Bitcoin/Ethereum/cryptocurrencies

rod

Retired 22 years

If this is true its the funniest thing I've heard today. There are several different videos of this story so I kind of think it is true.
 

Brownslave688

You want a toe? I can get you a toe.
Rich dude can't remember his password to get at his 200 million in Monopoly money. You don't think thats funny?
nah. Feel bad for the guy. 200 million bucks if he just remembered a password. Soon to be 400 million then 600 million. That has to eat at someone something terrible
 

Brownslave688

You want a toe? I can get you a toe.
Another video mentioned he was richer than hell anyway and hasn't let it bother him.
I don’t know. No matter how rich you are hundreds of millions is a lot.

It would take him months and cost millions of dollars but he could recover his seed phrase
 

DriveInDriveOut

Inordinately Right
This is why I usually prefer utility tokens/coins to invest in.

While overall riskier than bitcoin as far as going to zero. Eventually many of them will get adoption. This adoption will keep them from getting REKT next near market or if bitcoin. Is just a bubble that will pop.

Like the Internet bubble it didn’t mean they were all suddenly worthless. In fact those with real life adoption and usage are worth billions today.
Such as?
 

DriveInDriveOut

Inordinately Right
So I feel like a big part of bitcoin mania is because of easy access like robinhood.

You buy that stuff on coinbase or what?
I guess I'm not understanding why the price would increase. Bitcoin as a digital gold almost makes sense, but why would utility tokens rise, if another token system or whatever could be made?
 

wilberforce15

Well-Known Member
So I feel like a big part of bitcoin mania is because of easy access like robinhood.

You buy that stuff on coinbase or what?
I guess I'm not understanding why the price would increase.
Robinhood is mostly irrelevant.

The demand is from large institutions that dward any retail phenomenon.

Square, Paypal, Grayscale, etc. buy way more bitcoin every single day than is produced. This is a reliable, institutional phenomenon now. Robinhood and all the retail investors barely matter any more.
 

Brownslave688

You want a toe? I can get you a toe.
Jesus dude, I'm a truck driver.
Lmao ok think about how fragmented supply chains are. Like a little Debbie snack may have 8 different supply chains to get ingredients to the plant to make it. Ideally those supply chains have a way to share info with each other. But they may also be competitors so company even though company C may want the data company a and b don’t want each other to have access to that data because they could use it against each other.

OT steps in as a decentralized protocol that says hey we will be the middle man for the data and get it where it needs to go. For the specified amount of time. But to do this the companies must use the token. It’s how they pay for “jobs” (the storage of data). This gives the token value. As long as there are companies wanting to share/store data on the network the token has value because using the toke is the only way for them to use the network.
 

Brownslave688

You want a toe? I can get you a toe.
Robinhood is mostly irrelevant.

The demand is from large institutions that dward any retail phenomenon.

Square, Paypal, Grayscale, etc. buy way more bitcoin every single day than is produced. This is a reliable, institutional phenomenon now. Robinhood and all the retail investors barely matter any more.
I wouldn’t say that. Retail investors took the entire market to just shy of a trillion dollar market cap. Now it’s just over a trillion dollar market cap.

Yes they’re more relevant every day but retail investors and old guard whales who have thousands of BTC can still move the market themselves.
 

Brownslave688

You want a toe? I can get you a toe.
So I feel like a big part of bitcoin mania is because of easy access like robinhood.

You buy that stuff on coinbase or what?
I guess I'm not understanding why the price would increase. Bitcoin as a digital gold almost makes sense, but why would utility tokens rise, if another token system or whatever could be made?
You can make another utility token that does the same thing sure. But think about how many companies stick with ups because of the pain it would be to shift everything over to FedEx. Or who used windows even though there’s better options out there.

Utility tokens will work on a base level that will be very hard for companies to just up and switch to another one if they want after being implemented.

Some of these supply chain tokens may take years to implement across an entire supply chain. Once implemented companies aren’t going to switch from that on a whim.
 

wilberforce15

Well-Known Member
I wouldn’t say that. Retail investors took the entire market to just shy of a trillion dollar market cap. Now it’s just over a trillion dollar market cap.

Yes they’re more relevant every day but retail investors and old guard whales who have thousands of BTC can still move the market themselves.
The number of whale wallets are increasing in size and number, while retai-sized wallets are not. I love how trackable this data is.

Small investors have a much harder time moving a trillion dollar market, and they'll have no chance to move it when it's 5T or 10T
 

Brownslave688

You want a toe? I can get you a toe.
The number of whale wallets are increasing in size and number, while retai-sized wallets are not. I love how trackable this data is.

Small investors have a much harder time moving a trillion dollar market, and they'll have no chance to move it when it's 5T or 10T
Very true but some of those whale wallets aren’t institutions either. They’re just guys who have been in bitcoin for a decade.

I agree and that’s why hopefully when we get to the 5T or 10T mark we should stop having these wild 30% up 40% down weeks.
 
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