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re: Warren Buffett says he wouldn't pay $25 for all the bitcoin in the world
Posted on 5/1/22 at 12:24 pm to rickgrimes
Posted on 5/1/22 at 12:24 pm to rickgrimes
Bitcoin will go to zero - little doubt about that.
Fed will follow China soon.
Fed will follow China soon.
2
Posted on 5/1/22 at 12:26 pm to Deactived
quote:
Like someone said earlier, this lack of knowledge shows we are still in the early phases lol
When you watch companies like Tesla add billions of dollars of BTC to its balance sheet, CEOs like Michael Saylor committing to buying in perpetuity, and small nations committing to making it legal tender because the network and the scarcity of its token is so attractive, and you still question the adoption curve it’s probably just because people will see what they want to see and not what’s actually happening.
It’ll trade down right now because day traders with a lot of capital at their disposal correlate it with tech stocks, and they think we are in the midst of a recession and want to be risk off. There’s a pretty good chance the long term holders will win the battle over these traders long term. It really is just a case of zoom out and realize the network is winning more and more people over with its characteristics as time passes.
Someone needs to keep this meme updated over the next few years:
Posted on 5/1/22 at 12:42 pm to Ross
quote:
When you watch companies like Tesla add billions of dollars of BTC to its balance sheet, CEOs like Michael Saylor committing to buying in perpetuity, and small nations committing to making it legal tender because the network and the scarcity of its token is so attractive, and you still question the adoption curve it’s probably just because people will see what they want to see and not what’s actually happening.
its like a modern version of watching bartering system holdouts refuse to adopt banking. the early adopters will reap the benefits of being in the know and positioning themselves accordingly.
its truly wild to see swaths of people just ignoring the next societal/monetary movement that is crypto. I was more on that side 10 years ago tbh, but its rapidly become an apparent inevitability.
Posted on 5/1/22 at 12:49 pm to AMS
best you can do is understand how the network functions and tell people why there exists people that think this network provides value to humanity and why they want to participate on it.
if they disagree so be it, they aren’t hurting my feelings; but let it be a disagreement born of an honest discussion and not some severely misleading or misguided talking points they extracted from ten minutes on Reddit.
if they disagree so be it, they aren’t hurting my feelings; but let it be a disagreement born of an honest discussion and not some severely misleading or misguided talking points they extracted from ten minutes on Reddit.
Posted on 5/1/22 at 12:50 pm to KillTheGophers
quote:
Fed will follow China soon.
The government makes a ton of money from crypto tax revenue, especially since it's a major funding source for Biden's infrastructure plans. They aren't banning anything.
Posted on 5/1/22 at 12:50 pm to jamiegla1
crypto is stupid - how do I know this - bc the dumbest people I know are trying to make money trading it. It's going to crash - and soon.
Posted on 5/1/22 at 12:52 pm to cable
Elon Musk would certainly be considered amongst some of the dumbest people you know, I’m sure.
You know, just as long as we are playing the game where we judge the quality of an investment by a select sample of its investors.
You know, just as long as we are playing the game where we judge the quality of an investment by a select sample of its investors.
Posted on 5/1/22 at 12:55 pm to Ross
So this is acceptable?
Posted on 5/1/22 at 12:55 pm to Ross
quote:
“Is it wise to criticize people at all?” Buffett asked.
“Probably not, but I can’t help it,” Munger said.
Robinhood did not immediately respond to CNBC’s request for comment.
His business partner was ripping Robinhood this weekend
Posted on 5/1/22 at 12:55 pm to Ross
Didn't Musk say he was liquidating his Crypto - 
Crypto "investors" are the most defensive people on earth. Sorry you're money is in worthless shite.
Crypto "investors" are the most defensive people on earth. Sorry you're money is in worthless shite.
This post was edited on 5/1/22 at 12:57 pm
Posted on 5/1/22 at 12:57 pm to cable
As far as I’m aware he liquidated 10% of his holdings, which upon purchase amounted to $1.5 billion, as a test of the networks liquidity. This occurred many months ago and I don’t believe he liquidated more, unless I missed a news story.
On the contrary, I recall Musk implying SpaceX held BTC on its balance sheet as well, and he held some personally.
On the contrary, I recall Musk implying SpaceX held BTC on its balance sheet as well, and he held some personally.
Posted on 5/1/22 at 12:59 pm to cable
quote:
Crypto "investors" are the most defensive people on earth. Sorry you're money is in worthless shite.
I actually don’t care what you do with your money nor do I really care what your opinion of my investments are, to be completely honest with you friend.
Posted on 5/1/22 at 1:01 pm to rickgrimes
Because he is going all in on GameCoin. He knows that is the future.
Posted on 5/1/22 at 1:09 pm to cable
quote:
crypto is stupid - how do I know this - bc the dumbest people I know are trying to make money trading it.
Those people you know shouldn't be investing in crypto. That doesn't make it stupid. The technology is actually brilliant.
When I invest in a token, I'm investing in the technology and use case. If that grows, then the token value will also grow. The people who buy the token can use them as part of the project ecosystem (governance, asset purchases, etc). They could also hold them to speculate on a future price (like stocks). You said that crypto investors can only make money from other investors, but that isn't universally true. Yes the are scam projects with no utility, but there are some great projects out there with great use cases.
Posted on 5/1/22 at 1:21 pm to cable
quote:
Crypto "investors" are the most defensive people on earth.
With respect, you're very vocal about your dislike of crypto, but you've also shown that you don't know much about it, in addition to insulting people who invest in it. Of course we're going to respond to that.
Posted on 5/1/22 at 1:23 pm to Cymry Teigr
quote:
But that’s a fallacious argument. Nobody is going to pay you a full BTC for something unless it’s current value in US$ is the same as the value of a BTC
I get that, but he was implying that BTC has no value.
Posted on 5/1/22 at 1:27 pm to KillTheGophers
The good news is that Buffett and Munger will be dead soon, and won't have to worry about crypto.
Posted on 5/1/22 at 2:24 pm to LordSaintly
quote:
When I invest in a token, I'm investing in the technology and use case
Explain this to me like I’m 5 and you’re convincing me to invest in it
Posted on 5/1/22 at 2:29 pm to jamiegla1
quote:Exactly. I don’t understand crypto at all. How do you buy it? And how do you use it? If I want to buy a house, do I transfer them some crypto? Do I deposit it in my bank? Can I use it at the grocery store or other retail outlets? Everyone says it’s the wave of the future, but how do I use it in my everyday life? Can it be broken down. If I have one crypto coin worth a $1000 but I want a $10 steak at the meat market, how does that work?
Explain this to me like I’m 5 and you’re convincing me to invest in it
Posted on 5/1/22 at 2:41 pm to rickgrimes
If someone did own 100%, I don't think a lot of people would really want it anymore and use something different. So it has a lot more use when many people use it, adopt it and own it. In fact a lot of people use it, adopt it and use it.
The same argument could apply to the us dollar. If one person owned 100%, people would just use something else.
The same argument could apply to the us dollar. If one person owned 100%, people would just use something else.
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