discussion comment
2 years ago
The economy doesn’t really worry me at all; it’s not my money that the Fed is devaluing!
discussion comment
2 years ago
The fiat money system is a Ponzi (lolz). All fiat currency is issued as debt, which has to be repaid with interest. But where does the interest come from? New fiat currency (debt), of course! As many down-to-Earth, no bullshit economist like to point out on Twitter recently, our debt-to-GDP situation means it’s all going to shit, or they’re going to do a soft default on the debt by massively devaluing the currency that’s currently in existence (I.e. lots of prolonged high inflation). Just look at the data on the Fed’s website, as these economists like to post on Twitter:
https://twitter.com/lynaldencontact/status/1535706741735841793?s=46&t=5JfI_U9aztr99Rcy8dEqYg
discussion comment
2 years ago
You still wrong?
discussion comment
2 years ago
*crickets*
review comment
2 years ago
$600 for an hour, or $350 for a half hour? That better include at least a little something extra...
discussion comment
2 years ago
BitCoinHodler/CTLennay: "...once you really delve into it Blackrock really isn't doing much."
-https://www.cnbc.com/2022/08/11/blackrock-launches-a-private-trust-to-give-clients-exposure-to-spot-bitcoin.html
-https://www.blackrock.com/institutions/en-us/insights/bitcoin-private-trust
"Bitcoin is the oldest, largest, and most liquid cryptoasset, and is currently the primary subject of interest from our clients within the cryptoasset space." - BlackRock
Does anybody care to share their opinions regarding the launch of this new Bitcoin Trust by BlackRock?
discussion comment
2 years ago
"Nothing says success like..."
-Is that what you do on this forum, Tetradon? You attempt to show off your success in life by anonymously posting on a titty bar message board? Seek approval much?
discussion comment
2 years ago
^ The point is that Blackrock would never partner with some financial firm in order to provide their clients easier access to something that is insignificant and of literally zero value. According to BitCoinHodler, people would be better off buying penny stocks than Bitcoin. According to skibum609, “Before investing a cent in bitcoin I would change it all into quarters and throw themn at people while I drove up and dopwn Las Vegas Blvd. Makes more sense financially.”
Would Blackrock partner with a firm in order to provide sovereign wealth funds easier access to some no-name penny stock, or access to something that is worth less than throwing quarters at people on Las Vegas Blvd?
LOL
discussion comment
2 years ago
"BlackRock Inc. is partnering with Coinbase Global Inc. to make it easier for institutional investors to manage and trade Bitcoin, marking a major push into cryptocurrencies for the world’s largest asset manager."
-The world's richest asset manager is getting deep into Bitcoin. Meanwhile, dipshits desertscrub and BitCoinHodler think it's just a failed experiment / bubble. Newsflash for you fellas: "crypto" is not Bitcoin. Bitcoin miners are now helping to stabilize the electrical grid for the entire state of Texas, and you're conflating Bitcoin with centralized craptocurrencies? LOL.
"Top BlackRock clients will be able to use its Aladdin investment-management system to oversee their exposure to Bitcoin along with other portfolio assets such as stocks and bonds, and to facilitate financing and trading on Coinbase’s exchange, according to a statement Thursday. THE FOCUS of the partnership ... 'WILL INITIALLY BE ON BITCOIN,' BlackRock said."
https://www.bloomberg.com/news/articles/2022-08-04/blackrock-teams-up-with-coinbase-in-crypto-market-expansion
discussion comment
2 years ago
Docsavage: “Bitcoin has no intrinsic value.”
-True, but the only thing that really has intrinsic value is happiness. For all other things, the value is extrinsic to itself.
“The inflationary policies of the Fed have created multiple bubbles and the Bitcoin bubble is one of those bubbles. You have the Bitcoin bubble, stock market bubble, housing bubble etc.
You can tell it is in a bubble because of the wild swings in value,”
-Please identify the bubble in the chart: https://bitcoin.zorinaq.com/price/ (or is it just one, long, 13-year bubble?)
BitCoinHodler: “Let's focus on the bitcoin use cases and tech not the price. Bitcoin at $1 is the same tech as bitcoin at $100.”
-Technically, this is false; there have been several software developments since Bitcoin was valued at $1 per BTC. Most notably, the Lightning Network.
“The tech is useless for people who follow the law.”
-False. Given that there is no law (in most Western nations) against holding and using Bitcoin, every single person that has ever used Bitcoin serves as a counterexample to this obviously false statement.
Desertscrub: “are we back to discussing this worthless use of blockchain technology? and to be very clear - this is a USE of a platform (BLOCKCHAIN)”
-It’s so sad to see the buzzword “blockchain” be characterized as a “platform.”
[Paraphrased] “crypto this, crypto that, blah blah blah.”
-Why change the subject?
Drewcareypnw: “As far as I can tell, bitcoin is only useful if you’re … an owner of btc trying to pump up the value.”
-What function does Bitcoin serve to the person who is trying to pump up the value of Bitcoin?
Datinman: “You know what's not going to happen to my bank accounts, brokerage accounts, or real estate holdings? I am not going to inadvertently toss that ownership in the trash bin.”
-No, you certainly won’t do that with a bank account. But, you might just have those bank funds confiscated because they were never really yours to begin with. Or, that real estate might just be destroyed by a hurricane. On the other hand, now that Bitcoin has appreciated in value, most holders are quite cautious and savvy about how they secure their BTC.
Desertscrub: [Paraphrased] “crypto this, crypto that, blah blah blah.”
-Why change the subject?
BitCoinHodler: “Bitcoin maximalists don't understand most people do not want to be their own bank. They want professionals who must follow regulations and get audited regularly. Being your own bank means a simple mistake means your money is gone.”
-I think that’s false. IMO, most “maximalists” do understand that the average Joe has limited ability to be responsible. Having the power to be one’s own bank comes with responsibility. Conversely, the consequence of relinquishing that responsibility is impotence.
Ilbbaicnl: “If Bitcoin became the world currency, that would be the end of monetary policy.”
-Well… it would be the end of monetary policy changes enacted by an unelected set of about a dozen men in each country. There would still be a policy; the Bitcoin policy. Currently, 6.25 BTC every 10 mins.
“How would we pay strippers with Bitcoin?”
-QR code on her ass.
discussion comment
2 years ago
Tetradon, you must have a fetish for being wrong, cuz it seems like the things you write are usually wrong.
review comment
2 years ago
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SalaoLikeSantiagoI know that you're young and inexperienced; but you can trust me to be sensitive and understanding. Now, here, have more tequila.
“Another $100 tip left the dancer happy and I left happy without a mess.“
- no mess was made, or did you make a contained mess?
How many euphemisms does it take to figure out if there are extras in the private court? Lol.
discussion comment
2 years ago
"Is this dingus still here trying to get titty bar enthusiasts to pump up the price of his investment?"
-No, this dingus is still here providing quality information, and correcting people when they write things that are false (at least, on this thread).
discussion comment
2 years ago
@mark94 “… crypto…”
-I never suggest people buy any ol’ cryptocurrency. There isn’t really any good investment thesis for buying crypto. My investment thesis is very similar to Bill Miller’s, which is that BITCOIN is verifiably limited in supply, which is fundamentally different from pretty much every commodity, fiat currency, cryptocurrency, and even real estate. Bitcoin's supply is much more similar to beach-front property, in that, generally, there isn’t any significant change in the length of habitable coastline, globally. But, of course, beach-front property has the inherent costs of maintenance and property taxes.
Bitcoin is a well-functioning digital money. The network hasn't skipped a beat for the past 12 years, and the miners are certainly functioning just fine today cuz the network is still cranking out blocks every 10 mins. In many cases, it’s easier to make a transaction with Bitcoin than the legacy financial system. Unlike fiat currency, which grows in supply ~10% per year, Bitcoin is of an absolute, finite supply. Unlike beach-front property, I don’t have to pay any property tax on my held BTC, and there is no maintenance cost for holding BTC.
“millions are going lose their investment when the ‘emperor has no clothes’ moment arrives.“
-Are you calling Bitcoin “the emperor?” No, the emperor with no clothes is the paper money that costs next to nothing to produce. Again, go back to Econ 101. We figured this out HUNDREDS of years ago, with Gresham and Copernicus. Look up Gresham’s Law. It’s common sense to hoard the hard money (gold/Bitcoin) and spend the easy money [(toilet) paper].
P.S. people have been declaring Bitcoin’s imminent death for the last 10 years. It didn’t die in 2014-2016, it didn’t die in 2018-2019, it didn’t die on the COVID Flash Crash of March 12, 2020. If it didn’t die that day, what makes you think it’s about to die now? https://99bitcoins.com/bitcoin-obituaries/
First they ignore you. Then they laugh at you. Then they fight you. Then you win. Come at me, bro.
discussion comment
2 years ago
"A Ponzi scheme is a form of fraud that lures investors and pays profits to earlier investors with funds from more recent investors. A Ponzi scheme can maintain the illusion of a sustainable business as long as new investors contribute new funds, and as long as most of the investors do not demand full repayment and still believe in the non-existent assets they are purported to own."
-What's your point?
discussion comment
2 years ago
"Example- you claimed Amazon accepts bitcoin when in reality you had pay a fee to convert your bitcoin to an online gift card on a completely different website which you then used to make a purchase on Amazon. In this step Amazon never touched bitcoin."
-False, I claimed I can effectively buy things on Amazon by spending my Bitcoins, which is true.
"Example- you're claiming two sovereign nations are accepting bitcoin..."
-False, I claimed two sovereign nations passed laws that make Bitcoin legal tender within those nations.
"Example- you're listing off rich people who are in crypto when a lot of these guys are pretty sketchy individuals."
-Argumentum ad hominem.
"Example- you're trying to use the name human rights foundation endorsing bitcoin as proof bitcoin is legit."
-False, I would never claim that their endorsement is proof of anything other than their own endorsement.
"At face value the name "human rights foundation" seems like the foundation is for the better good, but it has deep ties to far right organizations. This is well documented."
-So what? Are you biased against the far right in favor of the far left?
"If you want to tie bitcoin to far right"
-I don't.
"The more you speak..."
-I'm not speaking, I'm writing.
"...the more foolish you appear."
-LOL.
discussion comment
2 years ago
"who ya gonna believe, FTS or..."
-The difference is, nobody has to blindly trust what I write; all the information that I provide is well-documented. If people don't believe that Bitcoin truly is capped at 21 million then they can go do their own due diligence.
discussion comment
2 years ago
Jim Cramer just said he sold all his Bitcoin. This is the same guy that said "Bear Stearns is not in trouble" right before it went bankrupt during the Great Financial Crisis. https://youtu.be/gUkbdjetlY8 . This is the same guy that is laughed at on Twitter as a very reliable contraindicator https://twitter.com/CramerTracker.
In Cramer We Trust??
I'll put my trust in mathematics, and economics 101, thank you very much.
discussion comment
2 years ago
"this is an uninvestable asset class"
-An "uninvestable" asset class that reached over 1 trillion USD market cap, legal tender in two sovereign nations, significantly owned by one of the largest corporations in history (TSLA), and owned by the likes of Tim Cook, Mark Cuban, Bill Miller, Gary Gensler (chief of SEC), Paul Tudor Jones, Elon Musk, George Soros, Mark Zuckerberg, etc. etc. etc., along with 46 million Americans, and well over 100 million people around the globe. An "uninvestable" asset class that has basically replaced fiat currency in Nigeria. An "uninvestable" asset class that is backed by the Human Rights Foundation because of the economic freedom that it provides to people under authoritarian regimes. An "uninvestable" asset class that is serving to balance the electrical grid in Texas to prevent blackouts. An "uninvestable" asset class that is the hardest form of money that humanity has ever discovered.
"BuT iT's NoT aN iNvEsTaBlE aSsEt ClAsS hur de dur" lol
discussion comment
2 years ago
“ I've done approaching hundreds of hours of research into bitcoin and crypto, my opinion on it os very well informed.”
-Then explain how it works, in your own words, under the hood. You still haven’t done that.
ReasonTV episode: “America Would Be Better Off If Bitcoin Became the World’s Reserve Currency”
https://youtu.be/Y0rtBji_yX4
discussion comment
2 years ago
@BitCoinHodler, your argumentum ad hominem is no match for the truth. Cry harder. https://pbs.twimg.com/media/FUB0tPKWUAM1Sb2?format=jpg&name=900x900
discussion comment
2 years ago
Happy Memorial Day, y'all. Here's some resources to help you learn something (I'm looking at you, BitCoinHodler, ya ignorant fuck).
https://assets.website-files.com/614e11526f6630959fc98679/616df63a27a7ec339f5e6a80_NYDIG-BitcoinNetZero_SML.pdf
https://global-uploads.webflow.com/61d2416d1d63f07ecbfd010c/627d3c3f5d3ad815883e8036_BPI%20OSTP%20CommentV3.pdf
https://batcoinz.com/quantifying-the-potential-impact-of-bitcoin-mining-on-global-methane-emissions-4/
tl;dr--
"Bitcoin mining can eliminate 0.94 + 4.38 = 5.32% of all global emissions. This represents 23% of all global methane emissions: more than half the UNEP’s methane reduction target. Incredibly, discussing the IPCC’s target to limit global warming to under 1.5°C, UNEP recently stated 'The 1.5°C target cannot be achieved without reducing methane emissions by 40-45% by 2030. Reduction of this magnitude would avoid nearly 0.3°C of warming by 2045 and complement long-term climate change mitigation efforts.' That means Bitcoin mining has the potential to achieve half our methane reduction target. That also means that Bitcoin mining has the realistic potential to help humanity avoid nearly 0.15% of warming by 2045. To our knowledge, this can be legitimately claimed by no other technology."
"When thinking about bitcoin and the environment we must weigh bitcoin’s own value, its negative environmental effects, and its positive environmental effects. Bitcoin is a $600 billion digital asset, an embodiment and extension of deeply-held American values, and a means of advancing American interests. Proof of work, we have argued, is essential to bitcoin’s value along all three of these dimensions, but like any industry, has environmental impacts. These, we have argued, are often exaggerated due to basic misunderstandings of bitcoin’s protocol. Finally, we have explored the many ways in which bitcoin mining promises to help us confront the challenge of climate change. Mining reduces investment risk in renewables—particularly in advance of grid connection—and acts as a uniquely flexible controlled load resource. Mining has other environmental benefits, including innovative uses of waste heat, safe disposal of used tires, remediation of waste coal, and most of all, methane cleanup on wellsites, farms, and landfills, at scale. Especially in this nascent phase of its development, regulators must be mindful both of bitcoin’s value and of bitcoin mining’s unique and positive contributions to sustainability."
discussion comment
2 years ago
@desertscrub you racist? What’s your problem with dark money? You only like light money? Geez, and they call Bitcoiners white supremacists. Get a load of this guy.
P.S. not selling… but I might buy some pizza over Lightning network.
discussion comment
2 years ago
Good job. I thought for a minute that using an encryption key might be slightly too advanced for you. Glad you figured it out.
discussion comment
2 years ago
A special message to Tetradon this Sunday: https://mega.nz/file/JlgQ3CrQ