Got around to digesting your suggestion, the bitcoin standard. It's a good book and good intro, but the author is quite arrogant (no surprise), and clearly a major btc fanboi.

Near the end of the book "I have yet to identify a single digital currency that offers any product or service has any market demand". Haha.

No doubt he's emphasizing there's nothing comparable to bitcoin.

I'm on Chapter 3 or 4 of the BTC Standard as we speak. Also got the Fiat Standard as well. That one is next.

BudFox7 said:

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Got around to digesting your suggestion, the bitcoin standard. It's a good book and good intro, but the author is quite arrogant (no surprise), and clearly a major btc fanboi.

Near the end of the book "I have yet to identify a single digital currency that offers any product or service has any market demand". Haha.

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I wouldn't call him arrogant, more-so just confident in BTCs future.

When you think about it that makes sense. BTC is an asymmetric bet. It's basically a coin flip on adoption yet the most it can lose is $43,000/coin right now. If adopted it will assuredly be worth some giant multiplier of its current price. Anyone that is truly rational and understands game theory and expected value understands how much of a bargain Bitcoin currently is. Even if adoption is 20% it's still a bargain over a fair deal.

Chrundle the Great said:

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If your internet is down for whatever reason (volcano, apocalyptic level earthquakes, govt insurrection, you have suddenlink)

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That made me actually laugh out loud

BudFox7 said:

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Got around to digesting your suggestion, the bitcoin standard. It's a good book and good intro, but the author is quite arrogant (no surprise), and clearly a major btc fanboi.

Near the end of the book "I have yet to identify a single digital currency that offers any product or service has any market demand". Haha.

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That last quote is what I can't quite understand about the BTC maxi position. There is lots of demonstrated demand for BTC, and I agree with JamesBREI06 that BTC is an asymmetric bet.

But there is also significant demonstrated demand for all sorts of other blockchain tech too. Much of it does things that are either completely not possible or are very difficult to do currently on on the Bitcoin network. And if we only evaluate demand based on capital allocation, there is 'more demand' for the alternative blockchain tech bc BTC market cap is < 50% of total crypto mkt cap.

JamesBREI06 said:

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BudFox7 said:

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Got around to digesting your suggestion, the bitcoin standard. It's a good book and good intro, but the author is quite arrogant (no surprise), and clearly a major btc fanboi.

Near the end of the book "I have yet to identify a single digital currency that offers any product or service has any market demand". Haha.

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I wouldn't call him arrogant, more-so just confident in BTCs future.

When you think about it that makes sense. BTC is an asymmetric bet. It's basically a coin flip on adoption yet the most it can lose is $43,000/coin right now. If adopted it will assuredly be worth some giant multiplier of its current price. Anyone that is truly rational and understands game theory and expected value understands how much of a bargain Bitcoin currently is. Even if adoption is 20% it's still a bargain over a fair deal.

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Speaking of BTC's future: Is the lack of active management team for BTC going to contribute to its downfall? Don't get me wrong, we are actively deploying $MM's for mining but the long term viability of any coin is its utilization and usefulness. To piggy back my earlier question, what makes BTC interesting is the lack of a central figurehead and team like Etherium and Cardano…but isn't that management team what will allow them to make changes and adapt to the ever developing needs for blockchain tech?

Another good step. Moving forward.

https://u.today/cardanos-first-all-in-one-defi-wallet-announces-new-connectivity-milestone

I guess better than never.

YNWA_AG said:

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https://www.baboonfinance.com/
Could see this being the next shib or safemoon

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Market cap has double since this posting.

administrative errors said:

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No doubt he's emphasizing there's nothing comparable to bitcoin.

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The concluding portions of the book, such a terrible take. Writes off smart contracts and any utility of blockchain tech for anything aside from BTC. Essentially declares ETH dead, all blockchain apps dead, and everything not named BTC worthless. Clearly, he's already been proven wrong. Prior to that though it was entertaining and a good.

Big drops.

$BOON to the MOON

FAT SEXY said:

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NTXAg10 said:

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Either way you slice it, it's unlikely to happen.

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Idk how you can look at the Bitcoin chart and think that it dipping into the 30's this month is unlikely. It looks like a real possibility.

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I am guessing it will fall lower than that. But i know nothing.

Wow! @Samsung 's land restoration efforts – 2 million trees to ben planted this quarter, done by our great friends at @veritree, will live on our blockchain!

Meaning: Samsung will now get exposure to #cardano

— Sidney Vollmer (@SidneyVollmer) January 4, 2022

I dont think anything he spoke about has been disproven.

But our perspectives differ. Glad you enjoyed the book. I'm still reading the fiat standard, but I'm enjoying it as well.

Curiously, for those who have taken the time, what wad the most informative portion of "the bitcoin standard" that you went over a few times or continue to gnaw on?

That escalated quickly.. https://t.co/mGxbnVUYVe

— hodlonaut 🌮⚡🔑 🐝 (@hodlonaut) January 6, 2022

I don't know if there was one thing I could point to. I'd say it gave me an interest in delving deeper into Austrian School of Economics and economics in general. I was given von Mises Theory of Money and Credit and Basic Economics by Sowell for Christmas. Not specifically BTC related but that is the path I am currently following from reading The Bitcoin Standard.

That's not what I was referring to.

Comeby! said:

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JamesBREI06 said:

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BudFox7 said:

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Got around to digesting your suggestion, the bitcoin standard. It's a good book and good intro, but the author is quite arrogant (no surprise), and clearly a major btc fanboi.

Near the end of the book "I have yet to identify a single digital currency that offers any product or service has any market demand". Haha.

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I wouldn't call him arrogant, more-so just confident in BTCs future.

When you think about it that makes sense. BTC is an asymmetric bet. It's basically a coin flip on adoption yet the most it can lose is $43,000/coin right now. If adopted it will assuredly be worth some giant multiplier of its current price. Anyone that is truly rational and understands game theory and expected value understands how much of a bargain Bitcoin currently is. Even if adoption is 20% it's still a bargain over a fair deal.

---

Speaking of BTC's future: Is the lack of active management team for BTC going to contribute to its downfall? Don't get me wrong, we are actively deploying $MM's for mining but the long term viability of any coin is its utilization and usefulness. To piggy back my earlier question, what makes BTC interesting is the lack of a central figurehead and team like Etherium and Cardano…but isn't that management team what will allow them to make changes and adapt to the ever developing needs for blockchain tech?

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Well, it was never meant to have a management team as that would go against its very nature. I think applying a management team concept to it implies it exists to make a profit. While that is the base concept for a business, BTC wasn't designed to be a business.

Moving that aside there could be a debate specific to delivering changes and improvements and whether or not open source, decentralized ownership can compete with a more top down, centralized driven road map.

No idea on that. I've only ever lived in the latter world and have little experience with the former aside from just owning BTC.

My use of the word management team is strictly as it pertains to the improvement and upgrading of bitcoin. I still need to read the open source improvement mechanism and how secure that works, as ac04 posted above.

Comeby! said:

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My use of the word management team is strictly as it pertains to the improvement and upgrading of bitcoin. I still need to read the open source improvement mechanism and how secure that works, as ac04 posted above.

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Yeah, I'm ignorant with open source concepts and methodology as it pertains to working a roadmap.

I wonder if it's relevant though? Some of these other solutions are actually hosted on big tech clouds. Those solutions can improve and whiz bang all they want at great speed, but I have zero desire to delve into it. Those solutions are inherently compromised simply by where they live.

Comeby! said:

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JamesBREI06 said:

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BudFox7 said:

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Got around to digesting your suggestion, the bitcoin standard. It's a good book and good intro, but the author is quite arrogant (no surprise), and clearly a major btc fanboi.

Near the end of the book "I have yet to identify a single digital currency that offers any product or service has any market demand". Haha.

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I wouldn't call him arrogant, more-so just confident in BTCs future.

When you think about it that makes sense. BTC is an asymmetric bet. It's basically a coin flip on adoption yet the most it can lose is $43,000/coin right now. If adopted it will assuredly be worth some giant multiplier of its current price. Anyone that is truly rational and understands game theory and expected value understands how much of a bargain Bitcoin currently is. Even if adoption is 20% it's still a bargain over a fair deal.

---

Speaking of BTC's future: Is the lack of active management team for BTC going to contribute to its downfall? Don't get me wrong, we are actively deploying $MM's for mining but the long term viability of any coin is its utilization and usefulness. To piggy back my earlier question, what makes BTC interesting is the lack of a central figurehead and team like Etherium and Cardano…but isn't that management team what will allow them to make changes and adapt to the ever developing needs for blockchain tech?

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My take is that BTC is very, very good at being a decentralized store of value for the exact same reasons that make it less good at other use cases (smart contracts etc).

For example, just look at the block size wars and segwit etc. innovation can happen, but it takes a long time. This long time makes it difficult to change, which is great for increasing trust in the network, but not great for moving quickly. This leaves an opening for other chains that move more quickly and/or were designed from scratch to be more than an electronic payment system.

The open source continual development of Bitcoin is very effective:
Check this out: https://github.com/bitcoin/bips

Bps 52 attempts to help reduce energy consumption. Optical PoW.

Yea I have no desire to learn any of the improvements or even begin to attempt to validate or refute it. I simply need to fully understand it and predict any and all questions as we move towards investing millions. All investors care about is 'when am I getting my money back'.

Comeby! said:

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Yea I have no desire to learn any of the improvements or even begin to attempt to validate or refute it. I simply need to fully understand it and predict any and all questions as we move towards investing millions. All investors care about is 'when am I getting my money back'.

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Well, this takes this back to my first comment. If you're clients are looking at this as a way to make money (which I get) then you potentially have misaligned expectations. They are expecting a centralized management team to see this thing through to success and it was simply not built for that outcome.

So, they need to understand that reality before they invest in this as if they are buying ownership stock of a company that has shareholder value as it's priority. It does not and never will.

For context, I originally bought BTC to make a fiat profit. Now that I know more about it, I own it as a hedge against the coming reality of digital money and control.

YouBet said:

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Comeby! said:

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Yea I have no desire to learn any of the improvements or even begin to attempt to validate or refute it. I simply need to fully understand it and predict any and all questions as we move towards investing millions. All investors care about is 'when am I getting my money back'.

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Well, this takes this back to my first comment. If you're clients are looking at this as a way to make money (which I get) then you potentially have misaligned expectations. They are expecting a centralized management team to see this thing through to success and it was simply not built for that outcome.

So, they need to understand that reality before they invest in this as if they are buying ownership stock of a company that has shareholder value as it's priority. It does not and never will.

For context, I originally bought BTC to make a fiat profit. Now that I know more about it, I own it as a hedge against the coming reality of digital money and control.

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Let me clarify, we are mining with our own natural gas. The investment is the capex for the miners.

Have any of you guys got in Defi Kingdoms? Any insight into how they're providing the APRs in their LPs?

Not into it other than owning a lot of ONE. I hear lots of good things about it, especially growth and popularity.

Not helpful I know but good luck.