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

[byates1]

Bunion- on the bleeding edge of economic theory

[stalefish3169]

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Why don't you post the quote author brosef?

Also, Bitcoiners are not a monolith.

[byates1]

He's on a commodore 64. Combine that w the bleeding edge software of trg and voila

[byates1]

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Sent from my Pixel 9 Pro using Tapatalk

[stalefish3169]

Uh oh, Jong! Seems like there are lots of companies out there that dON'T aCCePt DoLLaRs!


"Foreign vendors don't want to be paid in dollars anymore and Central Banks are selling Treasuries - the Trump phone or whatever will not fix something like this"


https://x.com/kylascan/status/193470...a6yTiB_ag&s=19

[J. Barron DeJong]

Literally every single (legal) vendor in America takes dollars, dumbass.

Do you stop to consider the reason these same vendors do not take Bitcoin is because they do not want total be exposed to wild currency swings?

[J. Barron DeJong]

While the dollar has been weakening versus other currencies recently, it is still stronger than at any point this century prior to Covid.

Both in nominal terms: https://fred.stlouisfed.org/series/DTWEXBGS

And in real terms: https://fred.stlouisfed.org/series/RTWEXBGS

[Bunion 2020]

Oh I am so sad. Byates made fun of my computer.

Context:

1. Distrust of Government and Centralized Power:

• Decentralization as a Core Value: The fundamental nature of cryptocurrencies like Bitcoin lies in their decentralization, meaning they operate outside the control of central banks and governments. This decentralization is seen by some as a way to circumvent government oversight and control, offering a haven from potential overreach or manipulation.
• Historical Context: Some trace this sentiment back to the very origins of Bitcoin, noting that its first block contained a headline from a newspaper article about government bailouts for banks, highlighting an early association with anti-establishment views.
• Concerns about Monetary Policy: HODLers, and many others in the crypto space, often express concerns about government monetary policies, such as printing more money, which they believe leads to inflation and diminishes the value of traditional currencies. Bitcoin's limited supply, for instance, is seen as an anti-inflationary feature.

2. The HODL Philosophy:

• Long-Term Investment: The HODL strategy is not just about short-term gains; it's also often tied to a belief in the potential of cryptocurrencies to fundamentally change economic and political systems.
• Ideological Belief: Many long-term cryptocurrency investors believe in the separation of money and state, seeing this as an ideological stance.
• Advocacy for Economic Freedom: Some proponents, like Michael Saylor, advocate for economic freedom and encourage wider adoption of Bitcoin as a way to achieve this.

3. Regulation and Its Impact:

• Differing Views on Regulation: While some in the crypto community welcome clear regulation as a way to protect investors and promote adoption, others fear that excessive government control could stifle innovation and limit market access.
• Regulatory Challenges: The fragmented nature of cryptocurrency regulation, both within the U.S. and globally, creates complexities for businesses and investors.
• Government Responses: Governments worldwide are grappling with how to regulate this new technology, with varying approaches ranging from outright bans to the development of Central Bank Digital Currencies (CBDCs).

4. Nuance and Complexity:

• Not All HODLers Share the Same Views: It's important to remember that the cryptocurrency community is diverse, and not everyone shares the same political or ideological beliefs.
• Mixed Political Allegiances: While there may be correlations between crypto ownership and certain political views, research also suggests that crypto purchasers display a mixture of left and right-leaning allegiances.
• Focus on Innovation and Technology: Some HODLers are primarily interested in the technological advancements and innovative potential of blockchain technology, rather than solely focusing on political or economic issues.

In summary, the sentiment you've expressed is a well-known aspect of the HODLer mindset, emphasizing individual liberty and skepticism towards centralized authority. This perspective, often fueled by concerns about monetary policy and government overreach, is reflected in the pursuit of decentralized alternatives like Bitcoin

[stalefish3169]

While the dollar has been weakening versus other currencies recently, it is still stronger than at any point this century prior to Covid.

Both in nominal terms: https://fred.stlouisfed.org/series/DTWEXBGS

And in real terms: https://fred.stlouisfed.org/series/RTWEXBGS

Breaking news! The Federal Reserve (which by the way is not federal at all and is actually a shadowy banker cabal) which is in charge of fleecing the public by continually manipulating the basket of goods is actually full of shit!



https://x.com/charliebilello/status/...Hmmrb_bug&s=19

Price Increases over last 5 years...
CPI Medical Care: +12.0%
CPI Apparel: +14.4%
CPI New Cars: +21.5%
CPI Food at home: +23.3%
CPI Shelter: +27.3%
CPI Food away from home: +30.7%
CPI Used Cars: +32.7%
CPI Electricity: +37.1%
CPI Transportation: +49.3%
US Home Prices: +52.4%
CPI Gas Utilities: +54.0%
CPI Fuel Oil: +68.1%
CPI Gasoline: +68.9%
CPI Auto Insurance: +83.9%
CPI Dozen Eggs: +177%

[byates1]

Jong only relies on his echo charts.

[byates1]

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Sent from my Pixel 9 Pro using Tapatalk

[J. Barron DeJong]

I am sorry, but are you using BLS data to claim that the BLS data is fraudulent?

[SkiCougar]

bitcoin going to 125,000 this year, lots of etf's out there for those not having the cash to buy a bitcoin to ride along side.

[Bunion 2020]

Put your money where your mouth is....

[J. Barron DeJong]

And for the record, the BLS is under the Department of Labor. They are not the Fed.

[J. Barron DeJong]

Haha. SkiCougar is a too.

All the best people.

[stalefish3169]

I am sorry, but are you using BLS data to claim that the BLS data is fraudulent?

The point is it's all BS. Why are home prices not in the basket of goods? They pick and choose to manipulate the "official" CPI amount. But even if the overall rate of inflation is somewhat lower, it's still well above the 2% and the price impact of the much higher rates over the last few years is not going away.

[J. Barron DeJong]

The point is it's all BS. Why are home prices not in the basket of goods? They pick and choose to manipulate the "official" CPI amount. But even if the overall rate of inflation is somewhat lower, it's still well above the 2% and the price impact of the much higher rates over the last few years is not going away.

You are convinced I am the one in an information bubble yet you believe this bullshit.

Housing is included in CPI in the form of rent (for renters) and owners equivalent rent (for homeowners). The methodology is all public if you actually care to know instead of believing in conpiracies.

[J. Barron DeJong]

Shit, even the inflation truthers do not buy what you are selling anymore:

https://truflation.com/

[Vt-Freeheel]

I always read any Clownfish posts with that "paid actors not actual users" tagline in drug commercials. Just some klown on a ski forum who doesn't even ski.

[frorider]

I got asked a CPI question re: house prices a while back, here’s the most cogent answer I found:

The CPI stands for a Consumer Price Index. As in the price of things that are consumed (at a particular moment in time). Real estate prices are not the price of something consumed because they contain the value of current housing consumption but also the capitalized value of future housing consumption. As such, including house prices would make the CPI a mixture of consumption at different times, and therefore unsuitable for comparing the price of consumption bundles at distinct times. Instead, they use a purer measure of the price of housing consumption: rents.

[stalefish3169]

I always read any Clownfish posts with that "paid actors not actual users" tagline in drug commercials. Just some klown on a ski forum who doesn't even ski.

I've shredded better lines in real life than you've dreamed about.

[yeahman]

I've shredded better lines in real life than you've dreamed about.

Funny because I don't recall seeing you ever participate in any of the regional stoke threads. Which one is it again?

[Bunion 2020]

IIRC he was a Heli Guide in AK at one time. We met at an ISSW when he was getting his useless degree in Snow Science.

[stalefish3169]

Funny because I don't recall seeing you ever participate in any of the regional stoke threads. Which one is it again?

I lost a lot of friends in avalanches, went into a dark place for a while, and stopped posting about snow. But here's me and Xavier shredding spines in AK. Does that count?