Lol, bitcoin isn't an escape for the poor. The only escape for you would be to obtain a skill, that is special and needed enough, so people will pay you good money for your work. If you have done that, then you can educate yourself further on how to become an entrepreneur and how to use your knowledge to build a team, that can solve even more problems then you could solve alone.
This isn't easy, but you can't beat Darwin. The poor will stay poor mostly if they are only looking for easy shortcuts to riches. They don't want to learn anything or do anything, they just want to become rich. Some people do win the lottery etc. but the cold hard math tells you that the majority of the "lottery hoping folks" will remain poor till the end of their life.

For instance, if you would be educated, then you would see that Bitcoin isn't the savior of the poor. At first, bitcoin value is deflationary, meaning that owning money creates more wealth for you. If you had any basic sense of finance, then you would know that this actually helps the rich, not the poor. Currently it is easy to make money if you have money, but with bitcoin it is even easier. If the currency you are holding is inflationary, then you have to use your money  to start new projects and create new jobs, then your wealth also expands. If you do nothing but sit on your fat bank account, then your wealth will start to shrink. With bitcoin, the rich don't have to do anything but sit on their ass while watching their wealth to expand. And the poor, who don't have much to save up on their bank accounts and who work from salary to salary, won't get nearly as much benefit from this system.

How come you say "it's all over jump on the train to the moon" when you only got 2 hours of green candles and again going down? 

The ugliest truth of bitcoin is that it just isn't useful in any legal fields. Sure it's useful in black markets, but this usefulness is a ticking time bomb before laws will end this. Greed is represented here by the notion that very little people actually seem to care about this. Everyone are solely concentrated on how much higher they want to sell their bitcoins and practical usefulness is rarely asked. Most know a lot about the price of bitcoin, in the same time knowing nothing about the value of bitcoin.

Promises of easy riches will always attract the worst among people. Those who are greedy enough to desire wealth, but who are lazy and stupid enough not to actually be able acquire it. These are the people who have strong desire for wealth, while knowing that they won't ever be able to achieve it in a productive way. They are the ones who are capable in selling their grandmother for bigger gains, because they know that they probably won't get many chances in life.
My guess is that this ugly phase of the crypto world will eventually end together with bitcoin. Total crash of bitcoin would finally disillusion people from finding easy shortcuts to riches here. Only those would remain who are able to work with this market more, then with a "buy low, sell high" routine. The rest will run off to new motivational classes and marketing schemes to find new shortcuts for easy riches.
I have faith in the cryptoasset market in general, but it has to mature quicker or else it will create a big mess.

What ? I... just... huh ?

The main thing I pointed out with this is that bitcoin doesn't actually offer anything practical for doing business.

In this reality these things just don't have the needed mechanics for the job..
Don't take me as a pessimist by this. I think that in the future we will have an cryptoasset that is able to break this currency boundary and will be able to actually offer an predictable value without the need for the support of fiat value.

You praise the blockchain technology in general Bitcoin doesn't equal the blockchain technology. I see that the blockchain technology isn't dependent on bitcoin and bitcoin value isn't guaranteed by the blockchain technology.

Perhaps whoever revived this old newbie account from the grave should change the signature. Right now it reads "Buy Bitcoin"

What's really funny is, that this account, was actually once created as an over-the-top parody of an typical bitcoin zealot. And even if it is totally over the top, it is still indistinguishable from an actual real bitcoiner  

What's really funny is, that this account, was actually once created as an over-the-top parody of an typical bitcoin zealot. And even if it is totally over the top, it is still indistinguishable from an actual real bitcoiner  

The main thing that gives bitcoin value is belief. Belief has to pay for about 5 billion dollars per year for electricity and hardware to run a payment network with 5 million users. That is a lot of weight on belief and belief can only do so much. Unnecessarily expensive and outdated systems like BTC PoW mining are dragging this market down.

The main thing that gives bitcoin value is belief. Belief has to pay for about 5 billion dollars per year for electricity and hardware to run a payment network with 5 million users. That is a lot of weight on belief and belief can only do so much.

Is there anyone else, who comes here just to see the hardcore bitcoiners being mad at the world for not buying their virtual units? Am I the only one? Is there something wrong with me that I enjoy observing entitled people not getting what they want? So many self-aware questions rise in this place.

No you are pretty much one of the very few poisonous imbeciles with poisonous trolling posts around who feels the need to piss on other people's parades.
Congratulations.

Yes I would say there is something very wrong with you.

Hopefully you will GTFO.

Maybe you can troll a banking interest forum where people are having orgasms at making 2% per year profit on their savings instead.

You are using a lot of profanity. You were a lot softer a couple of years ago. Before your avatar picture I actually thought that you are a girl and thought on hitting on you. So, what happened in the meantime? Hit puberty and testosterone is finally doing it's thing or something?

I have never called the time for the end of bitcoin. Bitcoin will end when the governments will finally crack down on exchanges creating funny-money to pump bitcoin. As long as people ignore things like goxdollars or tether,  then there is no height high enough. One thing is certain though - the governments will crack down on fake money exchanges and greater fools will also run out eventually. Then I'd like to see the bitcoin fanatics pay for the 7billion dollar revenue to the miners, just to sustain the network. So, I have no idea when will bitcoin crash, but I know that it will crash, and it will do it with a lot of tears from people who mostly deserve whats coming.

I usually surface here when the probability to witness bitcoiner tears is high, so timing would fit.

blah

Why would you talk to someone who just stated that he has you on ignore? Are you missing a few brain cells?

I asked my investment advisor in 2011 if I should invest in Bitcoin. He just laughed (after I explained what it was). He was like...."you Ron Paul guys...".

This is a popular form of whataboutism, that I have heard here before. People trying to justify the costly nature of bitcoin by comparing it to the incomparable. Just like you did here, by comparing the worlds nr1 athletic event with 3,6billion viewers to a speculative digital asset and with maximum 5 million active users.
The costs of running the bitcoin blockchain should be compared to the comparable - meaning to the costs of other blockchains!

At first, bitcoin blockchain is centralized around pools. 3 pools are enough for a 51% attack. That makes bitcoin as centralized as most and more centralized then some.
Second, centralization will only matter to low educated millennials, who are dumb enough to actually believe the "bitcoin vs fiat" sales pitch BS narrative. In the real world of fiance and economy, what counts is efficiency, not fantasy.

I'm here for the tears of bitcoiners and sometimes some rainmaking is needed. Also, the sentiment here can also be a good indicator to help with my crypto gambling habbits.

At first, bitcoin blockchain is centralized around pools. 3 pools are enough for a 51% attack. That makes bitcoin as centralized as most and more centralized then some.
Second, centralization will only matter to low educated millennials, who are dumb enough to actually believe the "bitcoin vs fiat" sales pitch BS narrative. In the real world of fiance and economy, what counts is efficiency, not fantasy.

*collects tears when everyone are busy crying*

I don't think that government regulations will pose a real threat anytime soon. They know for years already, that bitcoin is mostly used for illegal activities like drugs and child porn, but they aren't doing anything about it. They're possible the same people, who profit most from all this money laundering and the creation of a make-believe industry, that adds value to their fiat money. If they really wanted to stop this, then all of this would be worthless in a month.

In all honesty, I myself have always considered a 51% attack on any PoW or PoS coin a very low key threat. I was just replaying to the previous poster on why bitcoin isn't special in decentralization.

2014 was mostly in fiat. Tried a little with PPC and LTC, but got out as soon as I was sober. ETH earned most in 2015, XRP and EOS earned most in 2017

The size of overall hashrate doesn't mater much if the network is distributed between pools.

Most people in finance see the bitcoiners that come with bitcoin as dead weight. They are interested in shaping the technology and using it to personal advantage. No one is interested in making a bunch of people rich just for purchasing a digital token. And they can't be blamed for this because in the capitalist world we live in, it's the only logical choice. "The loyalty of Bitcoiner" isn't exactly higly valued, because well, bitcoiners come to the market mostly to consume, not to create.

I think that the overvaluation in bitcoin is currently supporting the overvaluation of fiat, and most people in finance realize this and it's benefits.

I don't think that the motivation to mine bitcoin is a good thing. It promotes wastage of energy and creation of equipment that only solves one problem and that problem doesn't even have to exist. This energy, effort and resources could be used with a lot more common sense.

I'm here for the tears of bitcoiners and sometimes some rainmaking is needed. Also, the sentiment here can also be a good indicator to help with my crypto gambling habbits.

centralization will only matter to low educated millennials

Thank you for the well written reply.

It is possible that I am clueless regarding bitcoin. I just don't find this possibility highly probable. I think that the mentality involving bitcoiners is a little religious and therefor can be irrational and unpredictable. That is why I also often get surprised here.

I think that the overvaluation in bitcoin is currently supporting the overvaluation of fiat, and most people in finance realize this and it's benefits.

I don't think that the motivation to mine bitcoin is a good thing. It promotes wastage of energy and creation of equipment that only solves one problem and that problem doesn't even have to exist. This energy, effort and resources could be used with a lot more common sense.
Yeah, you would have better return alone, already by just losing pool fee. But sadly bitcoin isn't built in a way that it could be mined alone. Centralization and specialization were inevitable with the coming of ASICs and that was a big part of the reason why I lost faith in bitcoin. I see bitcoin ASIC mining as a foolish rat race that should not exist under the rule of common sense. All of this was about finding the cheapest solution to offer the most, now it's totally upside down.

But thank you again for the well written post. I don't see many of them here. I did enjoy reading the stats that you showed, but I just can't agree that motivating bitcoin mining is a good thing.

Give me enough tears and I will go, I promise!

So, you guys ready for more tears or do you need a break?

No no no.. this is too fast.. You never milk a bitcoiner for it's tears too quickly, or else it will get stressed and will stop producing tears. What you do is make them cry just a little to get you satisfied and then you wait until the subject is rested and recharged and then you repeat the process. Overall yield for tears is times bigger like this.

Cool name. Proof of stake coming... new tokens every day on the blockchain, dapps

Although true, I was under the assumption that Tether had alot to do with the initial pump in OCT.


Also I don't follow twitter and This 300 MILLION USDT was created Yesterday.

https://omniexplorer.info/tx/f3efac4b6203248fc06e2788b61e732319a6e596768f5240680f944780ff84f4

Even if ETH has been my biggest earner, I have to agree that it is also running out of potential like bitcoin did in the past. In all probability, EOS will eventually make it obsolete. My senses tell me that EOS will get the most hype because of this in the coming year or two.

Any cute chicks here looking for a fatherly figure to tell them about the magick of crypto?

Do you police everyone your own kind? Do you also deserve collective punishment for the crimes of your kind?

I'll tell you a little secret. Racism or any other expression of generalized hate is mostly created by criminals, who want to hide specific criminal names and faces in this opaque fog of generalized hate. Crooks never care about anyone but themselves. They don't care about others, with who they share their race, nationality or culture either. They mostly work with other crooks, not caring about their race and background either. The only thing they care about is how useful other people can be. Crime is without borders and colors like that.
People who spread racism are very useful to the same crooks. If someone is attacked by loud racists without substance long enough, then this someone will eventually be also immune to constructive criticisms. If someone is attacked with nonsense long enough, then others expect that all attacks towards that person is nonsense, even if it isn't.

Difficulty may fall, but the amount of equipment built won't fall. Bitcoiners are dumb thinking that difficulty just drops and some people just turn off their machinery. Who will those people be? Most of the bitcoin mining is done by specialized mining companies, that have a very specific business plan and expectations. These companies will go as much in debt as possible, just to keep the machines alive, because considering production logic, just turning off the purchased machinery is the worst option.
First ones to fall will be those, who will run out of credit and their collected coins "that were meant to be sold in better times" will be dumped on the market by bankruptcy proceedings. This will in turn create a chain reaction of price dropping more together with difficulty.
Bitcoin mining is heavily flawed because it's too expensive and it's attributes create an instability timebomb. Satoshi may have been a good coder but he was pretty dumb in economics and finance.

PoW mining would only work if it wouldn't be cheaper to mass-produce coins. Then decentralization would also work. Rewarding mass production PoW mining is idiocy at it's best.

I nominate JayJuanGee for Lord of the Pigs.

Yeah, and the electricity costs are still 5billion $ a year (7$ billion overall revenue). And this is the point I was making in the start, that you tried to stear away. Your childish demagogy won't work here. 7 Billion still needs to be payed to miners every year just to keep this crap afloat.

Yeah, and the electricity costs are still 5billion $ a year (7$ billion overall revenue). And this is the point I was making in the start, that you tried to stear away. Your childish demagogy won't work here. 7 Billion still needs to be payed to miners every year just to keep this crap afloat.

Exactly. There is no option for stability and keeping present value. It either has to expand, or it will start shrinking very quickly. It's really like a pyramid scheme in that manner.
If coin production would cost less, then the price would drop as long as the speculators are selling and then it would stop. With high production costs it won't stop, but will squeeze every juice out of this thing as possible.

So many pigs in here, trying to hope a trend reversal out of nothing. Just like in 2014.

So many pigs in here, trying to hope a trend reversal out of nothing. Just like in 2014.

Even if it dropped 4x during that year, it was such a good year for bitcoin. <--- a typical bitcoin pig logic.

Glad to see you back in this thread. I think that when not considering JayJuanGee, then you are the most entertaining pig here. You always found very creative reasons to justify yourself being wrong again.

You seem proud of your vast wealth. It's good to see someone who can do that since his taxes are all in order.

Sadly, you are a little more curious about this subject them I am.

windjc gave excellent advice back then.  I remember clearly, thinking it was probably a good idea to follow.  Wish I had 

Bitcoin amazed everyone by going to heights that was thought to be impossible. Soon it will amaze everyone again, by dropping to levels that was thought to be impossible.

Even if it dropped 4x during that year, it was such a good year for bitcoin.

I really can't.. bitcoiners could help me by being a little less entitled, self-righteous, greedy and dumb. Maybe then their tears wouldn't taste so good? Who knows..

You are mistaken with something. I stopped playing with BTC in 2013, not 2015. It has been a profitable decision.

Nice try, friendo, but the detailed numbers of my little gambling funds will remain private. I shared the same fortune as anyone who bought potential alts instead of bitcoin. Even LTC has had a lot better gains and LTC is almost as old and outdated as BTC. Only the BTC cultists seem blind of the fact that there aren't many cryptos out there that earn less then BTC during bull markets.

Like I said, bitcoiners tears taste the best.

So, you guys ready for tears or will we wait till Wednesday?

So tell us Jacques, what’s the price going to do this week?  Give us some hard numbers to work with.  

And while you are at it, tell us what’s going to happen in the second half of April.  I will happily accept a price range for that period.  

 If you want to make a contribution, provide some analysis.  Provide reasons.   Otherwise it’s just a circle jerk. 

Yet, you are the one trying to troll me.. a crazy world we live in.

Like I said, no one knows the certain direction of this beast. I'm also wrong sometimes, not often, but sometimes I truly am. If you have to be wrong, then you better be wrong when it won't cost you money. Although, I haven't seen any tears yet, we shouldn't forget that today is not over yet. Luckily, your eager enthusiasm and feeling of certainty encourages me. Maybe we'll still see some nice bitcoiner tears. Maybe we are so lucky..

I have to agree that the entire bcash project was about putting a band-aid on a turd and saying that now it's no longer a turd, but something totally different. PoW ASIC mined coins all have inefficient and dated tech. The changes from bitcoin to bitcash were too small for it's existence to justify itself.

DAVID ROCKEFELLER THANKS MEDIA FOR ITS SILENCE
-- David Rockefeller, Speaking at the June, 1991 Bilderberger meeting in Baden, Germany (a meeting also attended by then-Governor Bill Clinton and by Dan Quayle--

"We are grateful to the Washington Post, The New York Times, Time
Magazine and other great publications whose directors have attended
our meetings and respected their promises of discretion for almost
forty years."

"It would have been impossible for us to develop our plan for the world
if we had been subjected to the lights of publicity during those years.
But, the world is now more sophisticated and prepared to march towards a
world government. The supranational sovereignty of an intellectual elite
and world bankers is surely preferable to the national
auto-determination practiced in past centuries."

by: David Rockefeller (1915- ) Internationalist billionaire, CFR kingpin, founder of the Trilateralist Commission, World Order Godfather
Date: June 1991 Baden, Germany
Source: Bilderberger Meeting, Baden, Germany

And if the exchanges can wash trade a dead coin like BCash up to $1000+, just think what they are doing to the price of all the other shitcoins out there?

<<Shudder>>.

Without wash trading, BTC would probably still be in double digits. Wash trading is the master of all crypto. Goxdollars were created because Karpeles tried to wash trade with willybot, but proved too incompetent for the scheme to last.
This is also one of the reasons why I find winklewii funny. They actually didn't know about all the wash trading going on in the market system. When they opened gemini, then they couldn't believe it that there is was no volume and they couldn't understand why. Was funny as hell.

Bitcoin market will always be a little chaotic, because of the unknown.
For instance any drug dealer, who did tor market business during 2010-13 and got imprisoned for that, will probably have loads of coins left in cold wallets, waiting to be dumped. Autistic people, who live in their parents basements and have no conception of wealth, could now be bitcoin whales with a lot of weight on the market. That is why things don't often make logical sense here. Lots of people out there who are inexperienced in dealing with wealth.

Sorry guys, but tears shouldn't come as a surprise in this situation.
This will probably bounce back to somewhere near 7100$ over the weekend and then tears will continue. You can't just hope a trend reversal out of nothing.

The crypto game goes like this. A group of people, who have the largest ownership of coin, are coordinating their moves in a way, that profits them best. Over the years, they have acquired over half of bitcoin available, while more then a half of the largest volume exchanges are owned by the same people and the public CEOs are just fronts. They can deficit the supply, create dollars out of thin air and if they wanted to, then drop bitcoin price sub single digits and actually keep it there. The last part isn't their goal tho. Their motivation is to siphon wealth out of people through the crypto game. The best way for this would be for a quick pump, followed by proper media coverage. This will attract gamblers who hope for easy riches. So, when the market is saturated enough with noobs, then it needs to be slowly bled and total desperation is essential on the outcome of things. You don't drop the market quickly, because this would create panic and would push the gamblers to take their money away. What they do is they control the price enough that there will be -20% slow drops, followed by +10% quick gains. Many people here are a little nuts from the religious aspect of things, so they keep parroting that this every +10% is actually a reversal. But not all is so innocent and a lot of the "friendly avarage Joe bitcoiners" that you see in this place, are actually sock puppets of rich guys and smart guys doing psiops to keep the actual average Joe involved.
The main target in this game are people who are taking mortgages and are playing with more then they can lose. They can't afford to be patient and can be easily hooked. During this whole year, they aren't selling because dealing with the current losses is too much for them. They are too emotionally involved and that clouds their judgment.

I hope you guys remember to sell on the weekend pump. My guess is that the top will be at around 7100-7200$

I hope you guys remember to sell on the weekend pump. My guess is that the top will be at around 7100-7200$

yeah, it was pretty wild

not a thing you would really call "recreational"

There just is no continuous aging process when it comes to Asian women (at least the good looking ones). They eventually flip to "old" mode once they turn I don't know, 80 or something.

When has that ever happened, that new, technologically more advanced and efficient products replace the old ones in some industry?

Sorry, Tera - not a 'well-researched' article:

'Case in point, coder Peter Saddington, 35, bought a Lamborghini three years ago for $200,000 with 45 bitcoins'

And years ago, the price of a bitcoin was....?

Is it true that bitcoin is failing because it is running out of greater fools?
Like I feared, BTC is ruining it also for more interesting concepts like EOS 

BTC is ruining everything even old people are beginning to feel that there could be more to crypto then greed and greater fools. Luckily, we still have slow people and people who aren't retarded enough that their intellectual disabilities won't keep them from operating a computer. I hope that they will take on more loans to keep BTC price afloat so that EOS can keep doing it's 2018 thing. *keeps fingers crossed*

Bitcoin is the original shitcoin The whole crypto game is just one big bubble, with very little practical value created and mostly held up by high hopes and ignorance. I didn't get caught in the BS sales pitches with BTC when I played it, and I still don't do it with new alternatives. Just ride the waves of hype and have fun while playing it is my moto. Believing any of this is for people who invest in buying lambos

I bet you feel proud

May I ask in what field do you work in?

My respects to anyone whose work is about creating real value and developing the economy. Then you must also see this (crypto) as a fun game and not take things overly serious

Goes against the grain here but I have always said for me personally I use crypto for short term gains then plough the profits into gold for the mid to long term.

In the future I see crypto being banned with state issued and controlled crypto being the legal alternative.

Most will disagree but no one has a crytal ball and time will tell.

I'm not a big fan of investing into precious metals with highly speculative markets, but BTC vs gold, I would choose gold. Bitcoin may be limited, but it is also easily replaceable. This makes it's value far more fragile.
With PoW vs PoS, the environment isn't an issue, but the cost of production is an issue. It's all about the numbers, talks about the environment is just for PR.

Gold isn't a very good monetary asset, since it's market is speculative and that makes it unstable. But bitcoin would be far worse, because unlike gold, it has virtually 0% intrinsic value. Stability is what the monetary system needs, because that is very important to develop the economy.

Firstly, I said that bitcoin would be far worse to use as gold as an monetary asset, because it has no intrinsic value, and that creates more instability. Now when you are telling that intrinsic value doesn't exist, then you are either trolling me or just confused Intrinsic value is based on the important needs of society. Electronics is a very important need in today's society. Telling that intrinsic value of gold is bullshit, is saying that we could very well live without electronics. Yeah you could. There are plenty of people living like that in PNG, go visit them and see how well their economy is doing

Please don't try to provoke needless arguments with me. While talking with markj113, I really felt good that I'm talking to someone who isn't a religious fiend. Please don't ruin this experience for me Bad intentions bring out the worse in me

Nice pieces, but aren't their historical value higher then the value of their gold content?

Do you even listen to yourself?  Intrinsic value is based on the needs of society....  
How do you call the needs of a society "intrinsic" to a piece of gold?  
And then you call me confused...

Intrinsic value is based on the important needs of society.

I'm mostly a fan of simpler metals, like aluminum, steel and titanium. I need to see it formed into something, this calms my mind
It's a pleasure to talk to you, because you seem to understand the game. Even if our views on some things are different, it doesn't matter, because we are able to express ourselves in a respectful and constructive form.
I'm not proud of it, but I mostly come here to troll. Religious people have always brought out the troll in me, and I haven't found a better way to converse with them yet. From time to time, it's a pleasant surprise to see that you can actually express yourself as an human being and it will be understood.

Most of bitcoin value is based on peoples hopes of it being more valuable in the future. Greed is a very fragile pillar in my book - it goes as quickly as it comes. Far more fragile then the need of electronics in today's world to stay competitive, or even when comparing it to the tradition of jewelry, then bitcoin greed is still a fragile pillar. And it's kind of ironic to hear from a bitcoin fanatic, that electronics isn't important to everyone And I already said that there are people who don't value electronics. In PNG there are plenty of people like that, go see how they're doing. The monetary system has one goal, and that is to allow modern economy happen. The economy creates value, the monetary system helps the economy to do so. And the best help comes from the monetary system that is most stable.

But the point I'm trying to make is, we don't give a shit what you own dude. Only you do. Which is probably why you don't have a friends. Or a girl. But I'm wondering if your ego actually can fit inside your house.

Roger Ver, is this one of your sock puppet accounts? Sure seems like it.

Could we just agree, that we aren't stimulating each other enough to keep this conversation going?

What no tool vanity plate to go with it? Lol

If you have lambo, good for you. You're now part of the tool club along with Ver and CSW.

I have a paid off house and still millions worth of bitcoin. So tell me why I would be bitter again?

No sure how any of that makes sense as a response to what I said.

Anon136 doesn't seem like a fanatic, but the subject he wanted to discuss about didn't currently seem interesting. You do seem a little fanatical tho..

And it's kind of ironic to hear from a bitcoin fanatic, that electronics isn't important to everyone