BufferBear Bitcoin Bull Posted June 2, 2021 Share Posted June 2, 2021 Humble pie. Interview (2:00+) with Fred Thiel, who failed to do his homework has acknowledged the importance of the Bitcoin community. Had no choice to backtrack in reality. Someone, Saylor, probably has a word in his hear. 🤔 Quote Link to comment Share on other sites More sharing options...
BufferBear Bitcoin Bull Posted June 2, 2021 Share Posted June 2, 2021 (edited) Edited June 2, 2021 by Buffer Bear Quote Link to comment Share on other sites More sharing options...
Peter Hun Posted June 2, 2021 Share Posted June 2, 2021 He's got laser beam eyes, let's invest our life saving... Quote Link to comment Share on other sites More sharing options...
Save me from the madness! Posted June 2, 2021 Share Posted June 2, 2021 10 hours ago, markyh said: No, shitcoiners will be the first people we rain genocide on. Trade it for BTC. DCA in, you know it's the only way. I could DCA in for a lifetime, investing a % of my wages far in advance of many of the big BTC holders on this thread and still not own 10 BTC, so going back to the original comment from Dorkins, Quote I thought BTC was meant to be a technology to liberate people from the current financial elite, this seems to be saying it's just going to replace one financial elite with another. There is a ring of truth to this. The consolation for the later entrants is that at least the BTC supply rules can't be changed on a whim by the Governbankment, but that doesn't mean BTC can't be massively manipulated by them. Imagine if the US government decided to spend just a small fraction of its budget secretly becoming a whale and buying and dumping BTC repeatedly? I expect after 6 months of random massive volatility most retail clients be sick of it and leave the market. Quote Link to comment Share on other sites More sharing options...
Huggy Posted June 2, 2021 Share Posted June 2, 2021 54 minutes ago, Save me from the madness! said: I could DCA in for a lifetime, investing a % of my wages far in advance of many of the big BTC holders on this thread and still not own 10 BTC, so going back to the original comment from Dorkins, There is a ring of truth to this. The consolation for the later entrants is that at least the BTC supply rules can't be changed on a whim by the Governbankment, but that doesn't mean BTC can't be massively manipulated by them. Imagine if the US government decided to spend just a small fraction of its budget secretly becoming a whale and buying and dumping BTC repeatedly? I expect after 6 months of random massive volatility most retail clients be sick of it and leave the market. You don't need to own 10 BTC. One should do you for the rest of your life, and you will still have enough spare for several salty no coiners to cut your grass and polish your shoes. Quote Link to comment Share on other sites More sharing options...
goldbug9999 Posted June 2, 2021 Share Posted June 2, 2021 (edited) 20 hours ago, dannyf said: I have also found very intelligent technically minded people (in software development) vehemently against bitcoin. This is relevant I think: https://www.citadel21.com/why-the-yuppie-elite-dismiss-bitcoin Essentially it says that to be a believer in bitcoin, in spite of intelligence/technical understanding, you really need to be distrusting of, or to have lost out to the current financial system (something that should be familiar to people who found themselves on a HPC forum...) There is no deep understanding required really. A couple of initially non-intuitive things like there being no central point of failure, no "master switch", plus the idea that there is no essential difference between being 10% backed by commodity value (e.g. gold) and 0%, either way the value is primarily speculative. The final thing is issuance rate: exponential for fiat, vs linear for gold vs logarithmic for bitcoin. To paraphrase the engineer in the Titanic "that bitcoin will eventually be more valuable that anything with a higher issuance rate is a mathematical certainty". Nothing that any moderately intelligent person cant grasp fairly quickly. So as I said before rejection of the idea is not down to a lack of understanding, in 99% cases its just jealousy, jealousy of the really smart people who came up with the idea and jealousy of those that got in early and made big gains. Edited June 2, 2021 by goldbug9999 Quote Link to comment Share on other sites More sharing options...
BufferBear Bitcoin Bull Posted June 2, 2021 Share Posted June 2, 2021 A target for the salty no-coiners (take note, I do not say no-coiners) wet sponges? Quote Link to comment Share on other sites More sharing options...
BufferBear Bitcoin Bull Posted June 2, 2021 Share Posted June 2, 2021 4 hours ago, Peter Hun said: He's got laser beam eyes, let's invest our life saving... I wouldn't do that if I were you. Quote Link to comment Share on other sites More sharing options...
Jonesy74 Posted June 2, 2021 Share Posted June 2, 2021 1 hour ago, goldbug9999 said: There is no deep understanding required really. A couple of initially non-intuitive things like there being no central point of failure, no "master switch", plus the idea that there is no essential difference between being 10% backed by commodity value (e.g. gold) and 0%, either way the value is primarily speculative. The final thing is issuance rate: exponential for fiat, vs linear for gold vs logarithmic for bitcoin. To paraphrase the engineer in the Titanic "that bitcoin will eventually be more valuable that anything with a higher issuance rate is a mathematical certainty". Nothing that any moderately intelligent person cant grasp fairly quickly. So as I said before rejection of the idea is not down to a lack of understanding, in 99% cases its just jealousy, jealousy of the really smart people who came up with the idea and jealousy of those that got in early and made big gains. I get your point and that’s definitely a big part of it. But there are also those who understand it, aren’t jealous, and simply do not see any value to it so do see it as a big waste of energy. They don’t see any value in it because they see nothing wrong with the current fiat system. I think you have to take issue with the current fiat system to be driven to things like gold or bitcoin. Most people earning good money under a fiat system aren’t really going to see any need for something else. Personally I’m on decent money but London house prices and the government response in 2008 with QE drove me “down the rabbit hole” Quote Link to comment Share on other sites More sharing options...
BufferBear Bitcoin Bull Posted June 2, 2021 Share Posted June 2, 2021 On 01/06/2021 at 01:55, MonsieurCopperCrutch said: @markyh Commissioned by @markyh On 31/05/2021 at 23:09, MonsieurCopperCrutch said: The best investment vehicle of the last decade bar none and it's laughably overhyped. 🤣🤣🤣🤣 Bitcoin’s 9,000,000% Rise This Decade Leaves the Skeptics Aghast @MonsieurCopperCrutch Forever amusing when you drop in the facts at key moments... On 01/06/2021 at 09:13, markyh said: Nice to see i will be living in the top half of the Citadel! And me at the bottom! I will continue to stack... 22 hours ago, MonsieurCopperCrutch said: Firstly, The Citadel does not actually exist. Not yet anyway. Secondly, no one stops anyone else from joining this new elite. Thirdly, this new elite would be more open, transparent, and fair. No need to fund illegal wars etc. Gud to see that I’d be in the upper echelons though. 😀 You will be hanging out with the Russians and Chinese who probably own billions. Not to worry, you'll have Matt Odell et al to rein them in 🤔😁 13 minutes ago, dannyf said: Personally I’m on decent money but London house prices and the government response in 2008 with QE drove me “down the rabbit hole” #CANRELATE! But wish I had cottoned on sooner. Quote Link to comment Share on other sites More sharing options...
scottbeard Posted June 2, 2021 Share Posted June 2, 2021 On 01/06/2021 at 08:00, Frugal Git said: I hope this is considered on topic, but curious of others experiences of this. If you work in tech, or know lots of people who do, do you find that almost overwhelmingly people *hate* crypto in general, and there’s just a few of us outliers? where I work, and on the numerous tech forums I frequent the comments are almost always utterly negative. I don't work in tech, but I work in finance (pensions) and most people seem to just not even understand what Crypto is - or care. Although I also suspect some of them (1) are more than smart enough to have in fact bought some and (2) are equally smart enough not to make themselves a target for robbery by blurting out to 100 people in the office "oh yeah I have £100,000 in Bitcoin". I have explained to colleagues who have been curious what it is, but I wouldn't tell them whether I had any, any more than I would go through with them what's in my ISAs. Quote Link to comment Share on other sites More sharing options...
MonsieurCopperCrutch Posted June 2, 2021 Share Posted June 2, 2021 Quote Link to comment Share on other sites More sharing options...
BufferBear Bitcoin Bull Posted June 2, 2021 Share Posted June 2, 2021 2 hours ago, MonsieurCopperCrutch said: 😂 Quote Link to comment Share on other sites More sharing options...
BufferBear Bitcoin Bull Posted June 2, 2021 Share Posted June 2, 2021 Waiting for those who believe BTC is a Ponzi scheme to admit it is not. At least Standard Charter agrees. Quote Link to comment Share on other sites More sharing options...
yelims Posted June 2, 2021 Share Posted June 2, 2021 (edited) 3 hours ago, scottbeard said: I don't work in tech, but I work in finance (pensions) and most people seem to just not even understand what Crypto is - or care. Although I also suspect some of them (1) are more than smart enough to have in fact bought some and (2) are equally smart enough not to make themselves a target for robbery by blurting out to 100 people in the office "oh yeah I have £100,000 in Bitcoin". I have explained to colleagues who have been curious what it is, but I wouldn't tell them whether I had any, any more than I would go through with them what's in my ISAs. Good post yep just don’t tell people how much you own, nothing to be gained by blabbing. Tho some close friends can guess as bought shit like pizzas at parties for couple coins here and there many years back and suddenly completely stopped talking about crypto while top of range cars appear in driveway and exotic holidays here and there. I switched to talking about stocks instead, people understand that and being in tech I am interested in a few companies as is. Edited June 2, 2021 by yelims Quote Link to comment Share on other sites More sharing options...
dugsbody Posted June 2, 2021 Share Posted June 2, 2021 28 minutes ago, Buffer Bear said: Waiting for those who believe BTC is a Ponzi scheme to admit it is not. Why do you care? Quote Link to comment Share on other sites More sharing options...
MonsieurCopperCrutch Posted June 2, 2021 Share Posted June 2, 2021 18 minutes ago, dugsbody said: Why do you care? Why do you care she cares? Quote Link to comment Share on other sites More sharing options...
BufferBear Bitcoin Bull Posted June 2, 2021 Share Posted June 2, 2021 2 hours ago, dugsbody said: Why do you care? Why do you care? Quote Link to comment Share on other sites More sharing options...
BufferBear Bitcoin Bull Posted June 2, 2021 Share Posted June 2, 2021 Quote Link to comment Share on other sites More sharing options...
yelims Posted June 3, 2021 Share Posted June 3, 2021 Once again very impressed with kraken sold a small amount yesterday evening arrived this morning. Need pay remainder my giant capital gains bill this year. Quote Link to comment Share on other sites More sharing options...
MonsieurCopperCrutch Posted June 3, 2021 Share Posted June 3, 2021 36 minutes ago, yelims said: Once again very impressed with kraken sold a small amount yesterday evening arrived this morning. Need pay remainder my giant capital gains bill this year. Kraken rocks. 👍 Quote Link to comment Share on other sites More sharing options...
Huggy Posted June 3, 2021 Share Posted June 3, 2021 3 hours ago, MonsieurCopperCrutch said: Kraken rocks. 👍 I tried them out for the first time dipping my toes into ETH last week from recommendations here. Had to upload photo id twice and both were rejected, but then one got approved out of the blue. Apart from that little hiccup, no complaints. Quote Link to comment Share on other sites More sharing options...
yelims Posted June 3, 2021 Share Posted June 3, 2021 Two part podcast one of more popular podcasts in Ireland discussing crypto this week Quote Link to comment Share on other sites More sharing options...
MonsieurCopperCrutch Posted June 3, 2021 Share Posted June 3, 2021 10 minutes ago, yelims said: Two part podcast one of more popular podcasts in Ireland discussing crypto this week TL;DL? Quote Link to comment Share on other sites More sharing options...
MonsieurCopperCrutch Posted June 3, 2021 Share Posted June 3, 2021 Quote Link to comment Share on other sites More sharing options...
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