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

This forum made possible through the generous support of SDN members, donors, and sponsors. Thank you.
Shameless
Why?

many corporations buying bitcoin coin before trump media. And way before trump media brought it. And it’s not like trump media got some special stock option execution price of bitcoin at say $50k per bitcoin. They are paying full price just like everyone else at at near or at peak current pricing.

Countries are buying bitcoin as reserve currencies.
 
Ah yes.

So i get paid in dollars, i convert to bitcoin, then i move it to cold storage (for safety), then i have to connect my cold wallet to a pc, then i can send it to bitpay...oh..they cant purchase local goods

Ok, well i can have bitpay send it to Apple, who then converts to dollars. So at least i can buy stuff there.

Or i can just use cash/credit

But hey, ill be sure to explain that to my wife when she makes a Costco run and asks for my credit card

But hey its legal tender in El Salvador right? Oh, nobody uses it there either?

Hmm
It’s the same analogy as gold? Why do we keep gold and never use it as currency at Costco to buy stuff?

According to a survey by the deVere Group, 77% of investors under the age of 40 would prefer to add bitcoin to their portfolio over gold.

In the US, more Americans now own bitcoin than gold, according to a presentation at the recent Strategy (NYSE: MSTR) World 2025 conference.

Gold or Bitcoin. It’s like blockbuster vs netflix. And by the way. 77% of those under age 40 prefer bitcoin over gold.


According to a survey by the deVere Group, 77% of investors under the age of 40 would prefer to add bitcoin to their portfolio over gold.

In the US, more Americans now own bitcoin than gold, according to a presentation at the recent Strategy (NYSE: MSTR) World 2025 conference. ”
 
It’s the same analogy as gold? Why do we keep gold and never use it as currency at Costco to buy stuff?

According to a survey by the deVere Group, 77% of investors under the age of 40 would prefer to add bitcoin to their portfolio over gold.

In the US, more Americans now own bitcoin than gold, according to a presentation at the recent Strategy (NYSE: MSTR) World 2025 conference.

Gold or Bitcoin. It’s like blockbuster vs netflix. And by the way. 77% of those under age 40 prefer bitcoin over gold.


According to a survey by the deVere Group, 77% of investors under the age of 40 would prefer to add bitcoin to their portfolio over gold.

In the US, more Americans now own bitcoin than gold, according to a presentation at the recent Strategy (NYSE: MSTR) World 2025 conference. ”
Yes, its the same as gold, as in 99% of its use is as a store of value and not as mainstream currency. Outside of small 3rd world countries,etc

Teslacoil argues that its an everyday currency that will be utilized everyday and everywhere. He even attempts to show this by saying that 100s of businesses accept it.

The advantage of bitcoin (and gold) is that its a store of value and hedge against inflation. Those advantages make it very inefficient and ineffective as a daily currency.

CAN they (gold, bitcoin) be used as a medium for transactions, sale of goods? Yes, but that is far and away the exception, and there are very few current reasons to use it for that. The dollar is leagues ahead in that regard.

Not to mention the fact that governments are very interested in knowing where the money is, what its being used for and controlling it. The idea that the government would create policies and infrastructure in order to lessen their control of monetary policy is simply not logical.

Bitcoin is much better off as a store of value, like gold, than a currency
 
Why?

many corporations buying bitcoin coin before trump media. And way before trump media brought it. And it’s not like trump media got some special stock option execution price of bitcoin at say $50k per bitcoin. They are paying full price just like everyone else at at near or at peak current pricing.

Countries are buying bitcoin as reserve currencies.

Read the article that @Splenda88 posted. Trump has control over policies that affect the value of BTC. He can and does manipulate the price of BTC. His ventures have been accumulating BTC before his policies were announced.



“Trump’s spokespeople have said that the president’s connection to World Liberty does not create a conflict of interestbecause his assets are in a trust that is currently managed by his son, Donald Trump Jr.

But assets in that revocable trust still belong “indirectly” to the president, who is the trust’s grantor and its sole beneficiary. And the funds would be available to him after he leaves office in 2029.

Critics, including Democratic lawmakersand ethics experts, warn that Trump’s crypto interests and his political power create an environment ripe for corruption.

“As a stakeholder in crypto assets, President Trump will likely profit from the very policies he is pursuing,” the advocacy group Democracy Defenders Fund said in a report in April.

Before taking office in January, Trump transferred all DJT shares to the revocable trust managed by Trump Jr. Since then, Trump Media has effectively redefined itself as a cryptocurrency and financial services company.

The company’s first product was the Twitter-like social media platform Truth Social, which is used by Trump but has failed to generate much revenue. The company, which went public last year through a merger with a special purpose acquisition company, nevertheless attracted thousands of retail investors.

In late January, the company announced a fintech brand called Truth.Fi, boosted by a $250 million allocation in investments including bitcoin and exchange-traded funds.

In February, the company began pursuing what it called a “strategic acquisition fund with select investors,” and in March it inked a partnership with Crypto.com to launch a series of ETFs.

In late May, the company said it raised over $2.3 billion in net proceeds from selling stock and convertible notes to about 50 institutional investors, and that it would use those funds to build a bitcoin treasury.

Trump Media’s announcement Monday morning came less than a week after bitcoin hit an all-time high, making it by far the world’s most valuable and popular cryptocurrency.“
 
Last edited:
Read the article that @Splenda88 posted. Trump has control over policies that affect the value of BTC. He can and does manipulate the price of BTC. His ventures have been accumulating BTC before his policies were announced.



“Trump’s spokespeople have said that the president’s connection to World Liberty does not create a conflict of interestbecause his assets are in a trust that is currently managed by his son, Donald Trump Jr.

But assets in that revocable trust still belong “indirectly” to the president, who is the trust’s grantor and its sole beneficiary. And the funds would be available to him after he leaves office in 2029.

Critics, including Democratic lawmakersand ethics experts, warn that Trump’s crypto interests and his political power create an environment ripe for corruption.

“As a stakeholder in crypto assets, President Trump will likely profit from the very policies he is pursuing,” the advocacy group Democracy Defenders Fund said in a report in April.

Before taking office in January, Trump transferred all DJT shares to the revocable trust managed by Trump Jr. Since then, Trump Media has effectively redefined itself as a cryptocurrency and financial services company.

The company’s first product was the Twitter-like social media platform Truth Social, which is used by Trump but has failed to generate much revenue. The company, which went public last year through a merger with a special purpose acquisition company, nevertheless attracted thousands of retail investors.

In late January, the company announced a fintech brand called Truth.Fi, boosted by a $250 million allocation in investments including bitcoin and exchange-traded funds.

In February, the company began pursuing what it called a “strategic acquisition fund with select investors,” and in March it inked a partnership with Crypto.com to launch a series of ETFs.

In late May, the company said it raised over $2.3 billion in net proceeds from selling stock and convertible notes to about 50 institutional investors, and that it would use those funds to build a bitcoin treasury.

Trump Media’s announcement Monday morning came less than a week after bitcoin hit an all-time high, making it by far the world’s most valuable and popular cryptocurrency.“
Or maybe when Trump sues CBS

And CBS settles with him, despite having a winning case, because Trump controls the FCC who controls the fate of the merger deal for CBS

Basically a 16 million dollar bribe
 
Or maybe when Trump sues CBS

And CBS settles with him, despite having a winning case, because Trump controls the FCC who controls the fate of the merger deal for CBS

Basically a 16 million dollar bribe


And CBS fires the highest rated late night talk show host in order to get the deal through. The money guys that we all hate in anesthesia run the whole country.
 
Im in AI too. You still dont get it. Thats fine. Do whatever you want lol.
"You still don't get it."

Lol Those words have never been said before...

Charles Ponzi
Dot.com
Bernie Madoff
2008 real estate
NFTs
Tulips

Maybe.... you still don't get it.
When the rug gets pulled out on it the people holding the bag aren't going to care that but, but, but it's been going up for 10/20 years...
 
Most younger people prefer digital gold to physical gold. It’s just easier. You mention AI, but going forward most likely fintech will be on the blockchain. You might be missing out on that run up.
I might be missing out but FOMO has crushed many a man's finances. I feel somewhat strongly that crypto hype will run with the ai boom and that has a good shot of years in the making from now. But when that massive bubble implodes, which it will, the MSFTs will survive and much of the speculative junk will do a death spiral like a worthless dot com. If you hold till then just remember to take your winnings and let some lemming get stuck with it.
 
Last edited:
And CBS fires the highest rated late night talk show host in order to get the deal through. The money guys that we all hate in anesthesia run the whole country.
Yup

Its strange. Trump just blatantly runs scams, insider trading, etc and maga excuses it by saying that well, Dems do it in secrecy (without any actual proof)

Im sure aneftp will jump in and say " well both sides do it, i just call it like is, i see the whole picture, etc)
 
"You still don't get it."

Lol Those words have never been said before...

Charles Ponzi
Dot.com
Bernie Madoff
2008 real estate
NFTs
Tulips

Maybe.... you still don't get it.
When the rug gets pulled out on it the people holding the bag aren't going to care that but, but, but it's been going up for 10/20 years...
😂 tulips. Thats funny. So bitcoin is like tulips according to you? I mean its obvious you arent educated on the subject. Are tulips durable, fungible, divisible, scarce, portable, decentralized, secure, non sovereign, cross border? No. Only bitcoin is. I wish somebody would rug pull bitcoin, cuz if the price fell, I’d be buying.
 
"You still don't get it."

Lol Those words have never been said before...

Charles Ponzi
Dot.com
Bernie Madoff
2008 real estate
NFTs
Tulips

Maybe.... you still don't get it.
When the rug gets pulled out on it the people holding the bag aren't going to care that but, but, but it's been going up for 10/20 years...

BTC has been out since 2007. When will the rug finally get pulled?
 
BTC has been out since 2007. When will the rug finally get pulled?

They also think it may happen:

dumb and dumber harry GIF
 
BTC has been out since 2007. When will the rug finally get pulled?
As soon as other investments become more attractive

Bitcoin, as a decentralized currency that some proponents have focused on, is the same whether its $1 or $10 or $100. For example, if i wanted to send someone a payment via Bitcoin, that for some reason i couldnt send them cash, i would just buy bitcoin at whatever price it is, send it in the amount i needed to send, and then they convert it back. So whether i send one bitcoin at $100 per coin, or 100 coins at $1 per coin...its irrelevant to myself or the recipient.

I could also send ethereum, or solana, or xrp, or whatever other crypto i wanted

Compare that to stocks (generate revenue, profits, dividends) or real estate (everyone needs land to live, farm, work, etc and generates rents plus appreciation), and even those have gone through boom and bust bubbles

Bitcoins value now relies on the idea that someone else is willing to pay more for it than i did. Once people start cashing out..that value will fall.

What do you think would happen if the top two people, controlling 8% of all bitcoin, decide to start selling?

Many whales bought/own at an extremely low cost basis. You dont think they will want to start profit taking? Would be foolish to risk billions in profits on hopes of making more billions

Its a matter of when...
 
So notwithstanding all the compelling critiques, and generally agreeing with the "con" side (see what I did there?), it strikes me that the risk of holding a small, passive position, is small. So for the average retail investor, which ETFs do you acolytes like? Schwab has BITX? How would a person determine what the best BTC fund might be?
 
As soon as other investments become more attractive

Bitcoin, as a decentralized currency that some proponents have focused on, is the same whether its $1 or $10 or $100. For example, if i wanted to send someone a payment via Bitcoin, that for some reason i couldnt send them cash, i would just buy bitcoin at whatever price it is, send it in the amount i needed to send, and then they convert it back. So whether i send one bitcoin at $100 per coin, or 100 coins at $1 per coin...its irrelevant to myself or the recipient.

I could also send ethereum, or solana, or xrp, or whatever other crypto i wanted

Compare that to stocks (generate revenue, profits, dividends) or real estate (everyone needs land to live, farm, work, etc and generates rents plus appreciation), and even those have gone through boom and bust bubbles

Bitcoins value now relies on the idea that someone else is willing to pay more for it than i did. Once people start cashing out..that value will fall.

What do you think would happen if the top two people, controlling 8% of all bitcoin, decide to start selling?

Many whales bought/own at an extremely low cost basis. You dont think they will want to start profit taking? Would be foolish to risk billions in profits on hopes of making more billions

Its a matter of when...


Whales have already started taking profits. Over the last few years people have sold billion dollars worth. So why price not rugging?
 
Whales have already started taking profits. Over the last few years people have sold billion dollars worth. So why price not rugging?
Its because the demand far far outweighs its supply. Some maybhave started taking profits, but for the most part most large financial institutions like blackrock have been just buying. Microstrategy is at 600,000 btc with a goal of 1 million (which I dont think they’ll ever get to).
 
Its because the demand far far outweighs its supply. Some maybhave started taking profits, but for the most part most large financial institutions like blackrock have been just buying. Microstrategy is at 600,000 btc with a goal of 1 million (which I dont think they’ll ever get to).


Exactly. My question was rhetorical. It’s just funny that this chart has been up only for decades and people still think it’s a ponzi lol. It will be trading at 1 million one day and people wil still say it’s a scam. Jsit funny
 
Exactly. My question was rhetorical. It’s just funny that this chart has been up only for decades and people still think it’s a ponzi lol. It will be trading at 1 million one day and people wil still say it’s a scam. Jsit funny
For sure, just thought Id break it down since apparently we have to dumb it down like that around here. 😂
 
Super dump question

As I know only companies like Microsoft and Apple etc have real hard cash available to them anytime

Microstrategy doesn’t have that type of cash.

How does microstrategy originally buy all that bitcoin. Only so much leverage with selling its own stock to raise capital? Just they also said the company leverage debt (selling stocks,to buy more bitcoin). That’s something the average consumer can do. It was all funny money and a big bet only corporations can do.

MicroStrategy has always perplex me. I literally went to the gym around the corner from micro strategy in Tyson’s corner when the company was in its infancy in mid 1990s. I never understood that company. So always afraid to invest in it. Most AOL people got rich (AOL headquarters was 15 miles or so down the road from Microstrategy and retired well before AOL crashed. But microstrategy employees didn’t get to retire early.
 
Super dump question

As I know only companies like Microsoft and Apple etc have real hard cash available to them anytime

Microstrategy doesn’t have that type of cash.

How does microstrategy originally buy all that bitcoin. Only so much leverage with selling its own stock to raise capital? Just they also said the company leverage debt (selling stocks,to buy more bitcoin). That’s something the average consumer can do. It was all funny money and a big bet only corporations can do.

MicroStrategy has always perplex me. I literally went to the gym around the corner from micro strategy in Tyson’s corner when the company was in its infancy in mid 1990s. I never understood that company. So always afraid to invest in it. Most AOL people got rich (AOL headquarters was 15 miles or so down the road from Microstrategy and retired well before AOL crashed. But microstrategy employees didn’t get to retire early.
I believe they created new shares and sell them to buy BIT. Not sure how they are allowed to do that.
 
I believe they created new shares and sell them to buy BIT. Not sure how they are allowed to do that.
That’s what I’m taking about. No one is personally liable for it going under

Sure their shares could go down to zero but it can never be negative.
 
Exactly. My question was rhetorical. It’s just funny that this chart has been up only for decades and people still think it’s a ponzi lol. It will be trading at 1 million one day and people wil still say it’s a scam. Jsit funny
For the sake of argument,

What percentage of a portfolio would you reasonable recommend someone utilize form Bitcoin
 
So notwithstanding all the compelling critiques, and generally agreeing with the "con" side (see what I did there?), it strikes me that the risk of holding a small, passive position, is small. So for the average retail investor, which ETFs do you acolytes like? Schwab has BITX? How would a person determine what the best BTC fund might be?

There’s really no difference in the fees of any of the BTC ETFs. I use Fidelity ($FBTC) because they’ve been into BTC for over a decade mining Bitcoin and with the ETF they offer, the $BTC purchased is in a wallet they developed and custodian. All the others are held through Coinbase (if that makes a difference to you).
 
Experts recommend no more than 5%.
Well, given that crypto is at about 4 trillion market cap and the total world stock market is about 109 trillion.

We are close to that 5% already.

If bit coin goes up to 1 million per coin...it would be 20%.

Do people really think that the whole world would invest 20% of their portfolio in an investment that generates 0 revenue

So once the ROI drops on Bitcoin (at whatever price it stabilize s at) , then what happens when all those whales bought in at 10k per coin start selling...

Then ROI drops further. Then more sell..and less buy (why buy when ROI is +/- 3 %)...and there it goes

But hey, i am sure people will buy because its.. decentralized and fungible....ok
 

I’m the kind of guy to lose my key which is why I’ve only ever held GBTC converted to FBTC when it became available. Don’t think I’m alone so the ETFs were a big deal when they came out.
 
Well, given that crypto is at about 4 trillion market cap and the total world stock market is about 109 trillion.

We are close to that 5% already.

If bit coin goes up to 1 million per coin...it would be 20%.

Do people really think that the whole world would invest 20% of their portfolio in an investment that generates 0 revenue

So once the ROI drops on Bitcoin (at whatever price it stabilize s at) , then what happens when all those whales bought in at 10k per coin start selling...

Then ROI drops further. Then more sell..and less buy (why buy when ROI is +/- 3 %)...and there it goes

But hey, i am sure people will buy because its.. decentralized and fungible....ok


Your first mistake was to compare bitcoin to only the total world stock market. You need to compare it to total world wealth including real estate and metals. Try again buddy. Thanks for playing though
 
Does total world wealth also include value of military assets and intellectual properties? How about priceless items like art or religious items? Are we winning yet?
You are not winning anything. Of course you’re not including military assets or art. Do the financial analysts do that? Of course not. But they’ve started including bitcoin.
 
Does total world wealth also include value of military assets and intellectual properties? How about priceless items like art or religious items? Are we winning yet?

Religious items? Are you high bro? All I’m saying is comparing bitcoin world wealth that doesn’t even involve other Metals such as gold makes zero sense when that’s its main competitor and why people call it digital gold. They don’t call it God not sure why you’re bringing religion into this but whatever floats your boat
 
Last edited:
Religious items? Are you high bro? All I’m saying is comparing bitcoin world wealth that doesn’t even involve other Metals such as gold makes zero sense when that’s its main competitor and why people call it digital gold. They don’t call it God not sure why you’re bringing religion into this but whatever floats your boat

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.
 
I thought we were playing a game one upping each other on forgetting to include items of value like when you brought up all of the precious metals and real estate in the world as some sort of critical item missing from a world stock portfolio as a gotcha. Art and historical items have immense value, you forgot those too. And also weapons, military armaments, spacecraft, intellectual properties, intelligence for blackmail etc. I'm sure there are more.
 
Your first mistake was to compare bitcoin to only the total world stock market. You need to compare it to total world wealth including real estate and metals. Try again buddy. Thanks for playing though
Not really.

Generally, when people describe a portfolio, they refer to stock diversification, which includes REITS, mining companies, metals etfs, bonds, foreign, etc.

The vast majority of folks who that advice applies to, do not directly own real estate investments or precious metals.

Thats because, in part, physical real estate and to a lesser extent, physical metals, are much more difficult to liquidate in order to buy bitcoin. Versus rebalancing a "portfolio"

And you could argue that, since Bitcoin is supposed to be digital gold, that your portfolio should by 5% gold/bitcoin in totality, not 5% gold plus 5% Bitcoin plus 5% silver, etc

Nice try
 
Religious items? Are you high bro? All I’m saying is comparing bitcoin world wealth that doesn’t even involve other Metals such as gold makes zero sense when that’s its main competitor and why people call it digital gold. They don’t call it God not sure why you’re bringing religion into this but whatever floats your boat
Yes, and guess what, they also recommend that your total stock portfolio be compromised of 5% precious metals.

They dont base it on total real estate wealth, or what oil wells you own, or your collectible car collection.
 
@rowsdower88 yea if you knew crypto you'd understand why thats not really a religious statement. Its called "God's money" because its incorruptible, decentralized, immutable, uncensorable, fair and equitable etc etc.

Im shocked just how little some people on here actually understand bitcoin on a fundamental level.
 
@rowsdower88 yea if you knew crypto you'd understand why thats not really a religious statement. Its called "God's money" because its incorruptible, decentralized, immutable, uncensorable, fair and equitable etc etc.

Im shocked just how little some people on here actually understand bitcoin on a fundamental level.

I don't understand it on a fundamental level.

I do think calling bitcoin "God's money" is funny.
 
You could call it funny. Its just euphemistic. Like when somebody says “this is Gods work”. People call it Gods money because its like as close to what God would probably intend money to be like.

Bitcoin might go to a million dollars, I don't know.

I'll still think it's funny to believe it's "as close to what God would probably intend money to be".
 
You could call it funny. Its just euphemistic. Like when somebody says “this is Gods work”. People call it Gods money because its like as close to what God would probably intend money to be like.

if btc hits the 150-170 range this cycle. Is a 300k target for 2030 considered super bearish?
 
if btc hits the 150-170 range this cycle. Is a 300k target for 2030 considered super bearish?
i think so. just remember if it stays in line with its own cycle, it will pull back next year before it pumps again. Michael Saylor seems to think that wont happen. That we're past that, and that it will just continue to go up from here. Im prepared for either schenario. I have enough that I dont necessarily need to buy more, but I will if it pulls back.
 
i think so. just remember if it stays in line with its own cycle, it will pull back next year before it pumps again. Michael Saylor seems to think that wont happen. That we're past that, and that it will just continue to go up from here. Im prepared for either schenario. I have enough that I dont necessarily need to buy more, but I will if it pulls back.

it just seems insane to me that i could 2-3x my nw by the end of the decade with the super bearish numbers. just seems unreal and silly.

150 to 300 in 4 years is a cagr of 18.9%

I know it will get to 1% of total global market from the 0.2 or 0.25 it is today. Just not sure when. Slowly then quickly is how things seem to be going.
 
Last edited:
Bitcoin might go to a million dollars, I don't know.

I'll still think it's funny to believe it's "as close to what God would probably intend money to be".
Well, thats because you dont understand WHAT IT IS. That should tell you something. Maybe try learning about it instead of just $hitting on it from a place of ignorance.
 
it just seems insane to me that i could 2-3x my nw by the end of the decade with the super bearish numbers. just seems unreal and silly.
It is insane. But it is what it is. Thats just how awesome and amazing it is. It truly is priceless money in my honest opinion. It will continue to appreciate against all fiat currencies and it will continue to steal capital from all other asset classes. Including art 🙄.
 
Well, thats because you dont understand WHAT IT IS. That should tell you something. Maybe try learning about it instead of just $hitting on it from a place of ignorance.

For the record, I'm not $hitting on bitcoin. I'm $hitting on bitcoin evangelism. It might reach a million dollars a coin, I dunno.

I don't know what's in Pike Place Chowder's Clam Chowder, but I think it's as close as God would intend Clam Chowder to be.
 
It is insane. But it is what it is. Thats just how awesome and amazing it is. It truly is priceless money in my honest opinion. It will continue to appreciate against all fiat currencies and it will continue to steal capital from all other asset classes. Including art 🙄.

Yeah. just was told by a clinic i work at that i would be seeing 1 extra patient per hour starting in 1 mo and nothing about if i would agree to that or i would be ok with it. Cant' wait to throw the middle finger sooner than later and get out of the clown show. in btc we trust.
 
Top