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

[bennymac]

I had to sell off my five figure position of LUNA to pay taxes last month. Luckily I was in deep profit. This UST drama sucks for the space, but Do got super cocky and put a target on his back which made me want to get out.

I don't think UST and LUNA would've collapsed without some nefarious players intentionally trying to bring it down. Double whammy as Do and the Luna Guard Foundation had to unload their massive BTC holdings in an attempt to save the peg.

This sucks for the space as UST was the most decentralized stable coin by several measures. Interesting day for sure. Lots of people wanted this to happen to Tether for years, but it's standing strong at $1.00. Asshats like Elizabeth Warren and Sherrod Brown gonna be all over this and will use it to push for freedom killing legislation that blocks people's ability to spend their own money how they want. But go buy all the lottery tickets you want and make sure to bet on some sports too.

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Didn’t you tell me this is the Bitcoin thread?

[stalefish3169]

Didn’t you tell me this is the Bitcoin thread?

Yeah, but the not so subtle difference is BTC was at its ATH high then and I was happy because people were making money. Now you're happy because people are losing money. Unfortunately that's the vibe of too many people in this thread. Just look how many non-regular posters came in here to say mean things today while people are losing money. Stay classy.

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[bennymac]

It was a stupid fucking comment when you made it - too bad you can’t deal when it’s thrown back at you. Sad.

I’m not here to celebrate people losing money. You live in a fantasy world where you just make shit up when you feel threatened.

But good luck trying to distract from your rampant hypocrisy. Everyone sees it. Even those of us hodling BTC. Vibes bro!

[stalefish3169]

It was a stupid fucking comment when you made it - too bad you can’t deal when it’s thrown back at you.

I’m not here to celebrate people losing money. And I’m not here for you to try and distract from your rampant hypocrisy. Everyone sees it. Even those of us hodling BTC. Vibes bro.

Once upon a time, I think our first interaction was when you asked me what I thought BTC's negative aspects are. I politely wrote out several paragraphs. Then, for whatever reason, you decided to start saying mean shit to me and calling me a cult member. Now you act all persecuted when I push back. If you act nice, I'll be nice. If you come in here and act like an asshole, that's how you can expect to be treated.

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[bennymac]

Payback is fun, eh?

Thanks for just adding more evidence of your hypocrisy - I appreciate you backing me up like that.

[stalefish3169]

Thanks for just adding more evidence of your hypocrisy.

Payback means reciprocation for something you started, genius. Like I said above, I was nice to you until you started calling me a cult member and such.

Do you seriously have nothing better to do than make an insulting comment that was not related to you at all? And then follow up with like 3 more shit posts? You're seriously pathetic dude. You're like barely one level above dunfree who is arguably the worst bottom feeder on the board.

[bennymac]

Payback means reciprocation for something you started, genius. Like I said above, I was nice to you until you started calling me a cult member and such.

Do you seriously have nothing better to do than make an insulting comment that was not related to you at all? And then follow up with like 3 more shit posts? You're seriously pathetic dude. You're like barely one level above dunfree who is arguably the worst bottom feeder on the board.

Oh I get it. That’s why it’s hilarious to watch your paper thin ego crumble when the payback comes back at you

You literally make shit up on here. That’s what 5 year olds do. Why you haven’t grown out of that immature behavior is beyond me. But when you make up shit about me don’t then call me an asshole for responding.

[stalefish3169]

Oh I get it. That’s why it’s hilarious to watch your paper thin ego crumble when the payback comes back at you

You literally make shit up on here. That’s what 5 year olds do. Why you haven’t grown out of that immature behavior is beyond me. But when you make up shit about me don’t then call me an asshole for responding.

My paper thin ego? There are like 15 dudes who regularly pile on me in this thread, many who have likely never owned any crypto, and never will. It's clearly pretty lopsided. Yet I stay my course and keep standing for what I believe in. Sorry.

You took a cheap jab at me today, on a post that you weren't even mentioned in, on a day that my portfolio is down tens of thousands of dollars, and you're gonna play the, "I was just responding to you" card. I'm going to bed now. You should too.

[bennymac]

My paper thin ego? There are like 15 dudes who regularly pile on me in this thread, many who have likely never owned any crypto, and never will. It's clearly pretty lopsided. Yet I stay my course and keep standing for what I believe in. Sorry.

You took a cheap jab at me today, on a post that you weren't even mentioned in, on a day that my portfolio is down tens of thousands of dollars, and you're gonna play the, "I was just responding to you" card. I'm going to bed now. You should too.

That sound you’ll be hearing in your head when you’re trying to fall asleep is me laughing.

Not at the money you lost. I never did that despite your persecution fantasy and the lies you make up about me to serve it.

But more like laughing at the time you tried to threaten me and TGR for breaking our fiduciary duty when I posted shit you felt was “financial advice” 😂

[J. Barron DeJong]

…Now you're happy because people are losing money. Unfortunately that's the vibe of too many people in this thread.

Bitcoin is a negative-sum game for everyone who’s not a miner. On average, they’ll all cash out less than they put in.

You’re concerned about people losing money? Well, every time someone cashes out and harvests their big gains, that’s locking in losses for everyone else.

So fuck off with your concern about loses, cause you were bragging about cashing out your gains and paying taxes on them just a week or two ago.

[shera]

I use usdc for everything, pegged 1-1 to USD. Earn 1% BTC. Stable

Where?

I also bought the dip, but my buy ladder is exhausted and I'm not at all sure we're done selling. I'm scrambling for more cash - hoping for a relief rally in equities today.

Seems the terra situation was a coordinated attack. One thing about the crypto space - the systems get hardened over time as all weaknesses are exploited. Stalefish I'm so glad you captured your profits and I continue to be amazed at the power of the bitcoin network. The worst that can be done is the dilution, well maybe that's pretty bad when you consider the beatdown of gold.

[MakersTeleMark]

I'm still waiting. You always get a late powder day in a volatile weather pattern. Max pain means something completely different for me.

[Mustonen]

There are like 15 dudes who regularly pile on me.

Oh damn. What did you do to piss off byates?

[shera]

Bitcoin is a negative-sum game for everyone who’s not a miner. On average, they’ll all cash out less than they put in.

That is simply untrue. No one that has held longer than a 2-3 years is ever in losses when cashing out. There's a ton of math on this, dyor.

And mining is a painful slow game, equipment outlay plus energy costs plus volatile PA. Not for everyone. Actually I am wondering about miner capitulation - a lot of big outfits must be in revenue losses plus hodl losses plus debt for buildout right now. Who will buckle and sell coins, and when?

[Mustonen]

That is simply untrue. No one that has held longer than a 2-3 years is ever in losses when cashing out. There's a ton of math on this, dyor.

How do you figure? Do my own research? Yeah, I did. The only input to BTC is people buying BTC. It is inherently, structurally, negative-sum. It doesn’t do anything else that’s valuable. “A ton of math on this.” Fucking please. Is this “math” taught in the same textbook that expounds on alchemy and astrology?

“Simply untrue?” Expand. In terms that you understand. Don’t just drop a link to some BTC propaganda whose sole purpose is to froth up the masses so more people will buy more BTC.

[JimmyCarter]

How do you figure? Do my own research? Yeah, I did. The only input to BTC is people buying BTC. It is inherently, structurally, negative-sum. It doesn’t do anything else that’s valuable. “A ton of math on this.” Fucking please. Is this “math” taught in the same textbook that expounds on alchemy and astrology?

“Simply untrue?” Expand. In terms that you understand. Don’t just drop a link to some BTC propaganda whose sole purpose is to froth up the masses so more people will buy more BTC.

It’s not a ton of math. It’s grabbing a chart and drawing a two year horizontal line and seeing if it’s ever at a lower point.
So while the comment may have worked in the past, looks like a bunch of 2-3 year holders could have sold at a loss. I DMOR

[Mustonen]

It’s not a ton of math. It’s grabbing a chart and drawing a two year horizontal line and seeing if it’s ever at a lower point.
So while the comment may have worked in the past, looks like a bunch of 2-3 year holders could have sold at a loss. I DMOR

So “a ton of math” is just “line go up?”

Are we really just doing a bunch of math around trends? There isn’t any fundamental analysis that supports anything other than a negative-sum game?

[JimmyCarter]

So “a ton of math” is just “line go up?”

[summit]

It doesn’t do anything else that’s valuable.

It does some uniquely valuable things, but the problem is that the two largest are unstable or random and stem from the same feature.
1. Provide a good means for exchanges or as part of laundering ill gotten gains that is key for criminal enterprises. <- Unstable as this is a social negative and authorities must work to counter this and will work harder as time passes.
2. Provide a means of exchange that has some resilience against central authorities. <- Not usually needed, particularly in first world nations.

China banned it for 2.
The West might end up banning it for 1.

[shera]

It’s not a ton of math. It’s grabbing a chart and drawing a two year horizontal line and seeing if it’s ever at a lower point.
So while the comment may have worked in the past, looks like a bunch of 2-3 year holders could have sold at a loss. I DMOR

Yeah, I was thinking about on chain analysis and hodl waves and that stuff. I'm not here to teach it or shill it. And I also wonder about diminishing returns going forward.

[shera]

I have a questions about the ignore feature. I tried to put someone on ignore and now their posts are in blaring white in your face but without words, arguably worse than just passing over the comments. Is there any way to just get someone off the screen altogether?

[Bunion 2020]

^^^ If only.

Ignore is still not IGNORE.

[shera]

sigh

[Bunion 2020]

Oh well, by your response I have not earned that honor so there is that.

[shera]