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

[stalefish3169]

Does it rhyme with RAI and DAI?

I don't think ETH is nearly as decentralized as BTC. Also, last time I checked, ETH still uses POW, which you seem to have a special hatred for.

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[MultiVerse]

A minority of miners, whales, and exchanges have enormous influence over bitcoin. It's not nearly as decentralized, or as private for that matter, as people think.

If you want to go over it once more I can easily copy-and-paste the old posts, just like I've been doing with all your other talking points.

[stalefish3169]

A minority of miners, whales, and exchanges have enormous influence over bitcoin. It's not nearly as decentralized as people think.

If you want to go over it once more I can easily copy-and-paste the old posts, just like I've been doing with all your other stale (heh) talking points.

Clearly, you've got this all figured out and ETH is running flawlessly.

https://cryptobriefing.com/consensus...m-chain-split/

https://twitter.com/bantg/status/1431263170878967811

[MultiVerse]

Phew, good thing the NFT-pills you've been hocking use bitcoin instead... right?

[stalefish3169]

Phew, good thing the NFT-pills you've been hocking use bitcoin instead... right?

The Blankos NFTs run on a private EOSIO blockchain for now. I don't mess with ETH NFTs and think the UX is atrocious. With that being said, I do own ETH for number go up and it's been very good to me.

Censorship resistant transactions and collectibles are apples and oranges IMO. But keep doing whatever mental gymnastics you need to so that you can feel smart.

[Skidog]

The Blankos NFTs run on a private EOSIO blockchain for now. I don't mess with ETH NFTs and think the UX is atrocious. With that being said, I do own ETH for number go up and it's been very good to me.

Censorship resistant transactions and collectibles are apples and oranges IMO. But keep doing whatever mental gymnastics you need to so that you can feel smart.

What I don't get is why not just concede and admit that it's really shit and you're in it for the $$$. I'd have more respect. Instead it's just articles from others in the Bitcoin community espousing it's awesomeness. You think Bill Gates talks crap about Microsoft and tells people to switch to Linux? Nope. Why would a Bitcoin proponent talk shit about it?

That shit is far from going to change how the world thinks of $$ and banks in our lifetimes.

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[stalefish3169]

What I don't get is why not just concede and admit that it's really shit and you're in it for the $$$. I'd have more respect. Instead it's just articles from others in the Bitcoin community espousing it's awesomeness. You think Bill Gates talks crap about Microsoft and tells people to switch to Linux? Nope. Why would a Bitcoin proponent talk shit about it?

That shit is far from going to change how the world thinks of $$ and banks in our lifetimes.

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Why can't I be in it for the money AND think it's an improvement over the current financial system?

You're wrong in that crypto already has changed things greatly in an astoundingly short period of time. You think JPOW and Yellen want to be talking about crypto? The do it because they have no choice. That's what disruptive technology does man. It disrupts.

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[Dexter Rutecki]

BTC is the thing dude. There have literally been thousands of competitors trying to eat its lunch and it's still #1. Will that be the case forever, I can't say. But right now there is no real competitor for store of value. You want to put your money in shiny rocks?

Attachment 383730

Or maybe you want some of those sweet yielding 10 year T-bonds.

Attachment 383732

Um, no, there are far, far better stores of value, and that's simply an objective fact. And you're not getting this--I'm not interested in gold/t-bills, nor advocating for either of those, which is markedly different than you and BTC (I think gold is only somewhat less stupid than BTC because of its history, association with currency, and accordant lower chance of crashing to zero/near zero). So no real idea why you brought those things up--you can say whatever you like about those asset classes but nothing about BTC's flaws are changed by comparison.

pets.com had a business model. He’s a dumbfuck in a boiler room pumping a penny stock to widows and incels.

Yeah, I said before that at least pets.com served a function and had a defensible purpose/business model. Can't even begin to say the same about BTC.

Sure a penny stock that's actually worth 48 thousand dollars, give or take, and solved a computer science problem which stumped many of the smartest people on the planet for decades. But why split hairs?

Why should solving a computer science problem make it worth something, or anything? Many computer science problems have been solved over the years but none of those have dictated any sort of market cap, beyond the usefulness of what the solution allows. That's not the case here.

You also realize that nearly every major bank in the world threw teams of quants at BTC, to break it or build something superior, and all just happen to now be scaling up their BTC programs.

Take a lap, bro.

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The banks are making money trading BTC because it's there, but the banks I am familiar with are not advising BTC for their PWM clients because it's not a defensible way to protect wealth.

[stalefish3169]

Um, no, there are far, far better stores of value, and that's simply an objective fact. And you're not getting this--I'm not interested in gold/t-bills, nor advocating for either of those, which is markedly different than you and BTC (I think gold is only somewhat less stupid than BTC because of its history, association with currency, and accordant lower chance of crashing to zero/near zero). So no real idea why you brought those things up--you can say whatever you like about those asset classes but nothing about BTC's flaws are changed by comparison.



Yeah, I said before that at least pets.com served a function and had a defensible purpose/business model. Can't even begin to say the same about BTC.



Why should solving a computer science problem make it worth something, or anything? Many computer science problems have been solved over the years but none of those have dictated any sort of market cap, beyond the usefulness of what the solution allows. That's not the case here.

The banks are making money trading BTC because it's there, but the banks I am familiar with are not advising BTC for their PWM clients because it's not a defensible way to protect wealth.

It's adorable you think that banks give a fuck about protecting their customers' wealth.

Also, please enlighten us with which major asset has outperformed BTC as a SOV over the last decade. We'll wait.

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[Dexter Rutecki]

It's adorable you think that banks give a fuck about protecting their customers' wealth.

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It's adorable you think BTC is a currency/store of value/something that isn't a Ponzi scheme.

And yeah, I actually know for a fact that PWM guys care about protecting their customers' wealth. That's how they make more money, and they get fired if they fail (to be clear, I think 90% or more of PWM managers suck, but the good ones are considered good for a reason).

[stalefish3169]

It's adorable you think BTC is a currency/store of value/something that isn't a Ponzi scheme.

And yeah, I actually know for a fact that PWM guys care about protecting their customers' wealth. That's how they make more money, and they get fired if they fail (to be clear, I think 90% or more of PWM managers suck, but the good ones are considered good for a reason).

How about these GS guys that someone was blushing over this AM?

https://slate.com/news-and-politics/...e-of-crap.html

[Skidog]

Why can't I be in it for the money AND think it's an improvement over the current financial system?

You're wrong in that crypto already has changed things greatly in an astoundingly short period of time. You think JPOW and Yellen want to be talking about crypto? The do it because they have no choice. That's what disruptive technology does man. It disrupts.

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You can totally believe both, but ones a total delusional belief.

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[Mustonen]

For clarification since it was mentioned above: I work for a regional community financial institution. Nothing fancy. BTC isn’t disruptive for my day to day and I don’t see substantial possibility of disruption from BTC for the remainder of my career, but shit, maybe I’m being all glass half full over here. People still write checks, though, 50+ years after credit cards and ATMs stormed into the world, so I’m guessing I’m safe. I employ people whose primary expertise is how check systems work, in spite of them being ridiculously antiquated. These people will also have a long and relatively stable career.

The primary way BTC impacts my day to day is feeling bad for people who fall for scams a la Western Union but BETTER, because they put the money into BTC instead of Western Union to the same fucking Nigerian Princes, and those poor folk have way less opportunity of recovering their life savings against crypto than they ever did with Western Union.

Why can't I be in it for the money AND think it's an improvement over the current financial system?

You're wrong in that crypto already has changed things greatly in an astoundingly short period of time. You think JPOW and Yellen want to be talking about crypto? The do it because they have no choice. That's what disruptive technology does man. It disrupts.

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Of course they want to talk about crypto. Why do you think they don’t? Did you miss above where I said that these guys are paid to talk about these things? This is how they justify their fucking existence.

It's adorable you think that banks give a fuck about protecting their customers' wealth.

Also, please enlighten us with which major asset has outperformed BTC as a SOV over the last decade. We'll wait.

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They…uh…they do. Like, their entire liquidity structure absolutely depends on it.

[stalefish3169]

For clarification since it was mentioned above: I work for a regional community financial institution. Nothing fancy. BTC isn’t disruptive for my day to day and I don’t see substantial possibility of disruption from BTC for the remainder of my career, but shit, maybe I’m being all glass half full over here. People still write checks, though, 50+ years after credit cards and ATMs stormed into the world, so I’m guessing I’m safe. I employ people whose primary expertise is how check systems work, in spite of them being ridiculously antiquated. These people will also have a long and relatively stable career.

The primary way BTC impacts my day to day is feeling bad for people who fall for scams a la Western Union but BETTER, because they put the money into BTC instead of Western Union to the same fucking Nigerian Princes, and those poor folk have way less opportunity of recovering their life savings against crypto than they ever did with Western Union.



Of course they want to talk about crypto. Why do you think they don’t? Did you miss above where I said that these guys are paid to talk about these things? This is how they justify their fucking existence.



They…uh…they do. Like, their entire liquidity structure absolutely depends on it.

So you conveniently left out an explanation about how GS trading against its own customers jives with them caring about their clients' wealth.

Same for which major asset class has outperformed BTC over the last decade.

[byates1]

i think it's neat how people thing btc and the entire space is a scam, while others see our current debt and credit based system as a sham creating inequality, currency default etc..

put another 4g into ada. 10,000 ada now. looking to hold half long term and make some quick gains this month etc.

we'll all know for certain 5/10/15 yrs from now..

[stalefish3169]

i think it's neat how people thing btc and the entire space is a scam, while others see our current debt and credit based system as a sham creating inequality, currency default etc..

put another 4g into ada. 10,000 ada now. looking to hold half long term and make some quick gains this month etc.

we'll all know for certain 5/10/15 yrs from now..

Good dip buy. Strong chance ADA pumps into the smart contract launch.

I added some SOL last week.

[Dexter Rutecki]

How about these GS guys that someone was blushing over this AM?

https://slate.com/news-and-politics/...e-of-crap.html

Yes, those guys are specifically not the wealth managers I was referring to--institutional sales guys, traders, investment bankers are in business for the bank and not what I was referring to as an example of managers who are keeping their clients out of things like BTC (because such assets do not meet the criteria of protecting wealth). The guys dealing those securities defrauded people. I'm familiar with that GS fraud and the settlement, although I have yet to come across anyone (that I know of) who was on either side of that trade (I know some GS employees and people whose money is managed by GS, but none of those people came anywhere close to having contact with that fraud--totally different parts of a very large institution). So that example has nothing to do with what we were discussing, despite the fraud occurring at that bank.

[Skidog]

Ok Stalefish you convinced me. I just 2nd mortgaged my house and dumped my entire life into "Blockchain currency". When should I cash out. Or should I? I mean I want to be altruistic, but I want to make sure the money I leave behind benefits the other hodlers. I mean fuck my family and people who might actually need that $$.

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[stalefish3169]

Ok Stalefish you convinced me. I just 2nd mortgaged my house and dumped my entire life into "Blockchain currency". When should I cash out. Or should I? I mean I want to be altruistic, but I want to make sure the money I leave behind benefits the other hodlers. I mean fuck my family and people who might actually need that $$.

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I don't need to convince anyone. I post here for the people who want to be in this thread. Not the trolls who come in here to sling poo.

Not to mention you're way off base with your comments...with a small amount of research, most people can figure out proper private key or custodial management. It's not 2012 anymore where you have to do everything from the command line. Jesus. Grow up.

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[stalefish3169]

Yes, those guys are specifically not the wealth managers I was referring to--institutional sales guys, traders, investment bankers are in business for the bank and not what I was referring to as an example of managers who are keeping their clients out of things like BTC (because such assets do not meet the criteria of protecting wealth). The guys dealing those securities defrauded people. I'm familiar with that GS fraud and the settlement, although I have yet to come across anyone (that I know of) who was on either side of that trade (I know some GS employees and people whose money is managed by GS, but none of those people came anywhere close to having contact with that fraud--totally different parts of a very large institution). So that example has nothing to do with what we were discussing, despite the fraud occurring at that bank.

Ok, how about the much more recent Wells Fargo checking account scandal? Or are they exempt too?

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[Vt-Freeheel]

Byates1 specifically asked me for NFT alpha and I told him about some easy money. The gaming industry is a 200 billion dollar market and growing rapidly. I've person made a lot of money off of it with a minimal amount of effort. If you want to clown on mags trying to help other mags, go for it, but it makes you look like a dick. Go post your new granola recipe in the telemark thread if you don't want to contribute something positive here.

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Ok smartguy, I don't see any worth in this at all, like nothing, other than getting someone charged up on buying smoke and hoping someone else buys it before it dissipates.
I just saw a "product" that reminded me of the Beanie Babies craze and asked a question. Looked into it and find it seems to be some sort of internet drug that has people hoping to make money from air.

Get in, grab some cash, get out before it's gone. Amirite?

Always looking for ways to make extra bank, but some avenues don't look that great to me.

[Skidog]

Ok, how about the much more recent Wells Fargo checking account scandal? Or are they exempt too?

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Seriously bro, you're totally right.....the world bank is out to fuck everyone. I'm not writing my keys anywhere. If I get dementia so be it. Power to the people man.

Also very excited for the green energy this tech will drive. To the fucking moon. #diamondhands #hodl

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[JimmyCarter]

Ok, how about the much more recent Wells Fargo checking account scandal? Or are they exempt too?

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Was that the one where the CEO of Wells Fargo was able to flee the country and take all of his customers assets with him? And the customers had no recourse whatsoever / no way to ever get those billions back?

[stalefish3169]

Ok smartguy, I don't see any worth in this at all, like nothing, other than getting someone charged up on buying smoke and hoping someone else buys it before it dissipates.
I just saw a "product" that reminded me of the Beanie Babies craze and asked a question. Looked into it and find it seems to be some sort of internet drug that has people hoping to make money from air.

Get in, grab some cash, get out before it's gone. Amirite?

Always looking for ways to make extra bank, but some avenues don't look that great to me.

You're right dude. The makers of some of the most all time games including Call of Duty and Guitar Hero are total fucking scammers. Even Magic Johnson is in on it. Better get back to your cabin with no electricity.

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[stalefish3169]

Was that the one where the CEO of Wells Fargo was able to flee the country and take all of his customers assets with him? And the customers had no recourse whatsoever / no way to ever get those billions back?

Not your keys, not your crypto. Rule #1.

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