The bitcoin market is collapsing

 
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freetown fred
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Post by freetown fred » Fri. Apr. 16, 2021 12:47 pm

Still fallin for it huh??? NOW!! tesla, there's a wiener--whoops--I meant winner!! LOL
lsayre wrote:
Fri. Apr. 16, 2021 11:01 am
bigger fool = counter-party

the risk of there always being a bigger fool = counter-party risk

$61,546 as I'm typing this.

Over 100,000 Bitcoin millionaires at present.

Elon Musk announced that Tesla has purchased $1.5 billion worth of Bitcoins.


 
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Post by lsayre » Fri. Apr. 16, 2021 2:16 pm

I'd almost be willing to bet that someone as astute with computers as our forum Mayor is actively mining for cryptocurrencies.

 
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Post by coaledsweat » Fri. Apr. 16, 2021 2:32 pm

There's only minute bits and pieces left to mine as it is almost at the cap.

 
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Post by lsayre » Fri. Apr. 16, 2021 2:34 pm

Coinbase is going public with a stock offering that should rake in about $100 Billion on day one.

 
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Post by lsayre » Fri. Apr. 16, 2021 2:36 pm

coaledsweat wrote:
Fri. Apr. 16, 2021 2:32 pm
There's only minute bits and pieces left to mine as it is almost at the cap.
Effective today: 2,315,600 Bitcoins remaining to be mined. Out of what I believe to be about 21 million total.

 
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Post by coaledsweat » Fri. Apr. 16, 2021 3:04 pm

lsayre wrote:
Fri. Apr. 16, 2021 2:36 pm
Effective today: 2,315,600 Bitcoins remaining to be mined. Out of what I believe to be about 21 million total.
Yup. And there's 3-4 million already lost forever.

 
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Post by lsayre » Fri. Apr. 16, 2021 3:16 pm

coaledsweat wrote:
Fri. Apr. 16, 2021 3:04 pm
Yup. And there's 3-4 million already lost forever.
Talk about crying over spilled milk. The people who lost them or had them stolen are seriously grieving. That's about like winning the lottery and then losing the ticket.


 
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Post by lsayre » Fri. Apr. 16, 2021 3:20 pm

What would truly be sad is if there is secretly embedded code within the Bitcoin algorithm that erases everything at the very moment when coin #21,000,000 is successfully mined.

 
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Post by freetown fred » Fri. Apr. 16, 2021 4:41 pm

At least with that lotto ticket--ya know YOU screwed up. Nobody was connin ya!!
lsayre wrote:
Fri. Apr. 16, 2021 3:16 pm
Talk about crying over spilled milk. The people who lost them or had them stolen are seriously grieving. That's about like winning the lottery and then losing the ticket.
Last edited by coaledsweat on Fri. Apr. 16, 2021 4:48 pm, edited 1 time in total.
Reason: Fixed quote box

 
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Post by lsayre » Mon. Apr. 19, 2021 7:06 am

When did currency cease to be merely a portable and transferable and stable "representative" of stored/accumulated/earned wealth, and begin to be wealth in and of itself? A form of wealth that is anything but stable. A wealth that is exponential.

Sort of the opposite of:
I never cheated an honest man. They all wanted something for nothing, and* I offered them nothing for something.
Where: and* = 'and to reveal the core of their inner beings hypocrisy, corruption, error, evil, and sin'

With the spin being:
They all wanted something from nothing, and Bitcoin (etc..., crypto in general) offered them exactly that!
Perhaps Bitcoin is merely the flip side of a con coin? When something comes from nothing it should raise skepticism, not expose a universal primal urge.

The crypto game is still in its infancy. Those who got in early on things like the Madoff con and the Tulip Bulb craze made fortunes.

 
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Post by freetown fred » Mon. Apr. 19, 2021 7:36 am

Let's face it--it's also the main ingredient of racism!!!!!!!!!!!!!!!!!!!!!!!!!!! LOL

 
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Post by lsayre » Tue. Apr. 20, 2021 8:28 am

Dogecoin, started admittedly as a joke, but then discovered by Elon Musk, has gone from about $0.04 to about $0.45 in less than 20 days. There are now $52 Billion invested in Dogecoin.

I've come to the conclusion that our conception of money (and thereby, of what we are willing to refer to as money) has lost intent, meaning, and relevance, and is now in and of itself likewise merely a joke.

How many Dogecoin millionaires are there?

 
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Post by freetown fred » Tue. Apr. 20, 2021 11:20 am

Just me I'm thinkin Larry!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!! :)

 
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Post by freetown fred » Wed. Apr. 21, 2021 2:03 pm

Larry, you're up on all this--"bit-coin hits flash crash"??????????????????????? What exactly might that mean?

 
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Post by lsayre » Wed. Apr. 21, 2021 2:26 pm

freetown fred wrote:
Wed. Apr. 21, 2021 2:03 pm
Larry, you're up on all this--"bit-coin hits flash crash"??????????????????????? What exactly might that mean?
Bitcoin just fell to $55,400. And Dogecoin fell to $0.31


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