Quote from: Snowshow on Today at 07:55:44 AM

Quote from: JayJuanGee on July 09, 2022, 06:40:00 PM

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So, instead of acknowledging that bitcoin is not a resource that provides utility but just a numeric label given to those that join Nakamoto scheme, you continue to write endless rants about the things irrelevant to this topic. That's called trolling.

It's called providing meaning, substance and context to a Snowshow world that would be vacuous if it were to not have such context.

You should be thanking me for my efforts, rather than whining about such efforts, and for sure, since we are in a public thread, people deserve to receive decent, meaningful and actionable information rather than listening to your negative nancy largely uninformed baloney that largely tells them to stay on zero when it comes to their bitcoin allocation of any investment portfolio that they might have... Actually if they listen to you, they might not even have any investment portfolio if they cannot even identify and/or figure out what is valuable.. or at least to have some value allocated towards investing into BTC.. 1% to 25% to start seems a good start.

You are likely to be whining and kicking ur lil selfie even more in 10 years and thereafter if you don't get ur lil selfie some of dee cornz at these likely to be low, low prices.

This is not financial nor psychological advice; you are responsible for your own balancing decisions in these regards... and if you believe that it is best for you to stay at or close to zero.. then you are the one in the best position to figure out those kinds of balances.

Quote from: Snowshow on Today at 10:18:06 AM

Quote from: tadamichi on Today at 09:01:04 AM

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Do you now understand how stupid your defense of bitcoin is?

You seem to be the one trying to defend the fiat system, Snowshow. Maybe you are worried that value is going to continue to gravitate into BTC? More and more people seem to be figuring out that value continues to gravitate into BTC...

Quote from: Snowshow on Today at 10:18:06 AM

Regarding the rest. You're pretty uneducated about how the banking system operates. You're just repeating nonsense conspiracy theories. But regardless, the only important point for this discussion is that fiat currencies are numbers that represent the quantity of debt created in the banking system. Debt that is paid to dollar holders at every loan repayment and that in that way provides utility to people. Everything else is completely irrelevant. So here I am not going to educate you about the banking system. But even if I would try to do something like that, this would be a complete waste of time. You're unable to even comprehend the concept of utility in economics, let alone the operation of the banking system.

I wonder how much any of us needs to know very many of these details in order to recognize and appreciate there is value in having sound money, and surely bitcoin seems to be the soundest of money currently in existence.

Sure there are a variety of ways that money is abstracted away, and people have difficulties understanding the so many ways that money is created and even how it gets value and what it is backed by. Sure some folks still believe that the dollar is backed by gold, and surely if it is not backed by gold then it is backed by some kind of productivity of the overall economy and other national assets, and even the military prowess - but then in many of these regards, fiat money, such as the dollar, ends up having tendencies to be so lacking in transparency, that people (normies and even more sophisticated peeps) frequently are not going to be able to understand and/or recognize how extensively their purchasing power is being errored away in terms of the various ways that money supply is increased - like getting taxed and not realizing that they were taxed, but then seeing decreased purchasing power and other ways that supply chain systems get messed up when there are various kinds of interventions and difficulties to identify who might be to blame or how to fix and at the same time having logical conclusions that there needs to be incentives built in to systems to inspire people to work or products to be made or even commodities to be made available to be put into a consumable state.

Bitcoin is not completely detached from the various ways that systems are screwed up, and surely we are going to continue to have parallel value systems that are in place and evolving in the coming years, and if you place all of your value into the various fiat systems you may well be able to survive and even possibly thrive - but surely many of us bitcoiners have our doubts in regards to keeping all of our value in various fiat related systems, and surely there are differing opinions regarding how much allocation would be prudent and reasonable to keep in bitcoin, and so allocation levels are likely to differ depending upon if any of us have been in bitcoin for a long time versus just getting started into bitcoin..

I think that it is reasonably justifiable to have anywhere between 1% to 25% allocation into bitcoin if you are just getting started, but it can take a while to figure out a strategy regarding how to accumulate BTC and how to change allocations if you have investments in other assets/currencies.

For someone like you Snowshow, you are perhaps a lost cause, but for anyone else who might have a lot of reservations about bitcoin, the decision might well be prudent to at least get the fuck off of zero, and do not go down some kind of a Snowshow failure/refusal to prepare path. So even with something on the lower end of the range - of something like a 1% allocation into bitcoin could take a bit of time to get systems set up and then to start to buy BTC.

Quote from: Snowshow on Today at 01:14:10 PM

Quote from: DooMAD on Today at 10:53:50 AM

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Bitcoin is a number. It has nothing to do with anything that's going on in the banking system.

If you had not noticed, bitcoin has been in the world for more than 13.5 years, and over the years, various systems have been built around bitcoin to facilitate bitcoin being more and more user-friendly in terms of holding it and/or transacting with it. Bitcoin can be held by individuals and transacted directly or held by third parties, so surely there are ways that bitcoin systems can overlap with various kinds of traditional financial systems including banks, and there even seem to be various kinds of instruments and products built around bitcoin that are not exactly bitcoin, but may well be used to store and/or transact with bitcoin. and surely easy lines cannot be drawn - even though many folks in bitcoin are conceptualizing, building and even wanting to incentivize NOT to be using traditional systems with bitcoin in order to lessen and possibly avoid some of the paperization, fractional reserve and rehypothication that can occur through those kinds of through systems in which if push comes to shove, then we find out that some of those kinds of institutions (3rd parties) may well not have the bitcoins that they claim to have. .. and there are bitcoin systems to allow to verify that HOLDers have the coins that they claim, but those verification systems will not work so well when they go into side systems that may well not require coins to be verified.

Surely the bitcoin systems is much more powerful on a monetary sovereignty, transparency, verifiability and sound money level than those various traditional systems, but if bitcoin ends up being used in those side systems, and if the system ends up failing because it dos not have sufficient/adequate bitcoin to cover all liabilities, then people sometimes might get confused and not realize whether they had gotten fucked by a third party or if they maybe should not have put their bitcoin in such a black (and potentially corrupt/dishonest) box.