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Merged Bitcoin - Part 3

psionl0 said:
That's what happens when you don't read a thread before posting.

Most people know that there is a hard limit of 21 million BTC that will ever exist - unlike the German Mark. Like your crystal ball predictions, your posts shed no light whatsoever.
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Aww, that's cute. You think the amount of bitcoins is somehow tied to their price.
 
Soon the magic 21 million cap will be exposed for the hoax it is.
21 million bitcoin clones can never be prevented unlike the unique proton neutron combo that makes a gold nucleus.
Hodlers are joining for a lovers leap.
 
Samson said:
Soon the magic 21 million cap will be exposed for the hoax it is.
21 million bitcoin clones can never be prevented unlike the unique proton neutron combo that makes a gold nucleus.
Hodlers are joining for a lovers leap.
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Just to show that there is nothing new in these bitcoin threads, readers should check out post #1600.
 
psionl0 said:
Just to show that there is nothing new in these bitcoin threads, readers should check out post #1600.
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Repeating the debate does not invalidate. It is the infinite supply of cryptos that trumps the human construct of 21m bitcoin 1's.
There is a long term trend on the log chart about to be broken, no floor exists.
 
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Samson said:
Repeating the debate does not invalidate.
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Yes it does. I proved that even if other cryptos could divert money away from bitcoin, it would not make bitcoin go to zero. You even admitted that yourself.

Ever since, you have been trying to pretend that exchange never happened but I will never let you forget it.
 
psionl0 said:
That's what happens when you don't read a thread before posting.

Most people know that there is a hard limit of 21 million BTC that will ever exist - unlike the German Mark. Like your crystal ball predictions, your posts shed no light whatsoever.
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I was just illustrating what volatility means. If I'm a manufacturer of wigets in the crypto-currency world, I'd like be assured that my input costs don't suddenly exceed my sales price the next time I go to buy my materials.
 
Gord_in_Toronto said:
I was just illustrating what volatility means.
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No you weren't. You were equating apples to oranges (something that has been done many times in the bitcoin threads).

The demand for bitcoin may be volatile but the supply isn't - unlike the German Mark where the government was able to crank the printing presses into overdrive.
 
Gord_in_Toronto said:
I was just illustrating what volatility means. If I'm a manufacturer of wigets in the crypto-currency world, I'd like be assured that my input costs don't suddenly exceed my sales price the next time I go to buy my materials.
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Of course that just illustrates its failure as a currency, nothing is priced in bitcoin only in real money that you can exchange based on what ever the value of bitcoin is at that specific time.

Now I am imagining agreeing to buy something on a net 30 schedule and pricing it in bitcoin.
 
To be fair if age fluctuated as much as Bitcoin's value being a pedo would be harder to avoid.

"Crap she was 21 when we started! I swear!"
 
SuburbanTurkey said:
It's pretty obvious why Bitcoin crashed. It turned 13 and libertarians lost interest.
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Bitcoin didn't really crash. It's slightly bellow half of ATH, and about 10 times more than 2 years back. It's still higher than 2017 bubble.
Luna crashed .. but it wasn't 13. So yeah, another lame joke. But at least this was somewhat easy to spot.
 
psionl0 said:
Yes it does. I proved that even if other cryptos could divert money away from bitcoin, it would not make bitcoin go to zero. You even admitted that yourself.

Ever since, you have been trying to pretend that exchange never happened but I will never let you forget it.
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Why forget what I believe and always have? I agree with Buffet and Munger and hope cryptos become a means to transfer reliable funds for poor countries without their cheap electricity being ravaged by rapacious neer do wells.
 
Samson said:
Why forget what I believe and always have? I agree with Buffet and Munger and hope cryptos become a means to transfer reliable funds for poor countries without their cheap electricity being ravaged by rapacious neer do wells.
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Whatever that means.
 
psionl0 said:
No you weren't. You were equating apples to oranges (something that has been done many times in the bitcoin threads).

The demand for bitcoin may be volatile but the supply isn't - unlike the German Mark where the government was able to crank the printing presses into overdrive.
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Yes I was. Cryto-currencies manipulated by speculators are worthless for real world use if they fluctuate in value from minute to minute.

Take a look at whats happened to the AKA "investors" in LUNA:
How a Trash-Talking Crypto Founder Caused a $40 Billion Crash
https://www.nytimes.com/2022/05/18/technology/terra-luna-cryptocurrency-do-kwon.html

The downfall of Luna and TerraUSD offers a case study in crypto hype and who is left holding the bag when it all comes crashing down. Mr. Kwon’s rise was enabled by respected financiers who were willing to back highly speculative financial products. Some of those investors sold their Luna and TerraUSD coins early, reaping substantial profits, while retail traders now grapple with devastating losses.
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Though, of course, some made out OK:

Pantera Capital cashed out 80% of its Terra investment before UST crash

https://www.theblockcrypto.com/post...tal-cashed-out-80-investment-before-ust-crash

Since Pantera exited most of its investment early on, it generated a significant profit, per the firm. The firm turned $1.7 million into around $170 million, Paul Veradittakit, partner at Pantera Capital, told The Block.
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Captain_Swoop said:
Whatever that means.
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Try This:

https://www.newshub.co.nz/home/tech...e-offers-hope-for-slowing-climate-change.html

Prominent investors may find bitcoin bear markets a bore. But research shows the environmental losses from high-priced cryptocurrencies are far more disturbing.

The damage caused by bitcoin mining disproportionately affects poor and vulnerable communities, as mining outfits and crypto developers take advantage of economic instability, weak regulations and access to cheap energy.

Locals wanting to use these resources for productive purposes can be priced out by bitcoin miners. These communities also tend to face the sharp end of the climate crisis, which crypto mining fuels.
 
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