Bitcoin and Crypto Thread

[Australia Sucks]

I just want to clarify for some on this thread who do not seem to understand how deflation works. Guys like the economist Steve Keen and guys like Jim Rickards point out that deflation caused by technology/productivity improvements are good but debt deflation produced by a deleveraging economy (such as the great depression or 2008) are bad for the economy because they cause a negative feedback loop which send send economy into a downard spiral. Very different from the technology induced deflation which occured during the 1800s (pre federal reserve).

In the current fiat system deflation caused by leveraging is bad because we are in a debt based monetary system and the leveraging sends everybody bankrupt. Obviously if you have a non-debt based monetary system like a pure gold standard or Bitcoin standard deflation is good.

 

[clarencesd]

Binance will delist Monero in two weeks:

https://www.binance.com/en/support/...n-2024-02-20-f73b083ba6834771b07dbe5319917ae5

 

[chance vought]

I just want to clarify for some on this thread who do not seem to understand how deflation works. Guys like the economist Steve Keen and guys like Jim Rickards point out that deflation caused by technology/productivity improvements are good but debt deflation produced by a deleveraging economy (such as the great depression or 2008) are bad for the economy because they cause a negative feedback loop which send send economy into a downard spiral. Very different from the technology induced deflation which occured during the 1800s (pre federal reserve).

In the current fiat system deflation caused by leveraging is bad because we are in a debt based monetary system and the leveraging sends everybody bankrupt. Obviously if you have a non-debt based monetary system like a pure gold standard or Bitcoin standard deflation is good.

De-leveraging on a hard money standard would look similar to a fiat standard, but the government would not be able to socialize the losses. There would be an economic downturn, but only the investor class would feel it, and be forced to sell some real assets, vs 2008 where everyone felt it, and the investor class bought assets from the masses.

Technological deflation: Jeff Booth’s argument in The Price of Tomorrow is that technology deflation will lead to the death of Fiat. On the surface, it allows governments to print more than they could normally get away with. However, governments are also required to print so much as to keep the price of assets ever increasing. This results in a currency inflation rate that is exponential, while prices are only increasing nominally.

 

[Cynllo]

Also Warren Buffet pointed out many decades ago that gold is a non-productive asset (he pointed this out about fiat also). He wrote an article about how over very long periods of time productive assets tend to outperform non-productive assets.

If you own a 1 kilo bar of gold a hundred years later it still sits there as a 1 kilo bar of gold. It hasn't produced anything in the meantime and has just cost

This is why Bitcoin or competitor benefits from also being used as the base money for decentralised apps (computing power, storage etc.)

The top crypto exchanges are mostly, coinbase, binance, etc in US & Seychelles. Not sure where you get they're "European or Chinese". Bitmain is based out of China & they mostly monopolize the ASIC industry right now, even that being, the top pool by hashrate is in the US. Most crypto wealth is in the US.

My comment was that most of the top people in crypto are either of European or Chinese background. In answer to "Does anyone have the demographics of crypto ownership? It appears to be largely white and Asian, mostly male." I went on to say that my experience, of having known people who held large chunk of the BTC supply, is they all lean right. I don't think there are exact statistics, but I feel quite comfortable in saying that most crypto is owned by males of a European or Chinese background. They make up most of the devs and leads who do the actual work.

Look at the symbolism on Eth docs. Does this look like "young right wing males"? All pos coins (ie most of the top coins) follow Vitalik's lead. Vitalik is most definately not right wing...

No. Vitalik is a highly-suspect individual, who has given support to Cheese Pizza (code).

"trading pits"... the largest one being wallstreetbets, right? Where they casually talk about lewd sexual acts behind dumpsters & make references to their wives' boyfriends'?

No really familiar with it. Seems just off Norm street. But it leans right, which was my point. In all the groups I have been in, mostly full-time traders who hold a notable chunk of the total market cap, they have been de facto right wing. To the extent that anyone who wants to counter that will he like a gnat.

RIP bitboy . He had lambos, hot wife, hot mistress and loads of crypto and lost it all . Moral of the story is don’t be like bitboy

Failed crypto star ‘BitBoy’ who says he lost $40M fortune accused of extortion, sexual harassment

But crypto has crashed in the last two years and Armstrong is now being accused of extortion, theft, sexual harassment and workplace violence, the New York Times reported.

nypost.com

He didn’t actually die but his channel died

BitBoy was boomer tier. Hopefully he will find Christ, as he said he is in a spiritual battle or something like that.

Does this suggest less worry, so more HODLing and even buying?

In the groups I monitor, people have been aping all Dec and Jan. Even though the market has been sideways and there are lots of indicators there will be a leg down. They are getting pretty worn out now. So far, selling pressure has been weak. But, I think some will occur. But probably most in coins that haven't had much correction, like SUI, ASTR, Pendle. Ones that have already had a large dump probably won't go down much.

 

[Blade Runner]

No. Vitalik is a highly-suspect individual, who has given support to Cheese Pizza (code).

He definitely doesn't pass the physiognomy test.

They are getting pretty worn out now.

Maybe. But there will be a bank consolidation again, Powell said it out loud, and they know it's coming. As with SVB, that's typically good for those that are "their own central banks."

 

[Deepdiver]

BTC Weekly Chart update - Candle Bodies consolidating for 8 weeks at approx $43,500. Note Fibonacci sequence 1,2,3,5,8,13,21... since bottom recent wave 2 was only one week the wave 2/4 rules of alternation are being respected. Main question here is the Wave 5 completion going to happen now (8 wks) or after the next Fib timing consolidation of 13 weeks. Wave 5 most indeterminant therefore equal probability of 55K to 65K range.
Weekly volume bars at page bottom seem to have bottomed as well.

Seeing YT Max Kaiser warnings lately that all ETFs holding BTC, said BTC will be confiscated by the Feds (Before conversion to their CBDC wet dream???). Therefore research reliable hardware wallets for your own cold storage - Not your Keys (In your personal possession) NOT YOUR CRYPTOS!

 

[Blade Runner]

Seeing YT Max Kaiser warnings lately that all ETFs holding BTC, said BTC will be confiscated by the Feds

Where/when did Max K say that?

 

[Cynllo]

Inside info.

Qubic should be getting a bunch of exchange listings within two to three weeks. It's probably the remaining window to buy it. Right now miners are dumping it each week and it keeps going down.

Prime buy will be when the price pops above resistance - red line.

Essential to be in this.

 

[fokm]

Inside info.

Qubic should be getting a bunch of exchange listings within two to three weeks. It's probably the remaining window to buy it. Right now miners are dumping it each week and it keeps going down.

Prime buy will be when the price pops above resistance - red line.

Essential to be in this.

Where's the best place to buy QUBIC? I'm having a hard time finding an exchange that looks reputable.

 

[Cynllo]

Where's the best place to buy QUBIC? I'm having a hard time finding an exchange that looks reputable.

That's one of the reasons to buy. This went over $300m on junk exchanges you'd usually expect to find $10m cap coins on.

This has been recommended, but not used.

QUBIC-USDT<!-- --> - Seven Seas Exchange

Trade QUBIC-USDT on Seven Seas Exchange

www.sevenseas.exchange

I've used this. Looks bad and withdrawals can fail, but it works.

https://tradeogre.com/exchange/QUBIC-USDT

 

[eradicator]

Tradeogre is terrible avoid at all costs. They ran out of kaspa some months ago. If you try to buy or sell kaspa on tradeogre you basically get a message saying the transaction won’t go through until they get more supply and you lose your money.

Consider yourself warned

Bittensor tao is an example of a good ai coin. It’s already mooned, maybe buy the dips if you’re interested in a good ai coin

Edit Qubic has some of the worst tokenomics in crypto currency. Circulating supply is 74 trillion,(that’s trillion with a t) market cap is quite large for not being on any exchanges at 176m

So basically as soon as the project lands on exchanges the devs will dump all their supply causing any retail investors to lose all their money. qubic looks like a disaster .

Buy bittensor Tao on a dip if you want to invest in a good ai project

Edit hopefully most of you packed your bags with kaspa. I was buying heavily at 8, 9, 10, 11 cents. It’s up over 12 cents and while it could dip it may not be this low again . It’s basically the safest bet to do a 20x to 50x so buy a bag now. It solved the trilemna, grown more than 10x during 2023 a bear year and has not landed on the big exchanges yet. It’s on futures for binance and kraken and they are likely loading up on supply now for a spot listing later this year, perhaps that’s why it’s pumping now.


If you are participating in the alt bull run of 2025 you will likely want your biggest bag to be of kaspa

If you’re in USA buy on mexc with a vpn and transfer to a wallet

I’ve wrote at length about kaspa and while the coin has already pumped a lot, it will pump even more when it gets the big exchange listings, buying at anything higher than like 15 cents you’ve probably waited too long.

 

[eradicator]

Inside info.

Qubic should be getting a bunch of exchange listings within two to three weeks. It's probably the remaining window to buy it. Right now miners are dumping it each week and it keeps going down.

The miners of qubic are paid in cash money not in qubic coin. It’s the devs that are dumping the supply and causing the price to drop. It should dump even more when they find a bigger exchange to sell their coins. Instead of trying to invest in qubic maybe wait for it to land on a futures exchange and then keep shorting qubic because it looks like the price can only go down from here.

How exactly is this not a scam coin? Everything about it screams scam, and the chart you posted is one if the main reasons to. Stay far far away

 

[larom]

The miners of qubic are paid in cash money not in qubic coin. It’s the devs that are dumping the supply and causing the price to drop. It should dump even more when they find a bigger exchange to sell their coins. Instead of trying to invest in qubic maybe wait for it to land on a futures exchange and then keep shorting qubic because it looks like the price can only go down from here.

How exactly is this not a scam coin? Everything about it screams scam, and the chart you posted is one if the main reasons to. Stay far far away

We have no idea what Qubic is "mining", because it's closed source and supposedly training ML models inside a 4 core CPU VM... obviously that's nonsense. Most training data is too big to xfer over p2p networks & you're obviously not training anything with a VM CPU.

I wrote a long post earlier today on how Qubic is nonsense but I deleted it because I felt stupid even caring enough to take 30 min to post that.

This Cynlo guy claims to personally know private billionaire bitcoin hodlers who confirm that everyone's who's anyone in crypto is Chinese or European & "young right wing males"... more BS. Did I misunderstand something or is this a forum for Christians?

As someone with lots of experience in finance, I'd take any financial advice, especially about crypto, given on this site with a giant grain of salt.

 

[Deepdiver]

Where/when did Max K say that?

"US GOVT Will Seize ALL Bitcoin ETF BTC" - Max Keiser​

See 59 minutes 42 seconds Crypto News Alerts discusses various News Articles, Xweets etc...

https://twitter.com/maxkeiser

 

[Deepdiver]

BTC Weekly Chart update - Candle Bodies consolidating for 8 weeks at approx $43,500. Note Fibonacci sequence 1,2,3,5,8,13,21... since bottom recent wave 2 was only one week the wave 2/4 rules of alternation are being respected. Main question here is the Wave 5 completion going to happen now (8 wks) or after the next Fib timing consolidation of 13 weeks. Wave 5 most indeterminant therefore equal probability of 55K to 65K range.
Weekly volume bars at page bottom seem to have bottomed as well.

Seeing YT Max Kaiser warnings lately that all ETFs holding BTC, said BTC will be confiscated by the Feds (Before conversion to their CBDC wet dream???). Therefore research reliable hardware wallets for your own cold storage - Not your Keys (In your personal possession) NOT YOUR CRYPTOS!

Zooming in a bit 4th Wave .382 Fibonacci most probable retrace finished, now accelerating into wave 5 move up in a range of Fib 1 to Fib 1.618 times wave one:

 

[Deepdiver]

"US GOVT Will Seize ALL Bitcoin ETF BTC" - Max Keiser​

See 59 minutes 42 seconds Crypto News Alerts discusses various News Articles, Xweets etc...

https://twitter.com/maxkeiser

As wild as Max sounds this does in fact intersect with the Great Taking - if assets (BTC) are in Brokers SEC authorized securities (ETFs) then they can in fact be taken by the Brokers Creditors (Central Banks) during the great reset pandemonium. Max is a classic "Seer" in this case.

 

[eradicator]

We have no idea what Qubic is "mining", because it's closed source and supposedly training ML models inside a 4 core CPU VM... obviously that's nonsense. Most training data is too big to xfer over p2p networks & you're obviously not training anything with a VM CPU.

I wrote a long post earlier today on how Qubic is nonsense but I deleted it because I felt stupid even caring enough to take 30 min to post that.

This Cynlo guy claims to personally know private billionaire bitcoin hodlers who confirm that everyone's who's anyone in crypto is Chinese or European & "young right wing males"... more BS. Did I misunderstand something or is this a forum for Christians?

It’s a forum for anyone. Cynllo is one of the guys who helped migrate the forum over from rvf.

I’m not Chinese or European or young so I can’t speak for cynllo or his comments(there are a LOT, of investors in the USA that use normie exchanges and that’s fine, Also a lot of crypto users in Asia, South America or Mideast that have weak/unstable native currencies do they use crypto coins as a wallet or bank, also totally fine ).

But I would not put any money into qubic(not even $30 or $50). If I want to put money in a good ai coin? I’d find a dip on bittensor Tao and ride it until the end of the bull run. But it looks like it’s already mooned pretty hard so I may just sit it out.

As someone with lots of experience in finance, I'd take any financial advice, especially about crypto, given on this site with a giant grain of salt.

Sure, I’d say that about any forum anywhere

Do your own due diligence before investing any real money in anything. It’s your money, after all.

Edit, we certainly don’t have to agree with other users about everything. Just keep it civil. I certainly don’t agree with much of deepdivers predictions, he was seeing Bitcoin dropping under $1000 per coin and then mooning to over $1m per coin in the coming months. I just don’t respond to it.

I also don’t agree with cynllo about everything, that’s fine too

 

[larom]

It’s a forum for anyone. Cynllo is one of the guys who helped migrate the forum over from rvf.

I’m not Chinese or European or young so I can’t speak for cynllo or his comments(there are a LOT, of investors in the USA that use normie exchanges and that’s fine, Also a lot of crypto users in Asia, South America or Mideast that have weak/unstable native currencies do they use crypto coins as a wallet or bank, also totally fine ).

But I would not put any money into qubic(not even $30 or $50). If I want to put money in a good ai coin? I’d find a dip on bittensor Tao and ride it until the end of the bull run. But it looks like it’s already mooned pretty hard so I may just sit it out.

Well, anyone publicly claiming I should take his advice because he personally knows bitcoin whales who give him secret info in "traidng pits" is laughable to me. Then again, people stupid enough to believe that, there's really no helping them, that's why I deleted my long post.

The concept of AI & blockchain together don't really work. You have stuff like clore.ai (ravencoin copy/paste) where you can hold physical clore & use to rent actual GPU's to train models, but you don't need blockchain coins to do that. AI has nothing to do with blockchain, if you're interested in investing in AI then it's better to buy physical GPU's then use a service like vast.ai where you can rent your GPU at a spot price hourly for people needing to train their own models. Many GPU miners switched to services like vast.ai. There are certain GPU's that train certain network types that can be fairly profitable.

 

[Diadem]

Inside info.

Qubic should be getting a bunch of exchange listings within two to three weeks. It's probably the remaining window to buy it. Right now miners are dumping it each week and it keeps going down.

Prime buy will be when the price pops above resistance - red line.

Essential to be in this.

Looks like $QUBIC broke the trendline. I'm selling some of my BTC to buy QUBIC. I was reading their website and found it interesting that they use the computing power from their (useful)POW mechanism to do AI research, something that I was speculating on a few pages back in this thread.

Did you ever take a look at $TAO? It is having a retracement right now and I'm wondering if it could be a good entry.

 

[eradicator]

Did you ever take a look at $TAO? It is having a retracement right now and I'm wondering if it could be a good entry.

I’d consider it if it dipped a bit lower. Bittensor Tao is a good project but it’s already mooned. I’d bite at like $350/coin