Going To Zero? You've Got To Be Fckn Kidding Me

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I was struggling to think about what to rant about today, and then I stumbled upon this gem posted to Twitter:

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Let me just start by saying, this guy is not noteworthy. What I can't believe is that people are still attempting to chase clout in this way.

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Of course, people aren't clamoring to take him up on his offer, since neither himself or his organization are of any repute. For example, he has 172 followers and his organization has 6. This is not to disparage someone based upon their social media profile, but to point out he seems to be trying to chase clout. The problem is, that is doing so based upon talking points from a half-decade ago. Trust me, if any Bitcoin podcaster of note thought this guy was worth having on their podcast, he would shrink like a violet.

But honestly, how myopic can one be to try and promulgate these views in 2022. Considering in the last 5 years we've had:

  1. Bitcoin adopted as legal tender
  2. Bitcoin ETFs and Trusts
  3. Bitcoin on Corporate Balance Sheets
  4. US Politicians Endorsing Bitcoin
  5. More regulatory clarity.

I could go on and on.

Even Bitcoin perma-bears like Peter Schiff had adjusted their rhetoric to match reality. It's just shocking to still run into commentary like this in 2022, especially from someone who works in the financial markets. But like Peter Schiff who peddles precious metals and sees hard money as a zero-sum game, this guy has his own products to peddle.

His messaging will not age well. Anyhow, I'd like to thank this knucklehead for being my muse for today! How do I know it will not go to zero? Because once it goes down to 0.001 USD, I will buy it all myself. Go to zero indeed, we should be passed this sort of hyperbole in 2022. We are still early.

Posted Using LeoFinance Beta



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17 comments
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Btc etf's are bad for btc, imo.
It allows for naked shorting.

'Sure, sure, we got all the btc we are supposed to have in the etf, here are papers from people we paid to agree with our statement.'

The newbs coming in have no idea that without the keys they have no coins.
They just follow along doing things like things have always been done.

I see btc not dominating at some point, but zero, I doubt it.
Not in our lifetimes.
Absent a hack of a wallet, or something similar.

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Great comments!

There are downsides to the ETFs, but I feel they are at least slightly a net positive. Besides locking up a lot of Bitcoin, I think they help strengthen the regulatory moat.

The zero argument is pure ignorance. Even a catastrophic technical failure would result in a hardfork, and people would still place value on that fork. I guess you could argue the original chain would be worth zero in that case, but that's a pretty thin argument.

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At some point we stop being regulatable, at that point the criminals will get run out on rails, because there will be nobody to protect them further.

Look at silver.
JPM paid a 920m usd fine specifically for rigging the market, yet never stopped rigging the market.
It's rigging the market today, just through customer accounts now.

Everybody is looking for the gov't to do something, but they won't do anything that interferes with the gravy train they have.
It's up to us, the people, to do something, and we aren't there, yet.
Too many people still buy the illusions.

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He's basically a nobody but he did manage to get our attention and who knows with such a lousy statement he'd probably lose 50% of his current following. Then again, he probably doesn't have that view and maybe just needed the attention for something bigger. I mean now you know he has an organisation so his plan probably worked well enough.

Posted Using LeoFinance Beta

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He doesn't have many followers to begin with, and I doubt he will be earning any more.

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He is nobody so he is not worth worrying about. He got to be kidding me

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I've got some satoshis, I ain't selling them for anything near zero. Also I'd probably expect at least a few million people to pay at least 10000$ a bitcoin if it could even get that low.

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Agreed, there will always be buyers of last resort to step in.

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