Bitcoin

[MountainTracker]

MGX, an Abu Dhabi sovereign wealth fund, invests $2 billion in Binance for a minority stake. The transaction will be 100% in crypto (stablecoins), marking it the largest investment transaction done in crypto to date. This is also the first institutional investment Binance has taken.

https://www.binance.com/en/blog/ecosystem/mgx-backs-binance-in-landmark-investment-6242106085221073480?hl=en

We don’t talk about it in this thread but if folks aren’t paying attention to AI they are going to get blindsided by what it’s going to do, and the jobs it will replace. Nations are investing in AI heavily.


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[Kroezer54]

I bought a million units of some meme-coin once. It was fun while it last, but ultimately, I should have spent the money on gun stuff, haha.

It's gambling, pure and simple

 

[ODB]

Doesn’t the widespread acceptance of bitcoin mean it will became much more sedate and act like a regular currency where those states/countries who use it will want stability and that means all the rollercoaster and glutting come to an end?

 

[fmyth]

Doesn’t the widespread acceptance of bitcoin mean it will became much more sedate and act like a regular currency where those states/countries who use it will want stability and that means all the rollercoaster and glutting come to an end?

Bitcoin is a digital commodity not a currency.

 

[fmyth]

I bought a million units of some meme-coin once. It was fun while it last, but ultimately, I should have spent the money on gun stuff, haha.

It's gambling, pure and simple

Meme coins are like Pokiemon cards. Bitcoin is a 15 year old 2 trillion dollar digital commodity with no issuer and a fixed supply.

 

[ODB]

Bitcoin is a digital commodity not a currency.

Still. Are governments relying on it in any way going to be Ok with 25k swings ?

 

[fmyth]

Still. Are governments relying on it in any way going to be Ok with 25k swings ?

The Strategic Bitcoin Reserve will be holding Bitcoin not trading it. Over the last 15 years there is no other investment that has higher returns.

 

[fmyth]

Bit Bonds. The most likely way for the US to refinance its current debt at a lower interest rate and acquire Bitcoin at the same time. Could potentially save the US Government up to 700 billion dollars in interest. Americans could purchase these bonds and all gains would be tax free.

Bit Bonds in a nutshell:- 90% goes to government funding, 10% to buying bitcoin- 1% interest annually for 10 years- 100% of BTC upside paid up to 4.5% compounded annual return- Remaining BTC upside split 50/50 with the government.

https://twitter.com/x/status/1899854549726171407

 

[fmyth]

 

[ozyclint]

The fixed supply is the difference. No matter how many BTC's the US possesses they cannot change the supply and f*ck the rest of us.

To think we had a monetary system like that already. Gold.

How long until governments issue their own crypto's 'backed' by BTC? Issue their own crypto which is easier to transact with and deemed by their decree to be the new system for legal trade.

Then issue more of it then there is BTC to back it.

Governments aren't going to suddenly tie themselves to a system that doesn't allow them to deficit spend.

 

[Historybuff]

To think we had a monetary system like that already. Gold.

How long until governments issue their own crypto's 'backed' by BTC? Issue their own crypto which is easier to transact with and deemed by their decree to be the new system for legal trade.

Then issue more of it then there is BTC to back it.

Governments aren't going to suddenly tie themselves to a system that doesn't allow them to deficit spend.

We didn't have a monetary system like bitcoin with gold. Bitcoin is superior to gold in more ways than one. Bitcoin is becoming the global monatary system and people ignore it haha. All will bend a knee to bitcoin. I don't have time to explain it but you might want to get some

 

[fmyth]

To think we had a monetary system like that already. Gold.

How long until governments issue their own crypto's 'backed' by BTC? Issue their own crypto which is easier to transact with and deemed by their decree to be the new system for legal trade.

Then issue more of it then there is BTC to back it.

Governments aren't going to suddenly tie themselves to a system that doesn't allow them to deficit spend.

When the price of gold goes up mining activity goes up and the supply increases. There is no limit to the supply of gold. Bitcoin has a hard limit of 21 million units. The United States just implemented a Strategic Bitcoin Reserve. It the very near future they will begin purchasing more Bitcoin to add to the reserve. Other G20 Nations will follow and the price will increase exponentially.

 

[MuleyFever]

When the price of gold goes up mining activity goes up and the supply increases. There is no limit to the supply of gold. Bitcoin has a hard limit of 21 million units.

That hard limit doesnt actually mean anything. BTC isn't a real thing. It's a digital asset. The masses can just as easily as they decided BTC is worth something, decide its not. They can just as easily move to a new asset.

 

[MountainTracker]

That hard limit doesnt actually mean anything. BTC isn't a real thing. It's a digital asset. The masses can just as easily as they decided BTC is worth something, decide its not. They can just as easily move to a new asset.

You’re right they could, let’s not forget who set into motion coming off the gold standard, it wasn’t the masses, and yet they seemed to move to the new system.


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[fmyth]

That hard limit doesnt actually mean anything. BTC isn't a real thing. It's a digital asset. The masses can just as easily as they decided BTC is worth something, decide its not. They can just as easily move to a new asset.

No asset in history has grown from 0 to 2 trillion dollars and then disappeared. Bitcoin has been here for 15 years and has now been determined by our Federal Government to be a digital commodity. Blackrock, the largest most successful asset management firm on Earth has purchased $47,760,536,081 worth of Bitcoin. I'm sure you are a swell guy with lots of knowledge on investing but I'm going with Larry Fink on this one.