Bitcoin crash coming (28 Viewers)

[SpaceMonkey420]

Yah now to see does it correct big or touch 30k which is like a big thing like just mentally big round number then who knows

I bought 20k this morning at 28k. Scared money don’t make money. Tired of it sitting in the bank.

 

[L3urntout]

>I'd like an explanation for how bitcoin is coded to be permanently inflationary

It literally by design generates blocks in which more coins are spawned and added to the pool. Diminishing inflation over time but still inflation.

A flat line is not parabolic; price does not dictate inflationary or deflationary properties of the supply it only matters given context to contrast it.

I'm really not interested in trying to convince you, despite your "no, I really want to learn" facade. Regurgitating commonly repeated fallacies that would be easily repudiated with maybe 5 minutes of research tells me you really don't have an objective other than reinforcing your own mindview.

Guess what, that's fine, more than likely you can live your life without caring about it and it would appreciably change nothing.

But please tell me what claims that I have directly made on crypto that you disagree with? You jokingly call yourself an "old man" but I literally see the "old man shakes fist a cloud meme". You are fighting against some random person's projection of "what crypto should be" without even actually understanding yourself.

 

[BNM]

Like... Chips?

BTC for me is huge on the sole fact that it's decentralized. Nobody can print bitcoin whenever they want. It's a network with majority consensus that is extremely extremely unlikely to ever be exploited.

The government may(likely will) attempt to regulate cryptocurrencies in the near future but in the end it's still going to be a truly decentralized network with no singular person calling the shots.

The adoption of a decentralized currency like bitcoin implies massive fundamental changes in the geo-political structure as we currently know it. Listening to the smart crypto people it’s impossible to avoid this conclusion. This will not go smoothly or without substantial resistance, and consequences, if it goes at all.

 

[L3urntout]

The adoption of a decentralized currency like bitcoin implies massive fundamental changes in the geo-political structure as we currently know it. Listening to the smart crypto people it’s impossible to avoid this conclusion. This will not go smoothly or without substantial resistance, and consequences, if it goes at all.

First you need to define adoption. Most of it won't even be seen, it will just be abstracted into something useful.

 

[BNM]

Most of it won't even be seen, it will just be abstracted into something useful.

I have no idea what this means. Explain.

 

[johnjohn]

 

[PlayerADK]

I have no idea what this means. Explain.

I'd say a large majority of people don't understand how the federal bank works. I'm pretty sure that's what he means by people won't need to understand bitcoin to reap its benefits during adoption.

 

[L3urntout]

I have no idea what this means. Explain.

Example something like distributed file storage. Automate a protocol to validate a person's ability to host data reliably and enable users to store data. You are pretty much enabling a free marketplace which at scale should allow better competition. Niche low level applications first.

 

[L3urntout]

Example something like distributed file storage. Automate a protocol to validate a person's ability to host data reliably and enable users to store data. You are pretty much enabling a free marketplace which at scale should allow better competition. Niche low level applications first.

For bitcoin major application will be hard money collateralized lending, yes in fiat

 

[PlayerADK]

Touched 28k

And 29k

Next stop 30k

 

[BNM]

Example something like distributed file storage. Automate a protocol to validate a person's ability to host data reliably and enable users to store data. You are pretty much enabling a free marketplace which at scale should allow better competition. Niche low level applications first.

Oh, you’re referring to all the mechanics behind it, etc. Yeah, that’s not what I meant. I don’t see all the equities with an interest in the current system agreeing on a smooth transition to this, if it were to occur at all. Implies massive geo-political changes, based on what I’ve read and heard. The term “blowback” comes to mind. Be careful what you wish for. We shall see! In the meantime, I hope you realize gains and not losses!

 

[RudysNYC]

Any fellow Uniswap degens here?

 

[wuffle]

Any fellow Uniswap degens here?

fellow degen here

 

[L3urntout]

fellow degen here

I thought we were sushi gang in here

 

[wuffle]

I thought we were sushi gang in here

bullish on sushi but most of the shitcoins are listed on uniswap first gotta degen there

 

[SuckoutKing]

I'm no expert but an active observer. Can someone explain why there are so many random coins. Seems like moreand more all the time. Who can keep up with all this?

 

[RudysNYC]

bullish on sushi but most of the shitcoins are listed on uniswap first gotta degen there

will never forget waking up one day thinking I got rugged on BOR just to realize they moved liquidity to sushi lol

 

[PlayerADK]

Howdy 30k

I closed my leveraged long position for now but I'll always HODL straight BTC

 

[HaRDHouSeiNC]

Howdy 30k

I closed my leveraged long position for now but I'll always HODL straight BTC

I still feel like ETH could double in a few months if ALT season hits its burn to Jupiter shortly.
If and when that happens people will start selling BTC trying to hop on the alt train quick for profits.

 

[wuffle]

we might not see an alt season, if it's institutions buying this time. They are not gonna buy uniswap shitcoins, even ETH is stretching it

 

[HaRDHouSeiNC]

we might not see an alt season, if it's institutions buying this time. They are not gonna buy uniswap shitcoins, even ETH is stretching it

hopefully at least a LITTLE bit of an ETH rally this cycle

 

[wuffle]

hopefully at least a LITTLE bit of an ETH rally this cycle

Let's hope Vitalik ships ETH2 faster

and I really hope I bump into him in SG, he's here for more than half a year already

 

[HaRDHouSeiNC]

geeeesh
It went from 30k to 31k before I could look at coinmarketcap again
All eyes on BTC this cycle it seems. Perhaps no crazy ALT season like 2018

 

[PlayerADK]

geeeesh
It went from 30k to 31k before I could look at coinmarketcap again
All eyes on BTC this cycle it seems. Perhaps no crazy ALT season like 2018

I said the same thing. Woke up this morning to 30400, closed my leveraged position. Check again 1hour later, 31400

 

[RudysNYC]

we might not see an alt season, if it's institutions buying this time. They are not gonna buy uniswap shitcoins, even ETH is stretching it

All eyes on BTC this cycle it seems. Perhaps no crazy ALT season like 2018

I think we'll have a healthy alt season, just not like those in the past. I have a feeling that when btc inevitably pulls back a bit, there will be a sick run to be had.

Lately the shitcoin trend has been "algorithmic stablecoins." Easily my favorite types of ponzi so far

 

[StewbieDoo]

Pretty sure we saw ETH peak mid January 2018 after bitcoin's rise in December 2017. The next couple weeks will be interesting.

 

[L3urntout]

I think we'll have a healthy alt season, just not like those in the past. I have a feeling that when btc inevitably pulls back a bit, there will be a sick run to be had.

Lately the shitcoin trend has been "algorithmic stablecoins." Easily my favorite types of ponzi so far

Mithril fall into that category? It is getting a lot of attention recently.

 

[L3urntout]

Pretty sure we saw ETH peak mid January 2018 after bitcoin's rise in December 2017. The next couple weeks will be interesting.

Yeah dec 17 vs Jan 12th, 4 week desync but btc is still running.

 

[Tienou59]

mined 0.87 btc with few graphics card in 3 years. sold occasionnaly to buy IT stuff . i don't have anything left
i want to diiiiiiiiieeeeeeeeee

 

[PlayerADK]

Welp I would've made about 8k more if I didn't close leverage but it happens lol