Bitcoin and Ethereum

[mattmcginley7]

Buy some. Thank me later 

 

 

(I made this on the EMB years ago when Bitcoin was at $2000)

[mattmcginley7]

Your $1.55 must be like $2.30 now! Wild stuff

[NoDak Eagle]

Bought a bitcoin when it was at 3850. Now it’s near 10,000. May sell it may not. 

[mattmcginley7]

On 7/26/2020 at 4:05 PM, NoDak Eagle said:

Bought a bitcoin when it was at 3850. Now it’s near 10,000. May sell it may not. 

I've bought as early as 2013 and have held all of it. Account worth a pretty substantial amount and have 0 plans to sell anything. Might change my tone though a bit when I could buy a nice a** home outright 

I made this exact thread on the old emb early 2017 when it was at $2k

This is going to be much bigger. People don't understand the mathematics and fundamentals of it. I suggest whoever is reading this does learn it though, because it's inevitable that it will be ubiquitous in our lives. 

PayPal/Venmo announced they will be integrating it, as well as banks just got approval to carry it for customers

[Eaglesfandan]

2 hours ago, mattmcginley7 said:

I've bought as early as 2013 and have held all of it. Account worth a pretty substantial amount and have 0 plans to sell anything. Might change my tone though a bit when I could buy a nice a** home outright 

I made this exact thread on the old emb early 2017 when it was at $2k

This is going to be much bigger. People don't understand the mathematics and fundamentals of it. I suggest whoever is reading this does learn it though, because it's inevitable that it will be ubiquitous in our lives. 

PayPal/Venmo announced they will be integrating it, as well as banks just got approval to carry it for customers

That huge.

[NoDak Eagle]

2 hours ago, mattmcginley7 said:

I've bought as early as 2013 and have held all of it. Account worth a pretty substantial amount and have 0 plans to sell anything. Might change my tone though a bit when I could buy a nice a** home outright 

I made this exact thread on the old emb early 2017 when it was at $2k

This is going to be much bigger. People don't understand the mathematics and fundamentals of it. I suggest whoever is reading this does learn it though, because it's inevitable that it will be ubiquitous in our lives. 

PayPal/Venmo announced they will be integrating it, as well as banks just got approval to carry it for customers

I bought early too but then sold at a decent profit. Good for for hanging onto it. Wish I would of too now but I did quite alright. Over 11,000 now and I didn’t sell 

[Paul852]

Is it on its way to 20k again? This thread will take off like the old one.

[mattmcginley7]

BTC and ETH hit $12,000 and $400 respectively last night

[mattmcginley7]

One of the best explanations I've ever heard for why someone should own Bitcoin 

[we_gotta_believe]

PayPal to allow cryptocurrency buying, selling and shopping on its network

 

https://www.reuters.com/article/paypal-cryptocurrency/paypal-to-allow-cryptocurrency-buying-selling-and-shopping-on-its-network-idINL1N2HB14U

[TEW]

19 minutes ago, we_gotta_believe said:

PayPal to allow cryptocurrency buying, selling and shopping on its network

 

https://www.reuters.com/article/paypal-cryptocurrency/paypal-to-allow-cryptocurrency-buying-selling-and-shopping-on-its-network-idINL1N2HB14U

The bigger catalyst is going to be when institutional money is allowed to invest. Bitcoin is terrible as a medium of exchange. As an asset, there might be something to it if pensions and such are allowed to invest.

[we_gotta_believe]

1 minute ago, TEW said:

The bigger catalyst is going to be when institutional money is allowed to invest. Bitcoin is terrible as a medium of exchange. As an asset, there might be something to it if pensions and such are allowed to invest.

Almost as bad as baseball cards! Beanie babies! Tulips!

[mattmcginley7]

https://medium.com/@vijayboyapati/the-bullish-case-for-bitcoin-6ecc8bdecc1

 

^^^ Regarding "it's a bad medium of exchange"

 

Literally it could get worse as a medium of exchange and it'll still go to $500k, but because it's a programmable network and therefore subjected to Moore's Law and Accelerating Returns, it will inevitably become a great medium of exchange

[we_gotta_believe]

4 minutes ago, mattmcginley7 said:

https://medium.com/@vijayboyapati/the-bullish-case-for-bitcoin-6ecc8bdecc1

 

^^^ Regarding "it's a bad medium of exchange"

 

Literally it could get worse as a medium of exchange and it'll still go to $500k, but because it's programmable and subjected to Moore's Law and Accelerating Returns, it will inevitably become a great medium of exchange

Don't even bother indulging him, he's clearly a few sandwiches short of a picnic. It's perfectly fine as a medium of exchange. Having used it myself for that exact purpose many times, I have no issues with it, and the fees pale in comparison to more conventional mediums.

[mattmcginley7]

1 hour ago, we_gotta_believe said:

Don't even bother indulging him, he's clearly a few sandwiches short of a picnic. It's perfectly fine as a medium of exchange. Having used it myself for that exact purpose many times, I have no issues with it, and the fees pale in comparison to more conventional mediums.

Yeah I've also had no problems at all. Michael Saylor also makes the case that its ability to move significant amounts of money is vastly superior with Bitcoin. Maybe not ideal for coffee (yet), but for the purposes of store of value and medium to large transactions, easily no issues and superior to the fiat monetary system.

[Aspiritfall]

I now own 11111 dogecoins and now to play the waiting game 

[TEW]

On 10/21/2020 at 9:32 AM, we_gotta_believe said:

Almost as bad as baseball cards! Beanie babies! Tulips!

Yeah, I was so totally wrong calling that a bubble weeks before BTC lost 75% of its value.  

On 10/21/2020 at 11:09 AM, mattmcginley7 said:

https://medium.com/@vijayboyapati/the-bullish-case-for-bitcoin-6ecc8bdecc1

 

^^^ Regarding "it's a bad medium of exchange"

 

Literally it could get worse as a medium of exchange and it'll still go to $500k, but because it's a programmable network and therefore subjected to Moore's Law and Accelerating Returns, it will inevitably become a great medium of exchange

You’re confusing price with function. It may very well go to $1M per BTC, but it won’t be because people are using it to buy groceries.

The hyper bullish case for bitcoin is as a store of value. Basically digital gold. Get institutional players involved and you might get extreme appreciation. But, again, it won’t be because it’s used by the masses for daily transactions.

[NoDak Eagle]

On 7/26/2020 at 3:05 PM, NoDak Eagle said:

Bought a bitcoin when it was at 3850. Now it’s near 10,000. May sell it may not. 

Glad I didn’t sell yet 

[mattmcginley7]

On 10/23/2020 at 7:19 PM, TEW said:

Yeah, I was so totally wrong calling that a bubble weeks before BTC lost 75% of its value.  

You’re confusing price with function. It may very well go to $1M per BTC, but it won’t be because people are using it to buy groceries.

The hyper bullish case for bitcoin is as a store of value. Basically digital gold. Get institutional players involved and you might get extreme appreciation. But, again, it won’t be because it’s used by the masses for daily transactions.

Eventually people may use it as a medium of exchange in more everyday life. But people don't even want to when it has the ability to appreciate so much in value. They'll exchange the currency that doesn't continue to go up in value.. They'll get rid of fiat, that is, for all intents and purposes, an infinite supply crap coin that is centralized and constantly debased

For people interested in DeFi, I recommend HEX. I'm up 49x in under a year lmao. Best project for sure when you consider security, game theoreticals, no admin keys, no changing the code, audited, and is essentially for the first certificate of deposit in crypto.

[we_gotta_believe]

8 hours ago, mattmcginley7 said:

Eventually people may use it as a medium of exchange in more everyday life. But people don't even want to when it has the ability to appreciate so much in value. They'll exchange the currency that doesn't continue to go up in value.. They'll get rid of fiat, that is, for all intents and purposes, an infinite supply crap coin that is centralized and constantly debased

For people interested in DeFi, I recommend HEX. I'm up 49x in under a year lmao. Best project for sure when you consider security, game theoreticals, no admin keys, no changing the code, audited, and is essentially for the first certificate of deposit in crypto.

Disagree. Crypto won't supplant fiat at scale at any point in our lifetimes. The value of the technology is in eliminating exchange inefficiencies. The store of value is important for some of the conventionally excluded market segments, especially in the third world, but in the first world, it's the transactions that will allow it to gain more prominence. 

[TEW]

18 hours ago, mattmcginley7 said:

Eventually people may use it as a medium of exchange in more everyday life. But people don't even want to when it has the ability to appreciate so much in value. They'll exchange the currency that doesn't continue to go up in value.. They'll get rid of fiat, that is, for all intents and purposes, an infinite supply crap coin that is centralized and constantly debased

For people interested in DeFi, I recommend HEX. I'm up 49x in under a year lmao. Best project for sure when you consider security, game theoreticals, no admin keys, no changing the code, audited, and is essentially for the first certificate of deposit in crypto.

The government will never allow it to supplant its own currency for commerce. That’s a complete nonstarter. There is a reason the government will only allow you to pay taxes in dollars, and if a crypto currency ever threatened national currencies, they’d outlaw it meaning no store would accept it.

IMO, if you’re going to get that 100X type of growth in BTC, it’s going to be from the government allowing institutional investors to get involved. Which, from what I understand, is slowly happening. 

[we_gotta_believe]

Institutional investors are slowly getting involved in beanie babies? Yikes, someone should really warn them against investing in something with such little intrinsic value.

[mattmcginley7]

4 hours ago, TEW said:

The government will never allow it to supplant its own currency for commerce. That’s a complete nonstarter. There is a reason the government will only allow you to pay taxes in dollars, and if a crypto currency ever threatened national currencies, they’d outlaw it meaning no store would accept it.

IMO, if you’re going to get that 100X type of growth in BTC, it’s going to be from the government allowing institutional investors to get involved. Which, from what I understand, is slowly happening. 

The world changes. Circumstances change. Any country that bans Bitcoin stands to lose out much more than if they are early adopters

[TEW]

2 hours ago, mattmcginley7 said:

The world changes. Circumstances change. Any country that bans Bitcoin stands to lose out much more than if they are early adopters

Banning it for commerce? No. Every government stands to lose much, much more by losing their control over the means of exchange. Do you honestly think the US government would be in a better position if the USD lost global reserve currency status?  

[mattmcginley7]

15 hours ago, TEW said:

Banning it for commerce? No. Every government stands to lose much, much more by losing their control over the means of exchange. Do you honestly think the US government would be in a better position if the USD lost global reserve currency status?  

The USD is going to INEVITABLY lose global reserve currency status. There's no doubt about it. It might not be tomorrow or a few years, but I'd bet everything I own it will happen in my lifetime.

Imagine other countries choosing between each once Bitcoin is completely frictionless with instantaneous near 0 cost transactions; "Hey guys, should we be

1. reliant on USD, that prints trillions of dollars, bails out billionaires, corporations that don't deserve it, further enriching the richest of its own and debasing and ultimately stealing from its poorest citizens, that we have absolutely no control over where fallible morons like Donald Trump have control of it

Or

2. Use the programmable protocol based on mathematics and not humans, impossible to sieze and control currency that we have the exact supply of to base our economy on?"

Really tough decision there for all those other countries for sure. USA bans Bitcoin in this scenario and the rest of the world laughs at us for choosing to commit economic suicide on a mutually agreed upon program that the rest of the world finds superior money/sov.

The USA needs to be crypto friendly and a leader in this space. It's a matter of when, not if, that USD gets eaten up by superior forms of money. That goes for every single country in the world. We are no exception