Bitcoins are officially donkdown

[Belly Buster]

Anyone who wants to "ban" bitcoins have no idea how they work. The reason people are piling in is because you can't ban them, no one controls them, and are mostly anonymous. That's the point.

And if you criminalize their possession and use, you now have a fresh avenue to open investigations and eventually prosecute citizens, which will inevitably result in the confiscation/forfeiture of assets along with the paying of life-altering fines.

That's the point.

You don't actually "possess" anything though.

The genie is out of the bottle regarding any criminality.

[Dan Druff]

This guy agrees with sonatine, that bitcoins are donkdown:

http://www.weeklystandard.com/bitcoi...rticle/2010612

[sonatine]

And if you criminalize their possession and use, you now have a fresh avenue to open investigations and eventually prosecute citizens, which will inevitably result in the confiscation/forfeiture of assets along with the paying of life-altering fines.

That's the point.

You don't actually "possess" anything though.

The genie is out of the bottle regarding any criminality.

there are a great many collections of 1s and 0s that will land that ass in jail. soon bitcoins will be on that list, if not possession than use, facilitation, etc. its inevitable. global banking isnt trying to have this shit.

its going to be liberty dollars all over again.

[Krypt]

+\- $2000 swing when trump finally gets around to tweeting about bitcoin

[Krypt]

Assuming someone has already briefed him on the topic

[chinamaniac]

BTC / USD USD 9825.00

[gimmick]

this should really be getting a lot more attention than it is, but its cool, soon the curtain will pull back and btc's true donkdown nature will be revealed to all.

Not really, I mean the duke of Westminster could kill this thing, forget the richest people in the world. Its unregulated and a take down is easy peasy lemon squeezy.

I didn't ever see BTC running this high just because there are so many events that could start the crash and a lot of them become likelier as it gains value. 1300 cryptos worth 300b. 1299+ of them basically multi-level marketing schemes and less than 1 worth a fuck ton. Half the bets are still in BTC.

I can't see the future like Sonatine, but we must be at the start of the end. It's the "this shit's going to the moon" with the "how can i invest my life savings in to this" chatter that should be telling. If it wasn't worth someone's time before to takeover the market, it's getting there.

[sonatine]

https://news.vice.com/story/north-ko...xperts-worried


gg guys.

this is going to go viral and end up in trump's morning pile of fsb agitprop.

[big dick]

bout to hit 10k

[big dick]

this should really be getting a lot more attention than it is, but its cool, soon the curtain will pull back and btc's true donkdown nature will be revealed to all.

Not really, I mean the duke of Westminster could kill this thing, forget the richest people in the world. Its unregulated and a take down is easy peasy lemon squeezy.

How so mumbles? How they gonna tid?

[Sanlmar]

Presently it’s unregulated and untaxed. I grossly underestimated how long that was going to be the case. Cool technology and no legislators really wanted to impede what might be important development. But we’ve had our fun and it’s getting surprisingly large and almost mainstream. Recess is almost over.

Tracking the flow of money absolutely will not be forfeited by the establishment. Let’s be real. Right, Mr Manafort? Crooks abound and a little light regulation and a dollop of taxation is close at hand.

I’m a big fan of laissez-faire libertarian tax free utopia. Light regulation kills most everything like Pennsylvania online poker. But I’m a realist.

Imagine if Manafort was bitcoin savvy. So smoove. Tyde’s utopia anyway

[Sanlmar]

Let’s put it another way

As long as Bitcoin is useless for commerce and people continue to like to eat - US points of entry and exit like Coinbase will one day suffer gods wrath.

It’s not like the Feds haven’t already tossed the sheets and looked in the underwear drawer over at Coinbase. The IRS prolly still has the main conference room reserved. The homework has been done.

But if you are like China, who has given up eating, and just want to long term hold then what can they do? It’s brinksmanship.

[Dan Druff]

This is actually a pretty good time for the BTC millionaires to get out.

It becomes the law of diminishing returns -- and every day becomes a higher risk/reward.

Let's take BTC at $100. You decide you believe in it and sink $50k into it, and now you have 500 BTC.

Your greatest possible loss in that scenario was $50,000. Not chump change, but if you're at least somewhat well off, you can stomach it without it affecting your life.

Now BTC is at about $10,000. Your $50k has become $5 million. It's tempting to see how far it can go.... but at what cost?

There's no chance you're going to get another 100x return from this point. BTC isn't going to be worth a million per coin. It's also not likely at be worth $100k per coin. At some point it will crash back to earth. Where is "earth"? I don't know, but it's not going up indefinitely, and common sense says that a return to $1000 is far more likely at this point than a rise to $100,000.

Is $20,000 possible? Yes. But again, so is a catastrophic drop.

For the guy holding 500 BTC, it's the right time to pat yourself on the back, take your $5 million, and not worry whether the $5 million will become $10 or $20 million one day. Because it very well might become $50,000 again... or perhaps zero.

[Dan Druff]

This guy was crying in 2013 after he accidentally threw out 7500 BTC, then-worth $7.5 million.

Now it's worth $75 million.

Wonder how he's feeling now.

[big dick]

just went over 10k

[SysOp]

just went over 10k

BTC SO DONKDOWN Y'ALL

[snake_in_the_ass]

This is actually a pretty good time for the BTC millionaires to get out.

It becomes the law of diminishing returns -- and every day becomes a higher risk/reward.

Let's take BTC at $100. You decide you believe in it and sink $50k into it, and now you have 500 BTC.

Your greatest possible loss in that scenario was $50,000. Not chump change, but if you're at least somewhat well off, you can stomach it without it affecting your life.

Now BTC is at about $10,000. Your $50k has become $5 million. It's tempting to see how far it can go.... but at what cost?

There's no chance you're going to get another 100x return from this point. BTC isn't going to be worth a million per coin. It's also not likely at be worth $100k per coin. At some point it will crash back to earth. Where is "earth"? I don't know, but it's not going up indefinitely, and common sense says that a return to $1000 is far more likely at this point than a rise to $100,000.

Is $20,000 possible? Yes. But again, so is a catastrophic drop.

For the guy holding 500 BTC, it's the right time to pat yourself on the back, take your $5 million, and not worry whether the $5 million will become $10 or $20 million one day. Because it very well might become $50,000 again... or perhaps zero.

They won't sell. They didn't sell at 1 million, 2 million, etc. Crypto is a religion to most folks. And in a bull market, people will believe anything. There is a saying about investing, especially pertains to gold mining exploration stocks: in the beginning the promoter has the vision and the investor has the money, in the end the promoter has the money and the investor has the vision. In the case of crypto, the promoters would be the miners.

[Scandinavian Bob]

This is actually a pretty good time for the BTC millionaires to get out.

It becomes the law of diminishing returns -- and every day becomes a higher risk/reward.

Let's take BTC at $100. You decide you believe in it and sink $50k into it, and now you have 500 BTC.

Your greatest possible loss in that scenario was $50,000. Not chump change, but if you're at least somewhat well off, you can stomach it without it affecting your life.

Now BTC is at about $10,000. Your $50k has become $5 million. It's tempting to see how far it can go.... but at what cost?

There's no chance you're going to get another 100x return from this point. BTC isn't going to be worth a million per coin. It's also not likely at be worth $100k per coin. At some point it will crash back to earth. Where is "earth"? I don't know, but it's not going up indefinitely, and common sense says that a return to $1000 is far more likely at this point than a rise to $100,000.

Is $20,000 possible? Yes. But again, so is a catastrophic drop.

For the guy holding 500 BTC, it's the right time to pat yourself on the back, take your $5 million, and not worry whether the $5 million will become $10 or $20 million one day. Because it very well might become $50,000 again... or perhaps zero.

They won't sell. They didn't sell at 1 million, 2 million, etc. Crypto is a religion to most folks. And in a bull market, people will believe anything. There is a saying about investing, especially pertains to gold mining exploration stocks: in the beginning the promoter has the vision and the investor has the money, in the end the promoter has the money and the investor has the vision. In the case of crypto, the promoters would be the miners.

Those that understand Game Theory, and many do not, would be wise to get out. There is no intrinsic value of Bitcoin except a belief system and those theories never last, ever. Currency is based upon value, and the reason the US Dollar is so coveted is because people come to America and see all these tall buildings, Hollywood, technology, companies, stable government, etc... and realize our currency is backed up by real things. Versus some currency in central Africa which is essentially worthless because their economies really don't exist.

Only very few internet companies from the 90s survived, and many had values in the billions only to dissolve. The net worth of the bankrupt internet companies far exceeded the value of bitcoin. Bitcoin has no value just like many of these 1990s dotcoms. The problem is before the masses realize it the crash will have started. It's not that Bitcoin is going to reduce in value, it's going to eventually go away altogether, as governments will simply outlaw its exchange. There will always be a black market, but as soon as the black market poses an threat to global currencies, it will cease immediately. Everyone thought Silkroad was unstoppable too. It ended as soon as it became a thorny issue for the Feds.

[Erin Micunt]

For anyone that remembers, how many bitcoins did micon give away on his radio freeroll tournaments?

[ToasterOven]

This is actually a pretty good time for the BTC millionaires to get out.

It becomes the law of diminishing returns -- and every day becomes a higher risk/reward.

Let's take BTC at $100. You decide you believe in it and sink $50k into it, and now you have 500 BTC.

Your greatest possible loss in that scenario was $50,000. Not chump change, but if you're at least somewhat well off, you can stomach it without it affecting your life.

Now BTC is at about $10,000. Your $50k has become $5 million. It's tempting to see how far it can go.... but at what cost?

There's no chance you're going to get another 100x return from this point. BTC isn't going to be worth a million per coin. It's also not likely at be worth $100k per coin. At some point it will crash back to earth. Where is "earth"? I don't know, but it's not going up indefinitely, and common sense says that a return to $1000 is far more likely at this point than a rise to $100,000.

Is $20,000 possible? Yes. But again, so is a catastrophic drop.

For the guy holding 500 BTC, it's the right time to pat yourself on the back, take your $5 million, and not worry whether the $5 million will become $10 or $20 million one day. Because it very well might become $50,000 again... or perhaps zero.

I agree with this, as someone who is a normal, basic investor in things. However, people like us would have said this when the 50k became 100k, or 200k or 1million. I don't think regular people, or old people as it were, think like the big time bitcoin investor. If you grabbed some bitcoin at 100$, and aren't totally buying into crypto, you already cashed your profits.