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Well, guess it's not the worst outcome, they could've tried to fight it and outlawed corn altogether. Here they're trying to create a compromise, but with that they're creating a dissonance which won't be able to stand for long. Yes it's a global valuable assets, yes banks will own it and trade it, yes you can own a paper derivative of it and have exposure to corn's price, but no we will not let you own it directly because of reasons.
Think we all know the only way that dissonance will resolve itself.Of course, actual possession has more value than 3rd party custody, yet I remain baffled in how matters are going to resolve.
From my perspective, in a longer timeframe, it would be a miracle if the resolution ends up with 10-20% of the "bitcoin holders" holding their own keys and being able to transact with each other without too many thugs trying to put their boots on the necks of such HODLers.
Do you imagine a less war-like transition (supposedly into bitcoin)? And, don't get me wrong, I am not calling for war; instead, I am just observing in relatively vague ways the direction that I consider to be in the cards.
If we think about mid-August to present bouncing from the mid-$70ks to the mid-$80ks, then there could be some excitement in regards to whether the corn prices might bounce out of such range, and surely in current times towards to bottom of the range...
Personally, I am not going to proclaim boredom, especially since we seem to be knocking on the door of the bottom of what seems to be nearly a 3 month price range.
Around 8/18, we had our bouncening up out of a lower range of upper $50ks to upper $60ks that had been going on for about 3 months prior to that August bounce.
Nasdaq-100: 6.4% down
Bitcoin: 5.3% down
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Meanwhile, relative strength is still showing, though due to how Nasdaq took the bigger hit while Bitcoin only experienced -5%
Looks like noise to me... especially when guys give any shits about timeframes that are less than a week.
OT Well...Cybertruck is now becoming a vintage car.
https://www.wired.com/story/rip-cybertruck-you-were-unloved-unwanted-and-utterly-absurd/Maybe I should buy one...or not.
EDIT: I wonder if in 2-3 years Tesla would stop making cars altogether.
Elon's game seems to use Tesla's cash flow after the potential merger with SPCX (to create
X, I guess) to borrow money for the rapid data center buildout.
In this case, they should spun it (car-producing part of TSLA) off as soon as data centers are formidable enough to give SPCX $400-500 bil in revenue (which could be "just" 10 GW of compute, quite doable by the end of 2027, if politics allows it).
Fuck Elon...and the various shitcoins you seem to be wanting to discuss.
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Bitcoin, one minute down, next minute up.
On Nov 4, it was around 75.7k and went up to 80k on Nov 5 and now back to 75.7k on Nov 6.
I am not going to find the reason for this because every time price goes down there are scores of stories.
There could be some connection with the BIGGER players pushing to liquidate leverage players, which is another reason not to fuck around with leverage.
The ongoing trauma is bad enough for those of us who are striving to remain perma-long players, even though, so far, over the past 8-15-ish years, we (referring to the long players) have ended up coming out ahead, to the extent that history helps folks, in these here parts, to feew any MOAR better.
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