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  1. #16126
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    Quote Originally Posted by MultiVerse View Post
    When the money supply increases nominal wages, nominal prices of goods & services, etc. also increase proportionately over the long run. So nominal prices change, but real prices stay the same. Real wages, real prices, real interest rates, and real asset prices are not affected in the long run by monetary policy. So whether or not a person has made money investing in bitcoin depends on when they bought it, when they timed their purchase, not because bitcoin is per se an inflation hedge. In real terms, for example, bitcoin today 4/20/2024 at $64K is worth less than it was in 2021 at $64K.
    Like I said, you try to sound smart by writing verbosely, but your messages are generally wrong as in your last post, and in this one where you typed way too much to tell us something that's common knowledge. Unfortunately, this persuades some people to believe you know what you're talking about.

  2. #16127
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    Quote Originally Posted by J. Barron DeJong View Post
    I apologize. Next time I’ll be sure to include all waves of Covid, the Russian war in Ukraine, and the Oct. 7 attacks in my predictions.

    Going forward, what global shocks should I be factoring for here?
    Why don't you just admit you were wrong instead of doubling and quadrupling down while coming up with excuses?

  3. #16128
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    Quote Originally Posted by stalefish3169 View Post
    Like I said, you try to sound smart by writing verbosely, but your messages are generally wrong as in your last post, and in this one where you typed way too much to tell us something that's common knowledge. Unfortunately, this persuades some people to believe you know what you're talking about.
    Previous post was accurate as was the one you quoted. In any case, you've posted dumb takes about inflation throughout this thread (like sippy cup look how much a candy bar cost in 1920 takes) so common knowledge isn't so common after all. Then again, lying is like 90% of what you do.

  4. #16129
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    Quote Originally Posted by MultiVerse View Post

    The dollar, for example, outperformed Bitcoin in real terms during the early 2020s inflation scare. It was only after inflation concerns started to subside that risk assets like Bitcoin began to once again experience tailwinds.
    This is the part I think you're wrong about. Bitcoin crushed the dollar in the early 2020s which was largely a result of its 4 year cycle, much less so due to inflation. Similarly, BTC rose again in early 2023 due to its cyclical nature and powerful network, not due to inflation concerns. Us BTCers know that inflation concerns are still very pervasive and the USA is in a dangerous debt spiral. You, Jong, and the Krugmeister can claim inflation is under control all you want, but if that was the case JPOW and the boys would be cutting rates this spring, instead they are bringing fat red SPX and NDQ candles.

    Also, just because you don't like that I'm right and BTC is thriving doesn't mean I'm lying. It means that you're salty.

  5. #16130
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    Quote Originally Posted by stalefish3169 View Post
    This is the part I think you're wrong about. Bitcoin crushed the dollar in the early 2020s which was largely a result of its 4 year cycle, much less so due to inflation. Similarly, BTC rose again in early 2023 due to its cyclical nature and powerful network, not due to inflation concerns. Us BTCers know that inflation concerns are still very pervasive and the USA is in a dangerous debt spiral. You, Jong, and the Krugmeister can claim inflation is under control all you want, but if that was the case JPOW and the boys would be cutting rates this spring, instead they are bringing fat red SPX and NDQ candles.

    Also, just because you don't like that I'm right and BTC is thriving doesn't mean I'm lying. It means that you're salty.
    For the record, it’s not just Krugman, or just progressive leaning economist claiming inflation was transitory. For example:

    https://kevinerdmann.substack.com/p/...another-review

    Which is not to say it’s settled - there are obviously economists arguing otherwise. But the view that inflation was transitory isn’t fringe from what I see.

    What does inflation need to be down to, and for how long, for it to be ‘under control’?

    Does the fact that the Fed isn’t further raising rates suggest inflation is ‘under control’?

  6. #16131
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    Quote Originally Posted by stalefish3169 View Post
    This is the part I think you're wrong about. Bitcoin crushed the dollar in the early 2020s which was largely a result of its 4 year cycle, much less so due to inflation. Similarly, BTC rose again in early 2023 due to its cyclical nature and powerful network, not due to inflation concerns. Us BTCers know that inflation concerns are still very pervasive and the USA is in a dangerous debt spiral. You, Jong, and the Krugmeister can claim inflation is under control all you want, but if that was the case JPOW and the boys would be cutting rates this spring, instead they are bringing fat red SPX and NDQ candles.

    Also, just because you don't like that I'm right and BTC is thriving doesn't mean I'm lying. It means that you're salty.
    A post full of lies. I never claimed inflation is under control. I never said inflation was transitory. I predicted the opposite would happen. In fact, I accurately predicted what would happen with inflation years ahead of it happening. I've also expressed concern about the debt.

    The point Stalefish tried to handwaive away is the fact bitcoin performed worse when the rate of inflation was higher and better as the rate of inflation came down, which is something that I also predicted. Also, bitcoin was left on the side of the road for dead until Wall Street bailed it out with ETFs. He should thank his boogeyman not the cycle for recent returns.

    Since Stalefish can never comprehend or contend with actual arguments, he always resorts instead to ad hominems. That and his bad culture war takes is why Stalefish deserves nothing but contempt.

  7. #16132
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    Quote Originally Posted by MultiVerse View Post
    A post full of lies. I never claimed inflation is under control. I never said inflation was transitory. I predicted the opposite would happen. In fact, I accurately predicted what would happen with inflation years ahead of it happening. I've also expressed concern about the debt.

    The point Stalefish tried to handwaive away is the fact bitcoin performed worse when the rate of inflation was higher and better as the rate of inflation came down, which is something that I also predicted. Also, bitcoin was left on the side of the road for dead until Wall Street bailed it out with ETFs. He should thank his boogeyman not the cycle for recent returns.

    Since Stalefish can never comprehend or contend with actual arguments, he always resorts instead to ad hominems. That and his bad culture war takes is why Stalefish deserves nothing but contempt.
    Why don't you stop whining about me making insults while you're calling me a liar?

    You're against my culture war? So does that mean you're in favor of corruption, gross inequality, and giving away many billions of dollars to a well-to-do country which is actively commiting genocide? Curious.

  8. #16133
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    I accurately called you a liar, which you are. And bitcoin is no solution for any of the things you attach it to. In that sense, it's just your smarmy salesmanship all the way down. It's gross.

  9. #16134
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    I think we're beyond beating the horse. Time will tell us all how BTC ends up.

  10. #16135
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    So the African family will have to pay 40% of their yearly income to transfer funds to buy a $4 bag of flour?

    https://news.bitcoin.com/after-halvi...r-to-over-240/

  11. #16136
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    This^^^is where Sheras "extra" money comes from

  12. #16137
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    I guess lightning wallets are still the best way to do small transfers, not sure though.

    I'm making money from some wild speculative activity - they are bringing NFTs to bitcoin. Full degens. Not sure how it will all fall out in the end, it's new tech and there's still exploration on how to use it. I realized a long time ago that features from any open source project could/would be absorbed by more legacy networks if it made sense. I thought it would be ethereum gaining, but here it is happening with bitcoin. Haters gonna hate no matter what, I'm neutral. But there will be debate like the block wars - I made money on that one too.
    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

  13. #16138
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    Quote Originally Posted by byates1 View Post
    I think we're beyond beating the horse. Time will tell us all how BTC ends up.
    Finally, a voice of reason in the middle of a wilderness of opinion.
    I 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"

  14. #16139
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    The oracle came to me and posted through me.

  15. #16140
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    Quote Originally Posted by byates1 View Post
    No. That's your take. We think it's not correct.

    What you say is fine for you. Don't expect others to agree

    Inverse jong ftw
    Quote Originally Posted by J. Barron DeJong View Post
    So where are your gains coming from?

    It’s not that fucking complicated.
    Quote Originally Posted by byates1 View Post
    I think we're beyond beating the horse. Time will tell us all how BTC ends up.
    I wouldn’t suggest that the horse is not thoroughly beaten.

    But suggesting that time will yield some truth reveals either misunderstanding or disingenuity. In time, something may be added to the BTC landscape that makes it a net contributor to the world’s economy and standard of living. More likely it’s some other form of blockchain tech.

    The current equation is not actually unknowable or even particularly mysterious. It’s a house of cards propped up by pitchmen and pumpers. You and any hundreds of thousands of others getting rich doesn’t make it any less so, it just means other people got poor. It’s a casino, but without a bar and live shows.

    It’s not complicated.
    focus.

  16. #16141
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    Hey everyone mustonen is back

  17. #16142
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    Quote Originally Posted by Vt-Freeheel View Post
    So the African family will have to pay 40% of their yearly income to transfer funds to buy a $4 bag of flour?

    https://news.bitcoin.com/after-halvi...r-to-over-240/
    We've known for a long time that the fees on the base layer were going to climb and that second layer solutions and beyond will be required for scaling. Lots of this second layer tech is already functional and improving rapidly. The bulk current fee spike is likely to reduce by quite a bit as time goes on. It's also a result of figuring out how to bring tech to BTC that mostly existed only on other chains. As time goes on, this is only making BTC more anti-fragile and locking up more value on chain.

  18. #16143
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    Quote Originally Posted by Mustonen View Post
    I wouldn’t suggest that the horse is not thoroughly beaten.

    But suggesting that time will yield some truth reveals either misunderstanding or disingenuity. In time, something may be added to the BTC landscape that makes it a net contributor to the world’s economy and standard of living. More likely it’s some other form of blockchain tech.

    The current equation is not actually unknowable or even particularly mysterious. It’s a house of cards propped up by pitchmen and pumpers. You and any hundreds of thousands of others getting rich doesn’t make it any less so, it just means other people got poor. It’s a casino, but without a bar and live shows.

    It’s not complicated.
    Quote Originally Posted by byates1 View Post
    Hey everyone mustonen is back
    Oh yeah, the whole "blockchain not Bitcoin" argument was worth the wait. Is it 2017 again? Yawn.

  19. #16144
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    Quote Originally Posted by stalefish3169 View Post
    Oh yeah, the whole "blockchain not Bitcoin" argument was worth the wait. Is it 2017 again? Yawn.
    That’s not the argument. The argument is that it’s a Ponzi scheme. We don’t need time to tell that.
    focus.

  20. #16145
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    Quote Originally Posted by Mustonen View Post
    That’s not the argument. The argument is that it’s a Ponzi scheme. We don’t need time to tell that.
    But if a Ponzi hasn’t collapsed yet, is it really a Ponzi?





    Yes.

  21. #16146
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    Bitcoin....who's gotten into it?

    “Only time could possibly tell. Buy now while there’s still time!”
    Last edited by Mustonen; 04-22-2024 at 05:27 AM.
    focus.

  22. #16147
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    Hey everyone jong is back

  23. #16148
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    Quote Originally Posted by byates1 View Post
    Hey everyone jong is back
    I never left.

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    more soothing for you jong

  25. #16150
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    hey everyone jong never left

    he's back though

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