Quote: (04-23-2019 08:49 AM)Sp5 Wrote:
Quote: (04-23-2019 07:04 AM)JayJuanGee Wrote:
Here's an interesting short little article from a few days ago about retired people not really knowing about bitcoin.
https://cointelegraph.com/news/3-of-amer...-is-survey
Personally, I doubt that it makes much difference about your age, because most people, young or old, have few clues about what the fuck bitcoin is, even if they may have heard the name. Young people might be willing to tak a bit more risk with their investment, based on their timeline, but older people will generally have a lot more money that they can invest (at least move around their various investments, even if the investmnt habits of Americans is likely to be subpar, as compared/contrasted with their inclination to consume... or gamble)
Fuck no I wouldn't put my retirement money into bitcoin.
Of course, where you invest and how much you allocate to various asset classes depends on a variety of factors. There are not too many people who suggest to invest high percentages of your quasi-liquid assets into bitcoin, and many recommend 10% at most to go into bitcoin; however, if you are a bit more bitcoin loving, you could go somewhat higher than that or if you are a bit bitcoin averse, then maybe you would apportion in the 1% or less arena.
If I read what you are saying correctly, it sounds to me that you are not even inclined to put 1% into bitcoin which would cause me to wonder if you really understand the non-correlation aspect of bitcoin and the upside potential, which causes bitcoin to be a decent hedge, even if you only feel comfortable with a 1% allocation.
Quote: (04-23-2019 08:49 AM)Sp5 Wrote:
Why would I do that when I can invest in known enterprises which have "assets" "sales" "known management" and "profits" which pay "dividends."
You would do it because at this point, bitcoin seems to be amongst the most-likely of all asset classes to be uncorrelated to various other asset classes.
Of course, it is up to you how you want to invest, but lack of correlation remains a very inspiring consideration for anyone who really attempts to understand the bitcoin space (and its contributions) rather than suggesting that it has little to no merit, which is what you seem to be doing.
Quote: (04-23-2019 08:49 AM)Sp5 Wrote:
If listed public companies deceive in their SEC filings, the management can go to jail, see Enron.
Hey, I am with you, Sp5, that there is likely a lot of wild, wild west with bitcoin, but not all aspects of bitcoin is wild, wild west, and increasingly, there are more and more traditional investment/financial mechanisms that are coming into to the bitcoin that continue to be evolving in their development and adoption. Of course, bitcoin is no where close to the development status of longer term asset classes, so like you suggest, any guy would likely want to moderate how he invests based on such differences and such ongoing developments in bitcoin. Part of bitcoin's considerable upside potential remains related to the fact that a lot of these investment vehicles are still being developed and adopted into bitcoin.
Quote: (04-23-2019 08:49 AM)Sp5 Wrote:
If bitcoin goes to zero, who could I sue? Satoshi Nakamoto? Yeah, exactly. Why the anonymity?
Nobody's accountable.
Nobody is accountable is a value-add and that is part of the reason that bitcoin is different from other asset classes and some of the differing dynamics that bitcoin brings to the party. Of course, you would likely not want all of the world to be decentralized, so no one is saying that you should invest into bitcoin as if it were taking over all aspects of the world, because it is not.. At least not yet, and even if those kinds of claims are being made (and there are reasonable arguments in that direction), hardly anyone expects the world to transition and transform overnight into a bitcoin dominated world. That's part of the reason why you only invest reasonably small percentages into it rather jumping in whole hog.... which again seems to be what you are suggesting how guys are thinking about bitcoin, which is not the case.
Quote: (04-23-2019 08:49 AM)Sp5 Wrote:
Bitcoin and all the shitcoins could be the biggest Ponzi in history.
Please don't get bitcoin mixed up with other crypto currencies, because even though some of the other crypto projects, ICOs and altcoins are trying to innovate or to pump their shit based on various bitcoin contributions, those other projects are not necessarily adding the same kinds of values that bitcoin has added and continues to add. Surely, some of them might become successful, I certainly am not making suggestions that any guy put anything into other cryptos beyond perhaps 1-5% of the value that he puts into bitcoin. In other words, think about bitcoin first before getting distracted by that other shit.
Regarding, any kind of Ponzi scheme claim that you are making, there are probably a decent amount of altcoins or ICOs or other crypto projects that might fit into that category, and those kinds of Ponzi scheme criticisms do not fit at all for bitcoin, unless you happen to NOT understand bitcoin and you are not able to understand what distinguishes bitcoin from either a Ponzi scheme or from various other crypto projects.
Quote: (04-23-2019 08:49 AM)Sp5 Wrote:
It could even be a psyop designed to crush all resistance to neoliberal monetary policy from libertarian Ayn Rand nerdbros.
Could be, but I doubt it. With anything that you do, you have to attempt to become a bit educated about what you are doing, and your claims about some kind of psyop conspiracy comes off as both overly exaggerated and ill-informed regarding various specifics about bitcoin, including it's open code source approach. In that regard, I am not getting where you are coming up with your psyop conspiracy considerations unless you are just taking those from some kinds of ill-informed sources that are spouting out ideas that they either do not understand or that they are just trying to spread misinformation while acting like they know what they are talking about... also known as spreading FUD.
Quote: (04-23-2019 08:49 AM)Sp5 Wrote:
Every aspect of bitcoin and shitcoin seems diabolically designed to suck nerdbros in, including the cool blockchain idea and the waste-of-energy "mining" shit.
You are lumping bitcoin and altcoins again, which shows your own fuzzy logic and fuzzy understanding about what differentiates bitcoin. Seems that I already addressed some of these assertions, above, but , in any event you don't seem to be making any kind of meaningful claims in this regard.
Regarding sucking in nerdbros: yes, in bitcoin, there has been greater appeal to technically expert computer geek folks, and so those kinds of folks tend to be amongst the first adopters. You do not have to be a technical nerd to begin to understand aspects of bitcoin, and you don't even have to understand all aspects of bitcoin in order to sufficiently understand it to be a good investment.
Quote: (04-23-2019 08:49 AM)Sp5 Wrote:
I don't see the underlying value, other than speculation and mystical faith.
Yes, you made that clear. In any event, let me provide you one of the many use cases, which is an ability to transfer value almost any place on the planet without having to ask for permission and in almost an instant manner. You consider that valuable? How else are you going to do that, especially large amounts? Gold? Good luck with that.
There are a lot of other use cases that relate to the one that I just mentioned, which involves permissionless control over your value, and RVF guys should be able to appreciate those kinds of concepts.
Quote: (04-23-2019 08:49 AM)Sp5 Wrote:
I might be wrong, but can you prove I'm wrong?
None of us needs to prove you wrong. You can choose what you want to do yourself, including how you want to invest or how you want to think about a topic, including whether bitcoin brings any value to the world or to yourself in your particular circumstances.