Bitcoins - digital currency
Bitcoin is a peer-to-peer digital currency. Peer-to-peer (P2P) means that there is no central authority to issue new money or keep track of transactions. Instead, these tasks are managed collectively by the nodes of the network. Advantages:
- Bitcoins can be sent easily through the Internet, without having to trust middlemen.
- Transactions are designed to be computationally prohibitive to reverse.
- Be safe from instability caused by fractional reserve banking and central banks. The limited inflation of the Bitcoin system’s money supply is distributed evenly (by CPU power) throughout the network, not monopolized by banks.
Total size 5,811,700 BTC
or 4,585,431 USD
or 3,545,137 EUR
or 133,094,323 RUB
or 3,849 ounces of gold
Any value to this idea or will it never work?
If it would go up either way, then it would already be up!
You bet on a team to win a football match. If they score, you're more likely to win the bet, the EV of your bet increases. If they score again, the odds further change in your favour. Or, say, the games enters injury time, and you're winning, then the odds reflect the likelihood that you're going to win. And this is reflected in the EV of your bet.
Eg. A team is 2.0 (even money) to win at the start of the game. You bet $100. Your bet is worth $100 now, but at the end of the game it will be worth either $200 or $0. They score and the odds drop to 1.25, and now your bet is worth $160. So the potential win is "partially" priced in, but it will increase further if they win. (Or drop if they lose.)
Biden/Warren are anti-crypto. If they win, they will continue to try to crush it.
Trump at least pretends to be pro-crypto. At worst, he can't be worse than the current admin.
But ATH under current admin. Spot ETF approval under current admin.
Those are two things that seem to contradict your argument: "at worst, he can't be worse than the current admin"
Please note, I'm just playing devil's advocate and only know that I know nothing.
To be fair, Trump did declare he'd pardon the Dread Pirate if he were elected while speaking to the libertarians.(I loled)
But ATH under current admin. Spot ETF approval under current admin.
Those are two things that seem to contradict your argument: "at worst, he can't be worse than the current admin"
Please note, I'm just playing devil's advocate and only know that I know nothing.
To be fair, Trump did declare he'd pardon the Dread Pirate if he were elected while speaking to the libertarians.(I loled)
Market conditions. Printing. Everything rips.
BTC will still go up and reach a new ATH under another Biden/DNC admin too. They try to stop it, but they can't.
It will just rip more and be a more enjoyable experience under a GOP admin that doesn't try to stop it at every opportunity.
Biden effectively released Assange. That was a good bit for him.
Straight up **** the politicians.
Thanks for using the report function everyone, it helps a lot.
After many years of waiting and some anxiety after everyone I knew got paid the cash part of the settlement long before me I received money in the bank from MtGox. They already confirmed my exchange account is valid so BTC to follow soon. Then another 6-10 years until final settlement.
58k gang
Waiting for everyone who said it was too high and will buy when it's lower to buy. Or maybe that threshold was 50k.
Once it gets to 50k, their threshold will decrease to 40k.
why is it tanking? the high beta tech part of the market just keeps going higher and higher
Saw something about ETFs being shorted to make weak miners sell cheap, then moon after washing them out.
But cheap sats for the psychopaths, baby. So who really cares?
All the crypto bros sitting at home with nothing to do, no friends, no family, alt coins ded, meme coins ded, crypto ded. What else to do but damp?
touch grass
Kind of hoping something like this plays out. De-risked about 40% of my crypto (mostly BTC) at 61k but my stink bids didn't get filled during the dump.
why is it tanking? the high beta tech part of the market just keeps going higher and higher
140k BTC returned to mt. gox creditors + Germany auctioning off 40-50k BTC it seized back in January (with both signaling their intentions to the market which becomes a self fulfilling prophecy). Like if you know 50k BTC are about to be market sold then you’d lower your buy levels to below 50k BTC worth of liquidity.
Then simultaneously we’re in the midst of a miner capitulation which happens every halving cycle but hasn’t yet occurred this cycle as prices set new ATH’s pre-halving for the first time ever + ordinals Tx fees were juicing miner rewards. Miners were hoarding reserves up until March/April but have sold aggressively in recent weeks which will continue until unprofitable miners leave the network and a new equilibrium is reached. Hash rate is down 7% from its level at the halving so that just needs to run its course.
And then finally it’s just standard dime-a-dozen bitcoin volatility that has existed since inception. Bitcoin just set a new all time record for the longest period of time without a -25% correction which just ended at 427 days, beating a record that was set 12 years ago in 2012! Bitcoin was basically up only since November 2022 (+370% trough to peak with two minor <20% corrections in 2Q23). This correction was long overdue and I thought it would have occurred back in Feb/March so I derisked a little but of course it rocketed higher with nothing worse than a 5-7% move down and I was forced to rebuy 10-15% higher in my Roth.
Embrace the volatility and take advantage of temporary market inefficiencies / unnatural sell pressure / emotional overreaction to increase your stack because it’s unlikely to stay down for too long. In post-halving year bull markets, 25-35% drawdowns have historically been great buying opportunities near the local lows. Wouldn’t be surprised to see a $500m MSTR convertible debt offering to increase their position (tho Saylor often seems to buy the high end of local ranges).
This little pump the result of the DT shooting?
standard shakeout before accumulation into ETH ETFs going live (hopefully) next week.
Could very well be the last time we see sub 3k eth and sub 60k btc ever again
If I had 58k for every time someone said that...
That certainly marked a pivot point on which the market turned but most of the downward pressure had been the huge amounts of BTC dumped by the German government over a 3 week period. I think over half of the 50k BTC they had was dumped in a one week period. The were transferring BTC to exchanges and market selling it day after day without much care for the price. It was a strange way to go about selling it all but apparently it had something to do with German law that they needed to get rid by a certain date after a court ruling. Once that overhang was gone it it lifted the sell pressure.
The Gox distribution seem to be starting very soon so still in a bit of limbo currently.
