it all depends on what legislation and what crowd you want to invite

everyone is ok with consumer protection legislation. that insures or protects users from massive losses.. however legislation that limit consumer access/utility is not good. or where legislation puts in barriers of entry for people to set up businesses or be involved in the infrastructure/backbone of a industry.

i get it that having an ETF means that greyscale(DCG) can start offering 'shares' to the pensions industry. which means then buying up huge baskets of bitcoin to put into ETF trust s as collateral against those shares..

but to open it upto jurisdictions like the CFTC/EPA to get that consumer base. also means the CFTC/EPA then get to set rules on bitcoin businesses such as asic farms.

yes bitcoin as code has no ears or eyes to care about fiat laws.. but the business at the edges(included the corporate sponsored developers) then get pressured into complying

bitcoin as a peer to peer currency could and should decentralise more, less sponsored devs at the code side.. and less centralised exchanges and mega asic farms

bitcoin will always survive. for instance if USA/euro regulations on mining quota's are adopted into law. restricting electric utility of locations.. miners would just move to other locations like south america

if regulators pressure the developers to push for PoS. thats a fork. where they can play with their cheap crap fork.
however if the exchanges and devs are combined coerced to brand the PoS fork as the 'main'/actual brand BTC and try killing off the PoW.. then we need to fight this

as for the status of FTX

SBF escaped liability by resigning and putting in a fall guy as CEO before then going bankrupt. so SBF escaped blame legally

when it comes to the company assets by this i mean customers losses.. i feel that the stakeholders that have ownership stake in FTX should be liable.
by this i mean if the stake holders took profits in the good days from FTX they should put money back in at the bad days

they are afterall owners of FTX.
i personally would love to see DCG make FTX customers whole again.. instead of syphoning off the good assets over the last couple years as stakeholder profits

bitcoin does have underlying value supporting it. meaning there is a non-zero bottom everyone on the planet eventually refuses to go below

even with all the exchange drama of liquidations  and earlier year collapse of sidechains. bitcoin has shown a good support above $15k

if you work out the cheapest mining cost on the planet this year. this again is $15k. meaning the cheapest costs on the planet to acquire bitcoin is $15k. and no one wants to sell at losses below this

yes the market price above this underlying value line is speculative where people pay a premium above minimum due to personal circumstances.

...
however other coins market prices are very much speculating a a very high premium far far above their own underlying value lines

ETH for instance has a underlying value line of under $40 since it flipped to PoS
however the price is $1.2k. which shows alot of premium/speculated hype compared to value

if you look at the market wiggles of speculation. you see the shape of the line following near the shape of the line of bitcoin.


this means ETH is propped up and speculating at an unrealistic high.. and also that its stupidly trying to trace the bitcoin movements

ETH is not moving much due to high usage of its tokenised NFT crap.
where an independent market would have its own wiggles that are randomly different to other markets if a truly independent part of its own utility
(though it does show some variety to the btc wiggles)..


 the fact that eth's markets are showing similar wiggles to bitcoin on the charts. shows that ETH is propped up and trying to stay inline with bitcoin at a ~1:14 btc:eth ratio even though from a value point of view ETH should have corrected to a 1:98 ratio with eth market dropping to sub $100


in short
bitcoins market is very close to value. brushing right against it and a great time to buy.
ethereum is hyped up bubble speculated premium far above value. being propped up by speculators trying their hardest to keep it (kinda pegged) to a bitcoin conversion rate of under 20.. but it cant survive/sustain at this hyped up rate forever

well

the FTX (international) done some purchasing of dying companies for last couple years. which is always a sign of "paper" losses to hide away from paying taxes/hiding profits/assets.. with the asset shuffle game of liquidators (where he was a liquidator of other dead companies)

always a sign eventually the liquidator will have to liquidate to shuffle the shuffle

other things where moving assets out of FTX(international) as personal loans and such. to empty out the FTX(international) of the good assets it acquired over the years from dead companies.. more shuffling of good assets out of FTX

then killing off all the dead wood companies tied to ftx international.
by declaring bankruptcy.. but first him stepping aside so that he is not legally part of the bankruptcy

it appears he is pulling the rug beneath the FTX.us (the public exchange arm) by claiming hack.. but "coincidently" he is not CEO so not his liability

circle and coinbase are both part of DCG. early on they were offering basically the same service but coinbase got the popularity. and so circle concentrated on the sidechain treasury aspect and coinbase concentrated on the the fiat-crypto swap

roger ver was always a bit outlawish. a businessman liking the profits without wanting the taxes and accounting, even if it cost his friends/partners going prison for his business bad practices. and even buddying up to scammers for profit

hearn wasnt anti bitcoin. just anti business pushing their desires onto bitcoin changes that helped business but not the users. he eventually gave up the fight and instead started other platforms/projects to compete in different niches

many devs and prominent people have gave up the fight on/for bitcoin and moved to other projects.

many people only got into bitcoin and left again for profits

my stance of the whole "government" thing is this

senators and congressmen live their professional lives by their 2-4 year contract(voted in period of position)
they are not personally interested and do not sit at a computer watching every citizens daily activities, they are not interested in watching what coffee or chicken burger people buy.
the whole "government is watching your every move" is a dream

it does not matter the currency there will always be "government" but its just a game of which currency can lobby the best, wins
we see this with many nations. where european countries moved to the euro and UK moved out of euro grasp. we see african countries pivot from euro to dollar at a whim.. governments dont care about currency they just want to get paid in whatever is valuable/offered at the time of their voted in position

BANKS on the other hand are a business. and they want to continue doing business..
its banks and financial institutions that collect data on their customers.
they dont like new 'money businesses' setting up new industries where MSB's make more profit but dont have to do all the paperwork.

much like taxicabs and transport regulators didnt like Uber

i dont view the SEC/CFTC as child of senators/congressmen
instead i see them as the mother and father of banks/financial industry

i view SEC/CFTC not as a government department. but as a business..
they lobbied congress/senate decades ago to give their business powers that allow them to parent an industry

setting rules where by you have to buy a licence(membership) to be allowed to enter an industry(pay rent to live in the family). it helps avoid boiler room scammers just setting up shoddy banks. but also puts up barriers to ethical people that want to set up genuine money businesses to compete against the banks(unless your part of the elites)

lets take DCG (coinbase, bitfinex, ftx) via their business connections of their elite social group they get to easily set up exchanges/businesses with no oversight. but they also know the best tax accountants and fiat law lawyers to know the loopholes to escape the costs of doing business, which more common folk dont get this privilege access to

yes senators and congress have a say in what powers and actions the SEC/CFTC have and can use. because senate/congress control the law. but get bribed(ops i mean lobbied) to re arrange the law in businesses favour

decades of bribes and golden handshakes and buddy system allowed these regulators(businesses) to gain power and prestige pretending to be government departments. but in reality business partners of industry

we seen this with the bitlicence . the then head of SEC set up a bitlicence(membership NY businesses had to subscribe to) and once set up he resigned as regulator(job dne) and entered the business of bitlicence adviser taking extra fee's to guide businesses in the loopholes (of the rules he set up) to aid the business buddy system of who should enter the crypto world in NY

the regulators are businesses in of themselves getting money both from treasury to do the good deeds of law. and also the corporate money from business to do the deeds of banks
..
DCG(greyscale) wanted an SEC regulated ETF. but got pushed back. and so DCG and FTX now want to pivot bitcoin away from mommy and daddy SEC regulations and instead get adopted by foster parents CFTC

.. even other regulators like the EPA(environmental protection) are a business. they have powers to shut down farms and tell power companies to not service certain industries..

if you stop viewing regulators as some trump/biden grandchild.
and instead view them as business parents. where by they bribe, beg, coerce or blackmail government(senate/congress) via "lobbying"

you start to see how trying to point fingers with "biden/trump is /was spying on all your transactions" (facepalm)

and instead realise banks dont want competition who has less work but more profits.. the picture becomes clearer

knowing the difference between:
congress/senate (contracted men that like side deals)
paper law (national/state level) which has no arms to punch
law enforcement(idiots who like guns) employed to do raids and punch
regulators (businesses with power) that can call on law enforcement
banks(that fear other financial industries/competing jurisdictions finance)
MSB(lower level less elitist financial services) some are family some are outsiders
crypto code(rules of code) which has no ear to hear paper law and no body to be hit or arrested

you learn the middle guys (banks) are the ones fighting to stay alive.. not the congress/senate
......
bitcoin itself as code if everyone just ran the same code and never changed. would be unstoppable

the "safe" of bitcoin is to not allow any business to coerce or mandate changes to code. not allow businesses to gain power to control the edges of bitcoin where people enter and exit

we need to fear firstly BUSINESSES (like DCG(blockstream devs, NY agreement economic nodes) and their CEO's that lobby to change regulator jurisdiction of the industry over all)

then the regulators whom may gin powers to stifle mining locations or which merchants can startup

then lastly "government" but more so about how businesses (banks and MSB) lobby said government.

rather than thinking that its a top down finger point of government downwards.. its actually the businesses upwards
.. because .. "capitalism" not "communism"

---

congress/senators do not call the FBI/SWAT to do raids on citizens.. thats just bad practice and not good for future election hopes of their career

what happens is BUSINESSES watch their customers and suspicious activity or activity one business doesnt like seeing another business do is reported to regulators.. the regulators then call on FBI/SWAT

..
th electric car industry sees crypto as a threat to the electric availability. if power is going to crypto then people wont want to buy electric cars due to lack of electric to drive to work. so the electric car industry(elon) is lobbying regulators to push hard on bitcoin businesses to be more "environmental"
its not a biden decision top down. its a business lobby middle up

banks dont like non fiat becoming common money. thus there is a push to have crypto only as investment not money. again (middle up)

then there are msb's  they also want to have their other financial products like ETF, sidechains and subnetworks. so they want regulation changes. but dont care about the other effects that can happen due to their selfish wants. heck they have been bribing the regulations middle up.. and also the devs at the bottom..

here is the thing. crypto doesnt just vanish, (true crypto that uses blockchains.)
i do not believe it to be a hack.

much the same like other exchanges where CEOS retire claiming "hack" as the reason they move on

i feel its the management of ftx that syphoned funds out (taking the good assets out) and left ftx as a brand in a negative paper loss position in legal tax/debt law framework. where by just like all liquidation companies that company is left in a debt position that gets write off in a fiat world bankruptcy

knowing DCG is a large partner/stake holder of FTX i wouldnt be shocked if all the good assets turn up in their portfolio sooner or later

anyway i do find it funny how SBF resigned. .. put someone else in CEO status. and hen filed for bankruptcy and now news of a hack.. leaving the new guy with al the legal trouble and SBF able to carry on business as usual with his other projects.

SBF did not go down with the ship. he jumped off ship and in a lifeboat days before the ship hit the rocks

yes user experience of custodial LN is nothing like the experience of actual bitcoin. it has none of the features or functions of bitcoin in any way

as for having a co partner even thats not bitcoin. having to ensure your partner is awake, has value and also his partners can bounce the payment along.. not what bitcoin was invented for..

then there is the lock/pegs.. LN wallets can be abused to show iffy msat values that do not correspond to the hidden commitments and close session amounts users dont see underneath the GUI

sending msats is a vocal, visual and unit measure thats not even in the bitcoin language

and then thre are the flaws and bug and many methods co partners can steal value from you..

but hey. i shouldnt say more or the usual group will chime in to defend lightning like its better then bitcoin

i feel sorry for anyone that is falsely being told they are using bitcoin when they are handed a wallet that uses a different network brand stealing bitcoin

i do not mind people using other networks if it pleasures them. but just be honest about it.. if people want to play with subnetworks like ln and liquid or other sidechains  that are bridged to bitcoin network value, so be it. just be clear about the differences and the risks.

el salvador learned the hard way...
.. though they are using a bitcoin custodian exchange as their backbone of the chivo wallet THIS YEAR. they too were over promised features of LN last year which ended up causing liquidity bottlenecks within days of launch when they first tried LN last year

its another pro LIGHTNING group jumping before they can walk
over promoting before they even have the system set up

goodluck with the liquidity bottlenecks..

to all real bitcoiners:
remember not your keys not your coin
if its not on the blockchain its not bitcoin

lightning payments are promises not settled value.
lightning is not sole ownership its partner cooperation

if you require a person or a string of people to be online and agree to pass the parcel.. of value in a unit measurement that bitcoin does not recognise.. its not bitcoin

its much the same as sidechains. a sidechain that is using a bitcoin utxo as a value lock.. is not bitcoin. its a side/sub network.

its fine to use LN if you remain risk aware of the differences of what LN is and what bitcoin is not. use it for short term nich

he resigned and put inplace anew CEO to manage FTX and keep it open before then filing bankruptcy.

this means he did not go down with the ship
a guy named ray is taking on the bankruptcy..
this means ray as part of the bankruptcy wont be allowed to be CEO of other/new companies for X years.. whilst SBF is free to continue other business plans he has as if there is no bankrutcy against him

he is not taking any financial or professional blame for the things FTX done. thought he personally. outside of legal says its his fault. legally he is free from this legal problem

his mom taught him well

things to note.
the coins "loaned" to another company.. are gone.. they will be written off as a fiat amount which creditors will get pennies on the dollar
usually liquidation companies(like SBF business plan was), was to shift good assets out and kill off the dead wood

SBF also resigned before declaring bankruptcy. which technically means he is personally not part of the bankruptcy. just a PAID adviser.
whereby he is using this event to kill off all the dead wood of all the failed busineses he bought up and raided over the last couple years



and so he can continue to set up and be CEO of other companies(usually in bankruptcy the running CEO cant then run as CEO of businesses for X years)

it doesnt seem like he is taking personal blame financially, professionally
..the captain did not go down with the ship

last mined coins would be in 2140

before that peoples main thought should be if they dont have kids yet, would they. and if they did what would their great great great grandkids be like. would they care about bitcoin or just live happily/snobby on the profits of their great great grandparents

1. SBF is a BUSINESS MAN. he is buddies/sister company of the DCG (the same business group whos interests are trying to mess with bitcoin(code/network) for business desires(not individuals preferences)

2. bitcoin(CODE/network) should not have any businesses inside (central point of failure).. it should be just code that runs itself without a business in control/making decisions(as the legacy parts still do)

3. its your buddy group of social protagonists and finger pointers that supports the businesses trying to be IN bitcoin. you want them in and you and your buddies have many times said how core(sponsored devs by business interests) should own and control the code and should be allowed to upgrade it as they please.. because in your girlfriend(doomads) own words. no one should be able to stop core devs(sponsored by blockstream=DCG)

4. the past controversy(YOU BROUGHT UP FIRST IN THIS TOPIC) is where BUSINESSES overstepped the mark, crossed the line and got into the core of the network to implement the changes in a mandatory way... those BUSINESSES wanted,  for their services and subnets to function

5. YOU support those actions but then point the finger at other directions, all directions bar the ones you support
    YOU think the 2017 activation was just a soft non event where it was suppose to activate "due to community". where you are blind to the narrow BUSINESS community that caused the activation(which you pretend is the wide bitcoin community of individuals)

6. i base my bitcoin utility and usage based on the LEGACY aspect of bitcoin not your favoured business activated features that allow the subnets you adore and want people to off ramp into, to remove utility off of bitcoin 'as the solution to scaling';(facepalm)

7. YOUR social protagonist group are the one declaring and trying to falsely convince people segwit and then your subnets are bitcoin and what everyone should use instead of the features(legacy) of 2009-2014.. YOU are the one promoting your favoured side services and subnetworks are bitcoin and the top solution everyone should use instead of the actual bitcoin network as was invented and used 2009-2014(defined as legacy).
im the one correcting you by separating your myths. by informing people your side services and subnetworks are not bitcoin, but things that require people locking up value on the network. to then use things on the edges or outside the network!!
yep into schemes that require atleast another person or group or a succession of people in a route to agree on a payment, just to get a 'payment success. . (facepalm)

8. you and your social club are the one trying to put your subnetwork and services at the center of bitcoin or ontop as if they are the solution and place people should move into.


FTX and DCG and many of your favoured devs want bitcoin to become a commodity because it fulfils the BUSINESS plans of making bitcoin no longer a digital cash for the unbanked and instead a reserve system for elite services where the blockchain space is only used for locked value of subnets and ETF buckets, and exchange reserves, and where people have to deposit value into to then 'mix'
you lot dont care about self control of peoples own value. you want people to lock value into federated smart contracts, hub channels and coinjoin party mixers.

please realise where you sit. and learn the BUSINESS plans of your idols

your motley crew of social protagonists dont care about the integrity of the bitcoin code(the bitcoin network) you only care about the services you think and want to be IN bitcoin.. but then point fingers that detract from what your favoured businesses are upto .. to pretend its  government or no-bitcoiners that are the cabals in bitcoin.. or even pretend anyone calling out on the BUSINESS over reach must be anti-bitcoin. or where scammers outside of bitcoin are causing bitcoin issues

governments are outsiders. but are scratching at the edges.. more and more.
scammers like CSW have nothing to do with bitcoin. he is playing on his own silly little network no one cares about and he has no significance to bitcoin

businesses should be at the edges. no one should have major control to just activate things on bitcoin as a cabal

when you can separate bitcoin the code/network. from the businesses that want to abuse bitcoin. you might learn something..
(i doubt it because you are as ignorant now as you were years ago)
..
it seems you dont know or want to admit to the "idea's" of SBF

he wants bitcoin to become a commodity where its not treated as a currency but as a reserve for money service businesses to use where individuals are offramped to subnetworks

YOU are part of a social group of fangirls that support those ideals.. while pretending you are now and again against it.. but then strangely promote the same ideals they do

its been too long with you pretending to be against those ideals or just dumb(meanwhile simultaneously supporting those ideals).. so now i think you are fully aware or your fanboyism of those ideals. and are now just pretending to be an ignorant pleb

to understand some basics

as a security/property/currency bitcoin was regulated by the SEC, which had limited regulatory power only over things like money businesses

however treating bitcoin as a commodity. means that other agencies can step in
CFTC the commodities authority can set many things like quota's thus illegalising cryptos from making too many units or offering too many airdrops or premines or even try to close down cryptos that are managed centrally

they can partner with the EPA and get things like mining restricted, by telling energy companies to not supply businesses deemed as mining companies. under the pretence of climate change.

think about other commodities like wheat and beef. CFTC and EPA monitor and set limits on farmers yield and also the health and safety of farming aswell as how much quota of produce can go to market

the adaption of bitcoin to not just be bitcoin. but a main net. that then bridges to other networks like subnets(ln/liquid) and sidechains, has allowed the opening of the door to the jurisdiction of commodities regulation.

because a commodity is simply a raw product used in the creation of other products
though many see or want bitcoin to be a base product to then create new tokens/units of measure on other networks. the downside is opening it up to other agencies regulating more aspects of crypto/bitcoin

it is a big shame that the big players of crypto businesses lobby FOR this transition to commodities. rather then stay unrestricted in the unregulated era of being a tradable product(pre sec:currency status) 2009-2014

its even more shameful that FTX ceo is partners with greyscale/DCG CEO where by even they want bitcoin to be treated as a commodity because the SEC has not given exchanges the ability to open up ETF and their main hope is they will get ETF acceptance under commodity status.. and thats pretty much the big picture reason for their pro-commodity lobbying

first of all IN BITCOIN there is no cabals... i think you are again confusing bitcoin with the businesses gated AROUND bitcoin that use bitcoin at the edges
there is no business "inside bitcoin"

yes i have learned years ago that groups like yourself and your buddies dotted AROUND and below and outside of bitcoin want to say bitcoin is unfit for use so you can persuade people to offramp their value to other networks that rely on users to partner up and sign for each other, requiring trust cooperation, availability and acknowledgement agreement between each other just to make payments.. slowly then requiring larger hubs to service multiple users and then custodianise those hub models to sort out the liquidity issues, which then becomes reliant on each other and requiring them to be online to even transact together..
shame your not realising your part of those groups even though i have mentioned your groups actions many times over the years

and yes your favoured subnetwork you pretend is better or ontop of bitcoin, will become more regulated due to the whole payment mechanism(routing) being a middleman service for a fee, which regulators call being a MSB/MF (money service business/money facilitator)

....
bitcoin has no ear. no eye. bitcoin cannot read government law or hear a senator/minister
however
humans can.. government laws apply to humans and businesses humans run

you cant arrest bitcoin

yes humans, cabals and businesses can do things and either create or destroy, use or abuse. and governments will regulate the human action

bitcoin was created to not be able to be attacked by any one human. there is no central business/human to shutdown/arrest
no central point to fake value/units.

but in businesses they can tweak their user accounts database.
in your favoured subnet a channel partner can create liquidity of msats without a confirmed utxo(EG thor turbo). wallet businesses can make software that changes the pegs of sat:msat from 1:100 to 1:anything, which you only realise you lost when you eventually broadcast months later

once you realise that bitcoin itself is different to the subnetworks and businesses you love and trust and admire and promote. you might see the separation better and maybe actually appreciate bitcoin, rather than your silly subnets and services you prefer to admire

bitcoin is better, and unlike you im sticking with it
i dont hoard my coins on exchanges or silly subnets or sidechains
...
with all that said.
yes there are many other groups that also finger point business/subnet flaws onto bitcoin
many altnetters do and will use these business/custodian/sub/sidenet event failures to try to blame bitcoin for it, and then stupidly/ironically/hypocritically then advertise their services.. but smart people that can tell the difference are in no doubt. bitcoin is still strong

bitcoins VALUE is stable. its moves slowly in a deflationary raise. giving people more goods per value over time

DO NOT confuse the value amount. with the volatile price
bitcoins value sits at the periodic low, below the market price. value that slowly increases

2020: 4k
2021: 10k
2022: 15k

the market rate(price) is temporary and moves quickly, market price sits above value.. buying low is buying good value. buying at ATH is buying at bad value(premium)

do not swap the word price for value as they are not the same.

..
fiat VALUE is not the market rate(cost of living) it is instead the min wage which changes less regular

..
fiat is inflation meaning you are always losing value over time
every few years a $10 is worth les labour hours
which also means you get less goods for your $

bitcoin is deflationary meaning you get more $ for your BTC
which means that you get more goods for your btc

nope. bitcoin was created not to become a one world currency that destroys all fiats.. it was created to give an alternative option to escape or have a choice away from fiat

anything can be a currency. even alcohol or sexual favours.
if people want to swap things for another thing then its their curency
dont confuse "currency" with more common use mediums of exchange like money


again bitcoin was never intended to replace fiat, but if it did. the volatility of markets would stabilise. where the deflation would still exist but would be a smoother raise of value.. compared to fiats smooth loss of value

lets take bitcoin becoming more popular in some countries.
bitcoin is not replacing el salvadors fiat, but it has had a few slow starts to become accepted as another form of money in el salvador., giving el salvadorians an extra choice

for the last 6 months the market price movements happened between $16k-$24k
averaging a $20k where its a 20% below to 20% above average

lets take other currencies
in the same 6 months. things like USD has seen value of things like petrol and food change by more then 40% swing

flip your mindset.. the DIP is a great time. not a doubt time

VALUE is NOT PRICE
value is a different number to the price

lets take fiat currency

a $10 loses value over time.
take a $10 in 2012, it would buy 7.5 loaves of bread, in 2022 only 5.5 loaves
fiat money is a slow stable rate of loss, but its still a long term loss

bitcoin however is a great store of value long term
2012 would buy 4 loaves, 2022 would by 11,000 loaves
..
the other thing to mention is that the VALUE is not PRICE

again someone earning $10 an hour vs someone earning more, is a separation of individuals value based on cost of living.
FIATS existance of value is locked to things like the laws of minimum wage and tax which keep fiat in power and circulation, yet the min wage price is not meeting the standard expectation of cost of living

..
where as bitcoins value is not its market price..
bitcoins value is a number set at the periodic LOW.

value is at the low(a number underneath todays market rate) not the high(EG a ath number).
the speculative market rate where it goes ATH every 2-4 years is not where value is. the ATH is the PREMIUM not the value


when the bitcoin price is near to the LOW its GREAT VALUE, when the market rate is high is far from value and a premium

emphasis:
bitcoins store of value is not the market price. its a number that sits below market price. but its a non-zero number

bitcoins VALUE for 2020 was ~$4k for 2022 is about $15k
the market PRICE is not the value. but speculative amount above value

bitcoins store of value over time goes up because over the years the non-zero-bottom raises

buying bitcoin at market rate is a premium above value
right now bitcoin is at great value to buy compared to buying at 2021 peak

but even so buying at 2021 peak would be in say 2-4 years time great value compared to the future value when the deflation raise of the non-zero-bottom moves up over years

..
emphasis.
store of value is not about "locking in price"
its not about buying bitcoin at $70k in 2021 and able to retrieve out $70k in 2022

its about the VALUE of 2020 being $4k . the value of 2021 being $10k and the value of bitcoin 2022 being $15k
and you able to sell coin and get your value out.

buying bitcoin on markets does not lock in the market rate as value. the price is not value
you pay premiums ontop of value

this is why its always best to buy low. buy the dip., because then you are securing more of your wealth into store of value

EG

imagine you hav $20k wealth
buying bitcoin in 2021 at $70k market price is ~1/7(15%) wealth lock because although the market ATH to $70k the value was $10k

buying bitcoin in 2022 at $20k market price is 3/4(75%) wealth lock, because although the market was at $20k the value was $15k

now imagine its 2017
value was ~$900. but you bought in at the market year end of $20k. . at that precise moment your wealth lock store of value would have been under 5%.. yet due to deflation, waiting 5 years turned that 5% into 75%

where as if you bought earlier in the year of 2017 at say $1k a coin. you would have had 20 coins and a 90% wealth lock store of value. which today in 2022 would be where your $20k buy is now worth $360k which is a 1800% store of value
..
bitcoins VALUE is never found at the ATH. the ATH is bad time to buy. back time to put your wealth into bitcoin.
buying the dip is the great time to put your wealth in. its the best time to lock more of your wealth into bitcoin store of value

yet even when you do accidentality or stupidly buy bitcoin at a ATH. your not at complete loss. you just have to wait it out and have patience for bitcoins store of value non zero bottom to raise up because of deflation to reach your break even or profit point

...
summary
buying the high is (short term) where you should have doubt. you should not be excited or wanting to buy when the price is at a high. you should have doubts about locking in your wealth at a high if you are only wanting t be a short term holder

buying at the ow, the dip is when you should get excited and lock in more of your wealth.

buy low, sell high.. not the opposite
buy the dip not the hype

long term however eventually even buying on a previous high will eventually lead with patience to you breaking even or profiting . IF YOU HAVE PATIENCE

but just remember to buy low to secure more of your wealth into store of value. and never consider the market price or its occasional highs as a 'vale' point.. the highs are not a point of value.. the lows are..buy into prices closer to the value not the premium

this is where you need to learn the difference between BUSINESSES and bitcoin

when it comes to businesses. they are always going to do things like create their own paper losses, or tax avoidance financial records. or claim to be hacked or that they had a bug with their internal database, or some other silly way to abuse a system, that also includes scammers trying to get people to invest/hand over value with silly hopes of returns by trusting their system(such as the names mentioned in the quote)

but bitcoin itself you cant have debt/credit, false coins,
you either have coins. or you dont.

i am not embarrassed or ashamed to hoard bitcoin. i am proud to have my coin on legacy utxo where im the sole owner of the keys. where i dont hold coin in custodial services or convert value into altnets.. my coin is mine and im sole owner. my coin is my coin and im happy, i am not at the risk of needing other people to agree with my decisions to move coin. my value is mine

i dont care much for the temporary price events. because i dont base my value at the latest ATH or the whims of speculation of the moment

when people hand bitcoin to a custodian, or multisig lock it into a partnership, people need to learn they are already at risk of loss just by not having full/sole/guaranteed access to the coins.

even sidechains, subnets where the pegs and locks are not then secured by a large consensus audit system on the other network are at risk.

a unbroadcast/unconfirmed/unsettled bitcoin transaction is the same as a payment that never happened.. yes you can risk zero confirm payments, butthats a personal choice based on risk awareness of security vs versatility, with the hope and 'promise' that one day it might confirm/settle in your favour.... but accept that risk that what is promised to be paid may never end up as a confirmed amount in your favour later.

know the risk. accept the risk.
and just dont be fooled into thinking custodial or unaudited subnetworks are "bitcoin".. no matter what other people have said about how much they love and trust a business/subnetwork.


bitcoin as bitcoin on the bitcoin blockchain where only one user signs for the transfer. is secure for that person.. other things like multisig and custodian then make things less secure for people, especially when a co-partner has to sign or refuse to sign. meaning you are beholden to their acceptance/action

those that understand what bitcoin is, have no fear.. those that want users to offramp to  other networks or offramp to custodian services or even other networks that then require a 'hub'/service managed custodian .. are not the bitcoiners.

the main slogan to remember of all of this
"not your key not your coin"

there is nothing wrong with sidechains, subnets, custodians being an available option/choice. but treat them as temporary niche short term service offering. dont treat pegged coins or subnets or custodians as the offramp where people should keep value long term

if you own a company/trust/large assets. you can set the terms of a loan you are paying out to your personal account. its all dependant on the terms you set yourself that then determines if your loan can be transfered/salvaged/forced to pay back.

there are many news stories over the last few decades about "personal loans" paid to themselves, of prominent people from their business to personal accounts at NIL interest and favourable terms not requiring any/full repayment

normal loans us common people have, have terms where your loan can be sold to collectors.. becasue we common folk dont have the deciding factor on the terms. the loan creator/giver does.. but if you own the business giving loans and dont put those terms in. then its not sold on.

many ceo's, trust managers and politicians do this all the time
..
as for the liquidator scenario
charging invoices of consultation fee's or doing personal loans with dying companies can also have terms that are in favour of the person receiving the gains/value/funds. where by the giver(dying company) cant claw back the loan because of the person favouring terms

its easy to do when your both the new CEO and also the human in receipt of value from a loan.
or if you own both the liquidation company and the liquidated company, where by if handed to a separate administrator. the administrators hands are tied and can only write off the loans/debts

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over all. if a business is a liquidator.(buys up dying companies to kill them off) and bankrupts them.. the liquidator eventually has to close off too..
when a business buys up a dying company and recovers it into a working sustainable business. the chances of that buyer having to also close up is less because he has now expanded his portfolio

FTX ceo was a liquidator not a recovery guy, he was bound to have to do this event eventually. im just surprised it happened so soon..


if binance did buy FTX.. if it then bankrupted FTX and binance then done the same to other companies. eventually in future binance is going to have to do same thing.. but if binance did buy and then recover FTX into a working sustainable exchange it could have strengthened binance portfolio even more.

binance decided to take the neither option.. forcing FTX hand which was a good strategy fr binance to get rid of a competitor at no cost no loss.