bis der netzwerk effekt vorsprung, den fiat geld beim bezahlen hat, von bitcoin eingeholt werden kann, dauert es noch eine ganze weile. bitcoin muss sich zuerst als stabiler store of value etablieren. dann werden die leute auch irgendwann anfangen damit zu bezahlen. den erfolg von bitcoin daran zu messen, wieviele leute damit ihren kaffee bezahlen, ist nicht zielführend.

ein globales, unmanipulierbares, unzensierbares, unfälschbares reserve asset - mehr muss bitcoin nicht erreichen.

this is the trade of the decade and a speculative attack vs the USD.  the combination of dirt cheap money, money printer goes brrrrr, and nothing juicy left to invest in, will suck in billions of USD.
everyone and their grandma will be forced to do the same.

not my style but i encourage you to post more pics of men . it will raise eyebrows of those that accidentally see what i am checking on the WO in a slightly different way than the usual girl boobs/bottom pics.

"have fun staying poor"

2017 ATH we only had 1 daily average above 19k and only 2 daily averages above 18k

this time we had so far 7 daily averages above 19k and 12 daily averages above 18k

that is 3 days during December 2017 in contrast to 19 days currently.


question to WO TA experts:

does this still resemble a potential double top?  are there rules on how many candles can be counted to form a double top? we have been up there only 3 days before, but now ist almost 3 weeks. can it be even compared?

lyn alden rocks

mr tone vays ist wohl unter die proud boys gegangen. sollte ich jemals etwas positives über ihn geschrieben haben, nehme ich alles zurück und behaupte das Gegenteil. Trump-fan, covid Leugner und jetzt auch noch proud boy.

fefe hat ja schon mal geschrieben, man solle von bitcoin die finger lassen, denn damit mache man nur die rechten reich. das werden wir jetzt, dank solche vollidioten, noch öfter zu hören bekommen. bitcoiner sind alles drogenabhängige. und terroristen. und steuerhinterzieher. und jetzt auch noch nazis.

 

tone vays is now a proud boys activist. I always thought he had a brain but I was wrong. 

this is a speculative attack. and we all know it is a viable one. and Wall Street will watch it in awe. and it will work out. every calculation about bitcoins possible future value needs to be re assessed. when we calculate the future price of btc we always try to figure out what percentage of what market cap or asset value could migrate into btc. this is short sighted. this leaves out the elephant in the finance room. we always calculate with existing value. but there is a much larger value in the form of credit. fractional reserve. banks create money out of thin air by creating credit. if you go to your bank tomorrow and get a 50k loan for a new kitchen, the bank creates those 50k with a stroke of a key into their accounting ledger. this is not the "money printed" by central banks. this is money printed by every private bank on the planet every day, all the time.

the narrative "don't speculate with borrowed money" that sort of prevents us from maxing out our credit to buy moar btc is about to change. what seemed to be irresponsible in the past will seem mandatory in the future. you can trade worthless, ever-inflating, dirty, debased fiat money in the form of truly limitless credit into the hardest asset ever invented. into pristine, mathematical secured collateral. into the a proven trustless digitally scarce unforgeable, uncensoreable, unconfiscateable best form of money ever existed. and the interest for credit is at historical lows, so it is even fkn cheap to do so and also - since the interest is so low it is hard to find an asset that creates enough returns via interest - fiat has no chance.

credit is cheap. bitcoin will rise. as soon as this gains traction it will swell to a tidal wave.

credit will destroy fiat. because the best bet for credit is to bet against fiat. because fiat is worthless and bitcoin is truly scarce.

i will talk to my bank tomorrow and I will get a loan. and with it I will buy btc. and if btc rises I can get more credit. rinse and repeat. this is how rich families have played the real estate market for decades now: get a loan with real estate as collateral, buy more real estate. wait for prices to rise, get another loan buy more real estate.

this game will be played with bitcoin. and since bitcoin is not a clunky 7 bedroom hacienda but a native digital asset moving at warp speed through the interwebs. holy cow -  the extend to how deeply fucked the fiat world is I have problems to find the words here.

fiat is limitless. credit is limitlessness on top of limitlessness. bitcoin is the first truly scarce, limited asset.

my conviction doubled. grab all bitcoins you can. sub $20k is as hilarious as $2, considering how much credit banks can produce.

I declare complete and utter victory. saylor for president.

fractional reserve will eat its children.

bitcoin = layer 1; LN = can be used as payment layer2

can be compared to

Dollar = layer 1; Paypal = used as payment layer2

so what is wrong with that comparison? his argument is that the real problem that bitcoin solves is digital scarcity. that is a 0 to 1 achievement. to implement a payment layer on top of it is just a 1 to N achievement. payment layers are a technical solvable task that has been solved in various ways and it is not exiting or important. to create a decentralized, safe, secure solution for double spending problem and Byzantine generals problem - that was the difficult/unsolveable hard problem that bitcoin solved.  I´d say Saylor has a profound understanding of bitcoin.

rl WO footage spotted. 


https://www.reddit.com/r/Bitcoin/comments/k9nn8z/fantastic_mural_in_wan_chai_hong_kong/

ich hab auch was gespendet vor einigen tagen. schön zu sehen, dass es vor Ort ankommt und etwas bewirkt. 

we climbed every peak of this range. we went through all the valleys of despair. one after the other. step by step. with no oxygen mask, no compass, no ropes but still most of us found the way. because we went together.

you all did a great job but I have to tell you its not over yet. next year we need to climb mountains so steep and high it will make our past adventures look like a home for the elderly bus tour.

the following could give a little hint what happens when dumb money is chasing an illiquid "asset".


holy fuck. buying bch is in itself a case of intellectual bankruptcy. but buying it at a 1188% premium induces physical pain to seasoned WO readers.

but it gets better...




financial markets means trillions. always remember that the difference between a billion and a trillion is roughly a trillion. (same as the difference between a million and a billion is roughly a billion  ) bitcoin is very tiny/illiquid compared to those trillions. the trillion dollar fomo will arrive this or the next circle.

https://www.theblockcrypto.com/linked/85803/grayscale-bitcoin-cash-litecoin-premiums-assets

as long as it is bitcoinlandia, neighbors are great. what I cannot stand are the shitcoin morons claiming "we are all in the same boat" they call crypto/blockchain. as if cargo cultists belong to some real aircraft fleet.

https://en.wikipedia.org/wiki/Cargo_cult

such a shame to lose all the bitcoins we never bought, kept on mtgox and Quadriga, paid butterfly labs, squandered on Silk Road, trusted pirate@40, invested in one-coin and put the rest on the bcash fork and grin. and all that before the boating accidents became a thing.

so the answer to the covid economic shock should be

-let all th small businesses die?
-let all the folks who lost their job starve?


money is printed in record numbers but it does not get where it helps people in emergency economic situation, it only goes to the banks/crony capitalists. the rising inequality is mainly due to unfair taxation, wages stagnating for decades, while cost of living rising every month.

if helping people out of an emergency that crony capitalism has created is communism, well then I guess I'm a commie. 


UBI is coming within this decade, and it will be a good thing for bitcoin.

check out the DXY chart. $ is looking weak. in 2017 the weakening of the $ coincided with strength of bitcoin.

wait, you are salivating publicly about martial law and "rounding up" folks (with no evidence, just accusations) but I was "taking the discussion political" when pointing out some asymmetry regarding the freedom you lose by wearing mask compared to losing all constitutional rights?

regarding bitcoin: civil war in the mightiest empire of history will create chaos. I don't know what degree of chaos will help the price of bitcoin, but if it is enough chaos the internet and magic internet money will not be the important things. food and ammo will be important. I don't think that the world has to collapse in order for bitcoin to shine. I rather have our civilization survive without civil war, martial law and shit like that.

it is very interesting to see that the same folks who think wearing a simple mask during an airborne virus pandemic is against their freedom are the same that think it's ok to declare martial law, pause all constitutional rights and have the military take over because they can't seem to find any evidence whatsoever regarding their made up fantasy world of "election fraud"