Maher on Bitcoin

[wiffleball 4,648]

Enron redux

[wiffleball 4,648]

https://youtu.be/HaJpYjO136o

[Mookz 1,287]

Mark my words, that "take" is either going to age well or not so well.  Possibly somewhere in between, but it is going to happen.  

[Cdub100 3,384]

Boomers doesn't know what he's talking about and fully admits it.

[tubby_mcgee 686]

Wow. That was good stuff.  

Maybe because I agree with it.  

The Bitcoin folks. .. when asked to explain are always like "but ...but. . blockchain... and Tesla and mining and gold and ...." 

 

[Cdub100 3,384]

1 hour ago, tubby_mcgee said:

Wow. That was good stuff.  

Maybe because I agree with it.  

The Bitcoin folks. .. when asked to explain are always like "but ...but. . blockchain... and Tesla and mining and gold and ...." 

 

 

[Kopy 493]

I really hope this stuff ends up legit. If not, the suicide rate could exceed that of the great depression days.

I got a buddy who over the last couple of years has thrown every cent he has into this industry. All I ever hear about is how much money he's making. I hope he gets to physically hold it someday. 

[tubby_mcgee 686]

8 hours ago, Kopy said:

I really hope this stuff ends up legit. If not, the suicide rate could exceed that of the great depression days.

I got a buddy who over the last couple of years has thrown every cent he has into this industry. All I ever hear about is how much money he's making. I hope he gets to physically hold it someday. 

So many people are putting in their everything to buy bitcoin and other cryptos. I know a local guy, said he pulled everything from his retirement, paid the fees, etc. and put it all in bitcoin. 

Said he's "tired of working" and the gains from this (cryptos) are making him not have to work.

Couple things.

1.) Bitcoin will crash.

2.) By then many will make great money and they will say "How can you doubt it? I've made tons of money"

3.) many will lose money. (The last ones in).

 

[Hardcore troubadour 12,667]

Archegos

[TimHauck 1,804]

21 hours ago, Cdub100 said:

Boomers doesn't know what he's talking about and fully admits it.

I don’t know anything about Bitcoin other than what Ben Askren says about it on a wrestling podcast, but had never heard that bit about how much electricity it uses.  Is that not a concern?

[Cdub100 3,384]

1 hour ago, TimHauck said:

I don’t know anything about Bitcoin other than what Ben Askren says about it on a wrestling podcast, but had never heard that bit about how much electricity it uses.  Is that not a concern?

There are banks on pretty much every corner, ATMs in every store, gas station, bar, restaurant... Huge banking and financing corporations all over the world with offices in every small-major city. The NASDAQ, NYSE, Singapore etc... All of these places have AC, Heat, lights, computers, coffee machines... And the thousands of other examples that all use electricity. Is that not a concern?

I can tell you've never thought of it before. So the REAL question is WHY haven't you thought of that before? Is it something to be actually concerned about? Have you considered you're being manipulated?

Major bitcoin miners are primarily located in the cheapest area when it comes to electricity in the world. They are often located near renewable energy sources. As it turns out the best places for renewable energy are usually not places people want to live. So sure bitcoin uses a lot of power, but miners seak the cheapest sources and sometimes the most environmentally friendly locations. I can tell you for a fact, electricity is in the top three of concerns for a miners, because it's often their #1 cost

[TimHauck 1,804]

43 minutes ago, Cdub100 said:

There are banks on pretty much every corner, ATMs in every store, gas station, bar, restaurant... Huge banking and financing corporations all over the world with offices in every small-major city. The NASDAQ, NYSE, Singapore etc... All of these places have AC, Heat, lights, computers, coffee machines... And the thousands of other examples that all use electricity. Is that not a concern?

I can tell you've never thought of it before. So the REAL question is WHY haven't you thought of that before? Is it something to be actually concerned about? Have you considered you're being manipulated?

Major bitcoin miners are primarily located in the cheapest area when it comes to electricity in the world. They are often located near renewable energy sources. As it turns out the best places for renewable energy are usually not places people want to live. So sure bitcoin uses a lot of power, but miners seak the cheapest sources and sometimes the most environmentally friendly locations. I can tell you for a fact, electricity is in the top three of concerns for a miners, because it's often their #1 cost

Got it, I think your last sentence basically answers my question, thanks.

I don’t know if I’ve thought specifically about the electricity that banks use that much, but I have definitely thought about how with online banking we probably have way too many bank branches.  But at least those result in people having jobs (again, no clue how many jobs bitcoin has created, particularly in the US).

This guy for example thinks the mining should be regulated, but I guess that would kinda defeat the purpose of cryptocurrency right?https://www.washingtonpost.com/opinions/2021/02/18/bitcoin-emissions-pollution-tesla/  

 

[Cdub100 3,384]

47 minutes ago, TimHauck said:

Got it, I think your last sentence basically answers my question, thanks.

I don’t know if I’ve thought specifically about the electricity that banks use that much, but I have definitely thought about how with online banking we probably have way too many bank branches.  But at least those result in people having jobs (again, no clue how many jobs bitcoin has created, particularly in the US).

This guy for example thinks the mining should be regulated, but I guess that would kinda defeat the purpose of cryptocurrency right?https://www.washingtonpost.com/opinions/2021/02/18/bitcoin-emissions-pollution-tesla/  

 

I put the rest in specifically for you. You seem to implicitly trust what the media tells you. You of all people should start questioning whether you're being manipulated. 

[TimHauck 1,804]

1 minute ago, Cdub100 said:

I put the rest in specifically for you. You seem to implicitly trust what the media tells you. You of all people should start questioning whether you're being manipulated. 

So to clarify, you think I’m being manipulated because I haven’t thought much specifically about banks using electricity?

[Cdub100 3,384]

13 minutes ago, TimHauck said:

So to clarify, you think I’m being manipulated because I haven’t thought much specifically about banks using electricity?

Because the media say bitcoin bad and you come in here with your leading questions without actually thinking about it. You do the same thing in the COVID threads.

So yes you're being manipulated. You don't actually think about what you're being told and accept it as truth.

Is that not a concern to you?

[TimHauck 1,804]

10 minutes ago, Cdub100 said:

Because the media say bitcoin bad and you come in here with your leading questions without actually thinking about it. You do the same thing in the COVID threads.

So yes you're being manipulated. You don't actually think about what you're being told and accept it as truth.

Is that not a concern to you?

Lol it wasn’t a leading question.  It was an honest question, particularly for those that think things like bitcoin is going to be the world’s currency in the future and such.

I don’t think bitcoin is bad.  Never really had an opinion on it honestly.  If anything I feel like I need to get it on it soon.

[Cdub100 3,384]

1 minute ago, TimHauck said:

Lol it wasn’t a leading question.  It was an honest question, particularly for those that think things like bitcoin is going to be the world’s currency in the future and such.

I don’t think bitcoin is bad.  Never really had an opinion on it honestly.  If anything I feel like I need to get it on it soon.

It's not and you shouldn't lesson them those people either. The world governments will never let that happen. Bitcoin is digital gold. It will never be an everyday currency. 

[Frozenbeernuts 1,652]

Let's not forget the mother of all Boomers, Charlie Munger

‘Of course, I hate the bitcoin success and I don’t welcome a currency that’s useful to kidnappers and extortionists, and so forth.

https://www.google.com/amp/s/www.marketwatch.com/amp/story/charlie-munger-says-bitcoins-rise-disgusting-and-contrary-to-interests-of-civilization-11619978483

 

Really!? Wow, I didn't know that kidnappers and extortionists were basically invented by bitcoin. What a completely ignorant thing to say. Its really sad to such a brilliant mind go soft at his age

Bitcoin forced banks to develop digital currencies. Which of course will be even more susceptible to manipulation.

I won't even ask the question At what point will you finally admit bitcoin is here to stay, because I know the nocoiners in here will never do it. Even if it was worth more than $1M/coin, we all know the same people will be sitting there talking about how the bubble is going to burst.

 

[Frozenbeernuts 1,652]

I asked a few guys at work. Would you invest in bitcoin right now if I could 100% guarantee it would reach $1M within 5 years. The answer was unanimously No.

[Cdub100 3,384]

34 minutes ago, Frozenbeernuts said:

Let's not forget the mother of all Boomers, Charlie Munger

‘Of course, I hate the bitcoin success and I don’t welcome a currency that’s useful to kidnappers and extortionists, and so forth.

https://www.google.com/amp/s/www.marketwatch.com/amp/story/charlie-munger-says-bitcoins-rise-disgusting-and-contrary-to-interests-of-civilization-11619978483

 

Really!? Wow, I didn't know that kidnappers and extortionists were basically invented by bitcoin. What a completely ignorant thing to say. Its really sad to such a brilliant mind go soft at his age

Bitcoin forced banks to develop digital currencies. Which of course will be even more susceptible to manipulation.

I won't even ask the question At what point will you finally admit bitcoin is here to stay, because I know the nocoiners in here will never do it. Even if it was worth more than $1M/coin, we all know the same people will be sitting there talking about how the bubble is going to burst.

 

That whole criminals use it is such a played out cliche. USD is used in far more activities. The criminals who do use Bitcoin are stupid because the blockchain is a public ledger everything can be tracked easily. You know what can't be tracked a suitcase full of dollars unless you have every single serial number of those dollars which of course the CIA does often when they fund terrorists but regardless. If you're a criminal and you get paid in Bitcoin you're moron which is probably why you're a criminal

[Cdub100 3,384]

35 minutes ago, Frozenbeernuts said:

I asked a few guys at work. Would you invest in bitcoin right now if I could 100% guarantee it would reach $1M within 5 years. The answer was unanimously No.

Seriously? I mean obviously nobody can guarantee anything but in your hypothetical they still say no?

No offense but are you like in a special needs work program? Because those mfers are retarded

[edjr 5,570]

It's going to 1 MEELION per coin

[EternalShinyAndChrome 2,533]

I agree with Maher on this one.

And, as a gamer, I'm especially hateful of it.

[Frozenbeernuts 1,652]

1 hour ago, Cdub100 said:

Seriously? I mean obviously nobody can guarantee anything but in your hypothetical they still say no?

No offense but are you like in a special needs work program? Because those mfers are retarded

I am a pipefitter. There are some guys who are good at investing. I know a few who personally have bitcoin. But there are always people like them. They are clueless about investing and would rather just not bother with it

[Bert 1,092]

On 5/1/2021 at 11:54 AM, Cdub100 said:

 

Okay I watched your video.  It is a speculative currency investment like any other currency investment.  Good luck I hope it works out for you.

[Cdub100 3,384]

11 minutes ago, Bert said:

Okay I watched your video.  It is a speculative currency investment like any other currency investment.  Good luck I hope it works out for you.

I look at it as a technology that is completely changing the financial system. It's the now and future. Someday, everything will be on blockchains. Stocks, music, movies, books, the deed to your house, logistic tracking, and even fiat currency.

People who only look at crypto as a speculative currency investment are missing the bigger picture. It's like looking at the internet in the 90s as only sending an email.

But thank you I hope it works out for me too.

[Bert 1,092]

4 hours ago, Cdub100 said:

I look at it as a technology that is completely changing the financial system. It's the now and future. Someday, everything will be on blockchains. Stocks, music, movies, books, the deed to your house, logistic tracking, and even fiat currency.

People who only look at crypto as a speculative currency investment are missing the bigger picture. It's like looking at the internet in the 90s as only sending an email.

But thank you I hope it works out for me too.

I'm not arguing blockchain technology it will impact most things in our life in the future.  Bitcoin uses blockchain technology it is not blockchain technology.  There are already other cryptocurrencies that will complete with Bitcoin in the future.  Blockchain technology is the comparison to the internet not Bitcoin.  The Bitcoin comparison from the 90s would be AOL. 

[Hardcore troubadour 12,667]

In 2003 Maher said there was no way a pandemic from Asia would affect the untied states. Doh! 

[Cdub100 3,384]

14 minutes ago, Bert said:

I'm not arguing blockchain technology it will impact most things in our life in the future.  Bitcoin uses blockchain technology it is not blockchain technology.  There are already other cryptocurrencies that will complete with Bitcoin in the future.  Blockchain technology is the comparison to the internet not Bitcoin.  The Bitcoin comparison from the 90s would be AOL. 

There have been other cryptos that compete with bitcoin for a very long time and each one has fallen by the wayside. Bitcoin has won. It's not going away. Governments, Institutions, and the public have decided.

[TimHauck 1,804]

4 hours ago, Cdub100 said:

I look at it as a technology that is completely changing the financial system. It's the now and future. Someday, everything will be on blockchains. Stocks, music, movies, books, the deed to your house, logistic tracking, and even fiat currency.

People who only look at crypto as a speculative currency investment are missing the bigger picture. It's like looking at the internet in the 90s as only sending an email.

But thank you I hope it works out for me too.

Didn't you just say earlier that Bitcoin will basically be like gold?   Did gold change the financial system?

[Bert 1,092]

21 minutes ago, Cdub100 said:

There have been other cryptos that compete with bitcoin for a very long time and each one has fallen by the wayside. Bitcoin has won. It's not going away. Governments, Institutions, and the public have decided.

And that is exactly what AOL thought.

[wiffleball 4,648]

I was looking pretty heavily into getting into cryptocurrency.

 

But my parole officer says I can't be around miners.

[Cdub100 3,384]

55 minutes ago, Bert said:

And that is exactly what AOL thought.

AOL is/was one company. Bitcoin is made up of millions of people who all have a stake in it's success. I don't think your analogy hits the spot.

Either way I get why people don't like Bitcoin. And that's cool, but that doesn't change the decade long trend of it being the best investment ever.

[wiffleball 4,648]

The me too movement, in announcing their attempt to break into the 'boys club' mentality of cryptocurrency have announced their own cryptocurrency:

 

Bitchcoin