Yeah I just heard about this. Honestly I’ve been doing the wrong airdrops like LayerZero and Zksync when I should of been these projects like that.

It’s crazy because we all assumed SOL would go to zero but here it is with such a huge airdrop. Reminds me of ARB and those other 4-5 figure air drops.

There are still a few people who had tons of coins which were over 10 years old which cash out from time to time. Even once in a while we have someone that cashes out the original 50 BTC mined coins.

If you look at the coin days destroyed it shows you a graph and when a large portion of old coins are finally being moved. Usually this happens when we hit new ATH and sometimes when it looks like bitcoin is crashing.

Looks like the Fidelity BTC ETF is now listed on the DTCC also as FBTC. I know there is some chance this doesn’t mean anything but it’s pretty positive that they listed it.

Seems everyday now we are having some type of etf news. I heard that the odds now are 99% that it’s approved by January 10th or so.

Should be an interesting month.

When ETH fees were low sometimes you could get lucky and buy something on a dex and send to a cex and get some arb going.

However with fees this high it’s usually not worth it since most of your money will go to paying gas fees for the dex transactions. Keep in mind this is only low liquidity pairs. Something that has a large market cap you can forget about arbitraging, especially on a CEX. Would need a bot for that.

Honestly I would keep the computer and learn how to code and write smart contracts, etc with it and just use the $100 allowance you get to buy bitcoin.

We don’t want you selling your computer and then bitcoin tops and you get regrets selling your computer. You don’t need to invest large amounts,  Nothing wrong with starting small.

Also make sure you use a hardware wallet or some type of cold storage setup. There are a lot of hacks and scams out there and your crypto might get stolen.

His stance on bitcoin was never positive. Just like Warren Buffet. I don’t think he will ever come to terms and accept it.

However besides banning businesses and customers of his bank from acquiring crypto, there isn’t more harm he can do. He doesn’t have enough influence of the SEC to get it from being approved.

Whenever he mentions something about bitcoin, just ignore it.

I don’t think it’s the retail traders that are causing all this bull moves. Look at coinbase today, someone market bought like 500 BTC and it touched $45000 only on that exchange. It seems there is a huge demand in short time and almost no supply, at least right now.

Look at Bitmex open interest, last week at $38K someone opened a $200M long. This is obviously some fund and not a retail trader. We also had that weekend pump last time. I assumed it would fade but it was a real move. There is also Tether and every week about $1B is added to the crypto markets.

Yeah they barely use any bandwidth, it’s just sending a nonce back to the pool every few seconds per machine. Depending on how you configure it you can make it send 1 share per minute per machine and it’ll use almost no bandwidth.

But you need a reliable connection. I tried before with a cell signal and it was awful, way too many dropped connections. Have a good quality switch and you shouldn’t have too many issues.

We kinda knew CZ stepping down would be bullish. The market reacted in a positive way when it was announced and deep down we all knew this had to happen to pave way for the spot etf approval.

Binance being so big was never a good thing and most likely would make it difficult to get it approved but now the CME actually has the most open interest and it’s becoming less centralized as to just one exchange.

Similar to what happened when Arthur Haynes stepped down.

I just used the weekly timeframe but I drew from the ATH and the cycle low.

I know that there are countless timeframes and ways to use fib levels. However the lower the timeframe the less accurate they are. So I used the most concrete levels, cycle low and cycle high and it seems to have some accuracy. But I agree with you, its not that useful on any timeframe other than the weekly or higher. This is similar to moving averages. They are accurate on higher timeframes than lower timeframes.

Yeah I saw that title and I assumed it was  one of you trying to be funny. But after reading the thread it seems it’s legit.

Another one or two of these posts and I say we are near the peak. Already almost every post on /wallstreetbets is about bitcoin. Almost every financial tv program is talking about bitcoin. People are calling for new ATH already. We got $2000 daily moves in price. Seems toppy.

Mining hasn’t been profitable for a while. Especially after ETH went POS, it killed many home miners pretty much. Sure there are bitcoin ASICS but the machines are very expensive and you need to know people in the power industry to get great rates on electricity, it’s very difficult to do it in a personal home.

From time to time some new coin might come out and be slightly profitable but many miners these days are barely making anything.

It won’t go to $1 because unlike tether and USDC you can’t actually cash out your USTC for $1 of real US dollars. So there is no reason to maintain the peg.

I remember many warned people not to use that stablecoin since it being backed by bitcoin is crazy since it’s very volatile. Nobody listened until it actually came crashing down and everyone lost everything they had in the stablecoin.

The difference between spot and perp is mostly leverage. With spot you basically got 1x leverage. There is margin trading which is slightly higher leverage like 3-5x. You borrow USD to buy more BTC and pay interest.

Perp trading is basically up to 100-200x or so. And it’s meant for short term trades because you pay a funding fee every hour if you are going with the crowd. If you are against the crowd you sometimes get paid for funding instead of paying it. Hence why these are best for short term trades. You can also get liquidated but 1x spot trading you can’t.

So how much do we save by using this service?

Say your transaction is 100 sat/byte currently and by using this service how much will it cost effectively?

I don't really get why they would offer a service like this when they can just process the higher transaction fees instead of getting paid less than what they can get on the mempool. Can someone explain what the benefit is to the pool exactly?

If you look at any of the prior bitcoin bull markets right after it topped, you will see that it provided barely any dips. When the dip came, it was usually the peak of the cycle pretty much.

When bitcoin starts to pump, whenever you check the price it goes higher and higher and it’s hard to buy the dip. Eventually people get FOMO and they end up buying the top pretty much.

The worst scams in my opinion are phishing scams and the scams going on on twitter.

Phishing is bad because if you use Coinbase or Kraken or any decent exchange you might get an alert from them and think it’s legit. You will click it without thinking and get sent to a phishing website. This is because they spam everyone even people not in crypto and eventually run into people that use the exchange and fall for it.

Twitter is second because they got those fake, send 1 BTC and get back 2 BTC which are pretty convincing. Because if you check the block explorer you will see people send them BTC and get back double, however it just bots and eventually someone will fall for it.

From what I understand this started first in San Francisco, basically any theft under $950 and the cops don’t deal with it. So criminals would steal under this amount and get away with it.

Then after covid and after we got protests and looting it become more common practice in more cities.
People did it once, got away with it and now they are doing it everywhere. They need to start arresting these people and this will end eventually.

Basically L2 and lightning will be the solution. These solutions are in use with Ethereum pretty much. Ethereum fees were awful for years and people finally started to just use Polygon, Arbitrium, Zksync, etc.

The transactions are very quick, very cheap. I think on Arbitrium it’s like 10 cents but on Polygon I’ve seen a transaction go for less than a penny. And you got pretty good protection. And if you want you can easily bridge back to ETH for cold storage use. This will happen to bitcoin pretty soon due to these high fees.

Very surprised that this move happened on a weekend. There is also gold which hit an all time high during the early Asian session. No idea what is going on.

Maybe someone knows something. Last Friday I think someone went $200M long on Bitcoin perps on Bitmex. Maybe there is some leak about the etf. Seems very strange for All this to happen out of nowhere on the weekend.