Crypto Conversation

[Jeffrey]

Energy = mass times the speed of light squared.

The universe has a near-infinite amount of both mass, time, and light.

I don’t see what the problem is tbh.

When did you start drinking Wheat’s kool-aid?

[Section 15]

Climate change is a myth of liberals. The worldwide increase in massive fires, greater intensity hurricanes and cyclones, ice cap melting, droughts and floods are just coincidental.

Assume you just forgot the "/s" or perhaps you thought it was self-evident (I'd postulate an 80% probability of that).

However, just remember that on the internet, no one knows you are a dog (or the reverse).

BTW

[Kdogg]

Energy = mass times the speed of light squared.

The universe has a near-infinite amount of both mass, time, and light.

I don’t see what the problem is tbh.

Of course. The universe will be just fine. Not so sure about those humanoids on that third rock from that yellow dwarf star. The rock will be fine though for the next 6 billion years or so.

[Jeffrey]

Not so sure about those humanoids on that third rock from that yellow dwarf star.

The yellow universe will be fine. Everyone there drinks Pennsatucky’s “yellow drink".

[Skydog]

Assume you just forgot the "/s" or perhaps you thought it was self-evident (I'd postulate an 80% probability of that).

However, just remember that on the internet, no one knows you are a dog (or the reverse).

BTW

Your 80% confidence prediction was 100% correct. Woof.

[Wheat/"/"/"]

For anyone questioning why Bitcoin’s energy use for proof of work validation, which maintains a persons ability to control custody of their asset without a need for a trusted third party, is so important, I offer exhibit A.

Pay Pal floats the idea that they can arbitrarily decide what is “misinformation” and fine a user up to $2500. Only internet outrage made them pivot.

In short, this private company has your dollars held digitally on their platform and they wanted the ability to take it when they disagree with your position on…who the heck knows what?

Keep this in mind when the Federal Reserve tries to sell you on a Central Bank Digital Currency, (CBDC).

In other news…

BNY Mellon will now custody Bitcoin and other cryptocurrencies.

“BNY Mellon will now be able to provide those fund managers with storage of the keys necessary to access and move around their bitcoin (BTC) and ether (ETH), as well as the other traditional bookkeeping functions.”

It’s not clear if this service is only for professional fund managers or also individual clients.

Since they are members of FDIC, does that mean stored Bitcoin would be insured up to $250,000, like dollars?

[Wheat/"/"/"]

This just came out today as well…..

Google selects Coinbase to take cloud payments with cryptocurrencies and will use its custody tool

“The deal, announced at Google’s Cloud Next conference, might succeed in luring cutting-edge companies to Google in a fierce, fast-growing market, where Google’s top competitors do not currently permit clients to pay with digital currencies. The cloud business helps diversify Google parent Alphabet away from advertising, and it now accounts for 9% of revenue, up from less than 6% three years ago, as it is expanding more quickly than Alphabet as a whole.”

Mass adoption continues to grind along.

Most of this adoption is coming at institutional levels first, like this deal.

There is still time for us as individual investors to front run this adoption.

The amount of Bitcoin is set, and Bitcoin prices are low. My guess is we’ll see a price bottom in the next couple of months around $13-14 thousand due to all this macro economic $#)%show we have going on in the world.

[Kdogg]

For anyone questioning why Bitcoin’s energy use for proof of work validation, which maintains a persons ability to control custody of their asset without a need for a trusted third party, is so important, I offer exhibit A.

Pay Pal floats the idea that they can arbitrarily decide what is “misinformation” and fine a user up to $2500. Only internet outrage made them pivot.

In short, this private company has your dollars held digitally on their platform and they wanted the ability to take it when they disagree with your position on…who the heck knows what?

Keep this in mind when the Federal Reserve tries to sell you on a Central Bank Digital Currency, (CBDC).

That was scrapped almost immediately.

No, PayPal won’t fine people for spreading misinformation
PayPal says a revised Acceptable Use Policy, which is essentially the company’s terms of service, included incorrect information about fines.

Plus just don't use a company if you don't like their Terms of Service. Free market and all that jazz. Mind you this is a company that will allow you to use crypto at any place that accepts PayPal.

In other news…

BNY Mellon will now custody Bitcoin and other cryptocurrencies.

“BNY Mellon will now be able to provide those fund managers with storage of the keys necessary to access and move around their bitcoin (BTC) and ether (ETH), as well as the other traditional bookkeeping functions.”

It’s not clear if this service is only for professional fund managers or also individual clients.

Since they are members of FDIC, does that mean stored Bitcoin would be insured up to $250,000, like dollars?

No. Just because the term "bank" is in the name the services that they provide don't really fall under what people would consider normal banking. BNY Mellon is a custodian bank. More so they are like a bank for banks. It's owned by institutional investor. They already have custodian services for other assets. They would be just adding these to that list. By their own words, "BNY Mellon is an investments company." Their FDIC protection would only cover cash.

Also $250,000 might get you into their brokerage unit but wouldn't even get you into the doorway of their Wealth Management let alone their other units.

The Coinbase news is good for a Dukie co-founded company. A bit of you pat my back, I'll pat yours but again good for them. As is approval of the Singapore license which opens a large potential regulated market to them.

[Wheat/"/"/"]

Google will ban all cryptocurrency-related advertising-2018

Google selects Coinbase to take cloud payments with cryptocurrencies and will use its custody tool-2022

With the current state of world economies failing, it’s just a matter of time until skeptical individuals, institutions, and governments see the value in a digital hard store of value asset and unit of account that can’t be counterfeited.

Only 21 million Bitcoin to go around, (actually less).

As worldwide adoption continues to grow, it’s just a matter of time before supply and demand kicks in and the value of Bitcoin increases.

I’m confident in my investment allocation into Bitcoin.

BTW, add Google to the list of believers in the proof of work security of the Bitcoin network.

[Jeffrey]

With the current state of world economies failing, it’s just a matter of time until skeptical individuals, institutions, and governments see the value in a digital hard store of value asset and unit of account that can’t be counterfeited.

History has taught me the exact opposite. As economic conditions worsen, investors take less risk (not more) with their aggregate investment portfolio.

[Wheat/"/"/"]

History has taught me the exact opposite. As economic conditions worsen, investors take less risk (not more) with their aggregate investment portfolio.

Bitcoin is looking less risky, and more necessary, everyday.

I think Bitcoin now needs to be a part of everyone’s portfolio, at whatever % you are comfortable with at this point.

[Kdogg]

Bitcoin is looking less risky, and more necessary, everyday.

I think Bitcoin now needs to be a part of everyone’s portfolio, at whatever % you are comfortable with at this point.

The Wilshire 5000 is down 23.14% in the last 12 months. BTC is down 65.88%. That's looking less risky?

[CrazyNotCrazie]

Bitcoin is looking less risky, and more necessary, everyday.

I think Bitcoin now needs to be a part of everyone’s portfolio, at whatever % you are comfortable with at this point.

This is the type of in-depth analysis that keeps me coming back...

[acdevil]

Bitcoin is looking less risky, and more necessary, everyday.

I think Bitcoin now needs to be a part of everyone’s portfolio, at whatever % you are comfortable with at this point.

This is like a trick question on the Series 7 exam.

[Wheat/"/"/"]

This is the type of in-depth analysis that keeps me coming back...

“When you don’t understand Bitcoin, you don’t understand money”.

Not an original quote from me, but seems applicable here.

[Kdogg]

“When you don’t understand Bitcoin, you don’t understand money”.

Not an original quote from me, but seems applicable here.

When they don’t agree with you insult them.
When the facts don’t back your POV ignore them.
I never liked Kool Aid. It’s Hi-C or die but I’m partial to Hawaiian Punch.

Those are original quotes.

[CrazyNotCrazie]

When you don’t understand Bitcoin, you don’t understand money.

Not an original quote from me, but seems applicable here.

I would be willing to bet you anything in the world that my credentials for "understanding money" run circles around yours and all of the YouTube superstars you keep quoting. I also am smart enough about money (and most other topics) to know that there are many things that I do not know, which is why I seek information. That was why I was coming to this thread. But I have learned absolutely nothing here - not sure why I keep coming back...

And the person who said that quote (Michael Saylor of Microstrategy) lost his job after his company's stock tanked due to its heavy investment in Bitcoin.

I still am not 100% sure there is zero merit to Bitcoin. I just think you have done a consistently lousy job of trying to explain what merit there is.

[Wheat/"/"/"]

The Wilshire 5000 is down 23.14% in the last 12 months. BTC is down 65.88%. That's looking less risky?

“In particular, as of October 7, the Dow Jones index that tracks the 30 largest industrial stocks was more volatile than Bitcoin, data shared ZeroHedge indicates.”

“Bitcoin’s latest achievement highlights the asset’s maturing nature considering it has been classified among the most volatile investments. Notably, proponents have maintained that once Bitcoin matures, characterized by increased adoption, the asset will be less volatile and trade like traditional assets”.

Bitcoin is maturing and becoming less risky with each adoption announcement. When you see a company like alphabet/Google show acceptance of Bitcoin, it makes the asset less risky, that was my point.

[Wheat/"/"/"]

I would be willing to bet you anything in the world that my credentials for "understanding money" run circles around yours and all of the YouTube superstars you keep quoting. I also am smart enough about money (and most other topics) to know that there are many things that I do not know, which is why I seek information. That was why I was coming to this thread. But I have learned absolutely nothing here - not sure why I keep coming back...

And the person who said that quote (Michael Saylor of Microstrategy) lost his job after his company's stock tanked due to its heavy investment in Bitcoin.

I still am not 100% sure there is zero merit to Bitcoin. I just think you have done a consistently lousy job of trying to explain what merit there is.

You show your ignorance with every post in your continued efforts to troll my comments. Please do consider leaving this thread, you add nothing to it.

Michael Saylor is the co-founder of MicroStrategy, and I believe it’s largest shareholder. He voluntarily left his role as CEO to become executive chairman and chairman of the board of MicroStrategy, positions he currently holds.

His stated reason for the change was so he could further his efforts educating and focus his time on Bitcoin applications.

“I believe that splitting the roles of Chairman and CEO will enable us to better pursue our two corporate strategies of acquiring and holding bitcoin and growing our enterprise analytics software business. As Executive Chairman I will be able to focus more on our bitcoin acquisition strategy and related bitcoin advocacy initiatives, while Phong will be empowered as CEO to manage overall corporate operations,” said Mr. Saylor in the release.

MicroStrategy is currently working on a simple easy to use Bitcoin Lightning wallet application.

[Kdogg]

“In particular, as of October 7, the Dow Jones index that tracks the 30 largest industrial stocks was more volatile than Bitcoin, data shared ZeroHedge indicates.”

“Bitcoin’s latest achievement highlights the asset’s maturing nature considering it has been classified among the most volatile investments. Notably, proponents have maintained that once Bitcoin matures, characterized by increased adoption, the asset will be less volatile and trade like traditional assets”.

Bitcoin is maturing and becoming less risky with each adoption announcement. When you see a company like alphabet/Google show acceptance of Bitcoin, it makes the asset less risky, that was my point.

1) Zerohedge is not an unbiased outlet. It’s not a primary source. Here’s the original tweet.

https://twitter.com/zerohedge/status/1578489043171807232

You tell me that that means.
2) I chose the Wilshire because it’s a total market index. The Dow is a weighted index so movement in bigger cap stocks has a larger impact. Notice they didn’t use the S&P. Wonder why? Know your sources and understand money…I mean markets. By using the Wilshire I’m giving a comparison in totality to compare volatility. No cherry picking here.
3) I guess you are unfamiliar with Google and its commitments to projects. Let me tell you: They have none. They cancel things left, right and center. They throw anything against the wall. It means nothing to the risk profile of Bitcoin. Also they are only letting “a select group” use it. Doesn’t seem like there are really committed because they won’t take your crypto.