Bitcoin seizure

johnarb said:
It's cool. Here's the thing, that's exactly how it is, you pretended to be interested or "compliment" bitcoin, but with an agenda, to create a narrative that bitcoin is for illegal use. I fell for it and responded encouraging you to invest your wealth without the "illegal" stuff" but you responded again that hiding wealth is the only use. See that, an agenda.

You used the word crash, and cited March of this year.

Crash to me means like 0 or very close to 0, but hey, whatever. Did you look at the price of AAPL or TSLA on March 16 compared to today? AAPL just so happens to be the biggest company in the US and is on many indices and part of most retirement portfolios.

You should do research on the volatility of bitcoin this year compared to other investments. Perception is different than reality.


I started in 2013 and one of the arguments of the naysayers is bitcoin is for illegal use. I won't repeat the other things since you have not brought them up, yet. Back then, there was no CME, Fidelity, Square, PayPal, Microstrategy, Stone Ridge, Paul Tudor Jones, JP Morgan research bitcoin involvement. So are you saying those companies and PTJ are all involved in bitcoin because "use cases...most just happen to be illegal."? You're trying to diminish the bitcoin adoption, acceptance, and growth... What's your purpose? Naaah, don't answer that. I don't care.

I'll let you have the last word. I fell for your trojan reply "compliment" when I should have known what you were trying to do, you are a "sheep in wolf's clothing".

i don't suffer fools gladly
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1. AAPL didn't crash anywhere near the level that Bitcoin did (measured from peak to March low). AAPL lost about the same as the S&P. If something loses around 60-70% of it's value, I would call that a crash. Most people consider the 2008 GFC to be a "crash" and that was far less than what Bitcoin lost.

2. Most stocks aside from cruise lines, restaurants, and hotels did not crash like Bitcoin did. Sure, some did, but most S&P500 stocks did not lose 60-70% of their value.

3. Financial service providers will support anything if they think they can make enough commissions on it. As for those who are holding it for appreciation, yeah, they are speculating. They could be right. I expect the dollar to weaken significantly over the next few years so it at least has some tailwinds. But ask yourself this, "Why would my neighbor invest in bitcoin? How is it a superior store of value over precious metals or hard assets? Why would I use it as a means of exchange over dollars, credit card, venmo, etc?"

4. "you are a "sheep in wolf's clothing" That makes no sense. Think about that for a while.
 
“Gold has no intrinsic value,” Roubini said. “If you're really worried about say inflation rising, I would buy Spam.”

“You know, you can eat Spam; you cannot eat gold,” he explained.
https://www.newsmax.com/jameshirsen/bill-maher-nouriel-roubini/2010/05/24/id/359913/

Roubini is just an ignorant man who doesn't understand basic things about markets, he got lucky once but since 2008 he's been wrong about just everything
 
They said:
Ahh, the bliss of living an existence in the Ivory Tower of Academia.

Somebody has a $BTC hair up their bum this Thanksgiving.
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It makes me wonder how someone can have their nose so far up someone else's a** on twitter who isn't even a professional trader. We don't care about what your man crush has to say
 
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