Separate names with a comma.
Discussion in 'The Mainboard' started by Nantucket, Jan 29, 2017.
Rest in power BTC
Here we go
If It gets much lower I’ll probably buy back in.
started buying when i woke up
I’m not a trader, but the guy who publicly said they think it’s worth $400k might have some incentive to try to push it lower to buy more.
I’d be buying if I had any cash. Nothing has fundamentally changed about the underlying asset, and it’s “crashed” to 10% above the 30k it was at a week ago. Fun times.
Yes, nothing has changed about the underlying asset. It is still virtual ones and zeroes -- literal database entries in the ether.
Your first statement is funny. Why not, "the guy who publicly said they think it's worth $400k might have some incentive to say that after accumulating a huge position to dump on retail and other suckers?"
Are you against all crypto assets, or just Bitcoin? Would you say to not throw any money at any of it, or just not Bitcoin? I am genuinely asking this question and not arguing for or against anything.
user15000 is a bitcoin maximalist...thinks other coins are not worth much and Bitcoin is going to the moon.
I'm not an expert and new to the scene but it seems like ETH has just as much of a following (or getting there) and seems to be a little more flexible in terms of what you can do with it.
Saw an interesting video from Paul Tudor Jones where he thinks the future of crypto is "Scarce Crypto" i.e. gold-like store of value crypto and there will be "Industrial Crypto" i.e. used for more transactional and infrastructure type functions. I see Bitcoin as the former and Ethereum or a non-crooked XRP as the latter. I'm investing in both, but there are passionate sides arguing the other side will be irrelevant in five years and their side is going to the moon on Twitter.
I'm investing in both, lightly, acknowledging I'm likely to be right on both or right on one and lose substantially on the other.
We'll see what happens
Also why I'm starting small....my "portfolio" is down 20% in like 36 hours lol, I literally bought at the top of this recent market. Won't matter if the long-term projections are right, but I'm not sweating it given the amounts involved
The one point I’d add is that I don’t think there is a world where btc fails and anything else succeeds. If btc fails, they all fail. If btc succeeds, I think they all trend down in comparison to btc and/or are much riskier to hold. But I recognize that there could be a world where btc succeeds as a store of value and some other use case crypto has success as well.
Very well said and great plan, IMO
You may very well be right and reserve the right to change my mind lol
gold is just a rock in the ground
yes but you can use that rock to build computer parts which are used manipulate ones and zeroes!
(1s and 0s are one of the reasons gold has value at all.)
I said it a few pages back, I think our man huskguy is a prepper with large quantities of canned beans in his basement because he doesn't believe in 1s and 0s even though 1s and 0s are currently at the foundation of our society
Ah coinbase, stay shitty
From the Bitcoin shill marketing playbook:
Educate yourself before throwing money at something. Then only throw money you are comfortable with losing at it. I have said before there is nothing wrong with speculating in the crypto market. Just understand the value of Bitcoin is derived from finding someone willing to pay more $ than you paid for it. Find someone to explain how a Bitcoin can rise in value and if you're convinced, have a ball.
A short story
the 1s and 0s are arranged in a particular order such that there is a finite amount that can be accessed and is thus scarce. That’s the entire value of Bitcoin as a system of stored value (like, say, a rock in the ground).
For the Ponzi crowd
Done and done. I learned in 2017-2018 it ain't for me.
Can't remember who recommended the Jason A Williams book, but it's good so far.
He kills the limo driver right?
A name like Preston Psyh combined with a smug Billy Zane-like face... just remarkable
Really is spectacular that Bitcoin attracts the chodiest of the chodes.
Pysh is really smart imo and has spent his entire career basically worshipping Buffett and value investing in traditional markets. He came to btc relatively late. His show The Investors Podcast has some great guests.
I'm a believer, but my biggest nagging doubt comes from the people who seem to be the most bought in. Fuck it, though. Let's make some money.
The adoption by at least some institutional money and the closure of Silk Road help alleviate these concerns a bit. That being said, there are definitely some degenerate drug and arms dealers who have made a ton of money on the appreciation of BTC.
didn't take long
I thought this had been posted in here but I tried searching and couldn't find it. Here are some of the dangers of using offline storage. This guy has $280m in BTC locked up in an offline wallet that he can't remember the password to.
That's why all my passwords are "Password."
Microstrategy trading at $605. It was at $140ish when the CEO announced their move to using btc as its treasury reserve asset. So in addition to the massive price appreciation in their btc holdings, the stock has also gone nuts.
My 401k appreciates their CEO.
That Citi downgrade on microstrategy looks aggressively stupid now
Supply and demand is really a wonderful concept
One of my company’s founders was also one of the co-founders of Microstrategy. He left during the the whole accounting debacle. I will say that as far as a data analytics company they are a bit behind the curve.
Sounds like pivoting to btc was pretty smart then
They’re a profitable company, but ya from what I know they weren’t super successful or experiencing crazy growth. Just chugging along making 30-50m per year in profit.
I think that Michael Saylor is brilliant and that his btc move required incredible foresight. We’ll see if it pays off long-term, but the market clearly likes it so far.
And Wall Street is full of crooks with insider trading. Why do you care?
Is Citi ever right?
lol - who said I did? the point I was trying to make is that there was a real perception 5+ years ago that the main holders of BTC were black market participants. given the US government dedicates significant resources against those type of individuals, there was the chance that a federal crackdown on BTC would limit adoption.
That didn't happen, and now we have significant adoption of institutional money, rendering the old concern obsolete.
lol it's amazing how emotional some of the posters in this thread are when you don't just mindlessly shill their holdings. From what little I know about the black market stuff, Bitcoin was supplanted by a superior blockchain technology a few years ago.
What's happening tomorrow, and what's the effect likely to be?