We counter everything they say, then ... silence. Proving our points.
Can't we just be honest about it, instead of holding grudges or sour grapes from not recognizing what this is after ~500 deaths and resurrections?
I could dig back years in this thread and find all of your various absurd Bitcoin price predictions, but I'll spare you the embarrassment.
Gold is a store of value and it has occasionally in its history had 30 - 60% drawdowns. Store of value is measured by long term performance not short term performance so it’s not clear to me exactly what point you are trying to make here.
You could also dig back years and see all of us are correct in the direction of BTC over time, the only important thing, not short term guesses (which don't matter unless you are trading them and losing BTC or USD as a result). You'd think someone would know this. But you don't, because you're on the wrong side of all of this, and have been "if you dig back for years" and look at it all.
Precisely.
I just dug back for years and saw that scorpion indeed has been wrong about BTC for ... ever. Embarrassing, if you ask me.
Gold has had long term bear markets (1980-2001 was brutal) but is not nearly as volatile as Bitcoin, which has plunged 80% numerous times over its short history.
You have been comically wrong in your predictions for the past five years, a time period over which Bitcoin's price is basically flat. You would have done much better, while assuming much less risk, buying stocks and gold over that time frame. All of your arguments for Bitcoin are based on looking at its price appreciation starting pre-2021. But that is totally irrelevant when you are advocating that people buy in today. Bitcoin is a terrible investment unless you have a time machine.
Bitcoin's entire value proposition lies in its brand, which has been hugely tarnished over the past few years. We have ETFs, we have corporate treasury companies, we have the President of the United States and his sons directly involved promoting Bitcoin. And yet... this is the best it can do? Currently sitting around $65k? Who else exactly is left to buy the bag at this point? No one is interested. It's hilarious to think where Bitcoin would be if Michael Saylor wasn't almost singlehandedly propping up the market with his Ponzi scheme company. $30k? $20k? We're probably getting ballpark with those numbers.
The growth of USD stablecoins will end up killing off Bitcoin for good over the next decade, rendering its sole remaining use case (fast global transactions outside the banking system) utterly obsolete. Thus the great irony: Bitcoin, which maxis have been championing for years as the killer of the U.S. Dollar, will fade into irrelevance as USD-denominated stablecoins make the mighty dollar more powerful than ever before, extending its life as the global reserve currency for decades to come. Bitcoin will be remembered as nothing more than a footnote in financial history, regarded as an amusing sideshow that made and lost people fortunes over its short life before its final, spectacular implosion, but which at least gave birth to the stablecoin idea, which will ultimately prove much more enduring and revolutionary.
The fact that you were just better off buying stocks hits pretty hard at this point. I genuinely hope it turns around for you guys as I know more than one guy here who was pinning their future plans on btc but I think a little humility about the situation goes a long way here.
this is if you bought the absolute top in 2021 and did nothing else until now...very misleading
weekly DCA, from August 2021 according to grok:
Rough estimate (assuming $100 weekly DCA, ~240 purchases):
Total invested: ~$24,000.
Average cost per BTC: Likely in the $30,000-$45,000 range (weighted lower due to 2022 buys).
Accumulated BTC: Approximately 0.6-0.8 BTC (more if heavier buys in lows).
Current value at ~$69,000/BTC: ~$41,400-$55,200.
Approximate return: +70% to +130% total (or annualized ~12-20%), with profit ~$17,000-$31,000.
This is conservative; actual could be higher due to buying more in the deep 2022 dip. Lump-sum buy in Aug 2021 (~$40k-$47k) would be roughly flat to +50% at current prices, but DCA outperforms lump-sum in volatile/declining-then-recovering periods like this.
stablecoins are not permissionless...they are just fiat on less efficient rails
At least you admitted that you are just taking the 2021 high as your starting point, lol
You keep saying this but still don't understand fiat or BTC, which is why you keep stating this kind of thing, which actually makes no sense. Debased dollars (no matter what kind) are NOT going to be desired, continually, compared to actual money. If that were the case, most wouldn't be buying PMs right now, which you won't mention (anti fiat that's why).
Again, timeline and pick your starting point (or stock). Will you all be back in Q4 or Q1-2 next year? That's the more important question.
Indeed, he always sticks to the misleading guns, it's all he's got.
It's a power law for a reason, scorpion. Again, regression .95 or so
you can't argue math - well, maybe you'd be the type that would try with all those feelz over there (or sour grapes)
Who cares? Stablecoins are actually useful as a currency, unlike Bitcoin, which is why people want them. Almost all of Bitcoin's demand stems from speculation on price appreciation. A vanishingly small percentage of people actually transact with it regularly as currency.
First of all, most people are NOT buying PMs (perhaps they should be, but they aren't). Secondly, stablecoin dollars will be (and are already) in very high demand overseas for all of the reasons that you guys love to tout Bitcoin in those scenarios: unstable local currencies, repressive governments, inflation, etc... People aren't buying stablecoins as investments, they're buying them to facilitate commercial activity in a more stable and fluid denomination than their native currency. The fact that stablecoins will inflate is immaterial and working as designed. They are disposable currency, not hard money or investments. And I understand perfectly well how and why you consider Bitcoin to be hard money (the hardest ever!), I just disagree on that assessment and think it's more of a fad - unlike gold, which has proven its enduring appeal for literally millennia.