Musta been born a long time ago then!
Bitcoin on the path to irrelevance?
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1822 Replies |
Last: 3 days ago by Yukon Cornelius
It looks like Saylor just asked the same question I asked a while back.
What if one person "bought" all of the bitcoin? Why would anyone have a reason to want it back?
What if one person "bought" all of the bitcoin? Why would anyone have a reason to want it back?
Did we ever come to a conclusion? Is bitcoin a substitute for fiat currency or is it an alternative investment speculation?
It's sound money in the very early stages of adoption.
Aggies1322 said:
Did we ever come to a conclusion? Is bitcoin a substitute for fiat currency or is it an alternative investment speculation?
If you've paid attention, there's been a pretty consistent history of being proven accurate by one side. This thread and many others before it can show the same level of consistency predicting reality and the future.
Looking at just that dataset, If you can't come to the correct conclusion you probably don't need to worry about it in the first place.
We are at a pretty fun time in history where we have to decide between debt collapse or debt monetization. And well... if you believe a clearly corrupt government will not act/react increasingly violent and more erratic along each step of the way... again you probably don't need to know about bitcoin anyways.
Ignorance is bliss. Knowing bitcoin is immensely painful, not recommended, best to keep the glasses off.
Yes we did, and no it's not.
While USD might collapse eventually, Bitcoin isn't a safety net.
Your Opinion is not based nor supported in reality.
Adoption continue to grow, at all levels, for all reasons.
Hard to ignore these facts but some people continue to impress with their ability to avoid the truth.
Adoption continue to grow, at all levels, for all reasons.
Hard to ignore these facts but some people continue to impress with their ability to avoid the truth.
An infinite pyramid with never ending adoption.
Unique numbers that are valuable because… … …reasons.
bmks270 said:
An infinite pyramid with never ending adoption.
That actually sounds awesome.
p-townag said:bmks270 said:
An infinite pyramid with never ending adoption.
That actually sounds awesome.
Wouldn't be the first time bitcoin has been described as Gabriel's Horn:
👀 Reminds me of something I know. #bitpower https://t.co/ne7BIzUX0o
— Jason Lowery (@JasonPLowery) May 1, 2024
3 years ago, we opened a Bitcoin acct with 250 dollars. Lost track of it, recently found the login info, And closed it. Got a check in the mail for 20 dollars. Spent it on a couple of mini Whataburgers. Helluva deal!
I don't believe you. The high in 2021 was around 61k(Sept) and the low was sub-40k. You either broke even, or are up substantially, if you bought $250 worth of BTC in 2021.
I did the same with Bitcoin and ethereum. Just checked, and the account is sitting at $940. In the spring it was $1300. The ethereum has done way better than the bitcoinMRB10 said:
I don't believe you. The high in 2021 was around 61k(Sept) and the low was sub-40k. You either broke even, or are up substantially, if you bought $250 worth of BTC in 2021.
new bitcoin ATH, now approaching +500% since OP. trump has stated he will create a strategic bitcoin reserve for the US. and fire gensler. vance (who now has to be considered the front runner for 2028) owns at least $400k worth of bitcoin based on financial disclosures. y'all paying attention yet?
I won't believe it is sound money until it can handle enormous numbers of routine every-day transactions.p-townag said:
It's sound money in the very early stages of adoption.
Also, there needs to be some mechanism to reverse fraudulent transactions and to get your money if you forget your passwords.
ef857002-e9da-4375-b80a-869a3518bb00@8shield.net
eric76 said:I won't believe it is sound money until it can handle enormous numbers of routine every-day transactions.p-townag said:
It's sound money in the very early stages of adoption.
Also, there needs to be some mechanism to reverse fraudulent transactions and to get your money if you forget your passwords.
Do you use gold for everyday transactions?
Gold hasn't been money for quite a while. Instead, it is a commodity.Not Coach Jimbo said:eric76 said:I won't believe it is sound money until it can handle enormous numbers of routine every-day transactions.p-townag said:
It's sound money in the very early stages of adoption.
Also, there needs to be some mechanism to reverse fraudulent transactions and to get your money if you forget your passwords.
Do you use gold for everyday transactions?
Sure, people can barter using gold. They could also barter using copper or any other commodity.
ef857002-e9da-4375-b80a-869a3518bb00@8shield.net
eric76 said:Gold hasn't been money for quite a while. Instead, it is a commodity.Not Coach Jimbo said:eric76 said:I won't believe it is sound money until it can handle enormous numbers of routine every-day transactions.p-townag said:
It's sound money in the very early stages of adoption.
Also, there needs to be some mechanism to reverse fraudulent transactions and to get your money if you forget your passwords.
Do you use gold for everyday transactions?
Sure, people can barter using gold. They could also barter using copper or any other commodity.
So why does bitcoin have to be cash instead of a commodity?
total value transacted in 2023:
mastercard - $9T
visa - $14.8T
bitcoin - $36.6T
mastercard - $9T
visa - $14.8T
bitcoin - $36.6T
Michael Saylor is absolutely right, bitcoin is raw digital capital. Billions in monetary value can be moved with one phrase, more and more people are learning the value of that feature(see above quote). Even backing the dollar 10-20% with bitcoin would fix our national deficit and budget within a couple decades. We can preserve our own wealth and secure a personal future without screwing over future generations(inflation).ac04 said:
total value transacted in 2023:
mastercard - $9T
visa - $14.8T
bitcoin - $36.6T
I think the lightning network achieves this. Let the first layer be settled by the big movers and exchanges, buy your lunch with lightning(second layer).eric76 said:I won't believe it is sound money until it can handle enormous numbers of routine every-day transactions.p-townag said:
It's sound money in the very early stages of adoption.
Also, there needs to be some mechanism to reverse fraudulent transactions and to get your money if you forget your passwords.
Bitcoin is back. Bigly.
eric76 said:I won't believe it is sound money until it can handle enormous numbers of routine every-day transactions.p-townag said:
It's sound money in the very early stages of adoption.
Also, there needs to be some mechanism to reverse fraudulent transactions and to get your money if you forget your passwords.
Sounds good. Good luck with that! Reality doesn't care about your beliefs. Soon enough reality will be so obvious the lightbulb moment will happen for you, too.
New ATH today. Trump is doing more for BTC than anyone.
What scares me most is Fed MMT and society's dependence on gov in any distress. In a future crisis, the gov could roll out stimulus via CBDC, and just like that, it becomes widely accepted.
The Fed has currently written off BTC as a speculative asset. I would get bearish the instance the Fed speaks out about BTC being a domestic threat to monetary policy/tools. Perhaps we get a narrative about BRICS using it to dismantle the USD as global reserve. Any Fed reaction that goes beyond it being a bubble asset, and I would sell. Bullish until then.
There are no signs whatsoever that the Feds intend to adopt or participate in BTC on any level whatsoever. They seemingly plan to deploy a CBDC to fulfill BTCs transactional functions.
The Fed has currently written off BTC as a speculative asset. I would get bearish the instance the Fed speaks out about BTC being a domestic threat to monetary policy/tools. Perhaps we get a narrative about BRICS using it to dismantle the USD as global reserve. Any Fed reaction that goes beyond it being a bubble asset, and I would sell. Bullish until then.
There are no signs whatsoever that the Feds intend to adopt or participate in BTC on any level whatsoever. They seemingly plan to deploy a CBDC to fulfill BTCs transactional functions.
Damn it's November 2024 and I see the same people spending their time and energy continuing to spew their nonsense hate on BTC. Meanwhile BTC is at $76,000.
It's good to make a determination on what would make you buy or sell BTC. Whether it's a technical price level, or something fundamental.
People who say they will never buy or never sell, no matter what, ironically fall into the same category.
I've bought it through miner equities several times. Purely technical trades. I love the concept of a decentralized deflationary currency, and the libertarian doctrine of BTC. I just think it's alarming that the biggest BTC ambassadors out there absolutely refuse to acknowledge risks of gov intervention or write it off as negligible.
People who say they will never buy or never sell, no matter what, ironically fall into the same category.
I've bought it through miner equities several times. Purely technical trades. I love the concept of a decentralized deflationary currency, and the libertarian doctrine of BTC. I just think it's alarming that the biggest BTC ambassadors out there absolutely refuse to acknowledge risks of gov intervention or write it off as negligible.
Every #Bitcoin Critic pic.twitter.com/Q2zKJ7WRjV
— Thomas | heyapollo.com (@thomas_fahrer) November 7, 2024
For the longterm investors (hodlers), the most important thing to understand about BTC is that it only becomes a currency when major nations sponsor or accept it as such. Basically you need the US, EU or group of large nations to do what Bukele has done in El Salvador.
If you think that will happen, then it makes perfect sense to make BTC a large part of your longterm portfolio. If you don't think that will happen, you are either a speculator or stupid. It's really that simple.
I guess the strongest arguement I have heard is that the Fed will ultimately be forced to adopt BTC due to an array of future circumstances. Usually a dollar collapse and dethrone as global currency, then BTC is adopted like old gold standard.
I would love to hear the theories on how exactly we get to a world where the US gov has no choice but to adopt BTC. I'm not saying that can't or won't happen, just that it's probability is totally misaligned with level of confidence that BTC maximalists have.
Honest question- how do we get to a point where the US gov adopts BTC? Anyone have a theory they would like to share?
Trump with a GOP house and senate, and promise to create a BTC strategic reserve. Does it actually happen? Why not?
If you think that will happen, then it makes perfect sense to make BTC a large part of your longterm portfolio. If you don't think that will happen, you are either a speculator or stupid. It's really that simple.
I guess the strongest arguement I have heard is that the Fed will ultimately be forced to adopt BTC due to an array of future circumstances. Usually a dollar collapse and dethrone as global currency, then BTC is adopted like old gold standard.
I would love to hear the theories on how exactly we get to a world where the US gov has no choice but to adopt BTC. I'm not saying that can't or won't happen, just that it's probability is totally misaligned with level of confidence that BTC maximalists have.
Honest question- how do we get to a point where the US gov adopts BTC? Anyone have a theory they would like to share?
Trump with a GOP house and senate, and promise to create a BTC strategic reserve. Does it actually happen? Why not?
BTC does not need any government's approval or adoption, i reject your entire premise that its success is dependent on that criteria. governments can change jurisdictions temporarily. new technologies change the entire world forever.
i also don't care if it ever becomes a currency, perfectly fine with it being a store of value.
i also don't care if it ever becomes a currency, perfectly fine with it being a store of value.
Stored even more value today.
If you had bought BTC when OP started this thread, it would currently be considered 4.65 times as valuable.
If you had bought BTC when OP started this thread, it would currently be considered 4.65 times as valuable.
this is the question I struggle withBlueTaze said:
It's good to make a determination on what would make you buy or sell BTC. Whether it's a technical price level, or something fundamental.
People who say they will never buy or never sell, no matter what, ironically fall into the same category.
I've bought it through miner equities several times. Purely technical trades. I love the concept of a decentralized deflationary currency, and the libertarian doctrine of BTC. I just think it's alarming that the biggest BTC ambassadors out there absolutely refuse to acknowledge risks of gov intervention or write it off as negligible.
preparing for early retirement- at what price should I sell my BTC?!