Lol, mining doesnt eat up 1/20th the resources as AI or even running the lights on the vegas strip. I still like to use cash and i dont transact in BTC or ETH (lr rarely do) but I do see the potential for these networks being the base layer for whats coming down the road.nein51 said:muddybrazos said:I get what you are saying but you're just lumping all crypto in to one big pot. Meme coins are 100% gambling with no real world use cases but there are coins that have networks and real use cases. Ethereum, Solana, Chainlink, Internet Computer are all networks that are going to be the backbone of web3. All of these memcoins, online gaming etc work on these networks. Chainlink is used by Swift, DTC, Jp morgan Chase, Goldman, Blackrock etc to move money from the real world to the blockchain. The entire stock market will be digitized and run 24/7 like the crypto markets before too long. That cant happen without the use of Chainlink.nein51 said:boognish_bear said:
I'm surprised it's even that highFUN FACT: Less than 7% of the global population is invested in crypto.
— Watcher.Guru (@WatcherGuru) December 22, 2024
That's because it's a 100% speculative investment. Crypto isn't "worth" anything. If you get past BTC and look at junk coins like Doge the metrics are terrible.
For most people owning crypto is like playing the lottery. It doesn't cost very much and there's a .00000000001% chance you get rich owning it.
Of all investments I would guess that crypto owners are the least investment savvy.
Go back and read what I said at the top.
Blockchain is real technology and a real advance.
Bitcoin and ETH (etc) are, in fact great, in developing countries and for black market transactions but they are so far from being "money" it's not even funny. The mining also eats up untold resources across the globe and professional mining groups are essentially the only people that can make that work these days. .01% of wallets account for 60% of BTC. When you look at who owns the rest (of what isn't anonymous) it's almost exclusively large investment firms.
The remainder of **** coins are basically exactly that.
Finally, if there's any real value long term it's going to be CBDCs which are the devil for many reasons
Is Bitcoin and Crypto the Black Jack Table on Steroids?
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102 Replies |
Last: 1 day ago by muddybrazos
muddybrazos said:Lol, mining doesnt eat up 1/20th the resources as AI or even running the lights on the vegas strip. I still like to use cash and i dont transact in BTC or ETH (lr rarely do) but I do see the potential for these networks being the base layer for whats coming down the road.nein51 said:muddybrazos said:I get what you are saying but you're just lumping all crypto in to one big pot. Meme coins are 100% gambling with no real world use cases but there are coins that have networks and real use cases. Ethereum, Solana, Chainlink, Internet Computer are all networks that are going to be the backbone of web3. All of these memcoins, online gaming etc work on these networks. Chainlink is used by Swift, DTC, Jp morgan Chase, Goldman, Blackrock etc to move money from the real world to the blockchain. The entire stock market will be digitized and run 24/7 like the crypto markets before too long. That cant happen without the use of Chainlink.nein51 said:boognish_bear said:
I'm surprised it's even that highFUN FACT: Less than 7% of the global population is invested in crypto.
— Watcher.Guru (@WatcherGuru) December 22, 2024
That's because it's a 100% speculative investment. Crypto isn't "worth" anything. If you get past BTC and look at junk coins like Doge the metrics are terrible.
For most people owning crypto is like playing the lottery. It doesn't cost very much and there's a .00000000001% chance you get rich owning it.
Of all investments I would guess that crypto owners are the least investment savvy.
Go back and read what I said at the top.
Blockchain is real technology and a real advance.
Bitcoin and ETH (etc) are, in fact great, in developing countries and for black market transactions but they are so far from being "money" it's not even funny. The mining also eats up untold resources across the globe and professional mining groups are essentially the only people that can make that work these days. .01% of wallets account for 60% of BTC. When you look at who owns the rest (of what isn't anonymous) it's almost exclusively large investment firms.
The remainder of **** coins are basically exactly that.
Finally, if there's any real value long term it's going to be CBDCs which are the devil for many reasons
Right, potential, so the value at present is speculative
I have about $30k in IBIT and a leap for a year from now. It's a trade, not an investment. I will sell calls against it throughout the year to get some income in the meantime.
I just bought $10k worth of ETHA today for a short term mean reversion trade.
I just bought $10k worth of ETHA today for a short term mean reversion trade.
Ive been doing the same but with miner CLSK. Miners have weekly options so thats been pretty fun. I may move some money into YBTC which is a covered call etf for BTC that distributes weekly.hodedofome said:
I have about $30k in IBIT and a leap for a year from now. It's a trade, not an investment. I will sell calls against it throughout the year to get some income in the meantime.
I just bought $10k worth of ETHA today for a short term mean reversion trade.
— Cydel (@cydelmg) December 23, 2024
For me, it's simple:
Never put your hard-earned money into anything you do not understand, especially the risk in doing so.
Anyone who tells you that [ ] Cannot fail is lying to you and anyone unwilling/ unable to explain your risk should be treated as a con man.
Never put your hard-earned money into anything you do not understand, especially the risk in doing so.
Anyone who tells you that [ ] Cannot fail is lying to you and anyone unwilling/ unable to explain your risk should be treated as a con man.
That which does not kill me, will try again and get nastier
JUST IN: 🇷🇺 Russia announces 6-year ban on cryptocurrency mining in 10 regions, citing energy shortages.
— Watcher.Guru (@WatcherGuru) December 24, 2024
Go Bears!
🎄 Bitcoin Price on Christmas
— Watcher.Guru (@WatcherGuru) December 25, 2024
2010: $0.25
2011: $4
2012: $13
2013: $682
2014: $319
2015: $456
2016: $896
2017: $14,027
2018: $3,815
2019: $7,275
2020: $24,665
2021: $50,430
2022: $16,831
2023: $43,665
2024: $98,200
JUST IN: 🇷🇺 Russia says it's using bitcoin to evade sanctions. pic.twitter.com/y8zLFJmbEr
— Watcher.Guru (@WatcherGuru) December 26, 2024
No. Way. Shocked I tell you. Shocked.
muddybrazos said:That is one of the dumbest boomer takes yet and youre not even a boomer. Go read up on BTC then come back when you know what you're talking about.The_barBEARian said:
Bitcoin is used by political class and private equity groups to launder money and avoid the IRS.
It should be illegal for any bank receiving US tender from the federal reserve to exchange USD for crypto with any crypto exchange
Cypto is just a new word for fiat currency.
It has all the same problems but is even more easily controlled and manipulated by the globalists.
Gold and silver are by no means perfect, but they have inherent value and are the best hedge against the inevitable economic depression our generation will endure.
0.0000
$24.......
D!
- KKM
Go Bears!
Happy New Year!!
{ sipping coffee }
Go Bears!
Gold and silver dont have a finite supply and bitcoind does.The_barBEARian said:muddybrazos said:That is one of the dumbest boomer takes yet and youre not even a boomer. Go read up on BTC then come back when you know what you're talking about.The_barBEARian said:
Bitcoin is used by political class and private equity groups to launder money and avoid the IRS.
It should be illegal for any bank receiving US tender from the federal reserve to exchange USD for crypto with any crypto exchange
Cypto is just a new word for fiat currency.
It has all the same problems but is even more easily controlled and manipulated by the globalists.
Gold and silver are by no means perfect, but they have inherent value and are the best hedge against the inevitable economic depression our generation will endure.
muddybrazos said:Gold and silver dont have a finite supply and bitcoind does.The_barBEARian said:muddybrazos said:That is one of the dumbest boomer takes yet and youre not even a boomer. Go read up on BTC then come back when you know what you're talking about.The_barBEARian said:
Bitcoin is used by political class and private equity groups to launder money and avoid the IRS.
It should be illegal for any bank receiving US tender from the federal reserve to exchange USD for crypto with any crypto exchange
Cypto is just a new word for fiat currency.
It has all the same problems but is even more easily controlled and manipulated by the globalists.
Gold and silver are by no means perfect, but they have inherent value and are the best hedge against the inevitable economic depression our generation will endure.
You mean until it halves again?
Halving means the supply yet to be mined is cut in half. The supply is already set at 21 million and of that maybe 5-6 million is already lost.nein51 said:muddybrazos said:Gold and silver dont have a finite supply and bitcoind does.The_barBEARian said:muddybrazos said:That is one of the dumbest boomer takes yet and youre not even a boomer. Go read up on BTC then come back when you know what you're talking about.The_barBEARian said:
Bitcoin is used by political class and private equity groups to launder money and avoid the IRS.
It should be illegal for any bank receiving US tender from the federal reserve to exchange USD for crypto with any crypto exchange
Cypto is just a new word for fiat currency.
It has all the same problems but is even more easily controlled and manipulated by the globalists.
Gold and silver are by no means perfect, but they have inherent value and are the best hedge against the inevitable economic depression our generation will endure.
You mean until it halves again?
So they are only going to produce 21 million Bitcoins? My question from day 1 has been who the Heck is they?muddybrazos said:Halving means the supply yet to be mined is cut in half. The supply is already set at 21 million and of that maybe 5-6 million is already lost.nein51 said:muddybrazos said:Gold and silver dont have a finite supply and bitcoind does.The_barBEARian said:muddybrazos said:That is one of the dumbest boomer takes yet and youre not even a boomer. Go read up on BTC then come back when you know what you're talking about.The_barBEARian said:
Bitcoin is used by political class and private equity groups to launder money and avoid the IRS.
It should be illegal for any bank receiving US tender from the federal reserve to exchange USD for crypto with any crypto exchange
Cypto is just a new word for fiat currency.
It has all the same problems but is even more easily controlled and manipulated by the globalists.
Gold and silver are by no means perfect, but they have inherent value and are the best hedge against the inevitable economic depression our generation will endure.
You mean until it halves again?
The anonymous little Japanese guy in the basement? Sorry, but I remain skeptical.
Bitcoin, $Trumpcoin, or $Fartcoin? That is the question.
That point is the 'pay no attention to the man behind the curtain' element.RD2WINAGNBEAR86 said:So they are only going to produce 21 million Bitcoins? My question from day 1 has been who the Heck is they?muddybrazos said:Halving means the supply yet to be mined is cut in half. The supply is already set at 21 million and of that maybe 5-6 million is already lost.nein51 said:muddybrazos said:Gold and silver dont have a finite supply and bitcoind does.The_barBEARian said:muddybrazos said:That is one of the dumbest boomer takes yet and youre not even a boomer. Go read up on BTC then come back when you know what you're talking about.The_barBEARian said:
Bitcoin is used by political class and private equity groups to launder money and avoid the IRS.
It should be illegal for any bank receiving US tender from the federal reserve to exchange USD for crypto with any crypto exchange
Cypto is just a new word for fiat currency.
It has all the same problems but is even more easily controlled and manipulated by the globalists.
Gold and silver are by no means perfect, but they have inherent value and are the best hedge against the inevitable economic depression our generation will endure.
You mean until it halves again?
The anonymous little Japanese guy in the basement? Sorry, but I remain skeptical.
The big complaint against fiat currency I hear, is how we cannot trust the government to control the money supply, which is true. But the idea that the solution is to trust an anonymous group with unknown motives/weaknesses, that's laughably stupid.
That which does not kill me, will try again and get nastier
I suppose the question then is who can you trust. You gotta eventually trust something in order to make a bet.
Yes, there will only ever be 21 million. Its programmed into the network and is not changeable.RD2WINAGNBEAR86 said:So they are only going to produce 21 million Bitcoins? My question from day 1 has been who the Heck is they?muddybrazos said:Halving means the supply yet to be mined is cut in half. The supply is already set at 21 million and of that maybe 5-6 million is already lost.nein51 said:muddybrazos said:Gold and silver dont have a finite supply and bitcoind does.The_barBEARian said:muddybrazos said:That is one of the dumbest boomer takes yet and youre not even a boomer. Go read up on BTC then come back when you know what you're talking about.The_barBEARian said:
Bitcoin is used by political class and private equity groups to launder money and avoid the IRS.
It should be illegal for any bank receiving US tender from the federal reserve to exchange USD for crypto with any crypto exchange
Cypto is just a new word for fiat currency.
It has all the same problems but is even more easily controlled and manipulated by the globalists.
Gold and silver are by no means perfect, but they have inherent value and are the best hedge against the inevitable economic depression our generation will endure.
You mean until it halves again?
The anonymous little Japanese guy in the basement? Sorry, but I remain skeptical.
Says who?muddybrazos said:Yes, there will only ever be 21 million. Its programmed into the network and is not changeable.RD2WINAGNBEAR86 said:So they are only going to produce 21 million Bitcoins? My question from day 1 has been who the Heck is they?muddybrazos said:Halving means the supply yet to be mined is cut in half. The supply is already set at 21 million and of that maybe 5-6 million is already lost.nein51 said:muddybrazos said:Gold and silver dont have a finite supply and bitcoind does.The_barBEARian said:muddybrazos said:That is one of the dumbest boomer takes yet and youre not even a boomer. Go read up on BTC then come back when you know what you're talking about.The_barBEARian said:
Bitcoin is used by political class and private equity groups to launder money and avoid the IRS.
It should be illegal for any bank receiving US tender from the federal reserve to exchange USD for crypto with any crypto exchange
Cypto is just a new word for fiat currency.
It has all the same problems but is even more easily controlled and manipulated by the globalists.
Gold and silver are by no means perfect, but they have inherent value and are the best hedge against the inevitable economic depression our generation will endure.
You mean until it halves again?
The anonymous little Japanese guy in the basement? Sorry, but I remain skeptical.
Bitcoin, $Trumpcoin, or $Fartcoin? That is the question.
Pretty sure it can be changed, but it may be something where the network is down for a while.
I'm going to shamelessly plug this in here.https://t.co/mlB86dxwjr
— ⚡️Jefferson ⚡️ (@BurnTheFed) January 8, 2025
JUST IN: 🇨🇳 China plans to integrate blockchain technology into its national data infrastructure, aiming for full implementation by 2029. pic.twitter.com/os6BEv26wx
— BRICS News (@BRICSinfo) January 9, 2025
JUST IN: 🇺🇸 US government cleared to sell 69,370 #bitcoin worth $6.5 billion seized from Silk Road, a federal judge ruled. pic.twitter.com/dGB7S9iO8T
— Bitcoin Magazine (@BitcoinMagazine) January 9, 2025
Looks like Joe's handlers may try and dump all this BTC that the US already seized so that Trump cant add it to his strategic reserves.
Yeah how much of that seized BTC is gonna be sold for $1 to the Joe Biden family trust.
Don't worry. The little Japanese guy in the basement will make more Bitcoins! Bitcoins for EVERYONE!!!!hodedofome said:
Yeah how much of that seized BTC is gonna be sold for $1 to the Joe Biden family trust.
Bitcoin, $Trumpcoin, or $Fartcoin? That is the question.
JUST IN: Bitcoin falls under $88,000 for the first time since November, 2024.
— Watcher.Guru (@WatcherGuru) February 25, 2025
JUST IN: 🇺🇸 President Trump's son Eric Trump says "₿uy the dips." pic.twitter.com/W6uBaYl4VE
— Watcher.Guru (@WatcherGuru) February 25, 2025
The Trump boys seem much more interested in peddling gold and Bitcoin than the strength of the U.S. dollar, which is very unfortunate.
Bitcoin, $Trumpcoin, or $Fartcoin? That is the question.
You should buy the dip. We're going to 125k on the next leg up.RD2WINAGNBEAR86 said:
The Trump boys seem much more interested in peddling gold and Bitcoin than the strength of the U.S. dollar, which is very unfortunate.
Go for it, muddy. I think folks that have money to burn on cryptocurrency, Memecoins, etc. are still a great barometer on the economy. If people still have disposable money to burn, then we're good.muddybrazos said:You should buy the dip. We're going to 125k on the next leg up.RD2WINAGNBEAR86 said:
The Trump boys seem much more interested in peddling gold and Bitcoin than the strength of the U.S. dollar, which is very unfortunate.
Bitcoin, $Trumpcoin, or $Fartcoin? That is the question.
BREAKING:
— Ash Crypto (@Ashcryptoreal) March 2, 2025
🇺🇸TRUMPS JUST STATED THAT BITCOIN AND ETH WILL ALSO BE PART OF THE STRATEGIC RESERVE.
MASSIVE NEWS 🚀 pic.twitter.com/7027gFcODL
Trump is pumping our bags!