Bitcoin... currency of the future or fraud/scam/bubble?

[TeslaCoil]

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I think you lose all credibility when you aay Gods money.

Most people on here assumed that was a joke?

Most people are idiots. And nobody is losing credibility here but you. It was not a joke at all. If you dont know that bitcoin is as close as it gets to Gods money on planet earth, then you dont know enough. Go educate yourself. Read some books on bitcoin. Maaaybe then you’ll get it. The entire problem with money throughout history is that it can be corrupted by governements, people, institutions. Bitcoin solves that problem. Hence, “Gods money”.

If you even understood the very basics of the way the bitcoin blockchain works, you would understand what Im trying to say. When I first actually opened my mind up to it, it was one of the most profound discoveries Ive ever made in my life.

I’ll give you some examples, back in the day, like medieval times, kingdoms would collect gold and then secretly melt down the gold and then add a small er percentage of cheaper metals like iron to adulter it. Then they would recirculate it. In other words they were inflating the money, even back then. The same way they simply print money to pay for **** now, at YOUR expense. Hello, bitcoin solves that problem.

 

[UscGhost]

Most people are idiots. And nobody is losing credibility here but you. It was not a joke at all. If you dont know that bitcoin is as close as it gets to Gods money on planet earth, then you dont know enough. Go educate yourself. Read some books on bitcoin. Maaaybe then you’ll get it. The entire problem with money throughout history is that it can be corrupted by governements, people, institutions. Bitcoin solves that problem. Hence, “Gods money”.

If you even understood the very basics of the way the bitcoin blockchain works, you would understand what Im trying to say. When I first actually opened my mind up to it, it was one of the most profound discoveries Ive ever made in my life.

I’ll give you some examples, back in the day, like medieval times, kingdoms would collect gold and then secretly melt down the gold and then add a small er percentage of cheaper metals like iron to adulter it. Then they would recirculate it. In other words they were inflating the money, even back then. The same way they simply print money to pay for **** now, at YOUR expense. Hello, bitcoin solves that problem.

Lol.

Its so perfect that there are about 300,000-500,000 bitcoin transactions per DAY...the vast majority of which are investment, not transactions for products and goods/services.

Meanwhile, credit cards are at about 2 billion per day

Hence, basically nobody uses it for daily purposes (pay for good and services) and its primary use is investment.

 

[TeslaCoil]

Lol.

Its so perfect that there are about 300,000-500,000 bitcoin transactions per DAY...the vast majority of which are investment, not transactions for products and goods/services.

Meanwhile, credit cards are at about 2 billion per day

Hence, basically nobody uses it for daily purposes (pay for good and services) and its primary use is investment.

Again. A moot point.

 

[nimbus]

Its both. A guy paid for a pizza with 10,000 bitcoins once. Its just a currency in the “early adoption phase”. Look up the phases of adoption of currency. And soon here it will be in the “early widespread adoption” phase. The fact that there are bitcoin atm’s all over the malls in my town tells me its a currency. As a matter of fact, here, you can use this to see how many bitcoin atms are near you.

Homepage

Find the nearest Bitcoin ATM with our Bitcoin ATM Locator Map. Easily buy bitcoin with cash at one of over 15,000 Bitcoin Depot Locations.

bitcoindepot.com

Have you ever used one of those Bitcoin ATMs?

 

[UscGhost]

Again. A moot point.

Gotcha.

So when you imagine Gods currency, you envisioned money thats deflationary (generally considered terrible for an economy), utilized in very limited transactional volume, primarily used as an investment, not considered a currency by most governments and institutions and not utilized as a currency by 99% of the population.

Its a speculative investment thats a bit easier to transact with than pokemon cards. Thats about it.

It will never become a mainstream currency as there is simply no problem that it solves for the average consumer

 

[nimbus]

I think you lose all credibility when you aay Gods money.

Most people on here assumed that was a joke?

Especially since the existence of god is not settled. God is a matter of faith as is Bitcoin. They are both belief systems. To be fair Bitcoin has enjoyed wide global adoption as has Islam and atheism.

 

[nimbus]

Most people are idiots. And nobody is losing credibility here but you. It was not a joke at all. If you dont know that bitcoin is as close as it gets to Gods money on planet earth, then you dont know enough. Go educate yourself. Read some books on bitcoin. Maaaybe then you’ll get it. The entire problem with money throughout history is that it can be corrupted by governements, people, institutions. Bitcoin solves that problem. Hence, “Gods money”.

If you even understood the very basics of the way the bitcoin blockchain works, you would understand what Im trying to say. When I first actually opened my mind up to it, it was one of the most profound discoveries Ive ever made in my life.

I’ll give you some examples, back in the day, like medieval times, kingdoms would collect gold and then secretly melt down the gold and then add a small er percentage of cheaper metals like iron to adulter it. Then they would recirculate it. In other words they were inflating the money, even back then. The same way they simply print money to pay for **** now, at YOUR expense. Hello, bitcoin solves that problem.

Can you provide a link or recommend a book for us idiots? Where do we start? I’ve been reading about bitcoin over the years but I still don’t really understand it. For now the USD remains the world reserve currency. Even BTC is priced in USD.

 

[nimbus]

Dollar Dominance and the Rise of Nontraditional Reserve Currencies

The US dollar has long played an outsized role in global markets. It continues to do so even as the American economy has been producing a shrinking share of global output over the last two decades.

www.imf.org

Looks like Chinese renmibi is making a strong showing. No mention of BTC.

 

[nimbus]

Its both. A guy paid for a pizza with 10,000 bitcoins once. Its just a currency in the “early adoption phase”. Look up the phases of adoption of currency. And soon here it will be in the “early widespread adoption” phase. The fact that there are bitcoin atm’s all over the malls in my town tells me its a currency. As a matter of fact, here, you can use this to see how many bitcoin atms are near you.

Homepage

Find the nearest Bitcoin ATM with our Bitcoin ATM Locator Map. Easily buy bitcoin with cash at one of over 15,000 Bitcoin Depot Locations.

bitcoindepot.com

I just checked the map for my location. All the ones that come up are in smoke shops, liquor stores, and convenience stores in shady, low-income areas. There are none in my actual zip code. What is the actual use case for a bitcoin ATM beyond collecting fees for the operators? Who is the target market for bitcoin ATMs?

 

[nimbus]

The Role of Cryptocurrencies in International Trade: Could Bitcoin Become the Global Reserve Currency? | Surmount

As global trade evolves, could Bitcoin replace the U.S. dollar as the world’s reserve currency? Here’s how crypto is reshaping international finance.

surmount.ai

 

[chessknt]

I just checked the map for my location. All the ones that come up are in smoke shops, liquor stores, and convenience stores in shady, low-income areas. There are none in my actual zip code. What is the actual use case for a bitcoin ATM beyond collecting fees for the operators? Who is the target market for bitcoin ATMs?

It appears that it is for old people getting scammed. Clearly a big unfulfilled need to separate grandma from her limited social security funds so she can't even afford to buy cat food.

 

[TeslaCoil]

Can you provide a link or recommend a book for us idiots? Where do we start? I’ve been reading about bitcoin over the years but I still don’t really understand it. For now the USD remains the world reserve currency. Even BTC is priced in USD.

My first recommendation would be the bitcoin basics course at saylor academy. Its free. All you have to do is sign up. Saylor.org.

 

[kamilo6]

My first recommendation would be the bitcoin basics course at saylor academy. Its free. All you have to do is sign up. Saylor.org.

I dunno dude...
any different recommendations?
Your buddy Saylor is pumping & dumping

"Michael Saylor has been dumping his personal exposure to bitcoin while at the same time endorsing taking on debt — even suggesting people mortgage their homes — to buy more. The MicroStrategy founder also taught classes to executives on how to leverage corporate assets and equities to buy the crypto."

 

[TeslaCoil]

I dunno dude...
any different recommendations?
Your buddy Saylor is pumping & dumping

"Michael Saylor has been dumping his personal exposure to bitcoin while at the same time endorsing taking on debt — even suggesting people mortgage their homes — to buy more. The MicroStrategy founder also taught classes to executives on how to leverage corporate assets and equities to buy the crypto."

Thats a straight up lie. And microstrategy just keeps buying. You want a different one read the bitcoin standard.

 

[Arch Guillotti]

Its just shocking how people come on here and **** on btc like they understand their a$$ from their elbow. I legitimately wonder if some of them are really that stupid or if they are just bad actors, and want to sabotage people.

All Im trying to do is spread the word of bitcoin because in my mind and heart, its the closest thing to God’s money. Im glad that somebody came and smacked me around and opened my eyes up to it, and Im just trying to pay it forward.

Is this a joke about god or what? How am I going to get in on this since I am not a true believer???

 

[TeslaCoil]

Is this a joke about god or what? How am I going to get in on this since I am not a true believer???

See, people think im some kind of religious whacko when I say this. Look, its a friggin euphamism, I thought that was obvious, but I guess I have to spell it out again. It has nothing to do with God or religion, really. The saying that it is Gods money, stems from what it is in essence. A free and non-sovereign currency/store of value, which is decentralized. Meaning not controlled, altered or manipulated by any one entity, but instead functions by the consensus of everyone using it. It cant be corrupted or inflated like centralized monies of yore. Can we all agree one of the most devastating financial moves in history was coming off of a gold standard? Can we all agree that the federal government is ruining our earning and our savings by printing money to pay for wars and other unproductive things? If we can agree on those then we can agree that a money that cannot be corrupted in these ways is exceptionally valuable.

 

[TeslaCoil]

 

[Arch Guillotti]

There really isn't any use to spamming us with some wacky youtube videos by some nutjob. Nobody except you watches them.

 

[TeslaCoil]

There really isn't any use to spamming us with some wacky youtube videos by some nutjob. Nobody except you watches them.

Robert Kiyosaki is a nutjob to you? You know his books completely changed my life and made me wealthy. Hes a contributor in this video. Along with a lot of other credible people. Mark Cuban, Kathy Wood, Michael Saylor. All contributors. But okay, nutjob video. Hey man, dont buy bitcoin, and keep watching your money get inflated away. Hopefully eventually it will click in your brain. If not, its not my problem.

 

[deleted641888]

Robert Kiyosaki is a nutjob to you? You know his books completely changed my life and made me wealthy. Hes a contributor in this video. Along with a lot of other credible people. Mark Cuban, Kathy Wood, Michael Saylor. All contributors. But okay, nutjob video. Hey man, dont buy bitcoin, and keep watching your money get inflated away. Hopefully eventually it will click in your brain. If not, its not my problem.

Just because they made you some money doesn’t mean 3/4 of those people aren’t nut jobs/grifters, FYI.

 

[TeslaCoil]

Just because they made you some money doesn’t mean 3/4 of those people aren’t nut jobs/grifters, FYI.

Guess that makes us all nut jobs then. Theres a lot of “nut-jobs” in this forum. Doesnt change that some of these nut jobs know wtf they’re talking about. Taking some of those nut jobs advice has transformed my life. Tough crowd in this place of supposedly intelligent people.

 

[deleted641888]

Guess that makes us all nut jobs then. Theres a lot of “nut-jobs” in this forum. Doesnt change that some of these nut jobs know wtf they’re talking about. Taking some of those nut jobs advice has transformed my life. Tough crowd in this place of supposedly intelligent people.

Robert Kiyosaki makes money off of selling courses to people like you. Grifter.

Cathie Wood’s ARK invest fund is literally based off of “vibes” and God whispering to her what to buy (her words). Nut job.

Michael Saylor has some inkling of the right idea except chose to leverage his fund to unsustainable levels. It’s not like he has a history of tax fraud/evasion, lying about revenue/earnings, and blowing up the company. Grifter.

I think it’s time for you to look in the mirror, Mr. Intelligent.

 

[UscGhost]

Thats a straight up lie. And microstrategy just keeps buying. You want a different one read the bitcoin standard.

Well, Saylor has been selling his shares of microstrategy

So they sell microstrategy shares to buy more bitcoin. Then he advertises the virtues of bitcoin to drive the price up..of a company he owns...of which he is selling his own shares

I see no problems there..

 

[TeslaCoil]

Robert Kiyosaki makes money off of selling courses to people like you. Grifter.

Cathie Wood’s ARK invest fund is literally based off of “vibes” and God whispering to her what to buy (her words). Nut job.

Michael Saylor has some inkling of the right idea except chose to leverage his fund to unsustainable levels. It’s not like he has a history of tax fraud/evasion, lying about revenue/earnings, and blowing up the company. Grifter.

I think it’s time for you to look in the mirror, Mr. Intelligent.

My accounts speak for themselves. If I was as suspicious as you of everyone and everything, Id probably live in a hobbit hole and waste away my life doing nothing out of fear. Fortune favors the bold. That means sifting through the good and bad info. Again, I did at least 100 hours of research before buying my first bitcoin, but clearly you wont take my word for it. Do your own research. And do whatever you think is right. But yes, i do think all the bitcoin naysayers are a bit dim-witted at this point.

I certainly am not taking any self help advice from you. 😂 no offense.

 

[Radar26]

1. You are reaping "rewards" on the backs of other poor souls who actually pay these evil schmucks interest on their credit card balances. You want my opinion? Credit cards are one of the worst things to happen to America financially. Its a broken system. What do you think credit cards just conjure money to pay you for just simply using their card? Of course not. For every one of your type that never have a running balance, there are 10 who are dumb enough to fall for the bait and then they cant pay it off. Do you know that the avg american carries something like $6k in credit card debt on a month to month basis?? Thats ****ed. Dont talk to me about your credit card benefits. I bet you use anecdotal evidence to make medical decisions too.

As a side comment- I was on the phone recently with with my CC rewards department transferring some points for an upcoming vacation, and the rep was offering me a promo APR rate and she said “ but you probably don’t need it because I see you always pay off your statement balance since opening the card (multiple years now)”

So it’s common place that CC companies will track who is generating them money through standard interest payments. That info sits right there in the consumer’s profiles that everyone in the company can see. Might be obvious to ya’ll but it was a personal moment that just that really made it apparent to me.

 

[TeslaCoil]

As a side comment- I was on the phone recently with with my CC rewards department transferring some points for an upcoming vacation, and the rep was offering me a promo APR rate and she said “ but you probably don’t need it because I see you always pay off your statement balance since opening the card (multiple years now)”

So it’s common place that CC companies will track who is generating them money through standard interest payments. That info sits right there in the consumer’s profiles that everyone in the company can see. Might be obvious to ya’ll but it was a personal moment that just made that really made it apparent to me.

Thats right. Evil as can be.

 

[triggermaster]

As a side comment- I was on the phone recently with with my CC rewards department transferring some points for an upcoming vacation, and the rep was offering me a promo APR rate and she said “ but you probably don’t need it because I see you always pay off your statement balance since opening the card (multiple years now)”

So it’s common place that CC companies will track who is generating them money through standard interest payments. That info sits right there in the consumer’s profiles that everyone in the company can see. Might be obvious to ya’ll but it was a personal moment that just that really made it apparent to me.

They also know how much they make off of transaction fees from your charges. They’re happy to have your business whether you carry a balance or not (though they prefer/need some people to carry a balance).

 

[UscGhost]

Robert Kiyosaki is a nutjob to you? You know his books completely changed my life and made me wealthy. Hes a contributor in this video. Along with a lot of other credible people. Mark Cuban, Kathy Wood, Michael Saylor. All contributors. But okay, nutjob video. Hey man, dont buy bitcoin, and keep watching your money get inflated away. Hopefully eventually it will click in your brain. If not, its not my problem.

Is Bitcoin really decentralized when 2% (the whales) own 90% of it?

Seems pretty centralized and the market seems pretty controlled to me

 

[TeslaCoil]

Is Bitcoin really decentralized when 2% (the whales) own 90% of it?

Seems pretty centralized and the market seems pretty controlled to me

Your numbers are quite a bit off.

 

[UscGhost]

Your numbers are quite a bit off.

Are they?

BitInfoCharts data shows that around 1.86% of wallet addresses — over one million — hold more than 90% of all total BTC currently in circulation. Known as whales, some of these individuals or entities hold large amounts of crypto.

What happens when 1% of Bitcoin holders control 99% of BTC supply?

Bitcoin was created to counter the traditional financial system, but in the decades since its creation, a noteworthy amount has been consolidated by a few dozen wallet addresses.

cointelegraph.com

 

[TeslaCoil]

Are they?

BitInfoCharts data shows that around 1.86% of wallet addresses — over one million — hold more than 90% of all total BTC currently in circulation. Known as whales, some of these individuals or entities hold large amounts of crypto.

What happens when 1% of Bitcoin holders control 99% of BTC supply?

Bitcoin was created to counter the traditional financial system, but in the decades since its creation, a noteworthy amount has been consolidated by a few dozen wallet addresses.

cointelegraph.com

Not worried.

Who Owns the Most Bitcoin in 2025? | River Learn - Bitcoin Basics

An overview of the wealthiest bitcoin addresses, and how much the top billionaires, companies, ETFs, and governments are holding.

river.com

You’re not understanding that bitcoin functions a lot like gold. A reserve asset. Yes institutions are buying gold, and a lot of them are financial institutions buying on behalf of their clients and shareholders. There will always be bitcoin ETF’s that people can buy into. More and more by the day actually.

Look up the distribution of Gold holdings you’ll see something similar. Most gold held by institutions and countries.

 

[Splenda88]

My accounts speak for themselves. If I was as suspicious as you of everyone and everything, Id probably live in a hobbit hole and waste away my life doing nothing out of fear. Fortune favors the bold. That means sifting through the good and bad info. Again, I did at least 100 hours of research before buying my first bitcoin, but clearly you wont take my word for it. Do your own research. And do whatever you think is right. But yes, i do think all the bitcoin naysayers are a bit dim-witted at this point.

I certainly am not taking any self help advice from you. 😂 no offense.

Yeah... we believe you

 

[TeslaCoil]

Yeah... we believe you

Ok 🤷🏻‍♂️ I dont care. Plenty of people on here who have seen the light and know what Im saying. Ive got my coins. Absolutely could not care less what somebody named after a sugar alternative who probably isnt even a doctor over here thinks.

 

[sevo00]

Lmao named after a sugar alternative

 

[stillpremed]

Most people are idiots. And nobody is losing credibility here but you. It was not a joke at all. If you dont know that bitcoin is as close as it gets to Gods money on planet earth, then you dont know enough. Go educate yourself. Read some books on bitcoin. Maaaybe then you’ll get it. The entire problem with money throughout history is that it can be corrupted by governements, people, institutions. Bitcoin solves that problem. Hence, “Gods money”.

If you even understood the very basics of the way the bitcoin blockchain works, you would understand what Im trying to say. When I first actually opened my mind up to it, it was one of the most profound discoveries Ive ever made in my life.

I’ll give you some examples, back in the day, like medieval times, kingdoms would collect gold and then secretly melt down the gold and then add a small er percentage of cheaper metals like iron to adulter it. Then they would recirculate it. In other words they were inflating the money, even back then. The same way they simply print money to pay for **** now, at YOUR expense. Hello, bitcoin solves that problem.

Don’t bother talking to dude, the only ghost he is chasing is the bitcoin ghost which will haunt him till the end of his days, whilst he continues grinding, getting burnt out from work and truly enjoying - and in awe of his awesome SPY portfolio before sleeping at night

 

[finalpsychyear]

Don’t bother talking to dude, the only ghost he is chasing is the bitcoin ghost which will haunt him till the end of his days, whilst he continues grinding, getting burnt out from work and truly enjoying - and in awe of his awesome SPY portfolio before sleeping at night

Well i hope others can inform themselves and make a decision about allocating. This thread is going to have to get renamed

"Bitcoin... currency of the future"​

We are up 800x since the first post of the thread. I think at 1000x or 150k btc it should be renamed.

 

[stillpremed]

Well i hope others can inform themselves and make a decision about allocating. This thread is going to have to get renamed

"Bitcoin... currency of the future"​

We are up 800x since the first post of the thread. I think at 1000x or 150k btc it should be renamed.

hahahha yeah insane returns, only 5,600 years of SP500 gains compressed in a decade!

 

[UscGhost]

hahahha yeah insane returns, only 5,600 years of SP500 gains compressed in a decade!

You know what they say...

What goes up must continue going up!

 

[chessknt]

You know what they say...

What goes up must continue going up!

And that you have 10000x gains even when you haven't cashed out.

 

[UscGhost]

And that you have 10000x gains even when you haven't cashed out.

Well, you know how it is. Everyone is rich as long as nobody sells!

Question is ..who will be the lucky ones who pick the right time to pull out their jenga pieces

 

[cchoukal]

Well, you know how it is. Everyone is rich as long as nobody sells!

Question is ..who will be the lucky ones who pick the right time to pull out their jenga pieces

although, in fairness, this would be true of any investment, no?

 

[TeslaCoil]

Well, you know how it is. Everyone is rich as long as nobody sells!

Question is ..who will be the lucky ones who pick the right time to pull out their jenga pieces

Is this the way you think about gold? A jenga stack?😂

 

[chessknt]

Is this the way you think about gold? A jenga stack?😂

Is gold touted as a cornerstone of modern investment with 10000x gains?

 

[chessknt]

although, in fairness, this would be true of any investment, no?

Eh I would argue no. Stocks pay dividends but ultimately nobody is on here pretending coca cola is God's money and everyone is a fool for not buying it. The slavish cultism around it is what makes it have to stand up to higher scrutiny.

 

[TeslaCoil]

Is gold touted as a cornerstone of modern investment with 10000x gains?

Depends what your goal is. If its late game wealth preservation, then yes. Maybe not the 10000x gains part. Bitcoin is technically in a class of its own and Im convinced it will soak up a lot of money from every other asset class.

 

[NumTacos]

My wife sent this to me and and asked, is this what bitcoin really is? And I answered, yes, dear.

 

[TeslaCoil]

My wife sent this to me and and asked, is this what bitcoin really is? And I answered, yes, dear.

Did you also tell her that its not $17,000 anymore? I wouldnt put my kids college fund into it. Not denying its volatile. But if you’re a physician with strong income and if you’re not over-leveraged, its a great investment. I dont care what anybody says. Long as you plan to ride out the waves I see no way for you to lose over a 10-30 year term. Just a couple days ago it became legal to invest in bitcoin via retirement accounts. All of these current events should be dinging your bells but I dont think you’ll ever get it. Money will flow into bitcoin from everything else. Believe that.

 

[NumTacos]

Did you also tell her that its not $17,000 anymore? I wouldnt put my kids college fund into it. Not denying its volatile. But if you’re a physician with strong income and if you’re not over-leveraged, its a great investment. I dont care what anybody says. Long as you plan to ride out the waves I see no way for you to lose over a 10-30 year term. Just a couple days ago it became legal to invest in bitcoin via retirement accounts. All of these current events should be dinging your bells but I dont think you’ll ever get it. Money will flow into bitcoin from everything else. Believe that.

Again, “believe that”. I’m a man of faith, but you talk as if crypto is the equivalent of a silver bullet, a virtual deity. You have the zeal of the newly baptized, and yet you believe it is your mission to spread “the good word”. You know what might be kind of an interesting exercise for you, my dear friend? Type in a couple of your posts into some large language model and ask the LLM what it thinks of your tone. Actually might do that myself.

 

[NumTacos]

Again, “believe that”. I’m a man of faith, but you talk as if crypto is the equivalent of a silver bullet, a virtual deity. You have the zeal of the newly baptized, and yet you believe it is your mission to spread “the good word”. You know it might be kind of an interesting exercise for you, my dear friend? Type in a couple of your posts into some large language model and ask the LLM what it thinks of your tone. Actually might do that myself.

It’s like @TeslaCoil , do you ever reflect on why it is that you have such strong opinions about cryptocurrencies? Do you reflect on why it is that you have a self designated role on ths board to provide almost religious indoctrination on the virtues of cryptocurrency ? Have you reflected on why it so important to you? Do you come from a background in which money was a big concern?

 

[TeslaCoil]

It’s like @TeslaCoil , do you ever reflect on why it is that you have such strong opinions about cryptocurrencies? Do you reflect on why it is that you have a self designated role on ths board to provide almost religious indoctrination on the virtues of cryptocurrency ? Have you reflected on why it so important to you? Do you come from my background in which money was a big concern?

Yep. I do not come from means. And Ive reflected on all of that. I am not a gambling man. I will say it again. After doing hundreds of hours of in depth research on bitcoin. What came before it in the 80’s 90’s, early 2000’s. The cypherpunks. The coding of it. How it works. Proof of work. After studying its place within the framework of modern fiat economies, etc etc, I have come to the firm conclusion that it is for lack of a better phrase, “freedom money”. It is very powerful. Most people have no idea just how powerful it actually is. But it will become apparent over the coming decades.