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@JJG...my main point is that "money interests" (PTB) are LOSING in the current system, even when, on the surface, they are able to have some meager returns.
By fully accepting Bitcoin, EVERYONE wins, including those entrenched parties.
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One thing that miffs me a bit after so many years is why the legitimacy of bitcoin is still being discussed and attacked so many years later.
Compare with internet: in 1999-2000 it was already clear that Internet would support many kinds of businesses and since then nobody (or almost nobody) opined that "we gonna tax that 'evil' internet or declare that it consumes too much server power".
Short answer 1: Not to be snide, but either you are very young, or you have a short memory. The way you said that—LOLWUT? Of course, there was and is plenty of hyperventilating about the “evil Internet!!!!” The Internet ignited political firestorms over free speech, among other issues. Remember the Blue Ribbon campaign? "not to snide"...proceeds to snide, lol On the subject: political storms about Internet (which I am aware of) have nothing to do with interfering in the ability to form large businesses on it. Contrary, in the case of bitcoin, there is a lot of effort to prevent bitcoin from truly flourishing. For example: efforts in EU to "ban" POW or NY to ban mining that uses hydrocarbons; China almost completely banned everything but the ownership ffs, etc. You compare things that are very different in nature. Sen Cruz is right on that, don't be cocky and think that it is all hunky-dory. It is not. However, bitcoin might still have the upper hand in the end. |
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Everybody get the price of bitcoin they deserved.
If you figured it out in 2011, invested a lot, held and wasn't devastated by MtGox, etc, kudos to you.
There are probably only a few hundred to few thousand people like this in the world.
Most of these people do not post here, I assume, with a few exceptions.
Some people, like CZ, started later, but made much much more than a pure hodler because they run a business that emphasized the trend.
One thing that miffs me a bit after so many years is why the legitimacy of bitcoin is still being discussed and attacked so many years later.
Compare with internet: in 1999-2000 it was already clear that Internet would support many kinds of businesses and since then nobody (or almost nobody) opined that "we gonna tax that 'evil' internet or declare that it consumes too much server power".
It seems that bitcoin is much more contested, which was a real surprise to me in the last two years.
I cannot think of any argument in favor of fiat world with constantly losing purchasing power from wages, year after year after year.
There is a need for a factor that balances this and this factor is clearly bitcoin.
Do we have an alternative that can potentially save us from the effects of inflation?
Apart from bitcoin and gold, we don't and gold has it's own 'problems'.
EDIT: RE can protect in a stable inflation, but cannot in the rapidly rising inflation because it is a leveraged purchase and your buying power is devastated by the higher rates. Therefore, current homeowners, who bought houses at 2-4.5% interest, might not be able to find buyers (presumably) at higher prices when interest rates would be 8% (which they should be already).
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Riddle me this:
If stonks are going to be "bad' and bonds as well, plus RE would "crash" or at least flatline because of high (upcoming) interest rates...then why PTB are STILL reluctant to put the truly big money in bitcoin?
I cannot see any other "escape" route for capital rn.
Maybe gold as well, but bitcoin is 100X times better in almost everything.
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IMHO, the fast falling out of 39K-48K range to the low of $25.5K was the equivalent of 2018 move from $6-6.5K range to $3.2K.
The fact that it was smaller % could be explained by the fact that we did not have a blowoff top and instead had a relatively puny 3.2X entension (expected number from prior numbers and following diminishing returns trajectory was 8X or about $160K).
Of course, this is just my musings on the matter...anything could happen.
OT: SPY calls are doing great, about tripled already, bought a few AMZN and GOOGL for a presumed run (both are splitting 1:20, LOL), just a trade.
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BREAKING | Johnny Depp wins defamation trial against Amber Heard; Court Awards Johnny Depp $15M 497.05 BTC in damages in Defamation Case Verdict
Finally some justice in this otherwise dark world. 15 to 2 reduced to 10 to 2 My wife and I watched a lot. I wanted more like 25 mill to 1 mill or 25 to 1 but they clearly sided with Depp. If she appeals he can simply say rather than disgrace the true why me women in the world I will do no contest on the appeal give her the 2 mill and donate 7 mill to the 2 charities she stiffed along with giving 3 mill to real women victims of abuse. Amber is pretty much dead to the world and should crawl into her hell hole and shut the f up. fini bitch. I think that he is now employable in Hollywood again. Maybe not with all directors, but certainly most. It's probably worth more than anything else. I am glad that there is some sense still out there and you cannot win by just crying. I only watched a few of youtube snippets, but it seemed to be enough. still bullish on bitcoin...we shall go to that 38-42K, then see. |
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I am not as fond of Cruz, although he is smart.
It was readily visible when he was debating Beto last time.
I like his bitcoin views, though, as dems bitcoin policies were a huge turn-off lately.
As far as politics, Houston and DFW are probably canceling each other rn.
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go Bitcoin only. It really looks like a Kid tried to draw something with a colored pencil and erase it with a rubber (except BTC). This is a good picture of how Shitcoin is riding the roller coaster with people. #Hodl #Bitcoin-is-Freedom I agree with the sentiment, but it is a bs story that includes the early batch of alts. Eventually, it might be proven correct, but not yet. Not going to give examples since this board is about bitcoin. |
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Somehow, most people are indifferent to getting no interest.
It would have been an outrage in the 70-ies or 80-ies or even in the 90-ies, but somehow become acceptable.
An anecdote: I opened my first online brokerage account in 1997.
Do you know what was the interest on cash in my account?
4.75%, lol (with inflation at 2.3% back then and fed funds rate at 5.46%)
Now-ZERO (or some infinitesimally small number with inflation at 6-8%).
This does not make much sense.
Yes, i agree that 5-6% "bleed" in 12 mo is an uncharted territory.
I also saw a chart that shows 16% year-to-year decrease in income.
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... I am not unsympathetic ...
Fixed that double negative for ya Jay... Learn English. A rhetorical double negative is not infrequently used to convey subtle shades of meaning that the simple positive does not. For example, substituting “frequently” into the preceding sentence makes it wrong. It is not frequently used—but it is not infrequently used, either. A bit harsh, maybe, definitely not called for, imho. As to the point in hand...it does, indeed, happen...for example in the "Billionaire" series there is one repeated key phrase: "I am not uncertain". That was some kind of a signal between the parties involved indicating that some things are happening for sure. It (double negative) feels like a stronger statement, but I am not sure why. |
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We can finally see some green! Well, this was predictable after 9 (10?) weeks of red. Not a real pump yet, but hopefully we'll see some $32-33k soon.  So, is this a: * relief rally to $38-42k? * mighty bull starting back to ATH? * weak dead cat bounce to $30-32k with moar pain following? I'd go for option 1. A relief rally to ~$40K levels with good potential for ~$30K levels to hold therefore. Notably once Bitcoin leaves <30 RSI "oversold" levels on Weekly time-frame, it doesn't return thereafter. Even with price often returning to similar closing price levels shortly after (so in this case around $29.5K), price historically has never made a new low after leaving these oversold conditions. For what that's worth. Either the above or option 3, with a bit more downside in the following weeks to the anticipated 200 Week MA @ $22K. But this seems overly-anticipated right now imo. I otherwise don't think there's any real resistance between $32K and $40K levels. $34K would have been the theoretical resistance, but given it didn't act as support on the most recent way down, I doubt it would be resistance on the way back up either. Despite thinking the bottom is either in, or close to it, I don't see a bull market this year at all. More likely consolidation between $30K and $60K. Similar to in 2019 when Bitcoin went from $3.2K to $14K and most were convinced that the bull market had started, until price re-tested $4K levels. Even ignoring that covid crash, price still took a year to consolidate back to the $10K levels, and had already dropped by 50%. Think I mentioned it before but wouldn't be surprised to see price return to $50K to $60K by summer, before re-testing $30K again by the end of the year, maybe the 200 Week MA will be around this price by then. This is mainly due to Weekly moving average bearish cross-over which Bitcoin has always been very respectful of, ie showing that price is moving up too fast after a drop and needs more time to consolidate. Also will give all the noobs the opportunity to buy high again after selling low, before price drops upto 50% and the bull market starts up again. Ie the usual recipe for another uptrend. Great analysis. I also expect a bounce (could be to the middle of 30K-60K range or even up to 50K or slightly above as you mentioned), but then consolidation to the $30K (or slightly below) area. I might even trade some for the first time since 2017, essentially. EDIT: I am surprised that we already moved to RSI(14)=46 (from 23 on May 11) with so little price improvement. |
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A nice dose of long term hopium from the guy who has 77% of his non-equity in btc and 80% of equity in one stock (Tesla). Talking about a concentrated equity position: https://www.youtube.com/watch?v=IicMOgLn9BkPersonally, I have an investment rule now (after the 2001-2002 fiasco) that I NEVER invest more than 20% of my capital in anything. However, I don't re-balance my winners, like bitcoin. TL;DR The guy says that his 2030 "bearish" scenario is about $514-576K/btc, middle-about $785K-1.55 mil, most bullish- $3.5 mil |
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Did you know that? I am a SHRIMP  How many Humpback and Whales are in WO. I don't think anyone wants to reveal it. xD.  Source: PinterestAs i mentioned before, this analogy is total BS. It was funny in 2013, but not anymore. Why? Because there are 515000 whales in the world (80000 humpbacks, 10000-25000 blue whales). Compare this to bitcoin distribution: https://bitinfocharts.com/top-100-richest-bitcoin-addresses.htmlAccording to the data in the table, "Whale" is about 5-20 BTC (significantly less than 100). 20-100 BTC is a "humpback whale" 100-1000 BTC are 'Blue whales', the largest animals on earth (which are 10-25 thou in number) above 1000-only about 2200 wallets in total (maybe Shai Hulud from "Dune"-there is NO largest animal on earth that is so rare). Of course, this is based on the wallet size only and people could have more than one large wallet too. Proposed New categories for the largest: 30-100 BTC "Whale" $1mil-$3mil currently (mostly corresponding to "humpback whale" in numbers). Regular whale could be as little as 5 btc if you compare numbers, but let's be conservative. 100-1000 BTC "Blue whale" $3-30mil currently. 1000-1mil BTC "Shai Hulud" $30mil-$3bil |
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not in US, we are currently green for the week if the count is by 11:59:59pm ET. If the count is by UTC, then, sure. |
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chooo...choooo.. $30130 $30174 Drinking the green wine certainly had the desired effect  wow: it is my post #8888, supposed to be a "positive" number in some cultures. good times... |
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New all-time high in addresses holding more than 0.1 BTC. 3,524,232 addresses! LFG!  ^ ...indicating decentralization, I guess. Naturally, the total number of addresses holding>0.1 BTC would reach a plateau at some point. I would be surprised if such plateau would be above 10mil wallets, maybe even 5 mil...it seems like an S-curve that is about to 'bend' even more. |
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I've read that the Japanese don't even fk anymore. Something something androgynous beta soyboys and uninterested Harajuku manga girls. I think their society might be doomed. Whatever happens in japan, happens in 20 years in US/Europe (to a degree). Example 1: interest rates at zero. Japan -from 90ies, US 2010-2018, 2020-2022 and maybe 2023-? Example 2: manga (japan-10-20 years before, pretty much everywhere now) Example 3: less interest in real sex (starting to occur in US as well based on the anecdotes I hear). Fapping to Onlyfans doesn't count. |
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The elevated long leverage mixed with the overhanging ETH locked in 2.0 and the mtgox coins are still keeping this market down. The support at $28K is looking more and more exhausted as it continues to be tested. I think there's a strong likelihood that the price will retest the recent lows in the $26K range. Hopefully that will liquidate some of the long leverage and bring the market into a healthier position to begin building support for the next wave of BTC to crash down onto it.
There is no evidence so far that the support is exhausted, but, sure, it could go either way. Specifically, I am not sure how eth "overhang" affects anything rn (it doesn't). It could affect something in Aug-Oct, but not beforehand. |
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