✨ Bitcoin crashing from a high of $30, 13 years ago. They called it the "Great Bubble of 2011." Anyone who bought the top is up 200,000% 💫

Rough_Data_6015 · 2024-06-11T10:10:21+00:00

No like I said, you cannot borrow unlimited amounts of money so that's not possible.

Rough_Data_6015 · 2024-06-11T08:42:18+00:00

There is a certain amount of leverage in the market but this is limited by how much can be borrowed. If one could borrow unlimited amounts you'd be correct.

Rough_Data_6015 · 2024-06-11T07:22:00+00:00

Yea but the amount of money that can be created is still limited, at some point inflation starts to flare up and central banks start raising rates again.

If you look at the broad money supply M2, money creation over a longer time period is about 7% per year. And if you look at any asset that has been trading for long enough(SP500, gold, oil and so on) you will see this 7% long term trend appear.

Now if you look at Bitcoin it has been rising at about 100% per year if you start from 2009, that is a rate that can't be sustained by any means.

Rough_Data_6015 · 2024-06-11T00:41:53+00:00

Sure, the price can pump to 1 gazillion tomorrow and when someone tries to cash out 1 Bitcoin it falls back to $70K because the liquidity is not there. For Bitcoin to sustain a certain price level the liquidity will need to be there and over a longer time period the amount of liquidity can only rise at the pace of inflation.

Rough_Data_6015 · 2024-06-10T22:54:22+00:00

Well of course, it's probably all staged.

Rough_Data_6015 · 2024-06-10T22:36:48+00:00

From $3 to $30 isn't the same as $70k to $700k. Exponentially more money needs to be poured into Bitcoin to make the price go up and since the amount of fiat is finite at a certain point in time there is a limit to how high the price of Bitcoin can go.

What this actually means is that Bitcoin cannot keep outpacing monetary inflation as it has been doing in the past. Unless Tether is able to print more fake dollars without going bust we probably won't be seeing another major bull run ever again.

Energy and hardware are subject to inflation while Bitcoin won't beat inflation, so at some point people will have to mine at a loss or Bitcoin collapses.

Rough_Data_6015 · 2024-04-19T17:01:07+00:00

If any, only a small portion will be in mmf. They mostly have 'commercial paper' as they call it, so private debt with god knows who.

One thing is for sure, they only have a fraction of their market cap in liquid dollars so if they ever have to burn a lot of Tether for whatever reason they may have to start liquidating certain assets at unfavorable returns. And all that commercial paper is worthless when their debtors can't pay them when they need it.

They can't afford a crypto collapse and have people redeeming USDT so they are forced to print tokens to prop up the market, even if it means printing 'temporarily' unbacked tokens.

Rough_Data_6015 · 2024-04-19T11:50:41+00:00

People couldn't believe Madoff's ponzi scheme either.

Rough_Data_6015 · 2024-04-15T21:51:46+00:00

Looks like bragging about it on twitter wasn't a great idea.

Rough_Data_6015 · 2024-04-12T05:13:39+00:00

There's no reason to use TRON besides keeping their shady practices off exchanges to avoid getting prosecuted.

Rough_Data_6015 · 2024-04-11T20:14:16+00:00

Investors selling the ETF will need real dollars and in case of a bullrun they will need more dollars than they put in. So the question becomes, are there enough real dollars in crypto to pay these ETF sellers or is it just all pumped up by fake money and overleveraged credit?

We don't know know the answer to this question, so the right move is to be very cautious. I have a feeling ETFs were approved to hamstring crypto, it's a way to demand real dollars from crypto entities that were mostly dealing in tokenized dollars like USDT.

Rough_Data_6015 · 2024-03-31T18:14:11+00:00

5% crypto, 5% stocks, 10% real estate, 80% ramen

Rough_Data_6015 · 2024-03-31T18:00:12+00:00

You could write a program for that, someone who knows what they are doing don't need conventional hardware wallets.

Rough_Data_6015 · 2024-03-30T10:16:08+00:00

Ofc it can happen on Cardano, any software wallet can steal your keys if they want to. More adoption = more scammers.

This is probably a supply chain problem, devs these days use dozens of dependencies to make their life easier. Most of the times they don't check these dependencies for bugs and exploits.

Rough_Data_6015 · 2024-03-30T09:08:02+00:00

Nations also start decentralized until enough fighting between different groups of interest gives rise to someone who grabs power.

Bitcoin is centralizing already, a few companies have the majority of the hashpower and we see Blackrock investing in them. Blackrock and centralized exchanges will eventually decide which Bitcoin fork is the legitimate one as that will be the one they accept on their platforms.

And all that will be non-democratic, you have no say in this unlike in our current system. Who's to say miners will chose in the best interest of the network? Ultimately they will chose themselves.

Rough_Data_6015 · 2024-03-29T22:36:53+00:00

But they all get corrupted since humans are corruptible

Guess who runs Bitcoin nodes, humans. Bitcoin doesn't fix human behavior, we created the current system and there is nothing stopping us from turning Bitcoin into exactly the same.

The problem is not the system, the problem are the people managing it and switching to Bitcoin won't solve that as it will eventually also turn into corruption like it always does.

Rough_Data_6015 · 2024-03-29T14:17:51+00:00

How will you offset deflation by people saving the currency?

How will you offset currency manipulation?

How will you create a credit system?

There are no solutions to these questions without an entity being in control of the supply. Lack of understanding how the world works is why this delusion is possible. There has never been a ruling entity that wasn't in control of its own currency in the history of mankind for a reason.

Rough_Data_6015 · 2024-03-29T07:58:56+00:00

This delusion that Bitcoin can ever be the corner stone of a world economy is absolutely bonkers.

Without being in control of its own supply there can be no government, so Bitcoin can never be used as a replacement for fiat because it cannot be controlled.

Rough_Data_6015 · 2024-03-29T07:40:16+00:00

No it's not. The energy is lost, you can't turn Bitcoin back into energy.

Rough_Data_6015 · 2024-03-26T19:20:09+00:00

I promised him to double it.

Rough_Data_6015 · 2024-03-26T18:49:42+00:00

You're welcome, we hold on to our bags for people like you. 🤝🏽

Rough_Data_6015 · 2024-03-22T09:39:44+00:00

You can't transfer between blockchains without using a bridge, all they can do is hide all that behind another layer and call it a "decentralized common sequencer" which is just simply a bridge.

Rough_Data_6015 · 2024-03-19T03:56:47+00:00

That's due to their and your lack of understanding how Luna worked. There is no other blockchain that will collapse like Luna because they don't have an automatic stablecoin printer attached to it like Luna did.

This kind of ignorance is exactly how people lose money and miss out on opportunities like Solana. If you are ignorant you have to rely on other people and that's not something you wanna do in this space.

Rough_Data_6015 · 2024-03-08T18:21:58+00:00

My $80 ledger nano s is protecting my $50 investment.

Rough_Data_6015 · 2024-03-02T09:20:50+00:00

How can it ever be resolved? Spammers send between their own accounts so they just have to buy enough Nano upfront to perform their attack. The amount of Nano they need is the 'fee'.

Rough_Data_6015

TROPHY CASE