The Bitcoin (BTC) thread

Maciano

Kingfisher
In case of a serious long-term power cut you need some cash. And I always have a few 1000 euro at my home, exactly for stuff like emergencies.

What you definitely don’t need in such a time: gold
 
What is everyones thoughts about the two recent themes of anti-bitcoin mass media articles being pushed out?

First is the idea of Bitcoin using too much electricity (‘more than the entire country of Argentina’). Second is the idea that the Fed is planning a fedcoin/digital dollar which would claim some of the benefits of bitcoin (although it would still be centralized through the Fed/central bank, it would have some beneficial properties of a digital currency that could take away some attention from bitcoin)

heres some examples of the articles the main stream media machine is pumping out:




Seems the establishment is accelerating the anti-bitcoin campaign and not sure if anyone else is getting a little nervous
 

Blade Runner

Pelican
What is everyones thoughts about the two recent themes of anti-bitcoin mass media articles being pushed out?

First is the idea of Bitcoin using too much electricity (‘more than the entire country of Argentina’). Second is the idea that the Fed is planning a fedcoin/digital dollar which would claim some of the benefits of bitcoin (although it would still be centralized through the Fed/central bank, it would have some beneficial properties of a digital currency that could take away some attention from bitcoin)

heres some examples of the articles the main stream media machine is pumping out:




Seems the establishment is accelerating the anti-bitcoin campaign and not sure if anyone else is getting a little nervous
Seriously, the good thing is that the people who are actually convincible or interested in learning about BTC won't fall for mainstream propaganda. They will also find the counters to these silly arguments and that they are obviously hollow on many levels. The FEDcoin idea, which will be more manipulated than even the current US "currency" paradigm, will be actually another BOON for BTC, which is the best part of that stupid idea.
 

Blade Runner

Pelican
Can anyone make a guess in how an altcoin's value will eventually be "worth" a much greater amount in X years? Is it just through pure desire and usage of their application (Ethereum for example) that their tokens are now worth more?
 
I responded to the comment Russia about being crypto-friendly.
It is not. (enforcement is a completely different topic)

As to enforcement - if you want to get fiat out of your crypto holding, they'll absolutely enforce.
Russia has very strict capital controls system and Russian banks freeze accounts left and right for transactions they find suspicious, and they just got instructions from Central Bank to focus on crypto related transactions.
It's not like in America where they bounce they money back - nope, they just freeze the account and hold the money until the letter from tax service is produced.
Unlike nice Uncle Sam who only may cancel the passport for 50K owed to IRS, Russia absolutely will prevent a citizen from leaving the country for slightest amounts/fines owed, debtor database is checked at the exit points.
By the way, starting this January Russian subjects have to report all their crypto holdings to tax service if they traded more than about 8K USD equivalent during the year, this includes all holdings including ones that weren't traded.

I find it a little amusing that RT (English) gives platform to Max Keiser, while having completely different story and regulating the opposite for Russian subjects. (though if you think of it, it's a no-brainer what's going on). By the way, Russia loves US Treasury bonds as investment vehicle.

Yeah I've noticed it to be one of least crypto friendly countries.

Keiser makes US monetary system wall street look bad by calling them out. bitcoin also undermines the USD as global reserve currency. RT is my favorite MSM channel.
 
Can anyone make a guess in how an altcoin's value will eventually be "worth" a much greater amount in X years? Is it just through pure desire and usage of their application (Ethereum for example) that their tokens are now worth more?

If anyone knew this they'd always be making money. Scarcity, monetary policy, speculative value and utility/network effect. I think an A in all categories usually makes for an altcoin that won't get washed away and has value. This seems hard but when you look at the cryptocurrency ranked website only the first 100 matter and only 5 coins or less have real value.
 

aynrus

Kingfisher
Yeah I've noticed it to be one of least crypto friendly countries.

Keiser makes US monetary system wall street look bad by calling them out. bitcoin also undermines the USD as global reserve currency. RT is my favorite MSM channel.
Russia is in the middle of big war on offshores. Last chances of amnesty for offshore accounts right now. Untracked crypto is a form of offshore, basically.
 
What is everyones thoughts about the two recent themes of anti-bitcoin mass media articles being pushed out?

First is the idea of Bitcoin using too much electricity (‘more than the entire country of Argentina’). Second is the idea that the Fed is planning a fedcoin/digital dollar which would claim some of the benefits of bitcoin (although it would still be centralized through the Fed/central bank, it would have some beneficial properties of a digital currency that could take away some attention from bitcoin)

heres some examples of the articles the main stream media machine is pumping out:




Seems the establishment is accelerating the anti-bitcoin campaign and not sure if anyone else is getting a little nervous

lol I thought it was just me that thought this way. Friends and family were sending me articles written by aliens and women with "experts" like Janet Yellen telling us Bitcoin bad because much electricity used. I just laugh it off and tell them not to take financial advice from women etc.

My interpretation of this is that the financial powers at be want to buy Bitcoin but the liquidity isn't there so they are using every method they have to shake people out. This costs them a lot of money but they seem it worth doing. I can see the price dropping to maybe 40k which is roughly a 30% drop from all time highs.
 
Gold cannot be verified without electrical power either, and it has to be these days as the fakes are not as dumb like in the past.
It is also the best vehicle to teach you a harsh lecture regarding greed and negligence. Especially the greed is a tough one.
 
Last edited:
What is everyones thoughts about the two recent themes of anti-bitcoin mass media articles being pushed out?

First is the idea of Bitcoin using too much electricity (‘more than the entire country of Argentina’).
Bitcoin mining ≠ Bitcoin.
Second is the idea that the Fed is planning a fedcoin/digital dollar which would claim some of the benefits of bitcoin (although it would still be centralized through the Fed/central bank, it would have some beneficial properties of a digital currency that could take away some attention from bitcoin)
Why would it replace Bitcoin? It would only get more people to buy Bitcoin if anything, since they will get used to the idea of owning "crypto". The coming e-dollar, e-Euro, e-krona etc will be inflationary currencies printed by Central Banks and will have zero anonymity or long term value.
 
Last edited:
I look at it this way. Gold and precious metal bugs assume gold and precious metals have a 'static' value. All it will take to wash away the argument is exploration into the asteroid belt to refute the static value of gold and precious metals, diamonds, jewels.

What humanity needs is a static protocol that stands the test of time, irrespective of government action. Protocols ladies and germs!!! Protocols!!! Double entry bookkeeping, accrued interest, GAAPs worked out well for humanity until "creative" accounting took to the fore in the late 20th Century. It's time for a distributed verifiable protocol to be added to the financial world. It's time to dip your jeweled toes into the crypto-water and see if one can swim in it.
 

tothepoint

Woodpecker
If the NASDAQ goes down, BTC follows. As I said a few months ago, I don't like this behavior. If BTC is supposed to be the hedge against inflation it should not be so volatile.
Also, the more expensive it becomes, the harder it is to justify as an investment. When I buy something that can drop 10% in one day I expect a big upside potential as well. Can BTC double from current prices as easily as it did from 5k to 10k for example ?
 

aynrus

Kingfisher
The truth is there's no safe, stable, guaranteed asset to withstand inflation or hyperinflation. It's all dynamic and the only strategy is to stay dynamic and react to the situation. Gold, silver, crypto, real estate are speculative assets.
Gold is a volatile ,speculative asset that also does not even keep up with inflation over a long term period and thus is very sensitive to entry timing - however it's now a lot less volatile than crypto (not counting 1970s gold run). Crypto underperforms inflation during its flat periods and greatly overperforms it during bull runs. There's no single thing that's right or wrong. Seems like being able to exit timely is the key.

From personal experience with hyperinflation, big city real estate was the about the only thing that did truly well, while not requiring huge trouble to safely store it/least likely for someone to force you to part with it - but even that can get confiscated by the cartels if collapse picks up. Many people had been murdered or had to voluntarily give up their real estate holdings: this is what happens once society starts coming undone. Losing land is even easier.
Real estate that serves as a primary residence at least has added benefit of providing a roof over one's head (that if things don't get bad enough to just abandon it and escape - seen this happen too) - but real estate involves property taxes (huge in the States), maintenance expenses (total rip off in the States right now, in part due to building codes) and insurance expenses (which had been mooning in the States lately). Non-income producting real estate (averaged accross US) I think barely kept up with official/CPI inflation over the years, after all expenses, but at least one can save on rent expense.
 
Last edited:

Maciano

Kingfisher
If the NASDAQ goes down, BTC follows. As I said a few months ago, I don't like this behavior. If BTC is supposed to be the hedge against inflation it should not be so volatile.
Also, the more expensive it becomes, the harder it is to justify as an investment. When I buy something that can drop 10% in one day I expect a big upside potential as well. Can BTC double from current prices as easily as it did from 5k to 10k for example ?
Yes it can, and it will.

BTC will reach 100-150k this year, I’m totally sure of that.

Longer term we shall see what happens. I don’t know if BTC will be at $1M in 2025, but it will be very high. Much higher than 100k, multiples at least
 
Top