He is a very smart dude with lots of insight. It's just his "big bad maxi" narrative that is annoying. He may not realize that the whole "Ethereum is actually more amazing than Bitcoin" argument is fairly worn out for people who have been paying ACTIVE attention for longer than him. He actually goes WAY back in having interest in "crypto" but only came out guns blazing this halving epoch. Overall I like Raoul Pal, his insight and judgement of Bitcoin is sound. Well at least as long as he doesn't pull a Nassim Taleb and turn on it/us, or favor other shitcoins over it. Although I will say that he has not done enough DD on Ethereum to realize that the future promises it makes are both unachievable and untenable. Complete vaporware scamcoin. But he is spot on here, and the contrast he is pointing out is still not really being heard over the ROAR of "ZOMG BITCOIN VOLITILE CANNOT BE SOV" screaming noise.
But we are getting closer.
People when 100X over-leverage is raging: "Bitcoin is too unstable to be a SOV." People when 100X over-leverage has vanished: "Bitcoin is boring." or "Bitcoin is dead."   |
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Ongoing development - Bitcoin software is still in beta with many incomplete features in active development. New tools, features, and services are being developed to make Bitcoin more secure and accessible to the masses. Some of these are still not ready for everyone. Most Bitcoin businesses are new and still offer no insurance. In general, Bitcoin is still in the process of maturing. https://bitcoin.org/en/faq#what-are-the-disadvantages-of-bitcoinYeah...like Linux is still in beta. Scary to think the whole fkn world runs on it now. /s |
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Some unsolicited sage observations and advice from someone who has been through these BTC ups and downs many times:
1) China is the culprit that allows the whales with massive over-leverage to run during the bull stage. They don't say shit when the price is going up (of course not), but pull the rug with FUD when they are ready to short. It's all part of their game. They have done it before during prior bull runs, and they will most certainly do it again in the future. Controlling the majority of mining is also part of their game, so they are not going to "crackdown" on mining. That's completely BS.
2) If Bitcoin cannot hold a certain price for very long, then it was massively over-leveraged by whales and was not meant to be. Pay attention not to where it flies high, but where it lands and where it scrapes the bottom. It's current true SOV price is somewhere along that line.
3) Bitcoin's fundamentals and purpose never change from what they are, no matter the price.
4) Take comfort in knowing that new ATHs tell you where the price is going and will "be" someday, not where it will be now. Notice how old ATHs are eventually left completely in the dust. This new one will be no different than the others. Have extreme patience.
5) Your btc accumulation/holding strategy should be just like the goldbugs. If you are not DCA'ing in and holding through at least 2-3 halving cycles (if not forever), then you are doing it wrong. Short term thinking is mental weakness. If you can't handle it long term, get out now before anxiety overtakes you and you pull a MR.
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I can sense across the great biosphere, that one of you is about to have a Mindrust moment. Question is, which one of you is it?  |
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Since even their followers can figure out how to consistently pronounce it, I've been calling it "Douche-coin". Hope it sticks. Oh and btw, the Gen Zers already think that people that like meme coins are "Cheugy". Whatever that is. So I think douchecoin is doomed long term. |
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Man I'm so glad he keeps blabbing, showing the world just how much of an idiot he truly is. This is great. Keep going, Elon. "Better to stay quiet and be thought a moron, that to open your mouth and remove all doubt."But how many of them can't tell either? They can tell...  https://twitter.com/TESLAcharts/status/1393994530131742720 |
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Man I'm so glad he keeps blabbing, showing the world just how much of an idiot he truly is. This is great. Keep going, Elon. "Better to stay quiet and be thought a moron, that to open your mouth and remove all doubt." |
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That head-and-shoulders pattern that the whales have been painting since 3/5/21 is as fake as Elon's head of hair.
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But we all know that the earth is a sphere. And that we are living inside of it. As Tolkein told us.
I've seen Mordor with my own eyes, I tells ya! It's real! |
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SNL? Isn't that some comedy TV show?
It used to be. Long ago, when it was actually funny. Not anymore. Hasn't been since the days of Chris Farley and Will Ferrell. |
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Elon does not officially have a coin but who knows he must have grabbed a ton of doge in the recent past.
Uh...last time I checked, he has bought $1.5 billion worth of Bitcoin. Not seeing where he or his company has bought any Doge. Or any amount that would matter. We know the game. We've seen this movie before. "Hey, don't look over there! Look over here!" |
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Guys, this is all playing out *exactly* like 2017 did. Remember April/May of 2017? It was right around that time when the BCash fork and UASF shitshow fiasco started up. Bitcoin dipped hard and shitcoins started getting pumped. The forum was raging about it, and how Bitcoin was losing marketshare to shitcoins. The bullshit went on well past the BCash launch in August 2017. We all know what happened after that. So HODL on, my good friends. Keep buying those dips. |
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Well, the last few hours has definitely been something interesting. Good to see we bounced right the fuck off the 46k mark and now back into the 51's. Kinda sad one person, who is relatively new to crypto and BTC in general, can make a tweet and cause this much panic. I'm not sure what the fucking end game was here but I can tell you it's got nothing to do with BTCs environmental impact. If he gave a shit about that his strip mining operations for lithium would stop too. Plus he's hurt his own investment by knocking the price down some. Time will tell I guess but BTC is bigger than one person and let this serve as a warning to us all... don't champion a single person as a hero in this space, humans are shitty and invariably will let you down
You would think that after the whole "from 'Bitcoin Jesus' to 'Bitcoin Judas' " fiasco, the community would learn that lesson. But oh no... |
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I gotta say... I respect his commitment to his ideals. An entire army of oldschool bitcoiners were starting to replace "Wen Lambo" with "Wen Tesla", and he just told them to go fuck themselves.
I am sort of being facetious, of course. But I will arrogantly point out that when they put Bitcoin on the site and everyone was asking "Will you be buying a Tesla now?", I held my tongue. For lot's of reasons, no small one being it takes more than a token gesture to earn my respect.
I have a feeling that the total number of Teslas bought with Bitcoin == 0. I think this is one of those "you can't fire me, I quit" scenarios. Musk was expecting a bunch of people to roll in with their Bitcoin and nobody came to the party. I have a feeling that it's worse than that. I bet that overall demand for Teslas worldwide, has either completely stalled or fallen. And it could get even worse for him. Demand could start to freefall. That's why he had to do some "creative accounting" with Bitcoin on the balance sheet last quarter, just to make it look like they made a profit. |
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I'll likely own an electric car one day in the future. In another 10 years or so, when the tech has matured. But I can pretty much guarantee that it won't be a Tesla.
All of the pre-existing automotive companies will be able to produce them not only better, but more reliable.
Tesla will have to pivot completely away from making cars. They don't make any money on them anyway.
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One of his wealthy WS buddies must have wanted to take a position. And the SEC doesn't consider this market manipulation? Un fkn believable. |
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Just noticed what you did, you dorks! I told you 9xx is fine, damn it. You'll pay for this!
With great power comes great responsibility. Use it wisely. |
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It looks like all markets in the US are down on the news that inflation was at 3.4% yesterday.
This means that there will be pressure on the Fed to stop their Bitcoin pumping scheme by cutting back on their monthly spending and eventually raise rates.
Yeah, but we all know they won't in either regard. They are trapped between 1.5-2% range in interest rates. Completely trapped. They will keep printing, and announce YCC to the world and act like they are saving markets from out of control inflation. But it'll keep rising, especially in assets. The billionaire talking heads will keep spouting "market bubble" and "potential selloff", all the while continuing to buy buy buy the stock market. It'll keep hitting ATH after ATH. |
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