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

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

  1. Arrec Bardwin

    Arrec Bardwin He ain’t me, he can’t be me
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  2. Harrison Beck

    Harrison Beck Rut Roh maximalist
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    Saylor is going total degen here don’t get me wrong but if we’re talking a timeframe of 2027 or 2028 when is the last time someone lost money with a long term view on btc?
     
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  3. Arrec Bardwin

    Arrec Bardwin He ain’t me, he can’t be me
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    I think the bet he is making is smart, but outsized. He's drawn a lot of attention and there will be people actively looking to take that move down and profit from it.
     
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  4. Harrison Beck

    Harrison Beck Rut Roh maximalist
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    Different games being played on different time horizons. As long as it’s 27-28 he wins
     
  5. user15000

    user15000 Well-Known Member

    Color me surprised if there’s a single person in this thread who actually understands the structure of the various instruments that he’s using, when they’re due, what projections his company has for revenue moving forward, and what their actual “risk” is when the instruments are due.

    I’m not an expert on that and haven’t read or listened to something on it. I’m reasonably certain though that if btc drops to $20k tomorrow, it doesn’t mean shit to what he’s done.
     
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  6. Harrison Beck

    Harrison Beck Rut Roh maximalist
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    Ya I have no idea how the board is structured or who could actually step in and force him to sell some But if the timeline of 27-28 is accurate I’d feel pretty comfortable it will be higher in 7 years. The insolvent at 18k seems silly. Generally speaking the hero worship in bitcoin never really never works out but we’re kind of in uncharted waters here with a guy betting the whole farm and doubling down every chance he gets.
     
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  7. user15000

    user15000 Well-Known Member

    His convertible offering was on like a 5+ year time horizon too. So maybe Whammy should chill with the random Twitter people acting like they’ll be bankrupt tomorrow, or explain why that’s the case.

    For the board, he controls it iirc.
     
  8. Tug

    Tug Well-Known Member
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    My issue here is more the speculation that Saylor is doing this because Elon is going to save the world rather than the more logical explanation that Saylor is going degen.

    apologies if that wasn’t clear
     
  9. Harrison Beck

    Harrison Beck Rut Roh maximalist
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    Insert ETF rant.
     
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  10. user15000

    user15000 Well-Known Member

    New pod with Laura seeking narratives for price while Willy/Rafael refuse and give their thoughts on on-chain metrics.

     
    #16410 user15000, Jun 8, 2021
    Last edited: Jun 9, 2021
  11. user15000

    user15000 Well-Known Member

    I wouldn’t say we’re in uncharted waters. The Winklevoss twins own like twice as much as Saylor. They didn’t lever up to do it, but they also don’t run a public company that is cash flow positive. They’ve also been very public figures in the space for years.

    When/if Saylor missteps, the space will kill him. He got plenty of shit for the miner council announcement and that was a pretty inconsequential event imo.
     
  12. IV

    IV Freedom is the right of all sentient beings
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    Alright how many paper mills did this dumbass buy?
     
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  13. IV

    IV Freedom is the right of all sentient beings
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    Was googling around yesterday, Panteras PT for BTC EOY is like 150k, but that was before March so idk just throwing that out there
     
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  14. user15000

    user15000 Well-Known Member

  15. user15000

    user15000 Well-Known Member

    El Salvador’s president’s brother just finished a Twitter spaces with Pomp, Nic Carter, Balaji, etc. Columbia’s advisor to the President is now discussing with the same group. This is a wild timeline.

    They’re voting on and passing the bill tonight as the president’s brother reports live from Congress lol.
     
    #16417 user15000, Jun 8, 2021
    Last edited: Jun 9, 2021
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  16. user15000

    user15000 Well-Known Member

    Dbl is Peter Schiff.

     
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  17. user15000

    user15000 Well-Known Member

  18. Chumbolone

    Chumbolone Well-Known Member
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    I mean it hurts, but it’s funny.
     
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  19. Chumbolone

    Chumbolone Well-Known Member
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    That turnaround time. Sheesh
     
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  20. user15000

    user15000 Well-Known Member

  21. Whammy

    Whammy Look kids, Parliament!
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  22. Whammy

    Whammy Look kids, Parliament!
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    Crypto on fire right now, congrats user15000 Im sure El Salvador has to feel like massive validation. It is undeniably huge, next 10 years will be wild
     
  23. Arrec Bardwin

    Arrec Bardwin He ain’t me, he can’t be me
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    El Salvador was big. I think the other countries that are now looking to follow suit is wayyyyy bigger. El Salvador might be an inflection point in mass adoption for sure.
     
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  24. Whammy

    Whammy Look kids, Parliament!
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    100 percent.

    If Brazil were to do the same thing, holy shit. Big GDP, 200 million + citizens, as big as the US by landmass. About to start rotating back to BTC
     
  25. southside

    southside Well-Known Member
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    It had to be that way though. Highest risk profile takes the first stab. Same as the first funds who went in.
     
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  26. Arrec Bardwin

    Arrec Bardwin He ain’t me, he can’t be me
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    Oh yeah makes perfect sense.
     
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  27. jorge

    jorge Founder of Post ITT if your team sucks
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    Can't wait for the first FUD tying BTC to MS13
     
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  28. Arrec Bardwin

    Arrec Bardwin He ain’t me, he can’t be me
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    They're gonna need some of that good DeFi to park their BTC.
     
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  29. Menelaus

    Menelaus The Red-Haired King
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    Fuck it bought some BTC
     
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  30. Penguin The Duck

    Penguin The Duck Well-Known Member
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    Fuck it bought a cat in a HODL sweater and made it my avatar
     
  31. PSU12

    PSU12 The Grand Experiment
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    This thread is an enjoyable ride
     
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  32. Arrec Bardwin

    Arrec Bardwin He ain’t me, he can’t be me
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    I’m really tempted to make this my avatar to prove a point.
     
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  33. Penguin The Duck

    Penguin The Duck Well-Known Member
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    Excuse me that will cost you 1 ETH + gas on OpenSea
     
  34. user15000

    user15000 Well-Known Member

    Thanks....don't really need the congrats though. It's honestly just surreal. This news came out Saturday, the bill gets passed Tuesday night, the bill is more aggressive than anyone in btc could imagine, tons of LatAm politicians are doing laser eyes (I know) and talking about btc on Twitter, and the President of El Salvador joins a Twitter Spaces as the bill is being passed for an hour+ to talk candidly to 20,000+ people while Mark Cuban, Jack Dorsey, etc. all listen in. It's wild, and I'm really just fascinated to watch how it plays out.
     
  35. Whammy

    Whammy Look kids, Parliament!
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    Given the homicide rate in El Salvador, not moving there with my future crypto riches.

    But if Brazil starts offering citizenship, I’d buy a condo on Ipanema beach in Rio like tomorrow
     
    #16438 Whammy, Jun 9, 2021
    Last edited: Jun 9, 2021
  36. user15000

    user15000 Well-Known Member

    I don't pretend to be a DeFi expert, but I did listen to this a few days ago. Why won't DeFi occur on btc? Legit curious to hear thoughts on this interview.

     
  37. Arrec Bardwin

    Arrec Bardwin He ain’t me, he can’t be me
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    I didn't say it couldn't :idk:

    Its not built out at this point though, and transaction volume would be a worry to build everything on BTC network alone.
     
  38. user15000

    user15000 Well-Known Member

    Ya I wasn’t trying to straw man you. Just curious about defi generally on btc. My understanding is that it would all operate on layer 2s like lightning, sovryn, etc. Either way, the stats around the sovryn growth seem impressive.
     
  39. Arrec Bardwin

    Arrec Bardwin He ain’t me, he can’t be me
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    Yeah I think BTC layer 2s, ETH, sidechains all will be needed if this thing accelerates this year. Plenty to go around with the options currently available.
     
  40. Arrec Bardwin

    Arrec Bardwin He ain’t me, he can’t be me
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    Also custodial solutions to scale are probably going to be the most prevalent imo.
     
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  41. user15000

    user15000 Well-Known Member

    This kid is single handedly changing the world



     
    #16444 user15000, Jun 9, 2021
    Last edited: Jun 9, 2021
  42. Chumbolone

    Chumbolone Well-Known Member
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    If you paid an ETH for that you’re a fucking idiot.
     
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  43. Penguin The Duck

    Penguin The Duck Well-Known Member
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    I didn't.

    But coming out of the bat saying this, when you don't know what exactly is behind the NFT, is pretty ignorant. There are 3 fucking idiots just in the last hour who have done so.

    download (9).png
     
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  44. jorge

    jorge Founder of Post ITT if your team sucks
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    Honest question - if a country makes Bitcoin legal tender, then suffers an economic crisis - how do they get out of it? If they can't devalue their currency, then how do they speed recovery? It sounds like it would be Greece 2.0.
     
  45. user15000

    user15000 Well-Known Member

    El Salvador is already in this situation. They’re on US dollars, which they don’t control.
     
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  46. Chumbolone

    Chumbolone Well-Known Member
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    I know it’s essentially a copy pasta of punks > apes > camels > cats… if you don’t see these iterations as a fad money grab for the creators idk what to tell you. I’m not anti NFT, I think some of the art is cool and the idea relative to ownership is pretty novel. It’s the Pepsi Rolex for the perpetually online, however you’re likely buying a limited edition Folex.
     
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  47. jorge

    jorge Founder of Post ITT if your team sucks
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    Yeah in this case - but moving forward I'd like to know. I realize this wasn't a unique situation to Greece. It's happened to a lot of places that chose IMF investment over protectionism.