DeacMan
Well-known member
- Joined
- Mar 20, 2011
- Messages
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What do you mean what does it mean? Again, how can someone with your views not allocate some of their investment capital to BTC? Seems like a complete no brainer.
This also surprises me. Not saying anyone should be way deep in it. But given the events that caused BTC to be created in the first place, seems like a no brainer for so many people here to have an allocation.I don’t have any money in crypto.
What do you mean what does it mean? Again, how can someone with your views not allocate some of their investment capital to BTC? Seems like a complete no brainer.
What do you mean what does it mean? Again, how can someone with your views not allocate some of their investment capital to BTC? Seems like a complete no brainer.
In what regard is BTC a pyramid scheme? Elaborate. It doesn't compensate anyone. No one even runs it.I think he is a true believer in the bullshit BTC is selling so if you were to you would embrace the power of decentralization blah blah blah but everyone else here knows it’s a shitty pyramid scheme hence the confusion.
Was at a convention in Chicago recently. A company held a dinner at a basement restaurant in River North. I have never in my life seen so many bourbon's in one place. Almost 500 brands. Were told the total inventory in the bar was three million dollars. It was insane.Personally I’m still waiting for baseball cards to come back and to a lesser extent Pure Poison POGS but I think the delta in my bourbon collection more than makes up for those slower growth asset classes.
Whoever is running tether runs pretty much the entire crypto ecosystem. And all the guys who run Tether are the guys who ran online poker two decades ago when online poker had people who could see everyone's whole cards and were ripping them off. They largely created bitcoin to get around the US banning banks from transacting with online poker sites.In what regard is BTC a pyramid scheme? Elaborate. It doesn't compensate anyone. No one even runs it.
I'm not a true believer in it vs. I am any other asset class. It's just part of a diversified portfolio IMO. Nothing more.
As for folks like Ph, I really do not understand how someone who feels so strongly about how awful the traditional financial system is would look at BTC and say "of course not".
I did not suggest any and every alternative must look good to Ph or anyone else. Not sure how you compare BTC to a beanie baby or a lottery ticket. All investments come with risk.
Why would you not allocate some of your capital to an investment that has delivered an asymmetric return since its inception 15 years ago? And I'm not suggesting you'd have no legit reason not to do so.
On the grounds you think it is a scam? OK. How is it a scam? Explain.
On the grounds you think it is too speculative? OK. That is acceptable given you may have zero tolerance for volatility in any portion of your portfolio or have super low risk tolerance.
Whoever is running tether runs pretty much the entire crypto ecosystem. And all the guys who run Tether are the guys who ran online poker two decades ago when online poker had people who could see everyone's whole cards and were ripping them off. They largely created bitcoin to get around the US banning banks from transacting with online poker sites.
Being diversified into fraud generally doesn't help, although plenty of people do happen to make money in frauds.
I never sad I have zero bias for bitcoin. I already said I hold some as a small part of my overall portfolio. And I've explained why. What I'm asking is how folks who think the entire financial system is rigged would not find BTC appealing as a part of their own portfolio. And so far the only answer I've received is BTC is scam. Again, how is BTC, itself, a scam? How it works is clearly defined and it isn't changeable. That seems to me like something that would be appealing for an allocation to those who think everything else is rigged.for someone with zero bias for bitcoin as an investment you have presented some very generous characterizations of folks who do not view it as such.
Tether makes the price of BTC a scam, as BTC goes brrr when tether folks print tethers out of thin air.Tether does not make BTC a scam. But yes, I agree crypto as a whole would very much benefit from stable coin regulation like New York has put in place for USDC and Europe is now putting in place more broadly. No argument there.
Tether is/has been subjected to audits. But my fundamental issue with Tether is that the one for one dollar backing is tied in some significant part to commercial paper, which obviously is more risky than USDC's approach. Still arguably better than the fractional reserve system we have for banking and the entire Eurodollar regime globally. But yes, it is a risk (and a concentrated one).Tether makes the price of BTC a scam, as BTC goes brrr when tether folks print tethers out of thin air.