The Bitcoin (BTC) thread

kel

Ostrich
I just don't get how such a wide spectrum of ideologies, from libertarians (Nic Carter, Cynthia Lummins, Saifedean Ammous), to big tech globalists (Jack Dorsey), to right wing nationalists (Andrew Torba/Nick Fuentes), to Christian philosophers (Robert Breedlove), to quirky rocket scientists (Mike Saylor/Elon Musk), to mainstream politicians (Ro Khanna, Francis Suarez) all are Bitcoin supporters.
I don't know many of the people you've mentioned, but the ones I do know are not the super religious cryptocurrency evangelists, they're just kinda saying "it's cool, has potential, and we all know there are problems with current global monetary systems" which is a reasonably neutral place to be, lots of people can agree on that. At the extreme, the BTC thing could be reduced to "I wanna have more money and power to spend it", which is something essentially everyone - even self-professed communists - feels. I would guess they're united around simple, lower-level ideas like that, rather than "cryptocurrency is the most transformative technology of this or any era" like some Twitter handles.
 

Talus

Sparrow
More blasphemous than the fiat/predatory lending system we're already in? Re-think this topic. At least BTC has the possibility of restoring virtuous characteristics to money. Perhaps it will fail, somehow. But it is challenging the blasphemy that is already the status quo.
In regards to blasphemy, I was referring to specific phraseology mainstream Bitcoiners use. Ie, saviour, repentence, divine. No one speaks that way about gold or apple stocks. That's all I'm getting at.

Re-think this topic.
Always. Just trying to flesh this out. The world is morphing into something new, I'm just trying to be discerning. And as this is a Christian forum, I thinks it's worth looking at bitcoin from a perspective other than, 'number go higher.'
 

Blade Runner

Pelican
I didn't realize all the god-related language that exists for bitcoin. A lot of the maximalists are just odd, those of us who see it for what it is ... realize that it's a check on the existing system at a minimum, and at a maximum will change the way things are done entirely for the individual and the world - and bring much confusion, challenge and strife with it. But freedom always has carried a heavy price tag, or burden, for those who lover her.
 

Arado

Pelican
Gold Member
The stakes are way higher now. Before btc was speculative now it's more of life raft from money printer go brrr. Of course everyone that isn't oblivious is moving towards the exits regardless of ideology.

It was never a democracy. Just Jews with money printer access giving it their tribespeople and both political parties to whomever did favors for them. If people ever got something by voting it was just coincidentally what Jews already wanted.

I'm not sure what the US or other countries will transition to. Jeff Booth talks about moving towards a deflationary economy but I have a tough time picturing what that will look like with our current levels of technology. It's probably more likely they introduce another fiat currency backed by nothing and people are stupid enough to accept it again.
Ok - so then all the pro-Bitcoin centrist/left politicians know that the fiat monetary system is ending and any time they speak in favor of education/healthcare/welfare spending they are just blowing smoke and don't believe it? But even if they have a pro-Bitcoin jurisdiction or rep district it's not clear that their position will survive whatever comes out the other end. Wyoming maybe, but Miami is too diverse and criminal to function as an independent entity if the U.S. were to go defunct. Forget about Silicon Valley (Ro Khanna's district). If I was Suarez or Ro Khanna or any other mainstream politician and I knew what was coming I would be in prepper mode, not grandstanding on twitter and worrying about the next election. That is, unless they know something we don't.

It could be that Bitcoin is cool and from various people's perspective - Bitcoin sticks it to their own particular 'man'.

In the case of Jack Dorsey. The guy was a pink-haired, soy-body syberphunk. He desperately wants to be on the cool kids' table with edge-lords like Woody Harrelson, Glenn Greenwald and George Floyd. But instead he is found perched next to Nancy Pelosi and Dick Cheney flicking his pacemaker on and off.

For Jack Dorsey, the man he wants to stick it to is himself - the czar of the military industrial complex aggregator. A state surveillance agency run by gullible volunteers. Jack booted one of the other founders out of the company and pretended it was the VC guys who knifed him. He is the global czar of election interference, censorship and psyops who runs the world's largest calling-card drop site for prostitutes. Twitter turned Jack Dorsey into a total ... Oh I almost used that б-word.

In the case of Ro Khanna, he is probably just 20-30 years out of date and thinks he's sticking it to Neil Bush for the Silverado Savings and Loan scam. Normies are all 20-30 years behind yesterday.

Musk is a freewheeler who annoys everyone and has few allies in any place. He has faced attacks from all angles.

For the libertarians it's more obvious, as it is their intrinsic ideology.

It's again obvious for the likes of Torba, who have been banned from 99% of society. You won't find Jack tweeting about that blacklisting along with all his black Bitcoin and Nigeria ones.
This may have been the case in 2017 when Bitcoin was cool and edgy but now that inflation is edging up and the Fed is powerless, Bitcoin is the escape valve for the entire bond market. It's a threat to the system itself - even many macro thinkers admit that it's a superior form of money and the only reason they don't sign on hardcore is to fear of it being banned. Anyone who actually understands the financial system and how the U.S. dollar is a house of cards and the shitshow coming won't be thinking about whether it's 'cool' or 'sticking it to the man'. Torba and the libertarians I can understand though, but not the mainstream guys.

This is a salient point and pretty much the only reason I am actually becoming weary of my btc holdings. As you pointed out, bitcoin has the ability to draw everyone into it, no matter their background or personal leanings. It is a NWO so to speak, just not the one anyone envisioned. But it has similar hallmarks of Totality. It begs the question, if bitcoin is the new monetary light of the world, who was the 'light-bringer'. I've been into Bitcoin since 2014, and the longer I watch it, as it wells up and consumes financial indexes, the more I am faced with it's spiritual implications and anonymity. I don't think we really see all the implications here, and I for one am guilty of seeing dollar signs instead of spiritual signs. But it's obvious when you hear the diehard bitcoiners use religious vernacular to describe their favorite money. If it's not outright blasphemy, it borders on it.


Both. We should proceed with caution.

Or maybe I just over think things. I do that a lot...
Yeah this is what I was getting at - if it's adopted and becomes global money, it will reshape human civilization and make nation states irrelevant, as many modern nation states are inventions and only survive because of their monopoly over the money supply (and therefore the military & violence) or are subsidized by the U.S. world order to stay in power. Homogenous civilization states like Japan or Poland would survive it but many countries wouldn't. With that level of transformative power I could understand why they get religious.

I don't know many of the people you've mentioned, but the ones I do know are not the super religious cryptocurrency evangelists, they're just kinda saying "it's cool, has potential, and we all know there are problems with current global monetary systems" which is a reasonably neutral place to be, lots of people can agree on that. At the extreme, the BTC thing could be reduced to "I wanna have more money and power to spend it", which is something essentially everyone - even self-professed communists - feels. I would guess they're united around simple, lower-level ideas like that, rather than "cryptocurrency is the most transformative technology of this or any era" like some Twitter handles.
As I mentioned before 'there are problems with the monetary system' is true, but anyone that really understands the monetary system and how it forms the foundation of the modern power balance knows that if you disrupt it then all bets are off and we could be looking at a totally new world order. It's not some casual hobby to get excited over gains anymore. Your average person doesn't understand, but powerful politicians do.
 

Blade Runner

Pelican
The default explanation to explain leftists not making sense (even self interested sense, or your view of them) is chaos - it is their defining characteristic, that which drives them (and others to destruction). They simply do not examine their own lives and thoughts. You know this.

As for BTC, it is absolutely a dangerous entity now that one sees how the chaotic elements of the world are trying to re-shape it in their disgusting image. And it should make us question what we see and know. My personal view is that the powers that be and experts, in totality, aren't very smart or expert like others think they are. Key players here and there are very smart, the super top elite are smart, but most of the others work on momentum, the demonic actions of chaos, and the foolishness and fear of the peons they abuse. Their plans are usually half baked. But we tend to look at them as mirrors of ourselves, which is a mistake. They create problems but usually don't have a real plan they can, or will, stick to. They just keep causing maximum problems because that's their style. And the sands of time always run out on them. The big problem moving ahead will be how disruptive tech (like btc) is, ironically, to the US behemoth - just like how it was ironic that Trump used tech to steal their thunder and shock them. When the deep state, the hack pols, DC cartel realize that their days of free juice and abuse are over, it very well may end in a war to try to confuse and restart things. Or, China will act out and make it easy for them to justify war action so as to take advantage of a time where they know things are slipping. We shall see.
 
None of the leftists I've talked to in real life are concerned with hyperinflation or Neo Feudalism. It's more about climate change and how their city will be uninhabitable in the next 5-10 years.

When it comes to economics I've noticed the great majority of them aren't concerned with longer term consequences of MMT. This doesn't surprise me since they get and believe information from the MSM that never touches these topics. These are people that think housing prices go up continuously because of immigration and demand rather than availability of credit and stimulus. None of them actually think the fiat system is in trouble and generally think of me as a conspiracy nut for talking about it. Eventually everything ends anyway

I'm not sure if politicians actually think that far ahead. They seem to be acting in whatever way benefits themselves or their causes in the short term (like being reelected). Their concerns are more about saying the palatable things and keep their job and gain more power. "In the long run we are all dead" so why concern myself with problems bigger than my pay grade.
 

Blade Runner

Pelican
None of them actually think the fiat system is in trouble and generally think of me as a conspiracy nut for talking about it. Eventually everything ends anyway
We don't have to derail the thread but since you have thought about it a lot, what's your current best guess on the credit and fiat systems declining or crashing? 3-5 years? Next year? 2030?
 
We don't have to derail the thread but since you have thought about it a lot, what's your current best guess on the credit and fiat systems declining or crashing? 3-5 years? Next year? 2030?

Jeff Booth has said before 2030 but Michael Burry thinks there will be a hyperinflation event within a few years. I find it hard to believe it will happen this quickly but for 1923 Weimar Republic inflation took off at an accelerated pace over 12 months. I've already jumped the gun and bought 6 months of storable food. If I see prices noticeably go up further I will buy another 12-18 months worth. I guess if you 100% believe in it you could do things like take out fixed rate interest loans and buy many properties and pay them off with inflated dollars.
 

Blade Runner

Pelican
I think the window from "deflation" to inflationary steam will be short enough that I always laughed at the deflation trade, and I like the Milkshake theory, generally speaking. My feeling is that they will naturally lefty (politically) the hell out of the system as well as front run it, so that the transition to big CPI goods/price inflation will be far quicker than anyone can "trade it."
 

Dr. Howard

Peacock
Gold Member
FYI IRS clarified its stance on checking "yes or no" to the crypto question on personal tax returns. If you only bought w/ fiat and held you can check "no" to the box. If you traded, sold or received crypto as compensation you are a 'yes'
 

Cervantes

Woodpecker
In March 2020 they passed the first $2.2T "covid relief" bill. In December we had a second $1.9T bill. Congress is about to pass a third $1.9T bill. That is $6T in 12 months. To put this in perspective - that is equivalent to the entire federal budgets for 2018 and 2019 combined.

So on the eve of this gargantuan new tranche of spending:


They explain that record stock prices are because inflation is so low!

Meanwhile Bitcoin just hit $57k.
 
This is got to be the most silent BTC ATH of all time.
Maybe people got used to winning

And Bitcoin sceptics got tired of being wrong

I am in not in anyway knowledgeable on Bitcoin so I largely refrain from posting in this thread. But what I do know is that I got in at ~5000 and that we are now at ~60 000 with no signs of slowing down

Looking forward to the next round of discussions on why Bitcoin is a bubble/a NWO spy-op/intrinsically worthless/ a risky asset etc. etc.

100 000 before the end of the year?
 
Maybe people got used to winning

And Bitcoin sceptics got tired of being wrong

I am in not in anyway knowledgeable on Bitcoin so I largely refrain from posting in this thread. But what I do know is that I got in at ~5000 and that we are now at ~60 000 with no signs of slowing down

Looking forward to the next round of discussions on why Bitcoin is a bubble/a NWO spy-op/intrinsically worthless/ a risky asset etc. etc.

100 000 before the end of the year?
An article on ZeroHedge today showed a graph that the probability of BTC reaching 100k by the end of the year to be almost 20%. and other quarterly points being less of course. And with fiat money inflation starting to accelerate starting Monday I would not at all be surprised.
 

eradicator

Peacock
Gold Member
I’m not a Bitcoin skeptic but I got in way too late to take advantage of it. I will put in a little bit to btc or ethereum to round out my portfolio but I do feel good for the guys that loaded up on btc the past few years and now are wealthy as a result , it totally paid off
 
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