I mean where else on the World Wide Web can you get expert bitcoin investment advice from a Patricidal dude recovering from a brain injury and a gay porn actor all in the same place?
PFA baby!
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I mean where else on the World Wide Web can you get expert bitcoin investment advice from a Patricidal dude recovering from a brain injury and a gay porn actor all in the same place?
PFA baby!
Dude im done with you, your a fucking waste of space here on PFA.Quote:
Originally Posted by Sheesfaced
And I want to let you know too anytime, anywhere, I will fucking run your boy over (Tgull) you too probably. In an Intelligence Quotient test. I'll prove to you im not a joke like you seem to think (moron). HAHAHA that you think a dead beat from Orange County California (LOL) has a fucking thing on me, moron.
WoW you are fucking stupid clearly, are you reading what I am saying. And you offered an extra $500 to me to take an OFFICIAL I.Q. test vs. Tgull. And I will fuckin run him over in an intelligent Quotient Test moron, easy money please. I wont let you save that $500 either, big mouth. Now without being cocky, I am a bright guy, FACT. And I know that im just not cocky and I never have been. I want the I.Q test official, and I want your +$500 also since you are A run your mouth kinda guy implying Tgull has a higher I.Q. then me. Get fucking real man, but that is how stupid you are. I want your $500 motherfucker, get ready to pay up motherfucker. Anywhere anytime il destroy most people on this board in an I.Q test (Official one and real), and then lets see how you run your moth after im walking away destroying your boy Tgul in an I.Q. test and padding my pocket with an extra $500. WOW you really are fucking stupid, how you got wealthy your lucky because are not logical or intelligent AT ALL..
You have to understand the process for these IPOs.
The lawyers will sit the execs in a room and say "Right, tell me everything that could possibly be a risk to the ongoing business post IPO. Because if you know something and the the risk materialises, and the share price tanks, you might be going to jail. And in jail you can't enjoy your $20B payoff".
So they stand in front of the board a smack 1000 sticky notes on, and they all those risks end up in the IPO filing.
To extrapolate that to "omg da gubment invented bitcoin and coinbase knows it" is a real stretch of the imagination.
o.k you arent a dumb guy so....Quote:
Originally Posted by Belly Buster
explain to me why you think a person (human?), or a few persons or more if its a group, would NEVER have sold even 1 satoshi, ever. The Genesis block and first bitcoin ever, have still to this day never moved 1 Satoshi. Please explain to me how you think that is actually a 'human' like behavior, or heck even 'humans' behaviors. It's not, but that is 100% how a Government that created the Bitcoin (Secretly) does act. That's what the U.S Government would do, and they wouldn't ever sell 1 Satoshi, because that they know now, could destabilize the whole market. They didn't create this new, 'Digital' value system to make money off of it. It was more likely a Goverment Level viability, or maybe Test-case of sorts. WHo knows exactly but its the U.S Goverment undoubtedly.
They built the Bitcoin ground up, without a Market first oriented focus. I know its the United States Government. And that is why Bitcoin value has gone from pennies to ~60k a Bitcoin in only what 12 years now. And you actually think that is some sort of 'Human' like behavior. It is not, no wayyy, that is because since the Genesis Block was mined, it was the United States Goverment all along. And they never created this 'Test case' of sorts, to make any profit from it. Maybe it was to see just if anything non-Fiat would have some Viability, who knows.
Bitcoin was created for a reason by the United States Government in the middle of the worst economic collapse we have seen since the Great Depression, and VoILA the Bitcoin White Paper is 'published'. That timing, when you connect the dots, does give you that 'Aha' moment also. The reason 'Satoshi Nakamoto' has never even moved or sold 1 satoshi ever, is because it always has been the United States Government my friends. And we collectively all played a part in this 'Test Case' of sorts, which is pretty cool. Of all of the dots connected, for me the one that is actually the most telling. Is actually it's Timing, and when the 'White Paper' was published, and essentially created.
So a new digital Currency (Medium of exchange), or store of Value (like Gold) is created right in the midst of the worst Economic collapse since the Great Depression is happening, and Bitcoin is born. Thats how im absolutely certain, Bitcoin is created by The United Stated Government my friends. And I feel like they know if that is ever found out, then Bitcoin at it's core would be fundamentally changed forever. And Coinbases S-1 filing including the revealing that 'Satoshi Nakamoto' identity being figured out is a massive risk to their company and Bitcoin/Ethereum values. I think Coinbase there, is sort of indirectly indicating to us all, what they assume to be true. its Government created for sure.
Im certain, thats answers literally every question, the why's, everything. Bitcoin is the United States Government, always has been undoubtedly =)
NSFWQuote:
Originally Posted by Sheesfaced
garrett: hopefully this gets you banned or restricted, you never have, ever literally, added anything to this site. Your a moron!
1) You're
2) the pic is one of many that have been here for years. This is nothing new
3) SHUTUP GARRETT
(Aside from the morons here...)
I think this is kind of fascinating in ways, and many people I don't think understand this Fact...
"Just 2% of Bitcoin accounts hold 95% of the cryptocurrency in circulation"
The first seven months of Bitcoin's existence, Bitcoin creator 'Satoshi Nakamoto' mined as many as 1.1 million Bitcoin. This fortune, now worth in excess of 50+ billion, and remains untouched to this day. That is not at all 'human' but it is of course exactly how a Government would go about it. Given its 'Finite' supply characteristic and Limited supply, it makes sense some (Bulls) foresee a possibly 100k-400k Price Point here. And it does have all the exactly correct characteristics and with an ever increasing Demand, you really could have this scenario in time.
That all changes though, if people understood more and more all along it was and is the U.S. Government and it never actually was 'Decentralized'. That would rock Bitcoin to its core, and it will in time. But with Wall St. support there now, it will never be worthless I dont think. But given that, and it still being just an 'idiot garrett' theory, I cant ever be correct right =)...
I think it's widely accepted that Nick Szabo was Satoshi.
He is about as anti-government and pro-freedom of a dude as you'll ever find.
The digger you deep the more obvious it becomes. Of all the proposed Satoshi suspects, no one hated government control the way Szabo does.
Probably piss off a lot of woke poker players who've become filthy rich in BTC, but I think it's the truth.
I doubt it. If you had Bitcoins worth $40 Billion, wouldn't you cash out a few Billion dollars?Quote:
Originally Posted by Sidewinder
Satoshi Nakamoto isn't who you think it is.
https://images.cointelegraph.com/ima...U2Yy5qcGc=.jpg
Quote:
Originally Posted by garrettI am going to be honest here, I no longer feel Bitcoin is at all going to 100k-400k at all now, in the past 24 hours my entire position Towards the Bitcoin has changed.Quote:
Originally Posted by TheXFactor
When I read Coinbases S-1 Filing, I realized oh my god. They know with a doubt who created Bitcoin. And the reason it presents such a threat to them, and Bitcoin, is they know it is the U.S. Government and is wholly them. Bitcoin was created by the U.S. Government, wholly undoubtedly and Coinbase is saying that when they said there biggest 'Risk' to there Viability, and Bitcoins is. If people actually found out who created the Bitcoin, a run on the bitcoin would happen for sure. They know it and that is now, Coinbases #1 'Risk' and they know. In their filing without say that (they dont have too) they basically told us as much, indirectly. I was Flooored by this as their greatest risk, its the U.S. Government no doubt about it. And Coinbase knows. It does make total sense the U.S. Government wanted to see if a Non-Inflationary, Non-Fiat system had any Viability. And likely and to this day as a not publicized super 'Top Secret' operation of sorts, to see the Viability of people need or love for the Fiat paper currency.
Token' of sorts then, but Bitcoin as we know it is done when people realize that it is and always has been wholly U.S. Government created. When that fact gets out, people are gone. Bitcoin price is then, other than actual Market Viability maybe, but the 'Early Adopter' types. A and long holding people are gone. Once they realize and all along that Bitcoin the U.S. Government created. Bitcoin is done then, except for maybe this new Wall.St based stuff but the HODLER's are absolutely 100% gone. Short the bitcoin price and it may take some years for people to realize this fact. But I now, would be betting the DOWNside of bitcoin price, unequivocally....
Short Bitcoin imo and just relax, wait however many years for that FACT to become generally more known and accepted. Then (LOL) Bitcoin price, is gone we are talking back to 2010 levels too. Id be shorting bitcoin now myself, after i realized this and read Coinbases S-1 Filing now....
G- I showed yr reply, guy says you got a the right idea about it(yr older posts)..it its deeper, WORLD collusion, not just USA, Your only Err is that the Price will rise to enrich the Rich and the Bold! vs cash worthless to wipe yr tush, & further divide Society. Do NOT PANIC sell yr Crypto. Guy Says to BUY NOW..if u are not All in already.
We might never know, but I'd take an even money bet that you're wrong.Quote:
Originally Posted by garrett
Nice and appreciate the reply.Quote:
Originally Posted by shoeshine boxQuote:
Originally Posted by garrett
G- I showed yr reply, guy says you got a the right idea about it(yr older posts)..it its deeper, WORLD collusion, not just USA, Your only Err is that the Price will rise to enrich the Rich and the Bold! vs cash worthless to wipe yr tush, & further divide Society. Do NOT PANIC sell yr Crypto. Guy Says to BUY NOW..if u are not All in already.
I myself only found Bitcoin around Black Friday exactly and iirc Bitcoins back then we're nothing. To a point like this current TopShot Market forming, I had no real interest beyond I loved to play Poker. And because of Black Friday and Not being able to play online poker anymore. I found Bitcoin and actually in a way, for me I do have to give kudos and respect to Brian Micon. Foor whatever reason, he had that vision. Maybe being a 'Lofty' kinda guy anyway but he isn't stupid at all. Think he went to Indiana, that's not the easiest University to get into.
For me Bitcoin thru poker has always been viewed and used as a Medium. So I was never a 'HODLER' mindset wise. But if I could rewind 11 years when I was buying Bitcoins sub $100, pile, hold and sell now 50K+ I'd be selling not at all buying right now. But I only used Bitcoin as a Medium to play poker with mostly over time now. But I of course probably have a very high level understanding of lots about it, around it. My opinion's are formed from my own experience regarding this all.
Like I know, undoubtedly, this is not 'human' created or they 'benefiting' from it's Value now. Whoever that 'they' is of course. Its probably some highest, of high level internal Government entity. Like yes 'Government' but after that who knows. Could be DARPA, NSA, others you probably never even heard of. What their 'Mission' was and why they did this and then. The middle of the worst Economic Collapse in America since the Great Depression. For me that Timing is unquestionably the 'answer' to every question you have may have about, who created Bitcoin.
Hopefully you have that 'Aha' moment with that yourselves now ;-)
It all adds up, I know what it is, not that it matters. I was also employed myself by the Unites States Government at one point in life remember. And I know how high, at the highest of Level things do go, and can go. Sometimes you'll never know why, you don't need to know. And I don't know if I could go back I would be any different. For me at least Bitcoin is, always has been, used as a Medium to play poker with. So yes I was dibbling and dabbling in it wayyyy early, and unbeknownst to many here maybe, I'm not the only one obviously.. There's Bitcoiners on PFA too,
Doug Polk is a Bitcoin BULL and I wonder to myself how early he got in and for how big. Because he started making real money young. And he could even theoretically have made some very smart and correct decisions Bitcoin wise. Who knows but wouldn't surprise me at all. He would fit the mold exactly of who could possibly have 'knocked it out of the park' with Bitcoin. Anyway we probably know a lot less then we realize =)
In hindsight if we could all Live life in reverse we would never make any mistakes.. But unfortunately we aren't able to live life walking backwards. If we could live life in hindsight, would all be perfect then right =)
Doug Polk could easily have $100M+ in crypto as he got in early and had money to slosh around on the gamble.
I suspect Negreanu has $20M+ in crypto for much the same reason.
Kinda makes their HU match look like tiddlywinks game.
LOL and honestly, I really do now suspect as much myself....Quote:
Originally Posted by Belly Buster
So really, in theory of course (LOL). What actually REALLY happened was probably in reality, different lol. The masses thought it was for the hurtful Fiat, and they probably were just splashing around a few of their there newfound crypto Millions richs haha well played well played.....
That is actually possible because Doug Polk is a real Bitcoin BULL, and has been a while that position of his hasnt shifted, so id imagine having believe in it pretty long, he got in big at some points of course. So maybe even Srsly is crypto rich now haha, now that's probably stretching it for sure =). I would agree, and do also believe he has done well personally from crypto and that is why over time he has become a more outspoken Bitcoin BULL, that probably became more personal to him as the Millions in his bank accounts started doubling =)....
This is a good read, and interesting he actually has changed his position toward Bitcoin. And he is presumably now invested for ~3% of his entire Portfolios worth. That is a massive initial buy-in of course. Wall ST.'rs doing what Wall Streeters do, so Pro =)... I'd imagine with someone like him, it could be as high as 50Million+ or maybe 100Million+ 3% invested for someone as wealthy as him, as a lot. That is a big buy-in between Ethereum and Bitcoin. He presumably has now made a large amount also now with this big 2021 run up =)..
https://news.bitcoin.com/shark-tanks...sts-portfolio/
"Says Crypto Is Here to Stay, Invests 3% of His Portfolio"
https://i.imgur.com/o1C6Aql.jpeg
probably just a coincidence.
Years ago in my mid 20s when I bet on college sports all the time, a bookie I dealt with said do I know the teams mascot? I was betting on MAC schools trying to catch up, and he was actually trying to help me from getting in too deep. When I said I could not name the schools mascot, he refused to take the bet. I never forgot that. People betting crypto having no earthly idea of what it is, well, they need a book like I had to talk sense into them. Pure gambles rarely work, unless you get lucky a time or two. Hey, I'm Garrett now!Quote:
Originally Posted by sonatine
Quote:
Originally Posted by garrett
Be very leery of Mr. O'Leary. Remember a couple of years ago he was touting Dan Bilzerian's pot company.
Posting some random asshole from Twitter and noting that Lehman was a house of cards isn’t a coincidence at all.Quote:
Originally Posted by sonatine
Quote:
Originally Posted by tgullYears ago in my mid 20s when I bet on college sports all the time, a bookie I dealt with said do I know the teams mascot? I was betting on MAC schools trying to catch up, and he was actually trying to help me from getting in too deep. When I said I could not name the schools mascot, he refused to take the bet. I never forgot that. People betting crypto having no earthly idea of what it is, well, they need a book like I had to talk sense into them. Pure gambles rarely work, unless you get lucky a time or two. Hey, I'm Garrett now!Quote:
Originally Posted by sonatine
Pro tip: Johnny Millennial and his $10K is not the one running up the BTC market, regardless if WMU is the mustangs or NIU is the huskies (apareently I’m allowed to bet a lot of college football).
The recent moves have been all pro money and BTC treasury.
The mayor of Miami is pushing hard to become the bitcoin capital of the US. Putting up billboards in Silicon Valley and trying to woo bitcoin businesses to Miami.
The latest trends through the end of last year was the Sinaloa cartel was using bitcoin to launder money. All the Latin American cartels are getting into it.
I would hate all of this if I was a large BTC holder.
The intersection of Miami, the money laundering capital of the world and the cartel money, is a marriage made in heaven for corruption, but hell for some eventual action against bitcoin.
All you need is for one terrorism attack to be funneled through bitcoin, and money laundering to become more prevalent than it already is, and then you get some administration that wants to kill it, they’ll have reasons.
The banks and Musks of the world make it harder to kill with lobbyists and politicians, but I’m sure there are traditional powers that be that would like it killed.
Yeah, BTC allows both easy money laundering and easy transfer of mass sums of money across borders.
Not something the US is going to feel comfortable with for long.
Of course, I said this 9 years ago, and nothing happened.
Quote:
Originally Posted by DalyPosting some random asshole from Twitter and noting that Lehman was a house of cards isn’t a coincidence at all.Quote:
Originally Posted by sonatine
i have plenty of derogatory takes about dr michael burry but 'random asshole from twitter' isnt honestly on that list.
The naysayers missed the pivot point on the BTC use case:
It is undeniable we are devaluing the currency and causing massive REAL (not fake govt. measured) inflation with printing printing printing.
The argument is BTC is the harbor for this money printing as it is sound, hard currency.
Is this thesis correct? It looks like it - but the premise "the Federal reserve is inflating the money supply and debasing the currency" is proven. It is undeniable fact.
The only question is - does BTC become a sound money refuge as those holding fiat chase a way to preserve their wealth?
The premise is final. $10 gallon of milk is not too far away. It is the mortal nuts to happen.
When this thread was talking about how this was a bubble ~10 days ago it was a sign to buy.
I was half expecting to see a recent Kermit in here.
$60,000 a Bitcoin.
How long until $75,000?, $100,000?
Looking forward to listening to Warren Buffett and other "experts" who say Bitcoin is a fade and will be worthless soon, while Buffett buys back his own stock to artificially enhance his stock price.
https://pbs.twimg.com/profile_banner...34134/1500x500
Quote:
Originally Posted by tgullYears ago in my mid 20s when I bet on college sports all the time, a bookie I dealt with said do I know the teams mascot? I was betting on MAC schools trying to catch up, and he was actually trying to help me from getting in too deep. When I said I could not name the schools mascot, he refused to take the bet. I never forgot that. People betting crypto having no earthly idea of what it is, well, they need a book like I had to talk sense into them. Pure gambles rarely work, unless you get lucky a time or two. Hey, I'm Garrett now!Quote:
Originally Posted by sonatine
o.k. so since it's 4:30AM and im on coffee #3, ill talk out loud here a little....
I think what is surprising me actually is how sort of seemingly basic, and also with a lack of real understanding of well, everything Bitcoin. Maybe it's because you all had this feud with Druff and Micon years ago, and their was a totally different viewpoint toward the Bitcoin that Druff had vs. whats Micon had.
Now if it mattered actually. And it doesn't Micon would have to be deemed correct here. Bitcoin in ~11 years has gone from a few dollars to now 60k a piece. You'll never in your lifetime see or own a Stock on the stock market, or any investment that will do you as well as what Micron presumably did here with the Bitcoin. Bitcoins appreciation has been that of historic proportions obviously. Is it forever, I don't think so myself. Now could the bitcoin have now a permanent use case in Society, sure. And I think it will, but I do foresee some headwinds here. And to think everything or anything Market related that goes generally straight uphill, nothing ever does. So the regression should be factored in. For what, and why and when. No one truly knows yet but. Stay tuned =)
Now back to my point lol, im surprised at the general lack of even seemingly caring about Bitcoin and you all have known, heard all of it. And knew Micon what over a decade ago. And none of you are in like big time, well im sure a few actually are. But aside from that it just feels like you all are really late to the Bitcoin game, even just understanding wise. It's pretty confounding to me at times actually...
o.k. im done talking out loud now, carry on =)
(Micon the icon LOL...)
Well Micon gave 10k to a man with a neck tattoo. He wasn't a visionary of any kind. He shoot off a lot of money to every direction.
While we're at it, to this day bitcoin doesn't do anything it was supposed to do. It's not cheaper, it's not faster and it's not even remotely anonymous. None of the hippy dream shit is real.
You can call it a speculative "asset". That's about the only thing it does. There's like dozen shades of gray swans in it's future. Two biggest are governments fucking over it or just tech/software going past it and breaking any semblance of safety it has.
Correct!Quote:
Originally Posted by gimmick
Everything that was said about bitcoin and its advantage over fiat currency turned out not to be true, as time passed. Small transactions are expensive. It's not good for e-commerce (except gambling). As you said, it's not anonymous.
It's worth money because people say it's worth money, and then when people say it's not worth money, it won't be.
Being the visionary Micon was, it does seem a bit silly that he was giving away literal millions promoting a site, he obviously had no stake in, just to rake in a few thousand a month.
Or he just happened to donkstrike his way to something worth something while trying to dodge DOJ. The dodging part didn't really work out.
But sure, about all the visionaries telling amazing tales of BTC, i'm kinda forgetting the ones pitching it as a Ponzi scheme that will see appreciation at times when there's just too much money floating around. You know like when the printers go brrrrrrrrrrrrr and every decent investment opportunity is already overappreciated. I missed that pitch.
Instead we got tall tales of everything that blockchain was supposed to do. To this day i can't think of anything it has done to increase the value of BTC. It's used to verify digital prints in the ETH network. And that's the problem, the underlying tech behind BTC isn't protected at all. If it's worth anything, it doesn't cost anything to adopt it.
Quote:
Originally Posted by gimmick
You're actually smart and well thought out so.
In all seriousness I just give him credit because along the way he caught a lot of shit, but he always hung his hat in more ways then one on the Bitcoin lmao. Now was it an angle at times, to get some free scratch maybe. I wouldn't know but I wouldn't doubt along the way of course he maximized his own EV in some ways or another. But I think he deserves a little credit, whether he blew it all or not for being right about what Bitcoin would become that's all. And I don't care, I give him credit from the Contrarian Perspective more so then anything. When everyone said no no no, it now turns out he was right about Bitcoin. And regardless of how much, if any he has left id hope in some way shape or form his Bitcoin has in some way or another benefitted him and his family now. With him you cant really say, even if you disagree with his veiw points. He was never a bad guy, or a scammer, he was good for some lol's. And came along and made a deep run in the Main at the right time and it turned out good for him or so you hope now 20 years later.
I'm certain and i'll get lots of angst over this belief but. Its the United States Government as far as im concerned. That does check all the boxes. Even it's Timing tells a story. The white paper was published in the Middle of the Worst Economic Collapse, since the Great Depression. And voila the white paper is created published. And by someone who now, literally covered every single track never to be heard from again. lol if you think this is some human it's not. Its The Goverment......
It was good windfall for him and it was enough to deal with his legal problems. And i have no doubt he had faith in it, just like he had faith in every project that fell through before that.Quote:
Originally Posted by garrettQuote:
Originally Posted by gimmick
You're actually smart and well thought out so.
In all seriousness I just give him credit because along the way he caught a lot of shit, but he always hung his hat in more ways then one on the Bitcoin lmao. Now was it an angle at times, to get some free scratch maybe. I wouldn't know but I wouldn't doubt along the way of course he maximized his own EV in some ways or another. But I think he deserves a little credit, whether he blew it all or not for being right about what Bitcoin would become that's all. And I don't care, I give him credit from the Contrarian Perspective more so then anything. When everyone said no no no, it now turns out he was right about Bitcoin. And regardless of how much, if any he has left id hope in some way shape or form his Bitcoin has in some way or another benefitted him and his family now. With him you cant really say, even if you disagree with his veiw points. He was never a bad guy, or a scammer, he was good for some lol's. And came along and made a deep run in the Main at the right time and it turned out good for him or so you hope now 20 years later.
I'm certain and i'll get lots of angst over this belief but. Its the United States Government as far as im concerned. That does check all the boxes. Even it's Timing tells a story. The white paper was published in the Middle of the Worst Economic Collapse, since the Great Depression. And voila the white paper is created published. And by someone who now, literally covered every single track never to be heard from again. lol if you think this is some human it's not. Its The Goverment......
I honestly though that Micon System was a joke product for several years. I don't really know how serious he was when he released that. I'm hoping that he was just looking to cash in on his ESPN exposure. But i'm afraid he thought someone could pick some insight ofd those cd's to cover the cost. Making it just slightly scammy.
And you're giving too much credit to the government. They're are really happy to just be almost worth it.
Going to be fun when BTC runs to 74K over the next few weeks any then it drops back to 56K and everyone jumps in saying “I knew this was going to crash”.
There were a lot of early adopters because people saw it as a futuristic thing. Most vendors won't take it anymore aside from gambling. It's too unstable. Why would you buy or sell in BTC when you don't know how much the things you buy will actually cost, or how much income you will make as a vendor, from one day to the next? Maybe it will become more widely adopted when it's more stable, but the people who love it don't want it to be stable. They want it to go on a heeb run.Quote:
Originally Posted by Dan DruffCorrect!Quote:
Originally Posted by gimmick
Everything that was said about bitcoin and its advantage over fiat currency turned out not to be true, as time passed. Small transactions are expensive. It's not good for e-commerce (except gambling). As you said, it's not anonymous.
It's worth money because people say it's worth money, and then when people say it's not worth money, it won't be.
It's not a currency in any meaningful sense of the word. It's illiquid, difficult to use, costly, unstable, not widely adopted, and not legal tender in any country. Turns out it's kind of hard to invent a new monetary system to replace one that has evolved over thousands of years, that works well and over which the government has a monopoly. Who could have seen that coming?
Go ahead and degen it up, but don't think that you're doing anything more than that.
I know nothing about Bitcoin, not a thing other than its a math algorithm that for whatever reason 1% of the world's population is fascinated with. The market cap is still less than Apple. Not going to end well for anyone, this reminds me of the late 90s where companies with no earnings went into the billions overnight. I take a chance on things every now and again, but this is truly absurd. Staying away from this one.
They are devaluing the dollar.Quote:
Originally Posted by gimmick
Bitcoin may or may not be the safe haven. It's not final yet. The devaluing of the currency is final.
HFSP if you don't see this and take measures to protect whatever wealth you might have.
The thesis/use case changed. It sucks for commerce but is it a hedge against the money machine printing dollars non stop?Quote:
Originally Posted by Dan DruffCorrect!Quote:
Originally Posted by gimmick
Everything that was said about bitcoin and its advantage over fiat currency turned out not to be true, as time passed. Small transactions are expensive. It's not good for e-commerce (except gambling). As you said, it's not anonymous.
It's worth money because people say it's worth money, and then when people say it's not worth money, it won't be.
Anyone whom believes it's not can win a lot of $$ betting against it.
I do not know if it is the safe harbor from the inescapable death of our fiat currency. What I do know is that all fiat currency dies and the new thesis is Bitcoin is sound money.
I am amazed at how many allegedly smart people can't break out of their info/thought bubble and at least consider this is a possibility, then argue for or against.
They are inflating the money supply. $10 gallon of milk is coming. Open your eyes. Maybe BTC is the proper way to store wealth and hedge against inflation, or maybe it's real estate and precious metals. But to act like this has already played out is pretty fucking ignorant and to be honest, really fucking expensive for anyone that didn't dip their beak.
There are at least 2 people crypto billionaires in poker. If might be time to consider they were right.
By the time Micon got interested in bitcoin (2011), it was in the final days in our friendship, and things were already starting to get strained. By that point we weren't talking as much, so his mentions to me about bitcoin were only in passing. I understood what it was, and the tech behind it, but he never made a serious pitch to me to buy any.Quote:
Originally Posted by gimmick
However, by then I had also seen tons of other obsessions of his go nowhere, so I wasn't likely to take him seriously anyway. Everything to him in the 2000s was a get-rich-quick scheme, and he embraced nearly any online fad he ran into.
Even neverwinpoker was a get rich quick scheme. As I've stated many times before, Dustin ran it up quickly on Stars and became a source of public fascination during the then-exploding poker boom. This was in 2004. So Micon told Dustin they should quickly slap up a site to promote him, Micon didn't even have much of a plan. There were no affiliate deals -- just a horrible Cafepress store selling ugly shirts and hats -- and a forum which was supposed to be for "discussing neverwin's play" (lol). It only became notable because I showed up to mock the whole thing, and because there was incoming traffic due to people's curiosity about Dustin. Then we kinda just stumbled onto notoriety because we became the anti-2+2, due to being censorship-free.
Anyway, had Micon not been so flaky and prone to following online fads, I would have taken the BTC thing way more seriously, and probably bought some. However, I'm not going to pretend I'd have hung on until now and made a billion dollars. I likely would have dropped them when they hit $80 and thought I made a killing.
I will say that Micon also embraced the bitcoin community because it was a chance to cultivate a new reputation. He decided he wanted respect, and no longer enjoyed being the clown everyone laughed at.
In poker, this was no longer possible. Between his longtime immature behavior and various enemies he had accumulated over the years, he was never going to be a highly respected figure in poker.
In bitcoin, he was an early adopter and also "ran" Seals, so he was able to posture as an expert. He was taken a lot more seriously in that world, and he dropped the "look at how outrageous I am" act. There were no more videos of him pissing in a cup in a hotel room. Presumably he wanted this changed image because he was getting older, and it was less appealing to be the class clown past age 30.