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Our Thoughts on Bitcoin

bridgewater.com

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Re: Our Thoughts on Bitcoin

#111

Post by solosoyokaze »

christiansakai wrote: post #102
solosoyokaze wrote: post #86

Earlier quoted context omitted.

How would you recommend acquiring Cardano? Is there an exchange you can buy it on?

You can just get it in majority of exchanges. In case your exchange doesn't support it (like me, Coinbase and Gemini, NYC, don't support Cardano), just use swapping service like changenow.io, so buy ETH from Coinbase and use changenow.io to swap it to ADA I've been using changenow.io and it always works. As always, don't send in really large transaction, but one by one, maybe like 3000 ADA each time (this is what I d…

Thank you, this is great information.

Re: Our Thoughts on Bitcoin

#112

Post by christiansakai »

solosoyokaze wrote: post #111
christiansakai wrote: post #102

Earlier quoted context omitted.

You can just get it in majority of exchanges. In case your exchange doesn't support it (like me, Coinbase and Gemini, NYC, don't support Cardano), just use swapping service like changenow.io, so buy ETH from Coinbase and use changenow.io to swap it to ADA I've been using changenow.io and it always works. As always, don't send in really large transaction, but one by one, maybe like 3000 ADA each time (this is what I d…

Thank you, this is great information.

You're welcome, pass it on. I got it also from someone else when I wondering how I could buy ADA.

Re: Our Thoughts on Bitcoin

#113

Post by sebastien_b »

solosoyokaze wrote: post #107
sebastien_b wrote: post #99

Earlier quoted context omitted.

So why not simply say "Bitcoin skeptics" instead? I had never heard of Bridgewater; I had no opinion about them either way. Was more than willing to read up on their "thoughts on Bitcoin". But immediately going down that hole with such a characterization will not encourage me to engage or evaluate their thoughts objectively. Had they used 'skeptics' I certainly would have kept reading (though I suspect there's probab…

Because "Bitcoin skeptics" isn't funny or entertaining writing? I'm sure the author knows what tone works for their audience. Not everyone wants the completely antiseptic take.

Fair enough - I'm obviously not part the intended audience, and based on the comments here, he sounds a bit like a Jim Cramer type, so I can see why that might be 'his style'.

Re: Our Thoughts on Bitcoin

#114

Post by [deleted] »

vmception wrote: post #51
ra88it wrote: post #15

I'm surprised that the energy usage axis does not come up in this summary of his thoughts. Isn't that likely to be a factor in bitcoin's growth and long-term survival?

no? if there was some successful state-sponsored or populist uprising against bitcoin’s energy then the energy use will decrease and bitcoin will continue functioning as normal it just incentivizes more efficient hardware or lower yield for miners the network can decrease in difficulty or have steady difficulty forever the value that the network can support is still several orders of magnitude higher, and there are a…

[deleted]

Re: Our Thoughts on Bitcoin

#115

Post by akyu »

ra88it wrote: post #15

I'm surprised that the energy usage axis does not come up in this summary of his thoughts. Isn't that likely to be a factor in bitcoin's growth and long-term survival?

It will be a huge factor. If you want to know why, look into ESG mandates.

Re: Our Thoughts on Bitcoin

#116

Post by MrPatan »

lottin wrote: post #8
PragmaticPulp wrote: post #2

The section about the fallacy of limited cryptocurrency supply is one of the key insights missing from many Bitcoin discussions: > For those reasons the “limited supply” argument isn’t as true as it might appear—e.g., if Blackberries were in limited supply they still wouldn’t be worth much because they were replaced by competitors that were more advanced. I agree that Bitcoin is interesting as an alternative asset, b…

Bitcoin is an asset in the same way that a piece of paper with my signature on it is an asset. Why some people think cryptocurrencies are revolutionary is beyond my comprehension.

You're absolutely right, it is.

Re: Our Thoughts on Bitcoin

#117

Post by hanniabu »

greg7gkb wrote: post #90
hanniabu wrote: post #45

Earlier quoted context omitted.

I love how people will always find a reason to remain cognitively dissonant. At first it was just people doing illicit activity, then it was only a tulip bubble, then it's just that retail investors are playing the greater fool. Not that there's financial professionals advocating for it you say that they just want your business. At what point do you consider you may be wrong? What will you say when banks start holdin…

This isn't a case of who's right or wrong. The success of Bitcoin is entirely based on belief, which doesn't have a right or wrong answer, particularly this early in its history. Bitcoin is successful if enough people agree to believe that it is valuable. And that's the period we're still in now: trying to determine if this thing is valuable and by how much (hence the price volatility).

I mean, that's a poor man's excuse because you can say that about anything. USD is only worth something because enough people believe it is, same with gold, same about anything worth value.

Re: Our Thoughts on Bitcoin

#118

Post by dang »

anthonygd wrote: post #106
dang wrote: post #98

Earlier quoted context omitted.

" Please don't post shallow dismissals, especially of other people's work. A good critical comment teaches us something. " https://news.ycombinator.com/newsguidelines.html

It's tough when so many shallow dismissive articles show up.

Yes it is. Part of the art of becoming a good contributor is learning to select what one can respond meaningfully to, and to leave what merely provokes a pre-existing reaction. We're all working on learning that.

Re: Our Thoughts on Bitcoin

#119

Post by leereeves »

vmception wrote: post #94
seaman1921 wrote: post #72

Earlier quoted context omitted.

you can't support saying it would encourage people to develop ways to prevent it

you say that but that’s how electronics work you are limiting one variable: power consumption, and people will have to work around that tighter than they already do

If there's an uprising about Bitcoin's energy usage in the USA (just for example), neither the US gov nor people will be able to force miners in, say, China to use less energy.

But that might provide a good excuse for the government to regulate Bitcoin in whatever way they choose.

Re: Our Thoughts on Bitcoin

#120

Post by kukabynd »

leshow wrote: post #87
teryyy wrote: post #77

Earlier quoted context omitted.

It's more focused on the merits of Bitcoin as it relates to being a financial asset class, and not on the merits of Bitcoin as a system.

That seems pretty short sighted

It’s a piece from a hedge fund. What can we expect?
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