Problems with his understanding:
It’s crashing oh no! Cherry pick a short time period to show that bitcoin is crashing.
1. Conflates bitcoin with crypto, repeatedly.
2. Does not understand money. “Bitcoin can be copied, look at all the other cryptos”. Yes the technology can be copied, so does that mean Zimbabwe dollars are worth as much as US Dollars? It’s the same technology…he has no concept of network effects or decentralization…or what makes one money different from another money.
3. “No utility.” OK - so an asset that can’t be taken by greedy governments, or ex-wives, and can be transported anywhere and given to anyone I want that can’t be stopped has no utility? Seriously? Not to mention it holds its value into the future?
4. Doesn’t understand MSTR - cash reserves for dividends. That was done to pay lower interest rates and become investment grade…as the lack of a fiat cash reserve cost them a higher credit rating. The goal is to open up larger pools of capital and lower dividend rates. $2 billion in fiat isn’t much when you have 740,000 BTC
5. “There’s no earnings, no dividends! It’s a pyramid scheme!” OK…what about gold?
6. Clearly does not understand the difference between currency and money.
I get annoyed with Boyle, because he has such a midwit normie take on economics and has an incomplete understanding of a lot of things. It seems like he is getting fed this stuff from somewhere.
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Given that 95% of Bitcoin has already been mined, and no actual economic value was produced in exchange for any of it (just electricity wasted), why should anyone in the future voluntarily exchange their goods/labor for Bitcoin?
Can you guys at least be honest about your fantasy of becoming neo-feudal lords via owning Bitcoin, and stop pretending that you are advocating for some sort of perfectly fair economic system? If you were actually interested in fairness and honest value exchange, you would advocate for some sort of distribution mechanism to redistribute Bitcoin out of the hands of whales (where the vast majority of it is currently hoarded) and into the hands of people who would at least theoretically use it for exchange. But literally no one in the Bitcoin space is advocating for this. They're all just trying to pump their bags.
And to be clear, I don't fault them (or you guys) for wanting to pump your bags. It's only natural. But it's just one more reason why Bitcoin will never be what you think it will be: because past a certain point, there is simply no incentive for any new players to join the game.
In a free market rising prices causes redistribution which is what will happen with Bitcoin over time whales will sell down some of their holdings to buy mansions, Ferraris, yachts, private islands etc or to diversify into other assets and other people will buy up some of those coins that the whales sell.
The only valid point in his video in my humble opinion is that the skyrocketing increase in price was due to new participants. ETFs bringing in new money (increasing demand in the hundreds of bookings).
I have bitcoin in a Wasabi wallet (mixed) sitting there “collecting dust”. But now and then (thanks to ETFs) I can now gamble the ups and downs with my IRA account (no capital gain taxes).
In a simple supply/demand view, what would be the catalyst to push Bitcoin above the $125k ATH?
Exactly...couldn't have said it better myself.
If you don't value bitcoin @scorpion why should anyone give it to you?
As far as mining creating economic value: its not the new bitcoins created that is the value provided: it is the network security. The block subsidy and fees are simply the transfer of value from the users of bitcoin, to the security providers of bitcoin.
Great idea! Like most things about bitcoin, its already been done and thought of...Enter a captcha, get 5 bitcoins!
Iceland actually launched their own cryptocurrency "Auroracoin" and airdropped it to every citizen...an even distribution. What happened next? It had no real market value, so most people didn't trade or use it. It was meant to be used as a national currency, but internet money doesn't see borders. Eventually, people outside of Iceland started trading for it. The smartest Icelanders sold their Auroracoins for bitcoins. Just like a lot of people sold the free 5 bitcoins they got from fountains for fiat.
The people that valued bitcoin...why should they give it to people who don't value it? How is that fair?
Maybe from a feminine point of view, where in the game of life, men have to run the race, while women just wait at the finish line to pick the winner...
@scorpion I'm sure you can still afford a share of the bitcoin network: If 8 billion people each had an equal share of the 21 million bitcoins, they would each have 242,000 satoshis, or about $140 in todays cuckbucks. See, you could afford an equal share of the network, if you truly valued it, but you don't, so you won't.
None of us are pumping our bags...that's the old world, the fiat world. I don't do this to try to benefit myself, I do it for the benefit of others (hard to imagine, from a fiat lens, I know). There is no point to which bitcoin stops going up! Bitcoin has no top because fiat debasement will continue, forever. It mathematically has to.
OK I do it to benefit myself, in that it helps me test my ideas about bitcoin, and that's something I enjoy doing
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Yeah, more money in bitcoin makes the price go up.
Not sure if there is any one catalyst. Maybe more small and medium companies start to keep it as a balance sheet asset, instead of cash...(profitable companies, not meme stonks.)
Also derivatives like STRC will also pump the price, since Strategy will buy in proportion to how much they sell (STRC was the largest IPO of 2025 and is almost $4 billion last I checked). For cash balances, there is nothing better than STRC right now and I bet it will double every year for awhile...by 2027 I bet it is close to $10 billion.
^
All of this is just crazy circular logic talk at this point in time as the air has quite obviously just been sucked out of bitcoin (and crypto in general). If you are involved in retail sales where you interact with actual human beings doing real world point of sale economic exchange you can just feel it on the ground that the human psyche has lost it's interest and fascination with bitcoin. Nobody talks about it, nobody mentions it, much less do they ask to use it or if you accept it (gold is a different story as you'll actually overhear customers talking about it). Customers talk about Zelle, and Apple Pay, and CashApp, and Venmo, and they ask questions like, "Do you accept cash?" but not once has a customer ever asked if we accept bitcoin.
The price is tanking and will continue to tank because nobody understands it (a feature not a bug) and because you can't print more of it and a bunch of (((whale))) jews are hording the rest. But of course the jew teenager Robber "Barron" Trump pumped and dumped for $300 million right in your face, but don't believe your lying eyes on that with (((It's))) corresponding price drop (once again leaving the little guy holding the bag).
Yeah, let the printing presses go "burrrrr," the US dollar is keeping the US electric grid going 24/7, 365 because there is not a finite supply of them (let that sink in). The US dollar has the most reliable track record out there. Don't ever let astrologists and tarot card readers who are gambling addicted cultists praying for a Mad Max Scenario to unfold try to tell you what the future is going to be.
All of this is just crazy circular logic talk at this point in time as the air has quite obviously just been sucked out of bitcoin (and crypto in general). If you are involved in retail sales where you interact with actual human beings doing real world point of sale economic exchange you can just feel it on the ground that the human psyche has lost it's interest and fascination with bitcoin. Nobody talks about it, nobody mentions it, much less do they ask to use it or if you accept it (gold is a different story as you'll actually overhear customers talking about it). Customers talk about Zelle, and Apple Pay, and CashApp, and Venmo, and they ask questions like, "Do you accept cash?" but not once has a customer ever asked if we accept bitcoin.
The price is tanking and will continue to tank because nobody understands it (a feature not a bug) and because you can't print more of it and a bunch of (((whale))) jews are hording the rest. But of course the jew teenager Robber "Barron" Trump pumped and dumped for $300 million right in your face, but don't believe your lying eyes on that with (((It's))) corresponding price drop (once again leaving the little guy holding the bag).
Yeah, let the printing presses go "burrrrr," the US dollar is keeping the US electric grid going 24/7, 365 because there is not a finite supply of them (let that sink in). The US dollar has the most reliable track record out there. Don't ever let astrologists and tarot card readers who are gambling addicted cultists praying for a Mad Max Scenario to unfold try to tell you what the future is going to be.
Bitcoin isn’t the dominant money yet. When it is, people will demand it. I have seen more interest over the last 2 years than ever before…enough at work that I will be facilitating a Socratic seminar on bitcoin topics soon.
So….is it more fair that whales hoard it or distribute it? You just said they are doing both…which one are you claiming is unfair?
Are you claiming that counterfeiting new dollars, without providing any work or value, is necessary to have electricity? I don’t understand.
Bitcoin prevents Mad Max…number go down for everyone if we get Mad Max.
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Judoka
Catholic
STRC isn't selling. This past week Saylor sold 0.
Strategy sold 3.4 billion in STRC since the IPO barely 6 months ago ...so not selling in a week proves what exactly?
Judoka
Catholic
It's amazing this stuff is still said out loud. It's like they can't even do thought experiments comparing particular fiat. It's not that they can't, it's that they won't, which is an interesting and common human dilemma/frailty.
We've said it a million times, and there is no claim otherwise, it has clear, demonstrable value. In a world of increasing taxes, confiscation, surveillance, etc - you don't see value in BTC? Really? Laughable.
It's a wonderful time to buy and/or swing trade (1 year or 5-10) MSTR.
That's been the thing I've harped on, and even though I tell people they just put their fingers in their ears. Over and over. Willing ignorance.
It holds value, among other things (best money = best proxy for time and energy).
Now the socialist comes out. First it was the God State complex, which is all about the idol (central authority) pumping theirs, and immorally/unfairly to boot.
Yup.
How can you say this with a straight face given Bitcoin's price action over the past year? According to you and chance vought, Bitcoin was supposed to be well over 200k by this point.
I didn't say that I was advocating for redistribution - I said that anyone who was sincerely advocating for "perfect money" under the guise of fairness would do so. There's absolutely nothing fair about Bitcoin; 95% of it has already been mined and is being hoarded by whales. Anyone advocating for a Bitcoin standard is therefore in favor of having future generations economically enslaved to Bitcoin HODLers and their direct descendants. It's transparently obvious that this is the exact scenario you all fantasize about (and which you think all non-Bitcoin owners actually deserve for our rejection of Bitcoin).
I haven't even bothered posting in this thread in awhile because I felt bad for you guys.
Do a thought experiment for me (we've already done this, this'll just further prove the point): the ascent continues, though you still just focus (conveniently) on volatility. It continues to reach higher highs and higher lows. Is that not increasing and/or holding value?
You seem to think 8-11% debasement of the (best) fiat is "holding value", and the funny thing is that we know with certainty that at least continues, and likely it gets worse. Do you not understand there is no upside to fiat? And to boot, a catastrophic date with death, which we all KNOW will happen? It's odd when one thinks in real terms.
You could have bought at $1, $10, $50, $500, $5000, and next week you might be able to buy at $50k. That's not fair?
Why would you feel bad? You don't know that we've seen the dancing on the grave stuff, I don't know, 500 times before?
It's funny you think we care - rather, we know what happens end of this year and next. Dustin' those sandals off stuff.
Akchually: 467 times.
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@scorpion seems to think the people that bought at $25 are worried now that it later crashed to $2...which is literally what happened to early bitcoiners. Many of them panic sold, but a few didn't. Just like many will panic sell the next crash. If your have a high time preference, don't buy bitcoin.
I meant since the launch date of the IPO, not excluding the IPO issuance.
If whales are hoarding it, why is it so cheap now?? Seems to me whales are selling.
As soon as the feudal lords spend their bitcoin, it gets distributed to everyone they pay.
In the current system, when the feudal lords screw up (2008) the losses are socialized to everyone else.