Author Topic: Bitcoins - about to hit $5,000 per coin today!  (Read 797577 times)

Teutonic Knight 1

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Re: Bitcoins - about to hit $5,000 per coin today!
« Reply #3150 on: April 30, 2020, 02:30:01 PM »
Teutonic Knight I hope you have now learned your lesson. Whiggs was a Bitcoin visionary. He tried to tell us,. Only very few listened...


Wiggzly, tell me on what date I ask for yours "financial advice"  ::)

Visionary Wiggzly  ;D ;D ;D , looks like 'his' Jesus is still stuck on Nabiru ..........

Wiggzly, greed is 1 of 7 deadly sins  :D


pellius

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Re: Bitcoins - about to hit $5,000 per coin today!
« Reply #3151 on: April 30, 2020, 05:37:23 PM »
In one day buying $650 in Bitcoins the value went up almost a hundred dollars. The next day, today, all gone. All gone just like that.

pellius

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Re: Bitcoins - about to hit $5,000 per coin today!
« Reply #3152 on: April 30, 2020, 05:39:33 PM »
BTW, what is the difference between withdrawing, selling, and cashing out Bitcoins?

Say I want to get $100 back in cash, what is the difference between those three options?

gib

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Re: Bitcoins - about to hit $5,000 per coin today!
« Reply #3153 on: April 30, 2020, 09:35:18 PM »
If you have coins sitting on an exchange, you can "withdraw" them by putting them into cold storage. You should never keep BTC with an exchange (essentially a 3rd party), for long periods of time. Taken them off the exchange, and put them into
"cold storage" so that you are the only person who can access them (form any country, anytime, any location, provided you have internet access and your "private key" (the secret code that only you should know, that enables the coins to be accessed).

If you wish to sell BTC, (all, or any portion thereof), you can simply arrange for a buyer to give you cash, goods, services, etc, in return for you transferring an agreed about of BTC to them.

The term "cashing out" i typically used to refer to converting BTC back into fiat currency.

PS - if you are new to this, please do not get scammed. Do not fall prey to internet scams. Buy from a reliable exchange, or from a person or business that you know is creadible.

pellius

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Re: Bitcoins - about to hit $5,000 per coin today!
« Reply #3154 on: April 30, 2020, 10:48:35 PM »
If you have coins sitting on an exchange, you can "withdraw" them by putting them into cold storage. You should never keep BTC with an exchange (essentially a 3rd party), for long periods of time. Taken them off the exchange, and put them into
"cold storage" so that you are the only person who can access them (form any country, anytime, any location, provided you have internet access and your "private key" (the secret code that only you should know, that enables the coins to be accessed).

If you wish to sell BTC, (all, or any portion thereof), you can simply arrange for a buyer to give you cash, goods, services, etc, in return for you transferring an agreed about of BTC to them.

The term "cashing out" i typically used to refer to converting BTC back into fiat currency.

PS - if you are new to this, please do not get scammed. Do not fall prey to internet scams. Buy from a reliable exchange, or from a person or business that you know is creadible.

I tried to open an account on coinbase or one of those services. Too much humbug. Bitcoin would be so much more popular if it was just easier and more straight forward.

I'm using cashapp. It's tied to your bank account and deposit funds directly into your cashapp account and send it to others also with a cashapp account like Paypal. You can also buy stocks with the funds you have in your cashapp account. There's two separate pages where one says: Deposit Bitcoin   Withdraw Bitcoin. And there's another one on the stock page that looks like this attachment where you: Buy Sell Send (to another BTC holder)

pellius

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Re: Bitcoins - about to hit $5,000 per coin today!
« Reply #3155 on: May 01, 2020, 02:39:36 AM »
If you have coins sitting on an exchange, you can "withdraw" them by putting them into cold storage. You should never keep BTC with an exchange (essentially a 3rd party), for long periods of time. Taken them off the exchange, and put them into
"cold storage" so that you are the only person who can access them (form any country, anytime, any location, provided you have internet access and your "private key" (the secret code that only you should know, that enables the coins to be accessed).

If you wish to sell BTC, (all, or any portion thereof), you can simply arrange for a buyer to give you cash, goods, services, etc, in return for you transferring an agreed about of BTC to them.

The term "cashing out" i typically used to refer to converting BTC back into fiat currency.

PS - if you are new to this, please do not get scammed. Do not fall prey to internet scams. Buy from a reliable exchange, or from a person or business that you know is creadible.

Also, what is "Cold Storage"? Where do the funds go when I withdraw them? What I can tell now is that I have funds sitting in my BTC account. I see the value increase or decrease every second. It took a big jump a couple of days ago and all gone the next day. The only other place I can move my funds is back into my cash app account. Exactly like a Paypal account where you can keep a balance on it, transfer to your bank or another Paypal user, or use it make purchases online.

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Re: Bitcoins - about to hit $5,000 per coin today!
« Reply #3156 on: May 02, 2020, 07:30:10 PM »
John McAfee sticks a dagger in the hearts of crypto lovers:

https://decrypt.co/27447/john-mcafee-virtual-blockchain-talk


"Bitcoin and blockchain were meant to “save us from financial slavery, and from the overburdened government that creates the fiat currency that we are forced to use,” McAfee said. But he doesn’t think crypto will save us this time.

“We are not going to jump into crypto,” he said, because it’s not easy enough to use. “It is not like opening a bank account. You have to spend days understanding what it is and how it works.”

But as far as the markets go, he predicts that the price of Bitcoin will spike ahead of the halving event on May 12. He recalled that in 2016, the last halving event, there was a huge rise in the price of Bitcoin, and then a huge drop. And he believes history will repeat because the same people populate the cryptosphere, and they’re just as greedy as they were four years ago. "



Remember this is the guy that said he's eat his dick if it didn't go to 1 million per BTC. Even he sees the greed ruined any chance of adoption. Same greed the banks operate on, as I've always maintained.

pellius

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Re: Bitcoins - about to hit $5,000 per coin today!
« Reply #3157 on: May 02, 2020, 08:02:54 PM »
John McAfee sticks a dagger in the hearts of crypto lovers:

https://decrypt.co/27447/john-mcafee-virtual-blockchain-talk


"Bitcoin and blockchain were meant to “save us from financial slavery, and from the overburdened government that creates the fiat currency that we are forced to use,” McAfee said. But he doesn’t think crypto will save us this time.

“We are not going to jump into crypto,” he said, because it’s not easy enough to use. “It is not like opening a bank account. You have to spend days understanding what it is and how it works.”

But as far as the markets go, he predicts that the price of Bitcoin will spike ahead of the halving event on May 12. He recalled that in 2016, the last halving event, there was a huge rise in the price of Bitcoin, and then a huge drop. And he believes history will repeat because the same people populate the cryptosphere, and they’re just as greedy as they were four years ago. "



Remember this is the guy that said he's eat his dick if it didn't go to 1 million per BTC. Even he sees the greed ruined any chance of adoption. Same greed the banks operate on, as I've always maintained.

I'm no expert by I am absolutely convinced that the only reason BTC isn't more popular is that it is not easy to use. No matter how many people that use it claim it's easy once you get the hand of it and that the rest of us is just dummies isn't going to help BTC. It's not for the consumer to have to adapt to a system that is not intuitive to them unless the return it huge. People are more use to systems like Paypal. Send, receive, deposit withdraw, all easy as pie and no obscure passwords or id codes that you can't choose yourself and be given one that you can never remember, and if you lose you're screwed and lose everything.

gib

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Re: Bitcoins - about to hit $5,000 per coin today!
« Reply #3158 on: May 03, 2020, 09:09:38 PM »
Pellious - its good you are taking an interest. If you have the time, i urge you to read this entire thread. I have made the comments here for a deliberate reason. You will understand and appreciate once you have read.

You are fully correct that for many, BTC is not yet "easy to use". That will slowly change. We will see a "lightening network" that overlays BTC for daily transactions. We will see more regulated and easy to use exchanges. We are starting to see banks offer BTC. And we will see BTC ETFs enabling "Mom & Pop" investors to buy in. And at certain points we will see frenzies to purchase emerge. My suggestion, and I have made it many times, is that everyone should, if they are able, buy and hold for ever, 1 coin (or a part thereof). Its a hedge for the future which may provide you unforeseen safety, flexibly, and life options, not to mention the possible of extreme wealth.

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Re: Bitcoins - about to hit $5,000 per coin today!
« Reply #3159 on: May 03, 2020, 09:16:38 PM »
It's not easy to use.

It's too volatile for any real business to accept it as funds.

It's ancient technology as far as energy consumed and transaction rate.

The selling points of it being independent money when it first came out have been squashed by banks and govts.

There's more...but that should be plenty enough.

polychronopolous

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Re: Bitcoins - about to hit $5,000 per coin today!
« Reply #3160 on: May 03, 2020, 09:42:46 PM »
It's not easy to use.

It's too volatile for any real business to accept it as funds.

It's ancient technology as far as energy consumed and transaction rate.

The selling points of it being independent money when it first came out have been squashed by banks and govts.

There's more...but that should be plenty enough.

1. It's extremely easy to use once you understand what you are doing.

2. Who cares if "business want to accept it as funds". The whole purpose of Bitcoin is to hoard it like a greedy little bastard, not buy lattes or auto parts.

3. Energy costs - Who cares, the banks waste far more

4. It is independent money and the banks and governments can't do shit about it.

gib

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Re: Bitcoins - about to hit $5,000 per coin today!
« Reply #3161 on: May 03, 2020, 10:00:44 PM »
1. It's extremely easy to use once you understand what you are doing.

2. Who cares if "business want to accept it as funds". The whole purpose of Bitcoin is to hoard it like a greedy little bastard, not buy lattes or auto parts.

3. Energy costs - Who cares, the banks waste far more

4. It is independent money and the banks and governments can't do shit about it.

All these responses are correct.

Someparts - its amazing you don't "get it". But you will.

1 - Interfaces will be created that will make it super easy to use (think fingerprint access via a phone), and virtually instantaneous payments from a consumer facing perspective. (You will not see, nor need to understand what is going on behind the scenes to drive the transaction).

2. Business, and indeed, anyone, will increasingly accept anything of value, especially as use/transferring etc becomes easier.

3 - The irony is that this is what drives the value. Both the ability to create, the cost to create, and of course the total limitation on coins are what drives the value. Gold also costs money to create. On the other hand, printing dollar bills costs virtually nothing  - so given these factors, what currency do you think will increase in value? Further, most of us who own BTC are not mining - rather we are holding and/or transacting. So do not be confused or put off by the expense of mining. Economics takes care of that.

4. BTC is global. And cannot be defeated by any Government as it is governed, ultimately, by mathematics. If there ever in history has been a "power to the people" moment, BTC is it. Again, by the time the masses realize, prices will be much much higher (due to a simple application of supply and demand). Governments nor banks can defeat BTC. So over time you will see a "if we can't beat-em then join-em" approach emerge. This will happen subtly, and before most know it, various banks, governments will own increasingly larger stakes in BTC.

I will say it again. Owning some BTC is your hedge on the future.

Twaddle

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Re: Bitcoins - about to hit $5,000 per coin today!
« Reply #3162 on: May 03, 2020, 10:29:51 PM »
All these responses are correct.

Someparts - its amazing you don't "get it". But you will.

The irony.   :D

pellius

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Re: Bitcoins - about to hit $5,000 per coin today!
« Reply #3163 on: May 03, 2020, 11:06:38 PM »
Bitcoin is actually a coin. You "mine" it? Where? What does it look like and how did it get its value?

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Re: Bitcoins - about to hit $5,000 per coin today!
« Reply #3164 on: May 03, 2020, 11:21:12 PM »
Bitcoin is actually a coin. You "mine" it? Where? What does it look like and how did it get its value?




Griffith

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Re: Bitcoins - about to hit $5,000 per coin today!
« Reply #3165 on: May 04, 2020, 12:39:09 AM »
Bitcoin is actually a coin. You "mine" it? Where? What does it look like and how did it get its value?

No, not a coin or anything physical, just data created on computers and then sold to people, but the data is of a limited quantity and this scarcity is what is supposed to contribute to it's value.

Teutonic Knight 1

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Re: Bitcoins - about to hit $5,000 per coin today!
« Reply #3166 on: May 04, 2020, 01:06:56 AM »


...... not to mention the possible of extreme wealth.




O, yes : ;D ;D ;D ;D ;D ;D ;D ;D ;D ;D ;D ;D ;D ;D ;D O

Teutonic Knight 1

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Re: Bitcoins - about to hit $5,000 per coin today!
« Reply #3167 on: May 04, 2020, 01:15:18 AM »
Bitcoin is actually a coin. You "mine" it? Where? What does it look like and how did it get its value?


After years of imaginary "exsistance" still no mineral example of it  ??? ::) :P


Flexacon

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Re: Bitcoins - about to hit $5,000 per coin today!
« Reply #3168 on: May 04, 2020, 05:43:36 AM »
Let's  keep it real. The recent bull run was most likely fuelled by people who are still getting their monthly pay and those getting government cheques. They didn't have the usual things to spend it on so figured investing in bitcoin would be a good idea. (It won't)

Twaddle

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Re: Bitcoins - about to hit $5,000 per coin today!
« Reply #3169 on: May 04, 2020, 06:43:59 AM »
Bitcoin is actually a coin. You "mine" it? Where? What does it look like and how did it get its value?

Everything you need to know.


OlympiaGym

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Re: Bitcoins - about to hit $5,000 per coin today!
« Reply #3170 on: May 04, 2020, 11:58:13 AM »
What’s a good resource, whether book, video series, etc., for the uninitiated of average intelligence to learn about bitcoin?

Twaddle

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Re: Bitcoins - about to hit $5,000 per coin today!
« Reply #3171 on: May 04, 2020, 12:38:52 PM »
What’s a good resource, whether book, video series, etc., for the uninitiated of average intelligence to learn about bitcoin?

This thread is the only book you need.  Start om page one. 

Teutonic Knight 1

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Re: Bitcoins - about to hit $5,000 per coin today!
« Reply #3172 on: May 04, 2020, 02:37:28 PM »
All these responses are correct.


 On the other hand, printing dollar bills costs virtually nothing 




REALLY  :o :o :o so printing material & printing production is for FREE  ;D ;D ;D

Example: Australian dollar is 'printed' on polymer & 'printer' costs over 200 millions !.

Good 1 Wiggzy !.

Teutonic Knight 1

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Re: Bitcoins - about to hit $5,000 per coin today!
« Reply #3173 on: May 04, 2020, 02:46:49 PM »
All these responses are correct.



4. BTC is global. And cannot be defeated by any Government as it is governed, ultimately, by mathematics. If there ever in history has been a "power to the people" moment, BTC is it. Again, by the time the masses realize, prices will be much much higher (due to a simple application of supply and demand). Governments nor banks can defeat BTC. 




Really  ::), any local  Government can turn off Internet connection & btc is screwed ................

Wiggzy, U are very "streetwise" gifted  ;D ;D ;D


gib

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Re: Bitcoins - about to hit $5,000 per coin today!
« Reply #3174 on: May 04, 2020, 07:53:13 PM »

Really  ::), any local  Government can turn off Internet connection & btc is screwed ................

Wiggzy, U are very "streetwise" gifted  ;D ;D ;D

Lol. Wrong. Even with the internet "turned off", as you put it, the coins continue to exist - the reason being is that they are the function of a mathematical algorithm - a universal truth that will continue to exist forever. Bitcoins can be accessed at any time internet access is restored. Even if all of the US internet was shut down (basically impossible) there is the entire rest of the world that continues to exist, but either way, the coins will be there as soon as access is restored. On the other hand, if your paper money gets lost because you drop your wallet, its gone for ever.

If you are really going to put effort into thinking about idiot examples to discredit BTC, suggest you think about a few more (slightly less) idiotic examples, that will help you see the value in BTC.

Eg:

-All paper currency is prohibited.

-Gold is prohibited.

-Government massively raises taxes (to fund debt or a war).

-Foreign invasion that confiscates physical assets.

-Banking system goes down due to a malicious virus.

-Hyper inflation.

-All Government money goes electronic (meaning all transactions of Govt money are traced).

To anyone reading this (now or in the future) - YOU WERE WARNED. There are good reasons why this thread exists.