GRHorn

Tl;Dr

Stop quoting yourself. Being in the media has changed you.

I never said there was no virus spread. I said it was decreased relative to the adult population. It’s all a risk benefit analysis. The side that has had schools completely closed for over a year is demonstrably wrong. I guess I’ll stay shrieking

Your point is valid, but over time its volatility is decreasing and should continue to do so. As to your first point a digital, fast, cross border payments network is going to be built that makes the one we currently use and weaponize against other countries obsolete. I believe our country would be best served utilizing and building on the open source, permissionless network that is already available.

His name is Willy Woo. It's a paid newsletter. I follow it because he specializes in on chain analysis. From what he, and others, say from on chain behavior you can see when things are close to a top. I'm basically paying for it so I can maybe get a better idea on when to cash out. I will share that info here. I've shared pretty much everything I've been doing.

I think the whole Tether suit being settled is a huge deal and is kind of the launching point for next leg up. Not everyone on this forum may know what I'm talking about, but it definitely derisks the space even further. I've heard from multiple crypto fund managers online that they had spent a huge amount of time online fielding questions from other "sophisticated" investors about Tether concerns. Now with that off the table, it should clear the way for more participants to enter.

Because it's reaching a tipping point in political significance imo. It's also more interesting to follow than whether or not we get stimmys before the next bombing, or how I can be less white.

I'm not rooting for the demise of the dollar, but its fate is out of the everyday person's hands. As you say, bitcoin's rise is in part a reflection of the uncertainty around the future of the dollar. I'm just protecting myself and I think it behooves others to do the same. There is a lot to be decided as far as how this plays out. You can't just look at this from the standpoint of USD vs BTC. China is actively working on their own central bank digital currency (CBDC) and is in fact well ahead of us. They of course love what it could provide in terms of complete surveillance and capital controls. What happens when they build a substantial digital network to handle payments globally? How much of the world falls under that regime? Do we continue to try to defend and utilize/weaponize the Swift network that will soon become obsolete? That's a dead end road imo. The infrastructure is already there with the bitcoin network globally to be an international payment/settlement structure. It is a better option for what is inevitably coming, but I'm not sure how to best maintain the USD's position. Can it be squashed? The most likely way that the government will attempt to attack bitcoin is via the fiat on and off ramps. Close those to US investors. Other countries have tried the same, but it only increases the interest and popularity of it in those jurisdictions. If someone tells you don't need something and then bans it, that's a good sign that you probably need to look into it. In the end, I think that Bitcoin has achieved critical mass here in the US. Too many large institutions own it. Too many rich people and politicians own it. Too many average people are starting to own it now via Cash App and PayPal. The younger generations are digital. And this isn't the 1930s with the omnipotent FDR banning and confiscating gold. There's not enough political will to do that.

https://www.smithsonianmag.com/history/there-never-was-real-tulip-fever-180964915/

The kids listen to Montell Jordan?

Specifically in China due to poor central planning, they have overbuilt hydroelectric capacity. The grid literally can’t handle it so it’s wasted.

Thanks for the tip. Despite starting this thread, I have an extremely limited knowledge of this topic. Has there been a bitcoin thread before? I didn’t say speech was censored because of their currency. Not sure how you got that. I do think as there’s more and more instances of people in power gaming the system to their advantage or censoring others, that a system without one entity in charge becomes more attractive. Re bitcoin energy consumption and it being a “waste”: a large amount of energy consumed for bitcoin mining is excess energy supplied by things like hydroelectric dams. Whether one considers the energy consumption used to maintain a non-sovereign monetary network a waste, is totally subjective.

I never wear a mask outside.

We already have a thread in the markets forum, but it’s mostly a handful of enthusiasts going back and forth with new info. That, and new posters asking how they can buy some etc. I’m curious what thoughts all the serious people on this forum have on Bitcoin. Before its recent pullback the value of the Bitcoin network crossed over $1 Trillion dollars. Although still relatively small in terms of market size it seems to be reaching a size of geopolitical significance. Large money managers, high net worth individuals, pension funds, insurance companies, publicly traded corporations are all getting exposure to the asset. One Senator, a small caucus in the House, and the richest man on Earth are advocates for it. Bitcoin is both complex and simple at the same time, but there’s two main aspects that fascinate me and imo give it massive tailwinds. 1) It’s the first asset in history whose supply cannot be increased in response to an increase in demand. There’s a set emission schedule that cannot be changed. This has massive implications as whatever value you have stored in it cannot be arbitrarily diluted by outside forces or any centralized entity. As MMTers gain more influence and stimulus continues indefinitely inflation potential will rise, but now people are more easily able to protect their savings. Given that inflation is most harmful to people on the lower ends of the economic spectrum, bitcoin has the potential to actually help combat inequality. 2) Decentralization- The trend towards more centralization of money and power has been accelerating. Bitcoin’s network is decentralized. No one entity controls it. Anyone can use it, or not, as they please. Transactions cannot be censored. As politicians and big tech continue to censor people’s speech or their ability to earn a living, more and more people will look to a system that is open like Bitcoin. Of course governments don’t like losing any control, but especially over people’s money. Many governments have already attempted to “ban bitcoin” with poor results. Soon the US Govt will likely take their shot and try to squash it out. I think that’s misguided and ultimately futile. As a footnote, the price as of this post is $46,494.

You’re saying that there’s less than 50% mask usage, but I’m the one that’s dishonest? I can’t think of the last place I went that had less than 50% usage that was indoors. And I have 4 kids. 3 play youth sports. I’ve been around the state in the last year. Again, can’t remember the last time I saw less than half in masks at one location, but you say that’s the statewide number. Just total nonsense. Anyway, now have to walk into gym for 10 year old girls basketball game now. Will be 95%+ mask usage if not 100% by parents and coaches in attendance.

Where do you see people not wearing masks when they should? Where do you live? I’m in a red area and everybody has masks on at HEB. Walking into restaurants.

Agreed. It’s probably better stated as it would take something cataclysmic to dump the price below those levels currently. I know we were there just a month or two ago, but large amounts of money continue to flow in everyday and that’s setting a floor. At least that’s the explanation.

I think masks help. I wear them. I was responding to your specific claim that with universal mask usage we could’ve already reopened. I’m a bit skeptical of that because we are already close to universal mask usage, but whatever. There was also a claim here yesterday that masks have eradicated the flu. I asked where they got that from too. Crickets. YoU CanT HaNdLe Cr. WE bRinG tHE FacTs heRe

This is when you don’t sell. Stop looking at crypto Twitter or the news if you need to stop thinking about it.

I think before. A newsletter I follow that has been pretty accurate has a proprietary model based on capital flows that puts a number on the floor under Bitcoin’s price. It has never been broken in the last 5 years. Last update said the floor was 39k. Essentially would take a black swan event to go below that.

What evidence is that?