GRHorn

Which hard currency? I wonder how easily then can attain it?

@FondrenRoadi’m not going to quote your longcat post, but you’re misrepresenting some things I stated. I said the people of these countries, not the governments, should adopt bitcoin as a savings vehicle. I stand by that. Their savings will be protected better than holding their own currency. Also you keep going back to people getting paid with bitcoin and buying things day to day with it. I’ve never said it was ready for that. If that happens it will be in the future when enough people have adopted it and volatility has smoothed. And yes, between now and then I expect it to appreciate vs the USD substantially. That is a given and one would be foolish not to take advantage of that. It’s a layup, but that’s not the sole reason I follow it or posted about it here. It’s a massive innovation. If I want to talk about how much money we’re all going to make on it I chat with my friends in the other forum. 😜

So would you advise them to hold everything in a currency experiencing 2000% or 16% inflation respectively?

I believe that a decentralized, non sovereign money has the potential to improve the station of people around the world. If people in Nigeria or Venezuela adopt Bitcoin and protect their savings it will improve their lives and perhaps eventually help hold some of these corrupt governments to account. As for your contention that these people just want dollars, there actually is a crypto use case that has exploded over the last year addressing that. Stablecoins like USDC and tether have exploded. I think over time you could see ecosystems where people in developing countries utilize stablecoins for day to day while holding savings more in bitcoin. I believe in bitcoin as a protector of wealth. If enough adoption occurs price should stabilize and its value as medium of exchange should improve. It’s clear we aren’t going to agree yet and thats ok. On another note a shift over the next several years should be emphasis on the power of the network. With the lightning network now people and companies can use bitcoin to send forex remittances instantly between fiat currencies. You can literally stream money around the globe. This is groundbreaking technology and some of the implications are obvious, but who knows what can evolve from it? As long as some electricity is on globally there will be nodes and miners somewhere maintaining the network and producing blocks.

“Mistakenly”

Just another example of Biden Administration bending over for China. Wait, should I have made that joke in CR?

It’s real, and it’s spectacular. Extended video. “Sooner, and safer” They’ve been working many months hand in hand with Microsoft to crack this unsolvable code around how to open schools. With their help they’ll be able to maybe open schools soon, over a year after Covid hit and one full school year after millions of kids already went back. And, they’ll manage to do it in the creepiest way possible. Again, thanks Microsoft Corporation.

Whatever everyone is comfortable with. $25 $50 $100?

Thanks Microsoft Corporation for keeping me safe I didn't want to get sick at school The real magic is in your daily barcode pass barf

I always thought OB had the oldest posters. I typically ask my dad what the boomers on OB are saying.

yep he probably read that story, hit up Caden Sterns on social media, and decided it was time to trim things down

Hits just the right creepy tone

WTF are you even talking about? I follow this shit closely. Of course, I know about the energy consumption. You don't have to go in depth explaining the value proposition to people in Latin America or Africa. They've experienced high inflation and asset forfeiture first hand. The first world attitude is saying, oh there's no use for something like this. Our system works perfectly. Yes, it will be a while before mass amounts of people price in bitcoin, if that happens. Yes, it is an opt in system, which is one of its strengths. You say people can choose not to do it, but adoption by multiple metrics is steadily increasing. It's reaching critical mass because people want to use it and that will continue.

PM Texifornia

Maybe he sees himself as the next Manny Acho?

😭

Larger amounts of capital tied up in BTC means it takes bigger amounts to move the price around. Anyway, https://www.nytimes.com/2018/11/05/business/dealbook/swift-iran-sanctions.html https://money.cnn.com/2017/03/08/investing/north-korea-banks-swift-ban/index.html https://www.bloombergquint.com/global-economics/how-the-u-s-has-made-a-weapon-of-the-dollar Bitcoin would be useless in Mad Max world. I'm not predicting that as an outcome. I'm quoting the market size in dollars because that is how we measure things now. You keep getting hung up on that. The fact that you keep talking about how other coins have reproduced and improved upon BTC while BTC should go to zero tells me you're a disgruntled shitcoiner. The global market tells you otherwise. Your understanding of the topic seems to be very limited and superficial. I'm not here to pump it, at least that wasn't my initial intention. I guess it comes across as pumping if I debunk misconceptions. "People simply don't have to use bitcoin for anything and never will have to." I'd say that's a very western, 1st world attitude to have towards the technology. In any event, even if people don't have to, they may choose to utilize it. Again, because you don't understand or care for the value proposition of something doesn't mean it doesn't exist. The global market is telling you otherwise.

My Indian Hawthornes look a little bit better. More concerning are the ligustrums we have around the perimeter of the property. Took a while to grow to their current size. Most of them barely holding on. Pretty disappointing

THANK YOU. Let’s get back on track. Even if that track is arguing semantics over an obscure pass that I don’t even remember much about

What specifically makes you think BTC going to zero is an inevitability? MySpace never reached nearly the market size or dominance of BTC today. Large scale individual and institutional involvement in BTC is due in large part to 12 years of running reliably and demonstrating anti-fragility in the face of repeated attacks by belligerents and skeptics. These qualities are not easily reproduced at the scale that leads to a $1T network. The only one that is even close to the same stratosphere is Ethereum, but that is <20% of the size and is trying to achieve something different, and honestly less important geopolitically. By saying, “Eating gold’s lunch” I meant that BTC will vastly outperform gold in the coming years. Those goldbugs (like Peter Schiff) will wish they had bought BTC for inflation protection. It’s just superior to gold in almost every way.

Also, a heads up, just for shits I bought a small amount of the Spac GSAH. It’s the Goldman Spac. There’s been a lot of rumors online that they’re targeting crypto entities. I’ve seen eToro, Gemini, and BlockFi mentioned. It’s probably bullshit, but I didn’t want to see it pop after a deal goes through and miss out.

This is correct and there have been hundreds of cryptocurrencies created. There have also been some contentious hard forks created that sought to improve on some perceived faults of Bitcoin. The market determined that they were all trash. Bitcoin has a massive headstart. It is extremely unlikely, although not impossible, for Bitcoin to be unseated. Regarding your first point, yes the USD is essentially backed by the US military, so its use can be enforced. But I'm reminded of this good line, central banks can control the supply of money, but they can't control how people value it. These are two things I've never seen uttered by the same person. Bitcoiners and gold bugs are cousins I would say. Gold bugs are typically older and don't fully grasp the improvements Bitcoin has made over gold or that there is technological upside that is unknown at this point. There is strong chance that BTC eats gold's lunch over the next decade plus.

https://twitter.com/bitcoinagile/status/1366446744058363904?s=21

This from a note from Fidelity’s head of macro. https://institutional.fidelity.com/app/literature/item/9901337.html It continues to be a layup trade.