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

[stalefish3169]

You realize he’s using the EXACT same data as the WaPo chart right?
Did you read the article?

Just because it's the same data doesn't mean the analysis is the same. Anyone making the argument that zoomers and millennials have it as easy as boomers is not doing so in good faith.

[jono]

What do you say to the conventional wisdom that the 1% have a disproportionate slice of the pie compared to the last century? to levels not seen since the gilded age? I guess I could dig up some data/chart if you need it

I'd be interested in seeing that. Also interested in seeing how you (the proverbial you) normalize levels of wealth relative to Maslow's hierarchy of needs or some constant measure of utility. Seems complicated but worthwhile.

[JimmyCarter]

Just because it's the same data doesn't mean the analysis is the same. Anyone making the argument that zoomers and millennials have it as easy as boomers is not doing so in good faith.

I disagree with the premise so I refuse to understand it!
RTFA.

[jono]

Anyone making the argument that zoomers and millennials have it as easy as boomers is not doing so in good faith.

HWKYATPPS

It's possible to make an argument that anyone who disagrees you does so in bad faith without making your argument in bad faith. But it's really hard.

[stalefish3169]

So housing is expensive and people need homes, but isn't BTC more important? Confusing.

Well the problem is that each time Jerome and his buddies hit CTRL + P, everyone who owns assets gets richer, and everyone who doesn't gets poorer. Which generations do you think own more assets? Now consider that something outrageous like 40% of all dollars were created in the last year. Younger generations just got royally hosed while older generations are high-fiving each other over asset inflation.

BTC is designed to mitigate this. Its issuance schedule doesn't increase due to the whims of insiders. In fact, it's programmed to get scarcer over time. So BTC is an asymmetrical bet that people can use to keep their savings from getting inflated away.

[Mustonen]

Well the problem is that each time Jerome and his buddies hit CTRL + P, everyone who owns assets gets richer, and everyone who doesn't gets poorer. Which generations do you think own more assets? Now consider that something outrageous like 40% of all dollars were created in the last year. Younger generations just got royally hosed while older generations are high-fiving each other over asset inflation.

BTC is designed to mitigate this. Its issuance schedule doesn't increase due to the whims of insiders. In fact, it's programmed to get scarcer over time. So BTC is an asymmetrical bet that people can use to keep their savings from getting inflated away.

There was a brief period of time in Feb that the money supply increased at a 40% yoy rate. I don’t believe that was sustained such that actual money supply increased by 40%. Splashy stat and all, but….

If you’re hodling tons of cash, you got hosed. Otherwise, keeping the economy pumping probably helped you, especially if you don’t have significant assets. Are you saying that the younger generations are hodling tons of cash? All of that aside, I would love to hear you articulate how deflation is a good thing for those on the lower end of the economy.

Also, using extraneous words like “asymmetrical” belongs in the “things that amuse you” thread and should be a dead giveaway for bullshit spinning.

[dunfree]

So the crypto-shill is crowing about the creation of a couple trillion in crypto, but still bitching about the fed like some boomer goLd crank?

the eternal incoherence.

[Bunion 2020]

Its like trying to debate an anti-mask or anti-vax boi. No point, may as well be amused and let it go.

[byates1]

i like this stock to flow guy. good listen

[frorider]

I don’t buy into the save the world/ cure cancer rhetoric but I think stalefish ain’t a shitposting cretin like mtuhockey.

Meanwhile the El Salvadoran scheme looks to be murky as hell, naturally.

Mr. Bukele has treated the bitcoin policy as a state secret. He has classified all information related to Chivo Wallet, which was created with taxpayer funds, but is run as a private enterprise by undisclosed individuals.

. “What Bukele is doing is not bitcoin, but a centralized, state-run banking system,” said Mario Gómez, a Salvadoran data expert who was detained by police and held for six hours last month on unspecified accusations of financial crimes after organizing social media seminars about cryptocurrency risks. “It is the antithesis of the principles of bitcoin champions.”

[Bunion 2020]

I don't think he is a Troll, he is a True Believer and nothing will change that. Best of luck to him.

[jm2e]

I am selling btc into fiat and eth into link.

I should add, I am mining btc and eth and I have a long term hodl stash of btc. Context.

Thanks. I alway appreciate your honest & CONCISE opinion.
It doesn’t always have to sound like a bunch of insecure college professors competing against each other to see who can use the most words and give the most examples.


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[MakersTeleMark]

Took some profits from SOL and put into BTC/ETH 60/40. I have to get better at stacking real sats instead of being so alt heavy.

[shera]

Thanks. I alway appreciate your honest & CONCISE opinion.
It doesn’t always have to sound like a bunch of insecure college professors competing against each other to see who can use the most words and give the most examples.


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I know! They make my eyes start to glaze over. I respect the debate as it concerns the future of money, but I get worn out thinking about it. I study it all as much as I can handle, I mean the macro picture. I never wanted to care about money, but here we are. As for the personal attacks, they just make me lose respect for any argument.

Anyway, maybe you are interested - I also have a buy order ladder between 35k-45k. For me 35k is worst case scenario because 35k was the opening value of the 3rd quarter. lfg

[stalefish3169]

Wow. What an epic thread. Bears are fucked. https://twitter.com/MichaelRihani/st...V76FQe8Rw&s=19

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[jm2e]

I know! They make my eyes start to glaze over. I respect the debate as it concerns the future of money, but I get worn out thinking about it. I study it all as much as I can handle, I mean the macro picture. I never wanted to care about money, but here we are. As for the personal attacks, they just make me lose respect for any argument.

Anyway, maybe you are interested - I also have a buy order ladder between 35k-45k. For me 35k is worst case scenario because 35k was the opening value of the 3rd quarter. lfg

Do you think it's too ham-fisted to have BTC limit orders from 58K - 60K at $5000 steps? I'm talking small fractions of BTC.
Similar orders with ETH from 3800-4000 with $500 steps... fractions of ETH.
Or is that dumb?
Putting it into USDT, because no other reason than because.

[stalefish3169]

WAGMI https://twitter.com/krugermacro/stat...dZTH_cfBA&s=19

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[shera]

Do you think it's too ham-fisted to have BTC limit orders from 58K - 60K at $5000 steps? I'm talking small fractions of BTC.
Similar orders with ETH from 3800-4000 with $500 steps... fractions of ETH.
Or is that dumb?
Putting it into USDT, because no other reason than because.

You mean at $500 price increments? That's exactly what I do (but $1000 currently). Not sure if it's optimal, but it gives me peace of mind. I never get fud or fomo. You can calculate your levels when the market is quiet, place your orders, and then just watch everything unfold. It's fun that way.

One consideration is nonlinearity - the human mind thinks in linear terms and btc is not linear at all. ALL the charts we look at are log scale! Practically speaking that means as btc price increases (exponentially) my sell ladder has to adjust accordingly.

Not a fan of USDT.

[shera]

60k on the brink. lfg

[shera]

aaaand 60k! stalefish where are you, share the moment!

[stalefish3169]

aaaand 60k! stalefish where are you, share the moment!

I don't know, could be dead cat bounce. Some of the guys were saying BTC tech is obsolete.

[shera]

yeaaah

[jm2e]

Sure would be funny if I just sold everything as this space ship was finally taking off!


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[shera]

Sure would be funny if I just sold everything as this space ship was finally taking off!


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OMG I hope you don't do that.

Supposedly 1 or 2 futures etfs are approved.

[byates1]

btc crushing.

i wouldn't sell anything. i have 3 time frames: forever, 6/12 months, and everyday.

i'll hold half or more forever, i'll be on the lookout for a 50% selloff early mid next year after this run to 100-200k. i'll try and time the top as best i can, convert into stablecoin, and rebuy at the bottom. then we go to a million in '24/'25.

the everyday is on the way up to next spring. i use the coinbase card earning btc on every transaction.

we shall see.