Bitcoins to the moon - Page 6

I made a post on Twitter in January to go 111 % BTC / 22 % ETH / 11 % SOL that made me look like a genius but timex made a good point recently. Are we just going all-in on SOL to then go all-in on BTC at "SOL top"? (This sort of stuff always seems a bit dramatic to me also) I never actually put any on SOL because I have been pretty busto all year but I think timex is on to something. I am probably incapable of actually doing the required due diligence to really dig deep here and I don't have any skin in the game besides HODL BTC so I don't really care THAT much... I mean obv I wanted to buy SOL @ $3 and didn't do it because I didn't really know and I had no money to invest. I still think BTC is hard as fuck and that we are still pretty fucking early.

Crypto about to experience it's first global financial crisis soon with the 2008 crisis repeating itself this time China being the source of it.

Hopefully it happens after December so the bull market can 'resolve' itself with a bigass pump into 150k BTC

There's a few reasons why i am not interested in BTC.

Its a zero sum game. No money is being produced by crypto. We already know there are tons of winners (people who bought before the 2020s). Logically, there will be losers. I have no idea when or why BTC will crash, but i highly doubt it will never happen. It reminds me of the 2000 bubble where a bunch of worthless companies were being inflated to the moon, and we know how that ended. I also think a some point the feds are going to want to compete with it with their own currency, or even outright regulate it. and the feds always win.

Who agrees with me? Well this dude: In 2018, legendary investor Warren Buffett told CNBC that “in terms of cryptocurrencies, generally, I can say with almost certainty that they will come to a bad ending.”

Of course, some people are really talented at trading it (like Smuft), i guess there's no problem with that if its working for you. But putting your networth in BTC and blindly holding it for 20 years i think is extremely risky.

Instead, i think the smartest play is to pump SPY whenever you can and hold forever. It won't make 1000% profits like the BTC guys made, but a steady 10% a year is really good and much much safer. I wish i started investing much earlier, especially back when i was making thousands at poker =/

[QUOTE]On October 17 2021 21:16 Floofy wrote:
There's a few reasons why i am not interested in BTC.

Its a zero sum game.

. It reminds me of the 2000 bubble where a bunch of worthless companies were being inflated to the moon, and we know how that ended/QUOTE]

First no it's not a zero sum game, you state it like a fact which it isn't.

I agree with the 2000 bubble, except that ended up being extremely good for humanity in the longterm and Amazon's market cap atm is about 1.5 trillion. Crypto tech mass adoption is where the industry wants to go. By investing in crypto you're basically saying you believe that such a thing will occur. Giving Buffet as an example is the most obvious authority bias ever, the guy said the computer and the internet will be dead super fast as well, does that make him a dumb investor? No it doesn't - it simply means he doesn't know it all and there is a reason he makes longterm safe investments and stays out of crypto-like markets.

All these big names calling for the fall of bitcoin yet none of them shorts it, why is that?

On October 17 2021 22:59 Spitfiree wrote: [QUOTE]On October 17 2021 21:16 Floofy wrote: There's a few reasons why i am not interested in BTC. Its a zero sum game. . It reminds me of the 2000 bubble where a bunch of worthless companies were being inflated to the moon, and we know how that ended/QUOTE] First no it's not a zero sum game, you state it like a fact which it isn't. I agree with the 2000 bubble, except that ended up being extremely good for humanity in the longterm and Amazon's market cap atm is about 1.5 trillion. Crypto tech mass adoption is where the industry wants to go. By investing in crypto you're basically saying you believe that such a thing will occur. Giving Buffet as an example is the most obvious authority bias ever, the guy said the computer and the internet will be dead super fast as well, does that make him a dumb investor? No it doesn't - it simply means he doesn't know it all and there is a reason he makes longterm safe investments and stays out of crypto-like markets. All these big names calling for the fall of bitcoin yet none of them shorts it, why is that?

If its not a zero sum game how does it produce profits? I am interested to know that. You said i am wrong but provided 0 explanations.

I think the reason people aren't shorting BTC is we have no idea WHEN it might crash. A bull run could easily continue for the next 10 years, we have no idea. I am absolutly not advising anybody to short it, i just wouldn't hold it for the long term like you would with SPY.

About the 2000 bubble, i was refering to the many companies which were essentially just .com websites and were worthless, producing 0 profits.


EDIT: After some googling, you are "right". It is not 0 sum. Miners sell their coins they're given for "free", driving down the value of BTC. So its more similar to poker where there is actually a "rake". So its worst than zero sum.

I'm not referring to BTC only and even BTC alone if you take it for it's tech is not a zero sum game. Which other technology allows for the transaction of a billion $ for a close-to-no fee?

There's plenty of tech out there which simplifies decades-old bureaucratic processes and makes them better. Since you want examples - Vechain, Polkadot, Cardano - you can research their use cases if you're interested, but I won't spend time explaining it when it's easily available for anyone to find out.

It's true, a good portion of those cryptocurrencies will die out with zero benefits. It seems like that is the natural development of emerging markets.

On October 18 2021 00:44 Floofy wrote: Show nested quote + On October 17 2021 22:59 Spitfiree wrote: [QUOTE]On October 17 2021 21:16 Floofy wrote: There's a few reasons why i am not interested in BTC. Its a zero sum game. . It reminds me of the 2000 bubble where a bunch of worthless companies were being inflated to the moon, and we know how that ended/QUOTE] First no it's not a zero sum game, you state it like a fact which it isn't. I agree with the 2000 bubble, except that ended up being extremely good for humanity in the longterm and Amazon's market cap atm is about 1.5 trillion. Crypto tech mass adoption is where the industry wants to go. By investing in crypto you're basically saying you believe that such a thing will occur. Giving Buffet as an example is the most obvious authority bias ever, the guy said the computer and the internet will be dead super fast as well, does that make him a dumb investor? No it doesn't - it simply means he doesn't know it all and there is a reason he makes longterm safe investments and stays out of crypto-like markets. All these big names calling for the fall of bitcoin yet none of them shorts it, why is that? If its not a zero sum game how does it produce profits? I am interested to know that. You said i am wrong but provided 0 explanations. I think the reason people aren't shorting BTC is we have no idea WHEN it might crash. A bull run could easily continue for the next 10 years, we have no idea. I am absolutly not advising anybody to short it, i just wouldn't hold it for the long term like you would with SPY. About the 2000 bubble, i was refering to the many companies which were essentially just .com websites and were worthless, producing 0 profits. EDIT: After some googling, you are "right". It is not 0 sum. Miners sell their coins they're given for "free", driving down the value of BTC. So its more similar to poker where there is actually a "rake". So its worst than zero sum.

Floofy you should read The Sovereign Individual. "cyber money" has been predicted for many years. It's utility is going to increase until it does replace USD, etc. That may sound crazy. But that book talks about the future I think BTC/crypto bulls predict we will be living in.

I can't answer your ? about zero sum, etc.

On October 19 2021 01:45 vasoline73 wrote: Floofy you should read The Sovereign Individual. "cyber money" has been predicted for many years. It's utility is going to increase until it does replace USD, etc. That may sound crazy. But that book talks about the future I think BTC/crypto bulls predict we will be living in. I can't answer your ? about zero sum, etc.

I am not saying all of crypto will be gone in 50 years. The technology itself is likely here to stay. I am saying most of your dogecoins, litecoins, etherum etc will most likely have crashed by then. China has already banned crypto. I think US would be more likely to simply compete with it with their own fed crypto instead of outright banning it but who knows.

On October 19 2021 04:29 Floofy wrote: Show nested quote + On October 19 2021 01:45 vasoline73 wrote: Floofy you should read The Sovereign Individual. "cyber money" has been predicted for many years. It's utility is going to increase until it does replace USD, etc. That may sound crazy. But that book talks about the future I think BTC/crypto bulls predict we will be living in. I can't answer your ? about zero sum, etc. I am not saying all of crypto will be gone in 50 years. The technology itself is likely here to stay. I am saying most of your dogecoins, litecoins, etherum etc will most likely have crashed by then. China has already banned crypto. I think US would be more likely to simply compete with it with their own fed crypto instead of outright banning it but who knows.

What you are doing here is the equivalent of a 5nl fish explaining high-stakes player how slowplaying AA to trap people is a good strategy.

On October 19 2021 04:29 Floofy wrote: Show nested quote + On October 19 2021 01:45 vasoline73 wrote: Floofy you should read The Sovereign Individual. "cyber money" has been predicted for many years. It's utility is going to increase until it does replace USD, etc. That may sound crazy. But that book talks about the future I think BTC/crypto bulls predict we will be living in. I can't answer your ? about zero sum, etc. China has already banned crypto..

He doesn't know

On October 19 2021 04:38 Baalim wrote: Show nested quote + On October 19 2021 04:29 Floofy wrote:   On October 19 2021 01:45 vasoline73 wrote: Floofy you should read The Sovereign Individual. "cyber money" has been predicted for many years. It's utility is going to increase until it does replace USD, etc. That may sound crazy. But that book talks about the future I think BTC/crypto bulls predict we will be living in. I can't answer your ? about zero sum, etc. I am not saying all of crypto will be gone in 50 years. The technology itself is likely here to stay. I am saying most of your dogecoins, litecoins, etherum etc will most likely have crashed by then. China has already banned crypto. I think US would be more likely to simply compete with it with their own fed crypto instead of outright banning it but who knows. What you are doing here is the equivalent of a 5nl fish explaining high-stakes player how slowplaying AA to trap people is a good strategy.

I don't think its usefull to argue with you guys since you provide 0 counter arguments and seem to have 0 interest in my arguments but...
So Warren buffet is a 5nl fish at investing? He and many smart people also think BTC isn't going to be on a bull run forever.
Just imagine in 20 years we get quantum computers and hackers are now able to hack the blockchains...
https://www.cnbc.com/2021/06/10/long-...omputers-hacking-bitcoin-wallets.html
I am not saying THIS is what will happen, but i can just think of so many ways things can go wrong in the next 20 years.

Now i don't see any issues with someone like Smuft trading the currency if its working for him. I got no idea how long the bull run will last and it could easily reach 150K one day. my issue would be someone putting all of his networth in BTC and blindly letting it sit there for 20 years for his retirement.

and tbh i will bump Baal's post once feds do release their own crypto

Buffet is kind of like Doyle Brunson more than 5nl fish.

Just cause he's Doyle doesn't mean he isn't old and out of touch with stuff.

On October 19 2021 13:59 hiems wrote: Buffet is kind of like Doyle Brunson more than 5nl fish. Just cause he's Doyle doesn't mean he isn't old and out of touch with stuff.

Perfect analogy.

Buffet is a nonagenarian banker ffs, he ask his grandson to open PDFs for him lol.

On October 19 2021 13:20 Floofy wrote: Show nested quote + On October 19 2021 04:38 Baalim wrote:   On October 19 2021 04:29 Floofy wrote:   On October 19 2021 01:45 vasoline73 wrote: Floofy you should read The Sovereign Individual. "cyber money" has been predicted for many years. It's utility is going to increase until it does replace USD, etc. That may sound crazy. But that book talks about the future I think BTC/crypto bulls predict we will be living in. I can't answer your ? about zero sum, etc. I am not saying all of crypto will be gone in 50 years. The technology itself is likely here to stay. I am saying most of your dogecoins, litecoins, etherum etc will most likely have crashed by then. China has already banned crypto. I think US would be more likely to simply compete with it with their own fed crypto instead of outright banning it but who knows. What you are doing here is the equivalent of a 5nl fish explaining high-stakes player how slowplaying AA to trap people is a good strategy. I don't think its usefull to argue with you guys since you provide 0 counter arguments and seem to have 0 interest in my arguments but... So Warren buffet is a 5nl fish at investing? He and many smart people also think BTC isn't going to be on a bull run forever. Just imagine in 20 years we get quantum computers and hackers are now able to hack the blockchains... https://www.cnbc.com/2021/06/10/long-...omputers-hacking-bitcoin-wallets.html I am not saying THIS is what will happen, but i can just think of so many ways things can go wrong in the next 20 years. Now i don't see any issues with someone like Smuft trading the currency if its working for him. I got no idea how long the bull run will last and it could easily reach 150K one day. my issue would be someone putting all of his networth in BTC and blindly letting it sit there for 20 years for his retirement. and tbh i will bump Baal's post once feds do release their own crypto

I have little interest because of the same rason highstakes regs dont argue about hands with microlimit players, the knowledge disparity is too big.

Quantum computer are no threat to blockchains, they can easily be forked into quantum hacking resistant blockchains.

LOL @ "it could easily reach 150k one day"... it could easily reach 150k by the end of the year actually and it will very likely be worth millions.

Governments will deploy their own blockchains, the ones who do first will leap forward other countries, being able to deploy smart contracts will greatly reduce bureaucracy and fraud among counltess benefits, however a government blockchain poses no threat to cryptocurrency at all, theres already like a dozen USD-pegged crpto currencies and hell I think a USD-pegged decentralized crypto might be safer than a "real USD crypto" that would be liable to the whims of ignorant bureaucrats.

On October 19 2021 04:38 Baalim wrote: Show nested quote + On October 19 2021 04:29 Floofy wrote:   On October 19 2021 01:45 vasoline73 wrote: Floofy you should read The Sovereign Individual. "cyber money" has been predicted for many years. It's utility is going to increase until it does replace USD, etc. That may sound crazy. But that book talks about the future I think BTC/crypto bulls predict we will be living in. I can't answer your ? about zero sum, etc. I am not saying all of crypto will be gone in 50 years. The technology itself is likely here to stay. I am saying most of your dogecoins, litecoins, etherum etc will most likely have crashed by then. China has already banned crypto. I think US would be more likely to simply compete with it with their own fed crypto instead of outright banning it but who knows. What you are doing here is the equivalent of a 5nl fish explaining high-stakes player how slowplaying AA to trap people is a good strategy.

No he is right those are trash coins litecoin and doge. Fantom maximalism is the future.

Welcome to the new ATH 150k pre-NYE inc?