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NottsRam77

By NottsRam77
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Stive Pesley
Stive Pesley

I for one am shocked that it did indeed turn out to be a massive ponzi scheme. Shocked

Gaspode
Gaspode

It means you need some athlete’s foot cream….

Eddie
Eddie

I think that people should create new crypto-currencies as a fun form of gambling. Step 1: Convert to pound coins Step 2: Find a drain Step 3: Throw coins at drain Step 4:

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Stive Pesley

Stive Pesley

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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?

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NottsRam77

NottsRam77

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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 

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NottsRam77

NottsRam77

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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 

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Stive Pesley

Stive Pesley

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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?

 

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NottsRam77

NottsRam77

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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 

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NottsRam77

NottsRam77

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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 

 

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NottsRam77

NottsRam77

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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 😉 

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Stive Pesley

Stive Pesley

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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 

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NottsRam77

NottsRam77

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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 by NottsRam77
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Wolfie

Wolfie

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3 hours ago, NottsRam77 said:

Coming to county near u 👀

https://twitter.com/ChopperBTC/status/1732024691462705229/mediaViewer?currentTweet=1732024691462705229&currentTweetUser=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

image.png.0e70a84d4a9ea766596bcc91e3c97ed8.png

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!?……

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Carl Sagan

Carl Sagan

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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.

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Stive Pesley

Stive Pesley

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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.

 

 

 

 

 

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Comrade 86

Comrade 86

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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 😋

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