Curios. Why do you care? I'm often puzzled by atheists arguing with theists. I see similarities here.
Bitcoin on the path to irrelevance?
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Last: 2 days ago by Yukon Cornelius
Because the backlash is probably going to cost me.
lol what
I'm already paying because idiots can't repay loans as agreed.
I'm sure some of my insurance premiums are going toward deadbeats.
When bitcoin finds its true value (zero) I'm sure someone will find a way to get FEMA involved.
I'm sure some of my insurance premiums are going toward deadbeats.
When bitcoin finds its true value (zero) I'm sure someone will find a way to get FEMA involved.
If we have a major telecom event, BTC being down will pale in comparison to the banks being down.
I don't know why this is thought of as a good argument against Bitcoin. Almost all transactions happen digitally.
I don't know why this is thought of as a good argument against Bitcoin. Almost all transactions happen digitally.
Banks will slow down, but can exist without electricity.
bitcoin… no.
bitcoin… no.
lol what
In this scenario we're instantly back in the stone age anyway. The hierarchy of needs is always water, food, shelter, and safety. That bitcoin isn't the ultimate SHTF asset does not mean it doesn't have value in a modern economy.
How do you square this line of thinking with regular stocks, funds, retirement accounts? It's all digital and subject to the exact same worst-case argument.
How do you square this line of thinking with regular stocks, funds, retirement accounts? It's all digital and subject to the exact same worst-case argument.
Wells Fargo isn't rolling a stagecoach out to your house with greenbacks if the internet goes down
If you're not keeping paper records of your assets I don't know what to tell you.
Of course I do. After the EMP hits that's how I'll wipe my butt.
That describes what, 1% or less of people?TexasRebel said:
If you're not keeping paper records of your assets I don't know what to tell you.
Also if you have 200 shares in Microsoft and bring your ledger up to the trading window they still won't honor it
Maybe not while electronic methods work.
…but if it's the only way to do business…
…but if it's the only way to do business…
Then you are just as screwed. The bank isn't honoring your computer printouts showing you have 5 million digital dollars stored with them in that scenario.
It's pure sentiment. None of these things are worth a lick and will all crash hard, again, like they always do. But if you understand how to map out sentiment, it can be better than gambling. I play them with minimal risk and a ton of reward. They are honestly far easier than stocks when in bull phase.Stonegateag85 said:
I have made a little coin on mainstream meme coins like Doge, Pepe and wif. That's just straight up gambling really.
Missing out on one of the greatest financial opportunities of all time due to the threat of some exceedingly rare nation-ending type event...
I've got an elixir that will cure the measles and clean your gutters. Just $10 a bottle.
Definitely Not A Cop said:
Then you are just as screwed. The bank isn't honoring your computer printouts showing you have 5 million digital dollars stored with them in that scenario.
Not until they verify it, sure.
You can physically keep hold of your digital bitcoin.
That's what I've found at the moment. Admittedly I'm not very knowledgeable about the meme space.
Can you make a transaction without internet access?
I've posted some setups over the past couple of weeks on the crypto trading thread on business board. Pay attention to the areas I highlight as risks, make sure you use a stop, and don't be scared to exit upon target getting hit. It's fun to catch the moonshots, but waiting on them can lead to many losses before you catch one. Best to just have a plan and stick to it.Stonegateag85 said:
That's what I've found at the moment. Admittedly I'm not very knowledgeable about the meme space.
TexasRebel said:Definitely Not A Cop said:
Then you are just as screwed. The bank isn't honoring your computer printouts showing you have 5 million digital dollars stored with them in that scenario.
Not until they verify it, sure.
How would they verify it?
LMCane said:thanks!Stonegateag85 said:
100K has always been a sell signal for some of my stash. I'll hold some to see where it may run but 100k.
it's amazing because recency bias is such that when I bought at $18k and $19K and 27k and $31K I said if it ever hits the ATH $74K I should sell
now it's at 84,000!!!
i think the larger question is if I do sell, what do I invest it in that would be more secure? not equities
I like having BTC to diversity the portfolio, along with gold, corporate paper, oil, bonds, SPY, ONEQ, tech...
Physical gold or land/investment property/rentals…own a physical tangible asset…
TexasRebel said:Definitely Not A Cop said:
Then you are just as screwed. The bank isn't honoring your computer printouts showing you have 5 million digital dollars stored with them in that scenario.
Not until they verify it, sure.
The central bank and the government will have lost any of your evidence or claim towards owning any of that, digital or paper, let alone be able to verify it after the fact, with any type of accuracy, in any type of timeframe that is less than years. Same with big banks, regional banks, and mom and pop credit unions that rely on them. Oops!
I'd wager they wouldn't even try to verify on your behalf, good citizen.
Your arguments against Bitcoin get softer and softer. Bitcoin continues to gets harder and harder.
https://tips.fbi.gov/
1-800-225-5324
1-800-225-5324
TexasRebel said:
Because the backlash is probably going to cost me.
You don't have a hedge against that probably risk?
https://tips.fbi.gov/
1-800-225-5324
1-800-225-5324
TexasRebel said:
Banks will slow down, but can exist without electricity.
bitcoin… no.
Not in this day and age
It may take weeks, but it's verifiable.
Now do bitcoin.
Now do bitcoin.
Retired FBI Agent said:TexasRebel said:
Because the backlash is probably going to cost me.
You don't have a hedge against that probably risk?
How does hedging negate the fact that I'll be out when the HODLers whine about getting scammed for a bailout?
TexasRebel said:
It may take weeks, but it's verifiable.
Now do bitcoin.
How is it verifiable, let alone more verifable than Bitcoin? Please elaborate. We can even remove the major telecom attack from the thought exercise, if it helps you.
https://tips.fbi.gov/
1-800-225-5324
1-800-225-5324
TexasRebel said:Retired FBI Agent said:TexasRebel said:
Because the backlash is probably going to cost me.
You don't have a hedge against that probably risk?
How does hedging negate the fact that I'll be out when the HODLers whine about getting scammed for a bailout?
It doesn't. But you seem smart, convinced, and well-prepared.
https://tips.fbi.gov/
1-800-225-5324
1-800-225-5324
Retired FBI Agent said:TexasRebel said:
It may take weeks, but it's verifiable.
Now do bitcoin.
How is it verifiable, let alone more verifable than Bitcoin? Please elaborate. We can even remove the major telecom attack from the thought exercise, if it helps you.
A stockholder can physically travel to the bank with certificate in hand and the bank can verify that the stock is indeed outstanding. Chain of custody can be followed, and the authenticity of the certificate can be established. No electronic telecom necessary.
bitcoin can… um… well… be fondly(?) remembered?
TexasRebel said:Retired FBI Agent said:TexasRebel said:
It may take weeks, but it's verifiable.
Now do bitcoin.
How is it verifiable, let alone more verifable than Bitcoin? Please elaborate. We can even remove the major telecom attack from the thought exercise, if it helps you.
A stockholder can physically travel to the bank with certificate in hand and the bank can verify that the stock is indeed outstanding. Chain of custody can be followed, and the authenticity of the certificate can be established. No electronic telecom necessary.
bitcoin can… um… well… be fondly(?) remembered?
Do you have physical stock certificates? Wanna bet all the records that might verify that certificate are digital?
Without telecom and/or electricity, the bank isn't even opening. They can't do their own payroll or internal communications, much less access accounts or to any other kind of work. You can take your dick certificate to a back or wherever you like, but there's not going to be anyone there to tell you that's it's worth the paper it's printed on.
They'll complain a lot, but they can.
TexasRebel said:
They'll complain a lot, but they can.
You really think a bank is going to have tellers and bankers come into a branch when they can't actually do any work? There'll be no complaining because there'll be no employees.
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