Bitcoin on the path to irrelevance?

112,137 Views | 1822 Replies | Last: 3 days ago by Yukon Cornelius
Yukon Cornelius
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10:43p, 3/2/24
AG
What is happening this very day, this month, this year is the greatest financial revolution since the invention of gold coins and some of y'all are insisting sea shells are better.

Your grandchildren will want bitcoin.
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TexasRebel
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In reply to Yukon Cornelius • 11:42p, 3/2/24
AG
Gold?

You mean tally sticks.
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p-townag
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12:43a, 3/3/24
AG
Everyone will get Bitcoin at the price they deserve. We're sorry we haven't done a good enough job of explaining it.
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TexasRebel
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In reply to p-townag • 12:49a, 3/3/24
AG
Wasn't that the Herbalife pitch?
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p-townag
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In reply to TexasRebel • 7:43a, 3/3/24
AG
Yep exactly like Herbalife.


I also remember the time Fidelity and BlackRock were buying $400 million worth of Herbalife PER DAY.




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BudFox7
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7:43a, 3/3/24
So much self ownership on this thread
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Yukon Cornelius
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12:45p, 3/3/24
AG
This is reality.

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p-townag
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2:26p, 3/3/24
AG
I get what he's saying, but I don't think that presentation is appropriate or helpful.
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carl spacklers hat
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In reply to p-townag • 2:42p, 3/3/24
p-townag said:
Yep exactly like Herbalife.


I also remember the time Fidelity and BlackRock were buying $400 million worth of Herbalife PER DAY.




And beanie babys and tulip bulbs.
People think I'm an idiot or something, because all I do is cut lawns for a living.
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p-townag
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In reply to carl spacklers hat • 3:19p, 3/3/24
AG
Yep both of those were around for 15 years and underwent consistent cycles of booms and draw downs and ever increasing highs and ever higher lows. And both were $1 trillion market caps and growing. And both were touted as store of value assets by companies that had multi trillion dollar AUMs. And both of those had absolute scarcity that couldn't be manipulated. And both could transmit a billion dollars of wealth between two parties across the globe in 30 minutes, fully settled, without any permission from any corporation or nation state.

Yep, Bitcoin is just tulips and beanie babies. The comparison is perfect.
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TexasRebel
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In reply to p-townag • 3:22p, 3/3/24
AG
Ahem…

The dollar didn't exist for Tulip Mania.

Maybe try another fiat currency and adjust for inflation?
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p-townag
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In reply to carl spacklers hat • 3:22p, 3/3/24
AG
"Before you see it, it seems absurd. Once you see it, it's so obvious."

Ever have that feeling?
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p-townag
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In reply to TexasRebel • 3:23p, 3/3/24
AG
TexasRebel said:
Ahem…

The dollar didn't exist for Tulip Mania.

Maybe try another fiat currency and adjust for inflation?

Is that the best counter argument you have? You might want to study the topic a little more.
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TexasRebel
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In reply to p-townag • 3:58p, 3/3/24
AG
Nope.

Sometimes you just have to give enough, not your best.
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p-townag
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In reply to TexasRebel • 4:00p, 3/3/24
AG
Great. Well the good news is we'll both get to see it play out. See you on the other side. Gonna be a fun year.
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p-townag
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In reply to TexasRebel • 4:04p, 3/3/24
AG
TexasRebel said:
Nope.

Sometimes you just have to give enough, not your best.

If that's enough in your mind, then, well…again, good luck!
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TexasRebel
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In reply to p-townag • 4:14p, 3/3/24
AG
If you are having trouble understanding.

There is no direct connection between a Florin in 1630 and a Dollar in 2024.

Your comparison is meaningless.
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p-townag
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In reply to TexasRebel • 4:15p, 3/3/24
AG
Correct, the comparison is a terrible one between tulips and Bitcoin.
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Logos Stick
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4:21p, 3/3/24
Is Bitcoin dead and irrelevant yet?

The national debt is increasing by $1 trillion every 100 days. That's about 10% per year. At that rate, it'll be $75 trillion in about 7 years.

At these interest rates, we are in a doom loop.

Is that the driving force behind the increase in money flowing in?
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TexasRebel
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In reply to p-townag • 4:28p, 3/3/24
AG
Just don't be the greatest fool.

Tulips were only valuable while someone was willing to pay for them.
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p-townag
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In reply to TexasRebel • 4:37p, 3/3/24
AG
I'll be fine. Thanks for the concern, though. If you're right I'll happily take my medicine. For the last 15 years and counting…I'm not worried that's gonna be the case.

I truly mean good luck. I want everyone to be a part of the solution to inflation. We finally have that solution. I totally understand if you're skeptical, but the truth doesn't care what I think or you think. Reality is going to continue to hit us in the face.
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TexasRebel
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In reply to p-townag • 4:45p, 3/3/24
AG
The reality that people are willing to throw away hours of their lives for nothing in return, then either want more value for the hours they have left or want the things they need to be easier to obtain (less valuable)?

An hour will always be worth an hour.
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p-townag
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In reply to TexasRebel • 4:59p, 3/3/24
AG
Hmmm…ok.

The reality is that the government prints money and makes your money less valuable. People and institutions are increasingly figuring out that Bitcoin fixes that.
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Kozmozag
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5:04p, 3/3/24
I'm going to retire on my bitcoin....lol, if it keeps doing this run.
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Yukon Cornelius
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In reply to p-townag • 5:07p, 3/3/24
AG
Some people refuse to be helped.
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one safe place
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5:10p, 3/3/24
lol, all these people with 1/4th of a bitcoin!
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Yukon Cornelius
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In reply to one safe place • 5:19p, 3/3/24
AG
It more than every millionaire in the world can have of equally distributed.
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Kraft Punk
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6:03p, 3/3/24
Whale games are fun until you're left holding the empty bag
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TexasRebel
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In reply to p-townag • 6:09p, 3/3/24
AG
p-townag said:
Hmmm…ok.

The reality is that the government prints money and makes your money less valuable. People and institutions are increasingly figuring out that Bitcoin fixes that.


Where did I mention money?
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p-townag
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In reply to TexasRebel • 6:20p, 3/3/24
AG
Yeah I have no idea what you were trying to say. I'm sorry, but your arguments aren't convincing, coherent, or logical. You said something about what you thought reality is. I subsequently said what the actual reality is.
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TexasRebel
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In reply to p-townag • 6:45p, 3/3/24
AG
You said that the value of the productive hours of your life, however they be represented, have to translate to food and shelter?

I guess I missed it. You keep talking about worthless junk.
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p-townag
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In reply to TexasRebel • 6:49p, 3/3/24
AG
I never said anything of the sort. Maybe someone else did. Alright man I think we're finally done here. Good luck.
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TexasRebel
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In reply to p-townag • 6:55p, 3/3/24
AG
Just remember.

Wait for the price of beef to go up too long and you get a dead cow.
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p-townag
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In reply to TexasRebel • 6:58p, 3/3/24
AG
Noted.
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Monywolf
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In reply to nai06 • 7:16p, 3/3/24
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.
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