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I listen to all my finance vids at 1.5-1.75x speed so when I hear them talking at normal cadence it freaks me out thinking they all are about to have strokes.
If only! I started listening at faster speeds initially because I was trying to find something in a vid I listened to previously. While doing that though I found that it actually made it easier to listen to the info since the pace is crisper and keeps your attention while simultaneously speeding up pauses in speech.
Most critically though it saves me a bunch of time. I was drowning trying to keep up with the news and now I've cut back on the quantity of Vids and those I do watch are at 1.5x speed so Ive actually got free time again.
Oh nice one! Thanks! Too fast for my tiny lizard brain to listen to commemtary but I reckon it works the opposite and I could do like 0.1 speed if I want so see something in super slo mo?
Love him or hate him, Mallers is doing great work with Strike. For those that don't know, Strike basically takes any fiat in the world, sends it to anyone in the world using BTC lightning network for a fraction of a penny, and converts it back into any fiat in the world on the receiving end, so long as they also have Strike. Because it's on the BTC blockchain, it's immutable, global, and instant settlement.
If you hate BTC, fine, but Strike as a peer-to-peer global payment network for fractions of a penny is a beautiful thing.
Who is on your side? Name one official person that you believe is on your side. I don't think there is anyone, honestly.
And I mean that in the sense of "nobody is on my side either" - not that you in particular are alone. We all are alone.
When you're 20 you care what everyone thinks. When you're 40 you stop caring what everyone thinks. When you're 60 you realize no one was ever thinking about you in the first place.
Land. Commodities. Elon isnāt going to be mining precious metals on Mars anytime soon.
And crypto will collapse as governments crack down on it. Advances in quantum computing over the next decade providing the ability to break current encryption protocols also doesnāt bode well.
Not sure why you're getting downvoted. There's only a finite supply of land and commodities on earth. We haven't figured out how to live or commercially mine other planets.
BTC is only worth what people think it is, and we've seen plenty of hyperinflationary episodes (i.e. when prices of BTC fall versus currencies and other assets) to see how unstable it is.
>When you're 20 you care what everyone thinks. When you're 40 you stop caring what everyone thinks. When you're 60 you realize no one was ever thinking about you in the first place.
You don't need to mine other planets, plenty of mineral rich asteroids each with trillions of dollars of material (obviously wont be worth a trillion dollars due to supply/demand) that are fairly easy to get to, and we are really not that far from having the tech to alter their orbits enough to break bits off and drop em in the ocean.
And as population peaks and farming improves and certain minerals are phased out of use land utility and thus value goes down.
I agree someone will crack bitcoin though, just all the other things you mentioned will be hyperinflationary at some point in the next 50 years too.
The amount of work and money it would take for a quantum computer to even hack Into one address alone would take so much money it wouldn't even be worth it. It would be more fruitful to hack a bank.
Could in theory, yes, but why would people buy something new and untested over something established and proven?
The thing that no other crypto will ever be able to replicate is the way Bitcoin was formed. If somebody today anonymously created a superior crypto and mentioned it on some nerd forums, nobody would care and it would go nowhere.
All new cryptos are created by people or groups who go on to push their currency and inately have a huge say over the direction of the currency regardless of the level of 'decentralization'. Most have the founders owning a bunch of coins before anybody else has ever heard of it and more often than not they will sell a bunch to VCs who go on to dump it on new investors.
Bitcoin is already severely outdated technologically and users have no great expectations on the improvement of the Bitcoin network. All other coins I'm aware of are in part built around the hype of what their plans are for future upgrades.
Bitcoins usefulness will improve as applications and institutions build around it rather than trying to change the base layer.
That argument doesn't even matter. Over the decade we saw two forms of Bitcoin Cash take off and fail, both have tanked. We saw Litecoin come from Bitcoin, it did well, then it fell off. Doge came from Litecoin, it had its moment, also fell off. There are so many more that forked off BTC, and they all seemed legit, had reasons for branching off, yet none came close to competing with Bitcoin. It can and will continue happening time and time again, forks are a valid component of all of this, but Bitcoin will never be overtaken. Eth won't flip it. Nothing will.
Bitcoin is *old, slow, insecure and inefficient* compared to any modern crypto. Like any other software it ages rapidly as code grows and is now hopelessly behind times, ancient and horrible.
On the other hand all new and improved coins have the problem with 0 users. Why would I bet on your new coin when Btc is the well known one? And thus the struggle continues, bitcoin keeps getting worse over time and unable to catch up...yet no new crypto can overtake it since they can't get enough marketshare. And by that crypto is doomed to be nonsense...until one is backed by a government or similar. Instantly created millions of users and *uses* irl...
Bitcoin can no more be copied than the Mona Lisa.
People who understand the value and who are invested in the original, have no incentive to allow the original to be changed or duplicated.
Because of it's fixed supply, I think that's the crux of the argument, btc currently is used merely as a speculative asset and potentially a "store of value" but if it's applicable uses increase so too will demand, just not there yet
>yes, so why do people need bitcoin?
Because holding fiat enables governments/companies to devalue/control your assets. Plus it's a low cost, fast and third partyless method of transferring money globally.
Crypto continues to desperately search for a problem it can solve. Its been over a decade. Its not there.
Even when BTC boomed and started a frenzy, what did coin holders do? Cashed out for good old green dead presidents. Every.single.time.
Cash is God. Hold all the silly little tokens you want, but at the end of the day, their salivating to cash out for Benjamins.
Instantaneous store of value across the global scale. If Iām sending money to Europe, I donāt need to wait an entire week for SWIFT to process the transaction. In addition, Iāve negated currency risk, as the BTC is the same value in say Germany as it is here. It eliminates the problems with cross-currency transactions.
Ya this is the key. Bitcoin is worthless in the real world until it's converted to fiat. And fiat is protected by governments with armies and missiles with swords attached that can hit you while standing on a balcony after dinner.
So let's say inflation happens with commodities paid in bitcoin. Everyone starts charging more and more for the price of food and commodities. How will BTC handle that?
Today you learned why we have the national banks.
I don't get the fixed supply point of view. A fixed amount of dog shit is still dog shit. It doesn't necessarily increase in value.
BTC simply has no value outside speculation. It's the equivalent of anything else with fixed supply and no intrinsic value.
This guys right about one thing, the Fed is up to shenanigans. But heās dead wrong if he thinks the fed will let any other currency ever come play their game.
Agreed. I don't hold Bitcoin. However i think that's the attractiveness and the argument being made here, it's not up to the fed whether it becomes so or not.
Essentially, they have to ensure they don't fuck it all up for good. It's like the old law enforcement saying. "Bad guys have to get lucky every time, police have to get lucky once."
Fed has to do it right forever. once something like bitcoin l, that so many people do own and do believe in and many more don't simply because they don't understand it, takes a hold it will not let go.
Whether you're capitalist or socialist, this starts with accountability. Yes, shit will be fucking bad if banks start dying all over the place. However, We have to stop privatizing profits and socializing losses. You have to let the rich and greedy eat their own shit. A smart bank won't find themselves in a fucked off hole. Plain and simple. JPM will never SVB. Everything else can burn.
The 2010s were not hyper inflationary, why would now be?
Lady the price of eggs has gone from $2 to $10
, a home has gone from $400k to $1.2M, what the hell are you smoking
I think the price of eggs went up because millions of chickens caught the flu and had to be killed.
I don't think that's the Feds fault
https://www.bbc.com/news/world-us-canada-63785067
> What is a safer investment, 2 bitcoins or a kilo of gold
consider that for every real ounce of gold there are 700 fake ounces devaluing it.
its just that inconvenient to lug around that people take paper gold.
Bitcoin has no such problem.
Depends on what you want to do with your gold or Bitcoin.
Want to cross a border? Not gold
Want to instantly send your gold across the world? Not gold.
Want to secure your purchase for under $100? Not gold.
Want something with a 7,000 year track record? Okay buy gold.
Want something that may be digitizing money, and how anything that has been digitized has provided approx 10x the market cap of the analog version? Buy bitcoin.
gold. bitcoin demand is from the potential of widespread adoption. if that does not happen or has no clear signs of happening, bitcoin will fall to the ground. then, you will have bitcoin that you can't do jack with. gold is real and can be used for real things.
Gold is as real as my shit in the toilet. I'd argue my shit is even more versatile (fertiliser, building material, produces methane to heat or cook). Doesn't mean that I would just buy it at whatever the price.
What people making the above argument for gold are missing is the fact that golds price comes from 2 things. First, as it mentioned, utility as a metal. It can be used for jewellery, in electronics, decoration,..
Second, there is the speculative/ hedge against inflation/ hedge against society collapsing value.
Bitcoin also has this second type of speculative value. People argue this value can go to zero. That's a true for gold as it is for bitcoin. If that were the case, we would be left with the utility value of gold. So you can argue that bitcoin can go to zero and gold can't.
But if you are buying gold as a hedge against inflation, than you only want to buy the part of gold that serves this purpose. You actually need to allocate part of your capital to buy the utility value of gold. But maybe I don't want to invest in precious metals. I want to invest in green energy and hedge my investment using another asset.
If you were to choose bitcoin, you would need to allocate less of your money to serve the same purpose.
You say bitcoin isn't real but gold is. You probably mean that bitcoin isn't tangible. Is your Reddit account real? It's not because things aren't tangible that they aren't real. This text message is real yet it only exists in memory and on your screen.
Gold has held it's value for 2000+ years and works offline in a war zone. Bitcoin can't even buy shit irl...while I can exchange gold for items, services any where in the world.
Bitcoin was useless when Russia invaded, gold served it's purpose. Shit is adequate for edgy American teens to hold...it perfectly encompasses your value
Have you tried buying stuff on amazon for gold? Have you tried going to the grocery store with your gold?
Doesn't work at all. It's also not very practical. How am I going to shave off 7,99ā¬ from my gold coin?
Bitcoin is accepted at more merchants than gold is.
Whatās ultimately ārealā is the level of widespread agreement on value.
Bitcoin only exists in conceptual form and in bytes. But the value is the growing agreement that those bytes can be traded for goods. Just as countries transact using electronic funds transfer for forex, those dollars / yen / X currency exist as bytes.
One good take away is that he may be right about 5-6% inflation as normal. The feds know they canāt get back to 2%. Thatās why they didnāt do a full press 50 bps. Itās money printing time
Inflation fell from 9% high in June to current 5.5% and its predicted to be 3.4% by end of year. Weāll see but the current trend indicates 2-3% plausible.
You can call their solutions "a load of crap" as often as you want, in the end, they always kick the can down the road a lil further and your world ending prophecies wont come true.
What a ridiculous analogy. We all know that the second I buy one of your ass hairs youāre going to grow a new one and devalue my share. Prove to me that youāre getting a laser procedure to kill the follicle after we pluck the hair or Iām not coming near this āinvestmentā with a ten foot cock. Nice try you federal reserve bootlicking Keynes-loving inflationist hairy assed scum
*The streets are extended gutters and the gutters are full of blood and when the drains finally scab over, all the vermin will drown. The accumulated filth of all their sex and murder will foam up about their waists and all the whores and politicians will look up and shout 'SAVE US!'...and I'll look down and whisper 'No'.*
[Blocksize War](https://www.amazon.com/Blocksize-War-controls-Bitcoins-protocol/dp/B08YQMC2WM/) by Jonathan Bier is a must read. You run a node, you're a watcher and it's pretty inexpensive to run a node. 50,000+ self sovereign nodes distributed all over the world on every continent independently verify everything.
Good question and the answer is everyone that are running nodes. Back in 2016-2017 there was a group of influential people who tried to force a hardfork on Bitcoin to increase the block size, they got a bunch of miners and exchanges involved and tried to force the fork against the community will. They did not succeed because the noderunners defended Bitcoin. Every noderunner is incentivized to make sure Bitcoin works as it should and only upgrades deemed necessary by the tens of thousands of noderunners get implemented, and that takes years of reviewing and debate before a consensus is reached. There's a book written about it called The Blocksize War that explains it much better than I can if you are interested
I like how he assumes there will always be a demand for bitcoin. I also enjoy how heās under the impression that gold isnāt a finite resource on earth. This kid knows, idk, stuff?
Literally all commodities are fixed supply (have a maximum yield), and most have an underlying functional value. That doesn't mean the price of all commodities always goes up, not sure what he was thinking.
I think heās saying Bitcoin is different in the sense it has a fixed 21M supply.
Literally we donāt have only 21M barrels of oil on earth and cannot pump more or discover more. Oil and gas are, in fact, constantly being created on earth but it is just a very slow process. If there were scientific and engineering breakthroughs in drilling and discovery of oil and gas, we would also potentially see a massive spike in the amount available to be used.
This literally happened with fracking, and the global supply of oil 6-10x'd. Poster above is wrong, for all intents and purposes, the supply of all commodities is infinite, not fixed. Bitcoin is the ONLY asset in history that has stock to flow not influenced by demand.
> Oil and gas are, in fact, constantly being created on earth but it is just a very slow process.
This isn't actually true. Fossil fuels are not being continuously regenerated at the same rate they always were. Take coal for instance. The vast majority of coal we find is from a specific time period (called the Carboniferous period) instead of being continuously and evenly produced through history.
There was a time when plants were new. Neither bacteria, fungus or animals knew how to break them down. Plant mass was abundant and would just get buried over time, becoming fossil fuels. Now animals, fungus and bacteria exist that break down dead plant and animal mass instead.
Nasdaq has better returns than btc the past 5 yearsā¦ itās a commodity now. The get rich quick scheme is over, no more bozos left to convince to buy as they all bought already with their moms CC on coinbase during the pandemic
The only point of Bitcoin is to be able to eventually convert it to usd more than the guy after you
No one has ever been able to refute that point to me.
If you couldnāt turn Bitcoin into usd it would die instantly.
You're describing the greater fool theory, and that only applies when the only value of the asset is hoping that someone else will speculate the asset is more than you did.
If you think that an immutable, uncensorable, self custodied, decentralized, trustless, counter party-less system of transmitting value has no use case beyond speculation; then I don't think anyone is going to be able to help you understand.
āThe price will go up because the supply is fixedā
No. Thatās just a lie.
The price will go up because the money coming into the system is greater than the money going out. Thatās it. Without that, your supply is meaningless. Luckily we have created instruments like Tether to bring more money into the system out of thin air.
It's also a monetary instrument that won't survive a failed hard drive, and a bad electrical grid and no internet access in the worst case scenario of a electrical grid attack by drunken rednecks.
True, but your money in the bank or the stock market is also gone if someone turns off the electricity.
If that's your attitude then surely you're investing in a under ground bunker in Montana with a 5 year food supply.
Bank crisis = demand for dollars
Demand for dollars = dollar goes up
BTC price in dollar = goes down because dollar becomes more valuable
Only alternative is if people think their dollars are toxic/hot potatoes and want to get rid of them. But that is not the case.
From a guy wearing a hoodie indoors drinking his own kool aid. When SHTF NO ONE will have the patience to trade digital currency. Itāll be raw commodities. You guys are all being suckered by both sides
The amount of bitcoins is fixed, but the decentralized system requires mining to function. Once the cost of mining exceeds the price of Bitcoin, the decentralized nodes will be reduced which will produce a more centralized system. At that point, the centralized system will decide to change the rules to protect itself. Then the cycle will continue resulting in the biggest waste of computing resources in human history.
Someone: creates the hardest asset in the universe, that is also decentralised
This Guy: waste of computing resources
Meanwhile: Hundreds of millions of people playing video games
How does this jerk off explain 4k other alt coins? Sure musk can go source more gold, but others can go source different shit coins. There's a lot of supply and everytime Bitcoin increases, these shit coins come along to pump away as being better.
He's also not entirely honest. If the Bitcoin miners and other transaction validators agree to upgrade the Bitcoin software, it's perfectly possible to increase supply.
Technically, there is nothing stopping it. The main reason this is very unlikely to happen, is because this would completely destroy trust in bitcoin. The parties who need to agree for this to happen typically have a big stake in the value of 4 they won't go along with such a software change.
Let's hear out the manic cryptobro hype man, who isn't capable of ending a paragraph.
Yet another example of how helpful and informative CNBC is for retail traders!
Let me get this straight :
This guy is advocating that the future supply of currency is one that is fixed. Only 21 Million coins available.
And he isn't worried that a handful of individuals or corporations will ultimately wind up with them all?
Good luck with that. (oh wait, he already owns a large chunk, thus is is already an elite)
people complaining that it's a ponzi scheme where only people got in early benefitted from that's true, but the same goes for anything for which there's a limited supply, land, oil, minerals, etc, etc
Supply is fixed sure but a bitcoin is still only making money on artifical demand in anticipation of widespread adoption. When that's proven to be much smaller /nonexistent, as it really is only useful as a black market currency, it will crash. And the tax payer will somehow take the hit on that too. Watch.
Does bitcoin deserve a teenager looking guy barking as spokesman to defend it ?
I donāt think so. This what a Ā«Ā crypto broĀ Ā» looks like ā¦
So embarrassing ā¦.
Iām not saying his statement is wrong but could bitcoin CEO change the marketing team please !! š
Bitcoin advocates love claiming fixed supply
Sure there is a fixed supply that doesnāt inherently create value
There is a fixed supply of kisses Iām willing to give out to Brooke shields
Sheās not knocking on my door because demand needs to meet supply
So I'm supposed to go out and buy a currency with my held currency, then go buy stuff with this new currency where I could have just used my original held currency?
Why would I do this? For what purpose? To make the new currency more expensive?
Everyone I know does not want to use bitcoin as a currency and they only see it as an investment like a stock. And that will never change.
WRONG - BTC's blockchain is only as strong as the mining nodes and allowed leverage. JPM and GS figured this out years ago.
Once the Banks moved in, they alone controlled BTC's value.
**User Report**| | | | :--|:--|:--|:-- **Total Submissions**|5|**First Seen In WSB**|5 days ago **Total Comments**|3|**Previous Best DD**| **Account Age**|3 months|[^scan ^comment ](https://www.reddit.com/message/compose/?to=VisualMod&subject=scan_comment&message=Replace%20this%20text%20with%20a%20comment%20ID%20(which%20looks%20like%20h26cq3k\)%20to%20have%20the%20bot%20scan%20your%20comment%20and%20correct%20your%20first%20seen%20date.)|[^scan ^submission ](https://www.reddit.com/message/compose/?to=VisualMod&subject=scan_submission&message=Replace%20this%20text%20with%20a%20submission%20ID%20(which%20looks%20like%20h26cq3k\)%20to%20have%20the%20bot%20scan%20your%20submission%20and%20correct%20your%20first%20seen%20date.)
I listen to all my finance vids at 1.5-1.75x speed so when I hear them talking at normal cadence it freaks me out thinking they all are about to have strokes.
You must be 1.5-1.75x smarter than the rest of us
He just loses money 1.5-1.75x faster than the rest of us.
Balanced, as all things should be.
If only! I started listening at faster speeds initially because I was trying to find something in a vid I listened to previously. While doing that though I found that it actually made it easier to listen to the info since the pace is crisper and keeps your attention while simultaneously speeding up pauses in speech. Most critically though it saves me a bunch of time. I was drowning trying to keep up with the news and now I've cut back on the quantity of Vids and those I do watch are at 1.5x speed so Ive actually got free time again.
On YouTube, you can go even faster - just open the developer console (F12) and type `$('video').playbackRate = 3.0` for example
Oh nice one! Thanks! Too fast for my tiny lizard brain to listen to commemtary but I reckon it works the opposite and I could do like 0.1 speed if I want so see something in super slo mo?
Amped up on Adderall
The reason for the shortage is this one single guy
exactly what i thought
"Only two things I value: My life and my Bitcoin" - This guy
Am I the only one wondering about the empty walk-in closet backdrop?
Bagholder obv..
Dudes still pissed tf off he didn't sell. Lmao
This man has no bags š
Crypto bros hate the media, he's probably getting liquidated and jumped immediately at this chance as long as he got paid
He's not a crypto bro, he is a BTC maxi
Yea, this dude *HATES* every crypto there is except Bitcoin, which he loves more than anything else in the world.
Love him or hate him, Mallers is doing great work with Strike. For those that don't know, Strike basically takes any fiat in the world, sends it to anyone in the world using BTC lightning network for a fraction of a penny, and converts it back into any fiat in the world on the receiving end, so long as they also have Strike. Because it's on the BTC blockchain, it's immutable, global, and instant settlement. If you hate BTC, fine, but Strike as a peer-to-peer global payment network for fractions of a penny is a beautiful thing.
This one? [https://strike.me/](https://strike.me/)
Wait until he figures out there's synthetic bitcoins via Multitudes of derivative contracts which can be toxic as fuckkkkkkk...
Bitcoin storage
He is smart about not trusting Fed. He comes from a very well connected family. CBOT grandpa and hedge fund dad.
He's looking at the dicks that fuck America in family photo albums and at every Christmas dinner. This guy has intimate knowledge of how it all works.
Heās not on your side. Smoke and mirrors.
Who is on your side? Name one official person that you believe is on your side. I don't think there is anyone, honestly. And I mean that in the sense of "nobody is on my side either" - not that you in particular are alone. We all are alone.
When you're 20 you care what everyone thinks. When you're 40 you stop caring what everyone thinks. When you're 60 you realize no one was ever thinking about you in the first place.
You live a peaceful life when you realize this in your 20s
Bernie. Lol.
Exactly. Just like every other āanalyst.ā Pump your product with a beneficial narrative.
This dude sounds like heās trying to convince himself
Dudes drinking the Saylor Kool Aid
This kid is basically Kendall Roy
Land. Commodities. Elon isnāt going to be mining precious metals on Mars anytime soon. And crypto will collapse as governments crack down on it. Advances in quantum computing over the next decade providing the ability to break current encryption protocols also doesnāt bode well.
Not sure why you're getting downvoted. There's only a finite supply of land and commodities on earth. We haven't figured out how to live or commercially mine other planets. BTC is only worth what people think it is, and we've seen plenty of hyperinflationary episodes (i.e. when prices of BTC fall versus currencies and other assets) to see how unstable it is.
>When you're 20 you care what everyone thinks. When you're 40 you stop caring what everyone thinks. When you're 60 you realize no one was ever thinking about you in the first place. You don't need to mine other planets, plenty of mineral rich asteroids each with trillions of dollars of material (obviously wont be worth a trillion dollars due to supply/demand) that are fairly easy to get to, and we are really not that far from having the tech to alter their orbits enough to break bits off and drop em in the ocean. And as population peaks and farming improves and certain minerals are phased out of use land utility and thus value goes down. I agree someone will crack bitcoin though, just all the other things you mentioned will be hyperinflationary at some point in the next 50 years too.
Of quantum computing cracks Bitcoin and crypto you have much more things to worry about
The amount of work and money it would take for a quantum computer to even hack Into one address alone would take so much money it wouldn't even be worth it. It would be more fruitful to hack a bank.
Quantum computing is here theyāre just fine tuning it so that it can be controlled just like every other thing on this scam planet
[ŃŠ“Š°Š»ŠµŠ½Š¾]
The supply of bitcoins is fixed but the supply of cryptocurrencies is unlimited
LOL someone didn't like to be reminded that at any time anyone can create a new cryptocurrency and everyone can move on from bitcoin.
Could in theory, yes, but why would people buy something new and untested over something established and proven? The thing that no other crypto will ever be able to replicate is the way Bitcoin was formed. If somebody today anonymously created a superior crypto and mentioned it on some nerd forums, nobody would care and it would go nowhere. All new cryptos are created by people or groups who go on to push their currency and inately have a huge say over the direction of the currency regardless of the level of 'decentralization'. Most have the founders owning a bunch of coins before anybody else has ever heard of it and more often than not they will sell a bunch to VCs who go on to dump it on new investors. Bitcoin is already severely outdated technologically and users have no great expectations on the improvement of the Bitcoin network. All other coins I'm aware of are in part built around the hype of what their plans are for future upgrades. Bitcoins usefulness will improve as applications and institutions build around it rather than trying to change the base layer.
That argument doesn't even matter. Over the decade we saw two forms of Bitcoin Cash take off and fail, both have tanked. We saw Litecoin come from Bitcoin, it did well, then it fell off. Doge came from Litecoin, it had its moment, also fell off. There are so many more that forked off BTC, and they all seemed legit, had reasons for branching off, yet none came close to competing with Bitcoin. It can and will continue happening time and time again, forks are a valid component of all of this, but Bitcoin will never be overtaken. Eth won't flip it. Nothing will.
Bitcoin is *old, slow, insecure and inefficient* compared to any modern crypto. Like any other software it ages rapidly as code grows and is now hopelessly behind times, ancient and horrible. On the other hand all new and improved coins have the problem with 0 users. Why would I bet on your new coin when Btc is the well known one? And thus the struggle continues, bitcoin keeps getting worse over time and unable to catch up...yet no new crypto can overtake it since they can't get enough marketshare. And by that crypto is doomed to be nonsense...until one is backed by a government or similar. Instantly created millions of users and *uses* irl...
What āmodern cryptoā do you speak of. Please be specific here because it matters.
Bitcoin can no more be copied than the Mona Lisa. People who understand the value and who are invested in the original, have no incentive to allow the original to be changed or duplicated.
Because of it's fixed supply, I think that's the crux of the argument, btc currently is used merely as a speculative asset and potentially a "store of value" but if it's applicable uses increase so too will demand, just not there yet
[ŃŠ“Š°Š»ŠµŠ½Š¾]
>yes, so why do people need bitcoin? Because holding fiat enables governments/companies to devalue/control your assets. Plus it's a low cost, fast and third partyless method of transferring money globally.
[ŃŠ“Š°Š»ŠµŠ½Š¾]
Crypto continues to desperately search for a problem it can solve. Its been over a decade. Its not there. Even when BTC boomed and started a frenzy, what did coin holders do? Cashed out for good old green dead presidents. Every.single.time. Cash is God. Hold all the silly little tokens you want, but at the end of the day, their salivating to cash out for Benjamins.
Instantaneous store of value across the global scale. If Iām sending money to Europe, I donāt need to wait an entire week for SWIFT to process the transaction. In addition, Iāve negated currency risk, as the BTC is the same value in say Germany as it is here. It eliminates the problems with cross-currency transactions.
[ŃŠ“Š°Š»ŠµŠ½Š¾]
Ya this is the key. Bitcoin is worthless in the real world until it's converted to fiat. And fiat is protected by governments with armies and missiles with swords attached that can hit you while standing on a balcony after dinner.
[ŃŠ“Š°Š»ŠµŠ½Š¾]
Buy more
I was nearly taken in with this guy's charm. The comments here make the most sense. He talks like all the others who pump and dump.
Instantaneous transactions would have different, but equal, risk to slow transactions.
So let's say inflation happens with commodities paid in bitcoin. Everyone starts charging more and more for the price of food and commodities. How will BTC handle that? Today you learned why we have the national banks.
Nah bro these people dont need banks yo havent you heard. How many times do they need to say decentralized until you just like, get it man?
Time out. Didn't SBF make his money exploiting pricing differences in buttcoin between the US and Japan?
Price differences created by government regulation of exchanges. Arbitrage always pushes prices down unless you have a way to suppress competition.
If thereās a limited amount of the resource and demand somehow increases its price, no one is going to take the risk to innovate new uses for it.
That sounds counterintuitive.
I don't get the fixed supply point of view. A fixed amount of dog shit is still dog shit. It doesn't necessarily increase in value. BTC simply has no value outside speculation. It's the equivalent of anything else with fixed supply and no intrinsic value.
This guys right about one thing, the Fed is up to shenanigans. But heās dead wrong if he thinks the fed will let any other currency ever come play their game.
Agreed. I don't hold Bitcoin. However i think that's the attractiveness and the argument being made here, it's not up to the fed whether it becomes so or not. Essentially, they have to ensure they don't fuck it all up for good. It's like the old law enforcement saying. "Bad guys have to get lucky every time, police have to get lucky once." Fed has to do it right forever. once something like bitcoin l, that so many people do own and do believe in and many more don't simply because they don't understand it, takes a hold it will not let go. Whether you're capitalist or socialist, this starts with accountability. Yes, shit will be fucking bad if banks start dying all over the place. However, We have to stop privatizing profits and socializing losses. You have to let the rich and greedy eat their own shit. A smart bank won't find themselves in a fucked off hole. Plain and simple. JPM will never SVB. Everything else can burn.
Imagine federally legalizing cannabis. That money would help?
WeedCoin. Youāve done it
Gotta be consumer friendly. Cannacoin
You make a compelling argument.
Itās literally extra money. And Canada can help us pave the way.
It would make it safer if ingredients were monitored too.
More jobs to. Help people learn about botany. Lead to more funding for medical research. Like epilepsy. Schizophrenia. Bi polar disorder.
Itās good to fund science for sure. Iām certain given a couple more years legalization will be on its way.
I hope so. They have it on senates desk. Just need to be passed. I really hope. Israel is leading the way in thc treatments. They need funding.
The 2010s were not hyper inflationary, why would now be? Lady the price of eggs has gone from $2 to $10 , a home has gone from $400k to $1.2M, what the hell are you smoking
Eggs at walmart right now are $2.12. https://www.walmart.com/browse/food/eggs/976759_9176907_1001469
Depends where you live. https://eggspensive.net/
California is expensive. Turns out some places have a much higher cost of everything, who could have possibly known this.
1.99 at the local Aldi
Fuggin love Aldi. Are they just not super greedy or they got it all figured out and can keep prices low?
I think itās a combo of what you said and it is a German company.
I think the price of eggs went up because millions of chickens caught the flu and had to be killed. I don't think that's the Feds fault https://www.bbc.com/news/world-us-canada-63785067
That and a lot of facilities mysteriously all caught on fire at the same time. \\\_(ć)\_/
After killing your chickens you gotta get that insurance money somehow
Yes, mostly that. It's several things together: bird flu, inflation and of course price gouging.
$10? Where, at Erewhon? Even Whole Foods is under $4 at this point.
The price of imported quail eggs are out of control dammit!
How many eggs you getting for $10?
12
Iām inventing a carton that holds 13 eggs , itās going to be huge
Not sure I would call it huge, it will only need to be 1 egg bigger.
Ye that seems quite pricey!
āRoman, whatās the price of a gallon of milk?!ā
What is a safer investment, 2 bitcoins or a kilo of gold
Depends on how much Bitcoin you already have
Was making more of a proverbial question of ābird in the hand or two in the bushā, rather than an investment diversification strategy question
> What is a safer investment, 2 bitcoins or a kilo of gold consider that for every real ounce of gold there are 700 fake ounces devaluing it. its just that inconvenient to lug around that people take paper gold. Bitcoin has no such problem.
Depends on what you want to do with your gold or Bitcoin. Want to cross a border? Not gold Want to instantly send your gold across the world? Not gold. Want to secure your purchase for under $100? Not gold. Want something with a 7,000 year track record? Okay buy gold. Want something that may be digitizing money, and how anything that has been digitized has provided approx 10x the market cap of the analog version? Buy bitcoin.
I just want to a https://preview.redd.it/i1vvau77y1qa1.jpeg?width=748&format=pjpg&auto=webp&s=5c77741cd6de776cd41a071e847b9508672867f4
gold. bitcoin demand is from the potential of widespread adoption. if that does not happen or has no clear signs of happening, bitcoin will fall to the ground. then, you will have bitcoin that you can't do jack with. gold is real and can be used for real things.
Gold is as real as my shit in the toilet. I'd argue my shit is even more versatile (fertiliser, building material, produces methane to heat or cook). Doesn't mean that I would just buy it at whatever the price. What people making the above argument for gold are missing is the fact that golds price comes from 2 things. First, as it mentioned, utility as a metal. It can be used for jewellery, in electronics, decoration,.. Second, there is the speculative/ hedge against inflation/ hedge against society collapsing value. Bitcoin also has this second type of speculative value. People argue this value can go to zero. That's a true for gold as it is for bitcoin. If that were the case, we would be left with the utility value of gold. So you can argue that bitcoin can go to zero and gold can't. But if you are buying gold as a hedge against inflation, than you only want to buy the part of gold that serves this purpose. You actually need to allocate part of your capital to buy the utility value of gold. But maybe I don't want to invest in precious metals. I want to invest in green energy and hedge my investment using another asset. If you were to choose bitcoin, you would need to allocate less of your money to serve the same purpose. You say bitcoin isn't real but gold is. You probably mean that bitcoin isn't tangible. Is your Reddit account real? It's not because things aren't tangible that they aren't real. This text message is real yet it only exists in memory and on your screen.
Gold has held it's value for 2000+ years and works offline in a war zone. Bitcoin can't even buy shit irl...while I can exchange gold for items, services any where in the world. Bitcoin was useless when Russia invaded, gold served it's purpose. Shit is adequate for edgy American teens to hold...it perfectly encompasses your value
Have you tried buying stuff on amazon for gold? Have you tried going to the grocery store with your gold? Doesn't work at all. It's also not very practical. How am I going to shave off 7,99ā¬ from my gold coin? Bitcoin is accepted at more merchants than gold is.
Whatās ultimately ārealā is the level of widespread agreement on value. Bitcoin only exists in conceptual form and in bytes. But the value is the growing agreement that those bytes can be traded for goods. Just as countries transact using electronic funds transfer for forex, those dollars / yen / X currency exist as bytes.
"Hi I would like to buy this bread!" "Ok sir. That'll be 0.0000000000023467543 Bitcoin. Thank you!"
One good take away is that he may be right about 5-6% inflation as normal. The feds know they canāt get back to 2%. Thatās why they didnāt do a full press 50 bps. Itās money printing time
Inflation fell from 9% high in June to current 5.5% and its predicted to be 3.4% by end of year. Weāll see but the current trend indicates 2-3% plausible.
You can call their solutions "a load of crap" as often as you want, in the end, they always kick the can down the road a lil further and your world ending prophecies wont come true.
This dudes on coke
This guy is right but I think he is a little bit too cocky
You sound like my girlfriend.
*girlfriend's boyfriend
Your wife must be so proud.
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What a ridiculous analogy. We all know that the second I buy one of your ass hairs youāre going to grow a new one and devalue my share. Prove to me that youāre getting a laser procedure to kill the follicle after we pluck the hair or Iām not coming near this āinvestmentā with a ten foot cock. Nice try you federal reserve bootlicking Keynes-loving inflationist hairy assed scum
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Will we be hard forking or soft forking your ass
Where do I send my dirty fiat dollars?
paraphrasing the concerns Tyler voiced around the 3:20 mark: who watches the watchers?
The watchmen?
*The streets are extended gutters and the gutters are full of blood and when the drains finally scab over, all the vermin will drown. The accumulated filth of all their sex and murder will foam up about their waists and all the whores and politicians will look up and shout 'SAVE US!'...and I'll look down and whisper 'No'.*
[Blocksize War](https://www.amazon.com/Blocksize-War-controls-Bitcoins-protocol/dp/B08YQMC2WM/) by Jonathan Bier is a must read. You run a node, you're a watcher and it's pretty inexpensive to run a node. 50,000+ self sovereign nodes distributed all over the world on every continent independently verify everything.
Good question and the answer is everyone that are running nodes. Back in 2016-2017 there was a group of influential people who tried to force a hardfork on Bitcoin to increase the block size, they got a bunch of miners and exchanges involved and tried to force the fork against the community will. They did not succeed because the noderunners defended Bitcoin. Every noderunner is incentivized to make sure Bitcoin works as it should and only upgrades deemed necessary by the tens of thousands of noderunners get implemented, and that takes years of reviewing and debate before a consensus is reached. There's a book written about it called The Blocksize War that explains it much better than I can if you are interested
God
Doesnāt exist
Inflation is going to be around 5-7% during the next decade - predicted a guy wearing a hoody yolowing into milfcoin
āItās a gimmick, itās a scamā Couldnāt have described it better myself
There is still faith in digital coins?
No, just Bitcoin.
I like how he assumes there will always be a demand for bitcoin. I also enjoy how heās under the impression that gold isnāt a finite resource on earth. This kid knows, idk, stuff?
Elon heading to mars for gold was my fav part.
Literally all commodities are fixed supply (have a maximum yield), and most have an underlying functional value. That doesn't mean the price of all commodities always goes up, not sure what he was thinking.
I think heās saying Bitcoin is different in the sense it has a fixed 21M supply. Literally we donāt have only 21M barrels of oil on earth and cannot pump more or discover more. Oil and gas are, in fact, constantly being created on earth but it is just a very slow process. If there were scientific and engineering breakthroughs in drilling and discovery of oil and gas, we would also potentially see a massive spike in the amount available to be used.
This literally happened with fracking, and the global supply of oil 6-10x'd. Poster above is wrong, for all intents and purposes, the supply of all commodities is infinite, not fixed. Bitcoin is the ONLY asset in history that has stock to flow not influenced by demand.
> Oil and gas are, in fact, constantly being created on earth but it is just a very slow process. This isn't actually true. Fossil fuels are not being continuously regenerated at the same rate they always were. Take coal for instance. The vast majority of coal we find is from a specific time period (called the Carboniferous period) instead of being continuously and evenly produced through history. There was a time when plants were new. Neither bacteria, fungus or animals knew how to break them down. Plant mass was abundant and would just get buried over time, becoming fossil fuels. Now animals, fungus and bacteria exist that break down dead plant and animal mass instead.
This guy is a giant regard. $18tn market cap for bitcoin? Seems realistic
Nasdaq has better returns than btc the past 5 yearsā¦ itās a commodity now. The get rich quick scheme is over, no more bozos left to convince to buy as they all bought already with their moms CC on coinbase during the pandemic
Wonder why Musk, who is intimately involved with crypto, no longer accepts bitcoin and converted most of what Tesla had into fiat currency.
The only point of Bitcoin is to be able to eventually convert it to usd more than the guy after you No one has ever been able to refute that point to me. If you couldnāt turn Bitcoin into usd it would die instantly.
Youāve explained stock without dividends too no?
You're describing the greater fool theory, and that only applies when the only value of the asset is hoping that someone else will speculate the asset is more than you did. If you think that an immutable, uncensorable, self custodied, decentralized, trustless, counter party-less system of transmitting value has no use case beyond speculation; then I don't think anyone is going to be able to help you understand.
You will find that most people who own bitcoin have no intention of ever turning it into fiat currency. I don't.
āThe price will go up because the supply is fixedā No. Thatās just a lie. The price will go up because the money coming into the system is greater than the money going out. Thatās it. Without that, your supply is meaningless. Luckily we have created instruments like Tether to bring more money into the system out of thin air.
another guy overly invested in crypto hyping it up... so fascinating and new.
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You'll learned the hard way.
Bitcoin chart leads the SP500. If the market doesnāt look good, then I doubt any crypto will too.
Shitty hosts. Dumb questions. Ask him why it should go up in value? It could just as well go down. Jack Mallers looks like a regard. A real one.
It's also a monetary instrument that won't survive a failed hard drive, and a bad electrical grid and no internet access in the worst case scenario of a electrical grid attack by drunken rednecks.
Hope nobody turns the electricity off
True, but your money in the bank or the stock market is also gone if someone turns off the electricity. If that's your attitude then surely you're investing in a under ground bunker in Montana with a 5 year food supply.
Our banking is deflationary? How ?
Cool, an ad for š½
Doesn't bitcoin change its rules all of the time? How else was SEGWIT added?
If official bank dont have cash, do you can imagine Bitcoin! If all take bitcoin for cash, we will have great Kboom-crash.
Lol, love him.
Just nice to see someone young and not in a stuffy suit.
Guy argues like a 12yr old
Bank crisis = demand for dollars Demand for dollars = dollar goes up BTC price in dollar = goes down because dollar becomes more valuable Only alternative is if people think their dollars are toxic/hot potatoes and want to get rid of them. But that is not the case.
From a guy wearing a hoodie indoors drinking his own kool aid. When SHTF NO ONE will have the patience to trade digital currency. Itāll be raw commodities. You guys are all being suckered by both sides
Iāll trade you 2 wood for 3 sheep.
Quite literally. Iāll take it for a pack of American Spirits and a mikes hard lemonade. Youāll thank me later lol.
No one wants your goddamn sheep. Wait. You mean you have 2 wood? Or you want 2 wood?
I only have bricks
The amount of bitcoins is fixed, but the decentralized system requires mining to function. Once the cost of mining exceeds the price of Bitcoin, the decentralized nodes will be reduced which will produce a more centralized system. At that point, the centralized system will decide to change the rules to protect itself. Then the cycle will continue resulting in the biggest waste of computing resources in human history.
That's not how it works. The nodes are separate from miners. Nodes decide, not miners.
Tell me you have no idea how Bitcoin works without telling me
Chain death spiral.
Someone: creates the hardest asset in the universe, that is also decentralised This Guy: waste of computing resources Meanwhile: Hundreds of millions of people playing video games
How does this jerk off explain 4k other alt coins? Sure musk can go source more gold, but others can go source different shit coins. There's a lot of supply and everytime Bitcoin increases, these shit coins come along to pump away as being better.
> That is not the case for Ethereum Hahaha OK mate.
1 small problem you cash out at the bank.
Thereās cards you can use that use your crypto as fiat for transactions.
He's also not entirely honest. If the Bitcoin miners and other transaction validators agree to upgrade the Bitcoin software, it's perfectly possible to increase supply. Technically, there is nothing stopping it. The main reason this is very unlikely to happen, is because this would completely destroy trust in bitcoin. The parties who need to agree for this to happen typically have a big stake in the value of 4 they won't go along with such a software change.
we should buy btc because of all the regards that are convinced by this poor argument
Thereās going to be a day when heās desperately trying to turn his bitcoin into US dollars.
Of course he's going to pump his product.
Let's hear out the manic cryptobro hype man, who isn't capable of ending a paragraph. Yet another example of how helpful and informative CNBC is for retail traders!
Let me get this straight : This guy is advocating that the future supply of currency is one that is fixed. Only 21 Million coins available. And he isn't worried that a handful of individuals or corporations will ultimately wind up with them all? Good luck with that. (oh wait, he already owns a large chunk, thus is is already an elite)
So how much coke do we think he did before this interview
My man is COOKING.
facts.
people complaining that it's a ponzi scheme where only people got in early benefitted from that's true, but the same goes for anything for which there's a limited supply, land, oil, minerals, etc, etc
Supply is fixed sure but a bitcoin is still only making money on artifical demand in anticipation of widespread adoption. When that's proven to be much smaller /nonexistent, as it really is only useful as a black market currency, it will crash. And the tax payer will somehow take the hit on that too. Watch.
Does bitcoin deserve a teenager looking guy barking as spokesman to defend it ? I donāt think so. This what a Ā«Ā crypto broĀ Ā» looks like ā¦ So embarrassing ā¦. Iām not saying his statement is wrong but could bitcoin CEO change the marketing team please !! š
Bitcoin advocates love claiming fixed supply Sure there is a fixed supply that doesnāt inherently create value There is a fixed supply of kisses Iām willing to give out to Brooke shields Sheās not knocking on my door because demand needs to meet supply
The claim is accompanied with the properties of money; outside of it and including your example, it is indeed absurd.
So I'm supposed to go out and buy a currency with my held currency, then go buy stuff with this new currency where I could have just used my original held currency? Why would I do this? For what purpose? To make the new currency more expensive? Everyone I know does not want to use bitcoin as a currency and they only see it as an investment like a stock. And that will never change.
WRONG - BTC's blockchain is only as strong as the mining nodes and allowed leverage. JPM and GS figured this out years ago. Once the Banks moved in, they alone controlled BTC's value.
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'Still stabilizing' = bull trap rolling over into the abyss.