Gyroscopic Investing

bitcoininthevp

If I want to buy stocks, I open a brokerage at any of a dozen+ firms. Buying is free, holding is free, selling is free. All I need is a username and password. Can any of that be said of BTC? Im unclear, there are no line item transaction fees so its free? They make no money (on spread?, on selling ...

bitcoininthevp

If I want to buy stocks, I open a brokerage at any of a dozen+ firms. Buying is free, holding is free, selling is free. All I need is a username and password. Can any of that be said of BTC? Im unclear, there are no line item transaction fees so its free? They make no money (on spread?, on selling ...

bitcoininthevp

However, I never really understood the pooh poohing by so many of "fiat" government money, especially the US, making it sound like the money is worth nothing. The US has gold, property, buildings, infrastructure, land, armies, etc. There's absolutely value that could be sold off to prop u...

bitcoininthevp

MangoMan wrote: ↑Thu Oct 28, 2021 11:24 am If BTC is so market efficient, can one of you proponents ELI5 why the cost of buying, selling and holding BTC is so high compared to stocks?

Which exchange are you referencing?

bitcoininthevp

Well the gas fees on RSK are in RBTC which is pegged in/out to BTC and the network itself is merge mined with over 50% of BTC hash rate. So that means if RSK takes off BTC will be used as gas just like ETH is used in Ethereum. I think BTC being used to pay for things is good. That is what money is ...

bitcoininthevp

I would love your opinion on what I mentioned above about bitcoin's non-monetary uses on layer 2s. Im not sure of the non monetary uses that you mention. Lightning is a payment network for BTCs so BTC is still being used as money there. Liquid is similar, you peg in BTC to Liquid network and can do...

bitcoininthevp

what major advantages does BTC have over gold? See a list I made here: "It performs none of the functions expected of gold." I assume you mean gold's functions as money. Here are some valuable characteristics of money: Durability : bitcoin and gold both strong here. Portability : bitcoin ...

bitcoininthevp

What I am asking is this...what is going to make people one day en-masse decide to start spending/earning in BTC or another crypto instead of, say, US Dollars? I cant tell where you are coming from on this. Bitcoin is a trillion dollar network and has been growing exponentially since its inception....

bitcoininthevp

D1984 wrote: ↑Wed Oct 27, 2021 3:46 pm Finally, I still have yet to see a true "killer app" use case for Bitcoin despite Bitcoin being around since late 2009.

Sir, bitcoin is Bitcoin's killer app...

bitcoininthevp

I actually don't think that this is a generational issue but just a matter of what the fundamental nature of gold and bitcoin are. All the data Ive heard is that younger generations own almost no gold and own almost all the crypto. And that older generations own almost no crypto and almost all the ...

bitcoininthevp

I read that 0.1% of Bitcoin miners control half of all mining capacity. This gives rise to the 51% problem. Meaning the network could be abused by a small cohort of miners. I’m not claiming knowledge of how. But you can search 51% Attack and read up. Id be curious as to the source on this, sounds w...

bitcoininthevp

vnatale wrote: ↑Tue Oct 26, 2021 8:23 pm Eugene Fama says bitcoin should not exist. He thinks its value will drop to zero since it doesn’t have enough stability to serve as a unit of account.

This is pretty hilarious given Fama is the efficient market hypothesis guy.

Sorry Eugene the market knows something you dont!

bitcoininthevp

There is also high volatility due to bitcoin’s concentration. According to the analytics firm Flipside Crypto, 2% of bitcoin addresses control 95% of bitcoin. Large holders can dramatically move bitcoin prices. They also raise concerns with the SEC about market manipulation. There is statistical ev...

bitcoininthevp

No ELI5? NGMI

bitcoininthevp

It might be the minimum complexity to achieve what it does, but it's still much more complex than gold. I think its unfair to look at gold at the "physical rock" high level summary and view bitcoin at the "look at the complicated codes and proof of work and ... details" low leve...

bitcoininthevp

Blatant advertising/spamming of a vile ponzi system that clearly advances laundering. Similar to Tor in many ways. Feel no need to get of my ass and learn its intricacies as that just leads down a pathway where the great minds behind it will be confronted with even greater minds looking to compromi...

bitcoininthevp

"The fund has invested $25 million in crypto in what appears to be a first for a U.S. public pension plan."

Another domino to fall.

https://www.coindesk.com/business/2021/ ... -purchase/

bitcoininthevp

I think what this shows is that some people are willing to comment on topics and make definitive conclusions about something without actually having done any research into the subject matter. I believe everyone is entitled to their personal opinions but when it comes to facts, it would help to take...

bitcoininthevp

I like this take: You hold a monetary asset to defer an investment or consumption decision into the future. via https://twitter.com/BitcoinIsSaving/status/1155522254593241089 Whole tweet: A savings product is any kind of asset whose end-use is not consumption or investment. Examples include bitcoin,...

bitcoininthevp

If you take out the long bonds, you are speculating that there will not be continued deflation. Likewise with cash/cash equivalents. Harry mentioned Gold is the worlds second favorite money. And it actually ISNT a good inflation hedge in the short term/smaller inflations. I could see a holding of BT...

bitcoininthevp

Im curious if bitcoin really is becoming a competitor to gold. Distinctly different, similar to the difference between traditional art and digital art. This is a bit vague. Sure the digital vs non-digital difference between gold/bitcoin is there, that’s obvious. But are you tryin to say something b...

bitcoininthevp

I think the author's point is that more and more crypto currencies can be created. There is not a monopoly crypto. That has always been my biggest hang up. You can spin up more and more cryptocurrencies, sure! But its not about the code. The code can be copied and pasted a million times, so that co...

bitcoininthevp

Which is a fancy way of saying that Bitcoin and other cryptocurrencies are very much like any other fiat currency except in their case no government behind them or regulating them. In what ways is BTC like USD? it's his observations about - and questions about, going forward - cryptocurrencies of a...

bitcoininthevp

Here's how, sorry for the preachy tone but it's too much work to re-write now. :) (And using the term BTC very generically or broadly.) Suppose eventually that BTC becomes fairly stable and transactional. Suppose there are people who are accumulating savings in BTC. Suppose a BTC bank offers them i...

bitcoininthevp

Nope…..escape velocity is too great at this point. (There will be more battles….but Bitcoin has already won). You just don’t realize it yet. (Spoiler alert - this isn’t a recent win this happened nearly 5 years ago……it takes time for the main populace to realize this and feel comfortable conforming...

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