Klay Thompson and Andre Iguodala will take part of their salaries in Bitcoin

[Modulate]

Except stocks go up over the long term because the underlying businesses make money. Bitcoin is just a currency that goes up and down off short term speculation. There's no reason to expect it go up long term or call it an "investment" in comparison to stocks, at least long term wise

I'm not sure how you can say that given it's performance over the last decade.

The bolded isn't true. There's a fixed maximum supply of 21 million coins that can be mined, and the mining rewards half every 4 years. Plus who knows how much BTC has been lost over the years.

theres a fixed supply of coins which means it won't devalue through typical inflation like normal currencies, but i don't know why you think that means its only going to go up. the problem is that for it to actually have staying power it needs to become a functionally used currency and not just a vehicle for speculation but bitcoin cannot process enough daily transactions to ever be used in that way. its fundamentally a scam which is why its being advertised this way, it has no inherent value. and eventually it and other ecologically damaging cryptos will be legislated out of existence

As long as there is demand for BTC, then the value will keep trending up as the supply continues to get squeezed. It doesn't need to be used as currency. It's a store of value. Same thing as gold. Just saying it's a scam doesn't make it so. And I don't know what you think it's being "advertised" as.

And LOL@ecologically damaging. It's always fun to see that talking point. No one ever cries how about bad gold/silver/etc mining is for the environment, or how much electricity and waste is used in the finanicial sector. B-b-but Bitcoin is so bad! Gimme a break.

[Saint Lazarus]

theres a fixed supply of coins which means it won't devalue through typical inflation like normal currencies, but i don't know why you think that means its only going to go up. the problem is that for it to actually have staying power it needs to become a functionally used currency and not just a vehicle for speculation but bitcoin cannot process enough daily transactions to ever be used in that way. its fundamentally a scam which is why its being advertised this way, it has no inherent value. and eventually it and other ecologically damaging cryptos will be legislated out of existence

God i can't wait until this happens just so i can look at the ultimate bagholder's face

[Modulate]

Except stocks go up over the long term because the underlying businesses make money. Bitcoin is just a currency that goes up and down off short term speculation. There's no reason to expect it go up long term or call it an "investment" in comparison to stocks, at least long term wise

I'm not sure how you can say that given it's performance over the last decade.

The bolded isn't true. There's a fixed maximum supply of 21 million coins that can be mined, and the mining rewards half every 4 years. Plus who knows how much BTC has been lost over the years.

There's also a fixed supply of Bol Bol rookie cards, but that doesn't make them valuable. Crypto doesn't provide any goods or services, doesn't pay dividends or interest, isn't a "share" in any publicly traded company, and basically does nothing. The best you can call it is a "speculative asset" dependent upon a greater fool coming in and paying you more than you paid for it, and calling 10 years a long-term record as an investment vehicle is laughable.

I mean, sure some folks made some money out of thin air, but they made it in U.S. dollars, not bitcoin, or they wouldn't be bragging about how much bitcoin is "worth."

Once the U.S. and other governments create their own digital coins, these will be legislated out of existence or sent underground to the black market, but all the hucksters won't feel one iota of regret or shame.

This wrong on so many levels.

I think the problem is that many of you view the entirety of crypto through the lens of "meme coins" (in which care I would agree with the bolded), because that's all you really know of the space. I suggest you do some research into the topic.

[Saint Lazarus]

I’ve gone 50x since my initial (sizeable) crypto investment in 2017. In 4 years. My life has been changed forever, it was the best decision I ever made.

And we’re still only getting started. Will probably 3-5x entire portfolio again this year.

Just sold 12 NFT’s for a 4.5x. Walked away with 6 ethereum from an initial investment of 1.5.

If anyone tells you crypto is a scam, start asking them questions about it. You’ll quickly learn they literally don’t know anything about it, don’t understand how it works, the technology that drives it, the communities that support it, and that they’re talking out of their cornholes. The naysayers haven’t spent hundreds of hours learning researching it, so why listen to them? They read a couple articles.

Don’t waste time listening their ‘advice’, start doing your own research.

Crypto is volatile because of its hyper growth and there have been and will continue to be big market corrections on the way to a 150T global market cap. We’re currently at 2T market cap, still SOO early.

Biden is about to print 3.5T US dollars. Meaning your dollars are now worth less because there’s more of them. No one has a say in that. Crypto is the opposite.

In its simplistic form, crypto is a public ledger where all transactions that have ever happened on the blockchain are viewable to the public. It’s cheaper, faster, safer and TRANSPARENT. And it’s decentralized, owned by the community, not the central banks and politicians. It’s supported by mathematics and technology, not credit agencies and old boys clubs.

Want access to the next electric car maker IPO? Too bad small fry, that’s for the underwriters at JP Morgan. The rich get richer.

Want access to the next pre buy coin that is creating an animated series on NetFlix using a dao token to fund the project, owned by the community of token holders? Only got $50 bucks? No problem you can join, no questions asked.

Klay is smart to accept btc. Total circulation will only ever be around 17M, when accounting for old coins that will never be recovered. That’s enough for .002 per person on the planet. Try to get your hands on one full bitcoin and store it away for safe keeping, you won’t regret it. It gets twice as hard to mine one bitcoin every 4 years, so price will always go up with a limited supply.

One btc will be worth north of 500K USD within the next decade.

Don’t listen to me or others, do your research.

Good for Klay.

The Elon Musk profile pic really puts a cherry on top of this meme post

[michaelm]

I'm not sure how you can say that given it's performance over the last decade.

The bolded isn't true. There's a fixed maximum supply of 21 million coins that can be mined, and the mining rewards half every 4 years. Plus who knows how much BTC has been lost over the years.

theres a fixed supply of coins which means it won't devalue through typical inflation like normal currencies, but i don't know why you think that means its only going to go up. the problem is that for it to actually have staying power it needs to become a functionally used currency and not just a vehicle for speculation but bitcoin cannot process enough daily transactions to ever be used in that way. its fundamentally a scam which is why its being advertised this way, it has no inherent value. and eventually it and other ecologically damaging cryptos will be legislated out of existence

As long as there is demand for BTC, then the value will keep trending up as the supply continues to get squeezed. It doesn't need to be used as currency. It's a store of value. Same thing as gold. Just saying it's a scam doesn't make it so. And I don't know what you think it's being "advertised" as.

And LOL@ecologically damaging. It's always fun to see that talking point. No one ever cries how about bad gold/silver/etc mining is for the environment, or how much electricity and waste is used in the finanicial sector. B-b-but Bitcoin is so bad! Gimme a break.

I think Bitcoin being a scam is a different thing than there being scams about Bitcoin. I get unsolicited requests to invest in Bitcoin all the time.

[sikma42]

In its simplistic form, crypto is a public ledger where all transactions that have ever happened on the blockchain are viewable to the public. It’s cheaper, faster, safer and TRANSPARENT.

That's BS, man.

There are constant stories about folks losing all their crypto to scams, to lost usb drives, etc.

Hell, I'll give you a personal example. I made a couple grand playing the altcoin roulette on Binance. I exchanged it into ETH and transferred over to CoinBase. Two of the bigger exchanges in the world, using the 2nd biggest cryptocurrency. Should be super safe, right?

Well, It asked me which protocol I wanted to use to transfer, I chose the one with less fees. Even did a test transfer first, which worked. Then did a main transfer, and Oops - I guess my browser lagged for a second and selected a different transfer protocol. Turned out I chose a protocol that Binance supported but CoinBase did not. Poof, 90% of Eth gone, can never be recovered.

Easy come easy go - but there are folks who've lost their savings because of quirks like that, or outright scams.

I won't even get into NFT, which are a bigger pyramid scam than even crypto.

Sounds like you made a mistake and tried to blame it on the "browser lagging."

[Hitachi77]

It's a speculative asset. That's all it will ever be. When there are more buyers than sellers the price goes up. When there are more sellers than buyers the price goes down. It will always be super volatile and susceptible to corruption. I hate when celebrities advertise it because millions of dumb fans will blindly follow them.

That doesn't mean you can't make money. It can even have diversification benefits. As with any risky asset, just make sure to not invest too high a % of your net worth. Don't cash out your retirement portfolio and invest it in Bitcoin. But if you want to take a gamble with $5k, by all means do it. Just understand it's a gamble. It's not like investing $5k in an S&P 500 ETF and expecting slow-medium growth.

[Harry Garris]

This just looks like a marketing ploy for Block/Cashapp.

Imagine getting paid in bitcoin and losing 20% of your salary in value the last month lol. Would be an idiotic thing to do.

Yeah well selling off your Bitcoin right as the Crypto market is tanking would also be an idiotic thing to do.

The market has low points no matter what you're invested in. Crypto tends to be more turbulent than traditional stocks but either way you wouldn't sell your holdings right after their value tanked. The market will recover over time and in the long run you profit, that's how you invest.

Except stocks go up over the long term because the underlying businesses make money. Bitcoin is just a currency that goes up and down off short term speculation. There's no reason to expect it go up long term or call it an "investment" in comparison to stocks, at least long term wise

I'm well aware of what Bitcoin is and that it's more risky than traditional stocks. Yet until the bottom falls out of the Crypto market and people just give up on it being a valid alternative of currency it's unlikely to decrease in value over the long term.

[the sea duck]

I just want bitcoin to remain cheap enough for me to reach my goals and then it can achieve it's inevitable status. We'll all own some soon.

[KembaWalker]

I'm not sure how you can say that given it's performance over the last decade.

The bolded isn't true. There's a fixed maximum supply of 21 million coins that can be mined, and the mining rewards half every 4 years. Plus who knows how much BTC has been lost over the years.

theres a fixed supply of coins which means it won't devalue through typical inflation like normal currencies, but i don't know why you think that means its only going to go up. the problem is that for it to actually have staying power it needs to become a functionally used currency and not just a vehicle for speculation but bitcoin cannot process enough daily transactions to ever be used in that way. its fundamentally a scam which is why its being advertised this way, it has no inherent value. and eventually it and other ecologically damaging cryptos will be legislated out of existence

As long as there is demand for BTC, then the value will keep trending up as the supply continues to get squeezed. It doesn't need to be used as currency. It's a store of value. Same thing as gold. Just saying it's a scam doesn't make it so. And I don't know what you think it's being "advertised" as.

And LOL@ecologically damaging. It's always fun to see that talking point. No one ever cries how about bad gold/silver/etc mining is for the environment, or how much electricity and waste is used in the finanicial sector. B-b-but Bitcoin is so bad! Gimme a break.

if BTC is just digital storage of wealth acting as a functional equivalent to gold then not sure how that does anything to argue that its not just a massive bubble. Gold is one of the worst performing assets you can buy consistently going back for as long as you can track it. I don't get the appeal long term if thats going to be the sole function of it. If you missed the bubble then it's probably long past time to get out

last 10 years
Bitcoin $BTC: +643,750%
Tesla $TSLA: +19,062%
NVIDIA $NVDA: +8,577%
Netflix $NFLX: +4,007%
AMD $AMD: +2,285%
Amazon $AMZN: +1,783%
Domino's $DPZ: 1,591%
Microsoft $MSFT: +1,311%
Apple $AAPL: +1,264%
Google $GOOGL: +826%
S&P 500 $SPY: +342%
Gold $GLD: +6%

[Kurtz]

In its simplistic form, crypto is a public ledger where all transactions that have ever happened on the blockchain are viewable to the public. It’s cheaper, faster, safer and TRANSPARENT.

That's BS, man.

There are constant stories about folks losing all their crypto to scams, to lost usb drives, etc.

Hell, I'll give you a personal example. I made a couple grand playing the altcoin roulette on Binance. I exchanged it into ETH and transferred over to CoinBase. Two of the bigger exchanges in the world, using the 2nd biggest cryptocurrency. Should be super safe, right?

Well, It asked me which protocol I wanted to use to transfer, I chose the one with less fees. Even did a test transfer first, which worked. Then did a main transfer, and Oops - I guess my browser lagged for a second and selected a different transfer protocol. Turned out I chose a protocol that Binance supported but CoinBase did not. Poof, 90% of Eth gone, can never be recovered.

Easy come easy go - but there are folks who've lost their savings because of quirks like that, or outright scams.

I won't even get into NFT, which are a bigger pyramid scam than even crypto.

Sounds like you made a mistake and tried to blame it on the "browser lagging."

What makes you say that?

Even if it's correct though, does that sound like a logical, safe system to you? Imagine a scenario where Bank A refuses to accept transactions from Bank B...but Bank B allows you to send the transactions to Bank A, and when that transaction is refused, your money becomes unrecoverable. Would that be an acceptable scenario in the real world?

[Kurtz]

And LOL@ecologically damaging. It's always fun to see that talking point. No one ever cries how about bad gold/silver/etc mining is for the environment, or how much electricity and waste is used in the finanicial sector. B-b-but Bitcoin is so bad! Gimme a break.

This is such a silly argument. The global financial system is used by nearly every global citizen and is essential to the function of every economy. Bitcoin is utterly useless as money (even its biggest proponents now admit that it's a store of value rather than currency), and is used by a tiny slither of population for a few very specific transactions.

Comparing the two is ridiculous, given that a single Bitcoin transaction produces the equivalent of something like 750,000 credit card transactions in carbon pollution:

"Alex de Vries, a data scientist at the Dutch Central Bank, estimates that each bitcoin transaction requires an average 300 kg of carbon dioxide (CO2)–equivalent to the carbon footprint produced by roughly 750,000 Visa swipes."

Here's another article on it - headline: Every single Bitcoin transaction—even buying a latte—consumes over $100 in electricity, says a new report

https://fortune.com/2021/10/26/bitcoin-electricity-consumption-carbon-footprin/

[Modulate]

theres a fixed supply of coins which means it won't devalue through typical inflation like normal currencies, but i don't know why you think that means its only going to go up. the problem is that for it to actually have staying power it needs to become a functionally used currency and not just a vehicle for speculation but bitcoin cannot process enough daily transactions to ever be used in that way. its fundamentally a scam which is why its being advertised this way, it has no inherent value. and eventually it and other ecologically damaging cryptos will be legislated out of existence

As long as there is demand for BTC, then the value will keep trending up as the supply continues to get squeezed. It doesn't need to be used as currency. It's a store of value. Same thing as gold. Just saying it's a scam doesn't make it so. And I don't know what you think it's being "advertised" as.

And LOL@ecologically damaging. It's always fun to see that talking point. No one ever cries how about bad gold/silver/etc mining is for the environment, or how much electricity and waste is used in the finanicial sector. B-b-but Bitcoin is so bad! Gimme a break.

if BTC is just digital storage of wealth acting as a functional equivalent to gold then not sure how that does anything to argue that its not just a massive bubble. Gold is one of the worst performing assets you can buy consistently going back for as long as you can track it. I don't get the appeal long term if thats going to be the sole function of it. If you missed the bubble then it's probably long past time to get out

last 10 years
Bitcoin $BTC: +643,750%
Tesla $TSLA: +19,062%
NVIDIA $NVDA: +8,577%
Netflix $NFLX: +4,007%
AMD $AMD: +2,285%
Amazon $AMZN: +1,783%
Domino's $DPZ: 1,591%
Microsoft $MSFT: +1,311%
Apple $AAPL: +1,264%
Google $GOOGL: +826%
S&P 500 $SPY: +342%
Gold $GLD: +6%

There's been several bubbles that've popped in crypto and it's kept coming back stronger. Yes, it's very volatile and a lot of is speculative but that's what happens in emerging markets.

Institutions are putting more and more money in, more and more companies have it on their balance sheets, more and more retail investors are getting involved, more people are actually using crypto platforms...and it's still early.

I don't see a good reason why it won't continue trending upwards over the long-term.

[Modulate]

And LOL@ecologically damaging. It's always fun to see that talking point. No one ever cries how about bad gold/silver/etc mining is for the environment, or how much electricity and waste is used in the finanicial sector. B-b-but Bitcoin is so bad! Gimme a break.

This is such a silly argument. The global financial system is used by nearly every global citizen and is essential to the function of every economy. Bitcoin is utterly useless as money (even its biggest proponents now admit that it's a store of value rather than currency), and is used by a tiny slither of population for a few very specific transactions.

Comparing the two is ridiculous, given that a single Bitcoin transaction produces the equivalent of something like 750,000 credit card transactions in carbon pollution:

"Alex de Vries, a data scientist at the Dutch Central Bank, estimates that each bitcoin transaction requires an average 300 kg of carbon dioxide (CO2)–equivalent to the carbon footprint produced by roughly 750,000 Visa swipes."

Here's another article on it - headline: Every single Bitcoin transaction—even buying a latte—consumes over $100 in electricity, says a new report

https://fortune.com/2021/10/26/bitcoin-electricity-consumption-carbon-footprin/

https://www.bitrawr.com/mining/bitcoin-energy-consumption-debunked

[Roco14]

Crypto is here to stay but Bitcoin in particular is surveillance garbage and fungible, and 95% of the general population/this forum isn't even aware of it sadly. Hopefully that will change with time.

[RoyceDa59]

I’ve gone 50x since my initial (sizeable) crypto investment in 2017. In 4 years. My life has been changed forever, it was the best decision I ever made.

And we’re still only getting started. Will probably 3-5x entire portfolio again this year.

Just sold 12 NFT’s for a 4.5x. Walked away with 6 ethereum from an initial investment of 1.5.

If anyone tells you crypto is a scam, start asking them questions about it. You’ll quickly learn they literally don’t know anything about it, don’t understand how it works, the technology that drives it, the communities that support it, and that they’re talking out of their cornholes. The naysayers haven’t spent hundreds of hours learning researching it, so why listen to them? They read a couple articles.

Don’t waste time listening their ‘advice’, start doing your own research.

Crypto is volatile because of its hyper growth and there have been and will continue to be big market corrections on the way to a 150T global market cap. We’re currently at 2T market cap, still SOO early.

Biden is about to print 3.5T US dollars. Meaning your dollars are now worth less because there’s more of them. No one has a say in that. Crypto is the opposite.

In its simplistic form, crypto is a public ledger where all transactions that have ever happened on the blockchain are viewable to the public. It’s cheaper, faster, safer and TRANSPARENT. And it’s decentralized, owned by the community, not the central banks and politicians. It’s supported by mathematics and technology, not credit agencies and old boys clubs.

Want access to the next electric car maker IPO? Too bad small fry, that’s for the underwriters at JP Morgan. The rich get richer.

Want access to the next pre buy coin that is creating an animated series on NetFlix using a dao token to fund the project, owned by the community of token holders? Only got $50 bucks? No problem you can join, no questions asked.

Klay is smart to accept btc. Total circulation will only ever be around 17M, when accounting for old coins that will never be recovered. That’s enough for .002 per person on the planet. Try to get your hands on one full bitcoin and store it away for safe keeping, you won’t regret it. It gets twice as hard to mine one bitcoin every 4 years, so price will always go up with a limited supply.

One btc will be worth north of 500K USD within the next decade.

Don’t listen to me or others, do your research.

Good for Klay.

I don't understand how it will be a currency if it's limited supply. Why would anyone ever sell it? That's the part that never made sense to me

You can trade, buy, sell, swap fractions of any crypto currency, including bitcoin.

So I could send you .005 bitcoin.

[Lala870]

And people still will bury their heads in the sand and act like they aren't pushing an agenda with this crypto BS

[Lala870]

User error doesn't refute that, there are countless people falling to scams with real money.

The user made the claim that crypto is safer, which is an outright lie.

If you get scammed on a credit card purchase - CC will get you your money back. If your bank goes bankrupt - your savings are insured (up to a certain amount). If you try to make a purchase but the vendor doesn't accept a type of credit card...the purchase simply doesn't go through.


With crypto, there are absolutely no safeguards and no legal recourse, and every exchange makes up its own rules.

In 2021, there was $14bil lost to crypto scams. Tens of billions have been lost by people who lost their wallets/keys. And that's with a global adoption rate of only 2.5% (and those 2.5% use it scantly, unlike actual currency, due to crypto being a laughably ineffective method of payment).

I remember trading crypto for fun, it was such a **** process. Moving money in and out took forever from binance. It's been around for more than 10 years and there still are no useful real world use cases. Just more scams and a waste of energy mining cryptos.

Yup but sadly there is a greater agenda behind crypto. World will find out sooner or later.

[toodles23]

In its simplistic form, crypto is a public ledger where all transactions that have ever happened on the blockchain are viewable to the public. It’s cheaper, faster, safer and TRANSPARENT.

That's BS, man.

There are constant stories about folks losing all their crypto to scams, to lost usb drives, etc.

Hell, I'll give you a personal example. I made a couple grand playing the altcoin roulette on Binance. I exchanged it into ETH and transferred over to CoinBase. Two of the bigger exchanges in the world, using the 2nd biggest cryptocurrency. Should be super safe, right?

Well, It asked me which protocol I wanted to use to transfer, I chose the one with less fees. Even did a test transfer first, which worked. Then did a main transfer, and Oops - I guess my browser lagged for a second and selected a different transfer protocol. Turned out I chose a protocol that Binance supported but CoinBase did not. Poof, 90% of Eth gone, can never be recovered.

Easy come easy go - but there are folks who've lost their savings because of quirks like that, or outright scams.

I won't even get into NFT, which are a bigger pyramid scam than even crypto.

Sounds like you made a mistake and tried to blame it on the "browser lagging."

Why would anybody ever want to live in a world where they could lose their entire life savings from tiny errors? No crypto detractor is as good at making it look stupid and dystopian as a crypto bro.

[sikma42]

That's BS, man.

There are constant stories about folks losing all their crypto to scams, to lost usb drives, etc.

Hell, I'll give you a personal example. I made a couple grand playing the altcoin roulette on Binance. I exchanged it into ETH and transferred over to CoinBase. Two of the bigger exchanges in the world, using the 2nd biggest cryptocurrency. Should be super safe, right?

Well, It asked me which protocol I wanted to use to transfer, I chose the one with less fees. Even did a test transfer first, which worked. Then did a main transfer, and Oops - I guess my browser lagged for a second and selected a different transfer protocol. Turned out I chose a protocol that Binance supported but CoinBase did not. Poof, 90% of Eth gone, can never be recovered.

Easy come easy go - but there are folks who've lost their savings because of quirks like that, or outright scams.

I won't even get into NFT, which are a bigger pyramid scam than even crypto.

Sounds like you made a mistake and tried to blame it on the "browser lagging."

Why would anybody ever want to live in a world where they could lose their entire life savings from tiny errors? No crypto detractor is as good at making it look stupid and dystopian as a crypto bro.

I just happen to work in this industry and understand how it works.


Sent from my iPhone using RealGM mobile app