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Thread: Bitcoin....who's gotten into it?
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01-30-2022, 10:18 PM #7051
If you are of that mindset, there are plenty of picks and shovels out there to explore. Look at shera and her linkies. Why she wouldn't hold eth blows my mind, but I know her, and she thinks differently than most people and I wish her all the lucks. I mean you can pull up a link/eth chart and show people, but this is an emotional game that is not rational, and people act accordingly.
Is it radix panax notoginseng? - splat
This is like hanging yourself but the rope breaks. - DTM
Dude Listen to mtm. He's a marriage counselor at burning man. - subtle plague
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01-30-2022, 10:31 PM #7052
This video is hot trash. Going back to my last post, where I called out the comment he makes that nobody in crypto knows anything about money for its absurdity, I'd like to present PhD economist and multibullion dollar portfolio manager, Ross Stevens to give the counterpoint on Bitcoin. He covers such topics as why "BTC is slow" is actually a fallacy and why BTC can be a great catalyst for green energy development.
https://www.youtube.com/watch?v=wA_f...ature=youtu.be
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01-30-2022, 10:55 PM #7053
So, digest this as you choose but you come across as too much as an adversarial shill on crypto to be trustworthy, credible or objective. When you do this sort ^framing on a video I just watched, I doubt your other narratives. It's a huge turn off and the weird push from cryptofans does nothing but raise red flags with me. But you do you.
Regardless, I've watched 17 min of your video and I think we may getting to something substantive. We'll see - I don't think he's going address the areas I'm interested in but will continue to watch.
Edit: Waterfalls? I'm going to say I'm so far unimpressed with his (lack) tangible solutions to challenges but he does have an imagination. One dimensional so far. So, I think this guy really does want a finite decentralized currency for many of the reasons that others want to have something with those properties. As pitched, it sounds great. But, he doesn't have the chops to outline why bitcoin or even crypto is that vessel or how to address the negatives and challenges. He's an investor so we got investor talk which is fine but it was pollyannic. The other video was more provocative as walked thru technology/limitations, power shifts, hacky stable coins and other bolt ons to make crypto semi functional, motivations, vulnerabilities, scale challenges, implementation variations, cultural aspects, dilution & NFT authority... there was a lot of ground in that 2.5 hours.Last edited by CarlMega; 01-30-2022 at 11:31 PM.
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01-30-2022, 11:00 PM #7054
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01-30-2022, 11:12 PM #7055
That’s just a straight up shitty thing to say. It’s not an argument or a defense or anything other than mean.
Sent from my iPhone using TGR ForumsHowever many are in a shit ton.
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01-31-2022, 01:05 AM #7056
Life is tough, math is irrefutable. Sorry. Yes, its mean, but, if you spend what are the most important years of your adult life for investing and saving (20s and 30s) dicking around with monopoly money, then, yeah, unless you have a real stroke of luck later in life, you're going to be poor when you get old, the no second chance zone, which is what I call it.
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01-31-2022, 03:50 AM #7057
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01-31-2022, 05:46 PM #7058
Where are you coming up with ‘most advisers’ say you should hold Bitcoin? Surveys of advisers I see come up with 10-20%, which is well below ‘most’. Example:
https://www.cnbc.com/2021/11/16/fina...rrencies-.html
Anyway, don’t really want to get into a back and forth on the merits of Bitcoin as I think the video I posted probably tells you where I fall.
I think Benny’s advice for retirement investing is pretty spot on. Bulk of your investments should be in low-fee index funds, and try to put things on autopilot as much as possible. (Check out what Vanguard invests in with their ‘target date’ funds and match that yourself would a good general strategy if your retirement plan isn’t with Vanguard.)
Regarding taking risk: advice I’ve seen that makes sense to me is that if you’re the type who needs/wants to chase gains beyond the market average that an index fund is going to deliver, don’t use more than 5% of your retirement money doing that, and make sure you’re comfortable with the idea that that 5% could be wiped out. (This is not specific to Bitcoin, just ‘higher risk’ investments in general, like picking individual stocks for example.) Limiting it to 5% means that if that portion of your retirement fund is wiped out you’re not going to be left in dire straits.
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01-31-2022, 06:23 PM #7059
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01-31-2022, 07:06 PM #7060
Diamonds are a girl’s best friend.
Sent from my iPhone using TGR Forums`•.¸¸.•´><((((º>`•.¸¸.•´¯`•.¸.? ??´¯`•...¸><((((º>
"Having been Baptized by uller his frosty air now burns my soul with confirmation. I am once again pure." - frozenwater
"once i let go of my material desires many opportunities for playing with the planet emerge. emerge - to come into being through evolution. ok back to work - i gotta pack." - Slaag Master
"As for Flock of Seagulls, everytime that song comes up on my ipod, I turn it up- way up." - goldenboy
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01-31-2022, 09:49 PM #7061
You mean like, Fidelity?
https://twitter.com/DigitalAssets/st...Y8jjIOW-A&s=19
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01-31-2022, 10:02 PM #7062
Correct.
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01-31-2022, 10:17 PM #7063
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01-31-2022, 10:18 PM #7064
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01-31-2022, 10:20 PM #7065
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02-01-2022, 01:12 AM #7066
Here is why I'm not relying on dca into an index fund:
https://www.unseenopp.com/the-chart-...-wants-to-see/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
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02-01-2022, 02:47 AM #7067
This idea is about so much more than making money. Fiat is crushing the world but no one wants to admit it. Bitcoin is an idea of better money in society. An idea that could bring more sovereignty to all individuals. I want to promote that idea more than make money. Bitcoin is about keeping wealth from constantly being stolen from you, not about getting rich in fiat terms.
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02-01-2022, 03:19 AM #7068Registered User
- Join Date
- May 2016
- Posts
- 3,610
I think it can better be described as an electronic Ponzi scheme which is somehow being allowed by authorities to operate in plain sight. It is an enormous drain on natural resources to create the energy to run the chips to create “coins” with no inherent value other than what the next sucker is willing to pay.
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02-01-2022, 04:37 AM #7069
Barking up the wrong tree.
Bitcoin uses less electricity than Christmas lights. Bitcoin uses less electricity than the ac in Arizona alone. Bitcoin uses less electricity than ANY other industry and has a higher proportion of renewables/carbon credits. The most electricity in one area is used by the refrigeration systems bringing and then storing your produce from around the world - exorbitant privilege.
https://bitcoinminingcouncil.com/
The puppeteers that are scavenging at least 7% of world gdp (financial services, aka mob-like strongarms) are on a mission to slow the inevitable. The anti bitcoin message has that purpose. But truly, bitcoin is inevitable.Last edited by shera; 02-01-2022 at 07:56 AM.
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
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02-01-2022, 05:51 AM #7070
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02-01-2022, 08:18 AM #7071www.apriliaforum.com
"If the road You followed brought you to this,of what use was the road"?
"I have no idea what I am talking about but would be happy to share my biased opinions as fact on the matter. "
Ottime
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02-01-2022, 08:28 AM #7072
Aaaand what is behind that slogan...and ensuing success??
A text book case of creating a market and shaping public opinion...not totally unlike cryptos..
https://www.theatlantic.com/internat...t-ring/385376/
The floggings will continue until morale improves.
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02-01-2022, 08:55 AM #7073I have been in this State for 30 years and I am willing to admit that I am part of the problem.
"Happiest years of my life were earning < $8.00 and hour, collecting unemployment every spring and fall, no car, no debt and no responsibilities. 1984-1990 Park City UT"
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02-01-2022, 09:42 AM #7074
That graphic is trash.
https://howmuch.net/articles/bitcoin...h-distribution
"There are a couple limitations in our data. Most importantly, each address can represent more than one individual person. An obvious example would be a bitcoin exchange or wallet, which hold the currency for a lot of different people."
"There’s only a very limited number of bitcoin wallet providers out there. It’s not like you can just go to your local bank and buy some bitcoin."
Remember our old friend NYDIG Ross from the Saylor video a few posts up? lol
https://www.cryptoglobe.com/latest/2...ading-in-2022/
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02-01-2022, 09:52 AM #7075
So here's my tinfoil hat thoughts on China and bitcoin:
China banned bitcoin mining which resulted in mass migration of a LOT of existing hardware and also enormous purchases of new s19s especially by US mining companies that went public and bought their entire operations with debt. The Chinese also set timelines for their people to get rid of all their bitcoins on exchanges which provided a lot of sell side pressure. I conjecture that pressure played some part in the bitcoin correction we are seeing.
But the plot thickens: rumors are now going around that China will enable bitcoin mining again. I would not be surprised if that comes just in time for the wet season and all the surplus hydro power. And get this, Bitmain has announced next gen hardware coming this summer that is significantly more efficient. Bitmain has a LONG history of mining with their new hardware before releasing it into the wild. Are they setting up for a summer of mad mining gainz?
Bottom line, China wins and the rest of the world gets the leftovers. Pure genius, really.
I've been running a new S19j Bitmain Antminer (leading edge efficiency) all winter and I can tell you personally that difficulty is high and returns are low. I'm only paying $.07/kWh (winter rates) and I would have to spend about half my monthly bill anyway to run my furnace, so it's ok for me economically speaking.
But what about riot and argo and hut8 and the others...how long can they last before selling coins and pushing down price further? Miner capitulation? Lower bitcoin prices creates a downward pressure on mining difficulty, because inefficient machines get turned off and then mining difficulty is reduced. Is it all plotted out by bitmain execs and the Chinese party rulers? I am so curious about the coming wet season in china and how this all plays out against the backdrop of price action,.
Sorry if that was too much to process, this is what jangles around in my head when I walk the dog, hahaha. Still best, always best, to just dca and hodl on.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
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