Cryptocurrencies

[Sweet]

7 hours ago, Paarslaars said:

 

 

 

 

Solving world hunger next... right.

[james22]

Why The Yuppie Elite Dismiss Bitcoin

 

https://www.citadel21.com/why-the-yuppie-elite-dismiss-bitcoin

[TwoCitiesCapital]

7 hours ago, Blake Hampton said:

You know, if this were a gold thread, I’d have a much easier time getting behind it all—though I still find the whole ideology to be sort of odd. Buffett is right when he talks about non-productive assets versus productive ones.

 

Munger summarized it best when he said, ”Bitcoin is worthless, artificial gold.”

This sucker is going to be worthless the second our economy has a real downturn.

 

 

Like 2020? or 2022? 

 

Or was it supposedly shutting down liquidity/higher rates that was supposed to kill Bitcoin? Like 2023/2024?

Edited 13 hours ago by TwoCitiesCapital

[Fly]

8 hours ago, Dave86ch said:

An interesting development is USDt on Lightning through Taproot.

Lightning is far more scalable than anything else.

 

I'm glad to see this. Stablecoins on LN (and/or other BTC L2s) will be the nail in the coffin for shitcoins. 

[Blake Hampton]

2 hours ago, TwoCitiesCapital said:

Like 2020? or 2022? 

 

Or was it supposedly shutting down liquidity/higher rates that was supposed to kill Bitcoin? Like 2023/2024?

 

 

It was at $5,000 a coin during the 2020 cash crunch.

[Blake Hampton]

If the Fed hadn't done QE, Bitcoin would certainly be trading around $0.

[gfp]

Just now, Blake Hampton said:

If the Fed hadn't done QE, Bitcoin would certainly be trading around $0.

c'mon Blake, you are killing me with this idiotic QE stuff.  At least do some reading on the mechanics of what exactly "QE" and "QT" are.

 

If you are obsessed with money creation being a problem, focus on the fiscal.  

[Dalal.Holdings]

This might be a sign capital is leaving crypto broadly and Bitcoin is just the last holdout...

 

[TwoCitiesCapital]

19 minutes ago, Blake Hampton said:

If the Fed hadn't done QE, Bitcoin would certainly be trading around $0.

The Fed has been engaged in quantitative tightening since mid-2022. Bitcoin has gone from ~$40k at peak Fed balance sheet to $100k today. Where is the drop to 0 coming from again? And why would it be different than the last 30 months? 

[TwoCitiesCapital]

Just now, Dalal.Holdings said:

This might be a sign capital is leaving crypto broadly and Bitcoin is just the last holdout...

 

 

Perhaps. Is just another way of saying Bitcoin dominance is rising. It's right around 61% which isn't historically unprecedented. 

[Blake Hampton]

My point is that if the Fed hadn't bailed out the economy with liquidity, Bitcoin would've been the first asset to be worth pennies. This whole "cash is trash" argument is cute until people actually need cash. Then the situation becomes life or death.

[TwoCitiesCapital]

29 minutes ago, Blake Hampton said:

 

 

It was at $5,000 a coin during the 2020 cash crunch.

 

Yes. It was. And had traded at just $1,000 3-years prior.

 

So a 5x in 3-years, even after a 75% drawdown to COVID lows, is BTC going to zero? Even while the Fed was engaged in QT during 2018 and 2019?

 

It seems clear to me your "Fed Quantitative easing is the only thing keeping BTC above $0" model is broken - seeing as the last two times the Fed did QT, BTC was still significantly higher than 2-3 years prior. 

Edited 10 hours ago by TwoCitiesCapital

[Paarslaars]

9 minutes ago, Blake Hampton said:

My point is that if the Fed hadn't bailed out the economy with liquidity, Bitcoin would've been the first asset to be worth pennies. This whole "cash is trash" argument is cute until people actually need cash. Then the situation becomes life or death.

You're not getting it. Liquidity wasn't the problem, QE is inflationary, people's savings get whiped out by all the money printing. This is why BTC will be succesful.

[Gregmal]

Oh fantastic! I love the “anything that’s ever had a drawdown is a risky bubble asset” declarations….as we insist the solution is to hold the one asset that over the past 100 years has done nothing but consistently ride the chart from top left to bottom right. 
 

However! I’ve heard of we quote Buffett enough, we can overcome the 100 year history of cash being trash.

[Vish_ram]

My only hope is that I keep stacking the sats when the likes of Blake start buying at $1M. When CoBF as a whole becomes bullish, the high alpha in BTC will be over. 

[james22]

 

[james22]