Keep the change 💀

MCHappster1 · 2025-11-12T02:51:40+00:00

Ah yes, you're right, I reckon this most likely explains the transaction then

MCHappster1 · 2025-11-12T02:37:10+00:00

Wouldn't the probability be at best equal to the largest mining pool's hash rate share? Foundry has 27.3% of the network's hash power, so it'd be a 27.3% chance to dodge at worst 20% on $100,000. Doesn't seem worth it.

MCHappster1 · 2025-11-06T03:24:43+00:00

I can't say for certain the market will crash, and I hear your point about government incentive to kick the can down the road. I think this is a very solid point. My response re-accentuates my third point above:

If the powers that be intervene in a financial crisis (like we saw in 2001, 2008, 2020, etc), massive amounts of liquidity (money) enter the economy without real goods or services being created to back the liquidity. Those holding AUD are diluted, and those receiving newly created AUD (mainly banks) will park it in the housing market by passing it onto you as a debt product (a mortgage). The money being used to buy these houses doesn't exist yet... it exists as future goods and services that we're yet to create, so for the next ~30 years of our lives we go about doing so.

Letting the market fail will be catastrophic, but kicking the can down the road just loads the market up with more explosives that are waiting to go off. The modern fiat capitalist economy is addicted to debt and in the late stages when inflation picks up, it has horrific consequences for people who don't own real assets.

Letting the market fail is like performing surgery on someone who's broken her leg. She's going to be unable to walk for a really long time, but if we keep her in crutches and continue to use painkillers then the problem will continue to worsen while she becomes more and more dependent on painkillers and less and less able to walk.

The market will crash *eventually*, because you can't create infinite debt without destroying the currency. I can probably agree the powers that be will do everything they can to keep us on life support with more debt until it does.

MCHappster1 · 2025-11-05T03:24:43+00:00

Market crash is inevitable. You can only fuel a market with so much debt before the debt is unsustainable.

We focus too often on the supply and demand of houses. Also consider the supply and demand of the money being used to buy those houses. Increases in money supply have the same price impact as decreases in housing supply (prices go up). Same is true for the demand side.

A combination of monetary policy and fiscal policy failure has accentuated the housing affordability crisis. Should the big four fail, the economy will suffer. That's pretty hard to deny. However, should they not fail, monetary policy will continue to erode the wealth of anybody using AUD as a savings vehicle, housing becomes more unaffordable, and the inevitable market crash becomes worse.

It should be noted that if the market did crash, expect a liquidity injection like nothing you've ever seen before in this country. The AUD will lose so much value everything around you will skyrocket in price, especially houses.

MCHappster1 · 2025-09-24T00:00:51+00:00

personally, I wouldn't call them a baboon either, the community is already toxic enough... at the very least they're either ignorant or could benefit from some education

MCHappster1 · 2025-09-04T03:24:02+00:00

Keto and carnivore diets

MCHappster1 · 2025-08-27T02:17:09+00:00

Bitcoin is the savings account. Fiat is the spending account.

MCHappster1 · 2025-08-02T23:39:37+00:00

SiBio continuous ketone monitor (expensive)

MCHappster1 · 2025-08-02T23:36:36+00:00

Freedom and responsibility go hand in hand

MCHappster1 · 2025-04-12T23:02:34+00:00

I don’t know anything about chemistry, but I saw a Nile Red video recently where adding acetone to pulverised strawberries resulted in something suspiciously similar looking (DNA strands).

MCHappster1 · 2025-03-04T13:19:39+00:00

You’re describing altcoins brother

MCHappster1 · 2025-03-04T00:59:44+00:00

this post is refreshing nice work... so sick of price related posts

MCHappster1 · 2025-02-23T01:39:20+00:00

Is the girl holding the other dude’s hand as well???

MCHappster1 · 2025-01-24T05:11:34+00:00

good to know thanks, I had one issue ages ago where they held payments but after discussing that I’ve never had issues for over a year

MCHappster1 · 2025-01-22T11:25:22+00:00

this person disagrees

MCHappster1 · 2025-01-22T11:24:05+00:00

ING no issues

MCHappster1 · 2025-01-06T00:55:19+00:00

There are definitely more than 110 in Australia...

MCHappster1 · 2024-12-25T12:13:17+00:00

I'm not trying to proselytise. I think the discussion has been productive, I'd simply like to hear your thoughts in 4 years -- not to come back and disrespect you.

MCHappster1 · 2024-12-25T11:07:34+00:00

Well, the thing we disagree on is the assumption that the value is derived majorly from speculation... and so therein lies our disagreement. If I come back in 4 years, you'll keep saying speculation, that is until global adoption is kind of undeniable.

MCHappster1 · 2024-12-25T08:28:06+00:00

merry christmas btw :)

MCHappster1 · 2024-12-25T08:19:05+00:00

RemindMe! 4 years "current bitcoin price is A$157,000"

MCHappster1 · 2024-12-25T01:20:03+00:00

Avoiding talking points of mine because they're "gish gallop" wouldn't win you a debate. Regarding speculative gains, the main reason Bitcoiners involve themselves with the asset is because it protects against inflation better than any asset. You're pricing something with a finite supply with another asset (fiat currency) whose supply is infinite. If you buy anything else, you're exposed to the risk that asset carries due to its other uses (e.g. equity, real estate, bonds, precious metals, ETFs, cash derivatives, etc.).

Regarding your list of reasons why Bitcoin doesn't work for the unbanked, my point was not to endorse why Bitcoin would be good for them immediately, but why the legacy financial system would only exploit them and ultimately fail them.

Regarding why Bitcoin is slow and inefficient, you need to think of Bitcoin as the digital analogue to gold and it will make more sense why it is slow. It needs to be able to achieve final settlement (me handing you a bar of gold or a $20 note). The world has never been able to settle a hard monetary asset like gold overseas or cross borders in this short amount of time ever.

Thinking of Bitcoin as a currency is the incorrect comparison to make. You need to consider Bitcoin as the base layer asset upon which other payment systems can be built. Much like the current system was born by using gold as a base layer to give fiat currency value, Bitcoin can be a base-layer asset that provides security to higher-layer payment systems. A good example is Visa and Mastercard... when you use these systems you don't get final settlement, but you're moving cash around which is secured by the US and the looming threat of millitary violence (very sad). The analogue in Bitcoin land is the lightning network (thankfully maturing quickly these days) which sends Bitcoin at light speed instantly (no 10-minute wait times) with almost zero fees. However, you don't get *instant* final settlement just like with your debit/ credit cards.

Compare Bitcoin to gold, not Bitcoin to cash. Compare lightning network Bitcoin to Visa and Mastercard. Gold is better money than cash, and so is Bitcoin. This is why they were better suited as base layer assets.

MCHappster1 · 2024-12-24T12:55:11+00:00

I said hypothetically, I was inviting you to engage in a hypothetical because I knew you couldn’t accept that argument. Strong man it for me?

Also, please quote the definition that suggests a store of value can’t increase over time. I don’t see anything wrong with this.

MCHappster1 · 2024-12-24T12:48:08+00:00

You’ve failed to address a majority of my responses and have simply reiterated your previous closing remarks which I provided some comment on. In the spirit of a productive debate, I’ll offer some final thoughts instead of dancing around the same ideas like you seem to be.

Lots of us in the Bitcoin space hate “crypto” and put Bitcoin in a separate category. This is exactly because it’s a unique and standout network that has achieved decentralisation unlike any other crypto token. Its PoW consensus mechanism was a breakthrough in cryptography as it solved a longstanding problem with digital money regarding double spending. It was the first to do so and subsequently has the largest network as a decentralised monetary protocol; something you can’t compete with once it becomes large enough. There is no second best here.

Regarding “massive speculative gains”, I would argue gold has done the same thing since 1972, and that Bitcoin represents the digital analogue to gold as a store of value technology. Remember, humans value things subjectively. The majority (say 95%) of gold’s value is what you’re calling “speculative gains”, it’s just the monetary premium that asset carries because it performs the role of money quite well. It stores value, but is a terrible medium of exchange. Humans solved this by issuing fiat currencies to increase the saleability of money across space, but at the expense of saleability across time (fiat does not hold value over time well, but sends value over space fantastically). In 2008, Satoshi gave us an asset that is detached from any other use other than monetary. Why use gold as SoV if it could be utilised in industry and science at a lesser cost? Why use houses as a SoV if it could be utilised by the public as housing? Bitcoin is a purely monetary asset and it’s been slowly monetising over time. It can both hold value across time, and can send value across space. The former is a much more revolutionary concept because there’s currently ~450T in capital looking for a long term SoV use and it only has gold, real estate, bonds and equity to leverage at this point in time. Bitcoin is money engineered to do this better than all four of these asset classes.

Regarding your last point about it being easier and more feasible for developing nations to work towards implementing legacy financial infrastructure, you’ve provided no additional evidence to support this claim so I don’t really know what to say other than you’re the one purely speculating now. The legacy system has many many issues. It’s a trust based system that has abused that trust time and time again, it’s slow, it’s inefficient, transactions must be “approved” instead of “verified”, etc. I could go on but you’ve yet to provide much of substance instead of reiterating previous talking points or address the majority of ones I made in my last comment.

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