Last time I checked, El Salvador is a sovereign country, and therefore it can set forth its own regulatory framework, which it seems to have done in regards to bitcoin (which has been a point responding to your post - already raised by jokers10).


You seem to NOT know what the fuck you are talking about.   El Salvador already passed laws in June 2021 in which Bitcoin would be implemented as a legal tender in September 2021, which already took place.

There have been various kinds of ongoing usage and building of bitcoin related practices in El Salvador in the past year and a half, and even the passage of further legislation related to the issuance of bitcoin related bonds and clarifications in the past month or so, too.

Of course, you are not incorrect in your suggestion that El Salvador's citizens and institutions are interacting with people and institutions that are located outside of El Salvador, so surely there has been ongoing adjustments in which bitcoin is one of the possible available options for people and institutions who might figure out ways to employ such options, whether we are talking about remittances or other ways in which value might be transmitted and transacted from outside of El Salvador towards destinations inside of El Salvador. 

You are getting ahead of ur lil selfie.


Well, I suppose that's the point, no?

Get ahead of yourself, and then end up being wrong, and then later whine about how "no body can make money" in bitcoin, and bitcoin is doomed.. blah, blah, blah.


There are ways that you can still be saved from ur lil selfie.

One possibility is to lock in whatever current outstanding trades that you have, and let them ride out however, you believe is feasible and try to use some good judgement to the extent that ur lil degenerate gamblin brain has retained any amount of "good judgement."

Create a separate track that involves mostly just figuring out your long-term investment goals, including how bitcoin might fit into that, and then start to accumulate BTC mostly with DCA, buying on dip and lump sum in order to reach BTC accumulation targets that you set, and something like that could take 4-10 years or even longer, depending on where you are at and where you would like to go... perhaps anywhere between 1% to 25% of your total investment portfolio could be a starting target, if you are not sure about where to start.. and perhaps if you have already stacked a decent amount of sats, then you may well not need to be as aggressive in the employment of your BTC accumulation strategies... but yeah, it seems that part of your concerns and desires to continue gambling might well have to do with your feelings that you have not yet accumulated as many BTC as you feel that you should have accumulated up to this point... so there might be ways to plan out a regular BTC accumulation strategy and then plot out a couple of versions of BTC accumulation paths that are a wee bit more aggressive.. so maybe a second possible plan would be regular aggressive, and then perhaps an third possible plan would be something that might be 10% to 15% more aggressive than what you considered to be an already aggressive strategy. 

I am not sure if my suggestions will really help you to help yourself to resolve your issues, because folks who are moving into degenerate gambling territories with their psychology and their finances (mostly an issue with their psychology) have difficulties in moderating their levels of aggressiveness and cannot set limits on their own habits, so some non-generate gambler gets nervous being aggressive or even 10% to 15% overly aggressive, while the degenerate gambler wants to go bigger, and BIGger and MOAR BIGGER.. and cannot help his/her lil selfie in terms of some kind of moderation of his/her approach and to make plans that increase the odds of being richie in the future with less emphasis on wanting everything right away or trying to impress others.

I can have sympathy for various kinds of normies who may well have been lured into these kinds of products, and perhaps even considering that some of them might have been somewhat safe way to earn yields on your bitcoin.

Let me try to describe a normie who may well be in his mid-30s currently (so maybe born mid 80s), and feeling as if s/he is not making enough progress towards getting to entry level fuck you status and/or beyond...

So prior to his early 20s he might not have invested very much, and maybe started to dabble in investments in his early 20s, and by the time, he heard about bitcoin in his late 20s or early 30s in 2016 or so, he was not exactly lured directly to bitcoin, so maybe he dabbled in ICOs and shitcoins too.. and maybe by the time that we are getting close to 2018/2019, s/he has an income of about $48k per year, and maybe he can invest about $250 per week, yet his 2019 investment portfolio that is a combination of bitcoin and shitcoins and maybe s/he is ONLY coming around to learning about sticking with bitcoin ONLY, but the reality of the matter is that s/he is ONLY at about 20 bitcoins with all the time that s/he spent investing, so s/he believes that s/he has to earn yield because s/he heard that current entry-level fuck you status would be about 80 to 100 BTC, and s/he thinks that s/he might not be able to get there.. in terms of the BTC price going up or that his/her BTC stash might have to go up.  So largely s/he becomes impatient with how fast s/he is making progress.

Don't get me wrong, I am not completely feeling sorry for this guy/gal that does not seem to be able to get his/her financial and/or mental shit together and to be more methodical and not to get lured into yield products, and maybe someone in their mid-30s with the equivalent of 20 BTC is in a pretty damned good place in terms of getting to entry level fuck you status, yet I can see how and why such hypothetical person might both get anxious and also consider that it is better to put his/her money to work by earning yield.. and maybe slowly these kinds of people are coming over to bitcoin and getting away from those kinds of yield products, because they realize that it is better to have control over their value (not getting rug-pulled) and it still might not be a bad thing to get to entry-level fuck you status in your mid-40s or even early 50s if you can be methodical, prudent, practical and patient about it, but it can be really tempting for normies to want to rush these kinds of matters to try to earn yield and not even realize the level of risks that they are taking by handing their money over to degenerate gamblers merely so they can earn 4% or 8% APY or whatever on their bitcoin.

Many longer term bitcoiners are more against the idea of trading bitcoin because it is likely the best of assets that are available, so why would fuck around with the possibility of having less of it by trying to trade it?  That hardly makes any sense, unless you happen to be some kind of an expert or maybe you are just playing the real large price swings so that you are not really trading very often.

There are a lot of shitcoins and other products that you can trade outside of bitcoin, if you believe that you have some kind of talent in that direction, and also we are not even talking about trading in this thread.. so if you at least cannot figure out what we are talking about in this thread and attempt to follow the topic, then you are off topic and should post your ideas in some other thread that deals with that topic (or is at least somewhat more receptive to such topic).

It seems that any of us can make these kinds of comparisons between others, and there does seem to be some requirements of getting into some details when we are making these kinds of comparisons, so I frequently talk in terms of percentages, and if I talk about bitcoin purchase or sales sizes, I will tend to talk in terms of hypotheticals.  However, Michael has obligations to make some specific disclosures, which does help for any of us to be able to attempt to talk more concretely how his strategy might compare to ours, and to even be complimentary or critical of various aspects of his strategies.

I have frequently asserted that any of us are likely to have way fewer ways in which we are psychologically stressed about our bitcoin financial situation when our holdings are in profits, and sometimes there are ways to frame certain portions (tranches) that might be in profits or that would have different average costs per BTC.  The more that we are in profits (or the less that we are in losses), the more likely that we are psychologically less burdened, but also the more that we are in profits, the more options that we seem to have in terms of being able to sell at profits, even if that level of profits could later end up being a less preferable route.. since the longer we have been studying bitcoin, the more likely we know about more and more examples of BTC holders who have regrets for selling too many bitcoin too soon, and sometimes they will end up becoming bitter no coiners as a result of their negative personal histories in that direction of selling too many BTC too soon.

Another thing about Saylor is that likely he has reached several multiples (perhaps magnitudes) higher than whatever his standard of living is and/or his entry-level fuck you status.  So there is likely a certain level of freedom that comes from having systems in place in which you are engaging in financial activities in ways that you mostly are not putting your standard of living at risk, so largely he is likely gambling, trading, investing with excess funds that he does not really need - even though it is possible that his having had put himself into such a public position, there is a certain amount of pride that is at stake in terms of wanting to be right and/or wanting to achieve some level of fame and legacy based on life accomplishments that are measurable/comparable to other historically rich influencers, so that surely is likely a factor that might differ with the rich and famous as compared to many of us folks who are either publicly unknown or that we might even be somewhat anonymous in terms of our forum/public participation in regards to these bitcoin-related topics.

How does crypto relate to this thread's topic?  I am not even sure what crypto is, and please don't try to explain it unless you are somehow attempting to relate it to dee cornz.


That does not happen anymore?

It seems that TrustedBitcoiner is currently in the process of showing us how to lose all of his money.  Ironic, no?

Greed does seems to be a discretionary thing in which each of us attempts to figure out how much of anything that we want to accumulate and/or to hoard and also the extent to which we want to spend and if we do spend where we choose to spend.

Bitcoin does allow for (and possibly facilitates) our abilities to determine how we might manage our wealth, once we are able to build it... One of the things that fiat inflation seems to do is to rob from savers and rob from folks who have fixed incomes and are no longer able to work to gain (or negotiate) their cashflows.   So it can be quite sad to see prices of some kinds of products and services doubling and that does have pretty strong effects on folks with fixed incomes and might even cause them to have a lot of insecurity regarding how they hold their value.. including that if they have cash, the whole system of inflation and robbing value incentivizes to spending as soon as possible, if there might not be a way to hold such value in a way that it preserves some reasonable amount of purchasing power.

It sounds to me that you are feeling sorry for yourself.

That couldn't be very relaxing.

Another thing is that when I quote the above, I am suggesting that there is a difference between just being neutral to others, or giving the eebie jeebies.... I would feel better if I do not give people the eebie jeebies, but maybe that is just me. 

Also, I agree with part of your point about not having concerns about what others think, up to a degree. I usually try to bathe or shower myself on a regular basis, especially if I am going to be in close contact with others; however, if I am out in the woods or know that I will not be interacting with others, I feel that I can be more lackadaisical in regards to some of those hygiene matters up to a point.


Pretty high odds that it will come somewhere between one hour from now and 1 year from now, and we have to cross $22,222.22 before we will be able to get to $70k.

Just so you know, we have to get to a new ATH before we are able to reach $70k too. 

Bitcoin has never been to $70k.. never ever, ever...  even though there were some peeps (or at least one peep) who had been proclaiming it to have been certain to happen (like as if that price was imminent), and calling it to have had been "imminent" like right around 21 months ago..

and we still have not yet gotten there.  Who would-a-thunk?  Sometimes it is possible to get so close, but not quite get to the spot that we might speculate to be able to get, and that seems to be one of the tricky thingies about bitcoin in regards to likely better financial and/or mental health if we do not overly expect things, but just go with the flow.  You heard about that?  just going with the flow?      patience young grasshopper.

I am not much of a subscriber of the power of mere positive thinking without other actions to effectuate the changes that you would like to see. 

I know a lot of folks emphasize these kinds of positive thinking matters, and I suppose it is all fine and dandy to have positive thinking so long as it is also coupled by various kinds of actions that go beyond merely thinking positively.

I do agree that it can be quite wearing to be around people who are NOT able to think positively, so there likely needs to be some balance - otherwise some of the think positively bullshit just starts to get annoying... at least that has been my perspective, and surely these are relative matters because I am sure that many of us are much more receptive to interact with anyone who seems to NOT be draining upon us.... so surely there is some power in terms of having good bedside manners and being genuinely nice and not complaining all of the time.


No problem.

Reasonable people can differ in regards to what they consider to be fair value and what factors/indicators they take into account in order to attempt to measure what they believe to be fair value.

Just on a hunch, I might be willing to concede fair value might be somewhere around the 100-week moving average, yet of course we are more than 50% below that.. so maybe my secondary concession would be that fair value should at least be above the 200-week moving average, and we would need to get somewhere around a 15% MOAR price appreciation in order to get to that bottom threshold.

If we all agreed on fair value, then there would be less volatility, and likely fewer instances of feeling as if we are in a battle or a war..


... but what should we expect if we are likely in the midst of one of the largest (if not the largest?) peaceful transfer of wealth that the world has ever seen?

Surely each person is going to have different ways to attempt to assess BTC "fair value" including perhaps considering the extent to which they might end up being motivated to buy some bitcoin, and for sure there are quite a few folks (the overwhelming majority) who either do not have any at all and surely do not even come close to having enough, in the event that they do have some.   .. but that's fine.. they will come to bitcoin when the come to bitcoin.. even if it might take a bit of time for some folks to realize various ways to value bitcoin, which also will affect perceptions of "fair value."

In some senses, I can relate to Saylor since I started to buy BTC in late 2013 towards the top of that peak, so it took a bit of time for my average cost per BTC to go below the current price, more or less 2.5 years for me.. and I had been relatively aggressively buying the whole time.

Saylor's level of aggressive buying of BTC seems to put aspects of my buying to shame in terms of percentage of his wealth.. not really referring to the quantity so much.. yet, I was getting the sense that he was being more aggressive than was fruitful for any kind of normal person since he was leveraging up so much, and in some sense, he is working with such large numbers that it becomes almost a totally different game in terms of his safety net and probably not even really putting his standard of living at risk... since he had already been living the life of a multi-millionaire with several yachts and also several luxurious housing that he was maintaining for many years.

In the end, he likely has become somewhat nervous about BTC's recent price performance, but likely not even close to as near as normies might worry about having an average cost per BTC that had been bordering 50% in the negative when the BTC price had gotten down to $15,479 - however, now he is getting back into a territory of ONLY being around 30% in the negative.  At one point my own holdings were around 70% in the negative when my average cost per BTC was in the mid $500s and the BTC price had dropped below $160 per BTC... so there can be some stress on regular people to have your investment that far down, even if you had previously felt that you had confidence in your investment, being that level in the negative can contribute towards your questioning your conviction in regards to your investment.

Of course, bitcoin in El Salvador goes beyond symbolism, and surely decisions involving artistic choices of the Miss Universe contestant may well have input from a variety of folks - yet at the same time, the various ongoing adoption efforts likely have impacts on the whole population of El Salvador and even to influence some of the citizens/residents in terms of whether they might take efforts to adopt bitcoin as one of their savings and/or payment options or to consider if there might be ways that they might be able to use bitcoin, including perhaps reconsidering their foreign remittance practices if they might have had been receiving payments from people living outside of El Salvador and sending it back to them and maybe they might be able to save money by using (getting involved in) bitcoin?

Yes, I was thinking something similar to you NotATether in terms of hodlonaut putting words into LukeDasher's mouth, but then I see Luke's responses and he kind of just goes along with those characterizations.. so yeah, sometimes the fights and the characterizations of the position of the other person are not really fair.... yet it is was interesting to see that back and forth including that AdamBack jumped in to defend aspects of Luke's eccentricities.

So Wind_FURY, I imagine that you picked up BTC at sub $24k and then you picked up more at sub $20k and then you picked up more BTC at sub $17k, and so now, you are wanting to hold onto some of your cash, just in case we have more dip opportunities later in the year.

I don't really have any problem with that mindset for someone like you who has already been stacking since 2016.. and there may be BIGGER dilemmas for folks who started stacking after November 2020-ish.. so they have not had as many opportunties to stack, and likely the BTC price is still way below their average cost per BTC, that is if they have been stacking for the last 2 years or perhaps a bit longer than that.

I am not going to proclaim to know any kind of exact answer, but there could be some ways to attempt to both prepare for the dip, but also prepare in case no significant dip actually ends up happening... even with our latest UPpity BTC price move, we are still around 13% below the 200-week moving average... which are historically low prices in terms of that particular indicator.. and yeah, macro circumstances has issues, but there might be questions regarding the price performance of BTC relative to various macro factors.. and we could continue to either get sideways or even trickling upwards while macro circumstances might continue to flounder, and I have never been too much of a fan for claims that BTC is correlated to macrofactors, even though surely liquidity issues overall do have effects on BTC prices, but not necessarily completely in ways that might be expected if you are taking into account the view of mainstream gurus who likely do not really appreciate various aspects of BTC.. and also think that BTC can be controlled.. which may well end up blowing up on them at various points, even if it ends up that bitcoin moves sideways rather than UP (or down).

I would rather consider my own efforts and working towards progress improving myself as competitions with myself rather than competitions with others, and I give few shits about what others think about me.   At the same time, I have no problem attempting to be courteous to others even if they do not agree with me or my vision in various ways.

Also, personal goals do not necessarily need to be described to others, unless there might be some reason to describe what you are doing.  Let's say that a friend might ask you to engage in a certain recreational or entertainment activity, and you might say that you are working on x, y or z project, or that you could not see spending $200 on that because you have a budget that ONLY allows less than the amount that they are suggesting you spend, or that you are reading a book and needing to prepare for a class, or that you have to go volunteer on a project that does not pay any money so you are giving up some of your wages in order to get exposure to certain experiences, so perhaps your friend will consider that you are spinning your wheels and wasting your time, and I doubt that you need to prove anything to him/her but instead just keep plodding on your path in terms of selecting your priorities that might not show meaningful/material/monetary results in any kind of short period of time, perhaps won't even show meaningful/material/monetary results in 3-5 years... even though the results can be seen by you in terms of your feeling more and more prepared for higher level challenges and perhaps even offers or opportunities that come due to your various ongoing and persistent preparations and choices how to spend your time.

Another thing if you worry about impressing others, then you may well be focusing your energies wrongly or worrying about the wrong things... because sometimes (if not frequently) others might not be able to measure or appreciate your results and they may well consider that you have not put yourself in a better place, even though your assessment might be different, and it could even take 10-20 years or longer when you realize that you don't really have to work anymore or that you can choose not to do certain kinds of work, and you might see that your friends from earlier years are struggling financially or even having to work for many years beyond your own path.


I doubt that each of us have equal opportunities.  There are going to frequently be decisions regarding what kinds of resources that you have available and how to spend them, including your time and energies and if you have created reasonable goals that you can work on achieving.  Sometimes any of us could put ourselves into a position that we have to change our goals or that we might lose track of our goals, and we also might create goals but then do not take adequate steps in a direction that would work towards achieving the goals, and surely people do not start out with equal resources, but there may be times in which their paths cross but there still might be different resources that might exist at different points in life.

I would imagine that each of us fuck up in various ways in life, and some of the fuck ups are more recoverable than others, but some fuck ups lead us down a path that might make it more difficult to create certain goals that we had previously considered as possible and reasonable.  I would not even proclaim that we are able to put ourselves into any path that we like, and surely there is value to youth, but there is also value with social circles or money, but having wealth (and resources) in any one area will not necessarily guarantee us success if we squander it or don't figure out a way to deploy it, and for sure, we could screw up one of the areas, but still have some fall back areas that we can use to either reestablish our earlier goals or maybe to create new paths that are based on our having had to readjust to new circumstances, all of which might not have been chosen or foreseeable but become part of our new baseline upon which we are attempting to go forward.

It appears that yesterday hodlonaut had some back and forth with LukeDasher via twitter to assert that LukeDasher was misleading people and claiming that there were no ways to keep bitcoin secure

Hodlonaut says:

>>> According to
@LukeDashjr
 there is no way to prevent your bitcoin from being stolen. No safe way to store bitcoin.

Reckless misinformation/FUD, and a huge 🚩
<<<<<

https://twitter.com/hodlonaut/status/1615033789956202496

Wow!!!!  You are even more amazing than I originally had thought TrustedBitcoiner, especially since you are not using leverage..

That's good.. I think.





It's like being dumb, but less dumb.

 




What else would we do in this thread if we did not have actual real world examples to share their experiences (of what not to do) herein?

I don't play those kinds of games... From my perspective, it is not even bettable hardly... including that I have systems in place in which I never have to try to guess about which one comes first because I have orders to buy that go down (starting at about $19.5k - ish - and I have a few play buy orders higher than that).  Currently, my BTC buy orders are about in $500 increments, and currently they go down to $10k.. but of course, I would prefer that NONE of them execute.. especially anything at or near $15.5k or even below that.  

In regards to me BTC sell orders the next one starts at $21,600-ish.. and those are becoming increasingly larger price increments.. and really relatively small amounts, historically speaking.  I had previously calculated that I had sell orders that sold about 1.3% of my BTC stash all the way up to doubling of the BTC price from about $17.5k to $35k, so that is pretty historically low amount for me and somehow it worked out like that when I have had the ability to sell up to 10% of my BTC stash for every 2x.. but it seems that I have not been close to those sell limits for years and years and years... and until I did the quickie calculation a week ago or so, I had not realized how low my BTC sell amounts had become. and I think that it has to do with how historically low our recent BTC prices have been.. especially since after about June 2022 when we got close to the 200-week MA and then dropped below the 200-week MA and had a lot of difficulties getting back above it.. which surely seems to have somewhat subconsciously inspired my towards biasing my system pretty heavily in favor of BTC buy orders that I would prefer NOT to have executed, but they are there.. just in case.. just in case..

but who knows?  who the fuck knows?  and really it just seems over the long run we are inclining up.. but not even that is guaranteed so I am not going to fuck around with trying to figure it out.. just keep my system in place protect myself for either direction while at the same time maintaining the preference for UP.. so in that regard, it feels way better to be bouncing around in the lower $20ks (even though we are still below the 200-week moving average that is currently slightly above $24.5k than it felt just a week ago when we were were bouncing around in the $16ks, and diptwats like TrustedBitcoiner was telling us how he was shorting at $17k and expecting down before up and at first he was saying $16.7k but then he upped it to $16.9k.. so cannot really rely on losers like that who are fucking around for change and also failing/refusing to pee pare his lil selfie for up because he is too busy trying to pick up pennies in front of a steamroller and imaginging his lil selfie to be the steamroller rather than the one who is getting smushed like a bug.


Fuck shitcoins and crypto.


Wow!

You sound new here.  There is a lot more that we can do than what you are describing.

Have you ever heard about time in the market is more important than timing the market?  If so, do you know what it means?

Largely it means that you spend years and years and years establishing your BTC position, so that you don't need to fuck around trying to guess about if you are sufficiently and adequately prepared for UP.  

In udder words, you should already be sufficiently and adequately prepared for up..


but I suppose if you be a newbie, you have to work on establishing your position, so hopefully you won't lose too much while you are fucking around hoping for (and betting on) DOWNity that may or may not end up happening either in the direction or the degree that you are anticipating in terms of "has to happen."


Yep.. I recall that we had some back and forth DMs around that time (with you as Crypt0S0ul, and I think that I found out that you were AnotherAlt and then somewhere later down the road a couple other alts, including naim027.. so yeah, not exactly inspiring confidence regarding what you were up to), and our DMs were somewhat weird, and I did suggest that you delete the post that had described that you, as Crypt0S0ul, had sent dust amounts to various members that you had named (which I think were the same ones referenced in Homer's post) - which you did delete that post.  

Anyhow, all strange to me, and I am not even sure why you did any of that in the first place, even though you do have the story that you as Crypt0S0ul were excited about receiving some extra money blah blah blah.. so yes.. that was your seemingly weird story back in September, too.. including I recall that you were trying to shirk some of the responsibility onto me for what you had done.  Again, not exactly clear what you were up to in that whole sending of uninvited dust amounts, as Crypt0S0ul.


He doesn't really inspire much confidence (including the multiple alt accounts that were hidden and then revealed and even barely getting unbanned and some weird stuff like that) that's for sure.

I have been further considering my earlier response to you aesma, and for sure, the considerations of anyone trying to maximize his/her BTC purchases in order to establish a solid BTC position is going to vary when one comes into bitcoin after the BTC price had spent several months on a tear, including having had increased in price by 100x over the prior year - which was the case when I got into bitcoin at the end of 2013, versus now when the BTC price had gone down in price way lower than any of us had expected in terms of going 35%-ish below the 200-week moving average.. .so of course, questions about BTC price location could affect how much you might decide to lump sum in or front load your BTC investment rather than DCA'ing.. but of course, you were not really asking me about that....

And, for sure, your own particulars matter, including whether you had sold any BTC on the way up to $69k or back down to $16k-ish.. and then how much had you deferred your buying of BTC, so you maybe should have had been DCA'ing all along, and then now you may have deferred DCA, which might justify buying in lump sum and buying on dip rather than DCA'ing.. .and for sure these are discretionary matters and I frequently think about how difficult it might be to try to employ DCA during times in which the BTC price might be shooting up.. and that may even be worse than employing DCA while the BTC price is going down because at least when the BTC price is going down you know that you are getting more sats than you had gotten on your previous purchase, and the opposite would be true if you are DCA'ing while chasing the BTC price upwardly... so in those cases there may well be preferences to front load if you anticipate that you have deferred DCA buying for a long time and you might also be considering that the BTC price may well go shooting up.

Another thing is that if you really do not have a situation in which you had been delaying your earlier DCAing, but instead, you are just coming across more cashflow, and maybe in those kinds of situations you just buy what you can on a weekly basis.. and consider whether you might hold some of that value in case the BTC price might dip, while realizing that the BTC price may not dip as much as the price had been earlier.

No matter what it is not easy, and part of the reason that we might want to buy steady and on a regular basis is because the more that you end up buying on a regular basis, then you should have better ideas in regards to what your BTC target levels are and more likely that you have already largely gotten yourself "on-track'.. the more time that you have, the more likely you should be able to have your stacking figured out and so each little incremental addition would not be as BIG of a deal as it had been several years earlier.  In theory, that should be how more time in the market ends up beating out attempts to time the market... so of course, with you, you have mentioned to me that you have had several false starts along the way (which indicates screw ups), but even if we might say that you have gotten more serious about BTC accumulation in the past 4-5 years, then wouldn't you have had accumulated a decent amount of BTC in the sub $10k price arenas, so in that case you should not necessarily be as panicked about continuing to accumulate BTC in the supra $16-24ks.. so each time you DCA, its just another fraction of a percentage added on.. so it could take you several months just to add 1-2% onto your already accumulated BTC stash, no?


If the announcement of the govt regulations is not offering very many specifics, we still my be able to speculate that banks might start to offer various kinds of services that merely involve safeguarding BTC and maybe charging some fees for such, but yeah maybe they would not be able to help themselves in terms of starting to offer various other kinds of services that banks offer - so yeah, longer term bitcoiners might well conjecture that the banks might well want to start with bitcoin and then perhaps start to dabble further into other kinds of offerings, and maybe we might also expect that they might end up going way too much into shitcoins, which causes us to conclude that they do not know what the fuck they are doing, and the law had not provided enough guidance for them.  I am not going to proclaim to know, but we have tended to see quite a few traditional financial institutions who might say that they are focusing on bitcoin, but then they begin to dabble and then there is a kind of slippery slope that causes many of us to wonder if they really know what they are doing.. so yeah, they may well end up with a kind of Coinbase model.. but still end up getting themselves reckt in a variety of ways before realizing that they should be attempting to keep their focus on bitcoin and be evven more risk averse when it comes to shitcoins, but I cannot imagine that many of them will actually engage in such self-restrictions without getting burnt a few times, first.


I say, no time like the present.  Go for it!!!!!, especially when it is not my money.

We can agree to disagree. ... and we seem to be deviating from the point that I was attempting to make with my example in the first place - which was largely, I was trying to outline a scenario in which it can be quite difficult to monitor and/or to receive discloser from parties who are engaging in relationships that create debt obligations amongst themselves, so we can agree to disagree regarding the extent to which new money had already existed (which seems to be your position because there is merely a ledger with an asset and a liability that are created so they balance each other out) or if such arrangement privately created or increased the money supply to the extent that their might not be anything backing up the loans beyond the good will and credibility of the ones who received the loans adding up to $900.

For ease of reference, here's the portion of my earlier post that you were talking about:


I hate to go on and on about this, yet from my understanding the $900 is new money that has been created for a year.  And the duration of the creation of new money will exist for a year so long as that $900 gets paid at the end of the year as agreed.  But if it does not get paid back, then what?  It's a whole on the ledger, and the people who received the loan may still have spent the equivalent amount of money or maybe they never had the money to pay the $900 back in the first place... so maybe they should not have received a free meal and Disney trip that was paid by one of the attendees.  Maybe in some sense, Yogg is like the one not paying for the meal and disney trip that he received?  It is probably NOT the best analogy.. but still Yogg still did end up receiving value in a variety of ways that was not his and breached agreements that involved his not retaining and then subsequently spending private keys.

My understanding $90 interest is an amount to service the fact that within our current system there is considered to be a time value in money but perhaps also to potentially cover default risk of providing the $900 loan for a year, and the fact that we have a whole system in which we might not be certain how much the money (principle) loses value over a year, it could be that the 10% ($90) merely covers the loss of purchasing power of the $900 over that year, if there had been circumstances in which the value of the money had depreciated 10% for the year (perhaps inflation for that year in which food and tickets to Disney went up 10% or some kind of equivalent way of measuring the purchasing power (or loss of purchasing power) of the $900 after the year).

You "need" a batslappening for reals.   


Is such a five-footed cat with a human foot in the room with us now?