Finite supply. Unlike the depreciating dollars in your wallet. Don't buy bitcoin if you don't want to.

Everything is finite supply. Yet there are plenty of things that are worth basically nothing. I think that someday BTC will be included in that set.

You will get it eventually. Until then, don't buy it.

Monywolf said:

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You will get it eventually. Until then, don't buy it.

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I already get it. That's why i don't buy bitcoin. That's the point.

aTmAg said:

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Everything is in limited supply. Just because something is in limited supply doesn't mean it has value. There are more bitcoin than Theranos products ever produced. That doesn't mean buying either is a good idea.

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Prove it. Prove right now the supply limit of whatever you're claiming. How many things can you confirm the supply at any given moment with 100% accuracy?

Adverse Event said:

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aTmAg said:

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Everything is in limited supply. Just because something is in limited supply doesn't mean it has value. There are more bitcoin than Theranos products ever produced. That doesn't mean buying either is a good idea.

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Prove it. Prove right now the supply limit of whatever you're claiming. How many things can you confirm the supply at any given moment with 100% accuracy?

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So you think that for me to "prove" the claim "there is a finite number of humans on Earth" that I have to specify exactly how many humans there are on Earth? Really?

That's not how it works.

There are those who own bitcoin, and those who will. But at a higher price.

aTmAg said:

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Adverse Event said:

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I don't really know how to talk to people who've been aware of bitcoin for a decade and still don't grasp it. I'm still trying, which says a lot. I admire Sisyphus, at least he doesn't have an option.

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That's like saying, "I don't know how to talk to people who have been aware of flat earth for a decade and still don't grasp it." Bitcoin is not a complicated concept to grasp. Especially for a software engineer who used to specialize in cryptography. People like me don't disagree because we don't "grasp it" we disagree because we do grasp it.

Don't be like those conspiracy theorists who refuse to consider that perhaps they may actually be wrong.

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Ok, so in terms of Michael Saylor's opinion and breakdown of Bitcoin, how does your differ??

You being a software engineer and he being a software engineer.

https://finbold.com/4-5-trillion-fidelity-says-bitcoins-risk-reward-is-in-a-different-universe/

In essence, when supply is not transparent or auditable, decision-making becomes more complex and often relies on a combination of indirect indicators, historical data, trust, and risk management strategies.

LatinAggie1997 said:

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aTmAg said:

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Adverse Event said:

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I don't really know how to talk to people who've been aware of bitcoin for a decade and still don't grasp it. I'm still trying, which says a lot. I admire Sisyphus, at least he doesn't have an option.

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That's like saying, "I don't know how to talk to people who have been aware of flat earth for a decade and still don't grasp it." Bitcoin is not a complicated concept to grasp. Especially for a software engineer who used to specialize in cryptography. People like me don't disagree because we don't "grasp it" we disagree because we do grasp it.

Don't be like those conspiracy theorists who refuse to consider that perhaps they may actually be wrong.

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Ok, so in terms of Michael Saylor's opinion and breakdown of Bitcoin, how does your differ??

You being a software engineer and he being a software engineer.

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Being a software engineer doesn't mean you also know economics. Just look at 90% of the staff at Google.

While being a SW engineer better enables one to understand the algorithm, that doesn't mean one understands the economics of why bitcoin fails as a currency.

Adverse Event said:

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In essence, when supply is not transparent or auditable, decision-making becomes more complex and often relies on a combination of indirect indicators, historical data, trust, and risk management strategies.

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This is nonsense. You really think Apple knows the number of Android phones in the market at any given time? Hell no. The beauty of the free market and the price system is that nobody has to know any of that crap to evaluate supply and demand.

And to draw S/D curves as evidence that the supply of anything is infinite is even more nonsensical. The entire Earth is made of a finite number of atoms. The idea that the supply of any physical product can be infinite is facepalm worthy.

aTmAg said:

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Being a software engineer doesn't mean you also know economics. Just look at 90% of the staff at Google.

While being a SW engineer better enables one to understand the algorithm, that doesn't mean one understands the economics of why bitcoin fails as a currency.

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I'm probably in a very small minority of people that hold degrees in both Economics and Computer Science. But that's about as far as I interject in these kind of discussions.

RockOn said:

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aTmAg said:

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Being a software engineer doesn't mean you also know economics. Just look at 90% of the staff at Google.

While being a SW engineer better enables one to understand the algorithm, that doesn't mean one understands the economics of why bitcoin fails as a currency.

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I'm probably in a very small minority of people that hold degrees in both Economics and Computer Science. But that's about as far as I interject in these kind of discussions.

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Well, to be frank, the field of economics is so wide open that even that may not be enough. Unlike real sciences like Physics, where modern PhD's basically agree on 99% of their field and only disagree on the bleeding edges, economic PhDs disagree on 90% of their field. Look no farther than the Nobel Prize winners like Milton Friedman and Paul Krugman for a good example. I basically consider Keynesianism to be the alchemy of economics, so to me even that wouldn't count.

A bunch of typing to describe a non-productive asset.

birdman said:

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A bunch of typing to describe a non-productive asset.

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That's the dollar.

And that's why many more companies will have bitcoin as part of their treasury holdings very soon.

one safe place said:

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I found a bitcoin in the parking lot last week, guess someone didn't know they dropped it.

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Maybe that's one of the ones my good friend lost. He talks about it often but I just don't really understand the conversation. I'll stick with what I do best.

Monywolf said:

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birdman said:

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A bunch of typing to describe a non-productive asset.

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That's the dollar.

And that's why many more companies will have bitcoin as part of their treasury holdings very soon.

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Not the smart ones.

aTmAg said:

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Monywolf said:

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birdman said:

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A bunch of typing to describe a non-productive asset.

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That's the dollar.

And that's why many more companies will have bitcoin as part of their treasury holdings very soon.

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Not the smart ones.

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Even Berkshire Hathaway's holdings are exposed to bitcoin, you know ol Rat poison?

Which of the smart companies are gonna be the strongest holdouts?

The "smart companies" seem to neg bitcoin then invest hundreds of millions during the negative price actions


Is thus what you're really doing AtmAg? Nagging on bitcoin to affect price action so you can buy it cheaper?

Pretty unethical, I must say. Maybe deserves an investigation.

JP Morgan, Goldman Sachs and George Soros all caught in lies spreading #Bitcoin and cryptocurrency FUD.

The whole time they were capitalizing on the negative price action. 🤯

Watch what they do, NOT what they say!pic.twitter.com/pQykqDzgaN

— The ₿itcoin Therapist (@TheBTCTherapist) November 6, 2023

Adverse Event said:

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aTmAg said:

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Monywolf said:

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birdman said:

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A bunch of typing to describe a non-productive asset.

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That's the dollar.

And that's why many more companies will have bitcoin as part of their treasury holdings very soon.

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Not the smart ones.

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Even Berkshire Hathaway's holdings are exposed to bitcoin, you know ol Rat poison?

Which of the smart companies are gonna be the strongest holdouts?

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Berkshire has over $300 billion in holdings. They obviously have indirect exposure to Bitcoin, along with every other thing on the planet.

BH owns zero bitcoins.

https://www.forbes.com/sites/digital-assets/2023/10/13/warren-buffett-revealed-to-be-quietly-make-bank-from-bitcoin-and-crypto-amid-price-swings/amp/

Wow best performing asset is the one that holds bitcoin.

Rat poison indeed.

When you have to keep lying to pimp your product, you aren't fooling anyone.

Nubank has small percentage in crypto. BH invested in a growing bank that has 99% typical holdings.

Who is lying? I just posted an article from Forbes. The bank has 1% of their holdings in it. Buffet has invested 3/4 billion in the bank.

birdman said:

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When you have to keep lying to pimp your product, you aren't fooling anyone.

Nubank has small percentage in crypto. BH invested in a growing bank that has 99% typical holdings.

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Quote:

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Nubank, the largest Brazilian digital bank by market value, is adding the option for customers to buy and sell bitcoin (BTC) and ether (ETH) on its platform, the company announced Wednesday.

Nu Holdings, Nubank's parent company, also said it is allocating roughly 1% of the cash on its balance sheet to bitcoin to show its belief in the cryptocurrency

Until now, Nubank allowed users to invest in crypto only through exchange-traded funds available through its investment unit, NuInvest, according to the company's website.

"There is no doubt that crypto is a growing trend in Latin America, one that we have been following closely and believe will have a transformational impact on the region. Yet the trading experience is still very niche as customers either lack information to feel confident to enter this new market or just get frustrated by complex experiences," Nubank CEO and co-founder David Vlez said in a statement.

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Sounds very typical, having minimum of 1% of business treasury in the hardest asset, Bitcoin.

Adverse Event said:

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birdman said:

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When you have to keep lying to pimp your product, you aren't fooling anyone.

Nubank has small percentage in crypto. BH invested in a growing bank that has 99% typical holdings.

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Quote:

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Nubank, the largest Brazilian digital bank by market value, is adding the option for customers to buy and sell bitcoin (BTC) and ether (ETH) on its platform, the company announced Wednesday.

Nu Holdings, Nubank's parent company, also said it is allocating roughly 1% of the cash on its balance sheet to bitcoin to show its belief in the cryptocurrency

Until now, Nubank allowed users to invest in crypto only through exchange-traded funds available through its investment unit, NuInvest, according to the company's website.

"There is no doubt that crypto is a growing trend in Latin America, one that we have been following closely and believe will have a transformational impact on the region. Yet the trading experience is still very niche as customers either lack information to feel confident to enter this new market or just get frustrated by complex experiences," Nubank CEO and co-founder David Vlez said in a statement.

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Sounds very typical, having minimum of 1% of business treasury in the hardest asset, Bitcoin.

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Indeed

Thanks to Sam, more of the masses have been inoculated and generated a new immune response for future attacks.

Every time a swindler comes along, we add another blueprint to our library. The bitcoin world is like an AI, training to better discern ally from attacker. Next step is to build tech, practices, and institutions that make the ecosystem more immune from these fraud attacks. pic.twitter.com/uTa8kFnqwk

— Tuur Demeester (@TuurDemeester) November 7, 2023

Resilience is a virtue. Learning the hard way benefits everyone. Any other method of learning is a version of "the telephone game".

Also this:

#BTC pic.twitter.com/8PQ3Y8J6WO

— naiive (@naiivememe) November 7, 2023

I wish I had a compilations of all of Atmag's and bmks and other middies historical quotes on the topic, unfortunate politics board autodeletes... so much ammo destroyed.

One bear market, two perspectives.

Don’t get fooled into attending bitcoin’s next funeral. pic.twitter.com/5rHZ1Hy0Jz

— Tyler Campbell (@clockwork_prior) November 7, 2023

I guess my big question, for those with such certainty, when does bitcoin fail, 5 years? 20 years? 140 years? The instant quantum computing destroys sha-256 or all encryption?

What's the prognostication, what should we set a reminder on?

Seems like a software engineer should understand what a breakthrough it was to finally solve the Byzantine Generals' Problem.

@NFLPlayerProps said:

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Seems like a software engineer should understand what a breakthrough it was to finally solve the Byzantine Generals' Problem.

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Bitcoin blows minds for many reasons.

Computer scientists say Satoshi solving the Byzantine Generals problem blew their minds.

Economists might be mystified by an asset that goes up in price without producers increasing production to increase supply.

Oil drillers say finding…

— Jameson Lopp (@lopp) November 8, 2023

If your mind isn't blown in some capacity because of bitcoin, I'd question its existence.

He plays a software engineer on tv.

Adverse Event said:

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@NFLPlayerProps said:

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Seems like a software engineer should understand what a breakthrough it was to finally solve the Byzantine Generals' Problem.

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Bitcoin blows minds for many reasons.

Computer scientists say Satoshi solving the Byzantine Generals problem blew their minds.

Economists might be mystified by an asset that goes up in price without producers increasing production to increase supply.

Oil drillers say finding…

— Jameson Lopp (@lopp) November 8, 2023

If your mind isn't blown in some capacity because of bitcoin, I'd question its existence.

He plays a software engineer on tv.

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Agreed. I totally understand thinking Bitcoin won't catch on or will get over regulated, etc. However, I completely don't understand those that don't get the value proposition of Bitcoin.