Cryptocurrency

[vomit 502]

BUY BUY BUY

[Frozenbeernuts 1,652]

Listen to this video. Set aside one hour.

[lod001 1,237]

Nice melt up in the last 2hours.

[nobody 2,044]

It would probably be a good time to take a cryptocurrency ride if one were prone to do such things.

[jerryskids 5,207]

 

Quote

 

Russia is considering selling its oil and gas for bitcoin as sanctions intensify from the West

KEY POINTS

• Russia might accept bitcoin as payment for its oil and gas exports as Western countries stiffen sanctions.
• In a videotaped news conference on Thursday, the chair of Russia’s Duma committee on energy said in translated remarks that when it comes to “friendly” countries such as China or Turkey, Russia is willing to be more flexible with payment options.
• Chair Pavel Zavalny said that the national fiat currency of the buyer — as well as bitcoin — were being considered as alternative ways to pay for Russia’s energy exports.

 

https://www.cnbc.com/2022/03/24/russia-might-take-bitcoin-as-payment-for-oil-and-gas-as-sanctions-rise.html?mc_cid=598f2b1381&mc_eid=db8060e0ab

BTC is up 13.5% in the past week.

[lod001 1,237]

11 hours ago, nobody said:

It would probably be a good time to take a cryptocurrency ride if one were prone to do such things.

Been doing that thru MARA stock. 20% so far.

[Frozenbeernuts 1,652]

Listen to the video I posted. This is all a part of the game theory of bitcoin. If you think the government is going to ban it then you have not actually paid any attention to it. Why would Russia even consider using bitcoin if it was some useless internet money? 21 million is the max supply. What happens when more and more people decide they need bitcoin to support their reserves 

[vomit 502]

20 hours ago, Frozenbeernuts said:

Listen to the video I posted. This is all a part of the game theory of bitcoin. If you think the government is going to ban it then you have not actually paid any attention to it. Why would Russia even consider using bitcoin if it was some useless internet money? 21 million is the max supply. What happens when more and more people decide they need bitcoin to support their reserves 

It's great that you believe in Bitcoin but I don't get why you want us all to watch a one hour sales video and get us to invest too.

[MTSkiBum 1,594]

1 hour ago, vomit said:

It's great that you believe in Bitcoin but I don't get why you want us all to watch a one hour sales video and get us to invest too.

 

That does make sense, it is in Frozen's best interest to convince as many people possible to invest in bitcoin because this will increase the demand for bitcoin. Frozen already pointed out the fact that the supply is limited at 21 million. Any time you have a hard limit on supply and increasing demand it drives the prices higher.

The more people that can be convinced to invest in bitcoin the higher the price will go and will help drive his profits.

Also, there is a secondary reason that people have posts like Frozen's. My guess is that he genuinely believes in the product and is trying to help whoever will listen to him make some money.

 

[nobody 2,044]

1 hour ago, MTSkiBum said:

 

That does make sense, it is in Frozen's best interest to convince as many people possible to invest in bitcoin because this will increase the demand for bitcoin. Frozen already pointed out the fact that the supply is limited at 21 million. Any time you have a hard limit on supply and increasing demand it drives the prices higher.

The more people that can be convinced to invest in bitcoin the higher the price will go and will help drive his profits.

You're describing a pump and dump scheme.

[MTSkiBum 1,594]

12 minutes ago, nobody said:

You're describing a pump and dump scheme.

 

Only if the intention is to dump it. It would be the same as talking up a stock you believe in.

[Frozenbeernuts 1,652]

4 hours ago, vomit said:

It's great that you believe in Bitcoin but I don't get why you want us all to watch a one hour sales video and get us to invest too.

Its not a sales pitch. Michael Saylor points out how and why the adoption will happen.

Let me ask you this, if the adoption plays out like Saylor lays out, will it have been just a sales pitch? The answer is no. If you don't want to buy bitcoin and you think this is all one big scam then that's fine. There will be plenty of people like that.

And if you think I'm rubbing my hands together thinking this boards pittance is going to increase the value of my bitcoin then you have simultaneously over estimated your impact on the price and underestimated the value of the rest of the world on the price. Individual billionaires don't affect the price. Your $200 definitely won't make a dent

[nobody 2,044]

1 hour ago, MTSkiBum said:

 

Only if the intention is to dump it. It would be the same as talking up a stock you believe in.

Well, you don't have profit unless you sell.

[Frozenbeernuts 1,652]

These massive entities are not buying to dump as soon as the price goes up. Not saying they won't sell ever, but people like Michael Saylor will just borrow against it. Why sell and incur capital gains tax and lose bitcoin when one can collateralize it? He is already doing it now

[nobody 2,044]

19 minutes ago, Frozenbeernuts said:

Its not a sales pitch. Michael Saylor points out how and why the adoption will happen.

Let me ask you this, if the adoption plays out like Saylor lays out, will it have been just a sales pitch? The answer is no. If you don't want to buy bitcoin and you think this is all one big scam then that's fine. There will be plenty of people like that.

And if you think I'm rubbing my hands together thinking this boards pittance is going to increase the value of my bitcoin then you have simultaneously over estimated your impact on the price and underestimated the value of the rest of the world on the price. Individual billionaires don't affect the price. Your $200 definitely won't make a dent

I think it's fairly obvious you believe bitcoin is going to be the world's currency, so I for one don't think you're rubbing your hands together thinking this board's pittance is going to increase the value of your bitcoin.

Now why you'd actually want that is another question, but there is no question in my mind you want that and believe it will happen.

[vomit 502]

1 hour ago, Frozenbeernuts said:

Its not a sales pitch. Michael Saylor points out how and why the adoption will happen.

Let me ask you this, if the adoption plays out like Saylor lays out, will it have been just a sales pitch? The answer is no. If you don't want to buy bitcoin and you think this is all one big scam then that's fine. There will be plenty of people like that.

And if you think I'm rubbing my hands together thinking this boards pittance is going to increase the value of my bitcoin then you have simultaneously over estimated your impact on the price and underestimated the value of the rest of the world on the price. Individual billionaires don't affect the price. Your $200 definitely won't make a dent

Then why do you keep posting about how Bitcoin is going to 1m?

[vomit 502]

1 hour ago, Frozenbeernuts said:

These massive entities are not buying to dump as soon as the price goes up. Not saying they won't sell ever, but people like Michael Saylor will just borrow against it. Why sell and incur capital gains tax and lose bitcoin when one can collateralize it? He is already doing it now

Borrowing against a speculative asset is dumb.

[Frozenbeernuts 1,652]

2 hours ago, nobody said:

I think it's fairly obvious you believe bitcoin is going to be the world's currency, so I for one don't think you're rubbing your hands together thinking this board's pittance is going to increase the value of your bitcoin.

Now why you'd actually want that is another question, but there is no question in my mind you want that and believe it will happen.

I am not sold on bitcoin being the world's currency. I think it more likely acts like gold. If the entire world declared bitcoin legal tender today, most of it wouldn't move because those who hold it don't want to part with it. There just isn't enough liquidity

Janet Yellen has even acknowledged that the US needs to stay at the forefront of innovation when it comes to crypto currency and bitcoin.

And I was referring to Ski when he said I somehow benefit from a few board members putting their pennies into bitcoin

[Frozenbeernuts 1,652]

33 minutes ago, vomit said:

Then why do you keep posting about how Bitcoin is going to 1m?

Because it is. I love talking about bitcoin. I check in once in a while to see if anyone besides 90s or cdub gets it. It's pretty crazy to see the available supply of bitcoin dry up. Eventually we will see the price follow. This year I think we see bitcoin over 100k. If it doesn't happen this year either, I really don't care. I'm invested long term. I plan on always owning bitcoin.

[Frozenbeernuts 1,652]

34 minutes ago, vomit said:

Borrowing against a speculative asset is dumb.

Typically. Check our what Michael Saylor has done. He is like 500% into bitcoin. If he is right it will prove to be the single greatest move by a corporation of all time. That is not hyperbole. There will be no debate on it

[Frozenbeernuts 1,652]

Simply speaking on supply and demand, we have a supply shock forming right now. Thats with 1 major corporation hoarding bitcoin. One sovereign nation buying it for their reserves. And one stable coin buying up 300% of the daily mined bitcoin over the last 7 or 8 days. What happens when there is more than 1 of each doing so? What is that going to do to the supply and subsequent price? We are going to see a drastic move upward

Now we will see a retracement at some point. No asset goes straight up forever. But bitcoin will remain volatile to the upside. If you don't think so, then you should probably do your best to ignore it, because it's going to eat you up bad inside when you see how wrong you were. My base recommendation is to put a few hundred in. That will at least stop you from wanting to vomit all over the floor. If you have a small portion of your money in, a massive leg up will at least give you a small benefit while you kick yourself for not listening. Especially when you realize there is sooo much info out there and data that supports my bullish prognosis

[Frozenbeernuts 1,652]

I also think it will be worth multiple millions per coin eventually.  It just 1 mil

[vomit 502]

10 minutes ago, Frozenbeernuts said:

Typically. Check our what Michael Saylor has done. He is like 500% into bitcoin. If he is right it will prove to be the single greatest move by a corporation of all time. That is not hyperbole. There will be no debate on it

And if he's wrong, his company and everyone who works there is focked.  It's gambling.

[nobody 2,044]

22 minutes ago, Frozenbeernuts said:

I am not sold on bitcoin being the world's currency. I think it more likely acts like gold. If the entire world declared bitcoin legal tender today, most of it wouldn't move because those who hold it don't want to part with it. There just isn't enough liquidity

Janet Yellen has even acknowledged that the US needs to stay at the forefront of innovation when it comes to crypto currency and bitcoin.

And I was referring to Ski when he said I somehow benefit from a few board members putting their pennies into bitcoin

Oh okay.  I thought you were the guy that was saying Bitcoin was going to replace the dollar.  If you think it's going to be a good proxy (aka store of value) then I can get behind that use case.

[MTSkiBum 1,594]

18 minutes ago, Frozenbeernuts said:

Because it is. I love talking about bitcoin. I check in once in a while to see if anyone besides 90s or cdub gets it. It's pretty crazy to see the available supply of bitcoin dry up. Eventually we will see the price follow. This year I think we see bitcoin over 100k. If it doesn't happen this year either, I really don't care. I'm invested long term. I plan on always owning bitcoin.

 

There are others of us that are quite familiar with block chain, proof of stake verse proof of work, transaction time, number of transaction per second limitations, etc.

 

Just because there are only a few people posting in this thread does not mean more people do not get it.

[Frozenbeernuts 1,652]

38 minutes ago, vomit said:

And if he's wrong, his company and everyone who works there is focked.  It's gambling.

And if he is right he will be the richest man in the world. Russia said they are considering accepting bitcoin for their oil BTW

[nobody 2,044]

26 minutes ago, MTSkiBum said:

 

There are others of us that are quite familiar with block chain, proof of stake verse proof of work, transaction time, number of transaction per second limitations, etc.

 

Just because there are only a few people posting in this thread does not mean more people do not get it.

It's because I understand the technology that I don't think Bitcoin is going to be everything people hope it is.

 

[Alias Detective 1,179]

51 minutes ago, MTSkiBum said:

 

There are others of us that are quite familiar with block chain, proof of stake verse proof of work, transaction time, number of transaction per second limitations, etc.

 

Just because there are only a few people posting in this thread does not mean more people do not get it.

Puffs chest….lol

[WhiteWonder 2,172]

On 3/28/2022 at 12:10 PM, Frozenbeernuts said:

Listen to the video I posted. This is all a part of the game theory of bitcoin. If you think the government is going to ban it then you have not actually paid any attention to it. Why would Russia even consider using bitcoin if it was some useless internet money? 21 million is the max supply. What happens when more and more people decide they need bitcoin to support their reserves 

I really don't want to spend too much time debating bitcoin but when I read posts like this, I have to.  And yes, I know I'm only speaking for myself and what i've always felt about BTC and there are probably people who read this thread who do think what you are claiming.... but anyway.... 

the government is not going to BAN bitcoin.... but its not ever going to let it replace fiat, which was a huge talking point in this thread for years? and it may even regulate it. 

Bitcoin is not useless internet money. It obviously has uses as you can buy it as an investment and you can use it to make purchases and transfers.

But here's the thing.... when you buy bitcoin, what exactly are you gaining over the people who don't buy it or don't understand it and don't buy it? You're really just gaining (or losing) as you would on any investment relative to your point of entry. If you want to buy..... a car with your bitcoin, the price of that car is the same. You could pay 45k for your car or you could pay 1 BTC for you car. That 1 BTC still costs you 45k because that's what you would have in USD if you sold your 1 BTC.  "Oh but I only paid 10k for my 1 BTC so my car only cost me 10k".... nope. You made 35k on your investment but the car still cost you 45k because again, you could have also converted your bitcoin into USD first. It's the same as selling 45k worth of Apple stock to pay for your new car.  If Tesla starts accepting Apple stock as payment....... you see what I'm saying.

 

Now where I am intrigued, as an investor, is the max 21 million supply and the reported 19 million already mined. If this holds true, then BTC could be viewed like a precious metal with a limited supply that's continuing to run out. Price (USD) will go up because supply is running out and fomo creates demand. 

[Frozenbeernuts 1,652]

2 hours ago, WhiteWonder said:

I really don't want to spend too much time debating bitcoin but when I read posts like this, I have to.  And yes, I know I'm only speaking for myself and what i've always felt about BTC and there are probably people who read this thread who do think what you are claiming.... but anyway.... 

the government is not going to BAN bitcoin.... but its not ever going to let it replace fiat, which was a huge talking point in this thread for years? and it may even regulate it. 

Bitcoin is not useless internet money. It obviously has uses as you can buy it as an investment and you can use it to make purchases and transfers.

But here's the thing.... when you buy bitcoin, what exactly are you gaining over the people who don't buy it or don't understand it and don't buy it? You're really just gaining (or losing) as you would on any investment relative to your point of entry. If you want to buy..... a car with your bitcoin, the price of that car is the same. You could pay 45k for your car or you could pay 1 BTC for you car. That 1 BTC still costs you 45k because that's what you would have in USD if you sold your 1 BTC.  "Oh but I only paid 10k for my 1 BTC so my car only cost me 10k".... nope. You made 35k on your investment but the car still cost you 45k because again, you could have also converted your bitcoin into USD first. It's the same as selling 45k worth of Apple stock to pay for your new car.  If Tesla starts accepting Apple stock as payment....... you see what I'm saying.

 

Now where I am intrigued, as an investor, is the max 21 million supply and the reported 19 million already mined. If this holds true, then BTC could be viewed like a precious metal with a limited supply that's continuing to run out. Price (USD) will go up because supply is running out and fomo creates demand. 

I already said that it doesn't really make sense to replace dollars with. It is way more transmissible across the globe than any other money. A lot cheaper too. But people aren't just going to spend their bitcoin because the taxes are removed. I'm still holding mine and so will most people.

Bitcoin will act as two main things. One will be a store of value, like you said. The supply is so small. What else has a supply of just 21 million units?

The second is the rails of the global financial system. Dollars will be transacted over its network. The 13 year old network is already far superior to the existing system.

[nobody 2,044]

2 hours ago, WhiteWonder said:

Now where I am intrigued, as an investor, is the max 21 million supply and the reported 19 million already mined. If this holds true, then BTC could be viewed like a precious metal with a limited supply that's continuing to run out. Price (USD) will go up because supply is running out and fomo creates demand. 

That is until the community decides to change the software to make more if someone group advocates strongly enough for it.

[Big Guy 1,400]

Serious question....

How will any crypto have any worth if they shut down the internet and the banks?

[nobody 2,044]

6 minutes ago, Frozenbeernuts said:

I already said that it doesn't really make sense to replace dollars with. It is way more transmissible across the globe than any other money. A lot cheaper too. But people aren't just going to spend their bitcoin because the taxes are removed. I'm still holding mine and so will most people.

Bitcoin will act as two main things. One will be a store of value, like you said. The supply is so small. What else has a supply of just 21 million units?

The second is the rails of the global financial system. Dollars will be transacted over its network. The 13 year old network is already far superior to the existing system.

This is why I can't trust your opinion.

1. I recall you saying you did think Bitcoin was going to replace fiat in this very thread.  Now you seem to be ignoring that you advocated for that and factored it into your valuation.
2. I don't think Bitcoin is cheap to convert in and out of fiat.  Are you really saving anything over freaking paypal when transferring across borders?  
3. "What else has a supply of just 21 million units"  That statement sets off alarm bells in my head.  That's the type of thing people who think stock splits make stocks cheaper say. 
4. The 13 year old network is not "far superior" to the existing system.  The 13 year old network can't handle volume and can't scale.  That's why they are compromising on all the good security features to make it scalable.

When I read this type of stuff I think a few things

1. You want Bitcoin to proliferate.  Yes, you've been right so far, but you've been right for the wrong reasons.  That's a dangerous spot to be in.
2. Your "I'll never sell" decree just tells me that you have no target valuation.  That's also dangerous.  What happens if a new digital currency comes along and makes Bitcoin the Friendster to it's Facebook.  So you'll just ride it all the way down and not swap out to the new hotness?  That's not investing.  That's just white-knuckling it.
3. You're a novice investor.  Investing should be emotionless.  Cold hard facts should drive every decision.  You're emotionally invested in Bitcoin as well as financially.  

One thing I do every morning is I look at the stock market.  The first thing I see is bitcoin price, and when Bitcoin is up, I know the NASDAQ is up.  When bitcoin is down I know the NASDAQ is down.  It's trading like a leveraged derivative of the NASDAQ.  That means it's a pure spec play right now.  If it was being treated like a gold proxy, it should trade inverse to the NASDAQ and should've went crazy during this inflation scare.  Why hasn't it?

At least you're starting to get it.  If there is money to be made here, it's this "Dollars will be transacted over its network"  That's what the hedge funds that control the price are counting on, so expect anything to get in the way of that to hurt your investment.

[WhiteWonder 2,172]

10 minutes ago, nobody said:

This is why I can't trust your opinion.

1. I recall you saying you did think Bitcoin was going to replace fiat in this very thread.  Now you seem to be ignoring that you advocated for that and factored it into your valuation.
2. I don't think Bitcoin is cheap to convert in and out of fiat.  Are you really saving anything over freaking paypal when transferring across borders?  
3. "What else has a supply of just 21 million units"  That statement sets off alarm bells in my head.  That's the type of thing people who think stock splits make stocks cheaper say. 
4. The 13 year old network is not "far superior" to the existing system.  The 13 year old network can't handle volume and can't scale.  That's why they are compromising on all the good security features to make it scalable.

When I read this type of stuff I think a few things

1. You want Bitcoin to proliferate.  Yes, you've been right so far, but you've been right for the wrong reasons.  That's a dangerous spot to be in.
2. Your "I'll never sell" decree just tells me that you have no target valuation.  That's also dangerous.  What happens if a new digital currency comes along and makes Bitcoin the Friendster to it's Facebook.  So you'll just ride it all the way down and not swap out to the new hotness?  That's not investing.  That's just white-knuckling it.
3. You're a novice investor.  Investing should be emotionless.  Cold hard facts should drive every decision.  You're emotionally invested in Bitcoin as well as financially.  

One thing I do every morning is I look at the stock market.  The first thing I see is bitcoin price, and when Bitcoin is up, I know the NASDAQ is up.  When bitcoin is down I know the NASDAQ is down.  It's trading like a leveraged derivative of the NASDAQ.  That means it's a pure spec play right now.  If it was being treated like a gold proxy, it should trade inverse to the NASDAQ and should've went crazy during this inflation scare.  Why hasn't it?

At least you're starting to get it.  If there is money to be made here, it's this "Dollars will be transacted over its network"  That's what the hedge funds that control the price are counting on, so expect anything to get in the way of that to hurt your investment.

one of the most intelligent posts i've read in this thread. 

[Frozenbeernuts 1,652]

23 minutes ago, WhiteWonder said:

one of the most intelligent posts i've read in this thread. 

Its actually the opposite

1. I don't know exactly how bitcoin will fit into the monetary system of the world. What it's role will exactly be. I know that the dollar is screwed as far as trust. The US put the final nail in that trust when they pulled Russias dollar reserves. It's why a trust less system works, because no one trusts anyone else to run the system. As they shouldn't be. Bitcoin will for sure be a preferred reserve asset and it may be the financial rails that the world runs on.

2. This point alone means any opinion you have on bitcoin is null and void. If you don't know the simple fact that bitcoin is a revolution in swapping between currencies then you need to start from the most basic of basics on bitcoin learning. You also don't understand that you can't just send money across the world. Especially large sums. The intermediaries want their fees.

3. What the hell does this even mean? I am pointing out how rare it is. This isn't a stock. How basic do we need to get here? Did you think bitcoin was a stock? If you did... refer to my basics comment. Bitcoin has a hard cap that cannot be changed. Not without a massive battle and a hard fork. If I was telling people here to buy into oil because I had found out there was a limited quantity, say 21 million barrels left in the earth total, you wouldn't be accusing me of stock split tactics. Jfc

4. It can't scale? That's what the second layer is for. Another person ignoring that bitcoin doesn't only operate on the base layer, and it has been like this for YEARS. If the old system was still so great, why does it take days for final settlement of dollars? Why aren't transactions processed on the weekend? Why does my bank start asking questions when I move thousands of dollars around? Why can I only take so much of my money out of the bank at once? Why will I be charged a 10% fee for sending money across the world? A large fee for swapping between currencies?

 

1. Who cares why I'm right? I'm right. I actually believe I'm in it for the right reasons. I believe in the permissionless and censorship resistant money that cannot have its rules manipulated or changed.

 

2. I will sell some at some point, but I will never sell all of it. Why would I sell all of it when I believe it's going to go up indefinitely for the rest of my life? If something changes then I will change, but until then I plan on keeping most of it and using it as collateral for loans. Also there will most likely never be a digital currency that surpasses bitcoin. I am not even going to attempt to explain this one. You will either figure it out on your own, or you will spend the rest of your life just waiting for that new awesome currency to appear that somehow  beats bitcoin even though bitcoin has been proven and has a massive head start.

3. Bitcoin is not a stock. It has rules and principals which I think are worth fighting for. It doesn't matter if I want it to go up. I am nothing in the bitcoin grand scheme. It will go up because it has a massive base of die hard supporters that allowed it to survive until the masses understood its importance. I am not here schilling bitcoin hoping everyone in here increases the value of my bitcoin by a few pennies. In the end the economic boon of mining and price appreciation will continue to swallow up capital. People will want to get in because it is economically advantageous.

[WhiteWonder 2,172]

meme stocks also have massive bases of die hard supporters who want to earn money... they want to earn US Dollars on their investment, which is  what bitcoin investors want as well, unless, as many other posters used to claim, you think it's going to replace fiat.... in which case you should never care what your BTC is worth in USD  (i'm not saying you do. maybe your end game is to accumulate as much as possible for a shift in wealth when bitcoin replaces fiat ) Although the belief that governments will ever let a decentralized currency replace fiat is laughable. 

its an investment, just like a stock is. 

what i generally see in here are bitcoin diehards just parroting over and over again that no one else understands bitcoin while never being willing to admit their stake in it is just like any other investment, stocks included. 

shares of Apple are never replacing the US Dollar. Bitcoin is never replacing the US Dollar (at least not in its current form). Buying digital coins is not that far off from buying shares of a company. Yes, bitcoin has additional utility but are YOU making use of that utility? 

Quote

 

In the end the economic boon of mining and price appreciation will continue to swallow up capital. People will want to get in because it is economically advantageous.

can you explain the above a little further?  it kind of sounds like a string of financial buzz terms. What exactly is the 'economic boon' of mining? Or did you mean boom? I've never really viewed bitcoin mining as much of a boon since it is expensive and not energy efficient at all. 

[Frozenbeernuts 1,652]

8 hours ago, WhiteWonder said:

meme stocks also have massive bases of die hard supporters who want to earn money... they want to earn US Dollars on their investment, which is  what bitcoin investors want as well, unless, as many other posters used to claim, you think it's going to replace fiat.... in which case you should never care what your BTC is worth in USD  (i'm not saying you do. maybe your end game is to accumulate as much as possible for a shift in wealth when bitcoin replaces fiat ) Although the belief that governments will ever let a decentralized currency replace fiat is laughable. 

its an investment, just like a stock is. 

what i generally see in here are bitcoin diehards just parroting over and over again that no one else understands bitcoin while never being willing to admit their stake in it is just like any other investment, stocks included. 

shares of Apple are never replacing the US Dollar. Bitcoin is never replacing the US Dollar (at least not in its current form). Buying digital coins is not that far off from buying shares of a company. Yes, bitcoin has additional utility but are YOU making use of that utility? 

can you explain the above a little further?  it kind of sounds like a string of financial buzz terms. What exactly is the 'economic boon' of mining? Or did you mean boom? I've never really viewed bitcoin mining as much of a boon since it is expensive and not energy efficient at all. 

Bitcoin mining is one of the most lucrative businesses and fastest growing industries in the world. Exon Mobil is into bitcoin mining while they use the flare gas from one of their sites to power their miners. They are also talking about expanding around the world. 

There are a ton of podcasts and articles thar explain why bitcoin mining is not bad for the environment like some believe. It also promotes the development of more efficient energy usage. The cheaper the energy the more they pocket. So free energy, lime solar, could make them the most money when the tech becomes good enough to support a mining operation. Which it already does to some degree.

I want bitcoin to go up in value, which increases my net worth. Of course I want this. I would never mention price at all if this didn't matter to me. Eventually the world may price things in bitcoin, which would eliminate the need to compare it in dollar terms. We are a ways off from that, so what else am I going to compare it to?

 

Finally, I spend a lot of time researching bitcoin. Every single day I read articles and listen to bitcoin specific podcasts. The amount of time I have spend studying it in one year is kind of ridiculous. No one else who is talking in this thread, maybe cdub, has put anywhere close to the same amount of time. I just dismantled everything nobody posted pretty easily

I'm not a literal bitcoin expert, I have a ways to go on that if I ever get there, but I do know a lot more than almost anyone here. It's like if I tried debating car stuff with someone who spends their time studying them. I would come off sounding like an ignorant ass if I acted like I actually knew what I was talking about when I haven't spent much time at all studying cars

[vomit 502]

9 hours ago, Frozenbeernuts said:

Its actually the opposite

1. I don't know exactly how bitcoin will fit into the monetary system of the world. What it's role will exactly be. I know that the dollar is screwed as far as trust. The US put the final nail in that trust when they pulled Russias dollar reserves. It's why a trust less system works, because no one trusts anyone else to run the system. As they shouldn't be. Bitcoin will for sure be a preferred reserve asset and it may be the financial rails that the world runs on.

2. This point alone means any opinion you have on bitcoin is null and void. If you don't know the simple fact that bitcoin is a revolution in swapping between currencies then you need to start from the most basic of basics on bitcoin learning. You also don't understand that you can't just send money across the world. Especially large sums. The intermediaries want their fees.

3. What the hell does this even mean? I am pointing out how rare it is. This isn't a stock. How basic do we need to get here? Did you think bitcoin was a stock? If you did... refer to my basics comment. Bitcoin has a hard cap that cannot be changed. Not without a massive battle and a hard fork. If I was telling people here to buy into oil because I had found out there was a limited quantity, say 21 million barrels left in the earth total, you wouldn't be accusing me of stock split tactics. Jfc

4. It can't scale? That's what the second layer is for. Another person ignoring that bitcoin doesn't only operate on the base layer, and it has been like this for YEARS. If the old system was still so great, why does it take days for final settlement of dollars? Why aren't transactions processed on the weekend? Why does my bank start asking questions when I move thousands of dollars around? Why can I only take so much of my money out of the bank at once? Why will I be charged a 10% fee for sending money across the world? A large fee for swapping between currencies?

 

1. Who cares why I'm right? I'm right. I actually believe I'm in it for the right reasons. I believe in the permissionless and censorship resistant money that cannot have its rules manipulated or changed.

 

2. I will sell some at some point, but I will never sell all of it. Why would I sell all of it when I believe it's going to go up indefinitely for the rest of my life? If something changes then I will change, but until then I plan on keeping most of it and using it as collateral for loans. Also there will most likely never be a digital currency that surpasses bitcoin. I am not even going to attempt to explain this one. You will either figure it out on your own, or you will spend the rest of your life just waiting for that new awesome currency to appear that somehow  beats bitcoin even though bitcoin has been proven and has a massive head start.

3. Bitcoin is not a stock. It has rules and principals which I think are worth fighting for. It doesn't matter if I want it to go up. I am nothing in the bitcoin grand scheme. It will go up because it has a massive base of die hard supporters that allowed it to survive until the masses understood its importance. I am not here schilling bitcoin hoping everyone in here increases the value of my bitcoin by a few pennies. In the end the economic boon of mining and price appreciation will continue to swallow up capital. People will want to get in because it is economically advantageous.

This might be the dumbest post in this entire thread

[Frozenbeernuts 1,652]

2 minutes ago, vomit said:

This might be the dumbest post in this entire thread

Ok. Enjoy talking out of your ass about bitcoin. Remember to give a shout out when it's finally irrefutable when I am right

Instead of talking about the cool shlt bitcoin offers, most of the people in here bicker about bull shlt that is incorrect or doesn't matter.

[Frozenbeernuts 1,652]

Joe the super poster goes to car forum. Talks out of his ass after going 0 research. Gets owned. And then is too ignorant to even realize he got owned. That's what is happening here