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Given the centralization and difference in security (e.g. that provided by miners) on bitcoin vs most (all?) other cryptos this isn't surprising. What is surprising is that it isn't higher.
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It seems as if this type of transaction makes more sense on layer 2 and one would think he would know this. Seems as if he is looking to stir up trouble where there shouldn't be one. With any large amount of usage, blockspace will be at a premium.
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Always good to see it happen again! How time flies.
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The people running these government departments like no definitions, unclear definitions or all-encompassing definitions of everything so as to amass more power.
It will be of little avail to the people, that the laws are made by men of their own choice, if the laws be so voluminous that they cannot be read, or so incoherent that they cannot be understood: if they be repealed or revised before they are promulg[at]ed, or undergo such incessant changes, that no man who knows what the law is to-day, can guess what it will be to-morrow.
James Madison
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"Don't invest what you can't afford to lose" I remember seeing Reddit pinned suicide prevention numbers for each country after a wave of desperate investors And I've read long ago a professor of psychiatry saying people can easily have a psy problem with digital finance. He drew comparisons with online gambling addictions and it starts when people check almost everyday their bank account with smartphone. crazy world the people are in such a state of fear and distress that they could fall into any kind of madness Exactly. Nothing is worth killing yourself over. Life is precious, worth more than any financial asset. RIP to the family. |
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What should we expect? Probably not a lot. Kind of like all of them. :-)
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FalconX‘s Research Director David Lawant discusses the changing role of Bitcoin halving events on market dynamics on social media platform X. Lawant’s analysis challenges the traditional view that halving events directly and significantly impact Bitcoin’s price. He also highlights how a broader economic and strategic context can influence investor perceptions and market behavior. Read the full article here: https://en.coin-turk.com/exploring-the-impact-of-bitcoin-halving-and-miners-on-market-dynamics/To argue that cutting new supply in half doesn't impact the supply and demand curve is ignorant. Whether it happens instantly is an obvious question since no doubt there are plenty of people holding in anticipation of a jump in fiat price before taking a short term profit. Over a longer period the decrease in new supply of $30 million (or whatever) clearly will make a difference. Obviously other factors come into play, a huge number of them, but this isn't some new insight. |
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He isn't wrong. For many of the benefits of bitcoin, actual transactions, pseudonymous transactions, censorship resistance, protection from governmental "haircuts" (as in Cyprus 2013), capital controls (e.g. in Venezuela and many others) etc an ETF doesn't help at all. To realize the gain in fiat price as people realize the uses then it isn't too bad, but you run the risk of them not caring for the keys.
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From what I recall when there wasn't a huge jump right away, some (without foresight) people sold and then it took a while to come back to new highs. I think that it seemed that shortsighted people seemed to expect an immediate jump, then when it didn't immediately materialize they took some profit and then missed the bigger gains over the last X years, depending on when it happened.
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She isn't wrong. I presume she has other reasons too, but this is a good start! Given how payment processors (Stripe and PayPal for example) cut off Trump from their networks a censorship resistant form of money is critical.
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Is this the wrong advice? A friend of mine took over his father's company because he is so old already and he told me about the money thats available doing nothing in the bank.
I told him to think about investing that money if he wants to keep the company growing, I told him about how MicroStrategy is doing so well using Bitcoin as a strong backbone of the company, I believe that even a small company can turn big if they use Bitcoin as their main investment.
Or am I wrong? I need to know if this advice is a good one or a bad one, I gave him this advice because we are very close and also because I will do the same thing if I am in his shoe, this is the best thing i can think of right now.
Where is he located? People in Cyprus in 2010-early 2013 would've done well to put their money in bitcoin, not just because of the MSTR effect, but because they locked down the banking system in March 2013. Then stole a huge percentage of their assets. (They called it a haircut, but it was theft.) Bitcoin would've preserved their wealth. Is your friend in a country with high inflation? Capital controls? Statists (socialist, communist, dictators etc) in control? So yes, he could have a good use case. Not to mention the potential for appreciation. |
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With the ATH that we have today, $100k is realistic though it may not be happening immediately. As for $1M, it going to take a long while, and I am not sure if right now I can speculate how long it’ll take. I Bought my First Bitcoin at $30, I then Sold at $1,000.
I tell people that it is almost impossible to hold Bitcoin from the onset and have access to it but intentionally decide not to sell. Who wouldn’t want to sell something they bought for $30 when the new value is about 30x gain. I am glad you said "almost". Compounding can really pay off when you have patience. Think about this: I read that Warren Buffett had about $1.5 billion in his mid-50s. Respectable for sure, but if he had died at 60, few people would've known his name. With 120 billion now, he's made most of his money from 60-93. It is similar with bitcoin. Sure, going from $30 to $1000 is great, but going from $0.10 to $70000 is even better. With the US ETFs, halving, Hong Kong ETFs, layer 2s, insane spending ($1 trillion in new debt every 100 days for the US) etc, the future looks bright for usage and eventually fiat price reflects that. As far as price goes, an order of magnitude or two (perhaps even 2.5-3) is easily possible over time if demand continues, new supply is halved, and less supply is coming on the market (e.g. from GBTC related sales for all the reasons that have been discussed elsewhere - fees in GBTC, FTX etc nonsense etc). |
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Yes, Robert can make statements like this.. when the Bitcoin price is flying high... but the Bitcoin price is very volatile and we have seen scenarios where people bought at a all-time-high and then it crashed and took 3 years to recover.
A lot of people might want easy liquidity and you could be forced to sell during a crash or after a crash and that will put you in a very bad situation. Bitcoin is a long-term investment option and you should only invest money that you will not need in the short term. (Look at it as money in a long-term Bank deposit that you cannot touch for years)
Exactly, this shouldn't be something you need next month. This is something that could take a while to become profitable. However, pretty much everyone who has ever owned bitcoin before 2024 has a profit now unless they just bought in the last few weeks. It is just a matter of understanding the fact that it is volatile and not something to rely on next week or next quarter. |
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This is not new at all and it always let us know that we should use low leverage and nit to be greedy in trading.
I would take it a step further and say that you should use no leverage at all. It's obvious that these leveraged traders are how exchanges make a ton of their money these days. I wouldn't even be surprised if they all had some back channel discussions about leverage and how to work together to clear it out on days like today when both longs and shorts get destroyed. I wouldn't even be mad at them. They have the data and aren't breaking any rules (that I know of) to simply trade the price up and down together to liquidate their users. It's probably doing the rest of us a service, as people typically don't want to hold an asset for a decade and get outperformed in a day by some wahoo with 1000x leverage who went long at the right moment. Yes, the market can be irrational or can be manipulated longer than you can stay liquid if you are leveraged. It just seems crazy to be using leverage right now unless you have a huge bankroll behind you. Talk about making things more complicated than necessary. |
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Certainly this halving will be huge in terms of new supply reduction. Once Grayscale holders stop selling that will reduce supply coming on the market which can only help. The question is: how much will be sold? There have been plenty of reasons - the higher fees vs the others, selling gains, plus selling for the idiots who cause the mayhem at FTX etc. I saw earlier this week that someone said if selling continues as it has been GBTC would be out of bitcoin by July. So that would seem to indicate that at least by then and probably well before, the huge selling pressure would taper off.
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I wouldn't have said this but I am much more concerned about the fact that we have been hearing so many people talking about holding Bitcoin for the long term and never selling. I find it so confusing that after investing so much in Bitcoin for years we won't want to sell our bitcoin till we die.
I've been buying Bitcoin since last year when it dipped in December i know it's not long. Since then I have held my bitcoin firmly regardless of the price increase this year I still decided to sit on it. Although I do not have enough Bitcoin because I have little money then if I were to sell my holdings now I would have 3 times of I invested.
Also, I have the belief that Bitcoin will keep breaking new ATH forever. Should I leave my Bitcoin forever without selling it or set a goal that I have in mind and when it reaches that goal I sell and take my profits?
What do you do?
On what principles guide your actions in the realm of Bitcoin (BTC)?
One point is that eventually you won't need to sell bitcoin, you can transact in it without having to cash out into fiat. That is a few orders of magnitude away from here though. Holding it is even more important for those in countries with very high inflation rates or the prospect of currency controls etc. In other words, it is smart for everyone to have some. |
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Not just Ripple, but Greenpeace itself. The fact that Greenpeace isn't honest and doesn't like bitcoin is really no surprise: Greenpeace has never been a fan of freedom and has long been a toady to authoritarians, statists and totalitarians around the world. They love the surveillance state because they can use it to control everyone. I don't think anyone seriously expected them to have an objective, balanced report on bitcoin given that bitcoin is a tool for freedom and not for authoritarians.
Ripple, Ethereum, etc are all centralized, non-censorship resistant, pseudo-crypto that don't provide 90% of the benefits of bitcoin.
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This is really no surprise: Greenpeace has never been a fan of freedom and has long been a toady to authoritarians, statists and totalitarians around the world. I don't think anyone seriously expected them to have an objective, balanced report on bitcoin given that bitcoin is a tool for freedom and not for authoritarians. They love the surveillance state.
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One problem with owning bitcoin in an ETF is that liquidity is limited to U.S. market hours. So if the market crashes overnight, you have no ability to sell until the U.S. market opens for trading in the morning. Very frustrating to watch helplessly with no ability to get out.
Bitcoin ETF is not bitcoin but what that is pegged with bitcoin price. Just like other people have said, if you do want to trade your coins at anytime of the day, be it day or night or weekend, you can go for bitcoin and not bitcoin ETF. Exchanges are opened 24/7. I am not saying you should leave your coins on the exchange. You can send it to the exchange when you want to trade it or make use of a decentralized exchange. Yes, and it is the same for GLD and other ETFs (and individual stocks and bonds): you are limited to market hours. This isn't a big revelation from Schiff. Sure if you have physical gold, you could go to a pawn shop, but you'll be paying a big premium to do so. |
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Patrick Breyer, a member of the European Parliament since 2019 and part of Pirate Party Germany, voted against this proposal, explaining that it might have negative repercussions. Breyer stated: We have a right to pay and donate online without our personal transactions being recorded. If the EU believes it can regulate virtual currencies at a regional level, it hasn’t understood the global nature of the Internet. Those guys are stuck in the Piratebay era. For a guy who was supposed to know enough about crypto, economics, and regulations in the EU he should have understood the difference between personal payments and payments that are the result of a binding contract. You can be the rebel you want but if the guy that sells you a car takes only a bank transfer that's it, this is not about hiding your identity, it's about someone now servicing you without knowing your identity! If that phrase is his best take on the issue no surprise he was the only one to vote against and couldn't convince anyone else to do so. He is right though even if that wasn't perhaps his best take. You should be able to send someone money without it being recorded by someone else. Anonymity was important in the US in 1776 when they were fighting the British and is just as important today: without being able to fund speech that someone might disagree with, you have little free speech. Look at the US where the President had payment processors shut off because the powers that be disagreed with him. If it can happen to him, it can happen to anyone and everyone if they have an unpopular opinion. The EU is a surveillance state and no friend of liberty. |
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