Vish_ram Posted February 5 Posted February 5 It was around 2014 when a guy from some bitcoin exchange came to our MBA class (Emory). He talked for an hour and then we discussed for another hour. The class had a lively discussion. In the end only one tried to buy but couldn't and no one else bought it. 1) I thought it was a brilliant idea, to take back control of money printing away from Govt. I was 100% convinced that it is a threat to all Govt as that they'll ban it in short order 2) I was pissed that it had gone up from <$1 to $250 in a short few years and that this guy has come here to pump it up. It was a radical concept then and still radical for many now. COVID reintroduced me to inflation and the extent of money printing and crazy run up in prices along with deficits changed my whole perspective. I realized that all investing is just preservation of wealth (+ small growth in real terms).
james22 Posted February 5 Posted February 5 44 minutes ago, TwoCitiesCapital said: Hardcore/deep value interesting prepared me to buy what is unpopular and unloved and Bitcoin has been that basically its entire existence. It should, right? But is bitcoin thought as contrary? I don't know. On this board, sure. But I think proponents are generally defined by Bitcoin moon bois rather than deeply researched Bitcoin maximalists. Not thought of as contrarian, but number go up bandwagoners. And why I never admit to being a proponent IRL.
TwoCitiesCapital Posted February 5 Posted February 5 22 minutes ago, james22 said: It should, right? But is bitcoin thought as contrary? I don't know. On this board, sure. But I think proponents are generally defined by Bitcoin moon bois rather than deeply researched Bitcoin maximalists. Not thought of as contrarian, but number go up bandwagoners. And why I never admit to being a proponent IRL. I still think there is resistance to it. Less so in the past, but back in 2018 everyone in traditional finance that I work with was badmouthing it BECAUSE it was only moonboyz and collectible cat jpgs that defined BTC/ETH. The general populace had probably never even heard of it - which once again makes you stick out if you start accumulating significant portions of this "money" you can't touch/hold/see/understand - especially when it then cratered into COVID. I picked it up in 2019 when I changed my mind. Nobody in my immediate peer group seems to have done that. And the few coworkers are dabbling in it are dabbling with small speculative sums that are inconsequential and often bypass BTC for meme coins. More akin to putting it on black in casino than having a specific investment thesis. It still feels like you stand out as a proponent of BTC no matter how well thought out. But that may be changing with it take center political stage. I just don't know if it's actually a good thing that the president behind $TRUMP is also the one supposedly in support of BTC.
james22 Posted February 5 Posted February 5 14 minutes ago, TwoCitiesCapital said: It still feels like you stand out as a proponent of BTC no matter how well thought out. It think it goes to the direction of one's contrary take. If pessimistic, you look bright. If optimistic, you look naive.
rkbabang Posted February 6 Author Posted February 6 You have had to be that guy to own Bitcoin and not everyone has the stomach or the confidence for that. I’ve been a libertarian/anarchist my entire adult life so being that guy is just how I’ve gone through life. And I’m a tech guy not a finance guy by profession so Bitcoin interested me from a technical, political, and financial point of view all at the same time.
james22 Posted February 6 Posted February 6 4 minutes ago, rkbabang said: I’m a tech guy not a finance guy . . . This probably means more than anything else.
Dave86ch Posted February 6 Posted February 6 (edited) 17 hours ago, TwoCitiesCapital said: I think this is a decent framework, but I'm not sure it's all entirely based on faith in the system and belief in its success. I tend to think our system is doomed for failure, but not necessarily because central banks can't work or that there isn't a framework that could work. I think the primary tragic flaw is people forget the failures of the past and don't enforce discipline to prevent it from happening again. It's a death of a thousand cuts inching towards your doom over a few generations. I think you have to believe the system is broken AND/OR have a willingness to stand out from the pack. Hardcore/deep value interesting prepared me to buy what is unpopular and unloved and Bitcoin has been that basically its entire existence. It will change, and perhaps is starting to, but it took someone willing to look dumb and be different from their peers to buy it for the last 15-years. When it clicked for me, I did an immediate 180⁰ and bought that day. I didn't mind that meant I was the only one in my group of peers to own it. I didn't mind that my girlfriend at the time didn't see much value in it. I didn't mind that I would now be grouped with "magic internet money moon boyz" or that men talking about their crypto portfolios is now a popular meme that paints a negative view of a population that now includes me. I have a willingness to stand apart and stand out and I find most people are more comfortable being wrong if it means they remain part of the pack. History helps a lot in understanding Bitcoin, placing it within the cycles we’ve already experienced as a species. Sometimes, our perspective is too narrow, which prevents us from being prepared when “this time isn’t different”—only the perspective is. Edited February 6 by Dave86ch
Paarslaars Posted February 6 Posted February 6 https://cryptobriefing.com/czech-bitcoin-tax-mica/ There we go, that's a start!
Fly Posted February 7 Posted February 7 3 hours ago, Paarslaars said: That's not good... Agreed, very few will buy it but I wouldn’t be surprised if his ETFs wind up in some sort of SWF and/or BSR
Paarslaars Posted February 8 Posted February 8 https://cointelegraph.com/news/utah-takes-lead-potentially-enacting-bitcoin-reserve-bill
wachtwoord Posted February 8 Posted February 8 On 2/6/2025 at 2:00 AM, rkbabang said: You have had to be that guy to own Bitcoin and not everyone has the stomach or the confidence for that. I’ve been a libertarian/anarchist my entire adult life so being that guy is just how I’ve gone through life. And I’m a tech guy not a finance guy by profession so Bitcoin interested me from a technical, political, and financial point of view all at the same time. This. Truth is not a popularity contest. It's the same people problem when talking with people who think scientic consensus means something is true. It shows the pathetic level academia is at right now. Numbers might have never been higher but quality has not been lower in the last centuries, cause academia now has very very few actual scientists (truth seekers).
james22 Posted February 8 Posted February 8 54 minutes ago, wachtwoord said: Truth is not a popularity contest. But adoption is.
wachtwoord Posted February 8 Posted February 8 4 hours ago, james22 said: But adoption is. Not for everything. Good money drives out bad money afterall. The stock market is a subjectuve popularity contest in the short term but and objective weighing function in the long.
SharperDingaan Posted February 8 Posted February 8 (edited) Everybody says they understand the Sigmoid Curve (S Curve).... but few actually 'apply' it. Born of the tech community and jealously guarded as ours, BTC spread quickly, but only within the small community, and only amongst the largely naive. However; tech bro's ain't finance bro's, and we got the blow-outs of the early NFT's, tokens vs securities, the wild-west excesses, etc. BTC from zero to it's 2018 peak at around USD 14K, but with minimal (non tech) retail involvement, and behaviour that really tanked the prospects for wider adoption. BTC moved higher primarily because of the halving process. 2018 through 2022 the monetary authorities took over (adults in the room), again it spread quickly, but again only within the small community. But this time .. intense research into monetary usage, infrastructure build out (derivatives, regulation, etc.) and ultimately a significant CBDC ... rolling out with eYuan at the Beijing Olympics. BTC from USD 14K to the 2021/2022 peaks of USD 60K, continuing minimal (non tech) retail involvement, and tech community friction. BTC higher primarily because of CB involvement. 2024 through 2025 YTD financial sector adoption has begun to take over, again it is spreading quickly but again only within financial services. But this time .. it's a roll-out into financial usage (5% investment allocation, BTC-ETF, central bank/state treasury BTC reserves, etc.). BTC from USD 60K to the 2025 YTD peak of USD 109K, early mass (non tech) retail involvement, and the tech community essentially contractors doing implementation. BTC higher primarily because of advancing roll-out, halving, and regulatory reform. Entry into the beginning of the asymptotic portion of the S curve. Average Joe/Jill six-pack continues to have no clue; the more financially literate are adopting the BTC-ETF as the trading sardine, but have little idea (or interest) in the mechanics. The .com era all over again !!!, with the BTC-ETF as the common man's momentum vehicle of choice. Hard not to get excited at the opportunity Its also only the younger average Joe six-packs that are involved; it ain't the mom's/dad's and it ain't the old folks. However it is also the time of the greatest wealth transfer in history; as the wealth moves from the old to the young, retail adoption accelerates. It accelerates faster still ... when investment in a BTC-ETF is increasingly seen as a viable way by which to pay off a mortgage, decades earlier So when you hear the BTC price projections of USD 150-200K by the end of 2025? ... it's less about the if, and more about the when. Add to it, that it'll be a bumpy road, highly conducive to swing-trades; and that as the multiple verified stories of wealth creation come out ... FOMO will begin to feed into the price Some folks are going to become very wealthy. COBF members might want to give crypto a little more attention, so that those folks include you. SD Edited February 9 by SharperDingaan
james22 Posted February 9 Posted February 9 3 hours ago, wachtwoord said: Not for everything. Good money drives out bad money afterall. The stock market is a subjectuve popularity contest in the short term but and objective weighing function in the long. Yeah, I'm really on the inevitability side.
valueventures Posted February 9 Posted February 9 (edited) I'm sure this post will get criticized and people here will "call the top" and "call for Powell to raise rates", but I continue to be astonished by the quick $ people are making on memecoins (Trump, jailstool, etc.). I don't have crypto exposure today, but want to be positioned to take a shot on some of these memecoins in the future (with a small sum of money I'm willing to lose, with the understanding that permanent impairment is possible). If anyone on here has played in these newly launched memecoins outside of more conventional crypto (Bitcoin, ethereum, etc.), it would be helpful to hear how you've approached this. I've downloaded a few apps (Moonshot, Phantom, etc.) and am just generally experimenting with the interfaces / logistics at this stage. A few questions: Which app(s) are best for this? Which app(s) allow you to deposit cash rather than crypto? Just from playing around on Moonshot and Phantom so far, it appears only Moonshot allows you to deposit cash. I've read that some have had issues withdrawing proceeds. Has anyone experienced this? In the case of Moonshot, it appears one can sell their holdings in Moonshot, transfer the cash (USDC) into a Coinbase wallet, and then, from the Coinbase wallet, convert the USDC to USD and transfer into his/her bank account. Lastly, I'm curious if anyone has developed a systematic way of "getting in early" to these memecoins. I'd be curious to do some back-testing to see if / where there was mention of these coins launching in advance (Wall Street Bets, Twitter, etc.). Thanks in advance for any help / insight you can provide! Edited February 9 by valueventures
SharperDingaan Posted February 9 Posted February 9 (edited) Your overall approach is right, but if you are not a tech bro you would do better to look elsewhere than the memecoin (there is a reason as to why they are called sh1tecoin!). As a tech bro, tech is your bread and butter, and this is simply an extension of that. A tech bro's 'return' is industry employment at progressively higher compensation, augmented by the bro's knowledge of the crypto funding side, alongside the bro's technical knowledge/experience in tech. Buying into the air-drops may produce a gain, but after the multiple fees paid on the way to getting to cash .. it's much like a betting app; lot of 'activity' ... but no net cash out. As a investor; the return is entirely in selling sardines at high prices, repurchasing at lower prices, and taking the cash difference off the table. Hence, you are better served via a BTC-ETF with a deep market (Blackrock, Fidelity, etc.) that is trading on a regulated exchange. Your time is spent on how you think adoption will go, and assessing whether or not the current market is offering a timing opportunity. Everybody pays a tuition cost. Invest maybe $500, move it around for experience purposes, and see how the various apps work. Invest up to $1,000 between 2 shitecoin, learn from the experience, and assume you lose the entire $1,500 investment. Then, make some decisions. To do well, you don't need to be an 'expert'; you just need to be more knowledgeable around crypto than Joe/Jill Sixpack. It is not a high bar, but as in high-jump/pole-vault the bar rises as time goes by. Good luck! SD Edited February 9 by SharperDingaan
james22 Posted February 10 Posted February 10 4 hours ago, valueventures said: Thanks in advance for any help / insight you can provide! BTC should return quick enough $ this year. No reason to do anything other than this: 59 minutes ago, SharperDingaan said: Hence, you are better served via a BTC-ETF with a deep market (Blackrock, Fidelity, etc.) that is trading on a regulated exchange. Your time is spent on how you think adoption will go, and assessing whether or not the current market is offering a timing opportunity.
Dave86ch Posted February 10 Posted February 10 Learning about Bitcoin is an investment in itself. Shitcoins are just noise designed to exploit the plebs and give them some excitement.
[email protected] Posted February 11 Posted February 11 I am ETH biased and see a lot of Bitcoin lovers here. Just curious, what do you guys think of Ethereum when compare with Bitcoin?
Vish_ram Posted February 11 Posted February 11 4 minutes ago, [email protected] said: I am ETH biased and see a lot of Bitcoin lovers here. Just curious, what do you guys think of Ethereum when compare with Bitcoin? 1. A shit coin 2. unlimited supply (as per protocol) 3. lost race to BTC as store of value 4. losing mind/market share to other shit coins 5. No real world traction of using it for smart/dumb contracts 6. Market is a voting machine in the long run and voting it as a shit coin
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