141–150 of 218 posts
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You omitted one of their arguments: > Unlike paying in company stock you do not deal with nonsense like AMT or blackout periods.
so pay in cash, not funny stock.
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I assume you have used credit cards.
Visa is a company processing transactions for a medium of exchange, which is USD (or other currencies). Visa is not a medium of exchange any more than a local bank is.
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> Traders getting out is good for me. Say everyone gets out except you. You own all the bitcoins in the world. Now what?
Assuming the node network and mining remains intact... now you own a pretty valuable and difficult to replicate infrastructure. At least some people will want to own the "native token" of that network.
1 year ago I said... > 'I hope you didn't buy BTC at >$60K.' [0] Michael Saylor and Nayib Bukele (El Salvador's President), etc are all HODLing in drawdown again after buying in at >$40K. They and many others have bought in during the peak mania and the crypto hype of last year which in the case for Bitcoin it really is the wrong time to buy in and is actually the best time to sell. Still has a long way down to go, e…
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What you are saying is kind of orthogonal. Nowadays you can and people do indeed sell crypto in person, and using your wallet. But you use a stablecoin because it's much more convenient since its stable . Then with such stablecoin you have purchased, you swap it for your desired altcoin either on a centralized exchange or decentralized exchange. I don't agree with the other comment that the USDT/Altcoin pair is such…
> But you use a stablecoin because it's much more convenient since its stable. I don't know how to say this without sounding snide but I am genuinely curious: you need to back every single part of that sentence up with some serious citations. Specifically can you challenge my perception that you're advocating for option B of the following: Option A: find someone to trade for , haggle, transact. Option B: trust some t…
You can check binance and other sites that offer P2P listings and you'll find that most of the listings nowadays trade stablecoins. I can't easily cite that for F2F (face to face) but I have done F2F trades many times and it's always with stablecoins
> Specifically can you challenge my perception that you're advocating for option B of the following: Option A: find someone to trade for , haggle, transact. Option B: trust some tentacled bio-monstrosity to perform sophisticated transaction chains with a ton of misaligned incentives at each layer.
Option A isn't viable. That's basically barter economy, and the same reasons why people use money instead of barter in the real world apply. You have a thousand+ of different coins/tokens/etc. So that's 1000^2 pairs if you wanted a pair for each combination. Obviously impossible.
So before stablecoins existed, BTC was the crypto that everything had a pair with. You would buy BTC and then trade that to something else. But with stablecoins most people moved to that because you don't have the volatility that BTC has.
> Option B: trust some tentacled bio-monstrosity to perform sophisticated transaction chains with a ton of misaligned incentives at each layer.
I don't know what you mean exactly by that loaded statement. But CeX are extremely simple in the way they operate. Of course the problem is if they are doing something not legit. DeX such as uniswap are a bit more complex but not that complex really.
To put things into perspective, what do people do? A) Buy AAPL through NASDAQ (with a broker as an intermediary) using dollars B) Trade AAPL for WMT over the counter
Of course A. B would be not only extremely situational, but also impossible unless you are really big investor.
I was laughed at, repeatedly, on Twitter, by crypto types when I often said I was confident Bitcoin price would fall below $20k 6 months ago. It's not something you can really short though?
I’ll bet you $10k USD that Bitcoin goes over 30k in the next 4 years. What does your crystal ball say about that?
I also wouldn't take your bet as I think bitcoin likely will go above 30k in the next 4 years. What is also likely is that the price will remain volatile - unless there's a major game changer I think this volatility will keep putting a lot of people off (with an impact on price).
I have no idea what the price will be in 4 years time. My guess says under 50k. But I wouldn't be surprised if it hit 200k.
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Storing wealth in an -inflationary- asset like fiat currency is a stupid move, I grant. I store value in a mix of fixed quantity or -deflationary- assets that are useful or interesting to me like art, vehicles, real estate, and yes... crypto-assets. The latter is perhaps the most volatile but also has the highest liquidity, is fireproof, can be traded for other assets anonymously, etc. Tradeoffs.
Calls fiat currency inflationary while advocating a "currency" that has had (as of this moment) 45.92% inflation YoY and is rapidly getting worse. Nice religion you got there.
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Bitcoin has value for the same reason Visa has value. A medium of exchange is a tool, and tools people use have value. I grant the majority of the market is speculation but many of us actually regularly use Bitcoin for things like payroll, settling debts, cheap international value transfer, buying coffee, and for cash-like privacy for online purchases. For those like me that have been continually buying, saving, and…
> Bitcoin has value for the same reason Visa has value. No. Bitcoin has utility. Screws have utility also, they just don't have very much value.
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It will never drop to 0, barring no fundamental security flaws are discovered, because there will always be people like me that are never willing to sell and always willing to buy more. If it hits $1, I will just stock up. Traders getting out is good for me. I am in Bitcoin, or any really viable replacement that emerges, long term for reasons fickle speculators do not care about. I fundamentally believe a healthy soc…
> Traders getting out is good for me. Say everyone gets out except you. You own all the bitcoins in the world. Now what?