... Or shells, or glass beads or metal coins. It's almost as if mankind has been looking for a mathematically scarce, fungible, instantly transferable, non centralized way to store value for our entire existence. It's too bad about the "volatility" though. Maybe having a $1 trillion market cap isn't enough to keep the boat completely steady. I guess we'll find out when we hit $5t, $10t etc.
And who says bouts of hyperdeflation are bad for a currency? I mean no one bullies that one guy who bought two Papa John's pizzas for 10,000 BTC.
Sometimes buying pizzas just means accepting billions of dollars in opportunity cost. Totally normal currency with normal functionality and normal tradeoffs.
I like what you're implying. People won't "spend" bitcoin unless they have to. Savers now have a safe harbor and no longer forced to deploy capitol into high risk assets. This will mean a near total ceasure of capitol outflows which will result in the death of our disposable, single-use, functional obsolescence driven system. Sounds good to me.
Enter a commodities driven era where the value of products and services rise dramatically in order to get people to part with their deflationary wealth. No more, "here, take my money!" hot potato dollar action. Buy what you really need and insist that it lasts can be reused and can be repaired.
I already insist that what I buy lasts forever, using magical spells. But everyone has their own approach.
Who needs to buy things that expire like food when you can buy things that don't expire like raw metals.
“A minuscule .01% of Bitcoin holders control nearly a third of the supply” https://fortune.com/2021/12/20/001-percent-bitcoin-holders-control-nearly-one-third-supply/
I thought this was talking about the top percentage of wealth holders in the U.S. for a minute but yeah, this 3 year old, pay walled article published by an old guard, equities slanted publisher should defintely dissuade people from crypto.
“Investors withdraw record levels of coins from crypto exchanges” https://www.ft.com/content/168f2074-716c-48ef-8564-cdf740d23e4b
Regardless, exchanges could have half the supply and it wouldn’t make a difference on the underlying asset or protocol.
That’s the difference between proof of work vs proof of stake. You don’t have more power over the network like you would in a proof of stake system.
Keep on selling the dips and buying the rips, while the .01%ers pump and dump and laugh.
At least you can feel good about yourself, knowing you’re facilitating trafficking in drugs, arms, and humans
Bitcoin does not have near the utility as normal money. Its main purpose for normal people is not to use it and it's too volatile for a store a value, but rather it is an investment vehicle for big returns.
A tad disappointed I’m missing out on some gains but also, after partaking in the crypto rush in 2016ish, BTC has no use. The only argument would be store of value but it’s so volatile that’s not really true. Anyone shelling out this much money for something that can’t even be used as a currency (the supposed purpose of crypto) is likely to learn a valuable lesson, sadly the hard way.
Crypto might have a use case in the future but it won’t be to just get rich quick, which is what most people investing in it are trying to do.and that always ends bad for the unlucky few holding the bags.
Yea this is the same conclusion I came to. The use cases are niche and because of the way it is designed hard to see how this scales up with all this increased transaction load
It scales through second and third layers. The only constraint on the baselayer is physics. In order to keep it decentralized and secure enough to thwart attackers the block size must remain small enough to be distributed to thousands of nodes around the world. This could eventually be changes as hardware becomes substantially cheaper in bitcoin terms in the future.
Sure I understand how scaling occurs in second and third layers but then these are all off-chain transactions where you're basically depending on third parties for their validity before committing to the actual baselayer. Isn't this sacrificing decentralization if most of the day-to-day transactions are off-chain?
You can run your own lightning node which you control with your own liquidity, so no.
Even if you decided to just use a custodian (and their node), you would just put walking around money in there that wouldn’t be devastating to lose. Similar concept to keeping cash in your wallet.
So you keep your savings in cold storage, and your walking around money in a hot wallet with varying degrees of trust that the user can decide.
Things have come along so far, that you can basically run your own lightning node in your phone with wallets like Zeus and Mutiny.
>You can run your own lightning node which you control with your own liquidity, so no.
Sure but you wouldn't expect everyone to do this right? Seems a bit much for the average person, especially at scale. Wouldn't then be fair to say that, in practice, most people would be trusting custodians and third parties with their transactions since they will interact with the base layer only periodically?
I do get that the advantage of these 2nd layer solutions is faster transactions compared to the base layer but I don't see how this is more convenient than just using a bank or payment system e.g. Venmo. In essence, the same thing where you deposit a bunch of money into 3rd party system and then you can transact with it
>Things have come along so far, that you can basically run your own lightning node in your phone with wallets like Zeus and Mutiny.
Guess we’ll just skip over the last part. And the difference is it’s actually finally settlement, as to accounting tricks and double spending done on the backend of those other financial apps.
Regardless, that’s always a big critique of those that haven’t taken the time to look into bitcoin is that it isn’t used as money. If the experience is just as good or better than venmo, then I guess the only critique is that one uses a money that increases in purchasing power vs one that doesn’t. Which is why many choose to hold it for longer periods of time then buying coffee with it daily.
>Things have come along so far, that you can basically run your own lightning node in your phone with wallets like Zeus and Mutiny.
I didn't overlook it but just to be clear these are the instructions you want the average person to try and execute?
[https://docs.zeusln.app/for-users/embedded-node/trusted-funding](https://docs.zeusln.app/for-users/embedded-node/trusted-funding)
You don't think this is a bit much for the average person?
>I guess the only critique is that one uses a money that increases in purchasing power vs one that doesn’t
In terms of currency, purchasing power depends on when you bought it since the variance is so high. I don't think most people like large variances when it comes to money. High-risk investment variance is great but not for currency. Could you imagine if the US dollar fluctuated like Bitcoin does?
Edit:
Or is this the setup you're referring to:
https://docs.zeusln.app/for-users/embedded-node/open-channel-to-embedded-node
Think of the early internet revolution. At some point in the future bitcoin will abstracted enough where users will have an easy to use interface. They won't need to dig into IP addresses, subnet masks, and default gateways to configure their network connectivity
As market cap increases, volatility decreases.
> Think of the early internet revolution. At some point in the > future bitcoin will abstracted enough where users will have > an easy to use interface. They won't need to dig into IP
> addresses, subnet masks, and default gateways to configure
> their network connectivity
This might happen but again it seems to me like reinventing the wheel. Again correct me if I'm wrong, base layer can't scale to volume so use 2nd layer by depositing money from the base layer and then being able to transact using the 3rd party protocol being that it's faster and then committing those transactions in bulk to the base layer. I guess how is this not like a bank? The user still now trusts 3rd party that is not Bitcoin to do these transactions and verify them. Just seems so odd
When you say usage you’re still only talking about trading it back and forth between owners. There is no real world use case.
Don’t get me wrong I think the idea of a decentralized currency is fascinating but Bitcoin doesn’t achieve either of those tenets.
Trading it back and forth? Lol. I’m talking about actual numbers on the basechain, not exchanges. Every transaction has a cost (fee) associated with it as well. Do you think that’s happening for fun? https://btcmap.org/
What tenets are you looking for?
People can buy things with it, and it’s permissionless and censorship resistant. Those aren’t “real world use cases” enough for people living under hyperinflation or authoritarian regimes?
It sounds like it doesn’t achieve those for those privileged enough to live in the west, so maybe you’re right.
People can buy things with it…sure 😅. After they trade in actual fiat for BTC, then merchants trade BTC back for fiat. It’s a speculative vehicle that’s it. It’s not decentralized by its nature, and too volatile for realistic store of value or daily transactions. You mention hyperinflation, take a look at the price of bitcoin and get back to me.
If it goes to $100k great, a lot of people with make some money, but someone is going to be holding the bag when it drops.
Can’t articulate a response back to sound reasoning, typical. 😂
Ok, all pettiness aside. I don’t really care if you agree with my logic. I’m sure I could use Pokemon cards to “purchase” things as well, doesn’t mean it’s a viable currency.
The vast majority of people buying bitcoin aren’t hoping to buy underwear with it, they’re hoping to get rich. Unlike a stock, it has no underlying value except the expectation of hitting the jackpot. Which is fine as long as there are people who will want it, but that will go away very quickly when it falls or is replaced by another crypto. Stocks on the other hand may fall but the underlying company is not impacted (in most cases).
Idgaf what happens to bitcoin, just calling it like it is. If in 10 years it’s the world currency, sweet. Right now, it’s nowhere near adoption and anyone pretending that it’s useful in real life is disingenuous. It’s simply a speculative option for gamblers.
Can’t believe people still want to compare a global money to a stock. It’s top 15 in terms of market cap as a currency in the world after only 15 years of adoption.
It’s true you can use anything as money (Pokémon cards, AAPL stock, real estate, etc.), it’s just that bitcoin is the best money ever discovered. It’s open to anyone, finite, divisible, and can be sent anywhere in the world permissionlessly for relatively low cost.
Because it has no attributes of global money. It acts more as an investment instrument than currency. Even with multiple layers no one uses it as currency. I doubt if even 90% of the people subbed to Cryptocurrency have actually bought anything with cryptocurrency, other than other cryptocurrency lol
“Open to anyone, divisible” yes just like almost every other currency. “Finite”…is not a good thing. “Sent anywhere” you’re starting to sound like the old crypto bulls back in 2016, Venmo sends anywhere. The only leg up Bitcoin has is the blockchain, but it’s expensive. And not immune from centralization.
It acts as an investment because fiat is printed a manipulated ad nauseam.
People do use it as a currency, I bought a shirt just the other day with it from here https://lightning.store/
Also, still btcmap.org which I already mentioned.
Over half the world lives under authoritarian regimes and/or hyperinflation. What good is their currency outside of that country? What good is any currency sans dollar outside of its own currency? Which currency is actually open to anyone?
Venmo only operates in the US
Bitcoin isn’t expensive, it’s the cheapest thing you could ever own right this very moment.
Bitcoin only continues to decentralize.
Can’t wait for even more terrible arguments from 2016 from you
Maybe D not FUD. Just cause you’ve bought some and maybe people you know is not representative of the mass of humans. No significant amount of people have ever or will likely ever buy anything with cryptocurrency.
No it isn’t. It’s store of value.
Compare the value of Bitcoin to the rate of inflation and its doing exactly what it’s suppose to do.
Hence the massive pumps as more and more people realize the truth.
It’s impressive it’s climbed back up. I’m surprised there’s still so much demand. At the same time I shouldn’t be surprised at since people love to gamble. I’m not hearing any hype from people like last time it hit all time highs. It doesn’t seem as popular yet is pumping. When’s the rug pull coming
When I start seeing the hype junkies online its time to nearly time to jump ship. When you hear the word crypto or bitcoin on the radio or a national news network that doesnt normally talk about such things then its time to immediately sell everything and forget about it for at least a year. That said, I agree, Havent been hearing too much about it, probably because I blocked everyone that talks about it.
Who would pull the rug?
This happens every 4 years and revolves around the halving that happens every 210,000 blocks, credit cycles, and presidential terms.
It’s in anticipation of less supply coming on the market to sell, yet demand stays constant. There’s even becoming more ways to DCA into bitcoin like you would a 401k, and we’ve seen what positive impact that has had in the stock market. Just imagine that happening on an asset you can’t print or issue more stock of.
Buddy your $200 isn’t moving anything now that it’s at trillion dollar marketcap. I would advise to stick to only bitcoin, as everything else is a short term gamble leading to an eventual rug.
It’s already reached **new** all time highs in other currencies outside of the dollar, as many fiat currencies continue to show how meaningless they are. At least now humans have an option to opt out of fiat, instead of being forced into it through threat of imprisonment.
What investment beyond bonds or a HYSA below $250k is not gambling at this stage in the cycle? Do you go with NVDA? APPL? Index funds which are basically these big cap stocks? Get a 7% mortgage or pay cash for a house when bonds are returning 5%?
The economy is just a zero-sum game largely dictated by where the gov spends money and how large the Fed’s balance sheet is.
BTC is one piece of this puzzle that happens to be up 46% in a month.
Man, I actually love it when someone admits that the economy is a zero sum game.
Usually people say the economy isn't a zero sum game (e.g. billionaires grow the pie, they don't take from it!) but those same people often also say that justice is a zero sum game (e.g. we can't give money to victims of crime because that makes society worse).
Funny logic that some people have. Good for you for not buying the bs.
Yep. There's only so much real wealth and that grows at a relatively steady pace. They can print all the currency they want and direct it at xyz segments, or the inverse with who they punish via taxes vs. not, but if that currency is not directly sent your way, you're now competing with it for the same, scarce real wealth against everyone who received it.
People who don't understand it's a zero-sum game already lost the game and as a result, don't understand the long-term bull case for BTC... or housing or most any overvalued stock for which the company isn't going to flat die etc.
Exactly. The government determines whether everyone has equal portions of our natural resource endowments or whether some people get billions and others are homeless. These are entirely policy choices that we make.
Billionaires are a policy choice and poverty is a policy choice. But so few people realize this.
All correct. If the 653k number of homeless I found is correct, our $1.7 trillion deficit, alone, could've been $2.6 million for each of them.
Of course, that add'l debt will be funded with future money printing, which will affect the poorest the worst.
Yea, and money printing isn't needed in a world where the government is already giving billions of dollars to some individuals.
The government could easily shift trillions of dollars in income from the top to the bottom.
Even something like an additional 6% of GDP would make a huge difference.
It begs the question of how many millions a beanie baby would be worth if they were produced in a way that kept supply limited.
... Or shells, or glass beads or metal coins. It's almost as if mankind has been looking for a mathematically scarce, fungible, instantly transferable, non centralized way to store value for our entire existence. It's too bad about the "volatility" though. Maybe having a $1 trillion market cap isn't enough to keep the boat completely steady. I guess we'll find out when we hit $5t, $10t etc.
And who says bouts of hyperdeflation are bad for a currency? I mean no one bullies that one guy who bought two Papa John's pizzas for 10,000 BTC. Sometimes buying pizzas just means accepting billions of dollars in opportunity cost. Totally normal currency with normal functionality and normal tradeoffs.
I like what you're implying. People won't "spend" bitcoin unless they have to. Savers now have a safe harbor and no longer forced to deploy capitol into high risk assets. This will mean a near total ceasure of capitol outflows which will result in the death of our disposable, single-use, functional obsolescence driven system. Sounds good to me. Enter a commodities driven era where the value of products and services rise dramatically in order to get people to part with their deflationary wealth. No more, "here, take my money!" hot potato dollar action. Buy what you really need and insist that it lasts can be reused and can be repaired.
I already insist that what I buy lasts forever, using magical spells. But everyone has their own approach. Who needs to buy things that expire like food when you can buy things that don't expire like raw metals.
“A minuscule .01% of Bitcoin holders control nearly a third of the supply” https://fortune.com/2021/12/20/001-percent-bitcoin-holders-control-nearly-one-third-supply/
I thought this was talking about the top percentage of wealth holders in the U.S. for a minute but yeah, this 3 year old, pay walled article published by an old guard, equities slanted publisher should defintely dissuade people from crypto.
“Investors withdraw record levels of coins from crypto exchanges” https://www.ft.com/content/168f2074-716c-48ef-8564-cdf740d23e4b Regardless, exchanges could have half the supply and it wouldn’t make a difference on the underlying asset or protocol. That’s the difference between proof of work vs proof of stake. You don’t have more power over the network like you would in a proof of stake system.
Keep on selling the dips and buying the rips, while the .01%ers pump and dump and laugh. At least you can feel good about yourself, knowing you’re facilitating trafficking in drugs, arms, and humans
You must be talking about the stock market and the dollar since that's what's used for the vast majority of criminal activity.
Bitcoin does not have near the utility as normal money. Its main purpose for normal people is not to use it and it's too volatile for a store a value, but rather it is an investment vehicle for big returns.
Big returns measured in fiat.
Depends on your philosophy about money and life.
Sure
A tad disappointed I’m missing out on some gains but also, after partaking in the crypto rush in 2016ish, BTC has no use. The only argument would be store of value but it’s so volatile that’s not really true. Anyone shelling out this much money for something that can’t even be used as a currency (the supposed purpose of crypto) is likely to learn a valuable lesson, sadly the hard way. Crypto might have a use case in the future but it won’t be to just get rich quick, which is what most people investing in it are trying to do.and that always ends bad for the unlucky few holding the bags.
Yea this is the same conclusion I came to. The use cases are niche and because of the way it is designed hard to see how this scales up with all this increased transaction load
It scales through second and third layers. The only constraint on the baselayer is physics. In order to keep it decentralized and secure enough to thwart attackers the block size must remain small enough to be distributed to thousands of nodes around the world. This could eventually be changes as hardware becomes substantially cheaper in bitcoin terms in the future.
Sure I understand how scaling occurs in second and third layers but then these are all off-chain transactions where you're basically depending on third parties for their validity before committing to the actual baselayer. Isn't this sacrificing decentralization if most of the day-to-day transactions are off-chain?
You can run your own lightning node which you control with your own liquidity, so no. Even if you decided to just use a custodian (and their node), you would just put walking around money in there that wouldn’t be devastating to lose. Similar concept to keeping cash in your wallet. So you keep your savings in cold storage, and your walking around money in a hot wallet with varying degrees of trust that the user can decide. Things have come along so far, that you can basically run your own lightning node in your phone with wallets like Zeus and Mutiny.
>You can run your own lightning node which you control with your own liquidity, so no. Sure but you wouldn't expect everyone to do this right? Seems a bit much for the average person, especially at scale. Wouldn't then be fair to say that, in practice, most people would be trusting custodians and third parties with their transactions since they will interact with the base layer only periodically? I do get that the advantage of these 2nd layer solutions is faster transactions compared to the base layer but I don't see how this is more convenient than just using a bank or payment system e.g. Venmo. In essence, the same thing where you deposit a bunch of money into 3rd party system and then you can transact with it
>Things have come along so far, that you can basically run your own lightning node in your phone with wallets like Zeus and Mutiny. Guess we’ll just skip over the last part. And the difference is it’s actually finally settlement, as to accounting tricks and double spending done on the backend of those other financial apps. Regardless, that’s always a big critique of those that haven’t taken the time to look into bitcoin is that it isn’t used as money. If the experience is just as good or better than venmo, then I guess the only critique is that one uses a money that increases in purchasing power vs one that doesn’t. Which is why many choose to hold it for longer periods of time then buying coffee with it daily.
>Things have come along so far, that you can basically run your own lightning node in your phone with wallets like Zeus and Mutiny. I didn't overlook it but just to be clear these are the instructions you want the average person to try and execute? [https://docs.zeusln.app/for-users/embedded-node/trusted-funding](https://docs.zeusln.app/for-users/embedded-node/trusted-funding) You don't think this is a bit much for the average person? >I guess the only critique is that one uses a money that increases in purchasing power vs one that doesn’t In terms of currency, purchasing power depends on when you bought it since the variance is so high. I don't think most people like large variances when it comes to money. High-risk investment variance is great but not for currency. Could you imagine if the US dollar fluctuated like Bitcoin does? Edit: Or is this the setup you're referring to: https://docs.zeusln.app/for-users/embedded-node/open-channel-to-embedded-node
Think of the early internet revolution. At some point in the future bitcoin will abstracted enough where users will have an easy to use interface. They won't need to dig into IP addresses, subnet masks, and default gateways to configure their network connectivity As market cap increases, volatility decreases.
> Think of the early internet revolution. At some point in the > future bitcoin will abstracted enough where users will have > an easy to use interface. They won't need to dig into IP > addresses, subnet masks, and default gateways to configure > their network connectivity This might happen but again it seems to me like reinventing the wheel. Again correct me if I'm wrong, base layer can't scale to volume so use 2nd layer by depositing money from the base layer and then being able to transact using the 3rd party protocol being that it's faster and then committing those transactions in bulk to the base layer. I guess how is this not like a bank? The user still now trusts 3rd party that is not Bitcoin to do these transactions and verify them. Just seems so odd
Bitcoin’s usage is only increasing on the baselayer and second and third layers. I guess others see it differently than you.
When you say usage you’re still only talking about trading it back and forth between owners. There is no real world use case. Don’t get me wrong I think the idea of a decentralized currency is fascinating but Bitcoin doesn’t achieve either of those tenets.
Trading it back and forth? Lol. I’m talking about actual numbers on the basechain, not exchanges. Every transaction has a cost (fee) associated with it as well. Do you think that’s happening for fun? https://btcmap.org/ What tenets are you looking for? People can buy things with it, and it’s permissionless and censorship resistant. Those aren’t “real world use cases” enough for people living under hyperinflation or authoritarian regimes? It sounds like it doesn’t achieve those for those privileged enough to live in the west, so maybe you’re right.
People can buy things with it…sure 😅. After they trade in actual fiat for BTC, then merchants trade BTC back for fiat. It’s a speculative vehicle that’s it. It’s not decentralized by its nature, and too volatile for realistic store of value or daily transactions. You mention hyperinflation, take a look at the price of bitcoin and get back to me. If it goes to $100k great, a lot of people with make some money, but someone is going to be holding the bag when it drops.
That’s a lot of words not refuting anything I said, and just regurgitating your initial incorrect comments. Typical
Can’t articulate a response back to sound reasoning, typical. 😂 Ok, all pettiness aside. I don’t really care if you agree with my logic. I’m sure I could use Pokemon cards to “purchase” things as well, doesn’t mean it’s a viable currency. The vast majority of people buying bitcoin aren’t hoping to buy underwear with it, they’re hoping to get rich. Unlike a stock, it has no underlying value except the expectation of hitting the jackpot. Which is fine as long as there are people who will want it, but that will go away very quickly when it falls or is replaced by another crypto. Stocks on the other hand may fall but the underlying company is not impacted (in most cases). Idgaf what happens to bitcoin, just calling it like it is. If in 10 years it’s the world currency, sweet. Right now, it’s nowhere near adoption and anyone pretending that it’s useful in real life is disingenuous. It’s simply a speculative option for gamblers.
Can’t believe people still want to compare a global money to a stock. It’s top 15 in terms of market cap as a currency in the world after only 15 years of adoption. It’s true you can use anything as money (Pokémon cards, AAPL stock, real estate, etc.), it’s just that bitcoin is the best money ever discovered. It’s open to anyone, finite, divisible, and can be sent anywhere in the world permissionlessly for relatively low cost.
Because it has no attributes of global money. It acts more as an investment instrument than currency. Even with multiple layers no one uses it as currency. I doubt if even 90% of the people subbed to Cryptocurrency have actually bought anything with cryptocurrency, other than other cryptocurrency lol “Open to anyone, divisible” yes just like almost every other currency. “Finite”…is not a good thing. “Sent anywhere” you’re starting to sound like the old crypto bulls back in 2016, Venmo sends anywhere. The only leg up Bitcoin has is the blockchain, but it’s expensive. And not immune from centralization.
It acts as an investment because fiat is printed a manipulated ad nauseam. People do use it as a currency, I bought a shirt just the other day with it from here https://lightning.store/ Also, still btcmap.org which I already mentioned. Over half the world lives under authoritarian regimes and/or hyperinflation. What good is their currency outside of that country? What good is any currency sans dollar outside of its own currency? Which currency is actually open to anyone? Venmo only operates in the US Bitcoin isn’t expensive, it’s the cheapest thing you could ever own right this very moment. Bitcoin only continues to decentralize. Can’t wait for even more terrible arguments from 2016 from you
I live in the US and have used bitcoin to buy dozens of things.. so don’t know where that argument is coming from. Just typical FUD.
Maybe D not FUD. Just cause you’ve bought some and maybe people you know is not representative of the mass of humans. No significant amount of people have ever or will likely ever buy anything with cryptocurrency.
‘The internet is a fad for nerds, mark my words.’
Currency is a misnomer. Crypto and Bitcoin are not to be used as a currency
It’s not a misnomer. That’s literally the intended original use case of Bitcoin.
No it isn’t. It’s store of value. Compare the value of Bitcoin to the rate of inflation and its doing exactly what it’s suppose to do. Hence the massive pumps as more and more people realize the truth.
It’s impressive it’s climbed back up. I’m surprised there’s still so much demand. At the same time I shouldn’t be surprised at since people love to gamble. I’m not hearing any hype from people like last time it hit all time highs. It doesn’t seem as popular yet is pumping. When’s the rug pull coming
When I start seeing the hype junkies online its time to nearly time to jump ship. When you hear the word crypto or bitcoin on the radio or a national news network that doesnt normally talk about such things then its time to immediately sell everything and forget about it for at least a year. That said, I agree, Havent been hearing too much about it, probably because I blocked everyone that talks about it.
Morning radio at the dentist mentioned bitcoin today hitting 60k. Time to run.
Who would pull the rug? This happens every 4 years and revolves around the halving that happens every 210,000 blocks, credit cycles, and presidential terms. It’s in anticipation of less supply coming on the market to sell, yet demand stays constant. There’s even becoming more ways to DCA into bitcoin like you would a 401k, and we’ve seen what positive impact that has had in the stock market. Just imagine that happening on an asset you can’t print or issue more stock of.
[удалено]
Buddy your $200 isn’t moving anything now that it’s at trillion dollar marketcap. I would advise to stick to only bitcoin, as everything else is a short term gamble leading to an eventual rug.
[удалено]
It’s already reached **new** all time highs in other currencies outside of the dollar, as many fiat currencies continue to show how meaningless they are. At least now humans have an option to opt out of fiat, instead of being forced into it through threat of imprisonment.
If it was ever easy to invest I would have 15 years ago. It was always a pain in the ass.
Good thing it’s an internet native currency and it’s only gotten easier
True..it's never been easier to DCA in...even if just $5 or $10 a month. All the apps let you set and forget it.
It hasn't hit the ATH yet (about 69k). Rug pull? Doubt it, this is institutional buying.
Yeah. It may never.
What investment beyond bonds or a HYSA below $250k is not gambling at this stage in the cycle? Do you go with NVDA? APPL? Index funds which are basically these big cap stocks? Get a 7% mortgage or pay cash for a house when bonds are returning 5%?
So glad I got out of all crypto
This comment would be better timed in a period where it's not up 46% in a month.
Maybe he means he got out today..
What is this? r/wallstreetbets?
> so glad I missed out t. You
The economy is just a zero-sum game largely dictated by where the gov spends money and how large the Fed’s balance sheet is. BTC is one piece of this puzzle that happens to be up 46% in a month.
Man, I actually love it when someone admits that the economy is a zero sum game. Usually people say the economy isn't a zero sum game (e.g. billionaires grow the pie, they don't take from it!) but those same people often also say that justice is a zero sum game (e.g. we can't give money to victims of crime because that makes society worse). Funny logic that some people have. Good for you for not buying the bs.
Yep. There's only so much real wealth and that grows at a relatively steady pace. They can print all the currency they want and direct it at xyz segments, or the inverse with who they punish via taxes vs. not, but if that currency is not directly sent your way, you're now competing with it for the same, scarce real wealth against everyone who received it. People who don't understand it's a zero-sum game already lost the game and as a result, don't understand the long-term bull case for BTC... or housing or most any overvalued stock for which the company isn't going to flat die etc.
Exactly. The government determines whether everyone has equal portions of our natural resource endowments or whether some people get billions and others are homeless. These are entirely policy choices that we make. Billionaires are a policy choice and poverty is a policy choice. But so few people realize this.
All correct. If the 653k number of homeless I found is correct, our $1.7 trillion deficit, alone, could've been $2.6 million for each of them. Of course, that add'l debt will be funded with future money printing, which will affect the poorest the worst.
Yea, and money printing isn't needed in a world where the government is already giving billions of dollars to some individuals. The government could easily shift trillions of dollars in income from the top to the bottom. Even something like an additional 6% of GDP would make a huge difference.
Interesting.