This is why Bitcoin maxis are ultimately delusional. They think the world revolves around them and, no matter what happens, they will always be at the top.
Just as a friendly reminder, if you bought any major crypto when Matt Damon told you “Fortune favors the brave”, you’re still technically down on your initial purchase.
This is probably the media trying to get some bags pumped.
No, this is the bitcoin halving event coming up in April 2024 and also the Jan announcement of ETFs in USA which open the door to institutional investment.
The graph of the price of bitcoin has been going up exponentially since it launched. Every four years starting one year before the halving event it shoots up for a year and then falls:
The ETF angle makes no sense to me. An ETF is designed to be based against a basket of securities. A bitcoin ETF seems really pointless. Why not just gamble on the token itself?
I see this as a means to sucker more retail cash in and have the early adopters of Bitcoin hoover it up.
For the record, my statement as of right now is still true. Remember that Bitcoin peaked at nearly 69k a piece and it’s currently at around $42k a piece.
>An ETF is designed to be based against a basket of securities. A bitcoin ETF seems really pointless. Why not just gamble on the token itself?
Dunno, maybe you should ask State Street Global Advisors[1] or Blackrock[2] why they have gold ETFs, when investors could just gamble on the yellow stuff itself.
You can't just put BTC into your Roth IRA. You can, however, buy a Bitcoin ETF in your Roth IRA. Or SEP, SIMPLE, many 401(k)'s, Traditional IRA, or any other number of accounts that actually ARE covered by SIPC insurance (which your crypto wallet isn't).
There's a good chunk of money that for regulatory reasons CAN'T touch it until it hits this structure.
I can’t imagine why I would want to purchase BTC on a vehicle intended for retirement savings. This is absolutely asinine to me and I see so many people losing their shirts and could be rife with abuse. If people really want to, they can gamble their money away at Coinbase.
This is really feeling like tragedy of the commons and needing to find more ways to pull in real money into this system so whales can swim in their piles.
I never said entire retirement fund. Way to put words in my mouth. I mean having access to this at all is going to allow degenerate gamblers to have an avenue to spend on BTC and the contagion will spread further, like a self fulfilling prophecy.
Also, the halvening I imagine will be a very bad thing for miners, unless it’s guaranteed to double in price, miners are going to suddenly make less in value after the event occurs. Just because the halvening happened to behave a certain way in the past doesn’t guarantee future results.
>I never said entire retirement fund. Way to put words in my mouth. I mean having access to this at all is going to allow degenerate gamblers to have an avenue to spend on BTC and the contagion will spread further, like a self fulfilling prophecy.
You asked for good reasons why someone would put BTC in an IRA, and I gave you one. Whether or not "degenerate gamblers" would follow that advice is moving the goalposts. You can responsibly use your IRA to buy stocks as well, but that's irrespective of whether "degenerate gamblers" would abuse that.
>Also, the halvening I imagine will be a very bad thing for miners [...]
Are you replying to the wrong comment? I thought we were talking about IRAs?
For some reason, I am unable to reply to the original thread I was on and I need to start another one here. Probably too far down the tree?
At any rate, one consideration folks don’t seem to have for the halvening is the reduction in rewards for miners.
As mining becomes more expensive and transaction fees increase exponentially, I see more and more smaller miners dropping out of the pool as it becomes too expensive for them to operate (and we are in a high interest rate environment, so capital for borrowing is much more expensive to acquire). Then the miners that are left start to concentrate and potentially cause a security concern. It becomes too top heavy.
I’m not sure why alarm bells aren’t going off for Bitcoiners?
The fact that Bitcoin behaves like no other asset on the planet is precisely what makes it interesting, worth understanding, and if you can stomach the volatility over sizable stretches of time, worth owning.
This was true (although hard to understand back then) on January 3rd 2009, 18:15:05h UTC and still holds true 15 years later.
This is a very profound piece of wisdom. There are times where I dwell on how I should have invested my money a decade ago and wish I made different choices before hitting my mid 30s. Yet I have a lot to be thankful for now, despite my mistakes.
Don't beat yourself up. When i was in my mid-30's I had trouble wrapping my head around the fact that I had escaped the fate of every other member of my family: poverty, addiction, and early death. Compared to that, my investment decisions seem trivial.
But in all seriousness, Coinbase is not a particularly ethical company. I still won’t forgive them for how they pulled off the insider trading and boosting of Litecoin, which made Charlie Lee rich off the backs of the peanut gallery.
EDIT: for those with seemingly limited memories - Charlie Lee worked for Coinbase at one point, and was able to successfully get his shitcoin (which was basically a hastily tweaked bitcoin) accepted for off ramping to fiat. Sounds like a direct conflict of interest, and I’m surprised Coinbase wasn’t investigated for this.
You're getting downvoted, but your post is partially correct.
You missed the best part though. Charlie Lee sold all of his tokens at the top and then told everyone he sold the top, causing the top to not be so top any more.
Does anyone know if there is a quality map for where AT&T, Google Fiber, or Quantum Fiber services are available for the Phoenix Metro area? I’m trying desperately to get off of Cox, and am assessing my options on where to relocate to in the Valley (I currently live in East Mesa) but it seems like a real pain in the butt finding actual service easily. Any recommendations aside from searching one mailing address at a time?
I do wonder if we will see these chips available for purchase to install in standard form factor ATX style systems? This is something I haven’t seen Arm crack into yet.
I think ATX style machines are very niche. Gamers love them and 3D artsits, but outside of that I think no one wants them anymore. I think that ARM-compatibility for games in the near term is a hard sell (although Blender, Maya, Photoshop, Final Cut Pro have been ported to ARM for running on Apple chips.)
I think the market that NVIDIA should be chasing with the ARM CPUs + good GPUs is business machines. Our company is filled with very poor performing Window Surface devices - outside of those who insist on Macs this is what people get. Companies are spending a lot on these. And they desperately need better performance while also being cool with long battery life.
Nvidia should really be able to do both. Their integrated solutions like Orin scale up to a certain point, but the demand for modular compute is still enormous on the server side (and enthusiast market). Given that CUDA will support both going forward, I don't think there's a technical incentive to kill the market.
My guess is that Nvidia will have a line of mobile cores/chipsets for integrators that want them, while also offering PCI-enabled boards for gamers and enthusiasts. Even Apple can't outrun the demand for a PCI-enabled machine, and they don't even support eGPUs. Nvidia's incentive to abandon ATX (or at least modularity) is even slimmer.
I think you’re right about the class of device. MS can’t just treat ARM-based products the way it does now and make a leap in terms of end-user experience - wondering if this changes in the future.
