Bitcoin

Dole ver 2.0 said:
While I'm not 100% sold on Bitcoin as a securearble asset, the devaluation argument on fiat money is compelling. It's like money is dissolving in value for no reason, but the people with hard assets get immediate appreciation. Pure fucking evil.

My instincts have always been to acquire more and more of the fiat money but to spend as little as possible. This may not be susatainable.
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As soon as you understand just how evil the system in its design to maintain the status quo of "the rich get richer..." and how #BitcoinFixesThis and then you understand the flawless engineering of Bitcoin and the implication of 21,000,000 - you are sold. That's when you've been orange-pilled and at the expense of sounding dramatic, it's the most profound realization I've had, maybe ever.

It's liberated me from so much distracting bullshit. My focus is turning as much fiat into as much Bitcoin as possible and I'm fortunate because when I orange-pilled my wife, she saw it and gave me the greenlight.

I highly encourage you to read The Bitcoin Standard then Check Your Financial Privilege and to watch as many videos of Michael Saylor as you can because he stays laser-focused on productive discussion of the benefits of Bitcoin in a world of purposeful devaluation of currency in an effort to keep the global financial institutions in power.

Bitcoin changes literally everything. It is perfectly engineered currency.
 
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dbldwn711 said:
I’m not sure it will replace the dollar as the world currency
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I'm convinced that it's inevitable and that adoption is not linear. Reaching 1% adoption will be the halfway point, then it'll go really, really quick. Like Saylor said in that video with Mooch and Yusko and those guys, all it's going to take is some sovereign wealth fund or petrodollar accounts or someone like Apple to sweep billions of cashflow into Bitcoin or a succession of developing nations or one major nation (like Russia) to adopt Bitcoin as legal tender and it'll go really quick. Maybe in days.

44 nations with weak or no national currency just went to El Salvador and got orange-pilled by Bukele. It took 13 years for the first nation to adopt it as legal tender, then 9 months for the next. Who's next? Senegal? Panama? Honduras?

Putin says "you want Russian exports, we want Bitcoin." A major petrodollar fund sweeps into Bitcoin and suddenly thousands of Bitcoin per day evaporate from the supply.

That criminal Do Kwon just dumped 5,000 Bitcoin on the market and Bitcoin stood rock solid. We've been in the longest loading zone of accumulation in Bitcoin history and filling these CME gaps and shaking out weak hands is so healthy for the currency. Adoption is up, Lightning network innovation and expansion is up, retail is up and in 2024 new minting will be halved.

This is easily the biggest no-brainer since gold. Decide today how much your conviction is in Bitcoin and hedge your weakening dollars against that conviction. 25% sure it goes up? Put 25% of your net worth in Bitcoin. 1% sure? Put 1% of your net worth in Bitcoin.
 
HammerDown said:
I'm convinced that it's inevitable and that adoption is not linear. Reaching 1% adoption will be the halfway point, then it'll go really, really quick. Like Saylor said in that video with Mooch and Yusko and those guys, all it's going to take is some sovereign wealth fund or petrodollar accounts or someone like Apple to sweep billions of cashflow into Bitcoin or a succession of developing nations or one major nation (like Russia) to adopt Bitcoin as legal tender and it'll go really quick. Maybe in days.

44 nations with weak or no national currency just went to El Salvador and got orange-pilled by Bukele. It took 13 years for the first nation to adopt it as legal tender, then 9 months for the next. Who's next? Senegal? Panama? Honduras?

Putin says "you want Russian exports, we want Bitcoin." A major petrodollar fund sweeps into Bitcoin and suddenly thousands of Bitcoin per day evaporate from the supply.

That criminal Do Kwon just dumped 5,000 Bitcoin on the market and Bitcoin stood rock solid. We've been in the longest loading zone of accumulation in Bitcoin history and filling these CME gaps and shaking out weak hands is so healthy for the currency. Adoption is up, Lightning network innovation and expansion is up, retail is up and in 2024 new minting will be halved.

This is easily the biggest no-brainer since gold. Decide today how much your conviction is in Bitcoin and hedge your weakening dollars against that conviction. 25% sure it goes up? Put 25% of your net worth in Bitcoin. 1% sure? Put 1% of your net worth in Bitcoin.
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If you’re right and the US dollar loses its world currency status then this country is fucked. If all commodities get traded in Bitcoin then you’re right about it’s value skyrocketing. I would be impressed if it simply became A currency rather than THE currency.
 
dbldwn711 said:
If you’re right and the US dollar loses its world currency status then this country is fucked. If all commodities get traded in Bitcoin then you’re right about it’s value skyrocketing. I would be impressed if it simply became A currency rather than THE currency.
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It’s already in the top twenty global currencies by market cap. Putin wants Bitcoin, not rubles, not dollars.

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lol That's the problem - you can't look to hedge for currency with an asset that's so volatile. The currency flux is tiny compared to the crypto.

www.wealthmanagement.com

Roubini: Stay Away From Crypto

During a talk at WealthManagement EDGE, NYU Stern School of Business Professor of Economics Nouriel Roubini questioned whether cryptocurrencies should be considered currencies at all.
www.wealthmanagement.com www.wealthmanagement.com

Roubini said his skepticism was based on several factors, including that scams and money manipulation were far too prevalent among crypto options. He also stressed that hedging with crypto wouldn’t suffice in an inflationary environment, remarking that as inflation worries have risen, Bitcoin, Ethereum and other cryptocurrencies’ values were collapsing by more than half. Roubini also believed cryptocurrencies were far too heavily correlated with risky assets.

Even a description of cryptocurrency as a currency was a “misnomer,” according to Roubini, who argued that nobody was pricing goods or services in Bitcoin and Ethereum, among others. Crypto’s scalability remained an issue, with Roubini claiming bitcoin can only process five transactions per second. Those accepting it as a means of payment also are taking an undue risk, he argued.

“Suppose you had a profit margin of 10 to 15%,” he said. “Overnight, bitcoin can fall by 10 to 15%. Your margin is going to be essentially wiped out, so you’re taking a huge market risk.”
 
JuiceTheGator said:
lol That's the problem - you can't look to hedge for currency with an asset that's so volatile. The currency flux is tiny compared to the crypto.

www.wealthmanagement.com

Roubini: Stay Away From Crypto

During a talk at WealthManagement EDGE, NYU Stern School of Business Professor of Economics Nouriel Roubini questioned whether cryptocurrencies should be considered currencies at all.
www.wealthmanagement.com www.wealthmanagement.com

Roubini said his skepticism was based on several factors, including that scams and money manipulation were far too prevalent among crypto options. He also stressed that hedging with crypto wouldn’t suffice in an inflationary environment, remarking that as inflation worries have risen, Bitcoin, Ethereum and other cryptocurrencies’ values were collapsing by more than half. Roubini also believed cryptocurrencies were far too heavily correlated with risky assets.

Even a description of cryptocurrency as a currency was a “misnomer,” according to Roubini, who argued that nobody was pricing goods or services in Bitcoin and Ethereum, among others. Crypto’s scalability remained an issue, with Roubini claiming bitcoin can only process five transactions per second. Those accepting it as a means of payment also are taking an undue risk, he argued.

“Suppose you had a profit margin of 10 to 15%,” he said. “Overnight, bitcoin can fall by 10 to 15%. Your margin is going to be essentially wiped out, so you’re taking a huge market risk.”
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You’re equating shitcoin and Bitcoin.

That opinion is based upon trading Bitcoin. You don’t trade Bitcoin; you buy it and never sell it. Buy based upon your conviction. If the future is the USD, don’t buy Bitcoin.

You’re also pricing Bitcoin in dollars. How about the other way around.

One asset is huperflationary. The other is finite and progressively less deflationary, dropping by half again in 2024.

There is no better protection from inflation than trading fiat for Bitcoin.

A year from now a dollar will be worth about .89
 
HammerDown said:
You’re equating shitcoin and Bitcoin.

That opinion is based upon trading Bitcoin. You don’t trade Bitcoin; you buy it and never sell it. Buy based upon your conviction. If the future is the USD, don’t buy Bitcoin.

You’re also pricing Bitcoin in dollars. How about the other way around.

One asset is huperflationary. The other is finite and progressively less deflationary, dropping by half again in 2024.

There is no better protection from inflation than trading fiat for Bitcoin.

A year from now a dollar will be worth about .89
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Well no. Roubini is a dipshit, but he makes some sense here. He's saying if you do a transaction and need to hedge currency, the price of BTC will probably move more than the currency during that time. So, you're not really removing risk. During a couple day hedge, BTC might move 3% + while the currency moves in tiny amounts for the short term.
 
JuiceTheGator said:
Well no. Roubini is a dipshit, but he makes some sense here. He's saying if you do a transaction and need to hedge currency, the price of BTC will probably move more than the currency during that time. So, you're not really removing risk. During a couple day hedge, BTC might move 3% + while the currency moves in tiny amounts for the short term.
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A couple day timeframe? Come on, man. We’re talking about hedging inflation, not scalping an asset.

So the argument is that in any give 48 hr period Bitcoin may increase in price less than inflation? That’s bullshit.

Bitcoin is the best-performing asset of the last decade.

 
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