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

[Benny Profane]

Ooh, love to hear him opine on Bitcoin. You wouldn't like it, I'll bet.

[dunfree]

bitching about the corrupt elite then using jay fucking Clayton to prove some point? Dude, he’s the one who was fucking you. Do you not get it?

[MakersTeleMark]

Do you have the patience to watch every shot? I think not. Still laughing.



Do you like apples, because, I like apples.

You are just making an ass of yourself. You should probably stop, but you cannot.

Your failures are public, and you are giving me a serious core workout.

[Bunion 2020]

https://www.msn.com/en-us/money/news...ays/vi-AARUZci

[stalefish3169]

https://www.msn.com/en-us/money/news...ays/vi-AARUZci

Yawn.

https://99bitcoins.com/bitcoin-obituaries/

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[stalefish3169]

Same.



While I can agree or relate with most of what you’ve said (though I’ve been remarkably lucky) (1) I don’t understand why we feel the need to use bullshit words like “asymmetrical” that add nothing to your argument but do make it read like a cryptobro blog and (2) that’s just called gambling. It’s always existed. There have always been speculative investments available. Relying on same to to the degree you advocate is irresponsible. There will be (have been) losers.

This is why it's an asymmetrical bet. BTC is literally 10xing its closest competition.

https://twitter.com/charliebilello/s...WVXebCtsw&s=19

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[stalefish3169]

bitching about the corrupt elite then using jay fucking Clayton to prove some point? Dude, he’s the one who was fucking you. Do you not get it?

I think the guy is a tool, just like his successor Gary. The point is that they tried as hard as they could to kill crypto and couldn't.

"First they ignore you, then they laugh at you, then they fight you, then you win.”

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[JimmyCarter]

This is why it's an asymmetrical bet. BTC is literally 10xing its closest competition.

https://twitter.com/charliebilello/s...WVXebCtsw&s=19

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No, it HAD done that. That ship has sailed.

But let’s assume it continues to outperform. Let’s say Bitcoin goes to half a million a coin. That’s over 10x from here. People will still only get 10x what they can put in now. So if they have $1000 to invest, that could get them $10,000. That’s a phenomenal return, but not life changing. No more millionaires being made off a 1000 investment. You now need capital to make big money off bitcoin.

[Mustonen]

No, it HAD done that. That ship has sailed.

But let’s assume it continues to outperform. Let’s say Bitcoin goes to half a million a coin. That’s over 10x from here. People will still only get 10x what they can put in now. So if they have $1000 to invest, that could get them $10,000. That’s a phenomenal return, but not life changing. No more millionaires being made off a 1000 investment. You now need capital to make big money off bitcoin.

But it’s ASYMMETRICAL!

It possesses asymmetry.

Against something.

Just buy it and stfu.

[dunfree]

I think the guy is a tool, just like his successor Gary. The point is that they tried as hard as they could to kill crypto and couldn't.

"First they ignore you, then they laugh at you, then they fight you, then you win.”

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jay clayton didn’t try, much less try to kill crypto.

I get it though the narrative is the narrative, and anyone who disagrees with the narrative is a moron, cuz line go up, lambos for all, digital utopia.

[stalefish3169]

No, it HAD done that. That ship has sailed.

But let’s assume it continues to outperform. Let’s say Bitcoin goes to half a million a coin. That’s over 10x from here. People will still only get 10x what they can put in now. So if they have $1000 to invest, that could get them $10,000. That’s a phenomenal return, but not life changing. No more millionaires being made off a 1000 investment. You now need capital to make big money off bitcoin.

I'm a fan of putting my money where I can get the best reward for the lowest risk. Right now, that's largely BTC for me. The earliest BTC returns were highest because those people took on extreme risk. If I can "only" get 10x going forward, that's still going to be vastly better than most assets. Even though BTC is still volatile compared to other investments, over the long-term I think it's value is going up and risk is going down. BTC has crossed the chasm. It's here to stay no matter how cranky the geriatric crowd gets.

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[stalefish3169]

But it’s ASYMMETRICAL!

It possesses asymmetry.

Against something.

Just buy it and stfu.

I mean, if you want you could direct your rants towards Blue Benny. He was shilling SHIB recently and that's a reeeeeallly asymmetrical bet. Of course, with extreme risk. We'll have to check back in on prices in a few years.

Just for kicks, Mr. Financial Services, why don't you enlighten us with where we should be looking for yield in this macro environment. It should get very interesting when JPOW has to raise rates next year.

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[Mustonen]

I’m not ranting, just making fun of your buzzwords.

Also, I’m not an advisor and I don’t pretend to be. I’m not betting that BTC won’t go up over the next year, the same way that I’m not betting that it won’t go down. I’m saying that it isn’t the fucking panacea you proclaim, in spite of all your ridiculous zealotry. REALLY stupid shit, like “BTC mining is actually GOOD for the environment!”

I do expect that minimal rate increases over the next year will feel a lot like the rate increases of 2015 and 2016.

What do you do for a living, anyways? Since we’re getting to that level of intimacy.

[stalefish3169]

I’m not ranting, just making fun of your buzzwords.

Also, I’m not an advisor and I don’t pretend to be. I’m not betting that BTC won’t go up over the next year, the same way that I’m not betting that it won’t go down. I’m saying that it isn’t the fucking panacea you proclaim, in spite of all your ridiculous zealotry. REALLY stupid shit, like “BTC mining is actually GOOD for the environment!”

What do you do for a living, anyways? Since we’re getting to that level of intimacy.

Nice cop out. Sounds like you don't know where to invest, same as most of us right now.

I'm a software developer. You're the one who posted your profession on this board. So don't get your panties all in a bunch when people remeber that.

Lastly, my thesis is that while BTC is no doubt energy intensive, over the long-term (coming decades) I believe it will facilitate green energy investment and be a net positive for the environment.

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[Mustonen]

Nice cop out. Sounds like you don't know where to invest, same as most of us right now.

I'm a software developer.

Lastly, my thesis is that while BTC is no doubt energy intensive, over the long-term (coming decades) I believe it will facilitate green energy investment and be a net positive for the environment.

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So is certainty the thing you respect? Adds up, I guess…. I don’t understand the cop out comment.

Ah, I suppose I did know that you were a software developer. Helps round out the picture, though.

And the claims in re: “net positive for the environment” are absurd. If we had time to fight global warming, maybe I could see a thread of sense there, but we don’t, and shit’s getting worse every year, and we have crypto bros beating the drum with a frenzy and a fervor to Keep That Shit Going damned the cost to create something that is, literally, nothing.

[Mustonen]

You're the one who posted your profession on this board. So don't get your panties all in a bunch when people remeber that.

Dude, you asked. And then you keep making it a part of your argument. My panties aren’t bunched in the slightest, but you can also fuck right off.

[stalefish3169]

And the claims in re: “net positive for the environment” are absurd. If we had time to fight global warming, maybe I could see a thread of sense there, but we don’t, and shit’s getting worse every year, and we have crypto bros beating the drum with a frenzy and a fervor to Keep That Shit Going damned the cost to create something that is, literally, nothing.

I've said it before and I'll say it again. The main thing that perpetuates USD hegemony is a ~800B a year military budget. And even though there is too much Boomer "'murica is number one" pride to accept it, the US military is the largest polluter in the world. Not to mention the unending wars and indiscriminate slaughtering of brown people. Without that, USD is "literally nothing."

[stalefish3169]

Dude, you asked. And then you keep making it a part of your argument. My panties aren’t bunched in the slightest, but you can also fuck right off.

I didn't ask. I read it in the credit card thread. Resorting to expletives make you seem very calm.

Also, you act as if your profession makes you more qualified to comment. Not that I wish you or anyone personal harm, but crypto is also a huge threat to your (trad-fi) industry. So it's very relevant. Sorry dude, nobody wants to pay shitloads of fees, wait 3 business days for transactions, and have their money held in escrow anymore.

[Mustonen]

I didn't ask. I read it in the credit card thread. Resorting to expletives make you seem very calm.

Also, you act as if your profession makes you more qualified to comment. Not that I wish you or anyone personal harm, but crypto is also a huge threat to your (trad-fi) industry. So it's very relevant. Sorry dude, nobody wants to pay shitloads of fees, wait 3 business days for transactions, and have their money held in escrow anymore.

Ah, right. You posited that I work in the credit card industry. Point is, you’re the one digging it out and trying to make an issue of it. I do work in traditional FI. I have no real concern whether my career and industry will be around until I can happily retire in 20 years or so, though I don’t imagine that either won’t change significantly. And I pay attention to crypto for precisely that reason - is it a threat? Ehh.. maybe? But haven’t really seen it yet. The threat I’m seeing at this point is just a black hole for life savings to get tossed down, willingly or through fraud. There are other threats that are registering a lot higher on the list at the moment.

In any event, you shouldn’t pay shitloads of fees, you don’t have to wait 3 business days for transactions if you don’t want to, and what’s this about escrow? And yeah, I’m more qualified to comment on those particular points than you are. Like, on a resume or some shit. Doesn’t mean you can’t comment; I don’t have anything to win, here. I have a real narrow little slice of actual expertise and get excited when it comes up. If this were about SDLC I’d defer to you.

BTC? I’m not an expert. Just interested. That’s why I come here.

ETA: “Shouldn’t you disclose that you work in the credit card industry?” Like you’re all Perry Mason. Lulz.

[Benny Profane]

Nice cop out. Sounds like you don't know where to invest, same as most of us right now.

I'm a software developer. You're the one who posted your profession on this board. So don't get your panties all in a bunch when people remeber that.

Lastly, my thesis is that while BTC is no doubt energy intensive, over the long-term (coming decades) I believe it will facilitate green energy investment and be a net positive for the environment.

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Har har. You know, that was an argument for the automobile and oil. It would eliminate horse shit everywhere and trees could keep on growing. Really. How'd that work out?

[Benny Profane]

Oh, and my first couple of snowboards we're asymmetrical. Remember them?

[up an down]

I've said it before and I'll say it again. The main thing that perpetuates USD hegemony is a ~800B a year military budget. And even though there is too much Boomer "'murica is number one" pride to accept it, the US military is the largest polluter in the world. Not to mention the unending wars and indiscriminate slaughtering of brown people. Without that, USD is "literally nothing."

Your comments about the negative aspects of USA government and human activities in general are accurate, in my opinion.. But... Bitcoin will do absolutely nothing to change the negatives... If it makes some people wealthy that's great... It won't be any different than past investments that have made $ for some.

[stalefish3169]

Ah, right. You posited that I work in the credit card industry. Point is, you’re the one digging it out and trying to make an issue of it. I do work in traditional FI. I have no concern that my career and industry will be around until I can happily retire in 20 years or so. And I pay attention to it for precisely that reason - is it a threat? Ehh.. maybe? But haven’t really seen it yet. The threat I’m seeing at this point is just a black hole for life savings to get tossed down, willingly or through fraud.

In any event, you shouldn’t pay shitloads of fees, you don’t have to wait 3 business days for transactions if you don’t want to, and what’s this about escrow? And yeah, I’m more qualified to comment on those particular points than you are. Like, on a resume or some shit. Doesn’t mean you can’t comment; I don’t have anything to win, here. I have a real narrow little slice of actual expertise and get excited when it comes up. If this were about SDLC I’d defer to you.

BTC? I’m not an expert. Just interested. That’s why I come here.

ETA: “Shouldn’t you disclose that you work in the credit card industry?” Like you’re all Perry Mason. Lulz.

I'm digging it out and making an issue of it because it's very relevant. Upton Sinclair said it well, "It is difficult to get a man to understand something, when his salary depends on his not understanding it."

You explained to me how not being able to spend my own money how I want is actually a good thing (it's not). Secondly, here is the receipt for my claim that we are still largely subject to legacy system bullshit that does necessitate 3 days to send money electronically. What do you mean, I don't have to wait that long if I don't want to? Oh, I can let the man stick it further into my 2 hole and pay 10 times as much! Even "slow" BTC with its dinosaur tech /s is much much faster and cheaper. Finally, I used escrow as general term, to describe third parties holding funds, because it was easier to type on my phone. Of course sometimes the slowness of escrow is desired, but for day to day small purchases, I don't think most people like having their money tied up.

[Mustonen]

Yeah, you don’t have to do business with BOA. You know that, right? My team will get your ACH there today if you get it to us early enough in the day. We won’t guarantee it because it’ll depend a little on the receiving FI posting it timely, though if they’re following the rules they’ll post it today.

And we won’t charge you for it.

Want real time? We can do that too. We don’t charge for that either, though there are costs that are largely paid for through net interest margin. Wires aren’t free, though, and international remittances are a slightly different kettle of fish altogether.

And yeah, you got caught by a fraud rule. Fraud controls are good. AI portends to make that significantly better over the next few years. You know what doesn’t make it better? Anonymity and no chargeback/correction capability.

[bennymac]

I mean, if you want you could direct your rants towards Blue Benny. He was shilling SHIB recently and that's a reeeeeallly asymmetrical bet. Of course, with extreme risk. We'll have to check back in on prices in a few years.

Just for kicks, Mr. Financial Services, why don't you enlighten us with where we should be looking for yield in this macro environment. It should get very interesting when JPOW has to raise rates next year.

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Choke on a big bag of dicks you tool. Posting a price chart is not shilling.

You didn’t start this thread. You don’t own this thread. You don’t get to dictate what gets posted in this thread.

Read the above paragraph again.

Now read it a third time.

I agree with some of what you say in here. But your posting style (which I’m guessing reflects your character and personality) is insufferable.