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Cum Rocket

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Posts posted by Cum Rocket

  1. 3 minutes ago, Pam Cummings said:

    It really doesn't help the credibility of crypto people when every time I see someone pushing it or defending it they have some stupid ass username like cum rocket. Like what the hell man. Nobody is gonna take you seriously.

     

    "To the moon, baby! Cum rocket told me so!"

    It’s a stupid cryptocurrency. As good a name as any. 

    • Fuck You 2
  2. 9 hours ago, jimmyjazz said:

    So your $2K investment saw these peaks and valleys (all data approximate):

    $2K -> $19K

    $19K -> $3K

    $3K -> $60K

    $60K -> $32K

    $32K -> $65K

    $65K -> $16K

    $16K -> $72K

     

    You think this is a way to "save your excess dollars"?  Seems to me it's an extraordinarily risky and volatile instrument, which can lead to massive losses if you don't "time" it right.

    Higher rewards require higher risk.  It's kind of a thing.

    Again if you lower your time preference and hold it, you’ll benefit. Expect volatility though.  As explained below. Not by me. 
     

    “Due to group psychology, these newcomers arrive in waves. The waves have a destabilizing effect on the exchange rate: speculators are unsure of the amplitude or wavelength of adoption, and amateurish punters let their excitement as well as subsequent fear overwhelm them. Regardless, once the tide has pulled back and the weak hands have folded, the price is a few times higher than before the wave.”


    it appears people here still don’t appreciate my musings. Shocker. I’ll limit the CR thread to political happenings. 

    • Fuck You 1
  3. 2 hours ago, jimmyjazz said:

    Explain this in detail.  Just looking at the BTC-USD chart, the last time it was worth 4% of the current value was winter 2018 (at best).  I'm not sure that's how you're calculating "worth", though.  If so, did you hold through massive drops between spring and summer 2021 along with fall 2021 and fall 2022?  If so, what kind of "savings" has that volatility?  50%-75% drops and you just sit and hold?

    Is there some other measure of Bitcoin "worth" besides that metric?

     I joined the fun in 2017 at $2,000. 
     

    Truck was $50,000 so 25 BTC. 
     

    same truck now is probably about $70,000. 
     

    1 BTC

    • Fuck You 2
  4. 3 minutes ago, Captainant said:

    Lol so a highly inefficient patreon, very cool. But that is specifically not goods or services. You're donating to other Bitcoin maxis that are in the clubhouse already. You can't buy an actual thing from a normal person with Bitcoin or lightning. 

    I'm glad that you've found a way to simp and evangelize at the same time. You're really channeling elmo quite effectively 

    How would that be inefficient? I would argue that it’s more efficient since you’re streaming every minute you watch or listen. You aren’t paying for a subscription you forgot or don’t utilize. It’s a new framework for sure. All by using a couple apps on your phone. Still waiting on those transactions confs tho! Actually, no
     

    For those curious. The idea is called podcasting 2.0. I use the fountain app. 
     

     

    • Fuck You 3
  5. 34 minutes ago, Captainant said:

    That's moonshine. It doesn't exist and does not have any degree of genuine market adoption. I have addressed the technical faults with lightning in the past - namely that it's just a side-book with a single vendor at a time where you still have to incur a transaction fee and long confirmation time delay to close the equivalent to an escrow account. 

    You just keep repeating your fucking lies over and over again in the most trumpian way. 

    Repeating it doesn't make it true. It just makes gullible people believe you. 

    I’ve bought things or paid over lightning using iOS wallets. I’ve actually used apps where you stream bitcoin to podcasters you enjoy. Lessens the needs for advertisers. These apps all handle channel management. You don’t get slammed with fees or confirmation delays. You’re full of shit. You should stop lying. You aren’t running your own lightning node or anything. 
     

    Quit gaslighting people following this conversation. 

    • Fuck You 4
  6. 1 hour ago, FirstTimeCaller said:

    For the life of me, I cannot understand how this gets people so worked up. 

    This deserves a full response. There’s a few reasons. 
     

    First of all you just have straight up envy. The average IQ of people that get mad about bitcoin is higher than the general population. They’re mad that they’re seemingly smart but missed it. They had friends that told them about it. Or they read an article or two and dismissed and here they are 8 years later and some poster named Cum Rocket is telling them they’ve been wrong the whole time.

     

    I’ve come to realize that either people get it or they don’t. You can lead a horse to water but you can’t make them buy Bitcoin. I’ve tried over the years with friends and family and most have blown me off. It happens. I have one good friend that went in big the same cycle as me and is thrilled about it. But the last couple years I’ve just stopped even though this is the most obvious thing in the world to me. 
     

    Secondly, there are people here that know why Bitcoin came to be and maybe are at the higher levels of the pyramid and benefit from the current money printing effects or the financialization of the economy and are wary of Bitcoin effects long term.  

     

    Thirdly, it’s known to come from let’s say a libertarian mindset. Especially in CR that brings with it a lot of preconceived notions and emotions. It kind of ties into my last point. 
     

    If you think about it, Bitcoin challenges a lot of things at once that are assumed today. Government and issuance of money are interlinked. Inflation is good. Centralized planning is ideal. The existence of a massive network of trusted third parties is essential to transactions of value. These are all things that people here hold as dogma. That’s very upsetting.
     

    There’s a lot more you could go into there but the thing that always stuck with me was when you save money or value you’re saving essentially the time it took to secure that value. When governments or central banks arbitrarily print trillions of dollars to bail out banks or other connected big business and oligarchs they are essentially stealing your time here. Again, arbitrarily and to benefit the real oligarchs. Not the ones @Neonmoon is claiming. He simps for the real ones. The money printers and bankers. Slayyy queen 
     

    If your money is maintaining its value you don’t have to speculate or chase yield or become a mini hedge fund to beat inflation. You can trust that what you saved will be there. Then you can in a sense, “Lower your time preference”. And think about how the best decisions and moves are made when you can delay gratification. A more philosophical tangent, but I digress. 
     

    Tl;Dr 

    They missed it. The status quo benefits them. Or they hate it politically.

    • Fuck You 7
  7. 1 hour ago, Captainant said:

    Have you actually gone through the end user experience of buying something, sitting with your thumb up your ass for 10 minutes waiting for TX confirmations, and then fighting with their support to prove that it did confirm and that they have your money now? 

    Lightning network. We’ve gone over all these arguments in 6SJ but I guess it’s good for newbies to hear them. 
     

    1 hour ago, Captainant said:

    And fucking MEGALULZ for claiming that cryptocurrencies "can't be debased". Wow. That's shot straight past aggy on the delusion-meter

    As you probably remember I only really care about or discuss bitcoin. No it cannot be debased. 
     

    1 hour ago, jimmyjazz said:

    "Save".

    LMAO

    Yep. You can save your excess dollars in bitcoin. When I started my last truck would’ve cost ~25 bitcoin. Now it’s worth ~1. The cost of everything in bitcoin trends down over time. 
     

    1 hour ago, Brisketexan said:

    If your point is "I'm in on it, and think I can time it right to make some money here," then so be it.  It's morally ambiguous, but then so is capitalism in general.  Just don't try to sell me on the idea that it's more than it is: something you buy hoping it goes up in value and you make money, NOT something that has any other intrinsic value.

    Bitcoin is a savings vehicle. 
     

    it is one that will only become more adopted over time and therefore will appreciate in value. 
     

    1 hour ago, Neonmoon said:

    if it stops one child from getting raped, or one terrorist plot from being funded

    You post a lot of nonsense, but this is one philosophical point of yours that is just foolhardy. There’s no limit to government encroachment on your life if you abide by this framework. Hard pass for me. 
     

    1 hour ago, Captainant said:

    Because my goddamn state is paying hundreds of millions of dollars to fucking imported mining operations from China, rather than using that money to invest in energy storage and transmission capacity upgrades.

    Demand response programs have a use. I could be wrong but I don’t think bitcoin miners created the idea. And if you didn’t live in Texas where Bitcoin mining happens you would still get hot and bothered about bitcoin so whatever. 
     

     

    • Fuck You 5
  8. 1 hour ago, FirstTimeCaller said:

    I'm personally angry about Bitcoin because we're letting bitcoin miners waste absurd amounts of energy

    they’re paying market price for energy. It’s not up to you to determine if it’s a “waste”. 

     

    1 hour ago, wildcat09 said:

    no inherent value whatsoever.

    This seems to be a popular refrain here.

    Value is subjective. What gives diamonds or gold value? It’s amazing how mad that fact makes people. I don’t care if people put extreme value on old paintings. 
     

    The value is in the fact that it’s the first time we have created digital scarcity. Verifiable, immutable. Can’t be diluted by human actors. It gives you a way to save that can’t be debased. If that doesn’t appeal to you or make sense to you nowthen it’s not for you. You’ll get it eventually. 
     

    12 minutes ago, Neonmoon said:

    Now explain WHY there is monetary value in a monetary asset that isn’t tied to a government? 

    We know the reason Bern and anti-government nut jobs like it.(because the government can’t debase my money. Rabble rabble. Bring back gold standard. I’m a moron)

    If the government can’t control the supply of money, let’s talk about WHY THATS BAD. Let’s forget all the transactions tied to drugs, child sex trafficking, terrorists, cartels, oligarchs, Russians paying off legislators, etc. If the government can’t control the supply of money, it can’t successfully stimulate the economy during let’s say a the collapse of the financial system, a once in a lifetime pandemic, banking deregulation that leads to bank collapses like SVB, etc. and what happens when the government can’t do that? Liquidity stops. Bank runs. Companies can’t make payroll. Can’t buy supplies. People can’t buy groceries. People use their guns to get food. 

    Buy hey, at least I have Bitcoin in the apocalypse


    There were forms of money before there were any organized states. There’s no obvious reason why one has to be tied to the other. 

    Also, the currency used most commonly for all those things you listed is USD cash by far, but you already knew that. You’re looking for some BS angle to justify attacking it a la Liz Warren. 
     

    As for government control of the supply of money, that’s a bigger economic debate than I feel like partaking in currently. That’s been done in circles before.  
     

    The wailing of nocoiners will only get louder as bitcoin continues to win. I’m honestly amazed the ETF got through. It’s going to be structural and you’re all going to own some bitcoin passively via investment funds or just index etf funds once the company called Microstrategy gets added to the S&P. Sorry in advance for all the Russian bribery child porn terrorism that you’ll be supporting. That’s a real shame. 

    • Fuck You 4
  9. 52 minutes ago, jimmyjazz said:

    Yeah, I'm not sure I see the logic in delaying (small) rate cuts until the inflation target is hit.  Seems like a classic "too late" move, prone to overshoot.  (Well, undershoot in an absolute sense.)

    What’s the impetus for rate cuts then? Is there some softening in the economy that is under appreciated by most?

  10. 6 hours ago, Nice Guy Eddie said:

    I wasn't far off with my prediction by Mar. 8th.

    As of close Friday, IBIT reports owning 0.997% of all bitcoins. Of course, they still trail GBTC but quickly GBTC is selling bitcoins quickly as investors leave that ETF. 

    note: Let's keep presidential politics out of this.

    He can’t. 
     

    5 hours ago, Blotto said:

    Someone explain Microstrategy to me. At this point, if you buy or hold the stock, it has to be as a proxy for BTC as their legacy business hasnt grown in 10 years and cant be worth all that much. As of Feb, they hold 190K BTC which is worth ~$13.7B. Their market cap is approx twice that. Here's the relative performance of MSTR vs BTC over the last year.

    image.png.4e2ec658d5c191b900e1557f076df059.png

    Is there anything behind this behavior other than your run of the mill irrational market exuberance?  With the new avenues for exposure to BTC in the market, I am curious why people would still be piling into MSTR with that premium to NAV. 

    Of all the days to have a big excursion day, had to be BTC ATH day. I’ve been jonesing to check things out. 
     

    Some good Saylor content here. 
     

    The premium is pretty big obviously but the way Saylor has been structuring the debt offerings, the amount of BTC per share has been increasing slightly over time. He discusses that in interview.  There’s also idiot shorts covering.

     

    Could also be front running S&P inclusion.  

    • Hook 'Em 1
  11. 3 hours ago, StassneyHorn said:

    The soft landing that our back wheels just touched down on that is apparent to everyone but you, unless you wanted me to do your homework with a lengthy post about inflation numbers continuing to trend downwards. PCE hitting 2.4% last month as part of the continued falling trend that the Fed favors over other inflation measures is the most obvious. We had percentages in the 90s of a rate cut for this March but January repricing spooked people and set the timeline back. 

    6 weeks ago we were looking at a 90% chance of a cut this month, now we’re around 33%. The question is when not if.

    What’s the Fed’s inflation goal?

  12. 2 minutes ago, Neonmoon said:

    Did Biden admit pressuring Powell to lower rates and because of said pressure, he lowered the rates.

    https://thehill.com/homenews/sunday-talk-shows/4208224-trump-interest-rates-too-high-people-cant-buy-homes/

     You guys are fucking clowns 

    Lulz. 
     

    Which is more likely? Powell cutting rates because of something Trump said, or Trump falsely taking credit for something? 

    • Fuck You 1
  13. 14 hours ago, StassneyHorn said:

    Pull up the last president’s remarks on the Fed and Powell so we can review. You won’t 

    The previous President criticized Powell and the Fed regularly. Biden’s remarks were different in the sense that they seemed more like a wink wink prediction. 
     

    I guess it all depends on what you think is more noteworthy. An orange man railing against something he can’t control, or an Average Joe sharing what he heard around the water cooler? Sure, the previous Chair of the Federal Reserve is around the proverbial water cooler but whatever.   

  14. 6 minutes ago, Make em eat Taco Bell said:

    population decline? then why is the rent so damn high? seriously. 

    Same goes for car prices and everything else in the consumer universe.  Inflation means lack of supply / too much demand right? Has Supply dwindled and Demand jacked up??

    You’re absolutely right that the demographic situation in most developed nations is deflationary. Thus, long term, the money printer must brrrt.  

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