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Old 10-07-2018, 09:08 PM   #30726
ddlloo12
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Re: Bitcoins - digital currency

I think btc will move back down to 4k before bottom is formed
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Old 10-07-2018, 09:22 PM   #30727
pontylad
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Re: Bitcoins - digital currency

Proton, you are not being rational. 0.5 btc could be life changing to some people, it is all relative. Something like half of 20-30 years olds in the UK have literally no savings (recent government survey). I don't often agree with de captain but he is absolutely right in regards to some wanting to cash out after being scammed.
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Old 10-07-2018, 11:35 PM   #30728
OmgGlutten!
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Re: Bitcoins - digital currency

yeah, the first thing i did when stars reopened my account (with $250,000 in it) was withdraw like $225,000. it didn't feel safe anymore.
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Old 10-08-2018, 01:35 AM   #30729
TheMVP
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Re: Bitcoins - digital currency

It's not simply a sell or hold on exchange situation, they can store their BTC safely themselves on a Trezor, but yeah even as a bull it's hard to argue there won't be at least moderate selling when Gox coins are returned.
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Old 10-09-2018, 04:17 AM   #30730
CoolTimer
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Re: Bitcoins - digital currency

Quote:
Originally Posted by OmgGlutten! View Post
There is an article posted in here that I am too lazy to find which was epic and talks about how amazing it would if we only had bitcoin and someone invented fiat money.

"You no longer need to waste all that energy and time keeping a record of every transaction just so you can buy a chocolate bar. Money for the modern world as we move away from our caveman ancestors."
"Guys, let's get rid of Bitcoin and I'll give you paper money instead. If I need something for myself, I'll print a bit more, but that's fine right .. right? "
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Old 10-09-2018, 05:11 AM   #30731
OmgGlutten!
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Re: Bitcoins - digital currency

Yeah, print enough so that you average ~2% inflation a year.
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Old 10-09-2018, 06:53 AM   #30732
CoolTimer
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Re: Bitcoins - digital currency

Quote:
Originally Posted by OmgGlutten! View Post
Yeah, print enough so that you average ~2% inflation a year.
I've pointed this out a couple of times, but this would be fine in theory. Probably not as optimal as a fixed supply, but at least it would be a predictable supply. The problem is though, and it's a big one, that everybody in the history of the world who has been in charge of money printing will eventually print more for their own benefit. You could NEVER trust the 2% inflation number.

So you can not have a single group of people in charge of monetary policy. Bitcoin solves this. No single group has enough power to change the monetary policy. The implications of this are mindblowing.
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Old 10-09-2018, 07:04 AM   #30733
OmgGlutten!
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Re: Bitcoins - digital currency

Fixed Supply has been a disaster historically.
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Old 10-09-2018, 07:34 AM   #30734
27AllIn
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Re: Bitcoins - digital currency

How has fixed supply been a disaster?
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Old 10-09-2018, 07:38 AM   #30735
CoolTimer
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Re: Bitcoins - digital currency

Quote:
Originally Posted by OmgGlutten! View Post
Fixed Supply has been a disaster historically.
Taking your authority on this doesn't cut it. We need sources. I am worried we're going to repeat the same, old argument though. But if you have convincing sources for why a fixed supply has been a disaster historically I'm all ears.
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Old 10-10-2018, 01:25 PM   #30736
12bigworm81
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Re: Bitcoins - digital currency

Does anyone else see the humor in believing BTC/Crypto is the future, but wanting them to achieve higher prices in dollars?
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Old 10-10-2018, 01:50 PM   #30737
stinkypete
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Re: Bitcoins - digital currency

Quote:
Originally Posted by 12bigworm81 View Post
Does anyone else see the humor in believing BTC/Crypto is the future, but wanting them to achieve higher prices in dollars?
Everyone sees why people who think they're smart insist on seeing humor where there is none.

The humor is in thinking that the price in dollars/fiat today is irrelevant when it's obviously the best measure, at least for the foreseeable future
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Old 10-10-2018, 02:07 PM   #30738
CoolTimer
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Re: Bitcoins - digital currency

Quote:
Originally Posted by 12bigworm81 View Post
Does anyone else see the humor in believing BTC/Crypto is the future, but wanting them to achieve higher prices in dollars?
What?? I would like to buy my lambo for 0,1BTC instead of 100BTC. What's funny about that.

Edit: Oh, I see what you might mean here. Yeah in a way it's kinda contradictory, but most people pushing for it are pretty heavily invested already. So they would take the immediate gains with more certainty over the more uncertain gains in the future, but with the benefit of being able to buy more cheaply.
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Old 10-11-2018, 12:29 AM   #30739
synth_floyd
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Re: Bitcoins - digital currency

A study estimates that 4 million bitcoins, out of a current supply of ~17 million are lost.

http://fortune.com/2018/10/10/can-th...nk-the-market/
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Old 10-11-2018, 02:01 AM   #30740
Dogboy714
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Re: Bitcoins - digital currency

Quote:
Originally Posted by synth_floyd View Post
A study estimates that 4 million bitcoins, out of a current supply of ~17 million are lost.

http://fortune.com/2018/10/10/can-th...nk-the-market/
Bullish then...
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Old 10-11-2018, 02:33 AM   #30741
housenuts
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Re: Bitcoins - digital currency

This is not surprising. Likely already factored in
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Old 10-11-2018, 02:54 PM   #30742
TeflonDawg
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Re: Bitcoins - digital currency

What's the effect of a bitcoin never moving again forever? Don't people lose their coins forever on a regular basis just due to human error? That seems like an issue, the idea that a finite supply continuously shrinks in aggregate total...

Is Satoshi playing 3d chess? Has something in the works for the world, Banksy style? I just think he's dead, but wtf @ one third of BTC's value being held by dead people or criminals...
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Old 10-11-2018, 05:26 PM   #30743
synth_floyd
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Re: Bitcoins - digital currency

If he was alive or someone had access to his bitcoins why wouldn't they move any of it ever at any point? Is he so rich that he wouldn't even want to cash out 1 per day? Donate to charity at least. Or something. Seems likely that he is dead or for some other reason those coins are gone for ever.

And tether which is supposed to be the stable coin backed by real dollars that underpins the entire online trading ecosystem for cryptos is trading at around .98 on multiple exchanges. Not a good sign. https://cryptowat.ch/assets/usdt
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Old 10-11-2018, 05:36 PM   #30744
Mat Cauthon
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Re: Bitcoins - digital currency

Quote:
Originally Posted by TeflonDawg View Post
What's the effect of a bitcoin never moving again forever? Don't people lose their coins forever on a regular basis just due to human error? That seems like an issue, the idea that a finite supply continuously shrinks in aggregate total...

Is Satoshi playing 3d chess? Has something in the works for the world, Banksy style? I just think he's dead, but wtf @ one third of BTC's value being held by dead people or criminals...
It could shrink so slowly that it's irrelevant. The vast majority of lost coins are from before there was a price or when it was close to nothing, by people who experimented with it because they thought it was interesting technology.
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Old 10-11-2018, 06:23 PM   #30745
namisgr11
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Re: Bitcoins - digital currency

The 'store of value' that is cryptocurrency has already seen $1.1 billion stolen in the first half of 2018.
https://www.cnbc.com/2018/06/07/1-po...asy-to-do.html
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Old 10-11-2018, 06:36 PM   #30746
Dutch101
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Re: Bitcoins - digital currency

We can only link early coins directly to Satoshi and it is very possible he continued mining and is more than rich enough to not need those early coins. He is smart enough to realize that he can't easily sell the early coins these days without outting himself and they are not going anywhere.
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Old 10-11-2018, 07:55 PM   #30747
OmgGlutten!
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Re: Bitcoins - digital currency

Obvious example is the US recovery after 2008 versus countries who were forced into or chose austerity. And of course the Great Depression.
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Old 10-11-2018, 10:06 PM   #30748
TheMVP
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Re: Bitcoins - digital currency

Quote:
Originally Posted by namisgr11 View Post
The 'store of value' that is cryptocurrency has already seen $1.1 billion stolen in the first half of 2018.
https://www.cnbc.com/2018/06/07/1-po...asy-to-do.html
sToRE oF VAluE

be dumber, try.
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Old 10-11-2018, 11:04 PM   #30749
Dutch101
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Re: Bitcoins - digital currency

Bitfinex not accepting fiat deposits and thether trending down. We could be in for a couple of wild swings.
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Old 10-11-2018, 11:35 PM   #30750
RT
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Re: Bitcoins - digital currency

Quote:
Originally Posted by synth_floyd View Post

And tether which is supposed to be the stable coin backed by real dollars that underpins the entire online trading ecosystem for cryptos is trading at around .98 on multiple exchanges. Not a good sign. https://cryptowat.ch/assets/usdt
Quote:
Originally Posted by Dutch101 View Post
Bitfinex not accepting fiat deposits and thether trending down. We could be in for a couple of wild swings.
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