The Bitcoin (BTC) thread

C

Cervantes

Woodpecker
Woman
There is a crypto derivatives marketplace called BitMEX, where one of the things you can do is buy leveraged shorts against crypto. Someone has set up a twitter bot that scans bitmex for margin calls, called "BitMEX Rekt":


When BTC spiked from 38k to 44k within a few hours tons of crypto shorts got Rekt. This is a lovely one:



But there are so many crypto shorts liquidated today. So many hedge funds are shorting BTC:

www.trustnodes.com

Hedge Funds Shorting $1.4 Billion Bitcoin

The latest data from the Chicago Mercantile Exchange (CME) reveals that hedge funds are twice more short than long on bitcoin futures. There were 7,991…
www.trustnodes.com www.trustnodes.com

Hedge funds getting BTFO'd on bitcoin shorts today. Thanks Elon!
 
C

Cervantes

Woodpecker
Woman
Cervantes said:
There is a crypto derivatives marketplace called BitMEX, where one of the things you can do is buy leveraged shorts against crypto. Someone has set up a twitter bot that scans bitmex for margin calls, called "BitMEX Rekt":


When BTC spiked from 38k to 44k within a few hours tons of crypto shorts got Rekt. This is a lovely one:



But there are so many crypto shorts liquidated today. So many hedge funds are shorting BTC:

www.trustnodes.com

Hedge Funds Shorting $1.4 Billion Bitcoin

The latest data from the Chicago Mercantile Exchange (CME) reveals that hedge funds are twice more short than long on bitcoin futures. There were 7,991…
www.trustnodes.com www.trustnodes.com

Hedge funds getting BTFO'd on bitcoin shorts today. Thanks Elon!
Click to expand...

BTC back into record territory, BTC short REKTage in progress.

Blood flowing freely:



Damn son. BTFO.
 
D

Distant Hubbub

Chicken
A lot of young people are getting into crypto to try and get ahead when pursuing a safer investment like some land or a home. I have a mate who keeps all of his money in crypto and when he is in line at the supermarket he looks on his phone at what is up on that particular day and transfers that onto his card before paying. However the best financial advice ever given to me was to not smoke and to not drink, that is a priceless investment for your health also.
 
B

Beaker

Robin
Eusebius Erasmus said:
If the government wants to, it can shut down BTC.

Most people use platforms like Coinbase to trade BTC, and these platforms can be easily shut down.

Furthermore, I'm not convinced the blockchain is impenetrable. So-called BitCoin experts claim this, but every technology built by man has flaws. The NSA has the resources to shut it down.

Finally, they can just cut off your online/cellular access, removing your ability to have BTC.

Don't get me wrong -- I invest in crypto -- but you have to be aware of the risks.
Click to expand...
You have to spend what you made from it, it's not a long term investment. Actually nothing is a long term investment at this point.
 
M

Maciano

Kingfisher
It’s funny to still see so many BTC skeptics. What a cope!

Imagine being alive this century and not having bought BTC as soon as you had the opportunity.

In the past it really annoyed me, but now it just makes me smile. What exactly is left to prove at this point?

I mean, sure, go ahead: don’t buy! I don’t care.
 
M

Meraki

Sparrow
It’s tough when the only regret is not having more!

With Tesla, PayPal and other international companies beginning to do business in crypto, this only stands to go more as normal day-to-day people adapt to it.

they already are primed to pay $$$ for fake candy games in their cellphone, imagine how people will jump in when their favorite celebs start pumping BTC & crypto on Instagram. Or an Ariana Grande requesting payment in litecoin or whatever.

then the real push starts. It’s nuts that I’m already up over 100% on the crypto I purchased a couple weeks ago. I’m curious to see what happens when BTC breaks 50k... I think that’s when the real party starts.

if only I had more cash! Thanks to Redbeard and the members on this forum for constantly emphasising the urgency of getting crypto coins over the past year. May we prosper, stay humble, invest & lead our families forward.

Great Resest indeed - BTC has been wealth redistribution for the unwashed masses.
 
An0dyne

An0dyne

Robin
Other Christian
I’m a complete noob here, but the research I’ve been doing suggests there was a similar burst before a crash in BTC in ‘17. Conversely, I’ve read a number of takes suggesting the push from Musk and other companies are priming BTC for massive gains. I want to buy in, but I’m afraid my luck would tend toward the former rather than the latter. Is this a salient take on it (I.e., is it a gamble as I figure, or is it safer than I think)? I’m also afraid of bandwagoning since everyone is hyping it now thanks to Tesla.
 
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redbeard

redbeard

Hummingbird
Catholic
Gold Member
An0dyne said:
I’m a complete noob here, but the research I’ve been doing suggests there was a similar burst before a crash in BTC in ‘17. Conversely, I’ve read a number of takes suggesting the push from Musk and other companies are priming BTC for massive gains. I want to buy in, but I’m afraid my luck would tend toward the former rather than the latter. Is this a salient take on it (I.e., is it a gamble as I figure, or is it safer than I think)? I’m also afraid of bandwagoning since everyone is hyping it now thanks to Tesla.
Click to expand...
Read this:

Redbeard's BTC For Beginners Datasheet

There’s been an influx of beginners into The Bitcoin Thread, so I wanted to put together answers to beginner questions all in one place. The main thread is a useful tool for discussion and current events, but at this point, it’s too much for beginners to parse through. Hopefully this thread will...
www.rooshvforum.com www.rooshvforum.com

Invest only what you can afford to lose. Start with 5-10% of your net worth and go from there. If your position keeps you up at night, sell it. Just get started
 
G

greenwolf

Woodpecker
Protestant
Eusebius Erasmus said:
If the government wants to, it can shut down BTC.

Most people use platforms like Coinbase to trade BTC, and these platforms can be easily shut down.

Furthermore, I'm not convinced the blockchain is impenetrable. So-called BitCoin experts claim this, but every technology built by man has flaws. The NSA has the resources to shut it down.

Finally, they can just cut off your online/cellular access, removing your ability to have BTC.

Don't get me wrong -- I invest in crypto -- but you have to be aware of the risks.
Click to expand...
No, the gov is not all powerful which you imply here. A lot is just pure propaganda.
They can just kill the golden goose coinbase. But the rest is tough to do.
And so far it is unhackable, the proof are these billion dollar bounties sitting on e.g. satoshi wallet
 
G

greenwolf

Woodpecker
Protestant
redbeard said:
Read this:

Redbeard's BTC For Beginners Datasheet

There’s been an influx of beginners into The Bitcoin Thread, so I wanted to put together answers to beginner questions all in one place. The main thread is a useful tool for discussion and current events, but at this point, it’s too much for beginners to parse through. Hopefully this thread will...
www.rooshvforum.com www.rooshvforum.com

Invest only what you can afford to lose. Start with 5-10% of your net worth and go from there. If your position keeps you up at night, sell it. Just get started
Click to expand...
Only keep in your bank account what you can afford to loose. :)
It will get inflated away, eaten up by fees, confiscated or just mishandled.
 
Eusebius Erasmus

Eusebius Erasmus

Ostrich
Orthodox
greenwolf said:
No, the gov is not all powerful which you imply here. A lot is just pure propaganda.
They can just kill the golden goose coinbase. But the rest is tough to do.
And so far it is unhackable, the proof are these billion dollar bounties sitting on e.g. satoshi wallet
Click to expand...

Every human invention that has claimed impermeability has been breached.

Just look at the history of supposedly perfect innovations: The Walls of Constantinople, The German WWII enigma code, The Titanic, and even the Tower of Babel. They all failed.

It is ungodly pride which leads us to believe that manmade inventions are perfect. Unless BTC was created by God, then it is not perfect, and will be breached, though this may not happen for a while.

Like I said, I hold crypto-currency, in addition to other assets. However, I do not pretend that BTC is indestructible. That is just propaganda put out by BTC cultists, who have a quasi-religious attachment to the cryptocurrency.
 
G

greenwolf

Woodpecker
Protestant
Eusebius Erasmus said:
Every human invention that has claimed impermeability has been breached.

Just look at the history of supposedly perfect innovations: The Walls of Constantinople, The German WWII enigma code, The Titanic, and even the Tower of Babel. They all failed.

It is ungodly pride which leads us to believe that manmade inventions are perfect. Unless BTC was created by God, then it is not perfect, and will be breached, though this may not happen for a while.

Like I said, I hold crypto-currency, in addition to other assets. However, I do not pretend that BTC is indestructible. That is just propaganda put out by BTC cultists, who have a quasi-religious attachment to the cryptocurrency.
Click to expand...
Maybe it has come from God?
It would be a way to save the world. I have no idea why we should have earned that saving grace in the first place given the wicked state of affairs, but lets think it thru for a moment. But maybe the times when Jesus came to the earth, it might have been a similar state of affairs? I have no thoughts about that, but it could have been a similarly desperate time.
All I see is just black and it prevents me from falling into the dark abyss of our times.

*It encourages saving by using the boundless greed of these days. The more you save now, the more you will have in the future, because its price go up over a 4 year period.
*Everyone can easily access it and get some. So everyone can actually join, if he hears a calling and wants to.
*It will remove the power of the money printers (the modern day version of pharaos), bankers and the buffet type of people (hypocrites) over time because they cannot print more BTC and they need to get in just to save face. And they get in least, paying the highest price due to their false pride.
*Too much greed / fear and sloppyness will teach you a very harsh lesson really quick. One learns best with errors anyway.
*It creates a common / shared sense of belonging along the participants bridging different classes.
*In a way, hanging on to it will improve your life beyond belief.
 
berenmsc

berenmsc

Sparrow
Other Christian
greenwolf said:
Maybe it has come from God?
It would be a way to save the world. I have no idea why we should have earned that saving grace in the first place given the wicked state of affairs, but lets think it thru for a moment. But maybe the times when Jesus came to the earth, it might have been a similar state of affairs? I have no thoughts about that, but it could have been a similarly desperate time.
All I see is just black and it prevents me from falling into the dark abyss of our times.

*It encourages saving by using the boundless greed of these days. The more you save now, the more you will have in the future, because its price go up over a 4 year period.
*Everyone can easily access it and get some. So everyone can actually join, if he hears a calling and wants to.
*It will remove the power of the money printers (the modern day version of pharaos), bankers and the buffet type of people (hypocrites) over time because they cannot print more BTC and they need to get in just to save face. And they get in least, paying the highest price due to their false pride.
*Too much greed / fear and sloppyness will teach you a very harsh lesson really quick. One learns best with errors anyway.
*It creates a common / shared sense of belonging along the participants bridging different classes.
*In a way, hanging on to it will improve your life beyond belief.
Click to expand...
This is what I've been trying to tell people!!!! Brothers... BUY SOME.
 
berenmsc

berenmsc

Sparrow
Other Christian
greenwolf said:
Maybe it has come from God?
It would be a way to save the world. I have no idea why we should have earned that saving grace in the first place given the wicked state of affairs, but lets think it thru for a moment. But maybe the times when Jesus came to the earth, it might have been a similar state of affairs? I have no thoughts about that, but it could have been a similarly desperate time.
All I see is just black and it prevents me from falling into the dark abyss of our times.

*It encourages saving by using the boundless greed of these days. The more you save now, the more you will have in the future, because its price go up over a 4 year period.
*Everyone can easily access it and get some. So everyone can actually join, if he hears a calling and wants to.
*It will remove the power of the money printers (the modern day version of pharaos), bankers and the buffet type of people (hypocrites) over time because they cannot print more BTC and they need to get in just to save face. And they get in least, paying the highest price due to their false pride.
*Too much greed / fear and sloppyness will teach you a very harsh lesson really quick. One learns best with errors anyway.
*It creates a common / shared sense of belonging along the participants bridging different classes.
*In a way, hanging on to it will improve your life beyond belief.
Click to expand...
Satoshi Nakamoto is anonymous and is a mythical figure, similar to Christ. It could be said that he is the second coming, he is here.
 
wojak

wojak

Pigeon
My bank has started to reject USD transfers into my crypto exchange account... I called a new bank in the area and asked if they would do the same if I opened an account with them, and they said they would... Has anyone else been experiencing this recently? How can I get around these fuckers trying to tell me where I can and can't send my money?
 
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