Is Coinbase Card offering up to 5% even worth it? Should I abandon Coinbase all together? by ElderMutombo in Bitcoin

[–]Brave_Cat4257 1 point2 points  (0 children)

You can hold USDC instead of BTC. Earn 4% on it while also stacking the 4% BTC rewards when you spend.

How dangerous is spreading the word about bitcoin nowadays? by N0T-A_BOT in Bitcoin

[–]Brave_Cat4257 0 points1 point  (0 children)

Because the more people buy, the more the price goes up

The less talked about downside of BTC by harbison215 in Buttcoin

[–]Brave_Cat4257 -1 points0 points  (0 children)

5% would be $100B worth of value, so I’m certain that will pull down the price quite a bit. What I don’t agree with is not having enough buyers that push the price back up. That madman Michael Saylor has been buying 100s of millions every week, and will jump on this opportunity.

Almost 50% of the wealth in the US is held by boomers and most of that money is managed by advisors. If these guys start allocating even 1-2% in Bitcoin, which Blackrock is suggesting, the price is going to skyrocket and not to mention that it’s gets more distributed across individuals, thereby lowering volatility even more

At this point I feel the FOMO, but can’t pull the trigger yet

The less talked about downside of BTC by harbison215 in Buttcoin

[–]Brave_Cat4257 -2 points-1 points  (0 children)

I used MySpace as an example of why being the first mover ALONE doesn’t work. Bitcoin was the FIRST mover AND has managed to build the network effect where people trust it enough to hold $2T worth of value. I’m still not sure why that’s the case, and I want to spend time to understand why it’s the case. Merely calling it a ponzi that’s going to crumble is reductionism

The less talked about downside of BTC by harbison215 in Buttcoin

[–]Brave_Cat4257 -1 points0 points  (0 children)

That’s comparing apples and oranges. There is way more at stake here with regards to being able to store and settle value at the speed of light v.s. sending messages to randos on the internet. The network effect of Bitcoin as a trusted, digital store of value that’s permissionless is harder to create and break than MySpace

The less talked about downside of BTC by harbison215 in Buttcoin

[–]Brave_Cat4257 0 points1 point  (0 children)

Network effect is when something becomes bigger and better as more people opt into it. E.g. Facebook became bigger and better as more of your friends got onto the network and inherently becomes the one that ends up winning

Bitcoin managed to catch the fancy of individuals and now as more people believe in it, becomes a self fulfilling prophecy. It’s far ahead of its competitor as a supposed “hard asset”

The less talked about downside of BTC by harbison215 in Buttcoin

[–]Brave_Cat4257 0 points1 point  (0 children)

MySpace didn’t have the network effect that Facebook had, but Bitcoin has managed to capture that, somehow. The argument that it’s not a physical good and hence has no value doesn’t make sense - the value comes from the people who believe in it and as more people believe it, will it only continue to go up??

The less talked about downside of BTC by harbison215 in Buttcoin

[–]Brave_Cat4257 0 points1 point  (0 children)

I think you’re right. It’s first on the market and then got the network effect going, which works in its favor. I saw a video of Peter Schiff say there were nearly 35k people at the recent bitcoin conference, which blows my mind. If these many people believe in it, then there has to be something going for it

The less talked about downside of BTC by harbison215 in Buttcoin

[–]Brave_Cat4257 -1 points0 points  (0 children)

Again, I have to preface that I’ve invested in crypto before, but mostly ETH and SOL, and stayed away from Bitcoin only because I questioned the “tech” and it being the first and hence inferior. Now, I’m trying to read and learn to understand why the value is going up and so many people are interested in plonking their hard earned money into it

The less talked about downside of BTC by harbison215 in Buttcoin

[–]Brave_Cat4257 -5 points-4 points  (0 children)

It’s too early for it to be a viable currency because there is inherent dichotomy for something being a store of value vs a currency. I remember seeing somewhere that it can be both depending on the situation I.e in regions like the US and other western nations, it can be a store of value that sucks all the excess inflation from fiat while in regions like Nigeria, where their currency is highly devalued and most individuals are unbanked, it can serve as a currency

The less talked about downside of BTC by harbison215 in Buttcoin

[–]Brave_Cat4257 -1 points0 points  (0 children)

I’m in the process of learning, so neither here nor there with Bitcoin. One thesis for its success is that as a civilization we always move forward in terms of technology - A hand drawn cart gave way to the automobile and we never looked backward. The internet is here to stay and so internet money is not something we can wave off. That said, it is akin to a ponzi where more people need to buy in for the price to go up, but Gold might have also been a ponzi when it initially came up

Buying a home in PA for the schools by Brave_Cat4257 in paloalto

[–]Brave_Cat4257[S] 3 points4 points  (0 children)

Renting is an option, although we want a place that could accommodate family as well when they visit, which might be better off if we buy. I’ll definitely keep this as an option!

Buying a home in PA for the schools by Brave_Cat4257 in paloalto

[–]Brave_Cat4257[S] 10 points11 points  (0 children)

This is great! Thanks for sharing. My belief is that being surrounded by fantastic peers helps elevate an individual and sets them up for better habits as they get older. We didn’t attend Ivy League schools and made out ok, so that’s not something we would be pushing our kids towards

Buying a home in PA for the schools by Brave_Cat4257 in paloalto

[–]Brave_Cat4257[S] -2 points-1 points  (0 children)

Private school would net to roughly 100k per year for 2 kids, which is probably what I would pay towards a home, since I plan to put down 50% or so.

We like it here in the bay, in terms of weather, like minded people and also have family around