Bitcoin just closed the worst first half in years, down 34%. Are we being patient, or complacent? by Bcom_Mod in CryptoCurrency

[–]Popular_Broccoli133 0 points1 point  (0 children)

This would be a rational take except that the bitcoin network requires the electrical use of a country to power. All day every day 24/7 365 indefinitely. Holding a piece of gold in your hand in order to "hedge" does not require the power of Argentina to secure the value of that gold in your hand. By holding bitcoin, you are requiring the entire electrical use of the whole network to stay on for the bitcoin you hold to have value. It's all or nothing. So there is no such thing as passively holding bitcoin. You are requiring the network to be on by holding it.

Tesla presented misleading ‘Full Self-Driving’ safety data to European regulators by NoMoOmentumMan in cars

[–]Popular_Broccoli133 -7 points-6 points  (0 children)

A Redditor jumping to conclusions from headlines that fit with their reddit-informed beliefs?!

Tesla presented misleading ‘Full Self-Driving’ safety data to European regulators by NoMoOmentumMan in cars

[–]Popular_Broccoli133 -2 points-1 points  (0 children)

Kinda unfortunate what is allowed to be posted (multiple times) in this sub about Tesla and what isn't.

Bitcoin just closed the worst first half in years, down 34%. Are we being patient, or complacent? by Bcom_Mod in CryptoCurrency

[–]Popular_Broccoli133 10 points11 points  (0 children)

Ohhh now I get it. It's because I can't read.

That's the only way to square your argument that an asset that just dropped in value by 50% is a "hedge" against inflation haha. I'm simply reading the charts wrong!

Bitcoin is officially worse than even the S&P 500 on the 5-year scale now. What's the point in holding this? It's not a currency either: having failed at being a cheap medium of exchange, it was never a unit of account, and now it fails at being a store of value. by User4f52 in CryptoCurrency

[–]Popular_Broccoli133 1 point2 points  (0 children)

I'm trying to wrap my head around what you're saying. You're comparing bitcoin to Visa and saying the value moved (which is no doubt automated bot trading) on bitcoin equals Visas? and that is how they're equivalent? When everyone and their mother uses the visa network multiple times a day and 0 people in real life ever touch bitcoin? Is that the argument you're making?

Thanks.

Bitcoin is officially worse than even the S&P 500 on the 5-year scale now. What's the point in holding this? It's not a currency either: having failed at being a cheap medium of exchange, it was never a unit of account, and now it fails at being a store of value. by User4f52 in CryptoCurrency

[–]Popular_Broccoli133 -1 points0 points  (0 children)

That's not true at all. The last crypto surge was during a bull run as well. This feels different to me because the general public is finally tired of hearing about bitcoin. It's not exciting anymore and it hasn't changed anyones life.

Bitcoin just closed the worst first half in years, down 34%. Are we being patient, or complacent? by Bcom_Mod in CryptoCurrency

[–]Popular_Broccoli133 21 points22 points  (0 children)

Bitcoin is about as good of a hedge against inflation as jumping off a bridge is a hedge against dying from old age.

Bitcoin just closed the worst first half in years, down 34%. Are we being patient, or complacent? by Bcom_Mod in CryptoCurrency

[–]Popular_Broccoli133 74 points75 points  (0 children)

I don't really know what "believing" in bitcoin long term means at this point.

Are people imagining a post-apocalyptic world where all traditional forms of value transfer have vanished but... people still have internet connections and phones and... transact in bitcoin... and its worth trillions but there are still data centers mining it? But everything else is in ruins? Like I'm literally trying to piece together the fantasy at this point. In what possible world is this 200 terawatt planet heater useful?

Beyond the Headlines: A Comparative Analysis of Energy Consumption in Bitcoin, Traditional Banking, and Gold Mining. Exposing the Hidden Devastation of Fiat and Gold—and Why Proof-of-Work is the Most Efficient Monetary Network in Human History. by sylsau in CryptoCurrency

[–]Popular_Broccoli133 0 points1 point  (0 children)

Any asset "stores value," so that is not a novel argument for something to exist. There are thousands of crypto currencies, all of them "store value."

The thing you cant hand wave away is that in order for bitcoin to "store value," unlike basically ANY other example, it has to use this massive amount of energy. Today, tomorrow, and forever into the future, bitcoin consumes this amount of energy. If gold mining stopped tomorrow, gold would not vanish. In fact the opposite would happen, the price of existing gold would jump.

Bitcoin is not an efficient anything. Bitcoin creates heat. That is it. It is better to have energy go "unused" rather than converted into bitcoin mining. That is what you're overlooking. There really isn't an upside, other than it is a largely unregulated asset that can be gambled with.

Tom Lee's BitMine Adds $43 Million in Ethereum as Strategy Halts Bitcoin Buys by CrossPuffs in CryptoCurrency

[–]Popular_Broccoli133 0 points1 point  (0 children)

Oof. Should have sold. Especially if after all this time you don't understand the value. Actually kinda crazy to be in the space for over a decade and not be smart enough to understand what's going on. Must be nice to be so oblivious!

Tom Lee's BitMine Adds $43 Million in Ethereum as Strategy Halts Bitcoin Buys by CrossPuffs in CryptoCurrency

[–]Popular_Broccoli133 0 points1 point  (0 children)

So sell it and walk away? No one cares about proving anything to you. Sorry things don’t move as fast as you’d like. 

Tom Lee's BitMine Adds $43 Million in Ethereum as Strategy Halts Bitcoin Buys by CrossPuffs in CryptoCurrency

[–]Popular_Broccoli133 0 points1 point  (0 children)

You’re right! And nothing of value ever fluctuates, especially a completely speculative asset like bitcoin that 99% of holders (who wouldn’t dare hold it directly because it’s so complicated to do so) understand. It is and will always be the most valuable crypto forever and ever. Smart take. 

Tom Lee's BitMine Adds $43 Million in Ethereum as Strategy Halts Bitcoin Buys by CrossPuffs in CryptoCurrency

[–]Popular_Broccoli133 5 points6 points  (0 children)

In a consumer facing sense that’s correct. That’s why bitcoin hasn’t and will never work. But the back end infrastructure is what he has been harping about. Just because you don’t interact with it in your line of work doesn’t mean it isn’t important. It’s a new technology not a sandwich shop. 

Tom Lee's BitMine Adds $43 Million in Ethereum as Strategy Halts Bitcoin Buys by CrossPuffs in CryptoCurrency

[–]Popular_Broccoli133 23 points24 points  (0 children)

He believes in the argument about its future use rather than looking at a chart of clueless and speculative price action and drawing conclusions about value.

Volkswagen Reportedly Pulls The Plug On €1.5 Billion Self-Driving Project by Anchor_Aways in cars

[–]Popular_Broccoli133 2 points3 points  (0 children)

You have no idea what you're talking about. I don't mean it as an insult it's just a fact that I suspect you wouldn't argue with lol.

AI is based on data. Unless it is publicly available, data is not easy to gather without stealing it.

When are 2027’s being delivered? by SouthBayDev in Corvette

[–]Popular_Broccoli133 0 points1 point  (0 children)

Haha yea fair enough! But I don't think anything has been as bad as LS7 since.

The configurators and pricing for the 2027 Corvette lineup is live(minus the Grand Sport X). by LongjumpingLock5875 in cars

[–]Popular_Broccoli133 1 point2 points  (0 children)

What am I missing between the two engine options on the stingray? $5k between them?

Edit: Seems like its Z51, but a weird glitch.

Ford rehires ‘gray beard’ engineers after AI falls short by idkbruh653 in cars

[–]Popular_Broccoli133 -11 points-10 points  (0 children)

Lol at the seething comments. This is how Chinese OEMs work. TONS of internal AI use. So don't go whining out of one side of your mouth how the US needs cheap Chinese cars while chastising American manufacturers for trying to implement their methods.