Bitcoin Daily Discussion, February 02, 2018 |
- Daily Discussion, February 02, 2018
- [Video Presentation] Bulletproofs - Benedikt Bünz
- Hodlers currently
- Holders Power
- Is it legal to sleep in one's Lamborghini parked on the street?
- Lesson - History of Bitcoin crashes
- Buyers and sellers today.
- Remember: you need to panic sell now to lock in your losses.
- Goku is back
- Bitcoin ban be like
- sold all my btc at 750 in nov 2016, then bought back in december 2017 at 18.5k
- How everyone invested in crypto feels like right now
- Make sure and take advantage of this deal while it lasts! Best price this year!
- A lot of you forgot why we bought into btc in the first place
- Remember when you said you were going to buy the dip?
- PSA: If your only source for Bitcoin talk is reddit you should probably just turn your computer off.
- Just believe
- Seen at my local Micro Center
- When it’s February 1st but the January dip isn’t over.
- Let me tell you a story about Billy, $7 bills, and autism
- I wish you all adieu
- The Lightning Network quietly surpasses over 1000 open channels on mainnet.
- If Bitcoin returns back to $20,000 by Christmas..
- 8.3k breached!
- Iam indian and india is not banning bitcoin and other cryptocurrencies at all
- Our biggest obstacle is no longer scalability, but misleading information, "fake news." This video is only ONE of the MANY going viral right now on Twitter, misleading newbies about the Lightning Network. This must stop.
| Daily Discussion, February 02, 2018 Posted: 02 Feb 2018 02:00 AM PST Please utilize this sticky thread for all general Bitcoin discussions! If you see posts on the front page or /r/Bitcoin/new which are better suited for this daily discussion thread, please help out by directing the OP to this thread instead. Thank you! Daily threads are fast paced! If you don't get an answer to your question, you can try phrasing it differently or commenting again tomorrow. Suggested Topics
Your price screenshots and repetitive submissions are being removed, so please stop submitting them! Please check the previous discussion thread for unanswered questions. [link] [comments]  | ||
| [Video Presentation] Bulletproofs - Benedikt Bünz Posted: 30 Jan 2018 05:38 PM PST
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| Posted: 01 Feb 2018 03:32 PM PST
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| Posted: 01 Feb 2018 07:24 PM PST
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| Is it legal to sleep in one's Lamborghini parked on the street? Posted: 01 Feb 2018 04:38 PM PST | ||
| Lesson - History of Bitcoin crashes Posted: 02 Feb 2018 01:48 AM PST Bitcoin has spectacularly 'died' several times 📉 - 94% June-November 2011 from $32 to $2 because of MtGox hack 📉 - 36% June 2012 from $7 to $4 Linod hack 📉 - 79% April 2013 from $266 to $54. MTGox stopped trading 📉 - 87% from $1166 to $170 November 2013 to January 2015 📉 - 49% Feb 2014 MTGox tanks 📉 - 40% September 2017 from $5000 to $2972 China ban 📉 - 55% January 2018 Bitcoin ban FUD. from $19000 to 8500 I've held through all the crashes. Who's laughing now? Not the panic sellers. Market is all about moving money from impatient to the patient. You see crash, I see opportunity. You - OMG Bitcoin is crashing, I gotta sell! Me - OMG Bitcoin is criminally undervalued, I gotta buy! N.B. Word to the wise for new investors. What I've learned over 7 years is that whenever it crashes spectacularly, the bounce is twice as impactful and record-setting. I can't predict the bottom but I can assure you that it WILL hit 19k and go further beyond, as hard as it may be for a lot of folks to believe right at this moment if you haven't been through it before. When Bitcoin was at ATH little over a month ago, people were saying, 'it's too pricey now, I can't buy'. Well, here's your chance at almost 60% discount! With growing main net adoption of LN, Bitcoin underlying value is greater than it was when it was valued 19k. [link] [comments]  | ||
| Posted: 01 Feb 2018 07:31 AM PST
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| Remember: you need to panic sell now to lock in your losses. Posted: 01 Feb 2018 10:44 AM PST If you bought above 17K you'd be a fool not to sell now. Otherwise, how can you realize your losses? [link] [comments]  | ||
| Posted: 01 Feb 2018 08:34 AM PST
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| Posted: 01 Feb 2018 05:22 PM PST
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| sold all my btc at 750 in nov 2016, then bought back in december 2017 at 18.5k Posted: 01 Feb 2018 05:31 AM PST kill me now 😢 edit for those curious: basically i sold at that time cause i thought there was no way it could go higher. i thought after the big crash from the previous ATH that bitcoin would never go over a thousand again. Then it kept climbing. I watched from the sidelines while several people I knew made huge returns and it made me sick that i sold. Right before the all time high I couldnt stop thinking about this mistake I made and I FOMO'd. I convinced myself it was going to 100k. so I bought back in [link] [comments]  | ||
| How everyone invested in crypto feels like right now Posted: 01 Feb 2018 05:48 PM PST
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| Make sure and take advantage of this deal while it lasts! Best price this year! Posted: 01 Feb 2018 05:46 PM PST
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| A lot of you forgot why we bought into btc in the first place Posted: 02 Feb 2018 12:31 AM PST Let's remind ourselves here why we bought btc in the first place: a censorship resistant and permissionless system where no fucking institution tells me with whom I am allowed to transact with. This is an investment that bets against a repressive system built and maintained by corrupt governments and corporations that serve their own needs. If you still haven't grasped this then please sell all your coins and GTFO. [link] [comments]  | ||
| Remember when you said you were going to buy the dip? Posted: 01 Feb 2018 11:49 AM PST | ||
| PSA: If your only source for Bitcoin talk is reddit you should probably just turn your computer off. Posted: 01 Feb 2018 09:52 PM PST Experienced traders are setting buys 7k-8k, expecting a reversal once substantial support is reached. Just turn your computer off if you have no one to talk to about this, otherwise you'll panic sell. Or panic sell, who am I to tell you what to do? I've already set my exit numbers and moved them down twice, you should have as well. Be like me, drink whiskey and sit this one out. Actually on the bottle its spelled "whisky". Every fucking comment on reddit is "it's going to 0!!!", it almost feels coordinated. Those taunt threads saying "OHH YOU SHOULD HAVE SOLD" YEAH NO SHIT. NO SHIT I SHOULD HAVE SOLD. I SHOULD HAVE SOLD MOMENTS BEFORE EVERY SELL AND BOUGHT MOMENTS BEFORE EVERY BUY BUT YOU KNOW WHAT NOT EVERYBODY IS AS COOL AS YOU. You only sell in a bear market if you are a good day trader or an illusioned noob. The people inbetween hold. In a zero-sum game such as this, traders can only take your money if you sell. [link] [comments]  | ||
| Posted: 01 Feb 2018 12:54 PM PST
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| Posted: 01 Feb 2018 05:58 PM PST
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| When it’s February 1st but the January dip isn’t over. Posted: 01 Feb 2018 08:20 AM PST
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| Let me tell you a story about Billy, $7 bills, and autism Posted: 01 Feb 2018 01:47 PM PST I'm going to explain how market valuations work, how pricing works and is determined, and I'm going to do it by telling you a story about Billy, $7 bills and Autism. My apologies for autism insensitivity. Billy is a fucking retard that grew up with no friends. Sure Chad and Fuckface (unfortunate name) grew up on his street, but they never took Billy seriously, mostly because he was always eating glue. These kids grew up and Chad married his high school sweetheart and became mayor of shitville. Fuckface, despite his shitty parents was a pretty smart kid and ended up getting 8 PHDs and a great job on Wall street. One day, Billy got bored of tanking on his meat and went for a walk in the woods where he found a door under some leaves. He went inside and found a factory and a bunch of spooky skeletons. The factory made $7 bills, and there was 10 million of them. Billy got pretty happy about this and went around trying to buy some fidget spinners in town but nobody would accept them as legal tender. Billy was sad. His bills were worth zero. One day his toilet clogged because he tried flushing his $7 bills in frustration so he called Derek the plumber. Derek offered Billy $1 per bill, but only had $1000 to spend. Billy gladly accepted. Derek unclogged his toilet for him. Billy didn't know it (he's fucking retarded after all) but his $7 bills marketcap was now $10M, even though only $1000 was spent. It had risen to this because Billy had found a buyer willing to pay $1 per bill, thus that is the value of his cache. Billy, being a retard, thought his bills were still useless but Derek kept coming over once a week offering to buy some bills for $1 each. Eventually word spread around town and he had many people knocking on his door. Oddly enough, even though now $10000 had been spent, when he checked CMC he noticed that his bills marketcap was still only $10M. He thought this was strange so he decided he would stop giving away his $7 bills for $1. The total amount of money he made so far was $1000, or rather $900 because he still owed Chad $100 for the $5 loan he took out back in 1982 to buy his green turtle pool that Billy still bathed in. Or at least that's what he believed. In fact his paper portfolio was very likely "worth" much MUCH more ($7 bills and all. However since Derek was the only seller, and since Billy was gladly accepting $1 each, and since Billy represented 100% of all sellers, his erroneous perceived value of $1 actually made the $7 bill worth $1 in reality, regardless of what number is printed on the face of it. You see, if I haven't mentioned this already, he's a fucking retard. Now the citizens of Shitville, being not much smarter than Billy, decide that he must also be right about the value of this $7 bill (being worth only $1, because seriously, who makes a $7 bill anyways?). So the town has generally agreed that these $7 bills should be worth $1 each and stores even start accepting them as barter. As time goes by, Fuckface returns home from the big city. He hears about this new bill and investigates. It turns out these are the real deal, and even have official serial codes n shit. He still doesn't think anyone outside shitville is stupid enough to buy a $7 though. Nonetheless word spreads around town that Fuckface thinks these are real. People start offering $2 a bill, then 3, then $4, etc. You see this is how the value of an asset is determined. Something is only worth what the general consensus believes it is worth. Time goes by and price has risen above $7 to $10. These have some cool art on the after all and they have become a status symbol. Sure it says $7 on it, but when Billy takes it to Fred the grocer, Fred let's him take home $10 worth of pornmags so who cares? Chad gets wind of this and calls Fuckface up. Fuckface starts seeing people in the big city start carrying these $7 bills around as a fad. Fuckface and Chad are no dummies though, but they kind of want a part of the pie. It turns out these have value more than the $7 printed on them because they are rare as fuck and are collectables. Chad and Fuckface, after being sad that they missed the boat, come up with an ingenious plan. The next day at the council meeting, Chad announces that the factory condition these were printed in was dangerous. Anyone holding the $7 bills were very likely to catch autism. As news of this meeting (and that super smart and handsome Fuckface backing it), all autistics in shitville who are unable to think for themselves believe these bills cause autism. All of a sudden what was once a 100M market cap bill crashes to $20M, $2 per bill, literally instantly. It could have crashed to zero, but you see many people in town, being already fully autistic, are unafraid. Every single autistic person now controlled all these coins. Except for two others, you guessed it, Fuckface and Chad, who gobbled up as many as they could. The market cap is now $20M. A day later, one autistic sells a coin to another autistic (one single coin) for $1. The market cap is now $10M. Now $1M did not exit the system. Only $1 did. You see, once the General consensus was that people should no longer trade a $10 bill for this new $7 bill, and even worst it was only worth $1 coin, the "value" immediately fell to that point. This happened the very second one of the autistics were able to get their hand on one single bill for $1. The seller determined he would meet the sale price, and since nobody else was willing to buy it for $2, the entirety of every single bill is now worth $1 each until people decide otherwise. It remained at this value for a long time, as nobody was brave enough to get autism, not even Chad and Fuckface, because they just took a 50% hit and were afraid only autistics would buy their coin, and only for $1 now. Billy, after starting with 10 million $7 bills no longer has any $7 bills. Despite being fully autistic, he was afraid to keep any $7 bills because of double autism reasons. Regardless, Chad and Fuckface assess their situation and realize they are surrounded by idiots and that they are the only people that know that $7 are truly legit. fuckface, who is greatly respected, makes a press announcement that he has conducted research, and his 53 PHDs conclude that the $7 is both totally legit and free of any autistic pathogens such as trace vaccinations. Long term, the $7 bill returns to its full value, and even a bit higher due to its rarity. You see, Fuckface fell down the stairs carrying his bags and died on impact. His entire stash was auctioned off and people paid extra for this collectable, because he scribbled a minuscule dickbutt in the corner of every bill and signed, "Bamboozled - Fuckface". TLDR - don't let Fuckface convince you that your $7 bill is worth $1, because the moment you do, that very second, IT IS. Even if little to no money actually left the fucking system. You. fucking. Autistics. [link] [comments]  | ||
| Posted: 01 Feb 2018 03:10 PM PST
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| The Lightning Network quietly surpasses over 1000 open channels on mainnet. Posted: 01 Feb 2018 06:30 AM PST https://lnmainnet.gaben.win/?100= Lightning is quite possibly the biggest innovation in crypto in years. Lightning can do what no other altcoin can ever dream of; unlimited transactions per second, truly instant confirmations, and all backed by high level of security. Lightning is going to be future of online payments. The developers deserve a lot of credit, as do the brave souls risking their Bitcoin to trailblaze this new network. Great work everybody. On a side note. It's funny how throughout November and December, despite all the FUD about Lightning being "vaporware", segwit adoption stalling, blockchain congestion, and sky high fees, we saw unprecedented price growth, up to $20k. Meanwhile, now that the congestion is gone, fees are down to pennies, segwit adoption has increased, and Lightning is here and growing fast, we see falling prices. This market is extremely irrational. Hodl on tight. It's a good sign when devs are quietly making amazing progress amidst price drops. It's just setting us up for the next big bull run. [link] [comments]  | ||
| If Bitcoin returns back to $20,000 by Christmas.. Posted: 01 Feb 2018 11:54 AM PST I will buy all of my annoying "I told you it was a bubble" coworkers of mine a bouquet of tulips for Christmas [link] [comments]  | ||
| Posted: 02 Feb 2018 01:05 AM PST | ||
| Iam indian and india is not banning bitcoin and other cryptocurrencies at all Posted: 02 Feb 2018 01:23 AM PST The finance minister of india just wanted to say that he want to stop the corruption happening with the use of cryptocurrencies. And even if he states that India is banning bitcoin still it wouldn't happen because our Indian party called BJP always gives fake promise and never ever implies what they tell. For eg : our prime minister Narendra Modi promised to give every citizen of India 1500000 Rs Equals like 30000$ after getting the black money , but he failed to do that. So there is no way that bitcoin would be banned india. And even if bitcoin is banned in India there are only few exchanges in India which won't even effect the prices of bitcoin too much. The price is only declining because of constant panic sell by the whole world. India is not the world. Don't panic sell ! And crypto hatters can comment shit I don't give a fuck ! [link] [comments]  | ||
| Posted: 01 Feb 2018 07:33 PM PST
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![[Video Presentation] Bulletproofs - Benedikt Bünz](https://b.thumbs.redditmedia.com/JnrlKPlM5v8yK4_5WdBXex7hp_l1LVuFnFWQEcS_-qU.jpg "[Video Presentation] Bulletproofs - Benedikt Bünz")
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