The truth about Bitcoin (I think this is accurate)

Well since no one knows who the creator/founder is AKA mister anonymous, it does seem suspicious.

But I'm adamant that bitcoin is here to stay. It will have many ups and down. The fact that crypto prices move about 10 times as fast as the regular market makes it more appealing to this generation.

STEVE THE ADDICT^^^^^^""""-""""--'-"--^' wrote:[/bThe fact that crypto prices move about 10 times as fast as the regular market makes it more appealing to this generation.

Great until that momentum is in downward direction. Then this generation will likely find it unappealing.

You would think serious distance runners would be smart enough to not fall for something like this. If you want to become a good runner you have to put in the work, the high mileage etc. there are no quick fixes…. the same is true in life.

Bitcoin in the future. You want to be part of the future? BUY THE BITCOINS

Matt Damon wants me to buy Bitcoin. How could I say no?

Theres nothing to fall for. If you've held Bitcoin for any amount of time >= 1 year you are much richer because of it.

If you haven't, you just have fomo.

yargle wrote:

Theres nothing to fall for. If you've held Bitcoin for any amount of time >= 1 year you are much richer because of it.

If you haven't, you just have fomo.

Except that it’s unrealized gains if you have no plans to sell now & most crypto holders have very low balances (Robinhood accounts are very low balances relative to Vanguard and Fidelity )

thoughts and prayers wrote:

Matt Damon wants me to buy Bitcoin. How could I say no?

Fortune favors the brave. 😷

STEVE THE ADDICT^^^^^^""""-""""--'-"--^' wrote:

the creator/founder is AKA mister anonymous

probably an intel agency or other form of criminal syndicate.

unregulated market = easy manipulation. Most plausible is the common sort of securities crook.

yargle wrote:

Theres nothing to fall for. If you've held Bitcoin for any amount of time >= 1 year you are much richer because of it.

If you haven't, you just have fomo.

What if you bought at $19,650 on Dec. 15, 2017 and then sold at $5,165 on March 13, 2020? Would you be much richer then?

Buttcoin wrote:

You would think serious distance runners would be smart enough to not fall for something like this. If you want to become a good runner you have to put in the work, the high mileage etc. there are no quick fixes…. the same is true in life.

bitcoin is a very nuanced conversation, you need to be well informed on economics, macroeconomics, inflation, monetary policy, game theory, cryptography, politics, geo-politics, cyber security, pop culture.. to truly see the 'big picture'. I honestly feel that I applied more of my college education in deciding to buy bitcoin, than I ever did at my old job.

shipoopi wrote:

Buttcoin wrote:

You would think serious distance runners would be smart enough to not fall for something like this. If you want to become a good runner you have to put in the work, the high mileage etc. there are no quick fixes…. the same is true in life.

bitcoin is a very nuanced conversation, you need to be well informed on economics, macroeconomics, inflation, monetary policy, game theory, cryptography, politics, geo-politics, cyber security, pop culture.. to truly see the 'big picture'. I honestly feel that I applied more of my college education in deciding to buy bitcoin, than I ever did at my old job.

What price did you buy it? I might then have an idea of whether your education was worth it.

thoughts and prayers wrote:

Matt Damon wants me to buy Bitcoin. How could I say no?

Of course he likes Bitcoins. Bitcoin was invented Asia. Matt is part-Asian. His parents are tartars from Russia. Matt has very Asian facial features like most Russians.

Bitcoin is still undervalued. If you think FOMO has kicked in already, it hasn't.

Saving Private Ryan wrote:

thoughts and prayers wrote:

Matt Damon wants me to buy Bitcoin. How could I say no?

Of course he likes Bitcoins. Bitcoin was invented Asia. Matt is part-Asian. His parents are tartars from Russia. Matt has very Asian facial features like most Russians.

With regards to bitcoin's founder(s). It's probably the most open-secret out there. I know the let's run community has some sleuths. It's worth researching.

Satoshi was a pen name for at least 4 individuals.. One of them died in 2013.

Simple: Ponzi scheme

shipoopi wrote:

Bitcoin is still undervalued. If you think FOMO has kicked in already, it hasn't.

There is nothing undervalued about it. Or overvalued. If the next fool is willing to pay more for it you’ll make a profit when you sell.

Milkyio wrote:

shipoopi wrote:

Bitcoin is still undervalued. If you think FOMO has kicked in already, it hasn't.

There is nothing undervalued about it. Or overvalued. If the next fool is willing to pay more for it you’ll make a profit when you sell.

NGMI

Bitcoin doesn't seem rational.

1) No intrinsic value - you won't be eating or living in, or able to sell ₿ during a crisis. No internet and you've got nothing to redeem against.

2) Doesn't represent any labor hours or work, although some people could argue it's some sort of robotic labor [This point could probably be its own thread].

3) It can't make you more money, it's not like holding corporate stock, where production will create dividends

Why do libertarians like it? It doesn't have any of the features of commodity money that they are usually attracted to and has entirely artificial monetary rules.

Are people buying it because they think it will become the medium of exchange? What if it doesn't?

I have a lot of questions.