Is it too soon to talk about Crypto yet?

[Blue Mule]

I, for one, would like to understand it more. Would like to get on board before it’s too late, although I think it already is. It would be so great to see people have a new investment that could help lift them out of hopeless situations.
It sounds like a currency of “freedom” to me and that’s great.

So sick of the typical investment or currency paths.

I would like to understand it more as well. To date I've had zero interest in it. Can I pay my car note with it? Buy groceries? Pay the utility bill? Will my employer automatically deposit bitcoin to my account twice a month? I don't think so. And so to me it's been a game for teens to play. Is your bitcoin balance protected by the FDIC? Can your bitcoin balance be hacked and stolen? Nobody is stealing the paper money out of my pocket without a fight. I just don't understand why EVERYTHING is racing toward being computerized with no regard for the consequences.

And, normally I don't bring up my faith on this forum but since it was already brought into the discussion... electronic means of currency worry me as a Christian because to me all this technology is just one step closer to the prophecy of the Mark of the Beast. In the past year or so I've actually gone back the other way and I'm carrying cash more now and relying on my debit card less.

 

[Snobdds]

Michaël Saylor needs to be banished from Bitcoin. I will say it again. He is bad for Bitcoin.

 

[Oaktree]

I don't bring up my faith on this forum but since it was already brought into the discussion... electronic means of currency worry me as a Christian because to me all this technology is just one step closer to the prophecy of the Mark of the Beast. In the past year or so I've actually gone back the other way and I'm carrying cash more now and relying on my debit card less.

I was wondering when someone would bring up that subject. I'm not religious myself, but certainly increasingly moving to a virtual world it seems like it would make the rapture prophesies much easier to implement.

 

[rumwrks]

wherein hardly anybody has come forward in support while the last two years Bitcoin HoDLers have enjoyed an over 500% gain.

Bernie Madoff had similar gains, doesn't mean it was a good idea.

but most disturbing is that not a single one of you asked about the eschatological aspect of my OP in a Christian context.

I would say don't immanentize the eschaton..

 

[Snobdds]

This time it's different...

 

[MinnesotaEric]

While an estimated 58% of Bitcoin resides with individuals, Bitcoin adaption among nations, states, public and private companies, wealth management and retirement funds continues to accelerate. Meanwhile, here is where Bitcoin treasury adaption legislation is amid the 15 States here in the USA.

And as of January 23rd, 2025, US Banks can now custody crypto. This means that people can take out loans against their own crypto holdings using their own crypto as collateral. If cap gains from domestic crypto becomes tax-free, we’re going to see our economy rip!

 

[rumwrks]

This means that people can take out loans against their own crypto holdings using their own crypto as collateral.

Hah, I hope all of the crypto holders do exactly that.. Watching the margins get called will be truly glorious.

 

[MinnesotaEric]

Meanwhile, 21 States have proposed Bitcoin legislation.

You can track Bitcoin legislation progress on this website. Bitcoin Laws - Tracking Bitcoin and Digital Asset legislation

And it looks like South Dakota is in the running to be the first State to pass a Bitcoin Reserve Bill.

 

[MinnesotaEric]

Michaël Saylor needs to be banished from Bitcoin. I will say it again. He is bad for Bitcoin.

With the creation of a Sovereign Wealth Fund, the rumor is that MicroStrategy will be included in its holdings. That said, I voted against MSTR being able to issue up to 10B of shares since that dilutes existing shareholders.

 

[Snobdds]

With the creation of a Sovereign Wealth Fund, the rumor is that MicroStrategy will be included in its holdings. That said, I voted against MSTR being able to issue up to 10B of shares since that dilutes existing shareholders.

Saylor is the worst thing for Bitcoin.

He's running a ponzi backed by leveraged Bitcoin.

I don't how else to say this, but just like SBF or the many others...things can't progress until he's gone.