You would think an MIT grad and subsequent computer simulations modeler would've understood Bitcoin back in 2013.
I'm no MIT grad and I got it almost immediately back then.
Hell within a few days of research, I completely understood how groundbreaking a breakthrough it was, and how it would fundamentally change the financial world.
While that all makes sense, one must first actually stick their head in the rabbit hole before one can start to understand.
edit: 'tis one of my regrets that I did not give the rabbit hole more than a cursory glance at first sight. Oh well. C'est la guerre.
Huh, jbreher?
What's your rabbit hole story? You may have said. I cannot remember specifics.
You did not start buying BTC right away? At least small amounts? You may have sold too many too soon. I think that i heard you reveal something like that, previously.
I've said a little. Perhaps not a lot. I was made aware in 2010. I already had a huge revulsion for the tenets of partial reserve banking, so I was primed. But I was A Busy Guy. No time to look into a neckbeard curiosity that had 'little chance of panning out' (i.e., I walked past the rabbit hole and noticed it's presence, but did not stick my head in).
O.k. Well that is fair enough. I think that with anything, we might not appreciate the gravity or importance of whatever that thing is, because I can hardly even imagine trying to study bitcoin at any time between 2007 and 2013, I had way too many other things on my plate to juggle, and sometimes I am even surprised that I made it through those years with the various things that I was juggling through that period (not that bitcoin was really even around or an option in 2007 or 2008 - and surely, most normies - meaning non-technical/non cypherpunk folks -like myself- would not have even heard of bitcoin in 2009 or even 2010 for that matter).
Even at that, I was buying well before I registered hereupon. Ponderate upon that if you must.
Sure, that is a bit much to ponder, and I am not going to deny that you have much more of a technical (and software/computer specific) background than me, too. My profession was much more general and social sciency than your background... so there is that different angle that might make it somewhat difficult for me to ponder too much.
No, I've not sold a whole lot. 'Divestment phase' != 'Liquidating out for stinky fiat'. At least not in my reading.
Thanks for clarifying that, and I don't really want to go there with you in regards to how you might be divesting or liquidating, and seems that we may have been using the terms a wee bit differently.
We both likely agree that there are likely longer term problems of holding too much fiat, but I doubt that we would disagree that holding some fiat can be quite helpful for living in the "real world" including if we have real world living expenses, and yeah I heard you updated from your shitty van to a nicer one
(not that you are living in it.. hahahahaha... nothing wrong with that).. a couple years ago.. so that is great, those life pleasures cost monies.
I did ...lose a whole lot. In a boating accident couple of scammy scams. As said earlier, C'est la guerre.
I have had some decently BIG sized losses along the way, too, and of course, no one really likes losing money, but like you seem to be implying some of the losses might come with the territory, too.
I have probably been interacting with you since mid-to-late 2014.. perhaps early 2015, and seems that you had accumulated some BTC in Bitcoin's pre-2013 era.
Sure, maybe a lot of us do not accumulate as many BTC as we retroactively conclude that we should have, and of course, June 2011 would have given you a whole year to accumulate single digit BTC and then a bit more than another 1/2 year to acquire BTC in the teens (below $20).
Yup. Even after (significant) losses, my all-in cost for what I still hold is about $20 each.
I have a similar situation in terms of accounting for all or most of my losses, the amount of BTC price appreciation is still quite great, even if calculating all of the losses, even though the losses do bring up the cost per BTC - if attempting to make overall calculations.
Furthermore, I have found that sometimes the specifics can also get a little lost in the whole process of calculating, because for example, if there is a desire to calculate some costs and losses within a certain kind of category, then sometimes we might totally forget about some profits are losses that had already been totally accounted for and "written off" as compared with overall assets (and categories of assets) that we still might hold and be potentially juggling around from time to time.
By the way, I am no way trying to inquire about the size of your BTC stash because I hardly have any interest in comparing stash sizes or whatever or even proclaiming that I own more than a few BTC, but we must concede that it can make a whole hell of a lot of difference if guy might have acquired 500 BTC or more for $20 each or if a guy might be working with a stash of 10 or fewer BTC, which surely we should be able to imagine that amounts of BTC are more than just trivial amounts.
Both you and I likely recognize some newbies (or even trolls) coming into the WO thread and proclaiming their various trading strategies, and blah blah blah, they are selling it all and blah blah blah, and they are working with fractions of a BTC as their whole stash, and sure these days fractions of a BTC can add up to a lot of money, but some of those shittwats were coming into this thread in 2015 (when BTC prices were largely in the mid $200s for most of the year) and trading fractions of a BTC while proclaiming their BTC strategies as if they were working with some kind of meaningful bank.
So, sure, there could have been some selling too much too soon.
Not at all. I have sold ... a little. For a good price. Anyone else here claiming they sold some at $20250?
(yes, I know you are wedded to stamp's numbers. But GDAX went above 20250)
Get out of here.... when we are talking about stamp, we are referring to price movements and price dynamics and general reference shit like that...
So sure, I understand that the price went higher on some exchanges at the peak in 2017, and even in S.Korea they had some prices in the $30k arena.. and sure some people might have been able to get their dollars out of those higher priced areas.. so sure, it can be a bit of a fair disclosure to have sold some BTC towards the top and above the top and all of that .. but neither you nor I have been working like that, for the most part both of us have been attempting to practice some variation of incrementalism, but sure, maybe even an incrementalist is going to engage in some lump summing here and there along the way.
I doubt that we are competing against each other in that regard.
Bueller...?
... Bueller...?*
*Fun factoid: The guy who played that teacher -- Ben Stein -- used to be President Richard M Nixon's speechwriter.
Another factoid I let slip a while back: At the top of the market in late 2017, I sold enough to buy My Personal Lambotm.
I know about your mercedes or whatever it is. No problem. And, surely you are having some other pleasures along the way, too.
You know what, if you had put even any kind of decent stash in bitcoin at all and have average BTC prices of below $20-ish, then you should have no compunction at all about shaving off some BTC here and there along the way, unless you failed/refused to establish any kind of significant stash and maybe you only have less than 100 BTC, then you might be a bit more worried about shaving off some BTC along the way, here and there. Perhaps?
Some of us are well into the divestment phase.
Probably one of the first times that you mentioned that mostly "divestment phase" perspective of yourself.
Again, not at all. From the same time frame as above: I have already stated that I have
retired. Which means I need to fund my Lavish Lambo Lifestyle
tm* off my accumulated holdings. Hence, Divestment phase.
You are being a bit back and forth here... so you gotta admit that. I had heard that you quit your regular job a couple of years ago.. so anyhow, that still would not necessarily mean that you are "well into the divestment phase" of your BTC unless you choose to start to make such divestments.
People can retire from their regular JOBs, but that does not necessarily mean that they are immediately starting to draw into their BTC plan - so anyhow, you seem to be a bit all over the place in the way that you have been sharing some of these ideas.
All of a sudden, you want to hold ur lil selfie out as a kind of baller? Go figure?
I mean, if you can't connect 'retired from wage slave status' (even at a job I loved - and one upon which Bitcoin, computer networking, and pretty much any tech-touching field is utterly dependent upon my contributions to such) with 'divestment phase'? Well, then that's on you.
You can describe it how you like. Whatever.. it is getting to be a bit much and a bit scrambled in my thinking.
Of course, you do not need to go on some beach and detach yourself from the world, anyhow, there might NOT be any need to go too much into any kind of detail in regards to how you might be getting more involved in shitcoins or whatever area that you might be aiming to divert this discussion.
*(Rhetorical question - if it is well within your means, is the Lavish Lambo Lifestyletm actually ... lavish?)
You had not been a lavish kind of guy in the past. You were more of a practical kind of guy.. sure lavish here and there, but you hung onto your van for years and years, but now, you are wanting to hold ur lil selfie out as the lavish lambo kind of guy?
Don't get me wrong. I have no problems in changing lifestyles and all of that, but for some strange reason you seem like you are leaning towards wanting to sell something rather than merely discussing what you may have meant by all of a sudden being "well into divestment" when you were not seemingly in that stage just a few years ago.. and even stating that you were not planning to make any sudden changes.. blah blah blah..
Could be one of the reasons that you seem to have a decent amount of relative valuing of dollars rather than bitcoin?
How long have we known each other? If I valued USD more than Bitcoin, I'd have liquidated.
Fair enough. I may have phrased that accusation, a bit badly.
On the other hand, such a purported status would not seem to justify your seeming tendency to have been spending many years gambling with long shot bcash nonsenses.
So sue me. (I've got a pretty big war chest - you better be sure of your case).
You been taking litigation lessons from diptwats? Craig and Calvin.
Get the fuck out of here with your confrontation, nonsense.
No, I just think that a Bitcoin that has not been intentionally crippled by an insane, economically-ignorant restrictive production quota upon transaction capacity has more inherent value than one which has been so crippled. And that my thesis will be proven prescient come Blockalypse II. But you know this already.
Yes. I have heard your nonsense proclamations previously, which largely amount to bashing bitcoin and pumping your shitcoin... Not really interested in getting into those details.. .. and so you are not really saying anything new that needs to be addressed, are you?
You also know that I am not in the BCH camp. I was until they started adopting pages from the Core/Blockstream playbook, and started adding gratuitous protocol changes. At which point, the standard-bearer for satoshi's original design was advanced by BSV.
I could give less than two shits about your desire to distinguish one variant of bcash from another variant of bcash. They are both just differing variations of trash, and we need not attempt to further (and repeatedly) flesh out the details of any of that here
(even if there might be some new developments), do we?
The confirmed science and math that Satoshi didn't understand has to do with how poorly this system functions as a currency. We tried it for a few years. It doesn't work. It's only a bad speculative vehicle, which now people realize and have been dumping for 4 years. The project failed. Neat idea, but fractional reserve banking is clearly better based on all proven and confirmed science and math. I'm glad Satoshi tried this out, but now we know it doesn't work and we can go back to the way things are proven to work best.
Too bad Satoshi wasn't a smart guy like Craig Wright.
To be fair, for the entire interval of satoshi's public involvement, transaction volume never came anywhere near the (relatively very high level for the time) blocksize cap that he enacted under prodding from his most significant collaborator.
Plus, he explicitly explained exactly how trivial it would be to increase said blocksize cap such that transaction volume was never artificially throttled. Extending to exemplary code. To the eventual exasperation of those of us who would like the system to exceed such exceedingly tiny limits. As reliance on such economicallly braindead external exigencies is extreme folly.
In other words, pretty much long settled that BIG blocks are not the way to go,
'Settled'? Au contraire mon frere.
I mean, if you think that the wise decision is to outsource your strategy to the 100 IQ masses, knock yourself out.
No - at the point that we've not even started up the S-Curve inflection point of adoption, it is waaaaay too early to be calling any sort of eventual winner.
Oh gawd!!!!!
Looks like you are all riled up at the moment, and not planning on giving up on your shitcoin any time soon (which I had not anticipated you to be going in the giving up direction, anyhow). Currently, I am not really interested in repeating our battle in the direction of these various ongoing pie in the sky aspirations of yours and your shitcoin bed buddies.
BTC Dominance
Yep.
I was a bit struck too
(or maybe the better word choice would be "awed"?), by the jbreher strategic placement of that unimportant metric.
Poll
