Bitcoin....who's gotten into it?

[whitekingsalmon]

Reading the last few pages just now I'm thinking some you losers need to get a fucking life.

[J. Barron DeJong]

Trump posted that he's going to do a crytpto reserve today:

On this wild Sunday, March 2, 2025, an anonymous whale has just made waves in the crypto market with some jaw-dropping trades!
They've opened a staggering $123 million LONG position on ETH and a $72 million LONG on BC-both with an eye-watering 50X leverage! This trade could be seen and found on Hyperliquid platform.
Funny how this lucky whale was able to time this trade perfectly just right before the US president announced the U.S crypto reserve strategy, and it's goals to become the Crypto Capital of the World.
Just being 2% down would have liquidated his position. Yet he is now up hundreds of millions from this incredible trade and luck!

https://bsky.app/profile/ido.bsky.so.../3ljgk5rqvwc2q

[shroom]

lucky retard

[Bunion 2020]

Luck had little to do with it.Further proof that this is an easily manipulated market.

[Bunion 2020]

Luck had little to do with it. Further proof that this is an easily manipulated market.

[stalefish3169]

THe gOVeRnMeNT iS GoInG tO BaN tEh BiTcorN

[skaredshtles]

THe gOVeRnMeNT iS GoInG tO BaN tEh BiTcorN

But in an ironic turn of events, they've done something even DUMBER.

[stalefish3169]

But in an ironic turn of events, they've done something even DUMBER.

Please tell us more, old wise sage, who has been fading BTC since it was at least 30x lower.

[JimmyCarter]

[emoji637][emoji6[emoji640][emoji638]][emoji[emoji6[emoji640][emoji638]][emoji640][emoji6[emoji640][emoji637]]];[emoji[emoji6[emoji640][emoji638]][emoji640][emoji639]][emoji638][emoji[emoji6[emoji640][emoji638]][emoji640][emoji6[emoji640][emoji638]]][emoji[emoji6[emoji640][emoji638]][emoji640][emoji639]][emoji[emoji6[emoji640][emoji638]][emoji640][emoji640]][emoji6[emoji640][emoji638]][emoji639]]Please tell us more, old wise sage, who has been fading BTC since it was at least [emoji639][emoji[emoji6[emoji640][emoji638]][emoji640][emoji6[emoji640][emoji638]]]x lower.

Explain the purpose of a “strategic bitcoin reserve”

[skaredshtles]

Explain the purpose of a “strategic bitcoin reserve”

To pump the price of Bitcoin. Duh.

[stalefish3169]

Explain the purpose of a “strategic bitcoin reserve”

It's to ensure that the USA remains competitive as the world embraces BTC as a neutral form of money. Duh.

[J. Barron DeJong]

And how does the government sitting on its seized Bitcoin holdings achieve that goal to 'stay competitive'?

[JimmyCarter]

Let’s lock up money we don’t have in a volatile asset! Strategery!

[J. Barron DeJong]

Like, setting up a favorable regulatory environment or whatnot could help us be competitive (in a market it would be better if we weren't...) but what does just locking up some BTC achieve other than guaranteeing you'll be there as a bag holder of last resort?

[stalefish3169]

Why do we hold gold? Is it for teeth fillings? Just in case?

[J. Barron DeJong]

Why do we hold gold? Is it for teeth fillings? Just in case?

Because we used to be on the gold standard. If we hadn't we wouldn't hold all the gold we hold now; it's not like the strategic petroleum reserve.

The gold wasn't sold so that it wouldn't collapse markets that were built up on the basis of the gold standard, and here we are decades later.

[skaredshtles]

Because we used to be on the gold standard. If we hadn't we wouldn't hold all the gold we hold now; it's not like the strategic petroleum reserve. The gold wasn't sold so that it wouldn't collapse markets that were built up on the basis of the gold standard, and here we are decades later.

[stalefish3169]

Because we used to be on the gold standard. If we hadn't we wouldn't hold all the gold we hold now; it's not like the strategic petroleum reserve.

The gold wasn't sold so that it wouldn't collapse markets that were built up on the basis of the gold standard, and here we are decades later.

Seems legit. Lol

So the new EO says that USA can acquire more BTC in cost neutral manner. Should we sell the gold and use that money to acquire BTC? Or should we just keep the shiny rocks in the basement for perpetuity?

[J. Barron DeJong]

Seems legit. Lol So the new EO says that USA can acquire more BTC in cost neutral manner. Should we sell the gold and use that money to acquire BTC? Or should we just keep the shiny rocks in the basement for perpetuity?

Feel free to argue against any point that doesn't seem legit to you.

And yeah, I'd be perfectly happy to sell off the gold reserve, but not for buying Bitcoin.

[J. Barron DeJong]

Crazy how we just stumbled upon the perfect level of gold reserves in the 70's and haven't needed to change since:

https://en.m.wikipedia.org/wiki/Gold...d_reserves.png

Moron.

[Bunion 2020]

@ Stalefish, I am sure this may have occurred to you but, watch your ass. Your BTC is now a pawn in the TRump chaos machine. Good luck.

[J. Barron DeJong]

On the bright side, the Bitcoin reserve EO seems to have failed at pumping the price.

[babybear]

Anyone able to decipher this full page ad in the Jackson Hole Daily?
Or is it just an anonymous brag about mining some new coin?

[singlesline]

Anyone able to decipher this full page ad in the Jackson Hole Daily?
Or is it just an anonymous brag about mining some new coin?

Somebody just bragging/pimping the coin that let them retire and buy a place in Jackson.

The thing at the top is the raw text of the "Genesis Block" (the first block of the bitcoin blockchain against which all the others are mined) that was made to have that NYT headline in it by Satoshi, the creator.

[babybear]

ok yeah, so what I figured. A strange lot that group. But at least it supports the local newspaper, I guess.