
Luka
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2021 - Is inflation finally back in the conversation?
Luka replied to Reagan1k's topic in Business and Markets
Thanks for all the stats. Imagine thinking any side cared about fiscal responsibility. Couldn’t be me -
Holy shit. $118 currently. 4x in a day. I hope you sold!
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Congrats! I have no idea how it will perform either. Seems overvalued, but it is the public markets only exposure to emerging stablecoin industry. Crazy to think what Tether would be worth if IPO'd. Will never happen though.
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Elon Musk: Nazi traitor piece of shit [Confirmed]
Luka replied to MaybeACoordinator's topic in Daily Texan
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Pretty wildly successful crypto IPO today. Circle CRCL. Priced at 31, opened at 69, shot up to 103, now at 89. Stablecoin firm Circle's shares more than triple in NYSE debut
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Cryptocurrencies (Bitcoin, Ethereum, Litecoin, etc.)
Luka replied to surlybevo's topic in Business and Markets
Something all politicians agree on. We need more brrrrrrrrr. I wish you luck. The engineering that goes into this security makes me a little uneasy. Thus I’m sitting it out. -
2021 - Is inflation finally back in the conversation?
Luka replied to Reagan1k's topic in Business and Markets
There is minimal trust introduced, mainly through Square's liquidity and channel management. But you will not be funding or managing the channels (not side-chains). Outright theft or loss of funds is not possible. Unlike Paypal, you control your own funds at all times. Unlike Paypal, payments cannot be declined. Otherwise you have it exactly right. Lol. If you'd to discuss further perhaps should move it to the appropriate thread. -
2021 - Is inflation finally back in the conversation?
Luka replied to Reagan1k's topic in Business and Markets
It will use the lightning network on top of bitcoin. -
2021 - Is inflation finally back in the conversation?
Luka replied to Reagan1k's topic in Business and Markets
When there are big liquidity shocks or market crashes, it has dropped substantially. That is largely due to it being tradable 24/7. Margin calls globally can be met at any time using it. Now if you think at some point central banks will choose to idly and let markets tank long term, then you should avoid it. But we all know what happens, the money printer turns on and they bring it back. It's the #1 priority. I remember quite vividly during the COVID crash when bitcoin finally bottomed under 4k one night. I thought oh shit, put a few drops in the bucket (wish I had done more), and just turned off my phone to hang with the family. Look what happened from there. US "embracing" bitcoin definitely gave it a boost post election. There are plenty of other financial and societal factors that have been noted that are boosting it now. There are also large pools of capital that are getting more involved. Hedge funds, insurance, pensions. Other countries will be getting more involved. A lot of speculation that oil and gas rich countries in middle east have been mining for a while. Lots of tailwinds. Good thing you don't get paid in BTC! You're right, we have beaten this over and over. It is currently primarily a savings vehicle. Over time it will have more utility. Hey go buy some steak n shake with it now. Block/Square rolling out BTC accepting on their PoS in 2025/2026 They'll be able to opt for instant conversion to fiat, set a specific portion as BTC, or just keep the BTC. Otherwise, if you want to use it for big purchases and need $, just sell and take cap gains 20% out. There are also currently products being built out that will allow you to take out overcollateralized loans against your bitcoin if you'd like. Similar to what has been done by rich people for a long time. Borrowing against large assets. -
2021 - Is inflation finally back in the conversation?
Luka replied to Reagan1k's topic in Business and Markets
Here's the Grok response when asked about BTC/SPY correlation It generally has been become more correlated to SPY over time, although not very tightly. I think that's due to it being more closely linked to global liquidity as the size of the Bitcoin market gets bigger it takes more capital to move the price around. It's pretty simple really, Bitcoin has no top over time because fiat has no bottom. They can and will print as much as they feel is necessary. Usually more. Absolute scarcity in a network with a programmed set of rules versus a centrally planned system with rules dictated and changed over time by fallible actors. You put some of your excess earnings or savings in bitcoin as a hedge against continued, increasing debasement of your monetary units. It has done very well and will continue to do so. -
2021 - Is inflation finally back in the conversation?
Luka replied to Reagan1k's topic in Business and Markets
You beat me to it. A very well put together presentation. Agreed. The question then is if she's right, then what are the ramifications? -
[News/Updates] Mass Shooting at Robb Elementary Uvalde - 5/24/2022
Luka replied to Ghost of LL's topic in Daily Texan
May 24th is up there with 9/11 as far as I’ll always remember where I was when it happened. I walked out of my daughter’s 5th grade talent show and saw my phone had been blowing up. All kinds of chatter flying around online. I called my mom and I told her I heard there was a shooting at Robb and that a couple people had died. She said it was way worse than that. Then word trickles out and you hear of all the people you know connected to victims and it’s a just such a terribly sad situation. Then it’s just hanging over the town. Like living in a cemetery if you’re there. It’s just a weird feeling to have your hometown become notorious because of the acts of one person. I don’t forgive him. I don’t forget.- 1366 replies
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Cryptocurrencies (Bitcoin, Ethereum, Litecoin, etc.)
Luka replied to surlybevo's topic in Business and Markets
This is how people should be approaching things. Just put a portion of your savings into it every month. You will benefit over time. I don’t even want to do the math of where I’d be if I put the kids’ monthly 529 deposits in bitcoin. I had that going to be “responsible”. Womp womp. About 8 months ago I switched over and now do monthly bitcoin buys just for college savings. The tax advantages won’t be there but appreciation will be substantial as we print more money. -
Cryptocurrencies (Bitcoin, Ethereum, Litecoin, etc.)
Luka replied to surlybevo's topic in Business and Markets
today is Bitcoin pizza day. The anniversary of when one early holder paid 10,000 BTC for 2 pizzas. Valued today at $1.1B. also, happening yesterday and relevant to Texans. soon, we'll all be hodlers -
Cryptocurrencies (Bitcoin, Ethereum, Litecoin, etc.)
Luka replied to surlybevo's topic in Business and Markets
BTC 111k
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