Cryptotourist
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March 22, 2020, 03:59:32 PM |
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Neighbors giving out donuts, just awesome, bless you America.
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serveria.com
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Privacy Servers. Since 2009.
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March 22, 2020, 04:03:21 PM |
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Bitcoin above $80K
But... but... you're trying to say I'll be too old for the $100k party? Damn...
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Wekkel
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yes
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March 22, 2020, 04:03:25 PM Merited by fillippone (2) |
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Nice one, fillippone. Out of sMerit. Will get back to this one after I scooped up one again.
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Last of the V8s
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Be a bank
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March 22, 2020, 04:05:39 PM |
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nutildah
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March 22, 2020, 04:13:02 PM Merited by fillippone (2) |
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The fact is that Bitcoin has zero correlation with other asset classes.
Not a fact. Even @aantop recognizes the correlation: There's other more mathematically sound ways of identifying increasing correlation but they are too cumbersome and boring to reproduce at the moment. Trading bitcoin has low correlation to other asset classes and high volatility
Low, yes. None, no. If bitcoin would have been a pure gambling tool, given the enormous swings during the last days we would have seen a great surge in bitcoin transactions and a subsequent rise in transaction fees. Ok, we observed a rise in both metrics, but nothing comparable to what would have happened if we had observed a "rush" to the exchanges to trade bitcoins.
Today's swings are due to more investors using different high leverage options that weren't available in 2017, thus there is no need to move huge amounts of coins around on-chain. BitMEX was around back then but not nearly as many people were using it as today. And now it has several competitors that weren't around back then, as well. So, don't infer anything about bitcoin only looking at the price: the price is one of the many aspects of bitcoin, but there is much more to deal with than price.
Yes, I do agree with this. And its these fundamental aspects that give bitcoin its value, which I believe ultimately will hold, so long as we still have internet and electricity.
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Torque
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March 22, 2020, 04:14:17 PM |
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Bitcoin above $80K
But... but... you're trying to say I'll be too old for the $100k party? Damn... Not at all. Before 2030 comes I'm almost positive we'll see a spike above that. What I'm talking about is the low, or sideways, price of BTC will float around ~$80K in ten years. Or higher. And by that time asset inflation will have been really really bad.
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Searing
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Clueless!
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March 22, 2020, 04:23:36 PM |
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So it begins, Venezuela closing banks down. Bitcoin buying boosted. Link below. https://beincrypto.com/bitcoin-buying-boosted-in-venezuela-as-bank-branches-close-down/You think Trump's printing money and such is silly, wait to you see the fly by night money printing and dubious actions by mostly third world authoritarian regimes. This is gonna be bad for lots of folks.
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psycodad
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精神分析的爸
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March 22, 2020, 04:24:10 PM Last edit: May 14, 2023, 04:34:22 PM by psycodad |
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Don't know if its true, but it sounds so british that I am confident it is. *thumbs-up*
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fillippone
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Fully fledged Merit Cycler - Golden Feather 22-23
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March 22, 2020, 04:30:33 PM Last edit: May 16, 2023, 06:24:11 AM by fillippone |
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The fact is that Bitcoin has zero correlation with other asset classes.
Not a fact. Even @aantop recognizes the correlation: There's other more mathematically sound ways of identifying increasing correlation but they are too cumbersome and boring to reproduce at the moment. Correlation cannot be observed over a brief crash. If bitcoin and stocks market crash at the same time, this has no (levy little) impact on correlation, that must be observed on long period to be meant significative. Today's swings are due to more investors using different high leverage options that weren't available in 2017, thus there is no need to move huge amounts of coins around on-chain. BitMEX was around back then but not nearly as many people were using it as today. And now it has several competitors that weren't around back then, as well.
Correct, good point, maybe you are right, but I think volumes of this kind of leveraged trading is not so prominent in total trading amounts.
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VB1001
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<<CypherPunkCat>>
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March 22, 2020, 04:32:14 PM |
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serveria.com
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Privacy Servers. Since 2009.
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March 22, 2020, 04:40:45 PM |
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In fact, it's not just Venezuela... in many countries banks are literally running out of money (cash). Here's when BTC is coming to help...
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Last of the V8s
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Be a bank
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March 22, 2020, 04:51:37 PM |
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We are going to need bigger guns.
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fillippone
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March 22, 2020, 04:53:56 PM |
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A new Day, a new restriction in Italy. Now it is forbid to move out or your local municipality. Coronavirus, ban on the movement of people from the municipality where they are "except for proven needs"
https://www.corriere.it/cronache/20_marzo_22/coronavirus-divieto-spostamento-le-persone-comune-cui-si-trovano-af7a9136-6c51-11ea-8403-94d97cb6fb9f.shtmlItaly has now closed every non-essential activity. You can exit from home only in a 200 m radius, for whatever reason, but work and food shopping. Many supermarkets have now restricted opening hours, in addition only one person per family can enter the shop. The only last step to be exactly like China is welders on the house doors.
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lightfoot
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I fix broken miners. And make holes in teeth :-)
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March 22, 2020, 04:55:15 PM |
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We are going to need bigger guns.
How big? .50 cal is about as much as I'd want to handle in a pinch.
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JayJuanGee
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Self-Custody is a right. Say no to"Non-custodial"
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March 22, 2020, 04:56:06 PM |
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Thanks for narrowing down your recommendations. I am currently using the Overcast app to listen to podcasts, so I will rarely listen to any podcasts that are not on overcast (except incidentally if an episode is pointed out as notworthy on some other medium).. just makes it easier for me to keep track of it on overcast and I can vary the speed... and just listen to any podcast at my own background playing convenience.
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Wekkel
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yes
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Besides people surrounding me IRL, I am glad hanging around here with you guys (and girls) in these trying times.
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Last of the V8s
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Be a bank
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March 22, 2020, 05:01:50 PM Last edit: March 22, 2020, 05:32:41 PM by Last of the V8s |
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btw spare a thought please for a pseudonymous fellow bitcoiner (edit let's call him AV) who has disappeared from a channel I know of. A youngish guy maybe like 32, very friendly European, knowledgable maxi type. By all accounts he was chatting away in channel researching the virus with everyone. One morning end of January he said he was feeling ill. He hasn't been heard from since despite repeated messaging over different platforms. He had had no 'jungle plan' that he's shared and was going to stay in place where he felt well set up. They have doxed him among a select few and will pursue that to check on his welfare, but it seems either very callous of him not to check in or very sad for him and his family that it should come on so quickly.
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VB1001
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<<CypherPunkCat>>
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March 22, 2020, 05:03:01 PM |
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Besides people surrounding me IRL, I am glad hanging around here with you guys (and girls) in these trying times.
I have the same opinion.
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VB1001
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<<CypherPunkCat>>
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March 22, 2020, 05:06:08 PM Last edit: March 22, 2020, 05:27:07 PM by VB1001 |
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We are going to need bigger guns.
How big? .50 cal is about as much as I'd want to handle in a pinch. Something like this?
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