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

[J. Barron DeJong]

Hi, I’m byates, I don’t understand that just because someone is willing to supply a good at a very high price means that there will be demand to purchase said good at said price:

[Tri-Ungulate]

I think what comes next is stale extolling the virtues of Drumpf Bitcoin Sneakers in how they will save society, while simultaneously providing an inestimable store of value.

With byates slavishly following suit with some profane invective.

Waiting for the, um, shoe to drop.

[byates1]

I'll guarantee anyone who bought those at 500$ will 5-10x the longer they hold.

You dickless fuckwits don't get to decide for humanity what has value and what doesn't. Your own opinion sure. You are literally wrong by the court of the market. Basic shit dimwits.

[bennymac]

Sold out instantly. Probably resell for 10x. So as usual you're an idiot. Read up on supply and demand sometimes. Fairly basic. If you need any explanation just ask. We're here to help you get past the basics

Holee fuck tell us you aren’t really that gullible

[shera]

I'm with her. Fingers crossed for a decisive margin.

Bitcoin doesn't care.

[jackstraw]

I'm with her. Fingers crossed for a decisive margin.

Bitcoin doesn't care.

Yes. BTC is gonna do whatever the hell the people tell it to do. Anyone trying to predict...good luck.

[4matic]

Trump pitching a BTC reserve. Isn’t that contrary to the decentralized narrative and introduces more government?

Why does Ethereum have value relative to BTC if it doesn’t have finite supply?

[4matic]

The Trump shoes are simply to create an illusion of demand and popularity. Sold out! Sure…

[MultiVerse]

Trump pitching a BTC reserve. Isn’t that contrary to the decentralized narrative and introduces more government?

Yes, it's a bad idea. Most people here are sensibly ignoring it b/c they know it's just election pandering and is unlikely to happen.

Why does Ethereum have value relative to BTC if it doesn’t have finite supply?

ETH is useful for Defi. Conceptually, ETH is more of a technology whereas BTC is more of a commodity.

[4matic]

ETC is useful for Defi. Conceptually, ETC is more of a technology whereas BTC is more of a commodity.

Kind of like NVDA vs BTC. Correlated but different.

[MultiVerse]

Yeah, Ethereum is essentially the settlement platform for digital native crypto, not unlike Nvidia is the machine learning platform for AI. While there are competitors for both, ETH & NVDA dominate their ecosystems. BTC by comparison is not very useful in the space.

[JimmyCarter]

The hits just keep on coming

[byates1]

Took profit at 68/70/74.

Been buying back in

[skaredshtles]

Took profit at 68/70/74.

Been buying back in

Hopefully you got back in at 49?

[byates1]

Nah 54

[Brock Landers]

Took profit at 68/70/74.

Been buying back in

Of course you did!

[byates1]

Probably continue down. We'll see how long the markets melt.

[byates1]

Of course you did!

It's not rocket science

[MultiVerse]

Days like today demonstrate why Bitcoin reserves make little sense. Score one for bitcoiners tho for even getting people at large to talk about it.

[J. Barron DeJong]

Not the sharpest crowd:



https://x.com/molly0xfff/status/1822...sR_NcRK2VkCfkg

[byates1]

[shera]

That was interesting, thanks. It's fun watching the evolution of perception on bitcoin. Musk sold at a loss, hahahaa.

I did get insulted when he started slinging around god and morality, completely at odds with the utterly impartial nature of the bitcoin network. People that want that can get it at church. I find it barbaric. Also ready to stop hearing bitcoin and trump in the same sentence. Just a couple more months...

[frorider]

Recently watched a few movies (for whatever reason I go months without watching tv) and noticed that when the storyline needs to indicate a character is a piece of shit, increasingly he (it’s always a male) is identified as a crypto bro. Pedophile, oil fracker, etc—funny how scriptwriters latch on to memes like this as a (lazy?) shorthand.

[shera]

There are plenty of shady crypto bros, but there's a lack of nuance and understanding painting everyone with the same brush. I think you described it: meme, shorthand, lazy. Plus people seem to have a particular appetite for demonization these days. It's so least common denominator.

[byates1]

this is funny AF and pretty spot on