Oldfag here AMA

its over, crypto is dead

>there is some blood on the street, start buying all the way down until there are rivers of blood and hodl for years

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i have a nw0 hairline

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thats bots

two questions:

when did you buy and what's your sell window?

$200
i am not selling

We should be looking for that kind of action?

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ill be putting 250k fiat into eth
now or DCA over the next 3 months?

half now half in 3 months

How much you cashed out?
Did you falll for the hodl meme?

What do you do to keep updated with the Charts? I've got BitUniverse on my android and mostly use tradingview on pc, are these decent enough?

that is the worst of the options

DCA daily, only real option

$0

DCA for sure

The Chad method is actually when $200 breaks on the upstrend

everyone is missing my question
looking at the overall crypto MC, it had done significant price discovery and was waiting for major news to push the price
but no news came

so one of two things is happening
a superimposed hash/ego war among btc mega whales has caused an excess dip due to mining each others coins to dump etc.
or there is important news that is not yet public

my question to the OG is if he knows of something that will be a major price driver in the next three months or should i just be buying everything I can while the market is artificially suppressed

if i didnt fall for the "hodl meme" i wouldnt be rich now and i would be raped by taxes and put on a list

by 2025 you can buy a villa with 1 bitcent in some bitcoin tax haven

oldfag here.. bought btc otc for $2.75 and solo mined it........ bottom is 2-3k. you have 9 months to accumulate as much as you can until next bull run starts... ive been telling biz this forever... own (chx) will go on an eth like run after mainnet dec.

Hmmm, why exactly 9 months?

craig wright has already basically admited calvin ayre ran out of money to fund his ego trip to keep mining at a loss and ver has shown abc is centralized with the checkpoints, so both forks are now done for and after this it should be clear contentious hardforks are a joke

i dont hold any alts

as far as buyish fundamentals... the fundamentals of bitcoin havent changed

its still unconfiscable hard money which you can send around the world without premission, decentralized, and the difficulty adjustment will keep an incentive for miners to mine and keep it secure, still worth at least half of gold's marketcap within the next decade

the features of bitcoin and its implications are obviously still not understood which is why we have assorted retards everywhere trying to reinvent the wheel with basically gimmicks because they are mad they missed on the very early gains

what we have now is just people coming in and out of another bubble burst cycle

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>the features of bitcoin and its implications are obviously still not understood

Read the white paper, retard.

The 6k floor being breached is literally the death of crypto for years to come. Anyone who understands TA even nominally agrees with me.

this :)

capitulation was never an option user
it's do or die

in 9 months it will hit a meme line

Here's an image I saved back when crypto was on Jow Forums. I'm glad it still can serve me well.

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He means by the normies brainlet

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COPE

I think it'll be 700-1000 again once all the normies are flushed out. Then it will gradually (years) be used more commonly/more valuable.

Since that was roughly the price before it was being mentioned on CNBC, mainstream media etc.

It's still too complicated for grandma to use it - but when it gets to that point then it'll be adopted.

I got into this late, but I sold off enough to break even basically. I actually was legit interested in using it as intended - but it was so volatile I didn't.

...what do you think of USDC or Tether? If USDC can be used as a crypto that is pegged to the dollar, what's the point of BTC? I really want to use cryptocurrencies... but with something like USDC it seems like BTC has no point. "Store of value" wasn't the original intent, no?

I'm an MtGox fag.
Sell everything.
6k WAS the bottom. That was where we popped. The bubble meme chart is for actual overpriced speculative markets. We already passed that shit, we popped back to 6k and now we are continuing down LEGITIMATELY. This is not the end of a bubble this is post bubble destruction. The money is legitimately going out to fund the hash war. It is not going to "rebound" or "retest" 6k. It is fucking GONE and SPENT. Sell because this shit is going to 1k-2k.

how did you cope with the last prolonged market downturn? did you just tune out of the market and stop checking Jow Forums or double down in learning about it, buying more all the way to the bottom?

>If USDC can be used as a crypto that is pegged to the dollar, what's the point of BTC?
Are you retarded?

if I want to actually buy everyday things, why the fuck would I want to spend a volatile currency?

good thread

>The money is legitimately going out
ok
>to fund the hash war.
Just lol if you believe that.
>this shit is going to 1k-2k
That would be absolutely fine. A lot of people have targets there. Lower would be concerning.

Bogged

youtube.com/watch?v=KV5QlSgq7lg

Retard lmfao

I'm an oldfag from the same era and these faggots don't deserve help. we need to clear out all the trash before a proper bull run can happen again.

and I have tried to help. every time I've ever offered an advice thread, retards just pepper the same stupid questions, "how much TRX should I buy? how much LINK should I buy? how much XRP should I buy?" most people here are not capable of profitable trading.

>mainstream media is now talking about bitcoin now, it is over

this seems familiar

>It's still too complicated for grandma to use it - but when it gets to that point then it'll be adopted.

it doesnt need to be used by (most) people for it to moon. reserve assets arent used by most people. like i said the fundamentals arent still understood by the market.

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this T.A faggot right?

there is no coping, you just buy. don't you get it yet you fucking newcoiner?

i did check biz from time to time to have a laugh and re-state my assumptions

i am ready to browse biz again for the next 2 or 3 years to get a good feel of accumulation period

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Thanks for the insight.

this honestly

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Spirit of Satoshi please make money fall from the sky or some shit so I can buy the dip.
Maybe tomorrow a package will arrive at my house with thousands of dollars...or maybe a long lost relative, who passed months ago but whos lawyer had a hard time finding me, is about to grant me millions so that I may buy and hodl...
I'll have no fiat to invest otherwise...

i mean its possible, ta is just self fulfilling prophecies.. but anything can happen. jooz can decide to pump it tomorrow to ath by announcing etf approved or whatever the fuck.

what matters here is: do you believe hard money trumps easy money long term? if yes then hold btc, if not then hold fiat

it is a battle of fundamentals long term

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TA is a fucking joke and I am looking forward to crypto getting washed out of faggots calling signals on twitter and collecting stupid fucks to join their premium signals group.

I remember being amazed that this digital shit I printed with my CPU being worth $1 back in the day. Everything happening right now is just part of a 4-5 year cycle. See all you fucking newfag dumb shits in 2023.

Clearly still in the optimism phase.

Why the bitcoin maximalism?
Dont you think there are at least some alts with utillity value? E.g. Monero , Ethereum.

Thanks will buy it

The BTC distribution is so top heavy that a single large holder leaving the market will cause a crash like this.
Way worse than fiat in regards to distribution.

perhaps the greatest benefit of using Jow Forums is that it submerses you in the whole spectrum of emotional states that correspond with market cycles. If you came here in December, you KNOW what it feels like to be in peak euphoria, just moments before the titanic goes crashing down. If you stayed here throughout June, you know what it's like to be strung along by deadcat bounces and altszns. If you stayed through September, you know what it's like to believe you've weathered the crash, convinced it couldn't possibly retrace another 50%--even though each previous crash has bottomed out by an average of 86%. It is an emotion aggregator that you should learn to use as a measuring stick for keeping your own delusions in check.

can you post chart?

well said desu.

there are some interesting projects but nothing worth it for me to move funds over and also get exposed to exchange risk and it just adds stress having to keep track of it

none of the altcoins are as safe as bitcoin and none really improve on it. they haven't gone throught the shit bitcoin as gone, they are deluded

non pow coins arent safe and as long as pow is it, then due pareto law electric power will tend to go to 80% due network effect regardless of hashing algo, highest accumulated pow adds value and so on

basically you need a time machine and release your coin before bitcoin to beat it, since the longer it survives the more valuable it becomes as you can point and say: look, x years with 0 compromised transactions

He's right and that makes you mad.

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>basically you need a time machine and release your coin before bitcoin to beat it
>implying bitcoin itself isn't a time machine
Bitcoin is literally a gift from the future to solve intransigent problems with central banking and provide people with a pathway to financial independence.

Monero

checked

I beg to differ on that. While the majority of my holding is bitcoin and litecoin I mined, I refused to continue mining when ASIC became the standard. While I don't ever foresee them ever passing bitcoin in marketcap, privacy coins have the biggest chance of being used as actual currency vs bitcoin being used as a store of value. I've been mining monero and other CN variants for years now and the only time I touch anything other than a crypto that obfuscates my transactions is when merchants do not accept monero. I loathe public blockchains with every part of my being. My mining wallets for bitcoin and litecoin only have input transactions, no outputs. I do not believe it is anyone business except my own how big or small of a stack I'm sitting on. And to this day, I have never put a dime of fiat into crypto.

give me your bitcoin op
also thanks for stopping by faggot, good to have you back

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when did you start mining?

>here are some interesting projects but nothing worth it for me to move funds over and also get exposed to exchange risk and it just adds stress having to keep track of it

alright fair enough.

>none of the altcoins are as safe as bitcoin and none really improve on it. they haven't gone throught the shit bitcoin as gone, they are deluded.

it is true that none are as safe as bitcoin by virtue of how battle-tested and old bitcoin is but to say they dont really improve on it is a little disingenuous.

>non pow coins arent safe and as long as pow is it, then due pareto law electric power will tend to go to 80% due network effect regardless of hashing algo, highest accumulated pow adds value and so on.

i agree that there arent any non-pow alternatives.A question for you beside the point ,what has been your thinking when it comes to the bitcoin energy problem? it uses more power than some countries.

how many btc do you own and did you sell any at ath?

Thanks for this

August of 2010. It was pretty neat watching my wallet going up by 50 btc all day long.

Jow Forums sentiment Dec 17
>it's different this time
>institutional money is here
>it's never coming back down

Jow Forums sentiment Nov 18
>it's different this time
>the normies got burnt
>it's never going back up

damn that sounds nice.
what would you recommend mining now? just monero?

whats your bitcoin discovery story? (howd you find about it)

Are you sure you won't an hero after putting 250K into it? Sounds like too much money to be afford to lose.

i found it browsing techcrunch.. it was probably the first post about it. the post had a youtube video showing cartoon miners. i was like, i wanna go all in on this but i didnt know if or when it would ever be worth anything. the community back then was small but they were the smartest people and will be multi millionairs today. they didnt even cncider selling any until 10-100k

I stumbled upon it one day by accident while surfing sourceforge for ideas of an in game currency I could use on a website game I had. Decided to jump into it out of intrigue and instantly became hooked.

XMR is always good. I have mined aeon and a few others. I have also very heavily mined turtle coin

I hate to be a fag but I appreciate your taste in proof of work currencies and would like your opinion of pic related

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Absolute garbage

what do yo think about Cardano and Neblio?

>hodl for years
how many?

time capsule
Bought my first at 30.
Panic bought LSD shrooms and 100g weed at 200 and rebought in october at 88 after the silk road bust. That was a mad bull run

/thread
/bitcoin

I am sick to death of you fucking retarded irrational boomer corecucks who appear to be utterly unable to actually run the simulations in your head of how the system works to understand the nonsense you're spinning is fucking bullshit and you just swallow wholesale propaganda that props up your weak fucking position.
> craig wright has already basically admited calvin ayre ran out of money to fund his ego trip to keep mining at a loss
I wouldn't even bother to mention this because that guy is so fucking inconsequential, but because it indicates you actually understand miners won't mine at a loss for an extended period of time, I draw your fucking monster slurping ass to this fact which you just clearly acknowledged. Keep it in your fading neurons as we proceed forward and also keep in mind that about 40-50 exahash of mining power exists in the world today.
> abc is centralized with the checkpoints
Now this is important, because of the above. Miners mine whatever is most profitable, and the net major distribution of mining is based on the profitability calculus at any given point in time. This has been true since the first BCHBTC split, and all delusions to the contrary are utterly false. Miners at the time dropped the hashrate for BTC by 90% and are completely happy to do that to any coin at all en masse. If you had half a fucking brain you would realise what this actually means insofaras it relates to the assumptions of the whitepaper; Nakamoto consensus is broken. The miners do act in their self interest, and their self interest isn't necessarily in the interests of the chain. This is a fucking fact and you need to suck it up and accept it.

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Given that unquestionable fact, you need to construct a mechanism for security out of that territory, not the assumption that the miner's self interest and the chain's interest is aligned. And that is exactly what those checkpoints do, they mean that mining is demoted from the roles of actually deciding which ruleset to use going forward, and assigned instead to simply enforcing that ruleset in the short term over the ledger.
From your own narrative, this was already correct as soon as BCHBTC split happened because the reason for that split broke nakamoto consensus, as miners were prepared to let BTC die entirely because it was less profitable than BCH, but now even from the perspective of people who believed that BCH was unequivocally correct to fork from BTC and it was the developers who required sanction, we now have a case where the ongoing hashrate based on market conditions is inadequate to defend against an irrational actor signaling for an idiotic ruleset which they demonstrably can't fucking handle.
So, if hashpower as a final judicator is broken, and developers as a final judicator is also broken, and all the individual pieces of the system as a final judicator is broken, the only way to assemble an actually robust system from those broken pieces is not to rely on any single one of them. And that is exactly what happens when you add checkpointing. Hashpower still matters, code issued for nodes still matters, market price still matters, all of it matters. No single piece of the puzzle holds primacy anymore. And what's more this indicates that the ABC devs are not dogmatic about doing what works. They understand the goal of the project; tamper and censorproof peer to peer electronic cash for the entire world, and they will do whatever is necessary to accomplish that goal.

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> the fundamentals of bitcoin havent changed
And this is what you sad boomer fucks have to have rammed through your paper thin skulls once and for fucking all. YES THEY FUCKING HAVE. They changed the moment the one meg limit was made permanent, and all your hedging about how it doesn't matter if niggers can't buy KFC with bitcoin don't change that one fucking iota. Because the large volume of the trade in an asset is what sets the fucking price for that asset. And when the large volume in trade on the asset in question is restricted to centralised controlled and prone to sabotage and manipulation channels, that volume can be manipulated, which means in turn that the price can be manipulated and purchasing power stolen from the instrument. The lower the artificial tx throughput limit is, the easier it is to run this very simple and centuries old con, and that is exactly why your "reserve asset untouched by niggers" status is a complete fucking illusion, the exact same way sad fucking boomers in gold think the same thing about their bullion, blissfully ignorant or desperately trying to ignore the fact that on the largest global exchange in the world for gold, there's a fucking 542:1 ratio between the paper tokens for it and the actual physical bullion. This is a simple consequence of the asset backed financial model, and the one meg limit which you tards swallowed wholesale without the slightest fucking iterated game theory considerations implements the exact same nash equilibrium on the motherfucking BTC blockchain you butt smoking asstard motherfucker.

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> the difficulty adjustment will keep an incentive for miners to mine and keep it secure
Which brings me to our final point in this hard knocks school for deluded boomer cunts. What the fuck happens when a supply adequate to issue coercive force in a certain realm exists in such numbers that the base economic incentive for the maintenance of the realm is wholly inadequate to incentivize even a fraction of that supply to act in the interests of the realm? Well that supply goes fucking rogue and starts cutting the realm up into its own little pieces, extracting by force whatever value it can. This equilibrium has been observed for millennia prior to the onset of blockchains with failing economies presided over by incompetent dictators and sprawling martial corps to "keep the peace". Absent the economic incentive to do so, they start doing the exact fucking opposite.
And your shitcoin is predicated on this thing that the sabotage thereof which makes its value worthless now guarantees.
The difficulty adjustment must slowly trend downwards to the point where a small fraction of the existing hashpower in the world can arbitrarily tamper with the chain, and so THAT IS WHAT WLL FUCKING HAPPEN YOU STUPID FUCKING ASSHAT.
Get it through your head; BTC is utterly worthless, and it's worthless because of ignorant boomer cunts like you who wouldn't understand the technical facts of the landscape in a hostile environment if they up and bit you on your depends wearing fucking ass.

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you missed a really good opportunity to end with a link shill and thereby immortalize yourself in the hall of great shitposting

So if BTC is a no go, and ETH is useless. wat do? what coin will make my crypto utopia a reality?

there is only one usecase and therefore only one coin: XMR

Nothing until they all decouple from king shitcoin.
Then you take your positions based on the merits of the various approaches in light of the way in which BTC has utterly failed.

You are the reason this happened. Fork fag.