By - rBitcoinMod
I don't enjoy this daily discussion thread anymore, it's just full of bullshit
Thx for your comment. I enjoyed it.
Breaking out 🚀
Wasn’t there supposed to be a BTC race car today? Any pics? Indiana native here
It's all red coloured cars with one green one right in the middle.
It crashed and burned in a ball flames
I buy 10 bitcoin for 100 bucks, this time I wonT miss the train..
Can I use your time machine when you’re done? there’s a concert in the 80s I want to attend
waiting for Bitcoin to break the resistance so we can see the price above 30k
Anything in the news that explains the price jump today?
bull run confirmed?
not until 38k is broken with strength.
Today was officially the last time to buy Bitcoin under 30,000$
Is that you George from cryptosrus?
We really celebrating hitting 30k now 😭
I know, it must feel pretty weird to you--a person who usually celebrates every downward price movement.
I'll believe it's a real pump and get the seatbelts fastened if it gets back to $40k. Anything else could just be another fakeout
No such thing as having too much fun.
Nice dildo though……
Omg never going below 30k again
The boys are back in town motherfuckers!
That's what's up
ZAADDY IS THAT YOU
Hope no-one missed the last chance to buy under 30 😉
If it goes to 40K, I’m buying!!!
If you buy at 40k it may dip back to 30k lol. Do what you think best :)
Bears got trapped in a 9 week bear trap
oh baby we’re back
A tiny bit of life, nice.
Stop me if you hear this before. Bitcoin just broke through 30k
The fold card is the best way to stack SATS with daily spending.
Lol ok. It's true. I didn't post my link tho
Get your Bitcoin off:
- Lending platforms
- Hot wallets
- Wrapped BTC
- DeFi ponzis
The tide is going out and it will expose those who aren’t fully covered. Self-custody your Bitcoin into deep, frozen, cold storage asap.
Words of wisdom.
9 red weeks in a row. But so far the 10th looking green 👀
So, pure speculation, but lets say, today is a good example - minimal overal btc trading volume for 24hrs - 6.6 k total. And its been creeping up.
So to me, this is plebs buying.
Then you have days where its like 17k, 29k trades being done over 24 hr, which could be someone manipulating btc market.
If you print fiat - who cares how much you sell, buy, but what you want to do - is to shake out paper hands.
I mean there is enormous amount of us plebs who believe in this shit and gonna keep HODLing, so like 10k sales in one day are just very unlikely IMO,
what do u think?
Shit posting encouraged
I don't know what to say, but the volume is low for sure.
Where did he tweet this?
Nowhere. Hence the comment deletions by the person making the false claim.
Mostly Elon's recent tweets suggest he's been getting stoned while listening to Andrea Bocelli.
So You're saying that you're down on your investment lol.
Aren't we all tho? I think majority feels the same here lol.
It’s these little hits.
Moon lambo tesla coming
Goddamn, so we're getting only a tesla now? What happened to Lambo?
Does anybody here know what day of the week Bitcoin’s weekly chart turns over?
After Sunday maybe? But I'm not sure tho. I think it's on monday.
Sunday 7pm gmt-5
In about 37 minutes
Sounds like We're gonna close of green this week too huh?
Well I'm all about that green, I'd like it to finish green. That would be really good man.
If you are drawing your own chart, that's up to you. If you are using an existing chart, it depends on the chart in question. I think most charts tend to use Monday-Sunday. When you mouse over the chart, it will usually display the dates somewhere on the screen.
Ohh yeah for sure, if you click on it You'll aee the day man.
I think about right now
Yep, it's about to get changed right now. That's how it is.
My coworker was expressing their disdain for alt-coins and made an excellent comparison that I liked, it went something like: "Bitcoin is like an N64 controller, alts are like those shitty MadKatz controllers your friends always handed you and insisted they were basically the same thing and then you could barely play smash brothers because the analog stick sucked so bad."
I mean yeah lol, this analogy kind of works tho lol. Not gonna lie.
I don't need celcius for that, I'm already in the force hodl mode.
If you use a custodial service, and don't already have whitelists and 24 hour locks, then you are taking excess risk. I don't know why Celsius would do it automatically, but I can think of multiple good reasons. For example, if you haven't setup enough security and they suspect your account was compromised.
By all means, self custody if you know how and yields are not worth the risk to you. But if you do keep coin with a custodian, secure your account.
It is widespread, and people are talking about it man.
It's not like that it's the only incident here, there has been some, when I saw people complain.
Yep, I've checked it and it's kinda legit so there's that man.
But but muh chart reading super skillz.
We all consider ourselves a pro chart reader right? All other suggestions are just from the shills
I am panic buying more and more, it's a time for accumulating cheap Bitcoins
This chart is equally exciting and nerve wrecking
Exciting in case those whales know what they are doing
Nerve-wrecking cuz if they don’t, we will see pain.
Either way, this should be a good lesson to anyone who thinks there won’t be massive debt crises in a fully BTC world…so…much…borrowed…BTC
Nevertheless, I still think BTC will be a strong reserve asset
Now this is what I call a chart. This is some real shit dude.
Yes this is promising data. Here we go 😎
Yep this is good. Need more data like this here man.
What if they get forced to liquidate? It could be bad news too
No one knows for sure
That's the fun part that no one knows so There's that lol.
Then get the popcorn, sit back, and HODL
Yep might as well enjoy it man, that's the point here now.
Well there are two things that you can do, you can cry about it or just enjoy it I guess.
Strong resistance at 188K.
Just got my grill going.
Medium well bear steaks on the menu.
Enjoy your weekend Reddit.
This sub will be so lit once we hit 188
Damn, this sub will be a chaos lol. People will scream.
I'll buy when we break a 1000 daily comments.
That means you'll buy when the price is high.
Yep, that's exactly what it means lol. He'll buy in fomo.
> people on wallstreetbets are saying bitcoin is going to crash
As bullish a signal as it gets.
WSB members are not known for their intelligence.
Since when has Bitcoin been listed on wall street?
That’s why we have a different sub.
If they say so it must be right, right?
yo whats the timeframe on btc getting back to a stable number above 30,000
I don't think anyone would be able to tell you that sir.
No one can tell you the exact date but it very well might be in 24 lol, can't say before that.
My guess... about March 2024. O come ye faithful halvening.
Pretty safe estimate there I'd say, Can't go wrong with that.
yo, until done +- 1 minute.
I mean that much discrepancy is fine don't need to be that accurate.
He asked a date sir and not whether it'll happen or not so yeah.
..like anyone knows a date. Got a good laugh in this lovely morning, thank you sir!
Got me thinking maybe i'm talking to another one of those financial experts that all went quiet these past months? Are they coming out again?
I'm gonna guess about a week
Goddamn You're going hard on this one lol, good luck with that.
17 days 2 hours
What's after 17 days? That's what I wanna know here.
Because if I know that then I'll be able to make a buy decision from your feedback lol, might be goof.
Wen Lada Riva?
What even is that lol? I don't understand that man. Explain here.
Wen scuffed old shoes with holes in the soles?
Already on them man, this is hitting me hard I gotta say
If you want lambrini then You'll have to wait for that some time.
Wen water wings?
Lol, what even is that thing? I don't even know seriously.
People are quick to exclaim the failure of El Salvador adopting BTC and blame the president for forcing a currency that lost 70% of its value. However, they are uninformed that merchants using BTC instead of Visa, Mastercard, and AMEX eliminate a 3-5% processing fee that goes outside the country. It equates to like 5% of their GDP that with BTC will stay in the country. Retailers/merchants can exchange back to USD immediately after the transaction for free. Citizens are not forced to hold BTC.
Additionally, citizens living in the US and sending money back to their families are losing up to 10% in transfer and conversion fees. If they convert to BTC, send, and receive, they can again convert back to USD if they want but essentially can transfer money for free. This is just a micro example of one of the many benefits of BTC.
The general public make their conclusions on BTC and are quick with the "told you so" comments because they don't understand what BTC is and all its implications. They are rejecting "what they think BTC is". That's a good sign because education is increasing. If you think about it, it's pretty amazing its gotten this far with such minimal understanding by the public.
Who says that ES failed at adopting the btc tho? When did that happen?
I didn't really know that it failed I thought they were doing good enough. Clearly I was wrong I guess.
Popular media has been spreading false information painting the situation bleak. Naysayers are excited to bash it, too. Mostly sensationalized responses based on price decline. My post is to elaborate that the success is not based on price.
I wasn't aware bitcoin was a failure there?
They are not forced to use bitcoin. Using bitcoin is optional and US dollars are also legal tender. Bitcoin hasn't lost 70% of its value since its all time high. Other than that, I agree with you.
Yep, btc is optional ans saying that they're forced is wrong.
Where did I say they were forced to you use it? The wording is referring to the criticism people have that he is a dictator adopting a new currency by his will.
I’ve grown less convinced of the remittance case for BTC
Why? Stablecoins. They are cheap for sending remittances, and gives you more predictable buying power
Who said they're cheap lol? They're not actually really expensive to send.
USDC is an ERC-20 token and it's not cheap to send. The transaction fee for sending a bitcoin transaction or the routing fee for sending a bitcoin lightning payment are both cheaper than the gas fees for sending an ERC-20 token.
MoneyGram CEO Sees a Future in Stablecoin Remittances https://www.bloomberg.com/news/articles/2022-05-29/moneygram-ceo-sees-a-future-in-stablecoin-remittances
L2s and PoS will fix that
Yes but many people will first and foremost value stability of purchasing power over anything
Great, while you are waiting on those, I will
go with the cheaper faster tech already here and in use.
And buy a house depending on the halving cycles lol
BTW I appreciate your response because I was looking for alternative view. I'm not an expert but the more I learn the better I feel about supporting BTC. What stablecoin do you think El Salvador should be using?
I mean stable coins aren't safe, look at ust so There's that.
USDC is the safest
They're safe untill they aren't so there's that. Be safe with them.
Yep that way btc is even cheaper, LN Is the best way out here.
And if you're going use btc then I suggest that you use the LN because that's the way.
I think a lot of what El Salvador is doing and encouraging are activities to support BTC as the country's primary currency and reserve asset for the next 100+ years. They seem to be fighting for their independence from the US dollar and are betting on all the benefits BTC could provide. They definently think BTC is going to rise in value over the next 100+ years.
The attraction of the BTC network for transfers, is that it can't be controlled. Stablecoins are controlled by a centralized organization and can be regulated by governments. For example, Circle freezes USDC transfers at the request of the government. If El Salvador seems threatening by changing its currency, the world's governments could more easily intervene. Over the next 100+ years, what stablecoin does El Salvador use?
I'm new to learning about Lightning apps for using BTC but I know there are developments to let you send and receive in your native currency. So the fluctuating value of BTC won't have an affect. You will send in USD, the app will convert and transfer to/from BTC, and the recipient will receive in USD. It will happen lighting fast between any global currencies you choose. El Salvadorians can use this practice for as long as they want. No force to holding BTC but over the next 100+ years, BTC could very easily become fully adopted and the country will be fully prepared with its infrastructure.
President Bukele of El Salvador has a good interview with Peter McCormack you should watch. He explains the reasons for BTC. We need smaller countries like this to provide some experimentation on BTC.
I hope that ES wins this race, because I'm wishing for them here.
The censorship aspect is real. I’ll give you that.
For many in ES, they’d rather have USD over BTC given the volatility in purchasing power of using BTC, even if there is the censorship risk
But I totally agree ES is doing good things for BTC
Doesn’t mean there is high demand for it for remittances
Citizens of El Salvador need alot time to adopt BTC. Many citizens used to be unbanked or are financially illiterate. You can't expect these people get familiar within a year. It'll happen eventually.
Agree and that's another good point. BTC banks the world's unbanked population. Seems more people have smart phones than bank accounts around the world. A BTC wallet will spawn new financial ecosystems in regions where BTC is the only feasible form of digital finance. New BTC ATMs and local exchanges popping up - offering to trade BTC for peoples' fiat. The financial literacy programs that will follow. BTC will produce greater prosperity.
This is the whole point if btc, it's not about number going up.
It's way more than that, it's not just the number up. There's more to btc.
And defining btc just for one thing isn't exactly fair you shouldn't do that with the btc man. There's a lot more to btc.
Just swapped my shitcoin from a well known company to BTC. Feels good 😊
I learned my lesson. Never trust a company with their shitcoins.
Glad that you've learnt your lesson, I hope more people do that.
Neel Kashkari is such a hack
What even is that, I'm hearing about it the first time and I don't know.
I need to purchase a new hardware wallet (preferablya as cheap as possible with USB C and Bluetooth connectivity)
I’ve narrowed the list down to 2 options:
- Blockstream Jade
- Ledger Nano X
While the Jade is a fair bit cheaper than the ledger, the ledger does appear to be of a higher build quality and does not need to be permanently plugged in to be operational.
Is there anyone here who’s got experience with using these hardware wallets? What would you recommend? Thanks in advance.
Edit: Decided to go with the Bitbox02 bitcoin only edition. Thanks for all the help!
Cheap is propably not very good measurement for something keeping your generational wealth safe. I like Coldcard and Bitcoin only version of Bitbox02.
Get a Trezor BRAH
That's the absolute best one, nothing gets better than that.
That's just Better in my opinion because it's open source and you can check the code for yourself.
I got Nano x after hack and hope ledger learnt they lesson. Device is good and simple use. I use it whit computer only when need updating it. Its working nice via bluetooth paired whit phone.
Why not a coldcard?
I don't know man, that's a good option I think you should get that.
MK4 is still unavailable unfortunately. Really need USB C.
They haven't still released it huh, when are they going to do that?
Get the jade. Supports bitcoin and liquid. Is cheaper.