.

Bitcoin is the greatest 'trade' of our lifetime. Period. That's the point of this thread.

Here's the projected worldwide Bitcoin users expressed in Internet years:

Internet 1997 = Bitcoin 2021
Internet 2005 = Bitcoin 2025
Internet 2010 = Bitcoin 2028

Here's how the Internet changed...

[Gustoo]

Yeah none of those post 2008 crisis were universally hitting the entire world like the 08. 2020 was different being a self inflicted damage on the economy to help re-arrange wealth again towards upper tiers.

Your arguments in favor of bitcoin are still robust. If anything a big crisis will show btc to be as robust as you say it is.

[Castle2.0]

Could be soon. Even the Fed's public tone is changing:


"There is no inflation."
"Inflation is minor"
"Inflation is higher than expected, but transitory."
"Inflation may last longer than expected."
---We are here---


How can we avoid it if we keep printing?

[Jibartik]

Bitcoin is definitly a pyramid scheme, it wont make it to 1 mil but I like your optimism. :)

before you start talking about its real world applications, these fruit pills also provide real world applications.

it's just a god damn big pyramid.

older members get richer everytime new members join in, new memberse spend all day recruiting newer members.

it's a pyramid scheme eventually we'll run out of suckers, but by then it will be too big to fail dont take me saying this like it's some doom and gloom it's just a fact desnt mean anything but that, could make a bigger pyramid forever could collapse i dont care, but by all definitions, it is a pyramid scheme.

Get in while you can!

[Castle2.0]

But nay.

Comparing bitcoin to fruit pills is silly.

Your definition of pyramid fits Tesla, Apple, Facebook, Twitter, and any enterprise that grew exponentially in value.

Bitcoin is worth more than any of those companies.

It was the fastest brand to hit $1 trillion dollars.

----------

Billions of people are losing 2-5% or more of the work energy they expend in a year year-on-year in perpetuity.

Inflation is manmade rust or blight that goes on in perpetuity. It is a cancer on our livelihoods. Man has been fighting the 2nd law of thermodynamics for years. We still are. Inflation adds to it. Bitcoin ain't free, we use lots of electrical energy to keep it going. But the cost of what goes in is a pittance compared to what comes out.

We are curing economic cancer of arbitrary, ivory tower runaway inflation policy. We are pushing back against endless wars.

[Castle2.0]

Also $1M bitcoin means $21T bitcoin market cap. Gold is $10T. In the next 4 years, BTC will surpass gold market cap, maybe around $4-7T area as gold falls and BTC rises. New gen wants digital gold, not analog gold.

$21T market cap, or 2x gold... Is Bitcoin 2x superior to gold?

No, it's many multiple times more valuable for what it is and can do.

$1M bitcoin only seems crazy because we haven't hit $100k.

$100k bitcoin seemed crazy because we hadn't hit $10k.

$10k seemed crazy because we hadn't hit $1k.

EXPAND YOUR THINKING

Stock-to-flow model, baby. We're going to $1M+

[Whale biologist]

https://i.imgur.com/TBbSKjY.jpg