ADVERTISEMENT

OT: Bitcoin, Altcoins, NFT's & All Things Crypto

I dont have the time to dive into his donations, but it's clear where his intentions were. I'm not ignoring anything. A bulk of donations occured early in 2022 during.... primary season. I WOULD LOVE TO SEE who they donated to on the Republican side. I'd bet the farm they were MAGA Trumpers in contested primaries in swing districts or states,


The Republican donations look like all to pac's.

Biggest one by far(12 of the 20 million) being American Dream Federal Action, which Salame himself founded and actually has a strong bent towards pandemic perparedness, so def not Trump. Barely looks Republican really. This looks like potential laundering given he is the founder? but I'm not putting that on Republicans feet.


Also gave significant money to the Congressional Leadership Fund, as well as the Senate Leadership fund. Both general Republican pacs.

The GMI pac, which advocates for crypto, is another which, like the American Dream, looks very self serving.

Defending Main Street Pac got some bucks as did Results for NC, as did Stand for NY Cmte.

Conclusion: Really takes some of the starch out of my original assertation that significant money went to Republicans. Not with more then half going to Salame's own PAC.
 
Don’t need to meet you. Just need to read your posts. Criticizing justification, and changing justification, isn’t a personal indictment. But the thesis creep is important to note, as it is a common mistake many investors make when an investment underperforms.
So you're not calling him a creep?
 
Don’t need to meet you. Just need to read your posts. Criticizing justification, and changing justification, isn’t a personal indictment. But the thesis creep is important to note, as it is a common mistake many investors make when an investment underperforms.
Sure thing. Appreciate you trying to educate me, but again you're making assumptions that are not applicable when there;s personal variables. So assume away, I guess I'll just stop trying to educate myself more on an emerging technology as I wouldnt want to further justify my "failing investment"
 
Chart master Carter Werth thinking that BTC only going 5% below June lows is significant.

Pretty sure he meant in a positive way.

I was kind of thinking that given it has been stuck below $17K that was a negative sign. Resistance becoming support, support now becoming resistance.
 
Sure thing. Appreciate you trying to educate me, but again you're making assumptions that are not applicable when there;s personal variables. So assume away, I guess I'll just stop trying to educate myself more on an emerging technology as I wouldnt want to further justify my "failing investment"
But you did say you "keep saying the same shit".
 
Last edited:
Chart master Carter Werth thinking that BTC only going 5% below June lows is significant.

Pretty sure he meant in a positive way.

I was kind of thinking that given it has been stuck below $17K that was a negative sign. Resistance becoming support, support now becoming resistance.

Carter Worth is an idiot. He had a fund once and he lost money every month for two years until they shut it down.
 
  • Like
Reactions: RU in IM
As far as I can tell, you don’t keep saying “the same shit.” For example, in the quoted post above, you state that bitcoin will be used in lieu of currency for digital payment. That’s not what you said when you started this thread, though. Here’s what you said:

The people who say that Bitcoin will never be a currency are pretty much right. It's not. It's become a digital store of value, just as gold is a store of value. You wouldnt walk into Chipotle and shave off some gold to pay for a burrito, just as you wouldnt pay for it in a fraction of BTC.

You also said this:

I've only become a Bitcoin bull in the past year. The printing of 4 Trillion dollars was what put me over the edge in looking for an inflation hedge. After digging aggressively into gold I began to realize that BTC was what I was looking for. Only 21 million BTC will ever be in existence and its a deflationary asset that can be transported anywhere in minutes.

Those comments were made when inflation readings were very low, unlike the past year, and the quoted price of BTC was above $50,000. Yet as of this post, after the worst inflation since the 70s, bitcoin is below $17,000.

So, seems to me you have severe thesis creep and a fairly material price decline since April 2021.
Perhaps you’ll prove to be right. But with that type of record to date, its not unreasonable to be questioned, In professional investing, you’d likely have been fired,

People change their investment thesis all the time and very few are ever fired. There would be no PM's left if they did because everyone gets it wrong some time.

And why are you always acting like you know everything about "professional investing"? Have you ever managed money? I don't believe you have. You sound more like a back office or compliance guy to me.
 
So you're not calling him a creep?

I know you’re joking, but perhaps it’s worth stating for others.

Thesis creep refers to a change in thesis, and is not labeling the person advancing a thesis a creep. A classic example is when someone buys a stock ahead of some event expecting the stock to move higher once the event occurs. If the event occurs and the stock reacts differently than the investor expected, AND they continue to hold under a new justification, that’s classic thesis creep. Or if the event doesn’t occur and they hold because of a new justification, that’s also thesis creep. And it very rarely works well.
 
  • Like
Reactions: RU-05
People change their investment thesis all the time and very few are ever fired. There would be no PM's left if they did because everyone gets it wrong some time.

And why are you always acting like you know everything about "professional investing"? Have you ever managed money? I don't believe you have. You sound more like a back office or compliance guy to me.
It's not about being wrong. People can misunderstand various financial inputs/data and come to an incorrect conclusion. It is a dynamic world out there. What Frida is saying is this guy came to a conclusion, and evidence be damned that conclusion isn't changing.
 
It's not about being wrong. People can misunderstand various financial inputs/data and come to an incorrect conclusion. It is a dynamic world out there. What Frida is saying is this guy came to a conclusion, and evidence be damned that conclusion isn't changing.

OK, but that happens all the time as well.

Especially in emerging technologies, and other start up situations. Look at the venture space, they change their business models often. It's normal.

We still don't know if bitcoin is going to work yet and we won't know for a long time. It's too early to point at the scoreboard.
 
It's not about being wrong. People can misunderstand various financial inputs/data and come to an incorrect conclusion. It is a dynamic world out there. What Frida is saying is this guy came to a conclusion, and evidence be damned that conclusion isn't changing.

Generally, analysts aren’t canned for being wrong. Do it enough, and yeah, you’ll have a problem. But when you’re basing an investment on a thesis such as an acquisition closing, and it doesn’t happen, any merger arb or event driven investor will say “sell.” When they hold, and the stock drops by more than half, and they come back and say “it’s too cheap to sell now?” Yeah, guys get fired for that. Because no one wants to explain that holding to an LP. And LPs will rightly criticize such a position.

This thread is about crypto and bob is probably the most prominent poster. He’s certainly earned the respect of many. So I realized calling out his thesis creep would not sit well with many but it’s important to highlight particularly as the price of BTC has fallen as much as it has since the thread began. It’s not a personal thing.
 
OK, but that happens all the time as well.

Especially in emerging technologies, and other start up situations. Look at the venture space, they change their business models often. It's normal.

We still don't know if bitcoin is going to work yet and we won't know for a long time. It's too early to point at the scoreboard.
But doesn't that really call into question it's current $300b valuation, let alone it's $1t valuation at it's highs?
 
But doesn't that really call into question it's current $300b valuation, let alone it's $1t valuation at it's highs?

Sure, you can question anything and everything about crypto. I personally don't believe in it. Never liked the store of value argument and felt like the government would just crush it if it became too big of a threat.

But this is an ever change technology and the traditional investment markets are more f'd up than they have ever been so I keep my eye on it. IMO only bitcoin that you custody yourself has any merit. But I still haven't bought any.
 
Sure, you can question anything and everything about crypto. I personally don't believe in it. Never liked the store of value argument and felt like the government would just crush it if it became too big of a threat.

But this is an ever change technology and the traditional investment markets are more f'd up than they have ever been so I keep my eye on it. IMO only bitcoin that you custody yourself has any merit. But I still haven't bought any.
I think it was Bob who was big on saying Just. Buy. The. Coin.

I bought into it, and wasted some money on Coinbase fee's(think all my coinbase trades were losses as well).

I feel I can just as easily gain exposure via miner stocks. Or GBTC. (did make money here)

This may not speak at all to the use case of BTC. But as someone who doesn't really care about BTC but is more then willing to ride a wave, GBTC or the miners is fine by me.
 
IMO only bitcoin that you custody yourself has any merit.
What makes me laugh is when people talk about “custody” as if anyone other than crypto crazies really know what that even means. As if regular people are going to buy BTC and then learn how to move it to a noncustodial wallet. BTC and crypto are so far from mainstream that it virtually has no utility in society today. We have ONE case study with BTC as a currency = El Salvador is on the verge of bankruptcy. And BTC as a store of value has gotten buried despite $100K+ predictions less than a year ago. There are too many folks on this string that are simply in denial. It’s comical.
 
  • Like
Reactions: RU in IM
What makes me laugh is when people talk about “custody” as if anyone other than crypto crazies really know what that even means. As if regular people are going to buy BTC and then learn how to move it to a noncustodial wallet. BTC and crypto are so far from mainstream that it virtually has no utility in society today. We have ONE case study with BTC as a currency = El Salvador is on the verge of bankruptcy. And BTC as a store of value has gotten buried despite $100K+ predictions less than a year ago. There are too many folks on this string that are simply in denial. It’s comical.

Custody isn't hard. A lot of people are storing their bitcoin that way.
 
Custody isn't hard. A lot of people are storing their bitcoin that way.
But isn’t a big part of the thesis institutional investment? Now those institutions may have custody of the coin but individuals? Especially those looking to gain exposure in bitcoin via their wealth mgmt or retirement funds? By definition they won’t have custody of the actual coin.

Maybe in time i guess. With institutions paving the way?
 
It's not about being wrong. People can misunderstand various financial inputs/data and come to an incorrect conclusion. It is a dynamic world out there. What Frida is saying is this guy came to a conclusion, and evidence be damned that conclusion isn't changing.
Actually, its ignorance on his part to assume he knows me, my knowledge base or anything about me. My opinion has essentially remained constant. Buy bitcoin and hold it.
Generally, analysts aren’t canned for being wrong. Do it enough, and yeah, you’ll have a problem. But when you’re basing an investment on a thesis such as an acquisition closing, and it doesn’t happen, any merger arb or event driven investor will say “sell.” When they hold, and the stock drops by more than half, and they come back and say “it’s too cheap to sell now?” Yeah, guys get fired for that. Because no one wants to explain that holding to an LP. And LPs will rightly criticize such a position.

This thread is about crypto and bob is probably the most prominent poster. He’s certainly earned the respect of many. So I realized calling out his thesis creep would not sit well with many but it’s important to highlight particularly as the price of BTC has fallen as much as it has since the thread began. It’s not a personal thing.
Seriously, STFU with this thesis creep shit. Im assuming youre a professional trader or were one based on your comments on these boards. For the 100th time now, you're making the assumption that Im changing my narrative to fit some hypothetical cause I have to promote a friggen message board. Get a grip pal.

If you don't educate yourself, you find yourself a closed minded dinosaur (cough: you and Aldo) I've taken the time to thoroughly educate myself on a topic, and with that, ideals have changed, uses have changed, tech has developed. I literally purchased my first coin on Robinhood before wising up. So yeah call it creep or whatever cuteness you want to fire off. I really don't have the time for you guys anymore. It's bordeline low rent trolling, similar to a prominent poster on this thread in the stock thread...

And yes, I'm clearly getting testy, cause you keep repeating the same trash like you know me, my investment strategy and my gameplan. It's exhausting.
What makes me laugh is when people talk about “custody” as if anyone other than crypto crazies really know what that even means. As if regular people are going to buy BTC and then learn how to move it to a noncustodial wallet. BTC and crypto are so far from mainstream that it virtually has no utility in society today. We have ONE case study with BTC as a currency = El Salvador is on the verge of bankruptcy. And BTC as a store of value has gotten buried despite $100K+ predictions less than a year ago. There are too many folks on this string that are simply in denial. It’s comical.
blah blah blah 100k, el salvador... dont you get tired of repeating the same shit?
I guess the actual on chain statistics showing that the highest number of "regular people" moving btc to cold storage doesnt mean shit, because.... well you cant relate to it. Keep making those assumptions. just like I'll stay in denial. Whatever.

Sorry to be an ahole here, but this is exhausting.
 
  • Like
Reactions: T2Kplus20
I think it was Bob who was big on saying Just. Buy. The. Coin.

I bought into it, and wasted some money on Coinbase fee's(think all my coinbase trades were losses as well).

I feel I can just as easily gain exposure via miner stocks. Or GBTC. (did make money here)

This may not speak at all to the use case of BTC. But as someone who doesn't really care about BTC but is more then willing to ride a wave, GBTC or the miners is fine by me.
I never used coinbase or bought gbtc so I can't attest to their fees. Gemini is negligible.

Miner stocks beware. I got my ass handed to me buying corz. Had multiple chances to turn a nice profit but got greedy. Now there's a high likelihood of them going bankrupt. Ive grabbed a bunch of another miner dghi. Super low market cap and currently. $.65 a share

Going back to gbtc, I simply just don't trust other people to hold my btc
 
So in regards to lighting. Do people need to stake their coins or something for the network to use? And if so what is the benefit of staking it? Do they get interest or a usage fee or something?
 
Got to use crypto in a store for the first time this week at the Solana Spaces store. Nice and easy. Also got to see the Solana phone prototype there.
4HN26Bk.jpg
 
I never used coinbase or bought gbtc so I can't attest to their fees. Gemini is negligible.

Miner stocks beware. I got my ass handed to me buying corz. Had multiple chances to turn a nice profit but got greedy. Now there's a high likelihood of them going bankrupt. Ive grabbed a bunch of another miner dghi. Super low market cap and currently. $.65 a share

Going back to gbtc, I simply just don't trust other people to hold my btc
I did quite well with riot and gbtc. But again strictly for exposure during the run.

As per not trusting other people to hold the btc, if that is the recommendation, and that is something we hear alot lately, isn’t that at odds with the idea that it will be institutions which help drive the next run?
 
Last edited:
  • Like
Reactions: RU in IM
Got to use crypto in a store for the first time this week at the Solana Spaces store. Nice and easy. Also got to see the Solana phone prototype there.
4HN26Bk.jpg
What kind of things are for sale in that store?

Also is this a sign you don’t think a rebound in crypto prices is likely in the near term?
 
What kind of things are for sale in that store?

Also is this a sign you don’t think a rebound in crypto prices is likely in the near term?
Mostly merch from the bigger $sol nft projects. They have a lot of educational material, different tech demos, show you how to set up a wallet, etc.

Don’t really think it’s a sign of price action, though I’m planning on the next 12-18 months being chop
 
Actually, its ignorance on his part to assume he knows me, my knowledge base or anything about me. My opinion has essentially remained constant. Buy bitcoin and hold it.

Seriously, STFU with this thesis creep shit. Im assuming youre a professional trader or were one based on your comments on these boards. For the 100th time now, you're making the assumption that Im changing my narrative to fit some hypothetical cause I have to promote a friggen message board. Get a grip pal.

If you don't educate yourself, you find yourself a closed minded dinosaur (cough: you and Aldo) I've taken the time to thoroughly educate myself on a topic, and with that, ideals have changed, uses have changed, tech has developed. I literally purchased my first coin on Robinhood before wising up. So yeah call it creep or whatever cuteness you want to fire off. I really don't have the time for you guys anymore. It's bordeline low rent trolling, similar to a prominent poster on this thread in the stock thread...

And yes, I'm clearly getting testy, cause you keep repeating the same trash like you know me, my investment strategy and my gameplan. It's exhausting.

blah blah blah 100k, el salvador... dont you get tired of repeating the same shit?
I guess the actual on chain statistics showing that the highest number of "regular people" moving btc to cold storage doesnt mean shit, because.... well you cant relate to it. Keep making those assumptions. just like I'll stay in denial. Whatever.

Sorry to be an ahole here, but this is exhausting.
F'ing priceless post. You won this thread! 🤣
 
Sorry to be an ahole here, but this is exhausting
You sound like an ahole because every single thing you have said has been proven wrong. Not one thing - nothing - has come true. So, if you want to play the “crypto is still in its infancy stage” I’d buy that as a possibility - but you are prob a decade away from ANY meaningful adoption assuming it ever happens. I know this space and have done the research. And we clearly don’t agree. That’s fine. I’ve always been respectful of you but don’t pour me the kool-aid. You don’t think your posts of BS aren’t exhausting to those of us that watched BTC fall from like $70K to $17K and we are now in the middle of crypto-Enron? BTC is going NOWHERE with FTX and other bankruptcies looming. Even guys like Pomp and Saylor have disappeared. It’s an epic disaster but you refuse to give up. Good for you and hope it works out.
 
  • Like
Reactions: RU in IM
You sound like an ahole because every single thing you have said has been proven wrong. Not one thing - nothing - has come true. So, if you want to play the “crypto is still in its infancy stage” I’d buy that as a possibility - but you are prob a decade away from ANY meaningful adoption assuming it ever happens. I know this space and have done the research. And we clearly don’t agree. That’s fine. I’ve always been respectful of you but don’t pour me the kool-aid. You don’t think your posts of BS aren’t exhausting to those of us that watched BTC fall from like $70K to $17K and we are now in the middle of crypto-Enron? BTC is going NOWHERE with FTX and other bankruptcies looming. Even guys like Pomp and Saylor have disappeared. It’s an epic disaster but you refuse to give up. Good for you and hope it works out.
Pomp and Saylor have not disappeared. I subscribe to Pomp’s newsletter which I find very interesting and thought provoking. He writes about many topics and is still high on BTC as is Saylor.
Yes , BTC is in its infancy but no one can predict whether it’ll mature in a year or 5 or 10 years. Amazon in its infancy sold only books. No one could have predicted it would be the leading e-commerce company in the world. BTC can’t be lumped in with other cryptos or exchanges or NFT’s, etc.
 
  • Like
Reactions: T2Kplus20
Pomp and Saylor have not disappeared.
Pomp and Saylor were on mainstream media outlets every day to pump. They are ghosts at the moment in comparison to their prior acts. If their convictions were still so strong they would be pumping even more at a time like this in order to stop the bleeding and prevent crypto Siberia. Just wait until the wave of lawsuits start. Plaintiffs lawyers are going to make a fortune off this crypto mess.
 
Pomp and Saylor were on mainstream media outlets every day to pump. They are ghosts at the moment in comparison to their prior acts. If their convictions were still so strong they would be pumping even more at a time like this in order to stop the bleeding and prevent crypto Siberia. Just wait until the wave of lawsuits start. Plaintiffs lawyers are going to make a fortune off this crypto mess.
Pomp was just on CNBC for about 20 minutes with Scott Wapner yesterday
 
Pomp was just on CNBC for about 20 minutes with Scott Wapner yesterday
First time in how long,,,? Listen, you crypto guys can’t admit that all of the supporters and pumpers, in comparison to 6+ months ago, have largely gone silent? Guys like Pomp, Winklevoss (2x) and Saylor were regulars. What I’m saying is why isn’t their conviction stronger than ever now if decentralized finance will prevail regardless of FTX type scenarios? These guys should be buying BTC hand over fist at these levels.
 
You sound like an ahole because every single thing you have said has been proven wrong. Not one thing - nothing - has come true. So, if you want to play the “crypto is still in its infancy stage” I’d buy that as a possibility - but you are prob a decade away from ANY meaningful adoption assuming it ever happens. I know this space and have done the research. And we clearly don’t agree. That’s fine. I’ve always been respectful of you but don’t pour me the kool-aid. You don’t think your posts of BS aren’t exhausting to those of us that watched BTC fall from like $70K to $17K and we are now in the middle of crypto-Enron? BTC is going NOWHERE with FTX and other bankruptcies looming. Even guys like Pomp and Saylor have disappeared. It’s an epic disaster but you refuse to give up. Good for you and hope it works out.
Babble on Kayne. I have no patience for it or your inaccuracies or closed minded opinions.
 
  • Haha
Reactions: T2Kplus20
Actually, its ignorance on his part to assume he knows me, my knowledge base or anything about me. My opinion has essentially remained constant. Buy bitcoin and hold it.

Seriously, STFU with this thesis creep shit. Im assuming youre a professional trader or were one based on your comments on these boards. For the 100th time now, you're making the assumption that Im changing my narrative to fit some hypothetical cause I have to promote a friggen message board. Get a grip pal.

If you don't educate yourself, you find yourself a closed minded dinosaur (cough: you and Aldo) I've taken the time to thoroughly educate myself on a topic, and with that, ideals have changed, uses have changed, tech has developed. I literally purchased my first coin on Robinhood before wising up. So yeah call it creep or whatever cuteness you want to fire off. I really don't have the time for you guys anymore. It's bordeline low rent trolling, similar to a prominent poster on this thread in the stock thread...

And yes, I'm clearly getting testy, cause you keep repeating the same trash like you know me, my investment strategy and my gameplan. It's exhausting.

blah blah blah 100k, el salvador... dont you get tired of repeating the same shit?
I guess the actual on chain statistics showing that the highest number of "regular people" moving btc to cold storage doesnt mean shit, because.... well you cant relate to it. Keep making those assumptions. just like I'll stay in denial. Whatever.

Sorry to be an ahole here, but this is exhausting.
Don’t need to know you. Just need to read what you posted about why you’re buying bitcoin, and based on what you wrote, your reasons have changed. You have not been saying “the same shit.” “Buy bitcoin and hold it” is not a justification for buying bitcoin. Learning more about technology has zero to do with whether bitcoin is a store of value akin to gold. And I don’t need to know about your portfolio, your house, your dog, your job or anything else about you to make that assessment. I just need to read what you wrote. Your thesis changed. your prior thesis argued that holders of bitcoin would have some protection in an inflationary environment. The price performance of bitcoin in an inflationary environment is at odds with that thesis. Calling people dinosaurs, telling them to STFU, saying we don’t know you…,none of that addresses the very simple point that your stated reasons for owning bitcoin have changed.
 
Babble on Kayne. I have no patience for it or your inaccuracies or closed minded opinions.
Losing your patience isn’t the issue here. It’s all the money you are losing. Yeah, I’m so closed minded that I fully endorse blockchain tech as a potential game-changer and will even recognize the appeal of NFTs. The biggest joke of all = you are single-handedly the biggest purveyor of inaccuracies in this thread. LOL… BTC is a currency. No, it’s an inflation hedge. No, now it’s a store of value. It’s going to $100K. Oops, no it’s not. Countries are adopting BTC. Oops, ignore El Salvador it doesn’t matter. What are you even taking about anymore because you don’t present any facts. You are in a BTC death-spiral. NOW, with all that said, in 5-10 years you could definitely prove me wrong which is why I’ve never once told anyone not to buy BTC/crypto. Heck, I bought a bunch of Block shares and have gotten my ass handed to me. In the end, neither of us know what the future of tech/finance holds.
 
Losing your patience isn’t the issue here. It’s all the money you are losing. Yeah, I’m so closed minded that I fully endorse blockchain tech as a potential game-changer and will even recognize the appeal of NFTs. The biggest joke of all = you are single-handedly the biggest purveyor of inaccuracies in this thread. LOL… BTC is a currency. No, it’s an inflation hedge. No, now it’s a store of value. It’s going to $100K. Oops, no it’s not. Countries are adopting BTC. Oops, ignore El Salvador it doesn’t matter. What are you even taking about anymore because you don’t present any facts. You are in a BTC death-spiral. NOW, with all that said, in 5-10 years you could definitely prove me wrong which is why I’ve never once told anyone not to buy BTC/crypto. Heck, I bought a bunch of Block shares and have gotten my ass handed to me. In the end, neither of us know what the future of tech/finance holds.
A s s u m p t i o n s.

"All the money I lost" as I told the other guy, you do not know me. Since I've alluded to my btc cost basis in prior posts I'll just throw it out here it's now 18.8k. So fo with your claims of all the money I've lost.

And I will continue to tell people to buy and continue to deal. The multiple black swans this year have not wavered my resolve. In genuinely frightened by a Genesis implosion and the aftermath of that. But just like every other time its been written off after something happens, btc will still exist and blocks will keep coming out.
 
A s s u m p t i o n s.

"All the money I lost" as I told the other guy, you do not know me. Since I've alluded to my btc cost basis in prior posts I'll just throw it out here it's now 18.8k. So fo with your claims of all the money I've lost.

And I will continue to tell people to buy and continue to deal. The multiple black swans this year have not wavered my resolve. In genuinely frightened by a Genesis implosion and the aftermath of that. But just like every other time its been written off after something happens, btc will still exist and blocks will keep coming out.
Personally, I'm shocked at how well BTC and ETH are holding up given the events of the past several months. Let's see what happens to Genesis.
 
That sums him up. This is a case study of being narrowminded. Someone can have a different opinion, but when you keep pushing alt-facts and refuse to ignore reality, it's best to move on.
What facts have you presented? You do realize that there isn’t a single person on any of these threads that take you seriously- right?
 
none of that addresses the very simple point that your stated reasons for owning bitcoin have changed.
once again to repeat myself, as if 4 times isnt enough. I'm happy my rationale has changed, as I have learned more and continue to educate myself.

And it's a Springer Spaniel, she's #adorbs.
 
ADVERTISEMENT
ADVERTISEMENT