Bitcoin hits $125k - 10/4/25 (Page 3 of 618)
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Originally Posted By Mr_Psmith: In all seriousness -- and I know you all know this, but I am posting for the thread readers -- those types of ultra high value keys are protected by one or more of a) multisignature b) Hardware security modules c) ??? Their holdings are bigger than mine, and I protect mine across 3 linux SBCs in 3 different locations with multisig. 100% offline, only communication in or out is via the serial header at 9600bps. |
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Originally Posted By woodsie: Binance is a Chinese company based in Malta. Getting out of there and getting into Coinbase is a good call as they are a U.S. based company. I'm a strong believer in having a throat that I can physically go choke in the event of shenanigans. I'm sure plenty of former Mt. Gox users would |
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Originally Posted By woodsie: Binance is a Chinese company based in Malta. Getting out of there and getting into Coinbase is a good call as they are a U.S. based company. I'm a strong believer in having a throat that I can physically go choke in the event of shenanigans. I'm sure plenty of former Mt. Gox users would agree. Technically, if you ever had more than $10k value in your Binance account at any given time you would be required to file a FBAR report each year with your account info to the IRS, big penalties for not doing so 
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Originally Posted By mb300sd: Their holdings are bigger than mine, and I protect mine across 3 linux SBCs in 3 different locations with multisig. 100% offline, only communication in or out is via the serial header at 9600bps. Originally Posted By mb300sd: Originally Posted By Mr_Psmith: In all seriousness -- and I know you all know this, but I am posting for the thread readers -- those types of ultra high value keys are protected by one or more of a) multisignature b) Hardware security modules c) ??? Their holdings are bigger than mine, and I protect mine across 3 linux SBCs in 3 different locations with multisig. 100% offline, only communication in or out is via the serial header at 9600bps. Very nice. Which multisig library / software are you using? |
==COLLECTIVISM IS SLAVERY==
Everyman, I will go with thee
and be thy guide,
In thy most need to go
by thy side.
Everyman, I will go with thee
and be thy guide,
In thy most need to go
by thy side.
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Originally Posted By woodsie: The guy in charge of protecting [GBTC's] private key must be shitting diamonds from the pressure.  Originally Posted By woodsie: The guy in charge of protecting [GBTC's] private key must be shitting diamonds from the pressure. Someone posted the key security policy for another of the big companies, I think it was Liquid. It was something like a five-of-nine multisig, OR either one of two timelocked failsafe superkeys that couldn't move the BTC until about two years had passed. They move the BTC to new similarly-generated addresses periodically so those failsafe superkeys are not immediately useful to any individuals. They don't keep all of their hoard on a single address, either. If a major disaster kills five board members all at once, or if they get into a massive infighting situation, the company can continue to fund itself with the failsafes. Otherwise it takes agreement among a large number of people to move anything. I wish I had enough to make that necessary. Originally Posted By dog-meat: He has it in a Post it note stuck to his monitor. I'm sure they keep it somewhere safe like MtGox or QuadrigaCX. I love your avatar, BTW. Originally Posted By Mr_Psmith: In all seriousness -- and I know you all know this, but I am posting for the thread readers -- those types of ultra high value keys are protected by one or more of a) multisignature b) Hardware security modules c) ??? c) a pack of hungry pitbulls |
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Originally Posted By Caeser2001: No. Grayscale and either PayPal or Square are buying ALL newly minted Bitcoins. Demand > supply. Seems to me the Tether injection was running strong before those operations started up. We'll see how long they stick with it, it's an easy corporate decision if the price is always going up. |
“Nil desperandum, -- Never Despair. That is a motto for you and me. All are not dead; and where there is a spark of patriotic fire, we will rekindle it.” - Samuel Adams
Future Warlord of Santa Monica
Future Warlord of Santa Monica
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Originally Posted By madmacs69: Seems kind of volatile... https://www.coindesk.com/u-s-seized-more-than-1b-in-silk-road-linked-bitcoin-seeks-forfeiture-bloomberg https://www.coindesk.com/cred-bitcoin-miners-stone-ridge-ecb It’s just price discovery, like an IPO. Eventually the volatility will subside, albeit, at a much higher price when Bitcoin matches Gold’s market cap. |
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Paging @Josh to the crypto courtesy phone. Is Chainlink still a "fly by night bullshit scamcoin?" Attached File Attached File |
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Originally Posted By BlackTuono: Seems to me the Tether injection was running strong before those operations started up. We'll see how long they stick with it, it's an easy corporate decision if the price is always going up. Originally Posted By BlackTuono: Originally Posted By Caeser2001: No. Grayscale and either PayPal or Square are buying ALL newly minted Bitcoins. Demand > supply. Seems to me the Tether injection was running strong before those operations started up. We'll see how long they stick with it, it's an easy corporate decision if the price is always going up. Grayscale has been buying 85% of all newly minted Bitcoins for well over a year now. |
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Originally Posted By DefconFrat: Paging @Josh to the crypto courtesy phone. Is Chainlink still a "fly by night bullshit scamcoin?" https://www.AR15.Com/media/mediaFiles/446708/Screen_Shot_2020-11-24_at_12_08_46_png-1699609.JPG https://www.AR15.Com/media/mediaFiles/446708/Screen_Shot_2020-11-24_at_12_12_02_png-1699612.JPG Had I followed Joshs advice I would have thousands less right now. |
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Originally Posted By DefconFrat: Paging @Josh to the crypto courtesy phone. Is Chainlink still a "fly by night bullshit scamcoin?" https://www.AR15.Com/media/mediaFiles/446708/Screen_Shot_2020-11-24_at_12_08_46_png-1699609.JPG https://www.AR15.Com/media/mediaFiles/446708/Screen_Shot_2020-11-24_at_12_12_02_png-1699612.JPG I dont care if it is a scam or not as long as other people don't think it's a scam. My crypto investing strategy is betting on FOMO. |
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Originally Posted By burnka871: Supposedly PayPal is buying 70% as well. So massive supply shock incoming. (Yes I understand that math does not add up) Originally Posted By burnka871: Originally Posted By Caeser2001: Grayscale has been buying 85% of all newly minted Bitcoins for well over a year now. Supposedly PayPal is buying 70% as well. So massive supply shock incoming. (Yes I understand that math does not add up) Sure it does. It just means that newly minted coins aren't keeping up and they are having to pull from existing ones already out in the wild. Supply shock indeed. My body is ready. |
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Originally Posted By DefconFrat: Paging @Josh to the crypto courtesy phone. Is Chainlink still a "fly by night bullshit scamcoin?" https://www.AR15.Com/media/mediaFiles/446708/Screen_Shot_2020-11-24_at_12_08_46_png-1699609.JPG https://www.AR15.Com/media/mediaFiles/446708/Screen_Shot_2020-11-24_at_12_12_02_png-1699612.JPG LINK has been the best crypto investment I ever made. Probably the best overall investment I ever made based on growth. I few thousand bucks a couple years ago is now worth 6 figures and growing. |
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Thanks to an ARFCOM mining thread, I bought my first Bitcoin for $800. I was disappointed for a while, but not any longer. BTC will break $100,000 by the end of 2021, and $1 million 4 years later.  |
"Those who expect to reap the blessings of freedom must, like men, undergo the fatigue of supporting it."
-- Thomas Paine, "filthy little atheist"
-- Thomas Paine, "filthy little atheist"
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Originally Posted By Johnny_Rebo: I got into Dogecoin early. Just sitting here patiently waiting. Only crypto to sponsor a NASCAR driver FTW https://www.theguardian.com/technology/2014/mar/27/nascar-dogecoin-sponsor-josh-wise-talladega-superspeedway |
==COLLECTIVISM IS SLAVERY==
Everyman, I will go with thee
and be thy guide,
In thy most need to go
by thy side.
Everyman, I will go with thee
and be thy guide,
In thy most need to go
by thy side.
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Originally Posted By JimEb: I don’t understand cyber currency. Doesn’t claims of comparing its perceived value to real currency kind of defeat the purpose? We do that for now... But in the future will we? Important points to consider: Programmable money Truly scarce Digitization of asset ownership through tokenized stocks, bonds, land, property, etc which has a traceable proof of ownership Banking without a bank meaning: I can borrow, lend, acrue interest, and use escrow without ever stepping foot in a bank and do so without permission. When Eth2.0 launches and if eth is successful there will be no need for traditional banks and brokerages as we will take ownership of all functions of a bank and brokerage in our digital wallets through a smart contract marketplace. Where we are going is going to frighten people, anger politicians, and flip certain cornerstone establishments on their heads. Do not be left behind. |
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Which exchange(s) would you guys recommend for Snow Mexicans? Which crypto 101 type tutorials would you recommend for people looking to get into cryptocurrencies? Thanks 
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Thanks headstoner!Thanks geegee!Thanks sjuhockey10! Thanks drok556!Avatar courtesy of Dash_ISpy
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Originally Posted By Mazeman: Thanks to an ARFCOM mining thread, I bought my first Bitcoin for $800. I was disappointed for a while, but not any longer. BTC will break $100,000 by the end of 2021, and $1 million 4 years later. https://www.AR15.Com/media/mediaFiles/84918/BTC3StockToFlow-1699653.png lol That would mean bitcoin would be worth ~$18 trillion. The GDP of the entire world is ~$80 trillion. People who make these fantasy predictions don't seem to factor in economic context. |
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Originally Posted By Neotopiaman: lol That would mean bitcoin would be worth ~$18 trillion. The GDP of the entire world is ~$80 trillion. People who make these fantasy predictions don't seem to factor in economic context. How much currency and how much debt is there? ETA: 80 trillion dollars in cash and 188 trillion in debt. |
he, him,
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Originally Posted By Mazeman: Thanks to an ARFCOM mining thread, I bought my first Bitcoin for $800. I was disappointed for a while, but not any longer. BTC will break $100,000 by the end of 2021, and $1 million 4 years later. https://www.AR15.Com/media/mediaFiles/84918/BTC3StockToFlow-1699653.png Btc won't keep following that level of growth. |
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Originally Posted By Neotopiaman: lol That would mean bitcoin would be worth ~$18 trillion. The GDP of the entire world is ~$80 trillion. People who make these fantasy predictions don't seem to factor in economic context. |
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Originally Posted By madmacs69: A $1B seizure isnt really price discovery.... Originally Posted By madmacs69: Originally Posted By Caeser2001: It’s just price discovery, like an IPO. Eventually the volatility will subside, albeit, at a much higher price when Bitcoin matches Gold’s market cap. A $1B seizure isnt really price discovery.... That’s like blaming the US Dollar because drug cartels accept cash  |
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Originally Posted By captainpooby: How much currency and how much debt is there? ETA: 80 trillion dollars in cash and 188 trillion in debt. Originally Posted By captainpooby: Originally Posted By Neotopiaman: lol That would mean bitcoin would be worth ~$18 trillion. The GDP of the entire world is ~$80 trillion. People who make these fantasy predictions don't seem to factor in economic context. How much currency and how much debt is there? ETA: 80 trillion dollars in cash and 188 trillion in debt. Those two numbers overlap one person's liability is another's asset. |
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Originally Posted By captainpooby: People have been saying that since the beginning. Not saying you're wrong, just pointing it out. |
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Originally Posted By Kampster: We're not in bubble territory yet. So far no one who criticized my BTC purchases throughout the years has called to ask how it can be bought. Originally Posted By Kampster: We're not in bubble territory yet. So far no one who criticized my BTC purchases throughout the years has called to ask how it can be bought. Agreed. Originally Posted By jaqufrost: Originally Posted By captainpooby: People have been saying that since the beginning. Not saying you're wrong, just pointing it out. Agreed. Approaching the market cap of gold isn’t out of reality, which puts it at roughly 600k. Beyond that is anyone’s guess.  Money Printer Go Brrr (the original!) |
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Originally Posted By Mazeman: Thanks to an ARFCOM mining thread, I bought my first Bitcoin for $800. I was disappointed for a while, but not any longer. BTC will break $100,000 by the end of 2021, and $1 million 4 years later. https://www.AR15.Com/media/mediaFiles/84918/BTC3StockToFlow-1699653.png That would be awesome, but I kinda doubt if. I wonder if bitcoin at this point is almost more of a collectible. There are technologically better coins now but btc keeps churning |
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Originally Posted By crashburnrepeat: That would be awesome, but I kinda doubt if. I wonder if bitcoin at this point is almost more of a collectible. There are technologically better coins now but btc keeps churning It has the longest most secure network, thats a big part to its value as a public ledger. |
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Originally Posted By SBR_Slut: Which exchange(s) would you guys recommend for Snow Mexicans? Which crypto 101 type tutorials would you recommend for people looking to get into cryptocurrencies? Thanks Originally Posted By SBR_Slut: Which exchange(s) would you guys recommend for Snow Mexicans? Which crypto 101 type tutorials would you recommend for people looking to get into cryptocurrencies? Thanks Hello fellow third-worlder. I don't know the Canadian exchanges to answer your first question, but as for the rest: Andreas Antonopoulos's book "Mastering Bitcoin" may be a good starter. MB gets into unnecessary technical details if you're not programming things, though. Pamela Morgan's "Cryptoasset Inheritance Planning" is mostly about how to safely store it so it doesn't get lost, not about legal issues. Never leave your BTC on an exchange, move it to an address in a wallet you control. Ledger and Trezor are the two biggest hardware wallets, ColdCard looks interesting too. You can make your own Trezor out of a Raspberry Pi (but with the wallet data on a SD card, which isn't secure unless you encrypt it and be damn sure to back it up). You can also use Electrum as a software wallet, do it on an airgapped computer and move the transactions to another internet-connected computer to send them when you want to. Electrum comes preinstalled on the current TAILS Linux distribution. Originally Posted By Neotopiaman: lol That would mean bitcoin would be worth ~$18 trillion. The GDP of the entire world is ~$80 trillion. People who make these fantasy predictions don't seem to factor in economic context. Funny how gold manages to have a market cap of about ~$8 trillion even though hardly anyone ever uses gold coins any more. Something like half of it just sits around as jewelry and a lot of the rest ends up as commemorative coins, such as this spiffy one which is currently worth about US$19,300,000:  
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Originally Posted By captainpooby: People have been saying that since the beginning. Not saying you’re wrong, just pointing it out. Originally Posted By captainpooby: Originally Posted By jaqufrost: Nice logarithmic scale. Btc won't keep following that level of growth. People have been saying that since the beginning. Not saying you’re wrong, just pointing it out. The rate of growth has been declining since the beginning. Hard to say when it finally plateaus out but I suspect we are many years away from finding out. The climb to a million could get slower and slower the closer we get. I still think we've got one hell of a bubble up ahead of us though. I'll worry about a million later. Let's talk about $100k! I remember when $10k was a wild dream. |
Interesting and trippy BTC discussion with Max Keiser and Sean Ono Lennon: Orange Pilled in Paris with Sean Lennon |
"Those who expect to reap the blessings of freedom must, like men, undergo the fatigue of supporting it."
-- Thomas Paine, "filthy little atheist"
-- Thomas Paine, "filthy little atheist"
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The only issue I have with bitcoin is I don't really see it as all the different from land. We aren't really getting anymore of either which both are a hedge against inflation. Both are a commodity that can rise and fall in value. The difference is I can use land to create wealth. It could be something simple like farming on it, renting it out, or building on it. Bitcoin will eventually reach an equilibrium with inflation. I do see bitcoin slowly gaining over time as governments continue to print and inflate. I just don't see the hysteria/volatility being attractive, especially at this point. If interest rates climb back up and people start jumping into bonds/treasuries, I see bitcoin falling... |
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Originally Posted By jaqufrost: There are some real limits as you start approaching the combined wealth of the world. Thinking bitcoin will continue massive exponential growth beyond that is stupid.  Disco Stu - If these trends continue... |
Pick up that can.