You’ve been incredibly consistent in the dipping in and out there Brendan, dipping in and out over six long years over every single Bitcoin thread. In fact, you started most of them!
That’s a very conveniently coloured, selective use case memory you have going on there Brendan. I’ll leave you with it.
I’m not manipulating what you wrote. Yes, Bitcoin is a cryptocurrency but for many years already (here and elsewhere), many people have been pointing out that you can’t tar all crypto projects with the one brush. I guess you can and you are and I’m merely pointing out that its inaccurate to do so. Carry on if you believe them to be all the same but you’ll forgive me if I return and point out the very same distinction as before ->"crypto" ≠ Bitcoin
Tell me this - which media was it that painted him as wonder-boy? There’s six years of discussion where folks on here say don’t stick up a link to anything unless its from our trusted mainstream news media. Worse still, who was it that tried to soften the narrative immediately post-collapse in order to help him avoid jail time? The very same mainstream news media that y’all love. New York Times and WaPo top of the list but there were many others.
Ok, so I was supposed to know in advance that SBF was putting his hand in the till? Really? And how would I have known that? More importantly, where was your warning? And sorry, just saying its all nonsense with no notion of what’s going on would not make for an actionable call. Ok, let's make it easier for you. You believe in the traditional finance world right? Where was your warning that Madoff was doing what he was doing and had been for how many years exactly? Ditto - re. the Enron fraudsters.
And while I’ve indulged your FTX rabbit hole, I’ll remind you again, what has this got to do with Bitcoin as a decentralized protocol. It doesn’t give a toss. The Bitcoin-only folks felt vindicated by the FTX collapse. To try to tar and feather the Bitcoin protocol on the basis of the FTX collapse makes no sense whatsoever.
Ok, so I was supposed to know in advance that SBF was putting his hand in the till? Really? And how would I have known that? More importantly, where was your warning? And sorry, just saying its all nonsense with no notion of what’s going on would not make for an actionable call. Ok, let's make it easier for you. You believe in the traditional finance world right? Where was your warning that Madoff was doing what he was doing and had been for how many years exactly? Ditto - re. the Enron fraudsters.
And while I’ve indulged your FTX rabbit hole, I’ll remind you again, what has this got to do with Bitcoin as a decentralized protocol. It doesn’t give a toss. The Bitcoin-only folks felt vindicated by the FTX collapse. To try to tar and feather the Bitcoin protocol on the basis of the FTX collapse makes no sense whatsoever.
Yeah, lets pause here and consider a couple of things. Firstly, when you say the "same road" are you saying that both of these guys have committed fraud and stolen customer money? Secondly, you are aware that these are centralized businesses that provide some of the market plumbing relative to crypto yet they have no control over the Bitcoin protocol? Have there ever been wayward businesses in traditional finance? We've covered some of that already haven't we?...although lets top it off by stating that the stream is constant and ongoing. I couldn't give a toss about either of the two you mentioned. The issues with those businesses can be addressed such that customers are protected OR the powers that be can contrive to create certain outcomes and use that for political gain. Again, failings of the old system.
Oh, you better believe that was by design (but for different reasons entirely to the ones you're thinking.
Let me think that over...concepts getting overcome by something new and improved? Lets see, Rai stones, gold, fiat....got it! Yes, I agree. And the 'new invention over time' - this is why folks like Brendan, yourself, Duke, etc. can't say when Bitcoin will fail? I have to say, I'm in complete agreement. Maybe I can use cryogenic tech to make sure I'm still here for the moment it gets taken down.
Ah, so stuff like code...that's invisible so you don't touch anything like that? I mean in fairness we're taking a step back if we're not regarding the Bitcoin whitepaper as an idea. It seems to be accepted by folks in cryptography as a breakthrough in that field.
Oh, I see. So AI, there hasn't been any illogical investing into that? Dot com? Positioning in Bitcoin has been played out by the entire spectrum. Again, the trap you've fallen into is the assumption that this is 100% speculation with zero substance...and yet, if that was the case, it would have died within its first market iteration.
So everyone on Wall Street is moral and pays their taxes but anyone who takes a position in Bitcoin doesn't? lol
Already addressed. According to what you're saying, if I simply get rid of my Bitcoin portfolio and stick with my stock portfolio, suddenly I become an intelligent investor. The reality is that this is not some sort of choice that people have to make - it's the farthest thing from that. The two items couldn't be more different.
You seem to have taken some sort of offence at me suggesting that we pause and examine something that you wrote and see if it checks out. I'm totally unsure how you've taken offence at that when its precisely the point of a discussion board!
I don't doubt that at some times there are better investments and I'd suggest that it's not an either/or thing in any event. I'm not an investment professional - I'm the farthest thing from that. However, in my amateur understanding of the world, I'd certainly be happier with some exposure to Bitcoin within a mix of investments than not albeit not at any cost. Markets can get ahead of their skis in Bitcoin, stocks, you name it.
See above. I've manipulated nothing. I have expressed a differing opinion.
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