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

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

  1. Chumbolone

    Chumbolone Wigglin’ my toes on a mink rug…
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    :laugh:
     
  2. TAXTAXTAX

    TAXTAXTAX Well-Known Member
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    You keep bringing up Ray Dalio, so I looked and he recommends allocating 2% of net worth to crypto. I might be misunderstanding, but it seems like your allocation is way over 2%. Doesn't that actually mean that Ray Dalio thinks you should sell? That in Ray Dalio's opinion, you are way too concentrated into crypto? I mean, 2% seems like a very small amount, yet you cite him as a champion of crypto.

    upload_2022-6-18_14-29-24.png
     
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  3. JonathanCoachman

    JonathanCoachman The Coach
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    If Bitcoin disappeared tomorrow, not very many people's lives would change. If Google, Apple, or Amazon were to vanish, billions would freak out because they provide ACTUAL UTILITY. Investing in that is different than investing essentially in FOREX.
     
  4. Lyrtch

    Lyrtch My second favorite meat is hamburger
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    hes said outside of real estate he's 100% bitcoin or bitcoin exposed (MSTR in his 401k for example)
     
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  5. BudKilmer

    BudKilmer Well-Known Member
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    seems like a horrendous idea
     
  6. Gallant Knight

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    Down $400 in real money valuation in under an hour probably nothing HFBP
     
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  7. Redav

    Redav One big ocean
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    Well it sure seems like it right now
     
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  8. Gallant Knight

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    Don’t think anyone is questioning if he is a true believer
     
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  9. Gallant Knight

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    500
     
  10. TAXTAXTAX

    TAXTAXTAX Well-Known Member
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    Seems like all these hot shot investors don't agree with his investment "thesis" at all. So weird that he keeps citing these guys as authority for something completely different that they recommend.
     
  11. Handcuffed

    Handcuffed TMB OG
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    why would you ever want to invest in something so speculative that the asset losing 80% of its value is nbd because it happens so frequently?
     
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  12. Name P. Redacted

    Name P. Redacted I have no money and I'm also gay
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    I forget the original name but I believe the lore is that he posted a gal to the tinder thread and the gal found out.
     
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  13. Gallant Knight

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    Because it could go into the 100s of trillions HFBP
     
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  14. Andy Reocho

    Andy Reocho Please don't get lost in the sauce
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    Wasn’t he gatorfaniniowa?
     
  15. user15000

    user15000 Well-Known Member

    Druckenmiller, Jones, Dalio, etc. are far from young. If you're persuaded by the rationale and logic in Munger and Buffett's public comments on btc, then go for it. I think they have surface level uninformed takes. I tend to find that the people who have actually studied btc can give far more thoughtful and reasoned answers on how it could fail than Buffett and Munger. It's far from a certainty to succeed. You could point to regulation, transaction fees, security design post-2140, etc. and get little pushback from me. But relying on the "ponzi!" takes demonstrates a lack of understanding.

    There are probably 10+ articles addressing the ponzi point. It's nonsense to call open source computer software a ponzi. It promises nothing.
     
  16. JonathanCoachman

    JonathanCoachman The Coach
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    If he grew up in the 90's, is a Florida fan and is from Iowa, that essentially makes him a Manchester City supporter. The man likes to hop on a bandwagon it seems.
     
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  17. Name P. Redacted

    Name P. Redacted I have no money and I'm also gay
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    It’s a good store of value though
     
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  18. Name P. Redacted

    Name P. Redacted I have no money and I'm also gay
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    Sounds right
     
  19. Chumbolone

    Chumbolone Wigglin’ my toes on a mink rug…
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    Twitter brain shit.
     
  20. user15000

    user15000 Well-Known Member

    Stay with me here because I think you're maybe smart enough to figure it out: if Dalio is at 2%, Miller at ~50%, Druckenmiller has an allocation, PTJ has an allocation, etc., then maybe the point is that they see some utility in owning it as an asset. Contrast that to the "ponzi" "beanie babies" "tulips" crowd in here. What do the professional investors know that you don't?

    I'm comfortable with a higher allocation because I'm comfortable with that risk profile.

    Wait until you find out it's dropped like $10k in a day before. The fact you think it's noteworthy that btc could swing $500 down is funny.
    Straw man. Never said you or anyone else should be invested at any percentage amount. I like the contrast of professional money managers' approach to the asset versus the idiotic surface level posting itt.
    Nah. More like shrapnel related to something Chumbolone was dealing with.
     
    #20920 user15000, Jun 18, 2022
    Last edited: Jun 18, 2022
  21. Chumbolone

    Chumbolone Wigglin’ my toes on a mink rug…
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    Bc it sometimes it goes up 2000%?
     
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  22. JokerEyez5

    JokerEyez5 Well-Known Member
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    This thread is fascinating. For multiple reasons. Don’t stop, I’m almost there.

    This is some quality public theater. Like instant A+ for a college final thesis. To quote the cool kids, I’m here for it.

    Virtual handshake to User and Chumbo and PTD and Lyrtch and Gallant for not budging from their beliefs a fucking ounce.

    My only addition is some Lana del Ray lyrics:

    You name your babe Lilac Heaven
    After your iPhone 11
    "Crypto forever" screams your stupid boyfriend
    Fuck you, Kevin
     
  23. HowdyHorns

    HowdyHorns Well-Known Member
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    You keep latching on to ponzi and the investor aspect. I only mentioned it to refute your but smart successful people agree with me point. You use these people as why, I gave you equally if not more successful people that disagree. Basically it is a push on the point. Move on to defending hedge against inflation with an 80% drawback in an inflationary market. Then step over to store of value with the same premise. Follow it with better currency while telling me how many places bitcoin is accepted for transactions. We can move on to security and user error for the third act.
     
  24. Chumbolone

    Chumbolone Wigglin’ my toes on a mink rug…
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    True.
     
  25. Chumbolone

    Chumbolone Wigglin’ my toes on a mink rug…
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    Categorically false, I called the top when Gallant came in here seeking crypto investment advice.

    Once it reaches Gallant’s consciousness and he starts asking questions, time to take profits. Be it horses, mobile home parks, storage facilities, stocks, crypto, etc.
     
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  26. HowdyHorns

    HowdyHorns Well-Known Member
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    This sentiment is what built Las Vegas.
     
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  27. JokerEyez5

    JokerEyez5 Well-Known Member
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    Fair point - I think. Impossible to follow everything in this thread. I added him at the last second since he’s been vocal lately. And he’s given me a few sensible chuckles.
     
  28. Handcuffed

    Handcuffed TMB OG
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    it only goes up 2000% if you sell and realize those gains

    maybe I'm wrong but i get the impression that the biggest btc proponents don't sell
     
  29. user15000

    user15000 Well-Known Member

    It's not a "push" on the point. But at a minimum, you should wonder what all the successful money managers see in btc.

    On inflation hedge/store of value, time horizons matter. Go back to January 1, 2020 pre-pandemic. Pick an asset to buy: I'll let you have gold, SP500, nasdaq, bonds, etc. I'll buy btc. Which of us performed better in the next 2.5 years of inflation? Which of us preserved our value better? Over any long backward looking time frame, the answer is not remotely close. Does that mean it'll happen moving forward? I don't know, but I have an investment thesis and have allocated accordingly.

    I don't judge a 10+ year investment thesis on month(s) or 1-2 year timeframes.

    For better currency, the analysis isn't exactly rocket science. Maybe read this or run through any comparison between gold and btc on the traits that made gold money and a store of value historically: https://vijayboyapati.medium.com/the-bullish-case-for-bitcoin-6ecc8bdecc1

    Or don't read it....I don't care either way. "BTC isn't accepted at enough places for transactions" is the least interesting or persuasive point you could make against it. It takes a simple phone app for that to change over the next few years and your point is eliminated. But if you insist on that as a talking point, then here: https://www.pymnts.com/blockchain/b...s-strike-partners-with-ncr-shopify-blackhawk/

    "Strike last night announced deals that will bring crypto payments to NCR point-of-sale terminals, Shopify and prepaid payments provider Blackhawk Network.

    Unveiling a list of major retailers that will be able to accept bitcoin payments that included McDonald’s, Walmart, Starbucks, Best Buy, Home Depot, Staples, Wendy’s and Macys, among others, Mallers said they would be able to use the network to receive payments in cash or, if they choose, bitcoin."
     
    #20929 user15000, Jun 18, 2022
    Last edited: Jun 18, 2022
  30. Lyrtch

    Lyrtch My second favorite meat is hamburger
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    feel like there could be something here for why yall have this shared history across a few things
     
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  31. user15000

    user15000 Well-Known Member

    I will own that in hindsight the Tinder thread and my posting in it was not a good idea. That having anything to do with this is you reaching.
     
  32. Chumbolone

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

    March 18, 2020
    BTC $5,416

    April 15, 2021
    BTC $63,196

    November 12, 2021
    BTC $64,156

    December 2, 2021
    Solana $230

    June 18, 2022
    Solana $29


    Everyone, except you. :laugh:
    Post through it, buddy.

    Dead.
     
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  33. Lyrtch

    Lyrtch My second favorite meat is hamburger
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    i'm a social scientist

    some interesting parallels
     
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  34. Chumbolone

    Chumbolone Wigglin’ my toes on a mink rug…
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    Maybe, going through life rich and handsome makes it hard to relate to most people.

    And Vegas is awesome.
     
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  35. Lyrtch

    Lyrtch My second favorite meat is hamburger
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    you'd think it'd lead to some self esteem but alas
     
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  36. Chumbolone

    Chumbolone Wigglin’ my toes on a mink rug…
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    You’d think, all I get is arm chair diagnosis and cope from the managerial class.
     
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  37. user15000

    user15000 Well-Known Member

    Oh this is good and explains a lot. “How many bitcoins can be mined?” “I’m addicted to buying solana.” Lofuckingl
     
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  38. brolift

    brolift Well-Known Member
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    Lol, Lmaooo.
     
  39. HowdyHorns

    HowdyHorns Well-Known Member
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    You are right it’s not a push. I used arguably the most successful investor. You should wonder what the most successful money manager sees in btc.

    On inflation there was near zero, 1.4, inflation in 2020 and similar through the first half of 2021. When that changed the markets and crypto all did the same thing. They went down. This I know causes cognitive dissonance for crypto folks. Also you do not get to pick a specific crypto and then tell me to compare it to an index. So I will take Tesla. Another push? Bitcoin on 1/3/2020 was $7347 and Tesla was $88.60.

    Now we move on to comparing to gold, also not used as a currency today. Nice pivot. Then hey look we just signed a deal to use the currency as well a currency. Thirteen years after debut. By the way, able to accept and willing to accept are two different things. Many retailers years ago would accept bitcoin. They stopped when the volatility made it problematic. So this announcement means little as it has been done before and here we are still not using it as a currency. I understand why you find this point uninteresting. You find all points that don’t agree with your belief uninteresting.
     
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  40. Gallant Knight

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    Indeed
     
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  41. user15000

    user15000 Well-Known Member

    Markets Tuesday should be fun

     
  42. Fran Tarkenton

    Fran Tarkenton 6ft in Boots
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    is Dril behind this account?

     
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  43. Gallant Knight

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    I agree that would be a great purge
     
  44. Fran Tarkenton

    Fran Tarkenton 6ft in Boots
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    which is what makes the game all the more humorous when you get a couple of incel millenials that think, 14months on a Discord server makes me an Expert.

    America got fucked in the 90s when kids could intake CNBC and get rich quick. No lessons were learned.
     
  45. Redav

    Redav One big ocean
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    Rich guy brain right there
     
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  46. user15000

    user15000 Well-Known Member

    Btc is up $1600 in the last hour. Where’s your update?
     
  47. Gallant Knight

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    Btc is up 1600 in the last hour and now only down 6% over the last 24 hours
     
  48. Chumbolone

    Chumbolone Wigglin’ my toes on a mink rug…
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    [​IMG]
     
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  49. danny2430

    danny2430 Well-Known Member
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    Seems like a pretty run of the mill bill trap

    Tapped some liquidity/buy orders around $18k but heading back down
     
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