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pimpmaster9000 03-30-2018 04:09 PM
Quote:
Originally Posted by InfoGuy (Post 22246355)
While Bitcoin may be capped at 21 million coins, there's currently about 15,000 other coins and likely many more coming in the future, so we can both agree that the world of cryptocurrencies is not finite by any means. It's like the domain industry. There's a finite quantity of quality .com domains, but there are now over a thousand different competing extensions, so essentially an unlimited supply for the alternative non-.com domains.

The value of money comes from people knowing and trusting that someone else will accept the value of that money. Do you think most merchants would accept any of the cryptocurrencies that are not among the top 10?
90% of all BTC coins are owned by 0.6% of the wallets
98% of all BTC coins are owned by 3% of all wallets...

the same is true for other currencies...they are not decentralized in any way...from mining to ownership, they are controlled by a small few...and this makes them shit for storing value...you are practically gifting your money to the 1%...you put fiat in they take fiat out you are left with an empty bag...but its great for trading :2 cents::2 cents:

klinton 03-30-2018 04:17 PM
Quote:
Originally Posted by crucifissio (Post 22246358)
.but its great for trading :2 cents::2 cents:
what platform u use for day trading activities ?

pimpmaster9000 03-30-2018 04:23 PM
Quote:
Originally Posted by klinton (Post 22246359)
what platform u use for day trading activities ?
I like binance...low low fees and liquid...good for nice quick trades...0.015% per transaction...

The Porn Nerd 03-30-2018 06:54 PM
Quote:
Originally Posted by crucifissio (Post 22246358)
90% of all BTC coins are owned by 0.6% of the wallets
98% of all BTC coins are owned by 3% of all wallets...

the same is true for other currencies...they are not decentralized in any way...from mining to ownership, they are controlled by a small few...and this makes them shit for storing value...you are practically gifting your money to the 1%...you put fiat in they take fiat out you are left with an empty bag...but its great for trading :2 cents::2 cents:
But what about Trickle Down Economics? I thought that worked?

You know, when the 1%'s pockets over flow with wealth and the little guys get to catch whatever spills out.

jscott 03-31-2018 01:08 AM
Quote:
Originally Posted by InfoGuy (Post 22246355)
While Bitcoin may be capped at 21 million coins, there's currently about 15,000 other coins and likely many more coming in the future, so we can both agree that the world of cryptocurrencies is not finite by any means. It's like the domain industry. There's a finite quantity of quality .com domains, but there are now over a thousand different competing extensions, so essentially an unlimited supply for the alternative non-.com domains.

The value of money comes from people knowing and trusting that someone else will accept the value of that money. Do you think most merchants would accept any of the cryptocurrencies that are not among the top 10?
Bitcoin is finite. If you're talking about 15,000 other coins (in actuality I think you mean 1,500 other coins) these are not bitcoin. These are what we call (mostly) shitcoins. When we are talking about bitcoin being finite to only 21mil we are talking about only that. Most of the rest can and will probably die off eventually.

Quote:
Originally Posted by crucifissio (Post 22246358)
90% of all BTC coins are owned by 0.6% of the wallets
98% of all BTC coins are owned by 3% of all wallets...
the same is true for other currencies...they are not decentralized in any way...from mining to ownership, they are controlled by a small few...and this makes them shit for storing value...you are practically gifting your money to the 1%...you put fiat in they take fiat out you are left with an empty bag...but its great for trading :2 cents::2 cents:
wait, so all this time i've been gifting my money to people? but wait, how have i been profiting for all these years?

Quote:
Originally Posted by klinton (Post 22246359)
what platform u use for day trading activities ?
Binance & Bitfinex are the best

pimpmaster9000 03-31-2018 01:51 AM
Quote:
Originally Posted by jscott (Post 22246507)

wait, so all this time i've been gifting my money to people? but wait, how have i been profiting for all these years?
you have been making money on the 2% of all bitcoins that do not belong to the whales...2% of the coins are what you are all investing in if you are hodl-ers...pumping up the value of the whale coins...I do not have much long term faith in such a setup...

but its great for trading...

jscott 03-31-2018 02:16 AM
Quote:
Originally Posted by crucifissio (Post 22246517)
you have been making money on the 2% of all bitcoins that do not belong to the whales...2% of the coins are what you are all investing in if you are hodl-ers...pumping up the value of the whale coins...I do not have much long term faith in such a setup...

but its great for trading...
You cant believe everything you read

Also, for your so-called whales to make money, they need to sell top and buy back bottom, this is a strategy that anyone can join in on profiting from. It's not magic. The prices and orders get filled the same as the rest.

pimpmaster9000 03-31-2018 02:23 AM
Quote:
Originally Posted by jscott (Post 22246524)
You cant believe everything you read

Also, for your so-called whales to make money, they need to sell top and buy back bottom, this is a strategy that anyone can join in on profiting from. It's not magic. The prices and orders get filled the same as the rest.
it is on the blockchain, everybody can see:

https://bitinfocharts.com/top-100-ri...addresses.html

jscott 03-31-2018 04:34 AM
Quote:
Originally Posted by crucifissio (Post 22246525)
it is on the blockchain, everybody can see:

https://bitinfocharts.com/top-100-ri...addresses.html
Does owning a lot of bitcoin or a little change the way a BTC can be traded?

Sure those whales have advantage over everyone. But the mechanics of bitcoin is the same for everyone

jscott 03-31-2018 04:39 AM
laymans terms:

give a baseball team all the allstars

surely they have advantage and should win every game

but the rules of baseball still apply

overdose 03-31-2018 05:32 AM
I've invested like beermoney amounts into potential projects, bought high amounts at laughably cheap prices... I don't give a fuck where they go I don't even remember how much I put in... but if they ever hit only a few bucks in value I can retire myelf... x) concept sounds good enough to me to not whine about shit

pimpmaster9000 03-31-2018 05:40 AM
Quote:
Originally Posted by jscott (Post 22246546)
Does owning a lot of bitcoin or a little change the way a BTC can be traded?

Sure those whales have advantage over everyone. But the mechanics of bitcoin is the same for everyone
it does not affect the mechanics of the system in any way...whether bitcoin crashes or skyrockets the mechanics stay active...

the problem is you do not know who those 0.6% are who hold 90% of the coins...you do not know how cheap/expensive they got those coins and you do not know whether they will decide to dump the living fuck out of them if they decide bitcoin is a threat to them...they own 14million coins...dumping just 500.000 would cause a total destruction of the system...

they have the "off" switch to peoples trust in bitcoin...the system will be fine, you will still be able to transact, but bitcoin may be worth 10cents...

klinton 03-31-2018 05:58 AM
Quote:
Originally Posted by crucifissio (Post 22246565)
they have the "off" switch to peoples trust in bitcoin...the system will be fine, you will still be able to transact, but bitcoin may be worth 10cents...
as far I understand the link that u posted, it says that most of the BTC are stored in cold wallets of EXCHANGERS. so its not like some elite owns 95 % of it...

but maybe Im wrong...

jscott 03-31-2018 06:26 AM
klinton you are correct. but a certain type of person likes to arrange that information in a FUDstyle way

pimpmaster9000 03-31-2018 06:27 AM
Quote:
Originally Posted by klinton (Post 22246568)
as far I understand the link that u posted, it says that most of the BTC are stored in cold wallets of EXCHANGERS. so its not like some elite owns 95 % of it...

but maybe Im wrong...
2% total...only the top 2 wallets on that list are bitfinex (a story for itself) and bittrex...the rest are anon...now out of the 2% total of all coins that the those wallets hold, how many of those coins belong to whales?...

having a popular exchange is a great way to earn bitcoin...the margin accounts get destroyed by flash crashes that the exchangers themselves create...then wash trading and/or printing tether out of thin air is a super easy way to activate stop losses and then move it with "printed out of thin air" coins and bank from flash crashes...keep in mind there is NO regulation in this market...it is 100% legal...

Quote:
Originally Posted by jscott (Post 22246568)
klinton you are correct. but a certain type of person likes to arrange that information in a FUDstyle way
read the chart...its all there...

http://i67.tinypic.com/2v16grd.png


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