discussion comment
3 years ago
Yes, it’s a scam. A “blockchain” is just a data structure, first developed in 1991, that was popularized by Satoshi Nakamoto with his creation of Bitcoin. Some people hold the misconception that a blockchain can somehow provide security for things that are foreign to the blockchain itself, but that simply isn’t true. The thing that is secured by a maximally decentralized, proof-of-work blockchain is the blockchain itself, e.g. the internal accounting of Bitcoin. To be more accurate—the Bitcoin blockchain is secured by the re-alignment of economic incentives with human biological incentives, I.e. “I want to survive and thrive, therefore I will hold the hardest money available in my socioeconomic environment.” The positive feedback loops that are inherent in Bitcoin—through this realignment of incentives—is the mechanism that has driven the price of Bitcoin to such high levels.
To believe that some external thing—be it digital art, or title to real estate—could possibly be secured by “a blockchain” is ridiculous: a bunch of 1s and 0s on a computer, or even 1s and 0s on millions of computers, cannot prevent a tank from blowing up a building. Similarly, a bunch of 1s and 0s that are stored in a distributed blockchain database cannot prevent me from executing the copy function (copy-paste) on some data that is not inherent to the blockchain database.
Do not be mistaken—the digital art itself (the pictographic data) is not inherent to any NFT blockchain; those blockchains merely secure “records of ownership” and records of ownership transfers. But, claiming to own some digital art that can be duplicated and distributed throughout the internet, just because there is a cryptographic “record of payment” that is distributed on some computers, is an extreme fetishization of the concept of ownership. I would encourage anyone to look up the words “ownership” and “property” in a dictionary and consider how in the world one could claim to own a digital pattern of 1s and 0s in the absence of some force that would exclude others from possessing that same pattern of 1s and 0s.
The real use-case these days is for money laundering or tax evasion by the rich; cryptocurrency, and related concepts, are so technical and abstract that the IRS is unlikely to get a firm grasp on these topics to have the confidence to start cracking down on the fraud that’s occurring within the NFT and crypto space.
discussion comment
3 years ago
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TetradonI'll act nicer if you'll act smarter.
Bitcoin breaks above 100k. At least one more nation declares Bitcoin as legal tender. At least one more public company converts a significant portion of its treasury into Bitcoin.
Governments continue to push the COVID fear mongering vaccine mandate propaganda. Most down-to-earth, honest and intelligent folk either tolerate and disregard it, or push back against it.
Central banks continue their asset purchasing programs for at least the first two quarters. Monthly CPI data stays above 3%, and possibly hits 8% or more. S&P 500 index goes above 5500.
discussion comment
3 years ago
Thanks, y'all, for the intel. I don't mind a quick x-ray and bag search; what would I be worried that they would find? I'm just there for the girls, so even if I brought some sex toys it's not like anybody would be surprised or embarrassed! In fact, if it ensures no other fucktards commit violence then I'm all for it.
review comment
3 years ago
What I consider fat may not be what most people consider fat. If she’s 5’6” and 150 lbs, I would consider her fat.
discussion comment
4 years ago
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PutaTesterWest Coast. He who dies with the most memories wins.
tahoecruz, seriously? I have discarded the possibility of visiting HK because it's my understanding that the US-Mexico land border is closed to all non-essential activity (I suppose members on this forum could argue that visiting HK IS essential, but I doubt the border officers would agree). Seems like what you're saying is that that's not really true, or perhaps it's merely policy that isn't enforced.
discussion comment
4 years ago
You know what else is used as medium of exchange to do terrible, terrible things?
The US dollar.
discussion comment
4 years ago
@Mark94 that’s a nice straw man, did you make it yourself?
discussion comment
4 years ago
@BitcoinHodler has never understood how Bitcoin works, and his perspective is very much rooted in the same soil, so to speak, as is Keynesian economics. The differences between Keynesian economics and Austrian economics stem from a a fundamental difference in presuppositions about the world and humanity. BitcoinHodler, and Keynesian economists, choose to elevate themselves by reducing others, while Austrian economists edify themselves by elevating the status of others within their own minds. Keynesian economists consider humanity as a herd of cattle to be controlled, which is why they focus so much on the aggregate demand of the human “herd,” which sometimes requires “stimulation” by the unfair creation of new monetary units. It is a sick and twisted perspective. Austrian economists begin with the fundamental presupposition that our brothers and sisters are rational individuals whose autonomy is, and should be, respected, and that all valuation is subjective. Keynesian economists assume that they, and only they, know what is truly valuable, and the human “herd” is to stupid to decide what is truly valuable.
BitcoinHodler has been educated in a fundamentally flawed theory of economics that is disrespectful to humanity, and I hope, for his sake, that he re-educates himself in humility and truth.
That is all.
discussion comment
4 years ago
What’s the Sharpe ratio of Bitcoin compared to S&P 500, bonds, and gold? How do they compare? These are rhetorical questions for the reader to answer for himself or herself, I already know the answer.
Don’t miss the forest for the trees.
discussion comment
4 years ago
@BitcoinHodler I’m writing this with the most respect that I can possibly muster...
... you’re an idiot.
discussion comment
4 years ago
Yes, I was wearing very thin athletic pants that were all black except for a small Reebok logo near the top. My shirt usually covers it, and in the dim light these pants look like dress pants, especially when I'm also wearing dress shoes and buttoned shirt. But, unfortunately, bouncer saw the logo and realized they were athletic pants, and didn't let me in.
discussion comment
4 years ago
Bitcoin is where the real money is at. It's been sitting in plain view for over a decade, now. Michael Saylor, the CEO that bought $1 billion worth of Bitcoin last year, is holding a "Bitcoin for corporations" conference next week, and he's gone on record on CNBC saying that 1000s of CEO, CFOs, CIOs etc. have signed up to attend. If they all decide to copy Microstrategy's strategy.... watch out! Bitcoin will explode.
Michael Saylor's analogy is correct: all you people saving your money in fiat, or fiat denominated assets, are living in a world that is made inhospitable by the central banks. Since adopting the Bitcoin standard, I'm basically twice as "wealthy" as measured in USD.
"Oh, but, but, we NEED to print money, to ummm... save the banks when they fail due to their own irresponsibility! How can we live without the negligent, corrupt bankers?!"
discussion comment
4 years ago
@BitCoinHodler. Have fun being poor.
discussion comment
4 years ago
Subraman, I'm familiar, it's a lot like calling somebody an asshole. And, I wasn't the one who used any words incorrectly, so I'm not sure why you're suggesting I look up anything in a dictionary (sarcasm, I know exactly why, asshole). I just enjoy correcting people when they're wrong.
You wanted to fuck around so you used the word "retarded" incorrectly. Let's move on.
discussion comment
4 years ago
Subraman, no you didn't, you're using the word "retarded" incorrectly. I suggest a dictionary. Also, you seem to have a misconception of the word "belief." Not all beliefs are based on nothing but blind faith. Beliefs can be based on very strong evidence and logic. Perhaps you should take a course on epistemology.
retarded
[ ri-tahr-did ]
verb - simple past tense of retard.
adjective - Older Use: Usually Offensive. characterized by a slowness or limitation in intellectual understanding and awareness, emotional development, academic progress, etc.
I'll give you the benefit of the doubt that you purposely used those words incorrectly.
discussion comment
4 years ago
No, Subraman, you did not describe retarded people.
A lot of those well-educated people who didn't believe in Bitcoin are now buying. Remember when Jamie Dimon called Bitcoin a fraud? JP Morgan Chase is now predicting 300k bitcoin. One of Bitcoin's harshest critics, Nouriel Roubini, recently admitted that Bitcoin may be a store of value. How about Larry Fink, CEO of Blackrock - the world's largest asset manager, with over $7 trillion under management - he updated his stance on Bitcoin, and now acknowledges its potential GLOBAL relevance. Former Bitcoin non-believer, Mike McGlone, senior commodity strategist at Bloomberg Intelligence, now believes in Bitcoin and predicts it will hit 100k. Ray Dalio also recently admitted that Bitcoin may be an alternative to gold. Michael Saylor, CEO of Microstrategy, said in 2013 that Bitcoin is just for gambling, and now he's invested about $1 billion of his company's treasury into Bitcoin.
One by one, they've been converted and are bullish, because Bitcoin is the hardest form of money in existence. They are old boomers, but they are either smart enough, or they are surrounded by enough smart people, to have figured it out and changed their belief.
But, perhaps you're right, perhaps they're all retarded. Perhaps Paul Tudor Jones, Stanley Drunkenmiller, Bill Miller, Jim Cramer, Michael Saylor (who graduated from MIT), Larry Fink.... perhaps they're ALL retarded, with IQs less than 70. And yet, they're all billionaires, or close to it.
I wonder what that says about you.
Now I'll forget about the "retarded" comment as mere hyperbole.
discussion comment
4 years ago
Subraman, you would do well to study some economics and finance..... and history! There are quite a few very well-educated people--economists, historians, extremely successful hedge fund investors--who believe in Bitcoin because of macro-economic and political reasons. And it's playing out exactly as they predicted.
In other words, don't you dare call me retarded, asshole.
discussion comment
4 years ago
*cough* $16300, +120% YTD, *cough*
Sorry, I've had a cough lately.
discussion comment
4 years ago
Short it
discussion comment
4 years ago
“Beneath this mask there is more than flesh, Beneath this mask there is an idea, Mr. Creedy, and ideas are bulletproof.” - V
Everyone will eventually understand the idea of Bitcoin, it’s just a matter of time. Some will just understand it later than they ought to.
Naysayers have nothing to fear; Bitcoin is clearly not catching on. Nothing to see here:
https://twitter.com/jamesviggy/status/1324463706827157504?s=21
discussion comment
4 years ago
Technically, the second to last sentence was not an objective statement, it was a subjective opinion. Not that it matters, my comment wasn’t meant to dispute any facts, nor do I dispute any of the facts now.
discussion comment
4 years ago
^^^ Watch out, we got a genius up in here!
Lmao.
discussion comment
4 years ago
FYI, a comparison of Bitcoin chart before 2017 vs now:
https://i.imgur.com/VKq0NG9.jpg
discussion comment
4 years ago
Any platform that is reputable and isn’t going to run away with your bitcoins is an okay way to buy bitcoins. From there the only improvements are in the fees that you pay, and in the principles of the business. In those areas, www.swanbitcoin.com is actually a great platform. Their fees are lower than Coinbase (although, not lower than Coinbase Pro), they set automatic recurring buys, and they also encourage users to set up automatic withdrawals to the user’s personal bitcoin storage (like a cold storage hardware wallet). I’ve been a customer since April; you just set it up and forget about it. No trading, just an automatic way to save money in Bitcoin.
discussion comment
4 years ago
For the record, the best way to buy Bitcoin is dollar-cost-average buys, I.e. buy a little bit at regular intervals, like $10 per week. I actually did the math: if you had started buying a little bit, every week, since the bubble in 2017 three years ago, the value of your bitcoins now would be double the value of just saving the same amount in US dollars.
Compare that to an investment in the stock market.
Www.Swanbitcoin.com
Www.coinbase.com
Www.kraken.com (which is now, officially, a chartered bank)
The CashApp
PayPal