Former US SEC attorney: 'Get out of crypto platforms now'

Post by solveit » Tue, Jun 20, 2023, 10:15 PM UTC

mrguyorama wrote: post #208

solveit wrote: post #190

Earlier quoted context omitted.

His point stands though. The general public can't know exactly when Bitcoin will collapse, because if they could, it already would have collapsed.

His point is built on a theory with as much scientific rigor as Freud's penis envy work. If economics was a functioning field of scientific study, The list of top 100 richest people would all be economists withholding scientific findings for their own gain, not a bunch of rich kids swinging their money dicks around.

Post by icedchai » Tue, Jun 20, 2023, 10:18 PM UTC

codegeek wrote: post #163

cs702 wrote: post #58

Three highly speculative predictions: 1. The courts are more likely than not to rule that many crypto-assets -- but not all -- should be regulated as investments. It won't be fun for a lot of crypto traders. 2. Over time, the usual giant financial institutions are bound to become the dominant market makers in crypto-assets. In all likelihood, one of them will end up buying Coinbase. Those giant financial institutions…

"The longer Bitcoin survives, the more it will get adopted and integrated into the world's financial fabric," How long do we need to give Bitcoin a chance to gain mainstream adoption as its been 15 years already ? So far I don't see much real use except speculation, extortions, get rich quick scams and websites where you want to be anonymous. For the most part.

Post by paul_grisham » Tue, Jun 20, 2023, 10:18 PM UTC

BasedAnon wrote: post #72

that's cool and all but look man i'm just not selling idk how else to tell you man it's just i'm not selling hahahaha

Post by fwungy » Tue, Jun 20, 2023, 10:27 PM UTC

Retric wrote: post #207

fwungy wrote: post #179

Earlier quoted context omitted.

In many places Btc is one of the safest ways to store value. The scenarios it could collapse under are dark. It's biggest enemy is soveriegn currency issuers and banks. They would need to attack it such that holders lose faith in it en masse and collapse it. The successful attack they need to make is dystopian in nature. It would require a global digital identity that was attached to all internet access and an altern…

Nowhere is BTC the safest way to store value, it’s got far to many risks in normal use to be particularly safe. A double speed attack doesn’t need anything particularly dystopian to happen. It doesn’t even need to result in a large transaction just someone deciding to short BTC and briefly having the computing power to destroy it. Even just a creditable attempt that fails could completely undermine it.

Post by delecti » Tue, Jun 20, 2023, 10:33 PM UTC

ithinkso wrote: post #178

delecti wrote: post #112

Earlier quoted context omitted.

That's the "$5 wrench" argument rephrased. It's not much in its favor, but a sufficiently motivated person can resist handing over cryptocurrency better than they can any other asset.

Or they can bury the gold and refuse to tell where...