€100 of Bitcoin in 2010 = €70m today

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A5D5E5
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Re: €100 of Bitcoin in 2010 = €70m today

Post by A5D5E5 »

etherman wrote:So they got into the dead Quadriga guys laptop, and found out he had already cleaned out all the accounts. :lol:

https://www.bbc.co.uk/news/technology-47454528
The only surprise is the number of credulous fools who are prepared to give their money to somebody else based on a nice website and some clever sounding jargon.
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BlackMac
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Re: €100 of Bitcoin in 2010 = €70m today

Post by BlackMac »

A5D5E5 wrote:
etherman wrote:So they got into the dead Quadriga guys laptop, and found out he had already cleaned out all the accounts. :lol:

https://www.bbc.co.uk/news/technology-47454528
The only surprise is the number of credulous fools who are prepared to give their money to somebody else based on a nice website and some clever sounding jargon.
The sort of folk you could sell "magic beans" to.
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The Sun God
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Re: €100 of Bitcoin in 2010 = €70m today

Post by The Sun God »

etherman wrote:So they got into the dead Quadriga guys laptop, and found out he had already cleaned out all the accounts. :lol:

https://www.bbc.co.uk/news/technology-47454528
Total scam. No offices,no bank accounts, no employees, co founder a convicted felon ( Michael Patryn/Omar Dhanani ) and the guy carries around 190 million Canadian in his laptop..!! Files a will 12 days before his death. FFS if I were ever going to scam my own demise, India would be top of my list to do it in.

There really are mugs born every minute.
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Harveys
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Re: €100 of Bitcoin in 2010 = €70m today

Post by Harveys »

Bitcoin has been rallying hard the last five weeks, up 20% the last 7 days.
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sorCrer
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Re: €100 of Bitcoin in 2010 = €70m today

Post by sorCrer »

Harveys wrote:Bitcoin has been rallying hard the last five weeks, up 20% the last 7 days.
Yep. Unless you're really focused on what is happening in the world of digital currency, you're still riding horses.
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kiwinoz
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Re: €100 of Bitcoin in 2010 = €70m today

Post by kiwinoz »

Well I would back LTC from sub $90 to $130 ish over the next week
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Tehuringa
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Re: €100 of Bitcoin in 2010 = €70m today

Post by Tehuringa »

Any thoughts on Durov's TON network & GRAM?.....it will be interesting to see what happens now that Zuckerberg has mimicked Pavel's lead, though I'd expect Facebook's past privacy indiscretions could have an impact..... mind you, there are pluses and minuses for both. I managed to get in on the first VC tranche at .85c and the recent BETA testing of the platform transaction speeds looks very promising.
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paddyor
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Re: €100 of Bitcoin in 2010 = €70m today

Post by paddyor »

Who would've guessed a big co would try and co opt the "new tech"

https://twitter.com/Nouriel/status/1140750182373568514

I tend to subscribe to the view that all the Co's that paid in 10m did it just to be sure they wouldn't be missing out.
goeagles
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Re: €100 of Bitcoin in 2010 = €70m today

Post by goeagles »

paddyor wrote:Who would've guessed a big co would try and co opt the "new tech"

https://twitter.com/Nouriel/status/1140750182373568514

I tend to subscribe to the view that all the Co's that paid in 10m did it just to be sure they wouldn't be missing out.
Do you still think this spells the end of Bitcoin?
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sorCrer
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Re: €100 of Bitcoin in 2010 = €70m today

Post by sorCrer »

And Facebook announce Libra, their own blockchain based coin.
Nabberuk
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Re: €100 of Bitcoin in 2010 = €70m today

Post by Nabberuk »

Yourmother wrote:
goeagles wrote:
Yourmother wrote:
goeagles wrote:
Azlan Roar wrote:It now costs more to make bitcoin than the cryptocurrency is worth according to an analysis by JP Morgan Chase, published in NS

It might cost more than $3500 in most places, but Bitcoin mining has been remarkably efficient at finding the cheapest unused power sources. Also, the price has been around this level for a couple months. I doubt people are going to mine at a loss for months. When those with higher mining costs end up having to stop mining, the difficulty adjustment goes down and it costs less to mine.
What a staggering waste of resources.

In a world where we try to build tech to do things more efficiently, use less resource, and waste less energy, I present to you bitcoin.
First, quite a bit of the energy used to mine Bitcoin comes from places with unused renewable energy, like hydro in Sichuan province, that would otherwise be wasted. But beyond that, just because you think Bitcoin is a waste of resources does not make it so. I happen to think, at the very least, it's an important hedge against a) the hyper-surveillance that will come with a cashless society, b) increasingly experimental monetary policy either being implemented (QE) or proposed (MMT) in developed nations and c) living under an authoritarian regime.

Edit to add that Bitcoin could be more efficient but you basically have to trade security/vulnerability for efficiency. If you think of Bitcoin as a base settlement layer with other layers built on top of it, you want it to be very secure. Then you let layer 2 solutions like Lightning increase efficiency, without sacrificing anything on the base layer.
Lightning just adds a bodge on top of the horrible inefficiency of bitcoin, and then loses the security.

And speaking of security, simple open source code shared can lead to massive fraud, as has occurred.

But in the bitcoin world there is no recourse.

It’s a complete mess.
Because theres never been any fraud in the closed shop banking system.
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sorCrer
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Re: €100 of Bitcoin in 2010 = €70m today

Post by sorCrer »

Nabberuk wrote:
Yourmother wrote:
goeagles wrote:
Yourmother wrote:
goeagles wrote: It might cost more than $3500 in most places, but Bitcoin mining has been remarkably efficient at finding the cheapest unused power sources. Also, the price has been around this level for a couple months. I doubt people are going to mine at a loss for months. When those with higher mining costs end up having to stop mining, the difficulty adjustment goes down and it costs less to mine.
What a staggering waste of resources.

In a world where we try to build tech to do things more efficiently, use less resource, and waste less energy, I present to you bitcoin.
First, quite a bit of the energy used to mine Bitcoin comes from places with unused renewable energy, like hydro in Sichuan province, that would otherwise be wasted. But beyond that, just because you think Bitcoin is a waste of resources does not make it so. I happen to think, at the very least, it's an important hedge against a) the hyper-surveillance that will come with a cashless society, b) increasingly experimental monetary policy either being implemented (QE) or proposed (MMT) in developed nations and c) living under an authoritarian regime.

Edit to add that Bitcoin could be more efficient but you basically have to trade security/vulnerability for efficiency. If you think of Bitcoin as a base settlement layer with other layers built on top of it, you want it to be very secure. Then you let layer 2 solutions like Lightning increase efficiency, without sacrificing anything on the base layer.
Lightning just adds a bodge on top of the horrible inefficiency of bitcoin, and then loses the security.

And speaking of security, simple open source code shared can lead to massive fraud, as has occurred.

But in the bitcoin world there is no recourse.

It’s a complete mess.
Because theres never been any fraud in the closed shop banking system.
He is talking rubbish.
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Rinkals
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Re: €100 of Bitcoin in 2010 = €70m today

Post by Rinkals »

sorCrer wrote:
Nabberuk wrote:
Yourmother wrote:
Lightning just adds a bodge on top of the horrible inefficiency of bitcoin, and then loses the security.

And speaking of security, simple open source code shared can lead to massive fraud, as has occurred.

But in the bitcoin world there is no recourse.

It’s a complete mess.
Because theres never been any fraud in the closed shop banking system.
He is talking rubbish.
I remember getting a lecture from a young eighteen-year-old in a computer repair shop on the inherent vulnerability of open source software due to anyone being able to get the source code and write viruses and how the Windows security through obfuscation model was greatly superior to Linux for that reason.

Still, I suppose it does provide an element of logic to the still-unformed mind.
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sorCrer
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Re: €100 of Bitcoin in 2010 = €70m today

Post by sorCrer »

Rinkals wrote: I remember getting a lecture from a young eighteen-year-old in a computer repair shop on the inherent vulnerability of open source software due to anyone being able to get the source code and write viruses and how the Windows security through obfuscation model was greatly superior to Linux for that reason.

Still, I suppose it does provide an element of logic to the still-unformed mind.
You'd think that someone would realise that open source software generally has less vulnerabilities due to it's codebase transparency.
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kiwinoz
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Re: €100 of Bitcoin in 2010 = €70m today

Post by kiwinoz »

Next few days will be interesting. I expect a "lord giveth and lord taketh away" week or so.
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sorCrer
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Re: €100 of Bitcoin in 2010 = €70m today

Post by sorCrer »

kiwinoz wrote:Next few days will be interesting. I expect a "lord giveth and lord taketh away" week or so.
I'll be happy either way. :smug:
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kiwinoz
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Re: €100 of Bitcoin in 2010 = €70m today

Post by kiwinoz »

sorCrer wrote:
kiwinoz wrote:Next few days will be interesting. I expect a "lord giveth and lord taketh away" week or so.
I'll be happy either way. :smug:
:thumbup:
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paddyor
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Re: €100 of Bitcoin in 2010 = €70m today

Post by paddyor »

sorCrer wrote:
kiwinoz wrote:Next few days will be interesting. I expect a "lord giveth and lord taketh away" week or so.
I'll be happy either way. :smug:
I'm sure you will

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Harveys
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Re: €100 of Bitcoin in 2010 = €70m today

Post by Harveys »

kiwinoz wrote:Next few days will be interesting. I expect a "lord giveth and lord taketh away" week or so.
It will be interesting to watch, if we break through 11.6k and find support, well there are not many supports left to test before ATH.

But yea, some are sitting on good profits, id be surprised not to see some profit taking soon.
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dam0
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Re: €100 of Bitcoin in 2010 = €70m today

Post by dam0 »

Harveys wrote:
kiwinoz wrote:Next few days will be interesting. I expect a "lord giveth and lord taketh away" week or so.
It will be interesting to watch, if we break through 11.6k and find support, well there are not many supports left to test before ATH.

But yea, some are sitting on good profits, id be surprised not to see some profit taking soon.
FOMO will outweigh any people cashing in their profits. The speed it went from 9900 to 10400 was alarming.
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Harveys
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Re: €100 of Bitcoin in 2010 = €70m today

Post by Harveys »

Ha, last I saw it was 9.7k.

We will see what happens with volume.
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massive_field_goal
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Re: €100 of Bitcoin in 2010 = €70m today

Post by massive_field_goal »

Smells like a hail mary play to me

1. IFinex companies (Bitfinix, Tether) start getting hauled before the courts for massive fraud and what not.
2. BTC starts inflating again. Above entities obtain 90 day injunction in mid May from courts
3. Tether start fashioning vast amounts of money out of thin air (again), including $200M in the last 2 weeks alone
4. BTC goes on a tear, largely un-correlated with and completely out of proportion with other safe-haven assets

They got away with it in 2017/2018, will they get away with it again? Will go down as one of the world's greatest scams.
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sorCrer
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Re: €100 of Bitcoin in 2010 = €70m today

Post by sorCrer »

$11000 now.
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Harveys
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Re: €100 of Bitcoin in 2010 = €70m today

Post by Harveys »

XRP is having a lot of trouble breaking past .46.
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sorCrer
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Re: €100 of Bitcoin in 2010 = €70m today

Post by sorCrer »

Harveys wrote:XRP is having a lot of trouble breaking past .46.
It will follow. The alts normally do. Hope so anyway. Edit: No need to be so open. :blush:
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sorCrer
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Re: €100 of Bitcoin in 2010 = €70m today

Post by sorCrer »

Harveys wrote:XRP is having a lot of trouble breaking past .46.
.465 now
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Harveys
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Re: €100 of Bitcoin in 2010 = €70m today

Post by Harveys »

sorCrer wrote:
Harveys wrote:XRP is having a lot of trouble breaking past .46.
.465 now
XRP & XLM have done fudge all this run, apparently XRP is always late to the party but still I expected it to be back at a dollar by now.
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sorCrer
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Re: €100 of Bitcoin in 2010 = €70m today

Post by sorCrer »

Harveys wrote:
sorCrer wrote:
Harveys wrote:XRP is having a lot of trouble breaking past .46.
.465 now
XRP & XLM have done fudge all this run, apparently XRP is always late to the party but still I expected it to be back at a dollar by now.
Yep. XRP is like that but it's starting to move now. Stellar is too.
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massive_field_goal
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Re: €100 of Bitcoin in 2010 = €70m today

Post by massive_field_goal »

I suggest any fan or speculator of cryptocurrencies, especially bitcoin, endeavour to read the following document at their own leisure:

https://iapps.courts.state.ny.us/fbem/D ... ystem=prod
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sorCrer
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Re: €100 of Bitcoin in 2010 = €70m today

Post by sorCrer »

massive_field_goal wrote:I suggest any fan or speculator of cryptocurrencies, especially bitcoin, endeavour to read the following document at their own leisure:

https://iapps.courts.state.ny.us/fbem/D ... ystem=prod
Been following Bitfinex and the Tether issue for years and it is very problematic. Bitfinex is a stable business though and appear confident that they can handle the tether loan repayment. Worrying yes, end of the world? Probably not.
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massive_field_goal
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Re: €100 of Bitcoin in 2010 = €70m today

Post by massive_field_goal »

"stable business"? that's not the impression I get reading that writ above!

i'm convinced they played/play a central role in manipulating prices higher - in fact it's almost a given. seeing as they are supposed to front up to court in less than two months with a bunch of documents disproving this, and so far they have only provided screenshots and twitter posts, it is highly likely they are having one last horrah before a shit load of money goes missing.
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sorCrer
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Re: €100 of Bitcoin in 2010 = €70m today

Post by sorCrer »

massive_field_goal wrote:"stable business"? that's not the impression I get reading that writ above!

i'm convinced they played/play a central role in manipulating prices higher - in fact it's almost a given. seeing as they are supposed to front up to court in less than two months with a bunch of documents disproving this, and so far they have only provided screenshots and twitter posts, it is highly likely they are having one last horrah before a shit load of money goes missing.
I'm concerned about Tether and whether it's propped up. Have been since 2017.

In terms of volume, Bitfinex isn't in the top 20 list of exchanges. It was established in 2012 though and they have come through before. All we can do is wait and see.
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Re: €100 of Bitcoin in 2010 = €70m today

Post by goeagles »

BTC dominance over 60% for the first time since 2017.
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sorCrer
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Re: €100 of Bitcoin in 2010 = €70m today

Post by sorCrer »

goeagles wrote:BTC dominance over 60% for the first time since 2017.
Looking very bullish. I reckon it will test 12k shortly.
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massive_field_goal
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Re: €100 of Bitcoin in 2010 = €70m today

Post by massive_field_goal »

Again, no hype at all in media etc compared to last time. Nothing fundamental to drive the price. Alt coins not following BTC this time - it all screams manipulation.

Bitcoin is being destroyed and all the HODLers are having a party.
goeagles
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Re: €100 of Bitcoin in 2010 = €70m today

Post by goeagles »

massive_field_goal wrote:Again, no hype at all in media etc compared to last time. Nothing fundamental to drive the price. Alt coins not following BTC this time - it all screams manipulation.

Bitcoin is being destroyed and all the HODLers are having a party.
Media hype might drive retail investors but this is almost certainly coming from institutional investors. The fundamentals are as strong as ever. Highest hash rate ever, better fiat on/off ramps, better custodial solutions than ever, general legitimization of the industry via Facebook/JPM/etc. Nothing about Bitcoin is being destroyed. It grows stronger every day and the need for it becomes more apparent as we hear more and more from central banks talking about crazy wealth destroying policies.
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kiwinoz
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Re: €100 of Bitcoin in 2010 = €70m today

Post by kiwinoz »

Its strange that BTC will pull all down but necessarily doesn't pull them up. Alts to jump soon I think but there is heavy manipulation taking place ie 100% of LTC trading by volume. This is throwing timing etc out a bit eg my $135 LTC prediction from $90 took a bit longer than I suggested.
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massive_field_goal
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Re: €100 of Bitcoin in 2010 = €70m today

Post by massive_field_goal »

The way I see it, the folk doing the manipulatin' have been given a carte blanche from the courts with about 1 month left, so they are extracting as much fiat (for lack of a better term) out of the system before it all goes tits up.
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kiwinoz
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Re: €100 of Bitcoin in 2010 = €70m today

Post by kiwinoz »

That may be the case - tether has been highlighted as being dodgy from early days but once the EFTs etc came on then all hell broke loose on manipulation. I know someone who could prior to EFTs predict prices turns to the exact point in time now working within a week or so at best. Its no different to say Silver where there has even been confessions and convictions of manipulation but it still continues.
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Harveys
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Re: €100 of Bitcoin in 2010 = €70m today

Post by Harveys »

sorCrer wrote:
goeagles wrote:BTC dominance over 60% for the first time since 2017.
Looking very bullish. I reckon it will test 12k shortly.
Hard to believe only 18 months later we could be looking at potently another ATH, but stepping back and looking at the entire history its much less surprising.
350 day moving average of Bitcoin’s price. It has historically been an important moving average because once price moves above it, a new bull run begins.
Spoiler: show
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Last edited by Harveys on Thu Jun 27, 2019 6:23 am, edited 1 time in total.
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