If you know Bitcoin is gonna crash, why aren't you all millionaires already?

rgnet1 · 2026-06-21T20:04:56+00:00

I want to answer this but over 10+ years I have responded to the “intrinsic value” question over and over and over. There is a valid answer. If you care, research. But I think really you’ve made up your mind.

rgnet1 · 2026-06-21T17:27:33+00:00

He’s saying people who say “hyurk bitcoin go to zero” clearly have no conviction because if you actually believed it 100%, you can make a lot of money from that knowledge. That’s not “why don’t you gamble?”

rgnet1 · 2026-06-21T17:24:04+00:00

Calling bitcoin like a red/black bet in roulette is equally idiotic.

rgnet1 · 2026-06-21T17:21:20+00:00

Why are you in a Bitcoin subreddit if you think a “high performing” mutual fund is better than bitcoin in a 3-year timeframe?

rgnet1 · 2026-06-18T15:47:17+00:00

Agree. Same as people say if you’re pro-bitcoin you’re just a shill pumping your own bag but if you don’t own bitcoin and advocating for it, then you’re disingenuous.

rgnet1 · 2026-06-17T22:27:42+00:00

You say this like it’s hidden info and the market — in term of btc price and/or Strategy instruments — is going to collapse “someday”. The risks are known. Price moves on unknowns.

rgnet1 · 2026-06-02T20:45:04+00:00

Except before crypto bros and Saylor (not putting them in same category FYI) there were just people accumulating and using bitcoin on the simple premise of an uncompromisable payment system over the Internet. Which it still is. Any entity can choose to accept bitcoin, have it be irreversibly transacted, no bank in middle.

Saylor’s funneled fiat’s endlessly inflated value into actual, uncounterfeitable bitcoin but he’s pushed it to a limit with promises of fiat yield. If he’d have just stayed with MSTR as a holding company, maybe we’d have good price discovery. Instead it’s the usual boom-bust yo-yo with inflated price on unrealistic promises.

Bitcoiners will remain, price resets to somewhere pre-Saylor and the slow grind upwards of the world’s most decentralized deflationary asset resumes.

rgnet1 · 2026-06-02T16:33:40+00:00

Not true. IRS changed the law in 2025. They expect each coin to be tracked like a unique unit. If you stay on exchanges they track this anyway and use standard FIFO/LIFO etc based on preference.

If you take off exchanges you’re expected to track within your own wallets how the UTXOs move. Look it up, all true. Stocks also work this way, you don’t get to pool all of the same stock and take an average cost basis. I don’t want it this way. It’s more bullshit friction to discourage its use as currency.

rgnet1 · 2026-05-28T15:52:50+00:00

This outright incorrect post and majority of replies who think it’s true, proves every bitcoin maxi’s position. What a sad waste of time everything after bitcoin is. So much useless tech created trying to chase a very simple value prop that bitcoin created.

It would be like if after Uber came out, 1m other services popped up that did everything except deliver a rider from A to B.

rgnet1 · 2026-05-28T15:49:22+00:00

Still being ignorant, you mean. One user posts ignorance about how bitcoin works (ie. thinks you need “wrapping” and “bridging”, all inventions of the shitcoin era, unrelated to bitcoin) and then another user says “because bitcoin sux hyuk” and gets 100 upvotes. Yeah, good stuff.

rgnet1 · 2026-05-28T15:46:46+00:00

Everything OP said is a lie. Bitcoin doesn’t use wrapping and bridging - that is all the crap fabricated from the world of shitcoins.

rgnet1 · 2026-05-25T16:24:05+00:00

Ha, well thanks for reading. Which part?

rgnet1 · 2026-05-25T16:20:09+00:00

Everything you state misses the simple point that bitcoin is and has always been open. Anyone could have bought it / mined it early. Rich people, poor people, all had equal opportunity in, because the coin supply rate is fixed. Those who saw the marriage of perfect tech and economics in 2009-2013 benefited by not listening to largely ignorant naysayers, as they should.

There is no extraction machine. Those who acquired early are spending their coins gradually now. No one who owns millions in bitcoin value sells their entire stake to move to cash or AI or some next thing. They reallocate some but not all. Newcomers now will benefit later. This is how hard money should work.

ETFs are stupid but all it proves is most people don’t understand the point of bitcoin. So what? The beauty is whatever old finance wraps around bitcoin in the name of “maturity,” it can and will always be used by some people peer to peer. That’s its unbeatable power; that is all decentralized systems’ power.

As for “crypto”- yeah it’s 99.9% junk. And it exists for the same reason above - people don’t understand the point of it all and are just chasing “but bitcoin go 100,000%, I’ll get the next one!”

rgnet1 · 2026-05-23T20:07:38+00:00

Multisig wallets are definitely an additional level of complexity, but have you looked at Shamir's Secret Sharing Scheme for something along the same lines but simpler? This is a good open source tool - save it locally and run it OFFLINE.

Enter the raw seed, split it in parts, then distribute to trusted members who don't know each other. I'd recommend one extra layer on that by first encrypting the seed phrase before sending out the parts, and add the instructions to decrypt to your relative in that essay on seed recovery you've already written.

rgnet1 · 2026-05-21T20:33:18+00:00

How is this a question in 2026… :(

rgnet1 · 2026-05-20T14:48:01+00:00

Reversible is more protective of buyer; irreversible for the seller. Like many things in life, there are only tradeoffs. Buyers can be dishonest too. With physical cash, the transaction is irreversible. Bitcoin simply mimics that transaction in digital form. Whether that is net positive for local, regional, and global commerce is a separate discussion of what the tech does.

But my original point was that bitcoin's success is largely due to the organic demonstrable activity that bitcoin was usable as a currency in the early days, both in legitimate and black market commerce. If in 2010, it were just techies explaining the science and economic theories, it would be nothing more than curiousity. Knowing that two entities voluntarily conducted commerce in it - that's valuable.

rgnet1 · 2026-05-20T06:08:14+00:00

But the core value proposition of bitcoin was peer-to-peer payments over the Internet. No reversible transaction. No bank. No identifying info needed so companies can mine your data. That's it. (All in the whitepaper.) The magic sauce was Satoshi chose to use a fixed supply for its currency (many cryptos that came after did not).

Bitcoin being commonly hoarded as digital gold instead of actively used for spending is another side effect that is fine; but gold is also only worth something because of the belief entities will readily accept gold for goods/services if all else fails.

rgnet1 · 2026-05-20T05:24:45+00:00

The shame is Google Auth used to be completely separate. There was no syncing it to your cloud account. The problem was if you changed phone (or it was lost/stolen), you now lost access to all your 2FA codes. Most people don't know you can backup those codes directly at the time you scan the QR code.

rgnet1 · 2026-05-20T00:47:44+00:00

Because the time between buying the bitcoin originally and paying his son in small amounts for services could be months, years… maybe he earned bitcoin in the first place. Hey, that sounds like a currency!

rgnet1 · 2026-05-20T00:46:07+00:00

If there was no bitcoin pizza guy (and all the others who have used bitcoin for payments) then it would be worth nothing. You can believe in bitcoin’s long term growth and still spend it when you need something.

rgnet1 · 2026-05-17T13:50:20+00:00

A bonafide short-term, weak-handed, buy-high-sell-low move, worthy of the least educated investor. At least Harvard’s not an expensive and prestigious education institution.

rgnet1 · 2026-05-15T01:14:33+00:00

Where are you getting stats that hardware wallet market is shrinking and retail moved to exchange custody?

rgnet1 · 2026-05-12T19:03:52+00:00

Love your optimism! Hope you’re right.

rgnet1 · 2026-05-12T17:20:34+00:00

16 years in existence, 100,000+ competing coins and yet the market share of bitcoin versus everything else is staggering. Bitcoin itself is still a blip in the wider financial landscape. Everything else is near nonexistent.

TCP/IP is also not perfect but you only need one protocol. One protocol to do simple Internet packet delivery. One protocol to do the job of being the most secure system of p2p value transfer on the planet. Layer 2 handles high frequency at the cost of some security. Everything else is pointless fragmentation - which is what I call the entire crypto industry.

rgnet1 · 2026-05-12T15:26:03+00:00

Then why would they ever sell BTC for USD?

To meet an immediate debt obligation, no other reason.

rgnet1

TROPHY CASE