Going from a site to an app is just swapping one form of vulnerability and centralisation for another. There'll still be back ends that can be accessed and messed with.

The natural place for this is on chain or baked into the reference wallet. No idea how easy or hard that is. Maybe not too sexy for marketing purposes though.

Seems pretty minor for a second wave. It's more of a bubbling under. Let's see what winter brings when more people are huddled indoors. I can't see any country doing another full lockdown no matter what but equally I've no idea how they'd tackle it if it started raging again.

Maybe while they're dithering that much vaunted herd immunity may arrive.

His gold move, while based on something he thinks is for fuckheads, was in line with his philosophy of value investing, he just extended it a little further than he has in the past.

The only way I could see him ever getting involved in anything crypto-esque would be investment in an exchange if one were listed and even then they'd have to be far more established and openly and consistently profitable to earn consideration.

I can't see him bothering in his lifetime. And in no way do I believe he has a secret stash and all this has been trolling.

I think he's fucking batty myself. If it's a one man band or your own savings then fine. If you're betting the viability of a modest business with a bunch of obligations and livelihoods attached then that's a rather different matter.

I guess it depends on what 'excess cash' means, but any trade is highly uncertain at the moment and if they have to tap it to survive it could well be 20-40% down when they really need it. I wouldn't have gone over a relatively modest percentage. That's not play money.

Apparently in a recent livestream Our Dave has bailed on all of his crypto holdings including BTC after a couple of failed alt trades.

https://twitter.com/stoolpresidente/status/1296862194689290241

Goodbye, Dave. We hardly knew you. We knew enough to know you'd be a yellow-bellied biyatch.

I expect this to be standard trajectory of slebs for quite some time to come still. It makes the Winkies look a bit dim luring someone straight into shitcoin hell. I know they talked him down from a higher allocation but I would've talked him out of it completely.

Everyone knows real inflation has been vastly higher for a long, long time. I have no idea why they bother claiming any figure at all. It doesn't bear any relation to the real world where it's doing real damage.

You won't be buying them. They're nothing other than the regular fiat currency with extra control on top. It'll be down to the government to transition populations into them. You eventually won't be given a choice. If one does happen it'll be interesting to see how the change is implemented.

Surely volume and action wins out even when KYC is introduced? I've never really seen anywhere else mentioned as a serious rival. There's Bitmex and then there's everyone else. And everyone else seems weak and fragmented.

Here's what it really means - https://twitter.com/DoveyWan/status/1296700861255573504



No way out.

And you can bet any other economy that adopts this won't be slow to shut off citizen access to alternatives when it suits them too.

Like other markets there are only a handful of days per year where the powerful rises happen. If you're not present during those days then your year will be either very boring or result in a loss.

Most of the time it doesn't do much and moves are slapped down because the only people present in the market are scalpers who don't require epic moments to make money. That can carry on for years and it has done. There has to be a tide of sentiment and new blood for it to break beyond that.

The only way prices rise is by demand outstripping supply and you need a consistent and growing amount of demand for a large and sustained rise which isn't here at the moment. When it is we'll know it.

If you bought 3 years ago and are still underwater that means you've must've bought near the peak of the previous demand so you'll know how manic it was. So did I in 2013 pretty much. It took 3 long, boring and occasionally alarming years to get back in the black and then it did it with a vengeance.

So far people are looking at a 4 year cycle based on the halvings with a peak in demand happening at the end of the year after production halves, that's late 2021. If you don't need the money I would wait until it is approaching that point to see whether it'll happen again. A lot of things are building in the background.

There's absolutely no guarantee of that happening but it is the most reliable pattern we've had so far and it fits human psychology. If I were you I'd give it at least a chance to play out. If it's correct this year will continue to be not very exciting but next year may be rather more so. If you've come this far you are likely to have already experienced the worst of it. 

That's my take. Feel completely free to discard.

It's possible one could happen without BTC itself doing very much such as at the beginning of 2017. A lot of people will have bags and if they can offload them that may totally change their attitude to a Bitcoin pump. Whatever need or pressure there may be could be taken care of by that.

If all of my goals could be reached by a shitcoin pump that would be far more relaxing.

The more time passes the more convincing Bitcoin appears compared to everything else to me at least. It's like a fully grown adult striding through a field of squealing babies. Maximalism feels like a logical outcome after some careful consideration.

But I see nowt wrong with experimenting with other stuff and they are often exploring avenues Bitcoin itself will never touch. However it's disingenuous to scream 'oppression' when someone casts doubt on your latest 'partnership'. As ever actions speak louder than words and the actions of most shitcoins condemn themselves effortlessly.

A lot of maximalists are boring, derisory and irritating and so is the opposition. Neither camp is going to shut up so you may as well leave them to it and cast your own vote.

She already was a SEC commissioner. The bigger development is the potential departure of Jay Clayton who hasn't been keen throughout. However even if you have a keen replacement there will be many elsewhere who are going to suggest you keep a lid on it.

Another company does this - https://twitter.com/TheRealTahinis/status/1295770434349281281 - a tiny one this time and it reads more like someone's personal preferences spilling over. Maybe they're doing it for an injection of attention.

If I were a small business conscious of cash flow I'd feel like a right twat if my 'bold move' sank me and got everyone fired but hopefully they've run the numbers without emotion.

It's not uneducation, it's the wilful rejection and denial of good old fact, or it's bent to fit whatever narrative they feel like hawking. We see it on here in countless forms all the time. They know and we know what the actual score is.

It's not for Bitcoin drama brats. It's for everyone else out there in the real world who otherwise wouldn't consider BTC. If it pops up through their usual investment channels they're going to be far more compelled to take a look.

I expect by the time an ETF ever did arrive, and it's going to be many years, there'll be multiple workarounds and better alternatives so it'll turn up with a squeak rather than a clap of thunder.

How big were Binance at the end of 2017? They were still pretty new then.

I can imagine there may be bursts that are bigger than then and then it'll fall back. There'll be more people lurking who are inspired to join in with brief runs.

If there's to be a proper bubble type thing I'm curious to see how the main platforms will cope. They could have multiple times more strain and not many will keep the people and resources in reserve when things are dead just in case it happens.

I remember Cryptopia moaning about going from 30,000 users to over 1 million in a few weeks. You don't magic up competent employees and better back end out of nowhere, and not in a few weeks either.

There's some pretty goddamn depressing lumps of granite in there, especially in Europe. I've read about people buying islands in Panama to arrive and find a surprise population waiting for them.

Even more so than super yachts, islands seem like something that are much better left as someone else's problem. I'd much rather rent and then bugger off.

Even though there ETFs based on much, much shakier things than BTC I don't see it happening any time soon. Those shaky things happen on markets under the SEC's full control. The Bitcoin market never will be. Dunno how they'll ever square that circle.

The Jay geezer going is helpful to it, but one or two commissioners agitating for it will still be outvoted by others. Even if those who outvoted them like the vague idea of it, they like the idea of not rocking the boat more.

Nothing in life is guaranteed. You can be confident about things, but not certain about things.

If say $20,000 meant I could secure $10 million and still retain a respectable amount of BTC for whatever happens in the future then I'd be very tempted to do it. That would be far beyond my actual requirements already.

A future 20 or 50 or 100 million would be more than acceptable too, but I wouldn't actually need that much and I'm not sure I'd wish to risk not securing what I originally identified as a healthy amount to pull out just in case.

If $20,000 meant $1 million then, while that's obviously a figure most people will never see, that's not enough to be in complete control of the rest of your days in a first world country and I'd put my faith in the future and largely stay put as long as the rest of my finances were sound.