As someone who casually bought a bunch of BTC in late 2013 just for fun and never really did anything with it since then, I think the salt mine of btc hater blog posts that come out every time there is a new spike in value are the comedy gold.
Nocoiner predictions: 2021 will be year of comedy gold
21–30 of 70 posts
Re: Nocoiner predictions: 2021 will be year of comedy gold
#22Nocoiner Frances Coppola: "Bitcoin is not scarce because each coin is subdivided into satoshis". These comments are entertaining but seem to get more ridiculous with every year.
*more desperate every year
Re: Nocoiner predictions: 2021 will be year of comedy gold
#23Bitcoin is a novel innovation that is actually useful to some people - it is artificial digital scarcity and a decentralized payment network that is separate from government or any centralized entity. It is totally voluntary. Ethereum is also an absolutely fascinating technology. Some people become “experts” and refuse to see innovation when it is staring themselves in the face. The world can’t change to these people…
Yes, Bitcoin is excellent for money laundering.
Re: Nocoiner predictions: 2021 will be year of comedy gold
#24Weaver's claim about Tether being a vehicle to inflate the price of Bitcoin is odd. The main Tether-BTC transacting I'm aware of is in high frequency trading. Any longterm position in Tether is effectively against BTC (electing to instead hold a tokenized USD). Furthermore, Tether has a market cap only 1/16 of BTC. You can say either are flawed individually, but their valuations are independent. China also has a geop…
one theory I've seen on tether inflation involves loaning tether via margin to people to buy bitcoin, which then pushes up the price of bitcoin, which then allows the tether loaner (that also holds bitcoin) to loan more tether as it's now backed by more valuable assets
Re: Nocoiner predictions: 2021 will be year of comedy gold
#25Network effects' power law nature, desire for a-political money, capital flowing into areas of least constraint & friction etc. seem to be just beginning.
Re: Nocoiner predictions: 2021 will be year of comedy gold
#26This article is a comedy...
Re: Nocoiner predictions: 2021 will be year of comedy gold
#27Bitcoin is a novel innovation that is actually useful to some people - it is artificial digital scarcity and a decentralized payment network that is separate from government or any centralized entity. It is totally voluntary. Ethereum is also an absolutely fascinating technology. Some people become “experts” and refuse to see innovation when it is staring themselves in the face. The world can’t change to these people…
Yes, Bitcoin is excellent for money laundering.
So is cash. Being free from government control can be a lifeline for those living under repression or kafkaesque regulatory morass.
This is what life is like for the less privileged under the anti-money laundering regime:
https://www.reddit.com/r/MakerDAO/comments/de0sys/kyc_is_abs...
Re: Nocoiner predictions: 2021 will be year of comedy gold
#28Bitcoin is a novel innovation that is actually useful to some people - it is artificial digital scarcity and a decentralized payment network that is separate from government or any centralized entity. It is totally voluntary. Ethereum is also an absolutely fascinating technology. Some people become “experts” and refuse to see innovation when it is staring themselves in the face. The world can’t change to these people…
Yes, Bitcoin is excellent for money laundering.
I always hear this argument. Can you provide a source comparing between how much money has been laundered worldwide using cash vs cryptocurrencies?
Re: Nocoiner predictions: 2021 will be year of comedy gold
#29This is the first I have heard of this Tether and Bitfinex story. Seems extremely shady. Does anyone have more details? However, I don’t really understand the distinction between Tether minting coins and people buying gold ETFs.
Tether has a very powerful place in the crypto ecosystem - it is the most widely used stablecoin. It was revealed in a court filing that it was not fully backed, it was like 70%, because governments seized some of the funds (according to Tether). This broke a fundamental promise Tether made - that all USDT was fully backed 1 for 1 with USD in bank accounts. To remedy this, Tether now states USDT is backed 1 for 1 wit…
Tether’s total supply didn’t exceed 2B at any point in 2017 or 2018 and it certainly didn’t fluctuate by anywhere close to that, particularly on the down side, during that period. I think either your dates are wrong or you’ve vastly overstated how much Tether Circle “redeemed” (please explain exactly the redemption process you used) over that period.
Re: Nocoiner predictions: 2021 will be year of comedy gold
#30People like Amy Castor, Peter Schiff, Nouriel Roubini, etc don't seem to fundamentally understand that intrinsic value is completely subjective and that bitcoin being a borderless, trustless, and scarce resource is what makes it valuable to many. Focusing on the negative aspects and neglecting the upsides of what cryptocurrencies have unlocked for millions of people worldwide is short-sighted.