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19f0bc080309c redditor for 3 months 5 hs ago

It is being proposed by the opposition, do you believe it is likely to pass? I am not optimistic with it

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afBeaver 11 hs ago

If this thing really takes of, as I countries all over the world start adopting it as legal tender and building up their own stock of Bitcoin, we are gonna be really lucky we entered before that happened. Might be worth buying some extra sats just in case.

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lladobo 12 hs ago

I was just watching a YT video earlier about Paraguay and their indigenous people. The govt took a lot of their lands. I wish they can get some coins and that would help them recover or buy their lands back. Unlikely but maybe just maybe..

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the_damj redditor for 2 weeks 12 hs ago

The domino effect in action

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lazarus_free 13 hs ago

Taproot locked in

A country (potentially 2) adopting Bitcoin as legal tender

Chinese Government helps Bitcoin mining become more decentralised

All good news I don't understand why the market isn't more bullish

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fatstepfather redditor for 5 weeks 11 hs ago

> Chinese Government helps Bitcoin mining become more decentralised Previously: > **CHINA**, USA, others Now: > **USA**, others hmmm, yes 'more decentralised' 🙄

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lazarus_free 11 hs ago

Not all mining is going to the US.

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fatstepfather redditor for 5 weeks 11 hs ago

Even if it goes *nowhere* (i.e. hash-rate drop), it still causes us to now have only 1 large concentration of miners (USA), rather than 2 (USA/China).

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lazarus_free 11 hs ago

I don't think so. It causes a spread on so many countries. Also the US didn't have the largest concentration nor is the best place in terms of cheap electricity. Miners are being set in Iceland, Kazakstan and other places.

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antonio_roberto redditor for 2 weeks 14 hs ago

The consumers can handle offline transactions just well. I believe it'll be fascinating to observe how Bitcoin responds to the constraints of medium commerce. When you can't connect with another planet in real time, how can you trust a transaction?

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Odd-Evidence-1131 redditor for 3 weeks 14 hs ago

That is not something I see occurring in any Euro nation; rather, it will happen in countries where they have no method of defrauding their population by manipulating their currency in any manner. I'm sure there will be many more pressing issues to address first.

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Phirocious 14 hs ago

Rubbish

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JonathanTheZero Yesterday

Seems like more and more countries are adopting it, a very good trend

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abhilodha Yesterday

Lamo suit gets followed

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amarillo2019 Yesterday

Some context for Paraguay: it's used to be one of the poorest nations but is liberalizing, stabilizing and growing although inequality is very high

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Fine_Set_2339 Yesterday

Im so glad small countries and flippijg the bird to the imf and global bank 🤣😅😂 they BIG MAD NOW

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mbrochh Yesterday

1.3k braindead people just read the headline and upvoted.

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Evening-Dimension483 redditor for 2 weeks Yesterday

It’s happening

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mar_ko14 Yesterday

Good news, keep 'em coming

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lordchickenburger Yesterday

china number 69 paraguay number 2

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SatomuraMomiji Yesterday

if everything goes wrong I'm literally fleeing to Paraguay as I live close to it and can literally go live and work there only using your ID card issued in your country

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rachellctt 1 - 2 years account age. 35 - 100 comment karma. Yesterday

Vamos Paraguay! Great news for crypto!

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aravindc26 Yesterday

They are followin steps of El Salvador, very smart. It's gonna open up jobs

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nnnnkkkkkkyyyyeeee Yesterday

shit, in addition to a house in el salvador, I have to start looking for another property in paraguay

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Additional-Resident8 Yesterday

South American Countries are no longer third world, they’re the future!

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aNutSac Yesterday

shiba inu?

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Maleficent_Phase_669 Yesterday

It’s literally just shithole after shithole that’ll accept bitcoin as a currency😂 next up North Korea makes bitcoin the new standard

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USACurrencyToday redditor for a day Yesterday

Smart country , support real democratic capitalism and real supply and demand economics. Hats 🧢 off the Paraguay 🇵🇾

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Schelmliii 7 hs ago

These countries are like the early adopters of Bitcoin, these will be in more profit than other countries who will understand it late

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blueysak WARNING: 8 - 9 years account age. 57 - 113 comment Yesterday

Good, Paraguay is actually pretty big

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qayxc - @qayxc 10 hs ago

I don't quite understand. So they say:

> We believe that the next wave of computing innovation will be driven by crypto.

But then they also say that [0]:

> Crypto is purely a software movement and doesn’t depend on a hardware buildout, in contrast to, say, the internet, which required laying cables and building cell towers

That doesn't make any sense, though. Crypto heavily depends on specialised hardware (ASICs, GPUs, SSDs, ...) and existing network infrastructure (have fun trying to establish crypto in underdeveloped countries).

I get that products are just based on software and that infrastructure is provided by 3rd parties, but so far very little has come out of crypto in terms of "innovation in computing".

Just a random pick of their investments, ARwave [1], reveals actual regression, not innovation:

> The maintainers of the network are able to filter and screen the transaction in whichever manner they choose, checking against known illicit material, scanning the data with computer vision software, et cetera.

So basically "store data forever, decentralized, no more 404s, no stealth edits, blah", but also "we decide what's actually going to be stored and reserve the right to censor your data however we see fit".

Honestly, I don't see the innovation in that. Most of the other investments are either NFT market places or crypto-based trading platforms. Again, not really an innovation in computing.

Maybe I'm just too illiterate when it comes to decoding marketing speak.

[0] https://a16z.com/crypto/#vertical-landing-investment-thesis

[1] https://www.arweave.org/technology#papers

[2] https://www.diem.com/en-us/

dannyw - @dannyw 10 hs ago

Starting to invest in crypto projects and companies during the onset of a bear market (below 200D MA, after death cross) is a smart move. This seems like a good time to embark on crypto projects, even if we have an upcoming winter.

The coolest thing would be if a16z crypto believed in open access as well, and allowed all accredited investors (due to legislation, unfortunately) to contribute a modest amount.

schaefer - @schaefer 10 hs ago

If we can talk semantics for just one second, it feels like its been ages since the word "blockchain" was coopted from being a technical term into a hype inducing buzzword.

So, it's nice to see someone gently set down the word and use another phrase. In this case "crypto network".

spinchange - @spinchange 4 hs ago

The value proposition for decentralized, hard money assets and related tech is bear not bull case, about the broader world and economy around us.

boringg - @boringg 7 hs ago

Does this inherently tie A16z to try and destabilize or cast shade at traditional financial markets for the gains of their own funds?

There is an inherent conflict in that they provide returns to their LPs in USD $ while underwriting crypto service companies which partially/wholly rely on the value of crypto to increase over time to increase adoption of services.

The other argument is that it isn't a zero sum game and that both can succeed - however I don't buy that in the long run unless crypto et al. remains an alternative to finance companies. Maybe they split market share and A16z is just diversifying its portfolio of exposure.

endisneigh - @endisneigh 10 hs ago

> We believe that the next wave of computing innovation will be driven by crypto. We are radically optimistic about crypto’s potential to restore trust and enable new kinds of governance where communities collectively make important decisions about how networks evolve, what behaviors are permitted, and how economic benefits are distributed. That’s why today we’re pleased to announce a new $2.2 billion fund to continue investing in crypto networks and the founders and teams building in this space. This represents the beginning of an exciting new chapter for the a16z crypto team.

Can somehow explain to me exactly how crypto will do this without intermediaries? If there must be intermediaries then why do you need crypto?

- How can crypto "restore trust"?

- How can it enable "new kinds of governance" - unless "new" means Plutocracy?

- How can any economic benefits be distributed when by definition cryptocurrency holders are accountable to no one (something like a redistribution of funds would eventually require either an intermediary in which all holders are beholden to, or voting, however in either case that's the exact scenario you're in if you hold fiat in a democratic country so I'm not really getting it).

boringg - @boringg 6 hs ago

Also - is this A16z betting on all the surrounding companies of crypto assets? If so - it is not too dissimilar from all the landlords/property holders in San Francisco making money in the gold rush while the miners did not.

necessities - @necessities 9 hs ago

Human civilization wont use paper money forever nor will people be satisfied with third parties like banks just updating spreadsheets on their behalf forever; there has to be a solution and cryptocurrency is appearing to fill that

Power is decentralizing rapidly with the spread of information and the units of account we use for exchange will need to reflect that

RandomLensman - @RandomLensman 9 hs ago

I am amazed at the level of exegesis directed at what is effectively a marketing communication. They are "talking their book" and not making unbiased pronouncements on the future...

mis1988 - @mis1988 10 hs ago

A16Z: "It's time to build"

Also A16Z: "We're raising (another) crypto fund"

gimluzosta - @gimluzosta 9 hs ago

First, make USD a fiat currency in 1971. Then, print a lot of money during the last 50 years. Now, when non-banking US corporations debt is more than 50% of GDP govt needs a direction where to move in the future to somehow legitimize endless money printing/cheap debt or at least make it look more plausible. More people surveillance/control will not the hurt the government either. One such way may be a "digital dollar", and in that case the government might need new "bankers" and new "credit card" companies. It is wise taking a risk to invest in this technology today. Who knows, maybe tomorrow you will end up an owner of a digital mint.

BenoitEssiambre - @BenoitEssiambre 10 hs ago

Move the hands on the crypto doomsday clock a bit closer to midnight I suppose. Douglas Adams tried to warn us: "[to] revalue the leaf, we are about to embark on a massive defoliation campaign, and ...er, burn down all the forests." https://benoitessiambre.com/specter.html

glutamate - @glutamate 10 hs ago

Of course A16Z is enthusiastic about the creation of a financial system not subject to democratic oversight.

seibelj - @seibelj 10 hs ago

Crypto is an area of startups that HN collectively is wholly ignorant of because of a rabid and devoted group that despises anything related to blockchain and crypto. It has driven crypto enthusiasts away from commenting, allowing the downvote brigade to take over. There are deep-pocketed investors, talented developers, and very intelligent people in this space (but you won't find them commenting here).

Show all comments on Hackernews

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coinfeeds-bot Platinum | QC: CC 651, BTC 267, ETH 135 | TraderSu 2 days ago

tldr; Nassim Taleb, the author of several well-regarded books on finance and risk, has published a draft paper explaining his recent 180 about the asset. "Bitcoin failed to satisfy the notion of 'currency without government' (it proved to not even be a currency at all)," he writes.

This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.

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klassefest 2 days ago

Taleb is a turd.

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DetroitMotorShow Platinum | QC: CC 343 | TraderSubs 11 2 days ago

It doesnt really matter if he is a turd or a ham sammich, he posted a academic paper that should be replied to on its merits, not in ad hominems It says everything about BTC culture where only attacks fly and zero intellectual discussion is encouraged

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klassefest 2 days ago

No, not with this guy who is a master of the ad hominem. Fuck Taleb, he is a rude Luddite with an above average vocabulary. Seriously, fuck Taleb. https://rationalwiki.org/wiki/Nassim_Nicholas_Taleb

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DetroitMotorShow Platinum | QC: CC 343 | TraderSubs 11 2 days ago

Lol okay. If you say so 😂 it’s obvious Bitcoiners are losing the intellectual debate except to other bitcoiners who are still in pain after losing the energy debate. Guess who sold millions of copies and has millions of followers, Taleb not some anon pepe turned scholar from the BTC community. Ad hominem attack work really well in convincing people to use BTC

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[deleted] 2 days ago

[removed]

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Sliicky3 Redditor for 2 months. 2 days ago

Crypto is dead

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pukem0n Platinum | QC: CC 466 2 days ago

for the 500th time already. talk about a dead cat's bounce.

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JollySno Gold | QC: CC 47 2 days ago

A dead cat bounce to new ATH!

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fordanjairbanks 1 h ago

If Eric Adam’s wins the nomination, I’m voting third party in the general.

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electrostatik 8 hs ago

Hopefully he means the bitcoins.

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DanielJonesHOF 10 hs ago

Dude is a POS but I agree with this. No reason to hide from crypto anymore.

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svanapps 10 hs ago

Thank this post to u/mebinici 🙏💙

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coinfeeds-bot 10 hs ago

tldr; Eric Adams, the Democratic front-runner in New York City's mayoral race, has endorsed Bitcoin. "I'm going to promise you in one year … you're going to see a different city," he said. Adams currently holds a lead of 75,000 votes ahead of his closest rival Maya Wiley.

This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.

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ebased 10 hs ago

Why wouldnt the home of Wall Street also be home to the new Bit Dollar?

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Eltotsira 10 hs ago

Yeah... Not with their current laws.

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Significant_Cow5942 11 hs ago

First Miami mayor comes out and says he wants Miami to be the US crypto capital, and now the likely next mayor of NYC has thrown support towards BTC. Even though it sounds like he has no idea about crypto and is just throwing out that power word “Bitcoin” to gain some popularity...I’ll take it!

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DeadpoolvsMorty Yesterday

I don't think he knows what bitcoin even is. Like a granny talkin bout tindas.

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Bitcoin-1 5 years ago

Damm just jumped to 950PH!

Somebody just switch something on lol

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Antonshka 5 years ago

I guess halving is coming a little sooner than most of us expected

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BitcoinAllBot 5 years ago

Here is the link to the original comment thread. Or you can comment here to start a discussion.

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pprimase 7 years ago

When there are more hash, why it won't decrease or increase the confirmation time? I just image if there are more people to vote, it will take longer time to reach agreement.

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OrderAmongChaos 7 years ago

The network adjusts the block difficulty to ensure an average block time. It only adjusts the difficulty every two weeks, so on average blocks have been around 8 minutes rather than the target amount of 10 minutes.

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btc6000 7 years ago

Is that more or less than 10.21 Gigawatts

(Serious question)

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Borax 7 years ago

A watt is a measure of energy per second which is not directly comparable to hashes, which measure calculations per second.

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btc6000 7 years ago

I know, but making some educated assumptions on the cost of energy and efficiency of hardware; how many hashes/sec would 10.21 Gigawatts provide? Cheers,

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Borax 7 years ago

1735700000GHash/s with 1.700 GHash/J https://en.bitcoin.it/wiki/Mining_hardware_comparison

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goodcookies 7 years ago

Universe unaffected.

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[deleted] 7 years ago

I am a part of the universe, and Bitcoin affects me. I think that means the universe is affected.

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justgimmieaname 7 years ago

this network is now the ultimate power in the universe!

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ProGamerGov 7 years ago

Dat computing power...

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TropicalRaindwarf 7 years ago

If only we could use it for something good/charitable. EDIT: Well Bitcoin does bring good to the world, but you get what I mean.

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Arieldeschapell 7 years ago

Security and transaction processes is good enough for me, these are ASICs we are talking about. They get to that kind of net power because they are literally designed for that one purpose, it's the whole point.

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TropicalRaindwarf 7 years ago

I remember there being some program on the PS3 that you could run to 'help cure cancer' or something.

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GibbsSamplePlatter 7 years ago

Folding @ home

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btc6000 7 years ago

I had SETI screensavers running on the office PCs back in 2008. Frigging aliens, if only I hadn't wasted those precious CPU cycles.

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TropicalRaindwarf 7 years ago

That's the one.

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ansc01 7 years ago

Move over Peta, this is a job for Exa.

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BangkokPadang Yesterday

Can the article explain this to my wife for me?

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Mengerite Tin 1 day ago

Bulls are always optimistic. If they weren’t, they’d be like...bears, man.

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EntertainerWorth Platinum | QC: BTC 94, CC 36 1 day ago

True, but over the past decade the bulls have been killing the bears overall.

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Acidflare1 Tin 2 days ago

I’m looking forward to that next buying opportunity

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NudgeBucket 2 days ago

I like winter

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coinfeeds-bot Platinum | QC: CC 651, BTC 267, ETH 135 | TraderSu 2 days ago

tldr; Bitcoin dropped below $30,000 on Tuesday, sparking talk of a "crypto winter." But experts say the fundamentals of bitcoin are good, and the market conditions in 2021 are very different than the last big crypto crash in 2018. "We are far from a bear market, only traders are freaking out over technicals seen on exchanges," said Willy Woo.

This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.

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killawaspattack Gold | QC: CC 16 2 days ago

I’m not worried this is just the same as mid 17 and we’re going to see a crazy 4th quarter

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beemoTheAngryRoomba 2 days ago

Btc isnt below 30k

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MonkeyOnATypewriter8 Gold | QC: CC 16 2 days ago

No but it did drop below it

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beemoTheAngryRoomba 1 day ago

i guess it did, my limit orders all filled lol

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Spear-of-Stars Redditor for 2 months. 2 days ago

Until my paycheck cleared. Then I swear to gawd it went right to 32k

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PrincPaco 1 day ago

The stars align against you

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majic2 2 days ago

Its a 50% drop... many people here will have witnessed way larger drops.

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NudgeBucket 2 days ago

For sure. It was the speed that was so impactful imo Worst 2 week drop in history I believe. Not the worst month.. Still plenty of time to be the worst 2 months though lol

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camehere2 2 days ago

BTC will always be worth something because I'll be buying it.

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Goober-Ryan 1 day ago

You are not alone either

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Killertimme Platinum | QC: CC 184 2 days ago

Nobody who owns bitcoin should be worried for the future.

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svanapps 2 days ago

r/Bitcoin 📰 r/BitcoinBeginners 📰 r/CryptoMarkets 📰 r/CryptoCurrency 📰 r/crypto 📰 r/CryptoToFuture

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p53ud0k0d3 2 days ago

Buy the fuckin dip

~ ~~Warren Buffett~~ Michael Saylor

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Slamglaze 1 - 2 years account age. 100 - 200 comment karma. 2 days ago

Microstrategy works directly with Citadel, the corrupt market maker. These fucks are pumping and dumping coins to raise liquidity in the ongoing battle of GME.

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Classic_Rip1590 Redditor for 3 months. 2 days ago

Fuck! What loss did they take today? I'd be fucking pissed or firing someone

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andrewhartanto Platinum | QC: CC 349 2 days ago

RIP

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vizankoj 3 - 4 years account age. 100 - 200 comment karma. 2 days ago

That was a pretty shitty strategy…..

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warriorlynx Gold | QC: LTC 38 | TraderSubs 39 3 days ago

It’s like every time they buy after May 19 it crashes lol

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Exact-Cup8352 Redditor for 22 days. 3 days ago

He’s trying to buy all of the coins they have left to mine. God bless him. I’m waiting for the whole tether thing to come falling down. It’s going to take Bitcoin down with it and the entire crypto market.

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Stunning-Trade8869 3 days ago

Who owns micro strategy ?

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Initial-Good4678 3 days ago

Should have waited 2 days, would have really bought at a good discount.

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Kentucky7887 3 days ago

I wish he would pump ethereum, as well.

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0-o-o_o-o-0 Redditor for 3 months. 3 days ago

Should have waited.

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sfxer 7 - 8 years account age. 200 - 400 comment karma. 3 days ago

Has the man never heard of dca?!

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upriverchallenge Redditor for 3 months. 3 days ago

The man. The myth. The .....

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Lesinju84 3 days ago

Funny considering the connection to Citidal.

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noooit Tin 3 days ago

aaand it's gone.

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Levitins_world 3 days ago

Gosh, at this point he will contend with the top 10 richest men on the planet when bitcoin gets past a few hundred thousand.

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BicycleOfLife Platinum | QC: CC 508 | r/Politics 11 3 days ago

Not too bad quite honestly. He’s DCAing. His business still has a thriving operation. If they wait a few years they will probably have as much cash built back up as they have spent on Bitcoin…

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Wacco_07 Tin 3 days ago

Small change

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robertleeblairjr 3 days ago

MSTR of Puppets

https://twitter.com/BurryArchive/status/1407001712037093378

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muawiyayounus90 3 days ago

He maybe in heavy loss right now. But if history is any indication, he is getting shitload richer in the coming years.

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marktwentythree Redditor for 3 months. 3 days ago

Only down 65 million so far. omg

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Bpool91 3 days ago

And people think that BTC is going to disappear and be worth nothing.

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redditbsbsbs Tin 3 days ago

This will end in bankruptcy

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inspron2 3 days ago

People are trying to do 1% to 5% BTC investment allocation. He's going for 5% of all BTC allocation. Mad lad. Legendary.

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sHoRtThEvIx1337 3 days ago

lol Saylor is going to get owned

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