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   Strategies & Market TrendsBitcoin


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To: Elsewhere who wrote (911)5/28/2021 6:49:49 PM
From: Doren
1 Recommendation   of 943
 
> Bitcoin supply is limited to 21 million coins.

I must say its a fascinating phenomena... very similar to the meme stocks. Limited? Only in the minds of people who wish. Its an ever larger amount of "virtual" things available to buy with as you pointed out M1+ 70%... its just a question of whether the government can print money faster than the people inventing new types of crypto.

Personally if I was invested in crypto, it'd probably be etherium.

But looking down the line in a few years there's no doubt be thousands of crypto coins not to mention NFTs...

Coin market already lists over a hundred crypto coins.

I think one really has to analyze WHY bitcoin is down 10% as I write this... why would it EVER go down if the arguments for its reality are true?

> Real estate is decaying unless you maintain it constantly.

Yeah but you can't live in a bitcoin... or write it off. I sure am glad I'm not paying rent because the smart money already snatched it up and raised rents after 2008... and they haven't stopped. Building a home in the US is more and more expensive... and in places like San Diego IF you can find the land and get approval.






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To: Doren who wrote (912)5/28/2021 7:28:50 PM
From: Elsewhere
   of 943
 
I must say its a fascinating phenomena... very similar to the meme stocks. Limited? Only in the minds of people who wish.

You are too lazy to study the subject and keep on repeating the same old nonsense, it gets boring. The Bitcoin network is secured by >100,000 nodes. Each of them has the limit of 21 million bitcoins baked into it. Any attempt by any participant trying to "forge" a coin is rejected. If a malvolent player wanted to manipulate the growing ledger, the blockchain, he would have to gather more computing power than the top 500 supercomputers combined to try to fake one new block. Even for state actors this has become virtually impossible. Bitcoin is the most secure store of value ever designed by mankind.

"Crypto" is not Bitcoin. People can invent all sorts of schemes, like the current NFT craze, that's not Bitcoin.

I think one really has to analyze WHY bitcoin is down 10% as I write this... why would it EVER go down if the arguments for its reality are true?

Because it does not make sense economically. There is no single asset where the price always goes straight up. There are always people buying and selling Bitcoin, for various reasons. Bitcoin is one of the few markets which are very difficult to manipulate. With precious metals it has been possible to subdue price, partially due to rehypothecation. With Bitcoin you get provable ownership within an hour, no rehypothecation possible. I am appending the price of gold in the Weimar hyperinflation in the 1920ies. It had violent moves, up and down - but in the end it was a clear indicator of the failing currency at that time. Bitcoin behaves similarly now.

Yeah but you can't live in a bitcoin... or write it off.

Study Austrian economics. A money without non-monetary function is the best one.


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To: Elsewhere who wrote (913)5/29/2021 8:26:34 PM
From: Doren
   of 943
 
Two-thirds of the world’s bitcoin mining power is based in China, leaving the cryptocurrency potentially vulnerable

That’s because China potentially could mount what’s known as a majority attack, or a 51% attack, which would sabotage bitcoin’s integrity and possibly cause its price to plunge. As acknowledged on the bitcoin Wiki: “Bitcoin’s security model relies on no single coalition of miners controlling more than half the mining power.”

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From: Doren5/30/2021 3:04:31 AM
   of 943
 
Buying a pink NFT cat was a crypto nightmare

Can you do technical analysis on a wittle puddy kiddy cat?

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To: Doren who wrote (914)5/30/2021 8:16:53 AM
From: Elsewhere
   of 943
 
That’s because China potentially could mount what’s known as a majority attack, or a 51% attack

Are you living under a rock? The current ~50% drawback of the Bitcoin price has partially been caused by the news that China wants to shut down mining in its country and miners are leaving China in droves. This is a great chance to spread mining better across the world.

Bitcoin is anti-fragile. It's amazing how many factors which would kill off weaker systems are helping to make it stronger.

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To: Doren who wrote (915)5/30/2021 8:18:41 AM
From: Elsewhere
   of 943
 
Can you do technical analysis on a wittle puddy kiddy cat?

Here we agree for a change. This whole NFT craze is a big scam.

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To: Elsewhere who wrote (916)6/2/2021 2:32:33 AM
From: Doren
   of 943
 
> Are you living under a rock?

Think about this... the value of all the bitcoins is trivial compared to the money China could spend buying up 51% of them.

No imagination...

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To: Doren who wrote (915)6/2/2021 5:00:24 PM
From: Elsewhere
6 Recommendations   of 943
 
Explaining NFTs


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From: teevee6/4/2021 11:10:26 PM
   of 943
 
had first sip of bitcoin kool-aide and bought 2800 EBIT.U etf which represents a bit more than 1 bitcoin.

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To: teevee who wrote (920)6/5/2021 5:38:17 AM
From: Elsewhere
   of 943
 
bought 2800 EBIT.U etf

I hope it works out for you. Be prepared for "above-average" volatility.

With such an investment vehicle there is the issuer risk but I am sure you are aware of that. When you gain confidence the ultimate goal is self-custody.

"Not your keys, not your Bitcoin."

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