Still incredible to me its been going for this long. The end for me was August 12, 2017 when the hard fork into Bitcoin Cash was released. $6 billion was created out of thin air and no one batted an eye. For every 1 Bitcoin you had you got 1 Bitcoin Cash. At the time Bitcoin was $2800. So if you went to sleep with 1 Bitcoin @ $2800, you woke up with 1 Bitcoin @ $2800, but also 1 Bitcoin Cash @ $400. Where did that extra $400 come from? It didn't. I tried explaining this to 100s of people. You know the only person who understood what I was trying to explain? Peter Schiff
sure but that forking scam only worked a few times and the market quickly flushed it out of the system (Bitcoin Cash has trended to zero in Bitcoin terms) the same will happen with every other crypto. The entire point of money is to have a single standard to measure value, and to store your wealth in the thing that is most liquid in the future (i.e. the thing you believe the most people will want in the future).
LOL Peter Schiff. Have you heard of the 'double your coin' scam? The scammer will continue to double your coin until they feel they have extracted the max value out of you and run off. At what point would you decide you made enough of a return? Would you try it with 1 penny? Quarter? dollar? $100? $1000? When you say 'Where did this $400 come from" is like saying "how did you double my $1.00". The market cap of Bitcoin cash is extremely small on a global scale. It sounds like you do not understand market cap.
Best advice I have is any time BTC is going/trending up, buy calls on MARA/RIOT. You're not going to make 400-1000%+ in an afternoon holding BTC but you will moving these contracts. Obviously options are high risk, but I'd honestly rather move contracts than deal with directly buying crypto. And when BTC inevitably pulls back/hard trend down buy Puts in those two companies and just move the contracts.
I sometimes buy MARA calls to hedge SQQQ in the short term as an alternative to buying spy calls since the IV can get juicy and I like a little spice when I gamble.
Right, yeah, I def think that's worth going for, especially when premiums dip and you get in at a good price etc.
Bitcoin surviving the fork and prospering in the wake of the Blocksize Wars is one of the biggest feathers in its cap for its longevity. If the project was going to fail, it was going to happen then. Lucky for us the right side won that war. Also, if "where did that $400 come from?" bothered you, you should've been off the BTC train long before the fork, because you could just as easily ask "where did that $2800 come from?" If you don't understand how the price is determined and value is derived, then it's the wrong space for you in the first place.
Warren Buffett’s Deputy Calls Bitcoin ‘Disgusting’ And Bad For Civilization “I don’t welcome a currency that’s so useful to kidnappers and extortionists,” “I think the whole damn development is disgusting and contrary to the interests of civilization.” The crypto crash is bad news for ransomware criminals The crypto crash, which has wiped out about $2 trillion in value and upended a once-fast-growing industry, has an unexpected twist: Even criminals are feeling the pinch. Frequency of ransomware attacks fell with bitcoin price drop A slump in crypto prices drove cybercriminals away from ransomware, among other factors. Between January and June 2022, bitcoin's price tumbled from $48,000 to $20,000 amid weakening global macro-economic trends and rising inflation. One can infer that crypto/bitcoin prices serve as an early indicator to frequency of ransomware attacks
Not hating. Not loving. But Charlie Munger has lost a gazillion on China in the past few weeks. GOOD LUCK
Same tired old FUD. Warren Buffet has never understood Bitcoin and has always trashed it. Hearing him talk about it is like hearing my grandma talk about the internet in the 90s. There are probably cryptocurrencies that facilitate crime well, but BTC is not one of them. Cash is x1000 dirtier than BTC and that ratio is only going to grow.
Buffett doesn't like a lot of stuff. I think he stopped buying stocks completely for a few years in the 80s or something, said he didn't love anything. I respect that he only marries what he truly loves. But I don't like when he trashes stuff though, just because it doesn't fit his requirements. Munger seems to be way worse about that kind of thing compared to Buffet.
What does the price of bitcoin have to do with ransomware? If you ransom a network and want $500k the only difference is you would ask for 25 BTC now instead of 8 earlier in the year.
