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The Currency Revolution - With Bitcoin

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1 hour ago, ☽Ţ ҉ĥϋηϠ₡яღ☯ॐ€ðяئॐ♡Pϟiℓℴϟℴ said:

thanks for your honesty guys but still feel excited about having a little contraption .. maybe i'm still needing to shed some in-build consumerism over a shiny little piece of metal that lights up ?

 

for example, I might go and get a bit of gold and some silver and some neodymium magnets and some titanium if I can get it .. maybe a raw diamond .. maybe a trilobite might find it's way in to have and to hold.

 

 

 

 

Fuck diamonds!   Otherwise i agree!

 

Platinum is pretty cheap although you missed the bottom now.

 

Its very interesting what youre saying though horse.  It reminds me the way bitcoin is often depicted as some sort of gold coin.

 

Cryptos do not exist in that sense, which is hard coming to terms with.  To put simply i guess, incorporeal rarity - rarefied information rather than substance.

Edited by ThunderIdeal
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40 minutes ago, MeanGreen said:

Well good for you anyway Horsey, that expense will quickly be covered by the profits you'll make. Especially if we keep going at that rate.

oooh i like the sound of that , I haven't seen profits before but they already sound like they would feel great.

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16 minutes ago, ThunderIdeal said:

 

Fuck diamonds!   Otherwise i agree!

 

Platinum is pretty cheap although you missed the bottom now.

 

Its very interesting what youre saying though horse.  It reminds me the way bitcoin is often depicted as some sort of gold coin.

 

Cryptos do not exist in that sense, which is hard coming to terms with.  To put simply i guess, incorporeal rarity - rarefied information rather than substance.

i mean for the have and to hold part , the value to yaself .. or your kids, .. minecraft cause my kids to want gold silver and acacia :) already had cactus .. just for some reason it irked my mum at the time and maybe she didnt like that sorta power being in the hands of her presumed subjects? .. not that we wanted it for anything other than to say look ive got a piece of gold , and the other one say yeah so have I .. ya know so they actually at least know what the fuck it is and maybe it has some healing properties .. works on eye styes for me anyways ..

 

not really appreciating the value of money since it's not something I really had much of before but I'm sure feeling a bit better after a court win against the govt and them coughing up a paypack from the last few years..

 

 

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my nerve broke today and I sold half my crypto's.  I had an inkling to do it earlier this week and once you have that urge, it's very hard to put it out of your mind.  I felt a tiny bit sick this morning when I woke up and saw how much they had fallen - thankfully it made up some during the day. now at least I feel like i'm having an each way bet

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Don't tell me that @SayN as im about to buy my first coins lol.

 

Where is everyone in Australia buying theirs i am going to buy at btcmarkets.net 

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I hope everyone sold yesterday, it's gonna be a rough weekend.

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It's gone bananas today.  $22,000!!!  Oh, and @87_botanist - yes btcmarkets are fine.

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“There is an unfathomable amount of new participants piling into the cryptocurrency market. It’s basic Economics 101, with such strong demand and limited supply, there’s only one way this can go. Exchanges are reporting that there are mountains of applicants waiting on verification documents and deposits.

“Once these funds hit the market, what do you think the price will do? This is nothing like I have ever seen before. I have never seen so much greed and fear of missing out.”

 

Ponderous indeed.

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Blockchain adoption is coming, brace yourselves. Hold on to your alt bags, they will recover.

 

Big Bang Theory made an episode about bitcoin where the protagonists realize the bitcoind they bought years ago and forgot about is worth a lot. 

Crypto kitties are making a killing. 

There's rumors Apple might be buying $EMC2 which would be their announcement on the 19th.

Jamie Dimon from JP Morgan Chase finally admitted bitcoin was akin to gold after bashing it several times in the past.

 

The list goes on and on... 

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This will cause a major global depression if left unchecked. Like we haven't seen since the 20's.

 

The price has risen $3k in the last 24 hours.... this is assumed value. When people turn around and say "nah man, you can't have my house for your code... it could be worth nothing tomorrow." the illusion will crumble.

 

The correction is going to be shocking and deep reaching now financial markets are starting to back it.

 

I just wish I had bought more.

Edited by Northerner

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I seriously doubt any sizeable correction is going to happen soon, unless some huge bad news strike.

 

The "your coins could be worth nothing tomorrow" argument is bs. Even with the China fud it only took a few months for the market to hit new highs. Same with Mt. Gox. And these were not just waves of fud of people realizing the market is volatile, these were actual huge threats to the bitcoin network.

 

Never try to short btc is all I will say, I hope you didn't sell your btc when you posted about the "rough weekend" ahead.

 

Like you quoted, with so much new people and institutional money coming in the space, it increases demand so the only way is up.

 

I mean, are we in a bubble? Most likely, but didn't some of the earliest companies of the dotcom bubble pull through it and actually changed the world? (amazon, google...) And aren't their current valuation way over what it was during the bubble?

 

I think bitcoin and eth are here to stay, and I think the current valuation of bitcoin is still far under what it could be in a few years when the hype is over and markets become less volatile.

Edited by MeanGreen
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The"will you trade me your house for my code" logic is still valid though, the other part of the idea. These dissonances belong together. If the answer is no to this question the dog will eat itself. Assumed value fails.

 

Other monsters of the dot com bubble (think Yahoo and Jeeves) are worth nothing comparatively today also. Google and Amazon never reached their heady highs during the 90's, it has been their persistent innovation and deliberate cornering of markets that has made them what they are, not a gold rush.

 

I also agree they are here to stay, but to what level? Can you imagine your pay in anonymous bitcoin? Not a chance, over the Federal Reserve's dead body... it's always going to be a traders tool.

 

Are people going to be willing to pay the premium for decentralization and anonymity? Only if they are hiding something. Tax is a biatch. But say it does take hold... who's going to pay the tax to keep society being society?

 

Yeah I did sell but I bought back in... I'm not immune to the frenzy, but I can see the reality too.

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Of course bitcoin will remain a trader's commodity, like gold is. But I definitely could see a future where you are paid in crypto at your job, in fact Russia and Venezuela both announced their plans to issue cryptocurrencies backed by their oil and gold reserves, and most likely not anonymous of course (bitcoin is far from being anonymous though).

 

Think about it, most of your money is already virtual, you check your bank account on the internet, you are paid directly to your bank account, you pay with a credit card. To the average people it wouldn't make a difference at all, they wouldn't even have to know if the inner workings of their banking system relies on blockchain or not. The only difference is there would be no need for banks, as there is no cash to keep in safes.

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Everyone is sick of the banks pervasive and ever growing greed and corruption, but there does have to be some sort of personalised ledger. Otherwise everyone will just declare 0 taxable.

 

We can be fairly sure that sovereign issued cryptos won't be virtually untraceable, there's going to be a clear start and endpoint. Good on em... banks will only have power to lend, not rob people just for living.

 

I can imagine the bribes that will be flung to try and prevent this when Australia does the same thing.

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Still no slowing down, 17k usd on coinbase and 21.3k usd in south korea!

Altcoins are bleeding bad though... I'm holding a few bags but thankfully I was only 75% in alts before the bull run.

Could be a good time to buy some alts though, $OMG, $ADX, $WAVES, $STEEM, $XEM, $QTUM, $EMC2 are in a good entry zone right now to name a few.

Edited by MeanGreen
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Coinjar is telling me 25.7k per coin buy price, 25.2k sell price...

I could of chucked a few hungie in a few days ago and would of made some... Annoying...

How long is thing terrifying skyrocketing climb going continue? its been CONSTANTLY going up for a month steady now.

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^ Thats up like $3k AUD since i went to bed last night... and I'm still hesitating to throw $170 at it... LOL

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17 hours ago, Northerner said:

Everyone is sick of the banks pervasive and ever growing greed and corruption, but there does have to be some sort of personalised ledger. Otherwise everyone will just declare 0 taxable.

 

We can be fairly sure that sovereign issued cryptos won't be virtually untraceable, there's going to be a clear start and endpoint. Good on em... banks will only have power to lend, not rob people just for living.

 

I can imagine the bribes that will be flung to try and prevent this when Australia does the same thing.

why do they need any tax? isnt that simply protection money? they should get thrown on some thumb tacks off a top rope methinketh ..or some other A-tax -for ten times the duration that there has been tax in existance ya know like interest :)

Edited by ☽Ţ ҉ĥϋηϠ₡яღ☯ॐ€ðяئॐ♡Pϟiℓℴϟℴ

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Just made x2 on $XEM, feels good man :)

Called it in my post yesterday too. This coin is going to the moon and beyond within the next few months, I'm gonna hold some when I find a good re-entry.

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On 12/8/2017 at 9:56 AM, Skellum said:

Coinjar is telling me 25.7k per coin buy price, 25.2k sell price...

 

I could of chucked a few hungie in a few days ago and would of made some... Annoying...

 

How long is thing terrifying skyrocketing climb going continue? its been CONSTANTLY going up for a month steady now.

Now trading at $20.1k with lows of 17.7 in the last day.

 

If a bubble pops in the ocean does anyone hear it scream?

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I wouldn't call that a bubble popping, that sets us back what, 5 days of price action if that. A week ago we thought $10k was crazy.

Tomorrow should be interesting though with bitcoin futures launching, I'll be keeping my eyes on btc/usdt.

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Bitcoin estimated to be at half a million USD per coin by 2020.

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When faced with a bubble people don't want to believe it. fear and greed are great drivers. Naysayers are yelled down and optimistic projections are held up in the light for all to see. History repeats.

 

15 minutes ago, MeanGreen said:

I wouldn't call that a bubble popping, that sets us back what, 5 days of price action if that. A week ago we thought $10k was crazy.

Tomorrow should be interesting though with bitcoin futures launching, I'll be keeping my eyes on btc/usdt.

I don't know if it's popping either as it's too soon to tell, but it really wouldn't surprise me if it follows the same staggered descent of the holiday season and into the new year as in 2013/14.

 

There's scalability and energy issues with Bitcoin that cannot be overcome which are finally being reported in mainstream media. Not to mention massive control by anonymous people. Just 2 people, if they got together, could pump and dump the whole market in a week and walk away with everyone's money. The problem with an unregulated market is that it's unregulated (duh), and when the vast majority of the coins are owned by a handful of people who can do whatever they want... I don't have to explain the inherent risks. People could be left wondering if putting their money in something that is unregulated was such a brilliant idea after all.  :unsure:

 

Hopefully not too many buy into the futures and check out what this bitcoin really is, or it could take big chunks of the existing markets with it if it evaporates.

 

But yes... I'll be watching very closely too. :wink:

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I definitely agree with you but honestly I think what we're seeing now is a simple case of "buy the rumour sell the news" because of the futures. But I'll also agree that I'm biased and don't want to be pessimistic haha.

 

Either way if we don't sleep through tomorrow we should all be fine.

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I've thought the bubble was gonna pop for the last three years.  Ever since SR went down.  Besides a few holes here and there it's never really deflated much imo.  if it can hang in there for a bit longer all this press is only bringing more FOMO to the table.

 

I'm in for the long haul now anyway.  Selling half my stocks a couple of weeks when the market had well and truly doubled has removed all stress from the situation now and I no longer check the market like... every 5 minutes.

 

Its a far better gamble than horses or lottery  and i'm getting a buzz every day when I do check (for now).

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