Simple: God hates Trump and his supporters. God loves Biden and his supporters. How could it be otherwise? More to the point, I'm waiting to see the data. There was a time when I would trust stuff like this outright but that's going to take quite awhile to return. If you are waiting on "hard data" then you are missing the point. It doesn't have to actually be a cure-all, it just has to sound like one to the pleb masses. Watch as the Covid numbers magically dwindle early next year, news of the "cure" working miracles in the hospitals, the MSM fear mongering subsides, and the masses emerge and begin freely to go about doing their normal routine, and spending money again. All by design. Biden of course will claim all of the credit. |
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This is huge.
Square is selling double the Bitcoin that is made.
...and now Paypal is doing the same.
Paypal is almost 3X Square. We already know Grayscale is consuming a similar magnitude.
This is a Bitcoin supply crisis.
Base case: expect huge price moves from Bitcoin.  https://twitter.com/caprioleio/status/1324665302584623104Good observation. Also fractional reserve being called out on the market by big money will create huge price jumps. |
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I just got back from the near future.
BTFD.
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I wonder how this will effect the BTC market when the USA dumps 'One Billion Dollars' or more of Bitcoins in a USA Sheriff's Auction of illegal goods...ie Bitcoin siezed?
I'd guess the price would probably go up...I mean, the above BTC hoard would likely be split up in lots and heavy hitters then could buy a mess of BTC at a set price, in mass,
without driving the rest of their attempts to fill their bags with Bitcoin. Thus, IMHO, price would remain the same in market or go up?I'd expect all such from the auction no matter how many participated would likely be in HODL mode myself..such a buy would not be a 'short-term' deal, IMHO. Anyway, I know 'zip' ....damn interesting however!  Bitcoin: Always Drama! Brad Note that in all the past U.S. Marshal auctions of bitcoin, there was some effort to drive the price of BTC higher just prior to the day of the auction. Presumably by whales that didn't want to see these coins dumped on market. Price would fall a little after the auction was over. |
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How long until 1 BTC = 1 Lambo
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It may sound a bit extreme, but...
What if, in 10 years' time, all who sold in 2020 are labeled the new "pizza guys"? Remember Laszlo Hanyecz?
Jimbo gets it. Don't sell if you don't need to. Got a job? Got incoming fiat to cover your daily expenses? Then why sell? Instead, put any spare change in BTC and slowly increase your stash.
I put some fiat I had left in a bank account in BTC, back when it was around $6k. Now I can sell it, buy a shiny new Sony α7R IV, and still have the same amount of fiat I had before. But I won't, because I don't really need the Sony, not just yet. But soon...
Sell when you must.
Buy when you can.
HoDL what you have.
Some of these guys got the game all wrong. Borrowed $10K at 0% interest to live on/pay expenses this year, instead of selling btc when it was @~7k. Don't have to pay it back until May 2021. Now btc is ~$15k. #winningbigly Borrow cheap credit to live, let your bitcoin ride. This is what the wealthy elite do. |
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Fuck those barts.
Fuck 'em.
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Depending on your definition, the dollar is already hyper-inflating.
Stats show that real world asset price inflation is now ~6-8%/year.
The Fed targets 2%/year, so real asset inflation is already running 300-400% of that per year. That means the amount of inflation that should span the next 30 years, will only span the next 10.
The Fed is also saying we aren't even at their 2% inflation target, which is fkn laughable.
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I'm not saying the moved coins didn't happen. I'm saying that every few years, a large number of coins suddenly move right when someone (whales, etc.) out there needs a crypto "FUD drop" to get picked up by the MSM. Probably expect a small dump soon. |
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since bitcoin is a bearer asset it is possible to possess bitcoin. of course we all know that there are no physical bitcoin you send around the interwebs or keep them in your wallet - what you can physically own in reality are the private keys that allow you to spent your UTXO´s. be aware that the UTXO´s never leave the bitcoin network. it is a closed system. the bitcoin blockchain is a closed system: it is permissionless and p2p, but the info on the ledger never leaves the ledger.
1) bitcoin (the unit) can never leave the blockchain, where it is embedded
2) the only thing a bitcoin is pegged to is energy due to the mining process (impossible to directly peg a bitcoin (or any other blockchain token) to a physical object.) there are no utility coins possible due to this.
3) since it is a closed system that can only be pegged to energy there are only very limited use cases: the only thing a token in a closed system can be used for is if it represents something. imagine some weird machine that juggles table tennis balls. the balls can not leave the machine. what utility can the balls bring to users? they can represent something, that is it. what could they represent? the only abstract thing that would make sense to organize in an immutable ledger would be money. since moneys only use case is to represent value, this is the only use case for a token in a closed system.
blockchains can only be used as money. since bitcoin has won the race long ago and by far, it is utterly useless to create, invest in, waste time on 7500 additional money protocols.
money pegged to energy is the only way to go. unpegged money will get printed into inflation. gold pegged money will always first lose its peg and then will get printed into inflation. our fiat money system derived from a gold pegged system, the dollar is a layer 2 scaling solution for gold.
the 2020ies will bring the transition. don't be scared. bitcoin is great and will save us.
edit: typos
You said it very well. I've mentioned the same on this thread many times over the years...if you think deeply and philosophically on this point, you'll soon realize that beyond Bitcoin TM there is no reason for any other cryptocurrency to even exist. Therefore the thousands of shitcoin projects out there will ultimately prove completely meaningless. Those that believe otherwise are in complete denial of the truth. Hopefully this will become more apparent with time. |
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Honestly, I hate graphs like that tell people there will be a period where it's "too late" to buy bitcoin. It never has been, nor ever will be in the future, too late to buy bitcoin. If it is ever "too late" to buy it, then it ceases to be a store of value, or even worthy of being transactional. |
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HoDLing Bitcoin and getting rich because of it is not luck. Luck is when you buy a lottery ticket for $2 and win millions. Luck is when your father is Jeff Bezos. Luck is when you inherit some lost uncle's fortune. Luck is when you happen to be outside when the building collapses. When you are a normal person, with a normal job, and you risk investing your savings (which took years of hard work to accumulate) in Bitcoin, and slowly build up your stash by adding to it whenever you can, and HoDLing strong through years-long bear periods, all because you believe in what Bitcoin stands for, and see how disruptive and revolutionary this thing is, and then it goes to the moon and you become "fuck you" rich, then, no, it's not luck! It's using your brain and your ability to see the future, not because of some supernatural ability, but by believing (or, even better, understanding) the tech and the mathematics & science involved. This is who you are, HoDLers: Edit: Corrected typos.The thing that really gets my goat (annoys me): being called "lucky" by the few friends of mine who know that I hold btc, the same friends who I told about btc years ago and who decided to invest.....nothing.
If they could understand (or even care to listen), they would learn that there is nothing lucky about sending most of your net worth to a random bank account in Japan (Mt. Gox) not knowing if you'll ever see it again, hodling through multi-year deep bear markets, watching your net worth collapse before your eyes, knowing that it could be years before recovery. That kind of hodling requires a strength of mind infrequently seen amongst contemporaries, coupled with an understanding of btc fundamentals and a realisation of its potential to disturb global finance.
So, if anyone calls you "lucky" for having bought bitcoin and profited, just smile, knowing inwardly that having come through the great bear markets means you're one of the most resilient of them all, and one of the most deserving. Btc rewards those who stay the course.
Congratulations fellow btc adventurers - our time is just beginning. And don't feel bad about taking a little profit here and there. You deserve it.
Fuck yeah!
In my lifetime, I have encountered essentially 3 types of people when it comes to investing. 1) People that will never invest in anything. These are your family members, friends, colleagues, etc. that whenever the topic of investing comes up, constantly moan about "Shudda bought Apple back in the day", "Shudda bought Microsoft 30 years ago", "Shudda bought Netflix back in the day", "Shudda bought Amazon", "Shudda bought Tesla", and on and on. They moan about missing this boat or that boat. They lack the conviction, the funds (savings), or both to actually research and invest in something. All the while, they continue to make themselves more poor by buying little useless trinkets, clothes, jewelry, alcohol, drugs, food at restaurants, lavish vacations, things for their car/house, etc. instead of actually investing. They nickel and dime their lives away. They barely have any savings at all. They will call any true hodler that got wealthy "lucky". 2) People that get the "investing bug", but are really just glorified day tarders. They put the minimal amount into a hot, trending stock or asset, and will hodl for all of about a month or two. Or mere weeks. Once the investment goes up 10-20% they sell everything, or if it goes down 5-10% they panic sell everything. Some will do this only once or twice, and with either a small profit or loss, will go back to normal life and declare that "investing is not for them". Others however will be gluttons for punishment, and will do this over and over, eventually losing everything. These people could be your family members or friends as well. 3) True investment hodlers. That would be us, the people you described above. This is a VERY small club. The people in it have balls of steel and bat for the moon. They will DCA in, buy every significant dip, and hodl for years and years. Your friends, family, colleagues, etc. are almost never in this club. |
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