Let me put it too you simply Jay. If Bitcoin does not outperform gold until we are many times bigger than it, Bitcoin is a niche sideshow and will not be the basis of any new monetary system. I consider this a loss to humanity and a win for authoritarians who can use fiat and gold to detriment of the commoners. This is my opinion, you can whine on about anything you want.
In this case, I consider you to be the whiner.
I can recall just a few short years ago, bitcoin was around 1/100th or perhaps 1/1,000 the size of gold, in terms of marketcap.
In recent times (perhaps the last year or so) bitcoin has been bouncing between 1/8th and 1/10th of gold's market cap.
Hardly, anything to worry about, even though folks like you are ongoingly whining that bitcoin is not performing well enough.
I also see no reason to proclaim some arbitrary goal (as decided by you) that bitcoin has to reachin any particular time in order to NOT continue to be the most sound money that man has ever known.
You might perceive that bitcoin is not growing fast enough, and personally, I have no such perception since there is no particular schedule that bitcoin has to meet as long as it continues to serve as the most sound money that is a available, value will continue to gravitate into bitcoin, even if you and some others are seeming to have difficulties perceiving such ongoing gravitation because you are so busy setting up artificial hurdles that bitcoin needs to supposedly cross before it meets your approval.
If we could come up with a bet, then I would be more than willing to enter into the pro-bitcoin side of such bet while you can fuck around taking the side of the inferior (and mostly off-topic) asset that has already proven itself as inferior, even though it has been going through some seemingly recent revivals.
I would be more than happy to take your money based on how your "opinion" seems to differ from my own, if we can think of some kind of framing that might be bettable, besides our mere ongoing allocations that we are currently taking, which mine is in bitcoin and likely you have some perhaps paper gold that you are fucking around with.. or are you just talking so gleefully about your next best friend (ie gold) and you don't even have any position in it?
Why is there a need to whine
well, look what thread youre in for a start
derpThe whining observer?
The "we want bitcoin to pump more," thread?
Or maybe we are in the "
I just cannot get enough" thread?
Let me put it too you simply Jay. If Bitcoin does not outperform gold until we are many times bigger than it, Bitcoin is a niche sideshow and will not be the basis of any new monetary system. I consider this a loss to humanity and a win for authoritarians who can use fiat and gold to detriment of the commoners. This is my opinion, you can whine on about anything you want.
This could happen you would be correct to bemoan it if it does.
I agree with that. If what somac is saying ends up happening, then surely it would be problematic, yet i still think that somac is way too early in bemoaning it before it even happens. I recall attempting to talk him off of a similar ledge - perhaps in 2020 or 2021.. He was all in a bad mood and saying bitcoin is not performing well enough and blah blah blah.. but then he seemed to temporarily cheer up once we got a pump.
So yeah of course, he is entitled to his opinions and to his feelings.
I doubt that I am the ONLY one in these here parts who considers the various Negative Nancy party poopers to be a bit much and a wee bit premature. We had a bitcoin all time high just 6 days ago, and there are various whiners proclaiming that the bull run is over upon a mere (so far) 13% price correction.
Remember we go by Bitstamp in these here parts.
At this time, we have an ATH = $126,272 on October 6th, and so far low for this correction was $109,683 on October 10th.
Sure we had some exchanges going lower even close to $102k, yet I doubt that exchange variation counts for much, especially when we seemed to have had a quite a bit purging of shitcoin froth (and purging of leverage in the system) going on too.
R0ach would have certainly approved this Gold Observers thread.
It is a pity there is a big chance he did miss it all considering his date of last appearance coincides with the early months of covid. Go figure.
I believe he was all about silver though wasn't he?
Hopefully, gold is just leading the way and Bitcoin will soon follow and then exceed. Bitcoin looks so under bought right now and I'm surprised that it is not being seen by the market.
He preferred both against Bitcoin. But yeah, he was most into silver... I member his ridiculous excuses when questioned about the impracticalities of "storing" even $1M into silver (thousands of Kgrs at the time).
Yeah, before this gold bullrun I was worried that Bitcoin market cap was reaching "too close" to gold market cap while probably being too soon to "replace it"... now we again do have ample margin to the upside before that happens. We will see.
Fair point.
There is nothing even wrong with Gold's pump, relative to bitcoin, since you are correct, bitcoin was catching up to gold too fast... so it is good that the shiny paperized rock has been able to show some life in recent times. Doesn't hurt bitcoin's investment thesis, at all - at least not according to this here cat.
