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

[bennymac]

Didn’t you hear? Mags who came here for financial advice were disserviced Lol

[J. Barron DeJong]

Literally printed money and mailed it to everyone. I put it in BTC.

When France was on the gold standard they ran up a debt of 250% of GDP during WWI. Hard money didn’t prevent borrowing.

On the other hand, moving to ‘fiat’ has enormous benefits neither you nor stale ever seem to come to terms with:

https://delong.typepad.com/sdj/2013/...epression.html

[BobMc]

Netflix has a new documentary, “The Biggest Heist Ever.” It’s pretty interesting, the Razzlekahn thing is pretty cringey. Husband hacked 120,000 bitcoins and then him and wife attempted to launder them.

[stalefish3169]

BTC isn’t hard money. It isn’t even money.

BTC is the hardest money ever created. It's the only money so far where more demand doesn't create more supply. Cry all you want.

You’re a fucking idiot

Does a Picasso have value? Yes
Is it money? No

Does a share of NVDA have value? Yes
Is it money? No

Does a house have value? Yes
Is it money? No

And to note, I’ve probably been holding longer than you. But you fail to read and learn

Neat. So you are a slippery character like Benny. If you've been holding for longer than me it's sad that you still fail to understand the basics.

Unit of account- not meaningfully- things are priced in dollars and BTC is exchanged to transact.

Store of value- no- you’re actually disincentivized to transact in it relative to dollars (line goes up!)

Medium of exchange- not in any meaningful or efficient manner

BTC does not exhibit price stability- it has annualized volatility north of 50% vs the dollar’s single digit vol.

It is not fungible. Transaction costs are still crazy and it’s dependent on conversion to USD or some other third party setup to transact, which eliminates all the benefits of the decentralized system that it is hyped up for being.

It is barely portable without access to a network and keys.

People can send 100 BTC for about $3.89 cents today. That is FAR cheaper than tradfi. Take a lap.

I post in very few threads - so again you are just exaggerating/making stuff up instead of refuting what I said. No one is surprised by your hypocrisy.

That's demonstrably false. You opine about nearly everything. That doesn't mean you're correct about anything.

[stalefish3169]

When France was on the gold standard they ran up a debt of 250% of GDP during WWI. Hard money didn’t prevent borrowing.

On the other hand, moving to ‘fiat’ has enormous benefits neither you nor stale ever seem to come to terms with:

https://delong.typepad.com/sdj/2013/...epression.html

Thanks for linking us to another Keynesian economist in a feeble attempt to state that deficits don't matter.

[bennymac]

That's demonstrably false. You opine about nearly everything. That doesn't mean you're correct about anything.

Go ahead and demonstrate that I post in threads on nearly everything if you’re so confident…I’ll wait.

And while you’re at it show where I said I’m right about everything I post. I’ll keep waiting.

[JimmyCarter]

BTC is the hardest money ever created. It's the only money so far where more demand doesn't create more supply. Cry all you want.



Neat. So you are a slippery character like Benny. If you've been holding for longer than me it's sad that you still fail to understand the basics.



People can send 100 BTC for about $3.89 cents today. That is FAR cheaper than tradfi. Take a lap.



That's demonstrably false. You opine about nearly everything. That doesn't mean you're correct about anything.

You’re putting words together but they don’t mean what you think they mean

[stalefish3169]

Go ahead and demonstrate that I post in threads on nearly everything if you’re so confident…I’ll wait.

And while you’re at it show where I said I’m right about everything I post. I’ll keep waiting.

You’re putting words together but they don’t mean what you think they mean

I have better things to do than try to convince you ostriches.

[bennymac]

It’s not about convincing anybody. You’re talking about factual proof. And you have none despite saying you could demonstrate it. Seems like you’re the one making stuff up. He who protests the loudest…

[J. Barron DeJong]

Thanks for linking us to another Keynesian economist in a feeble attempt to state that deficits don't matter.

You’re a fucking idiot who still to this point doesn’t realize that Keynesian economics in no way says deficits don’t matter.

Yet you’re extremely confident that we’re the ones who are misunderstanding Bitcoin.

[Crusty]

"People can send 100 BTC for about $3.89 cents today. That is FAR cheaper than tradfi. Take a lap."

Well, I can ship my entire checking account for $3.00 through Intuit payments but I don't think that really matters. The bigger issue for Americans is that transferring BTC for goods or services is a capital gains event which is not true for tradfi.

I also think this "securitization" of BTC is what's driving the price through the roof. We have BTC ETFs now. I think newer investors view this more like a security and less like money.

[shera]

I sold some more chainlink and bitcoin. 2/3 more rounds before the end of the year.

[MakersTeleMark]

I don't mean to come across as a fool, but after 7 years I've settled down into a strategy that works for just me. I've consolidated my alts, pulled back from my staking positions, refined my boundaries, and now, after all these years, I can mindlessly just follow the path that I've addended to on my wall, from the first day that I received a 1 dollar bill that had a red stamp on it that said "buy btc". I've had that on my wall for almost a decade, wrote with a sharpie to 2035, and it took me a few years as you can see in this thread, and I've been into about anything and everything you can possible think of in crypto, minus NFT's, but after all those years, and those weaning, and pruning, and shifting and swapping, I have finally found a strategy that works for me. It's a breath of fresh air, after thousands of hours over years of refining my outlook and positions. Now, I just need to once a few months execute. What a load off.

I can just rest now, with confidence that if I follow it, at least it is just me to blame. Amen. I know those of you here have found that way before me, but it is refreshing to just finally break through with a plan, not a goal, that I am fully confident in.

I also bought a new pair of headphones that I desperately needed for a transaction fee of $0.02. Granted, I don't think that little crypto to fiat payrail will exist in 6 months, but I needed to ladder hard out of a coin, and I also felt like I deserved a little joy. It actually went up more than that in the time I did the transaction, but IDGAF, because bears are tasty too, and I needed to de-risk, and I'll be dead before this actually means anything besides utter chaos. Which I am very much looking forward to. Not the death part, but that doesn't really bother me either. I live pretty hard in the moment, and I've got nothing or no one who GAF either. Literally nothing.



I've got 3 passports, zero debt, no relationships or family, a monster 4wd truck with a camper, a very efficient car, a motorcycle that I love, 6 pairs of skis of which I only ski 1, a nice enough very well tuned mtb, and I really DNGAF. I think I'm going to walk a camino this year and maybe taste some porto for the first time in a long long time and maybe run into splat somewhere out there. I am done with burning man after almost a decade, but I still do marriage consults on the side. Hit me up in the dm's. Because if your wife finds you looking at this post, she most certainly will.

[MakersTeleMark]

I sold some more chainlink and bitcoin. 2/3 more rounds before the end of the year.

I kinda wanta round trip that link bitch till september, but I should be more disciplined.

[frorider]

“This is taking it to a different level,” Mr. Noble, who now teaches law at American University, said. “This is a direct conflict of interest. We have not seen anything like this before. We have moved so far away from the ethical norms of past presidents, where they divested themselves of financial interests.”

President-elect Trump was initially a crypto skeptic — he called Bitcoin “a scam,” and said it was designed to undermine the U.S. dollar. But he started to embrace crypto on the campaign trail this year, as the industry spent more than $130 million backing congressional candidates.
In September, Mr. Trump and his sons started World Liberty Financial, a platform for investors to borrow and lend using cryptocurrencies. They unveiled a new digital currency, called WLFI, that was available for purchase.

The business got off to a rocky start. It aimed to sell $300 million of the WLFI tokens, which would have translated to a major windfall for the Trump family. After about two weeks, it had only managed to sell $2.7 million, according to a securities filing.

Then World Liberty Financial got a boost in the form of a $30 million token purchase by Mr. Sun.

Mr. Sun has legal problems in the United States: The S.E.C. sued him and his company, Tron last year, accusing them of manipulating the digital currency market, which he has denied. His investment in World Liberty could ultimately result in a payment as large as $22.5 million to Mr. Trump’s family under a compensation agreement that entitles a Trump business entity to 75 percent of token revenue.

The kleptocratic opportunities are pretty exciting, ya gotta admit.
https://www.nytimes.com/2024/12/10/u...onference.html

[stalefish3169]

The kleptocratic opportunities are pretty exciting, ya gotta admit.
https://www.nytimes.com/2024/12/10/u...onference.html

Bitcoin is bigger than any person or political party. The establishment Dems were just too busy stealing from citizens and protecting the status quo to realize that crypto is here to stay. Instead of working to keep the USA's competitive advantage, they tried to kill crypto and fumbled the ball.

[JimmyCarter]

Bitcoin is bigger than any person or political party. The establishment Dems were just too busy stealing from citizens and protecting the status quo to realize that crypto is here to stay. Instead of working to keep the USA's competitive advantage, they tried to kill crypto and fumbled the ball.

Please explain how the Dems were stealing from citizens.

[stalefish3169]

You’re a fucking idiot who still to this point doesn’t realize that Keynesian economics in no way says deficits don’t matter.

Yet you’re extremely confident that we’re the ones who are misunderstanding Bitcoin.

Post some pics of your BTC short P&L and we'll let the group decide who the idiot is.

[J. Barron DeJong]

Post some pics of your BTC short P&L and we'll let the group decide who the idiot is.

Why would I short something that I believe has an irrational price? Is there a reason to believe it will suddenly become rational? Also a good reason not to short TSLA.

Hey, did you ever figure out if it would be good/bad for the government to spend taxpayer money to buy hundreds of billions of dollars of Bitcoin?

While we’re at it, did you ever figure out why the Fed looks at core inflation instead if all-items inflation when deciding interest rate policy?

[The Nuclear Option]

Bitcoin is bigger than any person or party

So, there are a lot of you guys getting rich off of nothing? Or what are you saying?

[stalefish3169]

Why would I short something that I believe has an irrational price? Is there a reason to believe it will suddenly become rational? Also a good reason not to short TSLA.

Hey, did you ever figure out if it would be good/bad for the government to spend taxpayer money to buy hundreds of billions of dollars of Bitcoin?

While we’re at it, did you ever figure out why the Fed looks at core inflation instead if all-items inflation when deciding interest rate policy?

I'd much rather the USA spend its tax dollars on buying BTC then enriching weapons manufacturers. Does that answer your question?

Also core inflation is a scam. Sorry that you're too much of a sheep to understand that. But anyway, it's nice that the fed capitulated on their 2% target.

[stalefish3169]

So, there are a lot of you guys getting rich off of nothing? Or what are you saying?

Nice ironic post about nothing. It's cool that you think the strongest computing network in the history of the world is "nothing" but you do you Boo Boo.

[Bunion 2020]

Nice deflection you could be a Stanley Cup caliber Goalie.

Should the Feds guarantee peoples investment in BTC? or support BTC with taxpayer dollars should the price show a decline?

[stalefish3169]

"People can send 100 BTC for about $3.89 cents today. That is FAR cheaper than tradfi. Take a lap."

Well, I can ship my entire checking account for $3.00 through Intuit payments but I don't think that really matters. The bigger issue for Americans is that transferring BTC for goods or services is a capital gains event which is not true for tradfi.

I also think this "securitization" of BTC is what's driving the price through the roof. We have BTC ETFs now. I think newer investors view this more like a security and less like money.

Well, you're making a strong assumption that Intuit is even going to let you do what you want with your own money. Also fuck Intuit in the face for buying off the government so we have to pay a grip of money to pay our own taxes.

"As of September 2023, the ACH transaction limit for QuickBooks Online Payments is $100,000 per transaction. This is an increase from the previous limit of $50,000. However, this limit does not guarantee that all ACH transactions under $100,000 will be approved.
Other ACH payment limits include:
Daily limit: Nacha limits ACH transactions to $100,000 per day.
Savings account limit: If you plan to make ACH transfers through your savings account, there is a limit of six transactions per month.
Bank limits: ACH transfer limits can vary by bank. For example, Bank of America's limit is $1,000 per transaction for personal customers and $5,000 per transaction for small businesses. Chase's limit is $25,000 per day for most accounts.
You can add ACH payments to QuickBooks with your customer's permission. You can also save their bank information for future payments.

QuickBooks ACH payment transaction fees vary depending on the service and the QuickBooks plan being used:
Client Payment by ACH: $1 fee in QuickBooks Online
ACH Bank Transfer: 1% fee, with a maximum of $10, in QuickBooks Online
ACH Bank Transfer (Pay as you go): $3 fee in QuickBooks Desktop
ACH Bank Transfer (Pay monthly): $3 fee in QuickBooks Desktop
QuickBooks also charges fees for other payment methods, including:
In-person payments: 2.5% fee
Online and invoiced payments: 2.99% fee
Manually keyed payments: 3.5% fee
To save on ACH fees, you can try using alternative payment methods, such as traditional checks, if immediate transaction clearance isn't required.
"

[J. Barron DeJong]

I'd much rather the USA spend its tax dollars on buying BTC then enriching weapons manufacturers. Does that answer your question?

Also core inflation is a scam. Sorry that you're too much of a sheep to understand that. But anyway, it's nice that the fed capitulated on their 2% target.

Actually that doesn’t answer my question. Not even close.

Maybe you can explain how exactly core inflation is a scam and how the Fed has capitulated?