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Prediction: Bitcoin Will Hit $100,000 by the end of 2021


Barry McCockinner
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4 minutes ago, nj meadowlands said:

You're right, I just don't get and I'm not smart enough to get it. Bitcoin is awesome.

I don't think you want to get it.

Solving digital scarcity in and of itself was a major breakthrough in computer science. Solving the Byzantine  Generals problem was another major breakthrough. There are a lot of interesting things about it if you care to learn.

It's easier to hear someone else yell Tulips and move along parroting that though.

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16 minutes ago, Barry McCockinner said:

I don't think you want to get it.

Solving digital scarcity in and of itself was a major breakthrough in computer science. Solving the Byzantine  Generals problem was another major breakthrough. There are a lot of interesting things about it if you care to learn.

It's easier to hear someone else yell Tulips and move along parroting that though.

Meanwhile, you want to believe, Mulder.

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15 minutes ago, Barry McCockinner said:

I don't think you want to get it.

Solving digital scarcity in and of itself was a major breakthrough in computer science. Solving the Byzantine  Generals problem was another major breakthrough. There are a lot of interesting things about it if you care to learn.

It's easier to hear someone else yell Tulips and move along parroting that though.

how efficiently can transactions be done in Bitcoin?

how long would it take to buy something at Home Depot if i wanted to pay in Bitcoin?

when did you start buying bitcoin?

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What this thread is really missing is some of our classic conspiracy theorists.  The one world guys that complained about all the police cars being white.  Cause cryptocurrency, like the ez pass and metrocard are going to end up scams by the man to able to change prices and gouge us without the majority even noticing.

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50 minutes ago, batman10023 said:

how efficiently can transactions be done in Bitcoin?

how long would it take to buy something at Home Depot if i wanted to pay in Bitcoin?

when did you start buying bitcoin?

Layer 1 transactions are slow and inefficient. The lightning network is a layer 2 network that allows for instant settlement with bitcoin. It is already integrated into many of the well known POS systems retailers use and it allows them to accept the settlement in whatever currency they want. So if they choose USD they can accept bitcoin payments over the lightning network and have them instantly settled in us dollars. This is far more efficient and less expensive than the traditional payments system for the retailer. With the traditional payment system they have to wait days for settlement. From a personal use perspective, it would take as long as using a visa card.

I think it was about 2016 when I got into bitcoin but I'm not 100% sure on that.

Edit: actually it had to be a year or two before that because I remember donating to a presidential candidate during 2016 primaries with Bitcoin. That turned out to be a huge mistake.🤣

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1 hour ago, Barry McCockinner said:

You are correct it is not good money today because of the volatility. Bitcoin has a relatively tiny market cap and is still in price discovery mode. As it matures and becomes a bigger market cap the price will stabilize and become less volatile. 

Bitcoin has crushed gold (and everything else) on the longer time frames though.

So you have now admitted it's not digital gold.  It's your expectation that it will become digital gold.  That's not the same thing.  

The market cap has shrunk drastically.   

Crushing gold as an investment is ruitenly done by huge amounts of investment opportunities.  None of them are replacement for gold as a reserve currency. 

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15 minutes ago, Biggs said:

So you have now admitted it's not digital gold.  It's your expectation that it will become digital gold.  That's not the same thing.  

The market cap has shrunk drastically.   

Crushing gold as an investment is ruitenly done by huge amounts of investment opportunities.  None of them are replacement for gold as a reserve currency. 

Bitcoin is better money than gold due to reasons already stated and will eventually, Satoshi willing, mature into the world reserve currency.

btw, the market cap has grown significantly since it has been introduced. you just choose a short term time frame of a volatile low market cap asset to point.

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Just now, Barry McCockinner said:

Bitcoin is better money than gold due to reasons already stated and will eventually, Satoshi willing, mature into the world reserve currency.

 

This is exactly why it's a ponzi scheme.  Eventually if everyone dies SS will be solvent.  

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20 minutes ago, Biggs said:

Telling people why it's better money while agreeing it's not money is definitionally a ponzi scheme.  

that is not even close to the definition of a ponzi scheme, you should look up what a damn ponzi scheme is.

I am telling you it has better properties than gold for being good money. Gold has been the best money in human history due to the properties it has. It failed as the world got smaller and people needed to transport it over larger distances. That's where bitcoin wins. It has all the properties that made gold good money and it doesn't have the weakness that allowed scammers to rug pull with fiat. We are living in a world that is more and more digital and we now have digital scarcity that makes better money than gold. 

Keynes was used as a tool for the scammers who had already rug pulled everyone by printing way more fiat than gold they had owned. The scam that is Keynes economics is going to come to a brutal end. You cannot print economic energy out of thin air or delete it. The can can only be kicked so far. Many will suffer.

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2 hours ago, nj meadowlands said:

image.thumb.png.07d3d772d02aedec818fd1ea669ea8b7.png

snake oil would make worse money than dog sh*t since it's even less durable. imagine trying to pay someone with an ounce of snake oil and watching your value spill to the ground. Although, similar to the US dollar you could watch your value evaporate into thin air over time if you left the top open.

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that is not even close to the definition of a ponzi scheme, you should look up what a damn ponzi scheme is.
I am telling you it has better properties than gold for being good money. Gold has been the best money in human history due to the properties it has. It failed as the world got smaller and people needed to transport it over larger distances. That's where bitcoin wins. It has all the properties that made gold good money and it doesn't have the weakness that allowed scammers to rug pull with fiat. We are living in a world that is more and more digital and we now have digital scarcity that makes better money than gold. 
Keynes was used as a tool for the scammers who had already rug pulled everyone by printing way more fiat than gold they had owned. The scam that is Keynes economics is going to come to a brutal end. You cannot print economic energy out of thin air or delete it. The can can only be kicked so far. Many will suffer.
Especially those that believe in crypro.

Sent from my SM-G950U1 using Tapatalk

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On 6/24/2022 at 12:09 PM, Barry McCockinner said:

snake oil would make worse money than dog sh*t since it's even less durable. imagine trying to pay someone with an ounce of snake oil and watching your value spill to the ground. Although, similar to the US dollar you could watch your value evaporate into thin air over time if you left the top open.

Id like to see all the athletes and others  who were paid in Bitcoin.  Owe taxes pon something that now is 20 percent of its value.  LMAO!  

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2 hours ago, southparkcpa said:

Id like to see all the athletes and others  who were paid in Bitcoin.  Owe taxes pon something that now is 20 percent of its value.  LMAO!  

You're looking at too short of a timeframe. Again, there's no 4 year period where Bitcoin has lost value. Now look at the dollar.

Hopefully these athletes were given good information on volatility and time preference for Bitcoin before diving in.

Purchasing-Power-of-the-U.S.-Dollar.thumb.jpg.257f20135be8f5a5fa877aae3a6466c2.jpg

Eventually the fed will be forced to pivot and Bitcoin will again soak up the money printer.

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2 hours ago, Barry McCockinner said:

You're looking at too short of a timeframe. Again, there's no 4 year period where Bitcoin has lost value. Now look at the dollar.

Hopefully these athletes were given good information on volatility and time preference for Bitcoin before diving in.

Purchasing-Power-of-the-U.S.-Dollar.thumb.jpg.257f20135be8f5a5fa877aae3a6466c2.jpg

Eventually the fed will be forced to pivot and Bitcoin will again soak up the money printer.

Yet the dollar is the currency most widely accepted in the world and is the basis for almost the entire world economy.  The fall of value in the dollar is economic related and absolutely reduces any crypto with it. This argument may be your weakest. 

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11 hours ago, southparkcpa said:

Yet the dollar is the currency most widely accepted in the world and is the basis for almost the entire world economy.  The fall of value in the dollar is economic related and absolutely reduces any crypto with it. This argument may be your weakest. 

The dollar price of bitcoin is about double what it was when this thread was started. The dollar has lost spending power over that time, but not by 50%.

The dollar as we know its days as the world reserve currency are numbered. Fiat money is a scam. Gold was much better but it's inability to easily be transferred securely and quickly over longer distances as the world shrunk opened a door for Keynesian scammers. Bitcoin has all the properties that made gold good money but not the weakness that allowed fake government fiat scam money to take hold.

It may take a few iterations before we arrive at the peoples money, but we should all hope for a bitcoin standard sooner or later. The alternatives kind of suck and the most likely alternative is some kind of CBDC which is pure evil.

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37 minutes ago, Barry McCockinner said:

The dollar as we know its days as the world reserve currency are numbered. Fiat money is a scam. Gold was much better but it's inability to easily be transferred securely and quickly over longer distances as the world shrunk opened a door for Keynesian scammers. Bitcoin has all the properties that made gold good money but not the weakness that allowed fake government fiat scam money to take hold.

It may take a few iterations before we arrive at the peoples money, but we should all hope for a bitcoin standard sooner or later. The alternatives kind of suck and the most likely alternative is some kind of CBDC which is pure evil.

The "Peoples Money" is the Yuan.  

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20 minutes ago, Biggs said:

The "Peoples Money" is the Yuan.  

I don't know what you mean by this. I sometimes refer to bitcoin as the peoples money because it's a gift to humanity. It separates money from state and takes debasing power away from central bankers and governments.

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