Sci/Tech Official Bitcoin to infinity ♾️ thread

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B

Bungee up

Active Member
Jun 25, 2022
215
196
I actually think I might have to right a book to explain this.
I thought it would be fairly obvious but it probably isn't. Especially considering the brainwashing.
It'd be called " you can't create something from nothing ".
Or " hang time was debunked on mythbusters "
 
J

Jamie999

Well-Known Member
Aug 13, 2024
448
442
Bungee up said:
I need you to understand that you can't have a hard cap currency and lend money that doesn't exist without creating it
Click to expand...
Or course you can. You're forgetting (or intentionally leaving out) circulation. Every time money circulates is opportunity to redistribute it including opportunities for interest and lending.
 
SiLVa_ABCTT

SiLVa_ABCTT

Active Member
Aug 13, 2024
137
129
Bungee up said:
I haven't even gotten into how gold has been mined for thousands of years and wages stayed the same
For hundreds and hundreds and hundreds of years
Despite the "mining of gold". At the rate of roughly 2% per year .
Usery was forbidden.

There's so much I could go on about to explain my Pont with fractional reserve banking ect. But that's not prescient
I need you to understand that you can't have a hard cap currency and lend money that doesn't exist without creating it
Click to expand...
You speak in a lot of absolutes that don’t necessarily jive with the reality of the situation. I’m not an economist by any means, nor am I a banker but there are plenty of bankers and economists that do believe debt and credit will still exist on a Bitcoin standard. You can do a search online for more perspectives on this, unfortunately it’s not something I can really speak to but it’s not as impossible as you make it seem.
 
SiLVa_ABCTT

SiLVa_ABCTT

Active Member
Aug 13, 2024
137
129
Bushkill Blades said:
So this thread just turned into arguing?
Click to expand...
I hope not. But Bitcoin triggers some people sometimes. Not sure why that happens but it does. I think because it’s a very niche topic and a lot of people have preconceived notions or opinions that don’t always align with a Bitcoin outlook. Or they just don’t get it.
I’m trying to answer questions I think I can answer but I can admit I don’t have all the answers. Only offering my perspective as I see it based on what information I think is valid to the discussion.
 
B

Bungee up

Active Member
Jun 25, 2022
215
196
Jamie999 said:
Or course you can. You're forgetting (or intentionally leaving out) circulation. Every time money circulates is opportunity to redistribute it including opportunities for interest and lending.
Click to expand...
I'm definitely not.
You can't give out all these 30 year loans ( an extreme example) on compound interest where your paying back the principal + 5 or 10x and not expect a massive contraction in circulation.
Even if the banks weren't operating on a fractional reserve system this would still happen.
The same can be said for derivatives trading as well.

Anyway. If I still haven't made my point clearly, and I feel like I probably haven't then that's on me.
I'm definitely at the point where I've derailed this thread enough so that's the last thing I'm going to say about it.
 
B

Bungee up

Active Member
Jun 25, 2022
215
196
SiLVa_ABCTT said:
I hope not. But Bitcoin triggers some people sometimes.
Click to expand...
It triggers me because I want it to be real so bad.
I'm sick of my children's earnings being stolen through inflation
The fucking government prints money out their ass , spends it like a gold digger with 2.5 bottles of wine in em and a credit card from their sugga daddy.
Meanwhile the same faggots doing the spending are nickling and dimming everyone for every cent of their income tax. Not to mention the tax they put on everything else.
Sales tax.
Property tax.
Capital gains tax.
Wealth tax.
Estate tax.
Inport tax
Export tax
Consumption tax
Gasoline tax
Registration tax.
Councile fees and approvals.
Tolls
Fines.
I'm sure I'm missing a whole lot.

I don't think crypto can fix any of that.
( oh yeah. Tax on crypto transactions).
It appeals to me more when I think about it how you it used to be able to use it to by drugs and not much else.
I'm sure Ross Ulrich would agree. Hope he gets pardoned in January.
 
Last edited:
J

Jamie999

Well-Known Member
Aug 13, 2024
448
442
Bungee up said:
It triggers me because I want it to be real so bad.
I'm sick of my children's earnings being stolen through inflation
The fucking government prints money out their ass , spends it like a gold digger with 2.5 bottles of wine in em and a credit card from their sugga daddy.
Meanwhile the same faggots doing the spending are nickling and dimming everyone for every cent of their income tax. Not to mention the tax they put on everything else.
Sales tax.
Property tax.
Capital gains tax.
Wealth tax.
Estate tax.
Inport tax
Export tax
Consumption tax
Gasoline tax
Registration tax.
Councile fees and approvals.
Tolls
Fines.
I'm sure I'm missing a whole lot.

I don't think crypto can fix any of that.
( oh yeah. Tax on crypto transactions).
It appeals to me more when I think about it how you it used to be able to use it to by drugs and not much else.
I'm sure Ross Ulrich would agree. Hope he gets pardoned in January.
Click to expand...
Real estate and stock market are fairly good inflation hedges.

What can you do about taxes? Move, not even joking. A few dozen desirable tax havens out there. That's about all you can do.

You can maintain a second residence in USA if you want to (assuming you're American) but just make sure you don't trigger tax residency. Unless you make millions you won't have to pay any taxes in the USA (except maybe property taxes and sales taxes if you keep a second residence there but you can try and live somewhere where these are low).
 
SiLVa_ABCTT

SiLVa_ABCTT

Active Member
Aug 13, 2024
137
129
Bungee up said:
It triggers me because I want it to be real so bad.
I'm sick of my children's earnings being stolen through inflation
The fucking government prints money out their ass , spends it like a gold digger with 2.5 bottles of wine in em and a credit card from their sugga daddy.
Meanwhile the same faggots doing the spending are nickling and dimming everyone for every cent of their income tax. Not to mention the tax they put on everything else.
Sales tax.
Property tax.
Capital gains tax.
Wealth tax.
Estate tax.
Inport tax
Export tax
Consumption tax
Gasoline tax
Registration tax.
Councile fees and approvals.
Tolls
Fines.
I'm sure I'm missing a whole lot.

I don't think crypto can fix any of that.
( oh yeah. Tax on crypto transactions).
It appeals to me more when I think about it how you it used to be able to use it to by drugs and not much else.
I'm sure Ross Ulrich would agree. Hope he gets pardoned in January.
Click to expand...
It’s Bitcoin that fixes it, if anything. Not crypto.
The government overprinting should be easy enough reason to hedge against inflation. It’s funny how all the Bitcoin haters were laughing at us in 2022, a down year when Bitcoin was trading sideways, saying “Oh look, see? Bitcoin isn’t actually a hedge against inflation” but where are they now?
Cherry picking a short time frame is always used to criticize Bitcoin and Bitcoin holders but when price is on the rise these same people are either quiet or saying the same old dumb “it’s just a Ponzi scheme” nonsense. To me it just proves how early we still are in all this.
It’s always been a better hedge against inflation than ANYTHING else.
Is there anything else that’s better at preserving your money and buying power long term?
The answer is a resounding HELL NO.
As EVERYTHING gets more expensive in dollars, it’s amazing that EVERYTHING gets cheaper in Bitcoin.
When you make the switch it becomes pretty clear. Break free from the real Ponzi- the U.S. dollar.
Anyone can wax poetic about what Bitcoin will do in the future and how things will be in the next 10-20 years but the fact remains that our money is broken now and has been.
I see nothing wrong with trading some dollars to save at least a small percentage of savings in a better money.
 
Last edited:
Hauler

Hauler

Been fallin so long it's like gravitys gone
Feb 3, 2016
48,764
60,782
Market down huge today.
And so is bitcoin.

If bitcoin is independent of the US dollar, why does its movements often mirror that of the market?

Legit question as this has always puzzled me.
 
SiLVa_ABCTT

SiLVa_ABCTT

Active Member
Aug 13, 2024
137
129
Hauler said:
Market down huge today.
And so is bitcoin.

If bitcoin is independent of the US dollar, why does its movements often mirror that of the market?

Legit question as this has always puzzled me.
Click to expand...
Down huge is a bit of an over statement.
This is nothing.
It is independent of the dollar. But it’s still in the same market.
This time of year a lot of people sell off some stocks and other assets for tax-loss harvesting purposes.
With Bitcoin and crypto, people can buy back in after the 1st of the year. Which you will see a bump back up happening soon.
 
B

Bungee up

Active Member
Jun 25, 2022
215
196
My guy.
I'm not trying to be cynical.
Fuk. I hate gold.
The best property of gold is the government's can't fuck with it.( in theory)
I guarantee they ( the bank's) are selling gold that dosent exist- to keep the price down)
Bitcoin is a ponzi scheme.
It literally relies on mew investors to buy in to increase the value of it.
I could live with that compromise.
Except its inexorably tied to the dollar to assign it value.
Tell me what a bitcoin will be worth and how it's value will be me measured if not for shit ass fiat which we both despise.

It's not a hard currency at all.
It value is based entirely on everything it proports to exalt.
It dose nothing to reduce inflation, debt , taxes.
The one thing it dose do is rely on investors to drive the price up.
Hardest currency my ass. I couldn't think of a weeker currency.
Your gripe with all fiat currency's is that they are based on nothing and are worthless made up bullshit.
Bitcoin depends on that very thing to be worth anything.!!!
It's totally reliant on something we both hate to have any value whatsoever.

It can't be sound money when it relies on fiat for value ????
 
SiLVa_ABCTT

SiLVa_ABCTT

Active Member
Aug 13, 2024
137
129
Bungee up said:
My guy.
I'm not trying to be cynical.
Fuk. I hate gold.
The best property of gold is the government's can't fuck with it.( in theory)
I guarantee they ( the bank's) are selling gold that dosent exist- to keep the price down)
Bitcoin is a ponzi scheme.
It literally relies on mew investors to buy in to increase the value of it.
I could live with that compromise.
Except its inexorably tied to the dollar to assign it value.
Tell me what a bitcoin will be worth and how it's value will be me measured if not for shit ass fiat which we both despise.

It's not a hard currency at all.
It value is based entirely on everything it proports to exalt.
It dose nothing to reduce inflation, debt , taxes.
The one thing it dose do is rely on investors to drive the price up.
Hardest currency my ass. I couldn't think of a weeker currency.
Your gripe with all fiat currency's is that they are based on nothing and are worthless made up bullshit.
Bitcoin depends on that very thing to be worth anything.!!!
It's totally reliant on something we both hate to have any value whatsoever.

It can't be sound money when it relies on fiat for value ????
Click to expand...
😂
I’m not arguing with you.
Because you might be retarded.
When you and others call it a Ponzi, you show everyone that you don’t know what a Ponzi scheme is.
Bitcoin doesn’t rely on dollars to have value. It has inherent value based on its properties, which you don’t seem to understand.
You think it relies on dollars because that’s just what you, being in the U.S., denominate in.
I’m seriously tired of disputing 8 year old mainstream financial talking points on Bitcoin at this stage that have already been debunked and proven wrong.
If you don’t get it, cool. It’s not for you.
But you’re not helping anyone by repeating shit that has been said on CNN and FOX that’s just incorrect and misleading.
 
B

Bungee up

Active Member
Jun 25, 2022
215
196
SiLVa_ABCTT said:
😂
I’m not arguing with you.
Because you might be retarded.
When you and others call it a Ponzi, you show everyone that you don’t know what a Ponzi scheme is.
Bitcoin doesn’t rely on dollars to have value. It has inherent value based on its properties, which you don’t seem to understand.
You think it relies on dollars because that’s just what you, being in the U.S., denominate in.
I’m seriously tired of disputing 8 year old mainstream financial talking points on Bitcoin at this stage that have already been debunked and proven wrong.
If you don’t get it, cool. It’s not for you.
But you’re not helping anyone by repeating shit that has been said on CNN and FOX that’s just incorrect and misleading.
Click to expand...
I'm not might be, I'm definitely retarded.
 
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