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1547
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Economy / Speculation / Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion
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on: January 21, 2021, 12:38:38 AM
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The poor girl! She'd been planning that for 4 years and Jack pulled the rug right out from under her with his permanent suspension of Trump. Actually, the joke is on her... because the dig is completely lost on people like Trump. Narcissists don't remember what they said 5 minutes ago, much less a year later. And when reminded of it, they don't fkn care. It's as if they never said it in the first place, and you are petty and stupid for even bringing it up. Selective amnesia and all. That's why it's not really a 'burn' to people who are Teflon-coated. You can never "gotcha" these types. They are frustratingly unaccountable. Anyone who has been around corporate executives (VPs, C-Level, etc.) will know exactly what I'm talking about. |
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1549
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Economy / Speculation / Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion
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on: January 19, 2021, 09:40:14 PM
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On top of that, i loved *pple for the quality of their products and stable operating systems.
This changed 2015-ish a lot, after which i decided to move back to windoze again. didn't regret it, apart from some delicate pieces of VST(i) plugins, of which no windows ports were available. The fact that ableton live runs on both system made the decision easier as well (originally came from cubase on x86).
I never loved Apple because of the walled garden attitude, long before they became a fashion brand. The stability of the OS is greatly helped by their all in-house hardware. Windoze, while being far from perfect, works whatever you throw at it. And they really care for backwards compatibility. This I really like. Apple's approach to backwards compatibility is "Well dear, you're still using THAT? It's from 2020, you penniless bum!" BTW, which VST(i)s have you found hard to replace? I felt a similar pain when they bought out CamelAudio and gardenwalled Alchemy, which used to be my favorite softsynth. This 100% is why I will never, ever purchase another Apple IOS product - the 'walled garden' approach. These devices are seriously limited and that's not a good thing in any way. Warren Buffett said "Price is what you pay, but value is what you get." I've had colleagues that were long time Apple iPhone users, but as the price has crept up in the last few years, they started noticing that the actual "value" (return) they were getting was starting to stall out. When many of them switched over to Pixels or Samsungs, they were surprised to find value parity, and in some areas value superiority in either the hardware or software. The cult of Apple can be so strong as to convince their diehard users that everything outside the walled garden is complete crap. |
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1550
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Economy / Speculation / Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion
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on: January 19, 2021, 06:20:10 PM
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So...whenever Bitcoin goes from a long, multi-year bear market to start of a new bull run, the MSM pounces to immediately say Bitcoin "is in a bubble".
Every. Single. Time.
Any long time OG Bitcoiners notice the pattern?
I guess the only two binary states that Bitcoin can be in is either "dead" or "bubble". Nothing in between.
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1551
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Economy / Speculation / Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion
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on: January 19, 2021, 06:06:45 PM
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WRT personal technology, the masses' rationality makes zero sense. Spending $1000 on a laptop, just to: have the occasional chat, play a game, check the time, and check the weather. Masses: What a huge waste of your money! Spending $1000 on a smartphone, just to: have the occasional chat, play a game, check the time, and check the weather. Masses: This is the way! Great use of your money!  |
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1553
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Economy / Speculation / Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion
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on: January 19, 2021, 04:18:00 PM
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have a look at this article in one of the most reputable (conservative) german newspapers - the F.A.Z. (it is in german and behind a paywall, meh) https://www.faz.net/aktuell/finanzen/alternative-digitalwaehrung-ether-besser-als-bitcoin-17149396.htmlfor the last decade the FAZ was had a critical stance vs bitcoin. now, after 10 years of bitcoin bashing they come up with an article claiming that ETH "is better than bitcoin." no word about it being centralized. no word about there is no cap. no word about the fact that it is not possible to run a validating node in the ETH network. no word about the fact that its design is fucked up from scratch trying to become a "world computer" on chain. no word about the fact that it has no valid monetary policy. the FAZ has never understood bitcoin, bashing it for years and then went one to welcome this pre-mined scam without the slightest critique. they fell victim to their own moronic stupidity. it all started with the false categorizing "crypto" either "cryptocurrency" is a valid category and only bitcoin is in it or crypto means outright scam and bitcoin does not belong in it. You said it. I told my SO the other day, "Ethereum didn't make any sense to me at $0.50/eth and was a scam then, so it is still a scam to me today. Its price or popularity changes nothing." Same can be said of all the other shitcoins. I believe the "crypto" market was created on purpose, solely to distract and drive people away from Bitcoin. If a sound asset doesn't have any real "competitors", they (whale traders) have to make them up. |
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1554
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Economy / Speculation / Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion
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on: January 19, 2021, 03:52:00 PM
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https://twitter.com/smdiehl/status/1350869944888664064Let's discuss the environmental cost of bitcoin. Because despite all the push for sustainable and green investment in the tech sector, there's a giant smoldering Chernobyl sitting at the heart of Silicon Valley which a lot of investors would prefer you remain quiet about.
...
TLDR on bitcoin economics: It's a pyramid-shaped investment scheme backed by the collective delusion that value can created out of nothing by convincing greater fools to buy it after you do.
...
Stephen, this is really bad, how can I help change this?
* Don't buy bitcoins.
* Tell friends not to buy bitcoins.
* Consider ethics of holding dirty companies ($MSTR, $SI, $SQ, $PYPL, Coinbase) in your portfolio.
* ... and products (funds, ETFs, etc) with crypto exposure.
/fin
...
As a final aside, this is very politically solvable. In the next administration Biden could stop the Bitcoin Waste Problem with the stroke of a pen.
Banning US persons from trading these digital investment contracts is well within the powers of executive branch.
/done
This smells of just another neckbearded IT guy that probably knew about Bitcoin many years ago but sat on the sidelines and did nothing, so now he's bitter. 
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1555
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Economy / Speculation / Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion
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on: January 18, 2021, 11:12:39 PM
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Reasoned piece in NYM: https://nymag.com/intelligencer/amp/2021/01/why-is-bitcoin-making-new-all-time-highs.html?__twitter_impression=trueKey quotes: The entrepreneurs working to make cryptocurrency easier to acquire, hold, and transact with have been working diligently to improve this financial plumbing in anticipation of a full-scale monetization event. Today, it seems that this moment may be upon us.
The first time, your interest may be piqued, but you are wary of buying into something that looks like a bubble. The second time, you realize that what you mistook for a bubble was in fact a cyclical process in a longer-term trend.
Personally, I think the story is far from done and that this revolutionary digital asset still has a long way to run.
Good stuff. Don’t sell cheap  Can't wait to read the MSM headlines 20 years from now:
"Bitcoin still in a 30 year bubble that's about to burst""Bitcoin plunges 20% to just under $5,000,000 within minutes, now in a bear market""Peter Schiff says Bitcoin still going to zero, buy gold" |
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1556
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Economy / Speculation / Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion
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on: January 17, 2021, 07:37:36 PM
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Nice read. I agree on all his points. The way I look at things, whether the dollar gets weaker or stronger in the near term, as interest rates rise the Fed will move to cap them at ~2-3%. The dollar will take a hit. Whatever they do though, they definitely *won't* be turning off the money printer. It's just a matter of how fast they inflate the money supply. Which long term will just mean more asset price inflation. |
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1557
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Economy / Speculation / Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion
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on: January 17, 2021, 06:23:18 PM
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Selling 20mil (in the example) would result in an enormous tax bill, which essentially defeats the purpose, IMHO.
I am waiting for a situation where you can reliably get either interest on btc instead or get cash loans in lieu of btc.
Once the field moves to include large institutional players for custody and loans (like Fidelity, etc)-that's a better idea...plus maybe selling all forks this Fall-Winter.
Basically...you don't have to sell. I keep saying this, but nobody seems to listen.
EDIT: I wonder when we will have 8% (on the way to above 15%) interest rates on 30-year again. Maybe in 5-10 years, unless CPI will start going up truly crazily.
It is extremely unlikely that we will ever have 30-year T rates above 2-3% ever again. The problem is the U.S. National Debt. At 8% rates, just the interest alone on the nation debt would be $2.2T /year, which would have to borrowed into existence just to pay it. 15% rate is roughly double that. The money printer would have to brrr into overdrive. Unsustainable. This would quickly cause world hyperinflation and a subsequent crack-up boom. It is more likely that rates will stay at near-zero indefinitely, perhaps even going negative. |
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1560
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Economy / Speculation / Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion
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on: January 16, 2021, 06:56:14 PM
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Bingo. The MSM talks about the Fed is still below their inflation target so much, that they've even got CEOs and CFOs fooled. The delusion can run deep. How do I know? My father is a lifelong CPA, with 2/3rds of his life spent as a CFO of various Corps. He still to this day tells me "There is no inflation right now." When I show him sites like Shadow Stats and chapwoodindex.com he just scoffs and laughs it off like it's all just conspiracy propaganda. Then I bring up all the assets in his life that have practically doubled in price in the last 10 years, of which there are many, and he gets quiet and says "Yeah but that's different." |
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