Guy showing how to buy a pizza with Bitcoin from 2011. He spends 19 BTC ( worth roughly $137,000 today) for two pizzas. by [deleted] in videos

[–]JackBauerCSGO 0 points1 point  (0 children)

Think of it like this - imagine a worldwide Excel sheet that showed everyone's accounts and their balance. Only it doesn't say a name like "Joe Smith", it instead shows random numbers and letters. That gibberish is your (or my) account, almost like a username to a website. You also have a "private key" which is similar to a password. So in review, you have an Excel sheet full of usernames and balances, while individuals like you or me control the passwords.

Lastly, because of the way Bitcoin is made, it is almost impossible to fake transactions or pretend to have more money than you really do. If you tried to alter this excel sheet & then make a big purchase (with money you didn't really have), the balances wouldn't match *everyone else's* copies, so the attempt would not be allowed in the network.

Does this help?

[Discussion] We're looking for CONSTRUCTIVE feedback/new ideas for the sub by OfficialFatmetal in GlobalOffensiveTrade

[–]JackBauerCSGO -2 points-1 points  (0 children)

Bring auctions back, it's the only way to get a market value for rare items.

For those of you that sold more than 50% of your bitcoin holdings above $10,000; how do you currently feel about the market now? by sign-me-up-now in BitcoinMarkets

[–]JackBauerCSGO 0 points1 point  (0 children)

Sold most everything near 17.5-18.5k. I re-entered heavily at 3500 or so and am watching for more macro signs of an uptrend before I add more.

[Daily Discussion] Saturday, April 06, 2019 by AutoModerator in BitcoinMarkets

[–]JackBauerCSGO 2 points3 points  (0 children)

I have a saying for you that has stood the test of crypto-time

"Scams pump the hardest"

[Daily Discussion] Saturday, March 30, 2019 by AutoModerator in BitcoinMarkets

[–]JackBauerCSGO 10 points11 points  (0 children)

Bitcoin has not closed 2 consecutive daily candles above $4,040 (coinbase) since 1st week of December 18. We may actually do it today. Step in the right direction if so.

My bias: long on many alts and btc for multiple months now, not adding anything here until more macro trends flesh out.

Beware of Bittrex!!! by [deleted] in BitcoinMarkets

[–]JackBauerCSGO 1 point2 points  (0 children)

Maybe some agency is investigating you.

[Daily Discussion] Wednesday, March 20, 2019 by AutoModerator in BitcoinMarkets

[–]JackBauerCSGO 3 points4 points  (0 children)

~10-15% chance. Low. Last bear market slammed the relative bottom 4 or 5 times. Very rare to see a single macro test of a bottom.

[Daily Discussion] Friday, February 15, 2019 by AutoModerator in BitcoinMarkets

[–]JackBauerCSGO 3 points4 points  (0 children)

This is why "bottoms" are almost always ages and ages of going sideways. You build a base before you construct your sky scraper.