BTC Mavens - GoFuckYourself.com

ruff · 03-08-2017, 12:06 PM

A possible buy opportunity is presenting itself in Bitcoin. After a huge run-up there is a slow correction to be taken advantage of before the 11th. If Winklevoss ETF is approved then, BTC will take off again.
You're welcome.

jscott · 03-08-2017, 11:08 PM

Ruff do you think it'll be approved? From what I've read so far, it's got a 38%'ish of passing, based on some experts opinions.

I know you're a total maven with it, so I'd like to know your opinion on the passing/failing approval. ;)

ruff · 03-08-2017, 11:25 PM

Quote:

Originally Posted by jscott

Ruff do you think it'll be approved? From what I've read so far, it's got a 38%'ish of passing, based on some experts opinions.

I know you're a total maven with it, so I'd like to know your opinion on the passing/failing approval. ;)

I think it will be approved, but I have no strong basis for my opinion. I read what others think and the percentage of people thinking it will pass has moved from 38% to roughly 50% now. I think the government is wanting to regulate BTC but they have not figured out how to do it. Investors see it as something with intrinsic value based on a worldwide demand for a finite resource. Essentially it's value to people is the same as gold. If it is approved though, it will legitimize BTC and it will go to the moon.

Barry-xlovecam · 03-08-2017, 11:36 PM

"If it is approved though, it will legitimize BTC and it will go to the moon"

Legitimize may be the reason it is turned down.

jscott · 03-08-2017, 11:52 PM

well luckily, whether its appr or denied, there will always be demand and bright future ahead.

tbh i think approval would lead to short term huge gain.. but not that great for the long term of Btc since it was founded on the basis of being decentralized and not "belonging" to anyone but the people

ruff · 03-09-2017, 12:37 AM

Quote:

Originally Posted by jscott

well luckily, whether its appr or denied, there will always be demand and bright future ahead.

tbh i think approval would lead to short term huge gain.. but not that great for the long term of Btc since it was founded on the basis of being decentralized and not "belonging" to anyone but the people

The thing about BTC is it is not the best coin for commerce. Transactions are slow. There are others like Dash or Monero that may end up being better. There will only be a certain amount of BTC and that increases it's value for holding and investment. The up and down price does not lend itself to spending. It's the blockchain that contains the value. If the Winklevoss ETF passes, it not only legitimizes BTC, but digital coins in general. That's the gamechanger.

Something else, various banks are looking to start their own coin. A Swiss bank starting a coin could add serious legitimacy and attract mass interest. There will be shake outs and turmoil in the digital world. Perfect for speculating and making bank. It does not take much money to play this market. It's wide open and just like the wild west.

ruff · 03-09-2017, 12:38 AM

Quote:

Originally Posted by Barry-xlovecam

"If it is approved though, it will legitimize BTC and it will go to the moon"

Legitimize may be the reason it is turned down.

You could well be right about that.

Barry-xlovecam · 03-09-2017, 10:14 AM

Bitcoin Is NOT The New Gold

Quote:

In arguing for Bitcoin?s allure, enthusiasts tend to fall back on one singular point; like real Gold, there is but a finite number of Bitcoin that could be mined (21 million to be exact). But that is hardly the case. Bitcoin?s allure is not a factor of its rarity, but rather its ecosystem. That ecosystem enables financial transactions between two parties, both anonymously, and at very low costs. The fact is that that ecosystem could be easily replicated with an alternative to Bitcoin. So, while the number of Bitcoins we can mine is limited, the amount of alternative ecosystems that could emerge for Bitcoin wannabes is not. In fact, even today, there are already 12 different alternatives to Bitcoin, including Litecoin, Peercoin and Primecoin.

Bitcoin and other digital coins are a real threat to the payment processing and banking industry if they ever catch on. Currencies are a medium of exchange and not a long term storage of wealth. If you held the US dollar with no interest since 1960 that same dollar is worth less than $0.22

jscott · 03-09-2017, 10:33 AM

I love it! decentralized.... this excites the fuck outta me

:

ruff · 03-09-2017, 10:58 AM

Quote:

Originally Posted by Barry-xlovecam

Bitcoin Is NOT The New Gold

Bitcoin and other digital coins are a real threat to the payment processing and banking industry if they ever catch on. Currencies are a medium of exchange and not a long term storage of wealth. If you held the US dollar with no interest since 1960 that same dollar is worth less than $0.22

The government can print all the money it wants whenever it wants. It also can control the distribution and taxation. Currency is tangible, digital is not. The government determines the value of the dollar artificially or not. People determine the value of a digital coin.

Decentralization is the real threat.

Joshua G · 03-09-2017, 11:22 AM

amateur thread. im sure the communist chinese government is going to sit there & keep watching wealth leave the country via BTC.

what could they possibly do to an "investment" that comprises nothing more than hackable code...

i have no idea! its not like fake data, fake exchanges or a severe corruption of the block chain will have no effect on BTC perception as a value instrument.

im sure the genius OP has thought all this out. or his bitcoin propaganda told him all is well, nothing to worry about!

smart speculators sell when it went up 500%, not buy more. duh. but OP will have to learn the hard way.

jscott · 03-09-2017, 12:09 PM

lets hack bitcoin then... its easy as pie lol

"Bitcoin is not vulnerable to Quantum computer attacks, Andreas Antonopoulos has confirmed.

Speaking in ahaQ&A session, thehacelebrated commentatorhaexplained how Bitcoin?s hashes are resistant to quantum algorithms, making it all but impossible to infiltrate it with current technology.

?We don?t have very good algorithms for breaking hashes with quantum computing,? he said.

Responding to a question regarding whether the US National Security Agency, hereinafter NSA, had the quantum technology to crack Bitcoin, Antonopoulos simply replied, ?yes,? but that they wouldn?t use it for that purpose.

?It is certain that the NSA has already built quantum computers. Google has one in their data center, and if they have one, the NSA has one that?s ten times better,? he continued.

?...Do they use that to break Bitcoin? The simple answer is ?no.??

Antonopoulos drew an example from World War Two when having cracked Enigma, British scientists deliberately continued to let ships sink in order to protect the secret.

Once the secret was out, the enemy would upgrade its technology - and proving Bitcoin could be cracked would lead to modern-day intelligence developing quantum-resistant cryptography.

He added ironically:

?You just blew all your research and advances in that technology on fighting a shitty little currency that some weirdos use in Prague.?"

03-08-2017, 12:06 PM	#1
ruff I have a plan B Industry Role: Join Date: Aug 2004 Location: Seattle - Miami - St Kitts Posts: 5,501	BTC Mavens A possible buy opportunity is presenting itself in Bitcoin. After a huge run-up there is a slow correction to be taken advantage of before the 11th. If Winklevoss ETF is approved then, BTC will take off again. You're welcome. __________________ CryptoFeeds

03-08-2017, 11:08 PM	#2
jscott So Fucking Banned Industry Role: Join Date: Feb 2001 Location: Taipei Posts: 25,198	Ruff do you think it'll be approved? From what I've read so far, it's got a 38%'ish of passing, based on some experts opinions. I know you're a total maven with it, so I'd like to know your opinion on the passing/failing approval. ;)

03-08-2017, 11:36 PM	#4
Barry-xlovecam It's 42 Industry Role: Join Date: Jun 2010 Location: Global Posts: 18,083	"If it is approved though, it will legitimize BTC and it will go to the moon" Legitimize may be the reason it is turned down.

03-08-2017, 11:52 PM	#5
jscott So Fucking Banned Industry Role: Join Date: Feb 2001 Location: Taipei Posts: 25,198	well luckily, whether its appr or denied, there will always be demand and bright future ahead. tbh i think approval would lead to short term huge gain.. but not that great for the long term of Btc since it was founded on the basis of being decentralized and not "belonging" to anyone but the people

03-09-2017, 10:33 AM	#9
jscott So Fucking Banned Industry Role: Join Date: Feb 2001 Location: Taipei Posts: 25,198	I love it! decentralized.... this excites the fuck outta me :

03-09-2017, 11:22 AM	#11
Joshua G dumb libs love censorship Industry Role: Join Date: Jul 2008 Posts: 8,198	amateur thread. im sure the communist chinese government is going to sit there & keep watching wealth leave the country via BTC. what could they possibly do to an "investment" that comprises nothing more than hackable code... i have no idea! its not like fake data, fake exchanges or a severe corruption of the block chain will have no effect on BTC perception as a value instrument. im sure the genius OP has thought all this out. or his bitcoin propaganda told him all is well, nothing to worry about! smart speculators sell when it went up 500%, not buy more. duh. but OP will have to learn the hard way.

03-09-2017, 12:09 PM	#12
jscott So Fucking Banned Industry Role: Join Date: Feb 2001 Location: Taipei Posts: 25,198	lets hack bitcoin then... its easy as pie lol "Bitcoin is not vulnerable to Quantum computer attacks, Andreas Antonopoulos has confirmed. Speaking in ahaQ&A session, thehacelebrated commentatorhaexplained how Bitcoin?s hashes are resistant to quantum algorithms, making it all but impossible to infiltrate it with current technology. ?We don?t have very good algorithms for breaking hashes with quantum computing,? he said. Responding to a question regarding whether the US National Security Agency, hereinafter NSA, had the quantum technology to crack Bitcoin, Antonopoulos simply replied, ?yes,? but that they wouldn?t use it for that purpose. ?It is certain that the NSA has already built quantum computers. Google has one in their data center, and if they have one, the NSA has one that?s ten times better,? he continued. ?...Do they use that to break Bitcoin? The simple answer is ?no.?? Antonopoulos drew an example from World War Two when having cracked Enigma, British scientists deliberately continued to let ships sink in order to protect the secret. Once the secret was out, the enemy would upgrade its technology - and proving Bitcoin could be cracked would lead to modern-day intelligence developing quantum-resistant cryptography. He added ironically: ?You just blew all your research and advances in that technology on fighting a shitty little currency that some weirdos use in Prague.?"