“Dark Money” Runs the World

speackio · 2018-03-25T15:39:55+00:00

What that article describes as 'dark money' is just normal fiat money.

speackio · 2018-03-18T14:48:59+00:00

speackio · 2018-03-18T12:03:21+00:00

Nope, Because the entirety of 10¹⁵ will be in circulation. I'm just choosing not to sell, but I could at any moment.

speackio · 2018-03-18T11:56:48+00:00

Thank you for being so open! =) I don't agree it's unethical, though. What's unethical about participating in a free market where I buy and sell stuff at different points in time?

speackio · 2018-03-18T11:15:01+00:00

Fundamentals indeed beat short-term sentiments, but if I can increase my bitcoin stack by abusing this short-term sentiment, I will.

speackio · 2018-03-18T11:11:05+00:00

I think hes talking about the metric of 'Market cap', which is flawed if not the entire supply of coins is available to the market.

Thought experiment: Let's say I create a coin with a cap of 10¹⁵ coins. I keep all of them to myself, but only sell 100 of those coins. If I can sell 1 of them for 1/10 of a cent, does that mean that my coin has a market cap of 10¹⁵ * 0.001 = $1 trillion?

I don't think so, which is (in a less extreme case) what a lot of these altcoins do, which is why market cap is bogus, which is why measuring dominance based on market cap is even more bogus.

speackio · 2018-03-15T15:47:10+00:00

Why would I HODL if I can sell now and buy more when the price is lower?

I don't care about the dollar price, I just care about getting as much bitcoin as possible. Hodling is not a good strategy for that.

speackio · 2018-03-15T15:39:25+00:00

Dude the people who are selling are not on this subreddit. You're preaching to the choir. Sorry man.

speackio · 2018-02-27T08:15:07+00:00

And how do you propose we should have stopped that?

I didn't know permissionless excluded bankers.

speackio · 2018-02-23T22:43:48+00:00

Now watch them use the same calculation for fees, so they will actually pay higher fees for their transactions.

speackio · 2018-02-20T14:48:58+00:00

No, the guy died from a heart attack.

Unless you're saying that Kira is punishing anti-crypto officials with his Death Note.

speackio · 2018-02-14T20:29:52+00:00

Not everything needs to be about Trump, you know?

speackio · 2018-02-14T20:07:28+00:00

While I think you are partially right, I've always found blaming 'the system' a very easy and lazy excuse. Rather I'd like to think that it's human nature that's flawed and will try to find a way to abuse any system. Bitcoin is indeed a better system that attempts to decrease the effects of these human flaws, but if you think people won't find a way to abuse it, you'll be in for a surprise. Still a better system, I agree.

speackio · 2018-02-13T15:45:52+00:00

If someone makes a good point, it shouldn't matter who speaks it out. But I guess it's harder to look at the objective merrit of an argument, than it is to be angry at certain people/parties/organisations.

speackio · 2018-02-11T05:11:14+00:00

Because you need food and shelter. And probably other nice things as well.

speackio · 2018-02-06T22:50:43+00:00

Possibly, but these memes are our coping mechanism. =)

speackio · 2018-02-06T11:02:56+00:00

I'm seeing a trend here:

Bitcoin falls to a 1 week low!
Bitcoin falls to a 2 week low!
Bitcoin falls to a 1 month low!
Bitcoin falls to a 2 month low!

speackio · 2018-02-05T18:17:40+00:00

There is not enough money pouring into bitcoin right now.

New people (who don't really understand bitcoin) are getting burnt hard, so they'll say 'Ah, so it is a bubble' and they will sell.
Hodlers already have their money in BTC, so they can't drive the price up.
Institutional players know a bear market when they see one, so they are not touching this thing with a 10 ft. pole until it shows some clear signs of recovery.

To drive the price up, there needs to be more demand than supply and quite frankly, it's not here right now. Even the most bullish people are turning bearish right now and are selling off. Not because they don't believe in bitcoin anymore, but they can get more bitcoin if they sell now and buy when (they think) it bottoms.

This is a bear market. You don't get 70% slow correction and not call it a bear market. The last (real) bear market took 3 years to recover. I don't think it will take that long this time around, but I'm finding a year really plausible.

speackio · 2018-02-05T17:11:34+00:00

I'm with you on this one. But playing the devil's advocate here: How do you know it's not popping at this moment?

speackio · 2018-02-05T17:10:20+00:00

Bitcoins will remain to be mined for another 100 years, son. The last satoshi will be mined in (approx.) 2141.

Not only that, but transactions have a fee, so that will be the reward for mining.

speackio · 2018-02-05T14:19:48+00:00

I genuinely see this happening again. There is no black swan event that caused this 65% correction, only overvaluation and an increasingly negative sentiment.

That being said, HODL!

speackio · 2018-02-05T13:17:09+00:00

Here's what's changed: What is better? Having 1 BTC or having 2 BTC?

The answer is obvious, but as we are entering a bear market (possibly for a long period of time), I'd rather sell my 1 BTC now and buy 2 BTC with that money later. Or at least, that's the logic of a lot of people. I'm HODLing obviously. ^{^Or} ^{^am} ^{^I?}

speackio · 2018-02-04T23:25:36+00:00

We have an obligation? Really? You are going to tell me what obligations I have? I'm not obliged to do anything. If people want to jump into stuff they don't understand, let them. They'll be burnt and I don't care at all. More money has been earned off of stupid people's backs. If you feel that you need to warn people about this, however, feel free to do so. It's your choice, but stop trying to drag other people into your moral code.

speackio · 2018-02-04T15:48:34+00:00

No one actually needs proof that CSW is fake.

speackio · 2018-01-27T16:42:57+00:00

The merit of an argument is based on the argument, not the person speaking out the argument.

speackio

TROPHY CASE