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I made a bunch of money off IBM buying out red hat last month, I might throw some of my evil central banker fiat currency into bitcoin so I can insist that its definitely going to be worth $250000000 next week.
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Nov 20, 2018 13:54
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Reminds me of the guy trying to get rich by buying Movie Pass shares.
Lambert fucked around with this message at 14:31 on Nov 20, 2018 |
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Nov 20, 2018 14:10
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It's gotta stop falling eventually. I don't think anyone expected it to lost 1/3 of its value in a week. We all expect it to completely crash eventually, but this doesn't seem like the time. I hope I'm surprised. A nice long decline from now until Xmas would be cool. Would be nice to wake up on Xmas with BTC being sold for pennies.
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Nov 20, 2018 14:49
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Crashes are rarely a linear downward motion, but the long-term trajectory seems pretty obvious. Bitcoin is/was still in a bubble. And there's no such thing as "this is the time" for a crash, they either happen or they don't. This is as good a time as any - there's simply less new money coming in, interest is way down and it's pretty obvious at this point mass-market adoption is never going to happen.
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Nov 20, 2018 14:56
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a lot of the new (audited) stablecoins are now here so I wonder if the drop has something to do with people leaving tether for those. there's a lot of options now that are actually pegged, and that should decrease the pumping power of tether
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Nov 20, 2018 15:14
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Business posted:a lot of the new (audited) stablecoins are now here so I wonder if the drop has something to do with people leaving tether for those. there's a lot of options now that are actually pegged, and that should decrease the pumping power of tether Its because a lot of people clearly decided to do the fork beside black friday together because its a pump and dump idea and wanted an excuse for dips which was plausible on both sides. Its very clearly not money, its just a game of chicken. wit fucked around with this message at 15:53 on Nov 20, 2018 |
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Nov 20, 2018 15:51
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wit posted:Its because a lot of people clearly decided to do the fork beside black friday together because its a pump and dump idea and wanted an excuse for dips which was plausible on both sides. Its very clearly not money, its just a game of chicken. what does black friday have to do with anything
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Nov 20, 2018 15:59
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Huh, turns out there is something out there even dumber than Bitcoin. But only just. https://twitter.com/willsommer/status/1064875576035561472 Bitcoin may soon be over, but dumb people buying into crushingly stupid get-rich-quick schemes will forever be A Thing.
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Nov 20, 2018 16:11
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The fork has literally nothing to do with Bitcoin, that's just a stupid coiner explanation that never made any sense.
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Nov 20, 2018 16:15
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it's like robert frost said, when you come to a fork in the road, SELL SELL SELL
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Nov 20, 2018 16:16
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Ardennes posted:Yeah, Bitcoin is starting to get near the proportional hit it took during the 2014/2015 era. so you're saying it's time to buy?
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Nov 20, 2018 16:22
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Parkingtigers posted:Huh, turns out there is something out there even dumber than Bitcoin. But only just. Sweet momma mohammed these people are unbelieveable morons.
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Nov 20, 2018 16:27
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Parkingtigers posted:Huh, turns out there is something out there even dumber than Bitcoin. But only just. buying the worthless currency of a vanquished foe to own the libs white people love to adopt the trinkets of the people they wipe out don't they
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Nov 20, 2018 16:28
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Business posted:a lot of the new (audited) stablecoins are now here so I wonder if the drop has something to do with people leaving tether for those. there's a lot of options now that are actually pegged, and that should decrease the pumping power of tether The tether pump thing was definitely not as simple as "print tether, buy butts". It would have collapsed long ago if they weren't putting something back into the system. They may have printed $2 billion tethers, but the vast majority of it will still be in accounts that bitfinex itself owns. Heck, some of the best ways they could have made money with the scheme work better when people don't trust tether. When people want a big "hazard discount" to accept tether for their butts, that means it's possible to arbitrage between the low price on the tether exchange and a higher price on a dollar exchange. The risk is that you get stuck with the hot potato when the music stops. But bitfinex is the one playing the music...
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Nov 20, 2018 16:29
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Look on the bright side!
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Nov 20, 2018 16:34
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so what you're saying is...I can buy bitcoin with my dinar 
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Nov 20, 2018 16:37
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Klyith posted:But bitfinex is the one playing the music... https://www.youtube.com/watch?v=a1R8Rx2db9c
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Nov 20, 2018 16:47
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What's the exchange on the Dinar vs the Zimbabwe one?
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Nov 20, 2018 16:47
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Well done everyone, we survived the great bear market of 2018
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Nov 20, 2018 16:52
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Dog Friday posted:Well done everyone, we survived the great bear market of 2018 Hopefully not over, but this is the most it's gone up since the big dip. So yeah, that was probably it for the time being. Now where is it going to level off this time? $6000 again?
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Nov 20, 2018 16:59
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Waltzing Along posted:What's the exchange on the Dinar vs the Zimbabwe one? Zimbabwe got rid to of it's dollar and is using a weird mix of currencies.
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Nov 20, 2018 17:06
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I've thought for a long time that $5k seems like the breaking point. Once Bitcoin falls below $5k, it should be Well And Truly Over. But the HODL morons are really astonishingly resistant to... anything. So who knows. Kinda predicting one last hurrah around $6-7k when Buttcoin people claim everything is happy again and then the currency dives until it's effectively dead. I'm sure people will continue to HODL it forever. It could fall to $.02/coin and there will still be threads popping up with people saying now is the time to invest.
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Nov 20, 2018 17:15
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revwinnebago posted:I've thought for a long time that $5k seems like the breaking point. Once Bitcoin falls below $5k, it should be Well And Truly Over. I think the only way Bitcoin really dies is if we hit a “frisbee on the roof” scenario where the cost of mining the next coin is significantly more than the margin it brings in from selling it, and people shut off their miners resulting in an impossibly long time between coin mining and transaction processing. Otherwise, yeah we’ll have people pushing pennies across the table and pretending it’s a real currency until like 2099 when some kid with a quantum computer breaks it as part of a middle school science project.
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Nov 20, 2018 17:36
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Dog Friday posted:Well done everyone, we survived the great bear market of 2018 What was it down to earlier? I'm not giving up hope until it claws its way back to 5200 or so.
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Nov 20, 2018 17:39
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Ripoff posted:I think the only way Bitcoin really dies is if we hit a “frisbee on the roof” scenario where the cost of mining the next coin is significantly more than the margin it brings in from selling it, and people shut off their miners resulting in an impossibly long time between coin mining and transaction processing. Otherwise, yeah we’ll have people pushing pennies across the table and pretending it’s a real currency until like 2099 when some kid with a quantum computer breaks it as part of a middle school science project. This is pretty much correct, yeah To that point: https://twitter.com/doveywan/status/1064878600594305025?s=12 Chinese miners are saying just under 4K is the breakeven point for the biggest farms, so an extended price plummet far below that might do it (but some of those miners were likely the people propping it up at 6k for a year so...)
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Nov 20, 2018 17:43
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Adar posted:This is pretty much correct, yeah Jesus. It's on an industrial scale. So much waste.
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Nov 20, 2018 17:45
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Ripoff posted:I think the only way Bitcoin really dies is if we hit a “frisbee on the roof” scenario where the cost of mining the next coin is significantly more than the margin it brings in from selling it, and people shut off their miners resulting in an impossibly long time between coin mining and transaction processing. Otherwise, yeah we’ll have people pushing pennies across the table and pretending it’s a real currency until like 2099 when some kid with a quantum computer breaks it as part of a middle school science project. Do only miners do transactions? If not, then at some point every coin will have been mined and all the miners will be shut off. So....how would that be different?
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Nov 20, 2018 18:10
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FUD
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Satoshi bless you and your gimmick
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Nov 20, 2018 18:17
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Waltzing Along posted:Do only miners do transactions? If not, then at some point every coin will have been mined and all the miners will be shut off. So....how would that be different? For bitcoin, that time is sometime in the 22nd century and then the protocol just *waves hands* pays for itself with tx fees. If bitcoin is still a thing as specced today in 21xx the world’s last server farm will be underwater.
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Nov 20, 2018 19:23
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I'm sure some hardcore buttcoin believer thought it would end up in some massive space race type R&D push to mine the last coin.
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Nov 20, 2018 19:26
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Business posted:what does black friday have to do with anything
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Nov 20, 2018 19:33
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I bet the SEC coming for the ICOs has them cashing out so they can pay the investors in DIRTY FIAT MONEY when the investors come calling for their investments valued in USD at the time of their initial investment lol of course, this is good for bitcoin
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Nov 20, 2018 19:51
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ghosTTy posted:Some light for these dark times You should set up target practice in your house with signs that say fud
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Nov 20, 2018 19:52
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Adar posted:This is pretty much correct, yeah loving hell, this is such disgusting waste. Anyone who approves of this should be publicly hanged.
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Nov 20, 2018 20:02
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Yeah well...have you seen the size of a money printer
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Nov 20, 2018 20:06
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capitalism.gif
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Nov 20, 2018 20:17
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There Bias Two posted:Jesus. It's on an industrial scale. So much waste. You're right. They should leave those machines plugged in and guessing random numbers. Much less waste.
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Nov 20, 2018 20:21
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Adar posted:This is pretty much correct, yeah I feel like you could network an entire carribean island and have them all playing Fortnite with this much stuff.
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Nov 20, 2018 20:25
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Another Bill posted:I feel like you could network an entire carribean island and have them all playing Fortnite with this much stuff. None of that hardware is good for anything but bitcoin mining
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Nov 20, 2018 20:30
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