Full faith and credit of the government. In some cases (Venezeula), this doesn't work out so well. In others (USA), not so bad.

What does that even mean for an unbacked dollar? You can trust that you'll always get four quarters, 10 dimes, 20 nickels or 100 pennies for it?

out of curiosity I tried to send $25 of btc on coinbase until i saw they wanted $17 to do it

Transfer to GDAX for free; send from GDAX for free.

But yeah, that's nuts ha.

"Full faith and credit of the United States government" is just a nice way of saying "Full Spectrum Military Dominance."

So it looks like every youtube vlogger is a Bitcoin expert now. Bunch of random channels I watch have flipped from their original content to talking Bitcoin/Crytpo. Kind of annoying. I see Doug Polk has a Crypto channel now too.

It means they will always accept your dollars for taxes or other payments due to the government.

The selloff is real.

Not really at all. Over time, BitcoinCash would become more and more centralized. BitcoinCash just has one of the best marketing teams in the space right now and vastly inferior DEVs to support it right now.

on the candles(looking at charts), some candles have line segments on top or on the bottom of them, some do not have them, some lines are long, some lines are short, what do the lines mean?

I think we are due for a massive correction coming up. This is my theory. Big money from Wall Street are likely driving up the price intentionally as of late. After money is settled on these futures. People with big money will intentionally sell massive amounts of bitcoin to drive down the price. This will enable them to make big returns on the futures being settled.

Since the futures are settled in cash and not in Bitcoin this would be hard to prove for market manipulation which is illegal. Could bitcoin go to sub $9000? We've seen Bitcoin do crazy stuff in the past.

I took some Bitcoin off the table. If I am wrong and it continues to go up. I will be okay with that. If I am right and it goes down I will be able to buy more without investing new money. I don't want to put anymore new money into crypto, because I have enough in as it is. If I had a small amount in crypto I'd probably hold, but I need to take a bit off the table so I can rebuy on dips with some and keep some out completely for other ventures in life. I've developed an investing system on Bitcoin and I am really excited about it.

FYP

Rallies come quickly in crypto nowadays. Bitcoin, on one exchange, went from $19900 to $17800 in the selloff you described, but it's already back above $18700. Even that 10% decline only cancels out like 36 hours of profit in the first place. Insane.

How not to protect your password(s). https://www.wired.com/story/i-forgot...00-in-bitcoin/

https://lightning.network/lightning-network-paper.pdf

lol BCC

I know it's ****ing great.

But think if someone owns 10 btc. That is a 20k loss in like 45mins.

nah man think about how much money Jeff Bezos gains and loses on a daily basis

What's insane is that not everybody already knows this.

So Block Stream doesn't control the lightning network? And they aren't ****ing up the original tech by keeping the blocks small? And the lightning hubs won't be governed by banks? And this is all illuminati bull****? Actually curious.

****ing newbs coming out all over the place. HODLERS don't ****ing think, we just BE.

****ING HODL AND HODL SOME MORE. All you young bucks are at least advised with the best possible info. Do with it what you will.

I've developed an investing strategy for Bitcoin. Check it out.

I've divided my money into 5 categories; the first three are in bitcoin and the last two are in dollar:

1) HODL Coins
2) Exit Coins
3) Temp Coins
4) Bubble Pool
5) Takeout

HODL coins
These coins are held forever. These coins are under the assumption that BTC will replace the dollar. Recommended amount of coins here to start is 30%.

Exit Coins
These coins are held until an arbitrary peak called the Exit Peak. If the price of Bitcoin reaches the Exit Peak, 1/6 of the total supply of Exit Coins are sold and the next Exit Peak is double the current peak. Example: If the peak is $20,000 and Bitcoin surpasses that, then 1/6 of the Exit coin supply is sold. The next peak is at $40,000. The process repeats indefinitely. Recommended amount of coins here to start is 70%

Temp Coins
These coins are mini-goals so to speak. These coins are bought when the market is low and are sold when the market doubles in value from the time they were purchased.

Bubble Pool
This money includes dollars that have been sold that will get reinvested if the market drops. When buying back in, the formula goes as follows: (1 - (BTC price) / (Exit Peak)) * Bubble Pool.

Reinvesting requires an arbitrary drop in price. Perhaps 5 to 10 percent. Note that if the percentage is not big enough exchange fees may not be worth it. If I feel very bearish I can wait for it to drop even further. For example, if people are panicking on Bitcoin forums trying to sell, but are unable to. I'm probably not going to buy back in for awhile.

Takeout
This money includes dollars that have exited the cryptosphere for other investments, life expenses, causes, or luxury.


Whenever selling coins 60% of the money is placed in the Bubble Pool and 40% is placed in Takeout.

Whenever buying coins 50% of them are placed in Exit Coins and 50% is placed in Temp Coins.


Sometimes The Bubble Pool may get inflated if a later Temp Coin position doubles while an earlier one does not. This is not too significant though. This can be counteracted by selling the correct amount of the later Temp Coin position and moving the remainder to the earlier Temp position. It can also be ignored entirely and if there is yet another Temp Coin position available due to a bearish market I will have a little bit more to put in since the Bubble Pool is slightly inflated.

My Bitcoin has grown so much in accordance to my net worth that it is kind of unhealthy to keep it that way. If Bitcoin makes it to 4 million dollars someday I will still be wealthy. I'll probably be short about 2/3 of what I could have, but I don't think my life circumstances would be much different/worse. If Bitcoin collapses I will still have made a profit rather than losing everything I invested.

Another advantage to my strategy is if Bitcoin has some insane volatility such as dropping 94%, which it has a history of doing, I could end up making even more money in the long run. I created a whole document of this in excel to help me out. Wish me luck!

Tulipmania never actually happened.

The lines (wicks) are the highest or lowest trades and the candles are the change in price between the time intervals.

I think everyone knows it they just don't make the connection between the dollar amount and %. (kind of like what Aggo was saying when he said to not look at transaction fees in terms of dollars)

As far as "corrections" go, this hardly even counts, but if you look at it in dollars it now seems huge.

Please explain because there is plenty of evidence for the extreme rise and drop in price. It didn't hurt the economy because they were mostly unrealized gains between a small group of traders. Sounds familiar.