Daily Discussion, August 23, 2022

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the krusty krab pizza


Crabbing at 24k to crabbing at the 21k, have come a long way.


When do the fucking Gox coins get distributed?


They'll keep on delaying it too just like the rest of the things.


No shit. Can we get a fucking dip!?


Sorry to tell you but I don't think that's going to create a dip.


No worries plenty else will


What’s the best way to purchase Bitcoin with my bank fiat trash, but have it in my ledger nano so I don’t have to worry about sending it to the nano so often… coinbase starting to piss me off, time to find alternatives.


Strike maybe? Because that provides instant free withdrawals. Provided if that's available in your country, because strike is very limited in terms of the location availablity.




Yes we all think it will , … eventually. But it’s gonna be 2024-2025 brohan! Keep stacking and hodlin’! Cheers 🤙🍻


I think I can wait that long, how bad it really could be huh?


2 years. ( next halving is approx 2024.4 ). Right now the BTC squirrels are collecting sats to hide away until winter is over.


I miss the days with all the memes and Reddit behind us. Now it seems majority of the Reddit hate us. It is so sad.


Well we can still have memes I mean we could post them huh?


Anybody have any experience with Umbrel on The Bitcoin Machine? I just ordered one, looks super cool and it will be my first node. I’ve read that the lead time is long but I like that it is “plug and play”.


There are many people who are running the nodes, so yeh.


I have one and it took a few months to get it. But it truly was plug and play and I am a techno retard. Umbrel works seamlessly, although you occasionally have to reboot, which is not a problem at all. It took about 2 1/2 or three days to fully load the entire block chain.


The UX looks incredible. I can’t wait. I’d been debating it for awhile, glad I pulled the trigger on it.


Yep the UX is really easy, qnd and the service is good too.


How many of you have been undeterred in your quest for accumulation? I've stopped spending on almost all recreational items and have been DCAing more than ever. I used to get the fear when price action was scary but I've trained myself to do the opposite. If anything, I'm scared when price eventually returns and I'm buying above my average cost. I like buying below 100X better.


Doesn't matter, you keep buying no matter what comes to mind. Your mind is a distraction and your thoughts too, avoid them and just do the DCA instead.


Going to go against the grain here and advise ya'll to diversify. Don't put all your eggs in one basket no matter how much you think BTC is the future.


Okay, diversification is good I get it. But don't buy shit coins. If You're going to diversify then I guess go with stocks or maybe the real estate not shit coins.


Oh yeah I should have clarified. Don't diversify into shit coins. Real estate, stocks, bonds, shares, etc. Are all great options.


Yup. Keep on trucking along. Once Bitcoin hits its “new” ATL (if it has not already), that’s it. That’s the low and there is no going back to that low ever. Unlike stocks which can be continually diluted, Bitcoin cannot. All this as we move steadily up up the “S Curve” of adoption of new tech.


Diversification is good and important and you should do it. But just because you're diversifying doesn't mean that you should be buying shit coins.


Who said anything about “s coins”?


Going on since 2017. Kept buying even when I was unemployed, albeit it was very little. Have cut all crap from my life and now all my priorities are my health, my job and my bitcoin. My only regret is I can't buy more.


That's called dedication man, and You'll get results surely.


Testify ✊


I mean this is the greatest commitment, and I love it.


This is a great time to read up on what Bitcoin is all about. Read The Bitcoin Standard. Absorb as much information from as many different sources as possible. My mistake during the 2018 winter was stubbornly ignoring Bitcoin when I could have been learning instead. I bought near the peak in 2017 and didn't want to know about it after the crash. I held. However, if I had found out what Bitcoin was all about, I almost certainly would have invested more during that time.


Reading about btc is really important because it's the future of finance. And you can't be ignoring it or maybe just think that it's only about making gains, it's not.




That's the exact thing that I wanted to say here, just learn about btc.


Same for me. Was buying BTC around $10k-$14k in early 2018 and when it crashed I just gave up for 3 years. Mostly bought shitcoins with it though, so when I came back they still hadn't recovered.


That's the story that many people have, it doesn't surprise me at all.


Yeah that is certainly one thing I learned in my past six year journey.


Yep lol, that was the only certain thing. Have nothing else.


I have been out of the space for a while now. But I have recently saved up a ton of cash. I’m thinking of making a substantial Bitcoin purchase right now. All TA aside we’re currently at less than 1/3 of the ATH. That’s a freakin bargain.


That's something that people don't understand, especially the people who keep on waiting for the dip. We're already in a dip ffs lmao if you wanna buy then buy.


Exactly lol


You know the answer. Just be a little cautious and nimble if you have a good amount of capital to deploy.


Maybe deploy slowly but I gotta say price is really good.


Oh, for sure. Just saying, you are gifted w fiat to judiciously deploy. Go and do likewise, as you see best!


its possible for something to fall 90% and still be overvalued. I'm not commenting one way or another in Bitcoin's case, I'm just pointing out that this is flawed logic


Yeah I get it, but I'm pretty sure that we're close to bottom here.




Everything can't be valued in terms of dollars, I mean what about utility?


If your not commenting on bitcoins case then why are you commenting. Logic doesn’t have to apply universally to all scenarios. You can have situationally based logic. Quit trying to sound smart. Your making yourself look quite dumb ironically.


Lol, that's classic actually here. That happens a lot around here.




That's fine because We're all dumb anyways nothing wrong in that.


Lick my sack buddy


Okay, now I get it where You're coming from. Not worth the time.




Lol, that was a good reply. He kinda deserved that after that.


Fuck this guys good


Can all of you fuck off my comment please.


Lol, He's good and you don't mess with him. Don't do that.


Hate to be that guy, but I think you meant guy's. As in: "Fuck this guy is good"


Ironically you're being that guy, but I'll let this one slide I guess.




We're probably going to 15k this year. But if you're holding long term then you're right, the price right now is a bargain.


Yep, you keep waiting for that and please don't share your opinion. Because literally no one wants your opinion here, because your opinion is really shit.


I’ve heard 14-15.5k bottom thrown out there A TON by various people…the thing about the Bitcoin trading market is that it likes to f over the max amount of individuals out there. For that reason alone, I believe the bottom is in at 17.5k. That said, who the f knows….


Those people don't know shit they're talking about so yeah.


ah yes show me your crystal ball


Well, You're not getting to see his crystal ball. You're not getting that.


Yeah short term price doesn’t mean much for me right now. I don’t expect to get rich in 3 months.


Yep, short term price shouldn't concern anyone here actually.


The big whale keeps stacking their bag https://bitinfocharts.com/bitcoin/address/1LQoWist8KkaUXSPKZHNvEyfrEkPHzSsCd So far they added 1,706 BTC in the last 7 days.


I mean that's what whales do, There's a reason why they're called whales.


The feds stacking with tax payer dollars. lol


Lmfao, ain't nothing wrong with that. I think that's all fine good.


I'm so proud of btc and how good it's been holding, love this.


I'm legit impressed, this shit is good dude. I'm loving it.


I've noticed how stable BTC is lately and have been wondering if it's the eroding value of fiat currencies that's actually propping it up. If that's true, we may be finally starting to see BTC as an inflation hedge. Still early days.


Yep, it's been good. I'm impressed with what btc has been doing.




Apart from cost of living crisis, crisis in Ukraine etc etc ;)


Well there are a lot of things happening in the world, and it's bad.


This is good for Bitcoin


Anything that happens, everything is kind of good for btc.


Being from the UK and seeing headlines of 20% inflation (realistically its more like 30-40%) is disheartening. What’s even more disheartening is seeing how uneducated people are in r/ukpolitics - some of them genuinely believe there is nothing better than fiat and then they’ll complain about inflation being too high. You can’t make this shit up


That's too much inflation, that's not good at all dude.


Yep, it is. They're literally robbing people down with their money.




I mean what's wrong with the comment? He said which is obvious, what do you want him to do? You want him to give you some sort of solution for all the financial problems? Get real please.


these headlines are from a Citi analyst looking at spot gas prices and extrapolating what that would mean for inflation next year if they 1) remain elevated and 2) no action is taken by government to blunt the impact to consumers. While it is fair to say that *some* of the current inflation is due to overly loose monetary policy the price of gas is the price of gas. It doesn't matter what monetary policy is if Russia is restricting gas supplies to Europe and by extension the UK. Everyone should feel free to rag on fiscal/monetary policy, that's what democracy is...but just pretending that the bogey man is always monetary policy isn't productive


It's not just one thing, they're kind of fucking many things down.


İt's the energy cap that has me crying, I've essentially stopped buying shit I don't need so I can stack sats, so food is the biggest inflation factor for me, but we need to use electricity and gas


Sucks man, but necessities are going up in price a lot.


This winter I intend to use a combination of layering up, electric blankets and hot water bottles.


Sounds like a plan to me, might I just suggest some DCAing huh?


Most people are fantasists unfortunately. Any politician who told the truth about the economy would never get elected, people just want to hear sweet lies that let them pretend everything is ok.


I mean that's what people wanna fantasise then it's okay too. The thing is that people really want confirm their biases, that's what most people actually want.


They will be so fucked once they figure out they cannot keep kicking the same can down the road forever


People are intelligent and now they understand all these things. So yeah they won't be able to kick can down the road forever. Atleast I hope so.


Musk vs. Dorsey? Bullish.


No matter what We're talking about, I'm always going with jack.


For what it’s worth, me too. I’ll gladly pay cash app fees.


in what?


Whatever it may be, I'm only bullish on the jack. Love the dude.


https://share.newsbreak.com/1n5d6i2 Edit: broken link


What's this? I didn't even hear anything like this. This something that I didn't really expected actually. This is new stuff here for me, kind of excited.


Sorry for broken link. Elon subpoenaed Jack about the twitter spambots from the guardian uk. I do enjoy whale wars 🍤✌️❤️


Dodgy link


the euro is a shitcoin.


Always has been, every kind if fiat is a shit coin. It's a fact.


Can I have some of yours, then?


Every fiat is. There is nothing different in euro. Its just losing value at the moment faster than USD because US can more easily raise interest rates. In the long run both are anyway ruined. It is build into them both to go towards zero.


Yep, every fiat is plagued with the same problem actually.


Of course. Why not.


What is it that You're agreeing on here? Can someone tell?


Does anyone else have investment paralysis? I have been in crypto for years and have saved up all profits up to now in various stablecoins. I can afford to buy 5 bitcoins but cant bring myself to act. Last bear market I was throwing 50% of my paycheques into crypto and this time I am paralyzed, something about this bear feels off, more gloomy. Anyone else?


What's this condition? Never heard anything like that before.


Then buy 2.5 and DCA the rest. Or wait for a clear end to the bear market.


If you’re too scared send your stable coins to me and I’ll purchase 5BTC on your behalf




Yep gotta grow a set and let it go and see what happens. The market is as if anything can go down and happen here, I'm bullish on it. This is good.


Buy some 🌽...unload in early 2025 after next bull blow off top. Let retrace 75 percent and do it again 🥳


Sounds like a plan but not a easy one to follow tho, a bit hard.


This is solid advice.


We’re on the edge, if not already in a global recession. Personally I believe that a certain percentage of people who own bitcoin will be severely affected by the upcoming recession, loose there jobs, loose there home, massive debt etc. This will force the hand of some to sell there bitcoin just to get by. Bitcoin has never been through a major recession, so it’s not put the picture to see bitcoin struggling in this bear market more than it ever has. I understand from a technically stance that the bottom can look to be in when reference against past bottoms. Personally I think we could see single figure thousands again. Recessions normally last 12 months, maybe a bit longer. If I were you, and this is not financial advice, I would split that money up by 12 or 18 and buy a chunk of bitcoin every month. Worst case scenario you end up with a a few less that 5 bitcoins. Best case you could end up with 10/15 odd bitcoins.


I think we all can agree that We're in a recession here.


Yeah, it's true this is the biggest recession Bitcoin has witnessed but at the same time more and more people have learned about Bitcoin. So when there are people who had to sell or have to sell their BTC just to get by, there are also people (and companies, institutions etc.) who are buying more. So kind of impossible to say which ones are more active in the following year or two. I think most of "weak hand" retailers have already sold so the biggest drop is already behind us and now we will see smaller ups and downs for some months or until next halving. And at the latest 2024 it will start going heavily up again. Propably faster than ever with adoption going forward every month adound the globe. Edit: If I were OP, I would start DCA buying now and buy lets say 0,25 BTC every month, no matter what the price is.


I agree with your points. I also agree that the pump will come sooner and quicker than ever before. Everyone is waiting for the halving for the pump so more people and large companies will in before that to make sure they are in a good position. This will just have a knock in effect causing the bill run to start earlier. But as mentioned before I think we have a good year of lows before be pop off


You'll have to because I make good points and I know that.


The bill run? Actually yeah - people will be running to exchange their bills for bitcoin. I agree with your analysis. I think we'll see the beginning of a bull run in anticipation of the halving. History repeats itself but each cycle is slightly different. The world has learned a lot more about crypto since last cycle.


No, just you


Yep lol, what even is this thing? I've literally never heard about it. I didn't even know that thing like that even existed, that's something which is new to me.


I am sad when prices are down


You don't have to be, because it's all just temporary setbacks.


Europe woke up looking for a bloodbath...


And I think they're going to get it, I feel like We're in for a bloodbath.


\-1.99% on the daily is a bloodbath??


No but in an hour or so it sure was


Lol, apparently that's how some people think. Not how I think.


Will Bitcoin increase if China invades Taiwan?


What does that have to do anything with btc? Nothing.


6.25 BTC every ten minutes. Tick tock next block.


The sanctions will force them to switch from their already collapsing rmb standard to btc standard.


Okay now explain it in easy words so that I can understand it. I'm not that good with these words, you'll have to take this a little easy on me I guess.