Bitcoin is many things to many people - why people choose to own hold bitcoin depends on their circumstances and views of what bitcoin is today and what it could become in the future. These views have been the subject of misunderstanding, confusion and debate. Historically, such debates have revolved around whether bitcoin, the native asset, is a store of value, medium of exchange, alternative asset, all of the above, or none of the above. Additionally, it is still undetermined whether the underlying blockchain is best used to facilitate wholesale clearing and settlement, consumer payments or the anchoring and timestamping of arbitrary data.
The truth is, as the ecosystem matures, Bitcoin may simultaneously serve many functions - either foundationally or through incremental layers. One of the beautiful things about Bitcoin is that its success is not predicated on serving a singular purpose.
In this piece, we will focus on the view that Bitcoin is an aspirational store of value. We explore the inherent characteristics that position Bitcoin to fulfill this role in the future, consider whether it is being used in this way today, and discuss factors that may drive greater demand for such utility.
Please download the full report here:{pdf}
. https://www.fidelitydigitalassets.com/articles/aspirational-store-of-valueWe are at less than 2% of gold (EDIT: in market cap)....nice...long way to go. |
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https://twitter.com/dan_pantera/status/12885292397722951711/ “There are decades where nothing happens; and there are weeks where decades happen.”
— Vladimir Ilyich Lenin
We quoted that line last month – and, it just happened. The United States printed more money in June than in the first two centuries after its founding.
$864 billion
2/ With that first trillion we:
- defeated British imperialists;
- bought Alaska and the Louisiana Purchase (13 states’ worth of territory);
- defeated fascism;
- ended the Great Depression;
- built the Interstate Highway System;
- went to the Moon.
3/ For the sticklers out there with the knee-jerk counter-argument:
“Hey, you need to use constant dollars – take into account inflation!”
The answer is:
That’s EXACTLY why one should get out of paper money and into #Bitcoin I like Dan, but cannot agree with the following quote, especially with "until then" part: Stay long crypto until schools/daycare open. Until then[emphasis mine] the economy won’t function and money will be continuously printed. School opening won't mean much as schools around here are opening, kind of. |
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This is bullshit. The fair price of bitcoin is $12,500.
SOMA.
Well look who the badger dragged in! Welcome back. Tip o' the hat, xhomer. Your millinery prowess is still very much appreciated! Love all the new additions. I've had a lot of time to practice since the last ATH  Ah the last all time high. Fond memories. The next ATH is coming. Here is my reasoning: FUD over the 2020 USA presidential election will cause both the left and the right (that have money) to plan an exit strategy. Here is one case of planning to be able to be outside the USA for the election. Tom Hanks and his Wife have applied for and received Greek citizenship. They can leave the USA and go to Greece now. I can not go to very many countries since I am merely a USA citizen. Many Countries have banned me from entering them. Due to Covid-19 restrictions. Sooo If Hanks is doing this he will want to have funds in Greece. I would be certain he and many others like him will load up on BTC just in case. Both the left and the right anyone that fear election issues. BTC is the single best way to move funds around the world. So I look for many wealthy Left and Right wing people to sink some cash into BTC. As we approach the USA election I think we could see an all time high again. Time will tell. I think that on Nov 1 we will hit an all-time high. Sad to hear about countries banning us, what it all came to? BTW, quite a few citizenships are for sale, but are they really worth it? I doubt it. First off, US still tax you for income anywhere around the world. Second, not sure where is better to live. BTW, you can still buy property in, say, Canada and spend 182 (but not 183 days or above) of the year there. Can't get the subsidized medical care there, though. |
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... growth models of new technologies, networks, pyramid (ponzi) schemes, cancer tumours and pandemic spreads are identical. It's the maths of exponential growth. No. It's based on logarithmic growth, which is pretty much the opposite of exponential as the rate of growth ("speed") continues to decline. Logarithmic:  Exponential:  Bitcoin:  End of mathematics class Not going to formally pick a side of an argument, but you presented the logarithmic growth with a linear scale on the "y" axis", but compared to bitcoin which you presented with a logarithmic "y" axis scale. Exponential growth looks like linear growth when using log scale: you get a straight line. |
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Wait, did something happen?  |
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PlanB @100trillionUSD Still hoping to buy the dip at $6000? Don't hold your breath! 200WMA just passed $6000. #Bitcoin never ever dipped below 200WMA. 200WMA never decreased. 200WMA is increasing with $200 every month.  https://twitter.com/100trillionusd/status/1287078394908336130?s=21If you know, you know ————> . 🔴 🔴 🔴 🔴🔴 🔴 🔴🔴 (Credit for dots  is @blockfolio on Twitter)I like S2F and everything, but planB is 'teasing" the universe with his suggestions of a smooth sailing. I would prefer that we just wait and see. 200 WMA will be broken at some point, hopefully not now, though. It could be 5 years or 10 years from now, but broken it will be. |
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Now for the fun part
I have a confession: I did not write the above article. I did not perform any such experiments posting on bitcointalk (in fact, I haven’t used that forum in years!). But I did it on my own blog! This article was fully written by GPT-3. Were you able to recognize it? I received access to OpenAI API yesterday and have been posting some unbelievable results on twitter. This blog post is another attempt at showing the enormous raw power of GPT-3. This is what I gave the model as a prompt (copied from this website’s homepage) https://maraoz.com/2020/07/18/openai-gpt3/who is to say that this "confession" was also not written by GPT-3? ...it's [GPT-3]s everywhere to horizon now |
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I've just bought a new monitor at Newegg.com, and paid with Bitcoin.  Payment went thru smooth and fast. Much better than using my local (Argentine) credit card, asking for authorization for a payment abroad, and informing my unfriendly gov about any usd movements. The only drawback is that i spent my precious hodled satoshis. Now a frenetic bullrun will surely begin.. This is going to be the more expensive monitor ever (0.07 BTC for the records). Enjoy the +200 usd rise in minutes.. That was me, spending sats. Crap, Newegg is taking Bitcoin again? I still can't bear to throw out my $4,000 cell phone from a few years ago. Aarrgghh!!! That's OK, I am still holding my "$325" iphone from late 2017... ...er, not really, but it shows that sometimes you can get a bargain if spending strategically. Something to remember in 2021-2022 as we peak, hopefully. |
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I am sorry for OT, but Tesla model 3 is a car that is made of cheap materials and is too small for the price. Sales are down, yet sales of "credits" are up 400%. Stock is up in OT, of course. TSLA stock is at 300bil valuation. IMHO, a crazy mania, indeed. https://www.wsj.com/articles/tesla-charged-up-but-going-nowhere-11595454092Thank g-d, I never shorted it. Was considering calls last summer and even was on a waiting list to buy the car at some point, then saw it in person-no go for purchase. Glad that btc is up, but annoyed that we are not leading in %%. Q: can btc do half-Tesla (5X) in the next 12 mo? I hope so. |
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The US dollar is about to break 10 year support. Come on Bitcoin, the time is now!!!!! How so? 10 year support is around 75 (EDIT: corrected from 73-74) and we are at 95 in DXY. maybe you are talking about 1 year support? |
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I said "that's it, I'd rather die than do this for another day," and I switched to self-employment afterward.
It hasn't been a cakewalk but I'm happy knowing I will never step foot in a cubicle ever again, working for completely corrupted fuckheads who value money over human life.
Welcome to the free world. Congratulations. Yeah, I am kind of the opposite of that, I guess. Was a performing drummer, and studio owner for decades before accidentally getting into what I do now. It's definitely a gilded cage. Knowing your in a cage no matter how gilded puts you far ahead of most of the working population that support a system they are incapable of seeing beyond. We all have to make choices but its nice doing it with your eyes open as opposed to the blinders whether by ignorance or choice. I still draw a salary, but, if and when btc gets to 100K+/-25K, I think I am done. Lately, especially with covid, a lot of nonsense is coming down the pike. So very tired of seeing nincompoops making the "new" rules at my place of work. |
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It’s that time in the cycle again, right? Indeed so. And it's worse this time... wonder what that means? we are about to see aliens?  |
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Reviving this "dead'' thread again... BETI is at a very low nuber of -2.885 (and people think that we are not still in the bear market, lol). https://bitcointalk.org/index.php?topic=470453.msg26854986#msg26854986At BETI=0, which is the fair value, we should be at $163304, which, incidentally, is the vicinity of S2F and S2FX At which point should we declare that BETI is completely dead and buried? Posting this just for kicks as I am bored senseless by the recent price action or a luck of such. |
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Can we get some memes for a 'flat' btc (apart from that with a poking stick)? I'll start:  |
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My thoughts: Bitcoin is going to pop one way or the other before the end of July. IMO it will depend on the Global Market. In the USA people are going lose their unemployment benefits at the end of July............what is likely to happen, is that we will see another huge stimulus bill pushed through which will lead to more inflation of the money supply. This should push the Global Markets higher, which in turn will allow Bitcoin to move higher too.
Im going to lean bullish here.
I agree that this is probable, but the question arises..when will it stop? Never? Are we at a verge of basic income and MMT? Too much resistance to those ideas, so it is unlikely to happen. However, passing every 6 mo a 2-3 trillion bill does not seem likely either. At the moment, it is clearly gold and high beta stocks that benefit the most. Bitcoin is not in play and I wonder why. maybe because it was in a deep correction for too long and lost its appeal with the fast money. It could be temporary, though. At least, this is my hope, but the whole apple-cart is upside down. If the trend described below is true, then we would have a deflationary impulse as well: https://www.politico.com/news/2020/07/19/wage-cuts-economy-crisis-368508 |
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kellrobinson, the base trend was pierced because people panicked about an unprecedented (in our lifetime) global pandemic. We recovered from people panic dumping very quickly & it’s now history. It was a totally isolated point & likely won’t happen again.
There’s definitely at least one more parabolic, face melting blowoff top for bitcoin.
In the next year or two, there isn't a hell of a lot of difference between the parabolic regression forecast (yellow) and the logistic regression forecast (blue). By that time, there will be occasion to re-evaluate anyway. I think corn go up, probably another crazy FOMO boom, but FOMO not guaranteed. I'm re-evaluating my projections based on a seat-of-the-pants feeling. The parabolic regression's projection just looks too steep. The logistic probably isn't steep enough. Remember y'all, these are minima traces. So hungry honey badger gonna jump up and come down to rest sooner or later between those yellow and blue lines. Lotta real estate between those lines, going out into the future. Can't be precise with this kind of stuff. My two dinars. I'd like to see how that looks with a terminal price of around $10Million rather than $500k. That's the price it needs to get to in order to be useful on a global scale. If it stops at $500k then it has failed and would likely go back to something much lower. Since bitcoin has probably not reached its logistic inflection point yet, the results of a logistic regression are bound to be a crapshoot. $10 million is about as good a guess as any other. Here's a link to the equation that the regression calculator returned for my data https://cdn.mathpix.com/snip/images/xJ-Ks3hpZ0PB2dqkwFNkk9bHFi45RXJpZund7Ase0ds.rendered.fullsize.pngYou can manipulate the parameters to get the curve you want. The calculator I used: https://www.aatbio.com/tools/four-parameter-logistic-4pl-curve-regression-online-calculatorYou need to look at the logistic curve on a linear chart to see the familiar symmetrical "sigmoid" shape with the inflection point at center. The curve's appearance is deceptive on a log chart. That log chart makes it look like the inflection point happened several years ago. The inflection point of the logistic curve I posted is actually in April 2029. I am sorry, but this discussion is premature at best. Why fit something into a curve that is not supposed to fit? Can you fit AAPL or AMZN into a formula? personalities, technology changes, etc , etc. BTW, a curve suggesting 200K in 10 years is an impossibility. If it would go so slowly, it would fail long beforehand. People are impatient. We are in a 3 year bear market and people already losing interest. The crowd is only excited if you have a parabola. I understand S2F, but i don't get fitting btc into a regression or any other curve. |
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It's interesting that planB now extended this "scheme" to diamonds and real estate.
With silver, gold, diamonds, RE apparently on the same graph, it would be an exception if btc would NOT land on it and, hence, approach 288K/btc.
Did planB discover a basic law of finance (with an exception of stocks/bonds)?
Stocks and bonds might not fit in because there is probably no stock to flow for them.
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I have similar feelings, a " one last dip" scenario in the coming months before bull-run starts next year (or the end of this year). Ironically just found out I'm getting a decent fiat inheritance from an in-law (completely out the blue), but won't be distributed until early next year  It's nice news, but I want to be buying up 6.5-7.5K range as per usual, not some 10-14K range next year, it seems very likely the fiat will lose 20-40% of it's value by then  Solution: Currently on the hunt for an off-line low-interest loan to cover me until inheritance There have been a couple occasions over the last several years where I have taken out credit cards with 0% interest for ~16 months. This has happened during major buying opportunities. Appreciate the suggestion! You mind me asking what the max you were able to get out out of these gangster banksters? Going to explore this option, try get a handful I think ~DvsL Around $12K I think Cheers for info! Just beware that exceeding 20% of credit utilization rate on any card will eventually result in interest rate increase..emphasis on eventually. I took $5k once on a card like this a long time ago...they increased the interest rate on that card dramatically, even though I paid everything back way ahead of time. |
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