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1321  Economy / Speculation / Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion on: March 31, 2021, 02:45:27 PM
Not sure what the confusion is with. There should be a description of what NFT entitles you to, like with ANY contract.

Not sure what your confusion is with.

Unless NFT are written into ownership/copyright law and it is thereby enforceable by law, then they are completely useless.

Doesn't matter what an NFT supposedly entitles you too...the supposed contract is worthless and unenforceable.
1322  Economy / Speculation / Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion on: March 31, 2021, 01:40:32 PM

Here's the direct link to the full article:

People's Expensive NFTs Keep Vanishing. This Is Why

What a mess... Not the way I imagined NFTs to function—I'm a total NFT newbie, so I can't really have an informed opinion, but based on the very few things I've read so far, it doesn't look so good...

Here's another relevant article:

People Are Stealing Art and Turning It Into NFTs

I don't think this NFT craze (as currently implemented) will end well...

So what's stopping me from taking a digital photo of a wall painting I own, and sell it as NFT art?

Nothing.

Under current ownership law, the purchaser of my NFT digital "painting" would receive nothing of value, and I would still retain ownership rights to my physical painting. I could create as many digital copies online as I want, keep selling them over and over again, and not lose ownership of the original painting. If it ever went to court, I could just claim that someone took the digital photo of the painting without my permission.

That's precisely why NFT is a scam.

"The Emperor has no clothes!"
1323  Economy / Speculation / Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion on: March 28, 2021, 11:17:04 PM
[...]

By the way, I did listen to that podcast between Laura Shin and Saylor in the end of January when it came out (here's a link if peeps want to listen to the whole 1 hour and a half thingie), and sure Saylor did end up lecturing Laura a bit in regards to some of her seemingly trader rather than HODLer thinking.. so there were some seemingly hostile times during that interview, and maybe it did kind of show that Laura might have been under-appreciating the power and importance of bitcoin through her ongoing attempts at journalistic objectivism.

[...]

I hadn't listened or watched that interview, thanks for that link. Here's the YouTube video:

Why Bitcoin Now: Michael Saylor on the Best Way for Companies to Buy Bitcoin - Ep.209

I found Saylor was his usual entertaining self, trying to simplify the various concepts, and making them more digestible for Laura and the Bitcoin newbies in the audience—which is a good thing, and Saylor is pretty good at it. I think he was a bit repetitive at times, reiterating the "thermodynamically sound monetary network" line, and the points about electricity, running water and Venezuela. He did come out as trying to persuade her to a degree. "And, by the way...this", "and, by the way...that"...

Laura came out as the happy Bitcoin semi-noob, with a pinch of evilness, when she kept mentioning about "Bitcoin reaching a bubble/peak", "when to sell", and overly laughing at times. She has a pleasant personality, I like her. I didn't get the impression that she has a deeper anti-Bitcoin agenda or anything like that, but rather, that she has the typical reservations and skepticism that anyone trained in the traditional monetary system would have. To her, the crypto space is just a new, hot thing that will increase her exposure and audience, will add more Twitter followers and viewers/listeners to her interviews and podcasts, but I don't think she really fully grasps the gravity and importance of Bitcoin and how it will transform the monetary system in the near future.

It's always great to listen and watch Saylor educating the masses about Bitcoin. In retrospect, a careful listener could have even guessed Tesla's $1.5 billion Bitcoin investment announcement that came about 10 days later. I believe this interview will forever haunt Laura Shin, when the time comes when she will see in awe and disbelief that Bitcoin has exceeded $10 trillion market cap, and Apple, Google and most of the big players have bought in.

Wait a sec...that woman calls herself a "Crypto Journalist" and yet doesn't own any Bitcoin??? ??

No skin in the game == Ambivalence == Nocoiner == Crypto Journalist Fraud
1324  Economy / Speculation / Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion on: March 25, 2021, 06:45:59 PM
The mainstream media FUD never ends. Love how this article sounds positive at first, until the very last paragraph:

If You Invested $1,000 In Bitcoin One Year Ago, Here's How Much You'd Have Now

https://www.yahoo.com/finance/news/invested-1-000-bitcoin-one-141008853.html

Quote from: Last paragraph
Given the exponential rise in Bitcoin prices in the past year coupled with the loss of stimulus payment support in the coming months, some investors are understandably growing concerned about a potential repeat of the 2018 sell-off. Bitcoin has experienced three boom-to-bust drawdowns of more than 80% in the past decade, and a similar sell-off in 2021 could send its price tumbling back down to around the $12,000 level.

 Roll Eyes  Roll Eyes

1325  Economy / Speculation / Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion on: March 24, 2021, 03:55:17 PM


ha, when you drive off the lot almost ANY car would depreciate 9-11% instantly, it's a fact, so harping about btc volatility is a non-starter.
What if btc declines 10%? lol
In addition, people like this always forget about the REPLACEMENT trade, which is available.

It's going to be fucking hilarious to watch what Tesla does during the next Bitcoin blow off top.

Watch as the 'buy with bitcoin' page magically disappears as their website gets bombarded with buy orders.  Roll Eyes  Tongue
1326  Economy / Speculation / Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion on: March 22, 2021, 01:23:00 PM
I just listened to the Robert Kiyosaki interview with Saifedean Ammous.

It is one of the weirdest things I have ever heard.  But good.  Kiyosaki rips Saif to shreds for his absolutelist tendencies which was satisfying, but he also sort of also reinforces the bonehead boomer stereotype. (As a GenX person I get to laugh at just about every generation that matters (since our basically does not)).

https://www.richdad.com/podcasts/saifedean-ammous


I just listened to it, for someone who wrote a book, can't even answer a simple question...

RK: I've started my own Gold Mine, "Why can't I start my own Bitcoin"

Robert knows a lot about Bitcoin, but is playing dumb just to gauge the response of Saif...

I've listened to a lot of Robert Kiyosaki's podcasts where the subject of Bitcoin comes up. Robert asks that same question every single time. I think long ago when he first started asking that question, people would try to answer it by saying, "Well you absolutely can! But...many have already with forks, and..." and he would then just tune them out on their unsatisfactory (to him) answer.

So now people don't even try to answer it anymore. So then he goes around still saying "No one every seems to give me a satisfactory answer to the question: 'Why can't I just create my own Bitcoin?' "

They have, Robert. You're either just not listening, or you don't care for the answer you are receiving.

"It's not about how many Bitcoin networks are created. It's about which one of them is believed in and supported the most."
1327  Economy / Speculation / Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion on: March 20, 2021, 08:56:02 PM

I realized right away that nothing good would come of it: either they would spend the early years laughing at you because they think it's a scam, or spend later years pissed at you that you became rich (on a scam asset in their minds) and won't share the wealth with them.


Those are the only two options? Do you only know shitty people?

Yep...with the exception of the WO gentlemen, that's all the world is full of now.  Tongue

All joking aside though, even if they didn't do those two things above, the more likely outcome is complete ambivalence toward Bitcoin. Acting like the only people who invest in btc are just weirdo nerds.

From the stories I've seen here and elsewhere on the net, looks like hiding my ownership of btc was the right call after all.

I get to have all of the financial upsides, and none of the social downsides. I don't need bragging rights to feel wealthy, people can see by the things that I own that I'm well off. They don't need the details of exactly how I did it. I also don't need a target on my back.

1328  Economy / Speculation / Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion on: March 20, 2021, 06:24:01 PM
Unfortunately, some people who know I have bitcoin seem not to care for my opsec and will happily discuss the fact that I hold btc with anyone they feel like. Which is annoying, since I don't go around talking about anyone else's finances. So I am wondering how to address this issue. It didn't seem to matter many years ago that I had told a few of my friends about my btc holdings but now, at these prices, it's something I wish I hadn't done.

Anyone else in the same boat?

Pretty much everyone...     

Yeah, I was discussing this with my gf the other day. She has family members that have told loads of other family members. It’s really irritating, I don’t want to be having to face questions like -

‘So how many bitcoin do you have’
‘What are they all worth’
‘When will you sell’

Mind your own damn business. I don’t ask to see your wages or bank statements, assholes.

This is why I made the decision from my very first purchase, to never tell any friends, family members, or colleagues that I own bitcoin.

I realized right away that nothing good would come of it: either they would spend the early years laughing at you because they think it's a scam, or spend later years pissed at you that you became rich (on a scam asset in their minds) and won't share the wealth with them.

Either way, you won't be admired for your brilliant investment, like you deserve to be.
1329  Economy / Speculation / Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion on: March 20, 2021, 02:07:15 PM
We barely entered the fun zone... real fun begins when market cap of gold will be smashed.



It sunk in that Apple made 1/86th of the world's money by selling overpriced crap.
We're a very special species, aren't we?  

It also should sink in that Microsoft essentially makes all it's money putting a new version # on a piece of software that it perfected 2 decades ago, and all the world's corporations and users are forced to upgrade to it no matter what. You "pay" to continue using the same shit you already paid for many times over.

Yep, very special species indeed.
1330  Economy / Speculation / Re: [WO] NFTs are good! on: March 18, 2021, 10:01:36 PM
Why are some Bitcoiners getting bent out of shape about this?  Just because NFTs run on generalized smart-contract chains,0 which Bitcoin is not?

To put it simply: in the crypto community, there seems to be this prevalent attitude that anything and everything crypto-born is absolutely fucking awesome and will change the world.

Well guess what, there was something absolutely fucking awesome created, one thing, and that was Bitcoin. It actually solved a problem with money that absolutely needed solving. And it will change the world.

Everything else is either a solution looking for a problem that doesn't exist, or isn't really a problem. 99.99% are just complete, straight up shitcoin scams.

NFTs are just the latest iteration of crypto scam-straction. They solve nothing that actually is a problem or needs fixing. They will eventually be relegated to the dustbin of history, along with shitcoins, ICOs, etc.
1331  Economy / Speculation / Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion on: March 18, 2021, 01:40:32 PM
With one exception: “The scarcity is artificial.  Anyone can make perfect copies of it.”

The scarcity of ownership is artificial, but it's as real as physical scarcity. There can only be one owner. So this point is moot/baseless too, BUT my objection pertains to those goods where ownership is not needed to be able to enjoy the good. As in, picture files, digital music or similar items. The issue here is enforcing DRM based on NFTs. This could be a thing, right, but then apart from the technical details, the creator, too, should be prevented from making additional copies ("reprints") of the creation. So you release, say, a tune as a NFT, and as a consequence no radio can legally broadcast it? Or can they? You sure shouldn't be allowed to release more "declassified" copies, or you are "inflating" the supply. Or I can use the song even if I don't "own" my copy's NFT? So you decide once and for all how many copies you are releasing? Shaky technical terrain. Shakier legal terrain. IANAL. Some legislation will be needed. No, not the SEC, that's right.


Copyright laws and ownership laws already cover this. NFTs are not only unnecessary (and redundant), but not recognized by law. They bring nothing necessary that is missing to the table. And introduce new problems that don't exist.

Another solution looking for a problem that either doesn't exist, or is not really a problem.

(I'm gonna go out on a limb and just say it: young people are naive and stupid for believing in this NFT shitscam.)
1332  Economy / Speculation / Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion on: March 17, 2021, 05:01:01 PM
TIR: The Federal Reserve buys up more public and private debt in ~14 months (@ $120B/month rate), than the entire market cap of Bitcoin built up over 10 years.

Mind blown.

How much more Fed debt will they own over the next 10 years?
1333  Economy / Speculation / Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion on: March 17, 2021, 03:54:39 PM
NFT garbage scam going full on retard now:

The World’s First NFT House Is Now for Sale
https://www.yahoo.com/lifestyle/world-first-nft-house-now-230000169.html

 Roll Eyes  Roll Eyes
1334  Economy / Speculation / Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion on: March 17, 2021, 02:06:58 PM
Another reason not to own filthy fiat.

https://www.foxbusiness.com/markets/janet-yellens-signiture-to-hit-us-2021-currency

In fact, the Fed reserve note just lost its fungibility. I'll be trading any of my fiat notes with that stupid bitch's signature on it for one without.
1335  Economy / Speculation / Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion on: March 15, 2021, 03:19:10 PM
LOL the jokes write themselves Cheesy

https://twitter.com/michaelmiraflor/status/1371424970593562631

NFTs getting hacked and stolen

Looks more like an account got hacked. Not the NFT's.

It's more about the fact that the artist doesn't have the right to their art anymore.

"Not your keys, not your digital tulip art scam"
1336  Economy / Speculation / Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion on: March 14, 2021, 05:33:18 PM
1337  Economy / Speculation / Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion on: March 10, 2021, 06:29:20 PM
12% yearly is pretty damned good for traditional investments (of course bitcoin beats that in almost any timeline of any kind of significant timespan of 4 years or more).

As I had said several times, my various traditional investments have averaged in the ballpark of 5.5% to 6% over 30 years or so, and so anything that might consistently be having returns greater than 6% would be good (even though some years I did have returns in the 20% to 30% arena, but they did end up averaging out to around 5.5% to 6%.


Ah...well, no, not really.

Let's see: 12% minus ~10% yearly real inflation = +2%. Not great, just ok.

And your trad investments? -4%/year after inflation. Terrible.

Tsk tsk, JJG.  Cheesy
1338  Economy / Speculation / Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion on: March 10, 2021, 04:55:14 PM
OT: Me observing the second GME short squeeze/ bubble thingy...

1339  Economy / Speculation / Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion on: March 09, 2021, 09:30:01 PM
@Bloqport
BREAKING: JPMorgan has filed a set of documents for a 'Cryptocurrency Exposure Basket' with reference to #Bitcoin .

The filing, which lists 11 reference stocks in the basket includes MicroStrategy, Square, Riot, NVIDIA, Paypal, CME Group and more
https://www.sec.gov/Archives/edgar/data/1665650/000121390021014251/s131030-fwp.htm

https://twitter.com/bloqport/status/1369382771089637386?s=21

Jamie Dimon is probably spinning in his grave.

I think you probably meant J.P. himself.

Jamie is still alive, but when bitcoin moons (again) he'll likely have a heart attack and die. Then he'll spin in his grave.
1340  Economy / Speculation / Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion on: March 09, 2021, 06:10:08 PM
I will add, people really underestimate the importance of low property taxes.

Case in point: I live in a brand new, state-of-the-art, 2500 sq. ft house on many many acres of land. My yearly property taxes are ~$1400/yr., even with all the land.

By contrast, I have a family relative that lives with her husband in Chicago. She's an Anesthesiologist and he's a commercial pilot. They also live in a 2500 sq. ft house, built in 2003, on 1/3rd of an acre of land. Not only did their house cost 2 times as much as mine + my land just to purchase, but they pay a whopping $24,000 per year in property taxes. That's $2000 a month going out the window in just property taxes!! And yet they still complain that they are strapped every month.  Roll Eyes  Tongue And because they are in Illinois, their property taxes are likely to continue going up. Hell, their property taxes could possibly double within just another decade or two.

You know what you can do with an extra $1900/month over thirty years? A fkn lot, that's what. Invest, buybtc.

In 20 years they will still be upper middle class poor, and I will be even more wealthy.
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