Being as even minded as I can, I'm on the fence about if this is a net good. It was inevitable the government set up a narrow road for crypto, with accompanying regulation. This is the groundwork. Some stablecoins will go down this road and others will be prevented from using it.

How this is good for a currency that prides itself on being a separate system is something only a person who can hold logical contradictions in their mind can understand.

GlassGlazer could learn a few things about posting from you. You're funny at least.

Aren't you out of crypto because the coinbase IPO means the death of crypto?

notice this fraud still doesn't want to pick up the free money to verify his profits. Doesn't even wanna discuss it lol

The current iteration of crypto yes. Bitcoin and ethereum are as good as dead in the long run. Proprietary cryptos like Libra, AppleCoin, and a FedCoin are on the horizon.

Still waiting on an offer for this. Will totally do it if it's a significant amount of money and we can arrange a verifiable method.

Wittgenheiny is a troll, thread would be better off if everybody put him on ignore. I am as guilty as any for engaging with him and here I go again.

He's obsessed with the confluence of Bitcoin and Wall Street, based off this thread and the Coinbase IPO one. Probably heard about institutional investors from the news and came into this thread to test his hypothesis that it's bearish news. When he got some push back he claimed to have made $2 million from BTC but in the same thread he said he only owns it as a hedge. Maybe he's super rich and his $2 mill position was just a hedge but no, he's just a troll.

in case you have not noticed anybody who is bearish bitcoin is a troll and a idiot according to bitcoin bros

Put your fingers in your ears; that will make the bad man go away.

I thought they valued censorship resistance? Why they so actively interested in censoring anyone who think their digital pony has no legs. These no coiners are so freaking confused.

I think a lot of them, and probably some in this thread, know that shitcoin will never be anything they just treat it as a high risk ponzi they hope they can get out of. No shame in that.

Absolutely no shame in that but none of them are admitting that's their goal or perception.

Well people have been calling BTC a scam and a ponzi since it was below $100. I am always open to well-reasoned bull and bear case on any investment. But I respect people who are willing to admit they were wrong. In this case, BTC bears thought it would never reach widespread acceptance as a store of value. They were wrong. It's ok to be wrong.

People were calling Madoff's scheme a ponzi for years, and guys like you were saying well you were wrong, until they weren't.

Was I wrong for telling people bitconnect was a ponzi before it was a known ponzi? Or was I right the entire time, and only people realized I was right when the music stopped? So was I wrong but then right? Or was I right but looked wrong but was right?

PS it's not wide spread acceptance of as a store of value, nobody is buying bitcoin to retain purchasing power, they are all buying it to speculate on gains. Massive difference!!!!!!!!

Bitcoin isn't a store of value. No sane person would ever put anything in it they couldn't afford to lose. It's not widely adopted for this reason. If it held it's value you might have an argument. At the current time, you're wrong.

Just because something has a high price doesn't mean the bear arguments against it were wrong. Nortel had billions and billions in market cap and Nortellers were just as obtuse, obnoxious, and obstinate as bitcoiners are now.

Bears were correct about it never becoming a widely used means of payment, and that's what Satoshi's whitepaper said it was. They'll be right about it not being a store of value eventually too. The only question is what coiners will morph bitcoin into next. Bitcoin is a solution without a problem. Ya'll are gonna learn the hard way.

The bet is still open if anyone wants to make me an offer.

Bitcoin price Go's up

I'M getting rich
Stay poor no coiners
Look at these gains, you have to be a idiot to be on sidelines
Asymmetric risk, gotta get in just in case

My Gold price Go's up
Gold is retaining it's purchasing power
Dam Dollar likely falling, good thing I moved my currency to money where the risk is hedged

Gold stocks
Dam look at those gains, they freaking chugging along. At this rate Ill be a millionaire next year
Holy **** these swings are incredible, -40% to +120% in just weeks, what a ****ing roller coaster, this investment takes hands of steel to ride through


Bitcoin and the participants do not resemble anything suggesting it is a store of value, however they do resemble the emotions and swings of a risky investment although the people buying it claim it's a digital good equivalent to Gold!!! Cognitive dissonance at it's finest.

Exactly, BTC is an acid test of intelligence, and being able to change your mind on complex subjects you hold strong views on shows intelligence.

Personally I only bought BTC in Jan 2017 as before that although I knew about it and loved the concept I thought governments and controlling authorities would find a way to shut that down and therefore it was doomed. It took me until then to realise that shutting it down is impossible and a giant waste of time and money for anybody who tries. The competent governments realise this already.

Even with that I am extremely happy with my gains since then and congratulate the very early investors, especially those that have not sold much till now. I can still see 20x gains from here within the next 5-15 years. The problem is I can also see 1 BTC being generational wealth in 200 years time.

there's your problem... you just don't get it.

Ahhh but you do because number go up!

I think you honestly should reconsider what a store of value is. Or what money is. Or gold. Or anything else we humans have collectively agreed is worth something.

I'd recommend this fairly brief overview written by Tyler Winklevoss which makes a pretty compelling case (YMMV of course) for Bitcoin as a superior store of value to assets such as gold and oil.

https://winklevosscapital.com/the-ca...-500k-bitcoin/

Now of course, you can make the argument that, as holders of massive amounts of BTC, the Winklevoss twins have a strong financial incentive to convince everyone how awesome it is. However I prefer to judge based on the validity of the arguments, and not on whether the arguments happen to align with the author's self-interest.

I got a ounce of Gold nobody believes my ounce of Gold is worth anything, why can I still extract value from the Gold regardless if the perception of value is gone from man?

I got a bitcoin nobody believes it is worth anything, how will I extract value from it when all the perception of value is gone?

The answer is

Gold has properties that maintain it's value regardless of perception

Bitcoin has no properties that give it any value, the only value it has is purely based on perception

Where did the value go that bitcoin was storing?

Why did the value Gold was storing still there?.

Also really rubs me the wrong way when you guys try and claim bitcoin is like Gold or even better but you do so using Gold to tell me these ridiculous things. Why not use bitcoin to tell me that, but at the very least don't use the actual metal that you're claiming is like bitcoin but worse, it makes you look dumb.

.

Bitcoin was invented in 2008, it's too early to say it will ever, or will never, be a "widely used means of payment" (whatever that means to you).

How can regulation be a bad thing for crypto? If you want big institutions to buy into crypto, they can't buy in without regulation!

It's only bad if you have a preconceived mental image that bitcoin is only used by criminals and pedos on the black market!

I can appreciate a good burn.

Gold is physical while bitcoin is virtual...

Wouldn't the worst thing for crypto be all the coins hoarded by a few funds and whales? Isn't it supposed to be the people's currency?