Bitcoin

Out of context: Reply #1919

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  • jonny_quest_lives-4

    "I don’t hate $BTC. However, in my view, the long term future is tenuous for decentralized crytpo in a world of legally violent, heartless centralized governments with #lifeblood interests in monopolies on currencies. In the short run anything is possible- why I am not short #BTC." -Michael J. Burry

    100% this... I believe we will eventually see a government backed stablecoin it's inevitable. I just don't think it will ever be BTC... Too much shady unregulated history. The cast of characters bad faith actors driving this whole market is just incredulous to me.

    The legitimate financial sector (Banks, stock market) is not much better but at the end of the day there is a regulatory infrastructure albeit tenuous at best.

    Do I begrudge anyone willing to gamble their money in these exchanges? Not at all but again only use money you are really willing to loose. No financial advisor in the world would ever recommend going all in on a speculative asset. Others in this thread have advised the same to others wanting to get in

    The Tether BTC play seems to be drive the price of BTC so high that it's "too big too fail"

    What does the future hold? who the hell knows but I personally foresee a regulatory clampdown at least here in the states.

    jonny_quest_lives -4Permalink
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    • gov back crypto, ala china style. nope... because are the public willing to allow the gov absolute control over their spending?shapesalad
    • BTC and others will remain, because there's no way to stop people. Unless giv completely controls all internet 100%. then no.shapesalad
    • USA won't clamp down on crypto.shapesalad
    • good luck forcing your central shitcoin on international markets in a world where BTC exists. It's game over. Wake up.ESKEMA
    • I don't see BTC to have any use or value in, say, year 2050. Today's cryptography will simply not stand the ravages of timedrgs
    • So between now and 2050 -- a spectacular crash which I hope we will live to seedrgs
    • interesting thoughts. I'm not sure on a centralised gov coin though. Look at how Libra got trampled down with regulation. Dead before arrival.inteliboy
    • bitcoin will evolve along with crytography. It's beeing actively developed.ESKEMA
    • Post-quantum cryptography? Its easier to let Bitcoin die and start from scratchdrgs
    • Y’all smarter than legendary investor Dr Michael Burry, MD?
      ********
    • Hold ETH because fundamentals and influencers can't break me.isaca
    • i am curious as to how BTC backers can explain away the Tether issue. it's one thing to knowingly profit off of a rigged game/marketjonny_quest_lives
    • but to believe this is natural growth/adoption is an entirely different matter...jonny_quest_lives
    • this guy has plotted which trading bots are gobbling/pumping the tether pumps https://twitter.com/…jonny_quest_lives
    • FUD. Let be it. Look at the charts.isaca
    • STFU with your tether FUD. no one gives a fuck. here, go read something. https://medium.com/@…ESKEMA
    • you sound like a broken botESKEMA
    • as far as Government backed stablecoins i guess China already has one as shapesalad mentioned:jonny_quest_lives
    • https://www.nfcw.com…jonny_quest_lives
    • https://www.cnbc.com…jonny_quest_lives
    • which would circle back to Michael Berry's point about "heartless centralized governments"jonny_quest_lives
    • Big banks are invested in it now, that changes things since as we all know they are also the government :)yuekit
    • I think there will be a demand for cryptocurrency in some form far into the future. It has reached a critical mass IMO.yuekit
    • Mr. Burry is obviously not using drgs' messy charcoal prediction model on his charts or he'd know what Bitcoin will do.NBQ00
    • the point is, bitcoin goes up to $500+ a coin, stabilises, and is then a more useable storage of value than gold for corps/gov/public.shapesalad
    • gold needs security, vaults, a physical location, can be seized, hard to quickly liquidate, trade, transport.shapesalad
    • If Bitcoin ends up as an alternative or replacement for gold I don't see why governments would feel threatened by that. States issuing their own digitalyuekit
    • currency doesn't necessarily mean Bitcoin and other cryptos have to be banned. At the end of the day the government has a lot of leverage over what currencyyuekit
    • people use. They write the regulations, they are closely linked with the banks and big corporations that handle most of our economic transactions.yuekit
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