Economy Bitcoin/Crypto is imploding

[Rob Battisti]

So dollars then?

I just said dollars can be money. Did you not see that?

 

[AWilder]

@AWilder

This is why your comparison to equities doesn’t hold weight.

lmao, you brought up equities. That was YOUR comparison. and now you are saying it holds no weight.

 

[Rob Battisti]

@Limbo Pete

Why do people invest in the equity market?

 

[Rob Battisti]

@Limbo Pete

Why do people invest in the equity market?

As a comparison of relative performance over a period of time.

You said that the price of bitcoin is based on money coming in and out. This is exactly the same.

 

[HockeyBjj]

Agreed.

Now what asset has had the best return since 1/1/2020?

If the dollar has depreciated 25% since 1/1/2020, where would have been the best place to park your fiat from that day until today?

S&P500?
Nasdaq?
Gold?
Silver?

Hint, it starts with a B.

Right it’s speculative and has boomed. I haven’t knocked it for that.

I only knock the people who think it’s a currency option, or people who think gold backed dollars would be better because gold is just a speculative asset as well.

 

[Rob Battisti]

Right it’s speculative and has boomed. I haven’t knocked it for that.

I only knock the people who think it’s a currency option, or people who think gold backed dollars would be better because gold is just a speculative asset as well.

Right on.

 

[AWilder]

I’m being careful in what I write.

I’ll be completely clear. When people buy shares, this is what I’m referring to as “money in” and when people sell it’s “money out”.

It’s not like it’s some novel way of describing it.

“Money is pouring out of X company” is very common phrasing.

this is just a made up saying in your head. i have never heard anyone say money in money out in the context of equity investing. it's always in reference to cash flow. You don't even understand the terms of the discussion. l

 

[Limbo Pete]

@Limbo Pete

Why do people invest in the equity market?

So just so I have it all straight, the money (dollars) you make from bitcoin are going to be reinvested in bitcoin for the purpose of getting more bitcoin (not dollars) because bitcoin is going to replace dollars?

 

[Limbo Pete]

@Limbo Pete

Why do people invest in the equity market?

As a comparison of relative performance over a period of time.

You said that the price of bitcoin is based on money coming in and out. This is exactly the same.

You just responded to your own post lol

 

[Rob Battisti]

You just responded to your own post lol

On my phone.

Earlier you said it’s “funny people invest in bitcoin in order to get dollars later on”.

Why do people invest in equities?

 

[Rob Battisti]

So just so I have it all straight, the money (dollars) you make from bitcoin are going to be reinvested in bitcoin for the purpose of getting more bitcoin (not dollars) because bitcoin is going to replace dollars?

I’ll invest in Bitcoin and borrow dollars against the value of that bitcoin without having to sell my bitcoin.

 

[Limbo Pete]

I’ll invest in Bitcoin and borrow dollars against the value of that bitcoin without having to sell my bitcoin.

So you don't think bitcoin is going to replace the dollar? You just want to take out loans?

 

[AWilder]

So you don't think bitcoin is going to replace the dollar? You just want to take out loans?

wait until he brings up equities and then pretends you made an argument about them. lmao

 

[Limbo Pete]

wait until he brings up equities and then pretends you made an argument about them. lmao

He kind of did, but was also kind of talking to himself I think

 

[Limbo Pete]

@Rob Battisti forgive my confusion, it just seems strange to plot taking out dollar loans against the value of bitcoin. I mean, aren't you one of those guys that thinks the dollar is going to collapse?

 

[AWilder]

So you don't think bitcoin is going to replace the dollar? You just want to take out loans?

he thinks he's going to amass a hoard of bitcoin so vast that he will transfer into the 0,000001% who just borrow against their billions in stocks and (ya know real) assets. The system only works if more people buy in. Totally normal.

 

[heloder]

The system only works if more people buy in.

Hey isn't there another name for this kind of ̶s̶c̶h̶e̶m̶e̶ asset?

 

[Stoic1]

Sounds like a lot of people who have no bitcoin around here. Fuckin plebs shitting on things they don't understand. Probably dont have any PEPE or DOGE either.

I'm fuckin holding onto .0147 BTC

 

[Rob Battisti]

So you don't think bitcoin is going to replace the dollar? You just want to take out loans?

Yes.

wait until he brings up equities and then pretends you made an argument about them. lmao

What?

He kind of did, but was also kind of talking to himself I think

No.

@Rob Battisti forgive my confusion, it just seems strange to plot taking out dollar loans against the value of bitcoin. I mean, aren't you one of those guys that thinks the dollar is going to collapse?

Why is that strange? It’s what Blackrock is planning on. I’m not. The dollar is “collapsing” in that inflation will always erode the purchasing power of the dollar. The dollar doesn’t collapse unless the USA collapses.

he thinks he's going to amass a hoard of bitcoin so vast that he will transfer into the 0,000001% who just borrow against their billions in stocks and (ya know real) assets. The system only works if more people buy in. Totally normal.

I’ll have about 4-5 million dollars worth of bitcoin of which I’ll take loans against. Yes.

As if that’s different than buying a property and doing the same thing.

 

[Limbo Pete]

I’ll have about 4-5 million dollars worth of bitcoin of which I’ll take loans against. Yes.

As if that’s different than buying a property and doing the same thing.

Taking out loans against bitcoin is pretty different than taking out a loan on your house lol