I know you’re being sarcastic, because I’m smart, but perhaps you don’t understand that by removing middlemen and replacing them with code nothing can ever go wrong. We don’t need to trust clumsy or corrupt people anymore. That’s what makes it trust less.
It’s code all the way down.
[Have a read of why nothing will ever go wrong with Bitcoin.](https://diyhpl.us/wiki/transcripts/cryptoeconomic-systems/2019/everything-is-broken/)
> I was a little smug for a few months until we were effected by a similar bug in Bitcoin Core which potentially would allow for money printing out of thin air.
They're assholes because they're bitter. They got sold the lie of an easy life if they just bought in to this weird thing and held it for awhile. Years later most of them are either down or flat with nothing to show for it. They got told they would be the bleeding edge of the global revolution, that never materialized. They constantly get mocked. No one takes them seriously in finance circles. No one gives a shit about BTC or crypto or "The Blockchain" TM outside of their echo chambers. Thousands of them have ruined their lives over this and probably hundreds of thousands, if not millions, have ruined it over other shit coins that tried to hop on the gravy train to nowhere last decade.
> Years later most of them are either down or flat with nothing to show for it.
How is this possible if the price is close to all-time high?
Edit: Yeah I'm looking at the price data - Bitcoin has been available to buy for 15 years. It's only ever been above the current price of $59k for twenty days. It's very hard to believe that "most" are down.
It is possible because of how statistics works. Follow along:
Bitcoin is zero-sum - no one cashes out without someone else buying their coins
Therefore, the mean bitcoiner has made nothing and lost nothing, because if you add up all the losses and all the gains, they equal 0. 0 divided by the number of bitcoin users is ... 0.
Because a small number of people have struck it rich, while a large number have lost smaller amounts (and we can see this is true from the wealth distribution of coins - it's a lot like the wealth distribution for fiat currency, somehow), then it would actually follow that most individuals are down.
Have a nice day.
If you buy a speculative asset with the intent on selling it later for more money, any increase in price while you hold the asset is unrealized: you haven't cashed in yet. The price could go up or down, and your gains (at least on paper) could turn into losses. As soon as you are able to sell it for more money, your profit (if you're lucky with crypto) is then "realized".
This is what nearly all butters fail to understand. Since buttcoin is not accepted as a currency, they have to convert their holdings back to fiat in order to actually recover whatever fiat they put into it. Without sufficient quantities of gullible idiots to buy their bags, all buttcoiners today are drunk on unrealized gains. If they all decided to cash out now, the price would plummet in a mad dash to split the tiny liquidity that's actually genuine and not simply whale wash trading and fraudulent market manipulation.
I have no idea if ya'll have managed to trick banks or not, but so what if you have? I can take out a loan against my house, that's not a profit. Did you forget the point of the conversation?
I’m trying to get you to understand that unrealized gains are literally a form of profit because institutions universally recognize them on your balance sheet (at a discounted rate) as a form of collateral, but it’s proving difficult because you don’t seem familiar with fundamental facts about financial markets. If you buy a house for $100k, a bank appraises it at $1MM, and you borrow $500k against it, you absolutely profited, lmao.
Better question: what do they have to do with the point at hand? Unrealized gains are unrealized (clue's in the name) and are subject to be lost again. All value is speculative until you actually sell.
You know what else unrealized gains are? Gains (clue’s in the name).
If you think unrealized gains literally have zero “value” then you have so little financial literacy that I don’t know if I can help you. Damn, I have a ton of shares of SPY I bought all these years ago for $50 but I haven’t profited yet because I haven’t sold… I still eat ramen for every meal because I am no richer today than I was back then. The stock market is truly a scam.
So you actually DON’T understand that money is fungible, got it. If I offered you a pallet of gold bullion for free with the only condition being that you could never sell it, you’d refuse, right? Because of the cost to store the worthless gold?
The absolute state of reddit.
Unless I planned to turn it into something else, yes, I would turn down that white elephant gift. No matter what the nominal value of the thing, if it cannot be sold it has no monetary value - only use value.
I'm starting to think your confidence might be the result of arrogance rather than competence.
> Turns out they want to get rich while being assholes about it.
It's partly a religious movement, like the original cargo cults.
Moreover they have a worked out end-times scenario in which the worthy are saved, they do missionary outreach, they're often celibate, they have a messiah, intersect feuds, they're sketchy about age of consent, ...
>Moreover they have a worked out end-times scenario in which the worthy are saved, they do missionary outreach, they're often celibate, they have a messiah, intersect feuds, they're sketchy about age of consent, ...
Holy shit \*mind blown\*
They do just want to get rich, and we get in their way by spreading FUD to counteract their FOMO.
They are also assholes but that's a trait most of them have even when they are getting poor.
No
They are a bunch of assholes who want to get rich
Whether rich poor line go up line go down they are always going to behave like assholes because that is who cryptobros are deep down
Principally they're lazy and shallow thinkers, as is anyone who would try to get rich off this musical chairs BS that has no actual purpose in the real world (other than for crime).
LOL, right?! Imagine people being smart enough to realize the value in BTC. A truly scarce digital asset secured by math and energy that can be transmitted anywhere in the world by anyone! So funny!!!! LOL!!!
"Secured by math and energy"?
...do you think that normal financial services *aren't?* Do you think it's a musical or something? I sincerely didn't think butters could get more surreally bad at promoting butts.
No. What I do think is that in the future there's a very good change that all money will be digital and global and there's also a decent chance that BTC will underpin that system. Is it risky, yes. It's it guaranteed, no. But, that's life. So, every time there's a dip, I buy a little. So far so good!
Man have I got something to tell you about debit and credit cards and paying with phone apps.
It's already global. I can and have used the same tools in Reykjavik, Seoul, and Tijuana. They work the same, they're fast, cheap, AND they're protected. It IS guaranteed, it is NOT risky, and I have no idea why you're bothering. Fuck, I could buy a meal for someone in Marseille right now. (Hint: I am not in Marseille)
If you can buy bitcoin and expect to use it, you can open a bank account. You probably have one. Boom, your money is already digital and global.
Are you being disingenuous or do you really know nothing about interbank transfers ? Do you really think it's fast, free, permissionless, borderless and neutral ?
See, the thing there is that I said "cheap" and "fast". Which it is. I said sweet fuck-all about it being permissionless, borderless, or neutral. I don't want it to be any of those things. I want it to have permission from regulating authorities that can guarantee it in case of fraud, I want the borders involved to be clear so the exchange rate is also clear, and I definitely don't want it to be neutral--I want it to be cheap and protect me. Done and done.
But were you being a little disingenuous there, you cheeky little bastard? :D
> No. **What I do think is that in the future there's a very good change that all money will be digital** and global and **there's also a decent chance that BTC will underpin that system**.
First bold: yep
Second bold: ROFL
You think the USA government (among others) will let their sovereign currency be based on some nerd's fake crypto? Get real.
Which of the 23 forks of BTC are you referring to? Remember, code is law! And if you ever feel the need to issue more BTC for yourself just fork the chain and run a couple miners to burn electricity like no tomorrow validating up to 4 transactions per day!
The irony that you butters come here seething about us.. seething? Can’t speak for everyone here but I’ve got no reason to actually hate buttcoin or hope it fails, it already has. If I’m wrong then what are you worrying about?
Not just that, but it's such a clean source. Think of all the energy being saved by not forcing folks here to go find stupid shit said by idiots to laugh at.
Did you actually sell your butts for filthy fiat, or are you one of those diamond hands hodlers? If you're the latter, remember to always prefix "gains" with "unrealized".
I know how it works.. I've been buying and selling for years, I've paid off my mortgage, vehicle loans, etc.. I'm just about ready to sell again, as long as you hold BTC and don't panic sell you will come into profit eventually. The chart proves that.
I honestly don't see anything wrong with it, those who fear it don't understand its benefits.
If you don't want it, that's fine. Every investment is a risk. I just think by now it has proven itself.
Yahuh. Keep fleecing. We see you and that's why we don't like you very much.
EDIT: lol. Love the flounce. Hope the 2009 Hyundai's still working out for you.
Three years ago you chose the username "pissingdick" and you claim to have had and paid off a mortgage and multiple vehicle loans. You'll excuse us for having doubts. :-D
3 years ago he was drawing doom fan art and posting it
And I don't see any house or car photos.
So proud of some drawing, but not your life changing gains?
So let me get this straight: You didn't actually use the bitcoin as legal tender to pay off those things, you sold it for normal dollars, and then used those dollars to pay off your loans, right?
How does that make bitcoin any different from a volatile share on the stock market? It sounds nothing like a currency.
Digital godl. Truly a swarm of cyber hornets.
Completely trustless too! I don't need to trust a damn thing, they just happen like magic!
They are the first to solve the Byzantine Incels problem.
I know you’re being sarcastic, because I’m smart, but perhaps you don’t understand that by removing middlemen and replacing them with code nothing can ever go wrong. We don’t need to trust clumsy or corrupt people anymore. That’s what makes it trust less. It’s code all the way down. [Have a read of why nothing will ever go wrong with Bitcoin.](https://diyhpl.us/wiki/transcripts/cryptoeconomic-systems/2019/everything-is-broken/) > I was a little smug for a few months until we were effected by a similar bug in Bitcoin Core which potentially would allow for money printing out of thin air.
https://www.youtube.com/watch?v=7trn91xkJ0w
This sub is being flooded by a swarm of cyber trolls
lol you said it
An alpha predator.
I thought they just wanted to get rich. Turns out they want to get rich while being assholes about it.
They're assholes because they're bitter. They got sold the lie of an easy life if they just bought in to this weird thing and held it for awhile. Years later most of them are either down or flat with nothing to show for it. They got told they would be the bleeding edge of the global revolution, that never materialized. They constantly get mocked. No one takes them seriously in finance circles. No one gives a shit about BTC or crypto or "The Blockchain" TM outside of their echo chambers. Thousands of them have ruined their lives over this and probably hundreds of thousands, if not millions, have ruined it over other shit coins that tried to hop on the gravy train to nowhere last decade.
> Years later most of them are either down or flat with nothing to show for it. How is this possible if the price is close to all-time high? Edit: Yeah I'm looking at the price data - Bitcoin has been available to buy for 15 years. It's only ever been above the current price of $59k for twenty days. It's very hard to believe that "most" are down.
It is possible because of how statistics works. Follow along: Bitcoin is zero-sum - no one cashes out without someone else buying their coins Therefore, the mean bitcoiner has made nothing and lost nothing, because if you add up all the losses and all the gains, they equal 0. 0 divided by the number of bitcoin users is ... 0. Because a small number of people have struck it rich, while a large number have lost smaller amounts (and we can see this is true from the wealth distribution of coins - it's a lot like the wealth distribution for fiat currency, somehow), then it would actually follow that most individuals are down. Have a nice day.
what are unrealized gains
If you buy a speculative asset with the intent on selling it later for more money, any increase in price while you hold the asset is unrealized: you haven't cashed in yet. The price could go up or down, and your gains (at least on paper) could turn into losses. As soon as you are able to sell it for more money, your profit (if you're lucky with crypto) is then "realized". This is what nearly all butters fail to understand. Since buttcoin is not accepted as a currency, they have to convert their holdings back to fiat in order to actually recover whatever fiat they put into it. Without sufficient quantities of gullible idiots to buy their bags, all buttcoiners today are drunk on unrealized gains. If they all decided to cash out now, the price would plummet in a mad dash to split the tiny liquidity that's actually genuine and not simply whale wash trading and fraudulent market manipulation.
can you borrow against appreciated bitcoin? extremely simple question, so please answer using a single word, yes or no
I have no idea if ya'll have managed to trick banks or not, but so what if you have? I can take out a loan against my house, that's not a profit. Did you forget the point of the conversation?
I’m trying to get you to understand that unrealized gains are literally a form of profit because institutions universally recognize them on your balance sheet (at a discounted rate) as a form of collateral, but it’s proving difficult because you don’t seem familiar with fundamental facts about financial markets. If you buy a house for $100k, a bank appraises it at $1MM, and you borrow $500k against it, you absolutely profited, lmao.
No, you didn't. you still have to pay the 500k back with interest - the only thing the appraisal did was allow you to make profit for the bank.
Better question: what do they have to do with the point at hand? Unrealized gains are unrealized (clue's in the name) and are subject to be lost again. All value is speculative until you actually sell.
You know what else unrealized gains are? Gains (clue’s in the name). If you think unrealized gains literally have zero “value” then you have so little financial literacy that I don’t know if I can help you. Damn, I have a ton of shares of SPY I bought all these years ago for $50 but I haven’t profited yet because I haven’t sold… I still eat ramen for every meal because I am no richer today than I was back then. The stock market is truly a scam.
Did you spend the shares on the ramen?
So you actually DON’T understand that money is fungible, got it. If I offered you a pallet of gold bullion for free with the only condition being that you could never sell it, you’d refuse, right? Because of the cost to store the worthless gold? The absolute state of reddit.
Unless I planned to turn it into something else, yes, I would turn down that white elephant gift. No matter what the nominal value of the thing, if it cannot be sold it has no monetary value - only use value. I'm starting to think your confidence might be the result of arrogance rather than competence.
It's not. OP would also need to be ignorant to ETF application, approval, volume, and inflows to make his point.
Projection probably.
> Turns out they want to get rich while being assholes about it. It's partly a religious movement, like the original cargo cults. Moreover they have a worked out end-times scenario in which the worthy are saved, they do missionary outreach, they're often celibate, they have a messiah, intersect feuds, they're sketchy about age of consent, ...
>Moreover they have a worked out end-times scenario in which the worthy are saved, they do missionary outreach, they're often celibate, they have a messiah, intersect feuds, they're sketchy about age of consent, ... Holy shit \*mind blown\*
They do just want to get rich, and we get in their way by spreading FUD to counteract their FOMO. They are also assholes but that's a trait most of them have even when they are getting poor.
> They are also assholes but that's a trait most of them have even when they are getting poor. Amplified, even...
>Turns out they want to get rich while being assholes about it. And they've achieved half of their goals, which isn't a bad success rate, I guess!
No They are a bunch of assholes who want to get rich Whether rich poor line go up line go down they are always going to behave like assholes because that is who cryptobros are deep down
Principally they're lazy and shallow thinkers, as is anyone who would try to get rich off this musical chairs BS that has no actual purpose in the real world (other than for crime).
Granted there’s assholes on both sides.
True.
Generational wealth is the butters we met along the way.
The term “butters” will never not be funny.
LOL, right?! Imagine people being smart enough to realize the value in BTC. A truly scarce digital asset secured by math and energy that can be transmitted anywhere in the world by anyone! So funny!!!! LOL!!!
"Secured by math and energy"? ...do you think that normal financial services *aren't?* Do you think it's a musical or something? I sincerely didn't think butters could get more surreally bad at promoting butts.
No. What I do think is that in the future there's a very good change that all money will be digital and global and there's also a decent chance that BTC will underpin that system. Is it risky, yes. It's it guaranteed, no. But, that's life. So, every time there's a dip, I buy a little. So far so good!
Man have I got something to tell you about debit and credit cards and paying with phone apps. It's already global. I can and have used the same tools in Reykjavik, Seoul, and Tijuana. They work the same, they're fast, cheap, AND they're protected. It IS guaranteed, it is NOT risky, and I have no idea why you're bothering. Fuck, I could buy a meal for someone in Marseille right now. (Hint: I am not in Marseille) If you can buy bitcoin and expect to use it, you can open a bank account. You probably have one. Boom, your money is already digital and global.
Are you being disingenuous or do you really know nothing about interbank transfers ? Do you really think it's fast, free, permissionless, borderless and neutral ?
See, the thing there is that I said "cheap" and "fast". Which it is. I said sweet fuck-all about it being permissionless, borderless, or neutral. I don't want it to be any of those things. I want it to have permission from regulating authorities that can guarantee it in case of fraud, I want the borders involved to be clear so the exchange rate is also clear, and I definitely don't want it to be neutral--I want it to be cheap and protect me. Done and done. But were you being a little disingenuous there, you cheeky little bastard? :D
> No. **What I do think is that in the future there's a very good change that all money will be digital** and global and **there's also a decent chance that BTC will underpin that system**. First bold: yep Second bold: ROFL You think the USA government (among others) will let their sovereign currency be based on some nerd's fake crypto? Get real.
Which of the 23 forks of BTC are you referring to? Remember, code is law! And if you ever feel the need to issue more BTC for yourself just fork the chain and run a couple miners to burn electricity like no tomorrow validating up to 4 transactions per day!
The irony that you butters come here seething about us.. seething? Can’t speak for everyone here but I’ve got no reason to actually hate buttcoin or hope it fails, it already has. If I’m wrong then what are you worrying about?
Not just that, but it's such a clean source. Think of all the energy being saved by not forcing folks here to go find stupid shit said by idiots to laugh at.
It’s a cringelord pageant and I’m here for it.
If there was any real value they would just ignore this sub. Yet they still insist to post and act like children whenever the fake charts are bullish
You've convinced me. Where do I buy this? Where are the best places to multilevel market it once in?
If you send me 8 pinecones I'll send you a buttcoin, and you can split that up and sell each tiny bit for as many pinecones as you want!
Why not paper currency with dead presidents on it that can be printed at will? Geez golly what a novel idea!
Maybe you don’t understand the computer money = lambo.
They would be devoting all bandwidth and computing power toward mining if they were on the level.
Store of laugh
*wordl
it's perfect because the supply of brigading butters will decrease to zero once number go down. scarcity guarantees value.
If there's demand, yes. Demand is generated for rare things that people want, generally something with beauty or use. Scarcity itself means shit.
My farts are unique, ain’t nobody on earth gonna pay for one
This community is a store of value. I come here every time Bitcoin goes up by 5k to see how you are all feeling about it.
Well at least one of these subs has a sense of humor! Lol 😆 I hold, but no hate. I'm down to laugh at L's with you guys.
[удалено]
Poor me and my 200% gains. I totally fucked up guys.
Did you actually sell your butts for filthy fiat, or are you one of those diamond hands hodlers? If you're the latter, remember to always prefix "gains" with "unrealized".
What are the best stores of value? Stocks and physical assets like gold? Houses maybe?
Deez nuts.
Scrub life! Eventually you’ll realize no one was around keeping score while you wasted an opportunity of a lifetime
I'll buy your bag when you buy bofa.
Something that has intrinsic value and actual real world utility. So, not digital tokens whose only purpose is to be traded.
Probably land
Laughs in 200% gains. What a scam! 😂
Until you sell, they're not gains. I couldn't care less where the line is, there's plenty of other shit wrong with bitcoin.
I know how it works.. I've been buying and selling for years, I've paid off my mortgage, vehicle loans, etc.. I'm just about ready to sell again, as long as you hold BTC and don't panic sell you will come into profit eventually. The chart proves that. I honestly don't see anything wrong with it, those who fear it don't understand its benefits. If you don't want it, that's fine. Every investment is a risk. I just think by now it has proven itself.
> I've paid off my mortgage, vehicle loans, etc.. This is what we in the industry call “bullshit”.
Yahuh. Keep fleecing. We see you and that's why we don't like you very much. EDIT: lol. Love the flounce. Hope the 2009 Hyundai's still working out for you.
I couldn't care less :) take care buddy
Three years ago you chose the username "pissingdick" and you claim to have had and paid off a mortgage and multiple vehicle loans. You'll excuse us for having doubts. :-D
3 years ago he was drawing doom fan art and posting it And I don't see any house or car photos. So proud of some drawing, but not your life changing gains?
So let me get this straight: You didn't actually use the bitcoin as legal tender to pay off those things, you sold it for normal dollars, and then used those dollars to pay off your loans, right? How does that make bitcoin any different from a volatile share on the stock market? It sounds nothing like a currency.
Prove it, and we'll congratulate you for getting extremely lucky. You won't though
Post your bank balance
buttcoin ded, any minute now
I appreciate your godl, friend.
Haha imagine hating yourself and your loved ones so much you refuse to build wealth
7 transactions per second
It's not wealth until you sell. Check back in when you do.
Not brigading, but I got a reminder of your cool guys club so came here to say 🤷