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Thread: Bitcoin....who's gotten into it?
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12-17-2021, 11:30 AM #6701
What exactly was your goal then? There are some people (jm2e, for example) who come in here seeking investment advice and end up buying doggie coins because of said posts.
It's great that you criticize me for my insufferable posting style while telling me to "choke on a bag of dicks" in the very same post. LULZ
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12-17-2021, 11:31 AM #6702I drink it up
- Join Date
- Oct 2002
- Location
- my own little world
- Posts
- 5,838
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12-17-2021, 11:34 AM #6703
My goal? I have to have a goal everytime I post something in a discussion thread in the “padded room” area in the basement of a ski forum? 😆
This response from you is helpful because it proves my suspicion that you take yourself way too seriously. Get some perspective man.
And yeah choke on a bag of dicks while you’re at it.
Apologies to all mags who are now in dire financial straights from buying dog coins because I posted a price chart here. It’s my fault I didn’t qualify that I’m not a financial advisor.
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12-17-2021, 11:45 AM #6704
Although I'm not a BTC maxi, I do admire all of the work they've put in to make sure BTC is the best money we've ever known while fighting off centralized memes of memes like SHIB.
At the end of the day, ultimately it's up to each person to do their own research. But it's clear that a lot of people wander into here and expect to make mad gainz from the shitcoin of the day. By getting on the SHIB train, your exacerbating many of the worst traits of crypto while you continually shout down from your high horse about BTC.
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12-17-2021, 11:50 AM #6705I drink it up
- Join Date
- Oct 2002
- Location
- my own little world
- Posts
- 5,838
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12-17-2021, 11:52 AM #6706
Peak Boomer Brain has always been to rant against us hegemony, while enjoying all the privileges of that hegemony, and use the privileges to aid and comfort those who are demonstrably shittier. It’s what the boomers did their whole fucking lives.
Bitcoin was cool with genocide coal, crime, extortion, it ain’t a leveler.
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12-17-2021, 11:59 AM #6707
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12-17-2021, 12:03 PM #6708
“ But it's clear that a lot of people wander into here and expect to make mad gainz from the shitcoin of the day.”
Bullshit. You are delusional. Take a lap.
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12-17-2021, 12:10 PM #6709
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12-17-2021, 12:17 PM #6710
One that's attracting billions in CapEx.
https://www.cnbc.com/2021/11/23/lanc...-in-texas.html
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12-17-2021, 12:22 PM #6711
capital. It’s attracting billions in capital. Capex is spending on stuff.
funny how things change
https://lancium.com/press/lancium-cl...owth-strategy/
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12-17-2021, 12:26 PM #6712
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12-17-2021, 12:37 PM #6713
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12-17-2021, 12:56 PM #6714
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12-17-2021, 12:57 PM #6715
Bullish.
https://www.cnbc.com/2021/12/16/mill...o-in-2022.html
Most millennial millionaires have the bulk of their wealth in crypto, and they’re planning to add more in 2022 despite the recent price declines, according to the CNBC Millionaire Survey.
Fully 83% of millennial millionaires own cryptocurrencies, according to the survey.
The crypto holdings of millennial millionaires stand in stark contrast to older generations of millionaires, and could create a new dilemma for wealth management firms and how they work with clients.
Sent from my Pixel 6 Pro using Tapatalk
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12-17-2021, 01:03 PM #6716
With virtually every buyer of BITO underwater how much overhead supply does that put on BTC?
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12-17-2021, 01:04 PM #6717
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12-17-2021, 01:17 PM #6718
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12-17-2021, 01:18 PM #6719
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12-17-2021, 01:23 PM #6720
congrats on taking mustonen’s advice.
https://www.tetongravity.com/forums/...99#post6487099
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12-17-2021, 01:31 PM #6721
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12-17-2021, 01:58 PM #6722
Bitcoin....who's gotten into it?
BITO with average daily volume at 8mm and strong public participation is finally a great hedge vehicle.
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12-17-2021, 02:09 PM #6723
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12-17-2021, 03:00 PM #6724
This is probably too lay-person level for this thread, but when I think about speculative trading in crypto - I ponder the practical utility of things like bitcoin. So this succinct paragraph resonated; there are probably many ways to make $ here but leery that *I* would be able maneuver it as an investment vs. discretionary trading.
While many investors have gone gaga over bitcoin in recent months, Cornell University trade policy professor Eswar Prasad is more circumspect.
"Bitcoin itself may not last that much longer," he told CNBC. "Given that bitcoin is not serving well as a medium of exchange, I don't think it's going to have any fundamental value other than whatever investors' faith leads it to have."
Bitcoin isn't used much for transactions of legal goods and services, so it serves largely as a vehicle for speculation, the currency's critics say.
In addition, private cryptocurrencies may face competition from government ones. Digital currencies have "lit a fire under central banks to start thinking about issuing digital versions of their own currencies," Prasad noted. The Federal Reserve is researching the issue itself.
Bitcoin has soared since its inception 12 years ago, but trading has been extremely volatile. The biggest digital currency recently stood at $47,029, down 2%. It has jumped 47% year to date, but has slumped 22% in the last month.
Another problem for bitcoin is that its use of blockchain technology "isn't very efficient," Prasad said.
The cryptocurrency "uses a validation mechanism for transactions that is environmentally destructive" and "doesn't scale up very well," he said. Bitcoin's carbon footprint exceeds that of New Zealand.
Bitcoin advocates say the currency can act as a hedge against inflation and declines in other assets, such as stocks and the dollar. But that hasn't been proven as of yet.
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12-17-2021, 03:20 PM #6725
Carl
Its not too layperson at all. If there's one thing that the markets should have taught anyone in the past 2 years is that memes, in and of themselves, have a buying pressure power that cannot be ignored.
Respectfully, academics like the good Professor attribute entirely too much rationality to markets and their participants when they make such generalized statements
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