Bitcoins - digital currency

The strategic reserve Trump proposed didn't involve acquiring any, just holding coins they confiscate.

This is correct.

RFK and Lummis have different proposals.

I'm sure there will be others in his ear about acquiring.

But I'm not too optimistic they'll be net buyers, but we'll see.

Simply setting up a strategic reserve and moving already owned confiscated coins to it is still bullish in and of itself.

I saw 79,995$ on some exchanges...

Any recommendations on the best place to buy a lambo in New England?

Jesus... if you can afford it, don't pick that garbage.
Get a 911 gt2 or gt3... accept no substitute.

$80,500+

Thanks for this. I missed it when it was released.

We just hit $81k. Only $19k to go before your avatar comes back to life. 😀

I still remember finding this thread the first day it was posted and calling up my computer nerd friend to tell him to start "mining" these so called Bitcoins. I now have 24% of my networth in BTC and MSTR. Since I found it so early it should be much more, but all the altcoins popping up really messed me up in my understanding of digital scarcity. But now I know and knowing is half the battle. I saved a collection of quotes for others that might have the same mental hangup with shitcoins.

"This is the key behind everything. If you can recreate it you never created it in the first place. It’s a paradox. A new bitcoin would be a paradox. It is nothing or everything." -- Anon

"Absolute mathematical scarcity achieved by consensus in a decentralized network was a discovery rather than an invention. It can't be achieved again by a network made up of participants aware of it's discovery. Since what's discovered was resistance to replicability itself." -- Tomer Strolight

"It is hard to grasp but eventually you will understand that Bitcoin is unique because it created digital scarcity a one-time innovation. Other projects are just software, lacking this crucial breakthrough. If Bitcoin fails, the concept of digital scarcity dies with it." -- Anon

"It's all about the properties of the bitcoin network and the network effects. Think about how there are many, many currencies but they are all basically just derivatives of the dollar. They are all measured against the dollar and everyone really wants dollars because they are The best fiat out of all the other shitty fiats that can only be used locally while the dollar has global network effects.

Bitcoin was the discovery of digital scarcity and all derivatives of it are just copies with worse properties/tradeoffs." -- Bodi X.com

slater's back yesss

That feel when someone, anyone, remembers me. I shall drop more wisdom nuggets from people smarter than me just for you, ponder and grow rich.

"The whole premise that is required for the universe to function is conservation of energy. The energy itself is what creates the cost to a copy. A person without energy is a ghost. An object without energy is an image. Commodities without energy are coupons. Money without energy is credit.

Having a cost to a copy is what creates scarcity.

The idea of scarcity of money is the same as saying: if money is conservative, then everything else will be conservative. If money is non-conservative, the world goes insane.

The problem we have right now is, although the world wants to be digital, there is no digital money. There is only digital credit. What you have is credit circulating on a digital network.

Any politician can decide to print as much as they want whenever they want, which means that they’re all lapsing in energy content anywhere from 10%-90% a year. Over time, the entire system is collapsing because there’s no energy backing it."
—Michael Saylor

"Please learn to understand that NOTHING can be backed by gold. Any currency claiming to do that will be progressively inflated as there is no way to actually tie something to gold. The same thing will happen again but just faster with a CBDC "backed" by gold.

None of those issues exist with Bitcoin. It can't be counterfeited. It doesn't need to "tie" itself to anything. Bitcoin solved a fundamental computing problem (double spend) through a combination of consensus and cryptography. It's its own standard. Anything with a central authority, controlled by people will eventually fail due to greed. This can't happen with Bitcoin as there is no central authority, just hardware and software." -- Anon

"I think the epiphany comes when you realize that bitcoin is the dominate digital property network, and digital property is better than physical property in every way conceivable. If I theoretically designed digital property to store a billion dollars, I would want to hold it in the palm of my hand, move it at the speed of light, vibrate it one thousand times per second. I want it to last forever. I want immortal, indestructible, infinite, all powerful, programmable energy.” — Michael Saylor

"I put everything I get into Bitcoin and keep a few grand in cash.

Bitcoin offers something 98% of people who buy it don’t even understand, and 100% of those who don’t buy it don’t understand.

I believe 98% of those who buy bitcoin purely do it thinking it’s all about making money and that’s it, that they’ll be able to sell it to someone else, and that’s all that care about, they don’t actually understand bitcoin.

Here’s the thing

Bitcoin is literally property, a form of value, that you can move infinite amounts of wealth anywhere to anyone, and you can hold infinite amounts of wealth with a few words written down, that you can take anywhere anytime, and you don’t have to worry about a bitcoin being “fake”

You cannot do this with land, property, gold, art, or any other collectable item. Land/property can always be taken from you, and you cant take it with you, think of landlords in Ukraine right now. Gold comes with its own logistic issues, and it another thing you can’t take with it without being robbed at the airport. Art and collectables can be faked, but even if they’re real, they can easily be damage, and they can only be sold at auctions where the auctioneers take a massive cut (20-30%+) fees, and again, art and collections as investments come with their own logistical issues.

The more dangerous and chaotic the world comes, the more valuable bitcoin is.

It is unironically the perfect asset, and while retail poorfags and normies lose interest in it, you can guarantee smart people in the know, and the elite and super wealthy, understand how powerful it is and how important it is for them to have some." -- Anon

"Simple Checklist as to why ETFs are better than Self Custody (for most people).

WARNING -- THIS POST WILL TRIGGER "TRUE BITCOINERS"

1. Safety. As much as you believe you think your key storage is safe, as the Red Square shows, 5 Million BTC are estimated to be lost. Unless you are very, very careful and use trusted multi-sig platforms like casa or unchained, you could end up in this square.

2. Taxes. They are certainty. ETFs are ultra tax-efficient. They are easier on your accountant. Your excel spreadsheet also will not hold up in an Audit as well as your Schwab Tax form. ETFs are standardized. That's a good thing.

3. Death. Also a certainty. Passing on that portfolio to your family will be a lot easier with ETFs than with your convoluted security setup. A friend of mine died with 1 Billion dollars of crypto. Nobody ever found it.

4. Liquidity. Selling an ETF is extremely fast. Seconds. And the spreads are razor thin. Moving your coins to Coinbase or other exchange could take days for the funds to be available to trade. And this will only get worse if E. Warren has her way.

On the reverse side, you won't be able to skip dodge with your stash as easily, or move coins to your cousin Sergei in Kiev. And, if you do get in a divorce, it's going to be harder keeping your stack from your ex-wife / husband.

If you are "Heisenberg" from Breaking Bad, I suggest the Samourai wallet, Mixers, and TOR VPN at all times." -- Fred Kruegur

"The Fed controls interest rates in the short end. From 1980 till 2008, it was a slow and steady forced move down. They did this to "stimulate the economy". Instead of Gold, Stocks became the new "hard money". Companies bought back their own shares. PE expansion and momentum forced American savers in equities, and starting in 2000, real estate.

Since 2008, the system was finally completely broken. The Fed invented QE to fund a new wave of printing.

Bitcoin is an antidote to this fiat madness. It's the antidote to MMT, the antidote to socialism." -- Fred Kruegur

"Do you buy your morning coffee with fractions of SPY? Medium of Exchange is a trivial use of money as transactional use carries little term risk, see: fiat value over time versus gold, BTC, equities. The chunky part of Money is the Store of Value, Unit of Account demand, as these demands can't be met by anything but an abstraction like money. BTC is a quantum leap in these properties of money, fixed in supply, stateless, trustless, transparent ledger etc etc. Compared to gold, with it's infinite supply and 2% inflation, or equities with their enterprise risk and unlimited supply, bitcoin is unmatched." -- Anon

Follow the 4 year cycle, buy during bear, recovery and bull, sell during mania. Move cash back in during bear, DCA during recovery and bull.
>2012 bull (halving)
>2013 mania
>2014 bear
>2015 recovery
>2016 bull (halving)
>2017 mania
>2018 bear
>2019 recovery
>2020 bull (halving)
>2021 mania
>2022 bear
>2023 recovery
>2024 bull (halving)
Guess what 2025 will be?

I have a question, it may sound like im trolling but im not. Whats the endgame if you have a bunch of btc?

Lets say you have a bunch and it goes to 500k or 1M, you still have to cash it out in some currency to spend it no? Or is the solution something along the lines of should btc go to 1M the infrastructure will be there for you to spend it directly in btc without the need for a middleman currency?

Again, not trolling just curious.

“Don’t fight this”

Intersesting, thanks for response.

Licking 85k!

I could respond to a number of these ideas... but really, what would be the point of correcting you.

Is it too early to get on the beers?

BTC is a 'hard asset'... what is the point of hard assets?

like real estate, art, classic cars, precious metals... what's the point?

the point is that they insulate you from the effects of inflation, and in some instances, governmental overreach.

how do you use a hard asset? you hold it... as soon as you revert it back to currency your barrier becomes null and void.

how do you spend hard assets? you sell them in proportion to what is needed, just as any other hard asset.

how else can hard assets be used? YOU CAN BORROW AGAINST THEM as collateral.

:/thread

WAY TO EARLY for Champagne or Lambo's...

[emoji106]

87k and blasting right now lfg

Looks like I sold some miners a little bitty too early lol…

89k !