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426K views 5K replies 304 participants last post by  American Chestnut 
#1 ·
Today, Mt Gox suspended withdrawals.

The suspension caused a decline in Bitcoin prices of close to eight percent, so far today!

If you recall, the US Government seized $5 million of Mt Gox bank accounts that were carried in the US.
 
#2,421 ·
https://www.ccn.com/top-economist-way-to-kill-bitcoin-keep-price-under-1000/

“Alex Kruger, an economist and trader, took to Twitter to share his thoughts on how anyone can eliminate bitcoin for good. The economist claims that any government can kill bitcoin by keeping the price below $1,000.”

Taxpayer money being used to manipulate market prices.
Sounds a lot like what governments have been doing to gold and oil.
 
#2,423 ·
If the prices of our food items went up like cryptos have it would not be thought of as deflationary.

The only reason fiat is inflationary is because the governments keep printing,,,,,,,, Kind of like cryptos, they keep making new ones and diluting the market.

Where exactly did you come up with the deflationary aspect for cryptos?
 
#2,424 ·
Where exactly did you come up with the deflationary aspect for cryptos?

Bitcoin is (as are most altcoins) deflationary because it has a finite quantity:
https://charts.bitcoin.com/btc/chart/inflation#5moc

And because it’s mining reward gets cut in half on a regular basis:
https://blockonomi.com/bitcoin-deflation/

The effect of crypto on the financial industry is deflationary:
https://cointelegraph.com/news/financial-system-blind-to-cryptos-deflationary-impact-says-analyst

Or you can tweek crypto into whatever the market is interested in backing:
https://cryptoticker.io/en/simulate-inflation-deflation/

Crypto is everything that fiat would like to be.
 
#2,427 ·
Crypto is a great trading investment!
Plenty of dips to purchase.
Plenty of FOMO runs to profit from.

If one believes that this technology will change the world,
then missing the exact bottom or top is not catastrophic.
In five years, the best digital assets will be up 10x+.
Higher highs and higher lows will bailout all but the most incompetent investors...
those that get scared and sell if the investment tanks more than 8%!

Bitcoin, at one point yesterday was down 12%.
Palmettotree would have permanently locked in his loss.
 
#2,429 ·
Then you had better keep your head firmly planted in the sand,
because crypto is here little buddy.

https://www.forbes.com/sites/steven...ypto-at-this-years-thanksgiving/#6794d5ec1c85

Both the U.S. and the Chinese Presidents are holding press conferences to discuss crypto.

The ECB is talking about it:
https://www.bloomberg.com/news/arti...ges-new-policy-mix-in-challenging-environment

Elan Musk, Bill Gates, Mark Zuckerberg, CZ Binance, etc. Movers-n-shakers... all discussing.

My favorite:
https://bitcoinexchangeguide.com/ca...oin-will-see-100000-calls-crypto-unstoppable/

Arguably the smartest man on the planet says “ Crypto is the future”
He calls it “unstoppable”.
Preach it Charles!

2 years ago it was fashionable to belittle crypto.
2019 was the year of relevancy.
2020 will be the year of adoption.
China and the EU will have a digital coin. Indian, Russia maybe.
Slothful USA, probably not.
2021 crypto will be ubiquitous.
2025, people will lament their missed financial opportunity of a lifetime.

Wake up and smell the bittulips !
 
#2,436 ·
A rotation out of crypto and FOMOing into the juiced stock market.
Retracements are always painful.
Remember that crypto is not the first to go Down this bumpy road.

In the 2001/02 DotCom crash:
Nasdaq down 79%, low 1100, today 8618
Apple down 85%, since 2002 all time low? +21,000%
Amazon down 98%, since 2002 all time low? +33,000%

Disruptive technology is turbulent.
“Buckle up bitches!”
 
#2,446 ·
alright one more I promise....

I was seeing predictions of bitcoin hitting 100 million in 20 years.... easily going to happen...

https://hackernoon.com/what-will-bitcoin-look-like-in-twenty-years-7e75481a798c


Another reason that we find it difficult to predict the future is because we are preconditioned. There are exceptions, but for the most part teachers, politicians, and news media serve up the status quo at best, and push negativity at worst. Positivity doesn’t sell newspapers...”if it bleeds, it leads”.

Look at the negativity just in this thread:
- crypto is only used by criminals
- we don’t need no stinking bittulips
- unethically promoting a Ponzi

Shortsighted dismissal.
Purveyors of the status quo.
No vision of what could be.

Fortunately, every day the eco system chugs forward.
Every day, Debbie-downers get converted.
Digital assets will be an evolutionary revolution.
 
#2,445 ·
I am in agreement that online advertising sucks.
However, as consumers we embrace it.
There is very little pushback.
Cable tv was supposed to be “commercial free”.
Similarly, XM radio.
But when given the choice of pay per view OR advertising,
society chooses against subscriptions.

SurvivalistBoards is just trying to monetize their Internet forum.
Crypto micro payments might offer a third option.
The ability to monetize, but offer the consumer the ability to be selective.
For example...no advertising, but an online reader pays 1 penny to
read the “why is bitcoin at $608” thread.
Or 5 cents to gain access to all SB financial threads.
That could be a viable alternative if the reader has no interest in the other threads.

But as stated before, that can only be done with crypto.
Credit cards and PayPal will not accept micro payments.
 
#2,448 ·
crypto may end the annoying ads! great point man! you blow my mind with all of this stuff.... you could easily write a book right now simply with the stuff you have posted in THIS THREAD alone! so there you go man... go copy and paste each of your threads into Microsoft word, make a book out of them, then CASH OUT!
 
#2,450 ·
This is Deutsche Bank writing the below.
The 17th largest bank in the world.
Notice they say “crypto” not just blockchain.
(My highlights)

“Deutsche sees the potential in cryptocurrencies taking off as a payment method given the advantages of speed, security, minimal cost and "relevance in the digital era".

The German bank therefore concludes that a new, mainstream cryptocurrency may emerge in the decade ahead.

With regulatory support, their appeal and adoption could increase and eventually replace cash, given the desire of governments and banks to move to a cashless society. “

https://www.finextra.com/newsarticl...cts-cryptocurrency-could-replace-fiat-by-2030
 
#2,453 ·
And while Prankster is trying to plug the leaks,
here are the first cracks in the government crypto adoption.
All dam bursts began as tiny leaks.

The Marshall Islands are issuing its own cryptocurrency:
https://www.coindesk.com/why-the-marshall-islands-is-issuing-its-own-cryptocurrency

“To date, countries that have issued their own cryptocurrencies include Ecuador, China, Senegal, Singapore, Tunisia, though these countries will not be standing alone for long with Estonia, Japan, Palestine, Russia and Sweden looking to launch their own national cryptocurrencies. Some of these countries are likely to take it a step further and replace paper tender altogether with China being one nation that is looking to take one step beyond a virtual and paper version.”
https://www.fxempire.com/education/...tries-issue-their-own-digital-currency-443966

I will love it when the Dutch offer their national crypto and call it the TULIP !!
 
#2,455 ·
Take a few minutes prankster and get enlightened:

https://www.forbes.com/sites/michae...r-prepared-him-to-be-crypto-dad/#5f763b9d4b4c


“I think of that as an example of the role I can do in helping people better understand blockchain and cryptocurrencies; breaking it down into terms that people can understand and then perhaps find comfort in it. Or if not, at least have a healthy debate without hyperbole and innuendo.”

Just what this thread could use!
 
#2,457 ·
you have fun with that.



fyi, the tulip analogy is usually the analogy spouted off by people who have no idea about bitcoin and have no ability to comprehend bitcoin, and just want to spread fear, uncertainty, and doubt. Its one of the first negative viewpoints discovered upon googling "bitcoin"....

so good job outing yourself, NOOB. lol
 
#2,460 ·
Get Ready for the IRS:

The IRS released a new form you’ll need to complete your 2019 tax return. They are asking whether you’ve acquired, exchanged or sold a financial interest in virtual currency.

Earlier this year, the IRS sent letters to some taxpayers who’ve made virtual currency transactions, telling them to pay back taxes and file amended returns.

Taxpayers are required to keep track of all of their transactions and their cost basis.

Failure to report could be considered fraud and there is no statute of limitations on IRS fraud.
 
#2,461 ·
Other than the crypto question across the top of the 1040 form,
those trading rules are no different from stocks and bonds.
Or real estate. Or Precious metals. Or derivatives trading.
Nothing to fear if you track your trades and pay any taxes due.
More anti crypto FUD.

Here you go, “crypto taxes for dummies”:
https://taxbit.com/

Or if complicated tax computations keep you up at night,
https://bitcoinira.com/
Walla...no need to track your trades...and tax free after age 59.5
Use the IRS rules. Don’t fear them.
 
#2,462 ·
Another great interview video...if you can get past the Australian journalist!
Tim Draper is a Stanford educated, billionaire who has invested in
winning companies for decades.

https://youtu.be/H6Xz4luFb2c

His crystal ball is crystal clear.
AI, technology, and crypto.
Invest in the Kodaks of the world if you must.
But as for I and my family, we chose the road less traveled.
“The Wright Brothers didn’t have pilot licenses”!
 
#2,464 ·
As we approach the end of another year,
it is again time to report results:
As of December 13

2019 YTD ROI
Real estate 2.7%
S&P500 22%
bitcoin 87%

5 year return (from Jan 1, 2015)
Real estate 35%
S&P500 63%
bitcoin 2,185%

Opinions can differ, but facts speak volumes.

And in difference to the “never crypto” guys who were claiming that most crypto investors lose money:
“Bitcoin holders are also having a great year. The top cryptocurrency is up by over 95% year-to-date. The numbers align. According to The Block, 61% of bitcoin holders are sitting in profits.”

https://www.ccn.com/holders-of-over-11-million-bitcoin-are-proving-that-hodl-is-not-just-a-meme/
 
#2,466 ·
Thanks LoveLife - I wish I was psychic. that would be a great super power to have. I think I'm just intuitive by nature! I do know for sure that blockchain technology is the future in so many ways!

As far as education is concerned, I think education on this topic is primarily going to have to be self taught for now. It MAY one day become a gigantic area of study implemented in most every academic institution.

There ARE some community colleges and state colleges that are starting to just now start this programs. One in my back yard actually just started one this year it appears!
 
#2,467 ·
As far as education is concerned, I think education on this topic is primarily going to have to be self taught for now!
Tons of info on the internet.
Unfortunately in our world there is very little unbiased info.
Everyone is shilling or dissing.

I started with crypto meetups.
Even if I had no interest in their coin.
I found everyone from devs and CEOs down to a homeless guy who showed up for the free hors d’oeuvres.
Seek and ye shall find.
https://www.meetup.com/

https://www.investopedia.com/cryptocurrency-strategy-and-education-4689762
 
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