Bitcoin....who's gotten into it?

[byates1]

^ you think this pull back to 10/15 k this fall is possible?

[dunfree]

Morons regrouped with new talking points

[stalefish3169]

^ you think this pull back to 10/15 k this fall is possible?

Sure, anything is possible. But unless we get some sort of crazy series of events (inflation getting much worse, SPX/NDQ putting in new lows, civil war), I don't see us going that low.

https://twitter.com/WClementeIII/sta...23939366895617

[summit]

What if the new cash infusion doesn't happen or doesn't sustain?

[schuss]

Sure, anything is possible. But unless we get some sort of crazy series of events (inflation getting much worse, SPX/NDQ putting in new lows, civil war), I don't see us going that low.

https://twitter.com/WClementeIII/sta...23939366895617

I love the 180s
"Tradfi is terrible, we are the bright new idealistic future! We don't need or want them"
Straight into
*Tradfi private equity comes close*
"Oh wow, tradfi firms are amazing"

Just admit you just want your lottery ticket to make you rich.

[byates1]

^sort of implied w any investing discussion.

What do you want? To be poor, a crybaby, and a douche on the internet? I believe dunfree has a masterclass available.

[J. Barron DeJong]

^sort of implied w any investing discussion.

What do you want? To be poor, a crybaby, and a douche on the internet? I believe dunfree has a masterclass available.

No. You guys aren’t talking about ‘investing’, you’re talking about trading, at best, but actually just gambling.

Warren Buffet is an investor. What’s his timeframe to hold an investment? Forever.

You guys are trying to time the market by the day/week/month. That may be a fun game to play, and you may be able to ‘beat’ the market sometimes. But for everyone who beats the market someone else must have underperformed the market.

Don’t ‘trade’ with money you need, like your retirement savings; invest that. If you have some fun money to trade/gamble then go ahead and have fun.

[J. Barron DeJong]

Pretty solid thread. I feel like I did pretty well since the beginning of the year considering the blood. I'm now more diversified in stonks and down in BTC which could be bad long-term. But we'll see. Working on DCAing into BTC and ETH now.



https://twitter.com/Nakamotolisk/sta...8jiBoNuAQ&s=19

What a bunch of BS gibberish.



Again, this is discussing trading, not investing, don’t confuse yourself.



The consensus forecast was for the Fed to raise the rate by 0.75 percent, which is what they did. If you were listening to some group that had a different ‘consensus’ forecast, consider changing you sources.

[stalefish3169]

I love the 180s
"Tradfi is terrible, we are the bright new idealistic future! We don't need or want them"
Straight into
*Tradfi private equity comes close*
"Oh wow, tradfi firms are amazing"

Just admit you just want your lottery ticket to make you rich.

I've said it before and I'll say it again. Tradfi isn't embracing BTC because they want to. They're doing it because they realize how unstoppable it is. Look up JP Morgan Coin and how they abandoned it when they realized BTC is better.

If we move all the legacy institutions to BTC, an open and decentralized system, that's a win in my book. Why shouldn't I try to increase my net worth along the way?

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[stalefish3169]

No. You guys aren’t talking about ‘investing’, you’re talking about trading, at best, but actually just gambling.

Warren Buffet is an investor. What’s his timeframe to hold an investment? Forever.

You guys are trying to time the market by the day/week/month. That may be a fun game to play, and you may be able to ‘beat’ the market sometimes. But for everyone who beats the market someone else must have underperformed the market.

Don’t ‘trade’ with money you need, like your retirement savings; invest that. If you have some fun money to trade/gamble then go ahead and have fun.

My strategy is to accumulate as much BTC and secondarily ETH over time. Sometimes there are obvious ways to do that. I will try to capitalize on them when they're available to the best of my ability. Other times, things are harder to predict and forces beyond our control take over.

I make good money spending a lot of time thinking about crypto. What do you get, besides dunked on?

Sent from my Pixel 6 Pro using Tapatalk

[schuss]

No. You guys aren’t talking about ‘investing’, you’re talking about trading, at best, but actually just gambling.

Warren Buffet is an investor. What’s his timeframe to hold an investment? Forever.

You guys are trying to time the market by the day/week/month. That may be a fun game to play, and you may be able to ‘beat’ the market sometimes. But for everyone who beats the market someone else must have underperformed the market.

Don’t ‘trade’ with money you need, like your retirement savings; invest that. If you have some fun money to trade/gamble then go ahead and have fun.

This.
Of course they're opening crypto funds. Most make their cash in management fees. You choosing crypto to lose your money doesn't bother them a bit.

[CarlMega]

They're doing it because they realize how unstoppable it is.

Unstoppable as what? I'm still waiting for that disrupter use-case, killer app n all that.

I dunno, my read isn't that they think Crypto is going to be an unavoidable force that everyone must reconcile with... rather, there's money to be made off unsophisticated traders.

Time will tell tho.

[J. Barron DeJong]

Stalefish believing he’s dunking on me:

[Mustonen]

They're doing it because they realize how unstoppable it is.

I don’t have lunch with Jamie Dimon or anything, but the arguments I’ve heard range from (1) a lesser of two evils, we should make sure we can at least do what we can to minimize risk for our clients otherwise they’ll go somewhere that doesn’t have their best interests in mind, to (2) at least this way we make money on the transaction if they convert their assets to crypto with us rather than just performing a withdrawal.

Of course, in any crypto conversation there are a smattering of people like stale at the table that everybody has to placate. In more polite company (I.e. not TGR) you let them go on and validate them but try to avoid letting them steer the conversation too deep into crazy land. Usually they’re token mid-management types or represent a fintech.

[summit]

If we move all the legacy institutions to BTC, an open and decentralized system, that's a win in my book.

Why in the world would tradfi do that? It is these sort of statements that pervade pro crypto "ultimately only can go up" reasoning. It is no different from "if everyone puts 1% into BTC, then too the moon it goes!" Except that is not how anything works.

[stalefish3169]

Unstoppable as what? I'm still waiting for that disrupter use-case, killer app n all that.

I dunno, my read isn't that they think Crypto is going to be an unavoidable force that everyone must reconcile with... rather, there's money to be made off unsophisticated traders.

Time will tell tho.

It's already here: Uncensorable transactions

Anyone can send money to anyone else anywhere in the world and nobody can stop it.

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[jono]

It's already here: Uncensorable transactions

Anyone can send money to anyone else anywhere in the world and nobody can stop it.

Didn't the FBI clawing back ransom payments qualify as "stopping?"

[hatchgreenchile]

Mixers are already getting blacklisted. Fair or not, the feds have no incentive to allow "untraceable", "uncensorable", "anonymous" transactions on their watch.

[stalefish3169]

Didn't the FBI clawing back ransom payments qualify as "stopping?"

The FBI gaining access to private keys stored on a server doesn't disprove that BTC is unstoppable. It means you don't know what you're talking about.

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[stalefish3169]

Mixers are already getting blacklisted. Fair or not, the feds have no incentive to allow "untraceable", "uncensorable", anonymous transactions on their watch.

Mixers are mixers. You don't need to use a mixer to send BTC. Sure governments will try to strangle on and off ramps, and continue to use KYC/AML as a tool of oppression, but pure BTC transactions are currently uncensorable.

Why do you hate freedom? Does your mom pick out your clothes for you in the morning?

Fact: Authoritarian rulers are getting stronger all over the world. Just because your preferred party is in the Whitehouse now doesn't mean it will be forever. How excitiled will you all be when President Desantis starts freezing everyone's money whose ever even thought of having an abortion? You think the SCOTUS is going to stop him? Good luck with that!

Anyone arguing for governments to have more control over OUR money is a fucking idiot.

https://freedomhouse.org/report/free...oritarian-rule

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[hatchgreenchile]

I like the doom and gloom future outlooks. Dystopia on deck! Start loading up on gold, silver, guns, MREs and crypto, eh?
Accountability of fiduciaries matter. Customer protections matter. Sanctions matter. Taxation matters (that's not fun, but it does!)
While crypto may work in the libertarian utopia of the mind, in the real world, there are interests that elected officials are incentivized to protect. I'd argue many are valid. YMMV

[CarlMega]

It's already here: Uncensorable transactions

Anyone can send money to anyone else anywhere in the world and nobody can stop it.

Maybe. I think there are a few flaws in this thinking like how you could be denied access to the technology to perform said transactions or more likely denied access to whatever goods n services you were hoping to exchange.

But probably more importantly, in 50 years I've never had a transaction 'censored'. I feel I'm fairly representative of most ppl. So who is supremely motivated by 'uncensored transactions'?

[J. Barron DeJong]

So who is supremely motivated by 'uncensored transactions'?

Paranoid libertarians, from what I can gather…

[schuss]

Why in the world would tradfi do that? It is these sort of statements that pervade pro crypto "ultimately only can go up" reasoning. It is no different from "if everyone puts 1% into BTC, then too the moon it goes!" Except that is not how anything works.

Well, I mean the whole economy of everywhere would grind to a stop as it can only do what, 7 transactions a second?

[JimmyCarter]

Mixers are mixers. You don't need to use a mixer to send BTC. Sure governments will try to strangle on and off ramps, and continue to use KYC/AML as a tool of oppression, but pure BTC transactions are currently uncensorable.

Why do you hate freedom? Does your mom pick out your clothes for you in the morning?

Fact: Authoritarian rulers are getting stronger all over the world. Just because your preferred party is in the Whitehouse now doesn't mean it will be forever. How excitiled will you all be when President Desantis starts freezing everyone's money whose ever even thought of having an abortion? You think the SCOTUS is going to stop him? Good luck with that!

Anyone arguing for governments to have more control over OUR money is a fucking idiot.

https://freedomhouse.org/report/free...oritarian-rule

Sent from my Pixel 6 Pro using Tapatalk

Remind me again how effective BTC is without the internet?