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reddit-r-bitcoin-data-for-jun-2022

like 2

1comment

iedr8x1

2s3qj

bitcoin

https://old.reddit.com/r/Bitcoin/comments/vo066b/daily_discussion_june_30_2022/iedr8x1/

Welcome to the Thunderdome!

1comment

iedr8iw

2s3qj

bitcoin

https://old.reddit.com/r/Bitcoin/comments/vog2c1/if_bitcoin_were_to_consistently_rise_in_value/iedr8iw/

1. Virtually all productive assets have counterparty risks. In your example of buying real estate, I could get stuck with a deadbeat tenant, or the government can pass new laws about how much I can charge for rent. If annual rent increases get capped at 10% and inflation is running at 15% I'd be losing money holding the property. Then you have eminent domain laws, property taxes...etc. Self-custody bitcoin has zero. 2. It's wildly volatile in a short-term time frame. But when you zoom out on a log chart it's up and to the right since 2010. That said, I do hold lots of other assets. And bitcoin is certainly not for everyone, you have to be able to stomach the VOL and not panic sell. But for me it's worked out very well, I started by buying an amount I would have been willing to put on a craps table at the time and I have an automated small portion of my income that gets converted every payday. What started as a tiny part of my net worth has exploded over the years. You might find this write-up by a seasoned bond trader interesting. https://rockstarinnercircle.com/foss/

1comment

iedr75w

2s3qj

bitcoin

https://old.reddit.com/r/Bitcoin/comments/vojyfh/buy_the_dip_right/iedr75w/

I wonder what the really going on here... I see only 3 buys…so did OP just start dollar cost averaging? Or is the OP just making look like they are DCA like a king, but actually their just fomoing and will be out of cash after the next 4 dips…hmmm🧐

1comment

iedr6aw

2s3qj

bitcoin

https://old.reddit.com/r/Bitcoin/comments/vohluz/blockfi_is_bankrupt/iedr6aw/

No it's not

1comment

iedr5cg

2s3qj

bitcoin

https://old.reddit.com/r/Bitcoin/comments/vog2c1/if_bitcoin_were_to_consistently_rise_in_value/iedr5cg/

Many people borrow money, would you borrow in BTC (deflationary currency)? If you borrow, you effectively short the currency so it needs to be inflationary so you don't have to pay more in you value generation. If you borrowed 100000 BTC (or possibly more) for building your house in 2010, how much you would have to repay now?

1comment

iedr4dw

2s3qj

bitcoin

https://old.reddit.com/r/Bitcoin/comments/vohd5t/this_is_what_you_can_buy_when_you_hodl_bitcoin/iedr4dw/

Congrats my guy

1comment

iedr3r5

2s3qj

bitcoin

https://old.reddit.com/r/Bitcoin/comments/vohd5t/this_is_what_you_can_buy_when_you_hodl_bitcoin/iedr3r5/

Was not expecting this reply, I chuckled. Thanks ✌🏻

1comment

iedr1vp

2s3qj

bitcoin

https://old.reddit.com/r/Bitcoin/comments/vo066b/daily_discussion_june_30_2022/iedr1vp/

[removed]

1comment

iedr151

2s3qj

bitcoin

https://old.reddit.com/r/Bitcoin/comments/voaprz/how_does_he_intend_to_enforce_this/iedr151/

Go watch the interviews this guy has done. He doesn't even understand the Bitcoin network.

1comment

iedr0kz

2s3qj

bitcoin

https://old.reddit.com/r/Bitcoin/comments/vohd5t/this_is_what_you_can_buy_when_you_hodl_bitcoin/iedr0kz/

Beautiful house. Congrats on the purchase!!

1comment

iedqzeh

2s3qj

bitcoin

https://old.reddit.com/r/Bitcoin/comments/voczhz/fed_chair_jerome_powell_we_now_understand_how/iedqzeh/

I think inflation is the best signal to invest usdt in bitcoin lol.

1comment

iedqyr9

2s3qj

bitcoin

https://old.reddit.com/r/Bitcoin/comments/vog2c1/if_bitcoin_were_to_consistently_rise_in_value/iedqyr9/

Yes. Distribution is important

1comment

iedqyoq

2s3qj

bitcoin

https://old.reddit.com/r/Bitcoin/comments/vo066b/daily_discussion_june_30_2022/iedqyoq/

All I ever heard was that we would end up here at the end of the bull run and to be ready for winter with a blanket, cocoa, and enough dry wood to stay warm until spring. Whoever told you Bitcoin isn’t volatile never looked at the chart.

1comment

iedqxmw

2s3qj

bitcoin

https://old.reddit.com/r/Bitcoin/comments/vno0eg/describe_bitcoin_in_12_sentences_in_the_most/iedqxmw/

We're at the point where it ballooned up to 64, and now it's 20 at best... so you're saying it's time to buy? It increased my investment by 40%, and shortly after got my testicles krushed into something one would find coming out of an olive press. What would your suggestion be?

1comment

iedqx0x

2s3qj

bitcoin

https://old.reddit.com/r/Bitcoin/comments/vo7cek/hello_bitcoiners_my_first_post_would_come_with_a/iedqx0x/

You can use the trezor suite to broadcast your transactions, if you like. But then trezor knows your wallet address and balances. Same with electrum also if you run it without running your own node. But running your own node is genuine financial sovereignty. You rely on yourself and yourself alone to interact with the network.

1comment

iedqvwt

2s3qj

bitcoin

https://old.reddit.com/r/Bitcoin/comments/vo0kv1/buttcoiners_have_been_waiting_since_2018_to_feel/iedqvwt/

He is just a lose in real life for sure, he wanted to see himself getting rich.

1comment

iedqt0u

2s3qj

bitcoin

https://old.reddit.com/r/Bitcoin/comments/vo0kv1/buttcoiners_have_been_waiting_since_2018_to_feel/iedqt0u/

I am super glad that I never sold like this man and this guys is just crying about it like a bitch, we are okay without these people in this subreddit, feels good.

1comment

iedqsbk

2s3qj

bitcoin

https://old.reddit.com/r/Bitcoin/comments/vog2c1/if_bitcoin_were_to_consistently_rise_in_value/iedqsbk/

[removed]

1comment

iedqs1p

2s3qj

bitcoin

https://old.reddit.com/r/Bitcoin/comments/vojctm/pentagon_finds_concerning_vulnerabilities_on/iedqs1p/

So Bitcoin is actually decentralized? It’s not easily manipulated by one person ie a CEO of Tesla announcing they’re no longer accepting it as payment, tanking it’s value? Among other things

1comment

iedqrue

2s3qj

bitcoin

https://old.reddit.com/r/Bitcoin/comments/vohluz/blockfi_is_bankrupt/iedqrue/

Tree fiddy

1comment

iedqrcr

2s3qj

bitcoin

https://old.reddit.com/r/Bitcoin/comments/vog2c1/if_bitcoin_were_to_consistently_rise_in_value/iedqrcr/

All currency and all commodities have a point where they are traded for something else of value. I personally am playing the super long game in a way that doesn’t risk my other ways of planning for old age. And just like my real estate or my 401k or other investments. It will be worth while for me to trade them in for something I need in the future. We all just hope it goes over the moon before we need to :)

1comment

iedqqpa

2s3qj

bitcoin

https://old.reddit.com/r/Bitcoin/comments/vog2c1/if_bitcoin_were_to_consistently_rise_in_value/iedqqpa/

He's not after answers or understanding. Every post of his is a rebuttal along the lines of " you're wrong. The world doesn't work that way, you don't understand economics". He's completely failing to grasp that moving to a Bitcoin standard changes everything he understands to be true.

1comment

iedqqc5

2s3qj

bitcoin

https://old.reddit.com/r/Bitcoin/comments/vo066b/daily_discussion_june_30_2022/iedqqc5/

I'm leaning more towards the never ending posts on this sub wondering if we have hit the bear market bottom yet.

1comment

iedqpnd

2s3qj

bitcoin

https://old.reddit.com/r/Bitcoin/comments/vog2c1/if_bitcoin_were_to_consistently_rise_in_value/iedqpnd/

but how will it transition from asset to currency? What incentive structures exist to ensure that transition

1comment

iedqovk

2s3qj

bitcoin

https://old.reddit.com/r/Bitcoin/comments/vno0eg/describe_bitcoin_in_12_sentences_in_the_most/iedqovk/

I hope it will stay like this in the future, that's all I want.

1comment

iedqnzm

2s3qj

bitcoin

https://old.reddit.com/r/Bitcoin/comments/vobty3/this_is_exciting_bis_allows_banks_to_hold_upto_1/iedqnzm/

Represents banks getting their greedy corrupt mitts on BTC and utilizing it as a collateralized asset to drive markets in their favor. While I recognize in the end all will need to own it, I still don't like banks hodling it. Gives me an unnerving feeling.

1comment

iedqmlv

2s3qj

bitcoin

https://old.reddit.com/r/Bitcoin/comments/vo9egt/would_you_rather_own_bitcoin_outrightly_or/iedqmlv/

Whatever. They are both assets. Highly correlated assets - nearly 1:1 in fact. The difference is that both have their own risk of ruin. One is misplacing or being scammed of your cold storage wallet, the other is institutional, criminal, systemic risk of the ETF. I'm not sure it's correct to say one is categorically safer than the other. I actually don't really like self-custodianship of crypto and I feel like people here have the illusion of control, despite the risk of making a mistake being real. ETF not sufficiently regulated for me to want to invest there but, idk, eventually I'd probably rather some institution hold it than myself

1comment

iedqlcs

2s3qj

bitcoin

https://old.reddit.com/r/Bitcoin/comments/vnuhx1/breaking_sec_rejects_grayscales_proposal_to/iedqlcs/

This 67 y/o grandpa ("Pops") has his BTC keys in a hardware wallet.

1comment

iedql1u

2s3qj

bitcoin

https://old.reddit.com/r/Bitcoin/comments/vo066b/daily_discussion_june_30_2022/iedql1u/

r/Bitcoin/about/rules Read them.

1comment

iedqkre

2s3qj

bitcoin

https://old.reddit.com/r/Bitcoin/comments/vog2c1/if_bitcoin_were_to_consistently_rise_in_value/iedqkre/

I'm spending some of my BTC value in dollars (approximately 3% of my stack) without selling a single Satoshi using a decentralised protocol on a Bitcoin sidechain. I believe it's essential to utilise Bitcoin in projects (albeit on a side-chain) that can improve its overall utility, which is a bit of a shift in my mentality from years gone by.

1comment

iedqja6

2s3qj

bitcoin

https://old.reddit.com/r/Bitcoin/comments/voeoyj/samsungs_new_3nm_chips_to_hit_bitcoin_miners_first/iedqja6/

[https://twitter.com/hashrateindex/status/1542170766602432517](https://twitter.com/hashrateindex/status/1542170766602432517) [https://www.thelec.net/news/articleView.html?idxno=4096](https://www.thelec.net/news/articleView.html?idxno=4096) "The first customer for the process will be the Chinese application-specific IC firm PanSemi, which makes chips used in Bitcoin mining, sources said." PanSemi is a subsidiary of MicroBT.

1comment

iedqhlv

2s3qj

bitcoin

https://old.reddit.com/r/Bitcoin/comments/vokeqi/grayscale_doesnt_care_about_the_investor/iedqhlv/

I think you over estimate the funding the SEC has. If anything they are severely underfunded for what they are to enforce.

1comment

iedqh8r

2s3qj

bitcoin

https://old.reddit.com/r/Bitcoin/comments/vo0kv1/buttcoiners_have_been_waiting_since_2018_to_feel/iedqh8r/

This man is just fucked up and that's the only thing we can say.

1comment

iedqh5x

2s3qj

bitcoin

https://old.reddit.com/r/Bitcoin/comments/vohd5t/this_is_what_you_can_buy_when_you_hodl_bitcoin/iedqh5x/

A pat for your back good sir.

1comment

iedqg76

2s3qj

bitcoin

https://old.reddit.com/r/Bitcoin/comments/voc52v/explaining_bitcoin_when_it_was_about_20/iedqg76/

Wish I had known about it then **Sheds tiny tear

1comment

iedqf1m

2s3qj

bitcoin

https://old.reddit.com/r/Bitcoin/comments/vo9egt/would_you_rather_own_bitcoin_outrightly_or/iedqf1m/

Not your keys, not your bitcoin.

1comment

iedqe76

2s3qj

bitcoin

https://old.reddit.com/r/Bitcoin/comments/vo066b/daily_discussion_june_30_2022/iedqe76/

Good question. Does anyone here know?

1comment

iedqd0v

2s3qj

bitcoin

https://old.reddit.com/r/Bitcoin/comments/vnrbx5/arent_btc_whales_kinda_inadvertently_making/iedqd0v/

I was being facetious. Obviously, DCA works well but the fact is BTC is being manipulated and they are trying to figure out how to manipulate it more. The more they manipulate it the more opportunity I have to acquire more BTC than I otherwise would have been able to acquire before. It's only logical to consider this when purchasing anything. Like I won't buy a house at the top of the bubble if I know it's the top, then wait to buy another at the bottom to DCA my position. I'll wait for what I think is the bottom. Or should I just buy blindly? That seems illogical.

1comment

iedqchc

2s3qj

bitcoin

https://old.reddit.com/r/Bitcoin/comments/voeoyj/samsungs_new_3nm_chips_to_hit_bitcoin_miners_first/iedqchc/

Anyone have have a link to either of the sources listed, "The Elec" and "The Hashrate Index"? I don't know if I'm just old and grumpy, but WTF is this? I could make a random post saying "The Fart" just listed Fartcoin is going use Samsung's 3nm process to mine Farts and it would be just as useful as this.

1comment

iedqbop

2s3qj

bitcoin

https://old.reddit.com/r/Bitcoin/comments/vo066b/daily_discussion_june_30_2022/iedqbop/

[removed]

1comment

iedqarl

2s3qj

bitcoin

https://old.reddit.com/r/Bitcoin/comments/vnsc0a/while_everyone_was_looking_at_the_price_i_saw_the/iedqarl/

Two weeks is excessive. 1 week is fine.

1comment

iedqao7

2s3qj

bitcoin

https://old.reddit.com/r/Bitcoin/comments/vnwwgf/grayscale_sues_sec_over_bitcoin_etf_application/iedqao7/

Sure, sorry if my statement implied that but I didn’t mean to. Edit: All a dog and pony show until tether goes away *at a minimum and among other things*.

1comment

iedqa8u

2s3qj

bitcoin

https://old.reddit.com/r/Bitcoin/comments/voc52v/explaining_bitcoin_when_it_was_about_20/iedqa8u/

shes a you tuber, but i can't remeber her channel name

1comment

iedq8hu

2s3qj

bitcoin

https://old.reddit.com/r/Bitcoin/comments/vog2c1/if_bitcoin_were_to_consistently_rise_in_value/iedq8hu/

Because what would be the point of investing and getting rich off of bitcoin one day...if you never sold any. It doesn't make sense you might as well be broke. If you spend 0% of it ever...then what's the point of having your money tied into it? At some point you are going to sell some and enjoy being rich. And if you don't, your kids will inherit it and then one day your spoiled grandkids will squander all their bitcoin inheritance. But at some point, your bitcoin will be spent.

1comment

iedq8en

2s3qj

bitcoin

https://old.reddit.com/r/Bitcoin/comments/vo066b/daily_discussion_june_30_2022/iedq8en/

Can't wait to see all the post of "I wish I bought at 20k" a year from now

1comment

iedq6h7

2s3qj

bitcoin

https://old.reddit.com/r/Bitcoin/comments/vohluz/blockfi_is_bankrupt/iedq6h7/

I don’t have an opinion. I once did a ton of research and it seemed to me back then that everyone preferred ledger for some reason. Whatever you get don’t get it on Amazon. Get direct from their website.

1comment

iedq63b

2s3qj

bitcoin

https://old.reddit.com/r/Bitcoin/comments/voaprz/how_does_he_intend_to_enforce_this/iedq63b/

Guy lost his keys? Pardon the punny language, but if you f*ck around then you get f*cked. He shouldn't have lost his keys. Boohoo.

1comment

iedq5kj

2s3qj

bitcoin

https://old.reddit.com/r/Bitcoin/comments/vo066b/daily_discussion_june_30_2022/iedq5kj/

Not just the woman, many people are crying for it. This is weird.

1comment

iedq53s

2s3qj

bitcoin

https://old.reddit.com/r/Bitcoin/comments/vog2c1/if_bitcoin_were_to_consistently_rise_in_value/iedq53s/

Spread the wealth, my good man!

1comment

iedq4wa

2s3qj

bitcoin

https://old.reddit.com/r/Bitcoin/comments/vnsc0a/while_everyone_was_looking_at_the_price_i_saw_the/iedq4wa/

Even if this is true, nobody is going to be paid per minute or hour. It is unnecessary.

1comment

iedq2le

2s3qj

bitcoin

https://old.reddit.com/r/Bitcoin/comments/vo8qtn/bitcoin_in_2035_swan_bitcoin_ceo_on_lightning/iedq2le/

[deleted]

1comment

iedq1v8

2s3qj

bitcoin

https://old.reddit.com/r/Bitcoin/comments/vohluz/blockfi_is_bankrupt/iedq1v8/

What's your opinion on Ledger?

1comment

iedpzq7

2s3qj

bitcoin

https://old.reddit.com/r/Bitcoin/comments/vog2c1/if_bitcoin_were_to_consistently_rise_in_value/iedpzq7/

Right. That's not the same thing as saying Bitcoin's value is as a currency.

1comment

iedpyqy

2s3qj

bitcoin

https://old.reddit.com/r/Bitcoin/comments/voczhz/fed_chair_jerome_powell_we_now_understand_how/iedpyqy/

Great Supine Protoplasmic Invertebrate Jellies! https://web.archive.org/web/20220504022033/https://twitter.com/RudyHavenstein/status/1499184359215042561

1comment

iedpwkx

2s3qj

bitcoin

https://old.reddit.com/r/Bitcoin/comments/vog2c1/if_bitcoin_were_to_consistently_rise_in_value/iedpwkx/

Exactly this. If you have a currency that devalues 7% a year then it influences people to spend what they have. If you have a currency that doesn’t deflate then people make more rational choices as they do not have their wealth destroyed through delaying any spending decisions.

1comment

iedpwe0

2s3qj

bitcoin

https://old.reddit.com/r/Bitcoin/comments/vog2c1/if_bitcoin_were_to_consistently_rise_in_value/iedpwe0/

Hypothetically, if you have all your wealth in btc, what does it matter how you pay your rent? Whether you pay directly with btc or you first exchange a small amount to usd and then pay? Either way you lost some of your wealth to rent. It doesn’t matter what you pay with. It does matter where you keep the wealth that you’re not currently using as payment.

1comment

iedpszl

2s3qj

bitcoin

https://old.reddit.com/r/Bitcoin/comments/vo0kv1/buttcoiners_have_been_waiting_since_2018_to_feel/iedpszl/

We have to just ignore these fuckers at the end of the day.

1comment

iedpswn

2s3qj

bitcoin

https://old.reddit.com/r/Bitcoin/comments/vog2c1/if_bitcoin_were_to_consistently_rise_in_value/iedpswn/

The field we all know is not able to sustain the growth of quality crops ad infinitum. You must burn the good crops down in order to replenish the soil's nutrients. Even this does not fully replenish the field, and yield and quality will reduce without further action. The good farmer knows that really, he needs to leave it the hell alone to allow it to recover in a natural way. The ideas that we are following are flawed and we need to turn away from trying to get that field to produce ever more, because now it's just churning out shit that doesn't benefit us at all.

1comment

iedpstk

2s3qj

bitcoin

https://old.reddit.com/r/Bitcoin/comments/voaprz/how_does_he_intend_to_enforce_this/iedpstk/

same way he enforces being satoshi

1comment

iedps3r

2s3qj

bitcoin

https://old.reddit.com/r/Bitcoin/comments/vog2c1/if_bitcoin_were_to_consistently_rise_in_value/iedps3r/

Its not necessarily going to increase as rapidly as it is currently. As time goes on the price will plateau more with less volatility. But until then you can hoard it until its worth enough for you to part with comfortably.

1comment

iedpojv

2s3qj

bitcoin

https://old.reddit.com/r/Bitcoin/comments/vog2c1/if_bitcoin_were_to_consistently_rise_in_value/iedpojv/

This is what is suggested would happen with scary terms such as "deflationary death spiral" but thus far Bitcoin has proven this incorrect. During period of high deflation(appreciation) tx velocity tends to increase and merchant processors actually see an increase in spending for goods and services and charitable giving in Bitcoin. This is believed to be caused by the feeling of newfound wealth(because they are wealthier) eventually overrides their desire to "hoard" (when did savings become a negative thing?) their Bitcoin. Bitcoin is already testing some economic theories and proving them somewhat inaccurate but the data gathering is far from over and we all have a lot to learn . I personally suspect that what matters for a viable currency besides these other properties discussed here https://www.reddit.com/r/BitcoinBeginners/comments/gnzeeo/will_bitcoin_ever_be_adopted_by_the_general_public/frcry8f/ Is stability and thus either low and predictable inflation or low and predictable deflation (1-4%) can both be suitable. As Bitcoins market cap grows and monetary inflation drops it appears that we will likely see very low deflation (occasionally people losing some coins) which is perfectly fine because the market will factor those expectations into consideration for loans and debt. ________________________________________ I personally prefer slight deflation for these reasons : 1) Encourages people to invest in things they really need instead of unnecessary fluff and short term desires which is good for society and the environment 2) encourages more savings instead of debt slavery which removes choice, confidence and power away from individuals 3) keeps fiat currency in check where too much inflation will cause more capital flight to Bitcoin and prevents corrupt governments from abusing the backdoor tax of inflation 4) Reduces the negative cantillon effect of fiat by removing some of the control over currency from a small group of people that is in part due to fiat being inflationary https://fee.org/articles/the-cantillon-effect-because-of-inflation-we-re-financing-the-financiers/

1comment

iedpn99

2s3qj

bitcoin

https://old.reddit.com/r/Bitcoin/comments/vog2c1/if_bitcoin_were_to_consistently_rise_in_value/iedpn99/

also, if you believe that BTC will go up - nothing is stopping you from shorting fiat and buy BTC. Thats lambos on steroids.

1comment

iedpmf7

2s3qj

bitcoin

https://old.reddit.com/r/Bitcoin/comments/vog2c1/if_bitcoin_were_to_consistently_rise_in_value/iedpmf7/

Eventually you get to a point where if you KNOW your holdings will go up steadily, you can more easily budget your life and still spend along the way. You may second guess things that have hollow value, but you'll likely still spend that money on necessities and things you value. There would be less incentive to buy crap items like cheaply made crap, when you can ask yourself if that frying pan is really worth $25 only to be replaced in 2 years vs that $70 one that will NEVER go bad. More emphasis will be placed on quality manufacturing and longevity of products. And companies might slow down their planned obsolescence if they know they can capture wealth and tuck it away and/or invest properly.

1comment

iedpl5f

2s3qj

bitcoin

https://old.reddit.com/r/Bitcoin/comments/voc52v/explaining_bitcoin_when_it_was_about_20/iedpl5f/

Did she take her own advice?

1comment

iedpkcb

2s3qj

bitcoin

https://old.reddit.com/r/Bitcoin/comments/vojyfh/buy_the_dip_right/iedpkcb/

This human engages in coitus, yo.

1comment

iedpk1a

2s3qj

bitcoin

https://old.reddit.com/r/Bitcoin/comments/vohluz/blockfi_is_bankrupt/iedpk1a/

I like coldcard or trezor.

1comment

iedpiv0

2s3qj

bitcoin

https://old.reddit.com/r/Bitcoin/comments/vo0kv1/buttcoiners_have_been_waiting_since_2018_to_feel/iedpiv0/

That's right, we are really good without their shitty discussion.

1comment

iedpit1

2s3qj

bitcoin

https://old.reddit.com/r/Bitcoin/comments/vokvjy/euregulierung_zur_registrierung_von_wallets_kommt/iedpit1/

Your submission has been flagged for removal because it is not in english. Please consider submitting a translated version, or posting to a language specific bitcoin subreddit. Thank you. ^^I ^^am ^^a ^^bot ^^and ^^cannot ^^respond. ^^Please ^^contact ^^r/Bitcoin ^^moderators [^^directly ^^via ^^mod ^^mail](https://www.reddit.com/message/compose?to=%2Fr%2FBitcoin) ^^if ^^you ^^have ^^questions.

1comment

iedph5l

2s3qj

bitcoin

https://old.reddit.com/r/Bitcoin/comments/vohluz/blockfi_is_bankrupt/iedph5l/

What cold wallet do you use?

1comment

iedpgz4

2s3qj

bitcoin

https://old.reddit.com/r/Bitcoin/comments/vo8na0/tell_me_we_have_no_reason_for_btc/iedpgz4/

Underrated.

1comment

iedpgag

2s3qj

bitcoin

https://old.reddit.com/r/Bitcoin/comments/vog2c1/if_bitcoin_were_to_consistently_rise_in_value/iedpgag/

Good question…one I’ve often contemplated. A deflating currency would create slow velocity. In other words, one would make necessary purchases, but would highly scrutinize every unnecessary purchase. Sure, people would still enjoy themselves, but society would spend a lot less. People would be more frugal. Which means, the economy would be a lot slower.

1comment

iedpeto

2s3qj

bitcoin

https://old.reddit.com/r/Bitcoin/comments/vo9egt/would_you_rather_own_bitcoin_outrightly_or/iedpeto/

Khtasss

1comment

iedpdzb

2s3qj

bitcoin

https://old.reddit.com/r/Bitcoin/comments/vog2c1/if_bitcoin_were_to_consistently_rise_in_value/iedpdzb/

well yes, you die eventually. So you borrow money to buy things until you die (atleast many do). Not hording gold, btc or anything that is worthless in your life. You SHORT FIAT to get things you enjoy and pay inflating debt with your work (assuming you get pay-raise sometimes, if not you don't have anything to sell and can't actually demand pay-raise...) So instead of sitting on pile of gold/btc/stocks when you die, you actually live on shorting fiat... When bank run comes? Wow, ok - you are in debt so technically, you don't care - you don't have any money in bank, bank has money in your pocket.

1comment

iedpdkw

2s3qj

bitcoin

https://old.reddit.com/r/Bitcoin/comments/vo2r6u/puppet_masters/iedpdkw/

They are NOT INCOMPETENT They are MALICIOUS

1comment

iedpchg

2s3qj

bitcoin

https://old.reddit.com/r/Bitcoin/comments/vog2c1/if_bitcoin_were_to_consistently_rise_in_value/iedpchg/

What's the problem with an economic slowdown? Maybe this idea of continuous growth is BS.

1comment

iedp9la

2s3qj

bitcoin

https://old.reddit.com/r/Bitcoin/comments/vog2c1/if_bitcoin_were_to_consistently_rise_in_value/iedp9la/

>But money isn’t meant to hold. It’s meant to spend Who gets to decide that? Mainstream economists have come up with these notions of what money is "supposed to be", or what is the "correct way" to handle it. I entirely reject these notions of what I'm supposed to do with my money and I don't recognize their authority over deciding what spending habits the population should have. They have all these ideas about what is money and it's their business when doing their economic theory whatever, but they should leave it at that, only within their academic studies, not deciding policies. It's only the everyday people that have the moral right to collectively decide what money is and how it should behave in real life. And if people want money to be something meant to be held and only occasionally spent, that's perfectly fine. And believe me, we know people have been hoarding money (to the best of their abilities) since we have written history, so I guess that's that. >If shops start taking ishares indexes tomorrow; why wouldn’t that work? If that’s so superior, why hasn’t that happened yet? It probably wouldn't work because of reasons entirely unrelated to the nature of money. It would be impractical because there would have to be fast mechanisms of ownership verification, fraud detection, frictionless transfer mechanisms etc. Mostly technical stuff. These are not issues that plague Bitcoin, so it's not relevant in this context. But otherwise, yes, stocks and stuff would be capable of acting like currencies to a certain extent. It hasn't happened because those unique practical issues actually exist.

1comment

iedp81b

2s3qj

bitcoin

https://old.reddit.com/r/Bitcoin/comments/vo9plp/video_gbtc_grayscale_bitcoin_trust_sues_the_sec/iedp81b/

I thought it was that they want exchanges to be honest about how many bitcoin they hold vs their customers.

1comment

iedp82m

2s3qj

bitcoin

https://old.reddit.com/r/Bitcoin/comments/vojyfh/buy_the_dip_right/iedp82m/

[removed]

1comment

iedp7ld

2s3qj

bitcoin

https://old.reddit.com/r/Bitcoin/comments/vofdhj/right_now_the_us_dollar_is_winning_and_btc_is/iedp7ld/

And I'm sure $1 will eventually be worth so little we won't print it. I'm not sure how that implies the currency has collapsed, though.

1comment

iedp7aq

2s3qj

bitcoin

https://old.reddit.com/r/Bitcoin/comments/vog2c1/if_bitcoin_were_to_consistently_rise_in_value/iedp7aq/

People will sell it to get money. No one will hold it forever. And you never know how high it can go so people will be selling it at certain price thinking that it's the top.

1comment

iedp6nh

2s3qj

bitcoin

https://old.reddit.com/r/Bitcoin/comments/vnh2ol/after_6_months_of_dcaing_part_of_my_pay_into/iedp6nh/

Man just taking all the profit with it, we are happy to see this.

1comment

iedp6hz

2s3qj

bitcoin

https://old.reddit.com/r/Bitcoin/comments/vo0kv1/buttcoiners_have_been_waiting_since_2018_to_feel/iedp6hz/

> It's not controversial I just got the notification for this comment, yet it was posted 9 hours ago. Does that tell you something?

1comment

iedp5xu

2s3qj

bitcoin

https://old.reddit.com/r/Bitcoin/comments/vojyfh/buy_the_dip_right/iedp5xu/

[removed]

1comment

iedp4w9

2s3qj

bitcoin

https://old.reddit.com/r/Bitcoin/comments/vnrbx5/arent_btc_whales_kinda_inadvertently_making/iedp4w9/

That's not the point of holding bitcoin according to most here! You're a speculator then, looking to cash in fiat. Traitor /s

1comment

iedp4j1

2s3qj

bitcoin

https://old.reddit.com/r/Bitcoin/comments/vojyfh/buy_the_dip_right/iedp4j1/

[removed]

1comment

iedp0lq

2s3qj

bitcoin

https://old.reddit.com/r/Bitcoin/comments/vog2c1/if_bitcoin_were_to_consistently_rise_in_value/iedp0lq/

The difficulty to produce something gives it scarcity and so retains value. If it cost you $1 to mine a kilo of gold and that kilo was worth $1000, then you will mine as much gold as possible until Gold is worth almost $1. Now let’s say it costs $1100 to produce a kilo of gold worth $1000. Are you going to mine more gold? No, it’s not worth your effort. So now you have a fixed supply of Gold that retains its value. Extending further: If more people want Gold then it’s price will go up. If it goes up above $1100 then there is again an incentive to mine more Gold. If the price appreciated significantly to $2000, then there would be a frantic effort to profit and produce more and more until the value is again close to the cost of mining. Now take Bitcoin. It is difficult to mine Bitcoin, you cannot produce a whole bunch of it whenever you want to. If the price of Bitcoin goes to $100,000,000 then it will still have an inflation rate in supply of ~1% a year. If it goes to $100 then it will have an inflation rate of ~1% a year. So it remains as scarce as ever, more so than any other asset you can buy. Every other asset will have more produced as its price increases. With regards to USD it is extremely cheap and easy for the government to produce more USD, so it has a continuous pressure to produce more whenever more money is required. Producing more devalues currency as there’s much more of it floating around in the ecosystem.

1comment

iedoz2n

2s3qj

bitcoin

https://old.reddit.com/r/Bitcoin/comments/vo066b/daily_discussion_june_30_2022/iedoz2n/

Are you fucking kidding?

1comment

iedowvk

2s3qj

bitcoin

https://old.reddit.com/r/Bitcoin/comments/vokvjy/euregulierung_zur_registrierung_von_wallets_kommt/iedowvk/

[removed]

1comment

iedoucv

2s3qj

bitcoin

https://old.reddit.com/r/Bitcoin/comments/vog2c1/if_bitcoin_were_to_consistently_rise_in_value/iedoucv/

Nah. I want to be rewarded for saving extra while surviving and spending what I need to. Flip your question backwards and imagine that the USD values of inflation don’t take true societal amounts into account. Removing basic bottom Maslow’s needs from an ‘inflation rate’ is cheating. To start, USD is nowhere close to 2-3% when taking into account food that is not already heavily subsidized by the gov. Id be happy to dive into any other sector with this same example.

1comment

iedot5i

2s3qj

bitcoin

https://old.reddit.com/r/Bitcoin/comments/voj4c0/is_bitcoin_antigovernment/iedot5i/

This is spot on and concise. Bitcoin doesn’t care. A lot of people choose bitcoin because of the freedom it provides away from the government spending and money printing.

1comment

iedospj

2s3qj

bitcoin

https://old.reddit.com/r/Bitcoin/comments/vo0kv1/buttcoiners_have_been_waiting_since_2018_to_feel/iedospj/

They have to make sure how to clear things up for now.

1comment

iedos6y

2s3qj

bitcoin

https://old.reddit.com/r/Bitcoin/comments/vo9egt/would_you_rather_own_bitcoin_outrightly_or/iedos6y/

outrightly of course. The only way to truly own bitcoin.

1comment

iedorvj

2s3qj

bitcoin

https://old.reddit.com/r/Bitcoin/comments/vohluz/blockfi_is_bankrupt/iedorvj/

That’s a total cop out. Try with a tiny amount first to gain confidence. It’s stupidly easy. I was once scared too. It’s beyond easy.

1comment

iedoqe8

2s3qj

bitcoin

https://old.reddit.com/r/Bitcoin/comments/vo0kv1/buttcoiners_have_been_waiting_since_2018_to_feel/iedoqe8/

I hope one day, they will just admit that they are wrong.

1comment

iedoprg

2s3qj

bitcoin

https://old.reddit.com/r/Bitcoin/comments/vohluz/blockfi_is_bankrupt/iedoprg/

[CEO says it himself](https://twitter.com/BlockFiZac/status/1542582904110317568?t=S0bu3Ci7GL2T8PUq1Ud6Rw&s=19)

1comment

iedophm

2s3qj

bitcoin

https://old.reddit.com/r/Bitcoin/comments/vog2c1/if_bitcoin_were_to_consistently_rise_in_value/iedophm/

You would sell Bitcoin if you could gain value from another investment (getting an education, becoming an entrepreneur, owning other assets).

1comment

iedoor0

2s3qj

bitcoin

https://old.reddit.com/r/Bitcoin/comments/vojyfh/buy_the_dip_right/iedoor0/

*guy/girl

1comment

iedoo8g

2s3qj

bitcoin

https://old.reddit.com/r/Bitcoin/comments/vohluz/blockfi_is_bankrupt/iedoo8g/

[deleted]

1comment

iedolz9

2s3qj

bitcoin

https://old.reddit.com/r/Bitcoin/comments/vnmjwe/bitcoin_fixes_government/iedolz9/

Hmmmm. Good point, I suppose.

1comment

iedolls

2s3qj

bitcoin

https://old.reddit.com/r/Bitcoin/comments/vog2c1/if_bitcoin_were_to_consistently_rise_in_value/iedolls/

Just from reading this I’d say the idea would be you hold all your savings in Btc which increases and you spend for the same reason you spend now, to live