MemphisAg1 said:

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Passing along a link to this article that makes the case Bitcoin will remain on a downward trend.

Quote:

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"Bitcoin's conceptual design and technological shortcomings make it questionable as a means of payment: real Bitcoin transactions are cumbersome, slow and expensive," they wrote. "Bitcoin has never been used to any significant extent for legal real-world transactions."

"Bitcoin is also not suitable as an investment. It does not generate cash flow (like real estate) or dividends (like equities), cannot be used productively (like commodities) or provide social benefits (like gold). The market valuation of Bitcoin is therefore based purely on speculation," they added.

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https://www.cnbc.com/2022/11/30/european-central-bank-says-bitcoin-is-on-the-road-to-irrelevance.html

I don't own any because I haven't resolved how to value it, and it's too volatile for my taste. I follow a hard rule of not investing in things I don't understand. That has served me well after some small, but impactful, lessons learned with investing earlier in life.

But I'm fascinated by the ongoing story of technology development, wealth creation and destruction.

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aggiehawg said:

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Who has a patent or trademark on bitcoin?

The government? Who?

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Algorithmic Epiphany said:

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aggiehawg said:

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Who has a patent or trademark on bitcoin?

The government? Who?

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WHO!? Who damnit! Who?

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Algorithmic Epiphany said:

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It's open source software. No patents or licenses.

Edit: outside of Faketoshi.

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TexAgs91 said:

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I've been told by a BTC fanboy that it's going to start going up quickly after ETF approvals in January

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tysker said:

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TexAgs91 said:

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I've been told by a BTC fanboy that it's going to start going up quickly after ETF approvals in January

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Thats like suggesting the price of gold, oil, or the Euro will go up increase due to ETF approvals. I'm curious to know your friend's financial reasoning behind that statement.

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torrid said:

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Satoshi Nakamoto.

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aggiehawg said:

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torrid said:

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Satoshi Nakamoto.

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Who? And what does he have proprietary info on?

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aggiehawg said:

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torrid said:

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Satoshi Nakamoto.

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Who? And what does he have proprietary info on?

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aggiehawg said:

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Algorithmic Epiphany said:

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It's open source software. No patents or licenses.

Edit: outside of Faketoshi.

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Open source? So any 12 year old can hack your wallet and make it disappear? That open source?

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Burnsey said:

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tysker said:

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TexAgs91 said:

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I've been told by a BTC fanboy that it's going to start going up quickly after ETF approvals in January

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Thats like suggesting the price of gold, oil, or the Euro will go up increase due to ETF approvals. I'm curious to know your friend's financial reasoning behind that statement.

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That's exactly what happened to the price of gold after gold etfs. Went through the roof.

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MR Gadsden said:

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The players involved in the ETFs, the Blackrocks, Fidelity's, and 12 others will need to purchase and custody it in some way. The demand will skyrocket and of course you can't make more Bitcoin so the price will go up.

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tysker said:

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MR Gadsden said:

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The players involved in the ETFs, the Blackrocks, Fidelity's, and 12 others will need to purchase and custody it in some way. The demand will skyrocket and of course you can't make more Bitcoin so the price will go up.

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The price of BTC increases with adoption not consolidation into the hands of a couple dozen financial institutions.

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MR Gadsden said:

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tysker said:

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MR Gadsden said:

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The players involved in the ETFs, the Blackrocks, Fidelity's, and 12 others will need to purchase and custody it in some way. The demand will skyrocket and of course you can't make more Bitcoin so the price will go up.

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The price of BTC increases with adoption not consolidation into the hands of a couple dozen financial institutions.

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Why wouldn't both be the case?

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tysker said:

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MR Gadsden said:

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The players involved in the ETFs, the Blackrocks, Fidelity's, and 12 others will need to purchase and custody it in some way. The demand will skyrocket and of course you can't make more Bitcoin so the price will go up.

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The price of BTC increases with adoption not consolidation into the hands of a couple dozen financial institutions.

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tysker said:

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MR Gadsden said:

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tysker said:

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MR Gadsden said:

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The players involved in the ETFs, the Blackrocks, Fidelity's, and 12 others will need to purchase and custody it in some way. The demand will skyrocket and of course you can't make more Bitcoin so the price will go up.

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The price of BTC increases with adoption not consolidation into the hands of a couple dozen financial institutions.

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Why wouldn't both be the case?

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Because there is a limited amount of BTC. If its being held as collateral for ETFs and other financial products by banks and brokers, there will be less demand by individual holders. How do expect adoption to increase as more BTC consolidate in the hands of institutions and governments?

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tysker said:

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Buying and mining

If you support staking they can do that too. But we all know staking and mine farming is a scam. You don't think they'll create derivatives do you? Because as Ive stated many times here derivatives of BTC are antithetical to the BTC project (which these ETFs are essentially).

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MR Gadsden said:

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tysker said:

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MR Gadsden said:

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tysker said:

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MR Gadsden said:

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The players involved in the ETFs, the Blackrocks, Fidelity's, and 12 others will need to purchase and custody it in some way. The demand will skyrocket and of course you can't make more Bitcoin so the price will go up.

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The price of BTC increases with adoption not consolidation into the hands of a couple dozen financial institutions.

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Why wouldn't both be the case?

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Because there is a limited amount of BTC. If its being held as collateral for ETFs and other financial products by banks and brokers, there will be less demand by individual holders. How do expect adoption to increase as more BTC consolidate in the hands of institutions and governments?

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You know that you can use fractions of a Bitcoin, right? We will price good and services in sats. Adoption can still take place when 1 BTC = $1 million

What's going to happen when more nation states adopt BTC as currency. Less available supply.

When central banks start to hold BTC. Less supply available.

All will drive the price up.

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tysker said:

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MR Gadsden said:

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tysker said:

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MR Gadsden said:

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tysker said:

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MR Gadsden said:

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The players involved in the ETFs, the Blackrocks, Fidelity's, and 12 others will need to purchase and custody it in some way. The demand will skyrocket and of course you can't make more Bitcoin so the price will go up.

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The price of BTC increases with adoption not consolidation into the hands of a couple dozen financial institutions.

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Why wouldn't both be the case?

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Because there is a limited amount of BTC. If its being held as collateral for ETFs and other financial products by banks and brokers, there will be less demand by individual holders. How do expect adoption to increase as more BTC consolidate in the hands of institutions and governments?

---

You know that you can use fractions of a Bitcoin, right? We will price good and services in sats. Adoption can still take place when 1 BTC = $1 million

What's going to happen when more nation states adopt BTC as currency. Less available supply.

When central banks start to hold BTC. Less supply available.

All will drive the price up.

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If it's infinitely divisible then how is it any different than the current USD.

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MR Gadsden said:

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tysker said:

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MR Gadsden said:

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tysker said:

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MR Gadsden said:

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tysker said:

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MR Gadsden said:

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The players involved in the ETFs, the Blackrocks, Fidelity's, and 12 others will need to purchase and custody it in some way. The demand will skyrocket and of course you can't make more Bitcoin so the price will go up.

---

The price of BTC increases with adoption not consolidation into the hands of a couple dozen financial institutions.

---

Why wouldn't both be the case?

---

Because there is a limited amount of BTC. If its being held as collateral for ETFs and other financial products by banks and brokers, there will be less demand by individual holders. How do expect adoption to increase as more BTC consolidate in the hands of institutions and governments?

---

You know that you can use fractions of a Bitcoin, right? We will price good and services in sats. Adoption can still take place when 1 BTC = $1 million

What's going to happen when more nation states adopt BTC as currency. Less available supply.

When central banks start to hold BTC. Less supply available.

All will drive the price up.

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If it's infinitely divisible then how is it any different than the current USD.

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You are dense. So much so that it has to be an act.

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fka ftc said:

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MR Gadsden said:

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tysker said:

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MR Gadsden said:

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tysker said:

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MR Gadsden said:

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tysker said:

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MR Gadsden said:

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The players involved in the ETFs, the Blackrocks, Fidelity's, and 12 others will need to purchase and custody it in some way. The demand will skyrocket and of course you can't make more Bitcoin so the price will go up.

---

The price of BTC increases with adoption not consolidation into the hands of a couple dozen financial institutions.

---

Why wouldn't both be the case?

---

Because there is a limited amount of BTC. If its being held as collateral for ETFs and other financial products by banks and brokers, there will be less demand by individual holders. How do expect adoption to increase as more BTC consolidate in the hands of institutions and governments?

---

You know that you can use fractions of a Bitcoin, right? We will price good and services in sats. Adoption can still take place when 1 BTC = $1 million

What's going to happen when more nation states adopt BTC as currency. Less available supply.

When central banks start to hold BTC. Less supply available.

All will drive the price up.

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If it's infinitely divisible then how is it any different than the current USD.

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You are dense. So much so that it has to be an act.

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Typical response to BTC critics... you have something bad to say about bitcoin...? Well, you just don't understand how it works you dense old boomer!

Widespread bitcoin use will behave no differently than the US dollar, particularly in how the US dollar currently operates (no gold standard, somewhat infinite printing".

BTC being scarce and thus "valuable" is a farce. It does have some aspects that help with monetary inflation but it has no impact on pricing inflation. It can be infinitely divided no matter what someone tries to tell you about "satoshis" or koopa troopers or similar.

It has a purpose, but much of that purpose is to conduct illegal transactions to be hidden from the government with an open source, theoretically untraceable / anonymous ledger.

I still predict it will go the way of bearer bonds and the dodo bird.

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MR Gadsden said:

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tysker said:

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MR Gadsden said:

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tysker said:

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MR Gadsden said:

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tysker said:

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MR Gadsden said:

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The players involved in the ETFs, the Blackrocks, Fidelity's, and 12 others will need to purchase and custody it in some way. The demand will skyrocket and of course you can't make more Bitcoin so the price will go up.

---

The price of BTC increases with adoption not consolidation into the hands of a couple dozen financial institutions.

---

Why wouldn't both be the case?

---

Because there is a limited amount of BTC. If its being held as collateral for ETFs and other financial products by banks and brokers, there will be less demand by individual holders. How do expect adoption to increase as more BTC consolidate in the hands of institutions and governments?

---

You know that you can use fractions of a Bitcoin, right? We will price good and services in sats. Adoption can still take place when 1 BTC = $1 million

What's going to happen when more nation states adopt BTC as currency. Less available supply.

When central banks start to hold BTC. Less supply available.

All will drive the price up.

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If it's infinitely divisible then how is it any different than the current USD.

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You are dense. So much so that it has to be an act.

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fka ftc said:

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MR Gadsden said:

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tysker said:

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MR Gadsden said:

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tysker said:

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MR Gadsden said:

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tysker said:

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MR Gadsden said:

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The players involved in the ETFs, the Blackrocks, Fidelity's, and 12 others will need to purchase and custody it in some way. The demand will skyrocket and of course you can't make more Bitcoin so the price will go up.

---

The price of BTC increases with adoption not consolidation into the hands of a couple dozen financial institutions.

---

Why wouldn't both be the case?

---

Because there is a limited amount of BTC. If its being held as collateral for ETFs and other financial products by banks and brokers, there will be less demand by individual holders. How do expect adoption to increase as more BTC consolidate in the hands of institutions and governments?

---

You know that you can use fractions of a Bitcoin, right? We will price good and services in sats. Adoption can still take place when 1 BTC = $1 million

What's going to happen when more nation states adopt BTC as currency. Less available supply.

When central banks start to hold BTC. Less supply available.

All will drive the price up.

---

If it's infinitely divisible then how is it any different than the current USD.

---

You are dense. So much so that it has to be an act.

---

Typical response to BTC critics... you have something bad to say about bitcoin...? Well, you just don't understand how it works you dense old boomer!

Widespread bitcoin use will behave no differently than the US dollar, particularly in how the US dollar currently operates (no gold standard, somewhat infinite printing".

BTC being scarce and thus "valuable" is a farce. It does have some aspects that help with monetary inflation but it has no impact on pricing inflation. It can be infinitely divided no matter what someone tries to tell you about "satoshis" or koopa troopers or similar.

It has a purpose, but much of that purpose is to conduct illegal transactions to be hidden from the government with an open source, theoretically untraceable / anonymous ledger.

I still predict it will go the way of bearer bonds and the dodo bird.

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Quote:

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Bitcoin *can* only be infinitely divisible, and only via consensus of miners, users, and nodes. Additional layers might have different rules for different purposes.

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MR Gadsden said:

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fka ftc said:

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MR Gadsden said:

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tysker said:

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MR Gadsden said:

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tysker said:

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MR Gadsden said:

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tysker said:

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MR Gadsden said:

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The players involved in the ETFs, the Blackrocks, Fidelity's, and 12 others will need to purchase and custody it in some way. The demand will skyrocket and of course you can't make more Bitcoin so the price will go up.

---

The price of BTC increases with adoption not consolidation into the hands of a couple dozen financial institutions.

---

Why wouldn't both be the case?

---

Because there is a limited amount of BTC. If its being held as collateral for ETFs and other financial products by banks and brokers, there will be less demand by individual holders. How do expect adoption to increase as more BTC consolidate in the hands of institutions and governments?

---

You know that you can use fractions of a Bitcoin, right? We will price good and services in sats. Adoption can still take place when 1 BTC = $1 million

What's going to happen when more nation states adopt BTC as currency. Less available supply.

When central banks start to hold BTC. Less supply available.

All will drive the price up.

---

If it's infinitely divisible then how is it any different than the current USD.

---

You are dense. So much so that it has to be an act.

---

Typical response to BTC critics... you have something bad to say about bitcoin...? Well, you just don't understand how it works you dense old boomer!

Widespread bitcoin use will behave no differently than the US dollar, particularly in how the US dollar currently operates (no gold standard, somewhat infinite printing".

BTC being scarce and thus "valuable" is a farce. It does have some aspects that help with monetary inflation but it has no impact on pricing inflation. It can be infinitely divided no matter what someone tries to tell you about "satoshis" or koopa troopers or similar.

It has a purpose, but much of that purpose is to conduct illegal transactions to be hidden from the government with an open source, theoretically untraceable / anonymous ledger.

I still predict it will go the way of bearer bonds and the dodo bird.

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Did you read his replies? It's the same crap over and over. He's dense.

I don't care if your for Bitcoin or against it the fact the both retail and institutions are now buying it will make the price climb. He doesn't seem to get it, or acts like he doesn't.

I can't tell by your response that you have believed the mainstream narrative about Bitcoin (you're parroting Elizabeth Warren).

I don't care if either of you ever own a single sat. Doesn't matter to me.

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