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  1. #4576
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    Quote Originally Posted by byates1 View Post
    I'm sorry. I know some people masturbate to this guy here (and elsewhere). But he really comes across as a moron. Super-uber moron. Not sure why I think that. Probably because he sounds just so very scamervy* to me. He's like a life like ELMO doll that shits crypto shitcoins (Bitshares) and only thinks of money (the reason he left Ethereum). I think we'll read about him in regards to the SEC at some point. I just get those FEELINGS. I could be wrong. Not trying to influence anyone's holdongs* here. There are so many crypto douchnuzzles*** - and he might be one. Also reminds me of a Saylor crossed with someone with a coffee deficit syndrome. Not as smart (or stupid) as Saylor but clearly not as wired on good coffee either.



    * Scamervy: a word that means that whatever things a person touches or leaves turns out to be a scam or vitamin C deprived. SCAM + EVERY + SCURVY.
    ** Holdongs: far as holdings relate to crypto. Generally speaking. HOLD + DONGS.
    *** Douchnuzzles: as far a crypto goes, many douches seem to hang out together (the nuzzling part). DOUCH + NUZZLES.
    Last edited by puregravity; 05-29-2021 at 01:49 PM.
    OH, MY GAWD! ―John Hillerman  Big Billie Eilish fan.
    But that's a quibble to what PG posted (at first, anyway, I haven't read his latest book) ―jono
    we are not arguing about ski boots or fashionable clothing or spageheti O's which mean nothing in the grand scheme ― XXX-er

  2. #4577
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    Quote Originally Posted by puregravity View Post
    You have a point (if it makes you feel better). But you aren't addressing the problems people have with Bitcoin or the [ponzi,hyip,scammery,BS,lying] scheme that it IS and/or is part of. But yes, there are lots of hypocrisies in life.
    But sir, you're not taking the problems people have with TradFi seriously.

    https://www.google.com/amp/s/www.cnb...ls-trades.html

    https://en.m.wikipedia.org/wiki/Libor_scandal

    https://www.google.com/amp/s/www.buz...g-drug-cartels

    https://en.m.wikipedia.org/wiki/Well..._fraud_scandal

    https://www.icij.org/investigations/panama-papers/



    Sent from my Pixel 4 XL using Tapatalk

  3. #4578
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    Quote Originally Posted by TahoeJ View Post
    Both, I guess.

    Keep in mind I disagree with both extreme ends of this argument.

    Crypto in theory was awesome but it devolved into something else altogether, but itís also not a scam anymore than the regular market.
    I think I partially agree, insofar as you and I think that the extremes aren't useful. But to say it isn't a scam anymore than the real market denies the fact that the real market is backed by real money, by real products and services we use everyday, by insured deposits, by regulations, by generally intelligent analysis. It could be easily argued that the crypto market is none of these things.

    BTW - Here is my backstory. Kinda explains my views a bit. And this also explains why I think crypto is a standout (tulipmania aside).
    OH, MY GAWD! ―John Hillerman  Big Billie Eilish fan.
    But that's a quibble to what PG posted (at first, anyway, I haven't read his latest book) ―jono
    we are not arguing about ski boots or fashionable clothing or spageheti O's which mean nothing in the grand scheme ― XXX-er

  4. #4579
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    LOL. Yes. There are LOTS more of these insanities in life. You should start your own crypto token. Name it 'whataboutchain'. Give it the symbol "WHAT". Use Proof-of-What security. Then you build each block by creating a linked list of crypto's most popular whataboutisms. No transaction becomes settles unless you hash them all with the latest whataboutism. Will have the added effect of advancing crypto through clever whatabout memes.

    PS - I might do that. I'll create it as a token on the Ethereum blockchain and allow people to deposit a few ether for the privilege of recording a yet unspoken whataboutism. Time for an investor Dog and What Pony show!!
    OH, MY GAWD! ―John Hillerman  Big Billie Eilish fan.
    But that's a quibble to what PG posted (at first, anyway, I haven't read his latest book) ―jono
    we are not arguing about ski boots or fashionable clothing or spageheti O's which mean nothing in the grand scheme ― XXX-er

  5. #4580
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    Quote Originally Posted by frorider View Post
    Iím just here for teh lulz
    Sounds like what keeps people playing golf. People measure their ability by the best shot they ever hit.

  6. #4581
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    Quote Originally Posted by Benny Profane View Post
    Hardly anybody has any savings (and chasing funny money schemes doesn't help), and there really isn't any inflation to speak of.
    Thanks for corroborating my point about people's money being devalued by the government. You seriously need to do some more research about the history of money, currency debasement, and BTC's revolutionary solution to the Byzantine General's problem. Perhaps you'll find that BTC is the hardest money we've ever had and very very far away from funny money.

    https://news.bitcoin.com/triple-entr...erals-problem/

    And also, no inflation? Lol what? Even the US government is on record now stating that CPI is tracking higher than expected. And of course CPI is bullshit and vastly understates inflation.

    Big problems are ahead. The Fed is largely out of ammo and can't raise rates without major shit starting to unravel. Read this link I posted above. The writing is on the wall man, whether you want to accept it or not. But hey, you're an upper middle class white guy who will probably coast off into the sunset before suffering much consequence. But the Millennials and Zoomers, they should be very worried. There's a storm coming. Crypto will be a lifeboat for many. It already has been for me.
    https://cryptohayes.medium.com/farb-...o-de6f5bb7a099

    Sent from my Pixel 4 XL using Tapatalk

  7. #4582
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    My safety deposit box full of conflict diamonds is gonna be my lifeboat.

  8. #4583
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    Quote Originally Posted by stalefish3169 View Post
    Thanks for corroborating my point about people's money being devalued by the government. You seriously need to do some more research about the history of money, currency debasement, and BTC's revolutionary solution to the Byzantine General's problem. Perhaps you'll find that BTC is the hardest money we've ever had and very very far away from funny money.

    https://news.bitcoin.com/triple-entr...erals-problem/

    And also, no inflation? Lol what? Even the US government is on record now stating that CPI is tracking higher than expected. And of course CPI is bullshit and vastly understates inflation.

    Big problems are ahead. The Fed is largely out of ammo and can't raise rates without major shit starting to unravel. Read this link I posted above. The writing is on the wall man, whether you want to accept it or not. But hey, you're an upper middle class white guy who will probably coast off into the sunset before suffering much consequence. But the Millennials and Zoomers, they should be very worried. There's a storm coming. Crypto will be a lifeboat for many. It already has been for me.
    https://cryptohayes.medium.com/farb-...o-de6f5bb7a099

    Sent from my Pixel 4 XL using Tapatalk
    If your storm arrives and shit unravels, no one is going to care about virtual money. I assume youíre talking about social unrest. I donít think youíre looking at this in the larger scope of things. Crypto currency is just like the speculative tech market of the lateí90s but worse, thereís absolutely nothing to it that has any tangible value. The current system sucks but in my opinion, I donít think virtual Monopoly money is the answer. Other than this place, I live in the real world.


    Sent from my iPhone using TGR Forums

  9. #4584
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    Quote Originally Posted by stalefish3169 View Post
    Thanks for corroborating my point about people's money being devalued by the government. You seriously need to do some more research about the history of money, currency debasement, and BTC's revolutionary solution to the Byzantine General's problem. Perhaps you'll find that BTC is the hardest money we've ever had and very very far away from funny money.

    https://news.bitcoin.com/triple-entr...erals-problem/

    And also, no inflation? Lol what? Even the US government is on record now stating that CPI is tracking higher than expected. And of course CPI is bullshit and vastly understates inflation.

    Big problems are ahead. The Fed is largely out of ammo and can't raise rates without major shit starting to unravel. Read this link I posted above. The writing is on the wall man, whether you want to accept it or not. But hey, you're an upper middle class white guy who will probably coast off into the sunset before suffering much consequence. But the Millennials and Zoomers, they should be very worried. There's a storm coming. Crypto will be a lifeboat for many. It already has been for me.
    https://cryptohayes.medium.com/farb-...o-de6f5bb7a099

    Sent from my Pixel 4 XL using Tapatalk
    Then why not gold, if that's your problem. Much more stable. And has a history.

    The world is perfect. Appreciate the details.

  10. #4585
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    Quote Originally Posted by stalefish3169 View Post
    This is why I continue to point out that you argue in bad faith with incorrect information. BTC transactions are running around 11 dollars today, or almost free on the the second layer lightning network.

    https://ycharts.com/indicators/bitco...e%20year%20ago.

    I sent a bank wire a few days ago that took almost 24 hours and got charged $30 in total by both the sending and receiving institutions.

    How much does Western Union charge immigrants sending remittances home to their poor families?
    lol. This topic has come so many times. There are now apps for sending remittances that cost less than bitcoin. It's now a joke to argue otherwise.

    The Fintech Apps Remitly and Wise, for example, not only cost less than Western Union they also cost less than bitcoin, less than $8 to send $1000.

    Meanwhile, even though bitcoin fees today average just under $12, a week ago it was $23, and a month ago $63. The fact that fees are lower today compared to another time in the recent past is hardly arguing in bad faith.

    Average Bitcoin transaction fees vary and can spike during periods of congestion. What happens when a poor family needs to send money in an emergency? Are they supposed to wait for a slow Sunday or suck it up and pay $60 or whatever the case might be on the day they need to send it?

  11. #4586
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    Bitcoin....who's gotten into it?

    Quote Originally Posted by stalefish3169 View Post
    Warren Buffett and Charlie Munger call BTC rat poison squared and against the interest of human civilization while they shill Coca-Cola to a nation with an obesity epidemic.

    Jeff Bezos is okay with his drivers shitting in bags to keep profits up.

    Rayhtheon and GE profit off of making weapons that turn brown people into pink mist.

    Is this the kind of value we should be looking for?

    Sent from my Pixel 4 XL using Tapatalk
    Exactly. Iím not a crypto fan boi but the ethical hypocrisy is incredible. Profits have been feasted upon pain and misery since the beginning of currency.

    Letís be honest, that so called American exceptionalism was built on the backs of slaves, for example.
    I ski 135 degree chutes switch to the road.

  12. #4587
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    I just donít understand how BTC is this hard asset that can devalue by 50% after an Elon tweet or another round of China hate.

    The big banks ran the market down, are now investing and will run the market up again sucking more people in then they will sell again .

    After a few cycles of this the people wonít fall for it and they can kill it or the banks will own the majority and it will be come synonymous with evil big banks of the present.

    Institutional adoption will be the downfall.
    Reminds me of Communism. On paper it sounds great until you try it out.

    The crypto scene is ripe with religious fervor.
    Buy the dip!

  13. #4588
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    Quote Originally Posted by stalefish3169 View Post
    Perhaps you'll find that BTC is the hardest money we've ever had and very very far away from funny money.

    Read this link I posted above.
    People should stop calling bitcoin hard money when there's little evidence that's the case. On the day we saw the fastest inflation data in years, this is what Bitcoin did. Let that sink in:

    Name:  E1MxS.jpg
Views: 165
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    Also, I read your link and the author fails to get basic facts right starting with his initial premise from which the rest follows. The Fed is not doing "nominal GDP targeting" and the Fed says it has no plans to do NGDP targeting.

    Arthur Hayes doesn't even understand what NGDP targeting is. If he did, he'd know that he's got things backwards.

  14. #4589
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    Quote Originally Posted by TahoeJ View Post
    Exactly. I’m not a crypto fan boi but the ethical hypocrisy is incredible. Profits have been feasted upon pain and misery since the beginning of currency.

    Let’s be honest, that so called American exceptionalism was built on the backs of slaves, for example.
    You've repeatedly said bitcoin is a way for you to make some easy money. That's fine. But to then turn around and lecture about ethical hypocrisy in favor of something whose killer app is ransonware and burning coal seems like the wrong hill to die on, doesn't it?

  15. #4590
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    Bitcoin....who's gotten into it?

    We arenít going to sit here and pretend that most stock prices are connected to actual earnings and growth potential, right? I mean, sure, sort of sometimes, but plenty of evidence to suggest otherwise aside from the extremes of growth or failure. Mostly talking about all of the swings in between.

    Itís all (mostly) speculation and gambling.
    I ski 135 degree chutes switch to the road.

  16. #4591
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    Bitcoin....who's gotten into it?

    Quote Originally Posted by MultiVerse View Post
    You've repeatedly said bitcoin is a way for you to make some easy money. That's fine. But to then turn around and lecture about ethical hypocrisy in favor of something whose killer app is ransonware and burning coal seems like the wrong hill to die on, doesn't it?
    Iím not dying on any hill. Like I said Iím just in the game and recognize it for what it is. Not a believer, not a hater. Also not lecturing anyone, just calling out those who are!
    I ski 135 degree chutes switch to the road.

  17. #4592
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    So you're a nihilist?

    Quote Originally Posted by TahoeJ View Post
    We aren’t going to sit here and pretend that most stock prices are connected to actual earnings and growth potential, right? I mean, sure, sort of sometimes, but plenty of evidence to suggest otherwise aside from the extremes of growth or failure. Mostly talking about all of the swings in between.

    It’s all (mostly) speculation and gambling.
    In the short run the stock market is a random walk, in the long run prices for the most part follow key fundamentals.

  18. #4593
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    Buffett/Munger has said basically the same thing about gold. They earn nothing and therefore cost money to hold.

  19. #4594
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    Bitcoin....who's gotten into it?

    Quote Originally Posted by MultiVerse View Post
    So you're a nihilist?
    Nope. Just care about the shit that actually matters.

    Decades upon decades of destroying this planet and now bitcoin is the concern? Fuck that noise, itís polishing brass on the Titanic.
    I ski 135 degree chutes switch to the road.

  20. #4595
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    Why not both?

  21. #4596
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    I care about the grid, not how the electricity is being used. As if one small aspect of that is the real problem. Itís a joke. It was a problem before crypto was a thing. Itís just short-sighted and looking past the real problem.
    I ski 135 degree chutes switch to the road.

  22. #4597
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    If you told me that Bitcoin was destroying the planet but I had a 2% chance of winning a million Bitcoin bucks in the next year. Sorry planet. I'm in.
    Not saying that's the depth of my depravity ....
    BUT IT IS! LOL
    OH, MY GAWD! ―John Hillerman  Big Billie Eilish fan.
    But that's a quibble to what PG posted (at first, anyway, I haven't read his latest book) ―jono
    we are not arguing about ski boots or fashionable clothing or spageheti O's which mean nothing in the grand scheme ― XXX-er

  23. #4598
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    It all comes down to (1) what are the odds, and (2) how much does it cost to play. Any concerns about the environment will probably cause just mild cognitive dissonance. Even that can be assuaged by reading a few greenwashed articles and thinking about how I'm helping "bank the unbanked." The real problem is that people miscalculate #1 and #2. The odds aren't that good and the cost to play is both a complex equation and easy to underestimate.
    OH, MY GAWD! ―John Hillerman  Big Billie Eilish fan.
    But that's a quibble to what PG posted (at first, anyway, I haven't read his latest book) ―jono
    we are not arguing about ski boots or fashionable clothing or spageheti O's which mean nothing in the grand scheme ― XXX-er

  24. #4599
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    https://insights.glassnode.com/surve...2021-sell-off/
    Concluding Summary
    In this piece we have explored a number of metrics and indicators that describe the market structure before, during and after one of Bitcoin's most spectacular (and terrifying) sell-offs. In summary, there are a number of bull and bear cases which may be interpreted from the available data:

    For the Bears
    Institutional demand clearly softened from February and the resulting supply sink/squeeze was largely dissipated.
    The balance on exchanges has increased meaningfully resulting in large volumes of coins and overhead supply that must now be re-accumulated.
    Stablecoin prices leading into the Coinbase listing suggested distribution was underway and old hands were spending immediately prior to the sell-off.
    A huge volume of short term holders remain underwater, and long term holder unrealised gains are on a historical knifes edge coincident with past bear markets.
    For the Bulls
    Institutional products GBTC and the Purpose ETF are showing signs of recovery despite collapsing prices providing early signs of renewed institutional interest.
    Whilst exchange balances have increased, a more nuanced view indicates a difference between US-regulated and offshore exchanges. There may be a jurisdictional bias at play.
    Stablecoin prints have expanded dramatically creating the largest crypto-native dollar buying power on the sidelines in history.
    The majority of selling appears to have been short term holders, whilst long term holders appear to have bought the dip with increasing conviction.
    Few have made the claim that HODLing Bitcoin was easy, and for many, the volatility seen last week is all part of the ride. What is clear is that the sell-off was of a significant scale, and a large volume of buyers are currently underwater. How the market recovers from here will no doubt be a test of market conviction amidst what continues to be a favourable macro backdrop for digital scarcity.
    Live each season as it passes; breathe the air, drink the drink, taste the fruit, and resign yourself to the influences of each.
    Henry David Thoreau

  25. #4600
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    The world is perfect. Appreciate the details.

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