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?
I’m not a maxi (though pretty close) and don’t believe the shitcoins belong anywhere near a strategic reserve. Bitcoin was the 0 to 1 achievement and the strategic reserve is being treated like a VC investment: “throw enough shit against the wall and hope something sticks.”
I guess I kind of see the logic. If you can print infinite worthless US dollars might as well buy up a stockpile of the next 3-4 most likeliest shitters that could have some place in the future of finance while their market caps are low and your currency is worth something, but I still think it portends a naive understanding of the state of the market by the government.
Narrativr scarcity can only be discovered once. If someone copies Bitcoin's blockchain, slaps a meme on top and sells it, only a fool would buy it. It could be done infinite times since human stupidity is also infinite.
Stockpile EO.
USA government to hold seized bitcoin.
Sorry, they aren't buying new bitcoin and won't be exit liquidity for you.
Happy USA BTC strategic reserve day!
Bitcoin down
Was already priced in .
i'm waiting until i get the opinion of someone with a slutty owl nft as a profile picture before making any buy or sell decisions
Waiting for some budget neutral trading to emerge. That's the bull sign if it happens.
Soon Bitcoin will be the new default currency of the world
Bye bye Operation Choke Point 2.0
Care to explain why not?
As it turns out, lumping BTC in with shitcoins in the fake reserve wasn't exactly the best thing for the market
this has been discussed ad nauseum in the thread if you go back and search
a world where bitcoin is the dominant storage of wealth is a horrific post apocalyptic world where 1.2% of the world owns 100% of the wealth and of those 1.2%, it's again mega concentrated where the top 1% own 90% of it
obviously, in order for it to become more mainstream it'll have to shake out a bit and get more widely distributed, but again, nobody should want to live in that kind of world, even if you're one of the few who theoretically benefit because there will be no semblance of a functional society
and then nevermind the fact that the most likely pathway to getting to that point is catastrophic economic collapse - so mix that in with unprecedented wealth inequality that the world has never seen before and you have a recipe for a world strongly resembling some post apocalyptic dystopia like mad max
what maxis should be calling for is it to become a global standard of wealth storage that's universally accepted like gold
BTC @ $78k
ETH @ $1,850
tempting to buy in...
this has been discussed ad nauseum in the thread if you go back and search
a world where bitcoin is the dominant storage of wealth is a horrific post apocalyptic world where 1.2% of the world owns 100% of the wealth and of those 1.2%, it's again mega concentrated where the top 1% own 90% of it
obviously, in order for it to become more mainstream it'll have to shake out a bit and get more widely distributed, but again, nobody should want to live in that kind of world, even if you're one of the few
I think it's possible a world w BTC as #1 currency would simply look vastly different from the world of today but not necessarily post-apocalyptic. The idea is governments no longer have power over our money and society just becomes more globalized...decentralization is the point, but it doesn't have to be some dystopian future of full bore anarchy. Advancements in technology are only going to reduce global poverty. Scarcity is always the open question
The people who own BTC today are just buying it because the price is always going to go up in cycles due to the halvings. If it were to become a true currency, then the bull thesis no longer exists. In my mind that doesn't happen until all the coins are out and we are all most likely dead (or marinating in cryogenic chambers?). That world is going to look vastly different 10x times over as that's basically 100 years from now
There's a good article at KrebsOnSecurity about LastPass users who stored their seed phrases inside their LastPass vault. Security researchers are finding commonalities in LastPass users who had their crypto stolen. It even has a victim explaining how he lost $3.4 million.
Follow up to my previous 2023 post - Krebsonsecurity has a new article about a federal court filing in which Lastpass is suspected of being cracked in a $150 million crypto heist. The victim was likely Chris Larsen, the cofounder of cryptocurrency platform Ripple (Ripple Labs Inc.)
Looks like the feds only clawed back $24 million of the $150 million stolen.
Seems clear at this point that the Trump admin plans on repricing gold to buy Bitcoin in a budget neutral way. Too obvious of a grift for him not to try it. Will be interesting to see if the courts let him get away with it.
Budget neutral, grift positive
I just did a USDT (on binance chain) to BTC. Am I **** out of luck?
I did a Google search and it said it was possible. I'm did this on the Trust Wallet.
I did a smal test from BTCB to BNB to BTC and that test worked. Then, apparently I went from BTCB to USDT (bnb chain) and then tried that swap to BTC, and it's not showing up in my list wallet balance.
It was for $2,200.
If anyone can help me or point to someone who can, I'll give them $200.
Thanks.
I don't see anything jumping out at me as wrong. Is it just taking a while to process?
