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  1. #13201
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    Bitcoin....who's gotten into it?

    I bet you wish you understood what you just posted, amirite?? Because itís exhibit a for why unregulated decentralized currency is a shit idea we moved on from a long long time ago.
    focus.

  2. #13202
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    Quote Originally Posted by stalefish3169 View Post
    From the link I posted, "... we must seek greater clarity on how the adoption of Bitcoin as legal tender may impact El Salvadorís financial and economic stability, as well as El Salvadorís capacity to effectively combat money laundering and illicit finances."

    Bob sponsored legislation trying to say that BTC was going to facilitate money laundering in El Salvador. Bob got busted for fraud. I think that's entertaining. Do you understand yet?

    Sent from my Pixel 7 Pro using Tapatalk
    No. Because those things donít actually link together in a meaningful or logical way. If bob got busted for laundering money with bitcoin, sure. But it was fucking gold bars you dipshit.
    focus.

  3. #13203
    Join Date
    Dec 2005
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    10,492
    Bobís corruption somehow legitimizes El Salvador spending a couple billion on a failed experiment with BTCÖ

  4. #13204
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    Sep 2004
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    Quote Originally Posted by stalefish3169 View Post
    Winter is coming. Is it getting cold in here? Are you all ready for some BRRRRRR?
    Not me, I got my mining rigs to keep me warm, yay! Bitcoin energy conservation FTW!!!1!!1!

  5. #13205
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    Oct 2009
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    closing the loop!!

  6. #13206
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    Jun 2020
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    This is good for Bitcoin though, because itís corrupt TradFi, or something?

    Click image for larger version. 

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    https://x.com/followtheh/status/1706...sR_NcRK2VkCfkg

  7. #13207
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    Dec 2008
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    Quote Originally Posted by J. Barron DeJong View Post
    This is good for Bitcoin though, because it’s corrupt TradFi, or something?

    Click image for larger version. 

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    https://x.com/followtheh/status/1706...sR_NcRK2VkCfkg
    Nothing to see here. Chase definitely hasn't done anything to facilitate [checks notes]... the literal raping of children.

    https://www.cnbc.com/2023/09/26/jpmo...n-islands.html

  8. #13208
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  9. #13209
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    Dec 2003
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    Ah yes, crypto, so trusted and usable.
    https://techcrunch.com/2023/09/25/ha...company-mixin/

    Whoopsy, all gone.

    Also given that most crypto has zero know your customer law interactions (or are actively hostile to it), it's heavily used by lots of sanctioned folks and the people even tradfi consider too deplorable to do business with (which is a pretty low bar).

  10. #13210
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    Jun 2020
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    Quote Originally Posted by stalefish3169 View Post
    Ah, diversions. So itís not good for Bitcoin then.

  11. #13211
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    Unfortunately for digital currencies, there's also this that just rolled out from the fed - https://www.frbservices.org/financia...now/about.html
    Instant payments and options for digital wallet providers being agents of people, obviating the need for an intermediate currency. Some detail on the startup implication side here: https://techcrunch.com/2023/09/26/fe...-payment-apps/

  12. #13212
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    Quote Originally Posted by schuss View Post
    Ah yes, crypto, so trusted and usable.
    https://techcrunch.com/2023/09/25/ha...company-mixin/

    Whoopsy, all gone.

    Also given that most crypto has zero know your customer law interactions (or are actively hostile to it), it's heavily used by lots of sanctioned folks and the people even tradfi consider too deplorable to do business with (which is a pretty low bar).
    That's an expensive way for people to learn the importance of self-custody and to not keep their money on a centralized cloud-based service. Secondly, you're KYC viewpoint is laughably out of date. KYC is required on almost all on/off ramps now. Lastly, the extreme majority of crypto transactions are not illicit. https://www.cato.org/blog/overstatin...nt%20in%202022.


    Quote Originally Posted by schuss View Post
    Unfortunately for digital currencies, there's also this that just rolled out from the fed - https://www.frbservices.org/financia...now/about.html
    Instant payments and options for digital wallet providers being agents of people, obviating the need for an intermediate currency. Some detail on the startup implication side here: https://techcrunch.com/2023/09/26/fe...-payment-apps/
    Also, just LOL. FedNow is not any sort of real competitor with BTC. This is the Fed's legacy. https://twitter.com/KobeissiLetter/s...04573113368658

  13. #13213
    Join Date
    Jan 2010
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    Oh cool so I just have to keep $200M on a bunch of physical wallets and hope I never get them stolen, destroyed or forget the keyÖ


    Sent from my iPhone using TGR Forums

  14. #13214
    Join Date
    May 2006
    Location
    Colorado
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    1,962
    Quote Originally Posted by neufox47 View Post
    Oh cool so I just have to keep $200M on a bunch of physical wallets and hope I never get them stolen, destroyed or forget the key…
    In a FIAT world, Bitcoin fanatics be like: "not (under) your mattress, it's not your money"

    Which is why when I purchase stock in a company, I just physically take property as collateral.. Office furniture, emails and/or IP documents and maybe a bit of earth from under their head quarters. This is the only practical way.

  15. #13215
    Join Date
    Nov 2008
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    Greater Drictor Wydaho
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    Trading volume in Bitcoin now down 85% from peak.

    Google search activity related to cryptos now down 95% from peak.

    The new reality of crypto: boring, burned out and bankrupt.

    From hot shit to cold turd in record time. What a difference two years makes. It's down to the long unwind as the whales try to manipulate the narrative and lure the sunk cost bag holders into doubling down on a broken dream. Every spike met with an immediate sell down.

    Death spiral inevitable.

  16. #13216
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    Quote Originally Posted by stalefish3169 View Post
    That's an expensive way for people to learn the importance of self-custody and to not keep their money on a centralized cloud-based service. Secondly, you're KYC viewpoint is laughably out of date. KYC is required on almost all on/off ramps now. Lastly, the extreme majority of crypto transactions are not illicit. https://www.cato.org/blog/overstatin...nt%20in%202022.




    Also, just LOL. FedNow is not any sort of real competitor with BTC. This is the Fed's legacy. https://twitter.com/KobeissiLetter/s...04573113368658

    You used one anecdote to say tradfi is into rape enablement, knife cuts both ways boss.

    Paid in seconds is still faster than real BTC processing, which maxes out at 7 transactions per second last time I looked (as to your point, we're not using intermediaries).

  17. #13217
    Join Date
    Apr 2006
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    6,345
    Quote Originally Posted by neckdeep View Post
    Trading volume in Bitcoin now down 85% from peak.

    Google search activity related to cryptos now down 95% from peak.

    The new reality of crypto: boring, burned out and bankrupt.

    From hot shit to cold turd in record time. What a difference two years makes. It's down to the long unwind as the whales try to manipulate the narrative and lure the sunk cost bag holders into doubling down on a broken dream. Every spike met with an immediate sell down.

    Death spiral inevitable.
    That's like your opinion man.

    We could certainly see a mass unravelling of the system. The traditional system. Which would def wreck BTC . Or not.

    Time will tell. To say BTC is done is very myopic. I hope the mass crypto/nft/hype train is done. Was fun for a short bit.

    I hope you are here 10 years from now. You may have to amend your post.

  18. #13218
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    Nov 2008
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    Quote Originally Posted by byates1 View Post
    That's like your opinion man.

    We could certainly see a mass unravelling of the system. The traditional system. Which would def wreck BTC . Or not.

    Time will tell. To say BTC is done is very myopic. I hope the mass crypto/nft/hype train is done. Was fun for a short bit.

    I hope you are here 10 years from now. You may have to amend your post.
    You've spent so long staring into that crystal ball that you're forgetting to just look out the window.

  19. #13219
    Join Date
    Apr 2006
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    6,345
    The window I look out of has no mortgage on it. The BTC I own was paid for by the gains in BTC I made.

    What window are you looking out of?

  20. #13220
    Join Date
    Dec 2016
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    Quote Originally Posted by byates1 View Post
    The window I look out of has no mortgage on it.
    Hey! The window I'm looking out is also mortgage-free.

  21. #13221
    Join Date
    Jun 2020
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    4,885
    Quote Originally Posted by byates1 View Post
    That's like your opinion man.

    We could certainly see a mass unravelling of the system. The traditional system. Which would def wreck BTC . Or not.

    Time will tell. To say BTC is done is very myopic. I hope the mass crypto/nft/hype train is done. Was fun for a short bit.

    I hope you are here 10 years from now. You may have to amend your post.
    Your Bitcoin gains are only on paper until you cash out, at which point youíve locked in other Bitcoin holders losses.

    Surely you can see how that isnít a viable method for all Bitcoin buyers to get rich.

  22. #13222
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    Quote Originally Posted by J. Barron DeJong View Post
    Your Bitcoin gains are only on paper until you cash out, at which point youíve locked in other Bitcoin holders losses.

    Surely you can see how that isnít a viable method for all Bitcoin buyers to get rich.
    Unless BTC is your unit of account. I have part of my BTC stash that I'm literally planning on never selling. And there are plenty of psychos like me doing the same thing for an asset with finite supply.

    Sent from my Pixel 7 Pro using Tapatalk

  23. #13223
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    Dec 2008
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    Quote Originally Posted by CarlMega View Post
    In a FIAT world, Bitcoin fanatics be like: "not (under) your mattress, it's not your money"

    Which is why when I purchase stock in a company, I just physically take property as collateral.. Office furniture, emails and/or IP documents and maybe a bit of earth from under their head quarters. This is the only practical way.
    Gold too.

    https://www-cnbc-com.cdn.ampproject....few-hours.html

    Sent from my Pixel 7 Pro using Tapatalk

  24. #13224
    Join Date
    Jun 2020
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    4,885
    Quote Originally Posted by stalefish3169 View Post
    Unless BTC is your unit of account. I have part of my BTC stash that I'm literally planning on never selling. And there are plenty of psychos like me doing the same thing for an asset with finite supply.

    Sent from my Pixel 7 Pro using Tapatalk
    Byates isnít using Bitcoin as his unit of account though, is he?

  25. #13225
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    Dec 2016
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    Quote Originally Posted by J. Barron DeJong View Post
    Byates isnít using Bitcoin as his unit of account though, is he?
    Do people who have Bitcoin *actually* use it as a unit of account? I'm skeptical at this point...

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