Crypto

[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.

Exactly, there are so many real world applications of BTC just like gold, as well as the basic intrinsic value of there is cataclysmic events like a solar flare knocks out world power systems for months.

Remind me how a digital currency will work in a world without a power grid?

And with the way that fiat money is going with many places going cashless, how is that any different?

I went to Busch Gardens this weekend, and the entire park doesn’t accept cash at all. If that’s the way the world is going, how is that any different?

[Anonymous]

Anonymous wrote:

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.

And the fiat currency is different? I can pay for illegal activity with cash today. With Bitcoin, everything can be tracked. So how does that work?

Another example of someone who has no idea what you’re talking about. Everything on Bitcoin can be traced on the blockchain and is public. Unlike cash today.

[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?

Transactors and validators are usually anonymous. Traceable in some circumstances, but not easy.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

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.

And the fiat currency is different? I can pay for illegal activity with cash today. With Bitcoin, everything can be tracked. So how does that work?

Another example of someone who has no idea what you’re talking about. Everything on Bitcoin can be traced on the blockchain and is public. Unlike cash today.

Oh yeah, if it’s so public and traceable, who is Satoshi Nakamoto?

I think the fact that you think cash and bitcoin operate relatively the same demonstrates to you have no idea how our global financial system operates.

[Anonymous]

Anonymous wrote:

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.

Exactly, there are so many real world applications of BTC just like gold, as well as the basic intrinsic value of there is cataclysmic events like a solar flare knocks out world power systems for months.

Remind me how a digital currency will work in a world without a power grid?

And with the way that fiat money is going with many places going cashless, how is that any different?

I went to Busch Gardens this weekend, and the entire park doesn’t accept cash at all. If that’s the way the world is going, how is that any different?

Using the word “fiat” is my number one indicator im talking to a knucklehead.

But the way it’s different is that bank transfers of money have been cashless for decades. Credit card transactions are different from bitcoin because 1. An intermediary guarantees the debt, and 2. It can happen almost instantaneously through the credit card processor. If bitcoin was used for the trillions of transactions that happen per day, the world would grind to a halt.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

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.

Exactly, there are so many real world applications of BTC just like gold, as well as the basic intrinsic value of there is cataclysmic events like a solar flare knocks out world power systems for months.

Remind me how a digital currency will work in a world without a power grid?

And with the way that fiat money is going with many places going cashless, how is that any different?

I went to Busch Gardens this weekend, and the entire park doesn’t accept cash at all. If that’s the way the world is going, how is that any different?

Using the word “fiat” is my number one indicator im talking to a knucklehead.

But the way it’s different is that bank transfers of money have been cashless for decades. Credit card transactions are different from bitcoin because 1. An intermediary guarantees the debt, and 2. It can happen almost instantaneously through the credit card processor. If bitcoin was used for the trillions of transactions that happen per day, the world would grind to a halt.

So what exactly is the US dollar backed by?

I’ll wait.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

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.

Exactly, there are so many real world applications of BTC just like gold, as well as the basic intrinsic value of there is cataclysmic events like a solar flare knocks out world power systems for months.

Remind me how a digital currency will work in a world without a power grid?

And with the way that fiat money is going with many places going cashless, how is that any different?

I went to Busch Gardens this weekend, and the entire park doesn’t accept cash at all. If that’s the way the world is going, how is that any different?

Using the word “fiat” is my number one indicator im talking to a knucklehead.

But the way it’s different is that bank transfers of money have been cashless for decades. Credit card transactions are different from bitcoin because 1. An intermediary guarantees the debt, and 2. It can happen almost instantaneously through the credit card processor. If bitcoin was used for the trillions of transactions that happen per day, the world would grind to a halt.

Yup, saying "fiat money" when you aren't an econ professor is an almost 100% sign someone has gone down the YouTube rabbit hole.

[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.

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

I can not pump it. All retail combined can't pump it.
I already made enough, but I will try to do another 10x. It's like a challenge.
I suspect by 2028 more people will take note. Four years wasted though.

[Anonymous]

"Fiat" is a pretty common term to denote currency that is backed by nothing more than the collective goodwill of its users, and in the case of the US enormous military might and economic hegemony. I've never watched a YouTube video, but have read books about how money works. It isn't difficult to understand that after the gold standard was lifted, the dollar lost 90+ percent of its value. When the fed prints trillions of dollars, each dollar is worth less. That's the whole reason Nakamoto - probably Hal Finney - created Bitcoin, i.e., as a reaction to quantitative easing by which the fed floods the world with dollars in order to "manage" the economy.

[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.

It's most certainly not beyond the control of governments. Law enforcement and authoritarian regimes routinely trace and seize Bitcoin wallets. That's if you don't do something stupid and have your entire account drained by hackers... or the company that holds your Bitcoin goes bankrupt and/or steals it. Next week you will all be pumping up Nikki Haley NFTs or some other nonsense.

[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?

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

And the fiat currency is different? I can pay for illegal activity with cash today. With Bitcoin, everything can be tracked. So how does that work?

Another example of someone who has no idea what you’re talking about. Everything on Bitcoin can be traced on the blockchain and is public. Unlike cash today.

Oh yeah, if it’s so public and traceable, who is Satoshi Nakamoto?

I think the fact that you think cash and bitcoin operate relatively the same demonstrates to you have no idea how our global financial system operates.

The government has no reason to seize Nakamoto's assets, as he hasn't done anything illegal and hasn't been indicted or subject to a seizure order. When they do have reason to track and seize Bitcoin that is stolen or used in criminal activity they haven't had much trouble doing so - see Mt. Gox or the Silk Road seizure, among many, many others.

https://www.justice.gov/usao-sdny/pr/us-attorney-announces-historic-336-billion-cryptocurrency-seizure-and-conviction

https://www.justice.gov/usao-ndca/pr/russian-national-and-bitcoin-exchange-charged-21-count-indictment-operating-alleged

[Anonymous]

Anonymous wrote:"Fiat" is a pretty common term to denote currency that is backed by nothing more than the collective goodwill of its users, and in the case of the US enormous military might and economic hegemony. I've never watched a YouTube video, but have read books about how money works. It isn't difficult to understand that after the gold standard was lifted, the dollar lost 90+ percent of its value. When the fed prints trillions of dollars, each dollar is worth less. That's the whole reason Nakamoto - probably Hal Finney - created Bitcoin, i.e., as a reaction to quantitative easing by which the fed floods the world with dollars in order to "manage" the economy.

[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.

It's most certainly not beyond the control of governments. Law enforcement and authoritarian regimes routinely trace and seize Bitcoin wallets. That's if you don't do something stupid and have your entire account drained by hackers... or the company that holds your Bitcoin goes bankrupt and/or steals it. Next week you will all be pumping up Nikki Haley NFTs or some other nonsense.

That's like saying that because the police seized cash from someone's trunk that all cash is at risk of being seized at any moment, which is sort of true but only if they have physical access to it. Yes of course they can seize your BTC if they access the private key. If you know what you're doing you will have generated your public/private key pair on an air gapped machine and hidden it away. Much of the time due to laziness or incompetence someone will leave their keys on internet connected servers or on a PC/laptop. It would be like leaving cash sitting on your passenger seat and being surprised someone broke in and swiped it. Humans are always the weakest link.

[Anonymous]

For those thinking of getting in, typically about 90% of people lose money and are negative when the top of a cycle collapses.

I am a teacher. When my students start talking about that is when I know it is time to start divesting.

[Anonymous]

Anonymous wrote:For those thinking of getting in, typically about 90% of people lose money and are negative when the top of a cycle collapses.

I am a teacher. When my students start talking about that is when I know it is time to start divesting.

Have they started to talk about it? The run hasn't even started yet.