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

[glademaster]

Not just China! North Korea, Russia, et al!!!

I have a strong opinion that we (USA) cannot put our head in the sand and have an obligation to control bitcoin. It's a matter of national security.

Change "control" to "eliminate" or "eradicate" (your choice) and you've got an idea I can get behind.

[pureantigravity]

Peter Thiel stating that "...Bitcoin should also be thought [of] in part as a Chinese financial weapon against the U.S.,”"
That'll stabilise things....


https://www.bloomberg.com/news/artic...e?srnd=premium

As kooky as that sounds, coming from Peter Theil lends it serious consideration. I've never really cared for all this name worshipping but Peter Theil is a fascinating entrepreneur in his own right.

A philosophy graduate, turned Lawyer and law clerk, speechwriter, derivatives trader, capital management, PayPal, AI, Seasteading(?!). So when he says stuff, people that know listen.

He's wrong though. It is much more likely that he and a bunch of other entrepreneurs formed a think tank 15 years ago and envisioned Bitcoin under Satoshi's pseudonym. The idea that China would waste power, would enable people to fly their capital out of Chinas gambling regions, and enable crypto (a currency network that bypasses China's great internet wall) is unbelievable.

Regardless, it sounds kooky and it is.

[Cono Este]

I think it’s here to stay, but Regulation is coming.


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[shera]

I think it’s here to stay, but Regulation is coming.


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Long overdue! I'm also excited about the prospect of USDC because then we can ditch tether and keep the almighty dollar, well, almighty.

Arthur Hayes of BitMexico is now in custody and I think he will be explaining a lot of shenanigans to the federal govt that can affect Binance and ultimately get a handle on the futures/derivatives market. That's good news for US dominance and the world order...the wheels turn slowly, but they do turn.

All that said, I wonder if a USA based ETF will ultimately signal the top of this bull run. Remember what CME did in 2017! I think maybe they will short BTC into the ground and we will have our next protracted bear market...

All my opinions, of course, nfa.

[stalefish3169]

As kooky as that sounds, coming from Peter Theil lends it serious consideration. I've never really cared for all this name worshipping but Peter Theil is a fascinating entrepreneur in his own right.

A philosophy graduate, turned Lawyer and law clerk, speechwriter, derivatives trader, capital management, PayPal, AI, Seasteading(?!). So when he says stuff, people that know listen.

He's wrong though. It is much more likely that he and a bunch of other entrepreneurs formed a think tank 15 years ago and envisioned Bitcoin under Satoshi's pseudonym. The idea that China would waste power, would enable people to fly their capital out of Chinas gambling regions, and enable crypto (a currency network that bypasses China's great internet wall) is unbelievable.

Regardless, it sounds kooky and it is.

Regardless of what Peter thinks, BTC is 58k and I think you've used up all your other people are wrong cards.

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[TahoeJ]

Peter Thiel stating that "...Bitcoin should also be thought [of] in part as a Chinese financial weapon against the U.S.,”"
That'll stabilise things....


https://www.bloomberg.com/news/artic...e?srnd=premium

Meh, no one really listens to that dickhead anyway.

[MultiVerse]

Yeah, most of the folks getting into crypto view it as a digital lottery ticket, not money, and they don't care about the details.

[stalefish3169]

Yeah, most of the folks getting into crypto view it as a digital lottery ticket, not money, and they don't care about the details.

Maybe this is true for the dumb money. Smart money has a big interest in hard money.

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[MultiVerse]

Maybe this is true for the dumb money. Smart money has a big interest in hard money.

Sure, as I've already mentioned crypto has other functionality but keeping it real your grandpa is playing, your sister is in, and so are your neighbors. As lots of lotto players in this thread have essentially said the volatility is what makes it fun. Bitcoin is more volatile today then it was when its market cap was several hundred times lower:

Bitcoin’s volatility shows a pattern of increasing during bull markets and early bear market cycles, to then slowly fall and stabilize. Bitcoin’s volatility today shows less extreme events than in the early days of 2012-2014, but its median volatility is not much lower. Remarkably, Bitcoin has been considerably more volatile than the year 2016 in recent years, and the current 90% quantile of the last 12 months show Bitcoin being more volatile than the year 2015, when Bitcoin’s marketcap was 300 times lower than today.

https://marcogiglio.github.io/digita...olatility.html

The volatility is drawing people in and also keeping it from resembling 'hard money.'

[Meathelmet]

Meh, no one really listens to that dickhead anyway.

Dickhead? Absolutely.

But a man with the hand in the pocket of the Man (Palantir, etc) he has a disproportionate leeway behind the scenes, affecting policies.
Ignore him at your own peril.

[shera]

I don't know anything about Thiel, but Pomp called him a maxi.

[MontuckyFried]

BAT launching again today! Woot woot!!! Getting close to tripling my money on it within just a couple months. Not too shabby!!!
https://www.coinbase.com/price/basic-attention-token

And now with the bump up today, I've made close to $3 in about a week by using my Brave browser. About $8 total since I've started using it. You homies seriously need to use this thing if you aren't already. Otherwise, you're just giving away the money that should be yours to Google et al. 70/15/15 split btw, with YOU receiving 70% of the ad revenue from what you're shown.

[Kevo]

Brave is a cool idea, but I'd rather use Ghostery and block all trackers and ads and pay for things like Youtube Premium and Spotify Premium to not be served ads.

One can have an ad free life for fairly cheap. It's worth it.

[MakersTeleMark]

BAT launching again today! Woot woot!!! Getting close to tripling my money on it within just a couple months. Not too shabby!!!
https://www.coinbase.com/price/basic-attention-token

And now with the bump up today, I've made close to $3 in about a week by using my Brave browser. About $8 total since I've started using it. You homies seriously need to use this thing if you aren't already. Otherwise, you're just giving away the money that should be yours to Google et al. 70/15/15 split btw, with YOU receiving 70% of the ad revenue from what you're shown.

What I'm going to tell you is going to blow your mind. For the small price of 0.1 ETH to my account at wagyuotoro.crypto it too can be yours.

[stalefish3169]

Great read on where we're at in the bull market.

https://twitter.com/ByzGeneral/statu...017354240?s=09

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[Kevo]

Is anyone chasing the coinbase IPO? I feel like it'll be a frenzy.

[MakersTeleMark]

Is anyone chasing the coinbase IPO? I feel like it'll be a frenzy.

Fuck no. Let those dirty money people eat themselves.

[shera]

Great read on where we're at in the bull market.

https://twitter.com/ByzGeneral/statu...017354240?s=09

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Thanks! That was great! I can't tell you whether the market is going up or down, but I am selling above 62k and I am buying below 50k. So bring it!

Is anyone chasing the coinbase IPO? I feel like it'll be a frenzy.

I want to own it, but will not yolo in on day one. Seen way to many pump and dumps. I will watch the price action and maybe buy shares slowly to dca.

[jm2e]

Any reason to think a Coinbase stock will be any less volatile than the crypto market it’s based on?


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[shera]

Any reason to think a Coinbase stock will be any less volatile than the crypto market it’s based on?


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I've been in crypto for several years now and I'm comfortable with making some swing trades, so I like volatility, particularly to the upside.

Also,

"At its heart, modern portfolio theory makes (and supports) two key arguments: that a portfolio’s total risk and return profile is more important than the risk/return profile of any individual investment, and that by understanding this, it is possible for an investor to build a diversified portfolio of multiple assets or investments that will maximize returns while limiting risk."
https://www.acorns.com/money-basics/...tfolio-theory/

[shera]

ELI5, bitcoin mining and energy:
https://cryptonews.com/exclusives/a-...ining-9869.htm

[MontuckyFried]

Wowzers! My silly Dogecoin balance just asploded yesterday! Finally broke through that $0.055 barrier that's supposedly been holding it back for a while. Got up to $0.078 at one point. I think I bought in somewhere around the $0.044 price point. Nice!

[SHarmon]

Is Bitcoin better than Fiat? For the first time in history, money is separated from the state. This brings a whole new era of financial sovereignty as we know it.

[MultiVerse]

ELI5, bitcoin mining and energy:
https://cryptonews.com/exclusives/a-...ining-9869.htm

No amount of greenwashing and disinformation can cover up the staggering negative environmental impact from proof of work algos:

• Bitcoin is incredibly inefficient
• BTC is mainly driven by fossil energy
• Any mining connected to the grid, even if the grid has a mix of renewables, increases the use of dirty power
• Even mining based entirely on renewables has a considerable opportunity cost
• BTC is not battery, it is burning extra energy not storing it
• Crypto mining energy usage averages 32% higher kWh than the average kWh energy usage for all other things in America
• Crypto mining energy usage increases with price, which mean it getting worse
• Specialized BTC mining hardware is single purpose and quickly becomes obsolete generating thousand of tons of waste each year. Bitcoin starts dirty and stays dirty.

This is fundamentally a physics problem and there's no escaping it. The good news is any cryptocurrency based on proof of work is outdated because better much more efficient alternatives now exist.

[stalefish3169]

Thanks! That was great! I can't tell you whether the market is going up or down, but I am selling above 62k and I am buying below 50k. So bring it!



I want to own it, but will not yolo in on day one. Seen way to many pump and dumps. I will watch the price action and maybe buy shares slowly to dca.

You're welcome.

When you say selling above 62 is that on short term capital gains holds or long term? I'm trying to hold on to my long term BTC, ETH, and others as much as possible right now just in case we get anywhere near Willy Woo's 300k BTC bull run top prediction.

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