This is nonsense of course, but I am curious if there is even a single stock in the history of the market that has had a 15 year period anywhere near similar to Bitcoin's.
Nvidia? Tbf, Nvidia has had periods where they almost went bust. But yeah, picking one stock out of 5000 and hoping they'd all 460x is like putting all your eggs in the basket on 2-3 shitcoins. Wish I put even more into SOL tho...
I do think bitcoin was a generational wealth creating opportunity for the millenials/genz age groups. every generation has theirs "it thing". whether it's the gold rush...oil .....steel....
Microsoft (NASDAQ:MSFT) shareholders will cast their votes on whether the company should publicly assess adding Bitcoin to its balance sheet on Dec. 10. The vote, scheduled for 8:30 AM PST, comes as Bitcoin (CRYPTO: BTC) trades at $98,050, after touching a record high of $103,679 and gains endorsement from global leaders such as President-elect Donald Trump and Russian President Vladimir Putin. The proposal, titled "Assessment of Investing in Bitcoin," was submitted by the National Center for Public Policy Research, which describes Bitcoin as "an excellent hedge against inflation,” Quartz reported, quoting an SEC filing. Despite this advocacy, Microsoft's board of directors has recommended voting against the measure, asserting that the company already evaluates a broad range of assets, including Bitcoin, as part of its existing investment strategy. "The company carefully considers this topic as part of our broader financial framework," the board noted in a filing with the U.S. Securities and Exchange Commission (SEC). Microsoft co-founder Bill Gates has consistently expressed skepticism about cryptocurrencies, often citing their speculative nature. His views appear to align with the board's position, further diminishing the likelihood of shareholder approval. While some tech giants like Tesla (NASDAQ:TSLA) and MicroStrategy (NASDAQ:MSTR) have embraced Bitcoin, Microsoft has yet to follow suit.
The vote is whether to 'assess to add bitcoin' , but not to actually add bitcoin? Why would anyone be against assessing whether to add the best asset from the past decade to their balance sheet? Shouldnt you assess every asset?
Yes but with gold and steel at the end there is an actual thing that is needed or desired. I’ve never bought into the bitcoin craze because I can’t get over this whole notion of made up currency with nothing backing the original barter or trade. Maybe I’m the idiot here but it still doesn’t make sense to me in my experience studying economics. But what do I know. It was only college. I didnt subscribe to the right YouTuber.
The power it takes to create and secure bitcoin are what backs it, same as the time and effort to dig gold out of the ground are what back it.
LOL. I am flattered you actually took the time to look at my posting history. I think I touched a nerve with you because you actually want to believe all that high minded stuff about BTC, but it's really just another speculative asset that is going to be regulated and bet on by Wall St and Big Money (aka the people you despise). Again congrats to those who actually buy low and sell high on crypto. I sleep very well at night with my own investing gains and knowing that I'm just not the type of person who would have ever had the same type of conviction on crypto as more traditional assets.
"Is", not "was". Bitcoin is but a tiny tiny fraction of the world's capital stores. It is going to eat everything that is used for long term capital storage. Real estate, precious metals, equities, etc. There's still 100x+ to go and plenty of opportunity for wealth accrual to those who get ahead of this inevitability.
Uhhhhhh BTC has had massive inflation in the last month...... Is the massive volatility a good thing for whatever BTC is trying "to solve"?
This is interesting. No one's currently losing money right now. https://www.bitcoinmagazinepro.com/charts/percent-addresses-in-loss/ also: Fear & Greed Index: Extreme Greed (78/100) also #2: why are there less addresses compared to 2023? https://www.bitcoinmagazinepro.com/charts/addresses-holding-x-btc-by-year/
Fear and greed index has been a poor measure. Its been high for months. There are less addresses because people are choosing to hold in institutions. Much of this runup has been institutional buys. I am not sure if and when 'retail' comes back.
for BTC / Crypto fans Google Touts 'Breakthrough' Quantum Chip, Named "Willow" this beckons the question, Will Google's Willow Quantum Computing Chip Destroy Crypto? Bitcoin fell after Google unveiled its quantum supercomputer Willow that can perform extremely complex computational tasks in no time. Will this be the end for blockchain security?
So for a layman (me), is the concern of quantum supercomputers and cryptocurrency that a super computer could eventually break the blockchain encryption and just steal everyone's BTC or whatever? What happens when the computer breaks the code?
@tallanvor or @Space Ghost can probably explain it better than I can. This X post is pretty in the weeds but the main takeaways are: 1) we're still a ways of a way off in terms of computing power 2) the cost incurred would be astronomical in terms of power consumption 3) the BTC protocol can be upgraded with quantum-resistant encryption anytime (will require a real threat to get everyone to agree to such a fork, of course)
First let me say I am not an academic (whew. dodged that). I am nothing more than a bored over-thinker. That said, I view quantum computing as alchemy in its current format. I acknowledge that there could be something that I am completely missing. Like maybe Santa Clause really does exist after all. Case against quantum computing: In his 1965 lecture, Feynman famously said: "I think I can safely say that nobody understands quantum mechanics." Now sure, there will be plenty of people who will disagree because they feel their firm understanding of observing the effects of QM makes them ... supreme experts. But just like I can observe the phenomena we call wind, it doesn't mean I am a meteorologist who can predict the weather weeks/months/years out. Interpretations of QM are widely discussed and debated, thus making quantum computing completely theoretical. Just like the existence of God is completely theoretical. If you're afraid of QM and bitcoin, all im gonna say is HFSP. Case for quantum computing: In 1934, 4 years before nuclear fission, Albert Einstein said ""There is not the slightest indication that nuclear energy will ever be obtainable. That would mean that the atom would have to be shattered at will." Of course the rest is history and we have a good understanding of the impacts of fission/fusion today. So yes, what is completely theoretical today can have an existential universal change in 4 years. But as long as we have tools like Neil deGrasse Tyson and Sean Carroll as the face of non-academic physics, I hold my doubts. Black holes and spaghettification: Just like big brains like to sit around and talk about the effects of black holes on solar systems, similar folks like to sit around and talk about how Quantum Computing can effect cryptology. Which is probably one of the most boring things to think about when it comes to quantum computers. The good news - you're not going to get ripped apart in a black hole nor will a quantum computer solve your seed phrase/cryptographic key in a few seconds. The bad news - Our solar system is already getting sucked into a black hole. And it will be millions of generations before it matters. Because when it does matter, the human race will be extinct (if we dont find a way to get to mars) due to climate change long before we start experiencing any other effects. And stuff like time dilation that I am sure NDT or Carroll or Interstellar can explain. And long before your SHA256 algorithm will be cracked by these theoretical computers, they will be cracking much much less complicated algorithms with exponential rewards than destroying 2T-100T of wealth. Not stealing! Destroying. And if someone has 2T to waste, they can easily destroy Bitcoin now. And just like you will be dead long before spaghettification, the Bitcoin network will have plenty of time to adapt ... or simply die on its own. Gold and alchemy: We can already turn lead into gold. It just makes no sense to spend 2x gold to make 1x gold. (numbers are prob higher). The same applies with quantum computers - The amount of energy it takes (currently) exceeds the value of compromising an algorithm. Quantum computing and cold fusion are kissing cousins. Solving either changes humanity at an exponential rate.
