Page 236 of 260 FirstFirst ... 231 232 233 234 235 236 237 238 239 240 241 ... LastLast
Results 5,876 to 5,900 of 6488
  1. #5876
    Join Date
    Nov 2008
    Location
    Edge of the Great Basin
    Posts
    3,373
    Quote Originally Posted by stalefish3169 View Post
    Once again, you just don't get it. Four percent of people don't own 96% of BTC. GTFO out of here with that nonsense.
    According to your glassnode source ‘2% of Network Entities Control 71.5% of All Bitcoin’. While other more recent analysis shows Bitcoin's ownership concentration is much higher: About 95% of Bitcoin supply is held by just 2.4% of accounts and the distribution is skewed toward the largest accounts.

    Either way, and regardless of which % anyone thinks is correct, there are a few hundred guys who own a massive percentage of the market. As with other markets, large individual holders and large institutional holders can and do collude to manipulate price.



    Quote Originally Posted by stalefish3169 View Post
    Keep living in denial. But the reality is, Proof of Work is still THE primary innovation in crypto.
    This is the part of the conversation where folks falsely claim Bitcoin will spur a renewables revolution. Quite the opposite, Bitcoin-mining frees the most stranded of fossil-fuel assets. Just one of many examples:


    Stronghold Digital gets hefty state credits for burning waste coal, exploiting a Pennsylvania law deeming this to be somehow environmentally friendly.

    Stronghold Digital Mining Inc. is a cryptocurrency producer with a twist, one that features prominently in their recent IPO filing. Aware that Bitcoin has an ESG problem because of all the coal burned to produce it, Stronghold is buying its own power plants which … burn coal. Not just any coal; waste coal. Which is, in fact, worse than coal.

    It’s “not economic” to burn waste coal without the state’s credits. In return, Pennsylvanians get dubious benefits. That subsidy implies $16 per ton of waste coal burned, about half the estimated cost of just removing the refuse. So it looks like a bargain — but only if you ignore the emissions. At a notional $50 carbon fee, each ton of waste coal generates another $65 of cost to the environment.

    Of course, there’s an arbitrage of politics and perception to exploit here, whereby local, tangible pollution takes precedence over the universal, abstract — but nonetheless real — kind. The upshot is that while the windfalls will be privatized, it isn’t just Pennsylvanians subsidizing them. Ultimately, we all are.

    https://www.bloomberg.com/opinion/ar...-digital-s-ipo

  2. #5877
    Join Date
    Nov 2002
    Location
    Cloud City
    Posts
    7,869
    Quote Originally Posted by MultiVerse View Post
    Either way, and regardless of which % anyone thinks is correct, there are a few hundred guys who own a massive percentage of the market. As with other markets, large individual holders and large institutional holders can and do collude to manipulate price.
    I agree with this! They've been reporting whales at all time high levels lately. Between 100-1000 coins, iirc. I also agree that the price is manipulated. Institutions are coming in now, big money. I don't think a futures based etf will solve the matter at all, actually will exacerbate it. But Gensler wants to protect retail, hahahaha, what a joke.

    Quote Originally Posted by bennymac View Post
    I’m about to blow both of your minds. Here goes. People that understand crypto at the same level as you (ie you are not as special as you think) can own BTC, can totally understand it’s value, and…wait for it….still profit from shitcoins and garbage NFTs. Because they understand the space. In fact that may be a sign they understand the bigger picture more than you do. Vibes as that sinks in.
    I've heard about you people before. And I agree with you, if you are selling nfts and/or making money off dog coins or even taking advantage of defi for more gains, then you know more than me about that part of the space. A lot more! There's so much going on...
    Live each season as it passes; breathe the air, drink the drink, taste the fruit, and resign yourself to the influences of each.
    Henry David Thoreau

  3. #5878
    Join Date
    Sep 2010
    Location
    Tejas
    Posts
    8,692

  4. #5879
    Join Date
    Nov 2008
    Location
    Edge of the Great Basin
    Posts
    3,373
    Quote Originally Posted by shera View Post
    But Gensler wants to protect retail, hahahaha, what a joke.
    If the feds are going to regulate crypto accounts, in particular interest bearing accounts, that begs the question whether there will be some sort of FDIC insurance. I think both are a bad idea: no to regulation and no to insurance.

  5. #5880
    Join Date
    Dec 2008
    Location
    PDX
    Posts
    3,327
    Quote Originally Posted by MontuckyFried View Post
    I get that this a joke, but it also conflates a lot of issues to mislead viewers.

    Of course, if you're not into Bitcoin, you can always rally behind the very serious people who think minting a trillion dollar coin is a viable move.

  6. #5881
    Join Date
    Nov 2002
    Location
    Cloud City
    Posts
    7,869
    Quote Originally Posted by MultiVerse View Post
    If the feds are going to regulate crypto accounts, in particular interest bearing accounts, that begs the question whether there will be some sort of FDIC insurance. I think both are a bad idea: no to regulation and no to insurance.
    In a free market, corporations and various wall street entities would not receive welfare from the federal government. We do not have a free market (nor a democracy). I have only come to understand that of late and I don't really know what to do about it. I hear that they are protecting pensioners, so there's that. But it seems young/poor people are increasingly left behind. Whatever happened to the american dream? Was it always a lie?

    I guess that is my "meta" comment to your viewpoint. Currently I have assets at coinbase and celsius, so how would regs affect me?
    Live each season as it passes; breathe the air, drink the drink, taste the fruit, and resign yourself to the influences of each.
    Henry David Thoreau

  7. #5882
    Join Date
    Dec 2005
    Posts
    7,219
    Quote Originally Posted by MontuckyFried View Post
    omg thank you that was hilarious. will be shared widely.

    * just because something is humorous doesn't mean it's a joke*

  8. #5883
    Join Date
    Nov 2008
    Location
    Edge of the Great Basin
    Posts
    3,373
    Quote Originally Posted by shera View Post
    But it seems young/poor people are increasingly left behind. Whatever happened to the american dream? Was it always a lie?
    While it's undoubtedly true a lot of people are being left behind, I would argue the root cause is the slowing overall pace of innovation. It's one of the reasons why I tend to focus less on the price/speculative conversation surrounding crypto and more on the technology/efficiency aspects of crypto. Bitcoin was great at the time but it is now surpassed by more innovative crypto technology.

    In wealth per capita terms however, the kids are alright. Young folks have as much or more wealth than people of previous generations did at the same age:

    Name:  wealth-per-capita.png
Views: 189
Size:  72.9 KB

    https://economistwritingeveryday.com...st-generation/

  9. #5884
    Join Date
    Apr 2008
    Location
    Treading Water
    Posts
    5,582
    So, are you mags selling (ETH & BTC) or hodl-ing right now?


    Sent from my iPhone using TGR Forums
    Lots of Cream, Lots of Sugar

  10. #5885
    Join Date
    Nov 2002
    Location
    Cloud City
    Posts
    7,869
    Thanks for sharing that, MultiVerse, I will consider.
    Live each season as it passes; breathe the air, drink the drink, taste the fruit, and resign yourself to the influences of each.
    Henry David Thoreau

  11. #5886
    Join Date
    Nov 2002
    Location
    Cloud City
    Posts
    7,869
    Quote Originally Posted by jm2e View Post
    So, are you mags selling (ETH & BTC) or hodl-ing right now?


    Sent from my iPhone using TGR Forums
    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.
    Live each season as it passes; breathe the air, drink the drink, taste the fruit, and resign yourself to the influences of each.
    Henry David Thoreau

  12. #5887
    Join Date
    Nov 2002
    Location
    Cloud City
    Posts
    7,869
    Quote Originally Posted by shera View Post
    Thanks for sharing that, MultiVerse, I will consider.
    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
    Live each season as it passes; breathe the air, drink the drink, taste the fruit, and resign yourself to the influences of each.
    Henry David Thoreau

  13. #5888
    Join Date
    Dec 2008
    Location
    PDX
    Posts
    3,327
    Quote Originally Posted by MultiVerse View Post
    While it's undoubtedly true a lot of people are being left behind, I would argue the root cause is the slowing overall pace of innovation. It's one of the reasons why I tend to focus less on the price/speculative conversation surrounding crypto and more on the technology/efficiency aspects of crypto. Bitcoin was great at the time but it is now surpassed by more innovative crypto technology.

    In wealth per capita terms however, the kids are alright. Young folks have as much or more wealth than people of previous generations did at the same age:

    Name:  wealth-per-capita.png
Views: 189
Size:  72.9 KB

    https://economistwritingeveryday.com...st-generation/
    LOLOLOLOLOLOL Let's just take out the price of houses, you know the primary asset most Americans use to store their wealth.

    You're such a tool if you're really gonna try and make this case. Look at WaPo chart in his post.

  14. #5889
    Join Date
    Jan 2008
    Posts
    6,787
    Quote Originally Posted by stalefish3169 View Post
    LOLOLOLOLOLOL Let's just take out the price of houses, you know the primary asset most Americans use to store their wealth.

    You're such a tool if you're really gonna try and make this case. Look at WaPo chart in his post.
    You realize he’s using the EXACT same data as the WaPo chart right?
    Did you read the article?

  15. #5890
    Join Date
    Dec 2004
    Location
    Where the sheets have no stains
    Posts
    17,126
    Quote Originally Posted by shera View Post
    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 don't think that is anything shocking or new, that same shit has been happening for a long time and a lot of people grasp that reality, unfortunately a lot do not, probably close to 35%. Question is, what to do about it?
    I have been in this State for 30 years and I am willing to admit that I am part of the problem.

  16. #5891
    Join Date
    Nov 2005
    Posts
    6,276
    Quote Originally Posted by stalefish3169 View Post
    LOLOLOLOLOLOL Let's just take out the price of houses, you know the primary asset most Americans use to store their wealth.

    You're such a tool if you're really gonna try and make this case. Look at WaPo chart in his post.
    So housing is expensive and people need homes, but isn't BTC more important? Confusing.

  17. #5892
    Join Date
    Dec 2008
    Location
    PDX
    Posts
    3,327
    Quote Originally Posted by JimmyCarter View Post
    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.

  18. #5893
    Join Date
    Nov 2005
    Posts
    6,276
    Quote Originally Posted by shera View Post
    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.

  19. #5894
    Join Date
    Jan 2008
    Posts
    6,787
    Quote Originally Posted by stalefish3169 View Post
    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.

  20. #5895
    Join Date
    Nov 2005
    Posts
    6,276
    Quote Originally Posted by stalefish3169 View Post
    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.

  21. #5896
    Join Date
    Dec 2008
    Location
    PDX
    Posts
    3,327
    Quote Originally Posted by jono View Post
    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.

  22. #5897
    Join Date
    Oct 2002
    Location
    my own little world
    Posts
    3,585

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

    Quote Originally Posted by stalefish3169 View Post
    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.
    Last edited by Mustonen; 10-12-2021 at 07:21 AM.
    focus.

  23. #5898
    Join Date
    Aug 2016
    Posts
    4,143
    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.

  24. #5899
    Join Date
    Dec 2004
    Location
    Where the sheets have no stains
    Posts
    17,126
    Its like trying to debate an anti-mask or anti-vax boi. No point, may as well be amused and let it go.
    I have been in this State for 30 years and I am willing to admit that I am part of the problem.

  25. #5900
    Join Date
    Apr 2006
    Posts
    2,495
    i like this stock to flow guy. good listen


Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •