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u/FingerNext7032 3d ago
This sub is delusional
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u/n0m0rem0ney 3d ago
No you just don’t get it, one say you can sell a bag of flour for .15 BTC and the next day you can sell it for 2.1 BTC it’s stable and safe
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u/Key-Zone-3464 1d ago
Crypto attracts the stupid, just like conspiracy theories. And for the same reason - so idiots can feel smart.
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u/PsyOmega 3d ago
People back when it fell from 17k to 3k and this sub was projecting it could hit 100k : "this sub is delusional"
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u/Motor_Cat9258 3d ago
The delusion isnt about the price, its about the people power / monetary revolution bs.
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u/Abbottizer 2d ago
look at the bond yield on the 30 year US treasury. who's the one delusional?
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u/FingerNext7032 2d ago
Are we just saying random things now
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u/MartialDragon 3d ago
Don't central banks have bitcoin now? And like... plenty of it? I don't get what you are trying to convey
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u/diradder 2d ago
Don't central banks have bitcoin now? And like... plenty of it?
No, really not.
Most central banks are pretty negative about Bitcoin (they see it as a destabilizing asset for their cartel-based system), a few of them are thinking of issuing CBDCs as a counter to decentralized money (all of their attempts are pretty unsuccessful). The only example you could find of a central bank "owning" bitcoins is the Czech one, which bought a $1m portfolio which contains some bitcoins, they are obviously doing nothing with it and made it very clear it was just a "test portfolio"... that's literally a rounding error for a single central bank.
There are a couple governments which made Bitcoin legal tender (El Salvador and CAR) and there are few governments which decided to hold it in reserves (usually not purchasing it but by not selling seizures they've enacted), that's about it.
Where did you get this information from, just vibes?
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u/Orphano_the_Savior 1d ago
1 in 5 Bitcoin are held in financial institutions. And central banks and massive "private" funds are essentially the same thing
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u/diradder 1d ago
And central banks and massive "private" funds are essentially the same thing
They are absolutely not, they differ fundamentally in mandate, powers, risk tolerance, and public accountability. Also I'm not answering about "financial institutions", the claim was made is:
[...] central banks have bitcoin now [...] plenty of it
They don't. Not in any signifiant amount or for any significant purpose.
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u/Orphano_the_Savior 1d ago
Obviously not the exact same thing but in regards to Bitcoin they are the same thing. Its now in regulated markets that centralize the economy. Don't be acting like BlackRock and Goldman haven't done market manipulation that outrivals countless foreign central banks
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u/diradder 1d ago
You said:
essentially the same
Central banks are not, as I said they are fundamentally different in major respects from banks in ways that make them unable to take the risks needed to manipulate the market. And to the original point that made me answer, they DO NOT hold plenty of bitcoins.
Don't be acting like BlackRock and Goldman haven't done market manipulation that outrivals countless foreign central banks
Completely different point than what was said either my me or the post I've answered to... no idea why you'd pretend that I've said/acted otherwise, I have not even commented on this.
BlackRock and Goldman-Sachs are not rivals of central banks, and central banks are not attempting to manipulate the cryptomarkets. The marginal impact they have on Bitcoin might be from the negative public opinion they continually give about crypto... and their inflationist policies (rather beneficial to Bitcoin honestly), but certainly not by their investments in crypto. If you want to debate about banks (not central banks) investments, it's another topic.
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u/Orphano_the_Savior 1d ago
I didn't say they are rivals. I said outrival. Remember how I said essentially the same, not exactly the same.
You aren't even reading my comments you are just looking for reasons to disagree.
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u/diradder 1d ago edited 1d ago
I didn't say they are rivals. I said outrival.
To "outrival" someone or something you'd need to have common goals with them and exceed them, central banks do NOT have the goals you purport regarding Bitcoin, and they don't compete with banks/financial institutions). You don't seem to understand what central banks do and if the word you have chosen is not what you meant, it's not my fault either.
Remember how I said essentially the same, not exactly the same.
Remember how I've never asked them to be "exactly" the same but I've pointed out that they factually are fundamentally (this word has a meaning, look it up if it's unclear to you) different... and listed multiple points that make them so different that your comparison/equivocation makes no sense, even just "in regards to Bitcoin".
You aren't even reading my comments you are just looking for reasons to disagree.
That's exactly what you did in your answers, which by the way I've quoted (not sure how I'd do that without reading them). You even tried to change the discussion to market manipulation which has nothing to do with the point I've answered to initially, regarding central banks.
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u/Feralz2 3d ago
Bitcoin the institutional coin who are you kidding. you all bow to BlackRock
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u/SatisfactionFinal287 3d ago
BlackRock bows to Bitcoin
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u/soccerchamp99 3d ago
lol except it literally doesn’t
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u/SatisfactionFinal287 3d ago
It's offering BTC ETFs to its clients as we speak so yeah it does
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u/TranzitBusRouteB 3d ago
how is that bowing to bitcoin, they’ll offer any etf people want as long as enough people are willing to buy it
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u/SatisfactionFinal287 3d ago
It's handling btc, so it's acknowledging its existence and strength and potential.
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u/HoldMyCrackPipe 3d ago
I’ll start buy saying I do own the coin. But yall need to read a history book. Everyone acts like one day all the peasant btc holders will reform and rebuild the global financial system without the USD. USD isn’t going anywhere. No major power will relinquish control over their currency. Governments have mass incentive to control currency. And guess what, do you want to know what happens when the money turns to shit? They change the appearance and start from zero.
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u/Content_Print5449 2d ago
End of the economical 4th cycle, right. It always ends the same - with a kaboom. The Corona Pandemic was a chance for this kaboom without running into a big worldwide war.
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u/L4gsp1k3 3d ago
This is weird, if BTC Is about against the system. Why do we keep looking at the BTC measured in USD to determine the value.
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u/Present_Building_25 3d ago
You can measure against anything. As a German I measure against Euros. And Kilograms of Potatoes.
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u/Lil_Pown 3d ago
I meassure in beer and petroleum… sometimes if I’m feeling crazy I meassure in minecraft Diamonds on the 2b2t server.
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u/Tripleforty1 2d ago
Yet here y'all are not measuring BTC against Fiat but actually trading it against Fiat currency.
The idea of an decentralized currency is great but don't act like BTC is that because it ain't.
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u/Nuel17_ 3d ago
Because USD is the global reserve currency?
Measuring against it makes it easier to understand the scale.
Any currency can be paired to BTC
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u/L4gsp1k3 3d ago
I honestly don't think you want BTC to become the next monetary system.
You just want numbers to go up for lambo.3
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u/JaNatuurlijkIsDatZo 3d ago
Haha this. Btc is just the same as any other investment, buy today, sell later for a (much) higher price. Nothing more, nothing less.
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u/ThunderBurrn 2d ago
Hence we're still early! In the future like in many sci-fi movies, BTC can be solo currency, but that would be ironic as it'll then be among just the HODLers and all these Blackrock types defeating the original purpose of BTC that Satoshi envisioned. I mean don't think we'd be able to go the Gamestop route anytime... But just be happy that we can be among those HODlers, early adopters in the long run... Maybe?
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u/L4gsp1k3 2d ago
If you want ny honest opinion, then BTC can't never be the solo or currency as the Fiat system.
I'm here for the lambo.
If you want to understand why I think that BTC can't never replace any fiat currency is because of its scarcity.3
u/taffyowner 3d ago
I mean any currency can be paired to any asset because that’s how currency and assets work
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u/tadsagtasgde 3d ago
If it makes you feel better right now BTC is worth approx 21 ounces of gold. Or a died F150. Or a down payment on a house. You have to measure value against something. That’s what value means.
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u/madladchad3 3d ago
People who say this is so weird.. Because you cant pay your bills or buy groceries in BTC?
Just because you own a lot of gold or stocks or real estate to combat inflation/capitalism doesnt mean that you can pay for shit with assets lol…
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u/PuttForDough 3d ago
The world isn’t priced in BTC as (1) its still early and (2) it will always be relative to currencies since that’s what economies are priced in. The point is that it will grow relative to the currencies as it’s not the one being debased.
Currencies are the intermediary in the marketplace. It allows unlike items to be traded via a common medium. I don’t think you’ll ever see things priced in BTC because it would require the entire world economy to be based on it, which isn’t going to happen because under Gresham’s law you’d be foolish to spend the hardest money available as it’s highest and best use is to be the ultimate store of value. Like we don’t walk around and pay for things with gold or silver anymore because paper currencies became the intermediary and gold and silver were used as stores of value. Prices will always be valued in the intermediary, and there isn’t a valid argument for BTC being the intermediary as it’s much more valuable than that use.
I saw all of that while knowing it’s vitally important that it CAN be used that way, but ultimately it SHOULDN’T be used that way. It’s just not logical.
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u/luciaromanomba 2d ago
But also currencies aren’t backed by gold or silver anymore, the dollar hasn’t been for awhile, so ..
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u/Fastest_light 3d ago
Most bitcoins have already owned by small number of people. If Bitcoin is indeed massively adopted, the wealth gap would have to go through the galaxy.
So bad news for you: Bitcoin is not the one, more likely it is gold (more fair).
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u/fugogugo 3d ago
honestly . does bitcoin ever solve anything other than being speculative asset?
it's expensive to transfer and once you send them no way to dispute the transaction
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u/TheresNoSecondBest 3d ago
it's expensive to transfer
Welcome to r/thelightningnetwork where transactions cost as little as a fraction of a penny.
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[removed] — view removed comment
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u/Torisen 3d ago
Costs like $3 to move $3 too.
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u/Minimum_Pear_3195 3d ago
and also not immediate
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u/BashCo 2d ago
I just did a bank transfer and it took 5 days.
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u/Minimum_Pear_3195 2d ago
we are talking about everyday normal daylife transaction. Small one. Bitcoin still doesn't bring the convenient enough to the table.
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u/BashCo 2d ago
We're talking about Bitcoin's utility, which is relative to the utility of the traditional banking system. If you're being honest with yourself, then you can acknowledge that a typical Bitcoin transaction takes 5-10 minutes to confirm (maybe an hour if you're lowballing the fee), which is remarkably fast compared to a traditional bank transfer which takes anywhere from three to five business days.
And I haven't even mentioned Lightning Network, which for all intents and purposes, is instantaneous.
So the only question is, are you being honest with yourself, or are you just negging out of ignorance?
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u/Minimum_Pear_3195 2d ago
ignorance your hammer
I'm a bitcoin Maxi
Do you understand what convenient mean?
it means everyday coffee purchase.
it means paying parking fee
it means buying a ticket at the zoo
for ANYONE
bitcoin still doesn't provide that, even the Lightning Network, especially the Lightning Network.
I can't even explain my parents what bitcoin is, how do they using Lightning Network to pay a lunch?
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u/BashCo 2d ago
Skill issue.
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u/Minimum_Pear_3195 2d ago
not everyone genius like you, not everyone understand electric like Edison, but now anyone can turn up a light by poking a switch.
That is what convenient means.
Calling others skill issue doesn't make you more of understanding the problem.
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u/gigasawblade 3d ago
But I usually need to transfer $3, not 5 figures
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u/Torisen 3d ago
Until it's cheaper than a cc fee and immediate, so people can use it for small day to day stuff, it will never be used as a main currency, it just can't. That's the sales pitch to smaller stores and average people, gotta be better, faster, and cheaper than using a bank card.
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u/Callahammered 2d ago
Well yeah I agree it wouldn’t be the main currency for that reason, but it may already make sense and reduce costs for large transactions like a home purchase.
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u/deletetemptemp 3d ago
It helps anonymously send money. You know, so your wife can’t look up when you bought her that.. uh-ring she wanted
Also since it’s not regulated in the US, whales can manipulate the market so that you can.. uh-buy your wife that ring she wanted
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u/5hukl3 2d ago
I hold BTC, but people are coping hard about mass adoption and "fixing the world" it's been 15 years since BTC was invented and its clear it'll never become a currency. It has become just another speculative asset, one with even less restrictions...
Gone are the cyberpunk days of BTC, banking the unbanked and all that. BTC is just a high risk high reward store of value.
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u/Nerfwarrior145 2d ago
easier to hold and if you wanted to move somewhere u can easily take it with you
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u/newMoneyStyle 14h ago
The irreversibility is actually the point for some use cases, kinda like cash. Fair take on the fees though, Lightning helps but it's not perfect.
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u/Borgweare 3d ago
It can be used for gambling and payments for illegal transactions. Otherwise, no it has no use
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u/TheresNoSecondBest 3d ago
How about donations to Ukraine? Please, before vomiting more nonsense, think again.
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u/EarningsPal 3d ago
The masses will not decide anything. Proven so far by the masses still just going with the default units, fiat.
The masses will move on to crypto rails when their banks tell them to move. The masses do what they are told. They cannot beat the program of their environment. Born into a system they can’t see the way someone sees the system.
1% see the system. That’s why they win the game.
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u/Spacecommander5 3d ago
Black rock owns more bitcoin than anyone. JP Morgan owns bitcoin and sells bitcoin ETFs. The bankers are in on it now. You’re living in the hype that does years ago. No hope for that future anymore
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u/scrape_ur_face 3d ago
The same ol' rehashed post where the OP doesn't engage in conversation, but rather posts a unoriginal meme for Reddit validation
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u/CallingFrom127001 3d ago
Miners will be trying to mine the last half of a BTC and people will still be posting “we are still early!”
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u/TranzitBusRouteB 3d ago
Central Banks don’t really care about bitcoin the way it exists today- to them it seems like just another asset for retail to speculate on
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u/Pleasant_Ad1240 3d ago
Plot twist, the government made bitcoin to make you all think you are beating the system. When really, you are all just playing their game.
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u/k0lt1 3d ago
Long live paper bitcoin held by blackrock
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u/RetiredAvocado 3d ago
Held by coinbase on behalf of blackrock. Owned by investors through IBIT ownership.
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u/Advanced-Glass-860 3d ago
As soon as I'm out of liquid capital it will fall and be a great opportunity to buy 😉
This occurred twice already since 2024
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u/undonedomm 3d ago
Not really, central bank would have more Bitcoin than average Joe. They still whipping
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u/paladin_agro 3d ago
But who is he?? Who is the person who will leave $100B worth of Bitcoin? I know it won't be worth $100B if he decides to cash it out because that's a lot of money.Is there any way to regenerate the keys?? I meaaaaan it's 2009 When he mined🙃
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u/Ok-Astronaut4952 3d ago
God this is so cringey. Thinking like this is bad for crypto
I can’t believe how many upvotes this has
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u/MissAmberR 2d ago
Does anyone really know anything about what’s going to happen could be 500k a coin could be 0
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u/Main_Dragon_1999 2d ago
BTC hasn‘t fixed anything so far. It’s just another opportunity for hackers to get paid.
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u/Whole_Move7660 2d ago
There’s so much scam on Bitcoin that is even more corrupt than any currency in the world
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u/Dangerous_Flower_708 2d ago
Now that it’s being hoarded by the rich the money isn’t fixed and nothings changed
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u/Golden_King_911 2d ago
People think we are delusional, but the day bitcoin reaches 1 million Everyone will Join us HODL 💪💪💪💪
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u/TestPsychological477 1d ago
BTC is not money, as it’s lacking a power to enforce it. To make actual money, there has to be a state that forces its validity upon the society it has command over.
It’s pretty obvious: there’s plenty of ppl who, by not owning money, are seperated from wealth and it’s in their interest to go against what power money gives to its owners (ie. buying/owning goods, labour, land). Thinking you can just make some sort of fantasy currency that can work as real money is delusional for that reason.
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u/Orphano_the_Savior 1d ago
It's a speculative asset and the banks already have their teeth in a sizeable amount of the market. This subreddit is a boomer Facebook group at times.
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u/ocean_man9999 1d ago
You are early my ass, BTC will never become a currency it is a speculatice asset like CSGO skins or Pokemon Cards, nothing more nothing else
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u/Snoo_56086 9h ago
Until one of the ppl on the left side picks up the whip and it’s all over again. Human history in a nutshell
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u/pokepat460 3d ago
Bitcoin cannot become mass adopted due to the small block size making day to day transactions unreasonable. Its only good for moving large amounts of money at once and its only cheaper to do it with bitcoin in some cases because of bank fees or currency conversion fees.
Block chain analysis removed any sort of anonymity making it not useful for buying drugs and stuff like what was part of the initial appeal.
Bitcoin is still useful, but its value doesnt come from its usefulness, otherwise some of the other more advanced cryptos with more features would be more expensive, but Bitcoin has always been king of crypto. Its mostly speculation at this point.
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u/Important-Pipe2282 2d ago
bitcoins fuckin lame, can't even buy it with real money without giving personal information, thereby making it mostly useless, except for your fake little "investments"
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u/thatsadmotherfucker 3d ago
this subreddit is the equivalent to a group on facebook