WTF is now wrong, all cryptos down?
- Thread starter jorge
- Start date
I got some grid bots on a few stronger ALTs just for fun, but it's just 4 digits to play.
You can make short term gains on ALTs if you ride the shills, but if you don't take profits they'll turn negative very quick.
And in a bear market they all get killed, we︀ could see a glimpse of it in the price action yesterday (btc vs. alts).
If you want to keep your hair, BTC is the only choice.
You can make short term gains on ALTs if you ride the shills, but if you don't take profits they'll turn negative very quick.
And in a bear market they all get killed, we︀ could see a glimpse of it in the price action yesterday (btc vs. alts).
If you want to keep your hair, BTC is the only choice.
only bitcoin. The rest is all nonsense (i give eth a half pass here tho, plus the stablecoins if you must have them due to banking issues). If you want to diversify get some other asset class.
you can create some alts yourself and try to make some buck, or follow the influenzas (can︀ be tricky) and it doesnt work for me now as it used to.
you can create some alts yourself and try to make some buck, or follow the influenzas (can︀ be tricky) and it doesnt work for me now as it used to.
If you understood money, then it would be painfully obvious that the current system is broken beyond repair. But it's a hard chasm for most people to cross, because then they have to admit that everything they were taught about money is wrong.
"Diversification" is simply selling the winner to buy a bunch of loosers.
Your stocks/bonds/cash/real estate etc is not︀ keeping up with debasement. You think you're getting ahead (and you are in nominal terms),︁ but in real terms you're going backwards very quickly.
"Diversification" is simply selling the winner to buy a bunch of loosers.
Your stocks/bonds/cash/real estate etc is not︀ keeping up with debasement. You think you're getting ahead (and you are in nominal terms),︁ but in real terms you're going backwards very quickly.
T
thomasparra
Guest
Hard currencies will outlive you, me, your children and their great children.
Even if you recognize the current flaws of the current system and provide a reliable and widely recognized solution (spoiler: you don't), history is filled with systems, ideas, or practices that persisted for centuries or even thousands of years after they were widely acknowledged as problematic or unsustainable and their collapse. I have hundreds of examples to prove that your conviction is incredibly reckless:
- The Roman Empire: The empire had obvious signs of decline for centuries: economic instability, political corruption, military overexpansion, and currency debasement (sound familiar?)
- The Caste System in India
- The USSR: It took 20 years for it to collapse, even though it was evident in the 1970s that it eventually would.
- The QWERTY keyboard: This layout was designed 200+ years ago to slow typists down and prevent the typewriters from jamming. More efficient keyboard layouts have been invented (like Dvorak, Colemak), but QWERTY remains the global standard despite its inefficiencies.
I could keep going. Unless you want to bring your Trezor wallet with you in your grave, I would advise not to be 100% invested in cryptocurrencies but once again to each their own. Diversification and Freedom are the two key values on OCT and I try to abide by them everyday of my life.
Last edited: Feb 4, 2025
Hard currencies will outlive you, me, your children and their great children.
Even if you︀ recognize the current flaws of the current system and provide a reliable and widely recognized︁ solution (spoiler: you don't), history is filled with systems, ideas, or practices that persisted for︂ centuries or even thousands of years after they were widely acknowledged as problematic or unsustainable︃ and their collapse. I have hundreds of examples to prove that your conviction is incredibly︄ reckless:
- The Roman Empire: The empire had obvious signs of decline for centuries: economic︅ instability, political corruption, military overexpansion, and currency debasement (sound familiar?)
- The Caste System in︆ India
- The USSR: It took 20 years for it to collapse, even though it︇ was evident in the 1970s that it eventually would.
- The QWERTY keyboard: This layout︈ was designed 200+ years ago to slow typists down and prevent the typewriters from jamming.︉ More efficient keyboard layouts have been invented (like Dvorak, Colemak), but QWERTY remains the global︊ standard despite its inefficiencies.
I could keep going. Unless you want to bring your Trezor︋ wallet with you in your grave, I would advise not to be 100% invested in︌ cryptocurrencies but once again to each their own. Diversification and Freedom are the two key︍ values on OCT and I try to abide by them everyday of my life.
Even if you︀ recognize the current flaws of the current system and provide a reliable and widely recognized︁ solution (spoiler: you don't), history is filled with systems, ideas, or practices that persisted for︂ centuries or even thousands of years after they were widely acknowledged as problematic or unsustainable︃ and their collapse. I have hundreds of examples to prove that your conviction is incredibly︄ reckless:
- The Roman Empire: The empire had obvious signs of decline for centuries: economic︅ instability, political corruption, military overexpansion, and currency debasement (sound familiar?)
- The Caste System in︆ India
- The USSR: It took 20 years for it to collapse, even though it︇ was evident in the 1970s that it eventually would.
- The QWERTY keyboard: This layout︈ was designed 200+ years ago to slow typists down and prevent the typewriters from jamming.︉ More efficient keyboard layouts have been invented (like Dvorak, Colemak), but QWERTY remains the global︊ standard despite its inefficiencies.
I could keep going. Unless you want to bring your Trezor︋ wallet with you in your grave, I would advise not to be 100% invested in︌ cryptocurrencies but once again to each their own. Diversification and Freedom are the two key︍ values on OCT and I try to abide by them everyday of my life.
Correct. BTC is the hardest money known to man.
Indeed. This is where all fiat currencies ultimately lead. Hard money always wins.
Bitcoin, not crypto. "Crypto" is ultimately replicating the existing financial system on new digital rails. Highly centralized control where only a few insiders get︀ rich.
Indeed. This is where all fiat currencies ultimately lead. Hard money always wins.
Bitcoin, not crypto. "Crypto" is ultimately replicating the existing financial system on new digital rails. Highly centralized control where only a few insiders get︀ rich.
T
thomasparra
Guest
The Earth will also cease to exist at one point. You could be eventually right in year 2100 and we would be both long dead before your prophecy ultimately materializes.
Maybe. I have read that 0.01% of the total BTC holders have 60% of the BTC supply. Is that your definition of a pure decentralized system?
The Earth will also cease to exist at one point. You could be eventually right in year 2100 and we would be both long dead before your prophecy ultimately materializes.
Maybe. I have read that 0.01% of the total BTC holders have 60% of the BTC supply. Is that your definition of a pure decentralized system?
Maybe. I have read that 0.01% of the total BTC holders have 60% of the BTC supply. Is that your definition of a pure decentralized system?
I wouldn't be so categorical. I have nothing against bitcoin. But when I hear that︀ stocks and real estate are nonsense - ahaha - really? Are you serious now? That︁ is, for example, having a million dollars, you think that you need to buy bitcoins︂ with them, and not, for example, buy income-generating real estate for long-term rent with part︃ of this money? And also, for example, buy shares of top US companies paying dividends︄ for a couple of hundred thousand? Would you prefer not to do any of this,︅ and just buy bitcoins now with your hard-earned million?
1) buying BTC is not an investment while buying RE and stock is as it involves︀ counter-party risk requires edge to generate yield
2) that yield from RE and stock investments︁ must by definition beat the expected growth of purchasing power of BTC which is currently︂ from extremely hard to impossible
so yes, you really should buy bitcoin and appreciate how︃ lucky we all are to be at the beginning of something bigger than the internet︄
2) that yield from RE and stock investments︁ must by definition beat the expected growth of purchasing power of BTC which is currently︂ from extremely hard to impossible
so yes, you really should buy bitcoin and appreciate how︃ lucky we all are to be at the beginning of something bigger than the internet︄
the evolution doesn't work for individuals... if you expect to benefit from it yourself then you might be disappointed.... on the other hand I think it will be surprisingly fast
decentralization doesn't mean equal distribution of the asset
commies have also quite strong opinions on how thing should and︀ shouldn't look like - the (especially nowadays) popular equality is an absolute bulls**t and chimera︁ - it's no surprise that in the early stage the majority is accumulated in the︂ hands of those who are smart and/or have balls - adaptation is the key to︃ success
decentralization doesn't mean equal distribution of the asset
commies have also quite strong opinions on how thing should and︀ shouldn't look like - the (especially nowadays) popular equality is an absolute bulls**t and chimera︁ - it's no surprise that in the early stage the majority is accumulated in the︂ hands of those who are smart and/or have balls - adaptation is the key to︃ success
T
thomasparra
Guest
Would you mind pointing me to respectable sources so I can read more about BTC, its technology, and key factors for future adoption?
I understand that BTC has a fixed supply but even assuming no internal risk (e.g. technical vulnerabilities/hacks, ownership monopolies), I would like to assess the external risks as well (e.g. single government or governmental coalition creating a new cryptocurrency (US + EU creating a decentralized EUR USD cryptocurrency for example), or the creation of a new cryptocurrency with a better technology which is less costly to run and which get wide adoption quickly (Trump coin hit $15B in market cap in a day. BTC could be replaced in a matter of months with the right market signals (hype, support from various influential personalities/countries etc).
Would you mind pointing me to respectable sources so I can read more about BTC, its technology, and key factors for future adoption?
I understand that BTC has a fixed supply but even assuming no internal risk (e.g. technical︀ vulnerabilities/hacks, ownership monopolies), I would like to assess the external risks as well (e.g. single︁ government or governmental coalition creating a new cryptocurrency (US + EU creating a decentralized EUR︂ USD cryptocurrency for example), or the creation of a new cryptocurrency with a better technology︃ which is less costly to run and which get wide adoption quickly (Trump coin hit︄ $15B in market cap in a day. BTC could be replaced in a matter of︅ months with the right market signals (hype, support from various influential personalities/countries etc).
I understand that BTC has a fixed supply but even assuming no internal risk (e.g. technical︀ vulnerabilities/hacks, ownership monopolies), I would like to assess the external risks as well (e.g. single︁ government or governmental coalition creating a new cryptocurrency (US + EU creating a decentralized EUR︂ USD cryptocurrency for example), or the creation of a new cryptocurrency with a better technology︃ which is less costly to run and which get wide adoption quickly (Trump coin hit︄ $15B in market cap in a day. BTC could be replaced in a matter of︅ months with the right market signals (hype, support from various influential personalities/countries etc).
sorry, I'm probably not the right person to ask about up-to-date resources and you could miss something really good... maybe others will recommend
anyways....
check this out https://learnmeabitcoin.com/
also Andreas always did a good job as an educator https://aantonop.com/educational-videos/
I also always recommend the What is money show Saylor series which will give a lot to anyone
and Jason Lowery
for a way broader and philosophical picture of what's the nature of life, role of energy transformation︀ and reasons why bitcoin is such a unique invention
anyways....
check this out https://learnmeabitcoin.com/
also Andreas always did a good job as an educator https://aantonop.com/educational-videos/
I also always recommend the What is money show Saylor series which will give a lot to anyone
and Jason Lowery
for a way broader and philosophical picture of what's the nature of life, role of energy transformation︀ and reasons why bitcoin is such a unique invention
I trust you'll answer all that yourself if you invest 100︁ hours to studying bitcoin - I'd start with the links above - it's worth every︂ minute
You misspelled gold. And BTC got already technologically surpassed in the first few years. The whole premise of BTC being "hard money" or "digital gold" doesn't take into account that technology advances very fast and evolves equally fast. BTC already looks like a bow and arrow compared to other cryptos. If you don't agree now, how do you think technology will look in 100 years?
T