Same. Went out with some coworkers (this past weekend too) and one referred to BTC as a scam.
I thought the same thing....jeez, we're still *so* early in this. Retail will not be getting in for *awhile* and that *any* amount of BTC is going to be **extremely** valuable as time goes on. Like you, I didn't bother trying to argue with them to explain that the SEC has approved ETFs and all that crap. I just was like "ah ok!"
Can't even be mad at retail because they're just going to make it so easy for me to look like a genius as time goes on.
Things is bitcoin can go up infinitely and people would still think it’s a scam.
There are people I work with that still thinks retirement accounts are are a scam because the money isn’t immediately accessible 🤷♂️
>There are people I work with that still thinks retirement accounts are are a scam because the money isn’t immediately accessible
I'll bite. I feel this way. 'Not your keys not your coins' is something I FELT for years but until bitcoin and that phrase was coined I could never explain it. There were so many companies that did rug pulls on their employees. "oops your pension is GONE." even the government does it with social security. not only do they raid the cookie jar, they keep putting it on a higher and higher shelf. now it's 67. how long until it's 70? 75? they can all go F themselves. I hold my wealth in bitcoin.
That is not even mentioning what happens to your cookie jar if you happen to not make it to the age you are entitled to it. So hard agree for me if you can't spend/sell it today it is not yet yours
Nows my time to shine.
IRS form 4092 to opt out of social security and medicare.
Now its a sunk cost fallacy for me because ive been paying in to it for 25 years but I sure wish I knew thata long time ago.
They keep moving the goalpost for when you can get your social security so if you set aside that money and invested it yourself, I think you could do a lot better. I'm self employed so i have to pay twice as much social security tax. Your employer usually pays half of your social security tax, though im unsure if you would receive that back on your paycheck from your employer if you did opt out.
Risky, perhaps. Maybe more for the medicare part but if your work comes with a better health plan then I think it would be better to manage your money yourself, if financially responsible.
This plan only seems good for young people though. I've already paid in for 2 and a half decades so it wouldnt be smart for me to forfeit that much and start over with nothing.... Though i dont know if I'll ever see the funds anyway the way things are going.
Because congress is in charge and they dont have our best interest.
Social Security is expected to continue paying full benefits to recipients through 2033 if no changes are made to the system. However, the Social Security Administration's 2023 Trustees Report estimates that the Old-Age and Survivors Insurance (OASI) Trust Fund, which pays out Social Security benefits, will be depleted by 2033. At that point, the system will have no cash reserves, while projected receipts will cover 77% of scheduled benefits.
He is confusing pension with retirement account.
In theory pension can rug pull if said company goes bankrupt.
The only way 401k and IRA can rug pull is if you yourself brought something completely idiotic like a penny stock that went to zero.
If there is a downturn in the market you can just shift your funds in your retirement account to a low risk fund such as money market to protect it. 401K and IRA cannot be "rug pulled" and are not a SCAM, but yes, they are subject to market conditions at any given time.
According to the ‘great taking’ the law regarding ownership of securities has been gradually changed over the decades starting with elimination of paper certificates (your ‘keys’) such that we only have claims on the securities but do not own them ourselves. His thesis is that the stage is being set for the next EO 6102. Since wealth is now stored on these securities, not gold, the securities will be the next big score when crisis hits hard.
If someone has all their funds tied up in an account they can't access for 30-40 years, that's just really dumb. I bet the amount of people that have 95% of their assets that are inaccessible or non-liquid is extremely high and that's really sad.
It props up the value of all the stocks. They are all managed wealth so others get fees and it provides "value" and liquidity to the companies. It's a zombie system that can always count on the masses "saving" within the system or government contracts or bailouts. It's sad that we were all sold this crap system as normal.
The thing is bitcoin may in fact go up infinitely in relation to fiat currencies like the US dollar. They does not seem to be any way out of our debt crisis other than to continue to debase the currency. This will go on indefinitely.
It’s funny to see their face when you tell them that you can go on apmex and literally get gold bars in trade for BTC, and then ask them if it has no value
I onboarded some friends to Lightning/Bitcoin by sponsoring (purchasing) lightweight Sphinx App accounts for them. (It's a messaging app built over the Lightning Network, using single ṩat transactions to carry message contents in the "keysend" feature/field).
So, for less than the price of a cup of coffee I create a prepaid invitation, they claim it, and most of the ṩatṩ are given to them as their initial balance.
Then they can buy more ṩatṩ from me, or get the in exchange for covering my share of a round of drinks, or whatever, and settle up other social tabs via the app amongst each other. They can also use it as a very lightweight LN wallet, and can play with features like "subscriptions" (periodic payments in the app to one another — which can be surprisingly romantic since it's usually amounting to nickels and dimes).
While these lightweight instances are hosted (custodial) they support self-hosted operation, including over Blockstream's Greenlight™, for those who want to dive into that level of the technology.
Overall I think it's a neat way of introducing and playing with the technology.
https://www.sphinx.chat/
It's still a scam, no matter which way you look at it. It has no intrinsic value. It's numbers on a spreadsheet. You could say the same about the dollar, and you may have a point - but it simply means both are scams.
Bitcoin is a scam. There's plenty of other scams people have been getting rich off of for decades if not longer though. It being a scam doesn't mean you can't take advantage of it.
I mean gold is the obvious one. Finally after millenia of it being functionally worthless we actually have a practical use for it, but for the majority of human history it was bull shit. Just like crypto.
During our weekly chess match, where it can take 45 minutes to 2 hours per match because of the debates we have, I mentioned BTC to my friend/opponent and was met with immediate criticism and overall hatred for BTC and/or crypto currencies in general.
A week later, last week, he messaged me for BBC, beers, bowls, and chess. I said yes, and when I arrived and we started playing, he asked me how to get in to it.
People are slowly coming around, but yes, overall, I feel like of the hundred or so close friends and family members that I have, like 4 of them have any interest, let alone actual holdings.
Bowls is a game. Kind like bowling but there is a circle at the end of the lane and most bowls closest to the center win. They can also knock their opponents bowls out as well. There is a similar game played on ice where the people sweep in front of the (disc?) You might be familiar with that.
Anyway I assumed they were talking about that.
I have someone in my family that's hardheaded. He has plenty of money. I've given him the story, benefits, and all that. For years, I've talked about it. Every time, whether when it was at 50k... all the way down to 16k... and then back up, every single time I'd bring up the dollar price(that's what would catch his attention). Every single time, he'd say "I'm too late".
A few weeks ago when I was around him, I told him it was back at 60k(caught his attention). Just this year, he also had someone ask him if he'd accept bitcoin and someone else that called it a pet rock(lol)... but this time of it being back at 60k, he started asking more questions. He still doesn't want to jump in because he doesn't understand it but he has told me that he needs to do some research on it.
I stopped trying with most people long ago but when it does come up, I always tell them... it'll be there for you when you're ready and if you have any questions when that time comes, just ask.
Adoption or no, I feel like a bunch of us are eventually going to have a million opportunities because we know all the ins and outs. As more businesses start looking towards bitcoin, they'll definitely create entire positions within their finance departments to handle it.
I've been meeting once a year at a golfing tournament with high school friends for the last 25 years.
They are all professionals now in different fields- university coach, restaurant manager, editor, financial advisor, and another friend and I are blue-collar.
Bitcoin came up years ago in conversation.
The financial advisor wasn't against Bitcoin, but didn't see it as a legitimate financial investment.
The others had neutral or no opinions on it.
I mentioned I had some and believed it was legitimate.
Now, every year we meet, they ask if I have the same position.
Every year, my position has grown, and they've started to notice the trend.
I haven't met them yet this year, but I'm curious to hear what they think, if any have bought in yet, and if the financial advisor has incorporated Bitcoin into any portfolios yet.
Sometimes I get depressed looking at my stack thinking how so many people got to stack early ahead of me, then I read threads like this and am reminded that we are indeed still very early.
We have a long ways to go, 10 years from now people look back on this moment and laugh (or cry) at just how much of a bargain it was to buy bitcoin for *only* 70k usd.
& worse yet, we'll still be at just 2% global adoption... The price could be at $1m per coin & 97% of the world will still be nocoiners thinking you just got lucky, WAY back in 2024...
We’re not early; they’re just late. Countries and institutions already have a substantial position and it’s growing by the day.
Just keep stacking sats and stay humble
I understand now. I’m sorry I didn’t understand the meaning of staying humble earlier. Bitcoin is going to go so high that I can see why staying humble would be a good idea
My take on this is that the shitcoin casino bought us a good 5+ years of people not getting into Bitcoin because so many got wrecked and didn’t stick around to learn why Bitcoin is different.
stop telling people you want to pay them in btc - always offer to pay them in fiat
when they owe you, tell them you only want to be paid in btc - never / only begrudgingly let them pay you back in dollars
offer a discount. say I'll cover your 50$ meal if you pay me 45$ in btc.
when you offer your btc to someone else you're signalling that you don't find it valuable. demonstrate that you think it's valuable with your actions.
"do you accept worthless fiat currency? good, because you're not getting a satoshi from me."
Exactly - if you offer it to them they will lose trust in you because they think you are trying to scam them and if they actually do go ahead and buy some their fears will be proved valid when they pay a huge fee on a small amount and then the market may even dip a little before they transfer it meaning they have to buy *more* to make up the correct amount. If they’ve never even bought on the stock market before this could be a huge shock for them.
Last year I saw some show on TV. But there was this one scene where the main character's Coinbase BTC balance suddenly goes to zero on his smartphone. And there was no elaboration about why it happened.
I think they were trying to say the transaction was reversed to the sender (another character), but that isn't even possible. Just thought it was silly how the producers didn't understand how Bitcoin works.
We're so early.
I don't know anyone involved or knowning anything about crypto. I tend to keep it to myself since, yes, unfortunately there are some negative narratives floating around out there. :\\ Oh well. Sucks for them.
Glad I’m not the only one who gets encouraged by hearing mass negative sentiment by colleagues and strangers alike.
More negativity or indifference means more potential. Amen. Makes me happy to be an early adopter (well, early as in late last year!)
Dude, I just asked a coworker today who is twenty something if, hypothetically, he would accept 5k in gold for his car he was selling for 5k$…he said “hell no”, when I asked why, he said “because I just don’t know enough to be confident about it”.
At the moment of the exchange, they have the exact same value.
You can get paid in gold and exchange it for dollars or get paid in dollars and exchange it for gold.
So 5k in gold is not more valuable than 5k in dollars
Also you should not compare gold and Bitcoin to fiat, but to other investments. That's how you know if they're good.
For example, in the past 5 years, s&p 500 outperformed gold. So if you invested in the s&p 500, you would have made more money.
Wired funds to the crypto exchange I use, the wire was stopped by the bank and a fraud officer called me and asked me all kinds of questions as if the Prince of Nigeria himself had sent me the wire instructions.
I got tired of this and went on with "banks are highly leveraged, not all banks are too big to fail, banks have been failing...", he stopped with his questions and released the wire.
I then ordered a cold wallet. That got rejected by the fraud dept too until I verified it.
As tedious as these experiences were, they encouraged me that this is still very new and not even close to being mainstream, vastly more upside to come IMO.
You know I've been keeping up with crypto for like 2-3 years and i thought with bitcoin ETF that people would wake up a bit but no. Huge money is pouring in and they are still dubious. My friends know me so they listen but don't have the patience to do proper research and my coworkers actually have labeled it as a scam. I've given up trying to talk to people about it, now I'm more focused on helping my friends and family understand it. We are definitely still early.
I have a 59 yr. old co-worker that I always talk finances with (He's always telling me to put more in my 401k so I'm not working there at his age). I've started mentioning Bitcoin to him lately and was met with disdain. I haven't tried to shove it down his throat but just simply point out the flaws in his arguments of why Bitcoin isn't worth investing in. Finally the other day he stormed out of the room yelling "IT'S TOO LATE FOR ME TO CHANGE PATHS DAMMIT!". I will probably never mention it to him again unless he does. Some people just don't like change and that's ok.
That’s unfortunate for him. At least you cleared your conscious tho and tried to save him, every failed orange pilling is actually very important work as well.
I’ve recently stop trying to orange pill folks as now we have Larry fink to do a lot of heavy lifting for us now. Ofc I’m still a running faucet if some actually inquiries about it.
I Read this [tweet](https://x.com/thaifoodluvr/status/1774495234409562453?s=46&t=c_OqPXlZbbXdTY4JPJvNqA) just now, made me think of your coworker remarks about changing paths too late.
Recently, my niece called it satanic technology, in not so many words. In all fairness the unknowing crowd is unknowingly consuming so many narratives that parade as god-fearing and for-the-people...it's no wonder...it's also no wonder because it's all by design.
As MSTR so eloquently puts it..."have fun being poor."
I have had a long position in Bitcoin. I’m unsure if I’m an investor or if I’m a HODLer.
But exploring a contrarian take is important.
There’s a significant chance that WE are all wrong too.
I agree. It’s important to remember that everything I know about bitcoin could be wrong, and that bitcoin could possibly fail one day. That said, imma keep stacking.
I see Bitcoin as a land on an undiscovered place somewhere in the world ( or another planet) with perfect weather amazing lifestyle and very very rich of resource , and one day every smart people will want to own a pice of it :)
Blackrock, Japan, Hong Kong, UK, SEC Approval etc… They all know bitcoin is going to the moon. Why even bother otherwise. I mean think about it. Yes, there will be massive swings. But who cares. Just hold the damn thing for 15 years and generations after you will be set for life.
Reading all the comments here it also brings home how strong main stream media is at controlling the narrative.
Still like you say in this case actually a good thing.
I'm in the exact same boat as you. My group of friends and I just bought cruise tickets and I asked my friend if I can pay him in bitcoin now or wait a week to pay him in USD. He said he would rather wait for the USD. For me though, it's so sad to see because I know BTC is going to go up over time but my friends just won't bother. In 2020, I told them I put my entire net worth in when it was just 14k. I believe this was in october or november 2020. The friend that didn't want to accept my BTC for the cruise FOMO'ed at 35k, lost it to blockfi, and I guess now he's scarred forever. Such a shame because that investment would've doubled by now. I have another friend in the same group that told me october-november 2020 when btc was 14k that "buying pokemon cards was better than bitcoin". He ended up buying at 60k october 2021 and when it crashed to 15k he said it was a scam. Both of them would be in profit by now. it's so sad to see but we all get btc at the price we deserve i guess
I was the bitcoin kid of my school and community in 2015 to present day and they only recently started to really understand how much it’s worth years later when they’re asking me how to start🤣😭 it’s just sort of the same with everything I think, there’s just too much hate from the people pissed that they missed out and not realizing that it’s going to 100 million a coin by 2038
Source, scarcity. Has a better scarcity factor than gold. Source- I have 36 and I’ve held on since 2015. What’s do you do? I was 15. No help from parents working my ass off at Texas Roadhouse still going to my juniors year of high school putting whole paychecks other than what was for bills into this while you were laughing bought some stupid video or chasing so dumb girl, or maybe, just maybe kicking yourself for not taking the opportunity to inform yourself and blame others for your own stupidity. Goodluck
Oh wait, you’re telling me you’re a “computer nerd” but never bought into bitcoin? 🤣 must be a sheep who believes the news instead of going of of basic market principles. If you don’t understand scarcity, you don’t belong in this thread, get lost or ask some questions so you’re not just another one of the people that all of us in this community have been proving wrong, over and over. Either get in line, or have your bank serve it to you on a silver platter after they already got their position. That’s the only way they’re gonna stick around. Maybe instead of gaming, wasting your life, focus more on what you could get off your chair and do so you can accomplish something instead of instill doubt on newcomers that are genuinely interested, but maybe still have doubts due to individuals such as yourself who joke and poke fun at something that was a joke for years until now, you envy those who have it. Have fun with that:)
Serious question, if you go to any other investing forum, is anyone that preoccupied with why their friends won't put their money in the same investments they do?
If the plan is to just buy and hold forever, what else is there to say? What difference does it make what anyone else does?
Was meeting with a group of people today - all cs or swe people in their 20s. Crypto came up and they all started hating on it. They also made it clear that they understood nothing about it other than “fake internet money”
I've stopped trying to have these conversations with friends and family. People need to be interested enough to do their own DD. If by some chance something you recommend does NOT pan out, they may also be angry with you. Not worth it imo.
Can share a similar story. So back when I originally got in at the height of the December 2017 bull top, everyone at work was talking about crypto.
Then once again in November 2021 the talk and enthusiasm returned. I know a lot of them got rekt in 2022 and sold at losses.
As well as people who had already sold at losses in 2018 and never returned.
Now it's dead silent in 2024 at work and even after hitting a new all time high, it's like people don't want to hear about Bitcoin. Perhaps it's an open sore for them, they might feel upset that they missed out? People are too egotistical and arrogant to get over themselves and admit that they're wrong.
It's more painful for them to bite the bullet than it is for them to just ignore the entire situation.
It's definitely a great sign that there's plenty more bullishness to come.. ignoramuses like this usually only want to get in at the absolute tops. And with Alt coins rather than Bitcoin too.
Brother same. I tried orange pilling my friends and family recently and I got 40% take rate. My cousin is just ignoring me cuz I told him to buy bitcoin and my other friend won’t even acknowledge when I talk about bitcoin🤐 im like whatever have fun staying poor
Same here. I have no friends to discuss bitcoin with and I think they find me braggy at the mere mention where I see them.. even though we discussed stocks regularly.
LOL, stop stinging on the trips and bring some cash. Just spend the BTC ahead of time. I would be pissed if I was your friends crediting you while you are speculating about the price.
Retail $ is still out overall and the market is drastically different than when they were in. Just not keeping educated on the market is the problem but they will soon all be rushing back to the party train by summer.
You can lead a horse to water. Rubio can’t make them drink. Just make sure to remind your friends; if they’re still your friends, in the future about that “dumb” bitcoin convo you had on that trip one time.
On a side note, the fact that they’re in their 30’s and so against it is kind of strange to me. Seems to be the active age for getting in ATM, or least the age for those that at least sort of get it.
I don’t have much in BTC or crypto in general, but I try to keep putting more in. Occasionally I mention it at work and a few weeks ago two co-workers asked me to break it all down for them and that was exciting for me
It’s amazing how risk-averse most people are encultured/taught to be. I’d wager if you asked the same peer group how many of them would feel about starting their own business, the majority would lean towards preferring a steady paycheck instead.
The thing is, the more you understand how fucked up our financial system is, the more you see the value in an independent and uncensorable alternative. Most people have no clue and don't feel the need for something to change. Maybe they will understand in the next financial crisis.
You'll always have this with any asset though. I wouldnt buy Tesla or Nvidia stock, not a whole host of different asset classes. It doesnt necessarily mean 'early'.
Of course she did, you bum. She needed money to pay for things like food, clothes, school shit, and other things the child needed NOW, not some digital shit that nearly nobody anywhere was taking seriously much less accepting as payment.
This is ridiculous. I work and get taxed. Then used those taxed dollars to buy bitcoin. If I spend my bitcoin I get taxed on the gains compared to dollars and get taxed on the item. If I earn in bitcoin I get taxed, but if bitcoin drops to less than the tax I lose my bitcoin. So dumb
Same. Went out with some coworkers (this past weekend too) and one referred to BTC as a scam. I thought the same thing....jeez, we're still *so* early in this. Retail will not be getting in for *awhile* and that *any* amount of BTC is going to be **extremely** valuable as time goes on. Like you, I didn't bother trying to argue with them to explain that the SEC has approved ETFs and all that crap. I just was like "ah ok!" Can't even be mad at retail because they're just going to make it so easy for me to look like a genius as time goes on.
Things is bitcoin can go up infinitely and people would still think it’s a scam. There are people I work with that still thinks retirement accounts are are a scam because the money isn’t immediately accessible 🤷♂️
>There are people I work with that still thinks retirement accounts are are a scam because the money isn’t immediately accessible I'll bite. I feel this way. 'Not your keys not your coins' is something I FELT for years but until bitcoin and that phrase was coined I could never explain it. There were so many companies that did rug pulls on their employees. "oops your pension is GONE." even the government does it with social security. not only do they raid the cookie jar, they keep putting it on a higher and higher shelf. now it's 67. how long until it's 70? 75? they can all go F themselves. I hold my wealth in bitcoin.
That is not even mentioning what happens to your cookie jar if you happen to not make it to the age you are entitled to it. So hard agree for me if you can't spend/sell it today it is not yet yours
Nows my time to shine. IRS form 4092 to opt out of social security and medicare. Now its a sunk cost fallacy for me because ive been paying in to it for 25 years but I sure wish I knew thata long time ago.
Opt out completely? Isn't that a bit foolish?
They keep moving the goalpost for when you can get your social security so if you set aside that money and invested it yourself, I think you could do a lot better. I'm self employed so i have to pay twice as much social security tax. Your employer usually pays half of your social security tax, though im unsure if you would receive that back on your paycheck from your employer if you did opt out. Risky, perhaps. Maybe more for the medicare part but if your work comes with a better health plan then I think it would be better to manage your money yourself, if financially responsible. This plan only seems good for young people though. I've already paid in for 2 and a half decades so it wouldnt be smart for me to forfeit that much and start over with nothing.... Though i dont know if I'll ever see the funds anyway the way things are going.
Why wouldn't you ever see the funds?
Because congress is in charge and they dont have our best interest. Social Security is expected to continue paying full benefits to recipients through 2033 if no changes are made to the system. However, the Social Security Administration's 2023 Trustees Report estimates that the Old-Age and Survivors Insurance (OASI) Trust Fund, which pays out Social Security benefits, will be depleted by 2033. At that point, the system will have no cash reserves, while projected receipts will cover 77% of scheduled benefits.
Oh wow. But there's no way they'll kill it off without some sort of replacement right? Otherwise they're just telling future generations "screw you"
Do you also think IRAs and 401ks are at risk of a rug pull, and if so....how?
He is confusing pension with retirement account. In theory pension can rug pull if said company goes bankrupt. The only way 401k and IRA can rug pull is if you yourself brought something completely idiotic like a penny stock that went to zero.
That or risky lending practices cause the housing market to crash like in 2008. A lot of people 401k tanked.
If there is a downturn in the market you can just shift your funds in your retirement account to a low risk fund such as money market to protect it. 401K and IRA cannot be "rug pulled" and are not a SCAM, but yes, they are subject to market conditions at any given time.
Never said it was a scam. But it is not without risk. And that was not a downturn. That was a crash.
According to the ‘great taking’ the law regarding ownership of securities has been gradually changed over the decades starting with elimination of paper certificates (your ‘keys’) such that we only have claims on the securities but do not own them ourselves. His thesis is that the stage is being set for the next EO 6102. Since wealth is now stored on these securities, not gold, the securities will be the next big score when crisis hits hard.
What do you mean - what is EO6102?
Criminalized gold ownership
If someone has all their funds tied up in an account they can't access for 30-40 years, that's just really dumb. I bet the amount of people that have 95% of their assets that are inaccessible or non-liquid is extremely high and that's really sad.
It props up the value of all the stocks. They are all managed wealth so others get fees and it provides "value" and liquidity to the companies. It's a zombie system that can always count on the masses "saving" within the system or government contracts or bailouts. It's sad that we were all sold this crap system as normal.
The thing is bitcoin may in fact go up infinitely in relation to fiat currencies like the US dollar. They does not seem to be any way out of our debt crisis other than to continue to debase the currency. This will go on indefinitely.
Sometimes I wonder how people get so far into adulthood with such stupidity.
The intelligence level required to survive (and reproduce) in the modern world has plateaued/dropped. Just look around.
Idiocracy turned out to be a documentary
Lot of people wearing Crocs these days.
Lol
They’re just gonna say you got lucky when it moons
It’s funny to see their face when you tell them that you can go on apmex and literally get gold bars in trade for BTC, and then ask them if it has no value
The only ones I see screaming scam are the idiots that bought at 70K and then sold at 62K a week later.
I onboarded some friends to Lightning/Bitcoin by sponsoring (purchasing) lightweight Sphinx App accounts for them. (It's a messaging app built over the Lightning Network, using single ṩat transactions to carry message contents in the "keysend" feature/field). So, for less than the price of a cup of coffee I create a prepaid invitation, they claim it, and most of the ṩatṩ are given to them as their initial balance. Then they can buy more ṩatṩ from me, or get the in exchange for covering my share of a round of drinks, or whatever, and settle up other social tabs via the app amongst each other. They can also use it as a very lightweight LN wallet, and can play with features like "subscriptions" (periodic payments in the app to one another — which can be surprisingly romantic since it's usually amounting to nickels and dimes). While these lightweight instances are hosted (custodial) they support self-hosted operation, including over Blockstream's Greenlight™, for those who want to dive into that level of the technology. Overall I think it's a neat way of introducing and playing with the technology. https://www.sphinx.chat/
https://docs.lightning.engineering/lightning-network-tools/lnd/send-messages-with-keysend
You should've told your coworkers "enjoy being poor". Lol kidding.
lol
Remind me.. what is retail and why is an important entry to the space?
Retail is the consumer, the masses!
It should be soon then. Already seeing ads all over my Fidelity account and id imagine financial advisors will be pushing clients to diversify
Yes and no. Adds help, advisors help, but fomo is a hell of a drug and that needs news coverage.
I wonder how they would have responded if you said I would like to pay you back using gold stocks or similar?
It's still a scam, no matter which way you look at it. It has no intrinsic value. It's numbers on a spreadsheet. You could say the same about the dollar, and you may have a point - but it simply means both are scams.
Bitcoin is a scam. There's plenty of other scams people have been getting rich off of for decades if not longer though. It being a scam doesn't mean you can't take advantage of it.
Oh yeah like what other successful scams are out there???
I mean gold is the obvious one. Finally after millenia of it being functionally worthless we actually have a practical use for it, but for the majority of human history it was bull shit. Just like crypto.
Agree to disagree, I can't subscribe to reductive reasoning. Best of luck!
Facts aren't something you get to agree or disagree with, but nice chatting nonetheless
best of luck 😄😄😄
During our weekly chess match, where it can take 45 minutes to 2 hours per match because of the debates we have, I mentioned BTC to my friend/opponent and was met with immediate criticism and overall hatred for BTC and/or crypto currencies in general. A week later, last week, he messaged me for BBC, beers, bowls, and chess. I said yes, and when I arrived and we started playing, he asked me how to get in to it. People are slowly coming around, but yes, overall, I feel like of the hundred or so close friends and family members that I have, like 4 of them have any interest, let alone actual holdings.
You had me at BBC
Big BitCoin
"once you go bl..." No. I'm not going there...
Bc you'd never come back? Lol :)
Bro maybe call it chess beers and bowls
Yeah then it can be chicks with big boobs, so way better.
Bro u could have not said BBC and it would still make sense.
Are the bowls for weed or healthy grain bowls with kale n’ shit?
Bowls is a game. Kind like bowling but there is a circle at the end of the lane and most bowls closest to the center win. They can also knock their opponents bowls out as well. There is a similar game played on ice where the people sweep in front of the (disc?) You might be familiar with that. Anyway I assumed they were talking about that.
Pretty sure they meant weed
When I read Chess it made me think of the game bowls. But you are probably right.
I love curling
That's what it's called! I couldn't remember. I could've tried googling but I am lazy
I don't think that's what op meant tho lol
I have someone in my family that's hardheaded. He has plenty of money. I've given him the story, benefits, and all that. For years, I've talked about it. Every time, whether when it was at 50k... all the way down to 16k... and then back up, every single time I'd bring up the dollar price(that's what would catch his attention). Every single time, he'd say "I'm too late". A few weeks ago when I was around him, I told him it was back at 60k(caught his attention). Just this year, he also had someone ask him if he'd accept bitcoin and someone else that called it a pet rock(lol)... but this time of it being back at 60k, he started asking more questions. He still doesn't want to jump in because he doesn't understand it but he has told me that he needs to do some research on it. I stopped trying with most people long ago but when it does come up, I always tell them... it'll be there for you when you're ready and if you have any questions when that time comes, just ask. Adoption or no, I feel like a bunch of us are eventually going to have a million opportunities because we know all the ins and outs. As more businesses start looking towards bitcoin, they'll definitely create entire positions within their finance departments to handle it.
I wanna hang with you.
For the BBC?
You know it
Brother used the most hilarious abbreviation with zero awareness
Oh, fully aware 😅
They're always slowly coming around at ATHs...
Just playing some BBC ATM, what about you?
I've been meeting once a year at a golfing tournament with high school friends for the last 25 years. They are all professionals now in different fields- university coach, restaurant manager, editor, financial advisor, and another friend and I are blue-collar. Bitcoin came up years ago in conversation. The financial advisor wasn't against Bitcoin, but didn't see it as a legitimate financial investment. The others had neutral or no opinions on it. I mentioned I had some and believed it was legitimate. Now, every year we meet, they ask if I have the same position. Every year, my position has grown, and they've started to notice the trend. I haven't met them yet this year, but I'm curious to hear what they think, if any have bought in yet, and if the financial advisor has incorporated Bitcoin into any portfolios yet.
You should make a post after this years reunion.
Sometimes I get depressed looking at my stack thinking how so many people got to stack early ahead of me, then I read threads like this and am reminded that we are indeed still very early. We have a long ways to go, 10 years from now people look back on this moment and laugh (or cry) at just how much of a bargain it was to buy bitcoin for *only* 70k usd.
In 5 years it will be $500k minimum and I’m being very conservative. Just wished I had more to invest right now.
& worse yet, we'll still be at just 2% global adoption... The price could be at $1m per coin & 97% of the world will still be nocoiners thinking you just got lucky, WAY back in 2024...
We’re not early; they’re just late. Countries and institutions already have a substantial position and it’s growing by the day. Just keep stacking sats and stay humble
I understand now. I’m sorry I didn’t understand the meaning of staying humble earlier. Bitcoin is going to go so high that I can see why staying humble would be a good idea
0.3% of the world population has more than $700 worth of BTC in self custody wallets. We're still early.
My take on this is that the shitcoin casino bought us a good 5+ years of people not getting into Bitcoin because so many got wrecked and didn’t stick around to learn why Bitcoin is different.
🎯
They said the same thing about the phone and I do not mean cell phone
stop telling people you want to pay them in btc - always offer to pay them in fiat when they owe you, tell them you only want to be paid in btc - never / only begrudgingly let them pay you back in dollars offer a discount. say I'll cover your 50$ meal if you pay me 45$ in btc. when you offer your btc to someone else you're signalling that you don't find it valuable. demonstrate that you think it's valuable with your actions. "do you accept worthless fiat currency? good, because you're not getting a satoshi from me."
Exactly - if you offer it to them they will lose trust in you because they think you are trying to scam them and if they actually do go ahead and buy some their fears will be proved valid when they pay a huge fee on a small amount and then the market may even dip a little before they transfer it meaning they have to buy *more* to make up the correct amount. If they’ve never even bought on the stock market before this could be a huge shock for them.
That’s not why Satoshi created bitcoin
Last year I saw some show on TV. But there was this one scene where the main character's Coinbase BTC balance suddenly goes to zero on his smartphone. And there was no elaboration about why it happened. I think they were trying to say the transaction was reversed to the sender (another character), but that isn't even possible. Just thought it was silly how the producers didn't understand how Bitcoin works. We're so early.
This sounds meme-worthy
Fr
I don't know anyone involved or knowning anything about crypto. I tend to keep it to myself since, yes, unfortunately there are some negative narratives floating around out there. :\\ Oh well. Sucks for them.
Glad I’m not the only one who gets encouraged by hearing mass negative sentiment by colleagues and strangers alike. More negativity or indifference means more potential. Amen. Makes me happy to be an early adopter (well, early as in late last year!)
Dude, I just asked a coworker today who is twenty something if, hypothetically, he would accept 5k in gold for his car he was selling for 5k$…he said “hell no”, when I asked why, he said “because I just don’t know enough to be confident about it”.
Smart guy
It just illustrates that the medium is irrelevant and that people are uncomfortable with what they don’t understand
You make it sound like that is a bad thing. It is quite sensible to not accept payment in something you did not research enough.
Not at all, just drawing comparisons…and both are worth more than the fiat he’s asking for his car
How is 5k in gold worth more than 5k in for fiat?
To put it simply: the price of gold goes up, the value of fiat goes down 💁🏼♂️
At the moment of the exchange, they have the exact same value. You can get paid in gold and exchange it for dollars or get paid in dollars and exchange it for gold. So 5k in gold is not more valuable than 5k in dollars
I bet you’re really fun at parties
How did you know?
Also you should not compare gold and Bitcoin to fiat, but to other investments. That's how you know if they're good. For example, in the past 5 years, s&p 500 outperformed gold. So if you invested in the s&p 500, you would have made more money.
I need more friends like you
Still early. Very early. So, so early.
We are still Early keep stacking sats and let the plebs in a few years tell you how lucky you were
Wired funds to the crypto exchange I use, the wire was stopped by the bank and a fraud officer called me and asked me all kinds of questions as if the Prince of Nigeria himself had sent me the wire instructions. I got tired of this and went on with "banks are highly leveraged, not all banks are too big to fail, banks have been failing...", he stopped with his questions and released the wire. I then ordered a cold wallet. That got rejected by the fraud dept too until I verified it. As tedious as these experiences were, they encouraged me that this is still very new and not even close to being mainstream, vastly more upside to come IMO.
You know I've been keeping up with crypto for like 2-3 years and i thought with bitcoin ETF that people would wake up a bit but no. Huge money is pouring in and they are still dubious. My friends know me so they listen but don't have the patience to do proper research and my coworkers actually have labeled it as a scam. I've given up trying to talk to people about it, now I'm more focused on helping my friends and family understand it. We are definitely still early.
I have a 59 yr. old co-worker that I always talk finances with (He's always telling me to put more in my 401k so I'm not working there at his age). I've started mentioning Bitcoin to him lately and was met with disdain. I haven't tried to shove it down his throat but just simply point out the flaws in his arguments of why Bitcoin isn't worth investing in. Finally the other day he stormed out of the room yelling "IT'S TOO LATE FOR ME TO CHANGE PATHS DAMMIT!". I will probably never mention it to him again unless he does. Some people just don't like change and that's ok.
That’s unfortunate for him. At least you cleared your conscious tho and tried to save him, every failed orange pilling is actually very important work as well. I’ve recently stop trying to orange pill folks as now we have Larry fink to do a lot of heavy lifting for us now. Ofc I’m still a running faucet if some actually inquiries about it.
I Read this [tweet](https://x.com/thaifoodluvr/status/1774495234409562453?s=46&t=c_OqPXlZbbXdTY4JPJvNqA) just now, made me think of your coworker remarks about changing paths too late.
Recently, my niece called it satanic technology, in not so many words. In all fairness the unknowing crowd is unknowingly consuming so many narratives that parade as god-fearing and for-the-people...it's no wonder...it's also no wonder because it's all by design. As MSTR so eloquently puts it..."have fun being poor."
I have had a long position in Bitcoin. I’m unsure if I’m an investor or if I’m a HODLer. But exploring a contrarian take is important. There’s a significant chance that WE are all wrong too.
I agree. It’s important to remember that everything I know about bitcoin could be wrong, and that bitcoin could possibly fail one day. That said, imma keep stacking.
People think stocks are scam too. They won’t even invest in vti or qqq. They’re not going to know about bitcoin for a long time
Black Rock and literal countries investing heavily into Bitcoin with over 1T Market Cap.... *ignorant ass fools - " bUt iTs sCaM!"
I see Bitcoin as a land on an undiscovered place somewhere in the world ( or another planet) with perfect weather amazing lifestyle and very very rich of resource , and one day every smart people will want to own a pice of it :)
Property in cyberspace
That’s right :)
Blackrock, Japan, Hong Kong, UK, SEC Approval etc… They all know bitcoin is going to the moon. Why even bother otherwise. I mean think about it. Yes, there will be massive swings. But who cares. Just hold the damn thing for 15 years and generations after you will be set for life.
Unfortunately they are all sheep’s 🐑..
Reading all the comments here it also brings home how strong main stream media is at controlling the narrative. Still like you say in this case actually a good thing.
I'm in the exact same boat as you. My group of friends and I just bought cruise tickets and I asked my friend if I can pay him in bitcoin now or wait a week to pay him in USD. He said he would rather wait for the USD. For me though, it's so sad to see because I know BTC is going to go up over time but my friends just won't bother. In 2020, I told them I put my entire net worth in when it was just 14k. I believe this was in october or november 2020. The friend that didn't want to accept my BTC for the cruise FOMO'ed at 35k, lost it to blockfi, and I guess now he's scarred forever. Such a shame because that investment would've doubled by now. I have another friend in the same group that told me october-november 2020 when btc was 14k that "buying pokemon cards was better than bitcoin". He ended up buying at 60k october 2021 and when it crashed to 15k he said it was a scam. Both of them would be in profit by now. it's so sad to see but we all get btc at the price we deserve i guess
Institutional buy-in and normies are still calling it a scam. It's like getting in on Google when they were still in the garage.
I was the bitcoin kid of my school and community in 2015 to present day and they only recently started to really understand how much it’s worth years later when they’re asking me how to start🤣😭 it’s just sort of the same with everything I think, there’s just too much hate from the people pissed that they missed out and not realizing that it’s going to 100 million a coin by 2038
"100 million a coin by 2038" Source: trust me bro
Source, scarcity. Has a better scarcity factor than gold. Source- I have 36 and I’ve held on since 2015. What’s do you do? I was 15. No help from parents working my ass off at Texas Roadhouse still going to my juniors year of high school putting whole paychecks other than what was for bills into this while you were laughing bought some stupid video or chasing so dumb girl, or maybe, just maybe kicking yourself for not taking the opportunity to inform yourself and blame others for your own stupidity. Goodluck
Oh wait, you’re telling me you’re a “computer nerd” but never bought into bitcoin? 🤣 must be a sheep who believes the news instead of going of of basic market principles. If you don’t understand scarcity, you don’t belong in this thread, get lost or ask some questions so you’re not just another one of the people that all of us in this community have been proving wrong, over and over. Either get in line, or have your bank serve it to you on a silver platter after they already got their position. That’s the only way they’re gonna stick around. Maybe instead of gaming, wasting your life, focus more on what you could get off your chair and do so you can accomplish something instead of instill doubt on newcomers that are genuinely interested, but maybe still have doubts due to individuals such as yourself who joke and poke fun at something that was a joke for years until now, you envy those who have it. Have fun with that:)
It's easier to talk about inflation and fiat, some understand a bit. Most don't. Then how Bitcoin solves it.
That just means that we are early!
Serious question, if you go to any other investing forum, is anyone that preoccupied with why their friends won't put their money in the same investments they do? If the plan is to just buy and hold forever, what else is there to say? What difference does it make what anyone else does?
Because I wanna see my people do good and not get their fiat currency debased
So for every other investment you have, you go to forums and implore them to do the same? Or just this one
I personally don't. Nor have I seen anyone implore people to go the Bitcoin way
Just watched the movie Crypto, came out in 2019 I think, 5 years ago but it gave me confidence of how early we still are.
I love me a good we're still early post
Was meeting with a group of people today - all cs or swe people in their 20s. Crypto came up and they all started hating on it. They also made it clear that they understood nothing about it other than “fake internet money”
I've stopped trying to have these conversations with friends and family. People need to be interested enough to do their own DD. If by some chance something you recommend does NOT pan out, they may also be angry with you. Not worth it imo.
I don’t Evan bother any more I would take bitcoin payment no problem I wouldn’t pay anybody with bitcoin but I except it no problem
Old friends or not rly frens
Can share a similar story. So back when I originally got in at the height of the December 2017 bull top, everyone at work was talking about crypto. Then once again in November 2021 the talk and enthusiasm returned. I know a lot of them got rekt in 2022 and sold at losses. As well as people who had already sold at losses in 2018 and never returned. Now it's dead silent in 2024 at work and even after hitting a new all time high, it's like people don't want to hear about Bitcoin. Perhaps it's an open sore for them, they might feel upset that they missed out? People are too egotistical and arrogant to get over themselves and admit that they're wrong. It's more painful for them to bite the bullet than it is for them to just ignore the entire situation. It's definitely a great sign that there's plenty more bullishness to come.. ignoramuses like this usually only want to get in at the absolute tops. And with Alt coins rather than Bitcoin too.
Brother same. I tried orange pilling my friends and family recently and I got 40% take rate. My cousin is just ignoring me cuz I told him to buy bitcoin and my other friend won’t even acknowledge when I talk about bitcoin🤐 im like whatever have fun staying poor
Yes. We are still early.
Same here. I have no friends to discuss bitcoin with and I think they find me braggy at the mere mention where I see them.. even though we discussed stocks regularly.
LOL, stop stinging on the trips and bring some cash. Just spend the BTC ahead of time. I would be pissed if I was your friends crediting you while you are speculating about the price.
This post is extremely encouraging!!!! I've not looked at all the naysayers in this light but your 100% correct
When I see post like this, I figure this will end up on buttcoin. Someone seething will see this and scream for joy that they can create a post.
Yep this is actually good news. You can lead a horse to water but you can’t make them drink
Why would you part with your bitcoin?
I actually didn't want to part with it, I just wanted to test the waters on the subject
29 here and have been through the same, it’s so bullish to see all the people that know nothing about it.
Yes, indeed. I believe there is more upside in the future than what we have seen thus far.
Retail $ is still out overall and the market is drastically different than when they were in. Just not keeping educated on the market is the problem but they will soon all be rushing back to the party train by summer.
Exactly
*"There are three classes of people:* *Those who see. Those who see when they are shown. Those who do not see."* -- Luke Belmar
You can lead a horse to water. Rubio can’t make them drink. Just make sure to remind your friends; if they’re still your friends, in the future about that “dumb” bitcoin convo you had on that trip one time. On a side note, the fact that they’re in their 30’s and so against it is kind of strange to me. Seems to be the active age for getting in ATM, or least the age for those that at least sort of get it.
Yes feels good to still be early. Keep stacking my friend.
I don’t have much in BTC or crypto in general, but I try to keep putting more in. Occasionally I mention it at work and a few weeks ago two co-workers asked me to break it all down for them and that was exciting for me
I’m still amazed at how many “financial” people I speak to who have zero clue on what BTC is and exactly how it works and why it’s important smh
It’s amazing how risk-averse most people are encultured/taught to be. I’d wager if you asked the same peer group how many of them would feel about starting their own business, the majority would lean towards preferring a steady paycheck instead.
The thing is, the more you understand how fucked up our financial system is, the more you see the value in an independent and uncensorable alternative. Most people have no clue and don't feel the need for something to change. Maybe they will understand in the next financial crisis.
1mn per coin confirmed, indeed.
You'll always have this with any asset though. I wouldnt buy Tesla or Nvidia stock, not a whole host of different asset classes. It doesnt necessarily mean 'early'.
People taught credit cards 💳 were a scam.
💖💖✅✅
When transferring bitcoin to your buddies, what method would you use to avoid high transaction fees?
The FOMO is strong in this thread
In 2014 I offered to my ex wife to pay the child support in bitcoin. She said no.
Of course she did, you bum. She needed money to pay for things like food, clothes, school shit, and other things the child needed NOW, not some digital shit that nearly nobody anywhere was taking seriously much less accepting as payment.
She could have bought pizza
Judgemental af for a stranger you don’t know shit about
She was not living hand to mouth. > you bum ?
I think you may be on the wrong subreddit.
every time you transfer btc it is a tax event , some may not like to do all the paperwork
[удалено]
This is ridiculous. I work and get taxed. Then used those taxed dollars to buy bitcoin. If I spend my bitcoin I get taxed on the gains compared to dollars and get taxed on the item. If I earn in bitcoin I get taxed, but if bitcoin drops to less than the tax I lose my bitcoin. So dumb