The Bitcoin Thread

30,700 Views | 347 Replies | Last: 4 yr ago by Fireman
administrative errors
User Profile Ignore User Stop Ignoring
How long do you want to ignore this user?
24 hours One week Permanently Cancel
In reply to YouBet • 6:00p, 2/2/22
YouBet said:
administrative errors said:

I can't wait to find out about Goldman's buying BTC for the past several years after they wrote an entire white paper less than 6 months ago completely trashing it and recommending their clients stay away from it.

Reputation matters far more to bitcoinsapiens, than it did with fiatsapiens.
***
Coming soon:
AE Ventures - sooner than soon
*Psychedelic Retreats
*Physical and mental exercises
*Addiction services

Step 3: property found

Step 4: set date

Step 5: plan agenda for participants, food, logistics etc, integration and counseling post-experience

Step 6: long-term planning

I am amped.
Reply Quote
YouBet
User Profile
Private Message
Ignore User Stop Ignoring
How long do you want to ignore this user?
24 hours One week Permanently Cancel
In reply to tysker • 6:02p, 2/2/22
AG
tysker said:
YouBet said:
administrative errors said:

I can't wait to find out about Goldman's buying BTC for the past several years after they wrote an entire white paper less than 6 months ago completely trashing it and recommending their clients stay away from it.
But that is two different arms of the firm. It may not be appropriate for GS' clients but they sure has hell want some of the flow. Big brokers often will say its not an investable asset but still need a functional inventory to handle requested transactions for clients. Which is why they hedge and use derivatives to take the exposure and maybe even capital expense off their books.
I can kind of understand that, but it's still massively hypocritical.
Reply Quote
2
tysker
User Profile
Private Message
Ignore User Stop Ignoring
How long do you want to ignore this user?
24 hours One week Permanently Cancel
In reply to YouBet • 6:17p, 2/2/22
AG
You said:
I can kind of understand that, but it's still massively hypocritical.
Indeed, it can be and something we in the industry have a difficult time explaining and defending. Its the appearance of impropriety. It's actually a similar issue that underlies why I asked AE about the disclosure of BTC holdings for politicians, governments, bank etc. Would it change your opinion about politicians like Pelosi or Huffines if you found out she/he had purchased a bunch of BTC before passing a law enabling its acceptance and wider usage?
Reply Quote
YouBet
User Profile
Private Message
Ignore User Stop Ignoring
How long do you want to ignore this user?
24 hours One week Permanently Cancel
In reply to tysker • 6:22p, 2/2/22
AG
tysker said:
You said:
I can kind of understand that, but it's still massively hypocritical.
Indeed, it can be and something we in the industry have a difficult time explaining and defending. Its the appearance of impropriety. It's actually a similar issue that underlies why I asked AE about the disclosure of BTC holdings for politicians, governments, bank etc. Would it change your opinion about politicians like Pelosi or Huffines if you found out she/he had purchased a bunch of BTC before passing a law enabling its acceptance and wider usage?
Considering her investment chops, I hope Pelosi is buying BTC because then that means it's here to stay and probably replacing USD.

I wish we could confirm that!
Reply Quote
1
administrative errors
User Profile Ignore User Stop Ignoring
How long do you want to ignore this user?
24 hours One week Permanently Cancel
In reply to tysker • 6:35p, 2/2/22
tysker said:
You said:
I can kind of understand that, but it's still massively hypocritical.
Indeed, it can be and something we in the industry have a difficult time explaining and defending. Its the appearance of impropriety. It's actually a similar issue that underlies why I asked AE about the disclosure of BTC holdings for politicians, governments, bank etc. Would it change your opinion about politicians like Pelosi or Huffines if you found out she/he had purchased a bunch of BTC before passing a law enabling its acceptance and wider usage?
huffines has disclosed his holdings for years, fyi.

Pelosi needs to be held accountable to a number of things, if she bought bitcoin,I wouldn't mind, I'd be surprised if she doesn't or her husband considering how close they are to Silicon Valley.

I personally think the govt is playing kabuki theater with the displays at congress, I can't imagine ALL OF EM being that Obtuse on the topic considering the at least 7 years of lobbying efforts by bitcoin and crypto folks in major capacities.

The neat thing about bitcoin, adopting it enforces the standards of the philosophy at least to some degree. It changes people, because it changes the game theory and therefore the incentives and moralities...

Maybe I'm building it into something far greater than it actually is, but having watched thousands of people change their patterns of behavior I can only expect it to continue for all walks of life.
***
Coming soon:
AE Ventures - sooner than soon
*Psychedelic Retreats
*Physical and mental exercises
*Addiction services

Step 3: property found

Step 4: set date

Step 5: plan agenda for participants, food, logistics etc, integration and counseling post-experience

Step 6: long-term planning

I am amped.
Reply Quote
2
administrative errors
User Profile Ignore User Stop Ignoring
How long do you want to ignore this user?
24 hours One week Permanently Cancel
7:54p, 2/2/22


If you haven't grasped how the halvings/supply work. Here's a good table
***
Coming soon:
AE Ventures - sooner than soon
*Psychedelic Retreats
*Physical and mental exercises
*Addiction services

Step 3: property found

Step 4: set date

Step 5: plan agenda for participants, food, logistics etc, integration and counseling post-experience

Step 6: long-term planning

I am amped.
Reply Quote
3
1 edit
administrative errors
User Profile Ignore User Stop Ignoring
How long do you want to ignore this user?
24 hours One week Permanently Cancel
8:06p, 2/2/22
***
Coming soon:
AE Ventures - sooner than soon
*Psychedelic Retreats
*Physical and mental exercises
*Addiction services

Step 3: property found

Step 4: set date

Step 5: plan agenda for participants, food, logistics etc, integration and counseling post-experience

Step 6: long-term planning

I am amped.
Reply Quote
1
CaptnCarl
User Profile Ignore User Stop Ignoring
How long do you want to ignore this user?
24 hours One week Permanently Cancel
In reply to administrative errors • 10:13p, 2/2/22
AG
I can 100% guarantee no bitcoin miners are curtailing load until ERCOT initiates a load response event.
Reply Quote
administrative errors
User Profile Ignore User Stop Ignoring
How long do you want to ignore this user?
24 hours One week Permanently Cancel
In reply to CaptnCarl • 10:37p, 2/2/22




So you think the miners that wrote the tweet are liars?? I'm confused..
***
Coming soon:
AE Ventures - sooner than soon
*Psychedelic Retreats
*Physical and mental exercises
*Addiction services

Step 3: property found

Step 4: set date

Step 5: plan agenda for participants, food, logistics etc, integration and counseling post-experience

Step 6: long-term planning

I am amped.
Reply Quote
2
Its Texas Aggies, dammit
User Profile Ignore User Stop Ignoring
How long do you want to ignore this user?
24 hours One week Permanently Cancel
8:05a, 2/3/22
AG
I'd like to learn more about CoinJoin. Any recommendations?
Reply Quote
administrative errors
User Profile Ignore User Stop Ignoring
How long do you want to ignore this user?
24 hours One week Permanently Cancel
In reply to Its Texas Aggies, dammit • 8:27a, 2/3/22
Its Texas Aggies, dammit said:
I'd like to learn more about CoinJoin. Any recommendations?

Andreas antonopolous:





***
Coming soon:
AE Ventures - sooner than soon
*Psychedelic Retreats
*Physical and mental exercises
*Addiction services

Step 3: property found

Step 4: set date

Step 5: plan agenda for participants, food, logistics etc, integration and counseling post-experience

Step 6: long-term planning

I am amped.
Reply Quote
Its Texas Aggies, dammit
User Profile Ignore User Stop Ignoring
How long do you want to ignore this user?
24 hours One week Permanently Cancel
In reply to administrative errors • 8:29a, 2/3/22
AG
Thank you very much, sir.
Reply Quote
Deluxe
User Profile Ignore User Stop Ignoring
How long do you want to ignore this user?
24 hours One week Permanently Cancel
8:42a, 2/3/22
AG
Reply Quote
1
CaptnCarl
User Profile Ignore User Stop Ignoring
How long do you want to ignore this user?
24 hours One week Permanently Cancel
In reply to administrative errors • 8:46a, 2/3/22
AG
One tweet says they 'are curtailing load' and one says they have the potential to. Very different.

The miners very likely are curtailing their load because they purchase real time energy prices. Curtailing their load themselves due to the economics not working is very different from participating in ERCOT's demand response program. ERCOT has not shed load for grid reliability since the February 2021 storm.

Twitter is a terrible place to learn about ERCOT programs and power grid reliability.
Reply Quote
administrative errors
User Profile Ignore User Stop Ignoring
How long do you want to ignore this user?
24 hours One week Permanently Cancel
In reply to CaptnCarl • 10:41a, 2/3/22
Agreed.

***
Coming soon:
AE Ventures - sooner than soon
*Psychedelic Retreats
*Physical and mental exercises
*Addiction services

Step 3: property found

Step 4: set date

Step 5: plan agenda for participants, food, logistics etc, integration and counseling post-experience

Step 6: long-term planning

I am amped.
Reply Quote
administrative errors
User Profile Ignore User Stop Ignoring
How long do you want to ignore this user?
24 hours One week Permanently Cancel
11:05a, 2/3/22
***
Coming soon:
AE Ventures - sooner than soon
*Psychedelic Retreats
*Physical and mental exercises
*Addiction services

Step 3: property found

Step 4: set date

Step 5: plan agenda for participants, food, logistics etc, integration and counseling post-experience

Step 6: long-term planning

I am amped.
Reply Quote
1
administrative errors
User Profile Ignore User Stop Ignoring
How long do you want to ignore this user?
24 hours One week Permanently Cancel
11:24a, 2/3/22


More from Jason Lowery and Robert Breedlove on Jason's MIT thesis for the dept. Of defense and mutually assured preservation.
***
Coming soon:
AE Ventures - sooner than soon
*Psychedelic Retreats
*Physical and mental exercises
*Addiction services

Step 3: property found

Step 4: set date

Step 5: plan agenda for participants, food, logistics etc, integration and counseling post-experience

Step 6: long-term planning

I am amped.
Reply Quote
ThreatLevel: Midnight
User Profile
Private Message
Ignore User Stop Ignoring
How long do you want to ignore this user?
24 hours One week Permanently Cancel
In reply to administrative errors • 12:41p, 2/3/22
AG
Agreed on the answer that the only realistic solution would be quite nuanced and complex.

From a country/nation perspective, I think the uncertainty would be most beneficial to drive competition towards increasing hash rate, improving useability/adoption, etc.

Ultimately as it applies to the US and our lawmakers, members of congress etc. I would like to think a reasonable solution would look something like: In order to propose or vote on any bills/legislation/regulations related to crypto, they are required to A) disclose any relevant holdings and/or relationships for transparency or B) abstain from voting.

Public companies should likely also have to register wallet addresses with their entity name for some transparency but ultimately there will always be new methods for attempting to game the system.
Thanks & Gig 'Em
Reply Quote
administrative errors
User Profile Ignore User Stop Ignoring
How long do you want to ignore this user?
24 hours One week Permanently Cancel
6:10p, 2/3/22


Another reason to engorged "The sovereign Individual" I posted earlier

***
Coming soon:
AE Ventures - sooner than soon
*Psychedelic Retreats
*Physical and mental exercises
*Addiction services

Step 3: property found

Step 4: set date

Step 5: plan agenda for participants, food, logistics etc, integration and counseling post-experience

Step 6: long-term planning

I am amped.
Reply Quote
administrative errors
User Profile Ignore User Stop Ignoring
How long do you want to ignore this user?
24 hours One week Permanently Cancel
6:13p, 2/3/22
This is the evidence, this statement:


Apparently that's all we need to state to be accurate.
***
Coming soon:
AE Ventures - sooner than soon
*Psychedelic Retreats
*Physical and mental exercises
*Addiction services

Step 3: property found

Step 4: set date

Step 5: plan agenda for participants, food, logistics etc, integration and counseling post-experience

Step 6: long-term planning

I am amped.
Reply Quote
administrative errors
User Profile Ignore User Stop Ignoring
How long do you want to ignore this user?
24 hours One week Permanently Cancel
6:39p, 2/3/22
Jeeeeezus.





***
Coming soon:
AE Ventures - sooner than soon
*Psychedelic Retreats
*Physical and mental exercises
*Addiction services

Step 3: property found

Step 4: set date

Step 5: plan agenda for participants, food, logistics etc, integration and counseling post-experience

Step 6: long-term planning

I am amped.
Reply Quote
1 edit
administrative errors
User Profile Ignore User Stop Ignoring
How long do you want to ignore this user?
24 hours One week Permanently Cancel
9:02p, 2/3/22
***
Coming soon:
AE Ventures - sooner than soon
*Psychedelic Retreats
*Physical and mental exercises
*Addiction services

Step 3: property found

Step 4: set date

Step 5: plan agenda for participants, food, logistics etc, integration and counseling post-experience

Step 6: long-term planning

I am amped.
Reply Quote
administrative errors
User Profile Ignore User Stop Ignoring
How long do you want to ignore this user?
24 hours One week Permanently Cancel
8:18a, 2/4/22
Forget if it was this thread or another. But consistently I see this behavior change in every new adopter that digs in and "gets it."



Imagine, if everyone took the bottomless consumer glasses off and put the bitcoin orange-tinted glasses on.
***
Coming soon:
AE Ventures - sooner than soon
*Psychedelic Retreats
*Physical and mental exercises
*Addiction services

Step 3: property found

Step 4: set date

Step 5: plan agenda for participants, food, logistics etc, integration and counseling post-experience

Step 6: long-term planning

I am amped.
Reply Quote
1
administrative errors
User Profile Ignore User Stop Ignoring
How long do you want to ignore this user?
24 hours One week Permanently Cancel
10:13a, 2/4/22


With fiat, you have to earn it twice.
***
Coming soon:
AE Ventures - sooner than soon
*Psychedelic Retreats
*Physical and mental exercises
*Addiction services

Step 3: property found

Step 4: set date

Step 5: plan agenda for participants, food, logistics etc, integration and counseling post-experience

Step 6: long-term planning

I am amped.
Reply Quote
5
YouBet
User Profile
Private Message
Ignore User Stop Ignoring
How long do you want to ignore this user?
24 hours One week Permanently Cancel
In reply to administrative errors • 10:32a, 2/4/22
AG
That is grounds for revolution right there. Good lord.

F'ing elitist scum.
Reply Quote
1
YouBet
User Profile
Private Message
Ignore User Stop Ignoring
How long do you want to ignore this user?
24 hours One week Permanently Cancel
In reply to administrative errors • 10:36a, 2/4/22
AG
administrative errors said:
Forget if it was this thread or another. But consistently I see this behavior change in every new adopter that digs in and "gets it."



Imagine, if everyone took the bottomless consumer glasses off and put the bitcoin orange-tinted glasses on.
I'm not going to tie my household's initial expense review directly to BTC (COVID and leaving my corporate job was the primary catalyst for that).

However, I would say that ongoing reviews of spend (see my Monthly Subs thread as an example there) and how we spend our time/money is now factored under the lens of our insane monetary policy in this country.
Reply Quote
1
administrative errors
User Profile Ignore User Stop Ignoring
How long do you want to ignore this user?
24 hours One week Permanently Cancel
10:38a, 2/4/22
Bitcoin isn't a religion... but also



Bitcoin is a religion?
***
Coming soon:
AE Ventures - sooner than soon
*Psychedelic Retreats
*Physical and mental exercises
*Addiction services

Step 3: property found

Step 4: set date

Step 5: plan agenda for participants, food, logistics etc, integration and counseling post-experience

Step 6: long-term planning

I am amped.
Reply Quote
administrative errors
User Profile Ignore User Stop Ignoring
How long do you want to ignore this user?
24 hours One week Permanently Cancel
10:54a, 2/4/22


Okay so the $200 de minimis changed the protocols of the govt allowing the govt to not be so intrusive on purchases under $200 with btc. Not bitcipn purchasing but using bircoin as currency for normal things will be exempt from cap gains under $200.

This is another reminder that BITCOIN just has to exist and THE CURRENT PROTOCOLS of economy will be forced to change... bitcoin ain't changing **** to work within a bad system. The bad system changes to accommodate bitcoin.
***
Coming soon:
AE Ventures - sooner than soon
*Psychedelic Retreats
*Physical and mental exercises
*Addiction services

Step 3: property found

Step 4: set date

Step 5: plan agenda for participants, food, logistics etc, integration and counseling post-experience

Step 6: long-term planning

I am amped.
Reply Quote
Its Texas Aggies, dammit
User Profile Ignore User Stop Ignoring
How long do you want to ignore this user?
24 hours One week Permanently Cancel
11:32a, 2/4/22
AG
BTC above $40k today.

https://www.zerohedge.com/crypto/crypto-spikes-mexican-billionaire-says-bitcoin-better-option-fiat-money
Reply Quote
1 edit
Its Texas Aggies, dammit
User Profile Ignore User Stop Ignoring
How long do you want to ignore this user?
24 hours One week Permanently Cancel
In reply to administrative errors • 11:36a, 2/4/22
AG
administrative errors said:


Okay so the $200 de minimis changed the protocols of the govt allowing the govt to not be so intrusive on purchases under $200 with btc. Not bitcipn purchasing but using bircoin as currency for normal things will be exempt from cap gains under $200.

This is another reminder that BITCOIN just has to exist and THE CURRENT PROTOCOLS of economy will be forced to change... bitcoin ain't changing **** to work within a bad system. The bad system changes to accommodate bitcoin.


I have heard of people who use the Strike app to deposit a certain amount of fiat, immediately buy a small amount of BTC, and send that BTC to a third party to pay for something. The idea is to make the purchase of BTC and the purchase of the good or service with the BTC so close in time that there is effectively no capital gain or loss to worry about.
Reply Quote
Its Texas Aggies, dammit
User Profile Ignore User Stop Ignoring
How long do you want to ignore this user?
24 hours One week Permanently Cancel
In reply to administrative errors • 11:37a, 2/4/22
AG
administrative errors said:
Bitcoin isn't a religion... but also



Bitcoin is a religion?


No, but it is based on truth. Thank God for Bitcoin makes this case reasonably well.
Reply Quote
MRB10
User Profile Ignore User Stop Ignoring
How long do you want to ignore this user?
24 hours One week Permanently Cancel
11:46a, 2/4/22
AG
This should scare the **** out of anyone with retirement savings denominated in USD. Second article was written in July 2021. I wonder if the authors conclusion would be different if it was updated today.

https://www.reuters.com/world/asia-pacific/exclusive-russia-china-agree-30-year-gas-deal-using-new-pipeline-source-2022-02-04/

https://www.investopedia.com/articles/forex-currencies/091416/what-would-it-take-us-dollar-collapse.asp

" Will the U.S. Dollar Collapse?
There are some conceivable scenarios that might cause a sudden crisis for the dollar. The most realistic is the dual-threat of high inflation and high debt, a scenario in which rising consumer prices force the Fed to sharply raise interest rates.Much of the national debt is made up of relatively short-term instruments, so a spike in rates would act like an adjustable-rate mortgage after the teaser period ends. If the U.S. government struggled to afford its interest payments, foreign creditors could dump the dollar and trigger a collapse.

If the U.S. entered a steep recession or depression without dragging the rest of the world with it, users might leave the dollar. Another option would involve some major power, such as China or a post-European Union Germany, reinstating a commodity-based standard and monopolizing the reserve currency space. However, even in these scenarios, it is not clear that the dollar necessarily would collapse.

The collapse of the dollar remains highly unlikely. Of the preconditions necessary to force a collapse, only the prospect of higher inflation appears reasonable. Foreign exporters such as China and Japan do not want a dollar collapse because the United States is too important a customer. And even if the United States had to renegotiate or default on some debt obligations, there is little evidence that the world would let the dollar collapse and risk possible contagion."
“There is no red.
There is no blue.
There is the state.
And there is you.”

“As government expands, Liberty contracts” - R. Reagan
Reply Quote
YouBet
User Profile
Private Message
Ignore User Stop Ignoring
How long do you want to ignore this user?
24 hours One week Permanently Cancel
In reply to MRB10 • 12:00p, 2/4/22
AG
NTXAg10 said:
This should scare the **** out of anyone with retirement savings denominated in USD.
Well, that's 99.99% of Americans who actually have retirement savings.
Reply Quote
4
bmks270
User Profile Ignore User Stop Ignoring
How long do you want to ignore this user?
24 hours One week Permanently Cancel
In reply to Its Texas Aggies, dammit • 12:30p, 2/4/22
AG
Its Texas Aggies, dammit said:
administrative errors said:


Okay so the $200 de minimis changed the protocols of the govt allowing the govt to not be so intrusive on purchases under $200 with btc. Not bitcipn purchasing but using bircoin as currency for normal things will be exempt from cap gains under $200.

This is another reminder that BITCOIN just has to exist and THE CURRENT PROTOCOLS of economy will be forced to change... bitcoin ain't changing **** to work within a bad system. The bad system changes to accommodate bitcoin.


I have heard of people who use the Strike app to deposit a certain amount of fiat, immediately buy a small amount of BTC, and send that BTC to a third party to pay for something. The idea is to make the purchase of BTC and the purchase of the good or service with the BTC so close in time that there is effectively no capital gain or loss to worry about.


Why not just pay in fiat then?
Reply Quote
Deluxe
User Profile Ignore User Stop Ignoring
How long do you want to ignore this user?
24 hours One week Permanently Cancel
In reply to bmks270 • 12:49p, 2/4/22
AG
Instant, free, borderless settlement via lightning. Avoid archaic, expensive rails of legacy financial transaction infrastructure.
Reply Quote
 
×
subscribe Verify your student status
See Subscription Benefits
Trial only available to users who have never subscribed or participated in a previous trial.