Bitcoin....who's gotten into it?

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Originally Posted by byates1

Quite possible. Heading into uncharted waters w tradfi vacuuming up BTC and supply getting.cut in half next month.

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“Tradfi” can and will hedge their holdings with derivatives driving the price down so they sell it to mooches.

Tradfi bought Twitter debt too.

So it goes

Still no actual problem that the ledger solves.

Let’s build a “currency” around the parking cone in front of my apt that my dog pissed on earlier. Wash it off, collect signatures on it. People can sign it. Like baseball player autographs. And I will sell ownership interests in this piss cone. As the number of signatures increases- send it around the world- valuation goes up. I make up the valuation. Because it’s my (dog’s) piss cone. My valuation. But at some point I stop selling ownership interest and the existing just trade on their own (priced in an actual currency. Like US dollars).

Now some of you may say this is a stupid idea, why would anyone pay for a share of a parking cone? What the fuck? What do the signatures have to do with it? Arbitrary valuation expectations? On a parking cone?

At least the cone has some sort of use in the existing, actual world- besides a piss collector it’s also a space saver. Which is 2 more uses than that stupid fucking ledger that does nothing.

Also: I bought btc in 2015 and again in 2016. I’m doing ok. But it’s all horseshit.

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Originally Posted by Brock Landers

Still no actual problem that the ledger solves.

Let’s build a “currency” around the parking cone in front of my apt that my dog pissed on earlier. Wash it off, collect signatures on it. People can sign it. Like baseball player autographs. And I will sell ownership interests in this piss cone. As the number of signatures increases- send it around the world- valuation goes up. I make up the valuation. Because it’s my (dog’s) piss cone. My valuation. But at some point I stop selling ownership interest and the existing just trade on their own (priced in an actual currency. Like US dollars).

Now some of you may say this is a stupid idea, why would anyone pay for a share of a parking cone? What the fuck? What do the signatures have to do with it? Arbitrary valuation expectations? On a parking cone?

At least the cone has some sort of use in the existing, actual world- besides a piss collector it’s also a space saver. Which is 2 more uses than that stupid fucking ledger that does nothing.

Also: I bought btc in 2015 and again in 2016. I’m doing ok. But it’s all horseshit.

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So you’re saying you missed Bitcoin.

No…wait….

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But it’s all horseshit.

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In essence, we are all hitching our wagon to one purveyor of horseshit on an other. We chose the one the stinks least, to us. But its all horseshit.

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Originally Posted by Foggy_Goggles

In essence, we are all hitching our wagon to one purveyor of horseshit on an other. We chose the one the stinks least, to us. But it’s all horseshit.

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What does that mean? Like, Madoff’s investment firm was a Ponzi, unlike the S&P 500. There may be issues with all of it, but there are clear distinctions as well.

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Originally Posted by Foggy_Goggles

In essence, we are all hitching our wagon to one purveyor of horseshit on an other. We chose the one the stinks least, to us. But its all horseshit.

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Is horseshit a security or a commodity?

Attachment 489518

Bitcoin's first $10k candle yesterday. Red one, hahahaha.

$1.13B in leverage liquidated yesterday. Degens.

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Originally Posted by Foggy_Goggles

In essence, we are all hitching our wagon to one purveyor of horseshit on an other. We chose the one the stinks least, to us. But its all horseshit.

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https://y.yarn.co/fee0045c-0d94-4cf2...7a0d6_text.gif

avatar checks out

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Originally Posted by shera

$1.13B in leverage liquidated yesterday. Degens.

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Comfy in spot. :)

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Originally Posted by shera

$1.13B in leverage liquidated yesterday. Degens.

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Probably nothing.

Aaaaggh, you're not even saying it right...it's for when it's maybe something. :rolleyes: :D

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Originally Posted by stalefish3169

Comfy in spot. :)

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That Celsius stuff scarred me for life. Anytime I hear any stupid new ideas other than hodl, I feel my blood pressure going up.

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Originally Posted by shera

Aaaaggh, you're not even saying it right...it's for when it's maybe something. :rolleyes: :D

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lol

“maybe” being the hedged bet of the never-wrong lolz

two thirds of the liquidations were longs and one third were shorts - they were all wrong. the house always wins

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Originally Posted by Brock Landers

Still no actual problem that the ledger solves.

Let’s build a “currency” around the parking cone in front of my apt that my dog pissed on earlier. Wash it off, collect signatures on it. People can sign it. Like baseball player autographs. And I will sell ownership interests in this piss cone. As the number of signatures increases- send it around the world- valuation goes up. I make up the valuation. Because it’s my (dog’s) piss cone. My valuation. But at some point I stop selling ownership interest and the existing just trade on their own (priced in an actual currency. Like US dollars).

Now some of you may say this is a stupid idea, why would anyone pay for a share of a parking cone? What the fuck? What do the signatures have to do with it? Arbitrary valuation expectations? On a parking cone?

At least the cone has some sort of use in the existing, actual world- besides a piss collector it’s also a space saver. Which is 2 more uses than that stupid fucking ledger that does nothing.

Also: I bought btc in 2015 and again in 2016. I’m doing ok. But it’s all horseshit.

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I think you can argue this is a problem that Bitcoin might solve.

https://twitter.com/HHorsley/status/...46ieEuKDw&s=19

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Originally Posted by stalefish3169

I think you can argue this is a problem that Bitcoin might solve.

https://twitter.com/HHorsley/status/...46ieEuKDw&s=19

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Or they could have held that in dollars! Or any other currency! Or Meta stock! Or property in San Diego!

The poor people struggling to make ends meet should put their extra money into crypto.

But only like 10% of all that extra money they have laying around - like only what they can afford to lose as per the advice.

So….none?

Sounds life changing.

But this is where I’ll be told I must have no sympathy for poor people with that kinda take. Some moral grandstanding I expect.

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Originally Posted by bennymac

The poor people struggling to make ends meet should put their extra money into crypto.

But only like 10% of all that extra money they have laying around - like only what they can afford to lose as per the advice.

So….none?

Sounds life changing.

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You’re missing the bigger picture. I think he’s saying if they had bought BTC instead of food, the resulting deaths would have taken care of the excess population growth in Egypt that caused the supply/demand imbalance that drove the inflation/ currency crash.

Edit: Bonus that the deaths would have led to lost keys/lower BTC supply, also raising the price of BTC! Win/win!

Median individual net worth in Egypt in 2022 was ~$6600 USD. How much of that do you figure is cash/investments, and what share of that cash should have been poured into Bitcoin?

Or is the suggestion that the 0.1 percenters in Egypt could have preserved their wealth with Bitcoin?

Start selling those pyramids. Noone knows how the fuck they were made anyway

The blocks were moved there by people in chains…wait a minute…