bust it challgene
This is like a real life example of conversations that start out with “What would you do if somebody paid you X dollars to do XYZ.” Every guy in the world understands what kind of conversation I’m talking about.
lol we had this convo on a vegas trip. my rich friends coundt understand how long it takes a regular person to make a million. 5 minutes of work for a million. im down.
Ay mijo!!! 
F* Bitcoin! I hate it! I hope the government makes it illegal to transact, own, purchase, lend, gift or exchange bitcoin. 
and F* all cryptos too! 
Have you seen how many there are?
you are welcome. roughly 2 t in total. 50% is with bitcoin.
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I can’t wait for does trillions to evaporate the same way sulfer does when you eat asparagus.
Even the mayor of Miami is glossing right over the skill VE luck debate. I think he’s on record saying that he would have looked like a genius if the city would have “bought in when he initially proposed”.
Whole world has become BSD economists.
more like astronomers
TO THE MOON
What is skill ve luck?
I love all the Boomer energy and envy from the Nay-Sayers in this thread.
“Not for me” I get, but the hate is comical. Crypto isn’t going anywhere, whether you like it or not.
I mean, it’s highly liquid and the main coins/tokens have had a pretty impressive y-o-y growth compared to any other asset, so what’s not to like? You also can take negative views on main crypto names through easily tradable synthetic short positions offered as DeFi tokens - so short sellers can try to profit from perceived bubbles now. It’s a quickly developing sector where the only serious missing piece in my opinion is what future regulation will look like. It’s very exciting and folks are killing it in crypto right now - particularly in yield farming imho. Just don’t try to day trade it, the volatility and whale moves/manipulation can kill you… it’s like a highly liquid unregulated penny stock market at this moment. But that’s part of what is exciting about it too.
The VC and seed financing opportunities available through crypto are very good right now also, for tech startups.
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Does being a “boomer” (translation: GenXer) immediately dismiss one’s observations of how the monetary system has evolved over thousands of years? Wait, wait, I get it… stop me if you’ve heard this one before…”this time it’s different.” Right?
If you want to say that you can make money in crypto, I cannot disagree. But if you want to call it an “investment,” it belongs in the art and collectible coins category.
Funny how everyone “investing” in Bitcoin all have the same endgame — convert the inflated coin into USD or your home currency of choice. Interesting, since the endgame should be to indefinitely stay in Bitcoin, if that’s where all payments are headed. But at the end of the day, most are hoping to convert to a real currency before the music stops.
Fun fact: 195 countries in the world. Slightly fewer national or regional currencies in existence. Depending on the estimates, there are something like 8,000-13,000 cryptocurrencies currently in existence, with more garbage coins entering the market daily. Which will be the standard-bearer? Which will ultimately “win?” So much for simplifying the global payment system.
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I don’t know if it’s any more “funny” than currency traders or commodity traders having the end-game of converting gains back into their home currency for profit, versus say taking delivery of thousands of pounds of pork belly or coffee to store in their basements.
I also don’t necessarily believe start-up hype that they are “changing the world” through their software or .com offering. That doesn’t mean they aren’t adding value and/or aren’t worth investing in.
You missed my point though. Aren’t the crypto enthusiasts after a single incorruptible currency, outside of the purported wickedness and controlling puppet strings of the Fed and other central bankers?
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Nope, didn’t miss your point – I just don’t agree with it.
You’re conflating “crypto enthusiasts” with “crypto utopianists”. The latter probably do believe something along the lines of what you’re suggesting, but that’s only a small minority when compared to “crypto enthusiasts”.
Moreover, even crypto utiopianists aren’t so easy to pin down as your broad-brush is making it out to be, because different crypto currencies have different aims and purposes, most of which are not trying to replace the existing financial system as much as make certain parts of it more efficient, or to create new purposes entirely that don’t exist today.
But hey, instead of yelling at clouds, like @graybeard was saying, you can put your money where your mouth is an make bets against crypto, and if you’re right then you stand to make millions of real dollars when the whole system collapses as you and your fellow Boomers think it will.
What is the best trade to make an active bet against crypto, in your opinion?
There are a number of ways, but Futures or inverse tokens are two good ways of doing it.
I’ve held my BTC for 4 years and will hold for at least 11 more, vs other coins I move in and out of on the reg. So if you’re right then part of your profit will be coming from the BTC I’m holding. Good luck and happy shorting!
What is your Bitcoin thesis for that timeframe, if I might ask? You seem very confident.
Ironically, despite Warren Buffet calling bitcoin rat poison squared, I’m following his advice of buying it and pretending like the trading window closes for years. I just told myself when I bought it that no matter what happens I’ll hold it for 15 years and see where it is at that point, and save myself any angst over when to sell.
Not so much confidence as taking a long term bet on what I saw as a new emerging investment class a few years ago, and which so far on paper at least has paid off.
And in case you want more coins to short, I’ve also been buying ETH, BNB, Solana, Axie Infinity, and most recently EverGrow. So far I’ve done well in all of them but I guess we’ll see if my thesis holds up or if your Boomer naysayer view wins out in the end.