LynAlden on nostr

Open in Damus

@LynAlden 1698605607

A guy sends me a polite email, and says in a couple paragraphs that 1) he doesn't really see any role for bitcoin in a portfolio, it has no intrinsic value, and it just trades on sentiment and also that 2) it threatens USD hegemony and so politicians are likely going to add friction to it.

So I'm like, well, if there's nothing particularly valuable about it to give it any value or consideration for a portfolio, why does it threaten USD hegemony? Like, it threatens the largest and most globally salable monetary network in the world while having no intrinsic value, no portfolio role, while just being a thing that trades on sentiment?

¯\_(ツ)_/¯

3140❤️106🤙116😂4🚀4💜1🔥1

mutatrum · 121w

Literally this. https://image.nostr.build/77ebe9d857b45136b68690d13fa89b11d8638b0d1440e125690652edae66f2f9.jpg

Bitcoin Dad · 121w

Bitcoin has no value! But also we should ban/regulate/etc because some people value it!

Bitkorns · 121w

"I don't want to wake up, I just want a softer pillow."

cloud fodder · 121w

Very good point. And apparently the only ammo they have left is, it threatens them because muh laundry. (meanwhile banks and gift cards do much worse).

Was it Peter Schiff?

Phillip Leslie · 121w

"The food here is terrible. And such small portions!"

Therefore sentiment undermines USD. Which… actually does make sense, no? He probably didn’t connect those dots though.

bitcarnicoin · 121w

Has he tried $HFSP

TNStacker · 121w

The dissonance is too much for his brain.

nostrich · 121w

My mood for people with this mindset is now “If you don’t believe it or don’t get it, I don’t have the time to try to convince you, sorry.” If somebody legitimately wants to understand I’ll still take the time though.

CitizenPleb · 121w

Stop opening emails from Peter Schiff. I’d also say stop opening emails from Paul Krugman, but we all know he doesn’t know how to use a computer.

Bitcoin doesn’t need him. You get the price you deserve. Literally Satoshi said the perfect response at a time when “selling the idea” was warranted. If you don’t understand it, fuck you (paraphrased).

Z2theach · 121w

Quality logic 😂

Bitcoin Fortress · 121w

https://image.nostr.build/31d6867294f12e05508244dd306f6b02a2de36416a464bfcc10c594205979c8d.jpg

“Value is not intrinsic, it is not in things. It is within us; it is the way in which man reacts to the conditions of his environment. Neither is value in words and doctrines, it is reflected in human conduct. It is not what a man or groups of men say about value that counts, but how they act.”...

nostrich · 121w

Not really surprised. He said he traded on sentiment. That's a big mistake for him and it will be very hard for him to really see the clear picture of what #bitcoin stands for with his mix feelings about this wonderful digital asset.

captjack 🏴‍☠️✨💜 · 121w

😆 nice story - fact is -- "nothing intrinsic" about anything - all "perceived value" at certain point in time who u r where u will SPEND it finally

Cristina · 121w

Answer should be something like: No intrinsic value Go back to start and don't earn sats. Try again. Trades only on sentiment Yes you're right, that's why it is still so damn cheap. Wait a month untill Blackrock opend the black hole for the Fiat system. Threatens USD hegemony Yes, polititions in ...

brucegutkin · 121w

“The SOM is tiny, even though the TAM is massive, so I’ll sit this one out”

MTCᵍᵐ · 121w

Dear fren, HFSP. Regards, Lyn

mr eugenides · 121w

Weird logic, but it’s always nice to hear from Jamie Dimon…

Richard Casey · 121w

Bitcoin is backed by mathematical logic and a globaly decentralized protocol.

Kiran Kaur · 120w

Physics to a cat. Either you study and know or you repeat others.