The Big Tether Short

[NoahA]

I have a stack of physical silver, it has a tactile quality but is also quite heavy. After hearing your story, most likely gonna cash it in for some crypto synthetics that are pegged to silver. Thanks for sharing your experience. The crypto infrastructure is just way more developed now and the relative risk is quite less compared to back then.

Yes, I like the tactile feel, but jesus, I wanted to protect my assets. It is so true how guys like Saylor and others say what you want is to store your labor expenditure. That work I put in making the money has actually been devalued in 9 years.

I see now how strong the manipulation game is, and although silver and gold will always have value, governments have so much control. It will never be 50k per ounce or some stupid value like that. Do I want to keep some for a rainy day if internet goes out? Sure, but if all that the world has to trade with is gold and silver, I doubt I will be feeling very rich since the world will be burning down.

 

[Sprout]

I'm not sure how much of an influence a halving will have now. So who cares if the miners get half the amount of BTC they used to. They were still plugging away when it cost more to mine than what BTC was worth. Those days are probably never going to come back anyway. The miners seem to be holding what they mine. Its almost a worry to be honest that BTC isn't worth more now. You hear about how little is on exchanges, how institutional investment is coming, etc, so we probably just need a catalyst to push it over 100k and 5 digit prices will never be seen again.

Some folks think PlanB's s2f model is broken, but 100k on avg is what the model predicts for BTC in 2 yrs time at the latest.

Since BTC futures is cash settled and not BTC settled, that's possibly the source of price suppression.

 

[Heydrrich]

I'm not sure how much of an influence a halving will have now. So who cares if the miners get half the amount of BTC they used to. They were still plugging away when it cost more to mine than what BTC was worth. Those days are probably never going to come back anyway. The miners seem to be holding what they mine. Its almost a worry to be honest that BTC isn't worth more now. You hear about how little is on exchanges, how institutional investment is coming, etc, so we probably just need a catalyst to push it over 100k and 5 digit prices will never be seen again.

Yeah so dont worry about it, that is part of the psyop. In 2017 it was 20k and a few weeks ago it was 30k. The correlation it has with silver right now is never going to be exceeded with large amounts, in the favour of buttcoin, it is more likely that the inverse happens. How can a bunch of code ran by some real life losers on the centralized cloud AWS more than all the silver in the world, use common sense .The distribution keeps getting more and more skewed to the 1% in favor of the whale exchanges (that pay tax and is in directly owned by USgov just like that, since all those CEOs have nowhere to hide when the IRS knocks on their door, and thats why they all comply with ID registration), insofar that crapto is 'for the people'. Dont buy crapto in 2022 and expect to get rich, you might aswell buy AMAZN since crapto depends on AMAZN for the most part.

Crapto is the trojan horse that is paving the way for governments to introduce digital money, which is easy to materialize when the infrastructure is there. Just send a message to bitfinex mentioning that you own their business or else they can flee to El Salvador where they will be either be tortured to death by cartels for not hand over their private keys. You think those guys give a F about your crapto scheme ?? US has been on the Tether case since 2016, you think you know everything and every deal that has been made behind close doors ? Tether is 70% of crypto, why do you think Russia and China have been trying to ban crapto for the longest time. Its all a scam.

Saylor might be a CIA spook or a deep fake psyop as far as a I care, Ive never seen the guy IRL.

 

[NoahA]

Yeah so dont worry about it, that is part of the psyop. In 2017 it was 20k and a few weeks ago it was 30k. The correlation it has with silver right now is never going to be exceeded with large amounts, in the favour of buttcoin, it is more likely that the inverse happens. How can a bunch of code ran by some real life losers on the centralized cloud AWS more than all the silver in the world, use common sense .The distribution keeps getting more and more skewed to the 1% in favor of the whale exchanges (that pay tax and is in directly owned by USgov just like that, since all those CEOs have nowhere to hide when the IRS knocks on their door, and thats why they all comply with ID registration), insofar that crapto is 'for the people'. Dont buy crapto in 2022 and expect to get rich, you might aswell buy AMAZN since crapto depends on AMAZN for the most part.

Crapto is the trojan horse that is paving the way for governments to introduce digital money, which is easy to materialize when the infrastructure is there. Just send a message to bitfinex mentioning that you own their business or else they can flee to El Salvador where they will be either be tortured to death by cartels for not hand over their private keys. You think those guys give a F about your crapto scheme ?? US has been on the Tether case since 2016, you think you know everything and every deal that has been made behind close doors ? Tether is 70% of crypto, why do you think Russia and China have been trying to ban crapto for the longest time. Its all a scam.

Saylor might be a CIA spook or a deep fake psyop as far as a I care, Ive never seen the guy IRL.

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.

 

[Heydrrich]

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.

You have to understand 'Bitcoin Dominance'. The total cap of crapto exist of two things: 1) Bitcoin itself and 2) Altcoins/(i.e. Shitcoins). The dominance of bitcoin is ~ 40% and the total marketcap of crapto is: ~ 1.8 Trillion, so you do the math how much money is in this game that is not for Bitcoin but for 'Shitcoin'. All those 'Shitcoins' are supposed to make crapto great and not as one dimensional as Bitcoin. Reality is that most of crapto is just a 'decentralized' topping on top of a centralized AWS base.

 

[NoahA]

You have to understand 'Bitcoin Dominance'. The total cap of crapto exist of two things: 1) Bitcoin itself and 2) Altcoins. The dominance of bitcoin is ~ 40% and the total marketcap of crapto is: ~ 1.8 Trillion, so you do the math how much money is in this game that is not for Bitcoin. Those 'Altcoin' all run on AWS for the most part.

All those 'Altcoins' are supposed to make crapto great and not as one dimensional as Bitcoin. Reality is that around 60% of crapto is just a 'decentralized' topping on top of a centralized base (i.e. SCAM and nothing really changed in terms of technical progress).

Yes, I think all those altcoins are huge areas of risk for total destruction. I'm not a fan of NFTs, but I imagine smart contracts can be very popular one day. I also get that the metaverse can be a big thing one day, but who knows.

The thing though is that all that money can one day make it to BTC. With the lightning network, BTC might be all that is necessary for a world reserve currency and payment system. Other coins can exist to do other things, but clearly there is probably be only a few winners.

But nobody thought BTC would ever hit 50k. If I bought at $100, I doubt I would have held for $1000. If I bought at 1k, I doubt I would have held for 50k. But now at 50k, I no longer doubt that it can reach 500k. BTC is still only about 10% of the market cap of gold, and even that is a small market when you look at how much "value" there is in the world. Seriously, when you take a deep dive into all the forces at play in the world right now, its not difficult to see how a digital currency outside of government control is absolutely the next revolution, just like oil or electricity or the internet were.

 

[Heydrrich]

Yes, I think all those altcoins are huge areas of risk for total destruction. I'm not a fan of NFTs, but I imagine smart contracts can be very popular one day. I also get that the metaverse can be a big thing one day, but who knows.

The thing though is that all that money can one day make it to BTC. With the lightning network, BTC might be all that is necessary for a world reserve currency and payment system. Other coins can exist to do other things, but clearly there is probably be only a few winners.

But nobody thought BTC would ever hit 50k. If I bought at $100, I doubt I would have held for $1000. If I bought at 1k, I doubt I would have held for 50k. But now at 50k, I no longer doubt that it can reach 500k. BTC is still only about 10% of the market cap of gold, and even that is a small market when you look at how much "value" there is in the world. Seriously, when you take a deep dive into all the forces at play in the world right now, its not difficult to see how a digital currency outside of government control is absolutely the next revolution, just like oil or electricity or the internet were.

Like I said, there is no currency outside of government control, it is an extension of the current monetary system owned by the US Gov in the form of Tether. You think you can piggybank on the dollar and create it out of thin air and walk just like that? All the exchanges require IDs, basically everything requires your ID in crapto and every transaction is there to be publicly seen. You are just making things easy for 'Them'. It is already hijacked. Crapto retards really are on a different level.

If you are a big player and you are not playing by the rules, the only thing you will see is a bullet. The government is fine by the occasional small time player that makes it big (which is highly unlikely since it is 2022 instead of 2012) as long as you obey the tax man.

 

[NoahA]

Like I said, there is no currency outside of government control, it is an extension of the current monetary system owned by the US Gov in the form of Tether.

I think you're trying to say that BTC relies on Tether and that simply is not true. If Tether dies tomorrow, sure, BTC price will drop, but it will live on. BTC is 100% outside of government control, and this one of the reasons why it has the best chance for survival.

 

[Heydrrich]

I think you're trying to say that BTC relies on Tether and that simply is not true. If Tether dies tomorrow, sure, BTC price will drop, but it will live on. BTC is 100% outside of government control, and this one of the reasons why it has the best chance for survival.

So what... as crapto companies are not anonymous they will pull the same scheme as they did on Tether/Bitfinex. Crypto is fake. You can't outrun a bullet with your USB stick full of crapto.

If you want to cash out and make use of the 'system' it is not able to be anonymous, so how is BTC 100% outside gov control when they already own 20-50% right out of the gate (if you want to be a normal person, and pay tax). Or do you want to trade your USB stick full of crapto via Craigslist in a dark alley for cash in the middle of the night ? Good luck.

Ok so what if governments fall, since that seems to be the dream of all the crapto utopians. Gold and Silver will have a relative higher worth anyway.

Might as well book a one way ticket to El Salvador if that is your cup of tea. What are you going to do ? Party with all those real life loser geeks that lucked out on internet money ? .......... Beware of the cartels......

There is no crapto revolution and there never has been one, you seem to not know who you are up against.

 

[Pekelo]

Oh, I have to have fun with this dude.

BTC is 100% outside of government control,

Dude seriously, stop sniffing the glue. Or did you forget when all the Chinese miners moved to Texas because of the action of the Chinese government?

I see you are well entrenched in your opinions and that is fine.

In plain English: I don't have a counter argument for you.

But nobody thought BTC would ever hit 50k.

Nobody thought my lottery ticket would hit the jackpot, but here I am with that 100MM. So stop this crypto nonsense and start to INVEST in the real thing, LOTTERY!