Monday, 31 May 2021
Daily Discussion, June 01, 2021
At peace with whatever happens
This is why we HODL: In a zero-sum game such as this, traders can only take your money if you sell.
HODL is a term derived from a misspelling of "hold" that refers to buy-and-hold strategies in the context of bitcoin and other cryptocurrencies.
The term HODL (or hodl) originated in 2013 with a post to the bitcointalk forum. The price of bitcoin had surged to a high of over $1,100 at the beginning of December 2013 from under $15 in January 2013 . In the 24 hours to 10:00 a.m. UTC, Dec. 18 – possibly in response to reports of a Chinese crackdown – the price of bitcoin fell 39%, to $438 from $716, according to CoinDesk's bitcoin price index.
What is HODLING? At 10:03 a.m. UTC on Dec. 18, GameKyuubi posted "I AM HODLING," a drunk, semi-coherent, typo-laden rant about his poor trading skills and determination to simply hold his bitcoin from that point on. "I type d that tyitle twice because I knew it was wrong the first time. Still wrong. w/e," he wrote about the now-famous misspelling of "holding." "WHY AM I HOLDING? I'LL TELL YOU WHY," he continued. "It's because I'm a bad trader and I KNOW I'M A BAD TRADER. Yeah you good traders can spot the highs and the lows pit pat piffy wing wong wang just like that and make a millino bucks sure no problem bro."
He concluded that the best course was to hold, since "You only sell in a bear market if you are a good day trader or an illusioned noob. The people inbetween hold. In a zero-sum game such as this, traders can only take your money if you sell." He then confessed he'd had some whiskey and briefly mused about the spelling of whisk(e)y.
Within an hour HODL had made its way into memes: the movies 300 and Braveheart provided the initial source material, but there are now countless HODL memes floating around the internet (Game of Thrones' Hodor is a favorite subject).
(Pictured: The original HODL meme, based on a still image from the Spartan disaster film "300.")
HODL as Strategy and Philosophy HODL soon became a byword for an approach to cryptocurrency investing that shuns trading based on short-term price moves. This approach mirrors GameKyuubi's rationale: novice traders are likely to botch their attempts to time the market and lose money or make less than they would simply holding onto their coin.
Short-term swings aside, bitcoin's long-term volatility defies familiar logic. The price shot up by 52,000% from 2011 to 2013, then plunged by more than 80% over the following year. Since then it has shot to more than 17 times its previous high, only to fall again by half. Throughout the history of the cryptocurrency, credible voices have made logical arguments that it would go "to the moon" or crash to zero.
Hodlers wash their hands of all this volatility and prognostication. They simply hodl, which helps them to counteract two common destructive tendencies: FOMO (fear of missing out), which can lead to buying high, and FUD (fear, uncertainty, and doubt), which can lead to selling low. The latter is occasionally referred to as SODLing.
For hard-core believers in cryptocurrency, known as maximalists, HODL represents more than a strategy for reigning in FOMO, FUD, and other profit-eroding emotions. These true believers hodl because they think cryptocurrencies will eventually replace fiat currencies and form the basis of all future economic structures. They, therefore, see the fiat exchange rate of cryptocurrencies as irrelevant.
Predictably, a meme best captures this maximalist philosophy. Neo (from The Matrix) asks Orpheus, "What are you trying to tell me, that I can trade my bitcoin for millions someday?" Morpheus responds, "No Neo, I'm trying to tell you that when you're ready … you won't have to."
Submitted May 31, 2021 at 05:27PM by silly_investor https://bit.ly/3wNwwcm
Got to love the Bitcoin race car at the Indy 500. Rinus Veekay & team did a great job.
Submitted June 01, 2021 at 12:20AM by vindubbz808 https://bit.ly/3wNh14c
“Bitcoin has survived a number of big 'crashes', while Pets.com didn’t survive one...It would be a mistake to underestimate the unique and unprecedented resilience of digital items like Bitcoin. It's volatile, but it's not a bubble. There is no ceiling, nor any floor.” -Nathan Tankus
Submitted May 31, 2021 at 11:45PM by qbisq https://bit.ly/3c6c2E3
Binance CEO, CZ, shades Elon Musk in tweet. - ''When you use electricity to run cars, it’s environmentally friendly. When you use electricity to run the most efficient financial networks in the world, it’s an environmental concern.''
I'm so sick of the energy argument
Happy Memorial Day! Banks are closed today, but Bitcoin is still open for business!
Never gets old...
Submitted May 31, 2021 at 09:08AM by mastermind1228 https://bit.ly/2SEnHD4
India just unbanned Bitcoin (today)
It has come to our attention through media reports that certain banks/ regulated entities have cautioned their customers against dealing in virtual currencies by making a reference to the RBI circular DBR.No.BP.BC.104/08.13.102/2017-18 dated April 06, 2018. Such references to the above circular by banks/ regulated entities are not in order as this circular was set aside by the Hon’ble Supreme Court on March 04, 2020 in the matter of Writ Petition (Civil) No.528 of 2018 (Internet and Mobile Association of India v. Reserve Bank of India). As such, in view of the order of the Hon’ble Supreme Court, the circular is no longer valid from the date of the Supreme Court judgement, and therefore cannot be cited or quoted from.
https://rbi.org.in/Scripts/NotificationUser.aspx?Id=12103&Mode=0
Submitted May 31, 2021 at 10:35PM by simplelifestyle https://bit.ly/3c4l7gq
"India bans Bitcoin!" Uh, NO. "China bans Bitcoin" Uh, NO. "Nigeria bans Bitcoin" Uh, NO. It's an endless shitstorm as moneyed interests close to the dollar spigot finally see Bitcoin for what it is: A direct threat to monetary expansion and Central bank authority. Put your shields up, and prepare.
Spectacular ongoing Indianapolis 500 race ongoing with Bitcoin car #21 driven by Rinus Veekay. Proud like many others to have contributed to it.
Submitted May 31, 2021 at 01:39AM by ZoTrAcK https://bit.ly/3i4wbhj
Indian central bank reverses its ban on banks dealing in crypto
India just unbanned Bitcoin (today)
Over the past weeks we heard a lot of news coming from China about another Bitcoin ban, miners gone offline and it was reported that the Chinese State Council was cracking down on mining...
Submitted May 31, 2021 at 04:46PM by Bitcoin_is_plan_A https://bit.ly/34vdRWM
They can’t stop printing
Tell your mining pools to stop building on top of Marathon blocks. Bootlickers like them are not welcome. The faster we bankrupt Marathon, and signal to others that we do not support authoritarianism, the better.
Submitted May 30, 2021 at 11:36PM by Bitcoin_is_plan_A https://bit.ly/2SGYnwa
Mentor Monday, May 31, 2021: Ask all your bitcoin questions!
Over the past weeks we heard a lot of news coming from China about another Bitcoin ban, miners gone offline and it was reported that the Chinese State Council was cracking down on mining...
The bitcoin racing car will be starting on the front line of the Indy 500 today. Let’s go win a race!
Submitted May 31, 2021 at 09:40AM by Poetic_Jabberwocky https://bit.ly/3yOeJUk
Sunday, 30 May 2021
Bank calls the cops on a 60 year old man who wanted to withdraw all his money to invest it into crypto lol we need more people like this guy! He gets it!
Submitted May 31, 2021 at 10:54AM by blizzyblake23 https://bit.ly/2SJPim9
Bitcoin Actually Uses WAY Less Energy Than the Banking System, a New Paper Says
Submitted May 31, 2021 at 09:49AM by BashCo https://bit.ly/3wDUXJg
The bitcoin racing car will be starting on the front line of the Indy 500 today. Let’s go win a race!
Daily Discussion, May 31, 2021
“According to the report, $3.2 billion of Bitcoin was sold at a loss last week after being acquired in the previous 4 to 13 weeks.” -Noobs lol....
“... explains that whales bought 77,000 bitcoin last week, now worth over $3 billion.” -Pros lol....
Submitted May 31, 2021 at 06:40AM by AcidAlchamy https://bit.ly/3p3U5uZ
Bank calls the cops on a 60 year old man who wanted to withdraw all his money to invest it into crypto lol we need more people like this guy! He gets it!
Bitcoin Actually Uses WAY Less Energy Than the Banking System, a New Paper Says
Shoutout Rinus VeeKay and Ed Carpenter for supporting Bitcoin! I got to see them live today at the Indy 500. VeeKay actually led a good portion of the race! 5M+ people just saw the future at 230MPH 🏎💨
Submitted May 31, 2021 at 05:40AM by jolivarris2 https://bit.ly/3wOSgVv
“According to the report, $3.2 billion of Bitcoin was sold at a loss last week after being acquired in the previous 4 to 13 weeks.” -Noobs lol....
How many of you still plan to keep DCA and holding over the next 5 - 10 years?
R/Bitcoin is about to hit a massive milestone today (30 May 2021). Congratulations on three million subscribers!!!
Submitted May 30, 2021 at 04:28PM by Amber_Sam https://bit.ly/3wNIt1Z
USD is a shitcoin but,...
it has a strong consensus protocol called "Proof of force"
Everybody has to use it and anyone who would try to compete goes to jail or worse.
You cannot attack it unless you have more power than the most powerful army on the globe.
.
.
Edit: clarification
I think instead of attacking it it can be rendered obsolete by a superior coin which has better properties and cannot be stopped by force thanks to its decentralisation.
PoW - those who provide work gets the coins we want to buy and use voluntarily.
PoF - those who are friends with the owner of the shitcoin get the coins and we all must use it or we get punished
I
Submitted May 30, 2021 at 11:35AM by Emotional-Bunny-Hat https://bit.ly/2RWSpan
New Black Swan Bitcoin ATM In San Francisco 99 9th St San Francisco CA
Submitted May 30, 2021 at 12:05PM by Blackswanbitcoin https://bit.ly/3fSKMtH
3M Subscribers! Congrats everyone
R/Bitcoin is about to hit a massive milestone today (30 May 2021). Congratulations on three million subscribers!!!
Bitcoin Volume Surges Over $300 Million in Paypal
Submitted May 30, 2021 at 01:40PM by crypto_pub https://bit.ly/3wJR0CQ
The SEC has begun official review of SkyBridge and Fidelity's Bitcoin ETF applications
Submitted May 30, 2021 at 12:56AM by smmedianews https://bit.ly/3fwLmy8
I’ve invested more than I’m comfortable losing
I’m hearing this a bunch lately. “I wish I bought Bitcoin”
Instant and free international remittance via Bitcoin's Lightning Network. Goodbye Western Union.
Submitted May 30, 2021 at 03:13AM by patriceac https://bit.ly/3c41p4l
New Black Swan Bitcoin ATM In San Francisco 99 9th St San Francisco CA
Bitcoin Volume Surges Over $300 Million in Paypal
Saturday, 29 May 2021
This dip is hard proof that we are still early in Bitcoin.
This dip is hard proof that we are still early in Bitcoin.
Many people still don't understand that Bitcoin is king of all assets and those with Bitcoin are still early. How do we know this? The fact that people are selling, and selling because of mostly the same FUD we've heard since the dawn of Bitcoin. FUD such as China says X, US politician says Y and some bi-polar billionaire says BTC destroys the planet whilst holding $1.5b worth.
If anyone thinks Bitcoin is going to <$10,000 and will vanish off the face of the Earth does not understand Bitcoin and does not care about protecting themselves from tyrants, inflation amongst many other things.
As someone who has a fairly large amount of their net worth in Bitcoin, am I surprised by this dip?
At first, I'll admit, I was quite shocked. We've seen more institutions hop on Bitcoin, like Microstrategy, which refuses to sell a single Satoshi despite this dip. We've seen billionaire gold bugs like Ray Dalio announcing he has Bitcoin. My thought was, how are billionaires and large institutions buying Bitcoin but we are still seeing this dip?
However the answer is quite obvious when I look outside of the circle of educated people I follow on social media for their thoughts on Bitcoin I see many of the clickbaity, get-rich-quick videos when searching Bitcoin on YouTube and the XRP twitter cults, which encourage people to see the whole of cryptocurrency as a get-rich-quick scheme... no, I can't say I'm that surprised that weak hands are selling, because they only bought BTC to get rich within a week.
I'm backing up the truck, working hard than ever to get income flowing and buying this dip so I don't regret not having enough again for the next, (imo) inevitable bull run. If Bitcoin has taught people anything, it's to be patient. Remember, the richest investors are dead investors or investors who forget about their holdings. I may not see huge gains tomorrow, but my son will thank me for this, I know it.
Submitted May 29, 2021 at 10:01PM by StubbornGoldBug https://bit.ly/3fZCGj7
USD is a shitcoin but,...
The story of the McDonald's applicant came true, but with different version.
Hey there, well, we all know about those memes that when there is a big crash the holder applies for a Mc Donald's job. Well, I sm one of those who bought at almost ATH, I'm still holding but I started doing Deliveroo (and soon Uber), delivering food with my car to try to leverage my spending in crypto. If this dip goes long, I will DCA, and I will see beautiful gainings in the future. What is most important, I'm not at home staring at the charts and feeling depressed, I go out, breath fresh air, see people, deliver food, earn tips, and come back home having done something.
Edit: I've done 103, 48 Australian dollars in two nights!!
Submitted May 29, 2021 at 06:31PM by FacundoGabrielGuzman https://bit.ly/3c2I83x
Bitcoin is the Fastest Asset to Reach a $1 Trillion Market Cap
Submitted May 30, 2021 at 02:33AM by OkEconomist4491 https://bit.ly/2R3hVdF
Daily Discussion, May 30, 2021
Daily Discussion, May 29, 2021
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!
If you don't get an answer to your question, you can try phrasing it differently or commenting again tomorrow.
Join us in the r/Bitcoin Chatroom!
Please check the previous discussion thread for unanswered questions.
Submitted May 29, 2021 at 01:02PM by rBitcoinMod https://bit.ly/34qnTbR
PSA: Mining Difficulty DROPPING 16% in a few hours. Good time to move coin and open Lightning Network channels
Edward Snowden: $6 Trillion Stimulus? Good For Bitcoin
Submitted May 29, 2021 at 11:07AM by cryptogik https://bit.ly/3fUqLD4
Bitcoin is the Fastest Asset to Reach a $1 Trillion Market Cap
So I finished reading The Bitcoin Standard and Blockchain Revolution...
..and I feel like I’ve echo chambered myself into feeling like I discovered the greatest monetary “secret” in the world.
Can someone suggest any contrarian ideas? Any educated articles, books or people who have legitimate arguments about how Bitcoin could be disrupted. How another idea could usurp before BTC even reaches maturity?
I need to stay rational because I’ve entered a state of euphoria that’s clouding my judgment.
Submitted May 30, 2021 at 01:11AM by Chewie_Defense https://bit.ly/2RUgCOI
Michael Saylor just put together a great resource for Bitcoin education. Check it out.
Submitted May 29, 2021 at 04:38AM by DeliciousDelicious1 https://bit.ly/2R7S5FA
The US dollar looks like a sh*t coin from crypto’s perspective
The Indy 500 will see the debut of the first Bitcoin-sponsored racing car
Submitted May 29, 2021 at 05:44PM by smmedianews https://bit.ly/3c40T6r
So I finished reading The Bitcoin Standard and Blockchain Revolution...
Paypal's Bitcoin volume exceeds $300 million
I could only laugh because they’re going to miss out big.
Laser eyes = focused on the problem, not the distraction
Submitted May 29, 2021 at 08:46PM by xcryptogurux https://bit.ly/3p6b7bN
A short story about the money you use
Submitted May 29, 2021 at 01:41PM by SohailKhanzada https://bit.ly/34v7jaw
Laser eyes = focused on the problem, not the distraction
The Indy 500 will see the debut of the first Bitcoin-sponsored racing car
Old soap: China has banned Bitcoin 5 times since 2013
Submitted May 29, 2021 at 05:54AM by thefoodboylover https://bit.ly/3yXu3ya
A short story about the money you use
PSA: Watch out for people posting sob stories about selling their crypto
Lately we have seen a lot of people posting here where they claim to have been forced to part with their crypto due to some sad story. These are obvious attempts to get people to feel sorry for them and throw some crypto their way. Do not fall for these lies. Beware of scammers.
Edit: Also look out for people attacking this post. If you look at their history you will find that they are actually very much against Bitcoin. They are using the sob stories to spread FUD.
Submitted May 29, 2021 at 07:38AM by mannix_marauder https://bit.ly/3fTALwf
Raise your hand if your house sounds like a freight train......here’s to the small time BTC miners coming correct and doing our part to maintain the decentralized network. Let’s go BTC community!!
Submitted May 29, 2021 at 09:28AM by beedub83 https://bit.ly/34sH84l
Friday, 28 May 2021
Raise your hand if your house sounds like a freight train......here’s to the small time BTC miners coming correct and doing our part to maintain the decentralized network. Let’s go BTC community!!
Daily Discussion, May 29, 2021
PSA: Watch out for people posting sob stories about selling their crypto
The Incredible Rise of Bitcoin. All time BTC price chart shown in 63 seconds. Background inspired by Edvard Munch.
Submitted May 29, 2021 at 06:27AM by deepcryptoart https://bit.ly/3vyLYZI
PSA, if you're clicking on and sharing bitcoin fud articles, you're part of the problem.
Literally, the only reasons hack "journalists" keep writing fud articles is because of the click traffic their shitty reporting receives. Stopping this trend is even easier than voting with your wallet, simply stop clicking on bunk, fud articles.
Submitted May 29, 2021 at 06:07AM by Bitbuyer313 https://bit.ly/3vxoYuh
Coming out to my parents as a bear
Submitted May 29, 2021 at 06:41AM by chocoduck https://bit.ly/3c0IbwL
Confirmed: Bitcoin just taking a pit stop and refueling.
Submitted May 29, 2021 at 03:08AM by sonofenrico https://bit.ly/2SGlEOE
The Incredible Rise of Bitcoin. All time BTC price chart shown in 63 seconds. Background inspired by Edvard Munch.
Coming out to my parents as a bear
About $2.1 Billion in Bitcoin Options Expired Today
No One Can Shut Down Bitcoin, Says Binance CEO CZ
Submitted May 28, 2021 at 07:05AM by samplebeast https://bit.ly/3c2ZAVr
I finally own HALF a bitcoin!
After weeks of day trading and losing money I finally have over 0.5 BTC in my accounts.
And it only took a high interest loan to get here, I'm currently down 9% cause bitcoin fell to 35 500$.
Submitted May 28, 2021 at 05:46PM by WilqGmo https://bit.ly/3wEtUxt
Riot Blockchain’s Ceo "I’m A Believer In The Long-term Utility Of Bitcoin (BTC)"
One After Another, Each Billionaire Will Eventually Endorse Bitcoin. This Time, It’s Carl Icahn. The success of Bitcoin is inevitable.
Cathie Wood says Elon Musk will eventually prove positive for bitcoin - and predicts central banks will begin adding crypto to their balance sheets
Submitted May 28, 2021 at 08:30PM by SensationallylovelyK https://bit.ly/3fWlElX
Richie rich
PayPal will soon let you exchange Bitcoin across third-party apps
Cathie Wood says Elon Musk will eventually prove positive for bitcoin - and predicts central banks will begin adding crypto to their balance sheets
China FUD hits next level
Submitted May 28, 2021 at 06:00PM by vvillehelm https://bit.ly/3ftf33p
WTF Happened In 1971?? a few charts representation on why economy is so good in the books but in the real world it sucks, guess who's fault it is?
Submitted May 28, 2021 at 09:55AM by LukeAeon https://bit.ly/2R1oGgc
I finally own HALF a bitcoin!
Is it just me, or is this sub allowing only bullish posts and avoiding anything that might be slightly bearish?
China FUD hits next level
Banning crypto to stop hackers is like banning Canadians to stop Bieber.
It's true, Bieber must be stopped. But it won't work goddamnit - plus, Canada brought us Jim Carrey, Keanu Reeves and Celine Dion! They invented IMAX! Jockstraps and the Walkie-fucking-talkie! Furthermore... I can't remember what I was talking about. THREE CHEERS FOR CANADA!
Submitted May 28, 2021 at 07:04AM by Karma_Circus https://bit.ly/3fsyQ2T
Billionaire investor Carl Icahn is eyeing a potential $1.5 BILLION dollar investment in bitcoin
Submitted May 27, 2021 at 11:26PM by justHODLbaby https://bit.ly/3wvfi3w