Official Cryptocurrency Thread: Skepticism to Speculation

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

  1. user15000

    user15000 Well-Known Member

    Wait your argument is actually that the federal government is going to copy and run the btc software as fedcoin? Is that serious? Complete with miners and the distribution protocol? And us citizens will then buy fedcoin? That's one of the dumber things you've posted in here, to say nothing of the fact that the fed govt is not going to set a hard capped currency.

    I bought my btc on an exchange. Not sure what that has to do with anything. Nearly 18.5m btc already exist. If the fed wanted to buy up all the bitcoin, there's not a whole lot left for it to get. Your thought exercise is also impossible since future btc is distributed through mining rewards. That is not something the fed can simply "buy up," but don't let that get in the way of whatever point you're trying to make.

    And lol at overthrowing the planet and lambos. Nice strawman for something I've never mentioned or advocated for.

    If any government actor is in the position of trying to shut down internet service in an attempt to stop btc, it will already be too late.
     
  2. HuskerGuy99

    HuskerGuy99 Above Average Member

    Again you dodge. Address what Ray Dalio said first of all. Let's start there. Refute what he said piece by piece. And lay out your argument. Stop saying, "MACRO INVESTOR BOUGHT IT."

    Also, better investment in 2020: Bitcoin or shares of Kodak? Go.
     
  3. user15000

    user15000 Well-Known Member

    Here's my Ray Dalio counter:

    Not sure what the fraudulent Kodak event has to do with anything. Try to stay on topic.
     
  4. HuskerGuy99

    HuskerGuy99 Above Average Member

    It's a hypothetical. One that you did not answer. Of course a central bank would never copy the Bitcoin code, it's absolute stone age shite. But what is stopping them from doing so? Again, you dodge the question. Shill gonna shill.

    I have to ask, which miners and network are they competing with again? Who do you think owns the network? You do understand that the internet is not a magical thing that exists without government intervention? You do know who invented the internet, right? lol
     
  5. HuskerGuy99

    HuskerGuy99 Above Average Member

    Is the Kodak event fraudulent? Or is it:

    Your position is that the entire Kodak market is manipulated by ....???? And that all price action is fraudulent because reasons??? So when it goes up to $60 last week it's manipulation, but when it has a massive sell off to $30 that same week it's what exactly? And then it rebounds back above $40 and it's more manipulation i guess? Or there's maybe a simple answer. It's a market with supply and demand, and the asset is priced properly and does not have some unnamed shadow group of people controlling the price.

    Kodak shares best asset of 2020.
     
  6. user15000

    user15000 Well-Known Member

    There's nothing stopping anyone from copying an open source code. That is not some "gotcha." Here, I'll help you. If you wanted to make an actual argument about what the government could do, you'd say that governments will peg their currencies back to gold, thus creating a hard money standard and cutting into one of the main selling points of btc. I think it's highly unlikely, but it's at least an argument.
     
  7. user15000

    user15000 Well-Known Member

    Yes it is corrupt and fraudulent when a single stock has 30x normal trading volume the day before the govt awards them $765m from a $60B fund that by law is set aside for investment in foreign countries (not domestic camera companies to make chemicals).

    I didn't know you felt like engaging in totally ridiculous arguments. Of course there are single stocks that have performed better than btc this year. No one is arguing otherwise.
     
  8. HuskerGuy99

    HuskerGuy99 Above Average Member

    It's your argument. Kodak actually makes real, tangible things. You think digital beanie babies are worth $11,000.
     
  9. user15000

    user15000 Well-Known Member

    "But i can't touch btc." With the beanie babies comment, I think we can be done here. The market will determine which of us is right and whether btc is a long-term store of value. The difference is I'll be willing to accept if I'm wrong and the price goes to zero. Money lost, but a bet I was willing to make. If it continues to go up in price and maintains its track record as the best asset of the last decade, you'll keep shouting about shadow manipulation, ponzi schemes, tulips, and beanie babies.
     
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  10. dblplay1212

    dblplay1212 Well-Known Member
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    Right or wrong, the avg person is going to trust a coin created by the fed rather than some unknown mystery man that owns a giant chunk of the asset. The fact that you can't grasp that and think most think like you is the funny part.
     
  11. HuskerGuy99

    HuskerGuy99 Above Average Member

    I absolutely can accept (and will have no choice but to accept) if you are right. Again, I am not hoping for your investment to crash and burn. I think they can keep the ponzi going for quite a while, FWIW. I'll just stick to the scam that has a lot more players and liquidity (and real, tangible value).

    I am curious though, at what price will you sell? You do have a plan?
     
  12. user15000

    user15000 Well-Known Member

    It's. The. Same. System.

    I don't disagree with you on the average person's thoughts. 60m+ people voted for Trump, so I'm not in the business of predicting what most people will do. I've never said most will think like me. I've said it's bullish for the fed to create a fedcoin that introduces millions of people to digital currencies.
    I know you discredit everything written by anyone who owns or works in the btc space, but i'll link a rebuttal to your ponzi comment anyways: https://unchained-capital.com/blog/bitcoin-is-not-a-pyramid-scheme/

    I won't think of selling under $100k, but I could retire if it ever got there. I think it can approach the market cap of gold ($8-10T) over the next ~ 10 years. I treat it as a savings account that is highly liquid, if I ever need it, and that I expect to hold or grow in value long-term. I do what I can to dollar cost into it. So far I'm up about 50%.
     
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  13. HuskerGuy99

    HuskerGuy99 Above Average Member

    And what about inflation? Are you adjusting your take based on that?

    And please do not link me any articles from people that depend on crypto just to put food on their table. I do not want to read an article written by a guy trying to loan me money through cryptocurrency. Link me a paper written by academics, scholars, or people with no skin in the game. Just like I linked you the paper about Tether written by academics with no skin in the game (that you have yet to refute and gloss over with terms like "shadow manipulation").
     
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  14. dblplay1212

    dblplay1212 Well-Known Member
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    The iPhone introduced millions to smart phones. That didn't help Nokia, who owned the market prior.

    You can say its the same system and I won't argue. A central figure holds all the cards and can manipulate the market when they want to. But the vast majority are going to trust the fed to maintain value of their asset rather than a shadow man thay can drop the value 90% at any time he chooses. You may not, and that's understandable. But you should realize most don't think that way.
     
  15. HuskerGuy99

    HuskerGuy99 Above Average Member

    This guy is not refuting anything. I am not going to read all of that. As I skimmed down it appears he made his points at the top. Can you not refute those points he made at the top? He is stating those things as fact with no supporting proof. Come on. Then I read his profile:

    Robert Breedlove
    Freedom Maximalist. Writer: http://patreon.com/user?u=32843101 Fiat is falsehood, #Bitcoin is Honest Money — buy it here: swanbitcoin.com/Breedlove

    Apparently the CEO of Parallax Digital. What is Parallax Digital?

    Parallax Digital | Digital Asset Investments | Santa Monica
    www.parallaxdigital.io

    Parallax Digital is a professional services firm specializing in Digital Asset Investments and Digital Securities Consulting.

    So he's selling you stuff related to crypto, and you're just taking his word as fact, once again. You realize he refutes nothing? This is a common theme with everybody you link to. They state something as if it is incontrovertible fact, when it is not. This is how scammers work. Everything you link to just reinforces my stance. Where are the academics, user15000? Where are the neutral parties?

    I am still waiting for you to counter Dalio's arguments from the video I linked above. Can you only link to people selling crypto and crypto services as a response? Do YOU have a response?
     
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  16. dblplay1212

    dblplay1212 Well-Known Member
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    This back and forth reminds of asking a right winger to back up their stance with facts and they link you to Breitbart.
     
  17. user15000

    user15000 Well-Known Member

    Why would it be surprising that someone writing about btc is invested in btc? Your entire approach of discrediting any article written by anyone with a connection to btc is nonsense. Refute it on the logic or points made in the article, or admit that you can’t. Dismissing an author out of hand is a cop out.

    also there’s no point in me summarizing a counter argument for you when someone who I’ve read and who I think makes logical points in response to whatever surface level issue you raise has already addressed it in detail. You can read it or not. I don’t care. You asked for a response. I gave you one. The rest is on you. There’s zero reason for me to waste my own time explaining something to you. If you want to know why I think Dalio is wrong, read the article. Or don’t. I don’t care.
     
    #9867 user15000, Aug 2, 2020
    Last edited: Aug 2, 2020
  18. user15000

    user15000 Well-Known Member

    Yes because someone who has a connection to the btc space is automatically a Breitbart author. You are irredeemably stupid.
     
  19. user15000

    user15000 Well-Known Member

    And on the USD tether “study” that was published once and then walked back by its authors, it’s funny. Both companies have issued a response challenging the weak data supporting the conclusions. It’s ridiculous to think tether with like a $10B market cap drove the btc price multiple billions in a $300B+ market cap above that in 2017. And let’s assume it’s true. Why would someone manipulate the price to $20k to then stop?? Might as well keep going. Why not $30k? Why let it drop to $3k? Where’s the study showing that the entire run up to $12k is also manipulated? Bitfinex is alleged to have engaged in like $850m of fraud from what I know. Safe to say that wouldn’t impact a $300B market even assuming it’s true, which is questionable at best.

    The fact of the matter is that the last price cycle basically tracked every other price cycle in the space. 2017 price ran because everyone and their grandmother found out about btc in fall of 2017. To suggest that a single exchange was responsible for driving the price on literally every other exchange on earth is dumb. And if it did, the price is back at $11k+, sooooooo...
     
  20. dblplay1212

    dblplay1212 Well-Known Member
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    Sorry that you can't grasp the comparison. You mainline BTC fluff sites like a GOP'er does Fox News. You are to this thread what Lech was to the shit pit. Let that sink in.
     
  21. dblplay1212

    dblplay1212 Well-Known Member
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    Sell high, crash it, buy back in low. Rinse and repeat. Not rocket science.
     
  22. user15000

    user15000 Well-Known Member

    Surely they would’ve pumped it back up to $20k again and then back down to just do it repeatedly right?
     
  23. user15000

    user15000 Well-Known Member

    You add nothing to this thread and your comparison is dumb as fuck. You’re basically screaming “fake news” at anything written by anyone with a connection to btc. That makes you the Trump of this thread. Let that sink in.

    I could, and have, posted long investment thesis articles from traditional finance people investing in btc (PTJ, Lyn Alden, Raoul Pal, etc.). You and husker don’t like the conclusions, don’t remotely address the merits, and just shout “fake news” because they bought btc. Well no shit they did. Sorry for not having a peer reviewed article you two dimwits can read. Ask yourself what it is that you think you understand that PTJ doesn’t.
     
  24. dblplay1212

    dblplay1212 Well-Known Member
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    They'll let guys like you do that and then cash out again.
     
  25. dblplay1212

    dblplay1212 Well-Known Member
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    I don't read Breitbart. I don't watch Fox News. I dont read your biased news either. It's hilarious that you can't grasp that that's what you're doing.
     
  26. dblplay1212

    dblplay1212 Well-Known Member
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    "You question my biased sources. You bring nothing to this thread!"

    :facepalm:
     
  27. user15000

    user15000 Well-Known Member

    Can’t wait. One would think that such a profitable scheme and a party interested in pumping btc narratives maybe wouldn’t have let the price drop below $4k in March. Why not drive the price to ridiculous levels while everything crashed to set up a huge dichotomy between traditional markets and btc? I don’t suspect you have an answer to any of that.
     
  28. user15000

    user15000 Well-Known Member

    Let’s be honest. You don’t read much of anything and have never added anything of substance to this thread.
     
  29. dblplay1212

    dblplay1212 Well-Known Member
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    Go too low and it scares too many away.

    "Why didn't they drive it to $0?!?!?!? Durrrrrrr"
     
  30. dblplay1212

    dblplay1212 Well-Known Member
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    Someone is better off reading nothing than mainline extremely biased sources that back up what they want to be true.
     
  31. user15000

    user15000 Well-Known Member

    Reading comprehension not your strong suit either. I said why did “they” let it fall at all. Not why didn’t it fall to $0. This shadow organization shouldn’t have let it fall at all with their endless fake money. Should’ve pumped it to $20k in March during the liquidity crisis.
     
  32. user15000

    user15000 Well-Known Member

    Cute. Having never read any of it, at least we can both agree you have no idea whether any of it has any merit or logic. So move along.
     
  33. dblplay1212

    dblplay1212 Well-Known Member
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    You sarcastically say shadow organization but the guy that owns the most of the asset literally is an unknown.
     
  34. dblplay1212

    dblplay1212 Well-Known Member
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    You're a GOP'er mainlining Fox News. You just can't grasp it. I'll continue to point that out until you do.
     
  35. user15000

    user15000 Well-Known Member

    Consider your inane point made. No need for you to post in this thread again since that’s all you bring.
     
  36. dblplay1212

    dblplay1212 Well-Known Member
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    "Buy Bitcoin!"

    Consider your inane point made. No need for you to post in this thread again since that’s all you bring.
     
  37. user15000

    user15000 Well-Known Member

    Satoshi’s btc has never moved you supreme dumbass. The price manipulation point that husker is obsessed with has absolutely nothing to do with satoshi’s btc.
     
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  38. user15000

    user15000 Well-Known Member

    Nah and I’ll say this again for roughly the thousandth time: I do not give a single shit whether a single person on this board ever buys btc. It will succeed or fail on its own merit. Institutional investors could maybe move the price, not dbl from the internet.
     
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  39. dblplay1212

    dblplay1212 Well-Known Member
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    Never said it did. Btw who is Satoshi again?
     
  40. dblplay1212

    dblplay1212 Well-Known Member
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    You spam the thread with fluff pieces but don't care if people buy it. Got it.
     
  41. user15000

    user15000 Well-Known Member

    Wow man you got me here. This changes everything and the whole system fails since I can’t tell you the creator.

    Posting btc news and articles in the crypto thread is spam? That’s your position here?
     
  42. dblplay1212

    dblplay1212 Well-Known Member
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    You sarcastically said shadow organization about a group of people literally led by a shadow figure. Can you not see why I would laugh at that?
     
  43. dblplay1212

    dblplay1212 Well-Known Member
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    This is boring. Continue slurping up every pro-crypto outlet on the planet. Hope it works out for you.
     
  44. user15000

    user15000 Well-Known Member

  45. user15000

    user15000 Well-Known Member

  46. user15000

    user15000 Well-Known Member



    Earnings call quotes from a $1.2B software company with zero connection to crypto or investing generally. They’re moving dollars into btc.

    In addition, we will seek to invest up to another $250 million over the next 12 months in one or more alternative investments or assets which may include stocks, bonds, commodities such as gold, digital assets such as Bitcoin, or other asset types.

    As Jerome Powell said, we're not thinking about raising interest rates and we're not even thinking about thinking about raising interest rates. And not being the case, if you're -- if you have large dollar values and you're hoping for any kind of return on them, that's faded. Gold, silver, and bitcoin are showing strength.

    So while it's potentially dilutive for us to carry that capital in dollars, that doesn't mean that we don't need the capital. Hence, if we look at assets, gold, silver, bitcoin, and equities have all been accreting as the dollar has been weakening.
     
    #9897 user15000, Aug 5, 2020
    Last edited: Aug 5, 2020
  47. user15000

    user15000 Well-Known Member

    And then there's this sideshow (I don't like him at all, but we'll see where it goes)





     
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  48. HuskerGuy99

    HuskerGuy99 Above Average Member

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  49. Harrison Beck

    Harrison Beck Hi, I'm Harrison Beck
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