Bitcoin

XXVoid MainXX
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XXVoid MainXX 3/14/2021 4:10pm
3/14/2021 4:10pm
You can buy a Tesla with bitcoin. I won't but if you have bitcoin you can.
EZZA 95B 3/14/2021 5:11pm
3/14/2021 5:11pm
Kind of off topic but... $$$
Matt Fisher 3/14/2021 7:39pm
3/14/2021 7:39pm
JM485 wrote:
We’re still only at the beginning. If anyone is interested in researching more Real Vision has a great YouTube channel and podcast channel that do quite...
We’re still only at the beginning.

If anyone is interested in researching more Real Vision has a great YouTube channel and podcast channel that do quite a bit of crypto discussion. I’m very convinced that this is just the start, what we’re seeing before our eyes is the only way out of an obviously failing financial system that is headed toward a global reckoning. It’s not a coincidence that we have needed exponentially more global stimulus in markets and economies just to keep things afloat over the last few decades, what we’re seeing is the desperate attempt of financial institutions to combat the ever growing wave of deflationary technology. They’re all going to pump and pump and pump currencies to save the monetary system, but in the end it won’t matter, technology is going to take over.

Think about just what we have seen during Covid. All those simple manufacturing or service jobs (like toll booth operators, etc), ya those aren’t coming back, ever. And there’s more to follow. With the advances in AI happening at an exponential rate industries that we hold to be rock solid will be massively disrupted, and people are going to be displaced and permanently out of work in droves. We can choose to ignore what’s already happening and try to artificially pump economies via stimulus, low rates, and other feel good programs, but the only true way out that I see is bitcoin and other crypto. We finally have a way out of government controlled money and their fuckery, yet so many people still see it as “too risky”, to me putting my trust in a system that is guaranteed to fail is a lot riskier of a proposition than storing some value in a space that is only going to grow.
haydos25 wrote:
The thing i cant wrap my head around with Bitcoin is, people are buying it based on the theory. I'm yet to see when it becomes...
The thing i cant wrap my head around with Bitcoin is, people are buying it based on the theory. I'm yet to see when it becomes practical. And it's still getting measured against currency. Bitcoin only seems like a good investment to many because it can be traded for $60,000 actual dollars. But those are the exact dollars its trying to replace.

When are we going to buy houses, cars, load of bread at the local store with bitcoin? Is that something that is going to happen anytime soon?

It fascinates me, and i'm interested in it, i just cant wrap my head around how it works in practice
Technically speaking, since the dollar is a fiat currency it's not all that different than Bitcoin. Both are actually worth nothing unless enough people have faith in it's claimed value.
JM485
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JM485 3/14/2021 7:44pm
3/14/2021 7:44pm Edited Date/Time 3/14/2021 7:49pm
JM485 wrote:
We’re still only at the beginning. If anyone is interested in researching more Real Vision has a great YouTube channel and podcast channel that do quite...
We’re still only at the beginning.

If anyone is interested in researching more Real Vision has a great YouTube channel and podcast channel that do quite a bit of crypto discussion. I’m very convinced that this is just the start, what we’re seeing before our eyes is the only way out of an obviously failing financial system that is headed toward a global reckoning. It’s not a coincidence that we have needed exponentially more global stimulus in markets and economies just to keep things afloat over the last few decades, what we’re seeing is the desperate attempt of financial institutions to combat the ever growing wave of deflationary technology. They’re all going to pump and pump and pump currencies to save the monetary system, but in the end it won’t matter, technology is going to take over.

Think about just what we have seen during Covid. All those simple manufacturing or service jobs (like toll booth operators, etc), ya those aren’t coming back, ever. And there’s more to follow. With the advances in AI happening at an exponential rate industries that we hold to be rock solid will be massively disrupted, and people are going to be displaced and permanently out of work in droves. We can choose to ignore what’s already happening and try to artificially pump economies via stimulus, low rates, and other feel good programs, but the only true way out that I see is bitcoin and other crypto. We finally have a way out of government controlled money and their fuckery, yet so many people still see it as “too risky”, to me putting my trust in a system that is guaranteed to fail is a lot riskier of a proposition than storing some value in a space that is only going to grow.
haydos25 wrote:
The thing i cant wrap my head around with Bitcoin is, people are buying it based on the theory. I'm yet to see when it becomes...
The thing i cant wrap my head around with Bitcoin is, people are buying it based on the theory. I'm yet to see when it becomes practical. And it's still getting measured against currency. Bitcoin only seems like a good investment to many because it can be traded for $60,000 actual dollars. But those are the exact dollars its trying to replace.

When are we going to buy houses, cars, load of bread at the local store with bitcoin? Is that something that is going to happen anytime soon?

It fascinates me, and i'm interested in it, i just cant wrap my head around how it works in practice
That’s just it, we’re still in the infancy of a much larger movement. People are concerned about the energy necessary to complete transactions, but with computing power consistently increasing at an exponential rate and getting cheaper by the day this will soon not be an issue.

For now though, bitcoin itself is acting more as a store of value, similar to gold. In this respect it’s the perfectly scarce asset, we know exactly how many will be “minted” and there’s no surprises along the way. The supply of gold increases at 2% annually, more so as price/demand rises, so no matter what you’re seeing a debasement of roughly 2% per year. Real estate used to be another store of value, but with the advent of property tax (very significant in some states), this has become a potentially losing proposition over time as well. Large companies are beginning to concert their cash asset to bitcoin and this is just the start, he more the Fed fucks with our money the more clued in corporations will search for a way out.

There are also a lot of benefits for international users. The Swift system in place now for international transactions is great for the US, but every other country absolutely hates it. With bitcoin massive amount of money can be transferred across the globe instantaneously and for essentially no fee. Network effects will play a large roll here, as the more people around the world that begin to adopt the easier transactions will be.

I could go on and on about this forever but I’ll try to keep from putting everyone to sleep Laughing

Edit: Here is a video I found extremely helpful from a macro point of view for anyone interested

https://youtu.be/qL2LfVRl3J0
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haydos25
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haydos25 3/14/2021 9:17pm
3/14/2021 9:17pm
Matt Fisher wrote:
Technically speaking, since the dollar is a fiat currency it's not all that different than Bitcoin. Both are actually worth nothing unless enough people have faith...
Technically speaking, since the dollar is a fiat currency it's not all that different than Bitcoin. Both are actually worth nothing unless enough people have faith in it's claimed value.
Yeah, i guess that's kind of my point. The value in bitcoin at present is only there because it is measured against currency/can be converted back to currency. In fact it has to be converted back to currency if you wish to do anything with it aside from buying a Tesla. Purely because the system and faith is still in the dollar. If it wasn't then why measure bitcoin in terms of how many dollars its worth and why get excited by that figure? If your a bitcoin millionaire at present, then you're either only a millionaire on paper, or you've sold out of the platform to a certain degree and converted back to currency.

Scarcity is driving the price up, people have been told there will only be x number mined. So now people just have to have it or else you'll miss out and be left off the boat. I just personally need to see an end game strategy be within reach before im a believer. If i can head down to a car dealer and plop down half a bitcoin and drive a car out then it'll be real in my mind. I understand that by that stage i'll be priced out of the market, but if that stage never comes i'll be substantially better off then people coughing up 60k for a sonic the hedgehog computer coin.
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APLMAN99
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APLMAN99 3/14/2021 9:25pm
3/14/2021 9:25pm
Matt Fisher wrote:
Technically speaking, since the dollar is a fiat currency it's not all that different than Bitcoin. Both are actually worth nothing unless enough people have faith...
Technically speaking, since the dollar is a fiat currency it's not all that different than Bitcoin. Both are actually worth nothing unless enough people have faith in it's claimed value.
I think that the “legal tender” status makes them fairly different, though ......
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inthebadboycorner 6/19/2022 2:56am
6/19/2022 2:56am
Hi, As a first time investor, and therefore the first time looking at Cripto currency, would it be wise to keep a close eye on it nowdays .
Mybe wait for it to level out for a week or two and take the plunge and pop about 10k on Bitcoin and hope it grows expedentually again?
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JM485
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JM485 6/19/2022 5:05pm
6/19/2022 5:05pm
inthebadboycorner wrote:
Hi, As a first time investor, and therefore the first time looking at Cripto currency, would it be wise to keep a close eye on it...
Hi, As a first time investor, and therefore the first time looking at Cripto currency, would it be wise to keep a close eye on it nowdays .
Mybe wait for it to level out for a week or two and take the plunge and pop about 10k on Bitcoin and hope it grows expedentually again?
In my opinion that would depend entirely on your time horizon. If you’re willing to buy and hold for years I think it could be a great time to buy in, however we’re likely in for much more short term volatility and potential drawdowns. I’m currently sitting on the sidelines because I need the money I made for a house down payment if the market drops a bit, but if prices get down to the 10k level I’ll probably seriously consider jumping back in. I still believe in the technology 100%, but I need to have some capital available.

On a little bit more technical level, Bitcoin is trading like a high Beta risk asset at this point in the cycle. What that means is it will be extremely sensitive to changes in liquidity, and as it stands liquidity is being reduced at the fastest rate in history. We saw a massive run up during the most accommodative monetary policy in history, and now we’re seeing a dramatic draw down during the quickest tightening in history.

Like I said though, I’m still a big believer in the space and think this technology could be one of the greatest benefits ever to society by allowing us to opt out of the fiat system, but I think the next few months/year could be a very challenging market.
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inthebadboycorner 6/21/2022 4:20pm
6/21/2022 4:20pm
inthebadboycorner wrote:
Hi, As a first time investor, and therefore the first time looking at Cripto currency, would it be wise to keep a close eye on it...
Hi, As a first time investor, and therefore the first time looking at Cripto currency, would it be wise to keep a close eye on it nowdays .
Mybe wait for it to level out for a week or two and take the plunge and pop about 10k on Bitcoin and hope it grows expedentually again?
JM485 wrote:
In my opinion that would depend entirely on your time horizon. If you’re willing to buy and hold for years I think it could be a...
In my opinion that would depend entirely on your time horizon. If you’re willing to buy and hold for years I think it could be a great time to buy in, however we’re likely in for much more short term volatility and potential drawdowns. I’m currently sitting on the sidelines because I need the money I made for a house down payment if the market drops a bit, but if prices get down to the 10k level I’ll probably seriously consider jumping back in. I still believe in the technology 100%, but I need to have some capital available.

On a little bit more technical level, Bitcoin is trading like a high Beta risk asset at this point in the cycle. What that means is it will be extremely sensitive to changes in liquidity, and as it stands liquidity is being reduced at the fastest rate in history. We saw a massive run up during the most accommodative monetary policy in history, and now we’re seeing a dramatic draw down during the quickest tightening in history.

Like I said though, I’m still a big believer in the space and think this technology could be one of the greatest benefits ever to society by allowing us to opt out of the fiat system, but I think the next few months/year could be a very challenging market.
Thank you for the insight.
moto162
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moto162 6/22/2022 11:48am
6/22/2022 11:48am
I'm waiting for the recession to be officially announced on a few thing this included. It's a gamble in my mind it could cause bitcoin to crash more making it a less of a risk to lose everything if it goes south. But if it survives the recession it might regain 20-%30 of its peak value in short order. Especially depending on the next2 elections 22 and 24. If we get a pro American growth/ "energy independence" potus like trump well see a repeat of big growth out of it. Just my opinion.

While I understand crypto I don't belive in it for the long haul. 10+ years. I think eventually it will become a negative on society just like moving to an all digital currency. I also don't see country's allowing it to replace thier choice currency unless they go full digital which means they now control everything.
JM485
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JM485 6/22/2022 12:47pm
6/22/2022 12:47pm
moto162 wrote:
I'm waiting for the recession to be officially announced on a few thing this included. It's a gamble in my mind it could cause bitcoin to...
I'm waiting for the recession to be officially announced on a few thing this included. It's a gamble in my mind it could cause bitcoin to crash more making it a less of a risk to lose everything if it goes south. But if it survives the recession it might regain 20-%30 of its peak value in short order. Especially depending on the next2 elections 22 and 24. If we get a pro American growth/ "energy independence" potus like trump well see a repeat of big growth out of it. Just my opinion.

While I understand crypto I don't belive in it for the long haul. 10+ years. I think eventually it will become a negative on society just like moving to an all digital currency. I also don't see country's allowing it to replace thier choice currency unless they go full digital which means they now control everything.
That’s exactly the point, Bitcoin is your way out of the central bank digital currencies. CBDCs are the way of the future, they’ll be able to track your spending in real time, impose taxes or restrictions differently depending on how you spend your money, or perhaps most importantly freeze all of your assets if you were to take a stance that is contrary to what the government deems acceptable (sound familiar?). Bitcoin on the other hand is your escape, no single actor can control it and nobody can freeze your funds. Government is powerless to stop a completely decentralized asset, to do so they would have to overtake 51% of the network which at this stage in the game is impossible. They can try to make it illegal, but they can’t stop it. The network has withstood countless crisis up to this point and will continue to do so, because it’s rules based and not subject to human intervention and overreaction.
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kongols
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kongols 11/11/2022 10:14pm
11/11/2022 10:14pm
Bubble has burst, right?
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ns503
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ns503 11/12/2022 5:31am
11/12/2022 5:31am
One big one sure did.
jetbull721
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jetbull721 11/12/2022 8:52am
11/12/2022 8:52am
Alot of sketchy looking details coming out. Turns out the CEO of FTX is the son of Barbara Fried, the co-founder of the democrat donor group "Mind the Gap" and "Get out the Vote".


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jetbull721
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jetbull721 11/12/2022 8:57am
11/12/2022 8:57am
Essentialy, this piece of shit Sam was running a money laundering scheme to buy super bowl ads and fund the democratic party.

I bet he hopes all of that cash he was dishing out around DC bought him enough good graces to get a slap on the wrist.

Sucks if you got suckered in by some super bowl ads. Turns out Larry was right:








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jetbull721
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jetbull721 11/12/2022 9:13am
11/12/2022 9:13am
Looks like the WEF was pretty stoked on his operation



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philG
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philG 11/12/2022 9:27am
11/12/2022 9:27am
jetbull721 wrote:
Looks like the WEF was pretty stoked on his operation [img]https://p.vitalmx.com/photos/forums/2022/11/12/576446/s1200_ftx_wef.jpg[/img]
Looks like the WEF was pretty stoked on his operation



Oh dear.. how sad .
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Titan1
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Titan1 11/12/2022 9:46am
11/12/2022 9:46am
kongols wrote:
Bubble has burst, right?
After holding out on crypto for years…finally got talked into investing last October during the boom….fortunately I only put in $6k….it’s now down to $910 last I checked…I just stopped looking at it and have considered it a loss.
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plowboy
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plowboy 11/12/2022 11:54am
11/12/2022 11:54am
Honestly, I'm amazed this stuff had legs as long as it did. I've had a few friends that made some serious quick coin on it but they got out early.

I used to roll my eyes when the crypto guy was hawking his stuff during SX last year. All those retirement funds, school districts, and cities that went all in on this "magic" are sooo screwed.
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lumpy790
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lumpy790 11/12/2022 12:36pm
11/12/2022 12:36pm Edited Date/Time 11/12/2022 12:39pm
plowboy wrote:
Honestly, I'm amazed this stuff had legs as long as it did. I've had a few friends that made some serious quick coin on it but...
Honestly, I'm amazed this stuff had legs as long as it did. I've had a few friends that made some serious quick coin on it but they got out early.

I used to roll my eyes when the crypto guy was hawking his stuff during SX last year. All those retirement funds, school districts, and cities that went all in on this "magic" are sooo screwed.
Wait ….. that was this company or just another one of them?
plowboy
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plowboy 11/12/2022 12:48pm
11/12/2022 12:48pm
If you mean the SX sponsor...no, I don't believe so. If you mean where municipalities and schools and such put all their eggs (FTX)...then yes.
plowboy
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plowboy 11/12/2022 12:53pm
11/12/2022 12:53pm
In my experience... anything that offers huge quick ROI...is either illegal or risky as racing a TM 400 Cyclone...you're most likely gonna regret it.
JM485
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JM485 11/12/2022 2:35pm
11/12/2022 2:35pm
You guys are ridiculous, this isn’t the end of crypto. This was a centralized exchange run by a greedy power hungry asshole that went down due to shady investment practices, it would be the same as Robinhood going down tomorrow, that’s not going to end the stock market and this isn’t going to end crypto. There are plenty of other stable exchanges out there to trade on, these things happen in bear markets.
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yz133rider
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yz133rider 11/12/2022 3:22pm
11/12/2022 3:22pm
JM485 wrote:
You guys are ridiculous, this isn’t the end of crypto. This was a centralized exchange run by a greedy power hungry asshole that went down due...
You guys are ridiculous, this isn’t the end of crypto. This was a centralized exchange run by a greedy power hungry asshole that went down due to shady investment practices, it would be the same as Robinhood going down tomorrow, that’s not going to end the stock market and this isn’t going to end crypto. There are plenty of other stable exchanges out there to trade on, these things happen in bear markets.
I had the majority of my savings in this account until about a week before this email came in.

I’d be losing my shit if I still had my savings in there and was unable to withdraw it. I had it in there all year and just happened to take it out last week due to looking to buy a house shortly, figured I should have it in a closer at hand and not to be greedy.

It seemed like a relatively safe investment, and then something like this happens.


Sheeesh did the stars align for me and I got lucky to not lose it all or have it stuck in there for who knows how long.



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plowboy
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plowboy 11/12/2022 5:16pm
11/12/2022 5:16pm
JM485 wrote:
You guys are ridiculous, this isn’t the end of crypto. This was a centralized exchange run by a greedy power hungry asshole that went down due...
You guys are ridiculous, this isn’t the end of crypto. This was a centralized exchange run by a greedy power hungry asshole that went down due to shady investment practices, it would be the same as Robinhood going down tomorrow, that’s not going to end the stock market and this isn’t going to end crypto. There are plenty of other stable exchanges out there to trade on, these things happen in bear markets.
yz133rider wrote:
I had the majority of my savings in this account until about a week before this email came in. I’d be losing my shit if I...
I had the majority of my savings in this account until about a week before this email came in.

I’d be losing my shit if I still had my savings in there and was unable to withdraw it. I had it in there all year and just happened to take it out last week due to looking to buy a house shortly, figured I should have it in a closer at hand and not to be greedy.

It seemed like a relatively safe investment, and then something like this happens.


Sheeesh did the stars align for me and I got lucky to not lose it all or have it stuck in there for who knows how long.



You lucky bastard.
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yz133rider
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yz133rider 11/13/2022 5:03am
11/13/2022 5:03am
JM485 wrote:
You guys are ridiculous, this isn’t the end of crypto. This was a centralized exchange run by a greedy power hungry asshole that went down due...
You guys are ridiculous, this isn’t the end of crypto. This was a centralized exchange run by a greedy power hungry asshole that went down due to shady investment practices, it would be the same as Robinhood going down tomorrow, that’s not going to end the stock market and this isn’t going to end crypto. There are plenty of other stable exchanges out there to trade on, these things happen in bear markets.
yz133rider wrote:
I had the majority of my savings in this account until about a week before this email came in. I’d be losing my shit if I...
I had the majority of my savings in this account until about a week before this email came in.

I’d be losing my shit if I still had my savings in there and was unable to withdraw it. I had it in there all year and just happened to take it out last week due to looking to buy a house shortly, figured I should have it in a closer at hand and not to be greedy.

It seemed like a relatively safe investment, and then something like this happens.


Sheeesh did the stars align for me and I got lucky to not lose it all or have it stuck in there for who knows how long.



plowboy wrote:
You lucky bastard.
Seriously. The 7 deadly sins came up in conversation recently and in taking a look at them; I could see I suffer from 2 of them more than others. And have been since actively trying to work at them.

Greed and gluttony. If I had pushed the greed any further it would have truly become a big issue right now. Interesting how things work out.
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jetbull721
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jetbull721 11/13/2022 11:32am
11/13/2022 11:32am
The next domino to drop imo is the "stable" coin Tether. Once that thing goes it's going to be something to watch.

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