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

[Whiteroom_Guardian]

I’ve never been happy.

Well, there is that tiny fraction of a second when you’re skiing bottomless pow, you start to unweight your skis, and the potential energy stored in them is released back through your legs and core as you roll into your next turn. That split second of weightless rebound makes me happy, but that’s about it.

What were we talking about? Money is the root of all evil, and I don’t trust or respect anyone who takes to the pursuit of it fervently.

Vibes.

[Bunion 2020]

I don’t trust or respect anyone who takes to the pursuit of it fervently.

Nothing wrong with that in my book.

[LeeLau]

glademaster vs Bunny for Idiot of the thread. One man enters.....""

This can't be a scam can it? Life DAO https://lifedao.finance/#/stake

APY - 10,411,634,318,820,530,000,000,000,000,000,000,000 ,000,000,000%.

[JimmyCarter]

glademaster vs Bunny for Idiot of the thread. One man enters.....""

This can't be a scam can it? Life DAO https://lifedao.finance/#/stake

APY - 10,411,634,318,820,530,000,000,000,000,000,000,000 ,000,000,000%.

BRB, off to stake a dollar before quitting my job

[stalefish3169]

No, not monetary history. Just, history. And Weimar is practically today. But, you're showing your ignorance of Weimar, because nothing today besides Argentina and Zimbabwe compare. You know, one reason, a common Euro currency. Duh.

Your rantings of a debased currency are amusing, considering that you are of a class and position in the history and geography of the world that is easily the most advantaged and "rich" in time. A white, (and since this is TGR, a skier, therefore middle to upper middle class) male in the richest, most stable (so far) society ever. Walk into the local supermarket's produce section tonight in the beginning of winter, and tell me life is going to shit. Please.

Well if you want to go back further in time, Herodotus, there are many who argue that currency debasement led to the fall of the Roman Empire. You think there are no other modern countries on the verge of currency collapse? Maybe you've never heard of the G20 nation, Turkey? Or maybe you forgot about when residents of Cyprus had their bank accounts raided by the government when it went bust.

You're correct. I live a fortunate life and am very aware that I was born into circumstances waaaaay above average. However, I have this thing called empathy. I'm upset to be witnessing what is arguably the downfall of the USA. "Official" inflation is now over 6% in the USA and it's obvious that real inflation is much higher. Home ownership is out of reach for many Millennials and Zoomers. There is an epedemic of homelessness on the entire West Coast. I'm not exaggerating when I say it's completely fucked. Connect the dots man. The game is rigged. BTC isn't a panacea, but it's a hard swing of the pendulum in the opposite direction.

[MakersTeleMark]

A must watch if you ask me. And you can read each witnesses advanced testimony by clicking on their name:

https://financialservices.house.gov/...EventID=408705

[Benny Profane]

Well if you want to go back further in time, Herodotus, there are many who argue that currency debasement led to the fall of the Roman Empire. You think there are no other modern countries on the verge of currency collapse? Maybe you've never heard of the G20 nation, Turkey? Or maybe you forgot about when residents of Cyprus had their bank accounts raided by the government when it went bust.

You're correct. I live a fortunate life and am very aware that I was born into circumstances waaaaay above average. However, I have this thing called empathy. I'm upset to be witnessing what is arguably the downfall of the USA. "Official" inflation is now over 6% in the USA and it's obvious that real inflation is much higher. Home ownership is out of reach for many Millennials and Zoomers. There is an epedemic of homelessness on the entire West Coast. I'm not exaggerating when I say it's completely fucked. Connect the dots man. The game is rigged. BTC isn't a panacea, but it's a hard swing of the pendulum in the opposite direction.

Well, I never said the game wasn't rigged, and the man isn't keeping you down. But, inventing some sort of alternative world where you can spend fake funny money isn't the solution to that. Might work, but, I highly doubt it. As a matter of fact, seems to me that you are building wealth in an asset that can be exterminated with a keystroke. Poof. That doesn't sound too safe. But, speaking of which, what is this stuff? An asset or currency? I doubt it can be both.

[byates1]

anyone who watches this and does not think that this discussion is spot on, well... i guess that's like your opinion man..

[stalefish3169]

Well, I never said the game wasn't rigged, and the man isn't keeping you down. But, inventing some sort of alternative world where you can spend fake funny money isn't the solution to that. Might work, but, I highly doubt it. As a matter of fact, seems to me that you are building wealth in an asset that can be exterminated with a keystroke. Poof. That doesn't sound too safe. But, speaking of which, what is this stuff? An asset or currency? I doubt it can be both.

Your understanding of BTC is flawed. It's the most decentralized cryptocurrency by far. The second most powerful nation declared war on it earlier this year and there was ZERO downtime. Oh by the way, did you hear about AWS crashing today? BTC has many thousands of decentralized nodes watching to make sure that there is no funny business going on. Additionally, the miners need to decide which version of the software to run. Even small changes to the code take many months to evaluate. Recently the Taproot upgrade went flawlessly.

Sent from my Pixel 6 Pro using Tapatalk

[byates1]

Well, I never said the game wasn't rigged, and the man isn't keeping you down. But, inventing some sort of alternative world where you can spend fake funny money isn't the solution to that. Might work, but, I highly doubt it. As a matter of fact, seems to me that you are building wealth in an asset that can be exterminated with a keystroke. Poof. That doesn't sound too safe. But, speaking of which, what is this stuff? An asset or currency? I doubt it can be both.

the word currency needs to go away. so does crypto really, it's a digital asset.

listen to the above discussion and tell us what you think. i think you will be in agreement with much of what is being said.

i

[Benny Profane]

Your understanding of BTC is flawed. It's the most decentralized cryptocurrency by far. The second most powerful nation declared war on it earlier this year and there was ZERO downtime. Oh by the way, did you hear about AWS crashing today? BTC has many thousands of decentralized nodes watching to make sure that there is no funny business going on. Additionally, the miners need to decide which version of the software to run. Even small changes to the code take many months to evaluate. Recently the Taproot upgrade went flawlessly.

Sent from my Pixel 6 Pro using Tapatalk

But, you didn't answer a simple question. Is it a currency, a mode of transfer, or, an asset?

If it's the former, then, at the moment, it is horribly flawed simply because the second largest trading nation (some think first) doesn't recognize it. If it's the latter, well, have at it, I suppose. Anything can have value if somebody is willing to buy it. I learned that watching Antiques Roadshow. But dont talk it up like the second coming.

[shroom]

it’s a logical solution to a few of the glaring holes in modern economic theory that have fucked normies, that came with a lot of related sales and a bit of tech application

[Mustonen]

the word currency needs to go away. so does crypto really, it's a digital asset.

listen to the above discussion and tell us what you think. i think you will be in agreement with much of what is being said.

i

I agree that it’s a terrible currency, but care to square the disharmony between deciding it isn’t a currency and the amazeballs utility it’s totally going to have someday to facilitate international remittances? Or is the latter angle mostly bullshit?

And why does crypto need to go away? Elaborate.

[Mustonen]

Sorry in advance for this being disjointed as the thread advances but you and I were having a cordial thought experiment and wanted to rejoin. In the spirit of nerding out

1. Re accounting. I think I overreached. Or at least overreached based on existing tech

- Most tenants will pay in fiat
- Vendors/service providers will bill and be paid in fiat
- "Shareholders"/ token holders can be paid in crypto via a digital wallet
- I envision a multi signature digital wallet real-time updates with a treasury of some stablecoins where "shareholders" can continually monitor input/outputs and match expected "treasury" size so that their expected/projected returns match reality. But there's always one-off expenses for RE holdings. How to verify for that without getting into the same comparable mechanics of standard real world audits?

Therefor i conclude that I can't think of a virtual smart-contract based mechanism that solves enough accounting issues to contribute more than a small savings

2...Jurisdiction

I think that's big. Many investors (speaking as someone on both buy and sell side) make that a substantial factor in risk. I won't touch Chinese or Indian jurisdiction venue opportunities because I know cost of remedies and likelihood of remedies is a substantial hurdle. Same goes for Marshall County of Texas for patents, Bermuda for financial instruments etc.

I do agree about the pyramid scheme/Ponzi aspect (irrespective of my pontificating about all Fiat Currencies also being Ponzis viewed in the long timeframe context ). Smart contracts whether via Crypto tokens, rebase/reserve currency tokens, NFTs attract a lot of scams. However, this doesn't mean all of it is a scam.

I appreciate the dialogue. I think there is utility, but I don’t understand how it gets implemented in any broad sense. I think we’ll see lots of versions deployed within private ecosystems and the concept lives or dies based on the utility that brings (or doesn’t bring). As far as I can tell it doesn’t solve trust, but maybe it moves the point of trust and that can have a huge impact.

[byates1]

I agree that it’s a terrible currency, but care to square the disharmony between deciding it isn’t a currency and the amazeballs utility it’s totally going to have someday to facilitate international remittances? Or is the latter angle mostly bullshit?

And why does crypto need to go away? Elaborate.

To me the world crypto sounds spooky. Most people don't understand it's cryptography, your cryptography, your protection.

Crypto currency gets newcomers thinking it's made up money, as Benny clearly illustrated. When it fact it's a immutable ledger system, and a store of value no nation state can corrupt.

[Mustonen]

To me the world crypto sounds spooky. Most people don't understand it's cryptography, your cryptography, your protection.

Crypto currency gets newcomers thinking it's made up money, as Benny clearly illustrated. When it fact it's a immutable ledger system, and a store of value no nation state can corrupt.

But it’s still made up. Like all money. It’s a store of value if you can convince somebody else it’s a store of value. Like all money. And it’s adorable that you think it’s incorruptible.

[stalefish3169]

But, you didn't answer a simple question. Is it a currency, a mode of transfer, or, an asset?

If it's the former, then, at the moment, it is horribly flawed simply because the second largest trading nation (some think first) doesn't recognize it. If it's the latter, well, have at it, I suppose. Anything can have value if somebody is willing to buy it. I learned that watching Antiques Roadshow. But dont talk it up like the second coming.

It can be all 3. It can be traded for goods and services as a currency. Its network is an awesome set of payment rails. And the IRS classifies it as property.

China can't ban BTC. It can only ban itself from BTC. Will probably go down as one of the worst geopolitical moves in history.

Sent from my Pixel 6 Pro using Tapatalk

[stalefish3169]

Boooom! Amazon investing in WAX project Dibbs. Head of Dibbs used to be WAX community manager before he went to start Dibbs like a year ago.

https://twitter.com/WAX_io/status/14...ah2xnJVhA&s=19

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[Benny Profane]

It can be all 3. It can be traded for goods and services as a currency. Its network is an awesome set of payment rails. And the IRS classifies it as property.

China can't ban BTC. It can only ban itself from BTC. Will probably go down as one of the worst geopolitical moves in history.

Sent from my Pixel 6 Pro using Tapatalk

Now, be honest. Have you ever bought anything with Bitcoin?

China is quite aware of the grand mistakes made in western capitalism and politics, especially in the last twenty years, and do not want that to occur in their society. And, certainly at the moment, those decisions haven't hurt them at all.

[stalefish3169]

Now, be honest. Have you ever bought anything with Bitcoin?

China is quite aware of the grand mistakes made in western capitalism and politics, especially in the last twenty years, and do not want that to occur in their society. And, certainly at the moment, those decisions haven't hurt them at all.

Yes. I have bought things with Bitcoin. But mostly for shits and giggles. My primary use case for it now is as a store of value. Others have different priorities.

Full adoption probably still 10 years out. This thread lays down the plan beautifully.

https://twitter.com/MichaelRihani/st...RMm1TjbwA&s=19

https://twitter.com/MichaelRihani/st...zDyJkh3PA&s=19

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[jackstraw]

Now, be honest. Have you ever bought anything with Bitcoin?

Yeah, my friend bought back access to his ERP for 15k in Bitcoin after hackers stole it about ten years ago.

[Benny Profane]

Yeah, my friend bought back access to his ERP for 15k in Bitcoin after hackers stole it about ten years ago.

Ha, yeah.

[Benny Profane]

Yes. I have bought things with Bitcoin. But mostly for shits and giggles. My primary use case for it now is as a store of value. Others have different priorities.

Full adoption probably still 10 years out. This thread lays down the plan beautifully.

https://twitter.com/MichaelRihani/st...RMm1TjbwA&s=19

https://twitter.com/MichaelRihani/st...zDyJkh3PA&s=19

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You do know that nobody can predict the future, right? Nobody.

[stalefish3169]

You do know that nobody can predict the future, right? Nobody.

Thanks for the alpha. Exit all markets, guys.

[stalefish3169]

Which one of you guys is Brad? Lol

https://twitter.com/aubreystrobel/st...B7VK7XW8w&s=19

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