Bitcoin on the path to irrelevance?

112,016 Views | 1822 Replies | Last: 3 days ago by Yukon Cornelius
MRB10
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In reply to TexasRebel • 12:18p, 4/1/24
AG
You allegedly stand to gain $1-1.3 million for 5 minutes spent copying the block info and hitting a few buttons on a hardware wallet and it's not worth the time?
“There is no red.
There is no blue.
There is the state.
And there is you.”

“As government expands, Liberty contracts” - R. Reagan
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TexasRebel
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In reply to MRB10 • 12:24p, 4/1/24
AG
Not if the cash doesn't exist.
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TexasRebel
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12:37p, 4/1/24
AG
I mean, the April Fools joke was that I'd spend any time setting up a miner with a custom random nonce algorithm.

…but if someone is willing to give me 1.25MM in cash, I'll go buy them 6.25 bitcoin. Cash first, obviously.
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City Dumme
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2:31p, 4/1/24
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Algorithmic Epiphany
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11:09p, 4/1/24



"You wanna terrify the elites, more than anything else, is when the people who do all the hard work (verifiable, measurable) demand getting paid in something other than fake money."
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TexasRebel
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In reply to Algorithmic Epiphany • 11:20p, 4/1/24
AG
Food?
Oil?
Land?
Time?

Which one are they wanting to get paid with?
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Algorithmic Epiphany
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In reply to TexasRebel • 7:35a, 4/2/24
Sure! Just don't be Fooled into the fake money the useless class can print from nothing.
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TexasRebel
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In reply to Algorithmic Epiphany • 9:45a, 4/2/24
AG
You finally gave up bitcoin?
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Algorithmic Epiphany
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In reply to TexasRebel • 9:52a, 4/2/24
Negative. There's only one answer that cannot be seized without permission (assuming self custody).
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TexasRebel
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In reply to Algorithmic Epiphany • 10:39a, 4/2/24
AG
Which is?

(Hint: internet access cannot be required)
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TexasRebel
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11:14a, 4/2/24
AG
Also, what do you think the glide ratio of bitcoin is?
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Algorithmic Epiphany
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12:06p, 4/2/24
Your contributions thus far have not only failed to add value but have detracted from the discourse. I suggest you take time to reconsider the merit of your arguments and their impact on this dialogue.

The demand to hit ignore on your account has tripled my perceived value of stars. Is that what staff keeps you around for?
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Madagascar
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12:29p, 4/2/24
AG
AE, do you know who silk road is and why our government is selling to them?

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Heineken-Ashi
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12:33p, 4/2/24
$59k and I'm a big buyer for the next huge move up.
"H-A: In return for the flattery, can you reduce the size of your signature? It's the only part of your posts that don't add value. In its' place, just put "I'm an investing savant, and make no apologies for it", as oldarmy1 would do."
- I Bleed Maroon (distracted easily by signatures)
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TexasRebel
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In reply to Madagascar • 12:37p, 4/2/24
AG
Not to them. To coinbase.

It's the Ross Ulbrecht confiscation.
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Definitely Not A Cop
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In reply to Madagascar • 12:42p, 4/2/24
AG
Madagascar said:
AE, do you know who silk road is and why our government is selling to them?



Pretty cool story. Stealing bitcoin is very hard to get away with forever.

https://www.chainalysis.com/blog/james-zhong-silk-road-hack-seizure/
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TexasRebel
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In reply to Algorithmic Epiphany • 12:43p, 4/2/24
AG
Algorithmic Epiphany said:
Your contributions thus far have not only failed to add value but have detracted from the discourse. I suggest you take time to reconsider the merit of your arguments and their impact on this dialogue.


You have demonstrated a complete ignorance of what is valuable.

However, I can definitively say your pitches for cryptocurrencies have quintupled their value. Nontupled even. Heck, just pick a factor, it's still zero.
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Madagascar
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In reply to Definitely Not A Cop • 12:51p, 4/2/24
AG
So the government just sold stolen goods then? I wonder who gets the proceeds from this sale.
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Definitely Not A Cop
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In reply to Madagascar • 1:05p, 4/2/24
AG
Madagascar said:
So the government just sold stolen goods then? I wonder who gets the proceeds from this sale.



It was stolen from Silk Road over 12 years ago, so I doubt the people it was stolen from are jumping over to claim they were the one buying illicit items with BTC.

That's said, I think it's treated like any money, property, or guns seized by law enforcement. It gets split up by the different agencies involved and then they individually decide what to do with their cut.
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YouBet
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1:16p, 4/2/24
AG
Wasn't it just a few months ago that the government was all over Coinbase's ass and now they are sending BTC to them?
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Algorithmic Epiphany
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In reply to YouBet • 1:46p, 4/2/24
I think its all a facade at this point and coinbase is an unofficial state asset. Honeypot of sorts.
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Algorithmic Epiphany
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In reply to Madagascar • 1:47p, 4/2/24
Madagascar said:
So the government just sold stolen goods then? I wonder who gets the proceeds from this sale.


We all do! Kinda like how we all benefit from paying taxes with good efficient government practices and benefits.

Or something like that.
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YouBet
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In reply to Algorithmic Epiphany • 12:36p, 4/3/24
AG
Algorithmic Epiphany said:
I think its all a facade at this point and coinbase is an unofficial state asset. Honeypot of sorts.


Would definitely not rule that out.
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TexasRebel
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3:01p, 4/12/24
AG
Is it time to sell the farm and quadruple mortgage the house to buy and HODL?

It's a cliffhanger…
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TexasRebel
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2:29p, 4/15/24
AG
[url] https://www.coindesk.com/consensus-magazine/2024/04/15/bitcoin-halving-has-crypto-miners-racing-for-epic-sat-potentially-worth-millions/amp/[/url]

If I read this correctly, bitcoin admits it is just another NFT.

Epic Sat? Whaaat?

Is the supply of new investors exhausted? Are the HODLers stuck?
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Signel
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3:35p, 4/15/24
AG
The state, and all the rich folks making 4x on bitcoin since last year are 100% on board. Why would they remove another option that can make them more money?

The SEC legitimized the entire market by allowing the ETFs, and in turn, most people's pensions/retirements direct access to crypto as another asset class.

It isn't going away.
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bmks270
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In reply to TexasRebel • 3:43p, 4/15/24
AG
TexasRebel said:
[url] https://www.coindesk.com/consensus-magazine/2024/04/15/bitcoin-halving-has-crypto-miners-racing-for-epic-sat-potentially-worth-millions/amp/[/url]

If I read this correctly, bitcoin admits it is just another NFT.

Epic Sat? Whaaat?

Is the supply of new investors exhausted? Are the HODLers stuck?


Lol.

It's certainly not fungible. If it were it would be banned and delisted from exchanges like Monero.
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TexasRebel
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In reply to bmks270 • 3:59p, 4/15/24
AG
Except with enough consensus, it is fungible.
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Krombopulos Michael
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4:27p, 4/15/24
I guess we will find out if it's going to be that vaunted "store of value" everyone is talking about when a wider ME conflict starts up.


$8K down on Saturday night when the bombs were flying isn't anything to sneeze at but HODLers have seen MUCH WORSE.


IMO, taking a little BTC profit to hedge with some physical gold isn't a terrible idea.


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Definitely Not A Cop
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9:26a, 4/16/24
AG
HA over on the B&I board sees it going as low as 42k. Somewhere between 42-59. If it gets below $50, that's very tempting to load up.
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Muy
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9:27a, 4/16/24
AG
A solution engineer I worked with told me to buy it 7-8+ years ago when it was $250
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Algorithmic Epiphany
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1:13p, 4/16/24
Bitcoin treasuries are growing even in my small town for local business owners.

Long term thinking required.
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BlueTaze
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1:33p, 4/16/24
The ONLY thing that matters for BTC long term is the US gov development of CBDC and regulatory action against BTC, if/when it threatens the USD global reserve status.

The fact that the Fed is not loading BTC at all, indicates they are confident they can fade it when the time comes.

Until then, it can be traded, but ultimately there will be a distribution from the BTC billionaires to BTC bagholders. Maybe 3, 5, 10 years away....but I guarantee the US gov will not allow BTC to take away their sacred QE and foreign sanction tool.

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Algorithmic Epiphany
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4:13p, 4/16/24
Hah! Wealthy cohort (owns half a small mountain/mesa) who's blown off bitcoin the past 7 years I've been friends with him just called me out of the blue and asked how to get setup.

Wants to store and hold and be able to pay or receive bitcoin for the work he's doing... fascinating times.

Getting him setup with some friends on cold storage and OTC desk.

How funny.
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TexasRebel
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4:26p, 4/16/24
AG
I guess there are new suckers born every day.
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