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All happy about $8k including yours truly. Even spotted a CCMF by a post CCMF era member. It shows how well we got trained into submission.
Hold your memes gentleman, we need them for >$16k.
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Just putting this here for future reference because of the cute market cap. https://twitter.com/blockfolio/status/1255122392843722754BREAKING: 2,000 blocks until the halving.
In a decade, 31,000 lines of code and a 9-page paper has grown into a network secured by 110 exahashes per second, 10,000 nodes, $142 billion in value, and about to cut its inflation rate lower to that of even gold's.
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https://www.forbes.com/sites/justinoconnell/2020/04/24/inside-blockchains-coronavirus-hiring-spree/Kraken is preparing: As covered in March by Forbes.com, Kraken, the San Francisco-based cryptocurrency exchange, is also hiring. The company originally planned to hire 250 people in 2020, largely due to the upcoming bitcoin halving. As coronavirus led to people looking for alternative assets, Kraken bumped that number to 350, and moved up their hiring timeline. According to data provided by the exchange, signups grew 39.5% in March month-over-month compared with February, while average daily signups for March were up 61% compared with January.
“The traditional system seems to be completely breaking down all over the world,” said Jesse Powell, co-founder and CEO of Kraken. “So, increased customer demand is going to mean increased business for us, and it’s going to mean increased hiring.”
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Re: Mindrust and co.
Emotional investors are and going to act emotionally. And that is probably the majority of retail investors, I am sure many more got burned playing the recent stock market volatility.
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I think the main difference between you and the plebs JJG, is having more than one bitcoin. New bitcoin collectors need the price of a bitcoin to be much higher to make any big consumerist dreams come true (a fancy car, bigger house).
There will likely be selling pressure between $10k and $25k of people wanting to get out or having a large stash and need to diversify. Beyond that there might be a big vacuum: high new demand but little supply.
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One day we have to revise the topic of this thread to XBT/XAU. Observing the USD devalue gets boring, obvious and gives a fake sense of increased wealth.
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https://blog.bitmex.com/inflation-is-coming/BitMEX Research 17 Mar 2020 Abstract: We evaluate the impact of Coronavirus on the economy and financial markets. The response to the virus will mark a significant economic regime change, from monetary policy to central bank funded fiscal expansion. Eventually, there will be one clear winner under this new regime: inflation. Economic circumstances could look like the 1970s, with volatile inflationary expectations. This regime change and inflation will be something financial markets find difficult to tolerate. In this environment, Bitcoin could be given its biggest opportunity, in its short lifetime.  I feel like reading financial news looking for guidance these days is like flipping a coin. https://cointelegraph.com/news/experts-predict-deflation-there-goes-bitcoin-narrative-697It’s interesting to note that inflation in the US actually fell 0.4% in March to 1.5% — and many believe that inflation will only go down from here. New York Times Senior Economics Correspondent Neil Irwin wrote this week the negative oil price was a sign the world is in “a deflationary moment".
“The Covid-19 crisis is an extraordinary deflationary shock to the economy, causing the idling of a vast share of the world’s productive resources,” he wrote.
When panic there is a flight into the most liquid and stable asset: USD. So short to medium term dollars are in high demand, countering the massive money printing and perhaps even causing deflation. Longer term the demand for those dollars fades. People want to again invest to grow their wealth, which should reveal the real impact of brrrrr: (hyper)inflation. |
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https://blog.bitmex.com/inflation-is-coming/BitMEX Research 17 Mar 2020 Abstract: We evaluate the impact of Coronavirus on the economy and financial markets. The response to the virus will mark a significant economic regime change, from monetary policy to central bank funded fiscal expansion. Eventually, there will be one clear winner under this new regime: inflation. Economic circumstances could look like the 1970s, with volatile inflationary expectations. This regime change and inflation will be something financial markets find difficult to tolerate. In this environment, Bitcoin could be given its biggest opportunity, in its short lifetime.
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another fact
I never make losing [bitcoin] trades
Me neither. Now everybody new likely wants to know the WO Scam Secret how to do so. It is easy but also very hard, many are or will be tempted to deviate from The Strategy. Will refrain mentioning any names but painful lessons can be learnt reading this entire thread since Adam started it a little over seven years ago. It will only take you about 100 days to read according some statistics I keep track of. In case you have a little bit less time than I do, it can fortunately be summarized: Buy and Hodl. |
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https://blog.coinbase.com/flight-to-stablecoins-in-2020-dff5f11118d6$9 billion in stable coins and counting. What can you buy with those? Bitcoins and shitcoins, so a clear indicator of just how much money is sitting on the sideline waiting to buy back in again. You would expect people to learn but it will one day be 2017 all over again. USD Tether has 20x more active addresses than any other stable coin. It is however clear Coinbase, Gemini etc are trying hard to get a larger piece of the pie. Some interesting quotes from the article: - In March, stablecoins have altogether reached ~40% of relative daily value transferred compared to Bitcoin and Ethereum
- Ethereum’s native value transferred has dropped significantly compared to Bitcoin. Many stablecoins however currently operate on Ethereum’s blockchain.
- stablecoins can be programmatically borrowed, lent, and used as collateral.
(this is big, you get way more interest than having those dollars in a bank account)
- stablecoins’ established use-cases: as a hedge against cryptocurrency volatility and as a bridge between exchanges.
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WTI -7.1 May WTI on CNBC
WO stays cocky, but what if someone (cough-Medallion-cough) will play with bitcoin futures like this.
Looking at silver: there will be a huge spread between the delivery of paper bitcoin and physical bitcoin. I don't really understand any of this. Who, if anyone, can buy oil at those extremely low and even negative prices? What does it mean?
“Fugayzi, fugazi. It’s a whazy. It’s a woozie. It’s fairy dust. it doesn’t exist. It’s never landed. It is no matter. It’s not on the elemental chart. It’s not fucking real.” |
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Even without the recent oil prices into negative territory (!), the declining energy price gives an interesting twist to the upcoming Bitcoin halving in May. Under normal circumstances the price of a bitcoin needs to roughly double for the miners to remain profitable after the halving (assuming the same hashrate). $/kW are one of the few constants.
But the oil prices have more than halved this year. Because of Covid-19 there is no demand and Russia and the Middle East oligopoly are having a conflict: from >$50 to <$20 per barrel.
If these oil prices remain it could dampen or even nullify the effect of the upcoming halving on the bitcoin price.
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Chinese New Year in 2021 is the year of the Ox (effectively a bull, right!)   ...and the current year is the year of the rat. Hm. Hrm. HrUUUrm... Rats are very good at surviving  Andreas Antonopoulos: Bitcoin, the Bubble Boy, and the Sewer Rat https://youtube.com/watch?v=Rw8W92iIHZ8 |
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 Saving in #Bitcoin creates a virtuous cycle that enriches its holders and simultaneously reduces demand for inferior stores of value like fiat currency and gold.
In this sense, holding #Bitcoin is contributing to a global charity mandated with the separation of money and state. https://twitter.com/Breedlove22/status/1251309365337960452Never really been a fan of this argument, since it works the same in the opposite direction (vicious circle). Hence the boom and bust cycles. You need to both understand money and bitcoin to a certain extend to be able to see why it has (long term) value in the first place. |
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