agsalaska said:

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I am thinking that you were just warned.

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Was that it!? Was that the warning!? Damn,I missed it.

Whew!!

TxAG#2011 said:

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ag009 said:

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What year was the last one?

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2020. Btc was down 40% in a day.

Think I nabbed some $5 LINK that day... almost back!

There was a pretty bad one in 2021 also

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It went from like 12k to 3k right when the pandemic hit.

bmks270 said:

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AggieAL1 said:

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Quote:

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Bitcoin will be fine. The rest? Don't count on it.

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Why would bitcoin be fine? It's an illusion, a mind game.

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I agree with this sentiment.

Bitcoin price is supported only by demand for it, and the primary driver is fear. Specifically two forms, fear of inflation, and fear of missing out. It's not sustainable, fear may go away, or might reverse. And Bitcoin in general is not unique, all cryptocurrencies share the same demand drivers, and more cryptos inflate all of the blockchain currencies as money gets spreads between an ever increasing supply of blockchains.

---

Bitcoin is different than basically every coin out there, not sure what you mean by this? Mining vs staking, no one at the top removing wealth from the system in order to govern it, there is a finite supply, and it doesn't have the energy problems that come with proof of stake.

It also has use, specifically with its advantages when dealing with international trade.

Definitely Not A Cop said:

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bmks270 said:

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AggieAL1 said:

---

Quote:

---

Bitcoin will be fine. The rest? Don't count on it.

---

Why would bitcoin be fine? It's an illusion, a mind game.

---

I agree with this sentiment.

Bitcoin price is supported only by demand for it, and the primary driver is fear. Specifically two forms, fear of inflation, and fear of missing out. It's not sustainable, fear may go away, or might reverse. And Bitcoin in general is not unique, all cryptocurrencies share the same demand drivers, and more cryptos inflate all of the blockchain currencies as money gets spreads between an ever increasing supply of blockchains.

---

Bitcoin is different than basically every coin out there, not sure what you mean by this? Mining vs staking, no one at the top removing wealth from the system in order to govern it, there is a finite supply, and it doesn't have the energy problems that come with proof of stake.

It also has use, specifically with its advantages when dealing with international trade.

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How does this work if you can't convert bitcoin to an actual currency on one side of the trade?

Definitely Not A Cop said:

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bmks270 said:

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AggieAL1 said:

---

Quote:

---

Bitcoin will be fine. The rest? Don't count on it.

---

Why would bitcoin be fine? It's an illusion, a mind game.

---

I agree with this sentiment.

Bitcoin price is supported only by demand for it, and the primary driver is fear. Specifically two forms, fear of inflation, and fear of missing out. It's not sustainable, fear may go away, or might reverse. And Bitcoin in general is not unique, all cryptocurrencies share the same demand drivers, and more cryptos inflate all of the blockchain currencies as money gets spreads between an ever increasing supply of blockchains.

---

Bitcoin is different than basically every coin out there, not sure what you mean by this? Mining vs staking, no one at the top removing wealth from the system in order to govern it, there is a finite supply, and it doesn't have the energy problems that come with proof of stake.

It also has use, specifically with its advantages when dealing with international trade.

---

It has proof of work energy problems.
It's one flavor of blockchain currency and other coins contribute to the overall supply of blockchain currencies. Every new coin is increased supply.

TxAG#2011 said:

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2002reb said:

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Bitcoin will be fine. The rest? Don't count on it.

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The ones that do is where the big money will be made

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bought another $500 at 0540 EST of Bitcoin (spot price at $26,600)

lowest price in over a year

up to .43 BTC total now.

all my purchases are under the $30K cost basis

how many of you have a physical hard storage wallet for your crypto?

how many of you use coinbase?

bmks270 said:

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Definitely Not A Cop said:

---

bmks270 said:

---

AggieAL1 said:

---

Quote:

---

Bitcoin will be fine. The rest? Don't count on it.

---

Why would bitcoin be fine? It's an illusion, a mind game.

---

I agree with this sentiment.

Bitcoin price is supported only by demand for it, and the primary driver is fear. Specifically two forms, fear of inflation, and fear of missing out. It's not sustainable, fear may go away, or might reverse. And Bitcoin in general is not unique, all cryptocurrencies share the same demand drivers, and more cryptos inflate all of the blockchain currencies as money gets spreads between an ever increasing supply of blockchains.

---

Bitcoin is different than basically every coin out there, not sure what you mean by this? Mining vs staking, no one at the top removing wealth from the system in order to govern it, there is a finite supply, and it doesn't have the energy problems that come with proof of stake.

It also has use, specifically with its advantages when dealing with international trade.

---

It has proof of work energy problems.
It's one flavor of blockchain currency and other coins contribute to the overall supply of blockchain currencies. Every new coin is increased supply.

---

I completely disagree. It uses less energy than any thing that people compare it to. Less than other blockchains, less than other banks, less than companies physically mining gold and other metals.

You are correct about the alt coin stuff, but those are mostly short term fads that eventually get dumped back in to BTC for the long term.

bmks270 said:

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Definitely Not A Cop said:

---

bmks270 said:

---

AggieAL1 said:

---

Quote:

---

Bitcoin will be fine. The rest? Don't count on it.

---

Why would bitcoin be fine? It's an illusion, a mind game.

---

I agree with this sentiment.

Bitcoin price is supported only by demand for it, and the primary driver is fear. Specifically two forms, fear of inflation, and fear of missing out. It's not sustainable, fear may go away, or might reverse. And Bitcoin in general is not unique, all cryptocurrencies share the same demand drivers, and more cryptos inflate all of the blockchain currencies as money gets spreads between an ever increasing supply of blockchains.

---

Bitcoin is different than basically every coin out there, not sure what you mean by this? Mining vs staking, no one at the top removing wealth from the system in order to govern it, there is a finite supply, and it doesn't have the energy problems that come with proof of stake.

It also has use, specifically with its advantages when dealing with international trade.

---

It has proof of work energy problems.
It's one flavor of blockchain currency and other coins contribute to the overall supply of blockchain currencies. Every new coin is increased supply.

---

Ok. I'll ask the noob question really late to the game….what's the real world application of any cryptocurrency??

LMCane said:

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TxAG#2011 said:

---

2002reb said:

---

Bitcoin will be fine. The rest? Don't count on it.

---

The ones that do is where the big money will be made

---

bought another $500 at 0540 EST of Bitcoin (spot price at $26,600)

lowest price in over a year

up to .43 BTC total now.

all my purchases are under the $30K cost basis

---

Just curious… what % of your net worth is in btc??

I have all of my crypto in my coinbase account. It's a small % of total net worth and my current plan is to hold it long term (not a trader). Where is the best place for me to store it? Hard wallet? Any recs?

Proof of work.

MAS444 said:

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I have all of my crypto in my coinbase account. It's a small % of total net worth and my current plan is to hold it long term (not a trader). Where is the best place for me to store it? Hard wallet? Any recs?

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Trezor wallet. I'm a fan.

Definitely Not A Cop said:

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bmks270 said:

---

Definitely Not A Cop said:

---

bmks270 said:

---

AggieAL1 said:

---

Quote:

---

Bitcoin will be fine. The rest? Don't count on it.

---

Why would bitcoin be fine? It's an illusion, a mind game.

---

I agree with this sentiment.

Bitcoin price is supported only by demand for it, and the primary driver is fear. Specifically two forms, fear of inflation, and fear of missing out. It's not sustainable, fear may go away, or might reverse. And Bitcoin in general is not unique, all cryptocurrencies share the same demand drivers, and more cryptos inflate all of the blockchain currencies as money gets spreads between an ever increasing supply of blockchains.

---

Bitcoin is different than basically every coin out there, not sure what you mean by this? Mining vs staking, no one at the top removing wealth from the system in order to govern it, there is a finite supply, and it doesn't have the energy problems that come with proof of stake.

It also has use, specifically with its advantages when dealing with international trade.

---

It has proof of work energy problems.
It's one flavor of blockchain currency and other coins contribute to the overall supply of blockchain currencies. Every new coin is increased supply.

---

I completely disagree. It uses less energy than any thing that people compare it to. Less than other blockchains, less than other banks, less than companies physically mining gold and other metals.

You are correct about the alt coin stuff, but those are mostly short term fads that eventually get dumped back in to BTC for the long term.

---

It is by far the most energy intensive blockchain. Not even close. I think last estimates were BTC mining equated to about the same energy usage as Peru.

The energy use is probably the biggest major obstacle in front on Bitcoin right now.

Ledger Nano S

Binance desist Bitcoin

https://cryptobriefing.com/global-crypto-regulation-is-coming-according-to-top-official/

TxAG#2011 said:

---

Definitely Not A Cop said:

---

bmks270 said:

---

Definitely Not A Cop said:

---

bmks270 said:

---

AggieAL1 said:

---

Quote:

---

Bitcoin will be fine. The rest? Don't count on it.

---

Why would bitcoin be fine? It's an illusion, a mind game.

---

I agree with this sentiment.

Bitcoin price is supported only by demand for it, and the primary driver is fear. Specifically two forms, fear of inflation, and fear of missing out. It's not sustainable, fear may go away, or might reverse. And Bitcoin in general is not unique, all cryptocurrencies share the same demand drivers, and more cryptos inflate all of the blockchain currencies as money gets spreads between an ever increasing supply of blockchains.

---

Bitcoin is different than basically every coin out there, not sure what you mean by this? Mining vs staking, no one at the top removing wealth from the system in order to govern it, there is a finite supply, and it doesn't have the energy problems that come with proof of stake.

It also has use, specifically with its advantages when dealing with international trade.

---

It has proof of work energy problems.
It's one flavor of blockchain currency and other coins contribute to the overall supply of blockchain currencies. Every new coin is increased supply.

---

I completely disagree. It uses less energy than any thing that people compare it to. Less than other blockchains, less than other banks, less than companies physically mining gold and other metals.

You are correct about the alt coin stuff, but those are mostly short term fads that eventually get dumped back in to BTC for the long term.

---

It is by far the most energy intensive blockchain. Not even close. I think last estimates were BTC mining equated to about the same energy usage as Peru.

The energy use is probably the biggest major obstacle in front on Bitcoin right now.

---

FUD

Ok finally did some googling on the UST de-tethering and now I have more questions.

1) I thought this was Tether (USDT) or Us Dollar Coin (USDC) initially. It's not, it's US Terra and was backed by Luna not the dollar somehow. Why did we think that was worthwhile? USDC and tether at least make sense that they have those dollars for every dc/tether minted.

2) How does something algorithmically pegged to a value stop being pegged to a value? Was there a sell off that proved they don't actually have the supply or something? From what I can find the value plummeted first and then the sell off.

I wash trashed a number of times when I called for such a thing. I was told it was totally anonymous and incapable of being regulated. The global elites were just going to sit back and let someone else get control.

Holding this when the government and regulators get involved seems risky as hell. Of course, it's already pretty risky.

Wondering how likely it is that we would lose our assets in Coinbase went belly up and filed bankruptcy. Only thing I have on it is LTC but debating if I should move it to my Nano

I understand, I have posted that some ecosystems had plans already in place for compliance because it was the obvious next play. For it to be around and not take away power from the elite there would be regulations.

Cardano has been discussing regulations and compliance preparation for a year and taking necessary measures. I believe Harmony has been as well.

What benefits are there to keep it on coinbase?

If the intent is to sell it at a better price, why keep it anyways?

Convert to btc and offload it.

Nm

Adverse Event said:

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What benefits are there to keep it on coinbase?

If the intent is to sell it at a better price, why keep it anyways?

Convert to btc and offload it.

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This

I don't understand the hesitation to move everything off Coinbase into a separate wallet after what was released unless you plan on selling very soon.

Reluctantly, I sold my Bitcoin this morning. I was hoping for it to be an inflation hedge but it's been anything but. I'm still a big believer in it long term but just not comfortable with what's going on right now.