Official Cryptocurrency Thread: Skepticism to Speculation to FIGHT! FIGHT! FIGHT!

Discussion in 'The Mainboard' started by Nantucket, Jan 29, 2017.

  1. brolift

    brolift 2sweet
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    I’m not putting untreated wooden seashells underground in a house what the hell are you talking about just watch the video of billionaire and massive fund guy Chris Larsen using Dino tech.
     
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  2. user15000

    user15000 Well-Known Member

    Nah I’m good. Bought and sold xrp long ago during the 2017 hype. Had a bunch at .20 and .30 and sold in the 2s. I’d rather buy, gulp, cardano or speculate on about a million other things than tie any portion of wealth to xrp.
     
  3. brolift

    brolift 2sweet
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    Lmao gfy.

    I am not saying buy xrp, just that the xrpl does what lightning does before lightning white paper was even published. NFA DYOR.
     
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  4. user15000

    user15000 Well-Known Member

    I must’ve missed the part where xrpl operated as a layer 2 bitcoin protocol.
     
  5. user15000

    user15000 Well-Known Member

     
  6. Lyrtch

    Lyrtch My second favorite meat is hamburger
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    sick
     
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  7. user15000

    user15000 Well-Known Member

    Figured you could use some help with the data. Respect hard money and all…
     
  8. Lyrtch

    Lyrtch My second favorite meat is hamburger
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    can i get some M2 charts
     
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  9. user15000

    user15000 Well-Known Member

    You bet! Here’s a fun one.

     
  10. Lyrtch

    Lyrtch My second favorite meat is hamburger
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    thats the stuff
     
  11. user15000

    user15000 Well-Known Member

    How long will you keep ignoring that printing is driving all assets substantially higher, worsening the wealth gap, and that btc is outpacing real estate, sp500, and every other global asset class?
     
  12. Lyrtch

    Lyrtch My second favorite meat is hamburger
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    "printing" has nothing to do with our current inflation situation. but yes we should raise taxes on the wealthy to decrease economic inequality and increase redistributive policies. what do you think we should do?

    but also


     
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  13. Lyrtch

    Lyrtch My second favorite meat is hamburger
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    people get real twisted up when they don't realize they're the mark for the capital class dying to get workers back to desperation mode. its what austerity politics and the broader neoliberal movement is based around.
     
  14. user15000

    user15000 Well-Known Member

    Ah yes inflation is due to everything but central bank actions. This seems fitting:



    Good luck on taxing the ridiculous wealth that central bankers have funneled directly to asset owners. I’m sure they won’t find any way around those pesky tax laws.
     
  15. Lyrtch

    Lyrtch My second favorite meat is hamburger
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    theres very obvious reasons for enormous portions of the inflation measurements that has ZERO to do with the fed

    the global business sector seemed to think we were on a post great recession pathway, we weren't due to massive fiscal stimulus, they were wrong and unable to course correct so it's been a bumpy ride so this is still the best option!

    still missed what your solution is now and how we should have responded to the covid recession
     
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  16. Lyrtch

    Lyrtch My second favorite meat is hamburger
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    also enjoy the "you can't actually tax the wealthy" arguments from rich people

    great argument for why capitalism is inherently untenable!
     
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  17. user15000

    user15000 Well-Known Member

    The solution is a gradual transition to a btc standard.

    They could’ve cleaned out the system during the GFC and again during covid. But 401ks are a matter of national security and no one wants to be in charge while the untenable party stops. So they’ll print endlessly. It’s mathematically impossible to grow at a rate to satisfy the outstanding commitments. Greg Foss has done about a million podcasts explaining why that’s the case. Inflation is truly the only option short of a default.

    This isn’t some new theory. Paul Tudor Jones wrote a whole paper with this exact thesis like 1.5 years ago explaining that btc is the fastest horse. He’s not wrong.
     
  18. Tug

    Tug Well-Known Member
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    You’re going to be so pissed when we adopt the SHIB standard tomorrow
     
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  19. Lyrtch

    Lyrtch My second favorite meat is hamburger
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    ok so nonsense solutions similar to the return to the gold standard folks. good talk as usual.

    but i do understand why btc maxi's and its media ecosystem sell the conspiracy theory (that our path is untenable, runaway inflation!, money supply growth is bad!, etc) its all very old ideology just stapled into our current sphere.
     
  20. Lyrtch

    Lyrtch My second favorite meat is hamburger
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    ngl figuring out that crypto that i hadn't paid attention to for a long time was just really outdated and discredited ideology with a new veneer was a very dispiriting day
     
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  21. Tug

    Tug Well-Known Member
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    I said SHIB standard but I meant DOGE standard, sorry
     
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  22. Lyrtch

    Lyrtch My second favorite meat is hamburger
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    thought this was an interesting apples to apples as its being seen basically everywhere that's rev'ing back up in peer economies

     
  23. user15000

    user15000 Well-Known Member

    Lol at calling it nonsense and a conspiracy theory. Gold failed because it has certain shitty properties that don’t apply to btc (easily captured, not divisible, hard to move, etc. ). You constantly shit on Austrian economics while the truest embodiment of an Austrian economics asset grows at parabolic rates. So uhhh maybe you’re wrong.

    Growing out of current debt and entitlements truly is not possible. Inflation is the only solution. If you don’t think inflation is currently running away, then cool I guess.

    At the end of the day, you own btc because you should. I’d venture a guess that it’s outperformed the rest of your portfolio by 10x. So keep ignoring it at your own risk while allocators with billions of capital buy it to protect purchasing power.
     
  24. Lyrtch

    Lyrtch My second favorite meat is hamburger
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    yes your broad economic claims are conspiracies, its why shadowstats and other goldbug era websites are becoming popular again, to support said conspiracies for broader ideological goals that aren't seen in real economic data

    but also i've never disputed btc is a good speculative asset because of lunatics like you, the narrative is strong as seen by late night infomercials still shilling gold, thats the genius of btc.
     
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  25. Chumbolone

    Chumbolone Wigglin’ my toes on a mink rug…
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  26. Lyrtch

    Lyrtch My second favorite meat is hamburger
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    this is good
     
  27. user15000

    user15000 Well-Known Member

    What's the specific economic conspiracy? No one gives a shit about gold. BTC is totally demonitizing it on a global scale. Global debt to GDP is 400%. Inflation under any metric is high. Lol at "real economic data."

    The genius of BTC is that its the purest form of property on the planet. Like it or not, you're short btc and speculating against it with every other asset you own. So good luck with that. Didn't work so well for what I'll assume is the other 99% of your portfolio recently, and I'll venture a guess that the trend won't change any time soon.
     
  28. jorge

    jorge Founder of Post ITT if your team sucks
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    what do you mean for the 99% of my portfolio? I’m up nearly 1000% since June. Or was that directly to lyrtch
     
  29. user15000

    user15000 Well-Known Member

    Huh? I didn’t quote or direct that to you. It was a statement that implied btc is the base layer of measurement. It’s up 315% in the last year and 635% the last 2 years and 916% the last 3 years, etc. Those numbers for the SP are like 30/50/70.

    So many people take a look at their house and stocks and 401k and think they’re rich. 2 problems: they’re measuring against an ever-changing and increasing USD, and they aren’t remotely keeping pace with btc.

    The fundamental measuring stick for any financial advisor or fund manager should be whether what they’re doing outpaces btc on a risk adjusted basis.

    Oh and if your net worth is up 10x since June, congrats.
     
  30. user15000

    user15000 Well-Known Member

    ReAL EcOnOmIc DaTA. Things are fine. We totally aren’t living through the end of a ~80-year debt cycle.



     
  31. Whammy

    Whammy Donde es
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    If inflation dies down once supply chain issues get resolved and BTC falls out of the top 10 are you going to be ok
     
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  32. soulfly

    soulfly Well-Known Member
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    Had nooooo idea (but honestly should have) that BTC is libertarian viagra.
     
  33. user15000

    user15000 Well-Known Member

    Falls out of the top 10 of coin market cap? What odds you want to offer on that?

    It’s far more likely to keep doing what it’s been doing for the last decade. But sure I’ll be fine. It could go to zero, and I’ll still retire before 50. As it stands now, I could never work another day in my life.
     
  34. user15000

    user15000 Well-Known Member

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  35. Whammy

    Whammy Donde es
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    Not saying it will happen you just seem to be very committed to the ideology mayne. If cults find out their ideology was a sham, it breaks people. Good luck
     
  36. construxboy

    construxboy xenForo is the new TMB
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    So that's what, like 10 people?
     
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  37. Penguin The Duck

    Penguin The Duck Well-Known Member / #NFT Influencer
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    Learn us on Stacks please
     
  38. kennypowers

    kennypowers Big shit like a dinosaur did it
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    Can you make a bot or something that posts in here every time you buy and sell so that I can mirror you?
     
  39. brolift

    brolift 2sweet
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    Hes got thos beans
     
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  40. danny2430

    danny2430 Well-Known Member
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    I would honestly be down for a discord that we can keep up with calls on trades

    There is so much money to be made over the next 4/5 months
     
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  41. Chumbolone

    Chumbolone Wigglin’ my toes on a mink rug…
    Indiana HoosiersNotre Dame Fighting IrishChicago CubsIndianapolis Colts

  42. seanofthedead86

    seanofthedead86 Well-Known Member
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    I want to blindly follow you on this journey but I need more info.
     
  43. brolift

    brolift 2sweet
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    What’s yer take profit price target? $2.25?
     
  44. brolift

    brolift 2sweet
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    Buy the rumor sell the news.
     
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  45. Chumbolone

    Chumbolone Wigglin’ my toes on a mink rug…
    Indiana HoosiersNotre Dame Fighting IrishChicago CubsIndianapolis Colts

    Hedge fund friend made a case for TRIBE/FEI in April, right after the crash… trader friend supported thesis, I bought FEI (stable coin) at a discount ~.70’s and rode it back to peg, but now we turn our attention to Tribe - seems everyone is catching up to discounted book value that my friend saw in April.

    Defi trade idea. $fei protocol launch was a complete disaster. Error in code, it was way too big, and many people didn’t understand how it worked. Almost half the people who participated in launch have puked at a steep discount while the collateral deposited (eth) had mooned.

    As a result the protocol is up $500m mark to market right now. https://app.fei.money/analytics

    Rewards are about to triple for the fei tribe pool for a month. Should be something 200%+ APY. Current Tribe market cap is $300m and fully diluted is $1.3b. With a $500m cushion not a crazy price.

    Pretty bizarre situation but if they can figure out how to stabilize the coin and get people to use it— compared to a lot of other coins this seems cheap. Risky one tho.


    *They figured it out and FEI, TRIBE’s stable coin, regained peg. Treasury buybacks started a few days ago. Check out @mrjasonchoi, @statelayer, and this guy for some good info…



    Target price? It’s a long term hold for my aforementioned circle, $3 has been thrown around in group chat for taking profits, but hedge fund and trader friend are holding. FWIW all they’re really long term holding these days is BTC, ETH, SOL, TRIBE, and ATOM.
     
  46. user15000

    user15000 Well-Known Member

    I’m not wedded to btc being #1 or my life falls apart. I do think it has the largest addressable market and is the most likely to capture that market, so we’ll see if I’m right. I also think it’s by far the most institutional grade crypto asset.

    The sham comment doesn’t really fit. It’s open source software with no central leader or point of attack. I suppose some software bug could blow it all up. But I struggle to come up with anything happening where all of a sudden it’s a sham. Maybe Satoshi returns from the dead and does….idk.
     
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  47. danny2430

    danny2430 Well-Known Member
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    Just curious but did you ever get their thoughts on Atom? Wondering why it gets the preference over the various L1s out there besides the ones already being held
     
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  48. danny2430

    danny2430 Well-Known Member
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  49. jorge

    jorge Founder of Post ITT if your team sucks
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    like 75% of my ideas have come from TMBers
     
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  50. jorge

    jorge Founder of Post ITT if your team sucks
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    Not that it will be relevant to bitcoin for like 120 years, but I wonder what will happen when Proof of Work coins exhaust their supply. It will dramatically change the economics of mining, and in this regard bitcoin has a huge advantage to look at what the coins that exhaust before it will do.
     
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