Does El Salvador's experiment with bitcoin adoption scare you?  I ask because bitcoin is 100% digital so far as i know and my farm in rural ohio (i.e. not the third world and certainly in a civilized part of the country, meaning it's not the middle of BLM land in Wyoming) and i cannot get internet at the farm until the leaves come off the trees completely (like mid october) and i lose internet about the first of April.  so i doubt you'll ever seen huge portions of this country ever see the value in it.

posted by j_crazy

Does El Salvador's experiment with bitcoin adoption scare you?  I ask because bitcoin is 100% digital so far as i know and my farm in rural ohio (i.e. not the third world and certainly in a civilized part of the country, meaning it's not the middle of BLM land in Wyoming) and i cannot get internet at the farm until the leaves come off the trees completely (like mid october) and i lose internet about the first of April.  so i doubt you'll ever seen huge portions of this country ever see the value in it.

Not much scares me anymore. 

We're also not too far away from ubiquitous satellite internet so I don't see a lack of connection as an issue long term.

Also, what are the populations living without internet vs with internet in the US? I have to imagine 95% or more of US citizens live in an area with service.

posted by justincredible

If you don't think too much about the technical piece of it, does the distributed ledger make sense? 

Basically just a big database of who owns what that anyone can verify and it cannot be counterfeited or changed. That, plus the digital scarcity, are the big breakthroughs with bitcoin.

As for the private keys, yes, consider those your "currency" because you need the private keys to move or "spend" your bitcoin.

Distributed ledger sounds like a public database showing who owns what.  If that is correct, I get that.

The blocks, nodes and mining I don’t understand still.

posted by Dr Winston O'Boogie

Distributed ledger sounds like a public database showing who owns what.  If that is correct, I get that.

The blocks, nodes and mining I don’t understand still.

You got the gist, then. Does the Federal Reserve analogy makes sense?

Don't worry about not understanding the technical aspects of it. 

What jumped it up today?

gut bought some.

Nice little bit of movement recently. 

I'm guessing we'll see $30k again soon. Maybe today.

Now might be a good time to cash out and re-buy at a lower price.  Apparently with all the banking and crypto stuff going on, this has been a "flight to quality" [LMFAO] driving Bitcoin higher.  Meaning when the dust finally settles BTN is going to be lower.

Might not be a bad bet to shift more crypto exposure to ETH, anyway, after that upgrade.  Of course, the US govt isn't a big fan of POS right now.

No, I won’t be buying any ETH. 

WE ARE IN THE BLACK BOYS! 

$30,000 pic.twitter.com/yWGVXUAFX7

— Lina Seiche (@LinaSeiche) April 11, 2023

She's starting to rip. Right on cue.

What cue are you referring to? This topic?

https://www.vice.com/en/article/wxj7em/how-one-false-viral-tweet-cost-bitcoin-investors-dollar84-million-in-minutes

I was referring to historical cycles and how we're heading into the usual bull run period for the next 18 months or so. The halving is in April and it's usually the lead up to that, and the following 12 months that all the fun happens.

So price movement like this makes sense from that perspective.

As for the article, you would never catch me shorting (or leveraging my own) bitcoin for any reason. 

Another big rip today. 

Back over $40k, at least for the moment.

Woke up and it was pushing $42. $50k before the end of the year, I’d reckon. 

https://www.cnbc.com/2023/12/04/bitcoin-price-at-100000-in-2024-crypto-execs-say-bull-run-has-begun.html?__source=iosappshare%7Ccom.apple.UIKit.activity.Message

FWIW

posted by justincredible

Woke up and it was pushing $42. $50k before the end of the year, I’d reckon. 

Not quite, but it's getting closer. 

It's official.

Today the SEC grants approval for #Bitcoin ETFs for listing on all registered national securities exchanges.

The approved Bitcoin ETFs will be subject to ongoing surveillance and compliance measures to ensure continued investor protection. pic.twitter.com/oJinqv0wcR

— U.S. Securities and Exchange Commission (@SECGov) January 9, 2024

posted by justincredible

It's official.

Today the SEC grants approval for #Bitcoin ETFs for listing on all registered national securities exchanges.

The approved Bitcoin ETFs will be subject to ongoing surveillance and compliance measures to ensure continued investor protection. pic.twitter.com/oJinqv0wcR

— U.S. Securities and Exchange Commission (@SECGov) January 9, 2024

Lmao, I saw you gif before getting back on twitter and seeing the news. 

I just panic sold everything.

Bloomberg has been hacked.

All 11 spot bitcoin ETF tickers are currently being added to the Bloomberg Terminal as 'Pending Listing'

Trading will be ready to go shortly after approval.

Almost there 🫡 pic.twitter.com/P3oV9k4fcp

— Joe Consorti ⚡ (@JoeConsorti) January 10, 2024

posted by justincredible

Woke up and it was pushing $42. $50k before the end of the year, I’d reckon. 

We finally crossed $50k. I was off by about 43 days.