Bitcoin and Crypto Thread

These are exciting times. What is playing out is what we thought in general, but no one will be able to fathom what will happen, or even the dips that might come at us, but why would you be worried now? If you beat others to the game by putting your time in and doing your homework, that means you are less scared about volatility, and even possibly prepared to snatch up some more if you have dry powder.

We will have some fun, but we will be measured and disciplined. As Saylor says, the Gold Rush has commenced. If I didn't independently come to exactly the same conclusions as he did (and I also started my journey with diamond hands around the time he did), I wouldn't be as convinced as I am. In any case, this is the moment we've been waiting for. So sit back, relax, and enjoy the ride.
 
Blade Runner said:
The other idea that people are sleeping is based on the extraordinary things that happened during the last halving year. They are trying to compare the last halving event and price action when it is not comparable for many obvious reasons. The chief reasons are the covscam issue prior and the ETF stacking that now changes all realities previously unrelated, or unknown.

@Australia Sucks It is a medium of exchange and that's a big part of it, which is obvious. That's part of the innovation/discovery. That it does BETTER with other aspects of its monetary properties doesn't mean that it has to fit your profile or people can't consider it. You're making a category mistake of being more binary when it has all the properties, but has various benefits or is top in certain ones, but not others, necessarily.
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I never said Bitcoin wasn't a medium of exchange. I am just saying as a medium of exchange its not superior to other mediums of exchange at least in the case of small transactions anyway.
 
Anybody have any new thoughts on Pepe? I am thinking of degening a small amount into Pepe as it seems to be the up and coming meme coin. I hope I am not too late to the party.
 
Australia Sucks said:
I never said Bitcoin wasn't a medium of exchange. I am just saying as a medium of exchange its not superior to other mediums of exchange at least in the case of small transactions anyway.
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Yes, and I agree with that. I clarified what the answer is, and apparently you agree. Good.
 
Australia Sucks said:
Anybody have any new thoughts on Pepe? I am thinking of degening a small amount into Pepe as it seems to be the up and coming meme coin. I hope I am not too late to the party.
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In general you have to get in super early and sell after it pumps to make money on a meme coin. If you’re hearing about it on YouTube or whatnot you missed the train . But I do not buy meme coins anyways. Only put money in a meme coin if you want to actively lose every cent of it
 
Australia Sucks said:
Anybody have any new thoughts on Pepe? I am thinking of degening a small amount into Pepe as it seems to be the up and coming meme coin. I hope I am not too late to the party.
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Buy TRUMP. It is on a little bit of a pull back right now from $12 to $9. Once you buy it, diamond hands until Nov. 5th (election night). It is the most likely 100x of the major meme coins. It was listed on BingX today, and it will be listed on MEXC tomorrow.
 
JayR said:
Can I change my answer to the "How high will Bitcoin get in 2024?" poll? 😁
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Yes. It was specifically set up with that enabled, envisaging people would want to do that...

I think 1% of global financial assets in crypto is very much in play.

Some sideways rotation to alts. Possible alt-season?

Does anyone know an interface that gives a fairly up to date picture of ETF in-/out-flows?
 
I found these articles quite interesting - I will post some questions for the crypto gurus here after folks have a chance to digest...

A Difficult Truth: The Unspoken Mismatch of Web3 and Generative AI

Generative AI workloads are designed to be computationally intensive, running on highly parallelizable GPUs. What role does that leave for blockchain? Jesus Rodriguez, of IntoTheBlock, explores one possible solution.

The intersection of generative artificial intelligence (AI) and Web3 is one of the most fascinating trends in the digital assets space. While most people agree that generative AI is likely to play a role in the next generation of Web3 technologies, the specifics are far from trivial. After all, AI was never considered an important building block in Web3 architectures, and the different generations of L1s and L2s were not designed to run AI workloads.

The reality confronted by Web3 technologists when trying to envision adapting Web3 runtimes to generative AI technologies is an overwhelming mismatch in terms of data and computation requirements. Generative AI workloads are designed to be computationally intensive, running on highly parallelizable GPUs. Blockchain runtimes are quite limited in terms of their data and computation capabilities.


And:

Gold Bull Peter Schiff Raises Red Flag For BTC Rally: 'If I Was Long Bitcoin, I Would Be Worried About This Divergence':​

 
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Deepdiver said:

Gold Bull Peter Schiff Raises Red Flag For BTC Rally: 'If I Was Long Bitcoin, I Would Be Worried About This Divergence':​

MSN
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He should be more worried about the gold/BTC "divergence" over the last decade.
Pump It Mic Drop GIF by FullMag
 
BTC Hits Key Resistance Double Top Major (Blue) Fractal Waves 3 & 5.

Major Wave 5 is executing in classic 5 Fractal Sub-waves with a technical impulsing 3rd wave breaking above a Fibonacci 2.618 Extension.
This impulsing 3rd Wave made a resistance wick run up to a new BTC All Time High (69,324) on the Coinbase Exchange.

Double Top Resistance at this level with a strong rejection wick indicates a probable top turn into a .382 Fibonacci retracement of Fractal subwaves one through three of this Major Blue 5th Wave. The .382 target is 48K previous strong Support being the Major Wave 4 B orange subwave top. Currently 62K retrace to 48K is a 14K corrective fractal fourth wave.

Then we turn back up in the 5th Subwave (Orange) of the Major Blue 5th wave with targets in the range 98K to 126K in summer to fall time frame.

YMMV

1709671594706.webp
 
Deepdiver said:
The reality confronted by Web3 technologists when trying to envision adapting Web3 runtimes to generative AI technologies is an overwhelming mismatch in terms of data and computation requirements. Generative AI workloads are designed to be computationally intensive, running on highly parallelizable GPUs. Blockchain runtimes are quite limited in terms of their data and computation capabilities.
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This is another problem to be solved, assuming it can be. But AI is not particularly relevant to the blockchains.

The premise of TAO is that their AI will be an open, decentralised model; as opposed to Google, who are gate-keeping.

The Qubic lead developer who is using an AI mining model says that the coin will need to be about $1T to attract the required capital to produce the necessary hardware for decentralised AI.

It's probably going to take about 20 years of development to get distributed ledgers to the point of being usable and starting real adoption. The decentralised computing question rests on top of that. The internet has solved how to move around large amounts of data. Decentralised computing is something new.
 
Blade Runner said:
He should be more worried about the gold/BTC "divergence" over the last decade.
Pump It Mic Drop GIF by FullMag
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LOL Peter has so many legal hassles in OZ and PR he will be lucky not to die in Prison like his old man.

That said Gold is Pumping Hard above all time high close over 2100 this week with a similar phenomenon to BTC.

Gold is Pumping, BTC is Pumping however the BTC and Gold Miners have not responded in a corresponding manner.

Many Miners (Gold and BTC) actually retraced in value. Could just be a random coincidence or with so many folks selling Gold ETFs to buy BTC ETFs may be a new correlation.

Gold buying at any price accelerating among World's many Central Banks in preparation of BRICs gold backed trade focused currency union.

Irony Gold is pumping even with Retail folks selling Gold ETFs to Buy BTC ETFs.

SEC stalling on the Blackrock ETH ETF approval...

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We didn’t even get that big of a correction today. 69k to 64k but alt coins got absolutely massacred. I bought more Sei, rite and a few others
 
Cynllo said:
Yes. It was specifically set up with that enabled, envisaging people would want to do that...

I think 1% of global financial assets in crypto is very much in play.

Some sideways rotation to alts. Possible alt-season?

Does anyone know an interface that gives a fairly up to date picture of ETF in-/out-flows?
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I have been using this site:

This seems to be the most important chart, unfortunately it hasn't updated for a few days(since Feb 29) despite it saying it has.

By looking at total AUM here you can see how in the first few days of the ETF, the GBTC outflows dwarfed the new ETF inflows, and of course the price of bitcoin dropped. Then GBTC outflows leveled off, the new ETFs kept buying, and the bull run started.
Screen Shot 2024-03-05 at 8.22.02 PM.png

I was wondering if anyone has any good metrics on bitcoin/crypto owners or adoption by age brackets.

As the old financiers of the world die off, their younger replacements will take the reins, and they aren't allergic to new ideas the way Warren Buffett, Charlie Munger and Jamie Dimon are.
 
Have any of you got any knowledge or experience in buying Monero with Bitcoin?

I did this once, anonymously, at not the most wonderful exchange rate - they took a cut. It was a small, test amount, just a proof of concept so to speak.

If I had supplied say a copy of my passport I could have done it at a better rate.

It does feel wrong to say sell the bitcoin for fiat currency, then use the fiat currency to purchase Monero. Still maybe with the cut they may take, that may be better, that's what I'm trying to work out.

Monero is anonymous anyway, but formally identifying oneself for such a transaction is going to just place a further data point of one's own personal information on the Bitcoin blockchain which is already not so anonymous. That's the nice thing about cash, I don't think anyone's tracking it. Even with Bitcoin it's probably rare but you never know what lengths they may go to in the future for the war against wrongthink.

There is the concept of escrow.
but I'm not so sure that can work where the parties are anonymous.

If it were a larger transaction I would much fear being robbed by a crypto cowboy somewhere.

But back to the question - have any of you had good experiences with buying Monero with Bitcoin?

Post or send a PM..

1 BTC currently buys 460 XMR so it may not be a bad time to do it :

btc-xmr.webp
 
stadtaffe said:
Have any of you got any knowledge or experience in buying Monero with Bitcoin?

I did this once, anonymously, at not the most wonderful exchange rate - they took a cut. It was a small, test amount, just a proof of concept so to speak.

If I had supplied say a copy of my passport I could have done it at a better rate.

It does feel wrong to say sell the bitcoin for fiat currency, then use the fiat currency to purchase Monero. Still maybe with the cut they may take, that may be better, that's what I'm trying to work out.

Monero is anonymous anyway, but formally identifying oneself for such a transaction is going to just place a further data point of one's own personal information on the Bitcoin blockchain which is already not so anonymous. That's the nice thing about cash, I don't think anyone's tracking it. Even with Bitcoin it's probably rare but you never know what lengths they may go to in the future for the war against wrongthink.

There is the concept of escrow.
but I'm not so sure that can work where the parties are anonymous.

If it were a larger transaction I would much fear being robbed by a crypto cowboy somewhere.

But back to the question - have any of you had good experiences with buying Monero with Bitcoin?

Post or send a PM..

1 BTC currently buys 460 XMR so it may not be a bad time to do
Click to expand...

I’ve used this to buy Monero with BTC, slippage is pretty low. Seems legit but it wasn’t a huge sum either.
 
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