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"could" etc. Plenty of hedge words. They always build in wiggle room because they don't know. No one does. Just people who have been watching for a long time know that the trend has been up and with the halving coming if previous years have been any indication, more upside seems likely. It really just depends on whether enough people are paying attention and getting sick of inflation eating away the value of their fiat.
It amazes me that places like Argentina don't have a huge presence in bitcoin. It isn't as if bitcoin's value as an inflation hedge is hidden.
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He is right about bitcoin transcending the dollar or any other fiat currency. Good money replaces bad money because enough people know that in the long term, fiat loses value due to inflation. People will dump the money that is worse and replace it with something better. While many people don't understand it or don't care, enough people are clueing in.
Not to mention the other uses for bitcoin.
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I do not know if you saw this thread on the forum about the comments that the SEC did on the application of the BlackRock Bitcoin ETF? https://bitcointalk.org/index.php?topic=5458216.msg62491996#msg62491996The SEC are playing games with one of the largest financial organizations in the US, by saying that their application are "inadequate"  I think the SEC are stalling a decision on this, because the politicians have other agendas.  I agree. The SEC is having strings pulled from above. Eventually it will become apparent to everyone what is going on - or they will be forced to approve it or state specifically why in court. This is a perfect example of the problems with the entire concept where Congress makes a general law and then has faceless bureaucrats make rules and enforce it. There is no accountability and it lets politicians blame someone else. It also results in so many laws that no one anywhere knows what they all are. |
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from the perspective of a highly "westernized" finance infested economy, I understand your position
but that represents only one portion of the world, and it's shrinking in influence and dominance
the rest of the world is still made up of alot of small independent businesses, and they didn't forget the cultural reasons that those places remain that way. Look at India or Nigeria, huge economies where tough crackdowns on real decentralized capitalism led to total failure for those "governors" who tried. These cultures all know the escape routes, and aren't afraid to use them.
and that trend is only spreading, as people are being forced into it, ever closer to the literal borders of the western over-financialized system (Turkish lira is failing faster and faster these days, and Ankara and Istanbul are full of open cryptocurrency trade). the so-called PIIGS countries of europe will be the powderkeg imo, as the prevailing attitude there is to take what they want of the financialized overly-controlled stuff, and leave the parts they don't like.
so I think your focus on the "on/off ramp" argument is flawed, and really I said it in my other reply: real people know they have real stuff to trade, and won't trade it for money that is too dysfunctional. Period.
Yes. The more people that are forced to use crypto the stronger it gets and eventually there will be the ability to not have to get out of it. Just like in the EU you don't need to get out of the euro. Or the dollar in the US. etc. There will be no or little need for an on/off ramp for bitcoin, you will just use it like you would other currency except that you won't fear 149% inflation as in Argentina or high inflation like the US or EU have been experiencing. And you won't lose half the purchasing power of your money over 20 or 30 years. Regulation is helping people realize the value of a non-fiat, non-government control asset if they didn't already. Many people already knew, but a lot of people don't realize what 2-3% inflation does to the value of your euro, dollar etc over 10, 20, 30, 40 years and they are a lot poorer for not realizing it. The people of Venezuela, Argentina, Turkey, Sudan know the destruction caused by inflation, but much of the rest of the world have become inured to a 2-5% annual inflation rate. |
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I think a logical explanation will be that people are removing their coins from centralized exchanges, because they see what is happening with the SEC and Binance in the USA. This might be happening all over the world at all the exchanges.... so the result of that is.... lower supply and less transactions on exchanges. The price of Bitcoin are determined by the market (Supply & demand) on these Exchanges... so you can see the impact that can have on the price. (This is just my own theory.... not actual facts) I think the smart one are doing so. My sister-in-law asked me about it a few weeks ago and told her she shouldn't (still) keep coins on exchanges. I'd only been harping on it for 7-8 years. But she actually is doing something this time. And I agree, someone will CLAIM it is a bad thing, but BTC dominance is a good thing. All the alts are too centralized, and many are just junk. ETH included in the centralized portion - when you have one person or a small group who can roll back transactions and fork, long term that is a huge risk. |
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It would be a big positive if approved for the fiat price. Likewise, it would put a lot of huge players and money behind bitcoin making it much more difficult to stop in the US. The more uses the better.
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I’d also add that it probably reflects the content of the action and that there is not some clarity from the SEC even if not “do what you want”. Much of it - IMO - is bs, and perhaps this shows that others agree.
The fact is that they don’t like money being outside of their control and the Keynesian’s monetary policies serve the powers that be and they will try to stop it, delay it, or confuse it (with CBDCs).
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“The current regime, clearly, they have it out for Bitcoin,” DeSantis said. “And if it continues for another four years, they’ll probably end up killing it.”
He is exaggerating greatly. Sadly I expect one of the things his campaign will show is how few people actually care about bitcoin. And it will not be a correct measure for that either since, as I noticed he is exaggerating, other bitcoiners may see that too and might not care about a pretty much lost cause (i.e. DeSantis). But I was proven wrong in my predictions in other US presidential campaigns too, so take my words with a pinch of salt, just for case the reality will prove me wrong and will make me an interestingly nice surprise.  I think it would be more accurate to say “And if it continues for another four years, they’ll probably end up ATTEMPTING TO killing it.” I think bitcoin is passed the tipping point and while it might be more difficult if they tried to kill it, it wouldn't succeed. He is right about the desires of many the current politicians around the world to try to kill bitcoin because it interferes with their inflation loving agenda of Keynesian policy which allow them to steal from people's savings without the people being aware of it much of the time. Until inflation hits and then they attempt to blame everything except their own policies for the issues. Likewise, he is right about the wishes of authoritarians around the world to stop bitcoin because it robs them of victims by allowing people to protect themselves from insane policies. DeSantis has a financial war chest twice the size of Trump per an article I saw last month so I wouldn't count him out. ( https://www.politico.com/news/2023/04/28/desantis-trump-money-00094205 ) |
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The best time to buy is when it is not being hyped. Just ask the people buying banks in 2009-2012. Or Apple in 2000. Buying at other times isn't bad, but the most bang for you buck is when there is blood in the streets.
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Trusting 3rd parties with your private keys or your coins is always a bad idea. No matter how smart or good intentioned, someone, somewhere will screw it up eventually, particularly when there is a large target (unintended bounty) like this.
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The big thing that can happen is regret if you use your appreciating bitcoin today to but a depreciating asset like a car. Suing someone because bitcoin went down in value is insane. Giving how the value of fiat drops annually, everyone would be open to suit under that standard. It you can handle that risk, convert it to fiat.
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It would be interesting to see the same stats but leave off coins that were never moved after being mined. I suspect there were many people who mined the coins and then didn't care enough to save the private keys. Or they did and then lost them.
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Hard to believe he got off with only a year. Makes one wonder what SBF will get away with. Let's see if SBF's was $21 billion and his was 3, maybe he'll get 7 years.  As mentioned above, if they were liquidating that much in a short, it certainly would increase the supply and consequently decrease the price. |
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Closing down one of the biggest bitcoin mixer is never the solution because once this is done..this0l opens the doors for new competition and its not one mixer coming ,its several of them which will make the authorities job even more difficult if they try to close down the new businesses on the block... BTW how different are mixers from coins like monero, i really dont get the fuzz of closing down tumblers Any centralized service, whether mixing or not, is prone to this. Sure others will pop up, but there is no way to tell a priori whether they are legit, scams to steal coins or set up by the authorities themselves. A protocol level privacy layer is one long term solution. There are current solutions but none are as elegant as something at the protocol level. No, I seriously doubt that ChipMixer were some kind of "Honey Trap" for the law enforcement authorities, but I know they do run Tor Exit nodes to gather information, so they do things like this. ChipMixer painted a target on their own back, by being one of the largest coin mixers out there, so law enforcement zeroed in on them as a primary target.  Yeah, I didn't say ChipMixer was a honey trap, but that the ones that pop up to replace it could be. |
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I really wonder where they got the idea to send 62 BTC to Moon, why not 20 or 50 BTC, for example?...
Perhaps because it is a palindrome in base 5 or perhaps because it has divisors of 2 and 31 and 2^31 is 2147483648? Or maybe in base 3 -> 2022 which if you add the digits you have 204 and then rearrange it to 420? lol Perhaps though it has to do with the symbol for element #62: SM |
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Closing down one of the biggest bitcoin mixer is never the solution because once this is done..this0l opens the doors for new competition and its not one mixer coming ,its several of them which will make the authorities job even more difficult if they try to close down the new businesses on the block... BTW how different are mixers from coins like monero, i really dont get the fuzz of closing down tumblers Any centralized service, whether mixing or not, is prone to this. Sure others will pop up, but there is no way to tell a priori whether they are legit, scams to steal coins or set up by the authorities themselves. A protocol level privacy layer is one long term solution. There are current solutions but none are as elegant as something at the protocol level. |
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Sounds like Revolut (they never added an option to deposit/withdraw crypto).
Please stop shitposting, the option for BTC withdraw on that service has existed since 2021, although only as a premium option. I don't know what the situation is today, but most of the people who use that service are not too interested in non-custodial service. Besides, it makes no sense to compare these two companies, one is a giant and the other is just a small dwarf. Just to be clear, I didn't go the next step to open an account so I don't know if they have a withdrawal option. I just didn't see it discussed on their site. Likewise I tried it from a HSA account so it could be different from a regular brokerage account. Any adoption is good, some is obviously better. |
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It appears to involve another step. When I check, it says:
"You don't have a crypto account
Start trading with Fidelity Crypto℠ today."
Then you can open an account. I don't need one since I wouldn't trust a third party with my coins and it appears it is only trading and custody without any way to take the coins out of Fidelity.
It is certainly better than nothing, but I don't see a "withdraw" or "send bitcoin to address" option in the information and without that, it is really hobbled.
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The article is from 2018. It is valued higher (at times at least) now - $14 billion as of recent quotes.
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Regarding this:
"they were fascinated to see that a little-known token that’s supposed to be backed one-for-one to the dollar was getting printed in large quantities. "
The token was tether. Has anyone actually believed that these stable coins are truly backed one-for-one? When tether came out, it seemed awfully scammy to me. It is easy to claim it was backed by the dollar, but not have the reserves without any way to prove it at the time. To me, I'd rather have bitcoin for crypto and not mess with stable coins.
I'd ask, do you think the spike in the last 18 hours was because it was "propped up"? I am sure there are attempts to manipulate it, but the question is how much is it truly manipulated? How long could one keep up the manipulation? What was the reason for the manipulation in the last 18 hours? I don't know the answers, but the paper seems to say only some of the time. As the market gets large, it gets more difficult to manipulate. ETFs and the like would make the market even large and consequently more difficult to manipulate.
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