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BITCOIN
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gravel_2 said:Another thing holding this kind of development back is the HODL philosophy... BTC hardcore don't actually want to use BTC as currency (right now), as that means holding less BTC. You don't want to be that guy who famously bought a pizza with 10k BTC or one of the thousands who spent millions in today's money on Silk Road.
This is also why platforms like Celsius and Nexo exist. People with large holdings would rather securitise their crypto, take tax-free cashflow in fiat and release their holdings later for the cost of interest payments (paid in fiat). Functionally BTC acts more like a fine art collection or property portfolio than currency in that market, and such market is geared only to those with significant holdings.
I was was a bit disappointed the interviewer didn't question him on the return on those investments when compared to property, but it was an interesting thought. Aligns with those that compare it to investing in gold. The difference in volatility was not mentioned either.
I was just scrolling and it was a random feed the algorithm threw at me, so I didn't catch the channel but will see if I can find a link.0 -
MeteredOut said:gravel_2 said:Another thing holding this kind of development back is the HODL philosophy... BTC hardcore don't actually want to use BTC as currency (right now), as that means holding less BTC. You don't want to be that guy who famously bought a pizza with 10k BTC or one of the thousands who spent millions in today's money on Silk Road.
This is also why platforms like Celsius and Nexo exist. People with large holdings would rather securitise their crypto, take tax-free cashflow in fiat and release their holdings later for the cost of interest payments (paid in fiat). Functionally BTC acts more like a fine art collection or property portfolio than currency in that market, and such market is geared only to those with significant holdings.
I was was a bit disappointed the interviewer didn't question him on the return on those investments when compared to property, but it was an interesting thought. Aligns with those that compare it to investing in gold. The difference in volatility was not mentioned either.
I was just scrolling and it was a random feed the algorithm threw at me, so I didn't catch the channel but will see if I can find a link.0 -
gravel_2 said:Another thing holding this kind of development back is the HODL philosophy... BTC hardcore don't actually want to use BTC as currency (right now), as that means holding less BTC. You don't want to be that guy who famously bought a pizza with 10k BTC or one of the thousands who spent millions in today's money on Silk Road.
This is also why platforms like Celsius and Nexo exist. People with large holdings would rather securitise their crypto, take tax-free cashflow in fiat and release their holdings later for the cost of interest payments (paid in fiat). Functionally BTC acts more like a fine art collection or property portfolio than currency in that market, and such market is geared only to those with significant holdings.Celsius went bankrupt btw, I got burned with a few ETH there although I did get maybe 35 cents on the dollar by the end, better than nothing.
I’ve used Nexo in the past with no problem, I’m kind of surprised that it was them and not Celsius that came through the crypto winter but yeah it’s the counterparty risk that you need to factor in.
The pizza guy is a very niche one. On one hand that’s huge money now, on the other he convinced some guy to trade with magic bean money that at the time had no value (and arguably still doesn’t according to most in here haha)
im sure he had plenty other BTC and is still very wealthy.
I have stoner mates who used Silk Road, they are skint too and cursing their luck that the can’t find an old wallet with half a bitcoin in it0 -
flaneurs_lobster said:Scottex99 said:
My company has a client that rent supercars, they came to us because their potential clients were coming to them asking about BTC/ETH/USDT etc
If the demand is there it will happen1 -
HHarry said:Scott,
Thanks for taking the time to reply. It’s one of the rare positive posts that doesn’t revert to name calling stereo-types, shout ‘to the moon’, cites uncheckable facts and didn’t introduce a strawman argument.
I don’t agree with everything (store of value) but learnt that a yield is possible.
Have a good day!
Will put this quote on my wall, lol0 -
I was was a bit disappointed the interviewer didn't question him on the return on those investments when compared to property, but it was an interesting thought. Aligns with those that compare it to investing in gold. The difference in volatility was not mentioned either.
I was just scrolling and it was a random feed the algorithm threw at me, so I didn't catch the channel but will see if I can find a link.
Leveraging debt in his company to buy stacks and stacks of BTC. When price goes up, generally the price of his company stocks do too, so he then creates more debt and buys more coins.
It's a bold play, he says he's never selling and already billions in profit, I think his average entry is $35-40k at a guess. If we see $100-150k BTC one day (and sells) he becomes one of the richest guys in the world, if he isnt already0 -
gravel_2 said:MeteredOut said:gravel_2 said:Another thing holding this kind of development back is the HODL philosophy... BTC hardcore don't actually want to use BTC as currency (right now), as that means holding less BTC. You don't want to be that guy who famously bought a pizza with 10k BTC or one of the thousands who spent millions in today's money on Silk Road.
This is also why platforms like Celsius and Nexo exist. People with large holdings would rather securitise their crypto, take tax-free cashflow in fiat and release their holdings later for the cost of interest payments (paid in fiat). Functionally BTC acts more like a fine art collection or property portfolio than currency in that market, and such market is geared only to those with significant holdings.
I was was a bit disappointed the interviewer didn't question him on the return on those investments when compared to property, but it was an interesting thought. Aligns with those that compare it to investing in gold. The difference in volatility was not mentioned either.
I was just scrolling and it was a random feed the algorithm threw at me, so I didn't catch the channel but will see if I can find a link.
From their website
“WIF isn’t just a cryptocurrency; it’s a symbol of progress, for futuristic transactions, a beacon for those who think ahead. It’s clear that the future belongs to those who embrace innovations like WIF, transcending boundaries & paving a new era in finance and technology.”
Read that again, then appreciate WIF has a market cap of over $3 billion for something that does nothing. The world is crazy, but people make money from crazy things.0 -
$3 billion, pah. Dogecoin has a "market cap" of "$22 billion" despite being explicitly created as a joke.
But it also has a manifesto don'tchaknow:We are developing a currency for the people, and we strive to do only good everyday. Through this work we have come to value:
Being useful, we value utility over technical brilliance.
Being personable, we value individuals and interactions over profit-driven economics.
Being welcoming, we value collaboration and trust over competition and exclusivity.
Being reliable, we value working solutions over speed of delivery.As a reminder, this is a distributed spreadsheet entry that (like all crypto tokens) does absolutely nothing except record the ownership of the spreadsheet entry by a given key. Its ringleaders collaborate on absolutely nothing except maintaining the spreadsheet. It solves nothing, and delivers nothing, at a speed of infinity years per thing delivered. But so much real money and so many man-hours have been expended on buying and selling it that somebody felt they had to spend an afternoon cobbling together a "manifesto" to make the punters feel better about it.
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Malthusian said:$3 billion, pah. Dogecoin has a "market cap" of "$22 billion" despite being explicitly created as a joke.
But it also has a manifesto don'tchaknow:We are developing a currency for the people, and we strive to do only good everyday. Through this work we have come to value:
Being useful, we value utility over technical brilliance.
Being personable, we value individuals and interactions over profit-driven economics.
Being welcoming, we value collaboration and trust over competition and exclusivity.
Being reliable, we value working solutions over speed of delivery.As a reminder, this is a distributed spreadsheet entry that (like all crypto tokens) does absolutely nothing except record the ownership of the spreadsheet entry by a given key. Its ringleaders collaborate on absolutely nothing except maintaining the spreadsheet. It solves nothing, and delivers nothing, at a speed of infinity years per thing delivered. But so much real money and so many man-hours have been expended on buying and selling it that somebody felt they had to spend an afternoon cobbling together a "manifesto" to make the punters feel better about it.
The only crypto I have ever "owned", all [consults app] £32.13's worth of it.1 -
Malthusian said:$3 billion, pah. Dogecoin has a "market cap" of "$22 billion" despite being explicitly created as a joke.
But it also has a manifesto don'tchaknow:We are developing a currency for the people, and we strive to do only good everyday. Through this work we have come to value:
Being useful, we value utility over technical brilliance.
Being personable, we value individuals and interactions over profit-driven economics.
Being welcoming, we value collaboration and trust over competition and exclusivity.
Being reliable, we value working solutions over speed of delivery.As a reminder, this is a distributed spreadsheet entry that (like all crypto tokens) does absolutely nothing except record the ownership of the spreadsheet entry by a given key. Its ringleaders collaborate on absolutely nothing except maintaining the spreadsheet. It solves nothing, and delivers nothing, at a speed of infinity years per thing delivered. But so much real money and so many man-hours have been expended on buying and selling it that somebody felt they had to spend an afternoon cobbling together a "manifesto" to make the punters feel better about it.
(their manifesto is pretty much a variation of the agile manifesto)1
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