Baron's Crypto Trading Journal

Then how can you make a point for btc given their extremely limited supply and highly questionable means to verify blocks?

Baron said:
ETH is probably the one that's in the most danger of never seeing an all-time high again. There's too many competitors with superior technology. First of all, it's looking pretty obvious that Ethereum will never be able to perform any decent level of scale without the Polygon bolt-on. So while the ETH motorcycle is speeding around the race track at a decent speed with the sidecar bolted on, others like SOL and FTM are putting their versions of Ducatis on the track to compete with. It's pretty much a no-brainer to see where the outcome of this race is headed.
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Basically running gimmick calculations to solve some cryptographic problems to attach some artificial value to the maintenance of the blockchain when this can actually be much more easily solved.

My main question, however, deals with the tight supply of btc. How makes this a crypto that is marketed as mass adoptable unless of course we talk about a btc value of multiple hundreds of millions...the only thing that keeps up the value is the sheer belief in it. While with fiat currency in stable and large economies at least an entire economy would go back to the stone age if it's government and monetary authority reneged on its promises to uphold its value. At least it takes a similar amount of years of average salary to pay off a home with fiat currency now than it took 50 years ago. Perhaps a little longer now but not 100 times as long which would suggest inflationary loss of value of that fiat currency.

Baron said:
What do you mean by "highly questionable means to verify blocks"?
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Clark Bruno said:
Disagree, sell a few billions and the lemmings all follow along and get shaken out. Media jumps on the bandwagon, then wait and let the down side positive correlation with equities play out. Then reload the gun and start over on the opposite side. You can't tell me that you can't easily net a few dozen if not hundred millions with that.
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You don't trade size. It's absolutely transparent from reading your last.
 
Clark Bruno said:
Basically running gimmick calculations to solve some cryptographic problems to attach some artificial value to the maintenance of the blockchain when this can actually be much more easily solved.

My main question, however, deals with the tight supply of btc. How makes this a crypto that is marketed as mass adoptable unless of course we talk about a btc value of multiple hundreds of millions...the only thing that keeps up the value is the sheer belief in it. While with fiat currency in stable and large economies at least an entire economy would go back to the stone age if it's government and monetary authority reneged on its promises to uphold its value. At least it takes a similar amount of years of average salary to pay off a home with fiat currency now than it took 50 years ago. Perhaps a little longer now but not 100 times as long which would suggest inflationary loss of value of that fiat currency.
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I might need somebody to interpret his post. I think he's been at the pub too long tonight.
 
Clark Bruno said:
It's ok you don't want to address those questions ;-)
Have a nice weekend
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What he means is that you are pulling a RainMaker3000 on your refuting Baron's belief that cryptos can be a store of value, and can appreciate in value over time.

You'll eventually understand what that means. Read some more forum.
 
Appreciate in value? Why not...anything can appreciate in value. I never questioned that. And I get that someone who is a diehard believer sometimes feels antagonized when someone questions his beliefs, especially when a bit of sarcasm is added on top as I probably did and for which I apologize. Though how bitcoin can ever find broad adoption with such limited supply and why going through all the hoops of solving difficult cryptographic problems when those are actually not needed, neither for the maintenance of the blockchain nor for the processing of transactions, all those were honest questions.

Overnight said:
What he means is that you are pulling a RainMaker3000 on your refuting Baron's belief that cryptos can be a store of value, and can appreciate in value over time.

You'll eventually understand what that means. Read some more forum.
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Clark Bruno said:
...Though how bitcoin can ever find broad adoption with such limited supply and why going through all the hoops of solving difficult cryptographic problems when those are actually not needed, neither for the maintenance of the blockchain nor for the processing of transactions, all those were honest questions.
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Your questions are honest, but the premise seems flawed. What you call "cryptographic problems" is the essence of the entire blockchain project.

Are you insinuating you have a better solution to BTC and the blockchain issue you see in your mind?

If so, let your readership know here, in this thread! I am sure they are keen to listen.
 
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