So.. in other new Wells Fargo published this and the bitcoin community cheers in bullish adoration. I will tell you why they are wrong.   Don't get me wrong... I do think this is a bullish chart. But I believe the prediction is overly conservative. For internet adoption to happen the citizens of earth needed a lot of expensive things. A computer, and a connection to the internet, and the time to use it. Eventually the cell phone worked it's way into the mix, and even the lowly Raspberry Pi was created to bring internet capable computing to the least rich on the planet. These facts were the resistance behind this adoption curve. The building out of worldwide wireless networks is undoubtedly one of the most important achievements of mankind. Now for bitcoin. What will the users need? Nothing more than the things they got in the first adoption curve. A computer, a cell phone, and a network connection to the worldwide network. See the difference? Perhaps subtle... but very large. The implication of this chart is Bitcoin will likely follow a similar curve. I think not. (can anyone guess how cAPS thinks the curve might be different  ) This?  I think that's the same one, just compressed... I am thinking more along these lines:  Comparisons to the adoption of the internet are a great step ion the right direction for the folks at Wells Fargo and elsewhere. But they are still in error. The friction around internet adoption is exactly what needed to be built for Bitcoin's adoption. That whole curve is represented in the very beginning of our curve. |
|
|
|
So.. in other new Wells Fargo published this and the bitcoin community cheers in bullish adoration. I will tell you why they are wrong. Don't get me wrong... I do think this is a bullish chart. But I believe the prediction is overly conservative. For internet adoption to happen the citizens of earth needed a lot of expensive things. A computer, and a connection to the internet, and the time to use it. Eventually the cell phone worked it's way into the mix, and even the lowly Raspberry Pi was created to bring internet capable computing to the least rich on the planet. These facts were the resistance behind this adoption curve. The building out of worldwide wireless networks is undoubtedly one of the most important achievements of mankind. Now for bitcoin. What will the users need? Nothing more than the things they got in the first adoption curve. A computer, a cell phone, and a network connection to the worldwide network. See the difference? Perhaps subtle... but very large. The implication of this chart is Bitcoin will likely follow a similar curve. I think not. (can anyone guess how cAPS thinks the curve might be different ) |
|
|
|
Yeaaahhhh. The more I think about this... The less it makes very much sense at all!
There is some seriously important detail missing for sure.
But on the other hand wouldn't the forces who might have fabricated this whole thing (if it were fabricated) done a slightly better job?
Maybe the actual thieves received most of the fiat obtained from those 25k BTC converted. Maybe these who got caught are only the launderers/money mules. I'm not that sure about the fabricated evidence. (But I also won't rule anything out.) According to messieurs Hanlon and Occam, this happens more often than you'd think. Keep in mind that only the stupid ones get caught and posted on the dot gov site. The ones that get away... well, they get away and we never know how they did it. So there is a huge inherent bias in how we interpret this type of news. This story is not done percolating. For sure.  |
|
|
|
More evidence the feds have their claws in Bitfinex.
It will be interesting to see where those coins end up. Currently I think the only thing that we can assume as a speculation is this will remove some potential buying pressure for Monero. LOL. But for bitcoin... maybe bullish a little? Hard to say... net zero? Since the Bitfinex customers have been made whole (I think?) there is little chance of it getting dumped. In fact this takes some potential selling pressure off of BTC? I feel like the general price action right now is normal cooling off after some 35% push over the span of a single week... I do not think the market has digested this AT ALL. I guess it's a good thing that criminals are idiots.
Cobra doesn't agree with this. Are we seriously to believe the absurd notion that someone capable of hacking 100K BTC stores the private keys in… CLOUD STORAGE?
Yeaaahhhh. The more I think about this... The less it makes very much sense at all! There is some seriously important detail missing for sure. But on the other hand wouldn't the forces who might have fabricated this whole thing (if it were fabricated) done a slightly better job? |
|
|
|
Why the fuck are they even staying in New York with 100k bitcoin, LOL, dumb doesn't even begin to explain it.. I doubt they were the masterminds behind this scheme.
Not to mention that presumably they kept their private keys unencrypted(?) and with no BIP39 passphrase (?) on some idiotic cloud server? |
|
|
|
Works like a charm, too... Hmm. I wonder what's gonna happen now? Wait, I know! I am gonna figure out where the Cash App nodes are and make some channels... Bigguns. With big ass chewy fees so they can pay me back a little for the corn I've bought from them... Anyone knows what the CASH APP nodes are?  Thinking this through... I could see this channel getting drained of 0.16BTC really fast. So all I gotta figure out is how much do the fees need to be justify having to reload them over and over... Or even drop them and create new ones. Hmm. HMM! |
|
|
|
 $10 by EOD. Alright Richon. |
|
|
|
(snip...)
And since we have entered a bear market monero is gonna go below $50.
I hope he didn't put his money where his mouth is and go short... You are a nice guy kurious. I am not. I hope he sold his house and shorted it. |
|
|
|
|
What is going to happen when the money starts to pour into bitcoin from people all over the world realizing that all the pillars of society are crumbling including the financial realm.
Gofundme is teaching the masses about financial sovereignty and trusted third parties BIG TIME right now.
The Bitcoin ecosystem in on the brink of it's biggest stress test so far.
Is it ready?
|
|
|
|
100k incoming
Not sure we'll see it in 2022, TBH. Who knows... I agree, mid-70s would be amazing but I can’t see higher than that this year. Will be $120000 by November no ifs no buts FWIW, dug this up from earlier. Still stand by it. Part of me is fucking concerned if I’m honest.
My gut is telling me S2F falls apart soon. In shambles and an afterthought by March 2022. Hope I'm wrong, but I think we should expect a slower rise than some are anticipating. I remember that. And I too have been a critic of the theory and predicting it's demise. HOWEVER. Everyone right now saying it's dead? It does have one pathway to remaining valid for a little while longer. I am actually beginning to not really want the outcome though because it would look an awful lot like a blow off situation. And I agree with you that the overall chance of it being dead as of this point are dominant. And it will have picked the least exciting way to end. Just kind of a fizzling out. Whereas everyone (including me) has predicted it's destruction in some spectacular fashion. That said, it can still be destroyed in spectacular fashion as well. An explosion to the upside that does not resolve back down to the mean is one way. |
|
|
|
Observing $42,500  You've lost weight! New haircut? Also... that is NOT how a bart-down should start.  |
|
|
|
But anyway, from a pure trading perspective, watch out for ETH. If it doesn’t implode after the hard fork to POS, easy trend up to 10k imho. Talks going around that it’s def happening this year.
Borrowed from jjg.  I am probably about as anti-ETH as one could possibly be. That is not to say it might not be a good ROI, as it HAS been. But ETH, like all big-block projects completely breaks what Satoshi designed. First of all this is the simple logic: Blockchain databases with several other tech solves the Byzintine General problem and allows a decentralized database. Once you make a blockchain huge you limit the people who can be nodes. This centralizes the coin/project leading to things like chain roll-backs and scaling panic. Sound familiar? Thing is once you centralize you then have removed the only real reason to use a blockchain. Now you could just use some high efficiency standard (SQL type) database. So ETH ends up really only being smoke and mirrors. And that's not even the worst part. This decentralized world computer theater paves the road to a system that looks a lot like the current one, but with all the advantages of being centralized and digital. But because it is centralized the banks will either kill it and issue CDBCs or absorb it INTO a CDBC. That latter is your payday if you want to invest in ETH. But it is also t he smallest chance, in my opinion. Monero, on the other hand, might have problems scaling and remaining decentralized... but it has a shot not to, either by increasing use at a pace tech can keep up, or by 2nd layer scaling. ETH makes no sense. |
|
|
|
(I am translating from the sensible fahrenheit to the non weather sensible celcius for you Europeans and lovely brave Canadians (HONK), although I agree the US are cavemen as far as the metric system goes F is just better for weather, while C is great for science or cooking.. anyway never mind that).
Given the rest of the content of your post, the science of when water freezes might be considered fairly relevant. In truth, both are arbitrary and fine I am poking the bear with that. But I do also mean it... As I said C is better for science (and cooking which IS science really) for sure. 0=freezing 100=boiling. But 0-100 in F represents a (less exact) useful range of general temperatures for the outside environment with better granularity in between at the unit. 0=cold as hell and 100=Texas. with 60-80 being a nice 20 point comfort zone. But you only get about half the whole number granularity with the "science numbers". If we can only have one scale its Celsius all day long, obviously... but the good old fahrenheit still has a place, I think. Fun fact, When Anders Celsius first invented the scale it was 100 for freezing and 0 for boiling, it was later inverted. Pro tip, use half scales, ie 21,5 C for more granularity. How very odd in the context of life the other way... huh. I'm a big spender,
Where Bitcoin's legal tender.
Texas, here I come!
#sundayhaiku
Some day that will be. And cowboys will lead the way! Don't mess with Texas. (At least I hope... we could get beat by Arizona or Wyoming!) |
|
|
|
In the NL we say: A shroud (lijkwade, a shroud for the dead) has no pockets.
It is indeed, like cAPSLOCK so uneconomically said, about finding a balance.
BTW I do have a separate BTC address for my daughter.
This is smart. I have made them both (kids) a metal set of keys using the washer/bolt method but I have not loaded anything on them yet. maybe I should. There ya go kids! Now mom and I are gonna go spend all the rest. I hope it does not make you TOO mad one day.  |
|
|
|
Why is it so strange that you like to post your consumption pictures at times in which it is quite ambiguous about cashing out any BTC...
I am not striving to hate on your consumption.. but just seems to be a weird pattern of yours... .,. remember at $600/700 in late 2016, when you were doing the same thing? and you also did it at a kind of weird time in terms of when you got your Tesla, no? or maybe that time was more normal during the early 2021 run up to to $64,895, no? For sure, you are not the ONLY one.. but still comes off as strange with weird mixed messages for this here cat.
There is no pattern to me buying stuff that relates to the price of BTC. I know for you that would be the way to go about it, for me it's more about how life unfolds and what I like to do in that moment. As we all know you are much better at managing your stash then me and that's just the way it is. But on the other hand, I have a Lambo I think this balance is so important. I have thought a lot about what I will leave my kids. And to be honest one thing I am afraid of is just handing them more money than they could ever spend, and possibly ruining their lives by doing so. This is as compelling a reason to enjoy the fruits of my risk even when it might not be "the best time". I have several times told the story of buying my wife an I a trip for an anniversary. A week on an island cost an amount that would equal a really nice car TODAY. And I expect that sometime in the next few years the expense will be a significant percentage of a house on that same island. And my smart wife asked why we were going to do that. My answer was simple. We had lived through thick and thin with this stuff, and there are two basic outcomes if we spend a little now: 1. Bitcoin goes up so much tat our trip will have cost a car or house worth of money in the not so distant future. But this is a 'problem' we most certainly WANT to have!2. Something unexpected makes Bitcoin not work, and eventually what we have is worth very little... Well, we got a week in paradise out of it at least!
Win/Win. And at least 'till now it's turning out to be #1. And I do not regret it one bit. We die. And random ass shit can take us out. And a bunch of 256 bit number are not going to mean ANYTHING after we are gone. And like I said, though I want to bless my kiddos I don't want to make life so easy they drown in it. I *WILL* be buying my Lambo, or Ducati, or East TX ranch, or island house (it's that last one, by the way...), and it will be filled with the finest wine, and whisky, good food, and whatever accoutrements my wife wants. And maybe one day Strawbs will come over and drink some of that whisky and look at the sunset. Maybe others of you can come for a visit too! And it's not going to be that far in the future either... Many of us have been at this for over a decade. There is NOTHING wrong with enjoying the spoils. Just as there is nothing wrong with living simply and dying rich if you want to. But I'll be doing the former. *EDIT* The Dude said the same thing, but with much greater economy of words.
We save BTC to be financial free…
Which is; providing us some tools which makes us happy….
Better to buy and use them cause whiteout knowing time is up and our body lays between the wooden planks…
The coffin is for everyone, one just needs to decide ending in one with a lot of BTC or with some BTC and lots of experiences….
I know my choice.
|
|
|
|
|
*sigh*
This whole CSW back on twitter thing is horrible. The BSV camp has been upping the volume on their silliness for some time now, and this is just taking it to the next level.
I know I should just ignore it. But for some reason it's like passing a car wreck. I can't help but look.
I almost can't believe I am actually glad for COPA.
|
|
|
|
|
Show Posts
