0 sats \ 16 replies \ @nullcount 15 Aug 2023 \ on: Stuff that's cringe in Bitcoin: bitcoin
Publishing an hour long podcast about how someone earned $150 in sats over 2 years of work writing articles. And pretending its revolutionary.
Pretending btc is inevitable or already won the global reserve currency status
Refusing to acknowledge how BTC has been supplanted as free market money for Darknet Markets. But still call BTC freedom money even tho people use privacy coins when freedom is actually at stake.
Overall, anytime bitcoiners act delusional or LARP.
Publishing an hour long podcast about how someone earned $150 in sats over 2 years of work writing articles. And pretending its revolutionary.
I'm not sure why you want to pick this bone. I don't think anyone is arguing 500k sats matters much on an absolute scale for most people. Nor would I ever use the world 'revolution' (speaking of cringe ... the worst) to describe SN along any dimension. It's a strawman.
Most of us are impressed we might have a weak and very early hint of a social media future that pays you something rather than taxing you via data and attention mining. I'm the first person to admit it all might be a mirage though. If you want to argue against something, argue against that. We might all actually learn something.
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I don't think any of us (maybe some in less affluent nations) are fooling ourselves into thinking getting a few 100 sats a day is earth shattering but like you say it is a hint that the current model of social media isn't the only way and that there may be a better way fueled by bitcoin. The incentive structure on SN isn't perfect but its miles ahead of places like Twitter/FB. If you can't see the potential of SN and of course of bitcoin I have no clue why you are on this site.
Not being interested in plebs is cringe to me.
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Sorry but this really is a bur in my saddle here. Might have to take my hat off.
There are so may podcasts in the bitcoin realm with BIG NAMES with huge stacks of stats. I really can't comprehend thinking it is cringe that kr has a podcast talking to plebs. I'm not aware of this being a common let alone a trend. If there are so many podcasts like this to make it cringe talking to a pleb about this site then please send these cringe podcasts my way.
What's cringe is the number of bitcoin podcasts that only talk about what the new ATH is gonna be after the next halving. No one has a clue. Some are smarter than others but its dumb.
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Kinda surprised by this take. I won't belabor the point but @k00b is right. I will say measuring sats in their current fiat exchange rate value is kinda surprising to say the least. I guess you sold all your bitcoin already at the ath?
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cringe:
hating on things that you yourself use a lot
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@nullcount continuing to tie sats earned to their $USD value. I think I speak for almost everyone here when I say I’m approximately 10x more stingy with 300 sats from my hot wallet than I am with $3 from my leather wallet, explain that to me
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If you value your sats today higher than the exchange rate, you are irrational unless trading at the exchange rate would realize a loss for you.
Its also possible that selling BTC "in a KYC way" could pose extra risks to privacy that effectively create a marginal loss depending how you value that risk.
Likewise, selling in a no-KYC way adds inconvenience which has costs as well.
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I definitely don’t consider myself completely rational, if I were then I’d only invest in US Treasuries (ie “risk free” assets)
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Clearly you would, as demonstrated by your Strawman.
Having an investment thesis in BTC is not irrational. But it is delusional to value present day sats "10x higher" than present value.
People who say this aren't serious unless they've sold all their possessions at 90% discount to acquire sats.
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You forgot to account for the time and complication in getting the sats back vs getting the $3 back. $3 ends up in your pocket by itself annoyingly, where you have to do a thing to get the sats in the wallet. In USA doing "a thing" costs more than $3 in fiat. In bitcoin the value of the time is higher. Also the risk in fiat is high, so I think It's rational and to value bitcoin above market offers for small amounts.
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Good points
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Are you saying that small amounts of BTC should be valued above the exchange rate because transaction fees are a "thing"?
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lol, na, that sounds silly, I'm ignoring btc transaction fees, just reffering to human ones.
No, that's called being critical, not cringe. If nobody had critiques, there would be no improving.
I wish more bitcoiners to criticize bitcoin from a bitcoiner's perspective. Too many critiques are dismissed because they come from "outsiders". But many of their complaints have a nugget of truth to them.
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Publishing an hour long podcast about how someone earned $150 in sats over 2 years of work writing articles. And pretending its revolutionary.
Your perspective is all off. The sats aren't where the value of SN is.
Pretending btc is inevitable or already won the global reserve currency status
That's your echo chamber speaking. "Bitcoiners" don't necessarily all agree on this.
Refusing to acknowledge how BTC has been supplanted as free market money for Darknet Markets. But still call BTC freedom money even tho people use privacy coins when freedom is actually at stake.
First sentence is simply false and cannot be proved. Second sentence is HTP thinking.
Overall, anytime bitcoiners act delusional or LARP.
Look in the mirror
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IDK how you can believe it is false that BTC is supplanted in darknets. Everywhere that accepts BTC, puts a tax on it so the admins can pay for the CoinJoins to required to clean it. That puts it a second-rate currency in my book. IF they accept BTC at face-value or at a discount, its because freedom isn't actually at stake.
Saying something is HTP thinking when, in fact, its the way things are right now, is cringe.
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