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

[shera]

omfg

[Vt-Freeheel]

Perfect, Beanies losing value

[subtle plague]

Perfect, Beanies losing value

So the headline is:

"Man who is an idiot is, in fact, an idiot? "

[byates1]

How does he lose money on the tweet/art piece/nft unless he sells for a much lower price?

[byates1]

https://bitcoinmagazine.com/business...-microstrategy

[bennymac]

Moral grandstanding occurs when people use moral talk, instead, to promote themselves or seek status. So a moral grandstander might say, “I am vegan because it is the only moral decision. If you care about the planet, you can't eat animal products.”

Is it moral grandstanding to state that crypto mining is going to stop climate change and turn poverty stricken third world countries into healthy developed societies? Or is that kind of talk allowed because it makes us feel good during crypto price slumps when we can’t be excited about profits.

Is a person grandstanding when if they say “I don’t hunt endangered animals for sport and I don’t think others should either” or “I care about the environment so I vote for politicians who are engaged with plans to transition society towards cleaner energy sources”.

Your vague quote implies no one can take a stance without it being labeled as a negative and self serving act.

[bennymac]

How does he lose money on the tweet/art piece/nft unless he sells for a much lower price?

My 1992 vehicle is still worth $30,000 using this logic. I’ll let the bank know.

And the appraisal business just collapsed due to your revelation.

[garyfromterrace]

How does he lose money on the tweet/art piece/nft unless he sells for a much lower price?

Sina Estavi garnered international attention last March when he bought a nonfungible token of the first-ever Tweet. He paid almost $3 million for the NFT, held it for more than a year, then placed it for sale on a popular NFT auction site earlier this month.
"...
Estavi started the bidding on OpenSea at $48 million, but after nine days, no bid has reached even a fraction of that figure. The highest bid as of Friday was 4.2 ether, or roughly $12,600...."

[byates1]

^ exactly. If you're paying 3 Mil for a tweet/property. You never sell. You certainly don't try to flip it for a 10x in the midst of a massive crash. Idiotic.

[byates1]

My 1992 vehicle is still worth $30,000 using this logic. I’ll let the bank know.

And the appraisal business just collapsed due to your revelation.

The fuck are you talking about.

Anyone that buys art and trys to flip it in a year during a crash is a moron.

[bennymac]

You think collectible NFTs are gonna have a resurgence back to those price levels?

[byates1]

Anything is possible. Certain iconic ones like Dorseys first tweet stand a better chance than pics of apes.

Bought BTC ana Ada this morning. Long hold.

We probably are near the bottom. 12/14 is possible but whatever.

[up an down]

Byates needs to talk to the IRS and the entire financial Industry about his opinion about appraisals.. To tell them what they are doing wrong..... His method is straight from the Trump alternative fact playbook

[bennymac]

Next time I need a loan I’m going to list my assets as worth 1 billion dollars cause anything is possible.

[byates1]

Byates needs to talk to the IRS and the entire financial Industry about his opinion about appraisals.. To tell them what they are doing wrong..... His method is straight from the Trump alternative fact playbook

You're a fuckwit. I never claimed, said, or give a fuck what someone paid/thinks something is worth.

Obviously the nft space is a super far flung part of crypto. I don't pay any attention to it.

Go fuck yourself clown.

[byates1]

Next time I need a loan I’m going to list my assets as worth 1 billion dollars cause anything is possible.

That's how the boys in charge do it. That's how it's always been done. Like it or not it's all a fugazi.

[bennymac]

take a step back and reflect on how in the crypto world people are so sensitive to bad news - even in aspects of crypto they are not even involved in or invested in

if bad news is reported about Tesla stock I don't get all butt hurt and anxious and then feel the need to treat those feelings by pushing back against the news

"the people who put money in Luna haven't lost anything unless they sell! Stupid bears spreading FUD!"

[byates1]

I don't really pay much attention to crazy crypto lunatics. I get that people are dreamers pie in the sky eyed people. Look at religion

Guy I worked w started w 90k and in last year's run up it 10x'd. Mostly xrp, xlm, eth... All alts, not much BTC at all.

He took no profit. He's renting a room in a house, still buying xrp, could have owned a condo. Dreamy. Thinks BTC is shit, old news, it's all about xrp for him. Whatever. I think he's an idiot for not taking profit.

[Mustonen]

Anything is possible. Certain iconic ones like Dorseys first tweet stand a better chance than pics of apes.

Bought BTC ana Ada this morning. Long hold.

We probably are near the bottom. 12/14 is possible but whatever.

He can prove that he’s the only one who bought the NFT associated with that tweet on that particular blockchain. None of it stands a chance because none of it is real.

And when something is worth less than when you bought it, your asset has depreciated in value. By fucking definition, you have taken a loss. Whether that loss is realized or not depends on the asset and the accounting guidance surrounding that particular asset, but now you’re trying to use the accounting rules against themselves and that’s almost as stupid as NFT is to begin with. It’s absurd to suggest otherwise unless there is some intrinsic future value that you can rely upon (e.g. bonds).

[byates1]

Anyone who speculates on this knows this. Or should.

Ppl paying 3 Mil for a tweet could probably care less.

[neufox47]

I’m sure he could care less.


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[byates1]

[stalefish3169]

Who wants to bet that BTC lasts longer than the Euro?

https://www.nytimes.com/2022/07/05/b...n-markets.html


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[J. Barron DeJong]

Who wants to bet that BTC lasts longer than the Euro?

https://www.nytimes.com/2022/07/05/b...n-markets.html


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The currency zone for the Euro has many issues. I don’t think the Euro being low against the dollar is what’s going to trigger it’s failure though. It’s going to be another situation like during the Great Recession where Germany wanted tight monetary policy, while other countries like Greece were suffering through massive unemployment. Sooner or later a country in a situation like Greece is going to decide the costs outweigh the benefits in times like that.

[stalefish3169]

The currency zone for the Euro has many issues. I don’t think the Euro being low against the dollar is what’s going to trigger it’s failure though. It’s going to be another situation like during the Great Recession where Germany wanted tight monetary policy, while other countries like Greece were suffering through massive unemployment. Sooner or later a country in a situation like Greece is going to decide the costs outweigh the benefits in times like that.

The Euro tanking against the dollar and the laundry list of other problems are not mutually exclusive. But it does suck that corrupt Christine and her Davos caviar dining cronies will most likely try to keep the ship from sinking as long as possible by pushing austerity on the most vulnerable.

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