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Thread: Bitcoin....who's gotten into it?
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11-14-2022, 06:46 PM #11201
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11-14-2022, 06:55 PM #11202
Right. And from a societal standpoint, what would happen to the banking system if bitcoin, ETH, and every other crypto token went to zero overnight? From what we've seen so far pretty much close to nothing. If so, then that would also tell us crypto markets are not systemically important.
I mentioned earlier in this thread crypto mostly responds to excess liquidity in the system. To the extent it's not systemically important that's not necessarily a bad thing.
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11-14-2022, 07:56 PM #11203
Well, one reason is societally it’s unhealthy to have people who say “people ask me a lot what I think of crypto. I didn’t get into this as a crypto true believer, and yeah it’s mostly scams and memes when you get down to it” running funds taking in billions of capital, that they manage with the care of a criminal, even if the risk is narrowly contained this time.
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11-14-2022, 08:10 PM #11204
Yeah, I'm not excusing any of it. Transparency is underrated. Financial statements should never surprise and fraudulent statements should never escape the gaze of the market. Fraud should be prosecuted.
So the question that needs answering with banking type regulation for crypto is whether doing so means either quasi de facto government stamp of approval or regulating it out of existence. Because given how risky it is, regulation could be worse than no regulation at all if it creates a sheen of legitimacy. And I don't think we want regulators picking winners and losers in the space either.
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11-14-2022, 08:16 PM #11205
I think sfb will be criminally prosecuted and should be. What say you's?
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11-14-2022, 08:17 PM #11206
Sbf*
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11-14-2022, 08:24 PM #11207
I think skifishbum should be prosecuted for being criminally dank.
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11-14-2022, 11:03 PM #11208
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11-15-2022, 01:56 AM #11209features a sintered base
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There must be some level on which even you could understand how breathtakingly stupid the above is. Right? Think about the topic, what was posted (that you responded to), and how such things should be addressed.
I remember when I put all that money into Pets.com and showed doubters that I wasn't a pussy and wouldn't fold. That's called smart investing!
Get it? Jfc.[quote][//quote]
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11-15-2022, 08:16 AM #11210
Those of us that are excited about crypto/blockchain tech have taken a beatdown, that's for sure. And we have a lot to think about, what's legit and what's a scam? What can survive? After a lot of introspection, I haven't lost confidence in the bitcoin network. I still find it unassailable.
I'm content to mine this winter and enjoy the heat. I'm easily breaking even if you consider the cost to run a furnace. One leg up and I'm in very good profit.
But I'm also thinking about buying soonish, no crystal ball, but I'm considering it. Blood in the streets.
Are you smarties thinking about buying assets (real estate, equities, whatev) for the long term? What? I'd like to compare notes, what can can beat bitcoin?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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11-15-2022, 08:32 AM #11211
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11-15-2022, 08:33 AM #11212
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11-15-2022, 08:35 AM #11213
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11-15-2022, 08:42 AM #11214
hyperbole much?
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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11-15-2022, 08:45 AM #11215
Noted. I guess surfing TGR all day really is a good way to cut my winter heat bill. In summer, I may cut down on my TGR time.
Yeah, that got expensive. I switched all my fireplaces to those NG log sets this year. I can dial in the flame and heat level with a remote."timberridge is terminally vapid" -- a fortune cookie in Yueyang
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11-15-2022, 08:57 AM #11216
Bitcoin....who's gotten into it?
“Create instead of living off the buying and selling of others”
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11-15-2022, 09:03 AM #11217
Bitcoin....who's gotten into it?
“Like an old man chasing a chorus girl” munger
My dad, an old man, married a chorus girl, my mom, fwiw.
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11-15-2022, 09:20 AM #11218
Personally I continue to buy the S&P, have money in the government savings bonds for all my family members, and am looking to buy real estate soonish. No crypto.
I think Web 3.0 may succeed in the end but not until the bullshit and fraud goes to 0. In that regard it seems Ethereum is most useful and does something other than “store value”.
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11-15-2022, 09:47 AM #11219
If ethereum was really useful, then they wouldn't have had to invent NFTs.
Ultimately, NFTs are a marketing device for ethereum. It's the illusion that nebulous tokens can be turned into something real, something that people can actually become attached to psychologically. Now you can visualize your wealth, albeit as a woefully lame jpeg. It projects a permanence where there is none.
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11-15-2022, 10:05 AM #11220
Bitcoin....who's gotten into it?
a private island.
Sent from my iPhone using TGR Forums"Zee damn fat skis are ruining zee piste !" -Oscar Schevlin
"Hike up your skirt and grow a dick you fucking crybaby" -what Bunion said to Harry at the top of The Headwaters
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11-15-2022, 10:16 AM #11221features a sintered base
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I'm long STH binders. Sure, the 90's vintage seem to be depreciating right now, but unlike you fucking pussies who lack conviction I'm confident in the fundamentals. Anyone who doesn't have at least 10% of their portfolio in STH bindings is missing out. Next step: profit.
[quote][//quote]
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11-15-2022, 10:30 AM #11222
I'm investing in Beanie Babies.
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11-15-2022, 10:30 AM #11223
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11-15-2022, 10:37 AM #11224Rope->Dope
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11-15-2022, 10:46 AM #11225
Ellison is the gift that keeps on giving. Her social media footprint is like a deliberate effort to refute any possible future accusations of criminal intent. A trail of bread crumbs leading inexorably to a conclusion of total incompetence and indifference to risk. My favorite part is where she says becoming CEO of Alemeda meant accepting that they'll be chasing after the craziest and dumbest sounding ideas.
How is it possible that Lords of Capital like BlackRock couldn't find this during their due diligence? This "firm" essentially had no organizational structure and a small fraction of the staff required to meet their mission goals. Turns out all of the principal officers had screaming red flags out there for all to see with minimal due diligence.
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