IN CASE YOU DIDN’T READ IT: The SEC disapproved the ETF because “unidentifiable participants can influence the market”. If someone manipulates the broad Bitcoin market, the SEC requires that they be identifiable. THERE WILL NEVER BE AN SEC-APPROVED BITCOIN ETF. Get it out of your minds and move on.

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Bitcoin – The Currency of the Internet

My friend invested 200K at 18500$ – take a chill pill, read my points and please contribute/upvote

He is very wealthy, and doesn’t lose sleep at night due to the recent “crash”. It is a 10 year+ bet. He is relaxed and actually buying more now.

Lesson: invest what you can afford to lose. Think long term.

This might be seen as a shit post but it gets on my nerve seeing all the people panicking and complaining in this sub.

BTC has the potential of becoming a competitor to gold, which has a 8T$ market cap. No, it’s not guaranteed – but it has a true chance. Guess what, the world is becoming more and more digital and BTC is until now apart of that revolution and obviously has the potential to continue doing so.

Relax and think long term.

In 2020 another halving is coming and all coins (21M) will be in circulation by 2140 approximately. Well all be dead by 2140…..

Some important factors that theoretically could affect the space: – stock prices are at an ATH. Market is over bought and inflated. If the stock market crashes money surely will go in to crypto. Some people disagree on this, but only time can tell. – a lot of countries around the world are at political and economical unrest. – the US has 21T$ in debt, not sustainable. This will implode at some point. – China has recently started to purchase oil with Yuan instead of dollars. This will affect the dollar in the longer term as dollars will be removed from the market. – the EU is fucked, brexit – and most likely more countries will follow and exit during the next decade.

In the past I’ve seen a lot of post about people saying that BTC is to expensive and that the whales are manipulating the market etc. Yes they are, as they do in all markets. As soon as BTC becomes more liquid it will be way less volatile. But we won’t see that before 1-2T$ +

Mining expenses are going one way, up – they have grown exponentially since the very beginning. If someone reinvents the wheel, yes, they might make a huge mining profit short term. But after some months other companies will be creating similar chips and hash rate will sky-rocket: hence, mining profits go down and miners won’t sell before break even or threat of bankruptcy.

After the next halving in 2020 a total of 328125BTC will be added to the market per year, that’s a total of approx 27K per month.

In 2024 a total of 164 062BTC will be added to the market, a total of 13.6K per month.

2028 a total of 6.8K per month.

2032 a total of 3.4K per month.

Do the math, use your logic.

And on my last note, Switzerland is the crypto place to be. The whole government is supportive of bitcoin and Blockchain. Their national bank had a profit of 55$ B in 2017. Don’t think their buying BTC behind the scenes? Think again! Would they be stupid enough to announce it, of course not.

Hold and relax, wether it’s real estate, BTC, valuable art, your wife, pension fund. Aim for a good life now and aim for a comfortable life when you get older, be smart!

All the best!

submitted by /u/bitcoinbjorn
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Bitcoin – The Currency of the Internet

On the 9th birthday of Bitcoin, I’d urge everyone who hasn’t yet read Satoshi’s 9-page* white-paper to read it. It’s brilliantly written, and with a lot of newbie’s coming in to the community, this is a must read!

Link to the white paper is here –

*9th page is the reference page. so really, it's only 8 pages.

I was just re-reading it, and i really enjoy Satoshi's outright sass in it. For example, when talking about 'greedy attackers' :

"He ought to find it more profitable to play by the rules, such rules that favour him with more new coins than everyone else combined, than to undermine the system and the validity of his own wealth."

and you can see that he was aware and conscious about node's being able to store the blocks with commonly found hardware:

"A block header with no transactions would be about 80 bytes. If we suppose blocks are generated every 10 minutes, 80 bytes * 6 * 24 * 365 = 4.2MB per year. With computer systems typically selling with 2GB of RAM as of 2008, and Moore's Law predicting current growth of 1.2GB per year, storage should not be a problem even if the block headers must be kept in memory."

happy reading!

EDIT – I've unknowingly sort of delved into the block-size/scaling debate in the last bit above. Not my intention. Bitcoin itself has evolved from the original white paper. Satoshi himself had found ways to improve on top of the white paper during the days he was active. My point here is to appreciate the great invention and truly understand it as told my the author/creator himself 🙂

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Bitcoin – The Currency of the Internet