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

[JimmyCarter]

To note, that’s the price that makes his shitty company worth as much as the current largest market cap companies at about $3T.

[skaredshtles]

<snip>
When will these true believers realize Saylor is really just a fucking moron trying to convince them to prop up his bag?

I mean... for some, probably never.

[J. Barron DeJong]

US dollar still doing good things for the lower classes, no thanks to Bitcoin.



https://bsky.app/profile/peark.es/post/3l3sm2x2gda2y

[MultiVerse]

lol, MMT'ers still falsely claiming that their policies worked when in fact their policies made things worse. That's according to Jong's own source on the previous page. Clowns like George Pearkes above are right about labor markets helping workers, wrong about policy "inflation be damned." They deceive by trying to make false connections between different things when in reality non-college educated workers switching out of low-wage industries *exclusively* explains their wage growth:

"In summary, post-pandemic wage growth among high-school under-40 workers accrues exclusively to movers. Contrasting the gains of high-school under-40 workers with all other workers further underscores the centrality of job moves to post-pandemic wage growth among this young, non-college group."

"The tightening post-pandemic labor market spurred a burst of labor market competition that
boosted real wages among low-paid workers and compressed the lower half of the wage distribution."
...
"inflation was modestly lower for the bottom quartile of households relative to the next two higher quartiles between May 2020 and May 2022. This is because bottom quartile households spend a relatively small share of income on motor vehicles and gasoline, both of which saw rapid pandemic-era inflation"
...
"Applying this adjustment would modestly strengthen our conclusion that low-paid workers saw differentially rapid real wage growth in the post-pandemic economy."

https://economics.mit.edu/sites/defa...r%20Market.pdf



TL;DR: Labor market dynamism and firm efficiency increases workers' wages

[byates1]

I for one am glad we have a multi/jong bickerfest. Gives the thread another joie d vive of sorts.

[MultiVerse]

Bickering, not me. If you look at the numbers, Biden and Harris are quietly having a successful administration. Jong doesn't need to lie about it by arguing inflation helped people. The numbers are good despite inflation, not because of inflation.

[J. Barron DeJong]

I for one am glad we have a multi/jong bickerfest. Gives the thread another joie d vive of sorts.

Uh, I only posted some good income numbers that were released today.

Not sure what MV is on about, and I don’t care to know.

[byates1]

He's taking you to school son.

[Bunion 2020]

Cryptocurrency tokens linked with Donald Trump and Kamala Harris were a picture of contrast as the high-voltage debate between the presidential hopefuls drew to a close.

What happened: Maga Coin (TRUMP), rooted in the “Make America Great Again” movement, and the largest of all Trump-inspired tokens in terms of market cap, plunged more than 12% during the debate, and overall 10% in the last 24 hours.

Yeah Crypto, it is so fucking solid and not a scheme in the least

[Bunion 2020]

Uh Oh Davey

A regulatory dispute in Ohio may help answer one of the toughest questions hanging over the nation’s power grid: Who will pay for the huge upgrades needed to meet soaring energy demand from the data centers powering the modern internet and artificial intelligence revolution?

Google, Amazon, Microsoft and Meta are fighting a proposal by an Ohio power company to significantly increase the upfront energy costs they’ll pay for their data centers, a move the companies dubbed “unfair” and “discriminatory” in documents filed with Ohio’s Public Utility Commission last month. American Electric Power Ohio said in filings that the tariff increase was needed to prevent new infrastructure costs from being passed on to other customers such as households and businesses if the tech industry should fail to follow through on its ambitious, energy-intensive plans.

The case could set a national precedent that helps determine whether and how other states force tech firms to be accountable for the costs of their growing energy consumption.

Central Ohio, a Rust Belt region that has struggled with the departure of its manufacturing industry, has rapidly emerged as a data center stronghold in the United States. The power company said projected energy demand in central Ohio forced it to stop approving new data center deals there last year while it figured out how to pay for the new transmission lines and additional infrastructure they would require.

The energy demands of data centers have created similar concerns in other hot spots such as Northern Virginia, Atlanta and Maricopa County, Ariz., leaving experts concerned that the U.S. power grid may not be capable of dealing with the combined needs of the green energy transition and the computing boom that artificial intelligence companies say is coming.

On Thursday, the White House announced measures intended to speed up data center construction for AI projects, including by accelerating permitting.

Energy customers must sometimes make a monthly payment to a utility that is a percentage of the maximum amount of electricity they predict that they could need. In Ohio, data center companies had agreed to pay 60 percent of the projected amount. But in May, the power company proposed a new, 10-year fee structure raising the charges to 90 percent of the expected load, even if they don’t end up using that much.

[jm2e]

Got a new phone and lost all access to my Coinbase account. Looks like it’ll take more time than I have right now to get back in.
Can someone tell me if the line is going up ?


Sent from my iPhone using TGR Forums

[Harry]

Got a new phone and lost all access to my Coinbase account. Looks like it’ll take more time than I have right now to get back in.
Can someone tell me if the line is going up ?


Sent from my iPhone using TGR Forums

If you are talking TradFi like the Dow or S&P 500, line is up. Way up.

Unfortunately if you are asking about Crypto, line is down.


Sent from my iPad using TGR Forums

[J. Barron DeJong]

Fed out here propping up Bitcoin.

[MultiVerse]

Been saying it here for years, stand aside Mr. Michael Saylor, the Fed is bitcoin's best friend.

[shera]

Bitcoin is most closely correlated with liquidity, what do you expect.

[MultiVerse]

I agree with you

[MultiVerse]

Related: "Correct to go bigger rather than smaller with the rate cuts imo.

I would just say to everyone in congress that to have sustainable low long-term interest rates we probably need deficit reduction." — Matthew Yglesias

[shera]

At least lower interest rates have a direct impact on servicing the debt. Anyway I am no armchair economist and wouldn't pretend to know better than Powell how to manage the cost of money.

Bitcoin is at 63k, but it doesn't get interesting until the first resistance at 65k and plenty more resistance above that all the way up to the ath. Cool to have a little drama for entertainment though...

I'll just add for the haters, bitcoin is still up more than 30% ytd, ahead of just about everything else, especially the indexes

[immiguy1]

I think Bitcoin's time of glory has passed and I don't see it booming any time soon. Memecoins seem to be getting quite popular. Even https://solana-scripts.com/pumpfun-bundler can get you some pretty good wins.

[byates1]

The prophet has spoken. Heed the words of his holiness.

[JimmyCarter]

The prophet has spoken. Heed the words of his holiness.

Dey took yer jerb!

[byates1]

Lol

[shera]

I think Bitcoin's time of glory has passed and I don't see it booming any time soon. Memecoins seem to be getting quite popular.

This looks like a superficial point of view, maybe looking for momo trades or something.

Bitcoin is the tenth largest asset in the world at $1.25 trillion, ahead of Berkshire Hathaway. It's been several years (2017) since bitcoin was deemed a commodity and a futures market was established by the CFTC. Now we have not only the ETFs on wall street, but derivatives on those ETFs here in the US. Those are the simple facts, along with number go up of course. Not going to zero anyway.

I don't see any memecoins with that kind of legitimacy.

[Bunion 2020]

Not going to zero anyway.

Everything goes to zero eventually, just need to decide how long that long view really is.

[byates1]

All of us will be dust and noone will have ever known we existed before BTC is zero. So I'm reality BTC is not going to zero.