I'm Touring The United States! Starting in June, I'm conducting private events in 23 American cities. Click here for full details.

Post Reply 
The Bitcoin (BTC) thread
Author Message
Pinocchio Offline
Chubby Chaser
**

Posts: 383
Joined: Jun 2013
Reputation: 1
Post: #8176
RE: The Bitcoin (BTC) thread
(06-30-2019 09:45 PM)redbeard Wrote:  JJG and I are both big fans of dollar cost averaging into Bitcoin...however I do recognize that it's easier than done.

Where do you buy?
How much?
How often?


...are common excuses for not DCA'ing.

Over the weekend a buddy asked me an optimal DCA strategy, so I did some research and found some interesting findings about DCA'ing.

1. Coinbase and Gemini both offer automatic investing.

2. Both exchanges have similar fees. Here's Coinbase and Gemini's fee schedules.

Quote: If the total transaction amount is less than or equal to $10, the fee is $0.99.
If the total transaction amount is more than $10 but less than or equal to $25, the fee is $1.49.
If the total transaction amount is more than $25 but less than or equal to $50, the fee is $1.99.
If the total transaction amount is more than $50 but less than or equal to $200, the fee is $2.99.

$1 is 10% of $10, $2 is 4% of $50... meanwhile $3 is 1.5% of $200. You save on fees bigly by buying above $200. That percent might not seem like a lot, but it adds up over time.

3. Doing some back of the envelope testing on dcabtc.com, it seems monthly purchases have fared better than weekly. (Testing $197 monthly vs $48 weekly)

Based on the facts above, the best strategy seems to be monthly purchases of at least $200.

Use Coinbase Pro not Coinbase and put limit orders in. $200 limit order would be $0.30 in fees.
07-01-2019 12:05 PM
Find all posts by this user Like Post Quote this message in a reply
[-] The following 1 user Likes Pinocchio's post:
JayJuanGee
Giacomo Casanova Away
Chubby Chaser
**

Posts: 593
Joined: Sep 2013
Reputation: 20
Post: #8177
RE: The Bitcoin (BTC) thread
Marvelous podcast of Plan₿ with Stephen Livera:
https://stephanlivera.com/episode/86
07-05-2019 02:16 PM
Find all posts by this user Like Post Quote this message in a reply
[-] The following 1 user Likes Giacomo Casanova's post:
JayJuanGee
redbeard Offline
True Player
*****
Gold Member

Posts: 2,863
Joined: Jan 2014
Reputation: 71
Post: #8178
RE: The Bitcoin (BTC) thread
@Pinocchio yes the Coinbase Pro technique is great, but for some of us the time (and energy!) saving aspect of automatic purchases is well worth the $2.69.

If buying BTC becomes a chore, it’s more likely you’ll forget to purchase, or procrastinate on it.

“Set it and forget it”

1 Year NoFap Veteran --- No Days Off in Trump's America
07-05-2019 02:27 PM
Visit this user's website Find all posts by this user Like Post Quote this message in a reply
[-] The following 1 user Likes redbeard's post:
JayJuanGee
fiasco360 Offline
Chubby Chaser
**

Posts: 396
Joined: Feb 2015
Reputation: 6
Post: #8179
RE: The Bitcoin (BTC) thread
(07-05-2019 02:27 PM)redbeard Wrote:  @Pinocchio yes the Coinbase Pro technique is great, but for some of us the time (and energy!) saving aspect of automatic purchases is well worth the $2.69.

If buying BTC becomes a chore, it’s more likely you’ll forget to purchase, or procrastinate on it.

“Set it and forget it”

If you're really trying to pinch on fees - just set a weekly reminder on your phone.

Also if you're tempted to use those nifty cash back cards for purchases - don't.

They will not count them as purchased goods but rather a cash advance. I tested this out recently buying from Binance. So not only do you not get a fixed percentage back for your purchase - you get charged the cash advance fee.
07-05-2019 08:12 PM
Find all posts by this user Like Post Quote this message in a reply
redbeard Offline
True Player
*****
Gold Member

Posts: 2,863
Joined: Jan 2014
Reputation: 71
Post: #8180
RE: The Bitcoin (BTC) thread
There's a ton of value in automatic investing, especially for those who don't want to spend all day staring at the charts.

From "The Psychology of Automation: Building a Bulletproof Personal-Finance System"
-Ramit Sethi guest post on Tim Ferris' blog

Quote:Think about the 50+ money decisions you have to make today: Should you save more? What should you cut down on? What about investing — real estate or stocks or index funds? Pay off debt? Did you send in that Comcast bill on time? Is it time to rebalance your portfolio?

Faced with an overwhelming number of choices, most people respond in the same way: They do nothing. As Barry Schwartz wrote in The Paradox of Choice: Why More is Less,

“…as the number of mutual funds in a 401(k) plan offered to employees goes up, the likelihood that they will choose a fund — any fund — goes down. For every 10 funds added to the array of options, the rate of participation drops 2 percent. And for those who do invest, added fund options increase the chances that employees will invest in ultraconservative money-market funds.”

Why do so many people believe that personal finance is only about willpower? The idea goes like this: “If I just try harder, I’ll start saving more, pay off my debt, stop spending all that money, keep a budget, learn about investing, start investing, rebalance ever year…” Unlikely. In fact, go ask your friends if they’re taking full advantage of their employer’s 401(k) match. The vast majority of people are not — even though it’s literally free money. Their answer? “Yeah…I really should do that…”

The entire article (and Ramit's book) are both excellent reads.

My reason for sharing the $200/month DCA strategy is to help people on the sideline with their decision-making.

Between infinite investing strategies and near infinite shitcoins to choose from, many beginners will benefit from a concise prescription:

-Buy Bitcoin
-$200
-On Coinbase
-Once a month

Done

1 Year NoFap Veteran --- No Days Off in Trump's America
07-05-2019 08:49 PM
Visit this user's website Find all posts by this user Like Post Quote this message in a reply
[-] The following 5 users Like redbeard's post:
JayJuanGee, rungoodinc, Dr. Howard, Tactician, Handsome Creepy Eel
redbeard Offline
True Player
*****
Gold Member

Posts: 2,863
Joined: Jan 2014
Reputation: 71
Post: #8181
RE: The Bitcoin (BTC) thread
Trump Bitcoin tweet Big Grin


1 Year NoFap Veteran --- No Days Off in Trump's America
07-12-2019 06:30 AM
Visit this user's website Find all posts by this user Like Post Quote this message in a reply
[-] The following 2 users Like redbeard's post:
Handsome Creepy Eel, rpg
Dr. Howard Away
International Playboy
******
Gold Member

Posts: 5,993
Joined: Oct 2011
Reputation: 75
Post: #8182
RE: The Bitcoin (BTC) thread
(07-12-2019 06:30 AM)redbeard Wrote:  Trump Bitcoin tweet Big Grin


Notice the slight change though...only "unregulated" crypto assets can facilitate unlawful behavior. It used to just be all crytpo.

The second part of Trump's tweet makes it obvious who is behind the complaining, its the banks.

Its going to get really interesting when its a bankers vs. techopolies vs. Crypto OGs. I think it will be banks and tech trying to be declared the first government sanctioned/regulated crypto while they try to declare OG currencies illegal.

I wish I knew more about the whole silver vs. gold vs. greenbacks currency basis battle from the late 1800s. This almost seems like it. https://en.wikipedia.org/wiki/United_Sta...tates_Note

At one time you could use gold, silver, greenbacks or dollars. Eventually through regulation you couldn't use gold as currency, then no silver, then no greenbacks and only dollars.

Even the 'free silver' posters from back then https://en.wikipedia.org/wiki/Free_silver seem like they echo the for and against arguments of using them as currency today.

Why do the heathen rage and the people imagine a vain thing? Psalm 2:1 KJV
07-12-2019 07:03 AM
Find all posts by this user Like Post Quote this message in a reply
[-] The following 3 users Like Dr. Howard's post:
JayJuanGee, Handsome Creepy Eel, rpg
JayJuanGee Offline
Innovative Casanova
*******
Gold Member

Posts: 6,067
Joined: Aug 2013
Reputation: 77
Post: #8183
RE: The Bitcoin (BTC) thread
(07-12-2019 07:03 AM)Dr. Howard Wrote:  
(07-12-2019 06:30 AM)redbeard Wrote:  Trump Bitcoin tweet Big Grin


Notice the slight change though...only "unregulated" crypto assets can facilitate unlawful behavior. It used to just be all crytpo.

The second part of Trump's tweet makes it obvious who is behind the complaining, its the banks.

Its going to get really interesting when its a bankers vs. techopolies vs. Crypto OGs. I think it will be banks and tech trying to be declared the first government sanctioned/regulated crypto while they try to declare OG currencies illegal.

I wish I knew more about the whole silver vs. gold vs. greenbacks currency basis battle from the late 1800s. This almost seems like it. https://en.wikipedia.org/wiki/United_Sta...tates_Note

At one time you could use gold, silver, greenbacks or dollars. Eventually through regulation you couldn't use gold as currency, then no silver, then no greenbacks and only dollars.

Even the 'free silver' posters from back then https://en.wikipedia.org/wiki/Free_silver seem like they echo the for and against arguments of using them as currency today.

Surely, interesting times ahead, and a bit surprising that Trump's attention to this matter may have been sparked, in part by Facebook's announcement of creating its own coin, but then he relates that to Bitcoin and thereafter to other crypto currencies as well.

So part of the interesting situation will to see how this evolves. For example, the financial committee in congress had sent facebook a kind of cease and desist letter, so it will be interesting to see if any government officials, whether the president, congress, senate or some other officials start to send cease and desist letters to other cryptos, including to bitcoin.

Lots of letters would be going out, and it would be interesting to see to whom such letters would be sent, if such regulation paths were to be pursued.. and thereafter which parts of the regulatory efforts would be effective. Surely there are mixed feelings about a variety of these matters, and even the president's feelings might evolve upon further education .... Of course, our current president believes he is an expert on a lot of matters (which is frequently proven wrong), so figuring out whether he is able to influence bitcoin or other crypto currencies in the direction that he would prefer could take a decent amount of time to play out, and might even result in the opposite of what had been intended.
07-12-2019 12:36 PM
Find all posts by this user Like Post Quote this message in a reply
[-] The following 1 user Likes JayJuanGee's post:
Handsome Creepy Eel
JayJuanGee Offline
Innovative Casanova
*******
Gold Member

Posts: 6,067
Joined: Aug 2013
Reputation: 77
Post: #8184
RE: The Bitcoin (BTC) thread
(07-12-2019 12:36 PM)JayJuanGee Wrote:  
(07-12-2019 07:03 AM)Dr. Howard Wrote:  
(07-12-2019 06:30 AM)redbeard Wrote:  Trump Bitcoin tweet Big Grin


Notice the slight change though...only "unregulated" crypto assets can facilitate unlawful behavior. It used to just be all crytpo.

The second part of Trump's tweet makes it obvious who is behind the complaining, its the banks.

Its going to get really interesting when its a bankers vs. techopolies vs. Crypto OGs. I think it will be banks and tech trying to be declared the first government sanctioned/regulated crypto while they try to declare OG currencies illegal.

I wish I knew more about the whole silver vs. gold vs. greenbacks currency basis battle from the late 1800s. This almost seems like it. https://en.wikipedia.org/wiki/United_Sta...tates_Note

At one time you could use gold, silver, greenbacks or dollars. Eventually through regulation you couldn't use gold as currency, then no silver, then no greenbacks and only dollars.

Even the 'free silver' posters from back then https://en.wikipedia.org/wiki/Free_silver seem like they echo the for and against arguments of using them as currency today.

Surely, interesting times ahead, and a bit surprising that Trump's attention to this matter may have been sparked, in part by Facebook's announcement of creating its own coin, but then he relates that to Bitcoin and thereafter to other crypto currencies as well.

So part of the interesting situation will to see how this evolves. For example, the financial committee in congress had sent facebook a kind of cease and desist letter, so it will be interesting to see if any government officials, whether the president, congress, senate or some other officials start to send cease and desist letters to other cryptos, including to bitcoin.

Lots of letters would be going out, and it would be interesting to see to whom such letters would be sent, if such regulation paths were to be pursued.. and thereafter which parts of the regulatory efforts would be effective. Surely there are mixed feelings about a variety of these matters, and even the president's feelings might evolve upon further education .... Of course, our current president believes he is an expert on a lot of matters (which is frequently proven wrong), so figuring out whether he is able to influence bitcoin or other crypto currencies in the direction that he would prefer could take a decent amount of time to play out, and might even result in the opposite of what had been intended.

Here's a nice little supplemental article regarding a potential reading of both Trump's tweet and the fact that Fed Chair Jerome Powell had also mentioned bitcoin in his testimony in front of congress on the same day.

https://www.ccn.com/news/every-nation-ho...019/07/12/
07-12-2019 04:47 PM
Find all posts by this user Like Post Quote this message in a reply
[-] The following 1 user Likes JayJuanGee's post:
Dr. Howard
Nolimitz Offline
Male Feminist

Posts: 19
Joined: Sep 2018
Reputation: 0
Post: #8185
RE: The Bitcoin (BTC) thread
https://youtu.be/sE7LD1ZsiCU

Here’s a link to Willy Woo calling for BTC retracement to 9k based on NVT.
07-14-2019 01:32 PM
Find all posts by this user Like Post Quote this message in a reply
JayJuanGee Offline
Innovative Casanova
*******
Gold Member

Posts: 6,067
Joined: Aug 2013
Reputation: 77
Post: #8186
RE: The Bitcoin (BTC) thread
(07-14-2019 01:32 PM)Nolimitz Wrote:  https://youtu.be/sE7LD1ZsiCU

Here’s a link to Willy Woo calling for BTC retracement to 9k based on NVT.


What do you think about the prediction? Are you changing your behavior? Do you have a plan that accounts for either the prediction or your views about BTC's short or long term price direction?
07-14-2019 01:40 PM
Find all posts by this user Like Post Quote this message in a reply
Dr. Howard Away
International Playboy
******
Gold Member

Posts: 5,993
Joined: Oct 2011
Reputation: 75
Post: #8187
RE: The Bitcoin (BTC) thread
(07-12-2019 04:47 PM)JayJuanGee Wrote:  
(07-12-2019 12:36 PM)JayJuanGee Wrote:  
(07-12-2019 07:03 AM)Dr. Howard Wrote:  
(07-12-2019 06:30 AM)redbeard Wrote:  Trump Bitcoin tweet Big Grin


Notice the slight change though...only "unregulated" crypto assets can facilitate unlawful behavior. It used to just be all crytpo.

The second part of Trump's tweet makes it obvious who is behind the complaining, its the banks.

Its going to get really interesting when its a bankers vs. techopolies vs. Crypto OGs. I think it will be banks and tech trying to be declared the first government sanctioned/regulated crypto while they try to declare OG currencies illegal.

I wish I knew more about the whole silver vs. gold vs. greenbacks currency basis battle from the late 1800s. This almost seems like it. https://en.wikipedia.org/wiki/United_Sta...tates_Note

At one time you could use gold, silver, greenbacks or dollars. Eventually through regulation you couldn't use gold as currency, then no silver, then no greenbacks and only dollars.

Even the 'free silver' posters from back then https://en.wikipedia.org/wiki/Free_silver seem like they echo the for and against arguments of using them as currency today.

Surely, interesting times ahead, and a bit surprising that Trump's attention to this matter may have been sparked, in part by Facebook's announcement of creating its own coin, but then he relates that to Bitcoin and thereafter to other crypto currencies as well.

So part of the interesting situation will to see how this evolves. For example, the financial committee in congress had sent facebook a kind of cease and desist letter, so it will be interesting to see if any government officials, whether the president, congress, senate or some other officials start to send cease and desist letters to other cryptos, including to bitcoin.

Lots of letters would be going out, and it would be interesting to see to whom such letters would be sent, if such regulation paths were to be pursued.. and thereafter which parts of the regulatory efforts would be effective. Surely there are mixed feelings about a variety of these matters, and even the president's feelings might evolve upon further education .... Of course, our current president believes he is an expert on a lot of matters (which is frequently proven wrong), so figuring out whether he is able to influence bitcoin or other crypto currencies in the direction that he would prefer could take a decent amount of time to play out, and might even result in the opposite of what had been intended.

Here's a nice little supplemental article regarding a potential reading of both Trump's tweet and the fact that Fed Chair Jerome Powell had also mentioned bitcoin in his testimony in front of congress on the same day.

https://www.ccn.com/news/every-nation-ho...019/07/12/

Interesting! So trump was following the standard reactionary script that is being fed to the IRS and other agencies while the Fed chairman doesn't see it as a threat at all, he also sees it as running parallel to the multi currency era of the late 1800s/wild west.

On monday I am curious to see if there is any further rise in BTC price. Does either of their opinion matter or reflect in it? Fed Chair's positive/neutral or Trump's negative.

Why do the heathen rage and the people imagine a vain thing? Psalm 2:1 KJV
07-14-2019 02:32 PM
Find all posts by this user Like Post Quote this message in a reply
zoom Offline
Wingman
***
Gold Member

Posts: 690
Joined: Nov 2010
Reputation: 14
Post: #8188
RE: The Bitcoin (BTC) thread
(07-14-2019 02:32 PM)Dr. Howard Wrote:  Interesting! So trump was following the standard reactionary script that is being fed to the IRS and other agencies while the Fed chairman doesn't see it as a threat at all, he also sees it as running parallel to the multi currency era of the late 1800s/wild west.

I don't see how Bitcoin could be a threat to the US dollar. Bitcoin BTC does not scale so it's capped at about only 400,000 transactions per day. For this reason many people think of BTC as a "digital gold".

Other cryptocurrencies that can scale could possibly become a treat in the future.
07-14-2019 02:54 PM
Find all posts by this user Like Post Quote this message in a reply
Nolimitz Offline
Male Feminist

Posts: 19
Joined: Sep 2018
Reputation: 0
Post: #8189
RE: The Bitcoin (BTC) thread
@Jay I average in. Regardless of predictions/movement. In the case of large corrections i’ll buy a bit more. In regards to the prediction...would be healthy. But usually when everyone thinks it’ll go one way...prepare for the opposite.
07-14-2019 03:21 PM
Find all posts by this user Like Post Quote this message in a reply
[-] The following 1 user Likes Nolimitz's post:
JayJuanGee
JayJuanGee Offline
Innovative Casanova
*******
Gold Member

Posts: 6,067
Joined: Aug 2013
Reputation: 77
Post: #8190
RE: The Bitcoin (BTC) thread
(07-14-2019 02:32 PM)Dr. Howard Wrote:  Interesting! So trump was following the standard reactionary script that is being fed to the IRS and other agencies while the Fed chairman doesn't see it as a threat at all, he also sees it as running parallel to the multi currency era of the late 1800s/wild west.

On monday I am curious to see if there is any further rise in BTC price. Does either of their opinion matter or reflect in it? Fed Chair's positive/neutral or Trump's negative.

Yeah, I doubt that it matters too much in short term BTC price movements because BTC prices are going to do whatever they are going to do and there are a variety of factors affecting price, including a few matters here on the margins, such as contradictory government announcements.

I really doubt that there is any kind of coordinated effort from the USA government, and it could take a bit of time for various government agencies and officials to figure out what to do and to coordinate any kind of meaningful approach.

Of course, I am not suggesting that these kinds of pronouncements don't have any meaning at all, but just that they are amongst other many factors, including actual bitcoin price momentum, increased financialization and upcoming halvening.

Also, difficult to know about the timeline for any kinds of predictions, yet it still seems to be that the next couple years will continue to be bullish for bitcoin, even if we might have some intermediate downward corrections and consolidation, that might even include the one that currently we are in. Yes, we already had a 30% correction down to $9,614, but I would NOT be too surprised by additional corrections that even go into the 50% arena... though we cannot really count on that either.
07-14-2019 03:31 PM
Find all posts by this user Like Post Quote this message in a reply
JayJuanGee Offline
Innovative Casanova
*******
Gold Member

Posts: 6,067
Joined: Aug 2013
Reputation: 77
Post: #8191
RE: The Bitcoin (BTC) thread
(07-14-2019 02:54 PM)zoom Wrote:  
(07-14-2019 02:32 PM)Dr. Howard Wrote:  Interesting! So trump was following the standard reactionary script that is being fed to the IRS and other agencies while the Fed chairman doesn't see it as a threat at all, he also sees it as running parallel to the multi currency era of the late 1800s/wild west.

I don't see how Bitcoin could be a threat to the US dollar. Bitcoin BTC does not scale so it's capped at about only 400,000 transactions per day. For this reason many people think of BTC as a "digital gold".

Other cryptocurrencies that can scale could possibly become a treat in the future.

I can hardly believe that you still feel comfortable propagating that quite apparently debunked talking point. Perhaps you really believe it, but it should seem decently obvious by now that bcash and some of that other trash are merely serving as clownish attempts to coattail on the various strengths of bitcoin, including its name and its network effects.. and smart money seems to be showing that they are not that dumb to get onboard, so instead, bcash pumpers like to pander to various bitcoin forums and attempt to confuse newbies into believing either that bitcoin is broken and/or that their dumbass shit coin is the solution to bitcoin's various supposed ills.

Good luck with that... Hey.. you remind me that maybe I should post a thread that relates to how poorly the various shitcoins have been performing, recently, as compared with bitcoin, but likely still is not going to get you from stopping talking about your hopium that one of these other bagholding coins that you are holding will perhaps pump a bit.. perhaps? based on smoke and mirrors? and rounding up naive folks?
07-14-2019 03:37 PM
Find all posts by this user Like Post Quote this message in a reply
JayJuanGee Offline
Innovative Casanova
*******
Gold Member

Posts: 6,067
Joined: Aug 2013
Reputation: 77
Post: #8192
RE: The Bitcoin (BTC) thread
(07-14-2019 03:21 PM)Nolimitz Wrote:  @Jay I average in. Regardless of predictions/movement. In the case of large corrections i’ll buy a bit more. In regards to the prediction...would be healthy. But usually when everyone thinks it’ll go one way...prepare for the opposite.

O.k. Fair enough.

I consider that there is an accumulation phase in which any guy who is investing into bitcoin will take a decent amount of time to get his holdings up to a percentage level that is comfortable to him. Accordingly, the percentage level is relative to other investments that he might have.

So, yeah, once a guy gets to a level of BTC that is comfortable, then the next stage would be maintenance. I consider myself to be fairly strongly in maintenance.

The third stage would be liquidation.

Personally, I don't consider any of these stages to be absolutes in practice, but there should be some kind of an ability to attempt to figure where you are at and then attempt to conform your investment style the stage that you are in or levels of gradients that you might partly be in other stages as well or transitioning from emphasizing one stage to the next.
07-14-2019 03:43 PM
Find all posts by this user Like Post Quote this message in a reply
zoom Offline
Wingman
***
Gold Member

Posts: 690
Joined: Nov 2010
Reputation: 14
Post: #8193
RE: The Bitcoin (BTC) thread
(07-14-2019 03:37 PM)JayJuanGee Wrote:  I can hardly believe that you still feel comfortable propagating that quite apparently debunked talking point. Perhaps you really believe it, but it should seem decently obvious by now that bcash and some of that other trash are merely serving as clownish attempts to coattail on the various strengths of bitcoin, including its name and its network effects.. and smart money seems to be showing that they are not that dumb to get onboard, so instead, bcash pumpers like to pander to various bitcoin forums and attempt to confuse newbies into believing either that bitcoin is broken and/or that their dumbass shit coin is the solution to bitcoin's various supposed ills.

Good luck with that... Hey.. you remind me that maybe I should post a thread that relates to how poorly the various shitcoins have been performing, recently, as compared with bitcoin, but likely still is not going to get you from stopping talking about your hopium that one of these other bagholding coins that you are holding will perhaps pump a bit.. perhaps? based on smoke and mirrors? and rounding up naive folks?

Looks like I triggered JayJuanGee. I thought you were now posting exclusively at a different forum?

What "debunked" talking point? The fees for sending BTC will rise significantly if more on-chain transactions are performed. You have to be one of the most delusional Bitcoin maximalists I have ever come across.

If you want to create a new thread on alt-coins then you are free to do so. I don't care that much about price as I have mentioned before. To reiterate, I think price is one of the least interesting aspects of cryptocurrency.
07-14-2019 04:11 PM
Find all posts by this user Like Post Quote this message in a reply
JayJuanGee Offline
Innovative Casanova
*******
Gold Member

Posts: 6,067
Joined: Aug 2013
Reputation: 77
Post: #8194
RE: The Bitcoin (BTC) thread
(07-14-2019 04:11 PM)zoom Wrote:  
(07-14-2019 03:37 PM)JayJuanGee Wrote:  I can hardly believe that you still feel comfortable propagating that quite apparently debunked talking point. Perhaps you really believe it, but it should seem decently obvious by now that bcash and some of that other trash are merely serving as clownish attempts to coattail on the various strengths of bitcoin, including its name and its network effects.. and smart money seems to be showing that they are not that dumb to get onboard, so instead, bcash pumpers like to pander to various bitcoin forums and attempt to confuse newbies into believing either that bitcoin is broken and/or that their dumbass shit coin is the solution to bitcoin's various supposed ills.

Good luck with that... Hey.. you remind me that maybe I should post a thread that relates to how poorly the various shitcoins have been performing, recently, as compared with bitcoin, but likely still is not going to get you from stopping talking about your hopium that one of these other bagholding coins that you are holding will perhaps pump a bit.. perhaps? based on smoke and mirrors? and rounding up naive folks?

Looks like I triggered JayJuanGee. I thought you were now posting exclusively at a different forum?

What "debunked" talking point? The fees for sending BTC will rise significantly if more on-chain transactions are performed. You have to be one of the most delusional Bitcoin maximalists I have ever come across.

If you want to create a new thread on alt-coins then you are free to do so. I don't care that much about price as I have mentioned before. To reiterate, I think price is one of the least interesting aspects of cryptocurrency.

You seem to be rising to the level of a troll, Zoom. You keep raising the same nonsense talking points because you want to pump your coins and attempt to denigrate bitcoin, but seems like even the price movements of bitcoin versus the various shit coins likely shows some aspects about the market speaking.

So, you seem to be a delusional one who is also now suggesting that you might be posting in the appropriate thread in spite of your seeming bcash baggage? Bcash is not bitcoin, even though you want to keep on with your own delusion and to push that boloney as if it were bitcoin and as if were speaking some kind of relevance in relation to bitcoin.. when bcash talking points seem to be BIG ass distractions rather than actually having much of any real meaningful relevance to KING daddy bitcoin.

Here's a tweet of a chart from July 3 that might give some juxtaposition showing of how little important price matters.

https://twitter.com/WhiteRabbitBTC/statu...5057286144

[Image: ?u=https%3A%2F%2Fpbs.twimg.com%2Fmedia%2...QDmQ30_sjw]
(This post was last modified: 07-14-2019 04:22 PM by JayJuanGee.)
07-14-2019 04:21 PM
Find all posts by this user Like Post Quote this message in a reply
zoom Offline
Wingman
***
Gold Member

Posts: 690
Joined: Nov 2010
Reputation: 14
Post: #8195
RE: The Bitcoin (BTC) thread
I just said that I don't care much about price. Your entire reply was about price and you ignored my point about fees. Again, you're completely delusional. I give you credit for getting into Bitcoin early but that's it.
07-14-2019 04:26 PM
Find all posts by this user Like Post Quote this message in a reply
JayJuanGee Offline
Innovative Casanova
*******
Gold Member

Posts: 6,067
Joined: Aug 2013
Reputation: 77
Post: #8196
RE: The Bitcoin (BTC) thread
(07-14-2019 04:26 PM)zoom Wrote:  I just said that I don't care much about price. Your entire reply was about price and you ignored my point about fees. Again, you're completely delusional. I give you credit for getting into Bitcoin early but that's it.

Good for you that you don't care about it, because it is not doing you much good, and likely it is going to continue to NOT do you much good as your shitcoins continue to collapse as they should.

Get the fuck out of here suggesting that I have not sufficiently responded to your repeated point about fees and transaction times. You figure out what you want to do and you can add up the frees in terms of how you want to transact.

Of course, you can transact the shit out of your various trash coins because hardly anyone is using them. If they get up to bitcoin's size then they are likely to have a whole hell of a lot more problems than bitcoin, but who the fuck cares, because they have to get up to somewhere even close to bitcoin's size before we even have close to a relevant comparison point. So what I am saying is that you might feel all high and mighty attempting to criticize bitcoin for having too high of fees or too slow of transaction times, but your dumbass scam coins don't have traffic and they are unlikely to even grow to such size, so go ahead and use them to buy coffee or whatever. I also had answered this question in terms of gresham's law before too and of course, people are going to spend their shitty money first, if they have it, and if they’ve have bcash and bitcoin, they should be way more inclined to spend bcash first to get rid of the crap, if they can.

Regarding the only supposedly good thing that I have done is getting into bitcoin early, get out of here with that too. I have been attempting to help guys out with their investment in this thread and sharing ideas about the topic for as long as I have been in bitcoin, so hopefully that should count for something too, even though you may be feeling all negative about me and only feeling that I got lucky, or whatever your sly point was meant to be.
07-14-2019 04:42 PM
Find all posts by this user Like Post Quote this message in a reply
[-] The following 1 user Likes JayJuanGee's post:
rungoodinc
redbeard Offline
True Player
*****
Gold Member

Posts: 2,863
Joined: Jan 2014
Reputation: 71
Post: #8197
RE: The Bitcoin (BTC) thread
There's a lot of people in "crypto" who try to use the following "holier than thou" approach to add credibility to their comments:

(07-14-2019 04:26 PM)zoom Wrote:  I just said that I don't care much about price.

However, ignoring price is one of the most ridiculous things you can do.

Considering that there are no CEO's, dividends, P/E ratios, etc., price is the most pure metric of public sentiment. When more people are enthusiastic about Bitcoin, they purchase, and the price goes up. That's it. There are no buybacks or other fundamental factors that could manipulate price.

Tweets/day, on-chain volume, and other indicators can all be fudged. Purchasing cannot, and is the only metric that counts "skin in the game."

When BTC forked into BTC + BCH, how can you tell which coin is more popular? Since there's no election, representatives, or voting in Bitcoin, the only answer is price.

BCH is now worth 3% of one BTC, (and BSV down to ~1%). This quantitatively proves that the market wants BTC, not BCH.

Price is ALL that matters. If you disagree, keep holding your shitcoins to zero and tell me again price doesn't matter.

1 Year NoFap Veteran --- No Days Off in Trump's America
07-14-2019 05:04 PM
Visit this user's website Find all posts by this user Like Post Quote this message in a reply
[-] The following 1 user Likes redbeard's post:
JayJuanGee
Dr. Howard Away
International Playboy
******
Gold Member

Posts: 5,993
Joined: Oct 2011
Reputation: 75
Post: #8198
RE: The Bitcoin (BTC) thread
(07-14-2019 02:54 PM)zoom Wrote:  
(07-14-2019 02:32 PM)Dr. Howard Wrote:  Interesting! So trump was following the standard reactionary script that is being fed to the IRS and other agencies while the Fed chairman doesn't see it as a threat at all, he also sees it as running parallel to the multi currency era of the late 1800s/wild west.

I don't see how Bitcoin could be a threat to the US dollar. Bitcoin BTC does not scale so it's capped at about only 400,000 transactions per day. For this reason many people think of BTC as a "digital gold".

Other cryptocurrencies that can scale could possibly become a treat in the future.

Can other forum members chime in on this? I don't know enough about it. Does something need to be built on top of Bitcoin BTC in order for it to act as a currency?

Is the premise the same idea as to why you can't use hunks of gold as fluid currency? ie. the transaction cost to weigh and proof the gold would be too expensive to use it to buy something like a candy bar?

Why do the heathen rage and the people imagine a vain thing? Psalm 2:1 KJV
07-14-2019 05:25 PM
Find all posts by this user Like Post Quote this message in a reply
zoom Offline
Wingman
***
Gold Member

Posts: 690
Joined: Nov 2010
Reputation: 14
Post: #8199
RE: The Bitcoin (BTC) thread
(07-14-2019 04:42 PM)JayJuanGee Wrote:  Get the fuck out of here suggesting that I have not sufficiently responded to your repeated point about fees and transaction times. You figure out what you want to do and you can add up the frees in terms of how you want to transact.

For global adoption as a currency a 1mb block size limit would never work.

(07-14-2019 04:42 PM)JayJuanGee Wrote:  Regarding the only supposedly good thing that I have done is getting into bitcoin early, get out of here with that too. I have been attempting to help guys out with their investment in this thread and sharing ideas about the topic for as long as I have been in bitcoin, so hopefully that should count for something too, even though you may be feeling all negative about me and only feeling that I got lucky, or whatever your sly point was meant to be.

Fair enough, I'll give you that too. You have consistently answered questions and posted information.
07-14-2019 05:35 PM
Find all posts by this user Like Post Quote this message in a reply
zoom Offline
Wingman
***
Gold Member

Posts: 690
Joined: Nov 2010
Reputation: 14
Post: #8200
RE: The Bitcoin (BTC) thread
(07-14-2019 05:04 PM)redbeard Wrote:  However, ignoring price is one of the most ridiculous things you can do.

Considering that there are no CEO's, dividends, P/E ratios, etc., price is the most pure metric of public sentiment. When more people are enthusiastic about Bitcoin, they purchase, and the price goes up. That's it. There are no buybacks or other fundamental factors that could manipulate price.

I don't ignore price but it doesn't interest me as much as the world-changing technology. Also the market is irrational. Recently the price went up but it wasn't because there was a bunch of new interest in Bitcoin. It's a few whales manipulating the market.

Also, aren't you on record saying that BTC needs to increase its blocksize eventually?
07-14-2019 05:43 PM
Find all posts by this user Like Post Quote this message in a reply
Post Reply 


Possibly Related Threads...
Thread: Author Replies: Views: Last Post
  IRS: Bitcoin is not currency assman 23 7,140 07-06-2019 08:37 PM
Last Post: Deepdiver
  Bitcoin & Cryptocurrency Profit & Loss Trackers & Capital Gains Calculators jamaicabound 2 4,547 06-01-2019 09:03 AM
Last Post: Dr. Howard
  DACing for Cryptodummies: Hassle-Free and Easy Bitcoin Investing SamuelBRoberts 108 31,365 12-26-2018 08:27 PM
Last Post: redbeard

Forum Jump:


User(s) browsing this thread: 2 Guest(s)

Contact Us | RooshV.com | Return to Top | Return to Content | Mobile Version | RSS Syndication