Bitcoin Price in 2016 | Finance Reference

I calculated Ethereum's Stock-to-Flow value

I calculated Ethereum's Stock-to-Flow value
I just read two interesting posts from PlanB on:
And tried to calculate Ethereum's Stock-to-Flow value as well. It's a calculation to show the scarcity of an asset.
S2F (Stock-to-flow) = stock / flow
Stock is the size of the existing stockpiles or reserves. Flow is the yearly production.
As a reference here is a comparison from PlanB's post:
https://preview.redd.it/16qw2g2zsaz41.png?width=614&format=png&auto=webp&s=4c07cc3e218740dc1213aac1ec34fb6cccd4212e
Based on Ether's total supply and yearly issuance, I calculated the SF value from 2015 to 2021.

Year Total supply (end of the year) Yearly issuance S2F Note
2015 76140218 4054720 18.7 Data from Etherscan
2016 87462107 11321889 7.725045297 Data from Etherscan
2017 96692242 9230135 10.47571237 Data from Etherscan
2018 104124058 7431815 14.01058208 Data from Etherscan
2019 109094019 4969962 21.95067637 Data from Etherscan
2020 113000000 4000000 28.25 Data from Etherscan
2021 115000000 2000000 57.5 2 million if almost everyone stakes
2022 117000000 2000000 58.5 2 million if almost everyone stakes

Gold has the highest SF 62, which means it takes 62 years of production to get current gold stock, for Ether the estimated SF is 58.5 in 2022. After the recent halving, this is 50 for Bitcoin.

Important disclaimer:
Numbers are rough estimates, I got the data from etherscan and Cointelegraph (see them below) and aggregated in a spreadsheet. This calculation is far from perfect, I'm not a data analyst just a random dude killing the time on Sunday, so pls bear with me.
If you have any suggestions to further improve it or you have more exact numbers regarding supply, issuance, pls let me know and I will update the sheet.

Source:
https://cointelegraph.com/news/eth-20-issuance-will-be-2-million-a-year-at-most-says-vitalik
https://etherscan.io/charts#marketData
submitted by tamastorok to ethfinance [link] [comments]

Bitcoin Predictions Update: Bitcoin Halvening Coming Up, Let's Review 2020's Bitcoin Price Predictions so far ...

Wrong, wonderfully delusional bullshit predictions:
Special thanks to Fran Strajnar and Dumpie Lee for their delusional coin shilling idiotic predictions, and extra special thanks to Redditor u/diydude2 for going way, way, way beyond the call of duty and continuing to make the dumbest and most delusional bullshit coin shill predictions the world has ever seen.
Anyway, enough with those delusional coin shilling idiotic predictions. What does the near future hold ?
Here's the coming Bitcoin Price predictions for May-2020:
Got any others ??? Please let me know. 😀
Anyway grab your popcorn 🍿🍿🍿 guys and gals, because the forecast is for yet another spectacular crop of delusional predictions to be proven to be bullshit. 🤣🤣🤣
submitted by Crypto_To_The_Core to Buttcoin [link] [comments]

Bitcoin Market Weekly Report - Week of 06/07/2020

Bitcoin Market Weekly Report - Week of 06/07/2020

Coinviva BTC-USD Daily Chart
The volatility of Bitcoin movement remained low for the second week. Since the beginning of July, the Bitcoin price ranged between $8,918 and $9,298. The trend remained slightly bearish as the price failed to break above $10,000 last month, and the bars were hovering around the lower Keltner band. The current support is at $9,000.
If the volatility starts to pick up this week and breaks below the support, a short signal is confirmed amid the current bearish trend. The next support level is at $8,500.
Review of the week:
CoinGecko, the cryptocurrency analytics firm, in its recent quarterly report for Q2 2020, charted the price change for before and after the 2016 and the 2020 halvings. In July 2016, Bitcoin was trading between $400 – $950. While in the 50 days prior, it rose by 11 percent, in the 50 days after the halving, the price dropped by 9 percent. Coming back to 2020, in the 50 days prior to the halving, the price rose by 50 percent, and in the 50 days after, by 5 percent. Given the late halving surplus in 2016, the prevailing economic conditions of 2020, and the massive increase in the market capitalization of Bitcoin in the ensuing four years, it concluded that the present price is “more bullish” than expected: “Despite having a market capitalization 15 times larger in 2020 than in 2016, Bitcoin showed a more bullish price movement during the 3rd Halving event.”

https://preview.redd.it/pd26ci5en6951.png?width=912&format=png&auto=webp&s=0feabe20422b0aa13e8b8c6e80991ed63ddc5157
Disclaimer: The above market commentary is based on technical analysis using historical pricing data, and is for reference only. It does not serve as investment or trading advice.
About Coinviva:
Coinviva aims to create the best crypto financial services ecosystem for both institutional and individual investors. We provide reliable fiat funding options, excellent trading liquidity, bank security level custody and one-stop high liquidity provision on-site & off-site. Our founding management team all come from top tiered investment banking (e.g. JP Morgan, Morgan Stanley, Bank of America Merrill Lynch), with fully comprehensive financial institution operation experience.
Homepage: https://coinviva.com/
Telegram: https://t.me/coinviva
submitted by Coinviva to u/Coinviva [link] [comments]

Removed comments/submissions for /u/OverLeveraged14

Hi OverLeveraged14, you're not shadowbanned, but 97 of your most recent 105 comments/submissions were removed (either automatically or by human moderators).

Comments:

ft8ds4z in CryptoCurrency on 07 Jun 20 (1pts):
bitcoin relies 100% on confirmation bias. everyone yells ''its amazing'' because they're financially biased, but they dont actually believe it. they just hope someone will pump their bags. to me the...
frm76ad in Crypto_com on 24 May 20 (1pts):
simply put, they dont support canadian banking and canadian dollars. at least yet. might change when they add debit card for canada since i would assume that will be denominated in CAD but i could...
frkvb1u in CryptoCurrency on 23 May 20 (1pts):
eth has a 5x premium on greyscale, i just dont understand how anyone can accept that lol. https://i.imgur.com/eeXlo9H.png
frkloxd in Crypto_com on 23 May 20 (1pts):
keep calm and eat jellybeans.
frkiibm in CryptoCurrency on 23 May 20 (1pts):
bitcoin answer to this is ''but store of value bruhh''
frkfuy6 in Crypto_com on 23 May 20 (1pts):
you can use it to go 1.5x leverage. loan 5k, buy btc, btc goes up, sell 5k worth and keep the difference. free real estate bruh! just kidding, leverage is dangerous :)
frk8jee in CryptoCurrency on 23 May 20 (1pts):
Zcoin, its an establish coin that's been around for a while, has some interesting stuff happening this year but mainly just looking at the chart is enough for me to take the risk. bought a...
frk6eir in CryptoCurrency on 23 May 20 (1pts):
beware of POS coins in general. it doesnt matter if you make 100% if the coin goes down 90%, you still lose 80% of your money. its fine to prefer pos over pow if you dont care about the security as...
frk5z26 in CryptoCurrency on 23 May 20 (1pts):
im sure Kenyans love paying half their wealth in fees.
frk5mht in CryptoCurrency on 23 May 20 (1pts):
fwiw, there's a loser on each side of a trade.
frk5hn6 in CryptoCurrency on 23 May 20 (1pts):
here's a little tip, if a coin has a sub coin to pay fees, its garbage.
frk5cdn in CryptoCurrency on 23 May 20 (1pts):
haaa yes, the indicators that rewrite themselves to make it look like they called the shots
frk4pia in CryptoCurrency on 23 May 20 (1pts):
i like cryptowatch. has standard list but also has charts and a few other useful views like this. https://cryptowat.ch/cards/assets also has a bunch of other...
frk2zzv in CryptoCurrency on 23 May 20 (1pts):
i cant wait for 1000sat/byte as a standard when btc hits 100k$! its gon be great! i really dont care if 90% of my paycheck vanishes in a transaction fee cause ill hodl till i die! i already threw...
frjwzk9 in CryptoCurrency on 23 May 20 (1pts):
well, at least he's not shilling a scam this time i guess?
frjvori in CryptoCurrency on 23 May 20 (1pts):
people didnt expect that kind of bull run in 2016, at least no that i remember. there was some hype early on in 2017, specially because of ETH, i still cant tel wheter or not btc rode on eth's...
frjt8r7 in CryptoCurrency on 23 May 20 (1pts):
eth by far. bitcoin is racing towards a dead end and everyone knows it but choose to ignore it and scream moon all day long. its sad but true bitcoin cant sustain anymore growth and there's no plan...
frjr53k in technology on 23 May 20 (1pts):
how about let it fucking sink so it can be bought for a penny on the dollar? only thing this system is doing is promoting irresponsible business management because ''why take precautions or innovate...
frjq6q8 in technology on 23 May 20 (1pts):
the best way to make you gmail inbox safer is to use protonmail instead haha.
frjg2ez in CryptoCurrency on 23 May 20 (1pts):
i can attest to this. i did a piece that shows how 4mb block would HELP bitcoin adoption AND decentralization and was banned for promoting BCH, which i havent talked about once in all of my...
frjfwao in CryptoCurrency on 23 May 20 (1pts):
no, its means goldman needs a conference call to tel investors not to buy bitcoin.
frjfehq in CryptoCurrency on 23 May 20 (1pts):
proof of funds is the scummiest bullshit ever created. allows institutions to literally steal money from legitimate users who cant provide a proof. its easy for freshly earned money now that we know...
frjbtml in CryptoCurrency on 23 May 20 (1pts):
it doesnt really matter how much the fed prints, because it wont leave the fed without someone taking the loans, and nobody wants a loan right now. theses funds mainly exist in order to prevent the...
frgj543 in politics on 22 May 20 (1pts):
why? its not like he has issues routing a billion dollars of public funds over to Ukraine.
frggmty in CryptoCurrency on 22 May 20 (1pts):
''in a nutshell'' dont hang out in bitcoin or btc, bitcoin has gestapo mods and btc is salt all day long.
frfp692 in WhitePeopleTwitter on 22 May 20 (1pts):
just go gamble 100x till you make it, ez.
frfoe8c in LifeProTips on 22 May 20 (1pts):
Discord my friend, Discord.
free9l1 in CryptoCurrency on 22 May 20 (1pts):
hahaha, no.
fredual in CryptoCurrency on 22 May 20 (1pts):
dw bout it, everyone pays to learn in this space. some later than others. better take your loses early on rather than get your illusion of success shattered down the road.
frdpvm8 in CryptoCurrency on 21 May 20 (1pts):
all you had to do is claim you hex, for free. if you dont pay for something, how are you getting scammed? you have no clue who gave him that eth, for what purpose, and if they're okay with him...
frdo9tl in CryptoCurrency on 21 May 20 (1pts):
lets be honest, sending them to an exchange that has ''Fren with justin sun'' written all over it was not exactly his most genius moment.
frde4ag in CryptoCurrency on 21 May 20 (1pts):
folding is great but it honestly pisses me off at the same time. there is so much spare computing power owned by american companies and almost all of it is never put to use for folding, it should be...
frddkuy in CryptoCurrency on 21 May 20 (1pts):
''investing'' in crypto is honestly the wrong way to think about it. gambling is a much better term. at best you're all in on btc and you're hedging against fiat inflation, at worst you buy any...
frdcffn in CryptoCurrency on 21 May 20 (1pts):
that explains why you know nothing about it.
frdaz60 in CryptoCurrency on 21 May 20 (1pts):
doubtful. negative interest rates in a deflationary environment wont be a big deal. yall really seem to misunderstand how good the USD is at fucking you over. keep believing hyperinflation is gonna...
frdantd in CryptoCurrency on 21 May 20 (1pts):
you havent seen nothing yet my man. 2017 had fees up to 100$. its gonna happen again.
frcveyn in CryptoCurrency on 21 May 20 (1pts):
considering he thinks bitmex sells trader's fund on spot after they place a trade, its fair to say this guy doesnt know anything about anything.
frcn75e in CryptoCurrency on 21 May 20 (1pts):
this is the dumbest article ever made on crypto.
frcmmkz in CryptoCurrency on 21 May 20 (1pts):
you're an idiot.
frcgfqm in CryptoCurrency on 21 May 20 (1pts):
while i agree that bitcoin sucks as it is and needs a block size increase (4mb would be perfect for now and wouldnt change a damn thing about decentralization) bsv is garbage and bch too.
frcg7pc in CryptoCurrency on 21 May 20 (1pts):
those 3 pools are also made of thousands of individuals. its not the pools' hashrate. if they start messing with the network, that hashrate will leave fast as fuck.
frc3yb5 in CryptoCurrency on 21 May 20 (1pts):
yet only 5mil in liquidity. useless network.
frbyhp0 in CryptoCurrency on 21 May 20 (1pts):
btc blocks should be 4mb-8mb right now to keep in line with technological advancement since the 1mb block limit was implemented. prove me wrong. ill debate anyone. and before you ask, im a btc...
frbxj5j in CryptoCurrency on 21 May 20 (1pts):
opening the pandora's box for market manipulation is a bad thing for wallstreet. these's patterns are not exclusive to crypto, at all, and ''trapping'' and stop hunts has been done for decades. this...
fr8anz5 in CryptoCurrency on 20 May 20 (1pts):
honestly wouldnt be surprised. btc isnt going anywhere without scaling and ln is a cluster fuck for adoption.
fr64v2n in Bitcoin on 19 May 20 (1pts):
rofl.
fr64mko in Bitcoin on 19 May 20 (1pts):
this is software or 3rd parties trapping people into having to use those fees.
fr649wf in CryptoCurrency on 19 May 20 (1pts):
that company is a fucking leech regardless how you look at it. trying to make itself relevant by attacking others. they arent doing anyone but themselves a favor. you can hate on XRP just as much as...
fr62m0n in Bitcoin on 19 May 20 (1pts):
this is absolute garbage propaganda to assume that nodes would drop out rather than upgrade. im so fucking tired of people pretending like buying a 400$ computer to run a node is a problem but...
fr61jya in Bitcoin on 19 May 20 (1pts):
supply is 18million, not 900/day. there's plenty to buy from. also if you are talking about paul tudor jones, he didnt buy a single bitcoin and said so himself that he would only be playing futures...
fr60yqv in Bitcoin on 19 May 20 (1pts):
store of value is NOT a use case, and bitcoin is NOT widely adopted.
fr5yqcw in Bitcoin on 19 May 20 (1pts):
" not really looking for financial advice " maybe you should.
submitted by MarkdownShadowBot to CommentRemovalChecker [link] [comments]

Bitcoin ‘Hodl wave’ data has now been calling a bull run for five months

Hodl waves show that over 60% of the supply has not moved for a year or more, something which historically has signaled price upside.
Bitcoin (BTC) is more likely to be at the start of a new bull market than at any time since 2016, new data covering investors suggests.
Noted by Phillip Swift, creator of monitoring resource Look Into Bitcoin, the data shows that 60% of the Bitcoin supply has not moved from its wallet in over one year.

Analyst eyes “significant hodling”

The last time that such a large amount of the supply had remained stationary for that long was in 2016 — just before the start of the bull run, which sent BTC/USD to $20,000.
Looking at Swift’s accompanying chart, there is a strong relationship between the amount of supply lying dormant and subsequent upward price action.
Swift himself commented on Twitter:
60% of all bitcoin has not moved on the blockchain for at least 1 year. This is an indication of significant hodl'ing. The last time this happened was in early 2016, at the start of the bull run.

Hodler “insanity” continues?

The chart shows patterns of Bitcoin supply movement known as “hodl waves.” The 60% mark suggests that Bitcoin is at the most advantageous point in its current “wave” for long-term investors.
As Cointelegraph reported in March, similar data from Unchained Capital previously revealed that those who bought BTC during the 2018 crash to $3,100 are also holding onto their investment.
The roughly 60% figure meanwhile has in fact held for almost six months this cycle, with no significant change in behavior since December 2019. At the time, one popular Twitter commentator described their actions as “insane.”
submitted by PresentType to sfomorebitcoinmixerss [link] [comments]

TRUE historical data on yearly lows (correcting repetitive historical false information spread on reddit and twitter)

Recently, wrong historical data on the alleged Bitcoin yearly lows could be repetitively read in ill-researched or "blindly copy-pasted" posts and tweets, e.g. falsely claiming a yearly low for 2013 of $65, where $13 is the correct value (wrong by a factor of 5)!
Here is the correct data:
TRUE yearly lows (first historically recorded trade occurred at MtGox exchange on 17th July 2010; bitstamp exchange started operation on 13 Sep 2011*):
*not included: Bitcoin prices of around $0.003 on Bitcoin USD markets recorded since 25th April 2010, consistent with famous two Bitcoin pizzas from 22nd May 2010 worth $30 for 10,000 BTC.
Yearly absolute lows (just omitting obvious implausible data flaws) - not recommended because short outliers of very low trade volumes can bias the view of the real market situation:
Yearly lows of daily weighted averages - more useful because short outliers with very low volumes are not biasing the statistics:
  • 2010: $0.05 (MtGox, 17th & 24th & 25th & 26th July)
  • 2011: $0.29 (MtGox, 4th January)
  • 2011: $2.24 (bitstamp, 21st October)
  • 2012: $4.33 (bitstamp, 19th February)
  • 2013: $13.01 (bitstamp, 1st January)
  • 2014: $305.81 (bitstamp, 5th October)
  • 2015: $189.84 (bitstamp, 14th January)
  • 2016: $370.21 (bitstamp, 3rd February)
  • 2017: $783.46 (bitstamp, 12th January)
  • 2018: $3171.72 (bitstamp, 15th December)
  • 2019: $3365.06 (bitstamp, 7th February)
  • 2020: <= $7030.21 (bitstamp, 2nd January)
Change rates:
  • 2011: x 5.8 (+480%)
  • 2012: x 14.9 (+1390%)
  • 2013: x 3.0 (+200%)
  • 2014: x 23.5 (+2250%)
  • 2015: x 0.6 (-40%)
  • 2016: x 2.0 (+100%)
  • 2017: x 2.1 (+110%)
  • 2018: x 4.0 (+300%)
  • 2019: x 1.1 (+10%)
  • 2020: <= x 2.1 (<= +110%)
How to do this yourself:
Example for 2013:
https://bitcoincharts.com/charts/bitstampUSD#rg60zczsg2013-01-01zeg2013-12-31ztgSzm1g10zm2g25zv
Click on "Load raw data" below the chart, copy-paste to spreadsheet like Libre Calc or MS Excel or Google documents, apply "min" function on the column of daily lows or daily weighted averages.
For year 2013 on bitstamp, the yearly low was reached on 1st January 2013: - Daily absolute low = $12.77 - Daily weighted average = $13.01
submitted by Amichateur to Bitcoin [link] [comments]

Bitcoin 11 Years - Achievements, Lies, and Bullshit Claims So Far - Tooootally NOT a SCAM !!!!

That's right folks, it's that time again for the annual review of how Bitcoin is going: all of those claims, predictions, promises .... how many have turned out to be true, and how many are completely bogus ???
Please post / link this on Bitcoin (I am banned there for speaking the truth, so I cannot do it) ... because it'a way past time those poor clueless mushrooms were exposed to the truth.
Anyway, without further ado, I give you the Bitcoin's Achievements, Lies, and Bullshit Claims So Far ...
.
Bitcoin Achievements so far:
  1. It has spawned a cesspool of scams (2000+ shit coin scams, plus 100's of other scams, frauds, cons).
  2. Many 1,000's of hacks, thefts, losses.
  3. Illegal Use Cases: illegal drugs, illegal weapons, tax fraud, money laundering, sex trafficking, child pornography, hit men / murder-for-hire, ransomware, blackmail, extortion, and various other kinds of fraud and illicit activity.
  4. Legal Use Cases: Steam Games, Reddit, Expedia, Stripe, Starbucks, 1000's of merchants, cryptocurrency conferences, Ummm ????? The few merchants who "accept Bitcoin" immediately convert it into FIAT after the sale, or require you to sell your coins to BitPay or Coinbase for real money, and will then take that money. Some of the few who actually accept bitcoin haven't seen a customer who needed to pay with bitcoin for the last six months, and their cashiers no longer know how to handle that.
  5. Contributing significantly to Global Warming.
  6. Wastes vasts amounts of electricity on useless, do nothing work.
  7. Exponentially raises electricity prices when big miners move into regions where electricity was cheap.
  8. It’s the first "currency" that is not self-sustainable. It operates at a net loss, and requires continuous outside capital to replace the capital removed by miners to pay their costs. It’s literally a "black hole currency."
  9. It created a new way for people living too far from Vegas to gamble all their life savings away.
  10. Spawned "blockchain technology", a powerful technique that lets incompetent programmers who know almost nothing about databases, finance, programming, or blockchain scam millions out of gullible VC investors, banks, and governments.
  11. Increased China's foreign trade balance by a couple billion dollars per year.
  12. Helped the FBI and other law enforcement agents easily track down hundreds of drug traffickers and drug users.
  13. Wasted thousands if not millions of man-hours of government employees and legislators, in mostly fruitless attempts to understand, legitimize, and regulate the "phenomenon", and to investigate and prosecute its scams.
  14. Rekindled the hopes of anarcho-capitalists and libertarians for a global economic collapse, that would finally bring forth their Mad Max "utopia".
  15. Added another character to Unicode (no, no, not the "poo" 💩 character ... that was my first guess as well 🤣)
  16. Provides an easy way for malware and ransomware criminals to ply their trade and extort hospitals, schools, local councils, businesses, utilities, as well as the general population.
.
Correct Predictions:
  1. 2015-12: "1,000 dollar in 2015", u/Luka_Magnotta, aka time traveler from the future, 31-Aug-2013, https://www.reddit.com/Bitcoin/comments/1lfobc/i_am_a_timetraveler_from_the_future_here_to_beg/ (Technically, this prediction is WRONG because the highest price reached in 2015 was $495.56 according to CMC. Yes, Bitcoin reached $1,000 in 2013 and 2014, but that's NOT what the prediction says).
  2. 2017-12: "10,000 in 2017", u/Luka_Magnotta, aka time traveler from the future, 31-Aug-2013, https://www.reddit.com/Bitcoin/comments/1lfobc/i_am_a_timetraveler_from_the_future_here_to_beg/
  3. 2018-04: $10,000 (by April 2018), Mike Novogratz, link #1: https://www.bitcoinprice.com/predictions/, link #2: https://www.bloomberg.com/news/articles/2017-11-21/mike-novogratz-says-bitcoin-will-end-the-year-at-10-000
  4. 2018-12: $10,000 (by 2018), Tim Draper, link #1: https://www.bitcoinprice.com/predictions/, link #2: https://www.youtube.com/watch?v=3AW5s6QkRRY
  5. Any others ? (Please tell me).
.
Bitcoin Promises / Claims / Price Predictions that turned out to be lies and bullshit:
  1. ANONYMOUS
  2. CENSORSHIP RESISTANT
  3. FRICTIONLESS
  4. TRUSTLESS
  5. UNCENSORABLE
  6. UNTRACEABLE
  7. SAFE
  8. SECURE
  9. YOU CANNOT LOSE
  10. NOT A SCAM
  11. PERMISSIONLESS
  12. GUARANTEED PRIVACY
  13. CANNOT BE SEIZED
  14. CANNOT BE CONFISCATED
  15. Be your own bank
  16. Regulation-proof
  17. NO MIDDLEMEN
  18. DECENTRALIZED
  19. Instantaneous transactions
  20. Fast transactions
  21. Zero / No transaction fees
  22. Low transaction fees
  23. A store of value
  24. A deflationary digital asset
  25. "A deflationary digital asset that no single human being can destroy."
  26. "an asset that is equally as dual use as a car, water, or any other traditional element that has existed."
  27. "Digital gold"
  28. Easy to use
  29. Cannot be stolen
  30. Cannot be hacked
  31. Can be mined by anyone
  32. Can be mined by anyone, even with an old computer or laptop
  33. Cannot be centralized
  34. Will return power back to the people.
  35. Not a Ponzi scam
  36. Not a Pyramid scam
  37. Never pay tax again
  38. Your gains cannot be taxed
  39. A currency
  40. An amazing new class of asset
  41. An asset
  42. A means to economic freedom
  43. A store of value
  44. The best investment the word has ever seen
  45. A great investment
  46. Efficient
  47. Scalable
  48. Stable
  49. Resilient
  50. Reliable
  51. Low energy
  52. Low risk
  53. Redistribute wealth to everybody
  54. No more have's and have not's
  55. No more US and THEM
  56. No more disadvantaged people
  57. No more RICH and POOR
  58. No more poor people
  59. Uses amazing new technology
  60. Uses ingenious new technology
  61. Satishi Nakamoto invented ...
  62. Segwit will solve all of Bitcoin's woes
  63. Lightning Network will solve all of Bitcoin's woes
  64. Limited by scarcity
  65. Can only go up in value
  66. Price cannot crash
  67. Has intrinsic value
  68. Value will always be worth more than cost to mine
  69. Adoption by investors is increasing exponentially
  70. Adoption by investors is increasing
  71. Adoption by merchants is increasing exponentially
  72. Adoption by merchants is increasing
  73. You are secure if you keep your coins on an exchange
  74. You are secure if you keep your coins in a hardware wallet
  75. You are secure if you keep your coins in an air-gapped Linux PC
  76. Will change the world
  77. "the next phase in human evolution"
  78. "Blockchain is more encompassing than the internet"
  79. Blockchain can solve previously unsolvable problems.
  80. "The only regulation we need is the blockchain"
  81. "Bank the unbanked"
  82. "To abolish financial slavery and the state's toxic monopoly on money."
  83. "To have better tools in the fight against the state violence and taxation."
  84. "To stamp information on a blockchain forever so we can bypass state censorship, copyrights, patents(informational monopolies) etc."
  85. Will destroy / overthrow FIAT
  86. Will destroy / overthrow the world's governments
  87. Will destroy / overthrow the banking system
  88. Will destroy / overthrow the world economies
  89. Will free people from tyranny
  90. Will give people financial freedom
  91. Will bring world peace
  92. Never going below $19K again
  93. Never going below $18K again
  94. Never going below $17K again
  95. Never going below $16K again
  96. Never going below $15K again
  97. Never going below $14K again
  98. Never going below $13K again
  99. Never going below $12K again
  100. Never going below $11K again
  101. Never going below $10K again
  102. Never going below $9K again
  103. Never going below $8K again
  104. Never going below $7K again
  105. Never going below $6K again
  106. Never going below $5K again
  107. Never going below $4K again
  108. Is NOT a Scam
  109. Hashing Power secures the Bitcoin network
  110. Untraceable, private transactions
  111. Guaranteed privacy
  112. Not created out of thin air
  113. Not created out of thin air by unregulated, unbacked entities
  114. Totally NOT a scam
  115. Is not used primarily by crimonals, drug dealers, or money launderers.
  116. 100% secure
  117. 2010 will be the "Year of Crypto"
  118. 2011 will be the "Year of Crypto"
  119. 2012 will be the "Year of Crypto"
  120. 2013 will be the "Year of Crypto"
  121. 2014 will be the "Year of Crypto"
  122. 2015 will be the "Year of Crypto"
  123. 2016 will be the "Year of Crypto"
  124. 2017 will be the "Year of Crypto"
  125. 2018 will be the "Year of Crypto"
  126. 2019 will be the "Year of Crypto"
  127. 2010: MASS ADOPTION any day now"
  128. 2011: MASS ADOPTION aany day now"
  129. 2012: MASS ADOPTION aaany day now"
  130. 2013: MASS ADOPTION aaaany day now"
  131. 2014: MASS ADOPTION aaaaany day now"
  132. 2015: MASS ADOPTION aaaaaany day now"
  133. 2016: MASS ADOPTION aaaaaaany day now"
  134. 2017: MASS ADOPTION aaaaaaaany day now"
  135. 2018: MASS ADOPTION aaaaaaaaany day now"
  136. 2019: MASS ADOPTION aaaaaaaaany day now"
  137. "Financial Freedom, bro."
  138. no single entity, government or individual, can alter or reverse its transactions
  139. insurance against the tyranny of state
  140. Bitcoin has come to destroy all governments and bring about the libertarian utopia of my dreams.
  141. The major issues in Bicoin's network will be fixed. This is still early days, Bitcoin has only been around for 2+ years.
  142. The major issues in Bicoin's network will be fixed. This is still early days, Bitcoin has only been around for 5+ years.
  143. The major issues in Bicoin's network will be fixed. This is still early days, Bitcoin has only been around for 7+ years.
  144. The major issues in Bicoin's network will be fixed. This is still early days, Bitcoin has only been around for 9+ years.
  145. 1,000's of predictions of skyrocketing and/or never falling prices
  146. Escape the petty rivalries of warring powers and nation states by scattering control among the many. The Bitcoin Cash debacle proves that even the most cryptographically secure plans of mice and men often go awry. Ref: https://www.reddit.com/Buttcoin/comments/9zfhb6/like_theres_only_one_flaw_with_buttcoin_crash/ea8s11m
  147. People will NEVER be able to welch out of bets or deals again. Nov-2018, Ref: https://www.reddit.com/Buttcoin/comments/9zvpl2/the_guy_who_made_the_1000_bet_that_btc_wouldnt/
  148. "Everything will be better, faster, and cheaper.", Brock Pierce, EOS.io shill video.
  149. "Everything will be more connected.", Brock Pierce, EOS.io shill video.
  150. "Everything will be more trustworthy.", Brock Pierce, EOS.io shill video.
  151. "Everything will be more secure.", Brock Pierce, EOS.io shill video.
  152. "Everything that exists is no-longer going to exist in the way that it does today.", Brock Pierce, EOS.io shill video.
  153. "Everything in this world is about to get better.", Brock Pierce, EOS.io shill video.
  154. You are a slave to the bankers
  155. The bankers print money and then you pay for it
  156. Bitcoin is The Peoples Money
  157. Bitcoin will set you free
  158. Bitcoin will set you free from the slavery of the banks and the government Ref: https://www.reddit.com/Bitcoin/comments/cd2q94/bitcoin_shall_set_you_free/
  159. ~~Bitcoin is "striking fear into the hearts of bankers, precisely because Bitcoin eliminates the need for banks. ~~, Mark Yusko, billionaire investor and Founder of Morgan Creek Capital, https://www.bitcoinprice.com/predictions/
  160. "When transactions are verified on a Blockchain, banks become obsolete.", Mark Yusko, billionaire investor and Founder of Morgan Creek Capital, https://www.bitcoinprice.com/predictions/
  161. SnapshillBot quotes from delusional morons:
  162. "A bitcoin miner in every device and in every hand."
  163. "All the indicators are pointing to a huge year and bigger than anything we have seen before."
  164. "Bitcoin is communism and democracy working hand in hand."
  165. "Bitcoin is freedom, and we will soon be free."
  166. "Bitcoin isn't calculated risk, you're right. It's downright and painfully obvious that it will consume global finance."
  167. "Bitcoin most disruptive technology of last 500 years"
  168. "Bitcoin: So easy, your grandma can use it!"
  169. "Creating a 4th Branch of Government - Bitcoin"
  170. "Future generations will cry laughing reading all the negativity and insanity vomited by these permabears."
  171. "Future us will thank us."
  172. "Give Bitcoin two years"
  173. "HODLING is more like being a dutiful guardian of the most powerful economic force this planet has ever seen and getting to have a say about how that force is unleashed."
  174. "Cut out the middleman"
  175. "full control of your own assets"
  176. "reduction in wealth gap"
  177. "no inflation"
  178. "cannot print money out of thin air"
  179. "Why that matters? Because blockchain not only cheaper for them, it'll be cheaper for you and everyone as well."
  180. "If you are in this to get rich in Fiat then no. But if you are in this to protect your wealth once the current monetary system collapse then you are protected and you'll be the new rich."
  181. "Theres the 1% and then theres the 99%. You want to be with the rest thats fine. Being different and brave is far more rewarding. No matter your background or education."
  182. "NO COINERS will believe anything they are fed by fake news and paid media."
  183. "I know that feeling (like people looking at you as in seeing a celebrity and then asking things they don't believe until their impressed)."
  184. "I literally walk round everyday looking at other people wondering why they even bother to live if they don't have Bitcoin in their lives."
  185. "I think bitcoin may very well be the best form of money we’ve ever seen in the history of civilization."
  186. "I think Bitcoin will do for mankind what the sun did for life on earth."
  187. "I think the constant scams and illegal activities only show the viability of bitcoin."
  188. "I think we're sitting on the verge of exponential interest in the currency."
  189. "I'm not using hyperbole when I say Satoshi found the elusive key to World Peace."
  190. "If Jesus ever comes back you know he's gonna be using Bitcoin"
  191. "If this idea was implemented with The Blockchain™, it would be completely flawless! Flawless I tell you!"
  192. "If you're the minimum wage guy type, now is a great time to skip food and go full ramadan in order to buy bitcoin instead."
  193. "In a world slipping more and more into chaos and uncertainty, Bitcoin seems to me like the last solid rock defeating all the attacks."
  194. "In this moment, I am euphoric. Not because of any filthy statist's blessing, but because I am enlightened by own intelligence."
  195. "Is Bitcoin at this point, with all the potential that opens up, the most undervalued asset ever?"
  196. "It won't be long until bitcoin is an everyday household term."
  197. "It's the USD that is volatile. Bitcoin is the real neutral currency."
  198. "Just like the early Internet!"
  199. "Just like the Trojan Horse of old, Bitcoin will reveal its full power and nature"
  200. "Ladies if your man doesnt have some bitcoin then he cant handle anything and has no danger sex appeal. He isnt edgy"
  201. "let me be the first to say if you dont have bitcoin you are a pussy and cant really purchase anything worldwide. You have no global reach"
  202. "My conclusion is that I see this a a very good thing for bitcoin and for users"
  203. "No one would do such a thing; it'd be against their self interests."
  204. "Ooh lala, good job on bashing Bitcoin. How to disrespect a great innovation."
  205. "Realistically I think Bitcoin will replace the dollar in the next 10-15 years."
  206. "Seperation of money and state -> states become obsolete -> world peace."
  207. "Some striking similarities between Bitcoin and God"
  208. "THANK YOU. Better for this child to be strangled in its crib as a true weapon for crypto-anarchists than for it to be wielded by toxic individuals who distort the technology and surrender it to government and corporate powers."
  209. "The Blockchain is more encompassing than the internet and is the next phase in human evolution. To avoid its significance is complete ignorance."
  210. "The bull run should begin any day now."
  211. "The free market doesn't permit fraud and theft."
  212. "The free market will clear away the bad actors."
  213. "The only regulation we need is the blockchain."
  214. "We are not your slaves! We are free bodies who will swallow you and puke you out in disgust. Welcome to liberty land or as that genius called it: Bitcoin."
  215. "We do not need the bankers for Satoshi is our saviour!"
  216. "We have never seen something so perfect"
  217. "We must bring freedom and crypto to the masses, to the common man who does not know how to fight for himself."
  218. "We verified that against the blockchain."
  219. "we will see a Rennaisnce over the next few decades, all thanks to Bitcoin."
  220. "Well, since 2006, there has been a infinite% increase in price, so..."
  221. "What doesn't kill cryptocurrency makes it stronger."
  222. "When Bitcoin awake in normally people (real people) ... you will have this result : No War. No Tax. No QE. No Bank."
  223. "When I see news that the price of bitcoin has tanked (and thus the market, more or less) I actually, for-real, have the gut reaction "oh that’s cool, I’ll be buying cheap this week". I never knew I could be so rational."
  224. "Where is your sense of adventure? Bitcoin is the future. Set aside your fears and leave easier at the doorstep."
  225. "Yes Bitcoin will cause the greatest redistribution of wealth this planet has ever seen. FACT from the future."
  226. "You are the true Bitcoin pioneers and with your help we have imprinted Bitcoin in the Canadian conscience."
  227. "You ever try LSD? Perhaps it would help you break free from the box of state-formed thinking you have limited yourself..."
  228. "Your phone or refrigerator might be on the blockchain one day."
  229. The banks can print money whenever they way, out of thin air, so why can't crypto do the same ???
  230. Central Banks can print money whenever they way, out of thin air, without any consequences or accounting, so why can't crypto do the same ???
  231. It's impossible to hide illegal, unsavory material on the blockchain
  232. It's impossible to hide child pornography on the blockchain
  233. Fungible
  234. All Bitccoins are the same, 100% identical, one Bitcoin cannot be distinguished from any other Bitcoin.
  235. The price of Bitcoin can only go up.
  236. "Bubbles are mathematically impossible in this new paradigm. So are corrections and all else", John McAfee, 7 Dec 2017 @ 5:09 PM,https://mobile.twitter.com/officialmcafee/status/938938539282190337
  237. Scarcity
  238. The price of Bitcoin can only go up because of scarcity / 21 million coin limit. (Bitcoin is open source, anyone can create thir own copy, and there are more than 2,000+ Bitcoin copies / clones out there already).
  239. immune to government regulation
  240. "a world-changing technology"
  241. "a long-term store of value, like gold or silver"
  242. "To Complex to Be Audited."
  243. "Old Auditing rules do not apply to Blockchain."
  244. "Old Auditing rules do not apply to Cryptocurrency."
  245. "Why Bitcoin has Value: SCARCITY.", PlanB, Coin Shill, 22-Mar-2019, https://medium.com/@100trillionUSD/modeling-bitcoins-value-with-scarcity-91fa0fc03e25
  246. "Bitcoin is the first scarce digital object the world has ever seen, it is scarce like silver & gold, and can be sent over the internet, radio, satellite etc.", PlanB, Coin Shill, 22-Mar-2019, https://medium.com/@100trillionUSD/modeling-bitcoins-value-with-scarcity-91fa0fc03e25
  247. "Surely this digital scarcity has value.", PlanB, Coin Shill, 22-Mar-2019, https://medium.com/@100trillionUSD/modeling-bitcoins-value-with-scarcity-91fa0fc03e25
  248. Bitcoin now at $16,600.00. Those of you in the old school who believe this is a bubble simply have not understood the new mathematics of the Blockchain, or you did not cared enough to try. Bubbles are mathematically impossible in this new paradigm. So are corrections and all else", John McAfee, 7 Dec 2017 @ 5:09 PM,https://mobile.twitter.com/officialmcafee/status/938938539282190337
  249. "May 2018 will be the last time we ever see $bitcoin under $10,000", Charlie Shrem, bitcoin advocate and convicted felon, 11:31 AM 3-May-2018, https://twitter.com/CharlieShrem/status/992109375555858433
  250. "Last dip ever.", AngeloBTC, 14 Oct 2018, https://mobile.twitter.com/AngeloBTC/status/1051710824388030464/photo/1
  251. "Bitcoin May Have Just Experienced its Final Shakeout Before a Big Rally", Joseph Young, coin shill, October 15, 2018 22:30 CET, https://www.ccn.com/bitcoin-may-have-just-experienced-its-final-shakeout-before-a-big-rally/
  252. Bitcoin would be a buy if the price fell under $5,000., Mohamed El-Erian, chief economic advisor at Allianz, 29-Jun-2018, https://www.ccn.com/bitcoin-a-buy-below-5000-says-allianz-chief-economic-adviso
  253. 2013-11-27: ""What is a Citadel?" you might wonder. Well, by the time Bitcoin became worth 1,000 dollar [27-Nov-2013], services began to emerge for the "Bitcoin rich" to protect themselves as well as their wealth. It started with expensive safes, then began to include bodyguards, and today, "earlies" (our term for early adapters), as well as those rich whose wealth survived the "transition" live in isolated gated cities called Citadels, where most work is automated. Most such Citadels are born out of the fortification used to protect places where Bitcoin mining machines are located. The company known as ASICminer to you is known to me as a city where Mr. Friedman rules as a king.", u/Luka_Magnotta, aka time traveler from the future, 31-Aug-2013, https://www.reddit.com/Bitcoin/comments/1lfobc/i_am_a_timetraveler_from_the_future_here_to_beg/
  254. 2018-02: Bitcoin price to hit $27,000 by February 2018, Trace Mayer, host of the Bitcoin Knowledge Podcast, and self-proclaimed entrepreneur, investor, journalist, monetary scientist and ardent defender, Link #1: https://mobile.twitter.com/TraceMayestatus/917260836070154240/photo/1, Link #2: https://www.bitcoinprice.com/predictions/
  255. 2018-06: "Bitcoin will surpass $15,000 in June [2018]." John McAfee, May 25, 2018, https://bitcoinist.com/john-mcafee-says-bitcoin-will-surpass-15000-in-june/
  256. 2018-07: Bitcoin will be $28,000 by mid-2018, Ronnie Moas, Wall Street analyst and founder of Standpoint Research, http://helpfordream.com/2018/12/23/5-bitcoin-price-predictions-gone-wrong/.
  257. 2018-12: Bitcoin to reach a price of between 40,000 and 110,000 US dollars by the end of the 2017 bull run ... sometime before 2019, Masterluc, 26-May-2017, an anonymous "legendary" Bitcoin trader, Link #1: https://www.tradingview.com/chart/BTCUSD/YRZvdurN-The-target-of-current-bubble-lays-between-40k-and-110k/, Link #2: https://www.bitcoinprice.com/predictions/
  258. 2018-12: "There is no reason why we couldn’t see Bitcoin pushing $50,000 by December [2018]", Thomas Glucksmann, head of APAC business at Gatecoin, Link #1: https://www.bitcoinprice.com/predictions/
  259. 2018-12: Listen up you giggling cunts... who wants some?...you? you want some?...huh? Do ya? Here's the deal you fuckin Nerds - Butts are gonna be at 30 grand or more by next Christmas [2018] - If they aren't I will publicly administer an electronic dick sucking to every shill on this site and disappear forever - Until then, no more bans or shadow bans - Do we have a deal? If Butts are over 50 grand me and Lammy get to be mods. Deal? Your ole pal - "Skully" u/10GDeathBoner, 3-Feb-2018 https://www.reddit.com/Buttcoin/comments/7ut1ut/listen_up_you_giggling_cunts_who_wants_someyou/
  260. 2018-12: 1 bitcoin = 1 Lambo. Remind me on Christmas eve [2018] u/10GDeathBoner, 3-Feb-2018, https://www.reddit.com/Buttcoin/comments/7ut1ut/listen_up_you_giggling_cunts_who_wants_someyou/dtn2pna
  261. 2018-12: Been in BTC since 2014 and experienced many "deaths" of BTC... this too shall pass... $10k end of the year. [2018] u/Exxe2502, 30-Jun-2018 https://reddit.com/Bitcoin/comments/8uur27/_/e1ioi5b/?context=1
  262. 2018-12: "Yale Alumni prediction - 30 Grand by Christmas [2018] - and you my friend... you will be the one eating Mcafee's dick in 2020. :) -:", u/SirNakamoto, 15-Jun-2018, https://www.reddit.com/Buttcoin/comments/8r0tyh/fdic_agrees_to_cover_bitcoin_losses_in_event_of/e0nzxq7
  263. 2018-12: "Impossible For Bitcoin Not to Hit $10,000 by This Year (2018)", Mike Novogratz, a former Goldman Sachs Group Inc. partner, ex-hedge fund manager of the Fortress Investment Group and a longstanding advocate of cryptocurrency, 22-Sep-2018, https://www.newsbtc.com/2018/09/22/billionaire-novogratz-impossible-for-bitcoin-not-to-hit-10000-by-this-yea
  264. 2018-12: "[Bitcoin] between $13,800 and $14,800 [by end of 2018]", Fundstrat's Tom Lee, 13-Dec-2018, https://www.cnbc.com/2018/12/13/wall-streets-bitcoin-bull-tom-lee-we-are-tired-of-people-asking-us-about-target-prices.html
  265. 2018-12: "Bitcoin is going to be $15k-$20k by the end of the year (2018)", Didi Taihuttu, 1-Nov-2018, https://www.wsj.com/video/series/moving-upstream/the-bitcoin-gamble/85E3A4A7-C777-4827-9A3F-B387F2AB7654
  266. 2018-12: 2018 bitcoin price prediction reduced to $15,000 [was $25,000], Fundstrat's Tom Lee, 16-Nov-2018, https://www.cnbc.com/2018/11/16/wall-streets-crypto-bull-tom-lee-slashes-year-end-forecast-by-10000.html
  267. 2018-12: "I want to be clear, bitcoin is going to $25,000 by year end (2018)", Fundstrat's Tom Lee, 5-Jul-2018, https://www.cnbc.com/video/2018/07/05/tom-lee-i-want-to-be-clear-bitcoin-is-going-to-25000-by-year-end.html
  268. 2018-12: "Bitcoin could be at $40,000 by the end of 2018, it really easily could", Mike Novogratz, a former Goldman Sachs Group Inc. partner, ex-hedge fund manager of the Fortress Investment Group and a longstanding advocate of cryptocurrency, 21-Sep-2018, https://www.youtube.com/watch?v=6lC1anDg2KU
  269. 2018-12: "Bitcoin will be priced around $50,000 by the end of the year (2018)", Bitcoin bull Arthur Hayes, co-founder and CEO of BitMEX, 29-Jun-2018, https://www.cnbc.com/2018/06/29/bitcoin-will-reach-50000-in-2018-says-founder-of-bitcoin-exchange.html
  270. 2018-12: "Bitcoin could definitely see $50,000 in 2018", Jeet Singh, cryptocurrency portfolio manager, speaking in January 2018 at the World Economic Forum in Davos, https://www.dcforecasts.com/new-prediction-says-bitcoin-hit-50000-2018/
  271. 2018-12: "Bitcoin will hit $100,000 this year (2018)", Kay Van-Petersen, an analyst at Saxo Bank, 17-Jan-2018, https://www.cnbc.com/2018/01/16/bitcoin-headed-to-100000-in-2018-analyst-who-forecast-2017-price-move.html
  272. 2018-12: "Bitcoin price to surpass the $100,000 mark by the end of 2018", Tone Vays, 21-Sep-2017, https://www.ccn.com/prominent-bitcoin-trader-price-is-heading-towards-100000-in-2018/
  273. 2018-12: "Bitcoin’s Price Will Surpass the $100,000 Mark by the End of 2018", Anonymous ("author" obviously too embarrassed to put his name to such bullshit "articles"), Oct-2018, https://investingpr.com/bitcoin-price-predictions-for-2018/
  274. 2018-12: "Our [2018] year-end bitcoin target is $7700.", James Stefurak, Founder at Monarch Research. See article: "Experts Forecast Bitcoin will rise by 2019", REF: https://hackernoon.com/experts-forecast-bitcoin-will-rise-by-2019-f4af8807036b?gi=dfea3c30d6d8
  275. 2018-12: "... we’ll see the price rally reaching its all-time of high of around $20K before the end of 2018", Khaled Khorshid, Co-Founder at Treon ICO. See article: "Experts Forecast Bitcoin will rise by 2019", REF: https://hackernoon.com/experts-forecast-bitcoin-will-rise-by-2019-f4af8807036b?gi=dfea3c30d6d8
  276. 2018-12: Bitcoin will end 2018 at the price point of $50,000, Ran Neuner, host of CNBC’s show Cryptotrader and the 28th most influential Blockchain insider according to Richtopia,https://www.bitcoinprice.com/predictions/
  277. Plus a whole host of wrong 2019 predictions (could not be included here because of post character limit issues), so please see my earlier post from 4 days ago: Ummm, remember those "Expert" Bitcoin Price Predictions for 2019 ..... ohhhhh dear ....., https://www.reddit.com/Buttcoin/comments/eiqhq3/ummm_remember_those_expert_bitcoin_price/
.
But it's NOT all bad news, some claims and promises are yet to be determined:
  1. Never going below $3K again
  2. Never going below $2K again
  3. Never going below $1K again
  4. Any others ? Please let me know.
submitted by Crypto_To_The_Core to Buttcoin [link] [comments]

If you hodl or trade, you`re the biggest problem with the world of cryptocurrencies.

There`s 3 components to a market economy: Spending, Savings & Investments. We only have 2 and those are way off balance.
Spending: Payments. Drives Inclusion & Adoption. Represents the primary bridge to real world assets.
Saving: Store of Value, Essential driver for stability. The ideea that your holdings are safe over time and don`t depreciate.
Investments: Trading, drives value of the economy, corrects inflation.
State of the nation:
IF there`s any chance at adoption, don`t just HODL. Don`t just DayTrade. Spend what you have. Money needs to move.
The moment you start spending a portion of cryptocurrencies, that money moves. The entire supply chain benefits. Miners Mine, Exchangers Exchange, Businesses get paid, Taxes get taxed. The underlying value of your holdings grows as you tell more people how you paid your AliBaba supplier in Bitcoin and didn`t have any trouble with your EU based bank making a fuss over "why you`re sending money to Asia".
If the only thing you do with Crypto is to buy it, hold it or trade it, it has no impact on real life. It`s not inviting more people to use it. Demand doesn`t grow. the value chain remains closed and non-inclusive. And it`s against the basic principles of Blockchain. You, the person who only has 10 USD in Dogecoin or the Hodler who has 8 bitcoins since Satoshi was in diapers, you`re responsible for the value of your assets and growth of your community. If you don`t SPEND it, people around you have NO reason to adopt. And if they do adopt, they do it for the wrong reasons and simply add to the volatility.
Introduction:
I`ve been in this space since 2009, reading all I could get my hands on. Coming from a poorly banked background and still having frustrations due to the inability of making online purchases at the time, just coming out of a recession, Bitcoin`s vision struck a nerve with me. I`ve been an avid believer in blockchain ever since and at no point did I buy crypto to store value, hedge my bets, invest, digital gold or any of this. I went in because it was, and still is: the easiest way to send money across the world. Ethereum`s smart contracts bring this simple function to a new level, introducing conditions to be met for the transfer itself. Simple, open, transparent, inclusive. Period.
What we`ve become, as a community:
As a whole, this community went from a group of passionate people who wanted an alternative to banks, government and politics, people who wanted to deal directly with other people, to something weird I can`t describe as a whole, but more as personas. Here`s what I`m seeing:
  1. The "I wanna buy Pizza with Bitcoin" crowd. I`m one of them. We just wanted a simple alternative, we were okay with volatility because we always knew the more people use it, more stable it gets as an alternative currency. Conspiracy theorists, tech geeks, scientists, curious people fascinated by the endless possibilities of a global, open banking system, built by the people, for the people. Joined from the first 3-4 years of Bitcoin, many still join it.
  2. The Hodlers: Also coined as the true "Believers". They`re responsible for the initial traction, and would rather liquidate their house than to "sell off" their Bitcoins. They see Bitcoin and other currencies as a "store of value" and see not much difference between buying/storing Gold and Crypto. Joined after the first group and peacefully co-existed with everybody so far. Most dedicated miners came from this group/generation of adopters.
  3. The Traders: People coming from the finance world. They either did Hedgefunds, Forex, VC. Smart opportunists that saw the first 2 groups, saw the potential value of the system as something to be gained from (nothing wrong with this) and heavily capitalize on it. These were the first guys to look at crypto as financial instruments and started fighting the compliance game. This is also where market manipulation started.
  4. The "Tokenize the world" generation. Driven by technology on one side, by the ICO madness on the other side, this opportunistic group wanted to create a token (and respective ICOs) for everything they could think of. Huge similarities between how everything needed a website in the 2000`s, everything needed an app in 2010, everything needed a coin/token started around 2016. Dogecoin is the perfect example of a joke that got way out of proportion, while the original ideea was to make fun of this particular group. Oh well, this group still garners a lot of traction/interest. This group is why we have 3000 shitcoins and who knows how many that never saw the light of day.
  5. The Consultants, Gurus, Ninjas. The "know it all`s". They`re all about the TREND, not about the substance. In the 90`s we had the "internet consultants" who were selling strategies for people to get online. Later the same people were selling strategies to get website traffic. Later, it was about the apps or about the cloud. Right now, it`s about blockchain, token economics, go to market, liquidity, or investing. Some are super smart, most are useless. The only thing that really bothers me is that consultants take no ownership in the success or failure of what they`re selling. As long as you cover their fees, they don`t care if their advice works or not and usually blame you for failing. These are the "market makers" of today, the youtube/facebook/twitteinstagram investment gurus who look at charts for 4 hours and make predictions without really having any skin in the game. Here`s what I never got my head around, if you know how to make a market for a coin, or really know how to invest in crypto.... WHY would you charge me 20k when you can make millions for yourself in less time than that? I guess it holds true: those that can, DO, those that can`t, Teach.
This brings us to the state of the market today.
Proposed solution:
Don`t wait for your government to regulate, don`t wait for banks or institutional investors to kick in, don`t wait for the media frenzy. Just do your part: spend, save and invest your crypto just as you would your USD/Euro/Yen/etc. If you`re a freelancer, accept crypto payments. if you run a business, accept crypto payments. If you have crypto, make crypto payments. This is the main reason we have crypto today and it`s exactly what we don`t use it for. Go back to basics and let`s see how influenced by "market volatility" or "market manipulation" or "media bias" the price will get.
Disclosure: Yes, trying to solve the adoption issue has led me to build a platform for e-commerce that also solves crypto-to-fiat payments for more than 2000 tokens. We walk the walk, not talk the talk.
I`d love to hear if you guys agree or disagree, and most importantly, Why?
C:\>
P.S. I love you
submitted by chrisorasanusdk to Bitcoin [link] [comments]

If you just hodl or trade, you`re the biggest problem with the world of cryptocurrencies.

TL;DR: There`s 3 components to a market economy: Spending, Savings & Investments. We only have 2 and those are way off balance.
Spending: Payments. Drives Inclusion & Adoption. Represents the primary bridge to real world assets.
Saving: Store of Value, Essential driver for stability. The ideea that your holdings are safe over time and don`t depreciate.
Investments: Trading, drives value of the economy, corrects inflation.
State of the nation:
IF there`s any chance at adoption, don`t just HODL. Don`t just DayTrade. Spend what you have. Money needs to move.
The moment you start spending a portion of cryptocurrencies, that money moves. The entire supply chain benefits. Miners Mine, Exchangers Exchange, Businesses get paid, Taxes get taxed. The underlying value of your holdings grows as you tell more people how you paid your AliBaba supplier in Bitcoin and didn`t have any trouble with your EU based bank making a fuss over "why you`re sending money to Asia".
If the only thing you do with Crypto is to buy it, hold it or trade it, it has no impact on real life. It`s not inviting more people to use it. Demand doesn`t grow. the value chain remains closed and non-inclusive. And it`s against the basic principles of Blockchain. You, the person who only has 10 USD in Dogecoin or the Hodler who has 8 bitcoins since Satoshi was in diapers, you`re responsible for the value of your assets and growth of your community. If you don`t SPEND it, people around you have NO reason to adopt. And if they do adopt, they do it for the wrong reasons and simply add to the volatility.
Introduction:
I`ve been in this space since 2009, reading all I could get my hands on. Coming from a poorly banked background and still having frustrations due to the inability of making online purchases at the time, just coming out of a recession, Bitcoin`s vision struck a nerve with me. I`ve been an avid believer in blockchain ever since and at no point did I buy crypto to store value, hedge my bets, invest, digital gold or any of this. I went in because it was, and still is: the easiest way to send money across the world. Ethereum`s smart contracts bring this simple function to a new level, introducing conditions to be met for the transfer itself. Simple, open, transparent, inclusive. Period.
What we`ve become, as a community:
As a whole, this community went from a group of passionate people who wanted an alternative to banks, government and politics, people who wanted to deal directly with other people, to something weird I can`t describe as a whole, but more as personas. Here`s what I`m seeing:
  1. The "I wanna buy Pizza with Bitcoin" crowd. I`m one of them. We just wanted a simple alternative, we were okay with volatility because we always knew the more people use it, more stable it gets as an alternative currency. Conspiracy theorists, tech geeks, scientists, curious people fascinated by the endless possibilities of a global, open banking system, built by the people, for the people. Joined from the first 3-4 years of Bitcoin, many still join it.
  2. The Hodlers: Also coined as the true "Believers". They`re responsible for the initial traction, and would rather liquidate their house than to "sell off" their Bitcoins. They see Bitcoin and other currencies as a "store of value" and see not much difference between buying/storing Gold and Crypto. Joined after the first group and peacefully co-existed with everybody so far. Most dedicated miners came from this group/generation of adopters.
  3. The Traders: People coming from the finance world. They either did Hedgefunds, Forex, VC. Smart opportunists that saw the first 2 groups, saw the potential value of the system as something to be gained from (nothing wrong with this) and heavily capitalize on it. These were the first guys to look at crypto as financial instruments and started fighting the compliance game. This is also where market manipulation started.
  4. The "Tokenize the world" generation. Driven by technology on one side, by the ICO madness on the other side, this opportunistic group wanted to create a token (and respective ICOs) for everything they could think of. Huge similarities between how everything needed a website in the 2000`s, everything needed an app in 2010, everything needed a coin/token started around 2016. Dogecoin is the perfect example of a joke that got way out of proportion, while the original ideea was to make fun of this particular group. Oh well, this group still garners a lot of traction/interest. This group is why we have 3000 secondary coins and who knows how many that never saw the light of day.
  5. The Consultants, Gurus, Ninjas. The "know it all`s". They`re all about the TREND, not about the substance. In the 90`s we had the "internet consultants" who were selling strategies for people to get online. Later the same people were selling strategies to get website traffic. Later, it was about the apps or about the cloud. Right now, it`s about blockchain, token economics, go to market, liquidity, or investing. Some are super smart, most are useless. The only thing that really bothers me is that consultants take no ownership in the success or failure of what they`re selling. As long as you cover their fees, they don`t care if their advice works or not and usually blame you for failing. These are the "market makers" of today, the youtube/facebook/twitteinstagram investment gurus who look at charts for 4 hours and make predictions without really having any skin in the game. Here`s what I never got my head around, if you know how to make a market for a coin, or really know how to invest in crypto.... WHY would you charge me 20k when you can make millions for yourself in less time than that? I guess it holds true: those that can, DO, those that can`t, Teach.
This brings us to the state of the market today.
Proposed solution:
Don`t wait for your government to regulate, don`t wait for banks or institutional investors to kick in, don`t wait for the media frenzy. Just do your part: spend, save and invest your crypto just as you would your USD/Euro/Yen/etc. If you`re a freelancer, accept crypto payments. if you run a business, accept crypto payments. If you have crypto, make crypto payments. This is the main reason we have crypto today and it`s exactly what we don`t use it for. Go back to basics and let`s see how influenced by "market volatility" or "market manipulation" or "media bias" the price will get.
Disclosure: Yes, trying to solve the adoption issue has led me to build a platform for e-commerce that also solves crypto-to-fiat payments for more than 2000 tokens. We walk the walk, not talk the talk.
I`d love to hear if you guys agree or disagree, and most importantly, Why?
C:\>
P.S. I love you
submitted by chrisorasanusdk to ethtrader [link] [comments]

/r/Bitcoin FAQ - Newcomers please read

Welcome to the /Bitcoin Sticky FAQ

You've probably been hearing a lot about Bitcoin recently and are wondering what's the big deal? Most of your questions should be answered by the resources below but if you have additional questions feel free to ask them in the comments.
The following videos are a good starting point for understanding how bitcoin works and a little about its long term potential:
For some more great introductory videos check out Andreas Antonopoulos's YouTube playlists, he is probably the best bitcoin educator out there today. Also have to give mention to James D'Angelo's Bitcoin 101 Blackboard series. Lots of additional video resources can be found at the videos wiki page or /BitcoinTV.
Key properties of bitcoin
Some excellent writing on Bitcoin's value proposition and future can be found here. Bitcoin statistics can be found here, here and here. Developer resources can be found here and here. Peer-reviewed research papers can be found here. The number of times Bitcoin was declared dead by the media can be found here. Scaling resources here, and of course the whitepaper that started it all.

Where can I buy bitcoins?

BuyBitcoinWorldwide.com and Howtobuybitcoin.io are helpful sites for beginners. You can buy or sell any amount of bitcoin and there are several easy methods to purchase bitcoin with cash, credit card or bank transfer. Some of the more popular resources are below, also, check out the bitcoinity exchange resources for a larger list of options for purchases.
Bank Transfer Credit / Debit card Cash
Coinbase Coinbase LocalBitcoins
Gemini Bitstamp LibertyX
GDAX Bitit Mycelium LocalTrader
Bitstamp Cex.io BitQuick
Kraken CoinMama WallofCoins
Xapo BitcoinOTC
Cex.io
itBit
Bitit
Bitsquare
Here is a listing of local ATMs. If you would like your paycheck automatically converted to bitcoin use Cashila or Bitwage.
Note: Bitcoins are valued at whatever market price people are willing to pay for them in balancing act of supply vs demand. Unlike traditional markets, bitcoin markets operate 24 hours per day, 365 days per year. Preev is a useful site that that shows how much various denominations of bitcoin are worth in different currencies. Alternatively you can just Google "1 bitcoin in (your local currency)".

Securing your bitcoins

With bitcoin you can "Be your own bank" and personally secure your bitcoins OR you can use third party companies aka "Bitcoin banks" which will hold the bitcoins for you.
Android iOs Desktop
Mycelium BreadWallet Electrum
CoPay AirBitz Armory
Another interesting use case for physical storage/transfer is the Opendime. Opendime is a small USB stick that allows you to spend Bitcoin by physically passing it along so it's anonymous and tangible like cash.
Note: For increased security, use Two Factor Authentication (2FA) everywhere it is offered, including email!
2FA requires a second confirmation code to access your account, usually from a text message or app, making it much harder for thieves to gain access. Google Authenticator and Authy are the two most popular 2FA services, download links are below. Make sure you create backups of your 2FA codes.
Google Auth Authy
Android Android
iOS iOS

Where can I spend bitcoins?

A more comprehensive list can be found at the Trade FAQ but some more commons ones are below.
Store Product
Gyft Gift cards for hundreds of retailers including Amazon, Target, Walmart, Starbucks, Whole Foods, CVS, Lowes, Home Depot, iTunes, Best Buy, Sears, Kohls, eBay, GameStop, etc.
Steam, HumbleBundle, Games Planet, itch.io, g2g and kinguin For when you need to get your game on
Microsoft Xbox games, phone apps and software
Spendabit, The Bitcoin Shop, Overstock, DuoSearch, The Bitcoin Directory and BazaarBay Retail shopping with millions of results
ShakePay Generate one time use Visa cards in seconds
NewEgg and Dell For all your electronics needs
Cashila, Bitwa.la, Coinbills, Piixpay, Bitbill.eu, Bylls, Coins.ph, Bitrefill, Pey.de, LivingRoomofSatoshi, Hyphen.to, Coinsfer, GetPaidinBitcoin, Coins.co.th, More #1, #2 Bill payment
Foodler, Menufy, Takeaway, Thuisbezorgd NL, Pizza For Coins Takeout delivered to your door!
Expedia, Cheapair, Lot, Destinia, BTCTrip, Abitsky, SkyTours, Fluege the Travel category on Gyft and 9flats For when you need to get away
BoltVM, BitHost VPS service
Cryptostorm, Mullvad, and PIA VPN services
Namecheap, Porkbun For new domain name registration
Stampnik and GetUSPS Discounted USPS Priority, Express, First-Class mail postage
Reddit Gold Premium membership which can be gifted to others
Coinmap, 99Bitcoins and AirBitz are helpful to find local businesses accepting bitcoins. A good resource for UK residents is at wheretospendbitcoins.co.uk.
There are also lots of charities which accept bitcoin donations, such as Wikipedia, Red Cross, Amnesty International, United Way, ACLU and the EFF. You can find a longer list here.

Merchant Resources

There are several benefits to accepting bitcoin as a payment option if you are a merchant;
If you are interested in accepting bitcoin as a payment method, there are several options available;

Can I mine bitcoin?

Mining bitcoins can be a fun learning experience, but be aware that you will most likely operate at a loss. Newcomers are often advised to stay away from mining unless they are only interested in it as a hobby similar to folding at home. If you want to learn more about mining you can read more here. Still have mining questions? The crew at /BitcoinMining would be happy to help you out.
If you want to contribute to the bitcoin network by hosting the blockchain and propagating transactions you can run a full node using this setup guide. Bitseed is an easy option for getting set up. You can view the global node distribution here.

Earning bitcoins

Just like any other form of money, you can also earn bitcoins by being paid to do a job.
Site Description
WorkingForBitcoins, Bitwage, XBTfreelancer, Cryptogrind, Bitlancerr, Coinality, Bitgigs, /Jobs4Bitcoins, Rein Project Freelancing
OpenBazaar, Purse.io, Bitify, /Bitmarket, 21 Market Marketplaces
Watchmybit, Streamium.io, OTika.tv, XOtika.tv NSFW, /GirlsGoneBitcoin NSFW Video Streaming
Bitasker, BitforTip, WillPayCoin Tasks
Supload.com, SatoshiBox, JoyStream, File Army File/Image Sharing
CoinAd, A-ads, Coinzilla.io Advertising
You can also earn bitcoins by participating as a market maker on JoinMarket by allowing users to perform CoinJoin transactions with your bitcoins for a small fee (requires you to already have some bitcoins)

Bitcoin Projects

The following is a short list of ongoing projects that might be worth taking a look at if you are interested in current development in the bitcoin space.
Project Description
Lightning Network, Amiko Pay, and Strawpay Payment channels for network scaling
Blockstream and Drivechain Sidechains
21, Inc. Open source library for the machine payable web
ShapeShift.io Trade between bitcoins and altcoins easily
Open Transactions, Counterparty, Omni, Open Assets, Symbiont and Chain Financial asset platforms
Hivemind and Augur Prediction markets
Mirror Smart contracts
Mediachain Decentralized media library
Tierion and Factom Records & Titles on the blockchain
BitMarkets, DropZone, Beaver and Open Bazaar Decentralized markets
Samourai and Dark Wallet - abandoned Privacy-enhancing wallets
JoinMarket CoinJoin implementation (Increase privacy and/or Earn interest on bitcoin holdings)
Coinffeine and Bitsquare Decentralized bitcoin exchanges
Keybase and Bitrated Identity & Reputation management
Bitmesh and Telehash Mesh networking
JoyStream BitTorrent client with paid seeding
MORPHiS Decentralized, encrypted internet
Storj and Sia Decentralized file storage
Streamium and Faradam Pay in real time for on-demand services
Abra Global P2P money transmitter network
bitSIM PIN secure hardware token between SIM & Phone
Identifi Decentralized address book w/ ratings system
Coinometrics Institutional-level Bitcoin Data & Research
Blocktrail and BitGo Multisig bitcoin API
Bitcore Open source Bitcoin javascript library
Insight Open source blockchain API
Leet Kill your friends and take their money ;)

Bitcoin Units

One Bitcoin is quite large (hundreds of £/$/€) so people often deal in smaller units. The most common subunits are listed below:
Unit Symbol Value Info
millibitcoin mBTC 1,000 per bitcoin SI unit for milli i.e. millilitre (mL) or millimetre (mm)
microbitcoin μBTC 1,000,000 per bitcoin SI unit for micro i.e microlitre (μL) or micrometre (μm)
bit bit 1,000,000 per bitcoin Colloquial "slang" term for microbitcoin
satoshi sat 100,000,000 per bitcoin Smallest unit in bitcoin, named after the inventor
For example, assuming an arbitrary exchange rate of $500 for one Bitcoin, a $10 meal would equal:
For more information check out the Bitcoin units wiki.
Still have questions? Feel free to ask in the comments below or stick around for our weekly Mentor Monday thread. If you decide to post a question in /Bitcoin, please use the search bar to see if it has been answered before, and remember to follow the community rules outlined on the sidebar to receive a better response. The mods are busy helping manage our community so please do not message them unless you notice problems with the functionality of the subreddit. A complete list of bitcoin related subreddits can be found here
Note: This is a community created FAQ. If you notice anything missing from the FAQ or that requires clarification you can edit it here and it will be included in the next revision pending approval.
Welcome to the Bitcoin community and the new decentralized economy!
submitted by BinaryResult to Bitcoin [link] [comments]

Looking back 18 months.

I was going through old emails today and came across this one I sent out to family on January 4, 2018. It was a reflection on the 2017 crypto bull market and where I saw it heading, as well as some general advice on crypto, investment, and being safe about how you handle yourself in cryptoland.
I feel that we are on the cusp of a new bull market right now, so I thought that I would put this out for at least a few people to see *before* the next bull run, not after. While the details have changed, I don't see a thing in this email that I fundamentally wouldn't say again, although I'd also probably insist that people get a Yubikey and use that for all 2FA where it is supported.
Happy reading, and sorry for some of the formatting weirdness -- I cleaned it up pretty well from the original email formatting, but I love lists and indents and Reddit has limitations... :-/
Also, don't laught at my token picks from January 2018! It was a long time ago and (luckliy) I took my own advice about moving a bunch into USD shortly after I sent this. I didn't hit the top, and I came back in too early in the summer of 2018, but I got lucky in many respects.
----------------------------------------------------------------------- Jan-4, 2018
Hey all!
I woke up this morning to ETH at a solid $1000 and decided to put some thoughts together on what I think crypto has done and what I think it will do. *******, if you could share this to your kids I’d appreciate it -- I don’t have e-mail addresses, and it’s a bit unwieldy for FB Messenger… Hopefully they’ll at least find it thought-provoking. If not, they can use it as further evidence that I’m a nutjob. 😉
Some history before I head into the future.
I first mined some BTC in 2011 or 2012 (Can’t remember exactly, but it was around the Christmas holidays when I started because I had time off from work to get it set up and running.) I kept it up through the start of summer in 2012, but stopped because it made my PC run hot and as it was no longer winter, ********** didn’t appreciate the sound of the fans blowing that hot air into the room any more. I’ve always said that the first BTC I mined was at $1, but looking back at it now, that’s not true – It was around $2. Here’s a link to BTC price history.
In the summer of 2013 I got a new PC and moved my programs and files over before scrapping the old one. I hadn’t touched my BTC mining folder for a year then, and I didn’t even think about salvaging those wallet files. They are now gone forever, including the 9-10BTC that were in them. While I can intellectually justify the loss, it was sloppy and underlines a key thing about cryptocurrency that I believe will limit its widespread adoption by the general public until it is addressed and solved: In cryptoland, you are your own bank, and if you lose your password or account number, there is no person or organization that can help you reset it so that you can get access back. Your money is gone forever.
On April 12, 2014 I bought my first BTC through Coinbase. BTC had spiked to $1000 and been in the news, at least in Japan. This made me remember my old wallet and freak out for a couple of months trying to find it and reclaim the coins. I then FOMO’d (Fear Of Missing Out”) and bought $100 worth of BTC. I was actually very lucky in my timing and bought at around $430. Even