Avatar for Jimmy Song
Jimmy Song
I'll note that Poloniex delisted some PoS coins
5

new message(s)
Avatar for David Orban
David Orban
But I remember when we were discussing if digital television should have rectangular it square pixels. And streaming UHD in millions of homes via Netflix would have been unimaginable
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4

new message(s)
Avatar for Jimmy Song
Jimmy Song
There's regulatory risk there. But also a credibility issue. They've been talking PoS switch for years and never met their deadlines
16

new message(s)
Avatar for David Orban
David Orban
We may need a deeper overhaul of TCP/IP and DNS to fully realize what we imagine an ideal decentralized architecture should be.
9

new message(s)
Avatar for Jimmy Song
Jimmy Song
It's one thing to be surprised by innovation in an industry that's delivered a lot of value (internet). It's another to assert that surprise hits will happen in an industry that's got such a poor track record of delivery
29

new message(s)
Avatar for Jimmy Song
Jimmy Song
I see too many people smoking hopium. Happy to short this turd all the way down.
2

new message(s)
Avatar for David Orban
David Orban
When IP4 hoarding forced NAT, it was the death knell of P2P, even if we cheered how smart Skype's NAT traversal was
4

new message(s)
Avatar for David Orban
David Orban
Obviously just because I've wants innovation to be true it doesn't automatically become true.
9

new message(s)
Avatar for David Orban
David Orban
Do you see any use for Bitcoin beyond payments?
3
2

new message(s)
Avatar for Jimmy Song
Jimmy Song
Store of value is the main use case right now
9

new message(s)
Avatar for David Orban
David Orban
In five years?
5

new message(s)
Avatar for Jimmy Song
Jimmy Song
Whether it becomes a big method of payment is not necessary for it's success as store of value
5

new message(s)
Avatar for Jimmy Song
Jimmy Song
I'm confused by people that think that's too limited a use case
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new message(s)
Avatar for Max Hirshik
Max Hirshik
Jimmy on this topic there’s something that has always bugged me a bit since 2017.
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1

new message(s)
Avatar for Jimmy Song
Jimmy Song
We have almost no good stores of value
10

new message(s)
Avatar for Jimmy Song
Jimmy Song
That's a huge win for civilization
4

new message(s)
Avatar for David Orban
David Orban
> too limited Not for sure! A TAM of a few trillion dollars is nice enough
9

new message(s)
Avatar for Jimmy Song
Jimmy Song
More than that

new message(s)
Avatar for Max Hirshik
Max Hirshik
Has the most ardent of the BTC community always maintained that payments not important

new message(s)
Avatar for Jimmy Song
Jimmy Song
Real estate is used as a proxy as are stocks

new message(s)
Avatar for Max Hirshik
Max Hirshik
Or just after an abrasive character forked BTC and said BTC isn’t good for payments
1

new message(s)
Avatar for Jimmy Song
Jimmy Song
Even art and collectibles are used
1

new message(s)
Avatar for Max Hirshik
Max Hirshik
It seems like I didn’t here the payments aren’t important only SOV is important after Roger started his antics
4

new message(s)
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Max Hirshik
Hear*

new message(s)
Avatar for Jimmy Song
Jimmy Song
Store of value is naturally where money goes when not inflating
1

new message(s)
Avatar for David Orban
David Orban
> Real estate is used as a proxy So do you expect that BTC will deflate real estate values?
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1

new message(s)
Avatar for Max Hirshik
Max Hirshik
So is this take reactionary to BCH? Or has it been long maintained?
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7

new message(s)
Avatar for Jimmy Song
Jimmy Song
Eventually, yes
1

new message(s)
Avatar for Jimmy Song
Jimmy Song
Max, why do people buy BTC? To buy something or to store value?
1

new message(s)
Avatar for Max Hirshik
Max Hirshik
I’m not disagreeing

new message(s)
Avatar for Jimmy Song
Jimmy Song
Other than dark web shoppers, I don't know anyone that buys BTC to buy somehting
20

new message(s)
Avatar for Max Hirshik
Max Hirshik
I’m just saying was this perspective popular within the BTC community before 2017
9

new message(s)
Avatar for Max Hirshik
Max Hirshik
Or is it reactionary.
6

new message(s)
Avatar for Jimmy Song
Jimmy Song
It was popular in the same way that any BTC news is popular in the community
1

new message(s)
Avatar for Jimmy Song
Jimmy Song
It was seen as merchants wanting to store value
18

new message(s)
Avatar for Jimmy Song
Jimmy Song
Not as "I can buy crap from overstock"
3
13

new message(s)
Avatar for Jimmy Song
Jimmy Song
Turns out merchants don't want to store value
6
1

new message(s)
Avatar for Jimmy Song
Jimmy Song
In BTC
1

new message(s)
Avatar for David Orban
David Orban
I always maintained that Bitcoin's deflationary power contributes to sustainable practices and better decision making https://www.facebook.com/groups/internetofmoney/permalink/607711329284680?sfns=mo

new message(s)
Avatar for Jimmy Song
Jimmy Song
Payments use case is something Reddit posters overvalued
12
7

new message(s)
Avatar for Jimmy Song
Jimmy Song
And naturally if they spent, they lost Bitcoin and started regretting more
4

new message(s)
Avatar for Max Hirshik
Max Hirshik
Reddit posters or all of the BTC community before 2017?
6

new message(s)
Avatar for Jimmy Song
Jimmy Song
I still hate that I spent BTC on beef jerky in 2013
23
3
1

new message(s)
Avatar for Max Hirshik
Max Hirshik
Lol ^

new message(s)
Avatar for Jimmy Song
Jimmy Song
Anyway, it may have been something some people wanted more than store of value. But if so, they're gone now
9

new message(s)
Avatar for Max Hirshik
Max Hirshik
My main point is, I think it’s a pretty nuanced topic and it irks me to see BTC’ers pretend like it wasn’t at least for a time considered a practical application
21

new message(s)
Avatar for Max Hirshik
Max Hirshik
I don’t want the BTC to make any reactionary decisions in response to a Roger type character. That’s my concern. :)
14

new message(s)
Avatar for Max Hirshik
Max Hirshik
BTC community *
8

new message(s)
Avatar for Jimmy Song
Jimmy Song
It's the other way around in my view
13

new message(s)
Avatar for Jimmy Song
Jimmy Song
His emphasis on payments caused the rift

new message(s)
Avatar for Jimmy Song
Jimmy Song
The emphasis on method of payment came from people that left
10

new message(s)
Avatar for Jimmy Song
Jimmy Song
And BTC doesn't change very often and when it does, it's slow
10

new message(s)
Avatar for Jimmy Song
Jimmy Song
That's a feature, not a bug
6

new message(s)
Avatar for Jimmy Song
Jimmy Song
BTC can't be reactionary in any reasonable way
3

new message(s)
Avatar for Max Hirshik
Max Hirshik
That’s a good way to put it. I guess from your view the reactionary move would have been to increase blocksize.

new message(s)
Avatar for Jimmy Song
Jimmy Song
Geez, we increased the block size with Segwit
10

new message(s)
Avatar for Jimmy Song
Jimmy Song
How many times do we have to repeat that?
5
8

new message(s)
Avatar for Jimmy Song
Jimmy Song
The argument was always about the safety of a contentious hard fork
8

new message(s)
Avatar for Jimmy Song
Jimmy Song
And who got to say what would go in
14

new message(s)
Avatar for Jimmy Song
Jimmy Song
It was always about control
21

new message(s)
Avatar for Jimmy Song
Jimmy Song
And giving it to businesses would have been terrible
13

new message(s)
Avatar for Max Hirshik
Max Hirshik
Makes sense to me
9

new message(s)
Avatar for Jimmy Song
Jimmy Song
That's what we're running away from, the corporation-government partnership to manipulate us like sheep
77
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6
May 17

new message(s)
Avatar for Question from Heather
Question from Heather
What do you think this news is? I'd love to see John texting with you guys! https://twitter.com/officialmcafee/status/1129068785762283521
1
1

new message(s)
Avatar for David Orban
David Orban
Here's a chat I had with John a few months ago https://youtu.be/ZLS1Npafngw
6

new message(s)
Avatar for Max Hirshik
Max Hirshik
He was bragging on the Internet that he hasn’t filed a tax return in 8 years so could be in some trouble there, hope it’s not health related! Would love for John to be here, what a character.
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1

new message(s)
Avatar for Jimmy Song
Jimmy Song
I'm not sure how John McAfee's troubles relate to Bitcoin. Honesly, I'd rather not be here if we're going to be talking about celebrity gossip.
3
3
4

new message(s)
Avatar for David Orban
David Orban
Agree... We will have to tell Heather to reduct herself to Bitcoin only.
9
2

new message(s)
Avatar for David Orban
David Orban
What would you like to chat about Bitcoin today? 🙃
6
11

new message(s)
Avatar for Jimmy Song
Jimmy Song
If you have questions about Bitcoin or ideas around it, that's worth discussing. If you want an explanation about events that have happened, I'll attempt to do so, though it's mostly going to be speculation. Talking about people, I have no patience for.
26

new message(s)
Avatar for Jimmy Song
Jimmy Song
Re: what to discuss, I'd really like a postmortem of 2x
14

new message(s)
Avatar for Jimmy Song
Jimmy Song
Especially Vinny's take
4

new message(s)
Avatar for David Orban
David Orban
What's your view of it?
13
4

new message(s)
Avatar for Jimmy Song
Jimmy Song
Corporate takeover attempt of a decentralized system that failed
16

new message(s)
Avatar for David Orban
David Orban
It'd be great if Vinny participated too, but in his absence...
6

new message(s)
Avatar for Jimmy Song
Jimmy Song
Unprecedented in many ways
4

new message(s)
Avatar for Jimmy Song
Jimmy Song
Can we invite people?
5
3

new message(s)
Avatar for David Orban
David Orban
You mean the takeover failed, not the decentralized system right?
17

new message(s)
Avatar for Jimmy Song
Jimmy Song
Yes
7

new message(s)
Avatar for David Orban
David Orban
Vinny Lingham is in this chat technically. He just never spoke up.
1

new message(s)
Avatar for Jimmy Song
Jimmy Song
The chat needs more people
3

new message(s)
Avatar for David Orban
David Orban
Do you think that corporations will take notice and consider the learnings?

new message(s)
Avatar for David Orban
David Orban
Or it will just serve to refund their efforts?

new message(s)
Avatar for Jimmy Song
Jimmy Song
They're still bitter from what I can tell
9
1

new message(s)
Avatar for David Orban
David Orban
*redouble

new message(s)
Avatar for Jimmy Song
Jimmy Song
Some have come around, like Xapo
15

new message(s)
Avatar for Jimmy Song
Jimmy Song
Others seem to have focused on other coins
21

new message(s)
Avatar for Jimmy Song
Jimmy Song
I should go to Satoshi Round table next year just to have that discussion
20

new message(s)
Avatar for Jimmy Song
Jimmy Song
Because it's still a major issue
8

new message(s)
Avatar for Jimmy Song
Jimmy Song
And we haven't really resolved things emotionally. Financially, we know Bitcoin won, but there are a lot of bad feelings all around
9
1

new message(s)
Avatar for Max Hirshik
Max Hirshik
Vinny is hopping in a few days and they are adding some more folks as well I believe
23
May 19

new message(s)
Avatar for David Orban
David Orban
I'll be pretty tied up with the Malta AI & Blockchain Summit in the next few days but will try to chime in.
12

new message(s)
Avatar for David Orban
David Orban
Here's an interview that came out today in The Times of Malta.
13

new message(s)
Avatar for David Orban
David Orban
Goodtalk message
25

new message(s)
May 24

new message(s)
Avatar for Question from Sanders
Question from Sanders
Thoughts On paying staff with bitcoin?
11
3

new message(s)
Avatar for David Orban
David Orban
Love it and doing it
19

new message(s)
Avatar for David Orban
David Orban
(or ETH too)
14

new message(s)
Avatar for Max Hirshik
Max Hirshik
I think it’s ok as long as it’s opt in and employees are properly aware of risks in keeping too much % of their net worth in one (volatile) asset.
7

new message(s)
Avatar for Jimmy Song
Jimmy Song
There are services like Bitwage that will do this for you.
15
June 03

new message(s)
Avatar for Question from Willis R.
Question from Willis R.
What do you all think of Andy Cheung predicting that Bitcoin hits $20,000 in 2019?
6
11

new message(s)
Avatar for David Orban
David Orban
I do believe that an all time high will be reached. But I'd be surprised if it is so soon. More likely during 2020.
11

new message(s)
Avatar for Max Hirshik
Max Hirshik
He went as far as to say that’s a conservative estimate for 2019, for which I disagree. It’s so hard to know on short time frames where price will go but I’m bullish on it getting back to ATH within next 2-3 years and wouldn’t be surprised if sooner.
11

new message(s)
Avatar for Max Hirshik
Max Hirshik
In general it’s always a good maxim to be cautious (read don’t trust) with “expert analysts” who speak in absolutes.
13
1

new message(s)
Avatar for Max Hirshik
Max Hirshik
There’s so much variance in financial markets to begin with, add innovative technology and world governments to the equation and you have very unpredictable cycles.
21

new message(s)
Avatar for Max Hirshik
Max Hirshik
Technical Analysis for this space is 99% utter BS, and I’m of the opinion that it only really makes sense to invest on a long time horizon for BTC.
4

new message(s)
Avatar for Jimmy Song
Jimmy Song
The only thing that's made sense to me is planB's analysis of stock/flow to market cap. That model predicts a fair price around $50k around may of next year.
13
2

new message(s)
Avatar for Jimmy Song
Jimmy Song
That's of course when the next halving is happening
17

new message(s)
Avatar for Jimmy Song
Jimmy Song
It's possible we get to $50k before then, but the last two halvings preceded the.price rise by 6-18 months
17

new message(s)
Avatar for Jimmy Song
Jimmy Song
So it's not a stretch to say $50k in the next 2-3 years, we just don't know when
22

new message(s)
Avatar for Max Hirshik
Max Hirshik
While it’s possible we get to 50k by next May it is not probable in the slightest.
28
6

new message(s)
Avatar for Jimmy Song
Jimmy Song
Max, how low would you put that probability?
4

new message(s)
Avatar for Max Hirshik
Max Hirshik
I’m open for bets at even odds 😉
1
4

new message(s)
Avatar for Max Hirshik
Max Hirshik
But probably around 10ish %
7

new message(s)
Avatar for Jimmy Song
Jimmy Song
I'd definitely take 10 to 1 odds. My gut feeling is that $50k is within reason by May.

new message(s)
Avatar for Max Hirshik
Max Hirshik
I think it is definitely within reason, it’s just not likely.
1

new message(s)
Avatar for Jimmy Song
Jimmy Song
10 to 1 is a fair bet according to your probability
5

new message(s)
Avatar for Jimmy Song
Jimmy Song
I'd take those odds, are you?
5
2

new message(s)
Avatar for Max Hirshik
Max Hirshik
What do you think the % is?

new message(s)
Avatar for Jimmy Song
Jimmy Song
Higher than 19%

new message(s)
Avatar for Jimmy Song
Jimmy Song
10%

new message(s)
Avatar for Jimmy Song
Jimmy Song
Mistyped
5

new message(s)
Avatar for Max Hirshik
Max Hirshik
I’m down to go around 4-1 and work details offline if you’d like

new message(s)
Avatar for Jimmy Song
Jimmy Song
You said 10%

new message(s)
Avatar for Max Hirshik
Max Hirshik
And you said it’s probably going to happen

new message(s)
Avatar for Max Hirshik
Max Hirshik
Or your gut

new message(s)
Avatar for Max Hirshik
Max Hirshik
Is telling you it will

new message(s)
Avatar for Jimmy Song
Jimmy Song
I didn't say it was probable. Where did I say that?

new message(s)
Avatar for Jimmy Song
Jimmy Song
I said it's probable within 2 years

new message(s)
Avatar for Jimmy Song
Jimmy Song
Not by next May

new message(s)
Avatar for Jimmy Song
Jimmy Song
I'll take 4 to 1 if it's June 2021
6

new message(s)
Avatar for Max Hirshik
Max Hirshik
Even odds 50k in 2 years? I’m down.
6

new message(s)
Avatar for Jimmy Song
Jimmy Song
Your assessment was 10% for next year

new message(s)
Avatar for Jimmy Song
Jimmy Song
That's what I want to bet on

new message(s)
Avatar for Jimmy Song
Jimmy Song
If you want to bet for 2 years give me 4 to 1
1
5

new message(s)
Avatar for Jimmy Song
Jimmy Song
That's roughly in between

new message(s)
Avatar for Max Hirshik
Max Hirshik
Let me think about odds for 2 years. I’m down to get a bet in on it 👍
6
2
June 26

new message(s)
Avatar for Question from Ben Trenda
Question from Ben Trenda
Does a potential 600% gain in BTC (to 50k usd) encourage the type of speculation that might lessen it's reliability as a store of value?
7
3

new message(s)
Avatar for Jimmy Song
Jimmy Song
Does a potential large gain in real estate diminish it's reliability as a store of value? How about stocks or even gold?
6
1

new message(s)
Avatar for Jimmy Song
Jimmy Song
The only reason volatility is an issue is because our unit of account is fiat money
1
8

new message(s)
Avatar for Question from John Good
Question from John Good
What’s your take on Facebook entering the token space?
7
4

new message(s)
Avatar for Jimmy Song
Jimmy Song
I'm not sure it even launches

new message(s)
Avatar for Jimmy Song
Jimmy Song
If it does launch, it will provide a nice onramp for people to get btc
5

new message(s)
Avatar for Jimmy Song
Jimmy Song
If it doesn't it will show why a censorship resistant money is useful
11

new message(s)
Avatar for Jimmy Song
Jimmy Song
Either way good for Bitcoin.
9
3
June 27

new message(s)
Avatar for Question from Willis R.
Question from Willis R.
Is GBTC a good way to invest in BTC?

new message(s)
Avatar for Jimmy Song
Jimmy Song
GBTC is better than not investing in BTC at all, but it's not as good as investing in Bitcoin directly. gBTC has a 2% annual fee as well as a large premium over BTC spot price that make it worse as a vehicle for investment than BTC. You also risk some sort of hack or theft since you are not holding those coins.
10

new message(s)
Avatar for Jimmy Song
Jimmy Song
That said if you don't mind the 2% degradation per year and the premium which has historically been as high as 80%, it's a way to dip your toes in the water.
4

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  • Avatar for Jimmy Song
    Bitcoin Educator, Developer and Entrepreneur
  • Avatar for Vinny Lingham
    CEO @CivicKey ($CVC), building global blockchain ID platform. General Partner @multicoincap/@newtownpartners E...
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    Co-Founder CEO at Lupex
  • Avatar for David Orban
    Blockchain and Startup Investor / Advisor & Faculty, Singularity University
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