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Old 24th November 2020, 08:24 AM   #801
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19350.
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Old 27th November 2020, 03:02 PM   #802
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Wheeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeee ee!
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Old 27th November 2020, 03:05 PM   #803
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Quote:
Bitcoin slumped further through the Thanksgiving holiday as intense profit-taking dragged on prices.

The world's most popular cryptocurrency has tumbled as much as 5.9%, to $16,242.70, over the past 24 hours.

The slump was Bitcoin's biggest since the coronavirus pandemic slammed markets in March, and it reversed the weeks-long rally that placed the token within a hair of its record high.

Other cryptocurrencies including Ethereum and XRP were caught in the sell-off and sank as well.
https://markets.businessinsider.com/...-11-1029844889
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Old 27th November 2020, 10:16 PM   #804
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Originally Posted by novaphile View Post
https://markets.businessinsider.com/...-11-1029844889
Quote:
The world's most popular cryptocurrency has tumbled as much as 5.9%, to $16,242.70, over the past 24 hours.
That's nothing for Bitcoin, a mere blip that could easily reverse itself tomorrow.

Some call it 'digital gold', but it isn't really a commodity - and with this volatility it's unlikely to see widespread application as a currency. So what's left? Speculation.

Bitcoin is ideal for making money out of nothing, if you are skilled or lucky enough to beat the other fools. They keep putting money into the pot thinking they will all be winners, but as Bitcoin doesn't create wealth it's a zero sum game. For every 'investor' who gains, others lose, and the price goes up and down according to what they collectively imagine it is worth. Bitcoin's volatility is a hindrance to its original purpose, but speculators love it. The only thing that would damp their enthusiasm would be if it became stable, and then they would have to move on to something else.

Some other cryptocurrencies are more useful and some are more volatile, but none have 'gone to the Moon' like Bitcoins has. Why is this so if they are 'technically' superior? Two reasons:-

1. less 'brand recognition' and lower loyalty. Bitcoin is the original, no others can compare!

2. They haven't got as much money in the pot. Even though you could make just as much trading in other 'coins', Bitcoin has the psychological edge because each one is 'worth' so much.

Apart from that it's got nothing, but psychology is everything in this market...
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Old 27th November 2020, 10:23 PM   #805
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Old 27th November 2020, 11:34 PM   #806
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New article will be coming out Sunday about Coinbase. Something about their treatment of Blacks and allegations of racism at Coinbase.
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Old 7th December 2020, 11:55 AM   #807
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Originally Posted by Roger Ramjets View Post
That's nothing for Bitcoin, a mere blip that could easily reverse itself tomorrow.
Indeed, it fell for a short period but is back to what it was before the dip.


Quote:
Bitcoin's volatility is a hindrance to its original purpose, but speculators love it.
True but it's still useful for buying and selling. The volatility is pretty easily mitigated for the buyer by only buying as much bitcoin as you need and then using it to make your purchase right away. More of an issue for the seller unless they regularly convert back to fiat currency. Even if it dips you can usually just wait a bit and it'll come back. Tough if you have a cash flow issue and need the money though.
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Old 11th December 2020, 02:17 AM   #808
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Crypto currencies should not show capital gain if serving the next world.
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Old 11th December 2020, 07:25 PM   #809
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Originally Posted by Samson View Post
Crypto currencies should not show capital gain if serving the next world.
Crypto currencies are just digital assets. There is no rule saying how they are to be traded nor what purpose (or world) they should serve.
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Old 16th December 2020, 09:51 AM   #810
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$20,899.00 a few minutes ago.
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Old 16th December 2020, 11:44 AM   #811
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Originally Posted by The_Animus View Post
True but it's still useful for buying and selling. The volatility is pretty easily mitigated for the buyer by only buying as much bitcoin as you need and then using it to make your purchase right away.
Then what's the point? Easier, cheaper, and safer to just use the currency you already have.

Originally Posted by ChrisBFRPKY
$20,899.00 a few minutes ago.
How high will it go? Has it peaked already? Don't wait too long to sell...
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Old 16th December 2020, 11:50 AM   #812
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Well .. pornhub stopped accepting cards (or rather cards stopped accepting pornhub) and only way to pay is crypto now. Might actually be just starting.
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Old 16th December 2020, 04:26 PM   #813
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Originally Posted by ChrisBFRPKY View Post
$20,899.00 a few minutes ago.
Bummer! It happened while I was asleep. I wanted to be the one to report when the price broke the $20K barrier.

Just for laughs, I reviewed some of the posts from 2 - 3 years ago. The number of posters who authoritatively said that this will NEVER EVER happen is hilarious.
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Old 16th December 2020, 04:53 PM   #814
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Originally Posted by psionl0 View Post
Bummer! It happened while I was asleep. I wanted to be the one to report when the price broke the $20K barrier.

Just for laughs, I reviewed some of the posts from 2 - 3 years ago. The number of posters who authoritatively said that this will NEVER EVER happen is hilarious.
Going down that rabbit hole could lead to unintentionally hilarious chaos.
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Old 16th December 2020, 04:55 PM   #815
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Originally Posted by psionl0 View Post
Bummer! It happened while I was asleep. I wanted to be the one to report when the price broke the $20K barrier.

Just for laughs, I reviewed some of the posts from 2 - 3 years ago. The number of posters who authoritatively said that this will NEVER EVER happen is hilarious.
A new first---- over 21K now! $21,378.00
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Old 16th December 2020, 09:20 PM   #816
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Originally Posted by Roger Ramjets View Post
Then what's the point? Easier, cheaper, and safer to just use the currency you already have.
The point is that sometimes it is actually easier, cheaper, and safer to use bitcoin.
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Old 17th December 2020, 09:38 AM   #817
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Old 17th December 2020, 12:16 PM   #818
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The Money Fairy is back in town. From past experience I can confidently say her stay is not set in stone. You can ignore her, again if you choose, or you can get some. No one can say they were not told.
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Old 17th December 2020, 03:30 PM   #819
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Originally Posted by ChrisBFRPKY View Post
The Money Fairy is back in town. From past experience I can confidently say her stay is not set in stone. You can ignore her, again if you choose, or you can get some. No one can say they were not told.
Well .. ATH is exactly when you should ignore. Wait till it falls to 3k again.
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Old 17th December 2020, 09:09 PM   #820
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Originally Posted by Dr.Sid View Post
Well .. ATH is exactly when you should ignore. Wait till it falls to 3k again.
Buying in at BTC ATH for holding is silly, but riding those $1000+ swings is great.

For those that do not own BTC, there are several Alts that are also bouncing ATM and some real bargains ATM. Today has been very good for making money from crypto in general. Volatility of this type only comes around every now and then. Soon we'll be back to horizontal lines and brief hiccups.....Not much money in those.
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Old 19th December 2020, 07:05 PM   #821
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Originally Posted by ChrisBFRPKY View Post
The Money Fairy is back in town. From past experience I can confidently say her stay is not set in stone. You can ignore her, again if you choose, or you can get some. No one can say they were not told.
Buying to hold would be daft atm.
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Old 19th December 2020, 08:04 PM   #822
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Originally Posted by p0lka View Post
Buying to hold would be daft atm.
History shows that whenever there has been a major bubble, the price peaked at many times its previous peak and even when the price crashed afterwards, it didn't fall below the previous peak.

If you can afford to gamble then "buy and hold" is a reasonable consideration. Also, buy and sell at 2 or 3 times your purchase price has a reasonable chance of succeeding.
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Old 20th December 2020, 09:09 AM   #823
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Originally Posted by psionl0 View Post
Bummer! It happened while I was asleep. I wanted to be the one to report when the price broke the $20K barrier.

Just for laughs, I reviewed some of the posts from 2 - 3 years ago. The number of posters who authoritatively said that this will NEVER EVER happen is hilarious.
What's sad, and not at all hilarious, are the number of people who have no clue that this is about the destruction of the US dollar.
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Old 20th December 2020, 12:08 PM   #824
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Originally Posted by Tippit View Post
What's sad, and not at all hilarious, are the number of people who have no clue that this is about the destruction of the US dollar.
Why dollar ? Why not Euro ? Why not yuan ?
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Old 20th December 2020, 01:56 PM   #825
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Originally Posted by Tippit View Post
What's sad, and not at all hilarious, are the number of people who have no clue that this is about the destruction of the US dollar.
You might not be the ideal candidate to be throwing that insult around.
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Old 20th December 2020, 06:57 PM   #826
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Originally Posted by Tippit View Post
What's sad, and not at all hilarious, are the number of people who have no clue that this is about the destruction of the US dollar.
Can you elaborate on that?

So far I have only seen kooks make that claim and none of them have been able to explain how.
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Old 23rd December 2020, 09:48 PM   #827
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DNT pump on Coinbase Pro running again now if anyone's interested.
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Old 25th December 2020, 04:48 AM   #828
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Old 26th December 2020, 10:50 AM   #829
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Old 27th December 2020, 10:18 AM   #830
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Originally Posted by psionl0 View Post
Can you elaborate on that?

So far I have only seen kooks make that claim and none of them have been able to explain how.
The evidence, is that asset prices in dollars are skyrocketing everywhere, almost without exception, including bitcoin. What do you think this represents if nothing less than the debasement of the dollar?

If some asset prices somewhere were to rise, and some were to fall correspondingly, then maybe it wouldn't be so obvious. But asset prices have done nothing but rise across the board, from debt to equity, to speculative assets like bitcoin.
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Old 27th December 2020, 07:04 PM   #831
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Originally Posted by Tippit View Post
The evidence, is that asset prices in dollars are skyrocketing everywhere, almost without exception, including bitcoin. What do you think this represents if nothing less than the debasement of the dollar?
That's a few rungs lower than "destruction" of the US dollar.

I know that we have perpetual inflation - made necessary by politicians who don't want to live within the government's means. If they had to explain where the money was coming from then their pork barreling would not be so effective. Much better to use the invisible hand of inflation to finance their profligacy. That's why the politicians (and their paid economists) all say this is a good thing.

I thought you were saying that bitcoin would somehow put an end to the US dollar.
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Old 2nd January 2021, 12:54 AM   #832
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Old 2nd January 2021, 07:36 AM   #833
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Originally Posted by ChrisBFRPKY View Post
BTC testing $30K. $29,918 a few minutes ago.
Bitcoin shot past the $30K barrier in the last couple of hours and if past bubbles are any indicator, this might only be the beginning.
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Old 2nd January 2021, 10:19 PM   #834
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Old 2nd January 2021, 10:30 PM   #835
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Just a small detour on its way to zero.
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Old 3rd January 2021, 01:09 AM   #836
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Looks like another DNT pump getting set up on Coinbase if anyone's interested. Could begin any minute now. My guess is 2:30 am start. CST*
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Old 3rd January 2021, 01:22 AM   #837
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Originally Posted by trustbutverify View Post
Just a small detour on its way to zero.
Are you really going to stick your neck out like this after the thorough humiliation of the people who were posting here 2-3 years ago?
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Old 3rd January 2021, 01:53 AM   #838
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Originally Posted by Roger Ramjets View Post
One thing you can be sure of with Bitcoin is that the price is never 'steady'. Short-term price variations are impossible to predict with any degree of certainty, due to the unpredictable behavior of bitcoiners who are driven by sentiment rather than fundamentals.

But that doesn't matter. The important thing is that we are coming up on 3 years since the last peak and still 50% down, and every day closer to seeing John McAfee eat his own dick on live TV!

Or perhaps not.

John McAfee No Longer Willing to Eat His Dick on TVNot that stupid to believe what, John? That Bitcoin will reach $1 million? That you have any idea what you are talking about? But you expected them to swallow the ruse...

But hey, it might happen, right?



Well something extraordinary did happen, which should have immensely favored Bitcoin. But widespread adoption as a currency still eludes it, and it is still too volatile to be a reliable asset. What will it take to propel Bitcoin to the Moon?
It is no longer a transactional currency. Transaction times are too slow for that and can never be quick enough. It just exists now because it was first and is more regarded as being valuable in itself. It has an inertia and an infrastructure base that no other CC has ever achieved.
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Old 3rd January 2021, 03:20 AM   #839
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Originally Posted by novaphile View Post
17,076

Wheeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeee ee!
Wow. This post was the 27th of November. Fast forward a few days over a month since then and some quick math:

17,076 X 2 = $34,152

BTC was at $34,817 just a couple of hours ago.
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Old 3rd January 2021, 03:42 AM   #840
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Originally Posted by Roger Ramjets View Post
That's nothing for Bitcoin, a mere blip that could easily reverse itself tomorrow.

Some call it 'digital gold', but it isn't really a commodity - and with this volatility it's unlikely to see widespread application as a currency. So what's left? Speculation.

Bitcoin is ideal for making money out of nothing, if you are skilled or lucky enough to beat the other fools. They keep putting money into the pot thinking they will all be winners, but as Bitcoin doesn't create wealth it's a zero sum game. For every 'investor' who gains, others lose, and the price goes up and down according to what they collectively imagine it is worth. Bitcoin's volatility is a hindrance to its original purpose, but speculators love it. The only thing that would damp their enthusiasm would be if it became stable, and then they would have to move on to something else.

Some other cryptocurrencies are more useful and some are more volatile, but none have 'gone to the Moon' like Bitcoins has. Why is this so if they are 'technically' superior? Two reasons:-

1. less 'brand recognition' and lower loyalty. Bitcoin is the original, no others can compare!

2. They haven't got as much money in the pot. Even though you could make just as much trading in other 'coins', Bitcoin has the psychological edge because each one is 'worth' so much.

Apart from that it's got nothing, but psychology is everything in this market...

If everyone agrees BTC is worth $40,000 then everyone has gained. It's not a zero sum game in that sense. Stocks and shares do that as well.
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