Two Plus Two Publishing LLC
Two Plus Two Publishing LLC
 

Go Back   Two Plus Two Poker Forums > >

Notices

Business, Finance, and Investing Making money, investing in markets, and running businesses

Reply
 
Thread Tools Display Modes
Old 04-08-2021, 05:08 PM   #43951
johnnyBuz
Carpal \'Tunnel
 
johnnyBuz's Avatar
 
Join Date: Sep 2013
Location: Beast Coast
Posts: 6,964
Re: Bitcoins - digital currency

Quote:
Originally Posted by rickroll View Post
when you have individuals who can outspend their own governments, nothing ever good happens

In bitcoins case it'll be outspending entire continents
does not compute

johnnyBuz is offline   Reply With Quote
Old 04-08-2021, 05:15 PM   #43952
Shuffle
Carpal \'Tunnel
 
Shuffle's Avatar
 
Join Date: Jan 2011
Posts: 12,829
Re: Bitcoins - digital currency

Quote:
Originally Posted by Good Money View Post
On what basis? As posted above, @ $1M / coin there would be < 2300 crypto billionnaires, but there are already 2800 billionnaires in the world right now. Elon and Jeff don't have currently people taking up pitchforks against them, at least to the extent they need 'lots of guns, a private army [...] and the right kind of allies,' so why would the crypto rich?
Quote:
Originally Posted by Shuffle View Post
[ ] most monetary transactions move to black market <----Bitcoin gains adoption!
[ ] hyperinflation
[ ] the guillotines are out
[ ] 1933
[ ] The Terror
[ ] The Nazis
[ ] The Hordes of Hell

What kind of world is that? Besides, if crypto is a large wealth transfer from old money to new money, the old money are not going to lie down being poors. They are going to make a little bread or save some at the last minute and then use all lifetime resources and connections at their disposal to come after your coins.
Shuffle is online now   Reply With Quote
Old 04-08-2021, 05:38 PM   #43953
johnnyBuz
Carpal \'Tunnel
 
johnnyBuz's Avatar
 
Join Date: Sep 2013
Location: Beast Coast
Posts: 6,964
Re: Bitcoins - digital currency

Global wealth was under $200 trillion in 2010 and here we are at $400 trillion today. By the time Bitcoin gets to $2.5MM (~$50 trillion market cap), global wealth will be considerably higher than today assuming the Magic Money Tree Great Monetary Inflation system hasn't collapsed on itself yet.

Enough with the mad max dystopian tripe. Bitcoin will just keep chugging along consuming global wealth like the black hole that it is.
johnnyBuz is offline   Reply With Quote
Old 04-08-2021, 05:40 PM   #43954
Shuffle
Carpal \'Tunnel
 
Shuffle's Avatar
 
Join Date: Jan 2011
Posts: 12,829
Re: Bitcoins - digital currency

Quote:
Originally Posted by johnnyBuz View Post
Enough with the mad max dystopian tripe.
Please tell us more about how awesome bitcoin will be for micropayments and Starbucks lattes.
Shuffle is online now   Reply With Quote
Old 04-08-2021, 05:55 PM   #43955
johnnyBuz
Carpal \'Tunnel
 
johnnyBuz's Avatar
 
Join Date: Sep 2013
Location: Beast Coast
Posts: 6,964
Re: Bitcoins - digital currency

Quote:
Originally Posted by Shuffle View Post
Please tell us more about how awesome bitcoin will be for micropayments and Starbucks lattes.
You sold at 30 something, called 58k the top for the next several years and generally and have the worst takes in the entire thread aside from TS and case3.
johnnyBuz is offline   Reply With Quote
Old 04-08-2021, 06:19 PM   #43956
Montrealcorp
Carpal \'Tunnel
 
Montrealcorp's Avatar
 
Join Date: May 2007
Posts: 7,731
Re: Bitcoins - digital currency

Quote:
Originally Posted by johnnyBuz View Post
does not compute

What ?

Obviously I doubt , supposedly smart, billionaires not transferring massive amount of wealth outside the US dollar or bitcoin or gold ..


The US worth around 500(?) billions of gold reserve with around 30 trillions of debts and couple tens of trillions of liabilities towards its citizens.

They can print to infinity , it won’t produce more “wealth”

Last edited by Montrealcorp; 04-08-2021 at 06:28 PM.
Montrealcorp is offline   Reply With Quote
Old 04-08-2021, 06:21 PM   #43957
Shuffle
Carpal \'Tunnel
 
Shuffle's Avatar
 
Join Date: Jan 2011
Posts: 12,829
Re: Bitcoins - digital currency

Quote:
Originally Posted by johnnyBuz View Post
You sold at 30 something, called 58k the top for the next several years and generally and have the worst takes in the entire thread aside from TS and case3.
So I take it that's a no, bitcoin won't be good for micropayments or Starbucks lattes?
Shuffle is online now   Reply With Quote
Old 04-08-2021, 06:32 PM   #43958
sbecks
grinder
 
Join Date: Jul 2011
Location: NYC
Posts: 442
Re: Bitcoins - digital currency

I would not be surprised in the least to see US Gov/coinbase regulating withdrawals off exchange or otherwise putting more kyc measures in place. e.g. only permitting to KYC'd address reg'd in your name/ssn, not to another exchange or unregulated address. Just a matter of time imo.
sbecks is offline   Reply With Quote
Old 04-08-2021, 06:52 PM   #43959
hansmolman
old hand
 
hansmolman's Avatar
 
Join Date: Sep 2010
Location: Eating 50 eggs in an hour
Posts: 1,213
Re: Bitcoins - digital currency

Quote:
Originally Posted by Shuffle View Post
So I take it that's a no, bitcoin won't be good for micropayments or Starbucks lattes?
Who gives a **** about buying lattes with bitcoin. Even if it were great for that currently, who the hell is using bitcoin to buy cheap daily items right now? Almost no one.

Enjoy you lattes. The rest of us will enjoy our lambos.
hansmolman is online now   Reply With Quote
Old 04-08-2021, 07:20 PM   #43960
TheGodson
veteran
 
TheGodson's Avatar
 
Join Date: Mar 2013
Location: Merica!
Posts: 2,700
Re: Bitcoins - digital currency

There are some applications to Bitcoin and crypto currency that aren't even discovered yet. This collateral thing is quite amazing if you think about it. Where else can you put an asset up immediately and get a cash loan in return on the internet? Is this not considered a use case?

Crypto currencies are already starting to function more like stocks. I'm not sure if there are any projects out there yet that pay dividends in USDC or other stables. Think about how cool that would be. Projects with developers that produce real world goods/services that also get through unnecessary bureaucracy. It is like a corporation except there is more room in the rules and people can essentially vote on which ones they like by purchasing, selling, or actually voting. Banks, brokers, and all the other middle men are cut out. They can try and stop it, but some of those people are already entering the space, because there is a lot of money to be made in arbitrage, trading, and other stuff.

Coin burning is the equivalent of share buy backs. Paying dividends in a stable coin is the equivalent of getting dividends in the current financial system. Getting dividends in the same coin is the same as having a forced drip thing setup where you automatically buy back the shares with your dividend.

Some projects will be great being decentralized, others will be better being centralized. Government entities might even create their own digital currencies.

There are probably use cases that we aren't even able to predict yet.


On the downside, I believe that we will eventually have government passing laws where we are spied on while using our computers. I mean, everyone already knows this happens, but at that point it will be more legal and to a stronger degree of spying. The reason I see this happening is, because the media will shoot out a big thing about how people are evading taxes and it is damaging government. In this way the government will have a stronger ability to see what we do and be able to tax more people that were sneaking by. In this way the governments of the world are incentivized to allow crypto to happen and have public consensus in alignment with being spied on.
TheGodson is offline   Reply With Quote
Old 04-08-2021, 07:20 PM   #43961
applesauce123
adept
 
applesauce123's Avatar
 
Join Date: Jun 2016
Posts: 754
Re: Bitcoins - digital currency

Quote:
Originally Posted by sbecks View Post
I would not be surprised in the least to see US Gov/coinbase regulating withdrawals off exchange or otherwise putting more kyc measures in place. e.g. only permitting to KYC'd address reg'd in your name/ssn, not to another exchange or unregulated address. Just a matter of time imo.
This was considered, but was shot down. I doubt it happens considering not only crypto people hate it, but the banks hate it as well.
applesauce123 is offline   Reply With Quote
Old 04-08-2021, 07:27 PM   #43962
Shuffle
Carpal \'Tunnel
 
Shuffle's Avatar
 
Join Date: Jan 2011
Posts: 12,829
Re: Bitcoins - digital currency

Quote:
Originally Posted by hansmolman View Post
Who gives a **** about buying lattes with bitcoin. Even if it were great for that currently, who the hell is using bitcoin to buy cheap daily items right now? Almost no one.

Enjoy you lattes. The rest of us will enjoy our lambos.

wat
Shuffle is online now   Reply With Quote
Old 04-08-2021, 07:30 PM   #43963
Shuffle
Carpal \'Tunnel
 
Shuffle's Avatar
 
Join Date: Jan 2011
Posts: 12,829
Re: Bitcoins - digital currency

temp check in this room

Spoiler:
Shuffle is online now   Reply With Quote
Old 04-08-2021, 07:41 PM   #43964
hansmolman
old hand
 
hansmolman's Avatar
 
Join Date: Sep 2010
Location: Eating 50 eggs in an hour
Posts: 1,213
Re: Bitcoins - digital currency

I assure no one is upset about 58k bitcoin except those who tried to time the market at 30k

H
hansmolman is online now   Reply With Quote
Old 04-08-2021, 07:43 PM   #43965
Shuffle
Carpal \'Tunnel
 
Shuffle's Avatar
 
Join Date: Jan 2011
Posts: 12,829
Re: Bitcoins - digital currency

you sound a little mad tho
Shuffle is online now   Reply With Quote
Old 04-08-2021, 08:08 PM   #43966
johnnyBuz
Carpal \'Tunnel
 
johnnyBuz's Avatar
 
Join Date: Sep 2013
Location: Beast Coast
Posts: 6,964
Re: Bitcoins - digital currency

Quote:
Originally Posted by Shuffle View Post
So I take it that's a no, bitcoin won't be good for micropayments or Starbucks lattes?
With non-sequitur takes like this itís no wonder you sold at 30 something.
johnnyBuz is offline   Reply With Quote
Old 04-08-2021, 08:14 PM   #43967
Shuffle
Carpal \'Tunnel
 
Shuffle's Avatar
 
Join Date: Jan 2011
Posts: 12,829
Re: Bitcoins - digital currency

you didn't answer the question though. what will bitcoin actually be good for? you don't seem to have an answer except the price will go up moon lambo go
Shuffle is online now   Reply With Quote
Old 04-08-2021, 08:21 PM   #43968
Shuffle
Carpal \'Tunnel
 
Shuffle's Avatar
 
Join Date: Jan 2011
Posts: 12,829
Re: Bitcoins - digital currency

you guys really do sound frustrated though

could be a sign of retail exhaustion
Shuffle is online now   Reply With Quote
Old 04-08-2021, 08:46 PM   #43969
Montrealcorp
Carpal \'Tunnel
 
Montrealcorp's Avatar
 
Join Date: May 2007
Posts: 7,731
Re: Bitcoins - digital currency

Quote:
Originally Posted by Shuffle View Post
you guys really do sound frustrated though

could be a sign of retail exhaustion
Nah waiting for next stimulus
Montrealcorp is offline   Reply With Quote
Old 04-08-2021, 11:03 PM   #43970
coordi
Carpal \'Tunnel
 
coordi's Avatar
 
Join Date: May 2007
Location: On the shorter side
Posts: 21,400
Re: Bitcoins - digital currency

Quote:
Originally Posted by TheGodson View Post
There are some applications to Bitcoin and crypto currency that aren't even discovered yet. This collateral thing is quite amazing if you think about it. Where else can you put an asset up immediately and get a cash loan in return on the internet? Is this not considered a use case?
Collateral for cash is literally how most loans work. I can get a loan right now online and have cash in my account tomorrow morning with no collateral. Not saying it isnít being done better with crypto, I dunno the specifics, but they arenít exactly inventing the wheel here. Those amazing interest rates are only going to be possible in a raging bull market.
coordi is offline   Reply With Quote
Old 04-08-2021, 11:25 PM   #43971
rickroll
oddly catty
 
rickroll's Avatar
 
Join Date: Aug 2011
Location: serene, serene, puissant, puissant
Posts: 9,986
Re: Bitcoins - digital currency

good money, you keep viewing this in terms of dollars, you need to view it as if there are no dollars and btc is the primary value transfer mechanism

it's not btc = x dollars, it's you own .5% of btc means you own .5% of total currency

i'm aware this isn't the vision of most bulls, but it is the conclusion of following the logic behind adoption

dollars, fed, etc won't exist, in the maximalist end game there are tangible assets like real estate, stocks, natural resources and they will be transacted upon in btc. this leaves those who haven't stored btc nor tangible assets as bagholders and concentrates an unprecedented amount of wealth into <100 individuals, there's no dollar nor fed in the picture
rickroll is offline   Reply With Quote
Old 04-08-2021, 11:40 PM   #43972
Shuffle
Carpal \'Tunnel
 
Shuffle's Avatar
 
Join Date: Jan 2011
Posts: 12,829
Re: Bitcoins - digital currency

Not exactly Rick but you are closer to the mark.

There will still be other asset classes...gold, Fed coin, ECB coin, CCP coin, stocks, bonds, etc. It's not like bitcoin or anything in crypto will ever be 100% of anything. But black market and gray market can and will certainly grow considerably as a percentage of world finance compared to right now.
Shuffle is online now   Reply With Quote
Old 04-08-2021, 11:44 PM   #43973
Shuffle
Carpal \'Tunnel
 
Shuffle's Avatar
 
Join Date: Jan 2011
Posts: 12,829
Re: Bitcoins - digital currency

Tooth is going to be back in this thread soon trolling everyone can't wait
Shuffle is online now   Reply With Quote
Old 04-09-2021, 12:03 AM   #43974
rickroll
oddly catty
 
rickroll's Avatar
 
Join Date: Aug 2011
Location: serene, serene, puissant, puissant
Posts: 9,986
Re: Bitcoins - digital currency

this is literally the most comm only shared post on r/btc

rickroll is offline   Reply With Quote
Old 04-09-2021, 03:08 AM   #43975
CoolTimer
adept
 
Join Date: Feb 2013
Posts: 813
Re: Bitcoins - digital currency

Lol bears coming out of the woodwork again because price is lingering around $55k-$60k and this feels as a victory?

Still the same old tired arguments, ready to get rekt by economic reality again next coming months.

GL!
CoolTimer is offline   Reply With Quote

Reply
      

Thread Tools
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off


Forum Jump


All times are GMT -4. The time now is 12:03 AM.


Powered by vBulletin®
Copyright ©2000 - 2021, Jelsoft Enterprises Ltd.
Copyright © 2008-2020, Two Plus Two Interactive