Bitcoin, Cryptocurrency, and the Future of Global Finance

#2,376
#2,376
theFallGuy said:
It's tech that isn't going anywhere but tradfi people would rather fade it than do any research. Meanwhile Blackrock is spending billions buying up Bitcoin because they know. Swim with the whales.
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Blackrock is buying BTC because they want to make money on the management fees from their BTC ETF...

The amount that Blackrock is purchasing is based on the inflows that Blackrock is having with their ETF.

Blackrock having an ETF can be part of a bull argument for BTC but not exactly for reasons you are referring to.
 
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#2,377
#2,377
theFallGuy said:
Bro did you just say dollar bills won't be printed to Zero? You must not live in America because it's literally happening in real time
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No. It’s being managed. Venezualia is where their currency was printed to zero. $30+T in debt. $2-2.5 trillion in currency is circulating.
 
#2,378
#2,378
Thunder Good-Oil said:
Gold has value as an industrial input and to create goods for consumers. It’s also finite while CCs are constantly being created. Paper bills are backed by governments. Some like dollars, pound, Euros, etc are stable and hold their value. They won’t be printed in too large of quantities else they end up being best utilized as toilet paper (see Venezuela). Tulips are the best comparison to crypto.
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WOW... I don't know what to say to that.
 
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#2,382
#2,382
Thunder Good-Oil said:
I understand. They’re short term trading of assets that generate zero income and have very little utility. It’s gambling, not investing. Any positive returns are offset by somebody else’s negative returns. Like meme stocks and Ponzi arrangements - those that don’t convert to established currencies early in each cycle will be the bag holders.
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You didn't hear what I said, maybe...

How can you say it has no utilities but you CASH it out in USD???

I just sold one of my BTC at 64k and used that to buy into 3 other alt coins that will pay that investment back by 2 weeks from now, and 10x at minimum by May 23.

You think this is gambling lol??

When the ETF was approved for BTC, that was the first step in indirect "regulation" of crypto.

This is the most predictable Bull Run in history.
I'll enjoy my millions in "non-valuable" USD and PHP.

God bless you man, but this stuff ain't hard or a conspiracy. It's a cash grab.
 
#2,384
#2,384
LittleVol said:
You didn't hear what I said, maybe...

How can you say it has no utilities but you CASH it out in USD???

I just sold one of my BTC at 64k and used that to buy into 3 other alt coins that will pay that investment back by 2 weeks from now, and 10x at minimum by May 23.

You think this is gambling lol??

When the ETF was approved for BTC, that was the first step in indirect "regulation" of crypto.

This is the most predictable Bull Run in history.
I'll enjoy my millions in "non-valuable" USD and PHP.

God bless you man, but this stuff ain't hard or a conspiracy. It's a cash grab.
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Being able to convert an asset to USDs isn’t ‘utility’.

I’ve asked a very simple question that nobody can answer. How does crypto create more value for those holding the asset? How do those assets generate income? Isn’t the price appreciation just the asset being bid up when there are more willing buyers than sellers?
 
#2,385
#2,385
I cannot wait to reflect on some of the posts in this thread in the months and years to come!!!!!
 
#2,388
#2,388
BigOrangeMojo said:
You were pretty spot on in 2021 during the last bull run....
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I’m not against trading CCs. I even see a LT place for them - especially if a handful emerge from the crowd of thousands of coins. I feel like BTC is at the top of the trading range for now. Cathie Wood thinks it’ll be at a million USDs soon.

I made some money trading MicroStrategy (MSTR). I might get back in if Bitcoin has a big correction.

I still want somebody to explain to me in simple terms how value will be created with crypto other than those with finite coins being bid up with more buyers than sellers and those without a coin limit appreciating much like a Ponzi. Bitcoin is only one of the currencies and has a market cap greater than all but maybe a couple of US equities. They are unique assets. In some ways they’re like art work or Michael Jordan rookie cards. Maybe a little like precious metal and gems, but those also have industrial uses and consumer demand for jewelry.

If some CC names find a reasonable valuation then maybe some day coins will be used to routinely transact purchases and be assets tgat can be lent. However, right now they are extremely volatile which makes them a tradable asset. But watch out as the big Wall Street firms enter the fray.
 
#2,389
#2,389
I don’t know why the big believers in crypto cash out in USDs and brag about their profits. Why wouldn’t they keep holding their coins instead of converting to traditional currencies?
 
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#2,391
#2,391
Thunder Good-Oil said:
I’m not against trading CCs. I even see a LT place for them - especially if a handful emerge from the crowd of thousands of coins. I feel like BTC is at the top of the trading range for now. Cathie Wood thinks it’ll be at a million USDs soon.

I made some money trading MicroStrategy (MSTR). I might get back in if Bitcoin has a big correction.

I still want somebody to explain to me in simple terms how value will be created with crypto other than those with finite coins being bid up with more buyers than sellers and those without a coin limit appreciating much like a Ponzi. Bitcoin is only one of the currencies and has a market cap greater than all but maybe a couple of US equities. They are unique assets. In some ways they’re like art work or Michael Jordan rookie cards. Maybe a little like precious metal and gems, but those also have industrial uses and consumer demand for jewelry.

If some CC names find a reasonable valuation then maybe some day coins will be used to routinely transact purchases and be assets tgat can be lent. However, right now they are extremely volatile which makes them a tradable asset. But watch out as the big Wall Street firms enter the fray.
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I guess the explanation in my previous posts was not "simple" enough. I am so sorry, maybe getting a basic knowledge of how block chain works would help. And trading BTC at this point in time is not going to get anywhere near the yield of the new 3rd gen layer ones, especially those with utility that are being used as we speak.
 
#2,392
#2,392
reecetn said:
I guess the explanation in my previous posts was not "simple" enough. I am so sorry, maybe getting a basic knowledge of how block chain works would help. And trading BTC at this point in time is not going to get anywhere near the yield of the new 3rd gen layer ones, especially those with utility that are being used as we speak.
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No, it wasn’t simple enough. Explain again how crypto generates income.

Explain the “utility”. It can be a hedge for those expecting the collapse of a centuries old banking system. North Korea can exchange it for weapons delivered to Russia. Mexican cartels can use it to hide drug money. Cyber criminals can use it for ransom payments.

Blockchain is basically a distributed ledger, no? CCs utilize it. CCs aren’t blockchain. Publicly traded companies aren’t their financial systems and accounting records.
 
#2,393
#2,393
Thunder Good-Oil said:
No, it wasn’t simple enough. Explain again how crypto generates income.

Explain the “utility”. It can be a hedge for those expecting the collapse of a centuries old banking system. North Korea can exchange it for weapons delivered to Russia. Mexican cartels can use it to hide drug money. Cyber criminals can use it for ransom payments.

Blockchain is basically a distributed ledger, no? CCs utilize it. CCs aren’t blockchain. Publicly traded companies aren’t their financial systems and accounting records.
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What part was not simple enough?
 
#2,395
#2,395
Thunder Good-Oil said:
No, it wasn’t simple enough. Explain again how crypto generates income.

Explain the “utility”. It can be a hedge for those expecting the collapse of a centuries old banking system. North Korea can exchange it for weapons delivered to Russia. Mexican cartels can use it to hide drug money. Cyber criminals can use it for ransom payments.

Blockchain is basically a distributed ledger, no? CCs utilize it. CCs aren’t blockchain. Publicly traded companies aren’t their financial systems and accounting records.
Click to expand...
The reason it does not work now and never will for illicit activities that need to be hidden from authorities is very simple. Blockchain is an immutable ledger that keeps track of every transaction INCLUDING the conversion into currency which is where the "criminal" will get caught every time.
 
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#2,396
#2,396
reecetn said:
The reason it does not work now and never will for illicit activities that need to be hidden from authorities is very simple. Blockchain is an immutable ledger that keeps track of every transaction INCLUDING the conversion into currency which is where the "criminal" will get caught every time.
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Who will regulate it and enforce criminal activity?
 
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