Sid Farkas said:

---

beanie babies, (tulip) bulbs and bitcoin.

Have fun, but don't get left holding the bag.

---

You will own bitcoin. And it will be at the price you deserve.

Monywolf said:

---

Sid Farkas said:

---

beanie babies, (tulip) bulbs and bitcoin.

Have fun, but don't get left holding the bag.

---

You will own bitcoin. And it will be at the price you deserve.

---

Monywolf said:

---

nai06 said:

---

If it's a currency, surely I can use it to buy groceries from my local supermarket right? I can use it anywhere I use cash right?


No matter how much you want it to be a valid currency, it's not. It lacks stability and acceptability which are pretty important when it comes to deciding if something is a currency.

---

I don't give a sh&t if it's a currency or not. I'm not going to spend it.

---

Then why do you have it?

p-townag said:

---

"Before you see it, it seems absurd. Once you see it, it's so obvious."

Ever have that feeling?

---

Every day!

I'm also reminded, while reading this thread, of the old saying: You can lead a horse to water but you can't make it drink.

https://dailycoin.com/bitcoin-buyer-which-government-is-secretly-stacking-sats/

Prediction: A national government will be revealed this year to have been buying Bitcoin—the modern replacement for monetary gold—without having disclosed that fact publicly.

— Edward Snowden (@Snowden) February 28, 2024

Edward Snowden is obviously a moron and doesn't know anything about computers, cryptography, networks, or the value of a permissionless monetary system of absolute scarcity. Doesn't he know that Bitcoin is just tulips and beanie babies?

Since he's living in Russia, for him to make that statement implies that Russia (a country which could substantially benefit from Bitcoin) is the country that is secretly buying Bitcoin, and of course, him saying that plants the bug in investors' ears to buy Bitcoin now....thus further driving up its price and benefiting Russia. Think Snowden is on Putin's payroll?

Probably, but he's banking on the hype dwelling.

drcrinum said:

---

Since he's living in Russia, for him to make that statement implies that Russia (a country which could substantially benefit from Bitcoin) is the country that is secretly buying Bitcoin, and of course, him saying that plants the bug in investors' ears to buy Bitcoin now....thus further driving up its price and benefiting Russia. Think Snowden is on Putin's payroll?

---

Bitcoin is ambivalent to the politics of the person or entity buying it. We, the US, Zimbabwe, the rich, the poor, migrants, cities, corporations…everyone has the opportunity to buy or mine Bitcoin. And those that do will profit.

p-townag said:

---

drcrinum said:

---

Since he's living in Russia, for him to make that statement implies that Russia (a country which could substantially benefit from Bitcoin) is the country that is secretly buying Bitcoin, and of course, him saying that plants the bug in investors' ears to buy Bitcoin now....thus further driving up its price and benefiting Russia. Think Snowden is on Putin's payroll?

---

Bitcoin is ambivalent to the politics of the person or entity buying it. We, the US, Zimbabwe, the rich, the poor, migrants, cities, corporations…everyone has the opportunity to buy or mine Bitcoin. And those that do will profit.

---

Nigeria too!

https://trends.google.com/trends/explore?date=2015-01-01%202024-03-02&q=%2Fm%2F05p0rrx&hl=en

Looks like search interest in Bitcoin isn't where it used to be.

Nigeria has by far the most interest in Bitcoin. That seems to support the critics assertion that Bitcoins only utility is for unsanctioned activities. Not sure what price floor the criminal demand from ransomeware attacks and scams puts on Bitcoin, but that's its fundamentals.

in other words, we're up 55% YTD and approaching all time high, and interest in bitcoin is still less than half of the previous all time high. i wonder what's going to happen to the price when retail finally wakes up to what's going on.

I think BTC is here to stay, and because there is a finite supply (21 million coins) will ultimately end up well north of $1M per coin, perhaps even in my lifetime - but certainly in my children's lifetime.

bmks270 said:

---

p-townag said:

---

drcrinum said:

---

Since he's living in Russia, for him to make that statement implies that Russia (a country which could substantially benefit from Bitcoin) is the country that is secretly buying Bitcoin, and of course, him saying that plants the bug in investors' ears to buy Bitcoin now....thus further driving up its price and benefiting Russia. Think Snowden is on Putin's payroll?

---

Bitcoin is ambivalent to the politics of the person or entity buying it. We, the US, Zimbabwe, the rich, the poor, migrants, cities, corporations…everyone has the opportunity to buy or mine Bitcoin. And those that do will profit.

---

Nigeria too!

https://trends.google.com/trends/explore?date=2015-01-01%202024-03-02&q=%2Fm%2F05p0rrx&hl=en

Looks like search interest in Bitcoin isn't where it used to be.

Nigeria has by far the most interest in Bitcoin. That seems to support the critics assertion that Bitcoins only utility is for unsanctioned activities. Not sure what price floor the criminal demand from ransomeware attacks and scams puts on Bitcoin, but that's its fundamentals.

---

Yeah you better stay away from it. Looks way too scary and only for criminals! [Meanwhile Fidelity says thank you very much and buys as many coins as possible]

CSTXAg92 said:

---

I think BTC is here to stay, and because there is a finite supply (21 million coins) will ultimately end up well north of $1M per coin, perhaps even in my lifetime - but certainly in my children's lifetime.

---

15 Trillion dollar market cap on circulating supply. Maybe. That would put it on par with gold. But what will drive that? Purely inflation from today and loss of USD value?

Don't forget the potential market disruptors:

- Quantum computing.
Might disrupt the price a bit when lost wallets that don't get an encryption update are cracked. Estimated 6 Million Bitcoin are permanently lost (almost 30% of supply!!!).

- Tether collapse.
They've been verified to issue unbacked tether to exchange for Bitcoin. History of shady practices and leadership.

- Run out of new adopters.
Market just crawls sideways forever and speculators and traders keep it volatile while never really hitting new highs.

- Coinbase hack.
Would collapse crypto markets completely.

- Concentration of mining.
Mining costs lead most to halt operation resulting in as single pool gaining majority hash power. Bitcoin would no longer be decentralized. (Although I'd expect competing governments to fund secret mining at any cost to prevent this).

Bitcoin is not a risk free asset so even if you love Bitcoin, I wouldn't put more than a single digit percent of your assets into it.

p-townag said:

---

bmks270 said:

---

p-townag said:

---

drcrinum said:

---

Since he's living in Russia, for him to make that statement implies that Russia (a country which could substantially benefit from Bitcoin) is the country that is secretly buying Bitcoin, and of course, him saying that plants the bug in investors' ears to buy Bitcoin now....thus further driving up its price and benefiting Russia. Think Snowden is on Putin's payroll?

---

Bitcoin is ambivalent to the politics of the person or entity buying it. We, the US, Zimbabwe, the rich, the poor, migrants, cities, corporations…everyone has the opportunity to buy or mine Bitcoin. And those that do will profit.

---

Nigeria too!

https://trends.google.com/trends/explore?date=2015-01-01%202024-03-02&q=%2Fm%2F05p0rrx&hl=en

Looks like search interest in Bitcoin isn't where it used to be.

Nigeria has by far the most interest in Bitcoin. That seems to support the critics assertion that Bitcoins only utility is for unsanctioned activities. Not sure what price floor the criminal demand from ransomeware attacks and scams puts on Bitcoin, but that's its fundamentals.

---

Yeah you better stay away from it. Looks way too scary and only for criminals! [Meanwhile Fidelity says thank you very much and buys as many coins as possible]

---

They make a percentage of assets under management. Not bitcoin appreciation.

The two greatest fail threads on F16-

2021
Bitcoin going to irrelevance
Inflation is finished

Nothing is risk free. With the dollar I know for sure I'm going to lose 80-90% of its value over my lifetime. The dollar is definitively going to zero.

Meanwhile, at noon today, Bitcoin has crossed 67k, up >6% for the day, approaching its all-time high of 69k.

Ok. Still buying at break neck pace. And feel free to read all of Fidelity's analysis on Bitcoin and its use cases/utility. Or maybe that's just "marketing."

bmks270 said:

---

CSTXAg92 said:

---

I think BTC is here to stay, and because there is a finite supply (21 million coins) will ultimately end up well north of $1M per coin, perhaps even in my lifetime - but certainly in my children's lifetime.

---

15 Trillion dollar market cap on circulating supply. Maybe. That would put it on par with gold. But what will drive that? Purely inflation from today and loss of USD value?

Don't forget the potential market disruptors:

- Quantum computing.
Might disrupt the price a bit when lost wallets that don't get an encryption update are cracked. Estimated 6 Million Bitcoin are permanently lost (almost 30% of supply!!!).

- Tether collapse.
They've been verified to issue unbacked tether to exchange for Bitcoin. History of shady practices and leadership.

- Run out of new adopters.
Market just crawls sideways forever and speculators and traders keep it volatile while never really hitting new highs.

- Coinbase hack.
Would collapse crypto markets completely.

- Concentration of mining.
Mining costs lead most to halt operation resulting in as single pool gaining majority hash power. Bitcoin would no longer be decentralized. (Although I'd expect competing governments to fund secret mining at any cost to prevent this).

Bitcoin is not a risk free asset so even if you love Bitcoin, I wouldn't put more than a single digit percent of your assets into it.

---

All excellent points. That said, I still think anyone who buys and holds BTC will look like a genius to their heirs.

bmks270 said:

---

p-townag said:

---

bmks270 said:

---

p-townag said:

---

drcrinum said:

---

Since he's living in Russia, for him to make that statement implies that Russia (a country which could substantially benefit from Bitcoin) is the country that is secretly buying Bitcoin, and of course, him saying that plants the bug in investors' ears to buy Bitcoin now....thus further driving up its price and benefiting Russia. Think Snowden is on Putin's payroll?

---

Bitcoin is ambivalent to the politics of the person or entity buying it. We, the US, Zimbabwe, the rich, the poor, migrants, cities, corporations…everyone has the opportunity to buy or mine Bitcoin. And those that do will profit.

---

Nigeria too!

https://trends.google.com/trends/explore?date=2015-01-01%202024-03-02&q=%2Fm%2F05p0rrx&hl=en

Looks like search interest in Bitcoin isn't where it used to be.

Nigeria has by far the most interest in Bitcoin. That seems to support the critics assertion that Bitcoins only utility is for unsanctioned activities. Not sure what price floor the criminal demand from ransomeware attacks and scams puts on Bitcoin, but that's its fundamentals.

---

Yeah you better stay away from it. Looks way too scary and only for criminals! [Meanwhile Fidelity says thank you very much and buys as many coins as possible]

---

They make a percentage of assets under management. Not bitcoin appreciation.

---

their AUM increases as bitcoin appreciates.

This is Margot Robbie. She likes Bitcoin. What are you waiting for?

Margot Robbie’s scenes were insane in Wolf of Wall Street (don’t check hidden) 👀pic.twitter.com/thASoveFRI

— SWB 💫 (@ykkswb) March 3, 2024

Quote:

---

Margot Robbie Says Bitcoin Has "Ken Energy" as Quip Appears Canonical to Barbie Film

Ken's job in the Barbie movie might literally be Bitcoin.

Influencers across the crypto sphere went wild for Robbie's remarks last week. During a recent interview, the Australian actress (Wolf of Wall Street, Suicide Squad) said Bitcoin talk is "Big Ken Energy."

Ken, of course, is Barbie's boyfriend. The Ken doll first debuted in 1961, and Ken accompanies Barbie on her adventures in this year's high-grossing comedic fantasy movie.

He's had many jobs over the years, but some context from the 2023 Barbie film may shed light on Margot Robbie mentioning cryptocurrency in connection with Ken.


Margot Robbie: Bitcoin = 'Big Ken Energy'
Robbie said when she would overhear her husband Tom Ackerley and producer David Heyman talking about Bitcoin, it reminded her of Ken's character from the movie:

Quote:

---

"When David and Tom would start talking about like Bitcoin or something like Greta and I would be like, 'They're being such Kens.' They'd talk about golf. We're like, 'Stop being Kens.'"

---

The Barbie actress went as far as to associate Bitcoin with the acme of masculinity and attractiveness, mentioning that:

Quote:

---

"There can also be Big Ken Energy and that's a good thing."

---

That energy may refer to the type of confidence men have who are holding a pretty bag of Bitcoin or some other quality, hash-secured, store-of-value cryptocurrency. Margot Robbie may have just given the Chad meme a name update where crypto influencers gather.

But there might be more to the story than this recent interview. She may have been dropping another hint that Bitcoin is actually Ken's job in the Barbie movie.

https://cryptopotato.com/margot-robbie-says-bitcoin-has-ken-energy-as-quip-appears-canonical-to-barbie-film/

---

Shades of Enron?

CSTXAg92 said:

---

bmks270 said:

---

CSTXAg92 said:

---

I think BTC is here to stay, and because there is a finite supply (21 million coins) will ultimately end up well north of $1M per coin, perhaps even in my lifetime - but certainly in my children's lifetime.

---

15 Trillion dollar market cap on circulating supply. Maybe. That would put it on par with gold. But what will drive that? Purely inflation from today and loss of USD value?

Don't forget the potential market disruptors:

- Quantum computing.
Might disrupt the price a bit when lost wallets that don't get an encryption update are cracked. Estimated 6 Million Bitcoin are permanently lost (almost 30% of supply!!!).

- Tether collapse.
They've been verified to issue unbacked tether to exchange for Bitcoin. History of shady practices and leadership.

- Run out of new adopters.
Market just crawls sideways forever and speculators and traders keep it volatile while never really hitting new highs.

- Coinbase hack.
Would collapse crypto markets completely.

- Concentration of mining.
Mining costs lead most to halt operation resulting in as single pool gaining majority hash power. Bitcoin would no longer be decentralized. (Although I'd expect competing governments to fund secret mining at any cost to prevent this).

Bitcoin is not a risk free asset so even if you love Bitcoin, I wouldn't put more than a single digit percent of your assets into it.

---

All excellent points. That said, I still think anyone who buys and holds BTC will look like a genius to their heirs.

---

What if a government like say Russia or Iran announce they are using BTC. Well now good ol federal government USA wants to get involved because now they want to put economic pressure on Russia/Iran but they can't because they have no way of impacting BTC.

Or Russia & Iran realize if one day they decide to cause a massive sell off of BTC (keep in mind no trading rules in place like normal stocks) that would cause significant damage to the stock market with large BTC miners taking massive hits and likely triggering a broad scale sell off.

BTC can be weaponized far more easily then people realize.

Bitcoin = One world currency

TexasRebel said:

---

Shades of Enron?

---

Not even close to the same thing.

You're right.

Enron will be valued higher before too long.

Do you realize that the U.S. Government is one of the largest holders of Bitcoin? (via criminal confiscations)

texagbeliever said:

---

CSTXAg92 said:

---

bmks270 said:

---

CSTXAg92 said:

---

I think BTC is here to stay, and because there is a finite supply (21 million coins) will ultimately end up well north of $1M per coin, perhaps even in my lifetime - but certainly in my children's lifetime.

---

15 Trillion dollar market cap on circulating supply. Maybe. That would put it on par with gold. But what will drive that? Purely inflation from today and loss of USD value?

Don't forget the potential market disruptors:

- Quantum computing.
Might disrupt the price a bit when lost wallets that don't get an encryption update are cracked. Estimated 6 Million Bitcoin are permanently lost (almost 30% of supply!!!).

- Tether collapse.
They've been verified to issue unbacked tether to exchange for Bitcoin. History of shady practices and leadership.

- Run out of new adopters.
Market just crawls sideways forever and speculators and traders keep it volatile while never really hitting new highs.

- Coinbase hack.
Would collapse crypto markets completely.

- Concentration of mining.
Mining costs lead most to halt operation resulting in as single pool gaining majority hash power. Bitcoin would no longer be decentralized. (Although I'd expect competing governments to fund secret mining at any cost to prevent this).

Bitcoin is not a risk free asset so even if you love Bitcoin, I wouldn't put more than a single digit percent of your assets into it.

---

All excellent points. That said, I still think anyone who buys and holds BTC will look like a genius to their heirs.

---

What if a government like say Russia or Iran announce they are using BTC. Well now good ol federal government USA wants to get involved because now they want to put economic pressure on Russia/Iran but they can't because they have no way of impacting BTC.

Or Russia & Iran realize if one day they decide to cause a massive sell off of BTC (keep in mind no trading rules in place like normal stocks) that would cause significant damage to the stock market with large BTC miners taking massive hits and likely triggering a broad scale sell off.

BTC can be weaponized far more easily then people realize.

---

Indeed, BTC could be weaponized. Perhaps it already has been. If you're interested in this facet of the discussion, this is a great read:

https://a.co/d/eKDxljg

texagbeliever said:

---

CSTXAg92 said:

---

bmks270 said:

---

CSTXAg92 said:

---

I think BTC is here to stay, and because there is a finite supply (21 million coins) will ultimately end up well north of $1M per coin, perhaps even in my lifetime - but certainly in my children's lifetime.

---

15 Trillion dollar market cap on circulating supply. Maybe. That would put it on par with gold. But what will drive that? Purely inflation from today and loss of USD value?

Don't forget the potential market disruptors:

- Quantum computing.
Might disrupt the price a bit when lost wallets that don't get an encryption update are cracked. Estimated 6 Million Bitcoin are permanently lost (almost 30% of supply!!!).

- Tether collapse.
They've been verified to issue unbacked tether to exchange for Bitcoin. History of shady practices and leadership.

- Run out of new adopters.
Market just crawls sideways forever and speculators and traders keep it volatile while never really hitting new highs.

- Coinbase hack.
Would collapse crypto markets completely.

- Concentration of mining.
Mining costs lead most to halt operation resulting in as single pool gaining majority hash power. Bitcoin would no longer be decentralized. (Although I'd expect competing governments to fund secret mining at any cost to prevent this).

Bitcoin is not a risk free asset so even if you love Bitcoin, I wouldn't put more than a single digit percent of your assets into it.

---

All excellent points. That said, I still think anyone who buys and holds BTC will look like a genius to their heirs.

---

What if a government like say Russia or Iran announce they are using BTC. Well now good ol federal government USA wants to get involved because now they want to put economic pressure on Russia/Iran but they can't because they have no way of impacting BTC.

Or Russia & Iran realize if one day they decide to cause a massive sell off of BTC (keep in mind no trading rules in place like normal stocks) that would cause significant damage to the stock market with large BTC miners taking massive hits and likely triggering a broad scale sell off.

BTC can be weaponized far more easily then people realize.

---

Price of BTC would rise while they are buying while the price of their native currency would fall as they are (I'm assuming) printing more to obtain it. The price of BTC would fall if they sell, but that new currency has still been printed, so their native currency remains weak.

Maybe I'm missing something. But it seems short sighted.

I do think we find out nations are bypassing existing sanctions using crypto at some point in the future. But the biggest examples like Russia and NK are already doing that with their proxies, so the only people who will really care are the "bitcoin is buttcoin" proselytizers.

Definitely Not A Cop said:

---

texagbeliever said:

---

CSTXAg92 said:

---

bmks270 said:

---

CSTXAg92 said:

---

I think BTC is here to stay, and because there is a finite supply (21 million coins) will ultimately end up well north of $1M per coin, perhaps even in my lifetime - but certainly in my children's lifetime.

---

15 Trillion dollar market cap on circulating supply. Maybe. That would put it on par with gold. But what will drive that? Purely inflation from today and loss of USD value?

Don't forget the potential market disruptors:

- Quantum computing.
Might disrupt the price a bit when lost wallets that don't get an encryption update are cracked. Estimated 6 Million Bitcoin are permanently lost (almost 30% of supply!!!).

- Tether collapse.
They've been verified to issue unbacked tether to exchange for Bitcoin. History of shady practices and leadership.

- Run out of new adopters.
Market just crawls sideways forever and speculators and traders keep it volatile while never really hitting new highs.

- Coinbase hack.
Would collapse crypto markets completely.

- Concentration of mining.
Mining costs lead most to halt operation resulting in as single pool gaining majority hash power. Bitcoin would no longer be decentralized. (Although I'd expect competing governments to fund secret mining at any cost to prevent this).

Bitcoin is not a risk free asset so even if you love Bitcoin, I wouldn't put more than a single digit percent of your assets into it.

---

All excellent points. That said, I still think anyone who buys and holds BTC will look like a genius to their heirs.

---

What if a government like say Russia or Iran announce they are using BTC. Well now good ol federal government USA wants to get involved because now they want to put economic pressure on Russia/Iran but they can't because they have no way of impacting BTC.

Or Russia & Iran realize if one day they decide to cause a massive sell off of BTC (keep in mind no trading rules in place like normal stocks) that would cause significant damage to the stock market with large BTC miners taking massive hits and likely triggering a broad scale sell off.

BTC can be weaponized far more easily then people realize.

---

Price of BTC would rise while they are buying while the price of their native currency would fall as they are (I'm assuming) printing more to obtain it. The price of BTC would fall if they sell, but that new currency has still been printed, so their native currency remains weak.

Maybe I'm missing something. But it seems short sighted.

---

It would potentially hurt Russia more in terms of capital cost. It would however likely psychologically do more harm to democratic/free market economies more. You lower the net income of people in Russia by 25% through inflation nothing happens to those in charge. You lower the net income of Americans by 25%... leadership is going to be changed real fast.

Thanks for the link to more information.

texagbeliever said:

---

Definitely Not A Cop said:

---

texagbeliever said:

---

CSTXAg92 said:

---

bmks270 said:

---

CSTXAg92 said:

---

I think BTC is here to stay, and because there is a finite supply (21 million coins) will ultimately end up well north of $1M per coin, perhaps even in my lifetime - but certainly in my children's lifetime.

---

15 Trillion dollar market cap on circulating supply. Maybe. That would put it on par with gold. But what will drive that? Purely inflation from today and loss of USD value?

Don't forget the potential market disruptors:

- Quantum computing.
Might disrupt the price a bit when lost wallets that don't get an encryption update are cracked. Estimated 6 Million Bitcoin are permanently lost (almost 30% of supply!!!).

- Tether collapse.
They've been verified to issue unbacked tether to exchange for Bitcoin. History of shady practices and leadership.

- Run out of new adopters.
Market just crawls sideways forever and speculators and traders keep it volatile while never really hitting new highs.

- Coinbase hack.
Would collapse crypto markets completely.

- Concentration of mining.
Mining costs lead most to halt operation resulting in as single pool gaining majority hash power. Bitcoin would no longer be decentralized. (Although I'd expect competing governments to fund secret mining at any cost to prevent this).

Bitcoin is not a risk free asset so even if you love Bitcoin, I wouldn't put more than a single digit percent of your assets into it.

---

All excellent points. That said, I still think anyone who buys and holds BTC will look like a genius to their heirs.

---

What if a government like say Russia or Iran announce they are using BTC. Well now good ol federal government USA wants to get involved because now they want to put economic pressure on Russia/Iran but they can't because they have no way of impacting BTC.

Or Russia & Iran realize if one day they decide to cause a massive sell off of BTC (keep in mind no trading rules in place like normal stocks) that would cause significant damage to the stock market with large BTC miners taking massive hits and likely triggering a broad scale sell off.

BTC can be weaponized far more easily then people realize.

---

Price of BTC would rise while they are buying while the price of their native currency would fall as they are (I'm assuming) printing more to obtain it. The price of BTC would fall if they sell, but that new currency has still been printed, so their native currency remains weak.

Maybe I'm missing something. But it seems short sighted.

---

It would potentially hurt Russia more in terms of capital cost. It would however likely psychologically do more harm to democratic/free market economies more. You lower the net income of people in Russia by 25% through inflation nothing happens to those in charge. You lower the net income of Americans by 25%... leadership is going to be changed real fast.

---

You could make the same doomsday scenario with gold, stocks, dollars, anything though, couldn't you? Even with trading limits, you can still cause a panic by the selling off the max amounts you can and waiting until enough time passes to continue doing so.

drcrinum said:

---

Do you realize that the U.S. Government is one of the largest holders of Bitcoin? (via criminal confiscations)

---

I read that. So they could potentially flood the market with sells. Or they could flood the market with buys running up to the november election in 2024. That would pump up the economy and potentially shoot it to new all time highs without obvious money printing.

Then after Democrats win in Nov they pull the rug out. They declare capitalism bad and use that as the catalyst to take down the public trading market. Seize 401ks, etc.
If Republicans win, then democrats flood the market between Nov-Jan and cause a major economic crash hindering any potential progress Trump could make.

Neither of the above sound that unreasonable...