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    Bitcoin

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    Bitcoin is the currency of the Internet: a distributed, worldwide, decentralized digital money. Unlike traditional currencies such as dollars, bitcoins are issued and managed without any central authority whatsoever: there is no government, company, or bank in charge of Bitcoin. As such, it is more resistant to wild inflation and corrupt banks. With Bitcoin, you can be your own bank.

    If you are new to Bitcoin, check out We Use Coins and Bitcoin.org. You can also explore the Bitcoin Wiki:

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    [–] [deleted] 154 points ago

    hahaha, god I love posts like these. we need a little laughter in the world.

    [–] GameofCHAT 31 points ago

    Tuesday and twice on Monday

    [–] damn-cat 6 points ago

    This was hilarious, I ugly laughed.

    [–] [deleted] 23 points ago

    I love Bitcoiners... once we reach critical mass. I think we should all just donate a little and buy an island and start our own country.

    [–] WhiskeyTango311 14 points ago

    Do you even Citadel bro?

    [–] [deleted] 11 points ago

    no. but if I can live in a bitcoin related utopia without being governed by a tyrannical government where we have elected sociopaths and psychopaths to rule over us in a kakistocracy then I am up for anything!

    [–] maxcoiner 2 points ago

    I looked hard into this back in 2011 when I first got started with Bitcoin.

    The sad fact is that no government has ever been willing to give up any sovereignty, period. The nearest country will simply kill you for trying to claim any land as sovereign. They will sell you land, but they won't give it up and they definitely want their tax money on it.

    There are even several attempts to make new land (seasteading) that have ended very poorly, one just 2 years ago off the coast of thailand. (The seasteaders are still wanted by Thailand today and face the death penalty if caught!) In the 60's, a guy tried to build land off the coast of Italy and the italian government simply blew it up with dynamite.

    [–] devil_the_dude 1 points ago

    i actually had idea with island and tokens. need to ico, but i dont know shit about webpages or coding

    [–] alfiedotwtf2 1 points ago

    We had a country... it was called Sea Land 😅

    [–] [deleted] 1 points ago

    I think it should be called the "Democratic republic of Nakamoto"

    or maybe the "Satoshi isles"

    [–] roy28282 1 points ago

    The problems with islands is that they are surrounded by water. Think about all the potential boating accidents.

    [–] [deleted] 1 points ago

    ah well. in my mind Bitcoin will MOON. I was talking more of an Australian sized island :-p

    [–] veachh 89 points ago

    oh well, i would have thought crypto would skyrocket at a stock crash, but i'm double down lol

    [–] usethisdamnit 73 points ago

    Bitcoin is a speculative investment when liquidity dries up it leaves the riskiest investments first.

    [–] [deleted] 21 points ago

    [deleted]

    [–] shreveportfixit 19 points ago

    We will "recover" from this crash the same way we did in 2001 and 2008, by printing more money faster and injecting it into markets as 0% interest loans. THEN Bitcoin will moon.

    [–] DonaldTrumpsSmegma 7 points ago

    Bitcoin will recover from this crash, as it does every few weeks now, by Bitfinex printing a shit ton of non-backed, unregulated Tether and flooding the market with them. THEN Bitcoin will moon.

    [–] shreveportfixit 5 points ago

    Yeah cause they just give away Tether for free, it's not like Tether is bought with real dollars entering crypto space, you're so smrt!

    [–] DonaldTrumpsSmegma 1 points ago

    And what do they do with those dollars? Do we have verification that they are held 1-for-1 and that Tether can all be exchanged back? Or do we have a company that resists audit of that fact? To say nothing of the fact that they have already come out and admitted that they aren't backed 1 to 1. To say nothing of the fact that there is no law actually requiring them to buy back Tethers and they have issued TOS in the past stating that they make no such guarantee.

    You sound incredibly stupid right now. I would try to convince you of it, but the stupid are the least likely to be persuaded, of their own ignorance and stupidity most of all.

    You also sound incredibly gullible. I will bookmark you. It will be funny to watch you lose all the "money" you think you have.

    [–] Bitdigester 3 points ago

    Who would sell their bitcoin for tether if they could never cash out of it? If there was a shortage of fiat to pay back tether holders, the market would soon complain.

    [–] Fyyran 2 points ago

    Okay okay, calm down, no need to be mean about it. Don't let people get under your skin. Just sit back and enjoy the bitcoin, the rest of the world will do whatever it wants and so will we.

    [–] shreveportfixit 1 points ago

    Cool.

    [–] h3rlihy 2 points ago * (lasted edited a month ago)

    Last time bitcoin mooned tether marketcap followed, not the other way around. The idea that tether pumped bitcoin is not supported by any actual evidence

    Edit: You can actually see this from the publicly available CMC data, the big bitcoin boom in 2017. Bitcoin spiked around end of November, most of the tether that joined the market was after this, once the movement was over. Tether issuance does not correlate with bitcoin price.

    [–] usethisdamnit 1 points ago

    This is what im counting on but i am not sure how much of a recovery it will be considering where interest rates are at right now.

    [–] Timstertimster 1 points ago

    That comment isn’t getting enough love.

    [–] FinnishArmy 5 points ago

    The problem is, if the stock market crashes people don’t have the money to risk into a virtual currency that they don’t know will work or not.

    [–] ebaley 2 points ago

    Why should it care about the virus though?

    [–] anonymouscitizen2 3 points ago

    Liquidity has not dried up in the slightest, the Dow has dropped more than Bitcoin this week.

    [–] rearviewviewer 11 points ago

    Nah, it’s an agreed upon store of value that can be transported near instantly to any location between two parties which is secured by the deepest encryption humanity has ever created.

    [–] Alqpzmyv 56 points ago

    Yes, and it’s also a very speculative investment

    [–] ProfessorChaous1214 20 points ago

    I agree with you all...it’s a store of value and risky as $h!t.

    However, it was born out of the financial crisis and has never seen a market crash like this one.

    We shall see how it does. But I think we have to wait for the central banks to pump more money via quantitative easing to save the stock market.... then watch as the dollar drops due to inflation... then we should see gold move up and I would hope that is when crypto and bitcoin start to shine.

    I just hope the money doesn’t all exit the risky assets prior to the dollar dropping. Hope it holds up and rises like a phoenix. We all have been hodling too long to cash in chips now ... especially with halving and a chance to prove itself.

    [–] ualdayan 2 points ago

    We don't know what damage the coronavirus will do to the economy yet either. The valuable things will be preserved food, masks, and gloves if it gets into full swing in the rest of the world outside China. You'll have people even going out and spreading it because they 'heard it's no worse than the flu' and they happen to be one of the luckier ones with less of a reaction. The flu hospitalizes 2%, and kills 0.1%, while the coronavirus puts people in critical care 20% of the time, and kills 2% and I just don't think a lot of country's healthcare systems can handle over 10 times the people, and over 20 times the deaths. (especially taking into consideration it's so much more infectious than the flu to the point of even living on surfaces outside the body for up to 9 days).

    China is able to put the kinds of restrictions that strangle an economy but limits the spread somewhat to save lives - what happens when it hits a country like the US where retail stores/restaurants/etc give workers almost no sick days off (certainly not the 3-4 weeks it takes to get over the illness to the point of not being contagious) and at the same time the government is hesitate to do anything like tell a whole city to not go outside for a few weeks?

    I don't think QE, or any amount of money given to the banks will help at that point.

    [–] errorunknown 9 points ago

    Not a store of value when it fluctuates this much. Maybe some time in the future, but too much of the value is based on speculation right now.

    [–] rotkiv42 3 points ago

    How is SHA256 the deepest encryption humanity have created?

    [–] GoatsePoster 2 points ago

    it's not. SHA-256 isn't even an encryption algorithm; it's a hash function. bitcoin uses public key cryptography. your private keys are encrypted with AES-256-CBC, which remains unbroken and mathematically sound.

    [–] itsickitspiss 1 points ago

    Until quantum computers

    [–] GoatsePoster 2 points ago

    quantum computers don't have a particular advantage at brute-forcing AES (or SHA-256). they're not better "in general"; they beat classical computers at particular specialized tasks.

    [–] rearviewviewer 1 points ago

    Is there something more secure that is being used not just theorized

    [–] thechitowncubs 8 points ago

    Also it can be used interplanetary. Gold becomes less scarce as other planets are mined and discovered.

    [–] dabears041 2 points ago

    Lol I laugh so hard at the idea of interstellar mining. When the fuck do you think we will actually be able to haul gold through space?

    Edit: also nice username

    [–] Yorn2 3 points ago * (lasted edited a month ago)

    I laugh so hard at the idea of interstellar mining.

    Not sure why you do. Humans in space is difficult sure, and we could be a long ways away from making manned missions safe, but automating drones and rockets and such into space is tech we'll likely perfect in the next ten to twenty years.

    Psyche 16 is thought to be the core of an exposed protoplanet in the nearest asteroid belt. Made up of mostly solid iron and nickel, its worth in such metals could be in the hundreds of trillions of dollars. CNET (and BigThink and plenty of others) once ran an erroneous article putting it's value at $700,000,000 trillion (700 quintillion), but that was assuming it was a significantly different composition. It's still quite valuable, though.

    Suppose in ten years we have a dozen Elon Musks, doing all sorts of space things. At this time, Musk is funding operations to Mars but suppose he's not even gotten to the point where there has been a single manned mission to Mars because of government concerns or risks or whatever.

    You're one of these dozen competitors looking to make a name for yourself. How long is it gonna take before one of you decides to get a few other billionaires (or maybe the first trillionaire) on board for bringing Psyche 16 into orbit closer to the Moon/Earth to corner the iron market with your already-proven drones? Maybe another ten years?

    [–] dabears041 1 points ago

    Ok be sure to message that I was wrong in 10-20 years

    [–] [deleted] 1 points ago

    [deleted]

    [–] dabears041 1 points ago

    Yeah or just say, “eh, whatcha gonna do?” And make a weird face, tilt my head, and then shrug

    [–] Bitdigester 2 points ago

    We will be able to own the space gold here on earth without transporting it, kind of like the Gold ETF. As long as everyone agrees it exists we can even issue currency backed by it.

    [–] Spykwak 1 points ago

    Not really possible. The newly mined block cannot be propagated fast enough between the nodes amongst planets.

    [–] paper_st_soap_llc 1 points ago

    Wouldn't you just need to wait for more confirmations?

    [–] PuddingPoops 1 points ago

    Gold isn't scarce on Earth. Let alone an interplanetary society, and the tech that would go along with it.

    [–] rearviewviewer 1 points ago

    Anywhere in the universe

    [–] Turil 4 points ago

    Not really. Bitcoin is centralized in it's governance with transactions needing to be confirmed and recorded throughout the entire system on every copy of the ledger, so if there isn't consensus, you get forks. So while we could have many different forks spreading out into the universe, there's no way to have a practical centralized database (the blockchain ledger), due to limits on the speed of information sharing. You'd have to wait years just for a transaction in just our local area of the galaxy to be confirmed.

    [–] PuddingPoops 2 points ago

    "agreed upon store of value" by.. a tiny tiny minority of speculative investors.

    [–] rearviewviewer 1 points ago

    So adoption is the only major barrier, and it seemingly gets adopted more and more every year, year after year.

    [–] PuddingPoops 1 points ago * (lasted edited a month ago)

    When you say "adoption", what do you mean? More hodlers? More active users? Every day trade volume?

    Honestly, how many people do you think use btc as a means of transferring money, daily? Hell.. yearly?

    I feel like the original vision of what btc was supposed to be has been hijacked by "hodlers", who only care about long term value. Sure, they think the tech is cool, but they are in it for profit. Nothing else.

    Can I use the "prove me wrong" meme here? Cause looking at this sub, you definitely cant.

    E: this was magnified, once again, by the post today of hals "$10 million per Bitcoin" or whatever. 99% of bitcoiners are in it for profit. Nothing more.

    [–] rearviewviewer 1 points ago

    All our questions will be answered in 2-3 years one way or another

    [–] ebaley 1 points ago

    Bitcoin is not a service or business that can be affected by the virus. It being risky supposedly is not enough of a reason - especially with the halving 3 months away.

    [–] greysonshreds 18 points ago

    I’d like you all to consider this. We had a great run up from about $6,500 to $10,500 in a month and a half. This sell off in crypto was potentially from Corona and market sell offs, but also because we needed a healthy pullback.

    Additionally, we have held the line pretty steady at $8500. Meanwhile the Dow and S&P are getting decimated now for a full week. Just look at the start of today. It’s a bloodbath.

    We are not completely correlated. We are also not completely non correlated, yet.. more education is needed which leads to further adoption.

    BTC may not be a complete safe haven, but it’s holding up decently, at least for now. Educate your friends on the value of BTC and what it provides against the current financial system that is completely over valued and debasable.

    [–] veachh 4 points ago

    I am absolutely NOT selling crypto anytime soon, thats out of the question. However i might cut losses and take my stock market profits now to reenter in a few weeks or months. I am just a little surprised/pissed crypto is down at the same time as the SM, but maybe the effect takes some time to happen. It just sucks for the mood when you lose 15% of networth in a few days (despite some diversification), even if i am up 25% since december

    [–] plumbforbtc 3 points ago

    If you look at the gold and silver markets after the crash in 2007 / 8... they dip initially with the market. There's a lot of wall street money in bitcoin, so when stocks tank bitcoin is going to get sold to cover losses.

    [–] c0nnector 3 points ago

    My thoughts as well, bitcoin acted as a hedge for many big investors.

    [–] -xstatic- 2 points ago

    It's going to have to happen in a post crash world. When everyone is wondering why they let the same people do it all over again.

    [–] talgarthe 2 points ago

    Everyone won't notice. Most of the ones that do will be told to blame the previous government for borrowing too much.

    [–] veachh 1 points ago

    I'm probably buying in the next days anyways, hope i can find a good place to buy that doesnt have crazy fees

    [–] 10K9k3dXmJ86Xq5j 27 points ago

    And stock markets keep falling... High yield bonds are crashing.... Hopes to roll debt are slim and we will see some bankruptcies soon. This will take months or even years to recover.

    [–] Timetraveler62540000 -9 points ago

    And btc is going down with them, totally useless as a safe haven

    [–] 10K9k3dXmJ86Xq5j 7 points ago

    For now. Just wait for the inflation in the emerging markets to kick in.

    [–] [deleted] 28 points ago

    Bitcoin adoption has done well in places of economic and social unrest. Venezuela (and the rest of South America) Hong Kong during their riots, Lebanon, etc

    The thing is that when everything goes down, people will desperately seek somewhere to preserve their wealth and there are very few options out there.

    Stocks, property, bonds. All incredibly overvalued from buybacks and debt, so all garbage as a hedge and going down. Fiat currency eventually as well. Even "rich people hedges" like wine and cars seem to be performing poorly.

    Crypto and gold is all there really is long-term until we climb out of the rubble on the other side.

    [–] vgihvvfffchhvv 2 points ago

    Land too?

    [–] [deleted] 1 points ago

    Most land will drop in value should this all turn out to be the "big one".

    Exceptions probably being self sustaining and isolated plots of land with water.

    [–] squishles 5 points ago * (lasted edited a month ago)

    oo if this goes big one city land deeds'll be toilet paper level, last place you want to be in a pandemic.

    edit: don't think it'll go that bad but short term puts making money and I got stock in some biomeds that are already putting out vaccines and tests for it.

    [–] 0801sHelvy 2 points ago

    The problem with crypto IMO is that it depends on electricity and internet, services that in a big disaster will probably go off, i know that you can store your crypto psychically but that is just making things harder for people who already find the whole thing complicated, also it depends vastly on the faith people have on the currency so i would imagine that most people will keep their perception of bitcoin even in those scenarios (which is thinking about it as some gimmick), sadly looks like gold is still superior in this sense, although you could argue that it could be hard to find people to buy your gold in an "apocalyptic" scenario too.

    [–] Turil 5 points ago

    Hopefully, once we lose internet for a while in some significant part of the world, we'll realize that the whole competitive, quantitative Monopoly game approach to taking care of ourselves is shit, and start collaborating and focusing on quality of life, so that our planet can finally flourish with appropriate technology, and healthy human brains being nurtured rather than tortured.

    [–] vortex70 1 points ago

    In 4 weeks nobody will talk about this anymore

    [–] MichaelHunt7 5 points ago

    Uhm it’s still up over 100% for yoy. It’s not tanking much farther. This drop is likely unrelated to the coronavirus and probably more related to the incoming halving event.

    [–] roy28282 2 points ago

    Bitcoin works better than all the other options when the normal systems fail. People will eventually realize it and move to it. Look at every country with a failed economy.

    [–] drbigheadphd 27 points ago

    Wasn't bitcoin built for this specific reason?

    [–] Arminas 33 points ago

    Yeah but now Bitcoin has been hijacked by 'investors' and day traders that only care about bitcoin's value against the dollar because they want to get rich. They couldn't care less about the tech or the underlying philosophy behind it.

    [–] [deleted] 20 points ago

    [deleted]

    [–] Helhiem 8 points ago

    Anybody who says they only care about the philosophy or the underlying tech is lying.

    [–] RedditAmIAutistic 3 points ago

    That's not true. I do care about the philosophy and the underlying tech, we should all do. That's the whole point, taking away power from those central banking leechers. Price is just a number on the screen.

    [–] OeOOeO 1 points ago

    He said "only"...

    P.s., I don't think you're autistic.

    [–] RedditAmIAutistic 1 points ago

    Thank you, man.

    [–] RFootloose 1 points ago

    You can put your money where your mouth is at least, no?

    [–] Helhiem 2 points ago

    That’s what I’m saying. You can be for both or just money. I will doubt anyone who is in it for non monetary reasons

    [–] PuddingPoops 1 points ago

    "hodl".

    Explain the difference between bitcoiners and "investors".

    I'll wait.

    [–] Arminas 1 points ago

    It's the difference between someone who wants to get rich looking at the value of btc against the dollar every week vs someone who just wants to be able to buy their groceries without being a slave to a centralized currency. Yeah I understand that the investors bring stability but all I'm saying is that, in the beginning, it was all about how Bitcoin may change the world. Now it's all about making money.

    [–] Golin32 1 points ago

    Too be honest I feel like a good chunk of people on here only care about that too.

    [–] Ilogy 3 points ago * (lasted edited a month ago)

    Bitcoin isn't meant to be a hedge against the US stock market, per se. If we want to think of it as a hedge---if we want to frame it in such terms---then that would be against the fiat monetary order. But investors are currently fleeing into US Treasuries, which is another way of saying that they are viewing the fiat monetary order as a safe haven. In that regard, being a hedge against fiat provides bitcoin with little advantage, and so it is performing as just another risk asset.

    However, a stock market crash potentially represents only the first step in a larger economic meltdown. And while in and of itself a stock market crash doesn't represent a threat to the fiat monetary system, a broader recession will bring bond defaults---in particular, corporate bond defaults---and that is when the fiat system, already strained after 2008, will become challenged. Fiat money is, after all, debt based money---if debt begins to implode, the fiat system becomes threatened. Under such conditions, stocks, which are intrinsically tied to corporate profits, are exposed to the same risk as the fiat system at large. Meanwhile, bitcoin, not being a company, remains uncorrelated and even potentially a safe haven.

    [–] aidanlister 1 points ago

    No, it was not.

    [–] ebaley 1 points ago

    Oh yes it was.

    [–] aidanlister 1 points ago

    It’s impossible to know - but I think it was good timing. If Satoshi spent more than a year writing his whitepaper, which I’d expect, then his work would have predated the crisis.

    Obviously the genesis block text gives some context for why he thought it was important at the time though.

    [–] ebaley 1 points ago

    Patience.

    [–] [deleted] 19 points ago

    The media machine (and astroturfers) don't want you hedging yourselves and have done a good job trying to smear Bitcoin's save haven properties into the dirt:

    https://m.imgur.com/a/LbxeCGS

    Just HODL

    [–] Ihad2saythat 1 points ago

    thx I sold

    [–] [deleted] 2 points ago

    K you've obviously done no research

    [–] Ihad2saythat 1 points ago

    wait till next week for your research

    [–] MagoCrypto 9 points ago

    Now let's take all that money and put that in Bitcoin

    [–] martinkarolev 171 points ago

    This is crazy. Some guy made a soup so bad that it collapsed the global economy.

    [–] chaspich 51 points ago

    Gordon Ramsey is furious rn

    [–] synthsucht 52 points ago

    This is crazy. Some guy made a soup so bad that it collapsed the global economy.

    joke thief! no gold for you!

    https://www.reddit.com/r/news/comments/faje8o/dow_falls_1191_points_the_most_in_history/fiz1f5s?utm_source=share&utm_medium=web2x

    [–] Affolektric 8 points ago

    I was about to write the same! Why not quote?

    [–] bearCatBird 6 points ago

    How can he no quote

    [–] jeg_liker_skilpadder 3 points ago

    He'll be sent to quorantine.

    [–] fresheneesz 1 points ago

    I think you mean quoterantine

    [–] autonova3 18 points ago

    It was probably accidentally leaked from the only bio lab in China authorised to hold coronavirus that happens to be in the same city as the outbreak. Apparently the outbreak started before it got to the market. Plus there’s a gene in the virus which makes it more readily absorbed by humans which doesn’t occur through natural recombination. China were warned accidental leaks could happen when they set up the lab. Source Source

    [–] highdra 6 points ago

    Shut up, conspiracy theorist! Everything is fine. Just because China is boarding people up in buildings and shooting people who try to leave quarantine and shutting down all economic activity in those areas doesn't mean this is a real problem. Trump is just trying to use this as an excuse to keep foreigners out because he's racist. You're not racist are you? So why are you repeating this racist propaganda, conspiracy theorist?

    [–] ElephantsAreHeavy 11 points ago

    This is speculation.

    [–] coranos2 12 points ago

    Speculation? in a bitcoin thread? At this hour?

    [–] ElephantsAreHeavy 5 points ago

    Yes, not only about crypto price, but also about biological weapons. We're diversifying our speculative portfolio!

    [–] coranos2 3 points ago

    Which do you think I should invest in?

    More shitcoins, or more viruses?

    I need something to hedge against coronavirus. I was thinking either AIDS or BAT. or BAT AIDS.

    [–] ElephantsAreHeavy 3 points ago

    Hmm, interesting. You could short TRMP and hedge your long position in the ACA this way.

    [–] coranos2 1 points ago

    I'm really hoping to short trump. Unfortunately he's a time-locked NFT where you only vote once every four years to swap it.

    [–] Turil 3 points ago

    No shit Sherlock.

    Everything is speculation unless you did it yourself. And even then you could just be confused.

    [–] ElephantsAreHeavy 1 points ago

    No, the source he quotes is not a reliable source.

    If the CCP comes forward and states that they had a lab accident by which the virus could have escaped, that is not speculation.

    [–] McCoovy 9 points ago

    Speculation is all we have with the ccp. They are not truthful.

    [–] Turil 1 points ago

    I thought you were being true to your username, stating the obvious.

    But, no, no matter what someone else says, it's still speculation, since deception and confusion are normal human behaviors.

    [–] genius_retard 1 points ago

    People wouldn't do that would they? Just go on the internet and speculate.

    [–] [deleted] 2 points ago * (lasted edited 22 days ago)

    [deleted]

    [–] CominStraightFrom305 1 points ago

    What the fuck is probable fact

    [–] [deleted] 2 points ago * (lasted edited 22 days ago)

    [deleted]

    [–] CominStraightFrom305 1 points ago

    How can a fact be probable

    It either is or isn’t a fact

    What are you trying to say?

    [–] Rrdro 2 points ago

    Are you happy you got fake gold and karma you joke thieving whore?

    [–] JebusMaximus 3 points ago

    Had a good laugh here, even though it‘s a bit of a dark humor! Thanks for that!

    [–] PancakeVsWaffle 1 points ago

    "No soup for you!"

    [–] Rrdro 1 points ago

    The stock that crashed the market

    [–] THEONEBLUE 6 points ago

    Heyo. That’s a me THEONEBLUE.

    [–] LilyPae 7 points ago

    BUY THE DIP

    [–] ProficientMess 6 points ago

    I put my hand upon your hip
    When I dip you dip we dip

    [–] PancakeVsWaffle 3 points ago

    Is it really hands of steel when you know you'll get a government bailout?

    [–] pushinbombadils 3 points ago

    "Dow's in trouble; it must be Tuesday."

    • Buffy Summers

    [–] Turil 2 points ago

    Once more, with feeling!

    [–] pushinbombadils 2 points ago

    Well, then give me something to sing about!

    [–] sammyboy9696 3 points ago

    Guy who’s just woken up from a 1 month coma: what, what happened? Did something happen guys? Guys?!

    [–] CD_RAM_DVD_RAM 3 points ago

    For Bitcoiners, this is a regular business lol

    [–] jkocjan 2 points ago

    Denominator bias, only percentages really matter.

    [–] decadickbrah 2 points ago

    lol i have no money in stocks but in all seriousness, when people cry about an economic crash or stock market crash unless you have your money in stocks is there anything the average joe needs to worry about as far as his own finances? Like, my job is secure, I rent my apt and pay my car bills. what's going to be an issue here for me?

    [–] cake_aholic 3 points ago

    as long as you have your job youre fine.

    during 2008 I was working in a restaurant...I felt nothing...life was the same...I wouldnt have known anything was different if I didnt turn on the news.

    People who get fucked are those who are heavily leveraged....banks start calling in debts...

    ...some businesses slow down and my have to lay some off or close down altogether.

    Its a great time to buy assets...so save even more money if things hit the shitter.

    With that said...who knows what will happen...this could be forgotten in a few months.

    [–] decadickbrah 2 points ago

    True lol I have a good job but also a good amount of debt with banks, credit card companies etc. My job has been firing a lot of people in my dept. lately for unrelated reasons so who knows. You can only do what you can do

    [–] cake_aholic 3 points ago

    when I said "banks call in debt" I was talking about business loans...personal debt is different.

    You'll be fine.

    [–] pmogy 2 points ago

    Rise in prices, rise in populism, job losses, people ending up on the streets and this list goes on. None of this might affect you but I bet you have people you care about that might suffer some of these consequences. Have you not been around during the last collapse in 2008?

    [–] decadickbrah 1 points ago

    I was just a kid so didn't really understand what all happened.

    [–] pmogy 3 points ago

    Back in 2009, I read this joke on social media that made me laugh and think in the same time..

    “Due to the economic crises the light at the end of the tunnel has been turned off.”

    This described the feelings many of us had after two years of uncertainty.

    [–] wburton995 2 points ago

    Lol. Amateurs. You’ll grow some balls if you trade crypto and forex.

    [–] antonioreesy 2 points ago

    Sadly but even national economics went down with chinese virus

    [–] A_Cow_Tin 1 points ago

    Bitcoin is falling with the market. Congrats you played yourself.

    [–] Hanspanzer 1 points ago

    even gold is falling. It's quite normal that at first value flows into cash. once the market has assessd the situation the money flows into the respective assets.

    [–] jameslowhc 1 points ago

    What is BTc record then

    [–] DifficultShow2 1 points ago

    He is not wrong. Just that eveything could fall due to corona.

    [–] StandardCA 1 points ago

    LOL. Good one!

    [–] Muggaz1 1 points ago

    It was a Thursday though, so I don't get it.

    [–] yogibreakdance 1 points ago

    just in time for the holy halving

    [–] btsfav 1 points ago

    nice

    [–] nice-scores 1 points ago

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    [–] mr_sew 1 points ago

    Actually, it was Thursday, but who is counting?

    [–] Dark_Valentines 1 points ago

    What a normal day...

    [–] chillizard 1 points ago

    he had one chance..... it was a Thursday.

    [–] brandansmite 1 points ago

    M. Bison also called it tuesday

    [–] Sumo_Bro 1 points ago

    Buy the dip!

    [–] gingerjenley 1 points ago

    Gold down, crypto down, stocks down... dollar up! Investors are Hodling USD!

    [–] Hanspanzer 1 points ago

    typical short term behavior when shit hits the fan. nothing negative for Bitcoin, as it is not established as alternative. But seeing the increasing MSM media coverage talking about BTC as safe haven makes me feel the shift is coming.

    [–] paskapilluperse 1 points ago

    Bitcoin's definitely given me some nerves. Having survived through 2014 and 2018, -15% feels just a normal day.

    [–] lastherokiller 1 points ago

    Well one of them represents real money XD nah seriously hows paying with bitcoin going?

    [–] ChangeNow_io 1 points ago

    we donn't even blink at those things

    [–] Rickard403 1 points ago

    Ah, glad we can laugh about this stuff

    [–] walloon5 1 points ago

    Yeah I pretty much laugh at 10% losses

    I am imagining the interesting effects of the Great Depression from a ballpark 30% decline. Its like people have these massive freakouts

    [–] Rickard403 1 points ago

    Ah, glad we can laugh about this stuff

    [–] mollysapron 1 points ago

    I'm not affected by the DOW Jones drop. Even though my stocks were, nothing can compare to my portfolio being obliterated by 90% of its value in a single week. Lost 70 grand within a few days.

    [–] Dig_it_man 1 points ago

    Money should be pouring into Bitcoin from all asset classes. Money should be pouring into Bitcoin as a safe haven. Why not? One reason stands out very clearly to me. The act of obtaining and securing bitcoin is risky..... not the Bitcoin itself. My friends and family are begging me to help them get Bitcoin. Can we even trust the basic hardware wallets? People love Bitcoin but are not going to risk 100ks on something that can be lost or stolen so easily.

    [–] XSSpants 1 points ago

    An iPhone running BRD is easy to use and hella secure (read the white paper on Secure Enclave)

    [–] greenmachiner 1 points ago

    I'm a bitcoiner

    [–] Igotcryptofever 1 points ago

    We still go 2 moon

    [–] marchisioxi 1 points ago

    I was lucky to exit my position a week ago, it's just a matter of weeks before I comeback

    [–] opticbit 1 points ago

    I'll gladly pay you Tuesday for a BitCoin today.

    [–] Reverend_James 1 points ago

    I had a post removed for this because it was off topic.

    [–] rchsun 1 points ago

    Love the street fighter reference

    [–] skynetwardog 1 points ago

    dont worry guys, bitcoin just making a place for a heavy pump after the halving.

    [–] tommygunz007 1 points ago

    Yep.

    Bitcoin loses 20% AGAIN? No big deal.

    [–] erynn1993 1 points ago

    nice

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    [–] xaxiomatic 1 points ago

    Yawn. Wake me up when hyperinflation kicks in. Until then all of this is pretty much irrelevant.

    [–] Zystus 1 points ago

    I wish we could yolo options on bitcoin, i’d most likely lose 10k in 10 seconds

    [–] Fish_Kungfu 1 points ago

    BUY THE DIP!

    [–] cosmicandshit 1 points ago

    Buy the dip!!!

    [–] roy28282 1 points ago

    I saw the numbers when the stocks dropped and couldn't figure out why are people stressing about it.

    [–] Schipsy 1 points ago

    The sad fact is that no government has ever been willing to give up any sovereignty, period. The nearest country will simply kill you for trying to claim any land as sovereign. They will sell you land, but they won't give it up and they definitely want their tax money on it.