# Bitcoin #

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udo started the topic in Wednesday, 15 Nov 2017 at 3:49pm

The Bitcoin graph looks Interesting ! ?

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Roadkill Wednesday, 3 Nov 2021 at 8:21am

https://www.afr.com/companies/financial-services/cba-to-add-crypto-to-it...

Comm bank. The first of many.

Those in here who said it’s a scam and/or a ponzi scheme…will be left behind.

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Optimist Wednesday, 3 Nov 2021 at 8:27am

Your walking with the world into a trap and too dumb to see it.

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Roadkill Wednesday, 3 Nov 2021 at 8:51am
Optimist wrote:

Your walking with the world into a trap and too dumb to see it.

Optimist being a pessimist. :)

Heard it all before…don’t care.

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groundswell Wednesday, 3 Nov 2021 at 10:01am

Heaven is a trap designed by man to control the masses with threats if we dont live a noble life we will burn in hell for eternity as god loves us.

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gsco Wednesday, 3 Nov 2021 at 11:20am

CBA to allow crypto transactions via CommBank app: https://www.commbank.com.au/articles/newsroom/2021/11/CBA-to-offer-crypt...

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sypkan Thursday, 4 Nov 2021 at 4:32pm

.

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Roadkill Monday, 8 Nov 2021 at 5:57pm

ETH….boom. ATH and heading higher.

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thermalben Sunday, 21 Nov 2021 at 8:22am
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thermalben Sunday, 21 Nov 2021 at 8:23am

(this is a few weeks old)

"The price of a cryptocurrency based on the popular Netflix show Squid Game has crashed to $0 in what is likely to have been a scam. It climbed above $3,795 ($US2,856) on Monday evening (AEDT), after surging by 310,000 per cent in a matter of hours. But within five minutes (at 8:40pm AEDT), Squid had lost all its value, according to CoinMarketCap."

https://www.abc.net.au/news/2021-11-02/squid-game-cryptocurrency-scam/10...

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Roadkill Sunday, 21 Nov 2021 at 8:32am
thermalben wrote:

(this is a few weeks old)

"The price of a cryptocurrency based on the popular Netflix show Squid Game has crashed to $0 in what is likely to have been a scam. It climbed above $3,795 ($US2,856) on Monday evening (AEDT), after surging by 310,000 per cent in a matter of hours. But within five minutes (at 8:40pm AEDT), Squid had lost all its value, according to CoinMarketCap."

https://www.abc.net.au/news/2021-11-02/squid-game-cryptocurrency-scam/10...

This was pretty funny. Watching people panic as they got shafted. You play with shit meme coins, you get done…greed at work.

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udo Monday, 22 Nov 2021 at 10:18am
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thermalben Wednesday, 1 Dec 2021 at 7:13am

Is this a natural extension from crypto, NFTs etc?

"One of the hottest real-estate markets right now is in the metaverse, where property sales in digital worlds like Sandbox and Decentraland are setting records"

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vladalotovodka Wednesday, 1 Dec 2021 at 11:53am

Vlad much proud of new bitcoin buy off web friend with large inheritance. Great is value and beauty of secret code is when compared with old person gold or land as see you

T31h261jhTx8Y6EkqrQ6kC6KEkeMKvuXN1Vjyg6zZJ48jj

Vlad sleep well get rich soon.

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Patrick Wednesday, 1 Dec 2021 at 6:06pm
thermalben wrote:

Is this a natural extension from crypto, NFTs etc?

"One of the hottest real-estate markets right now is in the metaverse, where property sales in digital worlds like Sandbox and Decentraland are setting records"

Natural extension of being a couch potato

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vladalotovodka Wednesday, 1 Dec 2021 at 7:38pm

Kind African web friend explain to Vlad secret why is my Bitcoin number letter code much value when is Vlad type one with close eyes after much vodka code is no value when look same much. SW comrades may confuse also.

He says big man doctorwitch sit in dark hut in Africa is with of old rusty typewriter given by wise man Fatoshi Ngwanamoto.

Doctorwitch sit with close eyes and type secret code on paper is with spirits guide him. Helper then cut code up and tie pieces to chain on big block in hut to keep safe.

If jumble letter and number code is on chain on block in dark hut is worth many many rouble. If code not on blockchain thing in dark hut is worth no rouble.

Web friend promise Vlads code on chain thing in secret dark hut so Vlad buy one and is soon be rich.

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velocityjohnno Saturday, 4 Dec 2021 at 10:30pm

Virtual yacht sells for $650,000 US:

https://www.entrepreneur.com/article/400173

some weariness in the reporting of this, lol:

https://www.gizmodo.com.au/2021/11/this-whole-metaverse-mega-yacht-nft-m...

So you wanna make a virtual boat? Here's how to do it properly:

http://3dhistory.de/wordpress/3d-models/hms-hood/

What a beauty she was.

And finally, all this boat stuff makes me want to break out in song:

Oh yeah, I'm gonna own a virtual space station soon, so much lol, I'll be retaillin' NFTs lolol

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gunther Sunday, 5 Dec 2021 at 12:47pm
udo wrote:

https://www.news.com.au/finance/money/investing/perth-man-living-in-his-...

"He has now quit his job and owns a four-bedroom, two-bathroom house in Perth that he purchased for $202,000"

Wow, Perth house prices are looking quite affordable

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velocityjohnno Monday, 6 Dec 2021 at 3:55pm

A chaotic weekend, they always do the weekends...

https://finance.yahoo.com/news/bitcoin-plunges-over-20-another-063422558...

Most interesting here at this point is the connection between the crypto market and the existing financial system. Would it be too much to think that companies may have leveraged hard in the existing system to buy crypto to hodl, then they find out on Saturday at their exchange that it has halved but they've still got to pay the full amount back, plus interest. If this hypothetical situation were to occur, would the loans manager be giving them a call on Monday asking their strategy to exit the position? Would anyone call out the lender in the existing financial system that is too exposed? And what would happen if the tether tap turned off? Maybe I've been watching too much Margin Call.

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thermalben Wednesday, 8 Dec 2021 at 6:54am

Sad stories, but unfortunately can't say it was unexpected.

https://www.abc.net.au/news/2021-12-08/cryptocurrency-scams-targeting-au...

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vladalotovodka Wednesday, 8 Dec 2021 at 9:02am

Vlad hope african internet friend not scammer. He say he friend is of president and is Professor of Cryptocurrency is at prestigious Nwigwigwi University so much must is safe for vlad buy with

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thermalben Wednesday, 8 Dec 2021 at 9:00am

"Half a Billion in Bitcoin, Lost in the Dump"

A great read from the New Yorker, as always.

https://www.newyorker.com/magazine/2021/12/13/half-a-billion-in-bitcoin-...

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vladalotovodka Wednesday, 8 Dec 2021 at 12:39pm

Vlad sleep with coinbit code on scrap is of paper under pillow. SW comrades it is call cold storage is and extra safe is your is crypto. Vlad bit expert now of is crypto.

While vlad soon rich he is have bad dream much worry.

Dream one night vlads special code of letter number jumble on paper he buy with inheritance from African Professor of Cryptocurrency not is made by doctorwitch guided by Fatoshi man as promise.

Vlad dream crazy monkey is sneak in from jungle in night is type vlad coin code not crypto doctorwitch as professor is and vlad think. Dream code then put on chain block in morning. Dream Vlad buy silly monkey typed code worth no thing.

But vlad letter number jumble code look special like is other bitcoin so be may okay?

Vlad some of time of wish code is look like more gold coin in photo is than monkey typing.

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Craig Wednesday, 8 Dec 2021 at 12:56pm

Haha, nice one Vlad!

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thermalben Wednesday, 8 Dec 2021 at 1:36pm

Plenty of crypto news today.

"Cryptocurrency exchange MyCryptoWallet collapses, appoints liquidators"

https://www.abc.net.au/news/2021-12-07/mycryptowallet-collapse-liquidati...

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Patrick Wednesday, 8 Dec 2021 at 4:19pm

Vlad, is it true your country sent infiltrators to the freedom rallies? There are reports of cossacks on the ground stirring up trouble.

(Of course I don't believe the rumours, i think your mother land is a fine country.)

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vladalotovodka Thursday, 9 Dec 2021 at 12:04am

Pat, Vlad not see rally. If Cossack there much easy is spot as all do much dance is wear hat and red coat. Cossack not trouble is maker is as too busy all time dance with leg kick as see you in Vlad favourite film

If watch is see vlad what mean. Dance of Cossack is need space not crowd. Also Cossack like dance is with big sword much and cut finger often so not scare is of tiny needle like soft rally peoples.

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shoredump Thursday, 9 Dec 2021 at 4:22am

Still trending up, no?

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Craig Thursday, 9 Dec 2021 at 6:39am

That's an old chart Shorey dating back to the May crash, here's the current price...

shoredump's picture
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shoredump Thursday, 9 Dec 2021 at 7:01am

Ahh thanks, that illustrates my point even better

The point being don’t get too excited about the crashes or the surges, just pay attention to the trend

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thermalben Thursday, 9 Dec 2021 at 7:14am
shoredump wrote:

The point being don’t get too excited about the crashes or the surges, just pay attention to the trend

What's the trend here?

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Blowin Thursday, 9 Dec 2021 at 7:50am

Measured opinion from the Highly Esteemed Macrobusiness site :

There’s debate around the Barefoot Investor that makes for interesting reading:

Money expert Scott Pape, who is better known as the Barefoot Investor, has hit back at claims that he is “costing his followers” a fortune by not backing cryptocurrency.

He has been accused of “embarrassing” himself and sticking his “head in the sand” when it comes to making money on crypto like bitcoin and ethereum, as well as new coins.

In a question shared in Mr Pape’s most recent newsletter, Chris tells the Barefoot Investor that he is willing to put aside the “1000 per cent of gains” on various coins and focus on income instead.

…“Who doesn’t want a 17 per cent return from staking coins? Crypto and DeFi (Decentralised Finance) are the future. The Barefoot Investor is the past. Wake up. You’re embarrassing yourself,” wrote Chris.

[Pape replied] “Yet history also teaches us that in every gold rush there are scams, cons and bubbles just waiting to be popped. This time is no different. If anything it’s worse — today a majority of Gen Z investors in the US think crypto will make them millionaires, according to a new survey by data analytics firm Engine Insights.”

Pretty silly stuff but it does throw up an interesting point of view.

For anyone with knowledge of financial history, crypto is a scam of historic proportions. It is neither a store of value nor a transactional medium and is based upon the same principles as a synthetic CDO cubed that will suffer a bank run the moment things get tough if it is not wiped out by governments first.

But, viewed as an inter-generational social phenomenon it becomes more interesting.

After all, why wouldn’t Millennials believe in it? They’ve watched their parents get stinking rich on the global property ponzi scheme of traditional finance from which they’ve been systemically excluded. Why not back their own?

This is especially the case when the new ponzi scheme comes with the delicious schadenfreude of destroying the very banking system that has so brutally repressed their basic human right to a roof over their heads.

This might even throw up an interesting idea about how sustainable crypto is.

My working thesis is that the stablecoins like Tether that underpin the shaky crypto edifice will collapse in the not too distant future during some kind of broader financial accident. That moment throws up the usual question. Will Tether (and crypto) be bailed out by central banks as they step in as lender of last resort? I have always thought not given the credibility of crypto at that juncture will be fatally exposed and compromised.

But what if Millennial politicians have taken power before then? I have already been surprised at how stupidly some governments have embraced the crypto bazooka pointed at their own heads. What if the fateful moment when stablecoins collapse is overseen and governed by those on the Millennial side of the intergenerational war? Could they engineer a buyer of last resort for an imploding crypto universe to defend their generational wealth against the system championed by their parents?

The problem for this outcome is embedded in crypto itself. Because it is international, and stablecoins are (hilariously) secured against USD collateral, the only central bank big enough would be the FOMC.

The other issue is that I doubt central bankers would have any qualms in watching the competition disappear. Especially since they’ll all be launching their own digital currencies:

Australia is weighing plans for a central bank-issued digital currency alongside the regulation of the crypto market as it seeks to overhaul how the nation’s consumers and businesses pay for goods and services.

The government will consult on a digital version of cash that will be universally accessible, according to notes from a speech to be delivered by Treasurer Josh Frydenberg in Melbourne Wednesday. At the same time, it will consider a licensing framework that will allow crypto transactions within a regulated environment. It expects advice to be received on both by the end of 2022.

See the problem? Crypto fancies itself as global. Currency and lenders of last resort are local. So, when the time comes, there’ll be no bailout for crypto to form locally protected asset quangos for Millennial voters like houses have become for Boomers.

On the contrary!

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shoredump Thursday, 9 Dec 2021 at 7:57am

There’s always lots of activity on this thread (& elsewhere) from both sides of the Bitcoin forecast debate during surges and crashes. Best ignore all that excitement, it’s a clear upward trend

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vladalotovodka Thursday, 9 Dec 2021 at 8:04am

Vlad secrets of crypt trade is wrong never. Here is for SW peoples.

Trend is friend except when trend not friend. If friend not trend then hodl.

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thermalben Thursday, 9 Dec 2021 at 8:02am
shoredump wrote:

There’s always lots of activity on this thread (& elsewhere) from both sides of the Bitcoin forecast debate during surges and crashes. Best ignore all that excitement, it’s a clear upward trend

Similar upwards trends on non-crypto stock too, though much less volatile. See Afterpay, Zip, Xero, REA, Macquarie.





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velocityjohnno Friday, 10 Dec 2021 at 12:35pm

Read the staggering info this morning that of the Nasdaq (tech heavy US index):

"That NASDAQ chart is amazing, over 3000 stocks +17% YTD, take out the 5 largest -22%. Similar gap formed in the S&P. "

The point being, late in a market rally the index will advance on fewer and fewer big stocks and so things like Advance Decline lines may form bearish divergences with new highs (p277 in my copy of "Stan Weinstein's Secrets of Profiting in Bull and Bear Markets" if anyone's interested; I'm sure Investopedia covers stuff like this too). It seems the market is marching higher on fewer and fewer issues. Not advice but a clarion call to 'dyor'.

Other people were saying it feels very 1999. We managed to have a child in April 2000, and as most Dads do, I saved the newspaper. It has a trader with his head in his hands on the front page!

I knew a good trader at this time and he was very colourfully exclaiming "Crash it! Crash it!" He'd grown very sick of seeing internet startups with zero income (ever, as it turned out for many) getting 400 PEs. I was a bit dopey at the time but had the sense to understand I was part of a big spectacle. This time, there's quite a few tech darlings that seem to do nothing to genuinely help the world that could do with a quick trip to monetary oblivion.

How the crypto market will respond in a situation like this will be absolutely fascinating.

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gsco Friday, 10 Dec 2021 at 1:43pm

NASDAQ: If 2000 was the tech bubble, what are we in now?

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velocityjohnno Friday, 10 Dec 2021 at 4:17pm

The monetary equivalent of the 'Eggs Erroneous' machine from 'Ernest Goes to Camp'.

(hard to get good pics of it, but it's a messy monster)

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Blowin Friday, 10 Dec 2021 at 5:52pm

Interesting contributions crew. Keep them coming.

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vladalotovodka Saturday, 11 Dec 2021 at 9:09pm

Vlad now buy is thing call alt coin is better of than bitcoin. Much confuse is so many but african internet friend think best is either new Moosecoin or Wildebeestcoin as is best white paper IPO to get in is basement floor opportunity. Vkad send money to friend then hodl till rich.

Vlad also plan buy new Non Fungus Token as next big thing for be rich.

Vlad much like live is capitalist West rich now find of is way make escape dunny dig job.

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thermalben Wednesday, 19 Jan 2022 at 6:25am

Following yesterday's announcement by the AFL for a five year partnership with Crypto.com - which is now the "Official Cryptocurrency Exchange and Official Cryptocurrency Trading Platform of AFL and ARFLW" - here's an interesting article from the UK:

"Cryptocurrency ads reach record levels on London transport"

https://www.theguardian.com/technology/2022/jan/14/cryptocurrency-ads-lo...

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udo Sunday, 23 Jan 2022 at 2:59pm

$48,800 AuD hammered..

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thermalben Tuesday, 22 Feb 2022 at 9:30am

Peak of US$91,148 (!) in Nov 2021.

Currently US$51,874.

That's a big drop!

But.. compared to when Udo started this thread in Nov 2017, when price was US$9,600.... (or eight months prior in March of 2017 when it was US$1,600), well....

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Blowin Tuesday, 22 Feb 2022 at 11:51am

Wonder what ever happened to that Norwegian ( ? ) fella who sold every possession his family owned , including their house and used the lot to buy bitcoins ? Pretty sure it was about 2013 or so ?

Edit: Found him

https://www.thenationalnews.com/business/money/2021/08/17/this-family-so...

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Roadkill Tuesday, 22 Feb 2022 at 11:54am
thermalben wrote:

Peak of US$91,148 (!) in Nov 2021.

Currently US$51,874.

That's a big drop!

But.. compared to when Udo started this thread in Nov 2017, when price was US$9,600.... (or eight months prior in March of 2017 when it was US$1,600), well....

That’s nothing compared to most alt coins. The bitcoin trend is still up.

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flollo Wednesday, 16 Mar 2022 at 9:36am

This is interesting. Bitcoin should be booming based on the current macro situation however, that's not the case. Why? The below article has some theories about it.

https://www.nytimes.com/2022/03/11/technology/bitcoin-ukraine-russia-roo...

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donweather Wednesday, 16 Mar 2022 at 9:45am
flollo wrote:

This is interesting. Bitcoin should be booming based on the current macro situation however, that's not the case. Why? The below article has some theories about it.

https://www.nytimes.com/2022/03/11/technology/bitcoin-ukraine-russia-roo...

paywall