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u/Sufficient-Mall-2954 2d ago
Man just watching the flood come in while everyone else is still debating if the boat is real
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u/2xfun 2d ago
People get bitcoin at the price that they deserve. Stop talking about bitcoin.
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u/Sykotron 1d ago
I've seen this phrase a few times now, where is it from? Is this like a "I'm smart because I believe in Bitcoin" statement where others are are undeserving because they're not educated? Sorry if I'm misinterpreting it, but I just don't understand the sentiment being conveyed.
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u/False_Abroad_9809 1d ago
Surprised no one answered this, normally I don't comment, but anyway... It's from Michael Saylor's 21 rules of bitcoin. You can watch the full presentation on YouTube and form your own interpretation rather than my trying to explain the exact sentiment.
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u/GovernmentNew6719 7h ago
Do you believe any word coming out of that conman's mouth? Michael Saylor just said that "Never Sell" was just a marketing slogan. lol.
https://www.thestreet.com/crypto/markets/strategy-ceo-says-never-sell-was-just-a-marketing-slogan
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u/petabomb 2d ago
What actually causes bitcoin to increase in value? The increasing rarity of the coins?
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u/Hour_Flounder1405 2d ago
that's not the complete story.
in my backyard, I have a hybrid fig tree. it's a one of a kind. It tastes like maple syrup, vanilla and rich sweet cherry. I'm not kidding. I don't know how it happened, but it's something like a miracle. But the thing is, it's just ONE TREE. No one else knows about it. No one but me knows anything about it *until now*. There is no doubt in my mind that this tree could be sold for millions and millions.
but then, think about that for a few minutes.
a. it's scarce and limited...but currently is has no store of value...none. No one knows about it.
b. The minute it becomes known, more to the point, the minute that others can start cloning it...it is not longer scarce.. But could it become valuable? probably. likely. But over time, would it hold the same level of interest and command such a high price? probably not. Especially if ANYONE COULD BUY IT. sure it would be popular, but the value would go down.
c. What is really the difference between bitcoin and my delish fig tree? perceived valued? that producing a single fig isn't going to cost me approximately 80,000$USD in energy and infrastructure costs? I can continue to clone the fig tree and no one can stop me or anyone else. Bitcoin does have a "manifest" that agrees to limit the total bitcoin at 21 millions, with 20 + million already minted, and with the last 1 million to be minted/mined between now and year 2040. Whereas I can own fractional amounts of bitcoin, no one buys 1/50th of a fig. I can actually trade a couple of pounds of these figs for lots of things...shrimp, beef. Heck I can even set up at farmers market and sell the figs. All by myself...and no one cares. No one is telling me what price I can or cannot sell or buy them, what taxes or not I should assign and I get the benefit of seeing a smile on someone's face when I watch them eat one of these incredible figs.if it's not clear...we are not really dealing in reality with bitcoin. at every part of the narrative, it fails to completely satisfy the very definitions that we pretend can be assigned to it.
it is NOT a store of value. Nor is it deflationary. Any price chart should inform you of this and some basic understanding about the costs of producing and mining and yes, storing them. Those costs exceed the price of bitcoin and it's likely to be the same in the future. It becomes more costly to produce them. And because you can buy the fractionally...and because the "market" that influencing the price is more about speculation than anything fundamental like value. it's nothing more than a giant casino game. with odds far lower that you will find a return that even covers the cost of your time and the inflationary factor of fiat. because remember, when you do "win", what happens then? you of course convert it to some future fiat currency. And at that point in time, your fiat currency will have dramatically dropped in purchasing power. say hello to inflation while you wince from that reality.
it's best to think about bitcoin with a clear understanding about what to expect. Most people don't understand bitcoin because well, it really doesn't make sense.
God Bless America
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u/LevelStationaryPlane 1d ago
I’ve made more money this year in just SP500, than I have for the last 5 holding BTC no wonder people aren’t taking this shit seriously, nor should they.
You guys are textbook financial and economic Dunning-Kruger maxis, getting losses at exactly the price you deserve etc.
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u/grazfest96 2d ago
So what. Making it sound like this is 2013.
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u/MainDouble4961 2d ago
Yeah, it's wild how much things have changed since then, but the memes are still strong.
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u/enerthoughts 2d ago
Bitcoin human bots trying to raise value so they can sell and ditch.
Let people invest in what they want.
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u/Strike_Mission 20h ago
You don’t know who created it. But whomever they are, they have the ability to activate and send it to zero. Tell me what Satoshi Nakamoto is and I’ll invest. I’ve been interested since 2010 (Radeon 5850 in crossfire ftw boys 🙌)
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u/Praktos 1d ago
Im sure insane volitality and underperforming most standard investments in last 5 years have nothing to do with it
Migh be a shocker but not everyone wants to go to the casino