There he is. That train is never late.

its pretty straightforward - a broadly distributed fully decentralised ledger solution underpinned by tokenised smart-contract blockchain technology and based on the proof of work (PoW) concept

the smartest people in the world are developing in this space, eg the lightning network drops early 2019 and the BUKAKKE white paper is out now. the whole sphere is a paradigm shifter

my advice would be to buy the dip

donate
ETH 0934867394-348963-450982
BTC 230gj34--ge023905u7-7y875b6567
LTC 340985704398u6jthoewri
BCH 2349580-12340192734198-dksau238

Regarding #2, this seems like really lazy analysis on price.

The last time the price dropped this much off highs %wise was after the Mt Gox fiasco, market cap was a fraction of what it is now, and it took several years to breakeven from the top after that.

Additionally, the chart I’m using (from coin market cap) has only the incident above in their charts of it dropping that much. It goes back to early 2013, and I don’t think earlier incidents would be relevant/comparable at all to the current price drop. Per wiki -

“In April, payment processors BitInstant and Mt. Gox experienced processing delays due to insufficient capacity[63] resulting in the bitcoin exchange rate dropping from $266 to $76 before returning to $160 within six hours”

Certainly that wouldn’t be comparable to nearly a year of bleeding from a peak of $19kish or so. Additionally, shorting bitcoin (which is fairly expensive with high margin requirements, iirc) wasn’t available during the Mt Gox decline or any other historical declines.

The 1200 to 200 drop is pretty comparable, people were similarly laughing then with the same lack of reasonings and even if you had no sell orders or a policy to keep a relatively static % of net worth in it you're up 20x from 200 despite it's omg crash to worthlessness.

Lol the finance frat bro haters though who refuse to make piles of money off their certainties, it's almost like they're just mad haters

Yeah, 1200 to 200 is the closest comparable drop (that’s 1 decline btw - not 5x). But again, it took several years to revisit the top from there; and it was caused by the leading BTC processor shutting down and being a ponzi. Would be the equivalent of like Coinbase and Gemini shutting down or something now. Maybe even more.

Bitcoin is (or at least was) also insanely expensive to short. I was looking earlier this year and it was like 5x margin requirement. So shorting a single bitcoin at $15k would’ve required $75k in collateral. Maybe some more options have come out now and with the huge decline in price it’s gotten cheaper to short. But it’s also not as attractive after a 75% decline or whatever.

Regarding your last point, sure, if you bought btc at 200 in 2015 or whatever and have just held and done nothing else, you’ve done extremely well. Anecdotally, that isn’t realistic. Most investors probably took profits at some points on the way up - triggering massive capital gains (assuming crypto investors aren’t committing tax fraud) and re-allocating exposure into eth/ltc/xrp and other altcoins which have done even worse than btc. Additionally, most bitcoin stans have been buying the dips all the way down this year. It’s been a SICK BUY all year. The guy who bought btc at 200 and held, never adding to his position or selling or investing in other ****coins would be a massive outlier. Trimming to keep a % in net worth would’ve massively cut into that hypothetical 20x return too.

You're right. A lot of people who bought at 200 made a lot more than 20x

I’m sure a couple did. Most have gotten completely hammered this year though and would have a huge tax bill even if they trimmed exposure a lot at the top. The “but we’re still up a ton!” argument is running out of gas at this point. Pretty much anyone that’s gotten involved in the last 18 months has lost money. Anyone that got involved in the last year has gotten killed. Most early investors have been pumping crypto and holding/buying dips all the way down. The super early on guys have still done great overall obviously but even the majority of those guys must have raised their overall btc cost basis a ton. I guess the altcoin scammers have also done well on the backs of total suckers.

one of our genius OMB clients bought a load of bitcoin when it was ~$500 through their business and randomly decided to transfer them into his own name during the peak without bothering to tell us or inquiring as to the implications

immediate corp tax bill on the gain (~20%), personal income tax bill ~(40%) on the gross value of the coins cos of the ham-fisted extraction method, and no easily exploitable value on the drop (if he sells now he'd have a massive personal capital gains loss which could be used to offset future gains, but he cant do anything with it cos of the way his affairs are structured)

dude's underwater despite x9-ing

paid us on time tho

I mean, if you can't see how the coin one gets for lending their computing power to help run a massive decentralized ledger of financial transactions isn't insanely valuable then you're just hopeless.

The technology is akin to the car or computers in terms of how important it is.

Also no one was sitting here arguing with Thayer that it was a terrible buy when it was worth $200 per coin so that's a massive goalpost shift.

99% of the discussion that took place itt was when it was already like >3k

Mullen, why are you assuming they’re paying taxes as legally obligated? Most of the btc bros unabashedly tout one of the benefits of btc to be the avoidance of taxes.

Using btc for avoidance of taxes is a hilariously bad idea. It's literally a publicly recorded ledger that can't be altered

That's not what btc is

Thayer,

Since it's been like an entire year and I still don't comprehend the value of this glorious decentralized publicly recorded ledger that can't be altered (GDPRLTCBA) maybe you can help me.

I realized some short term capital gains trading Ethereum earlier in the year. In April I will have to provide a record of those transactions to my accountant when I file my taxes.

Can you guide me on how i can pull up the handy ol GDPRLTCBA and find them?

Tia

Reading btw the lines, now is a great time to BUY

Wait, people actual discuss this nonsense in the FAQ and you guys tolerate it?

Jesus Christ things have gone down hill. Anyone want to buy some Essential Oils or get a free Physic Reading while we're at it?

That PUBLIC LEDGER is really a huge help to the thousands of BTC people had on exchanges that got hacked

man, reading the chat feature on Robinhood’s btc chart is.....interesting. sorta like looking at zoo animals and occasionally tossing the seals a fish when they bark loud enough.

But the BLOCKCHAIN!

****ing morons

Happy Thanksgiving to everyone who agrees that stuffing is the best side dish. **** everyone else

I'll probably agree - stuffing GOAT.

With that said, how about gravy as an honourable mention? It often gets overlooked, as a result, no love....but think about it; it makes Turkey edible! Turkey FFS! The correct homemade gravy can be game changing!

Stuffing GOAT is right

Just stole a bite. Mom asking me to spoon the stuffing out of both ends of the 21 lb bird

BLACK FRIDAY!

Any good deals on Amazon to look out for? I didn't see the OOT thread pop up this year (unless I skipped over it).

60% of today's calories were just stuffing

zero regrets