rkbabang

Yes, comparing one thing of value to another always has multiple variables. Even using USD is problematic because not only is BTC always changing in respect to the USD, but the USD is changing in value with respect to other goods as well, not just BTC. Saying BTC will be worth some X amount of USD someday doesn't tell you much because the obvious question is "which USD?" The 2007USD, the 2022 USD, or the someday USD? Because if BTC is ever worth $1M USD it will be both because BTC is worth more than now and the USD is worth less than now.

Because most people in the US use and understand dollars, so it is very easy to use dollars to convey the idea that BTC or ETH will hold more value in the future than they do now. If we started talking about the number of bananas, pineapples, gallons of crude oil, or pork bellies you will be able to buy with bitcoin in the future vs now it wouldn't make as much immediate sense to most listeners.

Yes, I was thinking the same thing. The ideal is to get human reasoning abilities and even creativity without the human-like mistakes and misunderstandings.

I was just reading about this on twitter this morning and ran across this answer. I'm not sure I'd trust the answers this gives you without verifying them for yourself afterwards.

Sold all my Jan 23 TSLA puts. Large loss on the $86.67 puts and large gain on the $180 puts. Made a few percent combined.

You are almost certainly correct. It will be a thing on Instagram soon.

The governments of the world not being able to confiscate your wealth could be considered a feature, rather than a bug.

"illegal" The ruling elite always calls protests illegal. When you agree with a protest it is a "mostly peaceful protest by people with legitimate complaints" even if it burns down a portion of a city. When you don't agree with a protest it is a "illegal insurrection by terrorists", even if it is basically a bunch of smiling people walking around a building taking selfies. I'm sure in the eyes of CCP the Hong Kong protests are "illegal" and in the eyes of the government of Iran the Iranian protests are "illegal". It's all tribalism. When your tribe agrees they are freedom fighters, when your tribe doesn't agree they are terrorists and criminals. I applaud anyone protesting their government whether it be BLM, the Jan 6th protesters, the Canadian truckers, or people in Hong Kong, China or Iran. Governments are the real criminals and "illegal" just means something the real criminals don't like.

Like having bank accounts frozen? How quickly people forget that China isn't the only totalitarian regime which freezes the bank accounts of political dissidents. https://www.businessinsider.com/trudeau-canada-freeze-bank-accounts-freedom-convoy-truckers-2022-2

+1 and so many forget the extent to which that took place. Credit card and paypal donations to the truckers weren't allowed to go through. Another reason that Bitcoin isn't going anywhere. You're government isn't totalitarian, until it is.

Does the US have a vaccine that works? I've been vaxed and boosted and I still got COVID. My neighbors have been triple boosted and still got COVID. Everyone I know that has caught it in the last year has had multiple vaccines. Except for my unvaccinated 71 year old parents who were less sick than my wife and I when they caught it. I disagree that the US has a vaccine that "works".

Yes, but what is the point? There are shady players in all markets involving anything of value. Diamonds, gold, real estate, stocks, expensive watches, ..... So what?

I think a lot of the big fish criminals do keep proceeds in bitcoin as an investment, but I will admit that I can't back that up at all because I don't know how to trace BTC. I'm sure that criminals and criminal organizations which invest have diversified portfolios including crypto, stocks, bonds, cash, real estate, etc. I never hear anyone say "Criminals often use the US Dollar, we should get rid of the USD for that reason". I'm sure even in 2022 the USD is used in crime far far more often than crypto.

The only thing she gets wrong is the timeframe. I'd be very surprised if it was $1M by 2030, but also very surprised if it wasn't $1M by 2045.

I’ve only ever used Coinbase, I buy and withdraw the BTC. I never leave it in there. I haven’t looked into any of the others. Edit: I just looked, I have about $800 worth in there now. That wouldn’t be life altering if I lost that. When it gets to a few $K I withdraw it.

My average cost basis in the BTC I still own is about $5K. I’ve been buying small amounts every time the price drops since dropped under $25K and will continue to do so. If it goes under $10K I might significantly increase my holdings.

I think long term the centralized exchanges will get more regulated, better capitalized, more professionally run, less scammy. And the decentralized exchange methods will become easier to use and more people will use them. In the short term there is going to be more instability and uncertainty, you will see more people calling it rat poison and more promoters as well, all of which will create opportunities for the patient.

It is definitely is going to take some time to shake out and there are probably more shoes left to drop. When the magazine covers go from "Is this the end of crypto?" to "The death of crypto!", we know we're close. I don't expect Bitcoin to go up much from here (if any) until well after the next halving. And it could easily drop another 40-50%. As far as shitcoins go, there aren't many coins that I wouldn't be surprised to see drop another 90+% and many will never recover.

LOL. I'm glad you didn't engage in hate speech against the religion of peace which wants her head. Literally.

Thanks for sharing wise words from the great Library of Xerxes.

Does it really matter where something was invented or by who? I was talking about the major build out to get it to the everyday consumer you are talking about who first developed it. Would it make a difference in our lives today if the lightbulb was invented by a government agency rather than Edison? Whether something is decentralized has nothing to do with who invented it. For all we know Satashi could be a front for a group within the NSA. It doesn't matter now because it exists. Most enthusiasts long for the day when we can walk into any store and purchase something with Bitcoin. That day will come. One step at a time.

You are conflating so many different topics/concepts in this post it is hard to even respond to it. The backbone of the internet was largely created by private companies with some government funding. Spectrum is for wireless only and regulated by the US government in the US. You can go get yourself a domain name, set up a website and no one will regulate what you put on it. Websites are run by private companies, individuals, educational institutions, governments and everything else you can think of. Crypto exists on that same internet. FTX was a centralized exchange as was every exchange failure since Mt. Gox. Centralized exchange failures happen and will continue to happen.

Sold! (digital copy only, as I already threw out the physical one). 1PhFJLCgZcpGxfVijQQCFdf7GMt3JDJjEp

That’s another thing that makes Bitcoin far superior to gold. I wouldn’t trust a gold bar from some stranger on the street, but if he pays me in Bitcoin I immediately know that it is genuine and I don’t need to trust him. You can fake gold, you can counterfeit dollars or pesos, but when the BTC hits your wallet you know it is real whether or not you trust the person who sent it to you.

That's a long way off, quantum computing is a lot like nuclear fusion, it is always 10-20 years away. There are quantum hardened algorithms Bitcoin could hard-fork to well before this becomes an issue. The average Joe isn't going to change until well after the institutions do. Go offer the average Joe a choice between an oz of gold or $20 and you'd be surprised what the answer will be. If their friends and neighbors all start using it, they will as well.