Could've made a lot of money on a worthless company if your timing was good.

TexasRebel said:

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Could've made a lot of money on a worthless company if your timing was good.

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I hope you did. I'm doing fine now.

Passed $100k this evening, I'm starting to think we're taking the long way to 0.

Applied Energy said:

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What say you F16?

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I am strongly convinced that it is just another bubble that will one day come crashing down and wiping out people's fortunes.

Your emotions betray you

'Tis

Yukon Cornelius said:

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Your emotions betray you

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Do you know anything about bubbles?

Do you? Larry Fink says Bitcoin reminds him of the '80s mortgage market. But sure you know better and this is the top.

Post your short position

So a digital (aka fictional) "asset" is going to be the focus of a bidding war by national governments. In this theory, the product will be massively inflated, leading to massive wealth for a select few people who purchased said product prior to its current popularity.

I get that this is the way the world works, but watching the stupidity of humanity in real time is difficult.

If you own any non dividend stocks or PMs you're playing the same game. Just less effectively

eric76 said:

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Yukon Cornelius said:

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Your emotions betray you

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Do you know anything about bubbles?

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Educate us. Note this chart is three years outdated so it does not include the run up to $100k in the 15th year of bitcoin's steady logarithmic growth.

Yeah. Some class of people is going to get royally screwed on this one.

I do enjoy a good Catch-22 though.

bitcoin increases in "value" because HODLers won't sell them.
HODLers will sell them only when they peak in "value"

Quote:

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There was only one catch, and that was Catch-22.
-John Yossarian

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@NFLPlayerProps said:

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eric76 said:

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Yukon Cornelius said:

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Your emotions betray you

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Do you know anything about bubbles?

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Educate us. Note this chart is three years outdated so it does not include the run up to $100k in the 15th year of bitcoin's steady logarithmic growth.

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People used to wise up quicker. …is what I see there.

@NFLPlayerProps said:

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eric76 said:

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Yukon Cornelius said:

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Your emotions betray you

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Do you know anything about bubbles?

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Educate us. Note this chart is three years outdated so it does not include the run up to $100k in the 15th year of bitcoin's steady logarithmic growth.

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The best way to learn about bubbles is probably to read the excellent book Extraordinary Popular Delusions and the Madness of Crowds by Charles MacKay.

@NFLPlayerProps said:

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eric76 said:

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Yukon Cornelius said:

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Your emotions betray you

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Do you know anything about bubbles?

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Educate us. Note this chart is three years outdated so it does not include the run up to $100k in the 15th year of bitcoin's steady logarithmic growth.

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That graph seems unlikely to be accurate.

Reportedly, the prices on tulips went up very dramatically before they crashed.

eric76 said:

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@NFLPlayerProps said:

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eric76 said:

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Yukon Cornelius said:

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Your emotions betray you

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Do you know anything about bubbles?

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Educate us. Note this chart is three years outdated so it does not include the run up to $100k in the 15th year of bitcoin's steady logarithmic growth.

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That graph seems unlikely to be accurate.

Reportedly, the prices on tulips went up very dramatically before they crashed.

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The graph is accurate, you don't understand the Y axis. Or anything else about what's happening.

I'm pretty happy about it too.

My assets have inherent utility.

Congrats to everyone. Next stop:



It's not too late TR.

The best way to not be left holding the bag is to not pick up the bag.

Your grandchildren will thank you for your Texags posts instead of you buying btc and securing their future

They'll find the spam cans to be more useful.

Applied Energy said:

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The new Trump admin seems to be heavily invested and interested in Bitcoin, and responsibly so.

Crypto Czar is appointment is rumored to be Brian Armstrong of Coinbase

I'm very fascinated with Lummis plan as listed here for Strategic Bitcoin Reserves, especially #3:

Senator Cynthia Lummis unveils her #Bitcoin Act of 2024: a 7-point plan, including purchasing 200,000 BTC annually for five years to establish a 1 million BTC Strategic Reserve. pic.twitter.com/lPZqQ8ZQYm

— TFTC (@TFTC21) November 21, 2024

Jason Lowery, who's been identified by RFKjr in speeches for administration role publicly applied to assist the admin on military plans for Bitcoin. He speaks heavily about Mutually Assured Preservation as the new military protocol in lieu of Mutually Assured Destruction, and the implementation of global "Hash Force" designed to protect Bitcoin infrastructure and participants, or at least DETER harm upon them.

Jason Lowery, author of Softwar, has applied to advise the U.S. government on Proof-of-Work technology, #Bitcoin stockpiles, and a national "Hash Force." pic.twitter.com/r6FEfSZ2lP

— TFTC (@TFTC21) November 19, 2024

JUST IN:🇺🇸 US Space Force Major Jason Lowery releases US #Bitcoin National Defense Policy proposal pic.twitter.com/ZD6TE14FCP

— Simply Bitcoin (@SimplyBitcoinTV) November 7, 2024

Majority of global governments and US States are scrambling to assemble their own strategies around bitcoin adoption and growth (note: the opposite of destruction).

El Salvador has been an excellent steward for how to crack down hard on crime, implement a bitcoin standard, drive innovation and excitement and there's good reason why Buekele and Miele (Argentina) are heralded by the GOP and looked to for references.

🇸🇻 El Salvador is purchasing 1 #Bitcoin every day as part of its strategic #BTC reserve.

The country now holds 5,900 $BTC, fully verifiable by any Salvadoran on the #Blockchain.

With a national debt of $30 billion, its Bitcoin reserves—currently worth $575 million at a $97,000… pic.twitter.com/dNsoUhFBXs

— Simon Dixon (@SimonDixonTwitt) November 21, 2024

This tweet is important as Trump has publicly stated "Maybe we'll pay off the Debt with Bitcoin (jokingly serious)." It's a real possibility that it's our way out.

China just legalized it officially (again)

🇨🇳 China is buyin #Bitcoin and adopt it as a strategic reserve asset.

They are buying 1.2 million BTC 👀 pic.twitter.com/q7E0xUkYHj

— Catch The Latest (@CatchTheLatest) November 17, 2024

Bitcoin is very quickly sizing up the Federal Reserve with more ferver and ferocity than ever. What an upswelling of global demand. Burn out the Rot, get to a hard standard of money, distribute the incentives to maximize humanity's growth.

You couldn't have written a better script of the past 15 years since Ron Paul ran for President.


What say you F16?

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Ha, just saw this thread for the first time. I just texted the link to J-LO to let him know he's got a fanclub here on Texags

Someone explain Celebrity Meme Coins to me and why people buy into them? Hawk Tuah girl evidently involved in what sounds like a pump and dump scam. Why would someone buy a Hawk coin as an investment?

https://www.yahoo.com/tech/hawk-tuah-coin-why-celebrity-001259815.html

A fool and his money are soon parted.

The love of money is the root of all evil.

Where your treasure is, there will your heart be also.

Etc, etc, etc...

Sazerac said:

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Only 21M will ever be created. Closing in on 20M

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21M what, exactly?

You know… the things.

_mpaul said:

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Sazerac said:

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Only 21M will ever be created. Closing in on 20M

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21M what, exactly?

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That question has been asked a million times over since 2008. Perhaps you were asking rhetorically, a few answers to that question nevertheless:

As a non-physical mathematical reality. Bitcoins aren't physical. They are a unit of measure which represents mathematically verifiable states within a distributed system.

As a physical-energy reality. Each bitcoin's creation required real physical resources: electricity and computing power through proof of work. This ties the digital scarcity to physical reality through energy expenditure.

As a social reality. Money itself is always an abstract social construct, whether it's shells, gold, paper bills, fiat, or digital entries. We accept a money as a reality via collective agreement, shared social consensus, and its utility.

As a programmatic scarcity reality. A unit of bitcoin, and it's 21 million supply limit if you meant that specifically, emerges from specific protocol rules about block rewards and halving schedules. It exists in the same way that mathematical constants like zero or are real: they emerge from consistent rule sets.

As an enforced consensus reality. The reality of bitcoin units is enforced by millions of nodes running the same protocol rules. This distributed consensus makes the scarcity as real as any other human-created system of rules, like property rights or contract law. Or things like corporate shares or software code.

Bitcoin is merely a concept that can be reliably measured, verifiably transferred, and used within a system of human coordination.

Bitcoin can exist as these things independent of its relative, USD-measured equivalent.

Did you just say zero is made up?

Some good actions in the OP tweet. But the big one that matters most is the $20B a year buy program. Is the gov going to use the money the IRS steals from us to buy BTC?

What are the odds the buy program makes it thru congress? Does anyone have any idea?

I think it's a safe bet that a "national BTC reserve" is created to hold the confiscated criminal BTC, but using tax dollars to buy it is a whole other can of worms.

We use tax dollars to buy barrels of oil and cheese we stick under ground.

We also send money overseas to fight unessessary wars. Tons of things worse than buying BTC. Not sure that has any bearing on my question about the odds of buying what the Fed refers to as a "speculative asset"?

But maybe that is reason enough to abolish the Fed. Which I would totally support.

If there was a near term catalyst, I think the passage of a US gov BTC buy program would be it. I'd put odds at 10% on a 200K/yr buy program. I'm sure the number will go down and pork will go up.

Yukon Cornelius said:

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We use tax dollars to buy barrels of oil and cheese we stick under ground.

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Those have utility.

This week, Powell said:

"Our role would be to make sure BTC doesnt threaten the banking system, and we would want a consumer protection aspect to protect the public."
(24.25 mark)

"Its a speculative asset, like digital gold. People are not using it as a form or payment or as a store of value, it's highly volatile, it's not a competitor for the USD, it's a competitor for gold."
(28.35 mark)

https://www.youtube.com/live/-oLfaksWj4o

The Fed is clearly putting BTC into a specific category that is speculative, volatile, and something that may need a consumer protection aspect.

So is that viewpoint shared widely in Congress? Or is the guy who props up our retirement someone who should be disregarded?

If it ever does become big enough to be a competitor to the USD, then I think there will be some major problems. The Fed very clearly wants to keep it confined in the "store of value" space.

TexasRebel said:

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Did you just say zero is made up?

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I said that zero, along with other mathematical constants like pi, half, square root, exists because it is part of a consistent rule set.

Do you disagree?