You and obummer agree:
Bitcoin on the path to irrelevance?
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1822 Replies |
Last: 3 days ago by Yukon Cornelius
bmks270 said:
I've studied all of the arguments. Listened to lots of lectures and podcasts, including very articulate Bitcoin pumpers like Micheal Saylor. I just disagree with the value the Bitcoin advocates place on it. I see other technology that is faster and cheaper.
Digital gold is the closest analogy in my opinion but lacking an industrial use case. Maybe simply being digital makes up for that in the minds of many people, but I simply disagree and put more weight in the need for a foundational industrial use than the Bitcoin advocates.
I think that's very fair. I appreciate that response and the fact that you've heard the same arguments but came to a different conclusion. As both of us know, reality doesn't care what I think or what you think. We each have the opportunity to put our chips on the table and see what happens. I'm very very comfortable and confident with my bet, as I'm sure you are.
I think most are just trying to justify their own reasoning for not getting in earlier and are coping by doubling down. Btc is trending in the opposite direction of irrelevancy.
So did Herbalife and Enron.
Keep pounding that drum as the world passes you by.
I think blockchain/bitcoin types of currencies will do very well given the rampant devaluation of a lot of other currencies by central banks. It's tough to really see how that train slows down.
I really do respect people for being skeptical. That being said, I can't imagine looking at what's happening:
Bitcoin is $68,000 and rising
Fidelity and BlackRock are all in
Very smart people are convinced of its utility
And then saying, "It's just like Herbalife."
If we were all pumping some stupid token worth $0.00043 and telling people they should buy it, I'd get it and would probably be in their camp. But at some point, if nothing else, I'd be seeing those factors and be like, "Huh…maybe I'm missing something here."
Bitcoin is $68,000 and rising
Fidelity and BlackRock are all in
Very smart people are convinced of its utility
And then saying, "It's just like Herbalife."
If we were all pumping some stupid token worth $0.00043 and telling people they should buy it, I'd get it and would probably be in their camp. But at some point, if nothing else, I'd be seeing those factors and be like, "Huh…maybe I'm missing something here."
I still don't think Bitcoin is mature enough to be the dominant currency for a long, long time, if ever. I think it's best use is as a store of value. But, this is Bitcoin and the Lightning Network already in use at a Jersey Mike's in California. I was previously told on this thread that the Lightning Network has already failed. Might want to double check on that…
Paying for a 🥪 sandwich with #Bitcoin in ☀️ California 🙌
— Bitcoin News (@BitcoinNewsCom) February 27, 2024
pic.twitter.com/XwBmAnfcEE
Someone is smart. Now they have a sandwich.
Bitcoin briefly touched 70k at 9:30am this morning. Another all-time high.
Happy $69,420 day.
I think Roadrunner said it best.
TexasRebel said:
I think Roadrunner said it best.
All I hear is Wil E Coyote screaming, "that bitcoin rock you're standing on isn't backed by anything!" While his dollar-rocket plummets to the earth.
Bitcoiners, "Meep Meep" (translated to, "How the f*** is that guy still breathing?")
Algorithmic Epiphany said:TexasRebel said:
I think Roadrunner said it best.
All I hear is Wil E Coyote screaming, "that bitcoin rock you're standing on isn't backed by anything!" While his dollar-rocket plummets to the earth.
Bitcoiners, "Meep Meep" (translated to, "How the f*** is that guy still breathing?")
Or maybe ayn rand said it better
Any Rand on #Bitcoin pic.twitter.com/avWPjgY6IZ
— Smeet Bhatt — b/acc⚡ (@smeet_bhatt) March 7, 2024
Algorithmic Epiphany said:Algorithmic Epiphany said:TexasRebel said:
I think Roadrunner said it best.
All I hear is Wil E Coyote screaming, "that bitcoin rock you're standing on isn't backed by anything!" While his dollar-rocket plummets to the earth.
Bitcoiners, "Meep Meep" (translated to, "How the f*** is that guy still breathing?")
Or maybe ayn rand said it betterAny Rand on #Bitcoin pic.twitter.com/avWPjgY6IZ
— Smeet Bhatt — b/acc⚡ (@smeet_bhatt) March 7, 2024
This is the most important quote of this entire thread. So appropriate.
This thread needs to be stickied. It's entertaining to watch/hear all the naysayers continue their plight as price goes higher and higher.
It'd go really well underneath the "moderation thread" I agree.
To celebrate new all time highs(40 days before the halving, a first ever), here come the bulls on parade.
Oof! That's one expensive sammich. I wouldn't exchange 28,300 sats for a Jersey Mike's.TexasRebel said:
Someone is smart. Now they have a sandwich.
People think I'm an idiot or something, because all I do is cut lawns for a living.
Who wants to tell him?TexasRebel said:
I think Roadrunner said it best.
Treble and bmks a summation:
'New Bitcoin all time high huh?
— Rational Aussie (@rationalaussie) March 8, 2024
Might want to take some risk off the table here, classic tulip bubble.
I heard the Central Banks are going to partner with Ripple for their digital currencies. Blockchain is the real innovation.
You can't eat a Bitcoin.
If the electricity… pic.twitter.com/dAJ2wlPPJt
Diet Cokehead said:Who wants to tell him?TexasRebel said:
I think Roadrunner said it best.
Not that you can read this, but I'm already aware that Roadrunner doesn't talk.
Still the point is clear.
…and the bottom is zero.
Are you rudely insinuating that diet cokehead cannot read?
Believe it yet Anon? #Bitcoin https://t.co/t7S6oJfRMC pic.twitter.com/AFFj0zfteb
— Magoo PhD (@HodlMagoo) March 9, 2024
This was bound to happen, eventually
— Alex Gladstein 🌋 ⚡ (@gladstein) March 9, 2024
@TheEconomist is starting to understand how Bitcoin mining is going to revolutionize electricity access in Africa
🔥 https://t.co/g5Tr2iNRd4 pic.twitter.com/DJM1BkMzUo
Gas station next door to my business has a Bitcoin Depot Bitcoin ATM.... saw an older lady putting 50k into it. Asked her if she was getting scammed or where she was going to move the bitcoin and she said Wells Fargo....
I probably should've asked more questions but she wasn't there when I came back.
Hopefully she didn't get scammed
I probably should've asked more questions but she wasn't there when I came back.
Hopefully she didn't get scammed
So just a lady with 500 $100 bills?
That's normal.
That's normal.
The gas station regularly has customers putting 5-20k in the atm...
So relatively normal.
So relatively normal.
Algorithmic Epiphany said:
Treble and bmks a summation:'New Bitcoin all time high huh?
— Rational Aussie (@rationalaussie) March 8, 2024
Might want to take some risk off the table here, classic tulip bubble.
I heard the Central Banks are going to partner with Ripple for their digital currencies. Blockchain is the real innovation.
You can't eat a Bitcoin.
If the electricity… pic.twitter.com/dAJ2wlPPJt
I laughed.
More irrelevant today, right? Right?! RIGHT?!!
No. None is the limit. "More" is impossible.
p-townag said:
More irrelevant today, right? Right?! RIGHT?!!
Despite bitcoin's irrelevance, this seems relevant
— Elon Musk (@elonmusk) March 10, 2024
says the guy after Bitcoin just hits another all time high.bmks270 said:Yukon Cornelius said:
So you think golds entire value proposition is it may be needed one day? 14.5 Trillion in value for that? Lol ok man, I can't do this anymore.
No, I think that's why it was originally adopted and hoarded, and evolved into a currency.
There is a market for collectibles like watches, art, baseball cards, etc. So yeah there can be a market for Bitcoin too. But I don't think it can ever be a durable or stable one.
but 'baseball cards" (!!)
I literally can't believe some of the arguments on this thread.
And it's off to the races...FOMO time. Bitcoin early this morning hits another all-time high, over 72k.
This as well as the banking system's shenanigans I think smart folks are trying to get their assets safe from the US dollar.