Luke Posted February 27 Posted February 27 Guys, when your parents ask you if they should invest in bitcoin now, it's time to sell and exit the trip to Jerusalem before no chairs are left anymore!
james22 Posted February 27 Posted February 27 Your parents will probably unknowingly own BTC in their Target Retirement fund before they ask you about it.
Dave86ch Posted February 28 Posted February 28 (edited) 17 hours ago, Luca said: Guys, when your parents ask you if they should invest in bitcoin now, it's time to sell and exit the trip to Jerusalem before no chairs are left anymore! Time to embark on Noah's Ark. Edited February 28 by Dave86ch
rkbabang Posted February 28 Author Posted February 28 17 hours ago, Luca said: Guys, when your parents ask you if they should invest in bitcoin now, it's time to sell and exit the trip to Jerusalem before no chairs are left anymore! My parents asked me this question a little more than a year ago when BTC was under $20K. I told them they should and they did. They are in their early 70s.
gfp Posted February 28 Posted February 28 10 minutes ago, james22 said: 24hr trading is killing my sleep. Are you trading bitcoin at all hours or just intensely interested in the price moves? Are you buying or selling it?
james22 Posted February 28 Posted February 28 Just now, gfp said: Are you trading bitcoin at all hours or just intensely interested in the price moves? Are you buying or selling it? No, not trading. Just interested, and moreso when jumping as much as it has overnight lately.
Milu Posted February 28 Posted February 28 45 minutes ago, james22 said: No, not trading. Just interested, and moreso when jumping as much as it has overnight lately. Best bet is just try to ignore the noise. If you are not planning on buying or selling anytime soon based on these movements then it's just pointless checking. Easier said than done of course.
rkbabang Posted February 28 Author Posted February 28 3 hours ago, james22 said: 24hr trading is killing my sleep. I hear you. If you notice above I posted here at like 4AM Eastern (my time zone). If I get up anytime during the night now I grab my phone and check bitcoin, and since I'm up check this board and a few other things. The last time I did this was 2020-2021 and ~2017. I think I'm just not going to sleep much on halving years.
jfan Posted February 29 Posted February 29 What are people's thoughts on Marathon's slipstream offering? Is this a threat to transaction censorship or preference to certain transactions?
jfan Posted February 29 Posted February 29 Research Archives | BitMEX Blog Came across this site recommended by Nic Carter from the author of Blocksize Wars.
Dave86ch Posted February 29 Posted February 29 17 hours ago, james22 said: 24hr trading is killing my sleep. Does the rise of a non-earning asset kill productivity? Or is it just a way to transfer 'energy' to productive people, allowing a frictionless exchange of 'energy' between them? I mean, it's clear that those who were early in Bitcoin understood something that others didn't grasp. Transferring capital to them may lead to some inefficiencies among the masses, but I wouldn't call it unproductive; rather, it's a wealth transfer.
Luke Posted February 29 Posted February 29 (edited) 20 minutes ago, Dave86ch said: Does the rise of a non-earning asset kill productivity? Or is it just a way to transfer 'energy' to productive people, allowing a frictionless exchange of 'energy' between them? I mean, it's clear that those who were early in Bitcoin understood something that others didn't grasp. Transferring capital to them may lead to some inefficiencies among the masses, but I wouldn't call it unproductive; rather, it's a wealth transfer. At which price would you say is bitcoin a bubble? 100k? 1m? Or would you repeat the same arguments when it hits 1m, 10m etc And why would it be a bubble at 200k and not at 50k? Also, your next door grandma losing -50% of her money to bitcoiners after many start to sell and buy real assets, is that productive? Or is it something you then would call a "productive wealth transfer"? Why is it more productive for you to have her money than her having her money? Thanks! Edited February 29 by Luca
james22 Posted February 29 Posted February 29 2 hours ago, Dave86ch said: Does the rise of a non-earning asset kill productivity? Bitcoin's efficiency allows energy to be put to more productive use. 2 hours ago, Luca said: At which price would you say is bitcoin a bubble? At what point would you say bitcoin has been adopted?
Luke Posted February 29 Posted February 29 4 minutes ago, james22 said: Bitcoin's efficiency allows energy to be put to more productive use. What does this mean? Where does the grandma who buys bitcoin now have an increase in energy and higher productivity? 4 minutes ago, james22 said: At what point would you say bitcoin has been adopted? So you think bitcoin is worth more as long as it has not been completely adopted? Getting a bad feeling if answers about crypto become more and more cryptic
ValueArb Posted February 29 Posted February 29 On 2/23/2024 at 12:01 PM, TwoCitiesCapital said: Im not going to pretend to be an expert on everything that is happening (BlockFi, Celsius, FTX, Genesis, etc). It's a lot. There's a ton of cases, filings, bankruptcies etc. But I am following it more than a casual armchair observer because I had money at stake in multiple of the platforms and am involved in the Celsius bankruptcy. I'm open to being wrong, but ultimately from what I've seen it wasn't Gemini that did anything other than perhaps vetting Genesis to be the one who provided the services. BlockFi and Celsius both used used some Genesis' product on the back-end as well. It's my under Genesis originated 70+% of the crypto loan volume before it's collapsed. Everyone used it. It's Genesis seems to be largely at fault. Celsius has some questionable activities like the CEOs friends and family yanking tens of millions of deposits while he was separately tweeting about how safe/sound everything was. Additionally, they lied about concentration and collateralization of the loans. BlockFi and Gemini? From what I've seen, they largely just got caught up as collateral damage and ice yet to see anything show untoward behavior. And Gemini survived that where few others did. Gemini settled with NY. It appears to me they only got a slap on the wrist ($37M), the regulator is using the $1.1B number to make it seem like a big win, but that's just returning customer funds they were going to return any ways. And no indication that Gemini will have trouble coming up with the funds, though the wording of what is being returned is "will result in all Earn users receiving all of their digital assets back in kind" which I am too lazy to go to regulators press release to parse out what that means. Quote New York’s financial regulator said Gemini Trust has agreed to return at least $1.1 billion to users of the cryptocurrency exchange’s Earn investment program and to pay about $37 million in fines for compliance failures. https://www.wsj.com/articles/gemini-to-return-1-1-billion-to-customers-in-new-york-regulator-settlement-9b647f30?st=fs21y2ruuuqnj5b&reflink=desktopwebshare_permalink
james22 Posted February 29 Posted February 29 3 hours ago, Luca said: What does this mean? If it [bitcoin] did grow to consume significant energy, I think it would still be less wasteful than the labour and resource intensive conventional banking activity it would replace. The cost would be an order of magnitude less than the billions in banking fees that pay for all those brick and mortar buildings, skyscrapers and junk mail credit card offers. - Satoshi https://crypto.news/satoshi-explains-btc-more-energy-efficient-than-banks/ 3 hours ago, Luca said: So you think bitcoin is worth more as long as it has not been completely adopted? I don't need to be to invest in it - do you believe any company you invest in will grow to the sky? Just that we're early on the adoption curve. But if I had to guess, the $14T market cap of completely adopted gold seems a reasonable target. (Others believe that's conservative.) Until bitcoin hits $700K/coin, I'd probably believe it hasn't been completely adopted. (That doesn't mean I believe its adoption is inevitable, I don't.)
TwoCitiesCapital Posted February 29 Posted February 29 (edited) 23 minutes ago, ValueArb said: Gemini settled with NY. It appears to me they only got a slap on the wrist ($37M), the regulator is using the $1.1B number to make it seem like a big win, but that's just returning customer funds they were going to return any ways. And no indication that Gemini will have trouble coming up with the funds, though the wording of what is being returned is "will result in all Earn users receiving all of their digital assets back in kind" which I am too lazy to go to regulators press release to parse out what that means. https://www.wsj.com/articles/gemini-to-return-1-1-billion-to-customers-in-new-york-regulator-settlement-9b647f30?st=fs21y2ruuuqnj5b&reflink=desktopwebshare_permalink Doesn't seem like the NY regulator views this as some massive fraud on behalf of Gemini either if they were willing to settle a multibillion "fraud" for just $37 million. I mean, Wells Fargo has probably paid that amount in settlements every month for the last several years Edited February 29 by TwoCitiesCapital
ValueArb Posted February 29 Posted February 29 56 minutes ago, TwoCitiesCapital said: Doesn't seem like the NY regulator views this as some massive fraud on behalf of Gemini either if they were willing to settle a multibillion "fraud" for just $37 million. I mean, Wells Fargo has probably paid that amount in settlements every month for the last several years This is true, but this is just a compliance fine from a regulator. The fraud allegations are likely going to be dealt with (litigated) separately.
jfan Posted March 1 Posted March 1 @Luca I came across this short article that you might find interesting regarding the value proposition of Bitcoin. Bitcoin's unique value proposition | BitMEX Blog There are a number of technical articles as well here. I downloaded the Block Size Wars - The Battle for Control Over Bitcoin's Protocol Rules by Jonathan Bier. I just started it, but it shed some light behind the scene of its development. You might also find it helpful. 1
rkbabang Posted March 2 Author Posted March 2 Interesting that “Softwar” is available again on Amazon. Softwar: A Novel Theory on Power Projection and the National Strategic Significance of Bitcoin https://a.co/d/0GZXeU1
gfp Posted March 3 Posted March 3 (edited) Well finally somebody lays it out in a way I can understand it Edited March 3 by gfp 1
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