This so called "bullrun" or "ATH" does not attract much attention, normal people got bored by crypto since the FTX shitshow.

I’d have better success selling ice to an Eskimo or unloading Aerotyne Dynamics to schmucks over cold calls. And I don’t even expect 1% of people to pick up calls from an unknown number in 2024.

LMAO https://microsoft.gcs-web.com/static-files/412cc216-34d8-411e-bd96-71d59e4312c0

If there is anything I have learned in life, is that it is very difficult to convince someone by arguments alone. The more you push for it, the more the other person will end up convinced of their own logic. Doing otherwise means admitting that there is a fault to their thinking or worse, their intelligence. This is a very basic human psychology fact.

Now, combine that with Bitcoin and here is what I see: People need a way to justify why they are going to become rich. Then, they look for reinforcing arguments to the idea that Bitcoin is the future. When you come and say that Bitcoin is a Ponzi scam, that means that they are either the scammers or worse, the scammed. There is no way on earth they are going to accept this. I have seen some crazy psychos who openly admit to participate as the scammers, believing that they can buy and sell quick enough to let the other people holding the bag. But most people will not swallow this pill. The only way to psychologically protect yourself from this insult is to seek confirmation from the group, which explains why Bitcoin has become today like a cult. When there are no logical arguments for something, the only thing that remains is faith.

Why is no one discussing this video and topic Especially in a bitcoin sub which has 7.4 Million people it seems particular that no one has said anything or mention in the subreddit. I saw someone else who ask about the interview and it soon disappeared. I'm not a bitcoiner, it was a bit of a test post haha What are your thoughts? I'm really interested in people's insight into this.

At first I was curious about the possibility of bitcoin particularly as I understand it can function as a store of value but I was skeptical due to lack of understanding and the practicalities but the more I see I think it shows too much speculation. Plus the entire community appears hugely culty from an objective view.

After watching a documentary on the GameStop and the other cult that came from that. It seems like there are a few too many similarities in the way the communities behave. Idk

What would you rather have till the rest of your life, but you cannot sell it or exchange it:

Lambo or 1 bitcoin?

I can show off with lambo, with bitcoin I can't do nothing. So I guess Lambo it is. Lets go step further.

What would you rather have:

1 wooden toothpick or 20mio Bitcoins?

What can I do with 20mio Bitcoins? Nothing. On the other hand, a toothpick solves one of my problems. While price of Bitcoin can be anything, the intrinsic value is below the value of 1 wooden toothpick. Cryptomania will just be next chapter in the book Extraordinary Popular Delusions and the Madness of Crowds.

Hey I'm mostly anti-crypto and there is a lot of proof of scams and rugpulls with "altcoins" etc.

Bitcoin however seems different.

It was created with good intentions. Longest trackrecord of all cryptos. The creator hasn't rugpulled since creation. It has plenty of advantages over other assets.

I'm thinking of investing, change my mind.

I honestly don’t see bitcoin ever going to zero. What I believe to be the most likely scenario is it will simply become range bound. The crypto bros will keep buying it, and the miners will keep selling it. Remember CSCO? Massive gains and then 20 years flat (although they do pay a dividend to be fair). Same with TSLA, massive gains then sideways for years. So yeah maybe the crypto bros are right, maybe it won’t lose its value, but that doesn’t mean it will keep growing forever. Just looking at bitcoin’s price history already shows a slowing in price increase over time.

Is there anything that can be done to prevent quantum computers from cracking bitcoin seed phrases? I don’t think so, but please challenge me

You guys are hilarious - imagine dedicating your online lives to hating something that just keeps proving you wrong, month after month, year after year. Decade after decade. I’m here for the lols. I occasionally pop in to see how you guys are doing. To be fair I love you all, really. You are all wonderful. Don’t ever change.

Society cant really function with a HODL only base currency, if holding generates more gains or even safety than investing then society ceases to grow,

The reason inflation makes the world go round is because it incentivises the rich to put their money to work, if they let the money sit in an account it bleeds its value via inflation, in order to protect it they invest it, which makes the economy grow and fuel itself, the best places to live in the world are fuelled by inflation.

if you invest in property, then new property needs to be built, old property gains value for the current owners etc etc, allowing for more and more monetary acceleration and more jobs and places to rent.

if you invest in businesses, you are fuelling the economy, more jobs, more pay, more products, more competition, better prices, more buyers etc etc

bitcoin sort of breaks this, you are punished for selling, especially in a bull market, or basically selling at any time in its history, this incentivises the rich to just HODL the flow of wealth and chokes society, the only reason that it has no impact now is because its so small when compared to other stores of wealth

thats why i think it can never be big, or replace anything substantial as a foundational currency for a country/society.

I think its second weakness is that it has no intrinsic value, yes it is proof of mined work done, but its sort of a bizarre form of proof, its like you went fishing to get fish to barter and every time you caught a fish, you took a photo and then threw the fish back, then tried to use the photo as your intrinsic value to trade with.

I know that as long as there are buyers then it has life, but thats the same for anything, by that standard, funkopops (or whatever they are called) are a form of currency, but even better than bitcoin they have an intrinsic value of being something you can decorate with.

over time i think these 2 main reasons will be bitcoins biggest hurdles, and for now thats why i cant see any large investment % of someone's portfolio making sense as opposed to just buying property etc that has a great growth rate, can be rented out, and actually is something tangible.

Not sure how pro-bitcoin this sub is, but I wanted some feedback without risking my account :)

I'm thinking about the best case scenario for bitcoin.

Say market saturation gets to a point where that daily price fluctuations are less than one percent.

Now there's a stable market you can cash in and out of.

With that stable market, you can actually use this thing like currency. Fantastic!

OK now what, the coin is still tied to the US dollar as an it's underlying value.

Pricing for good and services will be based off market conversion amounts.

So what's the difference between buying something in bitcoin or USD at that point? If you buy something in bitcoin based off what the dollar value is, it's the same thing as buying in dollars. What's the incentive of using bitcoin? Vendors will still have to report sales tax, maybe you can avoid taxes person to person? I don't know.

Now say that stable bitcoin market decreases in value because of a recession. Now you need more bitcoin to buy the same stuff, isn't that just like inflation? Also, with bitcoin value being determined by the market (in US dollar conversion), won't traditional inflation pressures affect the bitcoin market too?

Anyone care to share their two cents?

Imagine trying to invent something to better humanity and it fails yet the butters cult pumps complete shit like this. This is worse than the dotcom bubble and the pop will be even more glorious.

What a mess this has become. For years, I thought this subreddit was on the wrong side of history, but in a matter of just a couple of weeks I've done a total 180. I used to think, "how many times do these guys need to be proven wrong?"

At some point, I recognized that the question itself is suspect. How many times? Wait a minute, is this thing revolutionary or not? Then the realization sets in that nobody here has been proven wrong about anything and literally the only pro-crypto argument that held any water was "yeah, but price go up."

I've seen it countless times on this subreddit and others. Someone makes a valid point, and someone else replies "yeah but did you know price go up?" like a drooling idiot.

My "conversion" all started with James Jani's "Crypto - The World's Biggest Scam." Ironically, this video contained no new information to me. Yet somehow, it pulled that information out of this "excuses" zone of my brain and into reality. Part of it is just the fact that the guy clearly knows what he is talking about, but still hates crypto. That in itself was eye-opening to me.

The fact of the matter is, it will all collapse. Nobody knows when or what its true all-time-high will be. However, bitcoin will enter a death spiral as fees become too outrageous for most to even think about moving their coins, and the price dropping like a rock for those who can.

Apologies for the stream of consciousness. It's weird to realize you were sucked into a cult of sorts.

I could have sworn that never in my life would it breach 100k, because the tech is useless, because the pyramid scheme would eventually collapse on itself, never would I have thought that major league scammers such as Trump and musk would pump the scam in such a way, not even at its height and most hype did it reach these levels.

But I realized that... I don't care anymore. Because the general population already knows it's a scam and the only people pouring any real money into it are criminals and money laundering. Random Joe thinking his $100 will make him a millionaire don't really matter, which is 90% of crypto enthusiasts.

I'm just done with this, welcome to today's new herbalife, and just like herbalife and casinos, this is unfortunately here to stay. I just hope people keep resisting it.

Also the crypto bros hyping every single year that "this is the year it finally goes to 100k" are all full of shit, which sums up the entire crypto sphere.

Either he was a very quick learner or bitcoin was invented for that one purpose?

Unlike Bitcoin, the iPhone actually had a real use case (it can be used as a phone). Not to mention Microsoft likely saw the iPhone as competition, so why would they have anything good to say about it?

Tether (USDT) operates similarly to fractional reserve banking, but in the world of cryptocurrency. Instead of only issuing USDT in exchange for real USD deposits, Tether uses a recycling process with corporate debt (bonds) to multiply the money supply, creating more USDT than the initial deposit.

The Process: Turning $1,000 into $10,000 in USDT

Here’s how it works, spelled out over two rounds of USDT creation:

Round 1:

1. Initial Deposit: Let’s say MicroStrategy (MS) deposits $1,000 in cash into Tether. In return, MS receives 1,000 USDT from Tether.
2. MS Issues New Corporate Bonds: MicroStrategy creates new corporate bonds worth $1,000 — essentially printing new debt. Tether purchases these bonds from MS using the $1,000 in cash it initially received.
3. MS Exchanges the Cash for More USDT: Now, MicroStrategy takes the $1,000 in cash (received from the sale of the bonds) and exchanges it for another 1,000 USDT from Tether.

Round 2:

1. MS Issues More Bonds: MicroStrategy creates even more bonds, issuing another $1,000 worth of corporate debt.
2. Tether Buys the New Bonds: Tether purchases these newly created bonds from MicroStrategy using the $1,000 in cash it received in Step 3.
3. MS Exchanges the Cash for More USDT: Finally, MicroStrategy takes the $1,000 in cash (received from selling the bonds) and exchanges it for another 1,000 USDT from Tether.

The 10x Multiplier Effect

Because MS can create new bonds (debt) and Tether buys them in exchange for more USDT, the amount of USDT in circulation multiplies with each round. So, from the initial $1,000 in cash, the amount of USDT in circulation could eventually grow to $10,000 or more, as Tether continues to print new USDT based on each new issuance of bonds.

Why This Makes the Market Easily Manipulable

This process of inflating the money supply is why Tether is so influential and why the crypto market is easily manipulated. By increasing the amount of USDT in circulation, Tether can inject liquidity into the market, pushing cryptocurrency prices up. Conversely, by reducing the amount of USDT, it can remove liquidity, causing prices to fall. This manipulation of the money supply can create wild price swings, as traders and market makers adjust their strategies to the changing liquidity.

This is similar to how central banks use monetary policy to create inflation or deflation in the economy. However, because Tether operates with far less transparency and less regulation, it creates greater opportunities for manipulation in the crypto market.

Conclusion

In conclusion, Tether functions much like a fractional reserve bank, but instead of issuing USDT only for cash deposits, it uses a recycling process with newly created corporate bonds. This allows Tether to multiply the amount of USDT in circulation — creating a multiplier effect that increases the money supply. This process creates liquidity inflation in the crypto market, enabling price manipulation and volatility, and is a significant reason why the crypto market is so susceptible to manipulation.

Premise 1: Technically, only a limited amount of Buttcoins can be mined, ever.

Premise 2: Technically, (access to) Buttcoins can be lost forever. That (access to) Buttcoins is lost does happen.

Result: Over time, (access to) all Buttcoins will be lost. There will be a time where no new Buttcoin can be mined and (access to) all existing Buttcoin is lost.

How can anyone think this to be a sustainable system for any of the alleged use cases?