NottsRam77 Posted October 18, 2023 Author Share Posted October 18, 2023 Meanwhile The powers that be now dont even hide the fact that they are devaluing the money in your pocket 🤷🙈 Link to comment Share on other sites More sharing options...
NottsRam77 Posted October 18, 2023 Author Share Posted October 18, 2023 and this is a brilliant and simple explanation as to how this happened and why it matters Link to comment Share on other sites More sharing options...
Stive Pesley Posted October 18, 2023 Share Posted October 18, 2023 Quote No one can debase bitcoin Erm Bitcoin halving is when the reward for Bitcoin mining is cut in half. Halving takes place every four years. The halving policy was written into Bitcoin's mining algorithm to counteract inflation by maintaining scarcity. Isn't that much the same thing? Link to comment Share on other sites More sharing options...
NottsRam77 Posted October 26, 2023 Author Share Posted October 26, 2023 On 18/10/2023 at 21:38, Stive Pesley said: Erm Bitcoin halving is when the reward for Bitcoin mining is cut in half. Halving takes place every four years. The halving policy was written into Bitcoin's mining algorithm to counteract inflation by maintaining scarcity. Isn't that much the same thing? No 😂😂 its quite literally the opposite Link to comment Share on other sites More sharing options...
NottsRam77 Posted October 26, 2023 Author Share Posted October 26, 2023 (edited) On 18/10/2023 at 21:38, Stive Pesley said: Erm Bitcoin halving is when the reward for Bitcoin mining is cut in half. Halving takes place every four years. The halving policy was written into Bitcoin's mining algorithm to counteract inflation by maintaining scarcity. Isn't that much the same thing? To clarify when a currency is debased … its losing value Its value /buying power is being debased, devalued .. ie u need more of it to buy the same asset And extream and simple example last year a loaf of bread cost £1 this year that same loaf of bread costs u £1.25 the value / buying power of that pound against that loaf of bread has been debased to the tune of 25% the bitcoin halving is as u described the amount (not value) of bitcoin that can be mined per day is halved. the halving is all about the amount of bitcoin that is produced. this creates scarcity .. theres less of it .. it costs the same amount to mine less. this scarcity has lead to a price spike in all the cycles previously … assuming demand stays the same , the same will happen and if the bitcoin etf happens and institutional money comes in… well.. then hold onto ur seatbelts Edited October 26, 2023 by NottsRam77 Link to comment Share on other sites More sharing options...
Bris Vegas Posted October 26, 2023 Share Posted October 26, 2023 Crypto is just an unregulated playground for scammers and ‘influencers’ to rob you of your money. Coffeezilla has a great Youtube channel which exposes frauds like Logan Paul and how he is robbing his fans. Link to comment Share on other sites More sharing options...
Stive Pesley Posted October 27, 2023 Share Posted October 27, 2023 15 hours ago, NottsRam77 said: this scarcity has lead to a price spike in all the cycles previously … assuming demand stays the same , the same will happen But that's the bit I don't get If the figurative loaf of bread costs me 1BTC today - after halving and the price spikes, that loaf of bread is going to cost me more than 1BTC because BTC will be more expensive Or am I missing something? Link to comment Share on other sites More sharing options...
NottsRam77 Posted October 27, 2023 Author Share Posted October 27, 2023 (edited) 18 hours ago, Bris Vegas said: Crypto is just an unregulated playground for scammers and ‘influencers’ to rob you of your money. Coffeezilla has a great Youtube channel which exposes frauds like Logan Paul and how he is robbing his fans. Crypto is .. crypto is centrally controlled crap, bitcoin isnt why do u think every hedgfund worth its salt are applying for etf approval right now what more adoption do u want that its real and here to stay than institutional investment .. the people that hold ur pension pots ? no one controls it so no one can rob u fiat money (pounds, dollars, rupee,euro) are all controlled by politicians and banks who dont care about if ur weekly shop has gone from 100 to 140 quid in a year inflation is a tax … your being robbed right now Edited October 27, 2023 by NottsRam77 Link to comment Share on other sites More sharing options...
NottsRam77 Posted October 27, 2023 Author Share Posted October 27, 2023 6 hours ago, Stive Pesley said: But that's the bit I don't get If the figurative loaf of bread costs me 1BTC today - after halving and the price spikes, that loaf of bread is going to cost me more than 1BTC because BTC will be more expensive Or am I missing something? Yes lol Bitcoin is an asset , its a store of value, its the worlds biggest open source ledger that anyone in the world can access anywhere they want by a touch of a button. it is not fiat currency that loaf bread u bought .. u would pay for it in fiat so dollars , pounds Bitcoin has gone up 50% from this time last year against the dollar so last year if one bitcoin was 1 dollar that loaf would have cost u 1 btc this year the same loaf will have cost u 0.5 btc Stive Pesley 1 Link to comment Share on other sites More sharing options...
Wolfie Posted October 27, 2023 Share Posted October 27, 2023 7 hours ago, Stive Pesley said: But that's the bit I don't get If the figurative loaf of bread costs me 1BTC today - after halving and the price spikes, that loaf of bread is going to cost me more than 1BTC because BTC will be more expensive Or am I missing something? Typical leftie grasp of economics😜 Mostyn6, NottsRam77 and Stive Pesley 3 Link to comment Share on other sites More sharing options...
NottsRam77 Posted December 3, 2023 Author Share Posted December 3, 2023 (edited) Just crossed 40k .. highest price in 18 months and still 5 months til halving Who knows with the impending etf approval in jan but expecting a december sell off but pretty safe to say the bear market is over with pending etf approval soo 19k (start of this thread) seems a long time ago 😉 Edited December 3, 2023 by NottsRam77 Link to comment Share on other sites More sharing options...
Stive Pesley Posted December 4, 2023 Share Posted December 4, 2023 9 hours ago, NottsRam77 said: Just crossed 40k .. highest price in 18 months and still 5 months til halving Who knows with the impending etf approval in jan but expecting a december sell off but pretty safe to say the bear market is over with pending etf approval soo 19k (start of this thread) seems a long time ago 😉 This is $ though right - not £? Anyway - i read that there are 50 million unique Bitcoin addresses that hold a non-zero balance, and around 19.6 million BTC in circulation So that's an average of 0.39 BTC per holder (in reality that's not going to be close to true as I think the majority of those 50 million addresses will only hold small amounts, and a small number will hold huge amounts...but anyway - even at 0.39 BTC as an average, that means the average wallet is worth $15,600 (or just over £12k). That figure surprised me as the way the cryptobros talk I assumed we were talking values of several 100k Link to comment Share on other sites More sharing options...
NottsRam77 Posted December 4, 2023 Author Share Posted December 4, 2023 (edited) 3 hours ago, Stive Pesley said: This is $ though right - not £? Anyway - i read that there are 50 million unique Bitcoin addresses that hold a non-zero balance, and around 19.6 million BTC in circulation So that's an average of 0.39 BTC per holder (in reality that's not going to be close to true as I think the majority of those 50 million addresses will only hold small amounts, and a small number will hold huge amounts...but anyway - even at 0.39 BTC as an average, that means the average wallet is worth $15,600 (or just over £12k). That figure surprised me as the way the cryptobros talk I assumed we were talking values of several 100k Its in dollars yes in terms of wallet size and value .. one everyones definition of a lot varies if i can wack a load off my mortgage thats a big fat win for me others may want to to walk away as millionaires .. who knows its all relative Re 40k … imo weve not even begun halving still 5 months away and etf expected jan My expected exit point will be circa mid 2025 , but who knows not financial advice .. just sharing for s**** and giggles Edited December 4, 2023 by NottsRam77 Stive Pesley 1 Link to comment Share on other sites More sharing options...
NottsRam77 Posted December 5, 2023 Author Share Posted December 5, 2023 Coming to county near u 👀 https://twitter.com/ChopperBTC/status/1732024691462705229/mediaViewer?currentTweet=1732024691462705229¤tTweetUser=ChopperBTC Link to comment Share on other sites More sharing options...
GboroRam Posted December 5, 2023 Share Posted December 5, 2023 8 minutes ago, NottsRam77 said: Coming to county near u 👀 https://twitter.com/ChopperBTC/status/1732024691462705229/mediaViewer?currentTweet=1732024691462705229¤tTweetUser=ChopperBTC I'm sure it's a very good article, but the dumpster fire that is xitter won't open for me. Link to comment Share on other sites More sharing options...
Stive Pesley Posted December 5, 2023 Share Posted December 5, 2023 the tweet doesn't exist - but the account does. Is it this that you were linking to @NottsRam77 Link to comment Share on other sites More sharing options...
Wolfie Posted December 5, 2023 Share Posted December 5, 2023 3 hours ago, NottsRam77 said: Coming to county near u 👀 https://twitter.com/ChopperBTC/status/1732024691462705229/mediaViewer?currentTweet=1732024691462705229¤tTweetUser=ChopperBTC 3 hours ago, Stive Pesley said: the tweet doesn't exist - but the account does. Is it this that you were linking to @NottsRam77 A country that’s been an economic and monetary basket case for decades - with current inflation at 143% wants a new currency that is proven to halve its value at short notice. What could possibly go wrong!?…… Crewton and Stive Pesley 2 Link to comment Share on other sites More sharing options...
Carl Sagan Posted December 6, 2023 Share Posted December 6, 2023 1 hour ago, Wolfie said: A country that’s been an economic and monetary basket case for decades - with current inflation at 143% wants a new currency that is proven to halve its value at short notice. What could possibly go wrong!?…… Precisely because of their inflation rate, with people's money being devalued, is why Bitcoin is attractive to Argentines. Previously, the banks could simply print twice as many pesos, and the value of the money is someone's pocket would halve. But that cannot be done with Bitcoin. Mathematically its supply is limited. This is why it is "the people's money". The pesos belong to the banks and they can (and do) do what they like with them. The Bitcoins belong to the people. NottsRam77 1 Link to comment Share on other sites More sharing options...
Stive Pesley Posted December 6, 2023 Share Posted December 6, 2023 11 hours ago, Wolfie said: A country that’s been an economic and monetary basket case for decades - with current inflation at 143% wants a new currency that is proven to halve its value at short notice. What could possibly go wrong!?…… It's understandable that people are sick of the crippling inflation on the peso, and will be desperate enough to vote in a populist far-right leader who promises to tear it all down and start again, but you'd have to be a special type of idiot to think that moving to BTC as legal tender will give "the people" the stability they want. The crypto bros will be rubbing their hands in glee at the idea of a nation with an adult population of 30 million, suddenly trying to buy up as much BTC as they can. Wolfie 1 Link to comment Share on other sites More sharing options...
Comrade 86 Posted December 6, 2023 Share Posted December 6, 2023 7 minutes ago, Stive Pesley said: It's understandable that people are sick of the crippling inflation on the peso, and will be desperate enough to vote in a populist far-right leader who promises to tear it all down and start again, but you'd have to be a special type of idiot to think that moving to BTC as legal tender will give "the people" the stability they want. The crypto bros will be rubbing their hands in glee at the idea of a nation with an adult population of 30 million, suddenly trying to buy up as much BTC as they can. Suspect the crypto bros were rubbing their hands when the price dropped to £14K last December 😋 cstand 1 Link to comment Share on other sites More sharing options...
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