Just because we are talking about walls and BTC price movement in the short term, does not really mean that we give too many shits about short term BTC price movements - or that we are not keeping long term likely UPpity in mind.
There is no need to get all UPpity JuanSnowGee. The UPpity will come at its proper time and place.
You are participating in those same conversations and talking about what you believe about UP or DOWN in the short term, so shouldn't we lump you in the same category regarding what your concerns are because you are regularly posting about such?
No.
There should be no lumping what so ever...especially if I am the lumpee. I will however concede that I much prefer to be the lumper rather than the lumpee if we are going to have lumpage of the unwashed masses.
Of course, similar with traders, there are going to be all kinds of variation within any identified group, so yeah you are entitled to having your doom and gloom theory about miners potentially being over extended, even though I do not really buy that theory, personally.
I am unsure if my statements...or theory as would have you, qualifies as something that falls into a doom and gloom scenario.
I believe that miners have overall been profitable, and sure they can hold back some coins in order to speculate on the BTC price going up, and likely they have always engaged in some conduct, but the longer and longer that bitcoin is in business the more and more the dumber miners have been getting screened out, and the more and more that miners have figured out ways to meaningfully balance their approach to cash out from time to time and also to hold back enough coins to speculate.
I believe this as well. If said miners tend to follow sound business practices and withhodl 3 to 6 months of operating capital for just in case, such capitulation theories become moot.
I doubt that the bitcoin space is getting less and less stable with the passage of time, even though BIGGER and BIGGER players continue to come into the space and attempt to throw larger and larger capital at the situation to attempt to get their way, but in the end, we are seeing longer term (you like long term, right? chart patterns that are seeming to show 4 year fractal and even the stock to flow model to be almost too eerily close to being 100% spot on...
Yes.
Yeah, I am not going to proclaim that the BTC price is guaranteed to continue to follow those 4-year fractal and stock to flow model patterns, but they continue to serve as some of the best predictors in spite a lot of the maneuvering and dickering around that either BIG money does or even crazy ass shit in the macro financial space.
This seems wise and I reluctantly agree.
So for example, let's say we get a hundred thousand BTC dumped over a variety of exchanges and BTC prices drop down to $6,500 again, how long is that drop going to last? I will believe it when I see it. I am not suggesting that it is NOT impossible, but largely we are seeming way more inclined for UPpity than DOWNity, currently, even if we experience a few more dumpenings of coins to attempt to shake out some more weak hands, but if even the weakhands are not being shook, then I suppose that they are NOT fitting in the definition of weak hands.
Personally, I would not mind witnessing of shaking some of the ethereum and some of that defi bullshit smoke and mirror froth.. those areas seem way more vulnerable than speculative seemingly lame-ass theories of purported BTC miner capitulation. Roll Eyes Roll Eyes Roll Eyes
Stronghands are not shook...ever. I thought you knew this JuanSnowGee.
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