Is Montango dead now?

I just want to point out that we are here talking about Elwar's Ship/citadel/country, saying no-homo a lot, banging our balls with steel plates and writing (mostly) horrible haikus, while all sitting together sipping White Russians under the shade of ONE OF THE MOST IMPORTANT BULL FLAGS IN HISTORY THAT WILL BE TALKED ABOUT IN ECON CLASSES AND STUDIED FOR HUNDREDS OF YEARS... ahem.. sorry... got a little overly ME there for a moment...



"And that sharp dip you see, students, around March of 2020 was a result of the Covid pandemic and resulting panic.  Economists have theorized that the July 2021 bull run that stunned the whole Earth and defined the first ballpark stable value of the Bitcoin network, was both delayed, as well as strengthened by that anomaly. By artificially taking pressure out of - what obviously to us - was the beginning of the greatest monetary transformation of history it caused an even more violent rocket launch of the total valuation of the Bitcoin Network as we see it reflected today.

This period of time was extremely satisfying and I am certain nerve wracking for the few who were fortunate enough to have realized what was happening before the governments and other people of the world.

Allow me to read you this old-timey "Forum Post" from a person named "Boblawblaw" As he describes a painful ritual to distract him from the bone chilling expansions and contractions of his net worth in those days, in which he used a set of titanium plates to clap together over his testicles to distract from the pain of those early swings. The actual plates he used can be seen on the Island which he left to his adopted children, in the museum they erected (no homo) in his name."

--Some egghead Econ Prof of the future

You are only seeing the Bitcoin network as a payments network.  I am of the mind we already have a ton of good payments networks.  Bitcoin is a brand new monetary system, and it is programmable.  If the lightning network does not improve (and i think it is likely to by quite a bit) then something else trust minimized will take it's place.  And all the trust based models (Credit Cards, Cash App, etc) will flourish as they begin to use the bitcoin network at their base.  And they can continue to offer their advantages.  For example reversible payments.  Bitcoin will never do this.  And that is a feature, not a bug. But do we really want a world in which we have no option to pay a little to a trusted third party to be able to protect us from fraud?

People tend to look at Bitcoin in a one or two dimensional light, and proclaim that it is here to save us from all these things we don't really need to be saved from, and they miss so much.

What Bitcoin saves us from is potentially the greatest evil the world has ever seen... and it's not Visa.

I duuno.  As to things to hold other than Monero, BTC is pretty high on my list.

You're preaching to the choir n here... but you are dead right.  I think it's utility is higher than Ethereums in reality aside from the fact you can't create a fountain of endless scams with it.

I think the only way this discrepancy is righted is we continue to see the usage go firmly up.  Eventually the value has to catch up.

Plenty of room for this healthy pullback.  In the long run it is good NOT to go overly parabolic since that is what happens at the TOP.   I miss 11 though.

Bullshit did not fill our ICUs to 80% capacity with almost entirely intubated covid patients.  But believe what you want.  I have seen people dying from it.  Yes, it is not as bad as people had feared, but it is not "exactly the same" as anything really.  Just because politicians have seized onto this for their advantage does not mean it isn;t real.  You seem to be a black and white sort of thinker.

Ima jus leave this here...

This trend line on the 4H still looks pretty good...

MSPAINT.exe Agrees with you 100%!

This is a veritable shit-ton of hash power coming on.

Is there a chance?   That this hashrate is related to the Chainalysis contract to break Monero?  Serious question... I cannot see how that would be.

Much more likely someone discovered an exploitable hole in some cloud services server farm?  Azure? AWS etc?

Small chance this is new Asics coming on.  Unlikely.

Time will answer the last one, I suppose.

Wheres the volume though?  Although if we break this...  wooooo hooooooo.

And you know what I relish more than just seeing NGU?

XMR putting some of those ridonkulous shitcoins in the top 10 back in their place.

I always wonder about those.  Like you say was it a slip?  Or a drunken "eff it?". Or does the guy know/think something?

Seems much more than trival to throw 2.5-3 million bucks at something on a whim... but I suppose some can.

But my oijia board lines and graphs... we have a lot of room to strech out over the next hump.  I think i saw it as 145?  But 137 might be the top of it?  I still think 145 will offer resistence... in someones our friend on Binance fulfilled my prophesy.

Agreed.  And I hope it *IS* the new normal.

This is where I think we are on the bitcoin adoption curve:



The question is will price follow a similar trajectory?

Man, I hope so.

Yeaaaah...  Degens gonna degen, even if it's risky.

Honestly I would get my money off Bitmex if I had money on there.  I would not want to be playing musical chairs there just now.  Not that they are fundamentally dishonest.  But there is a real risk.

Healthy pullback = Healthy pullback

Transaction volume.
 
A 10% spike in a single day, and a solid new ATH.

I do believe there is a chance Monero decouples as you say.

One way to look at it is the major early alts are at cycle to a cycle and a half behind Bitcoin. Monero has only had one major rise. 

It is because Monero actually offers something BTC can't that it could express a higher value against BTC, and I think the possibility of that happening as the world heads tentatively into crypto is certainly non-zero.

Oh, and by the way...  This is really becoming my favorite mental rabbit hole... the idea that Monero could effectively become a privacy side chain of Bitcoin.

Monero is the strong front runner for privacy.  Even better than the lightning network.  If we can get that ball rolling it stands the chance to be a bit of a black swan event in my opinion.  It would be a solid use case for a separate but cryptographically joined block chain to Bitcoin.  It's the next killer app.  Maybe?

But no matter how we slice it we start to see those early bags move around it's gonna spook the market.  That reality will never go away.

I honestly think one of  CSW's angles was to  lay out the legal precedent to be able to demand access (via a fork) to those early blocks in all three major Bitcoin forks.  Luckily not only is that plan stupid, but the legal world seems to be having none of his BS.