So useful.... you just hold it under your digital mattress and it will just go up! That's all it is.... another speculative asset with promises of making money. I prefer to have my wealth useful instead of fancy buzzwords... because when all is said and done you have to convert your BTC to something actually useful to use it just like all my non BTC assets. It's still amazing you think you've developed a perpetual motion machine.
Bitcoin, like all useful assets, will go up forever when measured in fiat because fiat depends on the expansion of its supply to survive. Bitcoin is simply outpacing all other assets in terms of value growth because it has the best monetary properties on earth. Its utility as money is unrivaled, and money is a useful tool. Everyone has to do their own homework and park their wealth where they feel it will be best for them. If you want to call that speculating, fine, we're all speculators then. Even the people that hold fiat are placing a bet that their value is best housed in that form. Do you talk this way to people who hold real estate, precious metals, commodities, or stocks? Because you can't pay your bills in gold, homes, or equity, either. So what is your point? Not perpetual motion, proof of work. What's really amazing is you're still here after 10+ years and haven't figured it out yet.
He spends all his time duplicating his posts defending Udoka on reddit and being schit on for it It’s telling when someone spends so much of their effort repeating the same talking points and how AI will be the end of it. the irony is that AI could have educated him in less than 5 seconds and made him some money if he wasn’t so stubborn
Ironically.... you are showing everyone you have the emotional intelligence of a spoiled 8 year old...... LOL bringing Ime into this only confirms how emotional you are. I make money selling high and buying low..... Don't be mad because you HODL your wealth away.
Of course not.... because those assets don't attract the level of Zealotry that you have consistently shown. I remember talking about how money works with you on this thread and you've made crazy claims about BTC being the last currency ever needed by mankind. BTC doesn't do anything new.... you still have to sell higher than you bought and then convert into something useful.... just like stocks, gold, homes, equity, etc. You've invented a new middle man. Making up terms does nothing in the real world ..... 10+ years and you are still HODL? I'm pretty sure I understand.....
You're smart enough to know this has no bearing on anything. Yep. A day will come when Bitcoin will have demonetized everything, meaning assets will only be priced at their utility value and not inflated due to their standing in as a monetary vehicle (namely a store of value/investment). The road there will be gradual and probably very long, but that's the inevitable endpoint. For millennia humans have sought out assets that have monetary properties as a way to store, move, and account value. Until Bitcoin came along, no asset ever had: -Fixed supply and issuance schedule -Digital portability -Infinite divisibility -Perfect uniformity -Unbreakable durability That is all new, and it's all a big ****ing deal, which is why Bitcoin accruing value faster YOY than anything else on the planet. 1) I don't sell my BTC, I take leverage against it, same as I would any other asset. 2) Even if I did sell it for liquidity, why does that matter? The end result is my life is made better via storing my value in BTC. Stocks, gold, homes, and equity don't have the properties I outlined above. They possess inferior monetary qualities, as such, they perform worse over time in the #1 monetary use case of holding value. You claim I'm saying BTC is a free motion machine, when I'm telling you it is the exact opposite. Bitcoin is tied directly to energy consumption and compute power, that is part of what makes it valuable... the fact you can't fake it. People who know what money is (an abstraction of time and energy) get why this matters. You, on the other hand, choose to shove words into people's mouths and your fingers in your ears. It's a remarkable exhibition of hubris.
Failure to address the subject/content signals weakness on your part. Bad look. Can you put a coherent argument together on why AI "threatens" Bitcoin? I've yet to hear it. By the way, how many people in the world do you think are going to be talking about Bitcoin vs. AI? This is a niche of a niche we're talking about here, so what goalpost would you like to create for somebody's opinion to be worthwhile? Is 230K sufficient for you?
Cryptography. Quantum computing. Anthropic is releasing new AI models that are causing all kinds of legacy software and cyber sec companies to tank. Basically any group of hackers with a closet of graphics cards can hack and cause havoc to the entire system. I also don't understand the decentralized concept. If you buy it via a "cold" wallet, how would you have more resources than a billion dollar corporation to keep it safe? I want my money with massive institutions. Couple bad guys break down your door and point a glock at you asking for it's hiding spot, you've lost your entire savings with no insurance policy.
None of that affects the bitcoin network. That's part of the beauty of it. At the end of the day, the base layer of everyone's bitcoin security is simply SHA256 (ostensibly the 12-24 words of your seed phrase). That's empowering for individuals. As far as wrench attacks go, depending on your own personal situation you can put additional physical security on top of it (like a mega Corp would do) and of course practice proper discretion and privacy when it comes to your assets. If a bunch of bad guys break down my door, I'm just as screwed if my assets are held by an institution vs by me. Institutions can be fooled, but with bitcoin you either have the private keys or you don't.
But then you say the below...... So this goes beyond just investment like I said..... which is fine, but does greatly influence your views of the matter. Like I said, we have fundamentally different views of monetary systems. Unless you bought at 80K and need to sell...... which makes all your buzzwords you said irrelevant. Of course then you will tell me about the usual boiler plate speech about not investing money you need in the short term... and about time horizons... which is all exactly the same disclaimer about the "monetary properties" assets that are inferior. 1) Using your assets as leverage isn't new either. 2) For someone with such big ideals and such disdain for modern monetary systems.... you seem to be knee deep in it without realizing it.
The fact you have to state you make money “selling high and buying low” says everything about you. That’s great you don’t buy high and sell low man. I don’t own any bitcoin or crypto, haven’t for years.
What kind of circular nonsense speak is this? My opinions influence my views? What are you going to tell me next? My speech impacts my words? My opinions and predictions are informed by the facts on the ground. I did not start with the premise that Bitcoin was X and then work my way towards Y conclusion. Quite the opposite, really. Namely that I understand what money is and you do not. Speaking of which, another perfect and timely example of you demonstrating your lack of understanding of money. 1) I didn't say it was, but you ran your mouth off claiming I have to sell in order to realize benefit or utility, which is not true. 2) On the contrary, almost all of my wealth is outside of the fiat system.
I am saying how we treat asset classes is differently. Your BTC is more akin to religion than boring financial management from my perspective. Again... this is you: 1) Good thing that Fiat system is the backbone so you can do so. Leading to point 2.... 2) You intend to keep "almost all of your wealth outside of the fiat system" until you die? Do you? You keep most of your wealth outside of fiat.... but then have to use the fiat system to do anything useful with it? Why would a fixed supply system be beneficial for society? I certainly understand how it can be beneficial for the individual trying to retire wealthy.
So this is the video you linked: It's title slide is.... AI X Bitcoin: The Exponential-on-Exponential Thesis so I knew I was in for a ride of jargon and hype.... just like a Zoom meeting when directors are involved. So the thesis is that AI and BTC are both riding up this massive computing and electricity curve. Sounds good at first glance but I actually think they are going to compete against each other. BTC and AI will compete for not only silicone chips, but for electricity and water. Not to mention, with the fall of globalization and rise of more regionalization, more energy will be needed for domestic onshoring of industries. The video makes the argument that BTC promotes synergy and flexibility but where are these BTC mining centers that are developing at the scale to actually do so? Going back to competing for resources, none of the hypercalers are building out crypto mining alongside their data centers to hedge and cash on BTC . I looked into some of the companies mentioned in the video, some like Core Scientific signed a long term deal with Core Weave to convert 300 MW of former Bitcoin mining capacity into AI data centers but others like Bit Digital are just converting purely to AI data centers. The video tries and make the argument that miners are essentially becoming "landlords for power". Seems like a stretch.
Just because people are very passionate about something doesn't change the underlying facts on the ground. This line of argument is a complete dead-end. We all have our assumptions and opinions about what will happen in the future, mine are no more 'religious' than yours. The fiat system doesn't 'allow' me to do it, it forces me to. I would prefer to bypass that system altogether, which luckily is becoming more and more possible every day with salary and bill payments in bitcoin. Not just until I die, but far beyond. My heirs will receive all of my wealth in the form of a Bitcoin trust and will not be allowed to sell it, only borrow against it. We've been over this dozens of times in this thread. Wealth storage and accrual is useful. I'd argue it is the most useful aspect of any monies. The fact I have to exchange parts of my assets (be they digital or analog) for America's Chuck E Cheese tokens whenever I want to play in its economic sandbox is of little concern to me. Passing through that tollbooth is a mild annoyance, but it's not going to stop me or change my long term wealth strategy. We've also been over this dozens of times in this thread. There is no benefit or utility in an expanding money supply when a money exists which is infinitely divisible. Fiat expanding was a feature in a time before Bitcoin (allowing faster and broader economic service for a growing population), it came with an obvious downside of allowing credit bubbles, in particular near infinite government spending. The end result of fiat is savers get punished/diluted and those closest to the money printer (including the heaviest of the indebted) get rewarded. This is perverse and the opposite of how life should be.
Because you have a very broken understanding of economics. The most valuable resource is (human) time. It is by far the most fixed measurement. The second most valuable resource is energy. Fiat is a stupid term. All fiat means is the government decides the value of your time (life). MMT is nothing more than burying your head in the sand and pretending fiat actually works while the world burns all around you. So I have a very simple question for you - What is the best way a person can store (save) their money for 40 years and still retain the same purchasing power? This applies to everyone, not just rich entitled americans who believe they are impoverish because they are too envious of those wealthier than them.
It's always amusing when an Elon acolyte doesn't appreciate there would be no Elon without "fiat" or "MMT" or "cheap money". Can you really with a straight face look around and say "fiat doesn't work"? Are there consequences to fiat? Absolutely, but it certainly works. For 40 years? The best is usually never a single asset but some combo of equities, hard assets, and TIPs/Bonds. BTC has been around for ~17 years so time will tell if it's actually a viable asset class for 40 years.
