Felix

[D-train]

Long term, I'm confident that bitcoin will hit $100,000 before the Mariners win a World Series...

Almost anything is possible before the Mariners win a WS. The Second Coming. The earth is invaded by aliens... I'll need a better time frame than that.

The Earth will explode before the Ms win the WS.

That's only 11 years away according to Greta and AOC.

[Happy as hell]

This is for bpj. No one else gives a rat’s ass.

To support your fantasy that btc will rise to $100k, you argue that btc will be able to disrupt the bank/credit card monopoly and reap the profit. I have doubts about both.

First, consider how the bank/credit card monopoly works. They charge sellers hefty fees and offer credit and points to buyers to use their cards. The sellers pass on these costs to buyers, all buyers, in the form of higher prices. Suppose I buy with my bitcoin, which you claim is a costless transaction (even though it isn’t.) How do I gain? I pay the same prices as credit card users without credit or points. How can you disrupt that with btc?

Second, even if this cozy arrangement can be disrupted, how do the owners of btc monetize the profits released? If it happens, the freed-up profits will go to the consumers in the form of lower prices for using btc, not to people investing in btc. The gains are not proprietary. Where is the profit that can be appropriated by btc owners that will drive it to $100k?

Now blockchain is another thing. Some blockchain apps have the potential for proprietary profit. I have some modest investment in companies which I think can produce proprietary profit from blockchain.

PS The profit sequestered by the bank/credit card monopoly is humongous. If you can give me a reasonable argument how btc can disrupt and appropriate this profit to the benefit of btc investors, I would be interested.

[bpj]

Where did I claim bitcoin is a costless transaction?

There are cryptocurrencies that are built around being free or very close to, but where did I claim bitcoin was a costless transaction?

I think you're looking at this from the view of a credit card consumer. Consider it instead from the viewpoint of the seller and the cost conscious consumer. Lower costs, lower prices.

What I did say was that people will use Bitcoin as their savings account (because it is a set supply, not set up like fiat currency to devalue with printing more. This is the point you were asking for. The bitcoin benefit is because it is a limited supply, it isn't being devalued daily by more dollars being created. There is a known quantity, it is exactly what sets bitcoin apart from the current system and will be the driving force on price. Supply and demand. More people needing some of a set supply.) and convert small amounts to another fee-free crypto for daily use like a checking account/debit card. Free trading can already be done on Coinbase Pro.

Say, you hold $200,000 in your savings (bitcoin), and convert a small amount to the every day (no fee) spending currency.

You already answered your other question.

Credit card companies charge sellers monthly fees, plus they charge 2.5% of the transaction, minimum, which are passed on to the buyer as you point out.

Whatever cryptocurrency wins out for day-to-day spending- say Ripple or Digibyte or Litecoin- the fee per transaction will be less than 1 penny, if not free as in the case of digibyte.

A $100 sale for which a retailer used to be debited $2.50 (2.5%) of the transaction plus fees, netting them ~$96.

Consider Digibyte with no cost transactions, the retailer would keep all $100. In theory, he decides to lower his cost to $98 so the customer saves $2 and he still makes an extra $2.

Now, consider a decent sized business taking $100,000 in credit card payments per month. Fees equaling $3,000+ compared to a fee-free person to person cryptocurrency, where they would keep all $100,000 and could discount their price for their customer and still bring in more for the bottom line.

The numbers are not inconsequential. At this point adoption is a matter of when, not if.

Think of it as PayPal without the Paypal.

As I said in a previous post, think of one use case as a replacement for Western Union. It won't be $15 to send $200 to family in another state. It will cost a penny and it's to the other account in seconds without a middleman.

[Happy as hell]

I have no idea why anyone would pay $15 to Western Union to send $200 to their family in another state when they can send it free by FB, Venmo or any of a dozen money sending apps. I figure it must be immigrant workers w/o a phone or email. No money to be made there, dude.

Since, clearly, you have no idea how btc can disrupt the profitable bank/credit card monopoly, I have my answer.

[bpj]

I think we believe in two different futures for our banks and economy.

I dont believe everything is "fine" right now, and I dont think this loose credit for consumers will last.

The government is continuing to print billions as we speak to continue bailing out these banks from 2008. It will come to an end at some point, likely beginning with a large non-US bank, like Deutsche Bank.

[DanielVogelbach]

Well, the price will have to be much more stable before it can replace current clearing and settlement institutions. How can you conduct everyday commerce with a medium whose value can fluctuate 20% in days or weeks?

This doesn't matter at all. If your unit of account is USD, then you can always immediately exchange your crypto to USD. I could sell a car for 3 BTC and then just immediately transfer the crypto to fiat.

As adoption increases, though, volatility will decrease. As volatility decreases, bitcoin could potentially become the unit of account.

[DanielVogelbach]

Have never been a fan of Felix. As soon as he got good he started acting like a little bitch, culminating with dying his hair like a qtip, all the while cocking his hat like a ghetto rat. "Maybe it's to block out the lights!" somebody on the forum once said. No, it was because he's a dumbass like Fernando Rodney, with a fat stupid cherub face.

And then you nancy SJW's tried claiming i was racist for calling him a ghetto rat! LOL. Liberals.

And his dumbass deserves every bit of what he's getting for being too stupid to try and improve the mental aspect of his approach to hitters years ago when his decline became obvious to everyone but him.

The only redeeming quality Felix had was loyalty to the Mariners which again just shows how stupid he is.

I was always a HUGE fan of cocking the hat to the side. That's called swag! Felix had it, and the fans loved it!

[bpj]

Some did, some didn't.

Griffey had swag too, but during the game, he respected it...

[DanielVogelbach]

Some did, some didn't.

Griffey had swag too, but during the game, he respected it...

Are we still talking about hat brim angle? Or, are we talking about the time Griffey fell asleep in the Mariners clubhouse.

[bpj]

Yeah, given what we eventually got out of them, I would have rather watched Craig Biggio than Ichiro or Felix (and I dont even care for Craig Biggio, but at least he didnt take up a power position or 20% of the rotation for 4 or 5 bad years.

Griffey I never had a problem with, other than wanting to bail for Cincinnati. That was BS, but whatever.

Like if Michael Jordan had left the Bulls to play for another team because he'd rather be somewhere else. It was a slap in the face to M's fans imo.