To be fair, the amount of shitty takes in here is hilarious

Language we use is important, if you don't want this to happen, call it by its true name!

I recently had a friend give me the spiel about bitcoin and how it is the future of global currency. He sent me some interesting videos and according to the bitcoin enthusiasts it will be worth millions per coin in as little as 10 years.

I’m trying to do more research and look into arguments for both sides. I know there are some issues with volatility and scalability but a lot of really smart people still back bitcoin.

My question to you all here is, is there anything that would change your mind about bitcoin? If it continues to run up for the next 10 years and becomes more widely adopted would you still feel the same way about it? Would you invest? I’m curious on your thoughts.

I don’t understand this, enlighten me pls. Thank you all in advance.

I’ve been hearing it on this sub for some time now and last night I finally got the pitch in person: “you should really have 2-3% of your assets in Bitcoin — nothing you can’t lose”.

I think this is the new mantra to try to win back normies. The smarter buttbros know that crypto smells to high heaven to normal people, but also know that bitcoin’s boom is making the news and there’s sucker born every minute.

The new pitch to sober people seems to be “you can risk 2%”. And, of course, if everyone does that, why, the ponzi grows, doesn’t it? People get returns, crypto gains credibility, and soon people will be staking more and more into it.

So this seems to be this season’s crypto talking point: selling FOMO while encouraging you to take that first little taste.

What do you think? Does this strategy have legs?

My interaction with the guy trying to sell me on this was instructive. He was a really nice boomer in his seventies, a retired New York finance guy (so he says) who plays harmonica in open nights in bars. A nice guy. Fun to talk to. And about an hour into the conversation, he goes into his pitch:

“Y’know, crypto is what all the big financial organizations are gambling with now. They’re putting in 2-3% of their holdings. You really should, too. I made 35k on crypto these past months.”

Me: “Nah. I prefer more tangible assets with use value. If I had cash right now, I’d probably invest it in property and rent it to cover my own condo fees.”

Him: “Crypto is really going to boom! Do you know how many Americans own crypto? 89 million!”

Me: “Yeah, but how many of those wallets are active? I’d say more like 20 million.”

As I started to indicate that I knew quite a lot about crypto, actually, the guy began to back and fill, add in disclaimers, and in general soften his peddle.

Ultimately, I asked him the real big one: “Look, if crypto is such a sure thing, why invest only 2-3% in it? And if it’s a high risk gamble, why should I invest in it at all? I mean, if I am a bank playing risky games with other peoples’ money and I can cover a 2-3% loss, I guess it might make some kind of sense (but I’d hate to be their crypto dude when it all falls down), but for a low value customer like me? Why risk that 3% at all?”

We get to talking more and it turns out his 35,000 score came from a million dollars he was playing around with. Now, that’s still impressive, but it’s a whole different story from what he was telling me in the beginning, where his crypto investments magically multiplied his cash by a factor of 30 or so.

Meanwhile, I parked my 20,000 USD in liquid savings in a certificate in a bank that’s making 7.5% interest this year. If I’d had the million in there, that would have been 75,000. Now, granted, that’s in a year and not in three months, so kudos to him, I guess? But in the meantime, I had a life. I didn’t have to twitch every time bitcoin came into the news. I taught class, wrote articles, went on a long vacation, found time to hang out with my dying aunt and my parents, mentored students… In short, I just put my money into bank investments and went on with my life. And the beauty of it all? It was risk free, barring societal collapse.

By the end of the night, the guy was absolutely wrecked on booze and edibles and off carting him very expensive amp and harmonica kit on foot through the D.C. streets at 2AM. I mean, I gotta admire the guy’s balls, but he didn’t exactly come off as a sober investor, y’know?

So, anyhoo… Again, I have been hearing this 2-3% pitch everywhere lately, including on this sub. What do you all think about this newest strategy for the memetic hyping of bitcoin?

(Btw: dude actually name-dropped Elon and DOGE and said Trump was about to make a crypto America before he discovered that I actually knew what he was talking about.)

https://x.com/tier10k/status/1879848376205807718?s=46&t=S8WW3eNzTzR1mUBhLMYMwg

Bitcoiners in absolute shambles.

Has anyone here done serious study on bitcoin? Like read books and watched documentaries to see what the movement is really about? Or you just wanna whine?

Just wondering.

Walked over to the main branch of State U library today and ran into B, a student I haven't seen in about 10 years.

B has just completed his master's in accounting, is about to start a job with the IRS, and as part of catching up, he mentioned he was interested in the potential of blockchain's immutable ledger function and its potential for accounting

It was good to point him to what happened with Walmart and Maersk when it came to using Hyperledger to do inventory control. It gave great transparency, chain of custody, etc ... except for where it didn't scale economically, to the point where it was going to become even too expensive for them to use, and they've been forced to switch to different inventory control systems.

I mean, I get it. As a person who's job is going to involve trying to stop people from cooking their books, immutable ledgers make creative accounting much harder. But as cool and interesting as the math behind blockchain is ... it just doesn't scale in a non-resource intensive way.

Somewhat of a strange post but would love to see examples of delusional crypto-bros, either still actively pushing web3 or NFTs or somehow convinced Terra-Luna is gonna bounce back.

It's not much but here are my offerings for the day:

- Pushing NFTs with the following magical quotes (not verbatim) : https://www.youtube.com/watch?v=a4BB7cvJ6Cw

"I'm bullish because if you look at the discord they are still active, well they were active a few weeks ago so still quite active"

They used to post daily, it has been about three weeks but I'm sure they'll be back soon, they're just struggling to find the cigarettes.

"It cost $357 so if you don't mind losing 0.1 ether - I have 4 because I think that they could appreciate if NFTs come back because right now it's very boring, we're in a crypto stagnation."

It would be good it they came back ergo they are coming back. Makes total sense.

"I'm really bullish because they are actually posting on tiktok and instagram, as you can see they're posting short cartoons, they have 400k followers, which is insane. That's basically how you onboard the web2 crowd into NFTs."

I used to think that NFTs were a steaming pile of shit but then I saw a meme and instantly changed my mind. Also a great time to point out that it seems the account he's looking at and the NFT collection he's talking about have absolutely no link aside from both showing monkeys and their names starting with "chimp".

My current fave :

It's not about the pfp's, it's about alpha groups, secret groups, however you want to call them.

Yeah, definitely not a cult

And a classic:
- Using tarot to predict crypto prices : https://www.youtube.com/watch?v=SZvC3_2nOfs

TLDR; BITCOIN AND ITS TIMING

Hey guys! Its your crypto advisor here! It's ok to cry, we always wish we had a chance to buy Bitcoin at a certain time so we've could get more profit from it but let me tell you, you are not alone! Every day millions of people regret not buying Bitcoin or mocking it when it was cheaper than today, some say publicly they regret it and some other rather say its still a scam, my dad himself could be a millionaire today if he bought bitcoin for $40 a unit in 2013 he said to me, let's all improve that together! Learn and Buy Bitcoin or bitterly regret not doing so!

The next couple years will be an unprecedented smash and grab, and no personally enriching measure will be to grotesque for the Dollar Tree Nazis. From where I’m sitting, it looks like Flood and the gang can get this done.

This is a tough time for buttcoiners. The grift is ascendant. Y’all are getting so strung out and zealous that you’re almost as useless as the other side of the buttcoin, but maybe somebody can speak soberly on this topic?

Title. Would be useful for sending on other platforms. Currently they exist on Wordpress and a dead Reddit wiki which aren’t raw markdown or are old.

It was 91k and treading downward but its back up to 96k today. I've heard from this forum 90% of crypto transactions are automated and not actual traders. Wouldn't that be risky to artificially inflate the price if others are looking to cash out?

I feel sorry for the people on this sub.

Italian banks run by crypto fans. Not a good sign for Italian and European economy.