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

[MakersTeleMark]

Exactly a year ago I was into crypto for a hot minute right when Elon was going on SNL for Doge and all that. Then I realized the whales ie Big Banks can still manipulate the crypto market, rendering the 'decentralized utopia trope' meaningless.

How can a country make any financial plans for the future when the BTC fiat currency is all over the place?
Values will only stabilize once regulations are in place and the whole endeavor is rendered moot.

What am I missing?

A very analytical boat.

[byates1]

Coinbase just doubled thier BTC reward on their debit card to 2%. I'll take it..

[Mustonen]

This.

Attachment 416309

What does this mean? BTC being less valuable today than a week ago is irrelevant because you have purchased more BTC? Tell me what I’m not understanding.

[frorider]

In these inflationary times, it’s nice to see something become more affordable

[stalefish3169]

What does this mean? BTC being less valuable today than a week ago is irrelevant because you have purchased more BTC? Tell me what I’m not understanding.

1 BTC = 1 BTC

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[JimmyCarter]

1 BTC = 1 BTC

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So all those charts and claims that showed us the “best performing asset class of all time” as priced in dollars were complete horseshit? It’s actual return has been 0 then??

[Mustonen]

That’s amazing.

[frorider]

The 1 BTC = 1 BTC argument would work a lot better if btc had become a viable currency. Otherwise that argument seems a bit weak.

[Mustonen]

The 1 BTC = 1 BTC argument would work a lot better if btc had become a viable currency. Otherwise that argument seems a bit weak.

Well, and then you have to face up to rampant BTC inflation. And that fucks up ALL kinds of narratives.

[J. Barron DeJong]

So all those charts and claims that showed us the “best performing asset class of all time” as priced in dollars were complete horseshit? It’s actual return has been 0 then??

And this isn’t a problem, because a dollar is a dollar:



It’s a game of Calvinball.

[JimmyCarter]

And this isn’t a problem, because a dollar is a dollar:



It’s a game of Calvinball.

[stalefish3169]

You guys don't get it. Just think how much money and time you could be saving in your own lives if you didn't put in so much effort making yourselves look like Luddite clowns in this thread.

You guys should go outside for the weekend.I know you all have been doing mental gymnastics for years trying to come up with reasons why BTC is a failure as adoption keeps growing, hash rate is at an all time high, and the long-term price trend is up and to the right. Clearly, you're intellectually fatigued after busting your nuts during what could be capitulation week.

And Jong, you deserve a special shout out for trying to compare Zimbabwe's fiat currency with BTC. The whole point of BTC is that a small group of unaccountable people can't just keep printing. Take a lap.

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[Mustonen]

You guys don't get it. Just think how much money and time you could be saving in your own lives if you didn't put in so much effort making yourselves look like Luddite clowns in this thread.

You guys should go outside for the weekend.I know you all have been doing mental gymnastics for years trying to come up with reasons why BTC is a failure as adoption keeps growing, hash rate is at an all time high, and the long-term price trend is up and to the right. Clearly, you're intellectually fatigued after busting your nuts during what could be capitulation week.

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Any mental gymnastics are to try to figure out where Bitcoin bros are coming from and to sort out any truth from the heaps of disingenuous bullshit constantly being bandied about. I forget how many hours has been identified that you guys think you need to put into “do your own research” before you “get it,” but you can be confident that I haven’t put anything like that kind of time into it. Clearly. Or I’d be a Believer too. Right? Isn’t that the narrative?

[J. Barron DeJong]

And Jong, you deserve a special shout out for trying to compare Zimbabwe's fiat currency with BTC. The whole point of BTC is that a small group of unaccountable people can't just keep printing. Take a lap.

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Trust me, I actually do ‘get it’.

A currency or asset is only as valuable as what it can be traded for in the real world. In the real world, over the past week, goods and services as measured in Bitcoin have inflated at an annualized rate of over 76,000%. No money printing needed.

[RoooR]

Any estimates how much credit has been created by the cryto industry? What about other derivatives? Hard to find data on this.

[stalefish3169]

Trust me, I actually do ‘get it’.

A currency or asset is only as valuable as what it can be traded for in the real world. In the real world, over the past week, goods and services as measured in Bitcoin have inflated at an annualized rate of over 76,000%. No money printing needed.

Are you really extrapolating out from a one week sample size? You're dumber than I thought. Lol

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[J. Barron DeJong]

Are you really extrapolating out from a one week sample size? You're dumber than I thought. Lol

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Took a day-and-a-half to come up with that?

Yeah, it’s dumb. No dumber than thinking out of control inflation only happens from printing.

[J. Barron DeJong]

Thread on stable equilibriums of algorithmic Stable Coins (with link to full paper):



https://twitter.com/quentinvandewe2/...dNPOImF5zXtIug

[stalefish3169]

Took a day-and-a-half to come up with that?

Yeah, it’s dumb. No dumber than thinking out of control inflation only happens from printing.

It's the weekend. I went outside. JFC.

[stalefish3169]

Really awesome new read from Lyn Alden. I think it's time I start paying for a subscription.

https://www.lynalden.com/digital-alchemy/

This thread has these vibes so hard.

"But for the majority of people in the world with restrictive monetary regimes and persistently high inflation (over half the world lives in an environment of authoritarianism and/or recurring double-digit inflation), the lack of alternatives has been restrictive. For developed market journalists and academics and analysts to not realize this, is a form of privilege that many of them are unaware of."

[dunfree]

Any estimates how much credit has been created by the cryto industry? What about other derivatives? Hard to find data on this.

it’s a trash ponzi, what matters is cash in and cash out. The media mooks made it look like trash NFT apes pumped by celebs were worth something because pimps pumped. They aren’t.

staledildo is like putting your brain in a blender with Lyndon Larouche and a bit of stale Ron Paul

[stalefish3169]

Thread on stable equilibriums of algorithmic Stable Coins (with link to full paper):



https://twitter.com/quentinvandewe2/...dNPOImF5zXtIug

So do you have any opinions on the article? Or are you just going to link to an 80+ page theoretical research paper with a bunch of equations that you don't understand?

[4matic]

BTC probably survive but there has to be a lot more Luna’s out there. That isn’t just over either. Where did the reserves go?

[dunfree]

BTC probably survive but there has to be a lot more Luna’s out there. That isn’t just over either. Where did the reserves go?

you aren’t so fucking stupid to think any of the pimps here give a fuck are you? The lesson they’ve learned is pump and dump faster, which is good because they ain’t got stamina

[stalefish3169]

BTC probably survive but there has to be a lot more Luna’s out there. That isn’t just over either. Where did the reserves go?

Lyn has a n excellent postmortem in the article I linked above. https://www.lynalden.com/digital-alchemy/

TL;DR The LUNA reserve BTC went to Binance and Gemini.