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31 sats \ 35 replies \ @Undisciplined 19 Dec \ parent \ on: Barber Shop Bitcoin Babble bitcoin
It's hard to put a price on the smug sense of self satisfaction.
Yes, I guess it is priceless! Just wish I had that feeling.
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one million dollars!
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Hardly
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Shallow
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Early is relative, no?
Many folks here are 'early' and and are 'in profit' - 'deep in the green' as the traders say.
The problem of course is... what do you trade out to? Paper money? Why?
That would be nuts.
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Commodity traders usually say, “Deep in the money.” Not green.
You trade out to goods and services by using BTC as MoE.
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I agree. BTC directly to goods and services.
BTC exchanged for paper money... to spend on goods and services is a scam in most cases in my opinion.
Having said that, the etfs do not allow for spending on 'goods and services' not really.
And people need more education before they are ready/educated enough to spend on goods and services. A large number of people (strangely) think Bitcoin is a scam, a 'crypto' thing they don't understand you can actually send and receive bitcoin.
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Why are you in an ETF? You can self-hodl and not have to worry about all the problems with platforms and exchanges.
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I'm not actually. But the 'barber shop' conversation has given rise to this conversation....
And it seems to me that the vast majority of the barber shop people have been given access to a technology that they absolutely do not understand. They have actually never used it (not really)
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Why should they? They have their brokers and advisors to take their slice in commissions. You will notice, however, they never take a slice of the losses!!
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In my opinion it's more than that.
It's like investing in the ford motor company... without having ever driven a car or seen one.
I think that is the primary reason for so much 'confusion'
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It does’t help that most bitcoiners only flash on the possible “profits” when they buy BTC. They don’t make the case for other purposes.
Early is before most people get in, because most people will get in eventually.
You trade for goods and services that you use. That's the entire point of money.
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People don't see it that way.
Especially if they use ETFs.
They trade out to... dollars and paper money.
Trading for goods and services requires sending and receiving to addresses, or at least the remedial use of lightning.
Which ETF users don't actually know exist.
On top of that, most government policy disincentivizes spending directly on goods and services... because that would remove the need for fiat to begin with.
Today total Bitcoin adoption is something like... 1%? maybe much, much less? Are we 'early'?
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Yes, we are early adopters, not innovators. Folks like @DarthCoin are the innovators that got in near the true bottom.
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Bitcoin in total is a... 130 year experiment. from 2009 to ~ 2140. About 130 years.
Next year will be about 16 years.
So that's about 12% through (counting next year). We're in total 12% into the Bitcoin experiment at 16 years (next year).
I think that provides important context.
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Why do you say a 130 year experiment?
Are you saying that FRN were an experiment rather than a control collar for the slaves?
What about the long running money called gold?
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Btc isn't gold. Btc is better... that's the whole point.
yes 130 years. from the first block to the last btc being mined is ~ 130 years
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Why do you think it will take 130 years to mine the last bitcoin?
The mining equipment is speeding up and power is coming online.