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Off-Topic discussion about Bitcoin and cryptocurrency.
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Also, the aforementioned Bitcoin SV fork – the SV stands for Satoshi’s Vision, in which they maintain that BSV is the ‘original’ Bitcoin. Somehow. https://bitcoinsv.com/en
Breakthrough agreement! Historic!
they're the Satoshi Originalists I mentioned earlier, except they're real and I'm not surprised 😄
In fact, their blurb is interesting reading, touching on a few of the aspects we’ve discussed in this thread. https://bitcoinsv.com/en/earn-and-use/earn-use-economic-model
not that much.. even Adam Back called SV complete shitcoin :-)) (AB is author of Hashcash - algorythm which Satoshi used as basis for Bitcoin, he is still active in Bitcoin developement)
All those self-proclaimed "true" Bitcoins were always naming themselves the "right bitcoin" but as history shown, it was always false narrative. Often primary impulse for creating such fork was actually too big ego of one person (like Roger Ver in case of Bitcoin Cash or Craig Wright in Bitcoin SV). Craight Wriht is especially sad clown, he is well know for declaring himself to be real Satoshi and threatening to everybody who is publicly sharing Bitcoin whitepape. Absolute looser.
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This is hilarious. The People's Front of Judea side of bitcoin history.
That was in 2019 ... i guess today is that difference even bigger
Something tells me Elon Musk is still unaware of this.
In case anybody else was wondering, back in February when 'diamond hands' Tesla bought its 1.5 billion dollars' worth of bitcoin, it cost them about $34,700 a coin. We're apprehensively treading water in the high 30s this morning.
Given that the market's so weird and that so much of last week's cliff drop was an automation fuck up, I'll nix my previous 'headed for a crash this week, then stagnation, then recovery' prediction and just say that I wouldn't be surprised if it broke either way. It all feels a bit 'deer in the headlights' for now. I expect we'll get a kick up the arse from some well-timed tweets and breaking news items.
Happy Thursday folks.
@colonel_mustard I've seen a few youtubers predicting another dip before a rise but I haven't seen them argue it very coherently.
Yeah, it's a tricky one. All of that patterns in the chart/past as predictor stuff seems to be about shortening the odds, which certainly has a role, but I don't know how well it accounts for Rupert Murdoch, for instance.
That's also my expectations .. one more retest of 30k.. When it touches 42k it is expected, for now it's slowly approaching that line :-)
Only thing which makes me doubt about another wick down is that there is wide consensus amongst experienced traders it is going to happen.. And Bitcoin usually does exact opposite than most people is expecting :-)))
Just to be sure, to not miss opportunity for discount :-), i did set some limit buy orders on 31.5k and also on 28.5k to catch it, i guess IF it happens it will be fast :-)
What we now need is to close daily candle above 42k, then, as one of my favourite CT traders is saying, "lambo season begins" :-)))
I'm still absolutely confident we haven't seen top this year...
Oh and expecting tomorrow (28th) huge volatility up and down (probably between 15 - 17:00 CET), don't be afraid what's happening, it's ok, just Options expirations ;-)
Taleb agrees with your assessment:
@dendy I'm definitely keeping an eye on things but do give us a shout here in the forum if that drop happens!
I've just discovered you can buy ipad apps with Bitcoin now, cdkeys takes crypto and you can buy itunes vouchers on it.
(Haven't tried this and don't endorse this as a good way to use crypto but it's interesting nonetheless)
you can buy synths and music toys in biggest music online store in my country https://www.muziker.sk with bitcoin :-)
I have plan to buy Octatrack with bitcoin when it reaches $100k as small form of celebration :-)
also here you can pay with bitcoin : http://www.alza.sk - you can buy there literally anything computer, electronics relared and more.. biggest online store in our country :-) So in Slovakia BTC is very much useable for buying stuff :-)
Yeah it seems to be growing how many people are accepting it in the UK too, eg Scan.co.uk accepts it now
mass adoption continues, no matter of bitcoin haters
can't wait for my "bitcoin octatrack" .. this year !!!
I can definitely understand places wanting to be paid in it, harder to understand people wanting to use it to buy stuff
@richardyot said:
Up/down, heads/tails, black/red, higher/lower... I won't argue with you. I'm in it for kicks
Also, because I thought to get some in 2013/4, but I didn't do that because it wasn't sensible, and it would have been good if I had.
I actually have no bitcoin. I'm mainly interested in it as a market driver (can't quite figure out if it's the sun making the grass grow, or the moon pulling the tide). Bitcoin controls binance coin, which controls all of the young upstarts on the binance smart chain, which are all wildly speculative and can easily vanish into a wisp at any moment.
Like frogspawn in a pond.
Anyway, isn't life a bubble?
Isn't the universe a wisp of smoke after a big pop?
I'm just going to ride it awhile.
Nothing wrong with misfits.
Is there a fixed price in Bitcoin, or is the price set in fiat?
Of course it's all set in fiat and converted at the time of purchase.
Cdkeys takes a lot of different types including Dogecoin, by using Coinify.
Of course in fiat. I know why you're asking but i will dismiss that contraargument before you say it :-)) There are multiple countries with different currency than let's say USD yet when you are paying for goods from some USD store which uses USD as base currency, you see price recalculated to your country currency based on actual ratio :-) Just sometimes this price is not updated on daily or monthly basis, but less often, based on how much given pair correlates.
Actually i implemented backend for one online shop which used daily recalculated prices from EUR into all other currencies using daily prices feed from ECB. So at least some eshops are really doing recalculation to all other currencies from shop's base currency really on daily basis.
In case of bitcoin, obviously because of it's volatility, it's calculated immediately based on current ratio to given base fiat currency.
This changes nothing on fact Bitcoin has use case other than just speculation;-)
This is nice. Few stats how negative impact on economy had removing of gold standard in 1971. Fiat currencies are really bad idea.
https://wtfhappenedin1971.com/
my favourite chart is this. If there is some buble which is ready to pop hard, hen this one:
wtf really also dogecoin ? Lol :-))
What are the tax implications of using Bitcoin as cash in Slovakia? In the US there are capital gains taxes to deal with (20% cap gains if held less than 1 year, 15% cap gains if held longer than 1 year).
That's a classic case of correlation not being equal to causation. In the postwar period the rich were very heavily taxed, even in the US, tax rates as high 90%.
From the late 60s onwards those tax rates started to come down, and along with weakening of union power a greater share of national income started going to capital rather than labour.
Income distribution is mostly down to policy choices: and since the 1970s policies that favour capital over labour have been the norm. Business is always prioritised over workers, hence the disconnect between wages and productivity.
In the 50s and 60s there was much greater protection for worker's rights, which along with high marginal tax rates led to a different overall distribution of income compared to what we have now.
It's clear as day that specific policy changes have caused this, rather than some vague and tenuous connection to the end of the Bretton Woods system. The data on that site is cherry-picked, because if there really was a correlation between the Gold Standard and wages tracking productivity rises you would see exactly the same effect in 1934, but you don't.
2-3 cases can be called random corellation many many cases are not correlation..
another random correlation :-)
fiat bubble is going to pop, it's not question "if" but "when".