Bitcoin....who's gotten into it?

[J. Barron DeJong]

Yeah, but when you have corrupt rulers who can create money out of thin air, they have lots of enthusiasm to keep the war machine going perpetually.

I don't think fractional reserve banking is totally bad or good in isolation. Credit is needed for economic growth. But when moral hazard is involved and the ones who take the most risk get bailed out (and know they are gonna get bailed out) that is certainly a situation with great room for improvement.

There’s no link between being able to ‘create money out of thin air’ and ‘the war machine’. Period.

And fractional reserve banking has been a massive boon for economic growth, even if regulation has been much less than optimal at times, and likely will never be close to perfect.

[byates1]

Yeah - selling is part of that volume you were bragging about. But ignore that. And the GBTC selling is also OTC. But sure.

Not saying BTC won’t be fine. But it’s funny to watch you and your sidekick prematurely nut multiple times and then scramble for something to talk about LOL.

I was lost and super worried about my direction and place in the universe. Thank God I have you to put words in my mouth and form thoughts for me. I feel incredibly lucky.

[J. Barron DeJong]

Weird that as the USD has become ‘softer’ and moved towards actually being able to just be ‘printed out of thin air’ we’ve been spending a lower and lower share of our riches on funding war.

[stalefish3169]

Weird that as the USD has become ‘softer’ and moved towards actually being able to just be ‘printed out of thin air’ we’ve been spending a lower and lower share of our riches on funding war.

They don't even know where the money is brosef.

https://thehill.com/policy/defense/4...udit-in-a-row/

"They found that half of DOD’s assets can’t be accounted for."

[J. Barron DeJong]

They don't even know where the money is brosef.

https://thehill.com/policy/defense/4...udit-in-a-row/

"They found that half of DOD’s assets can’t be accounted for."

Saying ‘the defense industry fucking sucks!’ is not the same fucking thing as saying fiat is what leads to perpetual war!!!!

[JimmyCarter]

Here comes fourdy

FIFY

[J. Barron DeJong]

FIFY

OH, NO!!!!

[dunfree]

Saying ‘the defense industry fucking sucks!’ is not the same fucking thing as saying fiat is what leads to perpetual war!!!!

Depending on accounting dipshits to find anything not in a spreadsheet is a waste of time, it’s like expecting byates to get paid without exchanging money

[byates1]

^Bro I don't charge your mom take it easy on me

[J. Barron DeJong]

Depending on accounting dipshits to find anything not in a spreadsheet is a waste of time, it’s like expecting byates to get paid without exchanging money

Yeah, I’m actually not that surprised that if they only started actually doing audits six years ago they’ve had problems accounting for all defense assets. But even if you grant that it’s a problem, it a totally different problem.

[Tri-Ungulate]

Yeah, but when you have corrupt rulers who can create money out of thin air, they have lots of enthusiasm to keep the war machine going perpetually.

Jeebus, bitcoin is not only stopping climate change but it's also ending war? Sign me up!

[byates1]

I'll make sure to have some campari spritzers at the beaver mini for you^

[Tri-Ungulate]

Here's the ironic funneh little twist yatesy that I find personally amusing - I will prolly benefit more from BTC blowing up than you will.

I'm just not a sad desperate shill like yourself.

And I will celebrate with many 98 pound weakling Campari spritzers.

[4matic]

The new etf’s are another derivative that just dilutes the supposed scarcity. Just like gold the supply of derivatives will far outweigh the supply of the commodity.

[byates1]

This is a concern ^ for sure.

[byates1]

Here's the ironic funneh little twist yatesy that I find personally amusing - I will prolly benefit more from BTC blowing up than you will.

I'm just not a sad desperate shill like yourself.

And I will celebrate with many 98 pound weakling Campari spritzers.

You can finally afford some heelpieces.

[J. Barron DeJong]

The new etf’s are another derivative that just dilutes the supposed scarcity. Just like gold the supply of derivatives will far outweigh the supply of the commodity.

I thought these newly approved ETFs all held Bitcoin directly.

[byates1]

The have to, but it's cash in cash out. 4matic is right. This doesn't help scarcity.

However, over the coming decades utility can increase. The entire space can increase.

[J. Barron DeJong]

The have to, but it's cash in cash out. 4matic is right. This doesn't help scarcity.

However, over the coming decades utility can increase. The entire space can increase.

But they aren’t derivatives and don’t dilute the supply of Bitcoin. It’s just a simpler way to buy into the existing supply of Bitcoin, letting the ETFs do the actual buying for you (for a fee).

[4matic]

But they aren’t derivatives and don’t dilute the supply of Bitcoin. It’s just a simpler way to buy into the existing supply of Bitcoin, letting the ETFs do the actual buying for you (for a fee).

You can’t redeem your etf for Bitcoin and the sponsor redeems for cash. Soon there will be options and other contracts which just expand the cash settled segment of the business. Just like gold.

[J. Barron DeJong]

You can’t redeem your etf for Bitcoin and the sponsor redeems for cash. Soon there will be options and other contracts which just expand the cash settled segment of the business. Just like gold.

Maybe it’s just semantics I’m not getting. Not looking to argue, and I could very well be wrong. But I don’t see how -these particular- ETFs dilute the market at all. What difference does it make if I give and ETF $10K and they use their wallet to buy more Bitcoin vs. me creating a wallet and buying $10K of Bitcoin myself?

That’s not to say there couldn’t be derivative products, and maybe this opens those floodgates, but I don’t see how these particular ETFs are considers derivatives or are diluting the market.

[Bunion 2020]

Without digging too deeply, what is to prevent any of these ETFs from taking your money and not buying coin and gambling that the value/price decreases. And going tits up if the value goes up? The SEC?

[MakersTeleMark]

Without digging too deeply, what is to prevent any of these ETFs from taking your money and not buying coin and gambling that the value/price decreases. And going tits up if the value goes up? The SEC?

Jail. But that doesn't seem to stop anyone.

Just buy some BTC and self custody.

[byates1]

It's not too much of a stretch to think the big boys are coming into the teeny tiny BTC space to devalue it through exactly what 4matic is saying. Gold is chump change at 2000$ the paper gold market is enormous in comparison and most likely rife w shades of grey shit..

Exactly why 5% physical metal is the recommended. And if you're a cowboy and like adventure 10% BTC.

[shera]

The new etf’s are another derivative that just dilutes the supposed scarcity. Just like gold the supply of derivatives will far outweigh the supply of the commodity.

Sigh