Bitcoin Price Thread

poopy said:
'Moving' the goalposts.

The NFT is the only other thing that you losers have assigned a value to outside of stupid forks and memes. It's the closest analog within the space. If you were functional you'd get it.
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Once again... I'm talking about BTC, and you keep coming back with NFT. When you can make a solid argument against Bitcoin that can be dealt with rationally, I am ready to listen.
 
NoahA said:
Once again... I'm talking about BTC, and you keep coming back with NFT. When you can make a solid argument against Bitcoin that can be dealt with rationally, I am ready to listen.
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Don't read it.

My point is valuation. The stuff has utility as a means to sell your gram of heroin. YOU were all pointing to point of sale, NFTs and the blockchain as revolutionary and all it gave us was ICOs. Hot mic quotes from SBF about the magic money box.

Is it tradeable? Yes. I sold my BTC bc I lost access to liquid vol. I have money with FTX.com which I'll probably see in 2030.

VALUATION.

Nothing has fundamentally changed since 2015 yet the coin has appreciated 150-fold due to corporate mining cos and ETF adoption.

Wasn't it supposed to hit $500K on the ETF rollouts? I can probably link you to the threads.

You made the same arguments for NFTs that you're making for BTC.
 
I'll be quick.

If you dump trucks were so laughably wrong about NFTs and the utility of provenance for a turd... what makes you right, now?

99% value gone in months.
 
poopy said:
Don't read it.

My point is valuation. The stuff has utility as a means to sell your gram of heroin. YOU were all pointing to point of sale, NFTs and the blockchain as revolutionary and all it gave us was ICOs. Hot mic quotes from SBF about the magic money box.

Is it tradeable? Yes. I sold my BTC bc I lost access to liquid vol. I have money with FTX.com which I'll probably see in 2030.

VALUATION.

Nothing has fundamentally changed since 2015 yet the coin has appreciated 150-fold due to corporate mining cos and ETF adoption.

Wasn't it supposed to hit $500K on the ETF rollouts? I can probably link you to the threads.

You made the same arguments for NFTs that you're making for BTC.
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I don't think I have ever made arguments for NFTs because I personally didn't believe in them. So you might be thinking about John.

With reference to valuation, I think since 2015 the price has appreciated spectacularly, but it is true that in the past few years, and especially with ETF adoption, we haven't quite seen the price appreciation that I thought we would. I am personally surprised by the amount of supply that has been made available, but this does also mean that all the supply has been soaked up.

It's okay if you don't believe in the narrative of Bitcoin, but if it truly does underpin the financial system going forward because it will be the only thing that people can trust to not be inflated at the whim of a central bank, then the 21 million coins spread amongst 8 billion people means that we are exceptionally early.

It's a really simple proposition in my opinion. Am I better served by a currency that nobody can control and that I can use anywhere in the world, or am I better served by a currency that the government manipulates at will and always ensures that I'm losing my purchasing power?

I can clearly envision the monumental benefits of the entire world agreeing on a monetary standard that no corporation or country can manipulate. Everything else we do in the world is downstream of this.

There are more and more people every single day who learn about Bitcoin and buy some for the future. I don't know where the tipping point is, but once we hit a critical mass and everybody learns that they need to have some Bitcoin, then we will no longer need to be having these discussions. And I really do think this day is coming.
 
What has ETH given us other than more magic money boxes and ridiculous gas fees? Where is the killer app? NFTs? Dry-ship manifests on the blockchain? Instead of your scarcity diarrhea you keep repeating... I'm waiting.
 
NoahA said:
And are you suggesting this is negative?

Let's just go right to the roots and see if anyone can argue with what I consider to be first principles. Money is simply a way to store and exchange value. The barter system had to evolve because often, two people couldn't trade directly because neither had what the other person wanted. So you need an intermediary "item" to accept that you can later use to exchange for something that you need.

Gold was considered this because it had world wide acceptance, and most importantly, couldn't be created without putting in hard work. Lots of alchemists tried, but in the end, only digging it up out of the ground is how you "create" gold. So when someone accepts gold as a form of payment, they inherently know that lots of work was put into sourcing this gold, and they also know that anyone will be willing to accept this gold in the future.

Money has throughout time been many different things, but central to all the various forms is this idea that you can later exchange it for something else, that it won't degrade, and most importantly, that its not easy to source. Case in point, glass beads were once thought of as valuable until the Europeans started flooding the market with easy supply, something the Africans didn't know was possible.

When government prints money, even when banks create money originating from loans, they are essentially circumventing one of the most important properties of money, the fact that it takes lots of work to create it. If whatever you use as money is easy to create, then the value dramatically drops. If I accept $100 as a daily wage, but the government just prints that $100 and gives it to someone who did no work, but work was instantly devalued.

So if this is all that money is, if its main purpose is simply to keep track of value that we all exchange amongst ourselves, then why can't it be a simple spreadsheet that everyone has a copy of and comes to an agreement about how its 100% accurate?

You seem to want to degrade Bitcoin because its just a spreadsheet, but this is actually why its the best form of money ever created. The blockchain doesn't do anything else, it has no other purpose. It doesn't have multiple properties, and this is a good thing.

I know you're smart enough to understand, but if you would like to contribute an answer to where this breaks down, I'm willing to listen.
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This is a great explanation of the evolution of money. I think the problem most of the population has with BTC is that it exists in another universe outside of our physical one. Without the network it’s useless. I believe the possibility of a network failure is remote, but most people don’t know how these things work. There is no trust without understanding.

The proof of work concept has always seemed a little weird to me. Throughout our history proof of work was a physical result that made something better for somebody. At this point in the game I don’t think BTC can claim that. I still believe that BTC usage as a means to transact for ANYTHING is necessary to keep this train going. That ability is something BTC hasn’t acquired. A hybrid system that requires you to covert it before you spend it puts a ceiling on the market. Most of the population isn’t that sophisticated.
 
We're sitting at the March 2021 peak with BTC. Since then we've had inst-investor adoption and large public mining operations. The SPX has gained 40% in USD. Fiat!
 
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