The Bitcoin (BTC) thread

Eusebius Erasmus

Woodpecker
At this point I don't know how easy it will be to ban it. Billions of dollars of institutional money have poured into it. As such, they aren't going to take kindly to government regulators trying to kill their massive investments. The best time to try to kill off crypto was BEFORE it became a mainstream idea. It is way too late for that now. Any country that tries to kill crypto will only make themselves look backwards in the eyes of investors.

Nobody needs to 'ban' BTC.

BTC will be de facto useless if market mechanisms correct for speculation. If falling demand for BTC causes price to drop below a level that makes mining and transactions lucrative, then BTC will no longer be a viable asset. It's already inefficient compared to newer cryptocurrencies.
 

Maciano

Kingfisher
Full disclosure... I'm a bitcoin sceptic and sold out a while ago, so it's kinda gauling watching it rise and rise...

But...

Once digital currencies are rolled out (and we all know that's coming... soon)...

Why would the cabal allow a competing digital currency that threatens their dream of total control?...

And if it's banned, mainstream money will BOLT.

At that point, all speculations are off and BTC goes back to the basement, no?
If you sold out bc you mistrust BTC and think it will be banned etc, then why do you keep hanging around?

Have the courage to follow your own convictions and beliefs, do not look back on us suckers.
 

Maciano

Kingfisher
How is it inefficient as a store of value though, which at this point is the reason most corporate money is coming into it?

Do not even engage with this kind of ignorant nonsense. (Of the commenter Kieran refers to)

Anyone who STILL believes altcoins pose a threat to bitcoin in 2021 AFTER 2 CYCLES of being proven wrong clearly doesn’t understand hard money or network effects. such a person must also not have followed the crypto scene for long or hasn’t studied economics deeply. Useless opinion.
 

Coja Petrus Uscan

Hummingbird
Gold Member
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Stats

Woodpecker
starting 2 months from now more major coorporations will start putting their money in btc. 5% of all companies will buy btc in the next year or two. I kind of even doubt we will see a massive crash like last cycle as it seems companies like tesla and microstrategy will hodle hard. bought at 69k cad today. I expect it to at least double by september
 

Olav

Sparrow
Gold Member
Nobody needs to 'ban' BTC.

BTC will be de facto useless if market mechanisms correct for speculation. If falling demand for BTC causes price to drop below a level that makes mining and transactions lucrative, then BTC will no longer be a viable asset. It's already inefficient compared to newer cryptocurrencies.
Did you account for the fact that the mining algorithm adjusts difficulty based on how many miners are currently in? And that if a lot drop out the remaining miners can mine with more of a share and more profitably?
 

Cervantes

Woodpecker
Do you guys think litecoin is a cheaper yet sound alternative to bitcoin ? It's market cap is only $15B yet its volume is nearly half that .
Buy a coin called "satoshi". It is only 6 cents per coin, and it has grown like 8x in the last year! ;)

So many people hate the idea that one bitcoin is almost $60k, so they look for a coin that has a lower price per coin. That is a dumb way to choose a crypto to invest in. Look at the credibility of the coin itself, and its reason for being, and invest that way, regardless of the nominal value per coin.

The reason to buy bitcoin is because it has the most credibility, big money is invested in it, and even though it is not the most technologically sophisticated crypto - it has proven to be the best store of long term value. Ethereum is a good buy because it is used as the underlying infrastructure for most "defi" projects.
 
Buy a coin called "satoshi". It is only 6 cents per coin, and it has grown like 8x in the last year! ;)

So many people hate the idea that one bitcoin is almost $60k, so they look for a coin that has a lower price per coin. That is a dumb way to choose a crypto to invest in. Look at the credibility of the coin itself, and its reason for being, and invest that way, regardless of the nominal value per coin.

The reason to buy bitcoin is because it has the most credibility, big money is invested in it, and even though it is not the most technologically sophisticated crypto - it has proven to be the best store of long term value. Ethereum is a good buy because it is used as the underlying infrastructure for most "defi" projects.
Just remember 'buy the dips'.
 

Stats

Woodpecker
Question: has any one every reset their wallet from just their private keys? thinking of memorizing my keys and just dumping the hardware wallets.
 

Deepdiver

Crow
Gold Member
Question: has any one every reset their wallet from just their private keys? thinking of memorizing my keys and just dumping the hardware wallets.
What I like about my Trezor HWW is I can Xfer my private keys for the supported Cryptos to it and thus actually own my cryptos being in MY possession - however even if you tattoo your private keys and seed words to your gluteus maximus under clothes for privacy - You still do not OWN your cryptos - something to ponder.
 

Deepdiver

Crow
Gold Member
DefiChain runs on the BTC Blockchain like the old Omni project which seems to have fizzled out but with ETH Gas Fees up 7X in 12 months BTC Blockchain looking attractive.

DeFiChain is a decentralized blockchain platform dedicated to enabling fast, intelligent, and transparent decentralized financial services. Its mission is to bring full DeFi capabilities to the Bitcoin ecosystem.

The network operates on a POS consensus mechanism and further leverages Bitcoin’s security protocols by anchoring to the Bitcoin blockchain (via Merkle root) every few minutes.

Being non-Turing complete, DeFi transactions on DeFiChain flow quickly and smoothly at low gas rates. Offering a significantly reduced risk of smart contract errors, DeFiChain is a more robust financial-based blockchain providing higher levels of immutability and security for users.


The DFI Chart went through a Major parabolic 5 Wave Run Up and is nearing the end of a Major ABC Correction - what's next after the ABC - the next 5 Wave Up likely to be driven by DeFi BTC Blockchain adoption.

I rarely am this positive after a parabolic run however DFI today at $3.18 on a solid Exchange like KuCoin that I use - is like Buying BTC at $3.18 - since it introduces Proof of Stake Smart Contracts on the BTC Blockchain for the booming DeFi space.
 
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