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This is episode 156 of You, Me, and BTC – your liberty and Bitcoin podcast!
Some people just have to complain about everything, and Bitcoin is certainly an easy target. So today’s show is all about Bitcoin haters.
It all started with a tweet about how Bitcoin naysayers will have to change their strategy in 2017. It’s becoming harder and harder for them to say that Bitcoin is dead, so they’ll have to find other ways to harass us. The Bitcoin Rat outlined some possible attack vectors that we’ll cover in the show.
As part of the discussion, we’ll express some concern about Bitcoin worshipers too. Some people are obsessed with Bitcoin’s potential and constantly claim that the price will never stop rising. But unfortunately, such talk can easily detract from Bitcoin’s real value.
Your hosts this week are Daniel Brown, John Stuart, and Zack Voell. Tune in if you want to help hate on the haters!
Leave a comment and tell us if you think it’s bad to praise Bitcoin too much!
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“Bitcoin to the moon! Soon!™”
Hello, fellow feline.
If you’ve been paying attention they have been squashing BTC. There is
admission to rigging prices on Silver and Gold closely related to BTC.
If you noticed in the run up the other day either a WHALE GOT NERVOUS AND
DUMPED COIN IN EXCHANGE …..OR ……CONTROLLERS WITH LARGE AMOUNTS OF BTC
DID THE SAME THING. It means they are scared of it because it challenges
their dollar. Why would a whale dump onto the regular market when he could
move lots more on the DARK POOL AND KEEP THE PRICE UP ??????? Get it
actually, this is not as you say. The price drop coincided with the PBOC
shaking out all those shorting the yuan.
THey basically flipped a few switches, brought the value of the yuan up –
WAY up – and caused all those investors betting the yuan would fall to lose
their shirts (and shorts). This affected the btc price increase and set off
the same effect, since buying into btc IS shorting the yuan (and all other
govt cash).
Chinese investors were trying to stop thier loses.
that’s all.
Not buy btc if I don’t have enough? You mean just not right now? Like wait
a week or 2?
We recorded this when Bitcoin was over $1100. So I think Zack was right.
Now, with the price ~$900, would be a better time to buy. 🙂
its back to the moon.. lol
“Bitcoin to the moon! Soon!™” LOL :)
It’s increased 900% in the last 3.2 years yet listen to these guys
negativity. LOL
It’s amazing it’s like the math is completely invisible to these naysayers.
Not sure if you mean us guys or the proverbial naysayers we were talking
about. But either way, thanks for listening! I agree that the math is
significantly in Bitcoin’s favor.
Doubting bitcoin will even reach 2,000 by the end of this year you guys
call ‘sketchy’??
No your ‘apologist’ approach and saying $2,000 is a moon price when we’ve
appreciated 900% in 3 years I find carrys little logic and ignores the
fundamentals of capital market flows from weak markets to strong. There is
a better chance ‘than not’ that we will reach or surpase 1% of gold in the
next 2 years equaling $6,000 per coin.
So no you are not doing the math or you are ignoring the enormous flight to
safety and scope of the financial markets, many of which are inferior in
safety and utility to bitcoin.
If you think $2,000 is sketchy I urge you to sell your bitcoins now.
I’ll take em!
I can’t speak for the others (DB here) but I don’t think I intended to
suggest that any of that is impossible. I believe that all of those things
are factors and the price could easily hit $2k or $6k or more within a few
years.
I meant that it would sound sketchy from the outside. Someone who knows
nothing about Bitcoin might easily tune it out if they hear about crazy
returns like that. They’ll think it’s too good to be true so it must not be.
And regardless of how sure you are, I think it’s dangerous to make promises
too strongly about the future of anything – Bitcoin or otherwise.
you now have 7777 subscribers.
Andreas said in one of his talks that 99% of criminals use shoes and
automobiles, should we ban those as well so criminals can’t use them?
On the bitcoin currency value graph, you should only look on “the
platform/The ground” in a time scale of 1 years. becuase then you can easy
see if it’s going up or down. it’s clearly going up in the long run. But in
the short run you can see the mountain on the graph thats goes very high
and then DOWN again and ofc that is what you should expect. When a mountain
goes up, there will always be a way down from the mountain. and what caused
this mountain was the chines currency that collapsed and made many chines
people scared for there value. so they bought bitcoin, what made bitcoin go
up. And then the goverment warned them around 5th jan 2017. what made the
chines people jump back to there goverment currency and that caused bitcoin
go down in value. But now since Trump is elected, he will do everything to
fix the countries, and one of the things he will do is make many big
company to stop build factorys in china since its cheap there. but insted
build in US. The reason why it’s cheap to build factorys in china is
becuase they get alot rare earth minerals while US is milking oil. Donald
Trump knows that mining for minerals is better becuase in now days, we get
more into the future what makes ous use less oil, since we now start to
replace oil with eletric, the tesla car is one exsample of many. and now
trump will make US rich on minerals insted. (he talked about it in the
interview with alex jones). tbh Trump is very smart and I belive in him, if
he makes the US value go up by minerals, and high borderfee, and less US
factory in china. it will make china’s currency to go down in value. and
that will make more chines people get into bitcoin. (19th des to 5th jan
2017 is a good exsample). the chines people got scared and bought bitcoin,
and that caused bitcoin rise from 790usd to 1150usd. I think US dollar will
be worth more after a while, but the chines currency will go down just a
little. bitcoin is ofc growing each day, and I belive bitcoin will pass the
moon ;)
Great discussion guys, thanks. Just some thoughts, gold and silver value as
money is based on scarcity as well as proof of effort in manpower and
energy to extract it from the ground. Currency value is derived from
government legislation; that’s it. However, in my opinion as a lay-person
starting out in Bitcoin but having a finance background, Bitcoin
demonstrates scarcity, proof of effort in acquisition but also attains
value based on world wide acceptance as opposed to jurisdictional mandate.
On your comments re Greece and Cyprus compared to China and Venezuela. When
Cyprus and Greece happened, Bitcoin was still very new at that time
compared to now where Bitcoin has so much more traction.
Thoughts…
Great explanation. Well said.
Find me on twitter and DM me if you want to learn about solar & wind
powering for mining & pcs ;] Also, no matter what kind of thing you do, you
will never have “unlimited” or “free” energy. You have to buy the panels,
they break, and the sun has a finite energy and there is also the law of
conservation of energy…