Bitcoin and Crypto Thread

I suggest reading The Creature From Jekyll Island, it explains this in great detail and clearly.
You're not breaking new ground here. I literally read this book back in 2010, in the wake of the GFC and near-meltdown of the banking system. It's definitely a great read and I also recommend it, as it is extremely illuminating in regard to the banking system and how fiat money actually works. That being said, as I've argued over and over, just because fiat has flaws does not logically make Bitcoin a more attractive alternative. Indeed, the fact that we are currently witnessing Bitcoin being coopted into the very banking and financial system you so vehemently oppose proves my point. The system clearly does not view BTC as a threat, that is blindingly obvious at this point, unless you believe these people are truly so stupid that they are excitedly welcoming the agent of their own demise into their midst.
Dude, I don't have to work anymore and we're STILL early.
Haven't you only been buying BTC for the past 5 years or so? Post-2017 at least? If you've made that much from it then you must have been essentially all-in this entire time. That's really no different than someone who went all-in on Tesla or Nvidia stock and made a similar killing, which many people did. But putting your entire nest egg in a single basket is extraordinarily risky and ill-advised. I sincerely hope you will consider diversifying at least a sizable portion of your assets going forward. If you've already made enough to comfortably retire, why keep rolling the dice? Is it not just pure greed at that point?
If you want to call things names like Urkel and miss out on generational wealth, have fun staying poor. What can I say?
Please try to remain respectful even in the heat of argument. Remember that we all agree on the vast majority of issues, even if we disagree on this one.
Do you think it's a coincidence that scorpion isn't posting right now?
I'm still here. Your call about Thanksgiving is looking quite prescient at the moment, I'll give you that. Although the fact that this current pump is due almost entirely to Trump's win was nowhere to be found in your prediction. I asked you before but you didn't answer: do you think the Bitcoin price would have moved similarly with a Kamala win? Or would we have seen stagnation or even a plunge?
 
Bitcoin isn’t being co-opted, it’s being adopted, demanded, because to ignore it is not in their financial interests.

I don’t like banks, Wall Street or governments, but it is inevitable that they will use bitcoin. There is an important lesson that everyone in bitcoin learns eventually: you don’t change bitcoin - it changes you. They aren’t co-opting bitcoin: they are bending the knee.
 
Although the fact that this current pump is due almost entirely to Trump's win was nowhere to be found in your prediction. I asked you before but you didn't answer: do you think the Bitcoin price would have moved similarly with a Kamala win? Or would we have seen stagnation or even a plunge?
That went without saying. He wasn't in Nashville this year with RFK and the entire BTC community front running Kamala on the topic. I don't think a Trump made any material difference in the medium to long term, but it did speed up things so it is somewhat meaningful, especially for swing trader types.
Your constant dramatics and emotions are too much and don't belong in a discussion about an investment unless you're just trying to pump it to idiots....which doesn't belong here.
Do you actually believe I'm a "pump and dump" schemer or scammer? My posts on all topics speak for themselves. You should know better.
That being said, as I've argued over and over, just because fiat has flaws does not logically make Bitcoin a more attractive alternative. Indeed, the fact that we are currently witnessing Bitcoin being coopted into the very banking and financial system you so vehemently oppose proves my point. The system clearly does not view BTC as a threat, that is blindingly obvious at this point, unless you believe these people are truly so stupid that they are excitedly welcoming the agent of their own demise into their midst.
Scorpion, your logic is constantly corrupted, and you state things that other people don't say, which is not only annoying, it's in bad faith.

1. We have never made an argument that because fiat has flaws it makes BTC money. BTC itself makes bitcoin the best money. I suggest you study it. By the way, fiat on many levels IS the worst attempt at money, but for reasons we've told you (to steal from you). So it's not hard to say a lot of things are better, which makes your comment even weirder.

2. Now when BTC is adopted, you claim it's "coopted". Ha, "Heads I win, tails you lose!" If the government crushes it "I told you so" if they adopt it with everyone else, it's "coopted"! You're a joke.

3. As we've told you before, there's nothing they can do about it. It's just a matter of time. Pray to Caesar about your God State complex, or open your eyes.

I can see you now, "please Caesar, don't let these BTC guys win in their quest to displace your money. You have the God given right to keep stealing money from the laborers, through printing and debasement, loans and fractional reserve banking!"

As if they're worried about the peons they are stealing from. They should be worried about guys like you, who are trapped in a different age, but you play their game, like a good matrix participant.
 
You're a joke.
I've been extremely lenient with you for a long time in regard to your posting in this thread (which is always emotional and aggressive, and often insulting), specifically because I don't want to give the appearance of bias by disciplining a poster who I'm debating with. But I literally just requested (very kindly, I might add) for you to remain respectful while debating barely an hour ago, and this is what you come back at me with?

I'm not going to warn you again. If you can't maintain your composure and interact with other posters respectfully (please follow the example of @chance vought in this regard, whom I disagree with strongly but who always conducts himself like an absolute gentleman in these discussions) then you're going to be taking some time off from the forum.

Your views are welcome and appreciated here, but your arrogant tone and insults are not.
 
That went without saying. He wasn't in Nashville this year with RFK and the entire BTC community front running Kamala on the topic. I don't think a Trump made any material difference in the medium to long term, but it did speed up things so it is somewhat meaningful, especially for swing trader types.

Do you actually believe I'm a "pump and dump" schemer or scammer? My posts on all topics speak for themselves. You should know better.

Scorpion, your logic is constantly corrupted, and you state things that other people don't say, which is not only annoying, it's in bad faith.

1. We have never made an argument that because fiat has flaws it makes BTC money. BTC itself makes bitcoin the best money. I suggest you study it. By the way, fiat on many levels IS the worst attempt at money, but for reasons we've told you (to steal from you). So it's not hard to say a lot of things are better, which makes your comment even weirder.

2. Now when BTC is adopted, you claim it's "coopted". Ha, "Heads I win, tails you lose!" If the government crushes it "I told you so" if they adopt it with everyone else, it's "coopted"! You're a joke.

3. As we've told you before, there's nothing they can do about it. It's just a matter of time. Pray to Caesar about your God State complex, or open your eyes.

I can see you now, "please Caesar, don't let these BTC guys win in their quest to displace your money. You have the God given right to keep stealing money from the laborers, through printing and debasement, loans and fractional reserve banking!"

As if they're worried about the peons they are stealing from. They should be worried about guys like you, who are trapped in a different age, but you play their game, like a good matrix participant.

No I don't think you are purposely I think you're just really absorbed into making certain things your identity. But the way you carry yourself in regards to topics comes off arrogant and childish which goes double for this topic because it shouldn't have anything at all to do with emotions.
 
I've been extremely lenient with you for a long time in regard to your posting in this thread (which is always emotional and aggressive, and often insulting), specifically because I don't want to give the appearance of bias by disciplining a poster who I'm debating with. But I literally just requested (very kindly, I might add) for you to remain respectful while debating barely an hour ago, and this is what you come back at me with?

I'm not going to warn you again. If you can't maintain your composure and interact with other posters respectfully (please follow the example of @chance vought in this regard, whom I disagree with strongly but who always conducts himself like an absolute gentleman in these discussions) then you're going to be taking some time off from the forum.

Your views are welcome and appreciated here, but your arrogant tone and insults are not.
So I know, what are you stating is arrogant or tone you don't like?
 
No I don't think you are purposely I think you're just really absorbed into making certain things your identity. But the way you carry yourself in regards to topics comes off arrogant and childish which goes double for this topic because it shouldn't have anything at all to do with emotions.
Do you think posters should quote and requote others making claims that they don't make? I'm curious.
 
So I know, what are you stating is arrogant or tone you don't like?
Insinuating that other posters are stupid because they disagree with you, telling them to have fun staying poor, calling them a joke, etc...

Remember the rule on the old RVF, "Be beta on the forum"? That's a good rule of thumb. Even more so here, really, given that this is a forum for Christian men. We should all try to remain humble and respectful in our interactions, especially when we disagree. I know you can do better in this regard, and I expect that you will.
 
So I buy straight Bitcoin and DCA but what is that fund or trust that tracks the price of Bitcoin?

Never mind found it: IBIT
IBIT (Blackrock) is the biggest, but if you are in the USA, check out FBTC (Fidelity Investments' BTC ETF). Almost all the other ETFs use Coinbase as custodian -- Fidelity custodies their own BTC.
 
IBIT (Blackrock) is the biggest, but if you are in the USA, check out FBTC (Fidelity Investments' BTC ETF). Almost all the other ETFs use Coinbase as custodian -- Fidelity custodies their own BTC.

This 100%…Blackrock gave us ESG, never liked Bitcoin, and essentially hates you. Fidelity has been in Bitcoin for a long time and custodies it themselves. If you have money held hostage in a retirement account, FBTC is the clear choice.
 
I believe, like with most things in life, balance is needed with most perspective and views.

Many Bitcoin 'Maxis' have essentially created their own religion (have seen images of people making BTC as the center of historical Christian imagery) and suffer from delusions of grandeur, insisting that one must hold on to the coin for an infinite period of time in order to obtain wealth. No wealth will be obtained unless one decides to sell. Period.
Now unless Bitcoin becomes a form of collateral or something else where they can leverage its value, it will be very difficult for these 'Maxis' to stop being poor unless they do in fact make a sale.
Life is not about avoid poverty and if you do hold wealth, use it for the betterment of society - as opposed to hoarding it further. Even if Bitcoin say replaces the USD, would all these digital millionaires sell? If you sell, you are entering the fiat system once again (which many refuse to do and vow to escape). The fiat system likely is not going anywhere - though it will change.

On the other hand, the graphs do not lie and Bitcoin as an investment and asset class is just too hard to ignore. Bitcoin can very well be the new digital gold and may become what real estate has now become for boomers, say 20-40 years from now. It (and many cryptocurrencies) have changed the lives of millions already. The technology is revolutionary (although still trackable in most cases) and does in fact put some power back in the hands of the masses. It would not be bad to add to one's portfolio as part of a diversification strategy and a potential store of value against the bottomless dollar.

There are many reasons for and against and the truth is, we will never know for sure if Bitcoin is the ultimate escape or if it was invented by Government to usher in the new digital age.

Bitcoin though offers hope and that is what attracts so many to it, hope for a better world and better future. All that hope just needs to be redirected for a better world.
 
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