discussion comment
3 years ago
@ceoaticeesangelsllc
https://bitcoin.zorinaq.com/price/
discussion comment
3 years ago
"You know what else would make you feel good? A woman's mouth around your penis."
At least we can agree on one thing.
discussion comment
3 years ago
Here, I'll help you guys some more. Watch this very short video clip. Watch it a second or third time if you need to. Use your brain! Think about the origins and purpose of paper currency (an example of debt-money / money-of-account). If you want to dismiss the words of some of the most intellectual and entrepreneurial minds, go ahead, but you won't be able to say I didn't tell you so.
https://twitter.com/blue_collarbtc/status/1513173927773749251?s=20&t=5c1EAckyeGUxauvET8p4qQ
discussion comment
3 years ago
"For someone so happy and secure about your investments, you sure have a weed up your ass about people who don't see the value of Holy Mother Bitcoin."
Not really, I just like to correct people when they're wrong; it's a way for me to help people and it makes me feel good. I would do a very similar thing if there were people on this forum who argued against a spherical model of the Earth and honestly believed in flat-Earth theory.
"I’m not ridiculing anyone,"
Yea, my comment wasn't really directed at you.
discussion comment
3 years ago
@ceoaticeesangelsllc, you want to know what's next? How about using Bitcoin as a flexible, on-demand, electrical load to make the shift towards using more renewable energy sources more economical?
https://www.youtube.com/watch?v=VQ9dNMrSDK8
You guys make fun of Bitcoin, and yet it's reached the level of becoming a tool to bolster our national security. Has the president of the United States issued an executive order regarding Alex Jones, or SJG's organization? Is SJG on Larry Fink's radar?
y'all need to wake the f up, or stop acting so immature.
discussion comment
3 years ago
"earning nothing but ridicule in the process."
Maybe my "hawking" hasn't earned me anything, but supporting my cause earned me a half milli so far. You can ridicule me all you want, doesn't make you any less WRONG, and it doesn't change the value of my bitcoins. Alex Jones ain't worth $1 trillion, and SJG's organization is completely fictional.
You got a problem with Bitcoin, you go take it up with these publicly traded companies: MARA, RIOT, HUT, BITF, CAN, CLSK, HIVE.
discussion comment
3 years ago
You can?! Oh no, I’m so embarrassed! 🙃
discussion comment
3 years ago
@twentyfive, I didn’t write that large companies never will make changes to accommodate Bitcoin. But, the largest companies have huge accounting departments, and offices around the world, with software systems that have to be interoperable with other systems, etc. Changing to accommodate Bitcoin is not something that can happen overnight—there needs to be sophisticated software solutions that are coded specifically for Bitcoin, and there needs to be accounting regulations and laws that are amenable to using Bitcoin as a currency. Lots of work to do!
But, obviously that hasn’t stopped companies from acquiring Bitcoin to hold on their balance sheet. But, even that is not as good as it could be because the corporate accounting laws define Bitcoin as an indefinite lived intangible asset, which hinders the financials of the companies that hold the Bitcoins.
Legal tender in El Salvador, and now Prospera and Madeira and, soon, Mexico!
discussion comment
3 years ago
^^if all you care about is today, and next week, with no regard to 5 years from now, 20 years from now, and 2 generations from now, etc. then you will never fully understand Bitcoin.
discussion comment
3 years ago
^^ Is that so? Look at this chart, and then write that again.
https://bitcoin.zorinaq.com/price/
“Disappearing money”. Ha.
discussion comment
3 years ago
The large companies don’t allow direct payments in Bitcoin because their accounting systems are so elaborate and entrenched that it’s too difficult to accommodate Bitcoin. There are plenty of small companies, and online-only companies, that do accept Bitcoin as payment for their goods and services. As a matter of fact, my local barber accepts Bitcoin (and not because of me; they started accepting Bitcoin years before I moved to the area).
Not sure what third parties you’re referring to. Companies like BitPay offer merchant solutions so that customers can pay in Bitcoin; most companies don’t specialize in software development and can’t design their own point-of-sale bitcoin checkout software.
discussion comment
3 years ago
“Bitcoin was a bad idea waiting for a society so stupid to think it was a good idea.”
The historical evidence suggests otherwise. Many digital currencies were tried and failed before Bitcoin. Satoshi’s breakthrough in 2008 was the culmination of decades of experiments by computer scientists and cypherpunks. So, if Bitcoin was really such a bad idea, then how do you explain it’s success thus far? How do you explain all the major credit card companies adopting it? How do you explain Tesla buying $1.5 billion worth of Bitcoin? How do you explain a grassroots digital currency, that obviously would have been shut down by the US government if they could have shut it down, becoming a legal tender of a sovereign nation?
Your statement is intellectually dishonest.
discussion comment
3 years ago
@ilbbaicnl, you can’t send gold around the world at the speed of light. If you want to categorize Bitcoin as a non-productive asset because it doesn’t literally produce tangible items like food, clothes, cars, etc. then that’s fine. It’s not really a speculation, though, that the Fed will continue to increase the USD money supply by 7%+ every year, and it’s also not a speculation that there will only ever be 21 million BTC. It’s also not a speculation that transactions over the Lightning Network are cheaper than traditional CC transactions.
So, by simple supply/demand dynamics, the price (exchange ratio) of bitcoins should continue to go up, forever, because it’s a ratio of something that is infinite (fiat currency) to something that is of a fixed, finite supply. I.e. infinity/21million. It won’t matter if the boomers generally reject it… you’re all going to be dead soon anyway. The youth will adopt, and inherit, the bitcoins because it is to their advantage to store the value of their labor in a money that cannot be debased by the rapid production of new units.
Y’all need some lessons in praxeology, catallactics, and economics.
discussion comment
3 years ago
Bitcoin is economic egalitarianism and freedom from the Boomer-privileged, exclusionary financial system.
https://twitter.com/gladstein/status/1512493813218123786?s=21&t=Y2CSyJJihTk3SVIuOraNTw
If you’re against Bitcoin, then, on behalf of 80% of the human race—go f*** yourself.
discussion comment
3 years ago
It’s the #1 recurring buy asset on Robinhood.
https://twitter.com/documentingbtc/status/1512904548737818633?s=21&t=LePmZlIbLo3Nv0ywJk567Q
discussion comment
3 years ago
And, if it really is a Ponzi scheme, as you say it is, then it surely won’t survive for 5 more years.
How about this—it doesn’t even have to completely go away. If the USD price of Bitcoin, 5 years from today, is less than $20k, then I will concede that I was wrong.
Good luck! https://bitcoin.zorinaq.com/price/
discussion comment
3 years ago
“ SEC views BTC as a security ”
False.
“third, your SATOSHI Nakamoto is a made up person (FAKE as in a person that does not exist)”
Misleading and irrelevant. Everybody knows Satoshi Nakamoto is a pseudonym.
“ finally, BTC is based on blockchain is horribly inefficient to continue to create new coins as the string continues to expand requiring more and more energy use.”
No. Again, you don’t know what you’re talking about. I suggest you stop making claims that you can’t defend, be humble, and do a little studying.
discussion comment
3 years ago
“ only both parties need botcoin to use it.”
No.
“ FTS/other Hodlers realize they NEED to recruit other people so their bitcoins go up in value.”
Also no. Bitcoin is the hardest money in the world. It’s the LAST money that any rational person would spend. Most bitcoin holders are passing their Bitcoins to their children as generational wealth.
discussion comment
3 years ago
@ilbbaicnl, being an open technology doesn’t imply that Bitcoin isn’t a digital algorithm. The two are not mutually exclusive.
“You do not, as an owner of bitcoins, receive any royalties from any Blockchain user.”
You still don’t get it. Bitcoin is hard money, like gold. Do gold holders receive a royalty? What does a royalty have to do with anything? I can hold my Bitcoins and pass it on to my children. I can borrow against it at 0.000%. Can you do that? I can store my savings in a usb thumb drive, or in a password in my head, move to a different country, and never have to worry about my wealth being confiscated or repatriated. Citizens of emerging companies can completely bypass the detrimental effects of high inflation in the local currency be saving their earnings in Bitcoin and only converting that BTC into the local currency at the point-of-sale.
Also, technically speaking, Bitcoin holders can earn interest on the Bitcoin (in like kind, I.e. BTC interest on BTC interest-savings account). So actually, you’re wrong in two ways.
Who is the numbnuts now? Sadly, it’s still you.
discussion comment
3 years ago
Alright, desertscrub, put your money where your mouth is. How much do you want to bet that it’s not gone in 5 years? How about a gentleman’s wager—if it’s all NOT completely gone in 5 years, then you admit that you’re wrong about everything related to Bitcoin. If it IS gone in 5 years then I will admit that I was wrong about Bitcoin and everything related to Bitcoin.
discussion comment
3 years ago
Oh, and—
@PussyLicker2 doesn’t understand that PayPal is just another company that uses the traditional financial rails of fiat banks, and credit card companies, all of which operate by inefficient methods and techniques, whereas Strike is a company that harnesses the efficiency of Bitcoin / Lightning Network and completely bypasses all of the traditional financial rails.
discussion comment
3 years ago
So, to sum up—
@desertscrub is a scrub who doesn’t know what he’s talking about. He conflates altcoins with Bitcoin. He refuses to acknowledge that the IRS and the SEC and other government agencies have categorized Bitcoin as a digital commodity, and all other altcoins as securities. He doesn’t recognize that the innovation of Satoshi Nakamoto is akin to other major discoveries, and the alternatives are just copycat scams. He’s in denial.
@ilbbaicnl also doesn’t know what he’s talking about. He doesn’t understand the mechanics of Bitcoin mining and transaction signing/broadcasting. He thinks Bitcoin is a “non-productive asset,” which is only true if you exclude efficiencies gained through the creation and use of digital algorithms. And, he think’s it’s a mere speculation that the the price of Bitcoin will appreciate against the dollar, despite the fact that the number of Bitcoins that could possibly exist is capped at 21 million while the number of fiat dollars, euros, etc. that could possibly exist is INFINITY (and that’s where it’s headed).
@SanchoRG doesn’t realize that the proper way to graph an exponential function is to use a logarithmic scale. To answer your question, SanchoRG—YES, they can squeeze more blood out of that stone for as long as they want because the truth is there is no stone, and no blood, to squeeze. It’s just a number in a computer database, and they can make as many trillions as they want.
You all can keep working to accumulate, and measuring value in terms of (see Wikipedia “numeraire”), a number that is fundamentally unlimited and trivially easy to create more units.
I will work to accumulate, and measure value in terms of, a number that is of a fixed, finite quantity, a number that actually costs energy to produce more units.
discussion comment
3 years ago
I don’t expect you to be convinced because of some big name investors. That would be illogical.
Frankly, I don’t have any expectations. I’m just offering the good news. I’m spreading the news for free. You can do with it what you want.
The people who try to figure it out, fundamentally, at a philosophical, economic, and technological level… those people eventually see the light, and they recognize the value of Bitcoin. If it was an Excel spreadsheet, then why would over 100 million people, from all around the globe, use it? Go make a shared spreadsheet and see how far you get in making it a reliable and robust currency for over 100 million people. I dare you.
I’m offering the good news because it’s good. But, of course, some people never learned how to help themselves, so some people would rather bury their heads in the sand than recognize the truth.
discussion comment
3 years ago
@BitcoinHodler, what you’re describing is called the Realized Market Cap. You’re probably not even aware that there is a burgeoning industry in on-chain analytics that comes up with metrics like this, and many that are much more sophisticated.
The realized market cap of Bitcoin is about a half trillion.
No, Tetradon, I’m not mad. Why would I be? I own a large portion of the hardest currency in human history. I can use it to get 0% APR loans! It’s totally transformed my life, and I thank God for Bitcoin every day.
I am ashamed for all of you who don’t have a clue. “Spreadsheet.” If it’s a spreadsheet then go write it a transaction that gives yourself 10 bitcoins and then sell it for half a million dollars.
Oh wait, you can’t!
discussion comment
3 years ago
“Glorified spreadsheet”
Only an idiot could believe that a spreadsheet, or even a glorified spreadsheet, could be worth more than $1 trillion dollars.
Grow up.