May 26, 20242 yr Author 15 minutes ago, DrPhilly said: Why not just to up to $10M? At the time, $500k was how much 1 BTC would be worth if it matched gold's market cap Considering it's better as a store of value and medium of exchange, this is its eventual floor imo. Today to be matched, it's around $800k. $400k is still only half of gold today End game is all the countries adding it to their reserves, which if the United States does that, everyone will. Entire countries will FOMO just like a boomer who can barely send an email does. And it still being worth only half as much as gold is still really dumb
May 26, 20242 yr 42 minutes ago, mattmcginley7 said: At the time, $500k was how much 1 BTC would be worth if it matched gold's market cap Considering it's better as a store of value and medium of exchange, this is its eventual floor imo. Today to be matched, it's around $800k. $400k is still only half of gold today End game is all the countries adding it to their reserves, which if the United States does that, everyone will. Entire countries will FOMO just like a boomer who can barely send an email does. And it still being worth only half as much as gold is still really dumb Ok
May 28, 20242 yr Author On 5/26/2024 at 12:23 PM, mattmcginley7 said: I'm just realizing the next escalation of this is a strategic plan to buy Bitcoin as a reserve asset If that happens this cycle, $400k is a lock I would not have guessed this happening this quickly Just two days later, they're actually thinking about it lol
May 28, 20242 yr 19 minutes ago, mattmcginley7 said: Just two days later, they're actually thinking about it lol Better vote for Trump then, he's gonna replace the USD with BTC!
May 28, 20242 yr Author 3 minutes ago, we_gotta_believe said: Better vote for Trump then, he's gonna replace the USD with BTC! It's a shame Biden and the Democrats are more retarded on crypto than Trump and Republicans. It's embarrassing
June 12, 20242 yr 2 minutes ago, mattmcginley7 said: He's such an idiot but this is the type of idiocy I like to see You should vote for him. It's the only way BTC can replace fiat!
June 12, 20242 yr On 5/28/2024 at 2:33 PM, mattmcginley7 said: Just two days later, they're actually thinking about it lol I cannot think of a stupider thing someone could do. regardless of how bullish anyone is on BTC it's a speculative asset whose value is very volatile.
June 12, 20242 yr 45 minutes ago, mattmcginley7 said: Sure, laugh it up, but we all gotta vote for Trump otherwise Biden is gonna win and ban Bitcoin!
June 12, 20242 yr Author 48 minutes ago, JohnSnowsHair said: I cannot think of a stupider thing someone could do. regardless of how bullish anyone is on BTC it's a speculative asset whose value is very volatile. I can't think of anything better to do
June 12, 20242 yr Author The psychology of this thread fascinates me. It's been nonstop crying all the way up to $70k and 0 people willing to have their minds changed despite nonstop positive moment in the traditional finance and political worlds for Bitcoin. The Blackrock ETF is by far the most successful ETF of all time at its launch at this respective point. And none of you have seemingly have bought at all over all these years It's like there's a bug in human software that hears the word "risky" and one becomes unable to determine anything related to it with any rationality The efficient market hypothesis is clearly debunked. It will always have to deal with emotional, 100 IQ humans that are more motivated by fear than gain
June 12, 20242 yr You fail to see it as a risky asset. It's perfectly fine to take on that risk if you're willing to lose the money, but suggesting that any government should somehow get involved with an asset whose chart looks like this: and to use this speculative asset in some way that would address our national debt issue is preposterous, and would be the height of irresponsibility. countries like El Salvador can roll the dice on it. but you don't put our national budget on a roller coaster and try to get the US Treasury timing BTC. you'd be literally gambling with the country's solvency. it's stupid.
June 12, 20242 yr Author Just now, JohnSnowsHair said: You fail to see it as a risky asset. It's perfectly fine to take on that risk if you're willing to lose the money, but suggesting that any government should somehow get involved with an asset whose chart looks like this: and to use this speculative asset in some way that would address our national debt issue is preposterous, and would be the height of irresponsibility. countries like El Salvador can roll the dice on it. but you don't put our national budget on a roller coaster and try to get the US Treasury timing BTC. you'd be literally gambling with the country's solvency. it's stupid. You do understand you can allocate in proportion to the risk you're taking correct? That you don't have to go all in?
June 12, 20242 yr There is WAY too much interest in BTC as a pump-and-dump for certain players to start having the US government wading in with even a fraction of what it would take to matter to the deficit. BTC has a market cap of about $1.3T. the US debt is $34T. If the US gov't invested even $100B it would move the price WILDLY.
June 12, 20242 yr Author 5 minutes ago, JohnSnowsHair said: There is WAY too much interest in BTC as a pump-and-dump for certain players to start having the US government wading in with even a fraction of what it would take to matter to the deficit. BTC has a market cap of about $1.3T. the US debt is $34T. If the US gov't invested even $100B it would move the price WILDLY. It wouldn't be done overnight. It would be a gradual process over years Although I would go the way you suggest, because the United States would capitalize more on the first mover advantage compared to every other government that would inevitably jump on board afterwards
July 26, 20242 yr Author On 6/12/2024 at 11:49 AM, JohnSnowsHair said: You fail to see it as a risky asset. It's perfectly fine to take on that risk if you're willing to lose the money, but suggesting that any government should somehow get involved with an asset whose chart looks like this: and to use this speculative asset in some way that would address our national debt issue is preposterous, and would be the height of irresponsibility. countries like El Salvador can roll the dice on it. but you don't put our national budget on a roller coaster and try to get the US Treasury timing BTC. you'd be literally gambling with the country's solvency. it's stupid. https://x.com/rustyrockets/status/1816954490316029957?s=46 Convert the 200k BTC confiscated into reserves, buy 550 BTC per day until we have 4 million BTC, which as a percentage of the total supply of gold held would be the same There you go I'd add in funding this by dropping the gold holdings significantly and if you're gonna print money, you might as well do it to buy something that's impossible to print. Ironically, this is where printing money would actually enrich the country
July 28, 20242 yr Author On 7/26/2024 at 7:18 PM, mattmcginley7 said: https://x.com/rustyrockets/status/1816954490316029957?s=46 Convert the 200k BTC confiscated into reserves, buy 550 BTC per day until we have 4 million BTC, which as a percentage of the total supply of gold held would be the same There you go I'd add in funding this by dropping the gold holdings significantly and if you're gonna print money, you might as well do it to buy something that's impossible to print. Ironically, this is where printing money would actually enrich the country Trump's plan: Convert the 200k to reserves, buy another 800k BTC over 5 years, which is about 430 per day, until they have 1 million BTC. Only can ever be sold to pay back the dollar debt This is easily achievable
July 28, 20242 yr Author On 10/26/2020 at 6:00 PM, 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. Man... All those times you were so certain the government would ban Bitcoin, and I was all alone correctly saying they have more to gain by accepting it And all those times I told you it would be wise to invest proportionally to that possibility when the price was only a couple thousand dollars You still think Bitcoin won't also eventually be a ubiquitous payment method at near 0 cost for the world and the United States will eventually have no problem with that? Bitcoin's path to world reserve status is absolutely inevitable at this point. It will absolutely be the standard for all international trade. It's only a matter of time
August 2, 20242 yr Author On 7/29/2024 at 12:47 PM, we_gotta_believe said: Hate to see it Both of you are delusional democrat simps I've voted Democrat my whole life. You can acknowledge when someone you don't like does something positive about something you like. I promise it's not that hard to be objective
August 2, 20242 yr 19 minutes ago, mattmcginley7 said: Both of you are delusional democrat simps I've voted Democrat my whole life. You can acknowledge when someone you don't like does something positive about something you like. I promise it's not that hard to be objective I promise you, Trump doesn't know jackshit about cryptocurrency. All he knows is an easy mark when he sees one.
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