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Alan
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Joined: December 19th, 2001, 4:01 am
Location: California
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### Re: End of bitcoin?

Here's an example of how the meme token game can end  (details)

ExSan
Posts: 4683
Joined: April 12th, 2003, 10:40 am

There are more than 2500 crypto "coin", in fact get ready for the next one: Ex$an, why not?¡ know how is available in the cloud. Alan Topic Author Posts: 10872 Joined: December 19th, 2001, 4:01 am Location: California Contact: ### Re: End of bitcoin? The trial of Kleiman vs. Wright is now ongoing in Miami. Craig Wright claims to be Satoshi Nakamoto, the creator of bitcoin. Many people are doubtful, but his claims are not just the claims of a single person: for example, see Exhibit A: Interview with Stefan Mathews But, let's hear from the skeptics: Exhibit B: Private Presentations Aren't Proof, and why Craig Wright is not Satoshi Nakamoto (James Tsetsekas) Which Exhibit do you believe? I think this is fascinating because the reputational and economic implications are rather profound -- whichever one is true! p.s. The premise of the trial is that CSW is Satoshi; both sides apparently agree on that, at least for the purpose of the trial which is to decide if Wright and Kleiman (now deceased) had formed a business relationship. trackstar Posts: 28098 Joined: January 1st, 1970, 12:00 am ### Re: End of bitcoin? Looks like it's Black Friday for Bitcoin (and other cryptos)... Bitcoin is down more than 20% from its all-time high of$68,990 on Nov. 10 - Market Watch Nov 26

Still nice as a Christmas ornament though!

Alan
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Posts: 10872
Joined: December 19th, 2001, 4:01 am
Location: California
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### Re: End of bitcoin?

So, we have a Bitcoin Santa and there is evidently a Bitcoin Jesus.
I still haven't decided about CSW, but he certainly will ultimately earn a place at the very top or the very bottom of the bitcoin pantheon.

Or .. maybe both at once!

trackstar
Posts: 28098
Joined: January 1st, 1970, 12:00 am

### Re: End of bitcoin?

"It's hardball world, son." Indeed, and you don't see this very often.

Market Summary > Bitcoin
54,322.80USD
+53,555.82 (6,982.69%) past 5 years (Since December 2, 2016)

(and it's still a very expensive tulip/ornament!)

Alan
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Joined: December 19th, 2001, 4:01 am
Location: California
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So, Kleiman vs. Wright concluded with the jury awarding the plaintiffs $100 million from Wright. If Wright is indeed Satoshi Nakamoto and controls the roughly 800,000 Nakamoto bitcoins (a figure from a CSW court filing if I recall), then paying should not be a problem. If he's not, and doesn't have the funds, then that's another story. We'll see what develops ... Paul Posts: 11574 Joined: July 20th, 2001, 3:28 pm ### Re: End of bitcoin? He either is or isn't Satoshi Nakamoto. And he either wants to prove it, or now wants to deny it, or wants to be mysterious. So pay, appeal, disappear,...! snowde Posts: 9 Joined: December 14th, 2021, 4:15 pm ### Re: End of bitcoin? In my opinion the electricity consumption poses a much larger threat to Bitcoin as opposed to exchanges, governments, and institutions, energy usage has become a cultural issue, and culture is the important dynamic at play for the acceptance of currency. You can track the energy usage here, https://ccaf.io/cbeci/index -- The Cambridge Bitcoin Electricity Consumption Index (CBECI) provides a real-time estimate of the total electricity consumption of the Bitcoin network. tagoma Posts: 18915 Joined: February 21st, 2010, 12:58 pm ### Re: End of bitcoin? Carol Alexander, professor of finance at Sussex University, said she expects bitcoin to tank to as low as$10,000 in 2022, virtually wiping out all of its gains in the past year and a half.

“If I were an investor now I would think about coming out of bitcoin soon because its price will probably crash next year,” Alexander said. Her bearish call hinges on the notion that bitcoin “has no fundamental value” and serves as more of a “toy” than an investment.

CNBC (Apologies for the source)

kc11415
Posts: 430
Joined: March 16th, 2003, 10:02 pm
Location: United States

### Re: End of bitcoin?

Gold and other precious metals do not depend upon some 3rd party to do a transaction between a buyer & seller.
There does exist a mechanism of attack upon the functioning of the Internet that will be more disruptive than anything seen so far.
Thing is this attack is M.A.D. (Mutually Assured Destruction).  Anyone who launches this attack also runs a good chance of cutting themself off.  The strategic calculus then becomes whether the "own goal" suffered by an attacker is less than the impact to one's enemies. Putin could decide that the suffering inflicted upon the west is strategically more advantageous the suffering he incurs from such an attack.
The internet will be repaired after such an attack.  However, once blockchain investors learn how exposed they are, many (not all) will run for the exits.  That will dramatically drive down the exchange rates for BTX, though probably nowhere near to zero.
Hypothetically, let's assume the above analysis is correct.
If so, then what do you think about the following:
If there were an FX options market you really really trusted with truly reliable clearing,
then would it be worth considering something where you buy puts with strikes closer to current market and sell puts lower than that strike?
That's a question, not a suggestion.
If so, what FX options venue do you consider to have reliable clearing?

kc11415
Posts: 430
Joined: March 16th, 2003, 10:02 pm
Location: United States

### Re: End of bitcoin?

Well, that was quicker than I expected."Bitcoin is now trading below its 200-day moving average (DMA) for the first time since September"

kc11415
Posts: 430
Joined: March 16th, 2003, 10:02 pm
Location: United States

### Re: End of bitcoin?

kc11415
Posts: 430
Joined: March 16th, 2003, 10:02 pm
Location: United States

### Re: End of bitcoin?

Looking at the sheer diversity & naming of cryptocoins is nothing short of a Monty Python skit about Tulip mania.
This makes the OTC pink sheets look downright blue chip https://finance.yahoo.com/cryptocurrencies/?offset=0&count=100
To put this in context, the price/unit & market cap of gold is not convenient for all investors, so alternative precious metals include platinum, silver, exotics (palladium, rhodium, etc).
Now imagine if somebody came up with a way to keep minting an unlimited number of new variants of precious metals.
That seems to be the situation with cyptocurrency.

Marsden
Posts: 3874
Joined: August 20th, 2001, 5:42 pm
Location: Maryland

### Re: End of bitcoin?

I was particularly impressed with this part from your link: "1-100 of 4919 results"

It has probably already been done (see "4919" above), but I think there's a strong potential for a scam um, business opportunity in creating cryptocurrencies one letter off from popular existing currencies. So "Betcoin," "Batcoin," "Botcoin," and "B!tcoin."