Crypto Critic Charlie Munger Sides with China
- Thread starter Baron
- Start date
If you own the private key(s) to an amount of BTC's, no one can confiscate it
If you disclose that you own those BTC's, then anyone can force you to transfer the BTC's to their address(es)
Example: It is estimated that Satoshi has ~1 Million BTC's as he was primarily the only one mining in the beginning since no one believed in Bitcoin
The block reward in the beginning was 50 BTC's
No one or group or country have been able to confiscate them
Easy to verify by going on the blockchain
Here's a couple of Bitcoin blocks and click the address that got the reward and see the original 50 BTC block reward never got transferred out to another address
People send small amounts of BTC's to the address, but there are no outgoing transfers
Over $1M for each address available to anyone who can confiscate the BTC's on only these 2 addresses that belong to Satoshi
There are thousands of these Satoshi addresses available to anyone
https://www.blockchain.com/btc/block/8888
https://www.blockchain.com/btc/block/11111
Really? Much of my country was built on things like beaver-pelts being used along with real money to buy things.
Exactly right! This is all part of the dollar milkshare theory. This one guy predicted this dollar rally, just because the world needs dollars like crazy given everything, including add debt, it priced in USD. But then after this rally comes the big crash. No country will want to deal with this system ever again. As crazy as it sounds, on a very recent podcast as well with Preston Psych, the expert mentioned that Putin was tired of getting paper dollars for his precious commodities, so this party explains the invasion.
The entire world is itching to move away from the dollar, and even the US. They know they have to supply the world with dollars, and its a difficult task. It was in this video where the guy said the world needs a global reserve currency that no one country can manipulate. And then it all comes together for where this is all heading.
Dalio has a different opinion on that. But I assume you are much smarter than the guy who runs the world's biggest hedge fund. Thank god that in this day and age we don't have to coat-tail these secretive funds, when all we have to do is listen to every random Joe-Blow on an internet forum who trades out of his retail account 
With that kind of mentality, you would have sold all the BTC's you bought at $30 at a few hundred $ per BTC on the way up to $1200 or definitely on the way down to $150
Guaranteed you would have sold. You do not have the emotional strength to hodl on
this is where you are wrong. If I make a plan, i follow it without deviation. But no one can know the future. USDT launched in 2014, if I recall BTC went into winter. The subsequent push to 20k was all Tether induced.
I can appreciate what you said about making a plan and sticking to it and that would have worked since you mentioned you would have bought a set amount
Tether started in 2014, but the actual tokens did not get distributed (printed) on the network until 2015
The 2017 bull market was because of ICO boom. Ethereum really delivered on its use-case of smart contracts
I was there and profited a nice chunk, but nowhere near the returns had I jumped into Eth rather than playing XMR (did well) and other coins
Put it this way, I saw Ethereum go from $2-3 to $20 and thought, oh it's done, saw it go it to $100, and thought that's it, not much more gains left, and it went all the way to $1400 during that bull market
Of course, I could have also participated on the Ethereum ICO a couple of years before that, but that's just a complete miss on my part
I was too busy at my job, working over time and when I was not working I was mining altcoins based on sha-256 algo (Bitcoin forks altcoins, like Chikuns, Diem v1/v2, etc)
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I have a question for you, RedDuke
Why did Bitcoin crash 85% from $20,000 to $3,000 in 2018 to 2019 when Tether could have printed billions upon billions to support it?
If I recall correctly, they “only” printed like 4 billion before the crash. It took time to push it higher, I guess they were waiting if they get hit by regulators, once they realized no one coming for them, they just printed almost 80 billion and pushed crypto to levels most have not seen coming.