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HOT TOPIC Bitcoin / Cryptocurrency Discussion (And Predictions)

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Antifragile

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@Timmy C - dude, I can’t unsee that picture. Why are you doing this to me?
 

ramonorencio

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From a TA perspective Bitcoin just hit its weekly 21 ema, last time it did this was back in September. Straight up after it did. Just something to think about.
 

MitchC

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Elon Musk has demonstrated today why crypto in its current form cannot replace fiat. No single person alone should have the power to drive the move of a "currency" that is suppose to be an alternative to fiat.

He’s the richest person on earth and has a massive following he’s going to have some influence on anything

just because it’s a group of scumbags manipulating and devaluing fiat rather than one person doesn’t mean it’s better

maybe he’s about to do some sort of clean energy shitcoin ipo, lines up with him pumping doge

Tesla coin
 
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Antifragile

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This is not about the maket down of today in crypto, just an interesting article on Bitcoin origin theory. Did the NSA create Bitcoin?

 
D

Deleted78083

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Elon Musk has demonstrated today why crypto in its current form cannot replace fiat. No single person alone should have the power to drive the move of a "currency" that is suppose to be an alternative to fiat.

It's not about Elon Musk. The value of a currency depends, among other things, on what you can do with it. Teslas were some of the few stuff you could buy with btc, and now that you can't do it anymore, it makes btc "less valuable".

The people that sold their btc are those that believe btc is some sort of currency. To me, it isn't. It's an asset with its own characteristics.
 

Timmy C

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It's not about Elon Musk. The value of a currency depends, among other things, on what you can do with it. Teslas were some of the few stuff you could buy with btc, and now that you can't do it anymore, it makes btc "less valuable".

The people that sold their btc are those that believe btc is some sort of currency. To me, it isn't. It's an asset with its own characteristics.

I think you overestimate the thought process of the average individual.
 

Timmy C

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Does the average individual hold crypto (besides dogecoin)?
I would say the average just does things because others are, the average follows Elon.
Not surprised BTC dumped, they will all do what their master wants them to do.
Take one look at the comment section of Elon Musks Twitter account and tell me honestly they aren't a bunch of retards.
 

Xeon

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I think you overestimate the thought process of the average individual.

Where's your lambo, Elon? Reading your crypto "investment" posts smacked with elitism, one would have thought you're collecting supercars by the shiploads now.

Elon is the fisherman, you're the fish in his net buddy.
 
D

Deleted78083

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I would say the average just does things because others are, the average follows Elon.
Not surprised BTC dumped, they will all do what their master wants them to do.
Take one look at the comment section of Elon Musks Twitter account and tell me honestly they aren't a bunch of retards.

Ok, this is weird. Both Teslas and btc run on electricity.

Is Musk going to stop selling Teslas in China because of "environmental concerns"?

Also people in Musk's twitter comments are a bunch of retards.
 

Antifragile

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Block and ignore is available to you at any time.

If you don't have a sense of humour that ain't my problem.

That's your problem.
You are right about blocking! Thanks for reminding me. Done. Carry on...
 

GPM

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Lol. Drama has entered the chat room....

I kept waiting to see the Eth pullback, I can't believe it took so long. Eth shot up like a rocket with no little corrections along the way the last week or two.

Small consolidation phase before the next leg up? We shall see.
 

Timmy C

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Lol. Drama has entered the chat room....

I kept waiting to see the Eth pullback, I can't believe it took so long. Eth shot up like a rocket with no little corrections along the way the last week or two.

Small consolidation phase before the next leg up? We shall see.

We should combine all of our crystal ball price targets and run a mathematical equation to get the exact price peak on each crypto.

Then sell a book for $999.

Use that money to buy more crypto.

I think it's inevitable we go higher. I don't doubt that.

Few weeks?

Few days?

We will see.
 

AceVentures

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Every time the market deals with another FUD, it becomes stronger. Been watching that pattern play out and it's bullish imo because every time it happens the story gets a chance to break its correlation with the FUD.

The story hasn't changed, its stronger than ever - if you think the banks just stopped being disrupted cause Elon tweeted the dumbest FUD, you're not paying attention to what's happening.

Institutions are rigging up their vaults to AAVE so they can put their money to work, and we're here dicking around talking about titty coins and Elon Musk.
 

Matt Sun

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Every time the market deals with another FUD, it becomes stronger. Been watching that pattern play out and it's bullish imo because every time it happens the story gets a chance to break its correlation with the FUD.

The story hasn't changed, its stronger than ever - if you think the banks just stopped being disrupted cause Elon tweeted the dumbest FUD, you're not paying attention to what's happening.

Institutions are rigging up their vaults to AAVE so they can put their money to work, and we're here dicking around talking about titty coins and Elon Musk.
Who would you recommend following on twitter AceVentures ? Since that is where you get your DeFi info. I'm thinking that in this crypto gold rush, the way of selling shovels would be to sell and share good info on this new tech, but got to become an expert first.
 

Antifragile

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How did you get rich?
"Vitalik and Elon"
How did you lose it all?
"Vitalik and Elon"

from @CryptoCred twitter.
 

Bones81

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Not sure why everyone is upset at Vitalik for giving a bunch of scam coins that he wants nothing to do with to charity. If people are going to speculate on meme coins, they shouldn't be upset when their hand gets caught in the cookie jar.
 

Ing

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Someone in CHIA mining?
 

JamesQB8

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How did you get rich?
"Vitalik and Elon"
How did you lose it all?
"Vitalik and Elon"

from @CryptoCred twitter.

Your name is apt here. The more fud they throw at crypto the more antifragile it becomes. And they're loading up on the fud hard these last couple of days
 

Antifragile

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I am a real estate guy.
What determines the value of RE assets?
1. Demand. The quantity of people who want to pay for property.
2. Utility. Ability to meet tenant's needs.
3. Scarcity. Available substitutes for the property.
4. Transferability. Freedom to sell asset at will.

Cryto is entirely different but applying this 4 item value model, what is striking to me is how well Bitcoin was set up from the start. It wasn't (still isn't) perfect, but it hit on and improved on value items. At first low demand, now high demand (relative). Utility depends on how you define as "needs", one could argue is a lot higher now than in 2010 or even 2017. Scarcity was built into it with just 21M. And transferability is very high.

When I read about it being "worth zero" it makes me laugh. What makes something valuable?
Some think value of a thing is a function of the labour that went into producing it - or replacement cost. But in real estate, land is essential to the production of everything but is not produced by labour. Then others say that inherent value of a thing is when it is not used for production it still has value - back to land example. That's what is so fascinating about crypto world. It was produced by labour (and mining) but now if owners of BTC aren't using it as a means of exchange (just holding, HODL lol) does it lose all the value? Or is it the utility of BTC that brings it value?

That's why I am optimistic about BTC. And yes, I am not discussing yesterday/today's market fluctuations, speaking in general terms on values coming from my own background in an entirely different asset class.

Thoughts? I expect @AceVentures will have an intricate explanation on utility.

P.S. Elon Musk's tweet removes some part of utility as you can no longer buy a Tesla with BTC, so a dip in value makes sense. It's not that Musk's tweet causes a dip (which it does too), but the fact that you can do a little less with BTC should be reflected in value.
 

GPM

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Someone in CHIA mining?
I just about built a rig for it as I had some components come in that I didn't want. Rather than sell them I could throw it into a chia rig. I never did it, but it is something I might consider again once mining pools open up for it.

How about you?
 

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