Conversation

Notices

1. Embed this notice
   [ZeroSum06] 🔸️ (zerosum06@noauthority.social)'s status on Tuesday, 09-Apr-2024 20:51:59 JST [ZeroSum06] 🔸️

   #Bitcoin #BTC #Crypto

   • Embed this notice
     Soretski (soretski@noauthority.social)'s status on Tuesday, 09-Apr-2024 21:05:36 JST Soretski

     in reply to

     @ZeroSum06 good one. I wonder if AI will indeed make it worthless

   • Embed this notice
     [ZeroSum06] 🔸️ (zerosum06@noauthority.social)'s status on Tuesday, 09-Apr-2024 21:10:05 JST [ZeroSum06] 🔸️

     in reply to

     • Soretski

     @Soretski Only if people trust AI to create a new store of value with scarcity and portability that's also finite.

   • Embed this notice
     🗡️Sir Meachamus Prime (meachamus_prime@noauthority.social)'s status on Tuesday, 09-Apr-2024 23:04:08 JST 🗡️Sir Meachamus Prime

     in reply to

     • Soretski

     @ZeroSum06 @Soretski

     Man, back when Steve Gibson reviewed Bitcoin and it was paying out at 50 coin I said to myself "I'm going to regret not setting up a miner." And I do. I finally bought in after the failed Tea Party on 1-6 and thus bought in around 30k, riding the drop. Was going to sell for a new computer, but got a little windfall elsewhere so buckling in for a while longer.

   • Embed this notice
     [ZeroSum06] 🔸️ (zerosum06@noauthority.social)'s status on Wednesday, 10-Apr-2024 00:44:17 JST [ZeroSum06] 🔸️

     in reply to

     • Soretski
     • 🗡️Sir Meachamus Prime

     @Meachamus_Prime @Soretski 30k is a great entry point! There's no reason it won't hit 100k this year and next year you could be looking at upwards of 6X or more above your every point. In 2025 banks can "officially" carry crypto on their balance sheets. If you can ride it out til 2029/2030 you may be treated even more pleasantly.

   • Embed this notice
     Soretski (soretski@noauthority.social)'s status on Wednesday, 10-Apr-2024 05:17:32 JST Soretski

     in reply to

     @ZeroSum06 I meant the story from last week which said AI predicted the next prime number. Even if that was a glitch, it should be expected to be a feature soon. If true, then what is the future of bitcoin's value?

   • Embed this notice
     [ZeroSum06] 🔸️ (zerosum06@noauthority.social)'s status on Wednesday, 10-Apr-2024 08:53:21 JST [ZeroSum06] 🔸️

     in reply to

     • Soretski

     @Soretski I'm afraid I'm not familiar w that story so I can't speak to that correlation. I do know what's been happening on the ground. There are pundits still calling people crazy for touting BTC. Greyscale just dumped some & only took it down to 68k so it's making higher lows, Vanguard still hasn't got on board yet, Michael Saylor basically converted Microstrategy into a holding company and there's literally trillions in boomer money still sitting on the sideline ahead of full ETF on-boarding.

   • Embed this notice
     Soretski (soretski@noauthority.social)'s status on Wednesday, 10-Apr-2024 09:57:09 JST Soretski

     in reply to

     @ZeroSum06 if it were true, what would be the implications? I mean the claim is bitcoin is a store of value which it obviously isn't, it's a speculative asset like tulip bulbs, but if it's one tenuous claim of rarity became solved by a stronger computer, would it still have any value?

   • Embed this notice
     [ZeroSum06] 🔸️ (zerosum06@noauthority.social)'s status on Wednesday, 10-Apr-2024 11:26:44 JST [ZeroSum06] 🔸️

     in reply to

     • Soretski

     @Soretski We often look to things which have scarcity as being a store of value, which it qualifies on that front. As time goes on and more money from the bigger wigs jump in, it shows BTC is increasingly more difficult to manipulate. It's portability enables literally any person on the entire planet to access, transact or store it on a device in their pocket or transfer it to cold storage.

   • Embed this notice
     [ZeroSum06] 🔸️ (zerosum06@noauthority.social)'s status on Wednesday, 10-Apr-2024 11:31:34 JST [ZeroSum06] 🔸️

     in reply to

     • Soretski

     @Soretski Embedded in the system are layers upon layers upon layers of secured encryption that can be raised exponentially on a whim in addition to millions of computers on the block chain verifying and validating every block in all directions. If anything, a gov is more likely to use the power of quantum computing to copy and exploit their own bastardized version which has been mentioned in some circles, or simply roll out a CBDC which is getting closer & closer to reality everyday.

   • Embed this notice
     Soretski (soretski@noauthority.social)'s status on Wednesday, 10-Apr-2024 18:26:49 JST Soretski

     in reply to

     @ZeroSum06 store of value vs speculate asset. Gold is a store of value based on scarcity and practical use. In times of crisis gold may go up 10-20% then settle back to a benchmark. The way bitcoin fluctuates is not like a store of value. I get that it is novel and some players are just entering so there may be a ratcheting phase, but it acts more like a bet than an asset. Congratulations on your success by the way. I hope it never crashes the whole system.

   • Embed this notice
     [ZeroSum06] 🔸️ (zerosum06@noauthority.social)'s status on Wednesday, 10-Apr-2024 21:52:50 JST [ZeroSum06] 🔸️

     in reply to

     • Soretski

     @Soretski Thank you. The thing is, as time goes on, and it's been around for over a decade now, it stabilizes more and more each year and has shifted to a store of value. Advantages it has over gold (which is still a quality store of value) also include portability and immutability.