Crypto

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

There are 21 million bitcoins. The world is waking up to wanting them. Who fking cares? Buy it! Then wait 10 years and 20x your money. That’s it.

That sounds like tulip bulbs to me. At least they grow into beautiful plants. Crypto is just numbers, which I can make up for free.

Until someone can convince me that I want to own something that is effectively useless, I'm not buying any.

I get it. That makes sense.

However, I’ll be over here continuing to buying crypto related ETFs like hodl or FBTC and covered call high income weekly paying ETFs like BITC.

Your annoyance that crypto is profitable based on nothing, does not change the fact that it’s incredibly profitable. Bitcoin has beaten the S&P for the last 5 years. It’s been around for 16 years. The number one ETF in history is a Bitcoin etf. Maybe you should revisit your hesitation and just get on board.

Btc Is not profitable. There is no profit from holding BTC, only from selling it if it’s appreciated.

Notice ALL the PPs are all “buy and HODL forever”. There is no market, just whales coaxing rubes to goose their cash flow.

It can last a long time , that’s the nature of bubbles, but make no mistake there is no value here.

Banks and stock brokers functioned fine in the age of paper records, and with quantum hacking could return to that model pretty easily. Will have higher costs but hardly the end of the thing.

Nuclear codes aren’t on the internet, and can’t be hacked in any meaningful way — you call the two man crew and give them the football codes which are from a book of tables.

Dude. What you’re saying is plausible.

Most people don’t care, however. Blackrock doesn’t give a fck but are completely invested.

This thing keeps rising. Trump is starting a BTC/Eth/Solana ETF soon. Like so many people are invested in this 3 trillion dollar “ponzi” that it’s pretty much too big to fail. We have fking National crypto reserve. Yes, crypto will crash. Bitcoin will crash, but it will
Go back up like it always does.

You just don’t like it.

The issue is, its a $3 trillion valuation backed by nothing. You hold a bitcoin in your wallet and your app shows $125k. Where is that $125k of value? Not in a percent of ownership in a company, or in fiat backed bonds from governments or productive companies. When you buy a bitcoin where does your cash go? Likely out of the BTC ecosystem. When you sell it, and want to.convert it to fiat, where does the cash come from? It's more speculative than even the most speculative meme stock unhinged from underlying corporate valuation. It's backed by whales buying by raising debt (not easy to reverse back into cash) and governments like RU and NOKO (not the best place for your retirement money to be parked).

Set up a table at a crypto conference that has 50 wallets on it with 1 bitcoin each. See how many diehard crypto people walk by and take out a checkbook and write you a $125k check for one.