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Posted
3 minutes ago, Tailgate said:

Cannot wait to see what happens when Vanguard opens up their wallet for Bitcoin. It will happen.

I've long thought the welcome to the big leagues moment will be when employers start to allow employees to buy bitcoin (actual purchase or ETF) with their 401ks. In a sense it will be purchasing an amount of bitcoin and putting it away for decades. That is where the scarcity of btc will come into play with less and less bitcoin for sale.

While there are now ~20m bitcoin in circulation with another 1m left to be mined, there are estimates that there are actually closer to 14-15m available. The rest being lost for a variety of reasons. If true, 15m is a small number. 

Posted
On 5/19/2025 at 1:51 PM, Brisketexan said:

If the USD goes "poof"....pray tell, what GOOD will your crypto be?  How will you use it to procure goods and services here in the "we don't actually have a currency" USA?  Will you be able to access the internet?  Use electricity?

If the USD goes "poof," none of that shit will matter or be in play.

If you are investing in a hedge against the dollar's complete and total collapse, as a resident of this country, you'd be much smarter investing in crates of ammunition.

Man, don't give them good ideas.

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Posted (edited)
On 5/19/2025 at 1:23 PM, Nice Guy Eddie said:

That is where the scarcity of btc will come into play with less and less bitcoin for sale.

nm

Edited by Incredulity
Posted

A few weeks ago the OCC, which regulates banks, pushed out a new order enabling commercial banks to custody and buy/sell cryptos to customers. https://www.occ.gov/news-issuances/news-releases/2025/nr-occ-2025-42.html

You are going to start seeing, when you open up your bank account, Checking, USD Savings, and Bitcoin/Tether accounts all listed together. 

The stablecoin bill, which is about to pass, is a serious problem for banks, because most banks are holding onto your cash and paying 0% interest, and for Visa/Mastercard who need their 2.5%. 

And when you have the option to save in a currency that doesn't depreciate to Bolivia and they're oh by the way they're not making more of it, you will do that too. 

Money printer going brrrrrrrrrrrrrrrr. 

 

Posted

Next MSTY payment announced tomorrow. I think a lot of people are going to be pissed if it’s 1.10-1.40, like it should be. The underlying and the synthetic positions were all down, but the weeklies kicked ass. Will be interesting to see if they juice it up based on the strength from the previous income that was withheld.

Posted
On 6/4/2025 at 7:54 PM, Luka said:

I wish you luck. The engineering that goes into this security makes me a little uneasy. Thus I’m sitting it out. 

There’s a good follow on X/Twitter/Youtube called RetireonDividends that downloads the daily holdings/transactions for MSTY/CONY and a few others at Yieldmax that helps paint what the firm does. He actually had the MSTY fund manager and the Yieldmax CEO both on for an interview and answered a ton of questions about prospectus changes that address NAV decay and how estimated ROC is deployed for tax advantages. 

Posted
7 hours ago, Luka said:

Big pivot here. Now just need to drop prosecution of non custodial mixer developers like Samourai. 

You mean drop prosection of money laundering operations?

  • 3 weeks later...
Posted
12 minutes ago, burnt beanz said:

MSTR back over 400. BTC 107,500. The hour draws near. 

I believe that we're due for another BTC pop. Perhaps closer to 125.

caveat: if there are negative, external events, then it could easily drop as well.

 

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Posted
30 minutes ago, Nice Guy Eddie said:

I believe that we're due for another BTC pop. Perhaps closer to 125.

caveat: if there are negative, external events, then it could easily drop as well.

 

Ya, I think it could go higher or lower as well. 

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Posted

Honest question - why would you trade bitcoin, which is going to the moon eventually, for a cheeseburger which is literally going into the shitter in a couple of hours?

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Posted (edited)
9 minutes ago, burnt beanz said:

On that note I did buy a nice steak n Shake burger combo last week with bitcoin. Paid from my cashapp. Scanned a QR code on the register. Done in seconds. @Captainant

lulz that's conducting a transaction in the Cash App ecosystem, not happening live on the blockchain. It's being conducted in BTC valuation, but you're relying and trusting a third party financial institution. Which is diametrically opposite of the BTC whitepaper's core design principal of trustless payments.

You don't even get a txid because it's not on any blockchain anywhere, it's on the same old """dinosaur slow and inefficent""" payment systems that dollars flow through as well. Which is what BTC was supposed to be innovating upon, not using to scale lmfao

Correcting myself - they do appear to rectify the transaction on the blockchain eventually, however the instant nature of the transaction clearing is not BTC. That's the Cash App saying "trust us" while they wait for their BTC transactions to process through the blockchain.

Edited by Captainant
Posted
3 minutes ago, tbone_ said:

Honest question - why would you trade bitcoin, which is going to the moon eventually, for a cheeseburger which is literally going into the shitter in a couple of hours?

Say that someone is sitting on a large (or small) capital gain on crypto. If Sen. Lummis' language is kept, it would exempt <$200 transactions from reporting the sale as a capital gain.  Now if you have $2m in capital gains, that's a long haul to not report the capital gains across many many transactions but it legally eliminates the tax owed.

Of course if someone thinks that BTC is going to 10x, you don't want to spend $15 on a burger that will eventually effectively cost you $150.

 

Posted (edited)

LOOOOOOLZ you're not conducting BTC transactions. You're conducting side-chain transactions with third parties that you've chosen to trust. You're just playing with wildly inefficient monopoly money that does not even do what you evengelize it as doing.

 

To even start using lightning, you consign off a portion of your BTC to an open and run a ledger with that vendor and have to trust that they won't just run off with your funds and DDoS your ability to send a closing transaction before they write out a block to the main BTC chain. It's no more secure than just doing business with a bank at that point. You're just doing it with WAY more steps and wasting a shitton of energy to conduct your commerce

Edited by Captainant
Posted

There is one valuable utility to these coins and it is bypassing currency exchanges which are useless.  My brother gets paid in USD and converts to real using BTC and pays next to nothing for it.  I totally see the utility there.  As a store of value, fuck off.  But to move quickly from different currencies, hell yes.  

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