Do You BitCoin?

[Greybeard]

6 hours ago, row_33 said:

saw my first seized Bitcoin ATM at a forensic computer lab this week

 

 

   Maybe some WD40 would un-seize it.?

[Foxx]

https://twitter.com/tracybeanz/status/1144229878251888645

 

a very, very important aspect of cryptos is being banked of your own accord.

[Foxx]

from the G-20 meeting currently going on in Japan.

https://twitter.com/gordongekko369/status/1144452932311691264

 

 

USD dominance is coming to an end.

https://twitter.com/kfrazine/status/1144465285518221316

 

Edited June 28, 2019 by Foxx

[plenzmd1]

^^^^^  @Foxx, first, i shudder every time i see you made a post here..think it is gunna say BTC just sailed through 20K and I am gunna put a stick in my eye.

 

2nd, I dont get what was "shocking" about Trumps speech? Does that dude  think he was referring to cyrpto when he says "digital economy"?

Edited June 28, 2019 by plenzmd1

[\GoBillsInDallas/]

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Subject: Security Alert. Your accounts was compromised. You need to change password!
From: Lily <comentario@celsoferramentas.com.br>    (Not Junk)     
Date:    Thu, Jun 27, 2019 7:13 pm

Hello!

I am a hacker who has access to your operating system.
I also have full access to your account.

I've been watching you for a few months now.
The fact is that you were infected with malware through an adult site that you visited.

If you are not familiar with this, I will explain.
Trojan Virus gives me full access and control over a computer or other device.
This means that I can see everything on your screen, turn on the camera and microphone, but you do not know about it.

I also have access to all your contacts and all your correspondence.

Why your antivirus did not detect malware?
Answer: My malware uses the driver, I update its signatures every 4 hours so that your antivirus is silent.

I made a video showing how you satisfy yourself in the left half of the screen, and in the right half you see the video that you watched.
With one click of the mouse, I can send this video to all your emails and contacts on social networks.
I can also post access to all your e-mail correspondence and messengers that you use.

If you want to prevent this, transfer the amount of $500 to my bitcoin address (if you do not know how to do this, write to Google: "Buy Bitcoin").

My bitcoin address (BTC Wallet) is: 3N1qXUJE1cASPLuKCceU1ErmFZvGRgieeM

After receiving the payment, I will delete the video and you will never hear me again.
I give you 50 hours (more than 2 days) to pay.
I have a notice reading this letter, and the timer will work when you see this letter.

Filing a complaint somewhere does not make sense because this email cannot be tracked like my bitcoin address.
I do not make any mistakes.

If I find that you have shared this message with someone else, the video will be immediately distributed.

Best regards!

 

[row_33]

On 6/26/2019 at 8:49 PM, Greybeard said:

   Maybe some WD40 would un-seize it.?

 

didn't thrill me too much

 

lots of other stuff seized has more potential

 

 

[Foxx]

7 hours ago, plenzmd1 said:

^^^^^  @Foxx, first, i shudder every time i see you made a post here..think it is gunna say BTC just sailed through 20K and I am gunna put a stick in my eye.

 

2nd, I dont get what was "shocking" about Trumps speech? Does that dude  think he was referring to cyrpto when he says "digital economy"?

nope, hasn't sailed past 20K yet.... if the current sideways trend continues, we may be looking at a wedge developing.

 

i posted the Tweet mainly for Trumps comments. personally, according to what i believe is coming, i do not find them shocking, at all.

 

you have to understand what his words mean in the context of what is happening within the G-20. it goes back to my earlier posting about events that have happened with FATF and other notable excerpts from the meetings.

 

disclaimer here... i am reading between the lines somewhat and my biases cloud objective opinion. take it for what it's worth.

[Pilsner]

Bitcoin was just over $13,000 for a little while today. It will be interesting to see when it eventually tops $20,000.

 

Viva la Bitcoin

Edited July 10, 2019 by Pilsner

[Ol Dirty B]

I can't wait until this crashes.

[Pilsner]

2 minutes ago, Ol Dirty B said:

I can't wait until this crashes.

 

Plenty of other cryptos will crash. Hopefully that will satisfy you.

[Ol Dirty B]

3 minutes ago, Pilsner said:

 

Plenty of other cryptos will crash. Hopefully that will satisfy you.

 

Lol not until they all do

[Boca BIlls]

24 minutes ago, Ol Dirty B said:

I can't wait until this crashes.

I don't know why you want it to crash. I wish I got in it when my buddy told me all those years ago. I am happy for the fellow Bills fans who took a risk and and seeing the payoff happening. 

 

I would love if Foxx would give us any tips like is it too late to invest or is it too late to start making bitcoins?

 

I read that Bitcoin has a limit so I guess missing out was meant to be for me.

Edited July 10, 2019 by Boca BIlls

[Pilsner]

14 minutes ago, Ol Dirty B said:

 

Lol not until they all do

 

Lol well I don’t think Bitcoin will accommodate you but you can attend the funerals of the 80%+ cryptos that will go down the tubes. 

[Ol Dirty B]

6 minutes ago, Boca BIlls said:

I don't know why you want it to crash. I wish I got in it when my buddy told me all those years ago. I am happy for the fellow Bills fans who took a risk and and seeing the payoff happening. 

 

I would love if Foxx would give us any tips like is it too late to invest or is it too late to start making bitcoins?

 

I read that Bitcoin has a limit so I guess missing out was meant to be for me.

 

I want it to crash because bit coin investors are way too bullish on it.

 

Someone in this thread was giving instructions on how some could converrt their 401ks into bitcoin. I could have misread it, but that's extremely irresponsible.

 

So yea I hope it collapses.

[Pilsner]

1 minute ago, Ol Dirty B said:

 

I want it to crash because bit coin investors are way too bullish on it.

 

Someone in this thread was giving instructions on how some could converrt their 401ks into bitcoin. I could have misread it, but that's extremely irresponsible.

 

So yea I hope it collapses.

 

I mentioned that anyone interested in Bitcoin has the option of buying shares of GBTC. Greyscale Bitcoin Trust. People interested should of course do their due diligence. In the last 6 months it has gone from about $4 a share to $16.35 (today’s closing). GBTC price goes at a premium that fluctuates up to 30% and sometimes higher.  Bitcoin is volatile for sure. This is just information for anyone wanting to look into their bitcoin options.

 

If people wish, they can buy Bitcoin directly on a crypto exchange. Or they can just ignore crypto and pretend it doesn’t exist.

 

I don’t consider it irresponsible to share public information of this nature. This is just information for people who want to know more. 

 

 

[Foxx]

5 hours ago, Boca BIlls said:

I don't know why you want it to crash. I wish I got in it when my buddy told me all those years ago. I am happy for the fellow Bills fans who took a risk and and seeing the payoff happening. 

 

I would love if Foxx would give us any tips like is it too late to invest or is it too late to start making bitcoins?

 

I read that Bitcoin has a limit so I guess missing out was meant to be for me.

on the old BBMB when i started the Bitcoin thread, it was $600 per. when i started this thread here, it was $1200.

 

correct, there will only ever be 21mm BTC in existence.

 

the current block reward for solving a complicated mathematical equation is currently 12.5 BTC. with current hashing power, somewhere around the end of May 2020 the reward will halve whereby the reward will be 6.25 BTC per block.

 

 

[The Senator]

On 7/10/2019 at 6:17 AM, Foxx said:

on the old BBMB when i started the Bitcoin thread, it was $600 per. when i started this thread here, it was $1200.

 

correct, there will only ever be 21mm BTC in existence.

 

the current block reward for solving a complicated mathematical equation is currently 12.5 BTC. with current hashing power, somewhere around the end of May 2020 the reward will halve whereby the reward will be 6.25 BTC per block.

 

I presume you’re aware of what software pioneer, billionare, and apparent lunatic John McAfee promised he’d do if Bitcoin does’t reach $1M by end of 2020?

 

If not, Google it - he’s got 538 days!

.

[Foxx]

7 hours ago, The Senator said:

 

I presume you’re aware of what software pioneer, billionare, and apparent lunatic John McAfee promised he’d do if Bitcoin does’t reach $1M by end of 2020?

 

If not, Google it - he’s got 538 days!

.

McAfee is a moron.

[plenzmd1]

@Foxx, now you got a conundrum?

 

https://www.yahoo.com/finance/news/trump-i-am-not-a-fan-of-bitcoin-and-other-cryptocurrencies-105950093.html

[Foxx]

2 hours ago, plenzmd1 said:

@Foxx, now you got a conundrum?

 

https://www.yahoo.com/finance/news/trump-i-am-not-a-fan-of-bitcoin-and-other-cryptocurrencies-105950093.html

 i got ya. 

 

yeah, no. it is a good thing actually.

 

from the article which i agree with wholeheartedly:

... Despite the bearish sentiment of Trump’s first crypto tweets, Coinbase CEO Brian Armstrong is counting it as a win just to have Trump tweeting about crypto at all. Armstrong retweeted Trump and added: “Achievement unlocked! I dreamt about a sitting U.S. president needing to respond to growing cryptocurrency usage years ago. ‘First they ignore you, then they laugh at you, then they fight you, then you win.’ We just made it to step 3 y'all.”

 

awareness is a good thing.  if they feel a need to respond to it, it means it is upon their radar.

Edited July 12, 2019 by Foxx

[Pilsner]

On 7/9/2019 at 9:16 PM, Boca BIlls said:

I don't know why you want it to crash. I wish I got in it when my buddy told me all those years ago. I am happy for the fellow Bills fans who took a risk and and seeing the payoff happening. 

 

I would love if Foxx would give us any tips like is it too late to invest or is it too late to start making bitcoins?

 

I read that Bitcoin has a limit so I guess missing out was meant to be for me.

 

Lol Achievement unlocked. That is great.

 

Fed Chairman Jerome Powell compares Bitcoin to gold.

 

https://www.coindesk.com/fed-chairman-jerome-powell-compares-bitcoin-to-gold

 

Stack those Sats!

Edited July 12, 2019 by Pilsner

[Foxx]

9 minutes ago, Pilsner said:

 

Lol Achievement unlocked. That is great.

 

Fed Chairman Jerome Powell compares Bitcoin to gold.

 

https://www.coindesk.com/fed-chairman-jerome-powell-compares-bitcoin-to-gold

 

Stack those Sats!

the only downside to the rising fiat price is that the Difficulty is rising to all time highs. the last jump and the next are astronomical. makes my mining rigs look weak.

[Pilsner]

3 hours ago, Foxx said:

the only downside to the rising fiat price is that the Difficulty is rising to all time highs. the last jump and the next are astronomical. makes my mining rigs look weak.

 

I haven’t seriously looked into mining. I hope it’s been working out decently for you.

[Pilsner]

U.S. lawmakers are realizing they can’t ban bitcoin.

 

 

https://www.google.com/amp/s/www.forbes.com/sites/ktorpey/2019/07/30/us-lawmakers-are-realizing-they-cant-ban-bitcoin/amp/

[BuffaloBill]

https://finance.yahoo.com/news/meet-ico-pumper-makes-living-040031742.html

 

Interesting interview, a bot created pump and dump.   This is what is so concerning about crypto.  Little regulation with a ton of opportunity for market manipulations.

 

However, the idea is not without concern in traditional markets.  Who is to say that a market could not be made by bot created puts and calls that drive volume on a thinly traded underlying stock?  It only takes small predictable movements to create the opportunity for significant manipulation.

[mead107]

Nothing like Meadcoins. Never loses money ? 

[Boca BIlls]

https://www.coindesk.com/binance-kyc-issue

[John from Riverside]

On 7/9/2019 at 8:56 PM, Ol Dirty B said:

I can't wait until this crashes.

bite your damned toungue!

[Pilsner]

18 hours ago, mead107 said:

Nothing like Meadcoins. Never loses money ? 

 

If Meadcoins are decentralized then I could be tempted.

[John from Riverside]

On 7/12/2019 at 8:58 AM, plenzmd1 said:

@Foxx, now you got a conundrum?

 

https://www.yahoo.com/finance/news/trump-i-am-not-a-fan-of-bitcoin-and-other-cryptocurrencies-105950093.html

Just another reason to hate Mr. BK

[JoeF]

@Foxx Thought you would appreciate this Matt Barkley retweet ?

 

Matt Barkley

 

@MattBarkley

·

31m

 

*SATOSHI

 

@NFL

· 16h

Matt Barkely with another DIME to Zay Jones. @MattBarkley

 

: #BUFvsDET on CBS Watch on mobile: http://on.nfl.com/aQHOIM

Edited August 24, 2019 by JoeF

[Foxx]

23 minutes ago, JoeF said:

@Foxx Thought you would appreciate this Matt Barkley retweet ?

 

Matt Barkley

 

@MattBarkley

·

31m

 

*SATOSHI

 

@NFL

· 16h

Matt Barkely with another DIME to Zay Jones. @MattBarkley

 

: #BUFvsDET on CBS Watch on mobile: http://on.nfl.com/aQHOIM

lol, thanks. Matt with another satoshi to Zay.

Edited August 24, 2019 by Foxx

[Foxx]

Leaders of CFTC, FinCEN, and SEC Issue Joint Statement on Activities Involving Digital Assets

[Foxx]

a Forbes article.

 

perhaps a reason for the rise of the last week.

 

Coronavirus Is The ‘Largest Insolvency Event’ In History, Warns Former Goldman Sachs Fund Manager—Pivots Hard To Bitcoin

Bitcoin has largely failed to perform as a so-called safe-haven asset during the coronavirus crisis so far—though that could have begun to change.

 

The bitcoin price fell sharply last month amid a broader market crash that will go down in history as one of the worst market routs of all time, but outperformed major U.S. indexes for the first quarter.

 

Now, renowned former Goldman Sachs fund manager Raoul Pal has warned the coronavirus crisis will cause history's worst insolvency event, while moving 25% of his portfolio to bitcoin. ...

 

... "I think it's a huge societal change that's coming from all of this," Pal said, adding that he thinks the coronavirus crisis will cause "the largest insolvency event in all history."

 

The U.S. unemployment rate could rise to more than 32% over the next three months as more than 47 million Americans lose their jobs, economists at the Federal Reserve warned this week.

 

Others have echoed this, with one official at the U.K.'s Bank of England warning unemployment in Britain and the U.S. could surpass levels reached during the 1930s Great Depression within months....

 

... Reports of an increase in bitcoin demand this week have caused some bitcoin and cryptocurrency investors to recall bitcoin's epic 2017 rally.

 

Bitcoin's 2017 rally, which saw the bitcoin price soar from under $1,000 per bitcoin at the beginning of the year to around $20,000 by December, was largely driven by retail investors and so-called fear of missing out as early adopters became overnight millionaires.

 

"I haven’t seen this much organic new interest in bitcoin since early 2017 in my non-crypto circles," said well-known crypto investor Ari Paul, the co-founder and chief investment officer of BlockTower Capital, via Twitter.

 

 

[plenzmd1]

As you know, did buy some at the start of this mess. Let’s roll!

[Foxx]

2 hours ago, plenzmd1 said:

As you know, did buy some at the start of this mess. Let’s roll!

yep.

 

just a word to the wise here, though this cannot in any way be considered investing advice, after all, i'm just some stupid keyboard jockey... do your own due diligence and investigate any and all investment opportunities.

 

the next "halving" is set to occur the week of May the 18th. due to fluctuations in block confirmation times, the time is approximate, thus the week of the 18th nomenclature. however, it will occur when the 630,000 block comes into existence.

 

what is a 'halving'? a halving is what occurs with every 210,000 blocks (approximately every 4 years) brought into existence. the first 210,00 blocks produced 50 BTC per solved block, the first halving cut that to 25 BTC per and then the last, cut it to the current 12.5 BTC per. with this next, it will further reduce the reward to 6.25 BTC per solved block.

 

each of the previous two 'halvings' saw a brief drop in the fiat pricing before a precipitous liftoff occurred, which you can see with the historical chart below. it has been said though that, "The smart money doesn't hold until halving day. They let the suckers buy into it a few weeks before hand before they slam them."

 

now, if I were to revisit my long term technicals, i still believe it has to revisit three digit territory before liftoff can commence in earnest. however, with what we are currently living through, that view may be moot. there is no real historical precedent to gauge it with, so the current bubble may complete without closing the loop, as it were.

 

again, a whole lot of words to say essentially nothing, except to provide a bit of context around the coming halving..

 

 

 

 

Edited April 29, 2020 by Foxx

[plenzmd1]

That is awesome @Foxx, thank you

[Doc]

1 hour ago, plenzmd1 said:

As you know, did buy some at the start of this mess. Let’s roll!

 

Same.

 

1 hour ago, Foxx said:

Yep.

 

just a word to the wise here, though this cannot in any way be considered investing advice, after all, i'm just some stupid keyboard jockey... do your own due diligence and investigate any and all investment opportunities.

 

the next "halving" is set to occur the week of May the 18th. due to fluctuations in block confirmation times, the time is approximate, thus the week of the 18th nomenclature. however, it will occur when the 630,000 block comes into existence.

 

what is a 'halving'? a halving is what occurs with every 210,000 blocks (approximately every 4 years) brought into existence. the first 210,00 blocks produced 50 BTC per solved block, the first halving cut that to 25 BTC per and then the last, cut it to the current 12.5 BTC per. with this next, it will further reduce the reward to 6.25 BTC per solved block.

 

each of the previous two 'halvings' saw a brief drop in the fiat pricing before a precipitous liftoff occurred, which you can see with the historical chart below. it has been said though that, "The smart money doesn't hold until halving day. They let the suckers buy into it a few weeks before hand before they slam them."

 

now, if I were to revisit my long term technicals, i still believe it has to revisit three digit territory before liftoff can commence in earnest. however, with what we are currently living through, that view may be moot. there is no real historical precedent to gauge it with, so the current bubble may complete without closing the loop as it were.

 

again, a whole lot of words to say essentially nothing, except to provide a bit of context around the coming halving..

 

 

 

 

 

"Three digit territory"?  Meaning <$1000?

[Foxx]

14 hours ago, Doc said:

 

Same.

 

 

"Three digit territory"?  Meaning <$1000?

yes.

 

all bets may be off with the current state of affairs though. completely unprecedented times we are in. averaging in is always a good bet.

 

a few items of note here though...

 

one thing to consider is the network hash rate. this is the total sum of all the computers on the network working to solve the complex mathematical problems required to solve a block and thus bring it into existence. back when BTC was at the today's current price of say $8K, the network hash rate was roughly 10mm terahashes in Nov of '17. today, that same price of $8k has a network hash rate roughly 12x that at around 120mm terahashes. 

 

another item to factor is the network Difficulty rate. the difficulty is a complex formula designed to fluctuate every two weeks with the goal in mind to keep the block birthing rate at roughly one every ten minutes. so, as the network hash rate goes up, so does the Difficulty. as the network hash rate goes down, the Difficulty also lowers to keep the system on a consistent basis. it doesn't always work because the two week lag can back things up if there were to be a sudden price rise, as has happened in the past but it does work itself out.

 

now, all transactions go through the network to get confirmed (s(p)ending BTC/receiving BTC), they are attached to the blocks. this is how miners get payed that aren't the actual ones to solve the mathematical equation and bring the block into existence.

 

so, all things being equal, between the hash rate and the difficulty, miners today are earning roughly 1/12th what they were in November of '17. however, all things are not always equal, lol. additional variables include energy costs and advances in ASIC computing. i would say that, in general, energy rates are pretty constant to specific location (though they can and do vary greatly (for instance, in Fairport or Holley i can get village electric at roughly $0.04 kWh where as in say, Henrietta, it is roughly $0.10 a kWh (additionally, it can be almost free in say China))). with ASIC computing, the advances since Nov'17 are a little better than 4fold, which if your energy costs remain static you are making roughly 3x less today (instead of the 12x) than you would have in Nov '17... but, you also have to factor in the layout for the new equipment which can be very costly and ROI pushes you out quite a ways, especially at the lower return rate.

 

it all boils down to speculation. my mining outfit is no longer profitable on a day to day basis (at one point in '17 i was making roughly $500 a day, lol (not bad for passive income, eh?)) I still run it, albeit on a lessor scale (idle machinery), averaging in my stake.

 

all of this to say that... miners need to get paid or they shut off their machinery. the network will still survive low prices because of the way the system is built, it will always run as long as there is an internet and electricity. the expected rise in fiat price because of the coming halving is not as baked in the cake as it may seem. though if we are using historical trends as our guide, it would seem inevitable. i believe the institutional investment arms are going to play a much larger role in where we go than they did at the previous 'halving'. as such, knowing what their algos are and their intent is, at best, is a crap shoot.

 

the golden rule is and should always be... never invest more than you are willing to lose. 

Edited April 30, 2020 by Foxx

[Doc]

1 hour ago, Foxx said:

yes.

 

Thanks for the info.  I'm going to hold onto what I have.  And if it does drop to that level, I'll buy as much as I can.