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

[stalefish3169]

Probably nothing.

https://x.com/EricBalchunas/status/1867736369935921454

https://www.nasdaq.com/press-release...exr-2024-12-13

NEW YORK, Dec. 13, 2024 (GLOBE NEWSWIRE) -- Nasdaq (Nasdaq: NDAQ) today announced the results of the annual reconstitution of the Nasdaq-100 Index® (Nasdaq: NDX®), which will become effective prior to market open on Monday, December 23, 2024.

The following three companies will be added to the Index: Palantir Technologies Inc. (Nasdaq: PLTR), MicroStrategy Incorporated (Nasdaq: MSTR), and Axon Enterprise, Inc. (Nasdaq: AXON).

The Nasdaq-100 Index® is composed of 100 of the largest non-financial companies1 listed on The Nasdaq Stock Market® and dates to January 1985 – nearly 40 years ago –when it was launched along with the Nasdaq Financial-100™ Index, which is comprised of 100 of the largest financial stocks on Nasdaq® These indexes act as benchmarks for financial products such as options, futures, and funds. The Nasdaq-100® is reconstituted each year in December, timed to coincide with the quadruple witch expiration Friday of the quarter....

[Bunion 2020]

My conviction has grown stronger and the lulz have been a blast. BTC just had its highest ever daily close. So pretty solid day all around.

Cool, I went skiing with a bunch of old guys. We skied, told bad and oft repeated jokes, hit some rocks and then had a beer. Pretty solid day all around.

[stalefish3169]

Cool, I went skiing with a bunch of old guys. We skied, told bad and oft repeated jokes, hit some rocks and then had a beer. Pretty solid day all around.

Cheers to that!

[byates1]

Guys let's not forget this is the BTC thread, where we argue the same things for over 700 pages. We all hate each other and skiing talk is verboten. Thank you for your cooperation.

[BobMc]

Thread needs more Razzlekahn.

[byates1]

Best rapper alive

[BobMc]

Street cred…

[XXX-er]

Guys let's not forget this is the BTC thread, where we argue the same things for over 700 pages. We all hate each other and skiing talk is verboten. Thank you for your cooperation.

I did kind of wonder how we got from bitcoin to being white but i wasn't prepared to do any investigation

[shera]

Microstrategy to be included in the Nasdaq 100 (which means it will be part of QQQ) on Dec 23. cnbc

[stalefish3169]

Microstrategy to be included in the Nasdaq 100 (which means it will be part of QQQ) on Dec 23. cnbc

Yep. Lots of people in here just got BTC exposure.

[bennymac]

That’s great news! As per the thread rules that means everyone is free to criticize BTC now if they want.

[byates1]

I mean what is BTC? Maybe TNO can explain it to me.

[shera]

Looks like we're at another new ath. Never gets old.

[byates1]

Good thing musty got out at 40

[stalefish3169]

That’s great news! As per the thread rules that means everyone is free to criticize BTC now if they want.

What if they just bring love instead of hate?

[bennymac]

What if they just bring love instead of hate?

Like when you guys talk about the wives and daughters of mags in a derogatory fashion? That kinda love? I think the term used was “hate fucking”?

And then we have Shera talking bullshit about it’s the BTC cult critics bringing hatred in here and being the ones she wouldn’t want to meet in a dark alley. Give us a break with that gaslighting.

[byates1]

Benny what's your wife up to tonight?

[shera]

I don't have any argument with what you've said here, even the part about any story to boost bags. I see it every day on twitter.

But I don't pretend to know the future either and maybe something completely different will happen regarding bitcoin. For instance nobody saw Michael Saylor's strategy coming. That's kinda why I hang my hat on the bitcoin network, it's an artifact with well understood properties that can be inspected carefully. All the downstream effects are tbd.

- 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

[shera]

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.

I had chatgbt read the article for me, sounds plausible:

This article provides an insightful framework for understanding resistance to Bitcoin among the "yuppie elite," defined as intelligent professionals deeply embedded in and trusting of institutional systems. It uses a 2x2 matrix to correlate intelligence and trust in the system, suggesting that Bitcoin maximalism emerges from a combination of intelligence and system distrust.

The author argues that yuppies' trust in institutional frameworks aligns with their success in traditional professional environments, leading them to dismiss Bitcoin without deep investigation. Their reliance on heuristics, groupthink, and initial red-flag triggers keeps them in a cycle of disbelief. Bitcoin's early learning curve, rife with perceived scams, compounds their resistance, as it clashes with the yuppie ethos of understanding before investing.

The article highlights that maximalists often undergo a worldview shift, abandoning institutional trust—a process many yuppies avoid due to their reliance on these structures for career and social validation. Ultimately, the author predicts that increasing Bitcoin adoption will challenge these perceptions over time.

This analysis offers a nuanced look at the psychological and social barriers that prevent certain demographics from embracing Bitcoin, despite its growing prominence.

[shera]

Followup, what about when the boomer's kids inherit? Will they finally buy houses? Will they just dca into the SnP? I guess if they buy QQQ they'll be exposed to bitcoin now. Isn't it supposed to be the largest wealth transfer in history?

[MultiVerse]

For instance nobody saw Michael Saylor's strategy coming. That's kinda why I hang my hat on the bitcoin network, it's an artifact with well understood properties that can be inspected carefully. All the downstream effects are tbd.

Michael Saylor's strategy is to use leverage and call it arbitrage. That's been done before with assets throughout history. What's unique is giving up the software game — he talks about how hard it is to compete against Microsoft — and become an asset manager instead

[shera]

I meant different for bitcoin obviously. Saylor is absolutely conforming to wall street methods and bringing bitcoin along for the ride. But nobody was talking about it before he did it.

[MultiVerse]

The Grayscale Bitcoin trust ETF was created in 2013. Saylor is a great storyteller. I think that's what makes him unique to a larger audience. I follow a lot of people on the tech side of things and Saylor & MicroStrategy are hardly mentioned, almost never

[shera]

that's very curious

[byates1]

Say what you will but dude is bonkers,balls of steel, put all on black. He's the wealthiest person/company in the world or spectacularly wrong.