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Thread: Bitcoin....who's gotten into it?
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05-21-2022, 02:47 PM #9301
"I sort of boggle at the same culty reasoning recycled from gold people but with neck beards. Yes, some people have a disproportionate problem with central authorities. Trust issues. There are people who won't fly and must personally drive because they need that control. But virtually everyone is better having an apparatus that supports trained pilots, safety standards vs. one of these doofuses wanting to 'democratize it' so he can fly the plane. And even worse with crypto, you are at the whims of a stacked deck democracy where unaccountable whales already have built in majority stake that you can never override. That is, unless you don't adopt it. Then they lost their advantage which is the root of all the tacky scare tactics pressuring you to buy in. That is the power struggle driving the urgency.."
I had to read that a couple of times. I see your point. One thing to remember with bitcoin is that whether you (or a country) are in or out, the network will continue to function as designed. It is decentralized and can't be shut down. That brings about the game theory factors. Those that don't participate now may well regret it in the future.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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05-21-2022, 02:50 PM #9302
Fair. But the majority of proponents are making promises and projections that will not (cannot) be realized.
I think the white paper is clever. As in, hats off, chapeau. And a bunch of crypto academic currency nerds doing their one-ups-manship via old school email lists is a geek version of trading fours in a Jazz quartet. Like right on. But I personally believe that BTC gained notoriety not from being the best thing (the needed thing), but from being good enough at the right time. Timing matters when you need to get noticed for even a shot. Even better, it had utility for Silkroad shenanigans. The nerds liked it. The criminals liked it. The anarcho crowd will get behind anything that isn't the establishment. The right fucking name/branding. But.... if the ambitions laid out in the paper and what the pushers are saying it'd be... well, ultimately the real world doesn't give a shit about promises, it's about what you can demonstrate that you can do. Using the adage: we were the voting machine, but now we are a weighing machine. And that's where it the projections just stall. Maybe an alternative thing of some sort - additive but not a replacement for anything.
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05-21-2022, 02:56 PM #9303
Yeah, reasonable. Additive...
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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05-22-2022, 12:44 PM #9304
Bitcoin car had the fastest indy 500 qualifying speed since 1996. Goes for the pole today. In past years it would have already won pole.
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05-22-2022, 01:12 PM #9305
BTC FTW
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05-22-2022, 02:27 PM #9306
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05-22-2022, 03:22 PM #9307
I'm a little leary of an investment product being shilled by celebs on tv during major sporting events. If nothing else it means the time to get in has long since passed.
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05-22-2022, 04:58 PM #9308
Dixon and Palou didn't buy in.
www.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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05-22-2022, 04:59 PM #9309
Dixon. Respect
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05-22-2022, 05:46 PM #9310
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05-23-2022, 06:49 AM #9311I 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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05-23-2022, 08:48 AM #9312
Saw that ad in Time magazine. They are trying to lure the boomers in to the big pyramid.
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05-23-2022, 09:34 AM #9313
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05-23-2022, 10:24 AM #9314Rope->Dope
- Join Date
- Nov 2012
- Location
- I-70 West
- Posts
- 4,684
Unicoin is in development and has not yet been created or deployed...
...$220 Billion target valuation by 2026
Hysterical!
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05-23-2022, 10:54 AM #9315
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05-23-2022, 10:56 AM #9316
Bbbbutttt Wozniak!
Know of a pair of Fischer Ranger 107Ti 189s (new or used) for sale? PM me.
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05-23-2022, 10:57 AM #9317
Scott Melker just brought up an interesting point. Tether redeemed 7 billion dollars in 48 hours and still steady. Can banks do that?
Note that I'm not using tether...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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05-23-2022, 11:07 AM #9318
The appropriate comparison would be to money market funds, not banks, and the answer is yes.
As an example:
https://www.reuters.com/business/fin...er-2021-09-17/
Data from Lipper showed U.S. money market funds saw an outflow of $43.34 billion in the week to Wednesday
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05-23-2022, 11:13 AM #9319
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05-23-2022, 11:16 AM #9320
Thoughts on the upcoming eth 2.0 POS switch?
Seems like a pop in price is a given? Also like the entire space eth is currently cheap.
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05-23-2022, 11:22 AM #9321
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05-23-2022, 11:25 AM #9322
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05-23-2022, 11:42 AM #9323
Money markets are backed by short term treasury and have low yield accordingly. There is no magic formula for outsized gains. IF a tether fails if will be swift just like Luna with no maturity resolution. After the GFC the Sec changed the rules to regulate leveraged rates and holdings. If they regulated tether the yield would have to drop by law.
https://www.sec.gov/spotlight/money-market.shtml
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05-23-2022, 12:58 PM #9324
I guess that regulation is coming. Tether is still somewhat opaque but they have improved their reporting, and I think they are backed by corporate bonds - are those called junk bonds? The big question was about Chinese debt, like evergrande, iirc.
USDC (Circle) is backed more securely, I think. They have quarterly accounting and they use treasuries and cash.
I'm no expert on stables, but that's what I can recall. Sorry if I got any of that wrong. It doesn't matter much to me, because I tie up my extra cash on Coinbase pro as limit orders. So it's just plain fiat while it's sitting there and not earning me any money.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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05-23-2022, 01:01 PM #9325
I'm definitely watching. New news out with VB saying switch coming in August. Could def see a pump beforehand. Could be risky though if there is a delay near launch which would not be a huge surprise. If trading short-term I'd use relatively tight stop loss and keep moving it up.
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