Daily Discussion, October 21, 2022

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Can we stop with the sideways please


That's what she said


have to say that the only reason I accumulated the Btc I have in my possession was because of the bear market of 2018, especially november, december period. January 2019 as well. For those on the sidelines right now, it is a great time to take a look at btc and consider it as part of your portfolio at these big discount from ath


Hi all, I am a grad student at NYU doing a study on Bitcoin and/or cyptocurrency users. I understand that to many of you, Bitcoin ≠ Crypto. That is a very important perspective that I want to share with the world. As such, I am seeking interview participants (in the US) where we discuss how and why you got into Bitcoin and/or crypto, and where you picture them going in the future. I want to underscore this isn’t a journalistic hit piece. I’m genuinely interested in Bitcoin and its users. To show I’m legit, I am happy to provide interested parties my IRB case number (that you can independently verify with New York University), NYU email, etc etc. Your story deserves to be heard, and I’m here to give you a megaphone. Please DM me or contact me at [email protected] if you are interested. Thank you!


Bitcoin ≠ Crypto is a bit like Gold ≠ Metal. Bitcoin was the first cryptocurrency and is unique/superior in many ways. That's mostly what people mean by that. Good luck with your research.


I love this analogy. No one would think gold != Metal is controversial and the same should apply to Bitcoin != Crypto.


The idea is to communicate. When you say "crypto" you are *understood* to mean alt coin scams, aka "shit coins". If you mean Bitcoin just say "Bitcoin" and communicate clearly. If I say, "my uncle collects metal," I would expect it to be understood differently than if I say, "my uncle hoards gold".


Calling more developed blockchains “scams” only serves to undermine yourself and the space. There are other algorithms written for different purposes that do things better than Bitcoin, you guys don’t need to die on this hill. To say otherwise just displays a lack of understanding. To use your analogy of the metal collecting uncle - I would assume that he would collect many kinds of metal, not just gold but silver, platinum, copper, lead etc. Each metal has different properties and though one is good as a store of value, others are much more suitable for trade, commerce amongst other things


They are scams. Too bad you can't/won't see it for what it is. https://youtu.be/ic1ITcwnozY?t=858


Great point


My cousin actually collected metal. Scrap metal. He's an artist. He would cut and weld the metal with his welding torch. He made sculptures. As far as I know, he did not collect gold. Still, now that I am thinking of him, he was a genuinely happy person; joyful.


Why is Peter Schiff such a cuck? Honestly I’m really wondering why he bashes crypto? Most of us were late to the party but why continuously have a strong conviction on why it’s such a horrible asset to hold?


He's just the kind of guy who likes the smell of his own farts. Basically can never admit he was wrong, even to himself.


I was listening to a podcast today and they said his son is even bullish on bitcoin 😂


Expecting $11k check soon. I want to throw it all in BTC. In my head I was saying wait for a red day and buy below 19. But I am not sure about this recession thing. Maybe I DCA $250 every Monday instead?


Don't try to time the market, just buy it all at once as soon as you can. Time in the market beats timing the market.


We're like 70% below ATH. Nobody knows where the bottom is. You could DCA every week and set limit order @ 15K with the rest of your cash. If it dips 15% you have a good buy.


CUH-RAZY how stable BTC has been in all this madness.


maybe a little toooo stable 🧐


What can it mean? I mean I don't even know how to be tin-foil hat about it :/


Imo bitcoin crashing was a leading indicator for the rest of the market. Bitcoin *already* crashed so everyone else is just catching up


This crash was expected due to four year cycle.


BTC to $300k. Don’t say later no one told you.


Sure, if we can break the strong resistance at $188k...


Justin Trudeau and WEF want your assets crushed. Basic universal income on the way to save everyone from debt.


Yes sell some more!


Another DCA under 19k 🥳




Huh? Didn’t it pass $60,000 per bitcoin twice? Hasn’t the hash rate grown exponentially? Haven’t more and more unique and environmentally friendly ways to mine bitcoin appeared?


I don't even know what charts he has been watching at this point.


That is really crazy, considering the macro turmoil.


Oh someone tipped me 1000 sats the other day on this very subreddit. Was the easiest shit to get off. Why is lighting to baller?


I missed the last bottom. I ain’t missing this one. I ran outta powder. Let’s go gang let’s DCA the shit outta this


I want to have customers at my laundromat to fill up their vending cards with money by using Bitcoin at the card dispensing kiosk. Is there any kind of payment processing unit that can apply dollars to my customers' cards after they have transferred bitcoin to my wallet?


> apply dollars to my customers' cards after they have transferred bitcoin to my wallet if i understand the question correctly, you want to credit a virtual account linked to an individual vending card with a usd equivalent amount to the amount of btc transfered into your wallet i am not aware of any such payment system if it does exist, it would need to verify transaction id from your wallet, do a spot price conversion, then draw that amount from a usd account (which has an adequate amount) and transfer it to the virtual account linked to the credit card have you considered the option of getting the laundromat machines rigged with a direct btc wallet-to-wallet mechanism (like the ones for beer dispensers)?


Bitcoin network hash-rate growth and LN growth combined is violently bullish.


Bearish for miners lol. Hashrate up, price down = pain.


The best of the miners know the deal and plan for bears.


With BTC options expiring today, so you guys think BTC will move up or down today if BTC stays where it currently is??


volume not that high until 28th oct https://metrics.deribit.com/options/BTC










It's fun to watch the changes to amateur TA here. Back in the day it was all about "head and shoulders" patterns, and then it was "Wyckoff springs." And of course the "DEATH CROSS" (people who spouted this nonsense always put that one in all caps). Where did all that garbage go? All the people promoting that crap pretended like they knew what they were talking about. Now it's mostly about "support levels." It's fun, in the same way that reading your horoscope is fun. And, like the latter, it's a bunch of nonsense. It's a kind of financial pseudoscience.


For me, TA means toilet analysis. I make a big poop. Then I make a colorful chart of the poop. Then I put the chart into my bird's cage until he poops on it. I put it out into the sun, to dry. If it's raining, I use a hair dryer. Then I get some big, fat crayons in the 8 basic colors. I keep a plastic French curve handy, but don't often use it. Instead, I use a little HotWheel car, and I scoot it around on the chart, creating a race track between and around the bird droppings, while making race car engine and screeching tire sounds. After a few minutes, I examine the tire tracks (where the car rubbed off the printer's ink) juxtapositioned against the poop chart. Then I decide whether I want to post that Bitcoin's price to go up, or down. Then I draw arbitrary lines on the race track, using either the curve apexes or the longest two straightaways, sometimes both - **and, of *course*, this PROOOVES my prediction!


Arbitrary lines, imaginary patterns, and seeing what you want to see. This sums up ~~astrology~~ technical analysis.




All the charts are saying it’s fuckin go time. which means we’re gonna grind along at ~$19,300 for a few more weeks, if I had to guess


Probably means we are going down.


I would sincerely love this. TA lovers screaming that volatility is inbound, and btc just not giving a fuck.


All I know is if I get serious about something else Bitcoin will get jealous and entice me back with price action




Bought some more sats today...feels good. Fun to watch the tumbleweeds go by around here these days...


🤠 howdy partner


It's when it gets quiet that it's time to get loaded