Well, finally a well written and articulated post without cultish acronyms. Was it that hard?
1) It is way higher than 2.5% in developed world with purchasing power. I don’t see how people in rural Afghanistan helps the price grow.
2) This implies Bitcoin will do something better in 5 years compared to today. I.e. when Tesla was a startup you could say one day it will make car,s you should buy TSLA stock today. What will Bitcoin do in 5 years?

“ “ According to data from BTC.com, it would currently only take collusion from four mining pools to successfully pull off some sort of mining-related attack such as transaction censorship or a blockchain reorganization. To make matters worse, two of those pools are owned and operated by the same company, Bitmain.”

What’s your take on this? You think this is somehow better than traditional financial/government system and why?

Better yet, is there anything you find bad about Bitcoin and crypto in general? Any red flags at all or it’s all just FUD?

The following are posts of yours from a year ago. You state that a $100k/year job would be better than the job of a poker professional, and that if you're still playing in a few years you'd have failed miserably at being in a position to retire.

Some might find it strange that you simultaneously hold the views that you'd be in a better position if you had a $100k annual salary instead of playing poker, yet you don't regret the missed generational wealth that Bitcoin would have given you because your poker games "are insane rn."

Damn youre right, maybe I should put 98%

Right, a year ago, not 10 years ago. First of all, I was talking about people just getting into poker, not anyone already winning. Another thing is longevity and lifestyle that comes with it. Someone with a 100k job at 30 will be making at least double at 50 or 60. Poker player making 100k at 30 will be making way less at older age. I will be 35 in 5 years and I still hold the same position. If I’m still playing at 35 I definitely failed miserably.

Games went from people waiting for BB and not straddling in 5/10 games to ripping 30k with QQQ8. This is definitely my last wsop playing, didn’t even plan to stay this long but it’s hard to pass on free money.

So what about my last years posts is inconsistent with nowadays?

Have you been playing at Aria?

First 2 weeks, mostly Wynn lately. Aria lists are too long around this time and games are slow when they first open.

OP made it clear that this was a rough number and it does a fine enough job showing that adoption is still low. Whether you look at adoption %'s through global or developed world populations doesn't really matter. The numbers are low and following similar growth trajectories to other networks that have had a huge impact on society and culture. What makes you think that trend will stop?

You also did not address the second number mentioned which is adopter's relative BTC positions will continue to increase over time.


Nothing. That's the point.

BTC.com is owned by a Chinese mining pool so I question whether that data
is presently accurate.

The white paper clearly addresses the game theory behind why it doesn't make sense for miners to do anything shady on the network. Even if they did, they could only mess with the most recent blocks and would need to get validation from nodes on the network.

Yes, this represents a risk to the network, but not enough for BTC to not be a +EV investment.

I suggest re-reading the white paper and brushing up on some bitcoin, economic and history fundamentals to understand why BTC is better than the traditional financial/government system.


There are dark sides to all new technologies. That doesn't make them bad or outweigh the good they bring. Pandora's box has been opened on this so none of that matters anyway.

Most of the objections to bitcoin have merit:

1) environmental impact
2) facilitation of ransomware attacks
3) dubious value of tether
4) poor user interface
5) value proposition entirely an intangible
6) difficulties in secure storage
7) volatile

Every asset has pros and cons, the assessment is whether it is on balance positive and/or better than the alternatives. I think some of the drawbacks of bitcoin will lessen over time: environmental impact, poor user interface, storage. The tether issue is well publicised so is presumably priced in and a reckoning might be preferable to a perpetual sword of damocles - tether isn’t needed for the crypto ecosystem there are alternatives.

If an asset is perfect it’s price will probably reflect that and not be an interesting speculation. An imperfect asset that has room to improve is a more attractive proposition. When I looked at how difficult it was to invest in bitcoin a while ago and how clunky the experience was I viewed that as a positive: the barrier to entry would lessen and the value would appreciate. This is an ongoing process as testified to by the increasing adoption.

If adoption fails to increase that would be very negative for bitcoin suggesting that the hurdles/problems are not being overcome.

Btc transactions are not currently being censored and as Dylance states there are reasons to think they won’t be in the future.
Fiat transactions ARE currently being censored and there are reasons to think they will continue to be in the future.

Not currently but, technically, they could be. That’s enough to not call it permissonless anymore. And idea is to concentrate worlds wealth in hands of centralized mining pools? 1 cpu 1 vote is long gone. Actually, most of the things Satoshi talked about are long gone. Reading whitepaper again is a waste of time, it starts with “electronic peer-to-peer cash”, it stopped being that 4-5 years ago. It’s still called a currency, but if you spend it you will be mocked by your peers for spending it. Paper hands biatch

@dylan

Growth trajectory is orders of magnitude lower than contemporary technologies.
Smartphones, social media, Android, YouTube just from top of my head all came out about the same time as crypto(maybe 1-2 year earlier). User base is in billions, and I mean actually users like using it for something. I held crypto over 4 years, there was not a single day that I used it for anything. But fine, maybe it was just my personal experience. What do you use crypto for in day to day activities and how it improved your life? Other than numbers go up, obviously.

If the growth rate is slower but the end point is similar I don’t think it matters.

I use my crypto in defi to earn a yield. It’s a financial asset what more do you want it to do, do your equities or other financial assets do anything besides change in value or offer a yield?

30k with trup QQ

But how much did he lose?

How many people are in BTC due to concerns about hyperinflation? Long term dollar bearishness and eventual end of reserve currency status isn’t a controversial view. But hyperinflation is. I don’t see it happening, a slow decline is more likely imo. Regardless, I’m not sure it’d impact the price as the Dorseys of the world will always believe it’s right around the corner if it doesn’t materialize.

have you all got your free $80+ in crytp from coinbase? literally free for answering questions. you get unlimited tries to get the right answer. convert the cyrpto to usd then ship to your bank

You appear to be making a "respectable" profit from poker- enough to get by, but you're a long way from being able to retire from it, by your own admission. There's nothing wrong with that and I commend you on your poker performance.

However, this is a long way from the life-changing money you could have made from investing in Bitcoin. You could have multiplied your net worth exponentially. I am also not knocking your failure to have done this. (And admittedly, my own exposure to Bitcoin is more through luck than planning.)

What I am highlighting though, is that the perception you are trying to feed yourself and others- that you're reaping the same benefits of Bitcoin's price rising through your increased poker earnings as if you held Bitcoin yourself is clearly false. Your logic and reasoning surrounding Crypto is weak, and you are kidding yourself that you haven't missed out with Bitcoin.

You wanna bet 30k this actually happened 2 nights ago at the 50/100/200 Wynn?
He actually won the hand. Not just you, anyone in the thread can take me up on this offer. This was clearly an extreme example, not an every hand occurance.
Enough to get by lol. I’m 3 weeks away from retiring.

My logic and reasoning surrounding crypto is shared by 98% of population. That’s why I don’t see mass adoption pretty much never. Crypto UX is just beyond terrible and extremely user unfriendly.

I also missed out on not hitting the powerball. I also missed out on SHIB which seems to be an even better performing asset class.

We also clearly disagree on crypto profits, I don’t think paper gains = actual realized profit.

Technology diffuses through the population in an S-curve pattern. Easily googleable. It is highly improbable, perhaps impossible, for a new technology to quickly diffuse. There is always a group of early adopters.

You could say any of this about the internet in the 70, 80s, and early 90s. 98% of the population doesn't use it, never thought they would, the UX was terrible, and surely very few believed it would one day engulf the world.

What would be truly bizarre is for a new technology to hit the scene and instantly take off despite no prior societal exposure to it or existing infrastructure to support it.

As a rule, the more novel or risky an invention, the longer it takes to diffuse through society.

Bitcoin taking a long time to diffuse is not a good point for or against it. I mean, it's not taking a long time, but we are transitioning into an era in which "a long time" is getting much shorter.

Congratulations on what must have been a ground-breaking last 12 months then.

Ironically, there's that faulty logic and reasoning again. (EDIT: As explained in more detail in the post above.)

Yes, but that isn't a gift-horse that bolted, that you are infatuated with. Presumably you don't post every day in a Powerball forum?

I think that's moot, but at least we can agree on that fact that zero Bitcoin = zero paper gains.

In other words, we're still very early. Sounds good to me!

No I do not. I’m not a sick HS plo crusher, can’t afford 30k bets.

First you compare it to internet in the 70s but after you say we are in an era where a long time is much shorter. We are not in the 70s, there are numerous examples in the past decade of technology adopting way faster than ever. Infrastructure is there, what’s the obstacle? Android was released in 2008, it has close to 3 billion users. Why isn’t it adopting as slow as crypto?

Yeah, I already knew crypto bros and real money don’t really come hand in hand. Are you sure tho? You seem to be sure I was lying, it’s a freeroll. You can use 30k, buy half of BTC and take it to the moon.

@MeleaB

If powerball players pretended they’re saving the world and doing something productive instead of straight up gambling , I probably would.

I never accused you of lying, idk what you’re on about.

Cool, my bad. It definitely sounded like you did. I apologize.

probably equally bad of an idea as going 100% long crypto