Bitcoin?

Alphabet

Zero's Secretary
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Starting on 01/15, to all of the BTC owners, don’t forget to pay your taxes on capital gains (20%). :mr_t:
 

NeoSneth

Ned's Ninja Academy Dropout
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There is no profit in mining. I was running a house filled with miners back in 2016/17.

The house was empty because of the noise, we also had to build exhaust systems for the heat.

Profit was amazing for 6 months. Then the difficulty rose like a bitch. The same miners that were making 100+ a day sunk to 16 bucks, then only a dollar or two.

In the end we couldn't sell the miners we had, and bitmain was doing some shady bullshit with pre-orders.

You could buy 10 miners from them, and then they would run them for weeks and ship when the difficulty rose.

Funny enough, I just sold all my old miners for more than I paid for them. bunch of old Antminer S9's. I think this buzz has people curious.

I looked at firing them back up as I have access to power, but the minimum payout at slushpool is 0.1 BTC. That would take years without a new rig.
 
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redfield0009

Sieger's Squire
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If you bought in 2013 you should be stinking rich by now, congratulations!

If you’re not stinking rich, then we probably shouldn’t take your advice!

If you want to buy in at 40k go for it. I sold my stack in 17 and sat on the money until December of 19 when the bottom finally hit and bought into Eth.

I've seen BTC go from 200 dollars to 20k, down to 3500. It absolutely will crash again.

Funny enough, I just sold all my old miners for more than I paid for them. bunch of old Antminer S9's. I think this buzz has people curious.

I looked at firing them back up as I have access to power, but the minimum payout at slushpool is 0.1 BTC. That would take years without a new rig.

I think ours were L2+ rigs, I need to dig them out and see if any noobs might be interested.
 

evil wasabi

The Jongmaster
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If you want to buy in at 40k go for it. I sold my stack in 17 and sat on the money until December of 19 when the bottom finally hit and bought into Eth.

I've seen BTC go from 200 dollars to 20k, down to 3500. It absolutely will crash again.



I think ours were L2+ rigs, I need to dig them out and see if any noobs might be interested.

How do you factor in states that have been buying up the supply, namely China? Feels like the support level is a lot higher. A big Bitcoin crash is a dream, but a big market crash in the near future isn’t. If the market crashes and Bitcoin stands stable, people are going to buy it up and the value will increase.
 

theMot

Reformed collector of junk
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How do you factor in states that have been buying up the supply, namely China? Feels like the support level is a lot higher. A big Bitcoin crash is a dream, but a big market crash in the near future isn’t. If the market crashes and Bitcoin stands stable, people are going to buy it up and the value will increase.

If the stock market crashes there will be a big sell off in bitcoin. Companies and people need money to settle debts incurred and that’s where they will get it. It’s the same reason why luxury property takes a huge hit in downturns.
 

theMot

Reformed collector of junk
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If you want to buy in at 40k go for it. I sold my stack in 17 and sat on the money until December of 19 when the bottom finally hit and bought into Eth.

I've seen BTC go from 200 dollars to 20k, down to 3500. It absolutely will crash again.
.

What is it you like about Eth? It took me a while to come around to Bitcoin as a store of value but everything else I’m not confident with yet. Seems like a lot of people selling the sizzle but the sausage is shit. Reminds me a lot of the early internet days, so many projects promised so much and came to naught.
 

evil wasabi

The Jongmaster
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If the stock market crashes there will be a big sell off in bitcoin. Companies and people need money to settle debts incurred and that’s where they will get it. It’s the same reason why luxury property takes a huge hit in downturns.

Retail holders will do that for sure. But how much is retail now? The state institutions won’t need to sell. They can hold and control the value, and as they accumulate more, they will be able to dictate value.
 

redfield0009

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What is it you like about Eth? It took me a while to come around to Bitcoin as a store of value but everything else I’m not confident with yet. Seems like a lot of people selling the sizzle but the sausage is shit. Reminds me a lot of the early internet days, so many projects promised so much and came to naught.

I personally don't like ETH. However it's fast when sending from exchange/ledger, which I can't say about BTC. I bought based on bullshit AHT numbers and 79 a coin was too damn tempting. I'm going to watch how things go over the next 48 hours and possibly covert my coins into XLM.

I don't think investing in ETH is wise either, not at these prices. I fully expect BTC to test 30k and drag everything down with it. If BTC doesn't have support at 30k then down to 25k and so on.

XLM is going to be part of the great reset and I'm optimistic about the price once a few more countries jump on the platform for digital currency, so that's got my attention at the moment.
 

evil wasabi

The Jongmaster
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I personally don't like ETH. However it's fast when sending from exchange/ledger, which I can't say about BTC. I bought based on bullshit AHT numbers and 79 a coin was too damn tempting. I'm going to watch how things go over the next 48 hours and possibly covert my coins into XLM.

I don't think investing in ETH is wise either, not at these prices. I fully expect BTC to test 30k and drag everything down with it. If BTC doesn't have support at 30k then down to 25k and so on.

XLM is going to be part of the great reset and I'm optimistic about the price once a few more countries jump on the platform for digital currency, so that's got my attention at the moment.

Why not just have another coin appear, over and over, as the biggest coins get coopted by states? When will the Satoshi vision be realized?
 

redfield0009

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Why not just have another coin appear, over and over, as the biggest coins get coopted by states? When will the Satoshi vision be realized?

It will only be realized when there is adoption at a user level. But who is the user? With BTC you can't do shit with it. It takes hours to send from a wallet, and has expensive fees. Your wife can't use it to buy a cup of coffee, but the wealthy can use it to turn millions into even more millions and rinse and repeat.

I don't think his vision involved IPO exit scams, bitconnect ponzi schemes, futures, pump and dumps and industrial money, yet here we are.

All the problems that BTC was meant to solve just became part of the cryptoshere and 11 years after BTC came out, it's just "digital gold" and completely useless as an actual coin.
 

basic

back to basics
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If the stock market crashes there will be a big sell off in bitcoin. Companies and people need money to settle debts incurred and that’s where they will get it. It’s the same reason why luxury property takes a huge hit in downturns.

this has been true so far. people have not been treating bitcoin and the overall crypto market as a hedge against the stock market.
 

basic

back to basics
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What is it you like about Eth? It took me a while to come around to Bitcoin as a store of value but everything else I’m not confident with yet. Seems like a lot of people selling the sizzle but the sausage is shit. Reminds me a lot of the early internet days, so many projects promised so much and came to naught.

Ethereum is larger in scope than Bitcoin's stated goals are. To put it simply, it's trying to be the backbone of blockchain-based distributed applications and offers smart contracts that are currently missing in Bitcoin. There is definitely a lot of horseshit out there and it's running into similar scaling and fee issues as Bitcoin to realistically achieve any of these goals. But, like Bitcoin it has first mover's advantage in this use case and a lot of investment (even if the majority of apps are shit or premature to the market) have been made by app developers. So it will take something significant to overtake Ethereum. If Ethereum 2.0's proof-of-stake and sharding approaches fail...then the outlook is gloomy. I am still not convinced of the current oracle solutions for smart contracts. I am in Eth too...but less optimistic about it than Bitcoin.
 
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theMot

Reformed collector of junk
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Ethereum is larger in scope than Bitcoin's stated goals are. To put it simply, it's trying to be the backbone of blockchain-based distributed applications and offers smart contracts that are currently missing in Bitcoin. There is definitely a lot of horseshit out there and it's running into similar scaling and fee issues as Bitcoin to realistically achieve any of these goals. But, like Bitcoin it has first mover's advantage in this use case and a lot of investment (even if the majority of apps are shit or premature to the market) have been made by app developers. So it will take something significant to overtake Ethereum. If Ethereum 2.0's proof-of-stake and sharding approaches fail...then the outlook is gloomy. I am still not convinced of the current oracle solutions for smart contracts. I am in Eth too...but less optimistic about it than Bitcoin.

I’ve read up a lot on smart contracts. I can’t get my head around how any of that will be a better solution than just having centralised authorities like we have now. Seems like a millennial fantasy.
 
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basic

back to basics
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I’ve read up a lot on smart contracts. I can’t get my head around how any of that will be a better solution than just having centralised authorities like we have now. Seems like a millennial fantasy.

boiled down, it's just taking the trustless aspects of bitcoin transactions and applying it to smart contracts. i don't think it's going to be as big as some think it's going to be but i think there are some use cases. right now it is only really being used for defi stuff, which is like 99% bullshit. the oracle problem/solution for smart contracts should make decentralization purists skeptical as well.
 

racecar

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1.9 trillion stimulus package .... will probably add fuel to bitcoin run .
 

evil wasabi

The Jongmaster
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Most buyers don’t want to buy fractional shares or fractional anything, so I don’t know if the stimulus will go to btc at all. Maybe to GBTC.

But of course any upward wealth that is siphoned by rich republican cunts like Loeffler and her husband at Intercontinental is probably going to the premium items like btc.
 

racecar

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I personally don't like ETH. However it's fast when sending from exchange/ledger, which I can't say about BTC. I bought based on bullshit AHT numbers and 79 a coin was too damn tempting. I'm going to watch how things go over the next 48 hours and possibly covert my coins into XLM.

I don't think investing in ETH is wise either, not at these prices. I fully expect BTC to test 30k and drag everything down with it. If BTC doesn't have support at 30k then down to 25k and so on.

XLM is going to be part of the great reset and I'm optimistic about the price once a few more countries jump on the platform for digital currency, so that's got my attention at the moment.
Below the $30k level
 

MetalSludge

Armored Scrum Object
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Just interesting to see a real discussion on here on this topic. In every other forum I'm on, it's just people being reactionary and screaming about how all crypto is evil or something. A lot of average consumers are evidently still very negative towards crypto. These are still early days.
 

neogeostore

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Just interesting to see a real discussion on here on this topic. In every other forum I'm on, it's just people being reactionary and screaming about how all crypto is evil or something. A lot of average consumers are evidently still very negative towards crypto. These are still early days.

Yeah, still early. I really don't understand blockchain or DeFi, but I have invested in bitcoin and have done very well so far. I've spent money on far dumber things, so going along for the ride with BTC actually seems smart to me, lol.
 

Rasubosu

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Yeah, still early. I really don't understand blockchain or DeFi, but I have invested in bitcoin and have done very well so far. I've spent money on far dumber things, so going along for the ride with BTC actually seems smart to me, lol.

I did the math, with the amount of money I've put into just Neo Geo alone in 1 year compared to how much prices have gone up with crypto if I had put the same amount of money into Bitcoin in that same year I would have gone about 10X and could have bought every single game plus others while making more money. I know, dumb way to think about it because hindsight yada yada. Puts things into perspective though since I've been buying and selling Bitcoin and altcoins since before Bitcoin broke $700 and while I knew someday it would get to this point I just kept buying more game stuff that's just been sitting on my shelf collecting dust.
 

racecar

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I did the math, with the amount of money I've put into just Neo Geo alone in 1 year compared to how much prices have gone up with crypto if I had put the same amount of money into Bitcoin in that same year I would have gone about 10X and could have bought every single game plus others while making more money. I know, dumb way to think about it because hindsight yada yada. Puts things into perspective though since I've been buying and selling Bitcoin and altcoins since before Bitcoin broke $700 and while I knew someday it would get to this point I just kept buying more game stuff that's just been sitting on my shelf collecting dust.

dont feel bad .... just think of the bitcoin pizza guy
 
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