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

[Benny Profane]

The word "crypto" just sounds creepy to me.

[Brock Landers]

Love the mental gymnastics to justify a take

[pureantigravity]

An interesting development if not hilarious. Craig Wright, the self-professed creator of Bitcoin, won a legal battle in the High Court today to remove the whitepaper from Bitcoin.org.
https://decrypt.co/74657/bitcoin-inv...g-wright-cobra

Neither Satoshi nor the pseudonymous operator of Bitcoin.org can mount a defense. Craig Wright won by default. LOL.

Not sure why Bitcoin.org's pseudonymous operator couldn't just use a lawyer to keep privacy.

[LeeLau]

This thread is completely worthless.

I’m about to come into a large sum of money and I need to invest it. I was thinking maybe 10 to 25 percent in crypto and the rest in stocks n bonds. Normally there are some really smart people on TGR no matter what the subject. Vaccines, bikes, bread baking, donkeys, espresso, you name it and somebody on TGR has a PhD in it. This crypto thread is the exact opposite.

I just looked at this thread from start to finish and it was zero help to me. This entire thread is nonstop stupidity.

Yes. The signal to noise ratio is out of hand. I know this will get ignored but this is what I would do purely from the purpose of a financial play

I would allocate no more than 5% of my net worth into Crypto. I would be mentally and emotionally prepared to lose all of it. I would assume that it's a binary outcome event; either the crypto portion skyrockets or it goes to zero. To be clear the "I" is allegorical - it doesn't refer to my own strategy since everyone's risk tolerance is different.

[bennymac]

Oh I didn't realize the only investing options are crypto, meme stocks, or big banks. Thanks for making it so simple.

Shit I'll have to rethink my ethical investing. Cue the FUDr's to tell me that "ethical investing" isn't 100% perfect so I should feel like a failure for even trying.

Interesting to hear that big banks are into fossil fuels - and that's bad.

But bitcoin is driven by coal but that's ok - because in some imagined future it will usher in the green energy revolution that otherwise no one is interested in.

[stalefish3169]

Oh I didn't realize the only investing options are crypto, meme stocks, or big banks. Thanks for making it so simple.

Shit I'll have to rethink my ethical investing. Cue the FUDr's to tell me that "ethical investing" isn't 100% perfect so I should feel like a failure for even trying.

Interesting to hear that big banks are into fossil fuels - and that's bad.

But bitcoin is driven by coal but that's ok - because in some imagined future it will usher in the green energy revolution that otherwise no one is interested in.

Is Elon in bitcoin's good books today? Hard to keep track of whether or not he's a star for having electric car and space businesses or is he a troll to be ignored. Seems to be 100% dependant on his tweets hurting bitcoiners wallets.

Well the big banks are BTC's primary competition whether you want to accept it or not. So you guys should think twice before using the "But why do we need BTC when we have Zelle?" argument. Fossil fuels are inherently going to contribute to climate change. BTC runs on electricity which can and often does come from renewables. The miner exodus out of China will accelerate the switch to renewables IMO.

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[Benny Profane]

Well the big banks are BTC's primary competition whether you want to accept it or not. So you guys should think twice before using the "But why do we need BTC when we have Zelle?" argument. Fossil fuels are inherently going to contribute to climate change. BTC runs on electricity which can and often does come from renewables. The miner exodus out of China will accelerate the switch to renewables IMO.

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Electricity often comes from renewables. You heard it here, folks.

[MultiVerse]

That's why all the Chinese miners moved their operations to Kazakhstan because of the cheap renewa... oh, let's just ignore that.

[stalefish3169]

Oh, man, if you're going to try to find climate change innocence and purity in your long term investments, you're going to happy to find dog food in your pantry at age 70.

Dude, every other anti-BTC post in this thread revolves around the BTC is boiling the oceans narrative. And now you're claiming that trying to make green investments is nonsense. Can't have it both ways.

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[stalefish3169]

That's why all the Chinese miners moved their operations to Kazakhstan because of the cheap renewa... oh, let's just ignore that.

Sounds like some of them are moving to Borat Land but "all" seems like a stretch.

https://www.google.com/amp/s/www.cnb...r-exodus-.html

"Texas is an ideal destination for miners, thanks to its abundance of solar and wind power, its unregulated market, and its crypto-friendly political stance"





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[MultiVerse]

Not all as in all of them, all as in all the miners who moved their operations to Kazakhstan.

Texas miners made their pitch by arguing Texas has excess capacity in order to handle peak demand and that they can switch off when the grid gets expensive. The problem with that narrative is bitcoin mining will burn more fossil fuel at night when the sun isn't shining, or when the wind isn't blowing, or in general when fossil energy is relatively cheap.

Miners are competing against the cheapest continuously available source of energy. Sometimes that's renewables, most of the time it's fossil fuels in places like Kazakhstan and waste coal in western Pennsylvania.

Even when bitcoin miners tout renewables in places like El Salvador, saying they're going to use volcanoes, it displaces what little renewables the country has when the other 90% comes from burning oil and wood. As in Texas, it's effectively burning more oil directly

[TahoeJ]

It does seem ridiculous to give big banks a pass for literally funding fossil fuel production, while hammering Bitcoin for using energy from the grid. The former is much worse than the latter. They both suck, which is what some of us have been trying to explain for a while in this thread.

[stalefish3169]

Not all as in all of them, all as in all the miners who moved their operations to Kazakhstan.

Texas miners made their pitch by arguing Texas has excess capacity in order to handle peak demand and that they can switch off when the grid gets expensive. The problem with that narrative is bitcoin mining will burn more fossil fuel at night when the sun isn't shining, or when the wind isn't blowing, or in general when fossil energy is relatively cheap.

Miners are competing against the cheapest continuously available source of energy. Sometimes that's renewables, most of the time it's fossil fuels in places like Kazakhstan and waste coal in western Pennsylvania.

Even when bitcoin miners taught renewables in places like El Salvador, saying they're going to use volcanos, doing so displaces what little renewables the country has when the other 90% comes from burning oil and wood. As in Texas, it's effectively burning more oil directly

I guess you're right...we should just stick with Petrodollars.



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[pureantigravity]

Miners are competing against the cheapest continuously available source of energy.

Yes. Miners are also competing against the most efficient chips. The greatest electricity consumption and the greatest electronics waste. Nakamoto invented Proof of Waste.

It does seem ridiculous to give big banks a pass for literally funding fossil fuel production, while hammering Bitcoin for using energy from the grid. The former is much worse than the latter. They both suck, which is what some of us have been trying to explain for a while in this thread.

Fossil fuels provide much needed energy for society. Bitcoin is arguable bad tech that fosters MLM Ponzi Negative Sum 'investments'. Thanks for showing us all what a bad comparison is.

[pureantigravity]

I would allocate no more than 5% of my net worth into Crypto. I would be mentally and emotionally prepared to lose all of it.

Great! Take my 5% and burn it! Even the dubious crew at Grayscale said only 2% to 3% back in 2017. When was the last time a financial advisor recommended you put anything in an investment under the pretext "I would be mentally and emotionally prepared to lose all of it" ? LOL

Look at these OAT DRINK STOCKS. Maybe put 5% in it and be mentally and emotionally prepared to lose all of it. LOL
Look at these FUTURES. Maybe put 5% in it and be mentally and emotionally prepared to lose all of it. LOL
Look at these STONKS. Maybe put 5% in it and be mentally and emotionally prepared to lose all of it. LOL

Even with stonks, at least there is a modicum of underlying fundamental or valid technical analysis.

[MultiVerse]

It does seem ridiculous to give big banks a pass for literally funding fossil fuel production, while hammering Bitcoin for using energy from the grid. The former is much worse than the latter. They both suck, which is what some of us have been trying to explain for a while in this thread.

The latter (bitcoin mining) is worse because on a per capita basis it's one of the most wasteful uses of energy ever created.

On top of that, what a lot of people are getting wrong with the big bank petrodollar narrative is the notion they are separate entities. They are not. A lot folks who once worked for Big Banks and in the petroleum industry now work in crypto. Bitcoin miners, for example, are raising capital on Wall Street to reopen coal plants in America. Big Banks are heavily invested in crypto.

It would be better to the lose ideological bluster and instead focus on things as they are.

[bennymac]

every type of non-renewable energy is the exactly the same?

no one in here is religiously defending big banks and fossil fuel

lots of people are in here religiously defending bitcoin and dirty coal use - or talking about Central America as a justification/distraction for dirty coal use

[pureantigravity]

every type of non-renewable energy is the exactly the same?

no one in here is religiously defending big banks and fossil fuel

lots of people are in here religiously defending bitcoin and dirty coal use - or talking about Central America as a justification/distraction for dirty coal use

Are you racist? Just asking.

In other news, Binance is banned from the UK and they have no more Sterling currency payment providers. If the people can't sell then they are forced to hodl. Ergo price goes up. This is great for Bitcoin!

[pureantigravity]

This thread is completely worthless.

No it isn't. Where else can you find talk about the #Laser Eyes movement?

Yes. The signal to noise ratio is out of hand.

You are concerned about the signal to noise ratio in a thread that talks about ponzis run by people with these social media profiles. You realize the irony of that?

My broker called me to tell me about this promising stock. He said, "look at these LASER EYES on #influencers. Maybe put 5% in it and be mentally and emotionally prepared to lose all of it." LOL

So I answered, "Why would I want some dude with #laser #eyes to vaporize 5% of my life's savings?"
He answered, "To bank the unbanked and make our future green."
Needless to say I went ALL IN. LOL.

[Skidog]

Sounds like some of them are moving to Borat Land but "all" seems like a stretch.

https://www.google.com/amp/s/www.cnb...r-exodus-.html

"Texas is an ideal destination for miners, thanks to its abundance of solar and wind power, its unregulated market, and its crypto-friendly political stance"





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Texas can't even supply power to the citizens...

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[MakersTeleMark]

This thread has more dogshit than a doge convention.

[Benny Profane]

Dude, every other anti-BTC post in this thread revolves around the BTC is boiling the oceans narrative. And now you're claiming that trying to make green investments is nonsense. Can't have it both ways.

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Is there a little maze that the little you runs around in in your brain, just trying to find your way.

I mean, how fucking absurd that you, our resident Crypto head cultist, even mentions "green investments".
It was 115 in Oregon the other day, and the ocean is corroding the great line of east coast condo towers so much that there is no warning, and you want to argue for silly money that requires more power than Seattle. What the fuck. And then you twist it around 180 by saying that massive use of power to make funny money will encourage the creation of more clean power! Which will be used to make more funny money! Do you understand the ridiculousness?

[Benny Profane]

Texas can't even supply power to the citizens...

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I was wondering if he knew that, or was being ironic.

[stalefish3169]

Is there a little maze that the little you runs around in in your brain, just trying to find your way.

I mean, how fucking absurd that you, our resident Crypto head cultist, even mentions "green investments".
It was 115 in Oregon the other day, and the ocean is corroding the great line of east coast condo towers so much that there is no warning, and you want to argue for silly money that requires more power than Seattle. What the fuck. And then you twist it around 180 by saying that massive use of power to make funny money will encourage the creation of more clean power! Which will be used to make more funny money! Do you understand the ridiculousness?

As I've stated before, I believe the most effective mechanism for driving change is money. Fossil fuels receive a fuck ton of subsidies and make a shit ton of money. That's why they are so pervasive even though we know they are a time bomb. The money is also why we have gone to war multiple times. If you could've masked that fuck stick Rummy before he died today, he would've told you we went into Iraq for the oil (money) not for fucking WMDs.

BTC offers a new paradigm of profit motivation we've never seen before. Consequently, it has the potential to drive new investment and innovation at a completely new scale. But don't take my word for it. Listen to Ross Stevens, NYDIG's Executive Chairman break it down. Skip to 25 min mark for energy topic. But I suggest you watch the whole video.

https://www.youtube.com/watch?v=Noob...ature=youtu.be

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[Benny Profane]

You still don't get it.

Have you heard about the conundrum of the chicken and the egg?