Satoshi,Saylor and Curly.
The 3 stooges.
(Satoshi:60 Billion,Saylor:5 Billion,Curly: Priceless.)
Versus
schizo from ET
(Flip long,flip short,flip long,flip short,flip long,out for $1200 loss.)
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150k bitcoin predicted by lee,,..1 billion by others!!
- Thread starter S2007S
- Start date
Satoshi,Saylor and Curly.
The 3 stooges.
(Satoshi:60 Billion,Saylor:5 Billion,Curly: Priceless.)
Versus
schizo from ET
(Flip long,flip short,flip long,flip short,flip long,out for $1200 loss.)
This is actually a major problem with Bitcoin becoming the yardstick for price. You'd have to be bonkers to take out a 30 year mortgage denominated in Bitcoin. How could you set the rate? Both sides would be terrified of rapid movements in Bitcoin's price cause them to go into the red.
The deflationary aspect is a nightmare for people who engage in real business. Rather than let invoices and accounts receivables how their way through your company at a normal pace, you're going to be in a rush to pay for things you may not even have unboxed and tested yet.
If I'm going to buy gas at the pump Bitcoin could work because everything will just be automatically adjusted with a computer. But if I'm ordering something that take 12 weeks to produce it's a big issue. In the real business world there are a lot of cases where someone agrees to a price and then begins a year or more long activity to deliver the promised product or service.
How do you pay your employees? Make them take a wage cut every year?
Except that they won't adopt Bitcoin. The only countries even looking seriously at Bitcoin were those who had completely screwed up their own economies and currencies.
There are very good reasons why people let banks custody their assets. People don't want to be CFO of a firm with $100 million in Bitcoin on hand because it makes them a perfect target for extortion, their family a perfect target for kidnapping, etc. And shareholders don't want their either because the CFO could take all their Bitcoin and run off to some non-extradition country.
Expect the corporate world to develop a crypto with
- much more control over how it can be spent
- Positive verification of the identity and legal location of users
- Clearly defined legal jurisdiction for resolving disputes and features specifically to support that
- Proper tax reporting
You're right, based on the current system we operate in. Of course you take a loan out in dollars that devalue, so in 10 years, that monthly payment is way easier to manage because of depreciated dollars. But that is why an average house is $500k or $1M depending on location. The price of all things today take into account that the monetary system is completely broken. It takes into account that the government prints out of thin air, and that the government will backstop any fuckup by anyone. Maybe a house shouldn't take 10 years to pay off, even for the few who can still afford it these days.
I don't have all the answers, but I can tell you with certainty that once we switch to a currency that cannot be manipulated, everything else will fall into place. The first thing will be a much smaller government with endless regulation because if the government can't print money to pay themselves, nobody will be willing to fund the bullshit that the government does.
We currently have no idea what the price of anything should be because interest rates are artificially set, governments subsidize too many industries, they prints trillions, they allow endless immigration which lowers wages, and the list goes on. So I have no idea how much a house should cost, or how long a mortgage should be since the prices are all broken.
Only because you know the current system. Read up on Jeff Booth and his book, The Price of Tomorrow. He outlines how the world is actually deflationary, and technological makes this exponential. Think about it. Everything around us should be cheaper because some entrepreneur figures out how to do things cheaper and faster, so prices should be falling. We went from a farmer having to work all day to feed his family, to him now operating automated machinery that feeds his town. So why is food still so expensive? Henry Ford brought the price of cars down to a level most people could afford, and where are the prices now? The world wants to be deflationary, but the currency doesn't allow for this because governments needs an inflationary currency in order to steal from you.
If prices fall, we can all work less and still have just as much stuff and services since those prices will be falling. Today, right now, everyone needs to work more, and is actually getting even less and less, so much so that they cant survive. So you tell me, do we fix this by doing exactly the same thing we are doing? Printing more?
Because each country still wants control. Nobody wants to give it up, but at some point, you realize that since nobody will be able to trust a fiat currency, they will need to switch to something that can't be manipulated and controlled. Its just a matter of time.
So first, read up on multi-sig. Any corporation will have a setup that plans for this. And second, that's what the ETFs are for. Any business can put this on their balance sheet. A robber can't make a CFO send them shares.
Who will use it? A CBDC is the closest example and rightfully so, everyone is resisting this. Nobody wants a currency that can be controlled. If something like this passes, your country ends up like North Korea. The reason US got to be what it is today is because the government just let people innovate and didn't bug them too much. This secret is out. People do their best work when they are free. If you lock them down, your country goes to shit.
And what if bitcoin is the one thing that everyone will accept because they know they can easily trade it for something else? I just dumped all my silver this year and do you know what a pain it was to sell it? Do you know the huge spread I lost to trade it in for cash? Bitcoin is so incredibly easy to use.
I know in some countries they prefer stablecoins, and that's fine, its the first step. But the cat is out of the bag now. The world is digital, and deflationary, and it needs a currency that operates in this new world.
I like that you have all these objections because this is exactly how I felt 3 years ago. But the more I learned, the more I realized my objections didn't hold up, and then you see the light.
Are you and John mentally challenged? Can't read straight? My accusation was based on your inability to read the market and has nothing to do with individual wealth. The fact that it took you this long to figure out that Whales were manipulating the market speaks volume about your acumen as trader (or HODL).
BTW thanks for comparing me to your three heroes. But I would rather prefer to go with Jim Simons than those three stooges.
Are you and John mentally challenged? Can't read straight? My accusation was based on your inability to read the market and has nothing to do with individual wealth. The fact that it took you this long to figure out that Whales were manipulating the market speaks volume about your acumen as trader (or HODL).
BTW thanks for comparing me to your three heroes. But I would rather prefer to go with Jim Simons than those three stooges.
Lolz.
Your posts the last 6 months have reeked of bitterness.
Make a choice:bystander or roadkill.You cant have it both ways.
Wishing you the best as always.
See, you're deflecting again... always going off the rails. But if that's how you see it, well, so be it.
And if you and John would grow up and learn to accept opposing points of view, things wouldn't need to be this acrimonious.
Good luck to you as well.
Its not going off the rails,(Ok,sometimes I overdo it! haha)its speaking directly.
Theres no passive aggression from John or I.
We're not trying to play both sides.
I'm on ET for opposing points of view but not the snarkiness quickly followed by 'I dont care either way'.
Its irritating.
Are you fcking serious?
I dunno about you, but the other dude is a hysterical nut.You mean you don't have any side but UPSIDE. So what's the point of having a discussion in the first place?
I'm signing out from this place. All the best from your most beloved FUD.
Are you fcking serious?
You mean you don't have any side but UPSIDE. So what's the point of having a discussion in the first place?
I'm signing out from this place. All the best from your most beloved FUD.
Your own thread was regarding the crypto winter which was certainly not 'upside' and which tested all the investors.
That was back when you were far more rational and calm about things.
Now its spring and all of a sudden we're stooges and hysterical nuts?
Not sure what happened to you mate.
Bitcoin is a monster,no one says you have to trade it and you certainly dont have to invest in it but you dont need to waste so much energy on it.
You dont need to sign out,but if youre gonna be aggressively 'anti' ,you need to be ready for the 'pro' side to respond.
Man, what the heck is wrong with ya? The title of that thread was Is the Crypto Winter OVER?? And if you actually read any of my posts, you would know I was predicting (at the time) that the bear market was over.
It ain't me who's wasting energy here. It's mostly folks like you who go all