Written by Tech World in Uncategorised
Nov 11 th, 2020
Green’s point was that, instead of pointing the finger at people who still haven’t bought any ripple or monero, the crypto community should turn it on itself. Yet what was interesting about the debate that ensued wasn’t its discussion of whether ‘nocoiner’ is a worthwhile piece of jargon. The cryptocurrency world is no stranger to elitism. If you own any bitcoin, you would be best to sell what you can now, or at the very least, sell enough to get back your initial investment. Remember, two thirds of bitcoin investors in the 2017 bubble didn’t get around to getting any of the money back that they had put in—don’t be one of those guys.
On December 11, 2020, MicroStrategy announced that it had sold $650 million in convertible senior notes, taking on debt to increase its Bitcoin holdings to over $1 billion worth. On December 21, 2020 MicroStrategy announced their total holdings include 70,470 bitcoins purchased for $1.125 billion Binance blocks Users at an average price of $15,964 per bitcoin. Saylor, who controls 70% of MicroStrategy’s shares, dismissed concerns by observers that the move is turning MicroStrategy into a Bitcoin investment firm or exchange-traded fund . In other words, you don’t have to hold or even like bitcoin.
The history of Bitcoin in 2017 is mostly told as a success story. The unstoppable price increase has finally sparked a hype. The blockchain, the technique underlying every cryptocurrency, is a buzzword nocoiner of the year. Start-ups attract investors with Initial Coin Offerings , the banks in turn gamble or warn of a bubble. Since December, Bitcoin futures can be traded on the stock exchange.
Any longterm position in Tether is effectively against BTC . Furthermore, Tether has a market cap only 1/16 of BTC. You can say either are flawed individually, but their valuations are independent. Forks of Bitcoin have already happened multiple times. Bitcoin Cash and Bitcoin SV also claim to be the original Bitcoin, but the mainstream view is that the chain with the highest hashpower, https://www.binance.com/ highest trading volume and highest price is the real Bitcoin. Which chain is the real Bitcoin is entirely determined by the community and I don’t see a plausible future where a sizeable chunk of the community agrees to increase the max supply. MicroStrategy later added $175 million of Bitcoin to its holdings in September 2020 and another $50 million in early December 2020.
It is better to distinguish a thoroughbred horse, what he calls the internet and bitcoin, from flies annoyingly humming around the horse, which were Pets.com as well as Mt. Gox in real life. Additionally, the editor said that nocoiners don’t merely discredit the possibilities of this currency, but they also make fun of bitcoiner’s evangelical passion. But Hochstein adds that nocoiners are not just pessimistic about BTC, they usually inevitably claim that bitcoin will undoubtedly face the failure. In other words, far from being a criticism of people who don’t own any cryptocurrency, ‘nocoiner’ stands as a criticism of a community that, for a variety of reasons, isn’t able to convert enough people to its cause. Placed by Cointelegraph, a media company, this ad beamed the term “nocoiner” and its definition (“someone who has no bitcoin”) to the 330,000+ people who traipse daily through the iconic Manhattan intersection.
Equivalent tech to XRP existed long before Bitcoin and when used to run currencies like e-gold they were simply shut down easily. If that was an option with BTC the US would have done it a long time ago. It was not recognized in any way at all until they gave up trying to kill it directly which opened the door for scams like XRP to survive in the regulatory vacuum. central bank digital currencies will be the real thing while bitcoin stagnates. He’s focused on the parts he recognizes and ignores the parts he doesn’t understand which are the only important parts. BTC is not a currency or investment vehicle or whatever, it’s a completely new technology. Basically the only thing the technology does is try to protect against exactly the scenarios he thinks are inevitable.
I’ve spoken with several notable bitcoin skeptics, gathered their thoughts, and compiled a list of new year predictions. They shared their prophecies on Tether (a stablecoin issuer that has so far minted $21 billion in dubiously backed assets to pump the crypto markets), new regulations and the future of bitcoin. Focusing on the negative aspects and neglecting the upsides of what cryptocurrencies have unlocked for millions of people worldwide is short-sighted.
Miners reap 900 newly minted bitcoin per day in the form of block rewards. If they can’t sell those for enough fiat money to pay their monstrous power bills, it makes no sense for them to stay in business. And since their job is to secure the bitcoin network, bitcoin will become vulnerable to repeated attacks. We have had to endure Tether minting tethers with abandon ($17 billion nocoiner worth in 2020 alone) and bitcoiners obnoxiously cheering bitcoin’s new all-time highs, the latest being $33,000. Considering bitcoin began 2020 at around $7,500, that is a long way up. (Things went full crazy in March.) But we believe 2021 will be a year of comedy gold when this giant hill of dung all comes tumbling down. You can’t force other people to transact with you.
Weaver has been following bitcoin since 2011. His work is largely funded by the National Science Foundation. He believes the bitcoin ecosystem is running low on cash.
He’s still talking about cashie memes in 2020, no awareness about the subject. Their general council filing on the record for 74% is a pretty solid indicator they have 74% worth in actual cash. Which is again not even a legal requirement for them to begin with so this entire talking point is retarded. Bitfinex got hacked and they offered people Tether as literal IOUs instead of real dollars. I bought 2 btc at $20k but of course I know that the jews wont let this continue forever.
I’ve been in and out of the market since then of course, but I still regret selling the six I bought (10$ total) during the first major spike, for 250$ each. You’d be surprised how many people’s biggest Btc to USD Bonus worry is that they won’t be able to convert it to cash or think it’s super hard to do. It’s almost like they think once you put cash in, it’s like a black hole that won’t ever spit anything out again.
Some figures active within the crypto community were excited to see its culture being given such prominent exposure, and they congregated to social media to voice their approval. At some point, as Weaver stated, there won’t be enough suckers left in the wings waiting to buy bitcoin—and when that happens, bitcoin holders will learn the hard way that price charts and market caps are meaningless. Btcoin TOPS 34000$ As for my own predictions, I think bitcoin is on the brink of a stupendous crash. Whales and the Tether/Bitfinex triad are working over time to push the price up higher and higher. As more fake dollars flood the system, real dollars are being siphoned out by the big players. Roubini famously warned of the 2008 financial crisis, a prophecy that earned him the moniker “Dr.
Doom.” He is also known for his parties, which leads a few of us https://beaxy.com/s to believe that bitcoiners’ are fundamentally driven by bitterness over the fact that we have better soirées. Since 2018, the New York Attorney General has been investigating Tether and its sister company, crypto exchange Bitfinex, for fraud. Over the summer, the New York Supreme Court ruled that the companies need to hand over their financial records to show once and for all just how much money really is underlying the tethers they keep printing. The NYAG said Bitfinex/Tether have agreed to do so by Jan. 15.
What Golumbia finds most interesting is that the rising price of bitcoin and other tokens sustains the lies. “I have to imagine that when the tokens collapse, the motivation to keep lying will go away as well,” he said. The cause of bitcoin’s upcoming crash, she believes, will be an epic battle between the Wild West of crypto and regulators, a topic she covered in a recent Coindesk article. Scarcity is a key part of the myth bitcoiners perpetuate to make people think bitcoin is valuable in the same way gold is and to create a sense of buying urgency—quick, grab some before it’s all gone! —so naturally, bitcoiners responded by dog piling on her. Also, governments are finally waking up, said Weaver, alluding to new global efforts to clamp down on money laundering, capital outflows, and the financing of terrorism via cryptocurrencies.
At the same time, the company promotes a lot and actively and for some time demonstrates activity. It is worth noting that often PR managers and even developers do not know that they are involved in creating a fraudulent scheme. It is someone who does not sell but rather holds on to their Bitcoin or another cryptocurrency. Nocoiner is a person who does not have Bitcoin. Nokoiners are people who missed their opportunity to buy Bitcoin at a low price because they thought it was a scam and thus missed out on the profit.
When the stock market crashed, I was able to buy an expensive vintage wristwatch from a very well-known brand for half its normal price. Despite selling at a discount, the watch’s previous owner still made a profit. As investors, we often see stories about nocoiner people losing their life savings on Blockbuster or MoviePass. Or we hear about manias where everyone buys at the peak, mistiming the market. Interest rates are at all-time lows, with many savings accounts and money markets paying less than 1% interest.
Probably because it’s used with all kinds of tokens. You’re the retards supporting a valueless piece of shit token.
This happened on the verge of a new millennium, right at the time when the world was experiencing the dot-com boom. “The people you told about Bitcoin may turn on you and assault you. You might be accused of witchcraft and thrown down a well, or worse. The mind of a nocoiner is a dangerous place.” In his column for Coindesk, Marc Hochstein, the managing editor of this media outlet focused on cyber assets, brings to the point another issue with nocoiners. And it is not that they merely don’t want to purchase digital coins.
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