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Vert's Bitcoin Thread

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If every no coiner millionaire in the world wanted to buy just 1 bitcoin right now they couldn't there isn't enough supply for it. 

If you' own 1 or more Bitcoin & just HODL for 10 yrs congrats you'll likely be filthy rich. 

FEW

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16 hours ago, StompGrind said:

Elon BTC Hodl'er confirmed. 

 

Tesla in their recent filing confirmed they sold 10% of their stash this month.....that probably was partially to blame for the dip. Elon said it was to confirm liquidity in BTC lol

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1 hour ago, VertFTW said:

Tesla in their recent filing confirmed they sold 10% of their stash this month.....that probably was partially to blame for the dip. Elon said it was to confirm liquidity in BTC lol

I know. Not sure what your point is though. He absolutely proved the point that it's smart to have BTC on a companies balance sheet. Quarterly earnings report shows Tesla made a profit of 101 million trading BTC. 

Interesting part to me is he said "I have not sold any of my Bitcoin" meaning he is personally invested. 

 

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5 minutes ago, StompGrind said:

I know. Not sure what your point is though. He absolutely proved the point that it's smart to have BTC on a companies balance sheet. Quarterly earnings report shows Tesla made a profit of 101 million trading BTC. 

Interesting part to me is he said "I have not sold any of my Bitcoin" meaning he is personally invested. 

 

To me he proved that the market is more illiquid than he thought...they sold and dumped BTC price to 50k....there is someone on coinabse manipulating to keep the price up right now otherwise would have dumped more.

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7 minutes ago, VertFTW said:

To me he proved that the market is more illiquid than he thought...they sold and dumped BTC price to 50k....there is someone on coinabse manipulating to keep the price up right now otherwise would have dumped more.

he sold in March

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21 minutes ago, SVTContour98 said:

he sold in March

yeah that sell almost crashed the market and right now BTC price is hanging by a thread someone is artificially keeping the price up right now.

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6 minutes ago, VertFTW said:

yeah that sell almost crashed the market and right now BTC price is hanging by a thread someone is artificially keeping the price up right now.

what date he sold on?  all I heard was "in March".

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4 hours ago, VertFTW said:

To me he proved that the market is more illiquid than he thought...they sold and dumped BTC price to 50k....there is someone on coinabse manipulating to keep the price up right now otherwise would have dumped more.

Lol at hanging by a thread because it had a healthy 20% flash crash correction this month after being bullish for months. Iss normal it's what BTC does. 

With the network hash rate dropping off for a few days in China, all the FUD & people distracted investing in other things like Doge, SafeMoon & lol ©️umrocket + accounts getting liquidated from being over leveraged & traders looking to make quick profits to play with house money I'm amazed it didn't go down to around 38-40 k then quickly bounce back to 45-48 k.

We'll probably get another 500% ROI on BTC before a major crash sends us to crypto winter for a time. If you can just HODL some BTC, ETH & DeFi through the winter you'll make out like a bandit. Also any of the top staking APY protocols such as COMP, AAVE etc. are going to be huge winners in the long run when all this stuff progresses to the point of being truly mainstream

Legacy system will have to adopt or risk dying off. 

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21 minutes ago, cashfl0w said:

 

Everybody is stepping on Stomp's toes!

gonna go into direct competition with CUMROCKET coin lol

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3 hours ago, cashfl0w said:

 

Everybody is stepping on Stomp's toes!

They l8 bro. I'm ahead of the curve. Everybody & they mama trying 2 get in now. 2 lucrative not to. I'm curious to see what they develop. 

Also i reached out to Dustin with a suggestion to do an NFT a few months ago & donate the majority of proceeds to his charity. Would have been fire but he never replied back.

HFSP hillbilly peahead from the back woods of Louisiana. Maybe I'll do one with Conor instead. He'd probably be interested especially if i told him Dustin basically ignored me & or didn't see it. 

 

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2 hours ago, SVTContour98 said:

 

I'm getting in!!!

Gonna be HUGE!

If they do it right. If they do it half @ss it will be just another $hit token. They'll probably make a killing on NFT's.

I'm curious to see what they do & if Dana is hip to adding crypto to UFC balance sheet & maybe starting a program to educate fighters on crypto. Imagine getting a % paid in crypto or a PPV cut in crypto on contracts. That would be an amazing development & a good option for fighters. 

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3 hours ago, SVTContour98 said:

if this doesn't get you hard...then you are probably over exposed to fiat

 

 

 

 

thats a pretty interesting decision point......just looking at it im leaning slightly bearish fro there for a while.

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11 minutes ago, VertFTW said:

thats a pretty interesting decision point......just looking at it im leaning slightly bearish fro there for a while.

reasonable unless the test off the yellow line (which just happened) is the trigger point....I'm expecting some ranging/lower prices

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4 hours ago, StompGrind said:

They l8 bro. I'm ahead of the curve. Everybody & they mama trying 2 get in now. 2 lucrative not to. I'm curious to see what they develop. 

Also i reached out to Dustin with a suggestion to do an NFT a few months ago & donate the majority of proceeds to his charity. Would have been fire but he never replied back.

HFSP hillbilly peahead from the back woods of Louisiana. Maybe I'll do one with Conor instead. He'd probably be interested especially if i told him Dustin basically ignored me & or didn't see it. 

 

 

4 hours ago, StompGrind said:

If they do it right. If they do it half @ss it will be just another $hit token. They'll probably make a killing on NFT's.

I'm curious to see what they do & if Dana is hip to adding crypto to UFC balance sheet & maybe starting a program to educate fighters on crypto. Imagine getting a % paid in crypto or a PPV cut in crypto on contracts. That would be an amazing development & a good option for fighters. 

This poster on BloodyElbow thinks you're a scammer.

Shocked that it took the UFC this long to get in on the world's most useless gold rush

For anyone who isn’t aware, NFTs don’t actually do anything. Blockchains can’t actually be a source of truth for the real world, because the whole point is that they’re trustless meaning that anyone can do things on them. In this case, that means add a link to a JSON document, which has metadata and a link to a piece of digital media. You can’t actually buy the digital media on the blockchain, and you can’t verify that you bought the digital media from it’s owner on the blockchain. All you can say is you bought this link, someone has to maintain the JSON document (a lot have already gone away, congrats you bought a 404) and in order to say the link is meaningful it has to be from a trusted provider (e.g. the NBA program) or you have to be able to point at social media posts from the creator saying they were selling it and where. At which point none of this ever had to be on the blockchain because there’s trust and the thing you care about isn’t on the blockchain. It would be cheaper and easier at every level if they had a normal database that said you owned the thing, and you could log in to sell it to someone else. But that doesn’t have the hype that horribly misunderstanding NFTs does.

The cost of being on the blockchain isn’t direct, the artist bids "gas" to miners to put the link on the blockchain, and anyone buying it bids for the miners to include the transaction. This incentivizes the miners by increasing their profits, which directly becomes spent on using more energy. The production of the block and it’s capacity for data would’ve happened anyway, but the amount of resources spent competing for computing that block go up to match the reward for doing so. The whole system has a stupidly large environmental cost, and anyone in the NFTecosystem is adding to that for something spectacularly, utterly pointless.

Posted  by Voronoff  on Apr 29, 2021 | 12:56 PM
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2 hours ago, cashfl0w said:

 

This poster on BloodyElbow thinks you're a scammer.

Shocked that it took the UFC this long to get in on the world's most useless gold rush

For anyone who isn’t aware, NFTs don’t actually do anything. Blockchains can’t actually be a source of truth for the real world, because the whole point is that they’re trustless meaning that anyone can do things on them. In this case, that means add a link to a JSON document, which has metadata and a link to a piece of digital media. You can’t actually buy the digital media on the blockchain, and you can’t verify that you bought the digital media from it’s owner on the blockchain. All you can say is you bought this link, someone has to maintain the JSON document (a lot have already gone away, congrats you bought a 404) and in order to say the link is meaningful it has to be from a trusted provider (e.g. the NBA program) or you have to be able to point at social media posts from the creator saying they were selling it and where. At which point none of this ever had to be on the blockchain because there’s trust and the thing you care about isn’t on the blockchain. It would be cheaper and easier at every level if they had a normal database that said you owned the thing, and you could log in to sell it to someone else. But that doesn’t have the hype that horribly misunderstanding NFTs does.

The cost of being on the blockchain isn’t direct, the artist bids "gas" to miners to put the link on the blockchain, and anyone buying it bids for the miners to include the transaction. This incentivizes the miners by increasing their profits, which directly becomes spent on using more energy. The production of the block and it’s capacity for data would’ve happened anyway, but the amount of resources spent competing for computing that block go up to match the reward for doing so. The whole system has a stupidly large environmental cost, and anyone in the NFTecosystem is adding to that for something spectacularly, utterly pointless.

Posted  by Voronoff  on Apr 29, 2021 | 12:56 PM

Depends on the NTF, how it's minted & the exchange/link it's hosted at. All of them operate differently & it's up to seller & buyer to be informed before they list or buy. 

There's many ways to do them & no you're not just buying a link that's not always the case. Also some exchanges do not cost gwei to mint initially. It's taken out of the cost upon sale. As the network & exchanges expand that's only gonna get cheaper. 

Buying an NFT is like buying any collectable with a verification of proof.  It's a contract of ownership of a digital asset and yeah some NFT's include unlocked links upon sale, some are minted on exchanges then transferred to a wallet upon sale & some artist even send physical objects to the winning bid. If that's a scam so is any listed digital content for sale or any physical collectibles with certificates of authenticity you can purchase from any online store. The difference with blockchain is you're buying a collectable with 100% prove of ownership, & the freedom to collect royalties & re-sell it if you wish. You own the item & as long as all copyrights are written into the smart contract you have more freedom to do what you like with it. This is awesome for a lot of reasons. 

He also clearly doesn't understand value of art. Blockchain + the NFT ecosystem of tokenizing content is very useful for artist, collector, traders & tracking ownership & yes you do own the asset if all copyrights are transferred in the smart contract which is easily set-up & clearly listed on the exchanges. To blanket say the whole NFT ecosystem is a scam is extremely misinformed. Don't even get me started on legacy system environmental cost. 

He maybe have a point if he said UFC will probably make a fortune & not pay fighters their due since they effectively own their likeness rights however that's the contract they sign. IMO they should get a huge cut. 

Edited by StompGrind

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Also who ever wrote that article was doing a hit piece. There's certain points that are either incorrect or misleading. It's all cons that don't cover different circumstances but painting everything with one bad brush like that's the way it is & they failed to mention any pros. Obvious hit piece is obvious. Space is relatively new at early stages so it's still a little wild west & working out the kinks. 

What the UFC will do I'll reserve judgement till i know more. 

People wanting to sell, collect or trade NFT's should do some research & know what they're getting into before diving in like anything else that is a fair warning but if you just have all con to say & no pro then you either don't know what you're talking about or you're full of $hit. 

 

 

Edited by StompGrind

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One last thing i will say. When you own an NFT & assuming it's listed with full copyrights being transferred you own that original minted work. It cannot be copied there is only that version if it's a one of a kind or in the case of a collection with 100's or thousands of editions for that collection you still own an original of that series. This is one reason why they can be so valuable just like any collectible they are limited edition & with blockchain it's very easy to trace origin with 100% confirmation. 

This wasn't really possible for digital content in the past where someone could throw a piece of digital content online then it can be copied an infinite number of times & there is no difference between the OG file & the copies so it's difficult to tell origin & ownership. Blockchain & these tokenized items make it so that you can truly know the original source & the history of ownership + what it sold for along the way. This is a HUGE game changer for digital content. 

Edited by StompGrind

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1 hour ago, SVTContour98 said:

I see more and more people calling for ETH to flip BTC......Top signal? lol

338.8 billion market cap vs. 1.1 trillion. Flippening not gonna happen anytime soon but when eip 1559 hits in July people with little ETH gonna cry. NFT market gonna explode if they sort gas fees & the platforms become easier for common use. 

When ETH layer 2 happens we'll probably see a pretty serious season of exodus from alts & maybe even BTC to some extent then more buying from whales in both BTC & ETH & alts will follow & the best ones will pick back up again. 

I closed my Tesla position 2 months ago & put it in ETH instead. IMO ETH is going to grow massively in 2022. It will pass 10K by summer next yr. It might hit 30K or more by 2024. 

 

Edited by StompGrind
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7 hours ago, Bubba_Sparks said:

@StompGrind, interested to hear your reasoning behind the tesla dump? 

I adapted to the market. I'm officially stockless but i have more savings & crypto. 

I still believe TSLA has potential to reach crazy heights & i may regret selling all of it later but it was going too sideways for me to long anymore. My gainz were getting too stagnant or chipped away at this yr. Too much cult of personality with Elon, too many red days & not enough greens this yr when i know i could make better use of it which i did. 

Main reason is i just wanted to free up a good amount of capitol to have more back up reserve savings safety net just in case all this $hit goes sideways & to re-invest some net profits i made on other things i know can likely make WAY better returns & growth near term & potentially long term. TSLA performed awesome for me last yr but this years been a little too slow for me. 

In the last two months i made WAY better gainz & if i need to adapt again i will.  I only wish i got into all this stuff 10 yrs ago. I'd be retired right now sitting on a beach with two hotties on my lap living off the interest of multiple millions lol. 

 

Edited by StompGrind
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I had 69 shares of TSLA left when i sold it all lol. The perfect number....but i aped in to some of that a little l8 so it kind of threw my gainz for 5.

Would have been better if i just bought total invested value from the start & sold it all in l8 Jan when it peaked. 

 

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21 hours ago, StompGrind said:

I had 69 shares of TSLA left when i sold it all lol. The perfect number....but i aped in to some of that a little l8 so it kind of threw my gainz for 5.

Would have been better if i just bought total invested value from the start & sold it all in l8 Jan when it peaked. 

 

Well yeah but nobody has a crystal ball to know so you do risk management and maybe a small pot to gamble away.

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