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

[stalefish3169]

Nice job, JPOW. Way to crash all markets.

Seems like maybe we could use a system where one dude is not allowed to crash everything with a presser.

[J. Barron DeJong]

Nice job, JPOW. Way to crash all markets.

Seems like maybe we could use a system where one dude is not allowed to crash everything with a presser.

Cry Harder loser. Do you want 2% inflation or not?

[byates1]

^ calling a guy who's made bank the last 4 plus yrs a loser while you have sat on the bench. Huh. This is jong econ 101 apparently.

[J. Barron DeJong]

^ calling a guy who's made bank the last 4 plus yrs a loser while you have sat on the bench. Huh. This is jong econ 101 apparently.

My investments are up comfortably, thanks. And with much less risk than holding something whose value is based more than 100% on speculation.

[J. Barron DeJong]

Stale’s problem is that he wants no trade-offs in life. Complains about Fed keeping rates too low leading to inflation, then complains that the Fed is keeping rates too high while trying to tame inflation to the level he demands, because it has a negative affect on assert values.

Same with his complaint that he can’t afford a house in the place he wants, but is against building more housing in the area he wants. He’d rather complain about BlackRock cornering the market even though they haven’t.

And since he doesn’t understand how any of it works, he’s able to believe that somehow Bitcoin can fix it all, even though if it was widely adopted it would lead to far higher wealth concentration, and much more wild swings in inflation, and of asset prices.

[stalefish3169]

Stale’s problem is that he wants no trade-offs in life. Complains about Fed keeping rates too low leading to inflation, then complains that the Fed is keeping rates too high while trying to tame inflation to the level he demands, because it has a negative affect on assert values.

Same with his complaint that he can’t afford a house in the place he wants, but is against building more housing in the area he wants. He’d rather complain about BlackRock cornering the market even though they haven’t.

And since he doesn’t understand how any of it works, he’s able to believe that somehow Bitcoin can fix it all, even though if it was widely adopted it would lead to far higher wealth concentration, and much more wild swings in inflation, and of asset prices.

Feel free to post all the stupid shit you want. But don't make up positions for me.

[byates1]

Re: jong/loser

You can keep making that argument. But you have been wrong the entire time thus far.

The entire premise of BTC is: either it's speculation/beanie babies/tulips---- or it's the best money ever created.

It's a huge binary chasm. But so far those of us on our side are correct. The world is now accumulating BTC. Tradfi is in, USA, France other countries.

So, you are wrong. And until it all collapses permanently you will not be right.

I'll happily concede the loss if it happens. I understand it's new, volatile etc. it's not final, but w each passing year of acceptance adoption it cements the truth that we are correct.

Tldr: you are in the wrong, on the losing team, and will continue to be.

[J. Barron DeJong]

Feel free to post all the stupid shit you want. But don't make up positions for me.

I’m not making up positions for you. I’m summarizing the positions you’ve taken, and from that inferring that you don’t have a clue how any of it works.

[J. Barron DeJong]

Re: jong/loser

You can keep making that argument. But you have been wrong the entire time thus far.

The entire premise of BTC is: either it's speculation/beanie babies/tulips---- or it's the best money ever created.

It's a huge binary chasm. But so far those of us on our side are correct. The world is now accumulating BTC. Tradfi is in, USA, France other countries.

So, you are wrong. And until it all collapses permanently you will not be right.

I'll happily concede the loss if it happens. I understand it's new, volatile etc. it's not final, but w each passing year of acceptance adoption it cements the truth that we are correct.

Tldr: you are in the wrong, on the losing team, and will continue to be.

You will never concede a loss. You didn’t concede when it dropped 75%. You won’t concede if it drops 90% now.

Just because you and enough other people don’t understand how ‘money’ works, doesn’t make Bitcoin ‘money’ in any sense of the word.

And even if you were to grant that Bitcoin is somehow money, well then it fucking sucks at it’s function then, because it’s pretty fucking volatile.

It’s a purely speculative asset that has a negative expected return because of the fees that miners earn. Everyone who bought into Bitcoin can not be made whole, based purely on the accounting.

But you’ll never believe that.

[JimmyCarter]

Re: jong/loser

You can keep making that argument. But you have been wrong the entire time thus far.

The entire premise of BTC is: either it's speculation/beanie babies/tulips---- or it's the best money ever created.

It's a huge binary chasm. But so far those of us on our side are correct. The world is now accumulating BTC. Tradfi is in, USA, France other countries.


Tldr: you are in the wrong, on the losing team, and will continue to be.

It’s not binary, and certainly not with those as the only two options, which is part of why we keep saying you guys still don’t know what the fuck you’re talking about.

[stalefish3169]

It’s not binary, and certainly not with those as the only two options, which is part of why we keep saying you guys still don’t know what the fuck you’re talking about.

I'm against insiders, many who are corrupt and/or incompetent having outsized influence on the world economy. Do you think it's cool that one dude's presser just wiped trillions off of markets all over the world? I dunno, might be cool if there was a predictable monetary system where everyone could see the rules instead of just letting a handful of dudes shoot from the hip.

Also, I don't think I've ever said don't build more housing. I am very pro-infill. If anything, I've said that Boomers (speaking generally) are to blame because they've lobbied against more housing to pump their own assets.

Keep telling the group I don't know what I am talking about. But clearly I was right about inflation not being transitory, and I was definitely right about BTC price action. So tell me again why I don't know what I'm talking about when, very objectively, I've been correct and you've been MASSIVELY FUCKING WRONG.

[byates1]

BTC is 100 grand. Until it permanently loses 80/90 percent of its value, permanently= stays there for years.. anyone who thinks it's not new hard money is wrong. It's as simple as that.

I just said id happily concede that I am wrong if that happens. I have a spine. You do not. It's that simple.

[J. Barron DeJong]

BTC is 100 grand. Until it permanently loses 80/90 percent of its value, permanently= stays there for years.. anyone who thinks it's not new hard money is wrong. It's as simple as that.

I just said id happily concede that I am wrong if that happens. I have a spine. You do not. It's that simple.

Something that can lose 80-90% of its value is not ‘hard money’ by definition. WTF are you talking about?

[stalefish3169]

Something that can lose 80-90% of its value is not ‘hard money’ by definition. WTF are you talking about?

1 BTC = 1 BTC

[J. Barron DeJong]

Love this new hard money era with it’s 1000% inflation!

[J. Barron DeJong]

1 BTC = 1 BTC

Yeah, that’s fucking stupid and you’re just trying to avoid the issue.

[J. Barron DeJong]

I'm against insiders, many who are corrupt and/or incompetent having outsized influence on the world economy. Do you think it's cool that one dude's presser just wiped trillions off of markets all over the world? I dunno, might be cool if there was a predictable monetary system where everyone could see the rules instead of just letting a handful of dudes shoot from the hip.

Also, I don't think I've ever said don't build more housing. I am very pro-infill. If anything, I've said that Boomers (speaking generally) are to blame because they've lobbied against more housing to pump their own assets.

Keep telling the group I don't know what I am talking about. But clearly I was right about inflation not being transitory, and I was definitely right about BTC price action. So tell me again why I don't know what I'm talking about when, very objectively, I've been correct and you've been MASSIVELY FUCKING WRONG.

You quite specifically said Portland (?) had enough houses, that quantity of housing wasn’t the problem, that it was PE buying up the supply to drive up prices.

I told you that what would really screw over PE would be to build more housing.

[byates1]

Jong is the participation trophy of tgr

[J. Barron DeJong]

Jong is the participation trophy of tgr

Feel free to point out where anything I’ve said here is wrong.

Your side of the argument is, ‘but its price is going up!’, which, sure, but Madoff did that for an awfully long time too.

It may be beneficial for you to try and understand what’s going on behind the curtain.

[byates1]

You explain you side fine. Thus far it's not correct. BTC would have already collapsed permanently if you were right. It has not.

Price is one thing. It's a reflection of adoption. You cannot explain away adoption. It's on the ticker w oil gold and silver everyday. You are wrong.

Good news is you get a participation trophy. We wouldn't want you to leave empty handed.

[J. Barron DeJong]

You explain you side fine. Thus far it's not correct. BTC would have already collapsed permanently if you were right. It has not.

Price is one thing. It's a reflection of adoption. You cannot explain away adoption. It's on the ticker w oil gold and silver everyday. You are wrong.

Good news is you get a participation trophy. We wouldn't want you to leave empty handed.

My side of the argument doesn’t rely on it collapsing permanently.

[stalefish3169]

Feel free to point out where anything I’ve said here is wrong.

Your side of the argument is, ‘but its price is going up!’, which, sure, but Madoff did that for an awfully long time too.

It may be beneficial for you to try and understand what’s going on behind the curtain.

Your Ponzi argument is stupid. Madoff's actions were secret. Bitcoin on the other hand...

[J. Barron DeJong]

Your Ponzi argument is stupid. Madoff's actions were secret. Bitcoin on the other hand...

The point being is that there is less money than was put in. To sustain it’s value requires a constant stream of new money entering.

And as I’ve said before, there’s enough tech, and money/the Fed/etc. are complicated enough subjects, that it prevents people from understanding what’s going on even if it’s happening in the open.

[byates1]

It is money. This is lost on you. It's too big of an idea for you. It's ok. Here's your trophy. We wouldn't want you to feel like a loser.

[J. Barron DeJong]

It is money. This is lost on you. It's too big of an idea for you. It's ok. Here's your trophy. We wouldn't want you to feel like a loser.

It’s hard to keep up with you guys.

I thought we decided a long time ago that it isn’t money, that it’s digital gold, or a store of value.

Again, if it is actually money, then it’s really bad at it’s job.