Be ahead of the curve

Healthcare jobs with pay you can see.
This forum made possible through the generous support of SDN members, donors, and sponsors. Thank you.
Screenshot_20210208-095749_Chrome.jpg


What happens when some countries with a little more global economic heft than India decide to heavily regulate or outright ban BTC...
 
vector2 said:
View attachment 329498

What happens when some countries with a little more global economic heft than India decide to heavily regulate or outright ban BTC...
Click to expand...
Nothing because that can't happen according to the crypto evangelists or some other variation of it's decentralized and they can't etc even though it's intrinsic value is nonexistent if you can't redeem it. I have yet to see that example of a house being bought with crypto that was mentioned before.

It would be nice if this 'store of value' stopped acting like a volatile penny stock with whiplash based on 24 hour news cycle, then it could actually be taken seriously as a store of value. The tesla converts drove the price up 15% in a matter of minutes I might as well play the stock market by day trading.
 
vector2 said:
View attachment 329498

What happens when some countries with a little more global economic heft than India decide to heavily regulate or outright ban BTC...
Click to expand...

I don't trust a word cnbc says. They lost all credibility with all the fake news articles they were putting out for the hedge funds. I just look to see what they're trying to get the market to do.
 
Direct Laryngoscopy said:
Still early........till it’s not
Click to expand...

I make nothing of the Tesla news. If they want to accept BTC for solar panels or cars then that's great. But it'll be a long time before I pay for anything in BTC because its value fluctuates so much. Why would I use 2 BTC to buy a TSLA right now, when as you say, in a couple years that BTC could be worth 5-10x as much and the car or solar panel is a depreciating asset? I think I understand the utility of what BTC could be, but I don't understand how it or any crypto could be taken seriously as a real legitimate form of currency when its value fluctuates so much.
 
GassYous said:
I don't trust a word cnbc says. They lost all credibility with all the fake news articles they were putting out for the hedge funds. I just look to see what they're trying to get the market to do.
Click to expand...
Dude, CNBC is not making up a story of that magnitude on their own. Everyone needs to settle down and realize that CNBC and the other financial sites have always been corporatists who rely on big banks and big trading firms to generate a lot of their stories. The gamestop nonsense doesn't automatically all of a sudden make all their reporting unreliable.

 
vector2 said:
Dude, CNBC is not making up a story of that magnitude on their own. Everyone needs to settle down and realize that CNBC and the other financial sites have always been corporatists who rely on big banks and big trading firms to generate a lot of their stories. The gamestop nonsense doesn't automatically all of a sudden make all their reporting unreliable.

Click to expand...

The CNBC newscasters clearly have an agenda. They are not just reporters. I watched a little of the GME coverage. They kept referring to how the behavior of the Wall Street bets crowd would hurt “ordinary investors”because of all the damage they were doing to 401Ks. Please.
 
dr doze said:
The CNBC newscasters clearly have an agenda. They are not just reporters. I watched a little of the GME coverage. They kept referring to how the behavior of the Wall Street bets crowd would hurt “ordinary investors”because of all the damage they were doing to 401Ks. Please.
Click to expand...
I didn't say they didn't. But that's neither here nor there when it comes to the factual claim of whether there is a bill being considered in the Indian parliament to ban bitcoin and start their own national crypto.
 
Direct Laryngoscopy said:


Big Corps now understand whats happening to their money. You should also
Click to expand...


Or, and humor me on this, big corps know that by very publicly jumping on the BTC bandwagon, they can secure a position, skyrocket the price, and unload it at a later time. Don’t be left with the bag. If I had BTC now I’d be counting my blessings and cashing in.
 
Probably nothing......


Mastercard Will Let Merchants Accept Payments in Crypto This Year - CoinDesk

Mastercard is planning to give merchants the option to receive payments in cryptocurrency later this year.
According to a source familiar with the matter, the functionality will see Mastercard customers’ digital currency payments settled in crypto at participating merchants, a first for the financial giant. The company has not yet disclosed which digital currencies it intends to support, or where.
The details shed new light on CEO Michael Miebach’s Q4 pledge to integrate digital currency payments “directly on our network” in a move the new chief, helming his first earnings call on Jan. 28, said will provide maximal flexibility to customers and merchants alike.

Previously, Mastercard supported limited cryptocurrency transactions through its cryptocard partners Wirex and Uphold. But those programs only cover payment, not settlement; the coins are converted to fiat currency well before reaching the merchant.
The new initiative promises to upend that dynamic among the store owners and businesses who opt in. They will be able to conduct their business beyond the bounds of the fiat ecosystem, assuming, of course, their customers have crypto they’re willing to spend.
That’s hardly a safe bet given the buy-and-hold mantra pervading the world’s largest cryptocurrency. The source pointed out most bitcoin (BTC, -2.97%) buyers primarily treat their coins as investment vehicles, not payment tools. And the source underscored there’s no guarantee Mastercard’s crypto settlement initiative will support bitcoin.

Instead, cryptos will be evaluated against Mastercard’s 2019 “Principles for Blockchain Partnerships” framework, the source said. Released in the wake of Mastercard’s Libra exit, the document placed emphasis on stability, consumer protection and regulatory compliance in vetting potential partners.
“Many of today’s 2,600 digital currencies today fail to do this,” Mastercard said at the time.
In a blog post published after this story, Mastercard Executive Vice President for Blockchain and Digital Asset Products Raj Dhamodharan hinted stablecoins will be the primary beneficiary of Mastercard’s coming integration.
“Our philosophy on cryptocurrencies is straightforward: It’s about choice. Mastercard isn’t here to recommend you start using cryptocurrencies. But we are here to enable customers, merchants and businesses to move digital value,” Dhamodharan said.
Relatively few merchants currently accept crypto, bitcoin or no. Tesla’s stated plans to sell cars for bitcoin remains a hypothetical. A widespread crypto economy is still far from reality.
 
DoctwoB said:
Or, and humor me on this, big corps know that by very publicly jumping on the BTC bandwagon, they can secure a position, skyrocket the price, and unload it at a later time. Don’t be left with the bag. If I had BTC now I’d be counting my blessings and cashing in.
Click to expand...

you never had BTC and will never have it

Armchair QB opinion means nothing in the grand scheme of things
 
CocoMelon0531 said:
you never had BTC and will never have it

Armchair QB opinion means nothing in the grand scheme of things
Click to expand...
You’re right. I have a lot (and plan to buy a lot more of) of VTSAX and some bonds. In all likelihood and based on US market history I will do very well long term with this strategy. Will Crypto? Will BTC (even if crypto as a whole does well?) Who knows. It wasn’t long ago the GME was going to 🚀 🚀.
 
DoctwoB said:
You’re right. I have a lot (and plan to buy a lot more of) of VTSAX and some bonds. In all likelihood and based on US market history I will do very well long term with this strategy. Will Crypto? Will BTC (even if crypto as a whole does well?) Who knows. It wasn’t long ago the GME was going to 🚀 🚀.
Click to expand...

For the past decade, GME has a 100% return in comparison to its low in 2010 to today price
For the past decade, SP500 has 250% return in comparison to its low in 2010 to today price
For the past decade, BTC went from $100 to today price of 45-48K

Hey, I'm just looking at actual trend in the past decade here. You probably say the same thing when BTC was at $1K, 5K, 10K, 15K, 20K, 25K, 30K, 35K, 40K, 45K, and so forth for the next decade at 1 million.

Glad that you're happy with your VTSAX. You do you.
 
CocoMelon0531 said:
For the past decade, GME has a 100% return in comparison to its low in 2010 to today price
For the past decade, SP500 has 250% return in comparison to its low in 2010 to today price
For the past decade, BTC went from $100 to today price of 45-48K

Hey, I'm just looking at actual trend in the past decade here. You probably say the same thing when BTC was at $1K, 5K, 10K, 15K, 20K, 25K, 30K, 35K, 40K, 45K, and so forth for the next decade at 1 million.

Glad that you're happy with your VTSAX. You do you.
Click to expand...
Hindsight is 20/20.

This is also survival bias. S&P 500 always survives, and has grown more times than not, over long periods. That cannot be said of many individual stocks/businesses. The turtle has always won, over long periods (i.e. multiple decades).

For every BTC, there are many other virtual currencies than went bust. Even BTC may; those tulips were also pretty expensive at some point. But you do you.

My (unsolicited) advice though: once you reach your number, get out of speculating ASAP. Count your blessings and your LUCK, before you lose everything. Do read "Fooled By Randomness", written by a successful pro option trader. There are relatively VERY few truly skilled people even among the pros. All it takes is a few bad bets, and you're back to square 1.
 
Last edited by a moderator:
FFP said:
Hindsight is 20/20.

This is also survival bias. S&P 500 always survives, and has grown more times than not, over long periods. That cannot be said of many individual stocks/businesses. The turtle has always won, over long periods (i.e. multiple decades).

For every BTC, there are many other virtual currencies than went bust. Even BTC may; those tulips were also pretty expensive at some point. But you do you.

My (unsolicited) advice though: once you reach your number, get out of speculating ASAP. Count your blessings and your LUCK, before you lose everything. Do read "Fooled By Randomness", written by a successful pro option trader. There are relatively VERY few truly skilled people even among the pros. All it takes is a few bad bets, and you're back to square 1.
Click to expand...

I read a random walk on wall street and every time I regret not getting in on the next big thing I think about all the people who lost their life savings. No thanks I'll just keep to my boring index funds every month.
 
Direct Laryngoscopy said:
$2 Trillion Banking Giant BNY Mellon Reveals Bitcoin And Crypto Plans—‘Digital Assets Are The Future’

Still early. Wait till the announcements come from your favorite nation state and central bank.
Click to expand...

everyone could adopt BTC as currency tomorrow and it won’t change the fact that almost everyone sees it as an investment to HODL and not one to sell/spend. That’ll forever be BTCs problem. Widespread adoption doesn’t necessitate price hikes in the same way that hype does.
 
I could give countless examples of where bitcoin is used for peer to peer transactions internationally. I could could also explain how the second layer (lightning) allows for instant settlement and is being used now (Jack maller’s strike uses the technology for any fiat to fiat instant payment anywhere on the planet) and exchanges will be adopting it for inter-institutional settlement and it will trickle down to P2P in this country eventually down the road, but I understand the goal posts will be moved. Adoption is coming and crypto will be ubiquitous in the financial structure.

This is the overhaul of the archaic (and financial oppressive) SWIFT system. It’s just that the market is choosing a system where to participate, you have to follow the open rules of the code of bitcoin. It’s coming whether you like it or not.

I know it’s not popular amongst a lot here, but my contrarían (at least here) opinion is what I see happening. Everyone here can laugh at me should it go to 0 (it’s not), but everyone should be taking note.
 
FFP said:
Hindsight is 20/20.

This is also survival bias. S&P 500 always survives, and has grown more times than not, over long periods. That cannot be said of many individual stocks/businesses.

For every BTC, there are many other virtual currencies than went bust. Even BTC may; those tulips were also pretty expensive at some point. But you do you.
Click to expand...
This thread is an echo chamber (or possibly just advertising) if you haven't noticed. The big proponents keep citing the amazing benefit and uses for bitcoin but can't seem to address any concerns or criticisms in a way that doesn't boil down to 'you do you.'
 
chessknt said:
This thread is an echo chamber (or possibly just advertising) if you haven't noticed. The big proponents keep citing the amazing benefit and uses for bitcoin but can't seem to address any concerns or criticisms in a way that doesn't boil down to 'you do you.'
Click to expand...
Not at all. These are all valid concerns and questions. But these things take time to be built, evolve and adopted. It's a digital financial revolution thats happening in real time. Its not a like a light switch that instantly turns on. The only engagement I get is pushback.
 
1613085371959.png

Bitcoin is in its 2nd decade of existance. We're seeing institutional adoption as its a sound digital global money, that can be used for FINAL settlement with no counter party risk 24/7 on a global scale. These things take time.
 
Southpaw said:
everyone could adopt BTC as currency tomorrow and it won’t change the fact that almost everyone sees it as an investment to HODL and not one to sell/spend. That’ll forever be BTCs problem. Widespread adoption doesn’t necessitate price hikes in the same way that hype does.
Click to expand...
Absolute Digital scarcity (21 million total or 2.1 quadrillion pieces) in a digitized world does give it value. I see in the future you'll take loans out against your BTC stash instead of giving it up or loaning it out on a peer to peer basis via a smart contract. or earn in. I recently got a fold card where i earn BTC by shopping (BTC rewards are the best. Free BTC). This is just the beginning
 
Direct Laryngoscopy said:
Not at all. These are all valid concerns and questions. But these things take time to be built, evolve and adopted. It's a digital financial revolution thats happening in real time. Its not a like a light switch that instantly turns on. The only engagement I get is pushback.
Click to expand...
But when your revolution threatens the monetary system all the major nations rely on to maintain their dominance how in the world do you expect to succeed? This would be like starting the american fascist party in your basement 10 years ago and having it grow in to a full grown militia of thousands with a plan to take over the town hall and a stated purpose of overthrowing the us government eventually. The us government didn't care when you were writing a manifesto in your basement but once you start growing enough to pose a threat you are going to get shut down hard. Now imagine how china will react.

This is the biggest problem with realizing this utopian dream of one unitary medium of digital exchange that I have yet to see a remotely compelling argument against.
 
chessknt said:
But when your revolution threatens the monetary system all the major nations rely on to maintain their dominance how in the world do you expect to succeed? This would be like starting the american fascist party in your basement 10 years ago and having it grow in to a full grown militia of thousands with a plan to take over the town hall and a stated purpose of overthrowing the us government eventually. The us government didn't care when you were writing a manifesto in your basement but once you start growing enough to pose a threat you are going to get shut down hard. Now imagine how china will react.

This is the biggest problem with realizing this utopian dream of one unitary medium of digital exchange that I have yet to see a remotely compelling argument against.
Click to expand...

We won’t have this discussion until BtC at 1 million. Maybe by then I would take profit. Every story has an endgame. We are still early in the tune.
 
chessknt said:
But when your revolution threatens the monetary system all the major nations rely on to maintain their dominance how in the world do you expect to succeed? This would be like starting the american fascist party in your basement 10 years ago and having it grow in to a full grown militia of thousands with a plan to take over the town hall and a stated purpose of overthrowing the us government eventually. The us government didn't care when you were writing a manifesto in your basement but once you start growing enough to pose a threat you are going to get shut down hard. Now imagine how china will react.

This is the biggest problem with realizing this utopian dream of one unitary medium of digital exchange that I have yet to see a remotely compelling argument against.
Click to expand...

You are presenting an argument as if the only option is to completely replace fiat. Governments will digitize money if only to be able to allow a computer to extract taxes alone. Its not an either/or question in my opinion. There is no international currency and digital assets do have the potential to be utilized in this fashion.

Im hearing an echo chamber in regards to tulips. Bitcoin continues to be called tulips as it continually shows growth in value over time. Put the majority of your money in ETFs great but theres almost no excuse to not put 1-5% of your portfolio into Bitcoin to diversify your funds. If you had dollar cost averaged 1% of 400k per year into bitcoin youd have beaten the market and basically every stock but Tesla if you decided to exchange your Bitcoin for fiat every four years.

Debating the utility of cryptocurrencies is an entirely different argument than having Bitcoin as a store of value. Its like debating with someone if they goosed the tube when you keep shouting tulips.

The proponents of Bitcoin arent *****s and hucksters like you guys seem to think. It is almost undebateable that Bitcoin is here to stay as a store of value alone.
 
chessknt said:
But when your revolution threatens the monetary system all the major nations rely on to maintain their dominance how in the world do you expect to succeed? This would be like starting the american fascist party in your basement 10 years ago and having it grow in to a full grown militia of thousands with a plan to take over the town hall and a stated purpose of overthrowing the us government eventually. The us government didn't care when you were writing a manifesto in your basement but once you start growing enough to pose a threat you are going to get shut down hard. Now imagine how china will react.

This is the biggest problem with realizing this utopian dream of one unitary medium of digital exchange that I have yet to see a remotely compelling argument against.
Click to expand...
IMO the only way to stop bitcoin (and devalue it) is if governments practice austerity. Thats something that I don't see happening in my lifetime. The global decentralized nature of bitcoin makes it pretty much unstoppable (some municipalities and governments are starting to accept that reality and are embracing a crypto future like Estonia, while others are hardlining and 'banning' it, to their eventual detriment, India presently).

America could close off the onramps to selling USD for Bitcoin, but now that's it approaching a 1 trillion dollar market cap with both retail and institutional accumulation and adoption, that seems more unlikely by the day). As the price explodes in price, what we are witnessing is hyperinflation of the US dollar vs bitcoin. The US dollar as a world reserve currency is trapped because of the monetary policies enacted after WWII. I would recommend reading up on trifin's dilemma to get an idea. The American dollar dominance for 80 years have afforded us the lifestyle that we enjoy to the detriment of many nations who's currencies have failed many times over. We have now reached a point where the dollar may not be the only dominant currency where all global trade is based. The Federal Reserve (which is not a federal agency and ironically has no reserves) can't be audited and can only print (create debt, loans etc).

Bitcoin which no one knows who create (some guess the CIA, Elon Musk, Hal finney) is an open system that can be audited, is final settlement and digital bearer asset, with absolute scarcity. I'm not saying there won't be challenges along the way, but If the government haven't been able to stop it when it was a million dollar, billion dollar and now trillion dollar asset over the course of 12 years, why do you think It will be stopped now with a fever pitch of big corp adoption. You know that there are Bitcoiners in office. There's a Senator from Wyoming Lummis who is now on the Senate Banking committee. You don't think she's the only Senator, Congress person, Governor or Mayor that holds Crypto? As we gain more adoption, there will be crypto lobbyist, advocates and politicians that will openly advocate for more crypto adoption. Its coming. get ready.....
 
Direct Laryngoscopy said:
IMO the only way to stop bitcoin (and devalue it) is if governments practice austerity. Thats something that I don't see happening in my lifetime. The global decentralized nature of bitcoin makes it pretty much unstoppable (some municipalities and governments are starting to accept that reality and are embracing a crypto future like Estonia, while others are hardlining and 'banning' it, to their eventual detriment, India presently).

America could close off the onramps to selling USD for Bitcoin, but now that's it approaching a 1 trillion dollar market cap with both retail and institutional accumulation and adoption, that seems more unlikely by the day). As the price explodes in price, what we are witnessing is hyperinflation of the US dollar vs bitcoin. The US dollar as a world reserve currency is trapped because of the monetary policies enacted after WWII. I would recommend reading up on trifin's dilemma to get an idea. The American dollar dominance for 80 years have afforded us the lifestyle that we enjoy to the detriment of many nations who's currencies have failed many times over. We have now reached a point where the dollar may not be the only dominant currency where all global trade is based. The Federal Reserve (which is not a federal agency and ironically has no reserves) can't be audited and can only print (create debt, loans etc).

Bitcoin which no one knows who create (some guess the CIA, Elon Musk, Hal finney) is an open system that can be audited, is final settlement and digital bearer asset, with absolute scarcity. I'm not saying there won't be challenges along the way, but If the government haven't been able to stop it when it was a million dollar, billion dollar and now trillion dollar asset over the course of 12 years, why do you think It will be stopped now with a fever pitch of big corp adoption. You know that there are Bitcoiners in office. There's a Senator from Wyoming Lummis who is now on the Senate Banking committee. You don't think she's the only Senator, Congress person, Governor or Mayor that holds Crypto? As we gain more adoption, there will be crypto lobbyist, advocates and politicians that will openly advocate for more crypto adoption. Its coming. get ready.....
Click to expand...

It isn't that the government couldn't stop it, they just had no reason to. Now if it is threatening USD dominance it wont be very challenging for them to declare it illegal to redeem BTC for USD if they get enough lawmakers on board. I am not even sure if they would need to try that hard--it is widely used as a unit of transaction for ransomware and if it can be linked to terrorist activities I doubt there would be much outcry from the right over stopping terrorists by choking off USD supply to their digital currency of choice. Of course the individual user can find ways around this by exchanging for one currency (fiat or digital) then exchanging that in to USD (for a while) but all this massive influx of American money (hedge funds, some companies) in to BTC that has driven the price to the moon is going to have to get out to stay legal. If that happens then what happens to BTC? Does it still stay a 12 figure asset when it isn't usable in the United States? I dont think it does and if that is the case then it really isnt useful as a hedge against inflation. It would be nice to think that it will stay free flowing and legal forever and if that is the case then I imagine it will grow in value over time but the murky legal future of all of crypto but BTC especially is a huge risk.
 
You do know the US govt tried to “stop” bitcoin and they couldn’t right? We’re beyond banning and stopping it.

The most widely used currency used for money laundering, drug trade, terrorist activities is the US dollar. I haven’t heard about a ban of that currency.

Sorry for the sarcasm but this FUD has been discussed for years. The last thing a criminal wants to use for illicit activities is Bitcoin because the transactions are public on a ledger for the world to see. I understand your concerns, and I’m not a pie in the sky Bitcoin cures all, but a realist and I understand where the world is heading. I guess we’ll agree to not agree on crypto. I may have a bit more insight in the space because I’ve been in the space for awhile and working on a project in the space. Hopefully my post have been at least thought provoking as I definitely don’t know for sure where it’s heading but have a well thought out idea about it. Good luck to you.
 
Thanks everyone for the discussion. Still wondering what is the "easiest" way to buy and store BTC for the more archaic person (i.e. not having my own physical wallet and worrying about passwords)?

Thanks!
 
mheat3 said:
Thanks everyone for the discussion. Still wondering what is the "easiest" way to buy and store BTC for the more archaic person (i.e. not having my own physical wallet and worrying about passwords)?

Thanks!
Click to expand...

if you don’t want a physical wallet just buy it on Coinbase and keep it there. But I do suggest getting a ledger wallet, very easy to set up and move your coins there from Coinbase after buying. There are numerous video tutorials on YouTube
 
sevo00 said:
if you don’t want a physical wallet just buy it on Coinbase and keep it there. But I do suggest getting a ledger wallet, very easy to set up and move your coins there from Coinbase after buying. There are numerous video tutorials on YouTube
Click to expand...
Thanks for the suggestion. Are you referencing the "Ledger" brand name wallets or just as a general term for the physical wallet?
 
blockstar said:
Im hearing an echo chamber in regards to tulips. Bitcoin continues to be called tulips as it continually shows growth in value over time. Put the majority of your money in ETFs great but theres almost no excuse to not put 1-5% of your portfolio into Bitcoin to diversify your funds. If you had dollar cost averaged 1% of 400k per year into bitcoin youd have beaten the market and basically every stock but Tesla if you decided to exchange your Bitcoin for fiat every four years.
.
Click to expand...
I think your guys' arguments are compelling enough that putting 1-5% of your portfolio into btc is perfectly reasonable, but I take issue with anyone who says "If you had....."with regard to making a current or future investment in an asset.

There is a reason that "past performance is no guarantee of future results" is a famous phrase.
 
Direct Laryngoscopy said:
You do know the US govt tried to “stop” bitcoin and they couldn’t right? We’re beyond banning and stopping it.

The most widely used currency used for money laundering, drug trade, terrorist activities is the US dollar. I haven’t heard about a ban of that currency.

Sorry for the sarcasm but this FUD has been discussed for years. The last thing a criminal wants to use for illicit activities is Bitcoin because the transactions are public on a ledger for the world to see. I understand your concerns, and I’m not a pie in the sky Bitcoin cures all, but a realist and I understand where the world is heading. I guess we’ll agree to not agree on crypto. I may have a bit more insight in the space because I’ve been in the space for awhile and working on a project in the space. Hopefully my post have been at least thought provoking as I definitely don’t know for sure where it’s heading but have a well thought out idea about it. Good luck to you.
Click to expand...
Can you elaborate on what was done to try to ban bitcoin by the us goverwnt in the past?
 
Why would they ban it? Every time a wiseguy makes $100K in profits, the Treasury makes like 30, in the same year, and every time a sucker loses $100K, they lose like 1K per year, for 33 years, NOT inflation-adjusted. More money for the budget.

When BTC stops going up or crashes (because, let's say, somebody comes up with a much more trusted cryptocurrency), there will be a lot of tears, as with GME and other Ponzi schemes.
 
Last edited by a moderator:
Direct Laryngoscopy said:
The last thing a criminal wants to use for illicit activities is Bitcoin because the transactions are public on a ledger for the world to see.
Click to expand...

Then why was it the currency of choice for The Silk Road, and why was it so hard to find/catch The Dread Pirate Roberts?

(There’s a great documentary about this for anyone who’s interested).
 
SaltyDog said:
Then why was it the currency of choice for The Silk Road, and why was it so hard to find/catch The Dread Pirate Roberts?

(There’s a great documentary about this for anyone who’s interested).
Click to expand...
If bitcoin ever actually becomes useful for buying things, it won't be people trading bitcoins with each other. It'll be people with accounts with a 3rd party making transactions with those accounts, and the 3rd party will make a note that a bitcoin now belongs to DL instead of Salty. No need to update the blockchain. And then they'll start with the fractional reserve lending of that bitcoin ...
 
SaltyDog said:
Then why was it the currency of choice for The Silk Road, and why was it so hard to find/catch The Dread Pirate Roberts?

(There’s a great documentary about this for anyone who’s interested).
Click to expand...

You’re right. I should have specified now a days, but you can’t dispute my claims on the US dollar as the currency of choice for nefarious activities.
 
pgg said:
If bitcoin ever actually becomes useful for buying things, it won't be people trading bitcoins with each other. It'll be people with accounts with a 3rd party making transactions with those accounts, and the 3rd party will make a note that a bitcoin now belongs to DL instead of Salty. No need to update the blockchain. And then they'll start with the fractional reserve lending of that bitcoin ...
Click to expand...

That’s possible. Mainstream adoption will mean it will have to be dumbed down on orders of magnitude. But chances are, at this point I won’t trust a 3rd party to manage my digital assets. Im comfortable navigating and remitting payments directly to merchants and peers. Been doing it for some time.
 
  • Like
Reactions: pgg
I will say I've been a skeptic. I've said as much in this thread but I think you have to acknowledge the 12 years of bitcoin history.

It seems like it's here to stay.

I don't think it's a mandatory thing to be involved in but I like the idea of investing a reasonable amount in bitcoin and certain other cryptocurrency.

I'm not saying one should put in 50% of their assets into crypto but putting 1 to 5% is not a bad idea.

I took the plunge and started purchasing off coinbase pro. Was relatively painless. Still reading and learning about the technology which is interesting and is here to stay. Whether bitcoin will still be a major player in 10 years, who knows. But it is hard to ignore the major companies involved in this technology.

I'm allocating $500 to $700 a month to crypto (bitcoin and eth).

In comparison, my other monthly investments are as follows:
$1750+1000 in my 401k in a s and p 500 fund
$4000 in VTSAX and VTI
$1000 IN VXUS

I'm a firm believer in low cost broad index funds being the foundation of my investment portfolio but I don't think it's a big issue to throw a minor percentage to things like this.
 
anonperson said:
I will say I've been a skeptic. I've said as much in this thread but I think you have to acknowledge the 12 years of bitcoin history.

It seems like it's here to stay.

I don't think it's a mandatory thing to be involved in but I like the idea of investing a reasonable amount in bitcoin and certain other cryptocurrency.

I'm not saying one should put in 50% of their assets into crypto but putting 1 to 5% is not a bad idea.

I took the plunge and started purchasing off coinbase pro. Was relatively painless. Still reading and learning about the technology which is interesting and is here to stay. Whether bitcoin will still be a major player in 10 years, who knows. But it is hard to ignore the major companies involved in this technology.

I'm allocating $500 to $700 a month to crypto (bitcoin and eth).

In comparison, my other monthly investments are as follows:
$1750+1000 in my 401k in a s and p 500 fund
$4000 in VTSAX and VTI
$1000 IN VXUS

I'm a firm believer in low cost broad index funds being the foundation of my investment portfolio but I don't think it's a big issue to throw a minor percentage to things like this.
Click to expand...
This
 
Direct Laryngoscopy said:
That’s possible. Mainstream adoption will mean it will have to be dumbed down on orders of magnitude. But chances are, at this point I won’t trust a 3rd party to manage my digital assets. Im comfortable navigating and remitting payments directly to merchants and peers. Been doing it for some time.
Click to expand...
I'd like to see that happen. The libertarian in me loves the idea of a stateless currency.

The volatility of bitcoin, and the way a small number of whales can move its price ... that's got to change though, and I don't see how it does.

It's also an environmental disaster and although I'm hardly a tree hugging hippie, burning that many kWh of electricity to do pointless math rubs me as just wrong.

And large governments with a lot to lose have done some drastic stuff with money, lawyers, and guns to protect their turf. That's just history. There's no universe I can imagine where they all just roll over.
 
You must log in or register to reply here.

Similar threads

Aether2000
Is the NLM Search Database (PubMed, Medline) At Risk of Being Filtered for Undesirable Content by the Federal Government?
Replies
4
Views
402
Goro
Goro
Guillemot
The Dilemma of Gastric POCUS
2
Replies
93
Views
4K
Radetzky
R
W
Will reimbursements be slashed by the incoming administration?
Replies
39
Views
3K
VA Hopeful Dr
VA Hopeful Dr
TheLoneWolf
The Miseducation of America’s Nurse Practitioners
2
Replies
87
Views
14K
psychbender
psychbender
M
Too good to be true?
Replies
47
Views
4K
nimbus
nimbus
Top