Time to read more and post less, for a bit.

If you think the complete inability for ~70% (more?) of the population to understand how it works is a laughably low barrier then I would respectfully disagree. Most people can't even wrap their heads around compound interest.

congrats everyone

use proper opsec please

Congrats mutha ****as. that 10,000 looks just soo ****ing sweet. It also makes me realize 100,000 isn't that unreasonable. HODL

this is a disgustingly simple product to analyze. supply is fixed and demand will increase. ITs absolutely pointless to debate how widely its used or how relevant it is and for what purpose....when the magnitude of money that institutional investors dump could make this run 1000 times higher. there is limited supply and it cant handle the demand that is coming. its going to go absolutely batchit crazy

What is bitcoins demand, right now, outside of people wanting 1000% returns on their currency of choice?

I guess everyone is just going to get rich as ****. Nothing to even think about. We are all already rich!

1000 times isnt a typo. if there is an etf 1000 times in 1 year is outrageous...but possible. then sitting around talking in a whiny nasally voice lamenting "i dont think its better" is fairly pointless.

more tomorrow than today, because there will be more users and big money hitting a market that cant take it

the eventual return on bitcoin is probably 6%. at that point money shifts to other places with better retruns. but right now there is no better return than this market so money will flow in heavily. it will flatten to 6% or something like that but it may take 20 years for that to happen

Sometime, in 2015 I think but I could misremember, Toothsayer triggered some good discussion about what sort of demand that was needed to prop up the price at $200, when the miners dumped all their mining rewards to pay their bills. That gave a pretty good price floor for the usage at the time, and the dedicated investors. The general sentiment was very low, so no bubble money there. Everyone that wanted to sell had sold, and everyone that wanted to buy had bought.

If you have some grasp on how big the usage was then, you might be able to roughly calculate it from there. Many factors have changed, but I think that is your best bet for the kind of estimation you're looking for.

Orly?

This is the vendor that was caught through blockchain analysis.

https://www.deepdotweb.com/2017/09/2...or-oxymonster/

Other vendors were caught from information obtained from his hard drive. Not from blockchain analysis, but from good ol' fashioned detective work.

There is no evidence, and no rumours from what I've heard, that any of the other shutdowns were obtained from blockchain analysis, considering such a thing is not possible anyway.

Wall Street market had its IP exposed during a DDOS attack.

https://www.reddit.com/r/TradeRouteM...fa&sh=50a14ffa

Similar to how the original silk road has its server IP exposed during a DDOS attack. If you disagree with the running conclusions of pretty much everyone that pays attention this stuff perhaps you could point to some evidence for your claims of rumors that tor websites were brought down by blockchain analysis (lol).




Which is why I'm asking what it is? I know you can't answer it, but keep attempting to evade the question lol.

I've used it a number of times. It sucks, quite frankly. It cost me roughly 15% to obtain it through an ATM, and another couple of bucks to get the transaction through. If I wanted to sell it, it would cost me another 15%, because that's how ATM owners make money. I could use an exchange, perhaps, but I don't live in a country that allows exchange.

But it's not p2p, though, unless of course you're insinuating everyone runs a bitcoin node?

Right, but if it has no utility as the thing it was designed to do namely, act as a currency, then its absolutely worthless! Unless of course there are plans on altering it to do things other than act as a medium of exchange?

Personally I believe there is utility in it: buy drugs on the darknet.

Demand for what? If it carries no extra utility over other forms of well established currency why would anyone want it? The only reason I can see that anyone wants it is they believe it will increase in value. Yet inherently within this belief is that one day it will be widely used as a currency. If it's not ever widely used as a currency, then its worth as much as people use it, and when the critical investment peak hits and there are more people wanting out than wanting in, the whole thing collapses.

This facile understanding of 1st year economics doesn't bear out under close analysis. I take a limited number of dumps in my life but flushing each one doesn't make the next one any more valuable, does it?

Then it's a stupid investment. Good ETFs carry, historically, about 7% ROI, with almost no risk.

Store of Value

Piepounders you're out of your phucking mind if you think Institutional investors line up to buy assets at ATHighs.

Everytime Bitcoin "Moons" it's like a 10% spazz above a psychological, ATH, barrier and then the market corrects...punishing FOMO, weak-handed, retail investors.

"We simply attempt to be fearful when others are fearful and to be greedy only when others are greedy." -- Barron Muffett

my friend just sent me this.


is it true?

https://www.economist.com/blogs/free...onomic-history

You seem very susceptible to rationalizations

For those who have been in Bitcoin for years...
Is now the most optimistic/euphoric you've ever seen the market?

Euphoric? Yes, it just hit 10k, it's pretty cool.

Optimistic? Not sure, everyone on my twitter feed seems to be saying some variation of 'take some profits!'

they dont have to line up.....if access increases then demand increases. they dont have to be swinging around on some sort of bitcoin nutsack. demand is more tomorrow than today.


the concept of ath is completely meaningless when the asset has no cash flow. there are several mistakes people make. one is to treat this like a company...that it has some sort of linear trend that grows over time. wrong and disasterously wrong. Its not a company. and if supply hits this market....even if its limp dicked supply it goes up.

so you can sit around and say i dont think institutoins will want it that much. but it doesnt matter. if there ismore access more people will come in long than short. the pent up demand..we dont even know. it might be massive

The use of the word reckon throughout really irks me.

Definitely most euphoric. The optimism is probably at an all time high, but there has been an insane level of optimism since the first spike 4 years ago.

not even going to read it. just use a jeff bridges voice...with a dft punk background...a system of nodes each tied to each other with greater complexity than you can imagine...what does it look like? then he got in

this is wild holy ****

Didn't start buying bitcoin until the beginning of October, when the price was around $4.6k. Decided to sell today, after it reached $10k!

Anybody else do some profit-taking tonight?


What a wild ride - it's been a blast!

big fat emphatic no.

Have had investments go not well before, so the time to sell was right for me - each person will be different though, so for sure am wishing everybody the best! GL GL!!