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Originally posted by Zaphod
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please explain further -
USD represents us government, its interests and is backed by its military if need be, ie, "full faith and credit". Its the same reason stablecoins and Libra are/were considered a problem. Control the money/supply/etc...and you're in control.Originally posted by jacoavlu View Post
Govt has already allowed btc too much leeway and Im sure they recognize it now, they wont allow it to go all the way.Comment
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cats out of the bagOriginally posted by Zaphod View Post
is this enforcement something you’re in favor of?
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Agree with Napolean. If BTC fulfills its promise, it will become the global reserve currency. It's the soundest/hardest money ever created. The days of the American petrodollar are numbered.
BTC and crypto are mainstream now - over 20% of the population in the USA owns some. IMO, BTC has already replaced gold as a store of value--it's just not priced in yet. Ask anybody born after 1975 if they will buy gold or Bitcoin and the percentage will just grow as you go from Gen X to Millenials to Gen Z. Ignoring this asset class is to your own detriment. At some point in the not-so-distant future, everybody here will own BTC whether it's spot or spot ETF (when that comes out). Indirectly, 99% of people here own BTC via S&P 500 (TSLA holds many). Adoption in increasing. If you haven't been paying attention, maybe it's time you should -- and you will see that the Miami heat play in FTX arena, the 76ers jersey sponsor is cyrpto.com, etc.
I understand why people think it's a bubble or see it just as a lucky trade -- it's a function of the mainstream media (CNBC/Bloomberg) that survives on the fiat system that has been in place and successful for centuries. Also, there has been so much FUD about BTC, that the average person is programmed to hate it. I know many people see BTC fans as crypto bros, casino gamblers/speculators, or idiots who have no idea what they are doing. This couldn't be further from the truth. Like most here, I am risk averse and very careful about my investments. I encourage you do to the homework and come to your own conclusions -- I have spent 1000s of hours researching the topic and it has only strengthened my belief about BTC. I couldn't be more bullish.Comment
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Not before I exit positions ofc. I just think it will trend toward some kind of inevitability.Originally posted by jacoavlu View PostComment
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positions be damned. we shouldn’t have to impose our currency dominance through violenceOriginally posted by Zaphod View Post
the moat around bitcoin is growing wider and wider. i’m not sure what inevitability you think will come. like i said, cats out of the bagComment
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It is definitely out of the bag, which makes the whole bit very very interesting to say the least.Originally posted by jacoavlu View PostComment
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What will be interesting is the next crash or major pull back in the market to watch bitcoin price. i'd like to see it prosper while sp 500 goes down consistently before I deem it as the new gold. i'd put my self in the waiting on the sidelines to get in.
For me honestly the biggest reason i'm not fully in is so many people telling me to get in.
While I may not agree with buffets take on crypto i do like his saying: "fearful when others are greedy, and greedy when others are fearful."
In a perfect world the crpyto market crashes with the stock market at some point. This includes bitcoin. Then bitcoin rebounds while many of the other currencies don't. this would be a great time to get in for me. I'm ok with living with the fact I missed out on bitcoin though...Comment
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I think it's important to consider how much these people have invested in crypto. My guess is that those who are talking about it at work, MAs, techs, RNs, etc., probably only have hundreds to maybe a few thousand dollars invested in this. They aren't the big players.Originally posted by Otolith View PostComment
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in crash situations correlation of everything tends toward 1Originally posted by Otolith View Post
go look at march 2020. stocks, bonds, gold, bitcoin, everything went down. next time will likely be the same
timing doesn’t often work. bitcoin just recently sold off over 50% and spent two months under 40k now it’s back up near price discovery territory.
if you were waiting for a buy opportunity, why not then ?
according to buffett now would be a time to be fearful. but he also says bonds are a horrible investment and last year when there seemed to be “blood in the streets” he sat on his hands
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Poll: who will win the proof of stake design challenge?
1) ETH 2.0: transition will go smoothly.
2) ADA: methodical research will pay off.
3) SOL: proof of history is needed.
4) DOT: parachains make sense.
5) BTC: proof of work still works.
6) USD: love my printed dollars.
Need more deep conversations on topics like this...Comment
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there is a separate shitcoin threadComment
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I thought multiple crypto threads were not allowed. I'm guessing you voted #5 BTC...Originally posted by jacoavlu View PostComment
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Originally posted by docnews View Post
Bitcoin would be a nonsensical answer to the question you’re askingComment
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