Bitcoin and Crypto Thread

[Blade Runner]

For another token to dislodge Bitcoin it would have to be not just technically superior but an order of magnitude superior. Like 10x superior to Bitcoin. Even if you can make the argument that Monero or some other token is technically superior to Bitcoin (I am not saying that is the case by the way) none of them (including Monero) is 10 times better than Bitcoin, at best they are merely incrementally better.

I've commented on this also above, but there is another level even: BTC is a savings technology, which makes it better money. XMR can be a better payment channel, for obvious reasons, but it won't be a savings technology, and thus the XMR-BTC will keep going to zero. What's more? The privacy part of XMR has a side that will guarantee this: anonymity means in-auditability, or at least uncertainty regarding what is really going on. That is NOT a problem for BTC, where of course that trade off is pseudonymous transactions. The auditable part of it is a requirement though, since that is a clear improvement on gold - yet another one.

 

[Blade Runner]

Also, most people are retarded twats who don't contextually understand the correct value of many things in this world and where they should actually focus their time on in case we're forgetting about the last few years of meme stocks and mRNA vaccines.

The thing you miss about this as well is that this aspect of the world isn't changing, regardless of having BTC or not having it, as before. Like every other disrupter over the years, it ultimately won't matter, because the smart people are what move the money and the world, and the rest follow. Or, we get a lower number of quality people such that the meme and mRNA stuff means less, while debasement of people becomes harder through sounder money. Most things in human life are cascades like this, relatively extremes of all or nothings. Women work like that too, as I've pointed out: you get younger, hotter women who have less mileage and maintain femininity in places where women are good, and mostly fat, loud, obnoxious and old women in the places where they are bad. Notice the imbalance.

 

[eradicator]

Fed just announced a .5% rate cut. That’s pretty huge. It will continue to drop rates later this year and next year

Federal Reserve lowers interest rates by 0.50 percentage points in first cut since 2020

The Fed's decision will lower borrowing costs from a 23-year high as the central bank pivots to shoring up economic growth.

www.cbsnews.com

Basically we will see more borrowing/money printer go brrrr. This will force the price of btc and crypto higher

 

[Blade Runner]

Fed just announced a .5% rate cut. That’s pretty huge. It will continue to drop rates later this year and next year

Federal Reserve lowers interest rates by 0.50 percentage points in first cut since 2020

The Fed's decision will lower borrowing costs from a 23-year high as the central bank pivots to shoring up economic growth.

www.cbsnews.com

Basically we will see more borrowing/money printer go brrrr. This will force the price of btc and crypto higher

I recommend following James Lavish, talks or on twitter, as he will frankly state the degree to which the Fed debt goes up monthly or quarterly. It's amazing how fast it is accumulating right now.

As for the dot plot, we're going to 3% next year, maybe 2.5%, and I foresee this year cutting at least 25 bps more, maybe even twice to get down to 4% FFR.

 

[Teedub]

Quick question - how does one theoretically cash out (very) large sums of crypto? Say if someone had a few million USD / GBP / EUR after selling their crypto into fiat... would it just be a case of taking out the maximum amount an exchange allows each day. Or would it be an OTC service? It would be a nice problem to have, but it's something I've always wondered about.

 

[Blade Runner]

Quick question - how does one theoretically cash out (very) large sums of crypto? Say if someone had a few million USD / GBP / EUR after selling their crypto into fiat... would it just be a case of taking out the maximum amount an exchange allows each day. Or would it be an OTC service? It would be a nice problem to have, but it's something I've always wondered about.

I think it's exchange limits but I am not totally sure.

 

[chance vought]

Quick question - how does one theoretically cash out (very) large sums of crypto? Say if someone had a few million USD / GBP / EUR after selling their crypto into fiat... would it just be a case of taking out the maximum amount an exchange allows each day. Or would it be an OTC service? It would be a nice problem to have, but it's something I've always wondered about.

Once it settles, they can wire any amount on River and maybe Swann (ACH is only $100k per day for me on River)

Keeping in mind anything over $250k is not FDIC "insured" (LOL), and it's fully backed by 0% bank reserves.

In the USA I wouldn't sell into cash, just get a loan and there's no tax hit. Unchained Capital, etc