Merged Bitcoin - Part 3

[The_Animus]

Yes but gambling is basically all BTC is good for.

It's also good for purchasing certain goods and services equivalent to billions of dollars annually.

Well, sorry to tell you. It's happened that some BTC wallets were, ahem, "lost" in the chaos that is blockchain.

Your wording is a bit ambiguous so to be clear people can lose their wallets or have them stolen/ hacked but there is no glitch or hacking of Btc or its blockchain such that your wallet disappears.

 

[Belz...]

You claimed that the amount of nutcasery in this thread would drop to zero if I didn't post here.

Yes I did. You replied with something about sound arguments. I said nothing about that.

You should learn a few facts about this new fangled technology

Oh, I've learned quite a lot in the last few years. For instance, I've learned that psiol0 will always defend bitcoin from any sort of criticism no matter how slight, but will deny doing so.

Your post distinguished between bitcoin and "real" money and "real" commodities. You can't squirm your way out of this one.

There's no squirming required. You accused me of saying that bitcoin is not real. I said no such thing. You lied. Hell, you even quote me here, proving yourself wrong.

 

[Belz...]

It's also good for purchasing certain goods and services equivalent to billions of dollars annually.

I didn't say it was not used for anything but gambling. I said gambling is all it's good for.

 

[lomiller]

Investment is always gamble. True BTC offers biger gains and losses, compared to stockmarket or commodities, but in essence it's just the same.

Investing involves risk but that isn’t the same thing as gambling. Investors don’t play the part of the gambler they are playing the part of the casino and look to leverage underlying trends in their favor to come out ahead in the long term. Since bitcoin price is almost entirely a function of speculators betting against each other, there is no legal advantage to be had.

 

[psionl0]

Oh, I've learned quite a lot in the last few years. For instance, I've learned that psiol0 will always defend bitcoin from any sort of criticism no matter how slight, but will deny doing so.

But you have clearly learned nothing about the technology. That is why you address the arguer instead.

Even then you have to equate pointing out a faulty argument to defending bitcoin from all criticism.

 

[psionl0]

Investing involves risk but that isn’t the same thing as gambling. Investors don’t play the part of the gambler they are playing the part of the casino and look to leverage underlying trends in their favor to come out ahead in the long term. Since bitcoin price is almost entirely a function of speculators betting against each other, there is no legal advantage to be had.

A large factor in the price of bitcoin is "hodling". People buy them and hang onto them. The more people that do this, the more upward pressure on the bitcoin price.

Obviously, this effect is swamped by the activities of speculators but we are not talking about "bitcoin casino".

 

[Belz...]

But you have clearly learned nothing about the technology. That is why you address the arguer instead.

No, the two aren't mutually exclusive.

 

[Samson]

Send your rat poison to these good citizens.

https://decrypt.co/35702/bill-gates...ral&utm_campaign=feed&utm_source=trading-view

His tweet comes just moments after Elon Musk's account was hacked. Musk's account made a very similar tweet pointed users to the same Bitcoin address. That address has since received 5.8 Bitcoin ($54,000) from victims of the attack.

Elon Musk's official account then replied to Bill Gates, calling him his brother. This fake endorsement was likely to convince more people that the scam was genuine.

 

[Chanakya]

Here's an entirely incidental snippet that any bitcoin noobs reading this -- like yours truly! -- might find interesting.

People keep talking here about "hodling". Clearly a typo, right? But one saw the term used far too often for that.

So I thought to ask, but before typing the question here, ran a one-word search on google. Turns out hodling is, indeed, a thing. Except it means exactly the same as holding, spelt the old-fashioned away, but when applied to bitcoin and to cryptoinvestments generally, that's how you spell it.

And why? Because apparently some years ago, a poster on a bitcoin message board, who happened to be drunk, misspelt the word, and the "hodl" spelling caught on thereafter!

 

[Dr.Sid]

Here's an entirely incidental snippet that any bitcoin noobs reading this -- like yours truly! -- might find interesting.

People keep talking here about "hodling". Clearly a typo, right? But one saw the term used far too often for that.

So I thought to ask, but before typing the question here, ran a one-word search on google. Turns out hodling is, indeed, a thing. Except it means exactly the same as holding, spelt the old-fashioned away, but when applied to bitcoin and to cryptoinvestments generally, that's how you spell it.

And why? Because apparently some years ago, a poster on a bitcoin message board, who happened to be drunk, misspelt the word, and the "hodl" spelling caught on thereafter!

Dude, hodling means much more than holding. Everyone can hold, but only true alpha investors can HODL. You have lot to learn.

 

[Roger Ramjets]

Send your rat poison to these good citizens.

https://decrypt.co/35702/bill-gates...ral&utm_campaign=feed&utm_source=trading-view

It's all part of a massive attack taking place throughout Twitter right now. So far, accounts of major crypto exchanges have been hacked, including Binance, Coinbase, Gemini, KuCoin and Bitfinex. Litecoin founder Charlie Lee and Tron CEO Justin Sun have also tweeted the same scam, which encourages users to go to a fake website.

Uber and Apple's official Twitter accounts have also posted the same scam in the last few minutes.

Awesome! This is where Bitcoin really shines. A bunch of bitcoiners have just 'donated' money to an anonymous scammer, with no chance of getting it back! How can I get in on that?

Now that everyone can see where Bitcoin's true potential lies, I bet the price is going to the Moon!

 

[Chanakya]

Dude, hodling means much more than holding. Everyone can hold, but only true alpha investors can HODL. You have lot to learn.

Indeed! And yes, point taken about the caps.

 

[Roger Ramjets]

Dude, hodling means much more than holding. Everyone can hold, but only true alpha investors can HODL. You have lot to learn.

That's right, and true alpha HODLers do it forever!

Bitcoin will never die while people continue to HODL, because it will always have value to them - even if the price drops to zero. Since they never intend to sell, the price is irrelevant! But for others it's a different story. With everyone HODLing there will be no speculation and no mining - just the equivalent of keeping expired banknotes in a tin box under your bed.

 

[Chanakya]

Thing is, as a concept, bitcoin is actually brilliant. No reason why, going forward, some cryptocurrency/ies might not provide, in practice, what bitcoin promised, back when. (Or, of course, not. But it's possible, I suppose. After all, the dollar as reserve currency makes no more sense, when you think about it -- even less, if anything! -- than this. So if people could work out the glitches and come up with something after learning from the bitcoin misadventure, well, why not?)

 

[Dr.Sid]

Awesome! This is where Bitcoin really shines. A bunch of bitcoiners have just 'donated' money to an anonymous scammer, with no chance of getting it back! How can I get in on that?

Now that everyone can see where Bitcoin's true potential lies, I bet the price is going to the Moon!

You mean if you send good old dollars to Nigerian prince, you will get them back ?

 

[The_Animus]

I didn't say it was not used for anything but gambling. I said gambling is all it's good for.

Obviously it's also good for purchasing certain goods and services.

 

[The_Animus]

Send your rat poison to these good citizens.

https://decrypt.co/35702/bill-gates...ral&utm_campaign=feed&utm_source=trading-view

His tweet comes just moments after Elon Musk's account was hacked. Musk's account made a very similar tweet pointed users to the same Bitcoin address. That address has since received 5.8 Bitcoin ($54,000) from victims of the attack.

Elon Musk's official account then replied to Bill Gates, calling him his brother. This fake endorsement was likely to convince more people that the scam was genuine.

Awesome! This is where Bitcoin really shines. A bunch of bitcoiners have just 'donated' money to an anonymous scammer, with no chance of getting it back! How can I get in on that?

Now that everyone can see where Bitcoin's true potential lies, I bet the price is going to the Moon!

According to some guy named Madoff, fiat money is so awesome that no one ever gets scammed.

 

[Samson]

According to some guy named Madoff, fiat money is so awesome that no one ever gets scammed.

I think the conversation is important, and this is a serious thread.
Last week I bought 2 pizzas and garlic bread from Dominos.
With a debit card or bank notes. One or other.
I consider the staff would have refused bitcoin.

 

[Belz...]

Obviously it's also good for purchasing certain goods and services.

"Obviously" means "in my opinion".

That is CAN be used for something doesn't mean it's good at it.

 

[The_Animus]

I think the conversation is important, and this is a serious thread.
Last week I bought 2 pizzas and garlic bread from Dominos.
With a debit card or bank notes. One or other.
I consider the staff would have refused bitcoin.

And? What does this have to do with what you're responding to? Are you trying to say when people scam your fiat money it's easier to spend those ill gotten gains and you can spend it on a greater variety of things?

"Obviously" means "in my opinion".

That is CAN be used for something doesn't mean it's good at it.

It is good at it, for a certain subset of goods and services. That's why there are billions in sales.