Opposite for me. I'm likely going 80/20 in favor of ETH. Already switched to 60/40 in favor of ETH, weighing my options still in light of the taxes i'll have to pay.

Good luck sir.

Overall pretty reasonable and fairly similar to my points of view. I wanted to buy more ETH when the BTC/ETH pair dipped, but... well, at this point I'm just bagholding the BTC I have at this point. ETH too expensive.

I don't think the BTC/ETH ratio matters too much overall as long as the vast majority of core exposure is there, both will do quite well. I'm more bullish on ETH but I view BTC as more of a sure win. Bottom line is that owning either is just crushing normalized returns in the stock market, private equity, business, whatever. How far one needs to push the envelope to maximize off of already insane returns is somewhat debatable/subjective.

A problem with Case3's argument is that while he's obviously correct, it is negative sum, it's that he asserts that this is a bad thing which is fundamentally not true. Poker is a negative sum game and yet here we all are on this forum for a variety of what I'd argue are quite positive reasons. So many things on the planet are negative sum in terms of winners and losers and yet that's not bad. Cryptocurrency has led to an ongoing spur in FinTech development, democratization of money, competition against corruption in governments and so much more. Focusing only on the fact that miners get paid out and whatever else is completely missing the point.

Most of these arguments also just never even come close to holding water relative to the fiat equation either. Okay, so BTC has all these costs. Well what about the USD? Does it just come for free? Obviously not. There's insane costs associated with it's production and distribution, meaning that the USD is also negative sum. Is that a bad thing? Definitely not.

You were saying BTC to 500k is a sure thing and several million dollar bitcoin was likely. Now ETH is outperforming BTC in the short term and you're more bullish on eth. lol

Who has the best track record in BFI? I'm betting it's Two Shae.

Bill Maher sounds mad he didn't get in.

https://youtu.be/HaJpYjO136o

This

I never understood the superconfident directional takes.

Even if they are right, I hope they at least put their money where their mouth is, and if they have some rebuttal about shorting today like "the ponziwave will probably go higher first", then why not ride it to the top then short the way down holding USD as collateral and make all the money off this bs?

That is the way. That is gto if you know what way the line will move.





Sent from my SM-A515W using Tapatalk

Guessing Kazuya is waffle crushing. Not like Twoshae isn't too tho.

I've always quite liked Maher, but this level of ignorance and arrogance makes a Fox News host look tame.

I love how he juts his jaw out like "Hmmmm my audience is full of idiots" when they cheer for Dogecoin.

Question: From 1933-1975 gold was banned and confiscated by the U.S government by making it illegal to own and the government bought the gold held by private individuals at more or less market value. What's to stop the governments of the world to do this to cryptocurrency if it becomes developed and adopted enough to challenge the U.S.D as the world reserve currency in the future?

Hard to confiscate Smth you can store in your mind.

You can’t memorize a million dollars worth of gold and carry it in your brain across borders.

This week I learned that this is what $800,000 dollars of confiscated Bitcoin looks like:

haha it was fun, he made some valid points but like most people he confuses bitcoin with blockchain technology

This is a valid concern. It really doesn’t matter if you can have Bitcoin if you can’t exchange it for anything. I actually typed out a possible future in my last post before 2+2 randomly refreshed.

Suppose the dollar collapses and they adopt crypto currency. Lets say the US creates Fedcoin which is backed 1 to 1 with Bitcoin. It essentially is wBTC but also has smart contracts and is easy to transact because it is centralized. It also is the only crypto coin that has no capital gains tax. Fedcoin has smart contracts for things like sales tax, government kickbacks, etc.

One day the government decides to hide the Fedcoin Blockchain from the public because of a made up reason such as other government interference, while the real reason is to create more Fedcoin to stimulate the economy. A few years go by and the government passes another law that makes it illegal to own Bitcoin and must be turned into Fedcoin by a specified date. What they say the reason for this law is, is to counter tax evasion and illegal activities while the real reason is to hide the fact that Fedcoin is no longer backed 1 to 1 by Bitcoin. Further more, congress passes an additional law that allows the government to audit your computers and other electronic devices. Or the government decides it is illegal to own electronic devices like computers and phones. Then people will rent them instead of owning them allowing tech companies to become even more profitable. Then currency crashes again and the cycle repeats.

THE END

What does that changes anything on his question.

You really think in 1933, all citizens were 100% giving their gold away or some said hell to government and hold their own gold ?

i dont think millions of americans have millions of $ worth in bitcoins.
Some do obv. but no policies are 100% efficient anyway.

It do not means it cant happen in the future.

To clarify, the questions is: What is to stop Russia, China and the other governments of this world collectively banning Bitcoin if it threatens the USD as the world reserve currency, because the US government banned gold before?

Do you know how many people invested in bitcoin after turkey baned bitcoin?
Take a look and talk to me later
I wish they ban it in USA as an european myself. Bitcoin would get an huge pump and premium long term

They can't take normal individually held cold storage money, but of all of the crypto, mostly the important ones held on exchanges like BTC/ETH, they could certainly do this if they wanted to. It's probably one of the bigger pieces of the pie of the "not your keys not your coins" narrative when specifically talking about major exchanges in developed countries like Coinbase.

Granted, I think that's still unlikely. But very far from impossible.

I'll admit that it's one of many reasons I'm not using BlockFi lending.

Today Munger and Buffett, two of the greatest investors of all time did make their negative comment on bitcon:

https://www.yahoo.com/finance/news/b...205930375.html

Bitcon was $57,824 when these comments were made. It then plunged to $56,665 but is now $56,999 down 1.4% or over $14 billion dollars just as I predicted. You're welcome.

Bitcoin down 1.4%????????? Someone alert the press!

I'm sorry but Buffet and Munger have so little clout in 2021. You're living in the stone age bud.

It's nothing more than the mutterings of old men who love their banks.

Dude I'm sorry but you consistently post the craziest nonsensical illogical shit.

RedOak has to be trolling lol. Probably owns more bitcoin than all of us.

They're only a few of the best investors of the century. In the next bear market they'll probably make a lot of money.