Opinion: Bitcoin, Ether and other cryptocurrencies may be seeing the beginning of the end

[Dannyblueyes]

well I aint worried about what people will or wont use..

I just know I had a chance to load up on bitcoin, and I procrastinated and missed the boat....

I am not making that mistake again..

I worry because if nobody spends it then the economy behind it dies and much of its potential dies along with it. For instance, why use it to transfer funds internationally when Western Union is now cheaper? How can it be a "bank for the unbanked" when banks are now cheaper? These "little guys" are crucial to the infrastructure. Without them the economy of scale collapses and bitcoin is no longer viable.

Coinbase is a dirty man. Have you tried bitpay wallet or bitpay card? Send that BTC to a wallet you control and then get what you want.

They are dirty, but the real issue is that bitcoin's creators never expected it to become this popular. If they did they would have made a network that can handle bigger data packets.

 

[Moving Target]

60% of Americans have less than $500 in savings and that's still far better than most of the world. People wont use a currency that can't be cheaply liquidated.

the crypto market is very young right now. think where we were 10-15 years ago in tech. your phone now replaces 6 devices and is liekly a part of your everyday life like email. in the 1990s , nobody knew what email was or understood it...but once they got the concept, booom...it exploded. same with cryptos. even john mcafee the software virus guy stated that cryptos arent going away, pandor's box has been opened. the govts and bank might try to put the secret back in the box but its too late bc the underground has already got it and workin with it. what happens wen peopl dont need USD any more to buy, sell and trade goods...shit china, russia, and india, and likely venezuela are already doing this within BRICS agreement. so this is the harbinger of of the death of the USD. I teach a class on the history of money and once you understand that the USD is monopoly money and only has value bc we THINK it does.....otherwise its play money and worthless....same as monopoly money....cryptos will be the new medium of exchange in the future which is now. esp for those that want to fight the power, or do underground stuff, or illegal activities...as long as there is a black market there will be a space for cryptos. and there will always be a black market.

BTW look up
SDR = special drawing rights
Bank of international settlements BIS
world bank
IMF = international monetary fund
SWIFT international banking system ...these are the people ripple the company hope to subtly replace and if they use XRP that would be fine with me. im still holding a little.

 

[Mrfreddygoodbud]

I worry because if nobody spends it then the economy behind it dies and much of its potential dies along with it. For instance, why use it to transfer funds internationally when Western Union is now cheaper? How can it be a "bank for the unbanked" when banks are now cheaper? These "little guys" are crucial to the infrastructure. Without them the economy of scale collapses and bitcoin is no longer viable.



They are dirty, but the real issue is that bitcoin's creators never expected it to become this popular. If they did they would have made a network that can handle bigger data packets.

I understand what you are saying but bitcoins bread and butter is not mainstream usage,

it core usage is underground black market shit....

and thats where its core users prefer it to be spend...

I predict a future where there will be so much competition in bitcoin atm usage the fees will drop

to what the average atm fees are now....

but I do hear ya, that sixteen dollar network fee is a gotdam crime...

 

[Dannyblueyes]

the crypto market is very young right now. think where we were 10-15 years ago in tech. your phone now replaces 6 devices and is liekly a part of your everyday life like email. in the 1990s , nobody knew what email was or understood it...but once they got the concept, booom...it exploded. same with cryptos. even john mcafee the software virus guy stated that cryptos arent going away, pandor's box has been opened. the govts and bank might try to put the secret back in the box but its too late bc the underground has already got it and workin with it. what happens wen peopl dont need USD any more to buy, sell and trade goods...shit china, russia, and india, and likely venezuela are already doing this within BRICS agreement. so this is the harbinger of of the death of the USD. I teach a class on the history of money and once you understand that the USD is monopoly money and only has value bc we THINK it does.....otherwise its play money and worthless....same as monopoly money....cryptos will be the new medium of exchange in the future which is now. esp for those that want to fight the power, or do underground stuff, or illegal activities...as long as there is a black market there will be a space for cryptos. and there will always be a black market.

BTW look up
SDR = special drawing rights
Bank of international settlements BIS
world bank
IMF = international monetary fund
SWIFT international banking system ...these are the people ripple the company hope to subtly replace and if they use XRP that would be fine with me. im still holding a little.

Right now bitcoin is the currency that all other cryptos are judged against. If it falls the public will assume the whole market is falling which causes it to fail for real.

You and I know different, but unfortunately so do the banks. Once bitcoin disappears they can start pushing their own and sidestep practically every regulation the feds have put on their industry. This would be disastrous for the entire world

 

[gene cisco]

I worry because if nobody spends it then the economy behind it dies and much of its potential dies along with it. For instance, why use it to transfer funds internationally when Western Union is now cheaper? How can it be a "bank for the unbanked" when banks are now cheaper? These "little guys" are crucial to the infrastructure. Without them the economy of scale collapses and bitcoin is no longer viable.



They are dirty, but the real issue is that bitcoin's creators never expected it to become this popular. If they did they would have made a network that can handle bigger data packets.

Bitcoin is the gateway man. Don't forget that. It's how we have to CURRENTLY introduce and take out fiat for the most part. It's not so much about spending man. Do you think that investment fund that is worth 2x what BTC is worth is people trying to spend that shit?

Most of the folks on BGOL who made money in crypto didn't do so through BTC. It was the alts. BTC is the gateway to those alts. You want to make some money, you get a piece of BTC no matter what the price of BTC is(since it is divisible 8 places) and flip that in alts. That's the game.

Now how you split that profit through BTC, Fiat, and any alt coins you really believe in is on you. You really have to dig deeper into blockchain. There are alts that are solving the problems you are worried about. Key is to get in them early.

 

[Gods_Debris]

Bitcoin is the gateway man. Don't forget that. It's how we have to CURRENTLY introduce and take out fiat for the most part. It's not so much about spending man. Do you think that investment fund that is worth 2x what BTC is worth is people trying to spend that shit?

Most of the folks on BGOL who made money in crypto didn't do so through BTC. It was the alts. BTC is the gateway to those alts. You want to make some money, you get a piece of BTC no matter what the price of BTC is(since it is divisible 8 places) and flip that in alts. That's the game.

Now how you split that profit through BTC, Fiat, and any alt coins you really believe in is on you. You really have to dig deeper into blockchain. There are alts that are solving the problems you are worried about. Key is to get in them early.

Gene we'll tell him in a year when the crew is live casting from the boat with the no limit symbol emblazoned on the side.

#TT.

First rule of fight club.

 

[gene cisco]

Gene we'll tell him in a year when the crew is live casting from the boat with the no limit symbol emblazoned on the side.

#TT.

First rule of fight club.

I'll have that shit tatted on my hand man.

At least he is in the game. We all are learning daily.

 

[exiledking]

Yeah, fees did get crazy for a minute. But I usually only risk .5 BTC transfers at one time(just paranoid), and only paid like .0005 to do it with each transaction recently, which wasn't shit.



Think platforms. Like ETH. Untraceable coins like Monero are good, but platforms allowing for people to do what they want might be even better. Safeex and Nav seem to be platforms. Bills brought Safeex to our attention. That Chilli marketplace could be huge.

Also, there is money in the extremely compliant crypto platforms. Governments will treat them like the good children while trying to treat the others like stepchildren locked in the attic. Both can make money.

You know this is bigger than bitcoin and more about the blockchain tech. Cats want to sleep on what is going on. Sad shit man. We already seen how they doubling up on the bitcoin investment on wallstreet. These fat cats already moving money into the game. They win either fucking way.

You're definitely up on your blockchain game

 

[kefta]

man you're so in the dark its crazy
you should be in this shit cause it could deliver true equality.
money that can't be controlled by racism/white supremacy
you of all ppl should be all in

 

[kefta]

I worry because if nobody spends it then the economy behind it dies and much of its potential dies along with it. For instance, why use it to transfer funds internationally when Western Union is now cheaper? How can it be a "bank for the unbanked" when banks are now cheaper? These "little guys" are crucial to the infrastructure. Without them the economy of scale collapses and bitcoin is no longer viable.

C/S... People sitting on it until white Jesus comes... That's my point...

 

[Gods_Debris]

C/S... People sitting on it until white Jesus comes... That's my point...

Just stop. You sound stupid bruh. I mean really and it makes me no difference just letting you know the real deal. All I really do is trade crypto and I guarantee you I make more money than you do. I have other businesses, yes, but crypto are by far my greatest assets time in over output.

 

[kefta]

Just stop. You sound stupid bruh. I mean really and it makes me no difference just letting you know the real deal. All I do is trade crypto and I guarantee you I make more money than you do.

Prove it...

Dude you are behind a computer screen on a keyboard talking about ish that you can't prove? Share your investments, bank statements, title of ownership, etc.

 

[Gods_Debris]

Prove it...

Dude you are behind a computer screen on a keyboard talking about ish that you can't prove? Share your investments, bank statements, title of ownership, etc.

Ok smart guy, you know better.

 

[kefta]

Just stop. You sound stupid bruh. I mean really and it makes me no difference just letting you know the real deal. All I really do is trade crypto and I guarantee you I make more money than you do. I have other businesses, yes, but crypto are by far my greatest assets time in over output.

Ok smart guy, you know better.

Prove it...

Virtual world done gas some of you up.. Don't speak of what you can't prove. That's my other point.

 

[Gods_Debris]

Prove it...

Virtual world done gas some of you up.. Don't speak of what you can't prove. That's my other point.

That's not how this works. In your head maybe it does but I've seen what comes out of that. Believe what you will, son.

This guy with the "show me a bank statement" like he's the IRS. Hilarious. Anonymity is the name of the game don't be a dolt. I'm done though sorry, bruh. Really I have no hard feelings you just don't know WTF you're talking about is all. WTF is a bank statement besides virtual money? Holler back when you can parse that one.

 

[gene cisco]

That's not how this works. In your head maybe it does but I've seen what comes out of that. Believe what you will, son.

This silly ass dude "show me a bank statement" like he's the IRS. Hilarious. Anonymity is the name of the game you dolt. I'm done though sorry, bruh. Really I have no hard feelings you just don't know WTF you're talking about is all.

Bruh. I'm up waiting for some Monday news out of China to see if there will be a sale or not, and this convo is hilarious.

Proof?

Marketcap has gone as high as $180 billion. FACT. Bitcoin to $5000 max. Eth to over $300 with a $400 max. Neo went from under $1 in June to over $40 in August. Gas went from 15 cents to over $30 dollars from June to August. BTC holders got free BCC. OMG is going batshit. BNB went from 10 cents to damn near $3. Monaco did damn near the same. Then there was Monero. I could go on. And I'm missing so many come ups in that list.

But he wants 'proof.' Just fucking sad. It's beyond sad. It's like he can't do simple math. Some crab ass shit IMHO. What is to show when the proof is public on a BGOL thread and the fucking Internet in general?

Some cats just mentally defeated.

 

[HeathCliff]

Prove it...

Virtual world done gas some of you up.. Don't speak of what you can't prove. That's my other point.

Have you ever made a quarter million dollars in less than 3 months?

 

[Star]

IOC's did NOT pass the smell test. That is why china, the US, and Europe shut them down.
My Money is on Bitcoin and always will be. All 900+ other coins compare themselfs to Bitcoin.
Those IOC's were being bought with Bitcoin and not real cash of any type.
Then they was to payout in Bitcoin ( as I understand) Good thing they was shut down now and not later.

 

[largebillsonlyplease]

Prove it...

Dude you are behind a computer screen on a keyboard talking about ish that you can't prove? Share your investments, bank statements, title of ownership, etc.

I've personally made dudes on here hundreds of thousands of real dollars that they could buy anything they want to now.
and a few cats millionaires.

 

[largebillsonlyplease]

IOC's did NOT pass the smell test. That is why china, the US, and Europe shut them down.
My Money is on Bitcoin and always will be. All 900+ other coins compare themselfs to Bitcoin.
Those IOC's were being bought with Bitcoin and not real cash of any type.
Then they was to payout in Bitcoin ( as I understand) Good thing they was shut down now and not later.

ICO's
and bitcoin will always be king but the price jump to get in is too high unless you're a BIG BALLER

for the rest of us we are buying stakes in coins that are $2 and turning into $50 and then selling and having thousands of dollars to just put into btc.

if i can take 1,000 when btc is worth 4k put it into a coin and that 1k turns into 65k and btc is now 5k wouldn't that make more sense? cause now instead of buying a part of 1 btc I could now just buy 13 full btc and hold it there and let that rise in value

 

[Gods_Debris]

ICO's
and bitcoin will always be king but the price jump to get in is too high unless you're a BIG BALLER

for the rest of us we are buying stakes in coins that are $2 and turning into $50 and then selling and having thousands of dollars to just put into btc.

if i can take 1,000 when btc is worth 4k put it into a coin and that 1k turns into 65k and btc is now 5k wouldn't that make more sense? cause now instead of buying a part of 1 btc I could now just buy 13 full btc and hold it there and let that rise in value

how do you feel about SAFEX?

 

[exiledking]

Bruh. I'm up waiting for some Monday news out of China to see if there will be a sale or not, and this convo is hilarious.

Proof?

Marketcap has gone as high as $180 billion. FACT. Bitcoin to $5000 max. Eth to over $300 with a $400 max. Neo went from under $1 in June to over $40 in August. Gas went from 15 cents to over $30 dollars from June to August. BTC holders got free BCC. OMG is going batshit. BNB went from 10 cents to damn near $3. Monaco did damn near the same. Then there was Monero. I could go on. And I'm missing so many come ups in that list.

But he wants 'proof.' Just fucking sad. It's beyond sad. It's like he can't do simple math. Some crab ass shit IMHO. What is to show when the proof is public on a BGOL thread and the fucking Internet in general?

Some cats just mentally defeated.

You know that's been keftas thing from jump. He writes his own defeat statement literally every day. He can only tell you what he ain't gonna do and what aint right. There ain't no DO in him. You gotta just cut that kinda mentality loose.

 

[Dannyblueyes]

C/S... People sitting on it until white Jesus comes... That's my point...

I don't blame them.

The first time I made quick money with bitcoin I shared the profits by giving $10 worth to four different people. This was in December 2015 when 1 btc=around $400. The ones that held on could easily sell it for $100 today. Despite my criticisms I still hold, buy and trade Bitcoin. Just don't know how much longer it will last.

 

[exiledking]

I don't blame them.

The first time I made quick money with bitcoin I shared the profits by giving $10 worth to four different people. This was in December 2015 when 1 btc=around $400. The ones that held on could easily sell it for $100 today. Despite my criticisms I still hold, buy and trade Bitcoin. Just don't know how much longer it will last.

I want this "crash" to really CRASH so I can get a little reset action from what I missed out on the last time The bottom line is blockchain tech and cryptocurrency is something special. I've profited a little but it took me too long to really see. Still learning the fundamentals.

 

[gene cisco]

I want this "crash" to really CRASH so I can get a little reset action from what I missed out on the last time The bottom line is blockchain tech and cryptocurrency is something special. I've profited a little but it took me too long to really see. Still learning the fundamentals.

Don't worry. After China is done fucking up what would have been a helluva bull run in September, we have the fork issues of November coming up. Goldman Sachs will be gloating about their price prediction, but BTC would have blown past $5000 had it not been for Chinese FUD fuckery.

Now if China manages to stfu for what's left of September OR has positive news, might have a nice couple of weeks until this fork shit heats up in Oct leading to Nov.

 

[exiledking]

Don't worry. After China is done fucking up what would have been a helluva bull run in September, we have the fork issues of November coming up. Goldman Sachs will be gloating about their price prediction, but BTC would have blown past $5000 had it not been for Chinese FUD fuckery.

Now if China manages to stfu for what's left of September OR has positive news, might have a nice couple of weeks until this fork shit heats up in Oct leading to Nov.

So you're saying you think the sale will go much lower? Cuz back when it was 2k just a few months ago I dipped my toein but k was bullshitting. I want it to go back lol

 

[gene cisco]

So you're saying you think the sale will go much lower? Cuz back when it was 2k just a few months ago I dipped my toein but k was bullshitting. I want it to go back lol

Currently, it seems like it. We knew Oct/Nov was coming, but most folks in the game were hype for Aug/Sept after the fork issue in July. China FUD is causing a downturn during what would have been a month that we'd have passed $200 billion marketcap. Good news can come out of places like Japan, Europe, Korea, Russia, and the U.S. to offset China fuckery, but that fork issue still is there for November.

If you fuck with coinbase, I'd just deposit some fiat into your USD wallet so you can move quickly according to the news. Folks still making moves with alts. Lots of stuff on sale now and pumping in the alt world. Patience is the key and making quick moves off news is also key.

 

[Gods_Debris]

Currently, it seems like it. We knew Oct/Nov was coming, but most folks in the game were hype for Aug/Sept after the fork issue in July. China FUD is causing a downturn during what would have been a month that we'd have passed $200 billion marketcap. Good news can come out of places like Japan, Europe, Korea, Russia, and the U.S. to offset China fuckery, but that fork issue still is there for November.

If you fuck with coinbase, I'd just deposit some fiat into your USD wallet so you can move quickly according to the news. Folks still making moves with alts. Lots of stuff on sale now and pumping in the alt world. Patience is the key and making quick moves off news is also key.

I'm going to try out the method somebody mentioned, I can't remember who it was, of moving BTC around as another coin for speed and to avoid network fees.

 

[gene cisco]

I'm going to try out the method somebody mentioned, I can't remember who it was, of moving BTC around as another coin for speed and to avoid network fees.

Yeah, folks been turning BTC into LTC or ETH to move it quickly. So someone can have their money on coinbase(the devil) and just buy LTC or ETh and transfer to bittrex to make a quick move. Waiting for btc confirmations can make you mad as hell.

 

[Gods_Debris]

Yeah, folks been turning BTC into LTC or ETH to move it quickly. So someone can have their money on coinbase(the devil) and just buy LTC or ETh and transfer to bittrex to make a quick move. Waiting for btc confirmations can make you mad as hell.

They are minting money though, the bastards.

 

[thismybgolname]

Shit is being built on top of Ethereum. Things that don't have shit to do with money transfer are being built on Ethereum.

When you say it's built on Ethereum what exactly do you mean?

Is it using Ethereum as a reserve (lack of a better word) currency?

Now how you split that profit through BTC, Fiat, and any alt coins you really believe in is on you. You really have to dig deeper into blockchain. There are alts that are solving the problems you are worried about. Key is to get in them early.

Can you expound on this?

 

[gene cisco]

When you say it's built on Ethereum what exactly do you mean?

Is it using Ethereum as a reserve (lack of a better word) currency?



Can you expound on this?

I mean there are erc-20 tokens. They run on the ethereum blockchain. It's just like there are token that are built to run on NEO and Qtum(even though they have to use eth VM until x86 comes out).

Digging deeper means looking for blockchains that solve problems and actually have some development going on. Some are just promises and what will happen in 2020 or some shit. By that time, some of the projects that actually have development now will be running things. Also, corps have their own projects.

 

[IMDATDUDE]

I've personally made dudes on here hundreds of thousands of real dollars that they could buy anything they want to now.
and a few cats millionaires.

Shit Bill I got 1k I'm willing to lose you just teaching them or would you be a robo type advisor for me for a fee?