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

[bennymac]

Early you say? Does Byates wake you up when he's leaving your wife's room in the morning?

First off, I never shilled FTX. I said Sam made a legendary call on Solana, which was actually true. Gotta give credit where it's due. https://twitter.com/SBF_FTX/status/1...fAqrL_aOA&s=19

Secondly, I could never even use FTX as a US citizen which corroborates my freedom comment that you kooks can't seem to wrap your head around. Sure there was FTX US, but it had a small fraction of what was on FTX, just like Binance. I actually had a Binance account for a while before being forced to close it a few years ago due to being a US citizen.

Third, my winners win comment was about TB12, not SBF. I mistakenly trusted that many powerful people, including high-ranking US government officials, who I have no connection to did their due diligence on FTX/SBF, as did countless others. I'm also calling bullshit that you called the FTX downfall before it happened. Everyone here seems to have "called it" after the fact.

Me posting a meme coin price chart? Shilling in your mind.

You fluffing FTX and its founder and the celebs hyping it across multiple posts? Not shilling.

Ok sure thing man. Real consistent. No hypocrisy there.

And we will add women hating misogyny to the personality traits of the TGR cryptocult bros. Stay classy assholes.

[stalefish3169]

lol, talk about sad clown cope. Previous runnups had actual narratives driving them. 2017 it was the future of money. 2021 was all about DeFi. This time it's all about speculation and having some fun.

As for your false narrative about Zoomers and Millennials that's been debunked many, many times in this thread. Millennials and Gen Zers are much wealthier now than the previous generation was at their age. And their wealth is growing faster due to higher incomes, not because of crypto. The average net worth of both these groups is the highest it has ever been:

https://economistwritingeveryday.com...an-we-thought/

This analysis is laughably bad. Dude manipulates the hell out of the data to fit his narrative. He uses log scale in a shady way, lumps millennials and Zoomers together, and uses the mean instead of the median when it suits him.

You guys tried to clown on me for posting about the youth and their Bitcoin club at Cornell and have the gall to non-ironically post some cherry picked blog post from an associate prof at...wait for it...the University of Central Arkansas.

There are about 100 articles saying the same thing as this for every one your boy Jeremy cooks up. https://www.washingtonpost.com/busin...cession-covid/

Just log off. Put on some Saylor YouTube videos while you fall asleep and maybe you'll wake up with a clue.

[stalefish3169]

Me posting a meme coin price chart? Shilling in your mind.

You fluffing FTX and its founder and the celebs hyping it across multiple posts? Not shilling.

Ok sure thing man. Real consistent. No hypocrisy there.

And we will add women hating misogyny to the personality traits of the TGR cryptocult bros. Stay classy assholes.

You literally have hundreds (thousands?) of posts shitting on crypto, but you invest in it and don't see any thing strange about incessantly playing the hypocrite card??? Interesting.

Also, I'm def not a misogynist or woman hater. I was raised by a single mom and do a ton to support women in my personal life. I can't speak for byates, but don't conflate me and him together just because your wife has a crush on him.

[bennymac]

You literally have hundreds (thousands?) of posts shitting on crypto, but you invest in it and don't see any thing strange about incessantly playing the hypocrite card??? Interesting.

Also, I'm def not a misogynist or woman hater. I was raised by a single mom and do a ton to support women in my personal life. I can't speak for byates, but don't conflate me and him together just because your wife has a crush on him.

JFC way to be a hypocrite in a post where you try to deny you’re a hypocrite. Asshole. Your mom would be proud.

You recommend people hold 10-20% invested in crypto - so the rest is in other vehicles. Please explain why those other equities have to only be in investments that one maintains a cult like devotion to. Cant hold META unless you think that social media is only healthy and saving the world. You and your hype-boy have faced this conundrum many times in this thread and all you’ve come up with is “line goes up”.

Meanwhile Byates says gold mining is an ecological disaster but that everyone should own physical gold.

You idiots keep tripping over your own hypocrisy.
Probably nothing.

[stalefish3169]

JFC way to be a hypocrite in a post where you try to deny you’re a hypocrite. Asshole. Your mom would be proud.

You recommend people hold 10-20% invested in crypto - so the rest is in other vehicles. Please explain why those other equities have to only be in investments that one maintains a cult like devotion to. Cant hold META unless you think that social media is only healthy and saving the world. You and your hype-boy have faced this conundrum many times in this thread and all you’ve come up with is “line goes up”.

Meanwhile Byates says gold mining is an ecological disaster but that everyone should own physical gold.

You idiots keep tripping over your own hypocrisy.
Probably nothing.

Please get off your high horse. You take every opportunity you can to disparage children in developing nations.

[bennymac]

Don’t hurt your back pivoting so aggressively.

Me saying crypto won’t save third world children is not disparaging them. You pretending your desire for profits is on moral high ground based on faulty reasoning about saving these kids is transparent and pathetic. And disparaging. You’re exploiting their suffering.

But why no explanation for meme coin price chart is shilling but you fluffing FTX isn’t?

But why no explanation for how someone can hold tradfi investments and not have cult like devotion to them?

What are you afraid of?

We’re waiting. Try not to pivot to something else like aircraft carrier fuel consumption or hate fucking other mags wives - you guys are showing your true asshole colors. Probably no coming back from this. Vibes.

[stalefish3169]

Don’t hurt your back pivoting so aggressively.

Me saying crypto won’t save third world children is not disparaging them. You pretending your desire for profits is on moral high ground based on faulty reasoning about saving these kids is transparent and pathetic. And disparaging.

But why no explanation for meme coin price chart is shilling but you fluffing FTX isn’t?

But why no explanation for how someone can hold tradfi investments and not have cult like devotion to them?

What are you afraid of?

Were waiting. Try not to pivot to something else like aircraft carriers or hate fucking other mags wives - you guys are showing your true asshole colors. Probably no coming back from this. Vibes.

Like I've said over and over and over, I never shilled FTX. You act like I was on the fucking take or something. I made a post that was related to SOL at a time when SBF was perceived as a legit entrepreneur by the overwhelming majority of people. Nobody fucking cares but you.

Did you forget this is The Bitcoin Thread? It's the place to share our love and devotion for Bitcoin. Sorry that you're unable to grok that.

I never said anything about hate fucking anyone's wife man. That's between you, byates, and your wife.

[bennymac]

JFC you are dense.

*You* called me posting a meme coin price chart ”shilling”. I know, I know it sounds impossible that someone could respond in such a pathetic manner but you did.

How many times do you have to read that before it sinks in?

Now explain how that was shilling but later on your multiple posts about FTX weren’t. It’s by your own definition.

Once you tackle this we can move on to my other question you also keep being a total hypocrite about.

Or you can run away again, hide behind “this is the BTC thread” instead of backing up your bullshit, and keep being a hypocrite talking about other mags wives. Own your behavior asshole.

[stalefish3169]

JFC you are dense.

*You* called me posting a meme coin price chart ”shilling”. I know, I know it sounds impossible that someone could respond in such a pathetic manner but you did.

How many times do you have to read that before it sinks in?

Now explain how that was shilling but later on your multiple posts about FTX weren’t. It’s by your own definition.

Once you tackle this we can move on to my other question you also keep being a total hypocrite about.

Or you can run away again, hide behind “this is the BTC thread” instead of backing up your bullshit, and keep being a hypocrite talking about other mags wives. Own your behavior asshole.

You think I want to hide? Seriously?

Go back and read my posts from Dec. 2018 and Nov. 2022 and tell me again how I want to hide. Then go to r/buttcoin and whine there.

[bennymac]

You’re literally avoiding my questions in a post where you claim you’re not hiding [emoji23]

Just like earlier when you were being a hypocrite in a post where you were denying you were a hypocrite.

You’re clearly gonna keep playing this pivot and avoid game. It’s obvious to everyone why that is. So I’ll give up and be the better man and let you have the last word tonight.

But kudos for leaving mags wives out of your latest post. You’re both still assholes. “I’m just here to help mags!” - yeah you and Byates bringing up other mags wives - way to make it inclusive you fucking misogynistic assholes. I would never bring up your wives/husbands/girlfriends/windowless vans.

But weaklings will lash out like that when they have no other good defense.

All it took was some pushback against your hypocrisy and your true colors came out - both of you. Shameful.

[stalefish3169]

You’re literally avoiding my questions in a post where you claim you’re not hiding [emoji23]

Just like earlier when you were being a hypocrite in a post where you were denying you were a hypocrite.

You’re clearly gonna keep playing this pivot and avoid game. It’s obvious to everyone why that is. So I’ll give up and be the better man and let you have the last word tonight.

But kudos for leaving mags wives out of your latest post. You’re both still assholes. “I’m just here to help mags!” - yeah you and Byates bringing up other mags wives - way to make it inclusive you fucking misogynistic assholes. I would never bring up your wives/husbands/girlfriends/windowless vans.

But weaklings will lash out like that when they have no other good defense.

All it took was some pushback against your hypocrisy and your true colors came out - both of you. Shameful.

Dude, I've been called more names than any person in this thread by a long shot all because your 401ks and IRAs are threatened by magic internet money. You've called me an asshole multiple times tonight. You guys have even gone so far as to call me a "shitty person."

I don't give a fuck what you think. Goodnight.

Number go up.

[Foggy_Goggles]

The internet is more fun when ya'll keep it a bit more civil, just saying. It think you guys both say stuff that makes a bit of sense but it a bit hard to wade through. Maybe ask your Mom if they can change your diaper then re-engage.

[MultiVerse]

This analysis is laughably bad. Dude manipulates the hell out of the data to fit his narrative. He uses log scale in a shady way, lumps millennials and Zoomers together, and uses the mean instead of the median when it suits him.

You guys tried to clown on me for posting about the youth and their Bitcoin club at Cornell and have the gall to non-ironically post some cherry picked blog post from an associate prof at...wait for it...the University of Central Arkansas.

There are about 100 articles saying the same thing as this for every one your boy Jeremy cooks up. https://www.washingtonpost.com/busin...cession-covid/

Just log off. Put on some Saylor YouTube videos while you fall asleep and maybe you'll wake up with a clue.

lol, using a 2020 editorial to fit a narrative while ignoring the current data. Log scales are very common for looking at long run growth rates. The data is also adjusted for inflation. Charts are also provided with and without log scale, with and without housing, with and without stocks etc, etc.

All the usual suspects of complainers! Is it adjusted for inflation? What about median? Why a log scale? How much is real estate? How much is stocks? Blah, blah, blah. Face it, the average net worth of both Millennials and Gen Zers today is the highest it has ever been for any generation before it.

[Foggy_Goggles]

Not that it has anything to do with Bitcoin but broadly speaking it seems like the economic situation has declined for many over the coarse of the last couple of decades? Housing, medical, education and other costs appear to have skyrocketed while many of the core living wage job sectors like manufacturing and so on have disappeared.

Perception is reality. That looks like a bit part of cryto's appeal/marketing. "Let me stand on a podium or go on a podcast with my black shirt and jeans and tell you how bad the establishment is fuckin you and we are circling the drain...oh yeah, buy this!"

[stalefish3169]

lol, using a 2020 editorial to fit a narrative while ignoring the current data. Log scales are very common for looking at long run growth rates. The data is also adjusted for inflation. Charts are also provided with and without log scale, with and without housing, with and without stocks etc, etc.

All the usual suspects of complainers! Is it adjusted for inflation? What about median? Why a log scale? How much is real estate? How much is stocks? Blah, blah, blah. Face it, the average net worth of both Millennials and Gen Zers today is the highest it has ever been for any generation before it.

You're completely delusional. Here is a more recent peer-reviewed study.

How do you think the intra-generational wealth gap they mention is getting worse? Hint: It's because of rampant money printing that heavily favors the already rich.

https://www.google.com/amp/s/thehill...nancially/amp/


The study, published in the American Journal of Sociology in September 2023, examined the work and family life trajectories of more than 6,000 boomers and 6,000 millennials in the U.S. It compared how these life decisions impacted their wealth by the time they turned 35.

Researchers from the University of Cambridge in the UK, Humboldt University in Germany, and Sciences Po University in France analyzed data from the National Longitudinal Survey of Youth, a program of the U.S. Bureau of Labor Statistics, for the study.

Here are some of their key findings:

Wealth: Millennials at the 90th percentile of wealth distribution in the U.S. possessed about 20% more wealth than boomers did at 35 ($457,000 vs. $373,000). However, the median millennial had 30% lower wealth than the median boomer at that age ($48,000 vs. $63,100).

Career: Boomers were more likely to land high-status jobs, like lawyers or surgeons. Around 17% of boomers moved into “prestigious” career paths after graduating college, whereas just 7.3% of millennials did so.

Homeownership: About 62% of boomers had become homeowners by 35, contrasting with the 49% homeownership rate among millennials at that age. Additionally, 10% of millennials lived with their parents at 35, compared to only 6% of boomers.

Marriage: Millennials tended to postpone marriage. Approximately 27% of boomers got married and had children earlier, while only 13% of millennials followed a similar path.

Debt: Millennials were also more likely to be in debt: 68% held any kind of debt at 35, compared to 43% of boomers.

Net worth: About 14% of millennials had negative net worth by 35, which means their debts exceeded their assets, compared to only 8.7% of boomers.

Researchers claim the distribution of wealth among millennials is so uneven because the economic rewards for middle and upper-class lifestyles have increased, while those for the working class have either remained the same or declined.

[MultiVerse]

Not that it has anything to do with Bitcoin but broadly speaking it seems like the economic situation has declined for many over the coarse of the last couple of decades? Housing, medical, education and other costs appear to have skyrocketed while many of the core living wage job sectors like manufacturing and so on have disappeared.

Perception is reality. That looks like a bit part of cryto's appeal/marketing. "Let me stand on a podium or go on a podcast with my black shirt and jeans and tell you how bad the establishment is fuckin you and we are circling the drain...oh yeah, buy this!"

Call it the Vibecession which has been going on for a couple of years now. The way Americans work is changing. So real wages are up, the rate of inflation has slowed down, but workers are returning to the office and in the process losing the autonomy of working from home. The job market isn't as tight either so workers are losing some leverage. And so despite the quantitatively positive reality, there's an amorphous feeling of gloom and doom.

You're completely delusional. Here is a more recent peer-reviewed study.

How do you think the intra-generational wealth gap they mention is getting worse? Hint: It's because of rampant money printing that heavily favors the already rich.

No, you're delusional because your own study refutes your conclusion. The study does not say there's a intra-generational wealth gap. The study says, "We find that the poorest millennials have less wealth than their baby boomer counterparts, but the wealthiest millennials have more"

There's been a long trend which started in the 80s of greater returns for knowledge workers. More advanced skills earn a lot more relative to less advanced skills than in the past. So there's increasing wealth inequality among groups while also making the average net worth of both Millennials and Gen Zers greater than it was in the past.

And even though the study was published in 2023, academic journals take a long time to publish so the authors data is outdated. Young adults rode the rising tide of low mortgage rates and a strong job market to buy homes during the pandemic. Current data from Redfin shows Nearly one-third (30%) of 25-year-olds owned their home in 2022. That’s slightly higher than homeownership rates for millennials (28%) and Gen Xers (27%) when they were 25, and slightly lower than the rate for baby boomers (32%) when they were 25.

Younger Americans today are just as likely to own homes as younger Americans of previous generations:

https://www.redfin.com/news/gen-z-mi...ome-purchases/

[J. Barron DeJong]

If your analysis of wealth at a young age between boomers and millenials doesn’t account for this:



Them maybe it’s not a thorough analysis.

BTW, your nihilisms is showing again.

[LeeLau]

Congratulations HODLers

[Foggy_Goggles]

Re: college

Aren't most of those degrees not worth shit and expensive?

There is a difference between hope and opportunity. I feel people have less of the former than before with no data to back it up.

The only perspective I have is my own. Financially, life used to be easier for those that kept it in 2nd gear and walked the straight and narrow. Is that wrong?

Also, nothing to do with Bitcoin specially as the folk I'm talking about don't have and cheddar to invest.

Sent from my Turbo 850 Flatbrimed Highhorse

[MultiVerse]

Yes, it's wrong. The returns for college educated workers is higher, but even lower wage workers are making more now post-pandemic. At the same age homeownership for Gen Z is higher than it was for Millennials which was also higher than Gen X, but not quite as high as it was for boomers. Average home size has roughly doubled too so younger generations are on average living in larger nicer homes than in the past.

[J. Barron DeJong]

https://jabberwocking.com/millennial...st-generation/

[J. Barron DeJong]

Re: college

Aren't most of those degrees not worth shit and expensive?

There is a difference between hope and opportunity. I feel people have less of the former than before with no data to back it up.

The only perspective I have is my own. Financially, life used to be easier for those that kept it in 2nd gear and walked the straight and narrow. Is that wrong?

Also, nothing to do with Bitcoin specially as the folk I'm talking about don't have and cheddar to invest.

Sent from my Turbo 850 Flatbrimed Highhorse

On college graduate wage premium over time:

https://www.motherjones.com/kevin-dr...ium-over-time/

[J. Barron DeJong]

https://www.marketplace.org/2023/09/...homes-already/

[stalefish3169]

No, you're delusional because your own study refutes your conclusion. The study does not say there's a intra-generational wealth gap. The study says, "We find that the poorest millennials have less wealth than their baby boomer counterparts, but the wealthiest millennials have more"

intra-

Dictionary

prefix

(added to adjectives) on the inside; within.

"intramural"


Footnote: This is why I said it's misleading to use mean rather than median in your boy Jeremy's blog post.

[MultiVerse]

Your conclusion still doesn't follow. It's not because of the Fed, it's because of higher returns for above average skillsets. It's not just cognitive, either. People with higher social skills earn a lot more now than in the past. It's also important to point out lower-wage workers have seen historically fast real wage growth in the post-pandemic economy.

Footnote: This is why I said it's misleading to use mean rather than median in your boy Jeremy's blog post.

lol, you're just echoing the comments section. A mean can be defined as an average of the set of values in a sample of data. In other words, an average is also called the arithmetic mean. Jeremy's data covers both average i.e., mean, and median. The net worth of both Gen Z & Millenials is the highest it has ever been both on average and the median.