@Blade Runner do you remember when I posited that Len Sassman was Satoshi? Dr. Jack Kruse says the same on Breedlove’s podcast about 3:02:30 (3hrs into the podcast)
The guy who runs my local Bitcoin meetup also believes Sassaman was Satoshi.
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Yes, the Netflix special was supposed to reveal this. I have my own theory which I've already talked about, that puts the Sassaman thing into doubt, but he could have been involved, of course, to a degree. At this point, all that matters is that Satoshi is out of the picture, which is the case.
New Hampshire and North Dakota introduce legislation for strategic Bitcoin reserves
New Hampshire and North Dakota join the list of US states considering Bitcoin reserves.
www.mitrade.com
Maynard Introduces Strategic Bitcoin Reserve Act to Protect and Grow Oklahoma’s Financial Future
Welcome to Oklahoma's House of Representatives website!
www.okhouse.gov
Batman
Heritage
XRP at all time high.
I am out of a job at the moment and not much left in savings; 65% of my portfolio is XRP but i'm very tempted to hold it a bit longer and convert the rest of my crypto to XRP then everything once XRP hits, say, $4 or $5 and net even more.
If it moons I'm gonna regret selling now.
If it tanks again I'm gonna regret not selling now.
Most logical answer is selling some of it in chunks, but where's the fun in that.
I am out of a job at the moment and not much left in savings; 65% of my portfolio is XRP but i'm very tempted to hold it a bit longer and convert the rest of my crypto to XRP then everything once XRP hits, say, $4 or $5 and net even more.
If it moons I'm gonna regret selling now.
If it tanks again I'm gonna regret not selling now.
Most logical answer is selling some of it in chunks, but where's the fun in that.
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I think this is because there have been some "leaks" about the Trump initiative (SBR) turning into a more crypto strategy, which might include XRP. That would cause some major FUD, I have to say, as it would show that few in the government truly understand the importance of BTC, and the rest of "crypto" which is just centralized speculation coins - as chance stated, fiat projects with highly levered or abusive originators.
Literally everything is at an all time high if you measure in fiat. Dog food: all time high. Eggs, all time high.
Measure in Bitcoin
Measure in Bitcoin
90% pre-mine
This ends badly…Trump could have had a decent legacy but…just another grifter
This ends badly…Trump could have had a decent legacy but…just another grifter
I think Bear market is sniffing at our backs.
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It's hard to believe that Trump's foray into memecoins (which will almost certainly end in disaster) would not tarnish the legitimacy of all cryptocurrency in the public mind, Bitcoin included. The vast majority of people do not measurably distinguish between Bitcoin and other cryptos, they are essentially one and the same. Only zealous Bitcoin maxis ascribe some mystical special significance to Bitcoin. Everyone else just sees it as the most expensive and popular crypto token.
Anyway, this should make it very obvious that Trump has zero interest in actually promoting or utilizing Bitcoin. The Bitcoin that the U.S. Government already owns from criminal asset seizures will simply be renamed as the "Strategic Bitcoin Reserve" in an executive order. That's about the most you can reasonably expect at this point. Trump doesn't understand Bitcoin and clearly doesn't care to, he just wanted to secure the crypto vote and is willing to throw the smallest of symbolic bones for it in return. And now that he has clownishly lended his own name and likeness to the promotion of a scam coin, he has essentially politicized crypto even further in the public mind. And he obviously isn't going to waste his limited political capital defending something he doesn't even actually care about. This makes the idea of an actual Bitcoin Strategic Reserve - with the U.S. Federal government purchasing or mining Bitcoin directly - completely absurd and politically unfeasible. It's not just dead on arrival, it's dead before it even got off the ground.
The idea that Bitcoin will be integrated into the U.S. financial system as anything more than just another speculative commodity will remain a pipe dream of the maxis. Uncle Sam will not be buying your bags. What will happen to the price when that realization sinks in?
What's up with this guy? Apparently he "lost" his bitcoin. I thought BTC couldn't be lost or stolen because it's in a hot pocket behind a firewall?
www.businessinsider.com
A man trying to recover a hard drive containing $750 million of bitcoin from a landfill just had his latest bid rejected
James Howells has been trying to gain access to a landfill site for the past decade, where he believes his hard drive containing a bitcoin fortune is.
www.businessinsider.com
He had no backup and I think this was before BIP39 "seed phrase" was added. Before bitcoin was worth anything, there wasn't a reason to back up wallet files and there was no way to memorize the private key.What's up with this guy? Apparently he "lost" his bitcoin. I thought BTC couldn't be lost or stolen because it's in a hot pocket behind a firewall?
A man trying to recover a hard drive containing $750 million of bitcoin from a landfill just had his latest bid rejected
James Howells has been trying to gain access to a landfill site for the past decade, where he believes his hard drive containing a bitcoin fortune is.
If you lose the private key, you lose the bitcoin.
Yes, this is a good take and I agree with most of it.
Hopefully we get a nice dip in the price too.
It's not mystical. It's Bitcoin's unique attributes that distinguish it from all other sh*tcoins, including $TRUMP coin.
Every day more and more people are understanding the difference between BTC and "crypto," but we're early, so the majority still do not get it.
I agree with Chance -- just like SBF/FTX did a couple years ago, let's hope the inevitable failure of Trump's sh*tcoin tanks the price of BTC temporarily so the "zealous Bitcoin maxis" can back up the truck!
"It's going up forever Scorpion."
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Look, I totally get why you guys believe this. Bitcoin is unique in the sense that it's the OG crypto, which grants it a certain prestige as a "brand" and an indisputably strong network effect. It also maintains a strict adherence to proof of work, with a limited supply and no centralized controlling authority. I understand all of that.
But the thing is, at the end of the day, none of that really matters, because Bitcoin's value still remains entirely rooted in its popularity. It's only as valuable as people perceive it to be, and because it doesn't actually do anything in the real world and is ultimately just a distributed shared ledger computer program, it's value will only ever be based on its perception and popularity. You can tell yourself that "we're still early!" and that more and more people are going to "wake up" and start buying Bitcoin, but this is again nothing more than a faith-based belief. A hope, really, similar to the hope that various governments will nonsensically start up "Bitcoin strategic reserves" and start pumping everyone's bags to infinity.
Trump's coin just serves to paint the entire crypto space as nothing but a scam and a joke, and immediately poisons the crypto well for the entire left half of the country who despise Trump. It's a signal that Trump himself does not take crypto seriously and has no intention of making it a priority in his administration. With the launch of his Trumpcoin, Trump just permanently politicized the entire concept of cryptocurrency in service of a shortsighted greed play. Bitcoin's reputation and its potential to be regarded as a legitimate asset class (much less as a USD replacement) will undoubtedly suffer due to Trump's association with crypto.
Will that just be, as you say, a buying opportunity? Will it just keep going up forever? I'm obviously skeptical of these claims. The Bitcoin train is powered exclusively by hype and shared delusion, and the hype and delusion about the Strategic Bitcoin Reserve idea (along with the MSTR "infinite money glitch") has been the justification for the entire post-election rally. In other words, Bitcoin maxis are always looking for a new story to tell. The narrative about Bitcoin is constantly shifting, but if the Bitcoin reserve idea falls through, where do you go from there? Especially since the absolute gains keep getting lower and lower as the price increases.
Remember that just because Bitcoin has a limited supply of coins doesn't mean those coins are automatically valuable. I have a limited supply of toenail clippings, but no one wants to buy them. Bitcoins are only valuable because people believe they are. And they will only continue to believe this and buy Bitcoin if they are convinced that they can sell their Bitcoin in the future for more than they pay today. And they can only do this if there remains a compelling story about why Bitcoin should remain so highly valued.
So in the absence of the Bitcoin Strategic Reserve, what will be the new narrative that's supposed to pump Bitcoin up to 500k-1m? That's an awful lot of demand to generate, and will require a hell of a story to drive that much delusional euphoria to get people piling in and hodling to those levels. The "inflation hedge" argument alone definitely won't cut it, that's for sure.
And the vast majority of people miss all kinds of things in this world, again, including seeing what BTC is. It doesn't matter what they think, it matter what people who have studied it think, what the realities of BTC are, including its network, use case, and the invention of digital scarcity.
The market disagrees. All other coins are going to zero vs BTC (and so is gold, btw), another inconvenient reality you have to keep trying to talk away.
You use these words because you try to fool others and yourself into maintaining this charade that the market is wrong after 16 years. Its value has to do with its characteristics, like everything else in the world, since humans ascribe value to things.
No one argues that BTC has value JUST BECAUSE it is limited in supply. It has value because of all of the things I've said above, which include being the greatest money ever invented/discovered to this point in human history. You commonly do this, but those of us who know good faith argument and logic don't fall for it. Again, you don't go around telling people, "You know, just because gold is relatively scarce doesn't make it valuable." Same thing, again, not applied to gold. Very common, thus why I yawn as we rehash the same statements that those of us who know what BTC have already debunked at least 10 times on this thread.
So you think btc is established after 16 years but gold can go to zero after 6000 years?
It certainly matters what the broader population thinks if your aim is mass adoption. It also matters if your goal is passing legislation for a Strategic Bitcoin Reserve, which becomes increasingly unlikely if Bitcoin is politically tied to Trump.
Why would gold go to zero even if Bitcoin continues to appreciate indefinitely? That makes absolutely no sense. People would be buying up gold to turn into jewelry long before its value ever reached zero. Conversely, there is literally no floor underneath the price of Bitcoin or any other crypto, since they have no underlying real-world application.
No, people actually do make that argument all the time. You're making it right now, in fact, because that's essentially what you're saying when you claim that Bitcoin is the greatest money ever invented. Why? Because the 21 million limit is literally the only thing differentiating Bitcoin from every other shitcoin on the market. The fact that it is strictly limited in supply is the only reason you can claim it has any value in the first place, which is in turn the only thing that makes it function as a perfect form of money (in your view).