BITCOIN

[Klaus]

At one point I “ valued “ it higher than stocks ? I’m not sure what you mean.

In my investments that year (2020ish ) the value of it was worth my time?

Again I’m an idiot.


Isn’t value what others judge it as? Like my Silverado I put maybe 15 miles a month on.. to me might be worth $5000. If I put it for sale it may be of an $8000 value to a buyer

Why is it "worth" $5000? Can you use it to generate $5000 in income? Is the alternative taking a taxi which will cost you $5000 over a year? Can you melt it down for scrap if steel is trading at $5000. etc. etc. This is the difference between "value" and "price."

 

[Weather Man]

Crypto prime broker FalconX is said to resume using Silvergate's payments system​

SI +7.05%Nov. 22, 2022 10:48 AM ET

• Silvergate Capital (NYSE:SI) stock climbed 8.8% in Tuesday morning trading after FalconX, an institutional cryptocurrency trading platform, said it will resume its customer's use of Silvergate's payment network to make cash payments after halting it last week, Bloomberg reported, citing a recent memo.
• FalconX's suspension of allowing its clients to use the Silvergate Exchange Network came about following an outage that impacted Silvergate's (SI) "wire payment network," as the collapse of crypto exchange FTX prompted further crypto market uncertainty, the memo read, as reported by Bloomberg.
• Silvergate's (SI) SEN, a key player in the digital asset-focused bank's overall growth, enables its clients to transfer U.S. dollars and euros in real-time.
• Seeking Alpha contributor Lyster Analytics views Silvergate stock, down 87% Y/Y, aa a Strong Sell given its material exposure to FTX and Gemini.

 

[CompOrange04GT]

Why is it "worth" $5000? Can you use it to generate $5000 in income? Is the alternative taking a taxi which will cost you $5000 over a year? Can you melt it down for scrap if steel is trading at $5000. etc. etc. This is the difference between "value" and "price."

I used it to generate a profit which paid for other things in USD

I’d say 2019-2021 many used it as income.. That they spent

 

[q6543]

What is the fair value of BTC? Not the price but the value?
Pretend for a moment you have a bitcoin but you have no price information. You must value it. How do you do so?

I value bitcoin such that it will mirror the total of ALL assets globally.
I believe somewhere around 500 Trillion total non derivatives by the time it's fully matured.
A little over 20 Million per bitcoin.

 

[Deceptive]

I value bitcoin such that it will mirror the total of ALL assets globally.
I believe somewhere around 500 Trillion total non derivatives by the time it's fully matured.
A little over 20 Million per bitcoin.

Is your weed man lacing your shit with fentanyl?


My math may be off but, I think a quarter midget is a garden gnome.

 

[q6543]

Hey... alot of people say they believe it's going to zero...

I believe it's going to 7 zeroes.

 

[CompOrange04GT]

Is your weed man lacing your shit with fentanyl?


My math may be off but, I think a quarter midget is a garden gnome.

I’m not saying they are the same .. but .

Nobody would have ever guessed a place that you can type your thoughts would be worth 44 billion…

Or 20 years ago a book selling store would become one of the largest companies on the planet with their hands in everything

Everybody thought Google was a joke… and here we are

 

[Klaus]

I value bitcoin such that it will mirror the total of ALL assets globally.
I believe somewhere around 500 Trillion total non derivatives by the time it's fully matured.
A little over 20 Million per bitcoin.

So you have sold all of your shit to put into bitcoin? Taken out a HELOC to buy bitcoin? Are sipping ramen right now because every cent you have is going into BTC? Are levered to shit such that you will be poor and destitute if your thesis fails.

Because this is what someone that really believes would do.

 

[rotor_powerd]

I’m not saying they are the same .. but .

Nobody would have ever guessed a place that you can type your thoughts would be worth 44 billion…

Or 20 years ago a book selling store would become one of the largest companies on the planet with their hands in everything

Everybody thought Google was a joke… and here we are

Those examples actually provide a service, or at least an advertising space for eyeballs to see.

What does a crypto coin provide?

 

[Silverstrike]

Those examples actually provide a service, or at least an advertising space for eyeballs to see.

What does a crypto coin provide?

My neighbors fifth removed cousins, niece says there is value in this whole bunch of 00001100000111110000001111110000. And you are a moron if you don't see the monetary value in it like all the lemmings do.

 

[q6543]

Klaus, I have kept my cars and modest home, however if this bear market takes further legs lower into next year I probably will sell it outright and then rent while I put the rest into BTC/ETH.

I also max contribute to my 401k, everything else...yep.

I have no interest In leverage or loans though.

 

[CompOrange04GT]

Those examples actually provide a service, or at least an advertising space for eyeballs to see.

What does a crypto coin provide?

The ability to buy and sell using it

 

[rotor_powerd]

The ability to buy and sell using it

But only because people are putting actual money through it. On its own, it is nothing and does nothing. And as such is worth nothing.

 

[CompOrange04GT]

But only because people are putting actual money through it. On its own, it is nothing and does nothing. And as such is worth nothing.

If it’s worth nothing I wouldn’t be able to sell it

 

[q6543]

But only because people are putting actual money through it. On its own, it is everything and does everything. And as such is worth everything.

Fify.

 

[Klaus]

Klaus, I have kept my cars and modest home, however if this bear market takes further legs lower into next year I probably will sell it outright and then rent while I put the rest into BTC/ETH.

I also max contribute to my 401k, everything else...yep.

I have no interest In leverage or loans though.

It sounds like you believe in 1M BTC about the same as I do.

 

[Klaus]

You can now bet on SBF felony conviction

SBF convicted of a felony before 2026

Resolved YES. Resolves as YES if Sam Bankman-Fried (aka SBF), founder of FTX, is convicted of a felony in any country. Resolves as YES whether SBF pleads guilty, is found guilty, or is tried and found guilty in absentia. Clarification: AFAICT, 'felony' is a term only used in the United States...

manifold.markets

 

[598]

Add to the equation time, desire, and carrying costs. What is your time horizon for carrying the assumed asset? Factor opportunity costs, but those vary greatly from one person to another, as some are willing to receive no current gain in exchange for peace of mind. That goes to how bad you want the asset. Some crypto guys I know had a bad case of fear of missing out. Carrying costs in bitcoin in a private wallet are effectively zero as I understand it outside of opportunity costs, like if you buy gold and put it in your personal safe, vs buying gold at an exchange, taking delivery, and paying storage charges monthly.

As to the cost of production, how many of us make money on our hobby cars? Cost of production has very little to do with value at times. Anyone who has sold a racecar can attest to that. To get a drag car into the low 7s costs way more than you can sell the car for, but participation enjoyment may offset that loss to some. When you spend a crap-ton on the project car, it makes it easier to justify holding for a longer period of time.

 

[VegasMichael]

You can now bet on SBF felony conviction

SBF convicted of a felony before 2026

Resolved YES. Resolves as YES if Sam Bankman-Fried (aka SBF), founder of FTX, is convicted of a felony in any country. Resolves as YES whether SBF pleads guilty, is found guilty, or is tried and found guilty in absentia. Clarification: AFAICT, 'felony' is a term only used in the United States...

manifold.markets

I've read that someone named Gary Wang, a co-founder of FTX, may be more in the know and smarter than Sammy Boy.

 

[Klaus]

Carrying costs in bitcoin in a private wallet are effectively zero

Carrying costs are effectively zero in all financial assets.

You are getting your face absolutely torn off in opportunity cost. Cash pays 4%. You are down 70% YTD.