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Boy is this thread popular today!!
Meanwhile, I bought the dip at 69k and we’re already back up to 72k 😎
Man everytime you get excited about a price spike, it dips 😅
Boy is this thread popular today!!
Meanwhile, I bought the dip at 69k and we’re already back up to 72k 😎
Yup. In hindsight, I should’ve waited a day. Oh well…Man everytime you get excited about a price spike, it dips 😅
Anybody like or see the utility or XRP ?
Wait. Which coin has a patent on blockchain technology again?The only thing that goes up 15,000% in a few years are the meme coins which I admit have no use case. But to say block chain technology has no use case is a reach
BOME is insane. Memecoin created by a meme artist. Def see this one getting listed on binance/coinbase
Wait. Which coin has a patent on blockchain technology again?
Yup, naysayers have been recycling the same stale, refuted arguments since 2010.Are you saying that anyone can just create a second BTC and make the original worthless? It's been 14 years and the OG is still king.
The fact that you can’t displace bitcoin by creating a better crypto is proof that its value has nothing to do with utility. That’s not really an argument in its favor.Are you saying that anyone can just create a second BTC and make the original worthless? It's been 14 years and the OG is still king.
Oh that’s “proof” huh? That’s a very interesting conclusion to reach 🤔The fact that you can’t displace bitcoin by creating a better crypto is proof that its value has nothing to do with utility. That’s not really an argument in its favor.
B
The fact that you can’t displace bitcoin by creating a better crypto is proof that its value has nothing to do with utility. That’s not really an argument in its favor.
I never said it was going down. I mean people buy alkaline water, so there’s a strong market for useless products if the salesmanship is enough to fool them.btc has gone down just like you said it would. I think I am done and going back to index funds. I really thought it would get to 100k like everyone on this board said it would but literally it just fell apart
In a sense, Bitcoin isn't any more "useful" than gold.
Enormous resources have been expended "mining" Bitcoin. Which is objectively not useful as a medium of exchange. It gets stored in virtual wallets where it doesn't pay dividends, doesn't do work, doesn't grow. But a lot of people have faith that they will be able to trade it for fiat currencies in the future, and then trade those for useful goods and services.
Similarly, enormous resources have bee expended mining gold. Which is objectively not useful as a medium of exchange. It gets dug out of the ground and then put in new holes in the ground (vaults) where it doesn't pay dividends, doesn't do work, doesn't grow. But a lot of people have faith that they will be able to trade it for fiat currencies in the future, and then trade those for useful goods and services.
Is there really any difference? The value of both are rooted in the fact that there's an approximately finite quantity in existence, and their holders' faith.
One difference is that gold has thousands of years of history behind it but Bitcoin doesn't. Maybe that matters, maybe it doesn't.
I don't believe Bitcoin will ever be useful for the things its cheerleaders say it will. We already have far more convenient and useful digital currency (credit and debit cards). I'm sure people will be trading Bitcoin highs and lows for a long time to come. But I'm agnostic on where the top or bottom will be.
I am amused by the constant discussion of "cycles" and patterns, and ****coins that everybody acknowledges are coins of ****. I'm somewhat mystified by their reluctance to admit that ALL OF IT is a zero sum game, and that any growth or profit anyone makes is funded by someone else's loss.
I'm happy to see that people I know and like on SDN are having some success extracting wealth from another cycle of dumb/late money. But I'm perplexed by their need for validation or public acknowledgment that their vision is correct (it may be), or the repeated insistence that doubters are going to be left behind (they won't). It and the vaguely derogatory namecalling ("midcurves") strikes me as oddly insecure.
The desperation to be seen as some kind of visionary is bizarre.
We're 48 pages into this thread. I'm not sure how many pages back I'd have to go to find the people who swore NFTs were going up and up, that their applications were going to change the world. Everything from video games to real estate contracts. It was obviously absurd idea. But somewhere mid-thread I couldn't tell the difference between the coin evangelists and the NFT evangelists. I suppose somewhere out there is a holder of a cartoon monkey NFT who's gonna hodl until it makes him rich.
I still read the thread and occasionally post in it because the whole thing is fascinating to me. The constant insistence that I need Bitcoin or will somehow be left behind if I don't invest in it now is ... ridiculous. For every winner there'll be a loser. I don't need to be either.
In a sense, Bitcoin isn't any more "useful" than gold.
Enormous resources have been expended "mining" Bitcoin. Which is objectively not useful as a medium of exchange. It gets stored in virtual wallets where it doesn't pay dividends, doesn't do work, doesn't grow. But a lot of people have faith that they will be able to trade it for fiat currencies in the future, and then trade those for useful goods and services.
Similarly, enormous resources have bee expended mining gold. Which is objectively not useful as a medium of exchange. It gets dug out of the ground and then put in new holes in the ground (vaults) where it doesn't pay dividends, doesn't do work, doesn't grow. But a lot of people have faith that they will be able to trade it for fiat currencies in the future, and then trade those for useful goods and services.
Is there really any difference? The value of both are rooted in the fact that there's an approximately finite quantity in existence, and their holders' faith.
One difference is that gold has thousands of years of history behind it but Bitcoin doesn't. Maybe that matters, maybe it doesn't.
I don't believe Bitcoin will ever be useful for the things its cheerleaders say it will. We already have far more convenient and useful digital currency (credit and debit cards). I'm sure people will be trading Bitcoin highs and lows for a long time to come. But I'm agnostic on where the top or bottom will be.
I am amused by the constant discussion of "cycles" and patterns, and ****coins that everybody acknowledges are coins of ****. I'm somewhat mystified by their reluctance to admit that ALL OF IT is a zero sum game, and that any growth or profit anyone makes is funded by someone else's loss.
I'm happy to see that people I know and like on SDN are having some success extracting wealth from another cycle of dumb/late money. But I'm perplexed by their need for validation or public acknowledgment that their vision is correct (it may be), or the repeated insistence that doubters are going to be left behind (they won't). It and the vaguely derogatory namecalling ("midcurves") strikes me as oddly insecure.
The desperation to be seen as some kind of visionary is bizarre.
We're 48 pages into this thread. I'm not sure how many pages back I'd have to go to find the people who swore NFTs were going up and up, that their applications were going to change the world. Everything from video games to real estate contracts. It was obviously absurd idea. But somewhere mid-thread I couldn't tell the difference between the coin evangelists and the NFT evangelists. I suppose somewhere out there is a holder of a cartoon monkey NFT who's gonna hodl until it makes him rich.
I still read the thread and occasionally post in it because the whole thing is fascinating to me. The constant insistence that I need Bitcoin or will somehow be left behind if I don't invest in it now is ... ridiculous. For every winner there'll be a loser. I don't need to be either.
The difference is you can’t make more gold, but there’s no limit to creating crypto out of thin air.
I really don’t know why people haven’t just started new blockchains and called them Bitcoin and sold them to suckers. It’s not like there would be any difference between ‘real’ and counterfeit Bitcoin.
The more i think about the money flow coming into the space the more hesitant i am starting to get about selling anything this cycle.
Lets say we get to 140-150 this cycle and 220s the following cycle due to dimishing returns.
Just holding even if u just bought at ath means in 5 years u have a 3x return. Sure u could sell in 140s pay taxes and slowly dca but what if the draw down is less due to the etfs.
Do others feel similarly?
Except BTC is just made up with planned scarcity. You have to realize it offers nothing over a newer better crypto other than hype? And the newer coin offers nothing over another coin. It’s only valuable because you are all pretending it’s valuable.Uh, no. BTC is finite just like gold, diamonds and oil. Only 21 million BTC will exist after they're all mined. This is common knowledge.
There are tens of of thousands of BTC copycats.
Except BTC is just made up with planned scarcity. You have to realize it offers nothing over a newer better crypto other than hype? And the newer coin offers nothing over another coin. It’s only valuable because you are all pretending it’s valuable.
Guess Black Rock, Fidelity, MSTR, TSLA, COIN etc are all pretending too.
It’s all about money. Black Rock and Fidelity see that people are willing to pay for for access to an asset and offer it to their clients… I don’t think they are true believers.Guess Black Rock, Fidelity, MSTR, TSLA, COIN etc are all pretending too.
Guess Black Rock, Fidelity, MSTR, TSLA, COIN etc are all pretending too.
To be clear, I'm totally OK with it and I hope all of you make a killing.Same with diamonds. They have no use case but they are expensive. Synthetic diamonds are better, but people still pay more for natural ones.
Stock options are also a zero sum game. For every 10x winner, there are several losers. People win at the expense of others. People are okay with this, but not crypto for some reason.
Fidelity isn't investing in Bitcoin. They have seized the opportunity to extract wealth from speculators partly via transaction fees, but mostly via other services/upsells.Guess Black Rock, Fidelity, MSTR, TSLA, COIN etc are all pretending too.
Supposedly, crypto will be the financial arm of the internet. The ecosystem/ infrastructure is just getting started. Is that believable?
It’s never going to happen.Supposedly, crypto will be the financial arm of the internet. The ecosystem/ infrastructure is just getting started. Is that believable?
The fundamental problem with this idea is that Bitcoin or crypto in general doesn't do anything better than any fiat currency, and it does most things worse. There hasn't been and won't be any advantage to conducting a transaction in Bitcoins vs dollars or Euros or pesos or any other currency. They're ALL just 1s and 0s on an electronic ledger. Anyone, anywhere can already buy anything[1] with a credit or debit card and an instantaneous electronic transaction. Really large transactions might need an escrow service, but so what?That is my thesis and has been way before this thread started. Along with Bitcoin being a money printing detector. Things are so much clearer after that. The digital revolution will happen faster than most can appreciate.
My god you're a drama queen.Keep denying the inevitable. History will not be kind to you.
It’s never going to happen.
People buy bitcoin because they expect to sell it for more money, not because they want to use it as a ‘currency’. It’s insanely volatile. When it’s going up no one will spend it because they think they’ll be losing money. When it’s going down no one will accept it because they’ll be losing money. If it ever gets price stability then it would be pointless to own and will underperform the market.
I’m not saying you won’t make money. I’m not saying you won’t lose money. I’m just saying it will never be the currency that it was suggested to be.
The fundamental problem with this idea is that Bitcoin or crypto in general doesn't do anything better than any fiat currency, and it does most things worse. There hasn't been and won't be any advantage to conducting a transaction in Bitcoins vs dollars or Euros or pesos or any other currency. They're ALL just 1s and 0s on an electronic ledger. Anyone, anywhere can already buy anything[1] with a credit or debit card and an instantaneous electronic transaction. Really large transactions might need an escrow service, but so what?
You think crypto and smart contracts to facilitate a home purchase without a middleman is really the killer app that justifies crypto? A 2 or 3 or 4 times in a lifetime event for most humans? The existing banking system works fine.
Inflation or devaluation can (will) alter the number of units of those currencies needed to conduct a transaction, but so what?
My god you're a drama queen.
Even if you were actually 100% right, do you actually think people who don't invest in Bitcoin now will wear a scarlet B on their chests and be barred from trading their wages or assets for Bitcoins in the future?
If in the year 2045 all wages and payments are conducted in Bitcoin, only the early adopters will be allowed to work and buy? You think the physicians on this forum, of all people, earning and aggressively saving/investing their $500K+ salaries, are going to be begging for coins from people like you?
You're insufferable.
What you really mean to say is that you think we're missing out on a chance to double or triple our money by buying crypto today. Speculation FOMO is your only actual argument that might contain a shred of truth.
At least the other crypto buyers in this thread admit it's just a speculative play to extract money from others.
Your probably again very well off with no plans to stop work in the near future. A lot of what you say makes sense. I don't know much but I think in 4 years this stuff will appreciate more than other investment vehicles on average. No one should be overexposed but 1-5% is ok even if things don't go as planned. However, with the big players in the game they have more motive to keep this going up for the next several years because they will make more $ then if they shorted the hell out of it now and come out and say hey sorry we were wrong its a big scam and go back to index funds again... how would the public trust them the same way again. This point in time is less risky than any other based solely on that.
All i'll say about that direct guy is he has been right about most things and i think he'll be right on the price action going up and I give him props for seeing this as the OP of this thread.
OP made this thread in 8/2020.
BTC was under $12k, currently $67.4k
MSTR was $145, currently $1,782
Incredible.
Those coins are owned by the investors who own shares of the ETF. Fidelity has custody of them (which itself is a weird perversion of the cryptocurrency ideal) but they belong to their customers.Fidelity currently owns 132,374 BTC in their spot ETF. You don't consider that investing in BTC?
Fidelity Wise Origin Bitcoin Fund (FBTC)
Learn about the company Fidelity FBTC ETF and how much bitcoins the fund owns.bitcointreasuries.com
sure convinced me
Any SOL bears left?
The flippening is getting close brotha. SOL to #3 soon
Any SOL bears left?
So you gonna empty out the bank accounts and put it all in sol?