Bitcoin / Cryptocurrency Discussion (And Predictions)

[TinyTim]

Where do you get off making such a wildly inaccurate and foolish statement? Are you really going to claim that Bitcoin is more decentralized than a privacycoin? What are you smoking?

Decentralization and privacy are two completely different things.

 

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[RussRussman18]

Decentralization and privacy are two completely different things.

Doesn't matter. Bitcoin is one of the LEAST decentralized cryptocurrencies

 

[daivey]

High value post from peter schiffs new account

no different than claiming it's a "store/transfer of value"...
lol

 

[TinyTim]

Doesn't matter. Bitcoin is one of the LEAST decentralized cryptocurrencies

Why?

 

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[jerrywil]

What are the predictions on LUNA? I bought some couple of months ago and now it doesn't look very good.
We are also discussing with the friends if we should invest in buying a crypto license here and how profitable it can be.
Curious to hear different opinions.

 

[Timmy C]

Where do you get off making such a wildly inaccurate and foolish statement? Are you really going to claim that Bitcoin is more decentralized than a privacycoin? What are you smoking?

What? Lol

Some of y'all really need to read more.

 

[Timmy C]

What are the predictions on LUNA?

RIP

 

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[Timmy C]

no different than claiming it's a "store/transfer of value"...
lol

When people by it are they not storing the value they created via working/business income.

If they buy something with it or send it to someone, is that not transferring said value?

What do you think is more likely to hold value, Bitcoin, or the dollar and why?

 

[Timmy C]

no different than claiming it's a "store/transfer of value"...
lol

How do you figure it doesn't store or transfer value, when with bitcoin, unlike fiat, your savings don't get diluted?

Please explain.

 

[KAIZOS]

Seeing these responses it is obvious it is still really early

 

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[nitrousflame]

Seeing these responses it is obvious it is still really early

Given the average person's knowledge of how regular old fiat money works, it is really no surprise that something like bitcoin is still so misunderstood.

 

[KAIZOS]

Given the average person's knowledge of how regular old fiat money works, it is really no surprise that something like bitcoin is still so misunderstood.

This 100%.

I have been researching fiat and the current the financial system for at least 2 years now, and it is so complex that I am still learning new things everyday.

 

[MitchC]

An exchange I forgot I had coins on just emailed me offering 40% apr. How nice of them to remind me to pull my coins off of it.

Also I saw a tweet that said the fed usually lowers rates when things go to shit so they’re probably raising them so they can lower them again

Makes no sense but it is a good reminder how F*cked the fed and fiat is, we have nothing to worry about long term. They’ve been doing the same nonsense for years, it’s not going to change any time soon.

Also I see California is giving people inflation stimulus checks, solving inflation with more inflation.

The govt have a playbook and they’re sticking to it. Solve every problem by printing as much money as possible.

 

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[Kevin88660]

Given the average person's knowledge of how regular old fiat money works, it is really no surprise that something like bitcoin is still so misunderstood.

Most crypto enthusiast do not know much either other than fiat inflates..

 

[MitchC]

Some hopium and a laugh

 

[Antifragile]

MicroStrategy has purchased an additional 480 bitcoins for ~$10.0 million at an average price of ~$20,817 per #bitcoin . As of 6/28/22
@MicroStrategy
holds ~129,699 bitcoins acquired for ~$3.98 billion at an average price of ~$30,664 per bitcoin.

MicroStrategy Acquires Additional 480 Bitcoins

June 29, 2022

www.microstrategy.com

 

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[Kevin88660]

MicroStrategy has purchased an additional 480 bitcoins for ~$10.0 million at an average price of ~$20,817 per #bitcoin . As of 6/28/22
@MicroStrategy
holds ~129,699 bitcoins acquired for ~$3.98 billion at an average price of ~$30,664 per bitcoin.

MicroStrategy Acquires Additional 480 Bitcoins

June 29, 2022

www.microstrategy.com

10 million. A symbolic move.

 

[GPM]

Wow, so they need a 50% increase just to break even. That's crazy

 

[Antifragile]

I know it is a winter for crypto. It is the dot.com for crypto and many lost hope. I've been wrong before.

But I return to the use cases as my guide for my own investment decisions.

Part of the reason we have this wild ride is the ease of borrowing. Leverage back in 1960s required long meetings with your bank, in the 2000s we saw the start of a shift. In 2020 borrowing technology has made it as easy as clicking "add to cart" on Amazon. That's part of the reason for the swings. It is also same reason that explains to me why this technological space has huge long term potential and life.

My brain hurts just thinking of all the applications of blockchain for the future, there are that many.

In short, crypto will be fine. There will be another rally. There will be another winter after that.

 

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[Trevor Kuntz]

Wow, so they need a 50% increase just to break even. That's crazy

Yes, and moreso, 480 BTC isn't much if you consider the fact that Saylor began buying BTC in August 2020 and in order to acquire 129,699 BTC, he would have had to buy, on average, 5640 BTC per month.

If he truly believed the near-future value of BTC will be greater than their average cost, I would actually expect him to be buying significantly more now to lower the cost average during the "dip" but that does not seem to be the case, which could mean they do not have the capital funds to bring down their average.

Edit: to further back up my point, here is a Forbes article from Feb 1. If Saylor's numbers are taken at face value, he has only acquired an additional 4648 BTC in the last 5 months and his cost average has increased since this article was published.

Billionaire Saylor's MicroStrategy Bought $25 Million In Bitcoin During Last Month's $500 Billion Crypto Market Crash

Despite the SEC cracking down on how it's accounting for its massive crypto stash, the data analytics company helmed by staunch bitcoin bull Michael Saylor keeps buying more.

www.forbes.com

The company, which started buying cryptocurrency for its balance sheet in August 2020, says it now holds approximately 125,051 bitcoins, purchased for nearly $3.8 billion, or an average price of $30,200 per coin.

 

[Trevor Kuntz]

I know it is a winter for crypto. It is the dot.com for crypto and many lost hope. I've been wrong before.

But I return to the use cases as my guide for my own investment decisions.

Part of the reason we have this wild ride is the ease of borrowing. Leverage back in 1960s required long meetings with your bank, in the 2000s we saw the start of a shift. In 2020 borrowing technology has made it as easy as clicking "add to cart" on Amazon. That's part of the reason for the swings. It is also same reason that explains to me why this technological space has huge long term potential and life.

My brain hurts just thinking of all the applications of blockchain for the future, there are that many.

In short, crypto will be fine. There will be another rally. There will be another winter after that.

I don't really have doubts about the long-term future of crypto, but I definitely have doubts about the short-term health of many whales, the exchanges, etc. As someone who got burned in the Mt Gox affair, I've become extremely wary of the "infrastructure" built around crypto.

 

[Antifragile]

If he truly believed the near-future value of BTC will be greater than their average cost, I would actually expect him to be buying significantly more now

Theoretically, I agree. In practice, the question I have is pragmatic access to capital to make such acquisitions. When the markets are booming, raising capital is reasonably easy. But at times of interest rate hikes, declining equities and overall winter/dot.com for all crypto - even if I want to raise fiat and buy BTC, I will struggle to find investors. Just a thought...

 

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[doster.zach]

not gonna lie, wasn't till 5 years ago I thought when everyone was talking about how terrible fiat currency was, I didn't know they were talking about government backed dollars...

 

[doster.zach]

https://twitter.com/i/web/status/1542072532857143297

View: https://twitter.com/BTC_Archive/status/1542072532857143297

 

[doster.zach]

If you bought BTC/ETH at (60,000/4,000) and you're not buying now...

 

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[Matt Sun]

Any thoughts on the following argument: "Bitcoin is not scarce since it can be divided into infinite peaces."

 

[Antifragile]

Any thoughts on the following argument: "Bitcoin is not scarce since it can be divided into infinite peaces."

So can gold, land, real estate etc. I still want to own the whole house, not just a speck of dust off my uncleaned book shelves.

Happy I could help.

Moving on.

 

[GPM]

So can gold, land, real estate etc. I still want to own the whole house, not just a speck of dust off my uncleaned book shelves.

Happy I could help.

Moving on.

I will sell you the corner in one of my rooms. No, it does not come with a door, a window, or a closet! But hey, you get a piece of the house!

 

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[Timmy C]

Any thoughts on the following argument: "Bitcoin is not scarce since it can be divided into infinite peaces."

Bad argument

 

[KAIZOS]

Any thoughts on the following argument: "Bitcoin is not scarce since it can be divided into infinite peaces."

Have you not had math in primary school?

Edit: I feel like bitcoin is so disruptive people can't grasp it, and it makes them actually going retarded in trying to discredit it in order to save their own ego