Crypto

[Anonymous]

Buy, don't buy. I don't care. I made money again today. I don't even work anymore.
We know it's cyclical and will come down from the highs. Don't be upset when you get in on top and don't know it's about to come down. Even then, you can wait for the next cycle as you keep buying and lowering your cost.

[Anonymous]

Anonymous wrote:Buy, don't buy. I don't care. I made money again today. I don't even work anymore.
We know it's cyclical and will come down from the highs. Don't be upset when you get in on top and don't know it's about to come down. Even then, you can wait for the next cycle as you keep buying and lowering your cost.

Totally. Bitcoin ain’t going away. I’m sorry people don’t like it. I get that it’s kind of idiotic, but at the same time it is now a 2 trillion dollar thing. People are buying it. There’s like 30 ETFs now for it. It’s finite and will keep rising and I will keep buying. Obviously, my first priority is like VTSAX and boring index funds and safer assets, but 1 or 2% in Bitcoin is fking smart. The entire world is buying it.

[Anonymous]

Anonymous wrote:

Anonymous wrote:Buy, don't buy. I don't care. I made money again today. I don't even work anymore.
We know it's cyclical and will come down from the highs. Don't be upset when you get in on top and don't know it's about to come down. Even then, you can wait for the next cycle as you keep buying and lowering your cost.

Totally. Bitcoin ain’t going away. I’m sorry people don’t like it. I get that it’s kind of idiotic, but at the same time it is now a 2 trillion dollar thing. People are buying it. There’s like 30 ETFs now for it. It’s finite and will keep rising and I will keep buying. Obviously, my first priority is like VTSAX and boring index funds and safer assets, but 1 or 2% in Bitcoin is fking smart. The entire world is buying it.

Same. But I'm older so I'm rich in Beanie Babies.

[Anonymous]

Bitcoin is valuable because it's basically a way for common people to provide financial services to criminals. That's the value prop.

[Anonymous]

Anonymous wrote:Bitcoin is valuable because it's basically a way for common people to provide financial services to criminals. That's the value prop.

Correct. Actual case is money laundering and untraceable payments.

[Anonymous]

I went big on nfts

[Anonymous]

Anonymous wrote:

Anonymous wrote:Bitcoin is valuable because it's basically a way for common people to provide financial services to criminals. That's the value prop.

Correct. Actual case is money laundering and untraceable payments.

I don’t get this because isn’t the block chain supposed to document everything?

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Bitcoin is valuable because it's basically a way for common people to provide financial services to criminals. That's the value prop.

Correct. Actual case is money laundering and untraceable payments.

I don’t get this because isn’t the block chain supposed to document everything?

It does. These sorts of posts just go to show anti-bitcoin folks generally have a tenuous grasp on the topic when they post. But hey, it’s interesting to see people post confidently out of their ass.

[Anonymous]

Anonymous wrote:

Anonymous wrote:But everyone told me it’s a scam…

It is. Remind me of the use cases?

Money laundering and moving money around the world without raising flags. Tremendous potential.

[Anonymous]

Anonymous wrote:BTC is a method of exchange that is electronic and is beyond the control of governments, this brings advantages and disadvantages. It protects you from harmful monetary policy choices like excessive money printing and authoritarian regimes that might arbitrarily seize your assets, but also carries disadvantages in that it’s a become a very useful to criminals.

Gold and physical cash need to be physically carried and stored, and the foot print is large. You can’t carry millions of dollars worth of gold or cash on your person without drawing attention, and it would also be physically cumbersome to do so.

There are compelling reasons for BTC to exist. As the world becomes more geopolitically unstable and we see a rise in corrupt jack booted thug states like Russia and China that arbitrarily seize assets from their citizens and idiotic money printing leading to higher inflation we will start to see more uses of bitcoin. In the opening days of the Russian invasion BTC saw a significant price spike due to everyone trying to get their money out of the country.

Sure, governments can track bitcoin and regulate the fiat off ramps, but this only works because fiat currency is the dominant method of exchange. If fiat usage declines in the coming decades and people start transacting exclusively in crypto it will become much harder to track and control the flow of digital assets.

BTC isn't protecting you from jack booted thugs.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Bitcoin is valuable because it's basically a way for common people to provide financial services to criminals. That's the value prop.

Correct. Actual case is money laundering and untraceable payments.

I don’t get this because isn’t the block chain supposed to document everything?

It does. These sorts of posts just go to show anti-bitcoin folks generally have a tenuous grasp on the topic when they post. But hey, it’s interesting to see people post confidently out of their ass.

LOL. Except that it being on the blockchain doesn’t “document” anything with regards to financial crimes. International criminals are incredibly sophisticated to the extent that they’re STILL using the banking system and circumventing all the controls. Bitcoin permits them to evade much easier bc of the portability and, even though you disagree, anonymity. Bitcoin is enabling cartels, terrorists, and adversarial nations to move money around the world and make purchases, that maybe one day someone can unwind and figure out where the money went but by that time has already bypassed controls and sanctions and is out in the world, laundered, and replaced with clean money.

[Anonymous]

Anonymous wrote:Buy, don't buy. I don't care. I made money again today. I don't even work anymore.
We know it's cyclical and will come down from the highs. Don't be upset when you get in on top and don't know it's about to come down. Even then, you can wait for the next cycle as you keep buying and lowering your cost.

Why are you coming here to pump it then? Just keep quietly buying and laugh at the doubters?

[Anonymous]

Anonymous wrote:

Anonymous wrote:BTC is a method of exchange that is electronic and is beyond the control of governments, this brings advantages and disadvantages. It protects you from harmful monetary policy choices like excessive money printing and authoritarian regimes that might arbitrarily seize your assets, but also carries disadvantages in that it’s a become a very useful to criminals.

Gold and physical cash need to be physically carried and stored, and the foot print is large. You can’t carry millions of dollars worth of gold or cash on your person without drawing attention, and it would also be physically cumbersome to do so.

There are compelling reasons for BTC to exist. As the world becomes more geopolitically unstable and we see a rise in corrupt jack booted thug states like Russia and China that arbitrarily seize assets from their citizens and idiotic money printing leading to higher inflation we will start to see more uses of bitcoin. In the opening days of the Russian invasion BTC saw a significant price spike due to everyone trying to get their money out of the country.

Sure, governments can track bitcoin and regulate the fiat off ramps, but this only works because fiat currency is the dominant method of exchange. If fiat usage declines in the coming decades and people start transacting exclusively in crypto it will become much harder to track and control the flow of digital assets.

BTC isn't protecting you from jack booted thugs.

Nice try, but there is no reason the same thing wouldn't happen with passwords for bank accounts or brokerage accounts. Someone could hit you with a wrench to force a withdrawal from an ATM or sale of Apple from a Schwab account just as easily as a transfer from an ETF or a digital wallet.

As for the objection up the chain that Bitcoin is worthless if the grid goes down, everyone will have much bigger problems than access to currency if the grid goes down for any appreciable time. If people know you have gold at home you're probably a target in any apocalypse scenario.

And the stuff about money laundering is just dumb at this point - it's a badly outdated boogeyman from uninformed haters. The fact that DOJ and other enforcement agencies around the world have recovered huge quantities of Bitcoin from hacks and other illegal operations that were more prevalent in the early days pretty clearly shows it isn't a very effective way to hide assets. And now you can buy Bitcoin through Fidelity and BlackRock. I don't work in AML or KYC but I'm pretty sure they have solid controls in place.

We're talking about an asset that has increased in value from less than a buck to over $56,000 in something over a decade, and has attracted investment from some of the largest and most sophisticated asset managers in the world. Perhaps there is something to it.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:BTC is a method of exchange that is electronic and is beyond the control of governments, this brings advantages and disadvantages. It protects you from harmful monetary policy choices like excessive money printing and authoritarian regimes that might arbitrarily seize your assets, but also carries disadvantages in that it’s a become a very useful to criminals.

Gold and physical cash need to be physically carried and stored, and the foot print is large. You can’t carry millions of dollars worth of gold or cash on your person without drawing attention, and it would also be physically cumbersome to do so.

There are compelling reasons for BTC to exist. As the world becomes more geopolitically unstable and we see a rise in corrupt jack booted thug states like Russia and China that arbitrarily seize assets from their citizens and idiotic money printing leading to higher inflation we will start to see more uses of bitcoin. In the opening days of the Russian invasion BTC saw a significant price spike due to everyone trying to get their money out of the country.

Sure, governments can track bitcoin and regulate the fiat off ramps, but this only works because fiat currency is the dominant method of exchange. If fiat usage declines in the coming decades and people start transacting exclusively in crypto it will become much harder to track and control the flow of digital assets.

BTC isn't protecting you from jack booted thugs.

Nice try, but there is no reason the same thing wouldn't happen with passwords for bank accounts or brokerage accounts. Someone could hit you with a wrench to force a withdrawal from an ATM or sale of Apple from a Schwab account just as easily as a transfer from an ETF or a digital wallet.

As for the objection up the chain that Bitcoin is worthless if the grid goes down, everyone will have much bigger problems than access to currency if the grid goes down for any appreciable time. If people know you have gold at home you're probably a target in any apocalypse scenario.

And the stuff about money laundering is just dumb at this point - it's a badly outdated boogeyman from uninformed haters. The fact that DOJ and other enforcement agencies around the world have recovered huge quantities of Bitcoin from hacks and other illegal operations that were more prevalent in the early days pretty clearly shows it isn't a very effective way to hide assets. And now you can buy Bitcoin through Fidelity and BlackRock. I don't work in AML or KYC but I'm pretty sure they have solid controls in place.

We're talking about an asset that has increased in value from less than a buck to over $56,000 in something over a decade, and has attracted investment from some of the largest and most sophisticated asset managers in the world. Perhaps there is something to it.

Haha, ATM withdrawals are limited to what $300? Schwab account stick up — sell my Apple stock, then wait to days for it to settle and then wire the money? I mean sure state actors would have the patience but BTC is irreversible and has zero legal protections.

And that’s by design. It’s actually an NSA honeypot, that’s why Satoshi is a mystery. They drove up the value to make it attractive to criminals to move large sums of money, and basically they have back doors to every illicit transaction out there.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:But everyone told me it’s a scam…

It is. Remind me of the use cases?

At this point, Bitcoin is here to stay. You’ve got ETFs. You’ve got massive inflows. When people think crypto they think Bitcoin. It’s sort of like gold. An alternative investment. It’ll be around. It’ll go up. Michael Saylor was right.

You think bitcoin is so embedded in the economy it can’t go away (it’s not and it can) but that the USD is going to go away one day (debatable but lean hard no).

Different poster. BTC has a lot of demand internationally and IMO is a good way to de-risk from the US market. If you’re the type to buy international funds it wouldn’t hurt to allocate a fraction of that to crypto. If the US market loses dominance in the future it should not affect BTC too much.

Yet nothing compared to the international demand for the dollar.