What do people think about Bitcoin?

MSTR hitting all time high

 

I listened for about 10 minutes. Sure, they bring up.legit concerns. However for those 10 minutes, all they did was dunk all over bitcoin and offered very little insight. It was all negative talk with no steelmaning their speculation. Is this all they do? Sit around and b**** about things?
Bitcoin:
.10 speculative asset
1.00 speculative asset
10.00 speculative asset
100.00 speculative asset
1000.00 speculative asset
10,000.00 speculative asset
100,000.00 speculative asset

Do you know how much thought I put in penny stocks? Absolutely zero. I couldn't imagine spinning up a podcast to talk about how bad penny stocks are. A complete waste of time.

 

https://alternative.me/crypto/fear-and-greed-index/

Now
Extreme Greed

 

Eh I'm not sure it is vastly different than Bitcoin/crypto podcasts ranting about their nonsense without much insight either. It is a podcast, and that's what a lot of people like to do. It is definitely a crypto critical podcast, so it isn't like they're trying to be friendly towards those with favorable views about BTC/crypto. For a lot of folks (myself included), the whole idea behind BTC/crypto is klnda...dumb (plus a lot of other negative things). There's not really much to steelman at some point (especially after 15+ years of endless Internet debates have eroded the desire to steelman continuously). They're snarkier than I am, though probably not unlike a Nicholas Weaver or someone like that anyway (who they have talked to, along with various other critics and even some pro-crypto folks).

If the "legit concerns" they bring up aren't insight to you personally, fair enough. I figure "hey there's probably some substantial price manipulation going on here" would be insight to some folks given how much love there is for the magical number going up, though I guess as long as that number goes up, that's all that matters (and fortunately, that shouldn't be an issue with how things currently work).

If everyone equated BTC/crypto to penny stocks (instead of "THE BEST ASSET OF ALL-TIME!!!!"), they wouldn't spin up this podcast either. But if you steelman *their* position, it is pretty clear why they spend this time doing a podcast.

 

Lol this lady keeps short circuiting when trying to understand why you never sell your bitcoin.

You want to store your wealth in property the most resistant to entropy. Bitcoin is that property.

 

When do I cash out of this current run so I can buy another Porsche?
will get back in before the next halving..

 

74k. This is not financial advice .

 

Why is bitcoin now down in the high 50s? I have no sense for the timing of why it rises or falls.

 

Bitcoin is super sensitive to macro, in both directions.
Powell just said piss off with the rate cuts.

Next CPI print matters

 

I don't trust Trump to keep his word on anything. He doesn't know **** about Bitcoin or give a flying **** about digital property rights. He's desperately looking for a lane.

 

I think its less important whether goon boy does anything of substance if he gets elected. Its blindly obvious he is taking the opposite side of anything Biden touches. Bitcoiners are notorious for being single issue voters, however I am not sure how much energy this will really pickup.

Digital asset rights is starting to get attention in the election discussions. That is the signal.

 

This week was quietly very important (both good and bad) between FIT21 and the ETH ETF.

Biden has made a lot of antagonistic noise about crypto over the past couple of years but I think establishment Dems are realizing that their buddies in the private sector want more liberal policies (i.e. they got a taste of life beyond bonds and t-bills) and so here we are.

It seems like for every foot we move Bitcoin forward all this shitcoinery inevitably tags along for a couple of inches. That's just the price we have to pay it seems.

Once one of the major banks gets rugged Washington will eventually figure out what we already know. Bitcoin is the only pure, ethical commodity in this space.