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Amen | r/bitcoin | Amen | r/Bitcoin | 2024-27-05 |
How does time in the market benefit you if it's at the same price a year later. And you could have bought at a dip | r/bitcoin | How does time in the market benefit you if it's at the same price a year later. And you could have bought at a dip | r/Bitcoin | 2024-27-05 |
I'm not stupid enough to think I'm smart enough to time the market.
If you don't understand that, I don't know what to tell you. | r/bitcoin | I'm not stupid enough to think I'm smart enough to time the market.
If you don't understand that, I don't know what to tell you. | r/Bitcoin | 2024-27-05 |
How magny bitcoins you have? | r/bitcoin | How magny bitcoins you have? | r/Bitcoin | 2024-27-05 |
fourteen years on, I bought two pizza pies with the FIAT equivalent of 0.0006 BTC
https://preview.redd.it/xgonjmrn5z1d1.jpg?width=645&format=pjpg&auto=webp&s=191c6bc71183a5627bf0fb272de9b73b8c272ace
| r/bitcoin | fourteen years on, I bought two pizza pies with the FIAT equivalent of 0.0006 BTC
https://preview.redd.it/xgonjmrn5z1d1.jpg?width=645&format=pjpg&auto=webp&s=191c6bc71183a5627bf0fb272de9b73b8c272ace
| r/Bitcoin | 2024-22-05 |
r/bitcoin | r/Bitcoin | 2024-22-05 |
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So tempted to buy | r/bitcoin | So tempted to buy | r/Bitcoin | 2024-22-05 |
probably nothing... | r/bitcoin | probably nothing... | r/Bitcoin | 2024-22-05 |
looks like a pump and dump | r/bitcoin | looks like a pump and dump | r/Bitcoin | 2024-22-05 |
Why did they fall so much? Splits? Bad investment? The “big fall” was around 2004, they should have gone bankrupt by now if it was truly 99% down | r/bitcoin | Why did they fall so much? Splits? Bad investment? The “big fall” was around 2004, they should have gone bankrupt by now if it was truly 99% down | r/Bitcoin | 2024-22-05 |
They’re a meme stock essentially. 90 Yen is a literal penny stock. | r/bitcoin | They’re a meme stock essentially. 90 Yen is a literal penny stock. | r/Bitcoin | 2024-22-05 |
Got it. Thanks ❤️ | r/bitcoin | Got it. Thanks ❤️ | r/Bitcoin | 2024-22-05 |
It’s going to be a trend, for a company, to habe Bitcoin in their balance sheet.
It’s just a matter of time! | r/bitcoin | It’s going to be a trend, for a company, to habe Bitcoin in their balance sheet.
It’s just a matter of time! | r/Bitcoin | 2024-22-05 |
What are the options in Japan for tax advantaged investment in Bitcoin? Do they have ETFs available like in the US? If not, this may be what you're seeing with this stock. Interested parties getting in on a domestic investment that they can benefit from twofold - taxation, and Bitcoin exposure. | r/bitcoin | What are the options in Japan for tax advantaged investment in Bitcoin? Do they have ETFs available like in the US? If not, this may be what you're seeing with this stock. Interested parties getting in on a domestic investment that they can benefit from twofold - taxation, and Bitcoin exposure. | r/Bitcoin | 2024-22-05 |
Same, I'm calling my advisor tomorrow to see if I can buy JPY companies. | r/bitcoin | Same, I'm calling my advisor tomorrow to see if I can buy JPY companies. | r/Bitcoin | 2024-23-05 |
No ETFs available, including US ones.
MSTR is available. It can be purchased in a NISA tax-free personal investment account, but there's a limit of ~$10,000 a year in purchases. Any gains in a regular taxed account incur a ~20% capital gains tax based on the sale price. IMO, it's probably the best option from a tax perspective (but it's not self custody).
Metaplanet can also be bought for a NISA, but imo it's not a bitcoin play, it's a penny stock pump and dump. They hold ~120 bitcoin, but have a market cap (as of the OP) of ~USD $100 million. Sure, they have some real estate too, but that was priced in before the jump. So you're paying a ~10x premium for the bitcoin. You'd be better to self custody, if you just want bitcoin exposure.
Self custody as an individual is taxed as miscellaneous income when you sell, with a maximum tax rate of ~55%. There's been talk about changing it, so if you hold long enough maybe it'll drop to match the 20% capital gains tax? But it's a gamble.
Self custody as a *company* requires you to pay ~30% company tax each year on *unrealized gains*, basically requiring you to sell part of your stack each year to pay the tax bill. The more bitcoin goes up, the more you have to sell.
The rules changed a month ago and I'm still not 100% clear on the change, but it seems like as a company, if you ask an institution to custody your coins, and also have them "lock" your account so that you're unable to sell for a year, and also ask them to publish this fact to one of the national regulators, then you can avoid the tax on unrealized gains – my assumption is that this is what made Metaplanet even in the realm of possibility.
In reality though, there no good options... but most of them are still better than holding yen in a savings account. | r/bitcoin | No ETFs available, including US ones.
MSTR is available. It can be purchased in a NISA tax-free personal investment account, but there's a limit of ~$10,000 a year in purchases. Any gains in a regular taxed account incur a ~20% capital gains tax based on the sale price. IMO, it's probably the best option from a tax perspective (but it's not self custody).
Metaplanet can also be bought for a NISA, but imo it's not a bitcoin play, it's a penny stock pump and dump. They hold ~120 bitcoin, but have a market cap (as of the OP) of ~USD $100 million. Sure, they have some real estate too, but that was priced in before the jump. So you're paying a ~10x premium for the bitcoin. You'd be better to self custody, if you just want bitcoin exposure.
Self custody as an individual is taxed as miscellaneous income when you sell, with a maximum tax rate of ~55%. There's been talk about changing it, so if you hold long enough maybe it'll drop to match the 20% capital gains tax? But it's a gamble.
Self custody as a *company* requires you to pay ~30% company tax each year on *unrealized gains*, basically requiring you to sell part of your stack each year to pay the tax bill. The more bitcoin goes up, the more you have to sell.
The rules changed a month ago and I'm still not 100% clear on the change, but it seems like as a company, if you ask an institution to custody your coins, and also have them "lock" your account so that you're unable to sell for a year, and also ask them to publish this fact to one of the national regulators, then you can avoid the tax on unrealized gains – my assumption is that this is what made Metaplanet even in the realm of possibility.
In reality though, there no good options... but most of them are still better than holding yen in a savings account. | r/Bitcoin | 2024-23-05 |
Thanks for the info. It's unrelated but I'm curious. How does the tax authority handle unrealized losses? Future offsets? Refunds? | r/bitcoin | Thanks for the info. It's unrelated but I'm curious. How does the tax authority handle unrealized losses? Future offsets? Refunds? | r/Bitcoin | 2024-23-05 |
I wonder what would have happened if Tesla kept the 30,000 bitcoins they sold in 2021 and 2022. | r/bitcoin | I wonder what would have happened if Tesla kept the 30,000 bitcoins they sold in 2021 and 2022. | r/Bitcoin | 2024-23-05 |
For the record, I Am Not A Tax Accountant, but I *assume* you could offset them from other income. They may also carry through to future years if you're set up correctly.
But in all seriousness, if you're at all considering buying bitcoin in the name of a Japanese corporate, you need to ask a registered Tax Accountant, not some random on the internet :) | r/bitcoin | For the record, I Am Not A Tax Accountant, but I *assume* you could offset them from other income. They may also carry through to future years if you're set up correctly.
But in all seriousness, if you're at all considering buying bitcoin in the name of a Japanese corporate, you need to ask a registered Tax Accountant, not some random on the internet :) | r/Bitcoin | 2024-23-05 |
Anyone know of any good deals this pizza season? | r/bitcoin | Anyone know of any good deals this pizza season? | r/Bitcoin | 2024-22-05 |
That’s 5000 pizzas give or take where I live. Pizzas for life | r/bitcoin | That’s 5000 pizzas give or take where I live. Pizzas for life | r/Bitcoin | 2024-22-05 |
r/bitcoin | r/Bitcoin | 2024-22-05 |
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It didn’t seem like people understood where I was coming from when I made this post 2 years age (https://www.reddit.com/r/Bitcoin/s/gdalPsJTih).
RFK Jr. all day!! | r/bitcoin | It didn’t seem like people understood where I was coming from when I made this post 2 years age (https://www.reddit.com/r/Bitcoin/s/gdalPsJTih).
RFK Jr. all day!! | r/Bitcoin | 2024-22-05 |
r/bitcoin | r/Bitcoin | 2024-22-05 |
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Acid coin to the moon | r/bitcoin | Acid coin to the moon | r/Bitcoin | 2024-23-05 |
r/bitcoin | r/Bitcoin | 2024-22-05 |
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This means nothing. What they are saying/promising is way different from what they will do. | r/bitcoin | This means nothing. What they are saying/promising is way different from what they will do. | r/Bitcoin | 2024-22-05 |
Ohhhh they just want to protect consumers you guys! Im so glad my government always has my best interest at heart! | r/bitcoin | Ohhhh they just want to protect consumers you guys! Im so glad my government always has my best interest at heart! | r/Bitcoin | 2024-22-05 |
Booooo! | r/bitcoin | Booooo! | r/Bitcoin | 2024-22-05 |
[https://youtu.be/nCedOQJ0ZEA?si=JEvZ4dORwC5Z1ht7](https://youtu.be/nCedOQJ0ZEA?si=JEvZ4dORwC5Z1ht7) | r/bitcoin | [https://youtu.be/nCedOQJ0ZEA?si=JEvZ4dORwC5Z1ht7](https://youtu.be/nCedOQJ0ZEA?si=JEvZ4dORwC5Z1ht7) | r/Bitcoin | 2024-22-05 |
Hey, it’s a start at least | r/bitcoin | Hey, it’s a start at least | r/Bitcoin | 2024-22-05 |
Although you are correct. Anything that makes attaining Bitcoin more difficult for users will have a negative impact on the value Bitcoin has as an asset, not necessarily monetary value. I think many people here would want Bitcoin to be used by more people so any threat to that to make it more difficult would be an issue.
Of course tik tok next block, but for the average joes sake, hope access to exchanges, wallets, etc is made harder | r/bitcoin | Although you are correct. Anything that makes attaining Bitcoin more difficult for users will have a negative impact on the value Bitcoin has as an asset, not necessarily monetary value. I think many people here would want Bitcoin to be used by more people so any threat to that to make it more difficult would be an issue.
Of course tik tok next block, but for the average joes sake, hope access to exchanges, wallets, etc is made harder | r/Bitcoin | 2024-22-05 |
2% to protect crypto... 98% overseas... we know how this works | r/bitcoin | 2% to protect crypto... 98% overseas... we know how this works | r/Bitcoin | 2024-22-05 |
"Balanced." My ass | r/bitcoin | "Balanced." My ass | r/Bitcoin | 2024-22-05 |
"Never heard of them. Which shitcoin are they pimping?" - Bitcoin CEO | r/bitcoin | "Never heard of them. Which shitcoin are they pimping?" - Bitcoin CEO | r/Bitcoin | 2024-22-05 |
Not good | r/bitcoin | Not good | r/Bitcoin | 2024-22-05 |
This is awesome | r/bitcoin | This is awesome | r/Bitcoin | 2024-22-05 |
Thanks for sharing | r/bitcoin | Thanks for sharing | r/Bitcoin | 2024-22-05 |
Very very noob question, but cant you just hack the clock to speed up the time basically speeding it up to farm a block every second? | r/bitcoin | Very very noob question, but cant you just hack the clock to speed up the time basically speeding it up to farm a block every second? | r/Bitcoin | 2024-22-05 |
Might wanna read some other comments.. | r/bitcoin | Might wanna read some other comments.. | r/Bitcoin | 2024-22-05 |
So let's look at it from the perspective of a single node (server but not a miner if you will) on the network. Let's say this node receives enough valid blocks and the time between as far as the node reckons with its own clock is 5 minutes. Great, after a certain time our node inquestion says to its self 'the blocks need a higher difficulty!! Their coming in to fast!' So now our node will reject blocks that don't have the requisite higher difficulty. Now we have thousands of these nodes all talking to each other and changing this information and if enough modes agree with what is going on, then the network as a whole had made a decision about it. If just our one node for example is out there trying to adjust the difficulty but thr rest of the the network doesn't agree, then that node is essentially 'cut off' from the network untill it behaves.
This is a very oversimplified version in the extreme but illustrates the basic idea of the bitcoin networks consensus mechanisms. | r/bitcoin | So let's look at it from the perspective of a single node (server but not a miner if you will) on the network. Let's say this node receives enough valid blocks and the time between as far as the node reckons with its own clock is 5 minutes. Great, after a certain time our node inquestion says to its self 'the blocks need a higher difficulty!! Their coming in to fast!' So now our node will reject blocks that don't have the requisite higher difficulty. Now we have thousands of these nodes all talking to each other and changing this information and if enough modes agree with what is going on, then the network as a whole had made a decision about it. If just our one node for example is out there trying to adjust the difficulty but thr rest of the the network doesn't agree, then that node is essentially 'cut off' from the network untill it behaves.
This is a very oversimplified version in the extreme but illustrates the basic idea of the bitcoin networks consensus mechanisms. | r/Bitcoin | 2024-22-05 |
Also, you're far from stupid. Most here have had the luxury of learning Bitcoin over several years. If someone writes you a scathing response know that there's better people to learn from. | r/bitcoin | Also, you're far from stupid. Most here have had the luxury of learning Bitcoin over several years. If someone writes you a scathing response know that there's better people to learn from. | r/Bitcoin | 2024-22-05 |
I did read all the comments. You're just not listening to what people keep trying to tell you. Trying to speed up your computer's clock doesn't do anything to the Bitcoin network. | r/bitcoin | I did read all the comments. You're just not listening to what people keep trying to tell you. Trying to speed up your computer's clock doesn't do anything to the Bitcoin network. | r/Bitcoin | 2024-22-05 |
I did. and i got the answers i was looking for. Youre still just misunderstanding what it is i was asking for.. | r/bitcoin | I did. and i got the answers i was looking for. Youre still just misunderstanding what it is i was asking for.. | r/Bitcoin | 2024-22-05 |
if your timestamp is about 2 hours in the future, you block is not valid. | r/bitcoin | if your timestamp is about 2 hours in the future, you block is not valid. | r/Bitcoin | 2024-22-05 |
In the same way that if you are a challenger league of legends player playing in the worst rank with honest true skill being expressed, you will eventually be forced to play vs harder opponents of similar skill, bitcoin will say:
1. This is a hard ass problem no shortcuts exist for, good luck solving it.
2. oh you have enough computation to do it better now? bet here's a harder one. somebody somewhere is very likely to solve this in 10 minutes.
or
1. oh you suck at this, here's an easier problem ->
2. bet, now it takes 10 minutes again. | r/bitcoin | In the same way that if you are a challenger league of legends player playing in the worst rank with honest true skill being expressed, you will eventually be forced to play vs harder opponents of similar skill, bitcoin will say:
1. This is a hard ass problem no shortcuts exist for, good luck solving it.
2. oh you have enough computation to do it better now? bet here's a harder one. somebody somewhere is very likely to solve this in 10 minutes.
or
1. oh you suck at this, here's an easier problem ->
2. bet, now it takes 10 minutes again. | r/Bitcoin | 2024-22-05 |
The difficulty is adjusted every 2016 blocks (around 2 weeks), not every block. | r/bitcoin | The difficulty is adjusted every 2016 blocks (around 2 weeks), not every block. | r/Bitcoin | 2024-22-05 |
The difficulty doesn't come from the math equation. It's comes from the fact they hash through the sha-256 algorithm and therefore don't know the outcome of the equation.
Miners construct a new block by collecting transactions from the mempool and creating a block header containing data like the previous block hash, merkle root, timestamp, and a nonce (initially set to 0).
This block is then hashed using the SHA-256 hashing algorithm, giving a seemingly random output. This output has to be lower than the target output set out by the btc network. If it isn't, the miners will increase the nonce by 1 and run the algorithm again.
The processing power usage comes from trying to perform this algorithm as fast as possible and as many times as possible so they can find the answer first. Due to the SHA-256 randomness, it's essentially a lucky dip each time. The more go's, the more likely the miner will be successful. | r/bitcoin | The difficulty doesn't come from the math equation. It's comes from the fact they hash through the sha-256 algorithm and therefore don't know the outcome of the equation.
Miners construct a new block by collecting transactions from the mempool and creating a block header containing data like the previous block hash, merkle root, timestamp, and a nonce (initially set to 0).
This block is then hashed using the SHA-256 hashing algorithm, giving a seemingly random output. This output has to be lower than the target output set out by the btc network. If it isn't, the miners will increase the nonce by 1 and run the algorithm again.
The processing power usage comes from trying to perform this algorithm as fast as possible and as many times as possible so they can find the answer first. Due to the SHA-256 randomness, it's essentially a lucky dip each time. The more go's, the more likely the miner will be successful. | r/Bitcoin | 2024-22-05 |
New block can happen in 1 min or 60 min.. it depends but the average is 10 min due to the difficulty and hash rate | r/bitcoin | New block can happen in 1 min or 60 min.. it depends but the average is 10 min due to the difficulty and hash rate | r/Bitcoin | 2024-22-05 |
Cool. I think we did misunderstand each other, no worries.
Cheers! 🍻 | r/bitcoin | Cool. I think we did misunderstand each other, no worries.
Cheers! 🍻 | r/Bitcoin | 2024-22-05 |
This is the correct answer. | r/bitcoin | This is the correct answer. | r/Bitcoin | 2024-22-05 |
Not really solving. More like guessing random numbers | r/bitcoin | Not really solving. More like guessing random numbers | r/Bitcoin | 2024-22-05 |
It is a bug in Bitcoin protocol, yes. There are many bugs, some are rather harmless, some are more serious. The more serious ones are discussed in the Great Consensus Cleanup. | r/bitcoin | It is a bug in Bitcoin protocol, yes. There are many bugs, some are rather harmless, some are more serious. The more serious ones are discussed in the Great Consensus Cleanup. | r/Bitcoin | 2024-23-05 |
Epic bull run! | r/bitcoin | Epic bull run! | r/Bitcoin | 2024-22-05 |
Hi,
I've been running Umbrel on my ubuntu device for quite some time now, but they've decided to completely overhaul their product making it a separate OS. I have been using it so far with sparrow on the same device, and treated it as a financial hub that hasn't seen or touched weird links ^_^.
Now I will be forced to overwrite everything (if I have understood the changelogs correctly) and have umbrel-only device. I believe it's a serious downgrade. I will have to use sparrow from my main PC, which I don't trust. I venture here and there, if you know what I mean.
Any alternatives for running a node?
Thanks in advance | r/bitcoin | Hi,
I've been running Umbrel on my ubuntu device for quite some time now, but they've decided to completely overhaul their product making it a separate OS. I have been using it so far with sparrow on the same device, and treated it as a financial hub that hasn't seen or touched weird links ^_^.
Now I will be forced to overwrite everything (if I have understood the changelogs correctly) and have umbrel-only device. I believe it's a serious downgrade. I will have to use sparrow from my main PC, which I don't trust. I venture here and there, if you know what I mean.
Any alternatives for running a node?
Thanks in advance | r/Bitcoin | 2024-22-05 |
I don't know umbrel, sorry. Is it possible for you to download and just run bitcoin core on your clean pc. Sparrow auto detects it just the same as long as it's installed on the same pc. That way you've cut out the middleman too. Never understood why people used third-party node solutions when core works out the box on its own. | r/bitcoin | I don't know umbrel, sorry. Is it possible for you to download and just run bitcoin core on your clean pc. Sparrow auto detects it just the same as long as it's installed on the same pc. That way you've cut out the middleman too. Never understood why people used third-party node solutions when core works out the box on its own. | r/Bitcoin | 2024-22-05 |
Start9 for free. | r/bitcoin | Start9 for free. | r/Bitcoin | 2024-24-05 |
There's a cool bitcoin writing contest going on with $17,500 in prizes! You can write about thought leadership, dev tools, or tutorials. Submissions start on May 22 and end on November 22, 2024.
Thought some of you might be interested! 😊 | r/bitcoin | There's a cool bitcoin writing contest going on with $17,500 in prizes! You can write about thought leadership, dev tools, or tutorials. Submissions start on May 22 and end on November 22, 2024.
Thought some of you might be interested! 😊 | r/Bitcoin | 2024-22-05 |
mhhh where? | r/bitcoin | mhhh where? | r/Bitcoin | 2024-22-05 |
r/bitcoin | r/Bitcoin | 2024-22-05 |
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🤤🤤🤤 | r/bitcoin | 🤤🤤🤤 | r/Bitcoin | 2024-22-05 |
Imagine being him, surfing around and watching pizzas every year over and over again :( | r/bitcoin | Imagine being him, surfing around and watching pizzas every year over and over again :( | r/Bitcoin | 2024-22-05 |
Happy Bitcoin Day wow nice pizza | r/bitcoin | Happy Bitcoin Day wow nice pizza | r/Bitcoin | 2024-22-05 |
I have been sitting on this for a while, and wanted to share my thoughts. There are two key elements to this.
Every year the amount of people that buy Bitcoin weekly/monthly whilst never selling goes up every year. For example, It could be 1000 people DCA'ing $50 a month and because of the finite supply and scarcity of Bitcoin, this causes the price to increase on a long-term basis. Every year the finite supply is locked away by those who believe in the inevitable scenario of hyper-bitcoinalization. Over time, this has scaled to institutions, billion dollar companies and nation states such as MicroStrategy and El Salvador who are continuously buying Bitcoin without selling. This snowballing effect will ultimately result in Bitcoin becoming more valuable in $$$ terms regardless of what happens.
Secondly, the more people that become invested into Bitcoin whether thats directly or indirectly, will ultimately have a vested interest in protecting the asset and making sure it succeeds. From a psychosocial standpoint, Bitcoin scratches the itch of mankind's natural predisposition to greed, self-interest and self-preservation. The incentive structures are just perfect.
Watching this global game theory exercise is truly amazing. I genuinely believe that those who continue to buy Bitcoin over the next 10 years will put themselves in a far greater position than they otherwise would have been. Keep DCA'ing. | r/bitcoin | I have been sitting on this for a while, and wanted to share my thoughts. There are two key elements to this.
Every year the amount of people that buy Bitcoin weekly/monthly whilst never selling goes up every year. For example, It could be 1000 people DCA'ing $50 a month and because of the finite supply and scarcity of Bitcoin, this causes the price to increase on a long-term basis. Every year the finite supply is locked away by those who believe in the inevitable scenario of hyper-bitcoinalization. Over time, this has scaled to institutions, billion dollar companies and nation states such as MicroStrategy and El Salvador who are continuously buying Bitcoin without selling. This snowballing effect will ultimately result in Bitcoin becoming more valuable in $$$ terms regardless of what happens.
Secondly, the more people that become invested into Bitcoin whether thats directly or indirectly, will ultimately have a vested interest in protecting the asset and making sure it succeeds. From a psychosocial standpoint, Bitcoin scratches the itch of mankind's natural predisposition to greed, self-interest and self-preservation. The incentive structures are just perfect.
Watching this global game theory exercise is truly amazing. I genuinely believe that those who continue to buy Bitcoin over the next 10 years will put themselves in a far greater position than they otherwise would have been. Keep DCA'ing. | r/Bitcoin | 2024-22-05 |
Often misattributed to Abraham Lincoln. Good to see someone with a working knowledge of history up here. | r/bitcoin | Often misattributed to Abraham Lincoln. Good to see someone with a working knowledge of history up here. | r/Bitcoin | 2024-22-05 |
There we go. 7M in today’s usd is the range I’m looking for. But hoping your off by about 5M as I’m seeing 12M in todays usd in 10 years.
Until then, yawn. | r/bitcoin | There we go. 7M in today’s usd is the range I’m looking for. But hoping your off by about 5M as I’m seeing 12M in todays usd in 10 years.
Until then, yawn. | r/Bitcoin | 2024-22-05 |
You said real terms but you described nominal terms. I can personally see it 100xing in real terms with the discovery of artifical general intelligence and all the productivity gains that will arise from that. | r/bitcoin | You said real terms but you described nominal terms. I can personally see it 100xing in real terms with the discovery of artifical general intelligence and all the productivity gains that will arise from that. | r/Bitcoin | 2024-23-05 |
Yes dude yes lmao right wrong or indifferent it is a tech built on human nature | r/bitcoin | Yes dude yes lmao right wrong or indifferent it is a tech built on human nature | r/Bitcoin | 2024-23-05 |
The mental model I came to was a tumble dryer. It goes around and the coins tumble over and over (traders) until they get lodged in the hands of a hodler. I came to think about it that way from the early days when it was far more common for people to lose their coins, like how socks get eaten by a tumble dryer.
This and what OP said is what you might conclude by observing the system playing out, but it doesn't explain why hodlers exist. For that you need to understand why bitcoin is valuable at all. | r/bitcoin | The mental model I came to was a tumble dryer. It goes around and the coins tumble over and over (traders) until they get lodged in the hands of a hodler. I came to think about it that way from the early days when it was far more common for people to lose their coins, like how socks get eaten by a tumble dryer.
This and what OP said is what you might conclude by observing the system playing out, but it doesn't explain why hodlers exist. For that you need to understand why bitcoin is valuable at all. | r/Bitcoin | 2024-23-05 |
So you won’t judge me for putting in money when it’s 70k? 🤓 | r/bitcoin | So you won’t judge me for putting in money when it’s 70k? 🤓 | r/Bitcoin | 2024-23-05 |
The social movement of Bitcoin can't be stopped now. It is global and we will never stop supporting it. | r/bitcoin | The social movement of Bitcoin can't be stopped now. It is global and we will never stop supporting it. | r/Bitcoin | 2024-23-05 |
Like the runscape hats. Even those worlds have inflation don't they?
I wouldn't mind hearing more of what you know. | r/bitcoin | Like the runscape hats. Even those worlds have inflation don't they?
I wouldn't mind hearing more of what you know. | r/Bitcoin | 2024-12-06 |
Hey all, thinking about running a low-power miner at home for fun. Bitaxe is out of stock so I have been checkout out the NerdMiner V2. Anybody have any good/bad experiences or recommendations? | r/bitcoin | Hey all, thinking about running a low-power miner at home for fun. Bitaxe is out of stock so I have been checkout out the NerdMiner V2. Anybody have any good/bad experiences or recommendations? | r/Bitcoin | 2024-22-05 |
Bitaxe is in stock here:
https://altairtech.io/product/bitaxe/
This is my-go to company for home mining equipment. Excellent customer service | r/bitcoin | Bitaxe is in stock here:
https://altairtech.io/product/bitaxe/
This is my-go to company for home mining equipment. Excellent customer service | r/Bitcoin | 2024-22-05 |
Nice, I needed a reason to start lottery mining. | r/bitcoin | Nice, I needed a reason to start lottery mining. | r/Bitcoin | 2024-23-05 |
Is it taking hashrate from 2021? | r/bitcoin | Is it taking hashrate from 2021? | r/Bitcoin | 2024-23-05 |
Is the current hash rate today not 600M Thash? | r/bitcoin | Is the current hash rate today not 600M Thash? | r/Bitcoin | 2024-23-05 |
just buy that much in BTC then wait 15 years an pay off your mortgage. ggez | r/bitcoin | just buy that much in BTC then wait 15 years an pay off your mortgage. ggez | r/Bitcoin | 2024-23-05 |
r/bitcoin | r/Bitcoin | 2024-22-05 |
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The guys with wealth knows how wealth works | r/bitcoin | The guys with wealth knows how wealth works | r/Bitcoin | 2024-22-05 |
It’s our living standards falling whilst they inflate the money to zero. Bitcoin is the measuring stick | r/bitcoin | It’s our living standards falling whilst they inflate the money to zero. Bitcoin is the measuring stick | r/Bitcoin | 2024-22-05 |
I keep buying increments every week because of this thought. (I am not rich) | r/bitcoin | I keep buying increments every week because of this thought. (I am not rich) | r/Bitcoin | 2024-22-05 |
What you want (“as much BTC as possible to be in the hardest hands possible”) happens naturally over time. Every time hard-hands buy there is less available for weak-hands. | r/bitcoin | What you want (“as much BTC as possible to be in the hardest hands possible”) happens naturally over time. Every time hard-hands buy there is less available for weak-hands. | r/Bitcoin | 2024-22-05 |
Whales sell all the time. They did in 2017, 2021 and will again. | r/bitcoin | Whales sell all the time. They did in 2017, 2021 and will again. | r/Bitcoin | 2024-22-05 |
sounds like you were over-invested to begin with if you don't have some fiat on hand to cover routine things like these.
now you gotta deal with tax reporting as well. | r/bitcoin | sounds like you were over-invested to begin with if you don't have some fiat on hand to cover routine things like these.
now you gotta deal with tax reporting as well. | r/Bitcoin | 2024-22-05 |
Yep, and that's exactly what's happening now, and what's been happening ever since we hit the new ATH. It's annoying, and I feel a surge of joy every time a trader gets liquidated on [aggr.trade](http://aggr.trade), but every day this continues moves more BTC to harder hands, and that'll pay off later. | r/bitcoin | Yep, and that's exactly what's happening now, and what's been happening ever since we hit the new ATH. It's annoying, and I feel a surge of joy every time a trader gets liquidated on [aggr.trade](http://aggr.trade), but every day this continues moves more BTC to harder hands, and that'll pay off later. | r/Bitcoin | 2024-22-05 |
This isn't entirely accurate. ETF accounts are listed here as "whales" that's not entirely accurate as being only rich big shots. | r/bitcoin | This isn't entirely accurate. ETF accounts are listed here as "whales" that's not entirely accurate as being only rich big shots. | r/Bitcoin | 2024-22-05 |
HFSP | r/bitcoin | HFSP | r/Bitcoin | 2024-22-05 |
I've said this many times, and I'll say it again:
**Hold on to what you have.**
Owning 100 BTC in 2012 was nothing. How many people still owned 100 BTC in 2016? Very few. Most sold. Now, they tell stories about what they used to have.
Owning 10 BTC in 2016 was no big deal. How many people still owned 10 BTC in 2020? Very few. Most sold, but they probably don't talk about it.
Owning 1 BTC back in early 2020 wasn't that big of a deal. How many people still own 1 BTC today? Very few. Most sold and can only wish they were still whole coiners.
The 2024 post-halving bull run hasn't even kicked off yet (I think it'll kick in, for real, around September/October) but we've already reached the point where it costs nearly $7k just to buy 0.1 BTC.
How many of those who own 0.1 BTC today will still own at least 0.1 BTC in 2028? Many will screw up & lose it by trying to time the market.
People keep selling, thinking they'll buy back in when the price drops, because of course they will, right? But that money's long gone when the price drops because when they had money in the bank, they spent it. And that assumes the price drops. There will come a time when buying Bitcoin under 70k will seem like the good old days.
Most of those who sell end up regretting it. They end up buying back in at a higher price, or they become part of the crowd who tell stories about how they used to be in Bitcoin, back in the day.
Hold on to what you have.
P.S. Happy Bitcoin Pizza Day! I'm going with a classic this afternoon: sausage & pepperoni. | r/bitcoin | I've said this many times, and I'll say it again:
**Hold on to what you have.**
Owning 100 BTC in 2012 was nothing. How many people still owned 100 BTC in 2016? Very few. Most sold. Now, they tell stories about what they used to have.
Owning 10 BTC in 2016 was no big deal. How many people still owned 10 BTC in 2020? Very few. Most sold, but they probably don't talk about it.
Owning 1 BTC back in early 2020 wasn't that big of a deal. How many people still own 1 BTC today? Very few. Most sold and can only wish they were still whole coiners.
The 2024 post-halving bull run hasn't even kicked off yet (I think it'll kick in, for real, around September/October) but we've already reached the point where it costs nearly $7k just to buy 0.1 BTC.
How many of those who own 0.1 BTC today will still own at least 0.1 BTC in 2028? Many will screw up & lose it by trying to time the market.
People keep selling, thinking they'll buy back in when the price drops, because of course they will, right? But that money's long gone when the price drops because when they had money in the bank, they spent it. And that assumes the price drops. There will come a time when buying Bitcoin under 70k will seem like the good old days.
Most of those who sell end up regretting it. They end up buying back in at a higher price, or they become part of the crowd who tell stories about how they used to be in Bitcoin, back in the day.
Hold on to what you have.
P.S. Happy Bitcoin Pizza Day! I'm going with a classic this afternoon: sausage & pepperoni. | r/Bitcoin | 2024-22-05 |
how do they know im packing a shrimp | r/bitcoin | how do they know im packing a shrimp | r/Bitcoin | 2024-22-05 |
But they don't panic sell, and they don't trade, and they don't "take profits" when number went up. Retail could learn a lot. | r/bitcoin | But they don't panic sell, and they don't trade, and they don't "take profits" when number went up. Retail could learn a lot. | r/Bitcoin | 2024-22-05 |
I'm not fucking selling! | r/bitcoin | I'm not fucking selling! | r/Bitcoin | 2024-22-05 |
Yep and I’m pretty sure the 6 million ish lost bitcoins are almost all marked as whales ( aka Satoshis wallet alone is 1.1 million of the whales. ) | r/bitcoin | Yep and I’m pretty sure the 6 million ish lost bitcoins are almost all marked as whales ( aka Satoshis wallet alone is 1.1 million of the whales. ) | r/Bitcoin | 2024-22-05 |
Unfortunately I had to sell 50% to buy my wife a new car, but I see that a win since 80% of my BTC value was from a $5000 purchase a few years ago. | r/bitcoin | Unfortunately I had to sell 50% to buy my wife a new car, but I see that a win since 80% of my BTC value was from a $5000 purchase a few years ago. | r/Bitcoin | 2024-22-05 |
Those people also have humongous bills to pay for Ferraris and yachts. It's just that their holdings of BTC is a smidgen of their net worth. | r/bitcoin | Those people also have humongous bills to pay for Ferraris and yachts. It's just that their holdings of BTC is a smidgen of their net worth. | r/Bitcoin | 2024-22-05 |
Exactly.
Why people don't get this is beyond me. | r/bitcoin | Exactly.
Why people don't get this is beyond me. | r/Bitcoin | 2024-22-05 |
Probably because poor people need money now | r/bitcoin | Probably because poor people need money now | r/Bitcoin | 2024-22-05 |
I ain’t feeding no one I’ve been eating since day 1 | r/bitcoin | I ain’t feeding no one I’ve been eating since day 1 | r/Bitcoin | 2024-22-05 |
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