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A community dedicated to Bitcoin, *the currency of the Internet*. Bitcoin is a distributed, worldwide, decentralized digital money. Bitcoins are issued and managed without any central authority whatsoever: there is no government, company, or bank in charge of Bitcoin. You might be interested in Bitcoin if you like cryptography, distributed peer-to-peer systems, or economics. A large percentage of Bitcoin enthusiasts are libertarians, though people of all political philosophies are welcome.Bitcoin - The Currency of the Internet
Updated: 1 day 15 hours ago

Looks good to me.

Tue, 01/16/2018 - 05:35

Daily Discussion, January 16, 2018

Tue, 01/16/2018 - 05:00

Please utilize this sticky thread for all general Bitcoin discussions! If you see posts on the front page or /r/Bitcoin/new which are better suited for this daily discussion thread, please help out by directing the OP to this thread instead. Thank you!

Daily threads are fast paced! If you don't get an answer to your question, you can try phrasing it differently or commenting again tomorrow.

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Your price screenshots and repetitive submissions are being removed, so please stop submitting them!

Please check the previous discussion thread for unanswered questions.

submitted by /u/rBitcoinMod
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Too soon ?

Tue, 01/16/2018 - 04:26

Picture of the Day

Tue, 01/16/2018 - 04:24

In mid 2012 I bought 600 Bitcoin.

Tue, 01/16/2018 - 04:15

In late 2012 I bought 600 BTC. I bought it because I thought in a sense I was donating to a cause, not for an investment. It went to $950. At one point my $4000 was worth half a million, which was almost 10× my portfolio. I sold 5 Bitcoin and spent a bit for some weed on the silk road (I was 20, please forgive me. Besides, back then, other than an eBay type website that you could buy gift cards from, you couldnt get much with bitcoin. Anybody remember the famous pizza?) Than bitcoin tumbled to $300. I invested in Doge with some of it, lost a lot there. I had over 5mil doge coin lost in a reddit tip wallet. I took my family on vacation through expedia after i had each of my kids, now 3. And once with my mom, so she could take the grand kids to disney world (she always wanted to take me and my sisters but single parent life sucks) After all the investments I should not have made, and the fun I do not regret having, I am a proud owner of 1.5 BTC. The reason I made this post is so people can see the ups and downs of Bitcoin. Please understand, everything is about price now, but at one point it wasn't. It was the dread pirate Roberts sticking it to the man, it was people using bitcoin as a way to protest our government bailing out banks and letting us middle class and lower suffer. Trust me when I say a 50% change in bitcoin is not strange. I personally hope it shakes the greedy people off and liberates us like it was designed to do. A world wide currency, untouchable by our greedy governments. If I want to send money to a young man in Taiwan because I believe in his invention, I should be able to. Just as I once sent money to a magic card trading website in exchange for magic internet money because I believed in the cause.

Edit: fat fingers, cell phone post.

Tl;dr: Bitcoin is not just about investing, it is about protesting the monetary system you have been forced to use.

submitted by /u/diddy122104
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Weeeeeeee!

Tue, 01/16/2018 - 04:13

12500 wall broken :(

Tue, 01/16/2018 - 03:11

This can't be good. Say hello to that 8k people having been going in about.

submitted by /u/ionmas
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Everybody relax. Here's the reason for the dip, and when the bull market will return.

Tue, 01/16/2018 - 02:19

Asia still dominates in crypto-trading by volume, accounting for the vast majority of money flowing in and out. Guess what is coming up in 3 weeks?

Lunar New Year. Lots of money is flowing back to fiat to buy presents and plane/train tickets.

People spend a TON of money on travel and presents during Lunar New Year. This is their Christmas. This is also the largest mass migration of people on the planet, occurring over two weeks. Projections are for $100 billion USD in spending. [https://www.forbes.com/sites/ywang/2017/01/26/worlds-largest-human-migration-begins-chinese-new-year-2017/#3a6d5502999a]

Remember that the crypto market is antithetical to the stock market. Stocks boom when business is booming during the holidays. Crypto investors are retail investors, not Wall Street investors. Retail investors sell during holidays, thus the crypto market falls.

This selloff has happened exactly 3 weeks before Lunar New Year each of the last 4 years.

Evidence: https://i.imgur.com/xKFssKT.jpg [credit: u/Secruoser]

So, everybody chill out for a week, the bulls will be back by February. You can't fault these Chinese and Korean bros for taking major gains to buy some cool shit for their families. Hell, if you want to, buy up their cheap coins in the meantime.

submitted by /u/eclipsegum
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