Hey, I'm just bumping the thread because I'm interested in this ongoing conversation.
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bitcoins
- Thread starter enki
- Start date
Hey, I'm just bumping the thread because I'm interested in this ongoing conversation.
SM610
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Thats fine, i just was curious about what i heard someone say on the financial news the other day. My intent is not to stir shit about bitcoin.
Entoptic
Red Power!
This round of btc going up is because of arbitration between exchanges. It’s something like 6% gains round trip.
Whales are moving a lot of money around which in turn brings up the volume and price. Now the public is getting wind of this and it’s only bad from here on out for the average investor that buys and sits.
Whales are moving a lot of money around which in turn brings up the volume and price. Now the public is getting wind of this and it’s only bad from here on out for the average investor that buys and sits.
panthera
Ride or Die
I rarely come to barf anymore because of how toxic it can be at times. I use other forums for bitcoin talk but when I saw the thread back up I felt that some of you are serious about this technology and want to learn and deserve a reply from someone whos been in this space for a few years now. This run up and the former downturn are nothing new. This happens every few years. I see it as consolidation. I have doubled my stack and still mine all through this bear market. The real bull run hasn't even started. The day stocks were down 600 is when btc did its latest 1k jump. Wait until the market really accelerates downward.
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7,000 bitcoin were stolen from Binance thru 1 transaction worth $40 mill.
Handing keys over to a crypocurrency exchange or a hot wallet opens up the risk of the organization being susceptible to data/security breaches.
https://www.vox.com/recode/2019/5/8/18537073/binance-hack-bitcoin-stolen-blockchain-security-safu
Eh I’m about back to even on what I put in about 18 months ago. Not planning to really do much with it because I have terrible timing with these things.
Entoptic
Red Power!
Dummies using hot wallets. Binance performed an 8 hour maintenance last night to resolve.
What is interesting is that only 2% was stolen at 70m. My god Binance is filthy rich.
Entoptic
Red Power!
Congrats on making most of it back!
panthera
Ride or Die
The intrinsic value comes from the decentralization, easy portability and the fact that no one can confiscate it, among other things. The cash in your pocket has no intrinsic value and is backed only by force. There are cryptocurrencies that are already tied to banks. XRP is the most notable and widely used. There are probably 150 banks that now send worldwide transactions through the Ripple platform. I believe western union also uses xrp. Also JPMorgan Chase is coming out with their own cryptocurrency called the JPMcoin. Anyone can make a blockchain. But if it is not decentralized the owner or company can manipulate and change the ledger. Cant happen with bitcoin because there is no central party, or company that can change the ledger. Its truely decenralized.
That article is a little off. First it was not one transaction. There were multiple hacks and the hacker(s), entered multiple accounts and move all those btc within Binanace then sent them out and moved them to multiple wallets. BTW the 7000 btc were only 2% of what was in the hot wallet. That was all paid for by Binances SAFU (safe asset fund). What that fund does is take 10% of all fees and locks it up to be used incase of a hack. So they already paid out the parties affected. Ive said it before that it is not wise to store your crypto on an exchange. Exchanges can get hacked not the actual blockchain. If you hold the keys no one can access it except you. Stick to stocks if you cant hold your own financial sovereignty. Of course they will charge you and can lock your account if they want and even confiscate it if they or the government want to. Hey this is not for everyone.
Entoptic
Red Power!
If btc hits 10k there is going to be another gold rush.
panthera
Ride or Die
For sure. Wait until 50k and all those folks that talked shit will finally buy in because their financial advisor says to. lol Missing out on the massive run up.
panthera
Ride or Die
BTW:Starting this week big name retailers including Whole Foods (AMZN), Gamestop (GME) and Nordstrom (JWN) will start accepting cryptocurrency as a form of payment in their stores via a new mobile payments app called Spedn by payment network Flexa. Spedn allows consumers to use things such as bitcoin (BTC-USD) and ether (ETH-USD) to make purchases in stores.
Heres the article https://finance.yahoo.com/news/flex...-nordstrom-and-other-retailers-212637788.html
Heres the article https://finance.yahoo.com/news/flex...-nordstrom-and-other-retailers-212637788.html
Entoptic
Red Power!
Eth is way up!
panthera
Ride or Die
At what price point? Id be willing to buy them from you with cash.
One person did these since I posted. I got the $10 worth of tokens for it. Since then the value has increased 50% (from roughly $0.10 to $0.15 per token). It turns out it was worth the < ten minutes. Wish I’d dropped $100 on it then. Still might since it might continue to increase.
panthera
Ride or Die
Yep. Same thing with BAT. Up about 50% since.