Official Cryptocurrency Thread: Skepticism to Speculation

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

  1. HuskerGuy99

    HuskerGuy99 Above Average Member

    Literally nothing refuted nor successfully added to your argument. Pure conjecture posted as if it were fact, yet again. Shilling 101.
     
  2. momux

    momux AFAM Scholar
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    Bro do you know who ray falio is?
     
  3. LeVar Burton

    LeVar Burton Knee deep in a dynasty, ROLL TIDE!
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    BTC so hot right now...BTC
     
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  4. user15000

    user15000 Well-Known Member

  5. HuskerGuy99

    HuskerGuy99 Above Average Member



    There it is again. The global elite basically telling you: No, not Bitcoin. Bitcoin = ancient technology. Too slow. Uses too much energy. Climate is a consideration as we move forward. The evolution of BLOCKCHAIN TECHNOLOGY.
     
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  6. HuskerGuy99

    HuskerGuy99 Above Average Member



    And again from today.
     
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  7. HuskerGuy99

    HuskerGuy99 Above Average Member

    What part of that do they discuss Saylor being charged with fraud by the SEC?
     
  8. user15000

    user15000 Well-Known Member

    Probably after he talks about how he's a billionaire.
     
  9. user15000

    user15000 Well-Known Member

    What do Paul Tudor Jones, Stan Druckenmiller, Bill Miller and this guy know that you don't?

     
  10. HuskerGuy99

    HuskerGuy99 Above Average Member

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  11. HuskerGuy99

    HuskerGuy99 Above Average Member

    "Michael J. Saylor, the chairman of MicroStrategy, a software company whose share price soared and then collapsed after the company was forced to restate its books and erase all the profits it had reported, was accused of fraud yesterday by the Securities and Exchange Commission."

    Wow, isn't that something? Imagine what would happen if the unregulated exchanges that set the price of crypto had to "restate" their books.



    Wow, Huobi and OKEX? Didn't we go over those two exchanges in the last couple pages of this thread? Are withdrawals on OKEX still frozen?? And Binance is the third exchange listed? Any interesting flows between Huobi and Binance in the last 30 days???
     
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  12. user15000

    user15000 Well-Known Member

  13. HuskerGuy99

    HuskerGuy99 Above Average Member

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  14. Harrison Beck

    Harrison Beck Hi, I'm Harrison Beck
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    Blackberries and tulips boys. You’ve been warned
     
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  15. Harrison Beck

    Harrison Beck Hi, I'm Harrison Beck
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    I hope no one has an account with wells. Obviously a complete fraud organization
     
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  16. HuskerGuy99

    HuskerGuy99 Above Average Member

    Taking my money out of Wells Fargo, a regulated FDIC-insured banking institution, and putting it in an unregulated crypto exchange immediately.
     
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  17. user15000

    user15000 Well-Known Member

    Crypto exchanges aren't regulated?? Wow someone better arrest the people running Coinbase, Kraken, and Gemini.
     
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  18. user15000

    user15000 Well-Known Member

    Fidelity writing articles for the people who still don't get it. I think they went 6 for 6 on Husker talking points.

     
    #10323 user15000, Nov 13, 2020
    Last edited: Nov 13, 2020
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  19. Harrison Beck

    Harrison Beck Hi, I'm Harrison Beck
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    Lol. Just came to post this.
    Fidelity vs huskguy69
     
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  20. HuskerGuy99

    HuskerGuy99 Above Average Member

    Fidelity is the most credible institution you have mentioned, AND they kept the article short and to the point. So I actually read it in full and will now address their attempt to make money off of people that don't know any better. Bolded/italics will be from the article.

    Criticism #1: Bitcoin is too volatile to be a store of value.


    Response: Bitcoin’s volatility is a trade-off it makes for perfect supply inelasticity and an intervention-free market. However, with greater adoption of bitcoin and the development of derivatives and investment products, bitcoin’s volatility may continue to decrease, as it has historically.


    So it is or is not too volatile? Excerpts from this section:

    "bitcoin's volatility may continue to decrease"

    "The day-to-day volatility should come down over time"

    "The price of bitcoin should stabilize in tandem with net new participants having less of an ability to move the market"

    "Bitcoin’s volatility could also be explained by the fact that bitcoin has an intervention resistant market" -- Is it intervention-resistant if investment bankers and venture capitalists seized control of the codebase a few years ago? No mention of Tether?

    Well thanks for clearing that criticism up. Their entire response is based on a hope that things will go well and according to their plan. Great start to this article.

    HuskGuy69 1
    Fidelity Asset Manager 0

    Criticism #2: Bitcoin has failed as a means of payment.


    Response: Bitcoin makes deliberate trade-offs, such as limited and expensive capacity, to offer core properties such as decentralization and immutability. Given its high settlement assurances, Bitcoin optimizes its limited capacity for settling transactions that aren’t well served by traditional rails.


    Oh. So it started as a means of payment, or "the best money ever" according to some lol. Now the fact that it is slow and takes a ton of energy to use is a trade-off. A trade-off for what? Decentralization and immutability? Wait, don't other cryptos have that? Fidelity wrote this article? Were they hoping user15000s and Harrison Becks were the only type of people that were going to read it?

    HuskGuy69 2
    Fidelity Asset Manager 0

    Criticism #3: Bitcoin is wasteful.


    Response: A substantial portion of bitcoin mining is powered by renewable energy or energy that would otherwise be wasted. Additionally the energy the Bitcoin network does consume is a valid and important use of resources.


    "However, it is undeniable that bitcoin mining does consume energy. Thus, the question becomes, is it a worthwhile use of energy to secure the Bitcoin network and process transactions? Certainly, the answer will differ based on the person answering the question. Those who appreciate the importance of the first and only provably scarce, decentralized, censorship and seizure resistant digital asset that offers irreversible settlement would argue that it is."

    Incredible. Did Fidelity write this or a Twitter shill? Great refutation there. Wow could we get a source for that last line as well? Seizure resistant, eh? Didn't the DOJ just seize $1,000,000,000 worth of Bitcoin last week?

    https://www.cell.com/joule/fulltext/S2542-4351(19)30255-7

    HuskGuy69 3
    Fidelity Asset Manager 0

    Criticism #4: Bitcoin is used for illicit activity.


    Response: Bitcoin, like cash or the internet, is neutral and has properties that may be valuable to good actors and bad actors. However, as a share of total transactions, Bitcoin transactions connected to illicit activity are very low.


    Won't spend much on this as it is pretty well-known that money is being laundered using Bitcoin and other crypto. We will see what happens in the crypto space when this use case is hammered out. Last few pages of this thread are relevant for this one.

    Criticism #5: Bitcoin is not backed by anything.


    Response: Bitcoin is not backed by cash flows, industrial utility, or decree. It is backed by code and the consensus that exists among its key stakeholders.


    Oh. Sweet it's backed by CODE and CONSENSUS THAT EXISTS AMONG ITS KEY STAKEHOLDERS. What an amazing refutation. I'm pretty sure video game money is also backed by code and consensus that exists among its key stakeholders. You balls deep in that World of Warcraft gold as well, user15000? You know what else is backed by the consensus that exists among its key stakeholders? Beanie babies. I feel pretty good relying on the first iteration of CODE for a nascent technology as well.

    HuskGuy69 4
    Fidelity Asset Manager 0

    Criticism #6: Bitcoin will be replaced by a competitor.


    Response: While Bitcoin’s open-source software may be forked, its community and network effects cannot. Bitcoin makes trade-offs for core properties that the market deems valuable.


    Oh. Well, let's just ignore the fact that a competitor does not necessarily have to be a Bitcoin fork and move on I suppose.

    So I can copy Bitcoin's open-source software line-by-line and get the exact same thing? And if I own Bitcoin and it forks, I also own the addresses on that blockchain as well? In theory we could fork Bitcoin ad infinitum and sell those coins as well as long as there was a consensus that existed among its key stakeholders? Well doesn't that mean there is potentially infinite amount of Bitcoin? By the way, how did MySpace's community and network effect work out? Yahoo's community and network effect? Could we get a chart of MySpace's followers vs. all other competitors in 2005? Yahoo searches vs. all other competitors in 1998? Those guys had a pretty big lead at one point, no? Fidelity are you there?

    HuskGuy69 5
    Fidelity Asset Manager 0

    Very sad that Fidelity has stooped to this level of deception in an attempt to garner investment money. They have been reading too many shill feeds on Twitter. The same techniques of misdirection all over this paper. Congratulations on linking yet another article full of horse manure, user15000.
     
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  21. HuskerGuy99

    HuskerGuy99 Above Average Member

    Blowout for the good guys.
     
  22. HuskerGuy99

    HuskerGuy99 Above Average Member

    Another academic with credentials weighs in:



    "Nouriel Roubini is a Professor of Economics at New York University’s Stern School of Business. He is also CEO of Roubini Macro Associates, LLC, a global macroeconomic consultancy firm in New York, as well as Co-Founder of Rosa & Roubini Associates based out of London. At a 2006 address to the International Monetary Fund, Roubini warned of the impending recession due to the credit and housing market bubble. His predictions of these upside-down balance sheets became a reality in 2008, with the bubble bursting and reverberating around the world into a global financial crisis – a recession we’re only recently rebounding from after a decade climb."
     
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  23. user15000

    user15000 Well-Known Member

  24. HuskerGuy99

    HuskerGuy99 Above Average Member



    "These hypothetical exercises are intended to demonstrate potential outcomes & are not recommendations for investing in bitcoin."

    -Fidelity Digital Assets

    ouch!

    HuskGuy 1 MILLION BAJILLION
    Harrison Becks 0

    HuSkGuY69 heading to the playoffs!
     
  25. Harrison Beck

    Harrison Beck Hi, I'm Harrison Beck
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  26. user15000

    user15000 Well-Known Member

  27. dblplay1212

    dblplay1212 Well-Known Member
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    and Harrison Beck like this.
  28. dblplay1212

    dblplay1212 Well-Known Member
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  29. user15000

    user15000 Well-Known Member

    New Jeeps are bullish for btc :)
     
  30. dblplay1212

    dblplay1212 Well-Known Member
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    A V8 Wrangler makes my dick hard.
     
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  31. user15000

    user15000 Well-Known Member

    Same but for $17k
     
  32. HuskerInMiami

    HuskerInMiami Well-Known Member
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    Miami DolphinsNebraska Cornhuskers

  33. Harrison Beck

    Harrison Beck Hi, I'm Harrison Beck
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    How do we know you aren’t huskguy?
     
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  34. user15000

    user15000 Well-Known Member

    Lol at that dude showing proof about anything.
     
  35. user15000

    user15000 Well-Known Member

    The world's first $315B beanie babie

     
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  36. user15000

    user15000 Well-Known Member

    Start measuring the stock market in btc (or gold for that matter). Makes the charts look awfully funny

     
  37. user15000

    user15000 Well-Known Member

  38. user15000

    user15000 Well-Known Member

  39. Harrison Beck

    Harrison Beck Hi, I'm Harrison Beck
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    SCAAaaaaaaaaam, Sellll!!!!!
     
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  40. Harrison Beck

    Harrison Beck Hi, I'm Harrison Beck
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    The greatest part about all this, no one even cares yet. Retail hasn't even thought about showing up yet. 2021 will be fun.
     
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  41. user15000

    user15000 Well-Known Member

    Mr. selling at $15k has been noticeably quiet. Still waiting for all the smart guys to start shorting it.
    And yes. Quietest run ever. This just seems like steady institutional buying. The madness hasn’t even started yet.
     
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  42. Harrison Beck

    Harrison Beck Hi, I'm Harrison Beck
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    Blackberries tho