Bitcoin has been uh berry berry good to me.
Posted on 03/22/2025 3:55:41 PM PDT by delta7
As Madeline Kahn once said “It’s not the money, it’s the stuff”.
I guess I'm ignorant and old school. If you can't hold it in your hand, like gold, silver and dollars, then you hold nothing........
“I guess I’m ignorant and old school. If you can’t hold it in your hand, like gold, silver and dollars, then you hold nothing........”
My largest holdings are my house and my ETN stock. I can’t hold either on in my hand.
“I’ve read countless articles on Bitcoin and mining, and I still have no understanding on what it is or how it is mined.”
Bitcoin generates a target hash consisting of alpha-numeric characters which a numeric value.
Generating hashes is easy but generating the hash you want is hard.
Miners must use the header of the block chain to solve for a hash less than the target hash. This is done buy interatively changine an allowed character. When they do and if they are the first, they have mined a Bitcoin.
Ah, no. Satoshi was an obvious Deep State creation. Sorry.
buy interatively >> by iteratively
“Ah, no. Satoshi was an obvious Deep State creation. Sorry.”
You don’t know that. But whoever did is very rich!
“With up to 40 percent swings in “ value”, I disagree. The primary qualification for “ money” is to be stable, not a roller coaster. Carry on.”
Apples and oranges. He stated “stored value”, not money.
Electric money ducks during hurricanes and blackouts.
“The Gay Eye for the Gay Crocodile”
Everyone should have a go bag ready.
Interesting tidbit
Modern Slang (”Shipping”):
* In modern online slang, particularly within fandom communities, “shipping” has a completely different meaning.
* It refers to the desire for two or more fictional characters or real-life people to be in a romantic relationship.
* This usage is derived from the word “relationship.”
* Therefore, someone who “ships” a pair of characters wants them to be together romantically.
“True, Just ask the Dutch how their Tulip bulbs worked out. At least they had a few pretty flowers left after they lost everything.”
Perhaps you should load Socrates with real data instead of folklore.
On the off chance that's not a joke (along the lines of "It's obvious Hitler was a Zionist" or "It's obvious Billy Graham was an atheist") I'd love to hear the reasoning on this one.
So every day there are headlines, "Bhutan announces strategic Bitcoin reserve plan." Bitcoin is taking over the world! Price shoots up! "Bitcoingateway hacked for $500M!" Oh no, bitcoin is doomed! Price crashes. If we had a consensus view for where bitcoin would be in 10 years it would be easy to set a glide path and agree on the current value within a narrow band. But the lack of consensus means every bit of news sends the market into an over-reaction.
In retrospect bitcoin had to establish a role as a store of value before it could become a medium of exchange, because a medium of exchange must have value in order to work in that function. As time passes clarity will gradually emerge over what is and isn't going to happen with bitcoin, and that will steadily narrow the bounds of the price swings. This in turn will make it more usable as a medium of exchange (which ironically could then induce another bout of volatility if that expands the possibilities for its future utility). The bottom line is that bitcoin volatility has steadily dropped compared to earlier history, and we can expect this will continue to be the case, but not suddenly.
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