The Big Tether Short

[NoahA]

so how is BTC 100% outside gov control when they already own 20-50% right out of the gate

If this was truly the case, and you need to show proof of this, it would make the US gov extremely wealthy.

You see, I believe that the future of money will be a hard currency that you can't print out of thin air. So for the government to have money, they will need to tax citizens and distribute the collections. They can of course mine it themselves, but I imagine that will be left up to the private sector since they can just collect what they need through taxes.

So if somehow all those lost coins are in the hands of the government, then the US will be extremely rich. But I know that you're just making random statements and don't really have a clue.

You can't outrun a bullet with your USB stick full of crapto.

I think running away with my pockets full of heavy silver will make me even slower! But what you don't understand is that I don't even need a USB stick, and I will assume here you mean a hardware wallet. I can literally memorize my seed phrase and not have to carry anything to run away with my riches. Comments like this show you clearly haven't done a deep dive into BTC and hence have no idea how this all works.

 

[Heydrrich]

If this was truly the case, and you need to show proof of this, it would make the US gov extremely wealthy.

Look up the tax rates if you want to cash in your crypto per country. In some countries it is 50%.

You see, I believe that the future of money will be a hard currency that you can't print out of thin air. So for the government to have money, they will need to tax citizens and distribute the collections. They can of course mine it themselves, but I imagine that will be left up to the private sector since they can just collect what they need through taxes.

No no no, all the signs are pointing that we are going more and more towards a digital economy. Politicians are all the pocket of Big Money, so what are they going to do about it ? Be fair to the people for once be going back to a hard currency ? Then the scam is over. That is not going to happen.

So if somehow all those lost coins are in the hands of the government, then the US will be extremely rich. But I know that you're just making random statements and don't really have a clue.

What are you talking about, how is this related to the paragraph above.

I think running away with my pockets full of heavy silver will make me even slower! But what you don't understand is that I don't even need a USB stick, and I will assume here you mean a hardware wallet. I can literally memorize my seed phrase and not have to carry anything to run away with my riches. Comments like this show you clearly haven't done a deep dive into BTC and hence have no idea how this all works.

Sure if you buy ETH a.k.a. the AWS network.

 

[Ed48]

I bought a good amount of silver in 2012/2013 thinking it was going to make me rich. I of course heard of BTC, but didn't want to risk losing money. So here I sit on a bunch of silver that is worth about the same, while inflation has been raging, while I lost a good amount of purchasing power, while the stock market has done really well, and while I lost out on at least 10,000%, if not more, in gains from crypto.

So clearly silver has proven to be a very bad bet since anything else would have practically been better. Going forward, do you think its more likely for silver to double and hit $50, or for BTC to double and hit $80k?

Me too. Well actually leveraged plays like miners which have done even worse.

I seriously considered ditching them in early 2019 and switching to BTC but didn't. Oh well.

I could switch now but I won't. Maybe I'm making the wrong choice again, we shall see. Who knows, maybe this time is different.

 

[NoahA]

What are you talking about, how is this related to the paragraph above.

You said that the government has 50% of the coins because they are behind this whole crypto world. The only way they can have that many is if they control the roughly five or six million that are unaccounted for and haven't moved for a very long time. There is no way the government can have 50% of the coins if you just consider the new ones minted in the past few years given that there are so many individual investors and institutions involved now. When you look at the addresses that have more than 1,000 coins I think most of them are institutions. So where does the government have their 50% of the coins?

 

[Sprout]

Wow....

I think Amazon is actually trying to prevent crypto mining from using their services to be honest. The only way to make mining economical these days is specialized machines, and I don't know if this is the type of hardware AWS uses.

But regardless, I see you are well entrenched in your opinions and that is fine. But can you at least acknowledge that silver has been a horrible investment since I got in around 2013? Everything else was practically better, be in SP500, real estate, crypto. Going forward it is anybody's guess, but I would be shocked if BTC didn't continue to appreciate in value at a much faster rate than silver. People think previous metals might one day jump overnight with some sort of peg announcement by a government official. But I think that crypto will steal this spotlight and a fraction of a bitcoin will leave you very wealthy.

To see a modern specialized liquid cooled BTC mining facility, Start at 2:40

 

[Heydrrich]

You said that the government has 50% of the coins because they are behind this whole crypto world. The only way they can have that many is if they control the roughly five or six million that are unaccounted for and haven't moved for a very long time. There is no way the government can have 50% of the coins if you just consider the new ones minted in the past few years given that there are so many individual investors and institutions involved now. When you look at the addresses that have more than 1,000 coins I think most of them are institutions. So where does the government have their 50% of the coins?

If you want to cash your crypto you have to pay up your tax, or eventually they will take your house, your car, everything. What's the difference if you pay up 20% afterwards ? No the government does not own your bitcoin physically, but you always have to account for that tax cut. I guess you want to live a normal life ? Then you have to pay up.

And i'm not even talking about Tether, which the US government is balls deep in since forever. Haven't you read those articles about settlements throughout the year ? If you don't think the US is balls deep in Tether than what you believe is that some unknown charlatan can piggyback off the dollar (a US concept) print billions of them, and walk just like that ? Never bro it does not work like that in real life.

 

[johnarb]

Look up the tax rates if you want to cash in your crypto per country. In some countries it is 50%.

Are you talking about European countries?

Countries in Asia are more friendly to Bitcoin and cryptos and certain middle-eastern places like Dubai


We are very blessed to be living during this time of Bitcoin and cryptos

Let's say you were living in the following countries below:

• Canada and you don't believe in the vaccine and now a prisoner in a country that you are not allowed to travel in and out, and always in fear if you speak out that your bank accounts and insurance and all your finance destroyed by the government
• Lebanon and during their financial system collapse and cannot withdraw from the banks
• Turkey and your money has been devalued over 90% in the past 20 years
• Argentina and your money has been devalued over 90% in the past 30 years
• Venezuela and your money has been devalued over 90% in the past 20 years
• US and your money is being devalued over 7% (officially, but unofficially higher) over the last year or 2

Bitcoin and cryptos are monies that provide you freedom of choice

 

[Heydrrich]

Are you talking about European countries?

Countries in Asia are more friendly to Bitcoin and cryptos and certain middle-eastern places like Dubai


We are very blessed to be living during this time of Bitcoin and cryptos

Let's say you were living in the following countries below:

• Canada and you don't believe in the vaccine and now a prisoner in a country that you are not allowed to travel in and out, and always in fear if you speak out that your bank accounts and insurance and all your finance destroyed by the government
• Lebanon and during their financial system collapse and cannot withdraw from the banks
• Turkey and your money has been devalued over 90% in the past 20 years
• Argentina and your money has been devalued over 90% in the past 30 years
• Venezuela and your money has been devalued over 90% in the past 20 years
• US and your money is being devalued over 7% (officially, but unofficially higher) over the last year or 2

Bitcoin and cryptos are monies that provide you freedom of choice

Most of those countries are third world countries run by thugs. For Canada; if Trudeau were to leave they can change the current regulation within a day. I never said investing in currencies would be a good idea. You can invest in a crapto and lose 90% in 1 year instead of 20.

 

[NoahA]

Most of those countries are third world countries run by thugs. For Canada; if Trudeau were to leave they can change the current regulation within a day. I never said investing in currencies would be a good idea. You can invest in a crapto and lose 90% in 1 year instead of 20.

The sad thing is that I think the majority support what Trudeau is doing. The important thing is to have a choice and Bitcoin gives you that choice and freedom.

Nobody is saying to convert all your dollars into crypto all at once. But I think having 10% of your assets in crypto is absolutely the smart thing to do these days just like I would say to hold some of your assets in physical precious metals. As we see in Ukraine having real estate means nothing if you're forced to flee.

 

[johnarb]

...Bitcoin gives you that choice and freedom.

Nobody is saying to convert all your dollars into crypto all at once. But I think having 10% of your assets in crypto is absolutely the smart thing to do these days

I cannot express into words how much I agree with this

Yes, we will pay taxes, just like on any investment we make

If we had turned $10,000 into $3M by investing in Amazon 20 years ago, we have to pay taxes on the portion that we sell to turn into fiat/cash

The big difference is that we can take our Bitcoin and cryptos anywhere in the world, while someone holding the stock investments in the US or Canada cannot

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Sunday food for thought:

If a nuclear bomb was used anywhere in the world tomorrow, have you thought about your life situations where you live?

The nuclear bomb that explodes could be anywhere, maybe in Ukraine, maybe in India/Pakistan, maybe somewhere in Asia like Taiwan or Japan

Maybe it's halfway across the world from where you live

Quite possibly, by the time you leave your house, there will be traffic jams everywhere and the nearest grocery stores would be depleted of the products of basic necessities

Bitcoin and cryptos people have all the freedom to go anywhere in the world if their place of residence is not suitable, i.e. breakdown of society