****ing Bitcoin, man. You gotta love it. We see people that are experiencing the destruction of their currency flocking to it as something to hold.

But it feels so good to be associated with Bitcoin. Kind of like I bet Tesla owners feel but I think deeper because I really think that it's the future. What if some major event caused my family and my neighbors everything? At least I still have that asset. I see what happened over night to the Ukrainians.

1872walker said:

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I like the idea behind Bitcoin, but to me there are issues with crypto in general that need to be sorted out before you'll get widespread acceptance.

First, the lack of a standard. Sure BItcoin is the market leader, but with the plethora of currencies it seems the market needs to sort itself out. Nobody wants to be left holding the equivalent of 3 trillion Zimbabwe dollars or whatever that's worth a penny.

It seems that the speculative nature of it precludes it from replacing any currencies.

The volatility around it makes me question its use as a speculative investment (or a hedge) compared to physical assets be it real estate or precious minerals.

And the fact that the IRS requires you to treat it as realized gains when sold or even used for purchases makes it even harder to get enthusiastic about.

If Bitcoin had a more stable value, I'd be jumping in. If the IRS would take a hands off approach, I'd definitely be interested. I am trying to educate myself and stay current. I see the possibilities but the headwinds are strong enough to hinder my enthusiasm.

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I recommend the whitepaper "The Bullish Case for Bitcoin" and then read "The Bitcoin Standard" if you are educating yourself.

Quote:

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We all applauded this capability last week wrt to Canada, but it is a double edged sword

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Economics is a study of incentives and trade offs.
Bitcoin will still have social and economic costs, it may be lowering those costs but at the same time is shifting those costs. To whom and to where those costs will go remains to be figured out.

Palovic said:

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Back to shaving gold off the bar for Rebel.

What did the Ukrainian Govt ask for from the world to help the Ukrainian Army countervail the Russian kinetic attack..........

Bitcoin, ETH, and USDT.

NOT Gold or USD

Wars cost money and NATO donations can't not be counted on.

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Ukraine is waging cyber attacks, too.

Precious metals cannot be hacked.

…but yes. Flocking to "money" that doesn't exist outside of a network sounds like a good idea. Keep buying nothing.

Just to be clear, I think this is a Ukrainian tactic. We'll see how the network falls - - or at least 51s. A big question about a 51% attack has been, "how do you get that much processing power to want to be "wrong?" This might be it.

tysker said:

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Quote:

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We all applauded this capability last week wrt to Canada, but it is a double edged sword

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Economics is a study of incentives and trade offs.
Bitcoin will still have social and economic costs, it may be lowering those costs but at the same time is shifting those costs. To whom and to where those costs will go remains to be figured out.

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The cost shift will be to the coin holders in a BTC economy. We know fiat shifts the weight of inflation to the citizens and the citizens have zero say on budget under a fiat system. Inflation is taxation without legislation

TexasRebel said:

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Palovic said:

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Back to shaving gold off the bar for Rebel.

What did the Ukrainian Govt ask for from the world to help the Ukrainian Army countervail the Russian kinetic attack..........

Bitcoin, ETH, and USDT.

NOT Gold or USD

Wars cost money and NATO donations can't not be counted on.

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Ukraine is waging cyber attacks, too.

Precious metals cannot be hacked.

…but yes. Flocking to "money" that doesn't exist outside of a network sounds like a good idea. Keep buying nothing.

Just to be clear, I think this is a Ukrainian tactic. We'll see how the network falls - - or at least 51s. A big question about a 51% attack has been, "how do you get that much processing power to want to be "wrong?" This might be it.

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Is it groundhog day? It must be because your comments are littered with the same inaccuracies as when you started this thread

Thanks

1872walker said:

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I like the idea behind Bitcoin, but to me there are issues with crypto in general that need to be sorted out before you'll get widespread acceptance.

First, the lack of a standard. Sure BItcoin is the market leader, but with the plethora of currencies it seems the market needs to sort itself out. Nobody wants to be left holding the equivalent of 3 trillion Zimbabwe dollars or whatever that's worth a penny. The scarcity of Bitcoin would prevent this from occurring. The reason for $3,000,000,000,000 Zimbabwe's is because they printed, and printed, and printed, etc.

It seems that the speculative nature of it precludes it from replacing any currencies. I would argue it's not replacing anything, but operating in a realm separate from fiat, government controlled currencies. Think of it as complementary, because you can convert dollars to bitcoins quickly. Plus, do you foresee a day when there's a store that will only accept bitcoin? No, it'll accept both. Bitcoin isn't going to completely replace anything, but it's giving people an option besides the single-node of any country's currency.

The volatility around it makes me question its use as a speculative investment (or a hedge) compared to physical assets be it real estate or precious minerals. Until it's determined how many individuals, let alone banks and countries adopt Bitcoin, it's difficult to figure out where the conversion rate will end up. At the end of the day though, scarcity wins.

And the fact that the IRS requires you to treat it as realized gains when sold or even used for purchases makes it even harder to get enthusiastic about. Old people in Congress making laws about things they don't understand. If/when more countries allow it to become accepted as currency, that suddenly removes gains and losses and it's simply 'converting dollars into euros,' but bitcoins instead.

If Bitcoin had a more stable value, I'd be jumping in. If the IRS would take a hands off approach, I'd definitely be interested. I am trying to educate myself and stay current. I see the possibilities but the headwinds are strong enough to hinder my enthusiasm. The IRS is unlikely to take a hands-off approach anytime soon...at least until the conversion rate stabilizes. Right now, people are viewing Bitcoin as a stock price, when in reality, they should be viewing it as dollars-to-bitcoin ratio...just like USD:EUR.

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See my bolded insights. NOTE: I'm not AE, but I love me some Rebel unicorn farts.

TexasRebel said:

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…but yes. Flocking to "money" that doesn't exist outside of a network sounds like a good idea. Keep buying nothing.

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What would you suggest the Russians flock to? Because their money just got turned into nothing. Thank god their government can't screw up Unicorn Farts...and ironically, that's what they're turning to.

Unhinged BTC HypeBeast said:

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The global events happening right now are lockstep with what the bitcoin intelligentsia have prognosticated for quite awhile.

I've posted a few quotes and tweet threads from Admin Errors from our OnChainAgs group that have gotten deleted.

Apparently trollrebel is a mod or goes under the table for a mod.

[Angry face for AdminErrors permaban]

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He was permabanned?

agsalaska said:

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Unhinged BTC HypeBeast said:

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The global events happening right now are lockstep with what the bitcoin intelligentsia have prognosticated for quite awhile.

I've posted a few quotes and tweet threads from Admin Errors from our OnChainAgs group that have gotten deleted.

Apparently trollrebel is a mod or goes under the table for a mod.

[Angry face for AdminErrors permaban]

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He was permabanned?

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Yes. Check out the "Free Unhinged BTC Hype Beast" thread in Business and Investing.

NM.

Unicorn Farts are running today. Let's Goooo

[From AE]

Quote:

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2 accounts starting 10/2004 through 2/23/22 and 16k+ posts:
Wheelskjm permabanned 12/1/17
Administrative Errors permabanned 2/23/22

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[Angry face for solidarity]

This article (and OP) didn't agree well at all. Ha ha.

https://www.google.com/amp/s/www.cnbc.com/amp/2022/02/23/the-case-for-bitcoin-as-digital-gold-is-falling-apart.html

I'll speculate as to several possible reasons:
This is Politics board, not B&I?
TexasRebel isnt posting histrionics and passive aggressively insulting fellow board members?
TR hasnt already been perma'd for the exact same thing?
TR posts on several topics and generally engages in all around discussions across several boards?


Life is contextual and there isnt a one-size fits all approach

tysker said:

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I'll speculate as to several possible reasons:
This is Politics board, not B&I?
TexasRebel isnt posting histrionics and passive aggressively insulting fellow board members?
TR hasnt already been perma'd for the exact same thing?
TR posts on several topics and generally engages in all around discussions across several boards?


Life is contextual and there isnt a one-size fits all approach

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I don't disagree regarding the need for context/nuance. I am also not advocating for TR to receive a ban of any sort. I'm simply pointing out the incongruency (as I and a number of other posters perceive it) in the moderation logic/reasoning.

I also don't see the validity in your point about Business/Politics board as fiscal policy and actual finance etc. are more intertwined than ever in this current sociopolitical environment and I would assume lends towards the multidirectional debate about factors relating to each.
I.E. Bitcoin principles geared toward decentralization is very much an issue of politics as well as B&I.

I know he received previous bans of varying length for previous posts/offenses but to my knowledge he's only ever received one perma ban (somewhat tongue in cheek here).
I'm also not defending his delivery style as I agree that is likely what was ruffling feathers but I find it hard to believe the majority on F16 are so thin skinned they can't simply elect to flag his comments / ignore or not engage him without feeling the need for such upheaval to cause the mods to hand down a perma.

Quote:

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I'm simply pointing out the incongruency (as I and a number of other posters perceive it) in the moderation logic/reasoning.

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what incongruity?

Quote:

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I also don't see the validity in your point about Business/Politics board as fiscal policy and actual finance etc. are more intertwined than ever in this current sociopolitical environment and I would assume lends towards the multidirectional debate about factors relating to each.

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I think being argumentative and dissenting to the edge of trolling is more common and acceptable on F16 than it is on more 'professional' and informational boards like B&I. You've been around long enough to know posts acceptable on F16 don't fly on other boards


are you certain that it was F16 that got him banned? (again) Or is that just speculation spreading rumors?

It occurred to be today that you can use bitcoin as a lottery.

Guess the right numbers and get a prize!

Doesn't even cost $1 to play, but the odds are much steeper.

On one or these dips, I predict you're gonna buy in.

Shall we put a wager of gold on it?

TexasRebel said:

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Shall we put a wager of gold on it?

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Not parting with any of my gold

Bump.

Hey look, my "imaginary beanie baby money" is up again.

OG UNF said:

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Hey look, my "imaginary beanie baby money" is up again.

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The Neanderthal is running scared fellow mutants

OG UNF said:

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Hey look, my "imaginary beanie baby money" is up again.

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Did it pay you a divided this month?

Or do you have to realize the gain to get paid?

Cause my rents have never dipped and your tax dollars pay when the tenants can't

Ponder this:
How many administrations from now could all of your assets be seized, let's say.... for equitable purposes?

Do you have the manpower to protect then from "legalized" seizure?

Familiar with dekulakization? Don't underestimate the fury of the younger generations being unable to afford a home because "all the boomers/etc are investing in anything affordable and renting them out." You already see that mentality flooding the metawaves.


I'd estimate one or two adminis before we have our own dekulakization under "equitable" means. And a Kulak was described as anyone with 2 cows and a donkey, wonder how that translates to 2022 and #of Airbnb rooms for rent.

Bitcoin seems to be the only unassailable asset out there, nothing wrong with diversifying yourself instead of being an antagonistic dork. But continue on with the puffery/autofellatio, it's clearly taken you to a prime spot amongst the rent-seekers, for better or worse.

An understanding of history and potentiality of USA to get color-revolutioned should/would lead cautious/aware folk towards bitcoin.

To clarify, I'm not wishing any harm to anyone, just want people to recognize the potential of harm to themselves and/or their property/families during new regimes of history past.

Tall Poppy Syndrome and the like.




Beware.

itsyourboypookie said:

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OG UNF said:

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Hey look, my "imaginary beanie baby money" is up again.

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Did it pay you a divided this month?

Or do you have to realize the gain to get paid?

Cause my rents have never dipped and your tax dollars pay when the tenants can't

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There are cryptocurrencies that pay dividends (as much as 5%). The one I hold that does paid me this month, same as usual.