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

[stalefish3169]

It is interesting seeing Danny Knowles taking over What Bitcoin Did. Feels kinda awkward so far, hopefully he'll find his groove, he was such a great sidekick.

I'm liking Danny. I think he gets the tech better than Peter. But I liked Peter too. Having a hard time getting into his new show tho.

[stalefish3169]

It’s not actually laughable, they’re using current CBO numbers:

https://www.cbo.gov/publication/60419

Do you want to try again?

Something, something, something, inflation will magically go back to 2%. You're such a rube if you believe that shit.

https://x.com/LynAldenContact/status...92126170980644

https://x.com/LynAldenContact/status...86197920776297

"As part of their calculations, CBO assumes that inflation is going to gradually come down exactly to the Fed's target, not undershoot at all, and then stay exactly at that target indefinitely."

[nickwm21]

Duplicate delete

[nickwm21]

[emoji638]][emoji640][emoji639]][emoji637][emoji6[emoji640][emoji638]][emoji[emoji6[emoji640][emoji638]][emoji640][emoji640]][emoji637][emoji[emoji6[emoji640][emoji638]][emoji640][emoji639]][emoji639]]I'm selling because I have things I want to buy

You’re not supposed to say that out loud.


Sent from my iPhone using [emoji638]][emoji640][emoji640]][emoji640][emoji638][emoji638][emoji638]]TGR Forums

[J. Barron DeJong]

Something, something, something, inflation will magically go back to 2%. You're such a rube if you believe that shit.

First, the Fed can absolutely push inflation down to 2% in the long run if they choose.

Second, you’re the one who predicted just recently that the US was going to inflate away its debt.

Inflating away the debt would imply less of a debt burden, no?

[stalefish3169]

First, the Fed can absolutely push inflation down to 2% in the long run if they choose.

Second, you’re the one who predicted just recently that the US was going to inflate away its debt.

Inflating away the debt would imply less of a debt burden, no?

Sure, the fed can do a lot of stuff. But drastic measures often bring a lot of pain to the public.

You can't have it both ways dude. You don't get to say "the fed can push inflation to 2%" and then go on to say, "they will just inflate the debt away."

I said BTC was going to 100k and wouldn't post in here anymore until it did. I kept my word. Why don't you say that you won't post in here anymore until it goes to 0? You're flailing dude. I'm embarrassed for you.

This is what you sound like: https://www.reddit.com/r/Bitcoin/com..._said_that_it/

[J. Barron DeJong]

Sure, the fed can do a lot of stuff. But drastic measures often bring a lot of pain to the public.

You can't have it both ways dude. You don't get to say "the fed can push inflation to 2%" and then go on to say, "they will just inflate the debt away."

I said BTC was going to 100k and wouldn't post in here anymore until it did. I kept my word. Why don't you say that you won't post in here anymore until it goes to 0? You're flailing dude. I'm embarrassed for you.

This is what you sound like: https://www.reddit.com/r/Bitcoin/com..._said_that_it/

Fuck me.

I’m not the one trying to have it both ways. That would be you.

What ‘drastic measures’ do you think it will take to get inflation to move from 3.5% to 2%?

We have actually had to take drastic measures before:



But that wasn’t to try to shift a measly 1.5%, and the economy that followed was pretty good.

And also, if inflation did just stay at 3.5% that wouldn’t necessarily be a bad thing either. When the Fed was debating a formal target in the 90’s there were some economists arguing that 2% was too low, and they arguably were proved correct with the Great Recession.

But back to the original point that you keep trying to divert from, it’s absolutely possible for the government to get debt under control if it chooses.

[The Nuclear Option]

Why so evasive?

What do you think that this internet forum and thread is for? For BTC believers to circle jerk congratulatory and self confirming sentiments?

If that’s what you want go to a forum tightly moderated by BTC believers where I’d be banned in a second for “FUDDing?”

Here’s what I find ultimately BS is that rather than just saying “it goes up and I make money,” you continue to ascribe some noble purpose to it.
That in essence what SheRa admits - she is cashing in and hoping it’ll go down so can buy some more. Fine.

But don’t feed us BS about some noble purpose or field leveling breakthrough.

Here's the thing. I don't give a fuck if you buy BTC or not. I'd prefer you short it tbh.

Why don't you just buy Amazon stock? Clearly the company has amazing ethics and the founder never dumps massive amounts of shares on the shareholders. Oh, wait...fuck.

"Jeff Bezos, the founder of Amazon.com Inc. (NASDAQ:AMZN), has wrapped up his recent sale of Amazon shares. Last week, Bezos sold off Amazon stock worth $1.3 billion, taking his total sales for November to a whopping $3.4 billion."

[The Nuclear Option]

At least you’re honest about just wanting to get rich off it.

But you might want to reconsider this statement: “bitcoin is the only sure thing.”

Nothing is a sure thing.

I wouldn't presume to tell you to trust bitcoin, or anything else. I have my hands full taking care of this one adult.

I'll tell you one thing though and maybe it'll help you find the answers you're so desperate to find. People that have made it through a full cycle often have a certain frame of mind that you may not have seen before. They are mostly trying to figure out how to get more bitcoin, not sell it.

I'm selling because I have things I want to buy and because I hope to be somewhat lucky with market cycles and buy more through the next bottom. Not because I'm trying to unload on the next loser. And I am certainly not getting rid of all my bitcoin, never that. I'm trying to sell as little as possible because to me, bitcoin is the only sure thing.

[stalefish3169]

Why so evasive?

What do you think that this internet forum and thread is for? For BTC believers to circle jerk congratulatory and self confirming sentiments?

If that’s what you want go to a forum tightly moderated by BTC believers where I’d be banned in a second for “FUDDing?”

Here’s what I find ultimately BS is that rather than just saying “it goes up and I make money,” you continue to ascribe some noble purpose to it.
That in essence what SheRa admits - she is cashing in and hoping it’ll go down so can buy some more. Fine.

But don’t feed us BS about some noble purpose or field leveling breakthrough.

I get to decide what I like and dislike about Bitcoin. Not you. Of course, I like that BTC increases in price, but I do sincerely believe it's a force for positive change in the world. Acceleration of renewable energy development, reduced corruption, and less war are some of the potential places I see BTC helping. But cynicism is rampant in today's world, so people have a hard time resolving that.

People are free to post as much as criticism as they want. But they should expect to receive pushback, especially if they post stupid shit that insinuates they're just regurgitating the latest headlines from mainstream media. You come at my livelihood, then you better be prepared to defend your statements.

[shera]

At least you’re honest about just wanting to get rich off it.

But you might want to reconsider this statement: “bitcoin is the only sure thing.”

Nothing is a sure thing.

I never said I just wanted to get rich off it. I am watching it unfold in the world and I am curious about its effects on humanity. I'm a misanthrope so I find it difficult to be as optimistic as stalefish, but I'll take the wins.

Yes the bitcoin network is a sure thing. I've done my homework and I'm convinced. There's never been anything like it before and it is inevitable.

[stalefish3169]

I never said I just wanted to get rich off it. I am watching it unfold in the world and I am curious about its effects on humanity. I'm a misanthrope so I find it difficult to be as optimistic as stalefish, but I'll take the wins.

Yes the bitcoin network is a sure thing. I've done my homework and I'm convinced. There's never been anything like it before and it is inevitable.

I am an optimist for the future, but a pessimist regarding our current predicament.

[MultiVerse]

I like that BTC increases in price but I do sincerely believe it's a force for positive change in the world

Your first argument is fine and it's ok to stop there. Bitcoin is a culture of becoming newly rich. It's a culture that's good at constructing and maintaining narratives. Once a person makes some money off of bitcoin they tend to tell stories about the world that don't involve luck and good fortune. Many of the stories about the world being broken are true. That's why the value in bitcoin is the stories it generates.

If newly rich bitcoiners use their riches to improve the world then that's valuable even though bitcoin on its own doesn't at all. On the other hand, we're seeing many newly rich bitcoiners not trying to improve the world but instead trying to topple the existing order so that they can rule instead. It's not to make better financial systems, for example, but instead to take over so they can become extremely wealthy and influential themselves.

[MultiVerse]

Acceleration of renewable energy development, reduced corruption, and less war are some of the potential places I see BTC helping.

I am an optimist for the future, but a pessimist regarding our current predicament.

On its own bitcoin does very little of the things described by Stalefish. He might point to some marginal renewable energy project, but that's a drop in the ocean compared with the energy transformation at large. It's nothing, really. It's just a story.

If stalefish or anyone else wants to convince people of its benefits then it needs to involve newly rich contrarians taking on and funding new ambitious projects that improve the world. Crypto-maxi anarcho-capitalists need to create better more daring projects with tangible results, not just stories.

[shera]

You see bitcoin solving the world's financial problems, not sure I do.

Well I appreciate the premise that bitcoin can store your time/energy/work without devaluing it and without requiring an unsustainable world built on consuming ever more and more. And anyone is free to use it, there are no gatekeepers built into the system.

But I see people vote against their own self interest ALL THE TIME. And I'm convinced there is a larger portion of the population that simply isn't interested in it, except maybe as another mechanism to show hate. I mean look at this thread, I would not want to meet these people in a dark alley!

The game theory stuff is really interesting. If Russia and China decide bitcoin is important and we don't keep up, then what? We're just in it later at a worse price? Head in the sand forever? We're just the ones without the hard asset that can swallow ALL the other assets and we don't care? I don't guess that will work out very well.

[J. Barron DeJong]

would not want to meet these people in a dark alley!

GTFO.

I haven’t hit anyone besides my brother since middle school, and haven’t hit him since high school.

I’d be the one trying to deescalate. I’m sure I’m no different than the others here.

But believe whatever makes you feel better.

[J. Barron DeJong]

Maybe this will help sooth stale’s inflation panic:





Note that this measures the treasury markets prediction of CPI inflation, whereas the Fed targets PCE inflation, which has averaged 0.4% lower than CPI over the past quarter century. So the market fully expects the Fed will meet it’s inflation target over the next 5 and 10 years.

But maybe stale has a better understanding of such things.

[MultiVerse]

You see bitcoin solving the world's financial problems, not sure I do.

The game theory stuff is really interesting. If Russia and China decide bitcoin is important and we don't keep up, then what? We're just in it later at a worse price? Head in the sand forever? We're just the ones without the hard asset that can swallow ALL the other assets and we don't care? I don't guess that will work out very well.

- Stablecoins, not bitcoin, are a technology that will lower the cost of payments. That won't solve the world's financial problems but stablecoin adoption will lower transaction costs around 1.5-to2-percent. That's still a big deal even though it might not sound like much at first. Stablecoins are composable, programmable & inexpensive. It's going to be fun watching the technology get better and better, and then solve all kinds of interesting problems

- Bitcoin maxis will tell any story to justify the government boosting their bags. The Russia and China gambit is just another absurd story. America should lead in crypto and especially stablecoin tech but strategic bitcoin stories are just nonsense

[stalefish3169]

You see bitcoin solving the world's financial problems, not sure I do.

Well I appreciate the premise that bitcoin can store your time/energy/work without devaluing it and without requiring an unsustainable world built on consuming ever more and more. And anyone is free to use it, there are no gatekeepers built into the system.

But I see people vote against their own self interest ALL THE TIME. And I'm convinced there is a larger portion of the population that simply isn't interested in it, except maybe as another mechanism to show hate. I mean look at this thread, I would not want to meet these people in a dark alley!

The game theory stuff is really interesting. If Russia and China decide bitcoin is important and we don't keep up, then what? We're just in it later at a worse price? Head in the sand forever? We're just the ones without the hard asset that can swallow ALL the other assets and we don't care? I don't guess that will work out very well.

I mean, I don't think it's a panacea, but I do think it's a large step in the right direction.

Did you read this one?

https://www.citadel21.com/why-the-yu...ismiss-bitcoin

It's excellent and I think it describes the vibe in this thread really well. I think the average TGR poster is probably a ultra-white dude in his mid-50s or 60s and doing pretty well financially. He prob has a basic biz degree from some state school or maybe even an MBA. Of course some of the most successful ones are dentists. He probably owns a pretty nice house outside of Denver that he's re-fied around 2.5%. He might even own a vacation home in Summit County. He's quote "made it" and the most important thing to him is that the status quo DOES NOT CHANGE. He just needs stuff to stay static so he can check to make sure there are still high six or low seven figs in his Vanguard account and then fire off a few Teams messages to direct the Zoomer worker bees while he's waiting in the gondola line. While riding up the hill he thinks about how his above average level of intelligence (which in reality is probably average at best) made him successful, rather than just being extremely lucky to be born a few decades before the peak of the American Empire and right at the time where he could gain maximum the benefit from ZIRP.

[J. Barron DeJong]

I mean, I don't think it's a panacea, but I do think it's a large step in the right direction.

Did you read this one?

https://www.citadel21.com/why-the-yu...ismiss-bitcoin

It's excellent and I think it describes the vibe in this thread really well. I think the average TGR poster is probably a ultra-white dude in his mid-50s or 60s and doing pretty well financially. He prob has a basic biz degree from some state school or maybe even an MBA. Of course some of the most successful ones are dentists. He probably owns a pretty nice house outside of Denver that he's re-fied around 2.5%. He might even own a vacation home in Summit County. He's quote "made it" and the most important thing to him is that the status quo DOES NOT CHANGE. He just needs stuff to stay static so he can check to make sure there are still high six or low seven figs in his Vanguard account and then fire off a few Teams messages to direct the Zoomer worker bees while he's waiting in the gondola line. While riding up the hill he thinks about how his above average level of intelligence (which in reality is probably average at best) made him successful, rather than just being extremely lucky to be born a few decades before the peak of the American Empire and right at the time where he could gain maximum the benefit from ZIRP.

Whatever makes yourself feel better.

[stalefish3169]

Whatever makes yourself feel better.

It stings because you know I'm right.

Here's a little extra salt to ruin your weekend.

https://cryptobriefing.com/microstra...100-inclusion/

[J. Barron DeJong]

It stings because you know I'm right.

Here's a little extra salt to ruin your weekend.

https://cryptobriefing.com/microstra...100-inclusion/

Some of us are very in favor of changing many things about the status quo, we just actually want that change to be in a beneficial direction.

And why should I care if MicroStrategy makes it onto the Nasdaq 100?

[bennymac]

Assumes we’re all white because we’re all well off - sounds pretty racist.

[skaredshtles]

Maybe this will help sooth stale’s inflation panic:





Note that this measures the treasury markets prediction of CPI inflation, whereas the Fed targets PCE inflation, which has averaged 0.4% lower than CPI over the past quarter century. So the market fully expects the Fed will meet it’s inflation target over the next 5 and 10 years.

But maybe stale has a better understanding of such things.

-stalefish, probably:

[stalefish3169]

Assumes we’re all white because we’re all well off - sounds pretty racist.

I said "average TGR poster." But feel free to tell us how you differ from what I described.


Per the GOOG:
"The average US skier is predominantly white, male, and of an older age:
Race
In the 2022-2023 season, 88.1% of US skiers identified as white, while 1.5% identified as Black. Only 11.3% of active skiers identify as an ethnic minority.
Gender
In 2022-2023, 63.5% of cross-country skiers were male and 36.5% were female.
Age
The median age of skiers is 35, and the number of older skiers is increasing. The skiing industry boomed in the 1950s and 1960s, driven by the baby boomer generation. Many baby boomers are now retired and using their leisure time and disposable income to ski.
The number of active snow sports participants in the US has been increasing, from 8.6 million in 1996-97 to 11.6 million in 2022-23. However, youth participation is not keeping pace with historical numbers."