Official Bitcoin Thread

[mplsdunk]

Serious question, what do you guys do when you gotta have your phone worked on by Apple or something?

just log out of your app? Like you got google wallet, Coinbase and all this stuff on your phone. My bank is insured but say you had hella money in Coinbase and they transferred it to themselves you’re assed out...

 

[fapmasterjr]

With BTC going full ape mode, remember the FUD will start coming out of the wood works....last bull run it was:

- China stopping miners
- Russia banning cryptocurrency
- India putting peeps in jail for using bitcoin/crypto
- No Anonymity using BITCOIN

This time it will be:

- SEC/FINCEN/CFTC/IDGAF whatever entity it is will be "coming" after bitcoin/crypto
- China will power down miners
- GOVT will ask AWS and other cloudservers to halt any mining operation going on
- Scare the end user(s) that they will be fined/arrested for using crypto
- _____________________ name whatever else they can think of

 

[fapmasterjr]

Serious question, what do you guys do when you gotta have your phone worked on by Apple or something?

just log out of your app? Like you got google wallet, Coinbase and all this stuff on your phone. My bank is insured but say you had hella money in Coinbase and they transferred it to themselves you’re assed out...

I use trust wallet, blockfi, coinbase and all use face recognition + 2FA. Is this any different when they work on your phone and you have BOFA, ALLY BANK, Citicards , venmo, cashapp, zelle on there??

 

[JL415]

Just read an article that stated that BTC is becoming more illiquid as the price goes up. I hope the illiquidity pushes folks to jump on ETH and LTC.


...

Illiquidity on the supply side not demand side, which just means the price has so much more room to run up. We're not even anywhere near close to retail-mania yet. No one has any idea what's coming for the BTC price. I encourage people to research why Bitcoin is so important for financial sovereignty instead of just looking at crypto as a quick way to get rich. Your hard earned USD is constantly being debased by inflation without your consent. If a majority of society understood this, we'd be better off by removing more control out of governments that don't have our best interest.

 

[mplsdunk]

I use trust wallet, blockfi, coinbase and all use face recognition + 2FA. Is this any different when they work on your phone and you have BOFA, ALLY BANK, Citicards , venmo, cashapp, zelle on there??

yeah it’s different, you hit me for my money in my checking or run up a credit card I call my bank and get it back in a few days...

 

[fapmasterjr]

yeah it’s different, you hit me for my money in my checking or run up a credit card I call my bank and get it back in a few days...

yah, i get that....but what about first layer of security ...then 2nd (face recognition on app)...then 3rd (2FA on app)? You just let them bypass and have a free for all once someone physically holds your phone?

 

[mplsdunk]

my Coinbase doesn’t have face recognition once I open my Home Screen like my bank app and credit cards.

I gotta enable that I guess.

 

[SupremeBeing5]

Serious question, what do you guys do when you gotta have your phone worked on by Apple or something?

just log out of your app? Like you got google wallet, Coinbase and all this stuff on your phone. My bank is insured but say you had hella money in Coinbase and they transferred it to themselves you’re assed out...

SAVE YOUR QR CODES

Just a reminder to everyone in here who leaves money on exchanges and uses 2FA.

Anyways, I'm not letting anyone in my phone. You just let people view your phone without logging out of your icloud? Delete the app and re download it if you have to. Or get a hardware wallet. If anyone did that to my phone, it's on sight. Apple does everything in front of you. They shouldn't be taking your phone out of your sight anyways.

 

[Present]

Need a trailing stop loss on Coinbase

 

[superantigen]

Illiquidity on the supply side not demand side, which just means the price has so much more room to run up. We're not even anywhere near close to retail-mania yet. No one has any idea what's coming for the BTC price. I encourage people to research why Bitcoin is so important for financial sovereignty instead of just looking at crypto as a quick way to get rich. Your hard earned USD is constantly being debased by inflation without your consent. If a majority of society understood this, we'd be better off by removing more control out of governments that don't have our best interest.

There's always been a fixed amount of BTC, so wouldn't the demand side--the dependent variable-- be the cause of the illiquidity? Right now, it seems to me like institutional investors are the movers and shakers in Crypto, with respect to BTC; they're the ones dictating the price action of BTC by gobbling up and holding available BTC, thereby creating the illiquidity issue.

Also, I understand and agree with the premise of BTC as an liberating alternative to fiat and institutional currency, but the more valuable BTC becomes, the more it moves away from its original function. At this point, no one in their right mind is going to be ordering pizza or engaging in day-to-day transactions with BTC. In other words, people are clamoring for BTC not to use as an alternative to fiat currency, but as a way to store value. Fiat currency might be subject to inflation and institutional manipulation, but its not going to be replaced by BTC anytime soon, not when it is more sensible to HODL your coin because it is an appreciating asset. The tech behind BTC might change society for the better, but I think BTC itself has become lost in the sauce as it is beyond the reach of most and is on the path to become a Wall Street darling.


...

 

[NASA 2.0]

Bought hot coin. Bring that altcoin season soon. Lol

Yolo.

 

[tkthafm]

People who literally laughed at BTC when it dropped to 4k are now hitting me up saying they bought their first coin at 29k

The FOMO is real.

 

[JL415]

There's always been a fixed amount of BTC, so wouldn't the demand side--the dependent variable-- be the cause of the illiquidity? Right now, it seems to me like institutional investors are the movers and shakers in Crypto, with respect to BTC; they're the ones dictating the price action of BTC by gobbling up and holding available BTC, thereby creating the illiquidity issue.

Also, I understand and agree with the premise of BTC as an liberating alternative to fiat and institutional currency, but the more valuable BTC becomes, the more it moves away from its original function. At this point, no one in their right mind is going to be ordering pizza or engaging in day-to-day transactions with BTC. In other words, people are clamoring for BTC not to use as an alternative to fiat currency, but as a way to store value. Fiat currency might be subject to inflation and institutional manipulation, but its not going to be replaced by BTC anytime soon, not when it is more sensible to HODL your coin because it is an appreciating asset. The tech behind BTC might change society for the better, but I think BTC itself has become lost in the sauce as it is beyond the reach of most and is on the path to become a Wall Street darling.


...

Bitcoin as a medium of exchange is not its main value prop, although that will happen in time with second layer protocols such as LN. It's those other things you mentioned such as SOV, privacy and full control of your money. Gold has existed for 5000 years, why does no one ever bring up the medium of exchange critique for it? The standard for BTC has been set so high so early on, and that just encourages me even more. No other coin is fully decentralized as they all have a face to it and can be regulated with heavy scrutiny at the drop of a hat (see XRP). Do I think there's money to be made on sh--coins short term? Sure, but long term I'm going to go ahead and bet on the most proven, decentralized currency there is.

Not financial advice, but this is pretty telling:


Beyond the reach of most? You can buy as much as you can afford today and still be front running 95% of the world. What do you think it says about BTC when Wall St. is only buying it and no other non sense coins? Stop letting recent price action delude you into thinking you're too late to the party. I saw some people make a decent amount of money in sh--coins in 2017, but a lot more that got burned. Again, none of this is financial advice, do what you will.

 

[mplsdunk]

I’d rather make slow bucks than lose money left and right.

 

[NASA 2.0]

Can someone explain to me what happened to binance??

Tried to deposit.. Unable to.. I have some left over BTC from 2 years ago and was able to buy altcoins.. However that is it..

Did a quick google search and they no longer service usa customers?? Thanks.

 

[danyosahn]

Can someone explain to me what happened to binance??

Tried to deposit.. Unable to.. I have some left over BTC from 2 years ago and was able to buy altcoins.. However that is it..

Did a quick google search and they no longer service usa customers?? Thanks.

I think you have to create an account on binance.us and transfer your coins over to there?

correct me if I'm wrong. I just transferred my XRP over to get rid of it.

 

[ksteezy]

I’m seriously considering dropping my LTC bags bros...just converting it all to BTC...it’s been 3 years and all it has done is continue to grow a bigger gap in SATs.

 

[johnnyredstorm]

Don’t get reckless. This isn’t a normal move and will see a 50% correction at some point. If you can’t stomach that, cut your size now. Don’t be throwing all your money in. DCA regularly whatever you don’t need.

 

[smedroc]

Can someone explain to me what happened to binance??

Tried to deposit.. Unable to.. I have some left over BTC from 2 years ago and was able to buy altcoins.. However that is it..

Did a quick google search and they no longer service usa customers?? Thanks.

Try a VPN

 

[oidreez]

yeah it’s different, you hit me for my money in my checking or run up a credit card I call my bank and get it back in a few days...

but the point made was you still need a password or fingerprint to access those accounts, same with your crypto. heck delete coinbase or whatever app you use off your phone then while it's being worked on

 

[oidreez]

There's always been a fixed amount of BTC, so wouldn't the demand side--the dependent variable-- be the cause of the illiquidity? Right now, it seems to me like institutional investors are the movers and shakers in Crypto, with respect to BTC; they're the ones dictating the price action of BTC by gobbling up and holding available BTC, thereby creating the illiquidity issue.

Also, I understand and agree with the premise of BTC as an liberating alternative to fiat and institutional currency, but the more valuable BTC becomes, the more it moves away from its original function. At this point, no one in their right mind is going to be ordering pizza or engaging in day-to-day transactions with BTC. In other words, people are clamoring for BTC not to use as an alternative to fiat currency, but as a way to store value. Fiat currency might be subject to inflation and institutional manipulation, but its not going to be replaced by BTC anytime soon, not when it is more sensible to HODL your coin because it is an appreciating asset. The tech behind BTC might change society for the better, but I think BTC itself has become lost in the sauce as it is beyond the reach of most and is on the path to become a Wall Street darling.


...

But how is bitcoin beyond the reach of most? Anyone with a bank account and cell phone/computer can buy bitcoin. You dont have to buy a whole coin. You buy what you can afford. People in third world countries are buying bitcoin.

 

[wr]

There's always been a fixed amount of BTC, so wouldn't the demand side--the dependent variable-- be the cause of the illiquidity? Right now, it seems to me like institutional investors are the movers and shakers in Crypto, with respect to BTC; they're the ones dictating the price action of BTC by gobbling up and holding available BTC, thereby creating the illiquidity issue.

Also, I understand and agree with the premise of BTC as an liberating alternative to fiat and institutional currency, but the more valuable BTC becomes, the more it moves away from its original function. At this point, no one in their right mind is going to be ordering pizza or engaging in day-to-day transactions with BTC. In other words, people are clamoring for BTC not to use as an alternative to fiat currency, but as a way to store value. Fiat currency might be subject to inflation and institutional manipulation, but its not going to be replaced by BTC anytime soon, not when it is more sensible to HODL your coin because it is an appreciating asset. The tech behind BTC might change society for the better, but I think BTC itself has become lost in the sauce as it is beyond the reach of most and is on the path to become a Wall Street darling.


...

2021 will be year of the Central Bank Digital Currencies.
None of these countries will turn over their economics sovereignty.
They tearing Facebook up like Standard Oil.
USD Tether is under a 1.24 trillion dollar lawsuit
SEC being petty.
Mind you the whole treasury has been hacked since March and they just told us about it last month.
We are all in the dark until the 2021 plan is rolled out.

The question is which blockchain will these enterprise and country CBDC's be run on.

All they talk about is permissioned ledgers to transact on.

This is about all crypto.
This time it's institutional Money driving the market instead of Ethereum token ICO's.

Notice you don't hear anymore of the "Sent 1 eth and get 10,000 ______ token".

I believe a new security test is coming out of this litigation.

Now people are suing the SEC for allowing ripple to sell a unregistered security. Mind you this case started in 2013 and now at the end of 2020 all the dramatics are coming out.

 

[wr]

I’m seriously considering dropping my LTC bags bros...just converting it all to BTC...it’s been 3 years and all it has done is continue to grow a bigger gap in SATs.

This is why I stress not being a maximalist of a particular coin.
LTC is a fork of the Bitcoin protocol focused on payments. Clearly since LTC has been out, better, faster tokens have come out and we hear very little from the owner who dumped all his coins before the market crash in 17.

 

[freeze]

 

[oidreez]

yea this was posted a couple pages back. No the nfl is not paying him directly in bitcoin, he is using a third party company to convert half his salary into bitcoin