Gyroscopic Investing

bitcoininthevp

Will be interesting to see the consequences of if Btc is permitted to grow enough to stabalize and undermine the financial system. Where money is pulled from commercial banks causing a runaway bank-run. I very much suspect however that major central banks will prevent things from getting that far. ...

bitcoininthevp

The problem with the concept is that the PP is not designed around wildly speculative assets, but that's what BTC is for now. The PP assets are designed to be volatile because we are choosing the asset that gives you the best capital efficiency for the type of risk exposure. Each PP asset carries a...

bitcoininthevp

This is one of the coolest aspects of Bitcoin IMHO and it is called the difficulty adjustment. If more people are trying to mine bitcoin, the algorithm makes it harder, which helps keep Bitcoin's emission of new coins on schedule. So if a ton of new miners join to mine, algorithm makes mining "...

bitcoininthevp

To the tulip guys, do you distinguish between Bitcoin being in a (series of) bubble vs Bitcoin being a bubble? For example here are a bunch of bubble pops that have happened in Bitcoin: $30->$1 $260->$40 $1200->$200 $19k->$3k $65k->$28k I think even us die hard Bitcoiners think there will be another...

bitcoininthevp

My objection is that Bitcoin as a stable store of value (at least as it stands today and in the near future) kind of...well...sucks. I dont think anyone is claiming bitcoin is currently a stable store of value. In fact, to the contrary, I sent a chart that had "reliable store of value" as...

bitcoininthevp

Today I read that the simplest purchase of something with Bitcoin generates the consumption of $100 in electricity, assuming low rates being used by most miners. It is 1173 kWH. https://fortune.com/2021/10/26/bitcoin-electricity-consumption-carbon-footprin/ Each transaction doesn’t add to bitcoin e...

bitcoininthevp

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! My first reaction was....

bitcoininthevp

I am talking out of my ass here, not knowing enough. What are the chances, like wifi encryption, and lots and lots of other historical precedents of unbreakable security being broken, that someone or something or some group in the near future can hack or break or otherwise get into the system and c...

bitcoininthevp

I'm just kind of going down the line that drastic value changes in either direction are way more unlikely with the dollar (which is the main reason I don't have anything in Bitcoin). Bitcoin seems to be short term volatile and long term value up. USD seems to be short term stable and long term valu...

bitcoininthevp

how much value the BTC network can secure is something that can be determined based on its market cap That’s just it, you can issue tokens on the bitcoin network that are NOT BTC tokens. And, in theory, the value of those issued tokens could be much larger than the native BTC tokens on the network.

bitcoininthevp

One, how many of the transactions in Bitcoin so far are for actual goods or services and not just speculative buying and selling of Bitcoin for short-term investment/speculation purposes? How, does this compare to the amount of goods and services bought in, say, USD each day? Two, how is Bitcoin ch...

bitcoininthevp

I kept thinking that all these L1 native coins were commodities but in reality they are all trying to be money. I think Bitcoin is trying to be money. I think others are utility tokens that people think will have value but since they are just utility (chuckecheese) tokens they wont keep value other...

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...

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