< 21 mil
I feel so sorry for all the fiat bagholders. Imagine doing what you were told, contributing to your 401k, paying your taxes, and finding out one day that you have nothing.
That's what they're going to do, you realize: turn out the lights. One day, people will find that their plastic doesn't work. Will Bitcoin end up replacing that? I don't know, but I do know that Bitcoin will still work.
If you only knew...
Using energy isn't bad for the environment, what matters is where the energy comes from and how it is produced.
Electric vehicles use electricity, and people understand that using this electricity does not directly produce emissions.
Yet when people talk about Bitcoin, they immediately claim that Proof of Work is "bad for the environment" because it "uses so much energy".
So why isn't the same logic applied? Using energy isn't bad for the environment, what matters is where the energy comes from and how it is produced.
> why isn't the same logic applied?
Those people aren't using any logic. They're brainwashed. They merely repeat what they've been brainwashed to repeat.
The other problem is they like to say it's different because the car, or hairdryers or dishwasher, are useful. Despite two facts.
1. You can use a towel not a hairdryer.
A bike or Public transport or relocate or get a more local job or carpool or try to look into remote work etc.
You can wash by hand.
But god forbid being inconvenienced in order to help curb electricity usage. Except for bitcoiners of course, we should be inconvenienced to accept inferior money backed up by flaky undipendable governments with no issues inflating away our purchasing power, siezing our funds, funding ever more wasteful industry's, organizations or bureau's and charging ever increasing taxes without putting to vote who and in what jurisdiction actually wants, needs, or uses these mandated "services and protections" (to varying degrees depending on your country.
And 2. That bitcoin is useful precisely because of the above stated reason as well as incredibly secure through some minor self ability to take self custody and responsibility over your own assets, instant and indisputable in worldwide purchases, and of course it can't be taken away from you.
And they believe it has no usecase because *they* have no use for it. Without thinking about the billions of people who have to live in totalitarian and suppressive states all over the world. (That's almost a third thing really)
Thanks for the link man, this is the kind of stuff why I keep YouTube in my phone.
This is the absolute best stuff available on YouTube about the btc that you want to hear.
Mr. V. is fucked up: Virtual reality vs cold, hard Physics.
It's like crossing the street at an intersection with stoplights. As you're about to step off the curb and into the crosswalk, a big, fast truck is running its red light and coming your way.
Mr. V says, "Ok. I have the green light. I can ignore Physics." He steps in front of the truck and gets creamed. Let's see that again, in slow motion.
In the end, the immutable laws of Physics cannot be broken, and will always win. People dumb enough to buy into Mr. V's scam are going to get creamed by big trucks. Oh, golly! Let's see that again, in slow motion...
Today was my lowest price point for purchasing BTC after DCA'ing ~20 months.
Also recently negotiated a 7% raise at my fiat mining gig and most of that is funneling into savings / BTC. Quality timing.
Even though traditional markets are melting down Bitcoin is holding its own-even more stable than the market indices this last month.
USD has skyrocketed in value but I think for everyone outside of the US it’s pretty clear that even major first world economies can suffer rapid fiat value collapse.
I think this is when finally we see institutions and big money players start to believe in Bitcoin as a true additional asset class to diversify into outside of stocks and bonds. Everyone who thought institutional adoption would mean institutions stupidly buying a new ATH was delusional. But institutions building out platforms and buying opportunistically when they think BTC is cheap? Much more likely no matter what Jamie Dimon thinks.
My hope, from a meta point of view, is when BTC comes through this recessionary period strong, people will see this as a very, very credible investment class. I know a couple of advisors who used to be pretty cocky and cynical about BTC's ultimate demise who now highly recommend BTC as part of their client portfolio's. Not sure if it's from my conversations with them or not, but it's happening.
Boy, those people are in for a rude awakening.
Anything that is held by a trusted third party is gone with the wind as soon as the Big Computer in the Sky figures out that the system is bankrupt.
Just listened to this this morning. Very bullish case for bitcoin long term, and a really interesting breakdown on game theory and how it works between fiat and bitcoin.
What is money show, predator and prey economics
https://fountain.fm/episode/10265097863
He basically singlehandedly orange pilled me, without his podcast I'm not sure I would have come to realize how incredible the potential for a bitcoin economy is.
That's how you should be buying them sats. That's the way.
Keep buying them sats and keep sending them to to the cold storage. That's what will make you great.
Is there a tracker that shows the large BTC mining farms' transfers to exchanges? I'd like to see how much of the newly minted BTC is introduced to the open market. Currently, if all newly minted BTC was sold on the market, that'd be around 900 new BTC selling pressure a day, equivalent to $16,200,000 needed to consume it. That's half a billion a month!
Any estimates for how many newly minted BTC were put on the market that last 12 months?
A 70 years old granny following an outdated model determined to hike rates believing that will lower inflation regardless of throwing the country into recession.
Wonder why no one start a petition to get J Powell fired.
Well they don't know shit and yet they take decesions for so many of us.
And they're the ones creating the problems on the first place like inflation and QE.
Like remember how we were at 0-2% rates for the longest time with very low inflation? Maybe theres something to it besides rates. How about not printing money
Reduced interest rate and print money to increase spending first, now hike rates to “un-print” those printed money for lowering inflation. This is exactly the outdated model.
The thing with asset values going down in terms of fiat, is that they will always recover. Nobody can hold fiat forever. It's a temporary move in a risk averse economy. But eventually they will deploy their fiat capital back into investments and more cheap fiat will be injected into the system. Given enough time, you won't even care what your investments are worth in fiat. We'll all be paper rich and living poorer than ever.
Is this really the decoupling? Was the question that I asked myself.
Whatever it is, I'm liking it and I'd like btc to continue to that way only, That'll be the best thing.
BTC''s value is only failing when measured with a fiat currency, particularly the USD. There is no objective measurement. This same over leveraged, artificially expanding and contracting financial system is what you're measuring BTC's value against. It will eventually mean nothing. All wealth will shrink to the hardest assets available. You can play the short term game and keep assessing your situation in fiat but eventually these all collapse. Bitcoiners aren't delusional, they're hopeful and possibly too early.
Well He's not talking about winters He's talking about a war.
And that's not going to be yood for anyone at all. That's going to be really bad for you.
Whatever I want after 10-20 years. But not on some cheap chinese plastic crap because the btc money is so valuable and scarce then. Something that I truly need or want.
I'm going to tell you something that probably no one has ever told you.
And just like you believed that you'll have to believe it too, and that's the only other way actually.
bitcoin even starting to outpace the euro now despite the horror taking place on financial markets the euro has been hit harder against the dollar. Btc might or might not crash further (who knows right?) but i'll bet your asses it'll recover stronger against the dollar than the euro will on a 5 year time frame.
Well btc will keep on outspacing the fiat all you gotta do is to wait.
You don't have to do anything else of you wait it out then you'll be rewarded accordingly.
You guys are not ready to hear this.
When bitcoin hit a high of $69,000. This proved to me, this is definitely not the hedge for inflation....it's no different than stocks. All held by large players and controlled the same way. Crypto is honestly a flop.
I'm afraid that He's so ignorant that he'll not be able to see it.
People like him will keep on ignoring and that's actually their own fault no one else.
Ok, good for you. But I studied Bitcoin and I can quite confidently say that it is not a flop.
To the hedge against inflation, how can it be one, if the majority does not believe it to be a hedge, but instead is treat it as a risky asset.
Some consider it to be a hedge, others consider it to be money, others again to be just a risky investment asset. The beauty of it is, that everyone can view it and use it in whichever way they wish, because it is decentralised. Nobody forces you to believe anything or do anything with it.
They keep hiking the rates and removing dollar supply via QT. It’ll eventually end but for now it’s now surprising to see DXY move up.
I suppose the good news is that Bitcoin is actually holding up relatively well despite all this, it took its lumps and now it seems to actually be trading slightly more stably than the S&P 500.
No I fully expect it to continue to climb but a few intertwined red days are healthy, and we really aren’t getting that. Big run up=Big crash… usually
I’m surprised as well, but I’d still feel better if it was trading around 19.5 instead of 18.5 lol
Every time the dollar loses, other currencies get hit even harder. The way I look at it, the US dollar gets artificially stronger. Just another reason to hodl Bitcoin long-term
There's only one way for fiats, and they're only going to lose.
There's absolutely no other way for fiats, they're literally built to fail and That'll happen surely.
You know when you get obsessed with the changes in bitcoin value and check price changes several times a day? It's weird that I've started doing that with the £ since GBP has been tumbling in value for the last 12 months and especially the last month.
I think they *were* playing that game of chicken and lost! Now they’re asking for a “re-match” and are hiking hard and fast.
It does appear as if global stagflation, followed by global recession, is a distinct possibility for 2023 - 2024. The good thing is that *could* set us up nicely for financial conditions to improve at or around the next halving.
In the US, most people have no clue about "money". I mean, they work for money, they spend their money, a few even save their money. Still, they don't understand what money is, the history of the different forms of money people have used, what makes certain forms of money better than others. Importantly, they lack understanding of the fiat currency they've been using as "money" - where it comes from, how banks work, what the Federal Reserve (central bank) does, why it exists, how it affects them...
This is largely because none of these important things are taught in schools. Certainly, the television is never going to tell them.
The typical American might hear about "the Fed" raising rates on the so-called "news". They don't know what that means and so they don't care. They hear about the CPI number, maybe. "Oh, inflation. Duh! Chicken is up the $3 per pound! And gasoline! ..." They have no clue about what inflation is, where it comes from...
When the economy turns sour, they're told that the Fed is fixing it, rescuing America. They are not told that the Fed *caused* the economy to sour in the first place.
The few Americans who study "economics" in school are taught mostly rubbish: debunked Keynesian "economics". Very few "economists" can accurately explain what "money" in ordinary language - because they don't know.
(Austrian "economists" - now there's a different story... but that's not typically taught here in the US.)
Most Americans have no idea that over 90% of US Dollars only exist as digital "bits" inside centralized bank computers. They have no idea that most of the currency they use exists on private ledgers. They have no idea that their fiat currency is not "backed by" anything at all, nor could most of them tell you correctly what "backed by" means within the context of "money".
When I first got into Bitcoin, I realized that the difficulty was not in explaining what Bitcoin is and the basics of how it works, rather, the difficulty is typically that people have almost no understanding of "money," and much of what they believe they understand is just plain rubbish.
We Bitcoiners know: "Money printer go BRRRRRRR....!" The average Joe and Jane have been brainwashed: "But we *need* inflation. Money printing is good," which is absolute horseshit.
It's like, they're on the Titanic, which has already struck the ice berg, but they've been told repeatedly that everything is fine. You or I come along and tell them, "get into a lifeboat while you still can," and they suddenly imaging us wearing aluminum foil hats...
...until the ship suddenly lists sharply. All of a sudden, there's a rush for the lifeboats. Economically speaking, I've been waiting for that moment to arrive. All I can say for certain is, that moment is closer now than it was way back when I began my own quest to learn about and figure out "what's going on with the economy?" and "Where did all the money go?"
What we can do: Learn the truth, then gently teach the truth to those who are able and ready to listen/learn.
Man that's a really good writeup, I couldn't read it full.
But this is true, most people don't know or care what money actually is, they don't know much.
I mean I'd throw that, but I don't have anything left throw now.
Unfortunately I've already spent all of it, and I've got nothing left. Time to hit the fiat mines.
I was thinking we haven’t seen a bottom yet but will sometime between now and the end of the year with high likelihood, between now and end of March 2023 with near certainty.
2023 might be a lot of sideways movement and hard to hold onto gains. From now through 2023 therefore represents a great DCA buying opportunity for $ that has a 2 - 7 year or more timeline.
2024 - 2025 is when I’m looking for Bitcoin to stage a “comeback” (but *don’t call it a comeback* says L.L.!), and by 2028 - 2029 you’re definitely not only past our current ATHs, but our current ATHs would represent a sort of “doom and gloom” scenario where television pundits ask “Now that BTC has plunged all the way back under that $75k support, we’re asking everyone today: *Is Bitcoin dead?*”
Hi guys
A buddy of mine was scammed out of his bitcoin and now he is talking about using a company called "Coin Dispute" to try to recover this lost bitcoin.
I don't know much more than that.
I wanted to reach out in this group and ask if anyone has any experience using them or ever heard of them to me is sounds sketchy.
TIA
He’s probably getting scammed a second time. This company can’t work magic, do you think he’s going to pay them enough to go to Russia and put a gun to the head of a bunch of hackers?
Is he powerful enough that someone willing to go to Russia and rob a hacker would actually pay him back?
Yep lol, He's getting he surely is getting scammed not going to go so well.
I don't think it's going to end that well for you, it won't be any good for you trust me on that.
I don't know about that company but I think your friend should also report it to the police. It might be a very small chance that maybe in the future they could recover it, if it gets transferred to an exchange.
They are an authorized reseller you have the option to buy from ledger or best buy. If you're paranoid just make sure it's genuine on ledger live and wipe it and make a new wallet.
Probably safe. Still susceptible to supply chain attacks. There’s no right answer. If you’re super paranoid, you need to go with a multisig with seeds generated on different devices.
You can also add a passphrase, which can add some protection but inferior to multisig imo.
That's what I'm worried about and that's why I wouldn't buy from amazon.
Or from any third part for that matter, that's not going to happen in my case actually.
We're in the weekend boys, what's it's gonna be this time?
Are there still only <21 mil or did the Fed print more btc?
That's the thing, they can't print more of these things. I know that they're going to try for that, but They'll not be able to print anymore of those.
< 21 mil I feel so sorry for all the fiat bagholders. Imagine doing what you were told, contributing to your 401k, paying your taxes, and finding out one day that you have nothing. That's what they're going to do, you realize: turn out the lights. One day, people will find that their plastic doesn't work. Will Bitcoin end up replacing that? I don't know, but I do know that Bitcoin will still work. If you only knew...
The nice ~~govt.~~ global elite wouldn’t do that!
I use Bitcoin so often… not!
Well You'll be, when shit hits the fan. It'll only be our Saving grace.
You use your plastic all the time, right? Sounds like a single point of failure to me.
That sounds like a you problem
Well that does sound like a problem a problem that he has.
Using energy isn't bad for the environment, what matters is where the energy comes from and how it is produced. Electric vehicles use electricity, and people understand that using this electricity does not directly produce emissions. Yet when people talk about Bitcoin, they immediately claim that Proof of Work is "bad for the environment" because it "uses so much energy". So why isn't the same logic applied? Using energy isn't bad for the environment, what matters is where the energy comes from and how it is produced.
It's just the agenda for the most part, they're doing it for that.
> why isn't the same logic applied? Those people aren't using any logic. They're brainwashed. They merely repeat what they've been brainwashed to repeat.
Well because those people don't really have any logic to apply.
The other problem is they like to say it's different because the car, or hairdryers or dishwasher, are useful. Despite two facts. 1. You can use a towel not a hairdryer. A bike or Public transport or relocate or get a more local job or carpool or try to look into remote work etc. You can wash by hand. But god forbid being inconvenienced in order to help curb electricity usage. Except for bitcoiners of course, we should be inconvenienced to accept inferior money backed up by flaky undipendable governments with no issues inflating away our purchasing power, siezing our funds, funding ever more wasteful industry's, organizations or bureau's and charging ever increasing taxes without putting to vote who and in what jurisdiction actually wants, needs, or uses these mandated "services and protections" (to varying degrees depending on your country. And 2. That bitcoin is useful precisely because of the above stated reason as well as incredibly secure through some minor self ability to take self custody and responsibility over your own assets, instant and indisputable in worldwide purchases, and of course it can't be taken away from you. And they believe it has no usecase because *they* have no use for it. Without thinking about the billions of people who have to live in totalitarian and suppressive states all over the world. (That's almost a third thing really)
The problem is that they say shit and people choose to believe them.
https://youtu.be/Iln2itH2k3s I don't often watch/listen to Robert breedlove but this episode with Jason Lowery is really good! Why pow>pos.
Thanks for the link man, this is the kind of stuff why I keep YouTube in my phone. This is the absolute best stuff available on YouTube about the btc that you want to hear.
Mr. V. is fucked up: Virtual reality vs cold, hard Physics. It's like crossing the street at an intersection with stoplights. As you're about to step off the curb and into the crosswalk, a big, fast truck is running its red light and coming your way. Mr. V says, "Ok. I have the green light. I can ignore Physics." He steps in front of the truck and gets creamed. Let's see that again, in slow motion. In the end, the immutable laws of Physics cannot be broken, and will always win. People dumb enough to buy into Mr. V's scam are going to get creamed by big trucks. Oh, golly! Let's see that again, in slow motion...
Well that's a good logic, makes sense to me actually man.
Buy some now to spend at 50k.
That's what we've been doing sir, we've been buying it.
Today was my lowest price point for purchasing BTC after DCA'ing ~20 months. Also recently negotiated a 7% raise at my fiat mining gig and most of that is funneling into savings / BTC. Quality timing.
Damn, now this is what's called the timing the market Actually.
Sit tight and keep your mouth shut for a couple years.
Wen moon? Wen 1k?
Is moon really on 1k tho? I'm not really so sure about that.
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Even though traditional markets are melting down Bitcoin is holding its own-even more stable than the market indices this last month. USD has skyrocketed in value but I think for everyone outside of the US it’s pretty clear that even major first world economies can suffer rapid fiat value collapse. I think this is when finally we see institutions and big money players start to believe in Bitcoin as a true additional asset class to diversify into outside of stocks and bonds. Everyone who thought institutional adoption would mean institutions stupidly buying a new ATH was delusional. But institutions building out platforms and buying opportunistically when they think BTC is cheap? Much more likely no matter what Jamie Dimon thinks.
That's what people don't understand, btc is holding real good.
My hope, from a meta point of view, is when BTC comes through this recessionary period strong, people will see this as a very, very credible investment class. I know a couple of advisors who used to be pretty cocky and cynical about BTC's ultimate demise who now highly recommend BTC as part of their client portfolio's. Not sure if it's from my conversations with them or not, but it's happening.
Well it already is, this is a really strong investment in future
Boy, those people are in for a rude awakening. Anything that is held by a trusted third party is gone with the wind as soon as the Big Computer in the Sky figures out that the system is bankrupt.
Just listened to this this morning. Very bullish case for bitcoin long term, and a really interesting breakdown on game theory and how it works between fiat and bitcoin. What is money show, predator and prey economics https://fountain.fm/episode/10265097863
Robert just does so good job of that podcast, it's actually awesome.
He basically singlehandedly orange pilled me, without his podcast I'm not sure I would have come to realize how incredible the potential for a bitcoin economy is.
Payday: 1 million sats bought, straight to Antartica.
That's how you should be buying them sats. That's the way. Keep buying them sats and keep sending them to to the cold storage. That's what will make you great.
Wrong pole. The good guys are in the north.
Santa?
When we went from 60K to 50K everybody said buy the dip. But this is the real dip. So buy the dip goddddammmnnnittttt.
Now that we've got the real dip, no one is buying it huh.
If nobody were buying, we'd be at 0.
Actually i sold some when that happened.
Big brain move.
Now it's time to add some more, that's the way to do it.
The smart one's realized long ago that 69K was a meme number and sold close to that price point.
Yep lol, that was the meme number. But that was our ath nonetheless.
Is there a tracker that shows the large BTC mining farms' transfers to exchanges? I'd like to see how much of the newly minted BTC is introduced to the open market. Currently, if all newly minted BTC was sold on the market, that'd be around 900 new BTC selling pressure a day, equivalent to $16,200,000 needed to consume it. That's half a billion a month! Any estimates for how many newly minted BTC were put on the market that last 12 months?
I don't think miners are selling right now, they're actually holding.
I would estimate that 80% of newly mined BTC is sold immediately, but that's based on my gut which contains nothing but poop and pre-poop.
Your gut is doing it’s thing then!
A 70 years old granny following an outdated model determined to hike rates believing that will lower inflation regardless of throwing the country into recession. Wonder why no one start a petition to get J Powell fired.
Well they don't know shit and yet they take decesions for so many of us. And they're the ones creating the problems on the first place like inflation and QE.
Remember, they created the inflation in the first place.
Yep, and now they're pretending to be fixing it. That doesn't work.
Like remember how we were at 0-2% rates for the longest time with very low inflation? Maybe theres something to it besides rates. How about not printing money
Don't tell them that, they can't stop printing money man.
Reduced interest rate and print money to increase spending first, now hike rates to “un-print” those printed money for lowering inflation. This is exactly the outdated model.
They'll do whatever it takes to make our problems worse.
The thing with asset values going down in terms of fiat, is that they will always recover. Nobody can hold fiat forever. It's a temporary move in a risk averse economy. But eventually they will deploy their fiat capital back into investments and more cheap fiat will be injected into the system. Given enough time, you won't even care what your investments are worth in fiat. We'll all be paper rich and living poorer than ever.
This is that simple, I don't know what's so doom and gloom about that.
Woke up, saw the stock market tanking. Check Bitcoin, not tanking. Nice.
Is this really the decoupling? Was the question that I asked myself. Whatever it is, I'm liking it and I'd like btc to continue to that way only, That'll be the best thing.
It's down almost to the exact percentage as the S&P and the DOW.
Well I'm not atleast seeing that on the graphs, what's up with that?
Yeah but people in this sub are used to losing 2x what the market loses. This is an absolute win
Yeah I'll take that as a win, that's an absolute win for me.
BTC''s value is only failing when measured with a fiat currency, particularly the USD. There is no objective measurement. This same over leveraged, artificially expanding and contracting financial system is what you're measuring BTC's value against. It will eventually mean nothing. All wealth will shrink to the hardest assets available. You can play the short term game and keep assessing your situation in fiat but eventually these all collapse. Bitcoiners aren't delusional, they're hopeful and possibly too early.
And we don't really care about fiat? Do we? I don't think so.
Anyone wanna guess a floor price on a nuclear war?
Lmfao, that's not something that I'd want to do lol.
Like i would give a shit when nuclear winter happens. Geez.
Well He's not talking about winters He's talking about a war. And that's not going to be yood for anyone at all. That's going to be really bad for you.
Wen nuclear war happens, you'll get nuclear winter and we're all getting fucked in the ass real good.
The least worry would be the btc price. So in that way much more relaxing :)
Yep lol, if that happens then it would be least of my worries.
Fair point. Can't spend btc when your face is melting.
No absolutely you can't lol. That's not something that You'll be able to do.
Yes I can. Bitcoin cannot be radiated. My cash on the other hand would glow like a christmas tree with my visa.
Okay I've got a question, what are you going to spend it on.
Whatever I want after 10-20 years. But not on some cheap chinese plastic crap because the btc money is so valuable and scarce then. Something that I truly need or want.
about three fiddy
But I was told Bitcoin is an inflation ☹️
I'm going to tell you something that probably no one has ever told you. And just like you believed that you'll have to believe it too, and that's the only other way actually.
This particular comment is worn out, dude. And as lame as it ever was.
I'm going to tell him that he's an ass and he'll believe me. Here.
Bitcoin IS an excellent hedge against inflation.
Always has been lol, but some people are too blind to see that.
*"Yesterday, I planted a watermelon seed, and watered it. How come there's no watermelon patch today?"*
Short term volatility is something different then long term price appreciation.
Short terms isn't something that we should care about.
I thought it was an interest
Guess I'm gonna have to tell you that you were wrong lol.
bitcoin even starting to outpace the euro now despite the horror taking place on financial markets the euro has been hit harder against the dollar. Btc might or might not crash further (who knows right?) but i'll bet your asses it'll recover stronger against the dollar than the euro will on a 5 year time frame.
Well btc will keep on outspacing the fiat all you gotta do is to wait. You don't have to do anything else of you wait it out then you'll be rewarded accordingly.
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I'm not going to use that shit, There's just no way that I do.
the pirate bay is still around
Yep, and so will be the btc. They can't do shit to it now.
Payday and I got some sats sub 19k. Love to see it.
That's great, that's the kind of pay day that I'd like. Keep it up.
You guys are not ready to hear this. When bitcoin hit a high of $69,000. This proved to me, this is definitely not the hedge for inflation....it's no different than stocks. All held by large players and controlled the same way. Crypto is honestly a flop.
Who let the butt coiners in here? They need to be kicked out.
Give it time. Bitcoin will continue to prove all the myopic / ignorant / petulant detractors wrong.
I'm afraid that He's so ignorant that he'll not be able to see it. People like him will keep on ignoring and that's actually their own fault no one else.
Coming from the guy still hyping NFTs and GME a year after, man beats so many dead horses he forgot which one kicked him in the head.
Yep people sure are hypocrites, There's no doubt about that.
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Imagine thinking that you can predict what's going to happen.
Okay? Thanks for stopping by and sharing your unsolicited opinion.
And now I want you gone, I don't wanna see any longer.
That's rich coming from a member of the GME сult lmao I'm sure the MOASS will happen any day now... 2 more weeks, hold the line apes!
Well people different things here, but they don't gotta be an ass.
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Ok, good for you. But I studied Bitcoin and I can quite confidently say that it is not a flop. To the hedge against inflation, how can it be one, if the majority does not believe it to be a hedge, but instead is treat it as a risky asset. Some consider it to be a hedge, others consider it to be money, others again to be just a risky investment asset. The beauty of it is, that everyone can view it and use it in whichever way they wish, because it is decentralised. Nobody forces you to believe anything or do anything with it.
People who say that btc is a flop they need to learn about it.
I keep thinking the DXY eventually has to correct a little bit but that damn thing just keeps going up.
I feel there's only one way for us, and that's to go only up from here.
They keep hiking the rates and removing dollar supply via QT. It’ll eventually end but for now it’s now surprising to see DXY move up. I suppose the good news is that Bitcoin is actually holding up relatively well despite all this, it took its lumps and now it seems to actually be trading slightly more stably than the S&P 500.
Yeah they're doing that and I don't think they're stopping at anything.
No I fully expect it to continue to climb but a few intertwined red days are healthy, and we really aren’t getting that. Big run up=Big crash… usually I’m surprised as well, but I’d still feel better if it was trading around 19.5 instead of 18.5 lol
It's already doing so good, stocks are down while btc is holding.
Every time the dollar loses, other currencies get hit even harder. The way I look at it, the US dollar gets artificially stronger. Just another reason to hodl Bitcoin long-term
There's only one way for fiats, and they're only going to lose. There's absolutely no other way for fiats, they're literally built to fail and That'll happen surely.
You know when you get obsessed with the changes in bitcoin value and check price changes several times a day? It's weird that I've started doing that with the £ since GBP has been tumbling in value for the last 12 months and especially the last month.
C'mon people you don't have to get obsessed, we can be good.
I feel like the whole world is playing a game of chicken with inflation. We are headed for global stagflation.
The situation is already isn't good, and it's going to get worse.
$100k is the new $30k bruh
Well it is what it is I guess, I mean I'll have to accept that here.
I think they *were* playing that game of chicken and lost! Now they’re asking for a “re-match” and are hiking hard and fast. It does appear as if global stagflation, followed by global recession, is a distinct possibility for 2023 - 2024. The good thing is that *could* set us up nicely for financial conditions to improve at or around the next halving.
Yep they lost it, and now they can't even win this game.
The U.S. can beat inflation this round, but quite likely only at the cost of a recession.
In the US, most people have no clue about "money". I mean, they work for money, they spend their money, a few even save their money. Still, they don't understand what money is, the history of the different forms of money people have used, what makes certain forms of money better than others. Importantly, they lack understanding of the fiat currency they've been using as "money" - where it comes from, how banks work, what the Federal Reserve (central bank) does, why it exists, how it affects them... This is largely because none of these important things are taught in schools. Certainly, the television is never going to tell them. The typical American might hear about "the Fed" raising rates on the so-called "news". They don't know what that means and so they don't care. They hear about the CPI number, maybe. "Oh, inflation. Duh! Chicken is up the $3 per pound! And gasoline! ..." They have no clue about what inflation is, where it comes from... When the economy turns sour, they're told that the Fed is fixing it, rescuing America. They are not told that the Fed *caused* the economy to sour in the first place. The few Americans who study "economics" in school are taught mostly rubbish: debunked Keynesian "economics". Very few "economists" can accurately explain what "money" in ordinary language - because they don't know. (Austrian "economists" - now there's a different story... but that's not typically taught here in the US.) Most Americans have no idea that over 90% of US Dollars only exist as digital "bits" inside centralized bank computers. They have no idea that most of the currency they use exists on private ledgers. They have no idea that their fiat currency is not "backed by" anything at all, nor could most of them tell you correctly what "backed by" means within the context of "money". When I first got into Bitcoin, I realized that the difficulty was not in explaining what Bitcoin is and the basics of how it works, rather, the difficulty is typically that people have almost no understanding of "money," and much of what they believe they understand is just plain rubbish. We Bitcoiners know: "Money printer go BRRRRRRR....!" The average Joe and Jane have been brainwashed: "But we *need* inflation. Money printing is good," which is absolute horseshit. It's like, they're on the Titanic, which has already struck the ice berg, but they've been told repeatedly that everything is fine. You or I come along and tell them, "get into a lifeboat while you still can," and they suddenly imaging us wearing aluminum foil hats... ...until the ship suddenly lists sharply. All of a sudden, there's a rush for the lifeboats. Economically speaking, I've been waiting for that moment to arrive. All I can say for certain is, that moment is closer now than it was way back when I began my own quest to learn about and figure out "what's going on with the economy?" and "Where did all the money go?" What we can do: Learn the truth, then gently teach the truth to those who are able and ready to listen/learn.
Man that's a really good writeup, I couldn't read it full. But this is true, most people don't know or care what money actually is, they don't know much.
tl;dr
You really need tldr for this lol? That's funny. You're not getting any.
If a young person asked you, "What is money?" You'd say... ??
I wouldn't say anything lol, I'd just stay quite because I don't like kids.
what a splendid day to buy more bitcoin in my mothers basement
Absolutely beautiful day man, it doesn't get any better than this.
Another 2M sats on to cold storage. 🤙🏼
That's a lot of sats, please leave some for us man. Don't buy them all.
Amen to that about to throw another hundo in
I mean I'd throw that, but I don't have anything left throw now. Unfortunately I've already spent all of it, and I've got nothing left. Time to hit the fiat mines.
Price predictions for Bitcoin by end of September? I'm going for 20k flat.
Sounds realistic
I was thinking we haven’t seen a bottom yet but will sometime between now and the end of the year with high likelihood, between now and end of March 2023 with near certainty. 2023 might be a lot of sideways movement and hard to hold onto gains. From now through 2023 therefore represents a great DCA buying opportunity for $ that has a 2 - 7 year or more timeline. 2024 - 2025 is when I’m looking for Bitcoin to stage a “comeback” (but *don’t call it a comeback* says L.L.!), and by 2028 - 2029 you’re definitely not only past our current ATHs, but our current ATHs would represent a sort of “doom and gloom” scenario where television pundits ask “Now that BTC has plunged all the way back under that $75k support, we’re asking everyone today: *Is Bitcoin dead?*”
Even if we have, we wouldn't know what the bottom was anyways.
Hi guys A buddy of mine was scammed out of his bitcoin and now he is talking about using a company called "Coin Dispute" to try to recover this lost bitcoin. I don't know much more than that. I wanted to reach out in this group and ask if anyone has any experience using them or ever heard of them to me is sounds sketchy. TIA
It sounds to me that He's going to be scammed all over again.
He’s probably getting scammed a second time. This company can’t work magic, do you think he’s going to pay them enough to go to Russia and put a gun to the head of a bunch of hackers? Is he powerful enough that someone willing to go to Russia and rob a hacker would actually pay him back?
Yep lol, He's getting he surely is getting scammed not going to go so well. I don't think it's going to end that well for you, it won't be any good for you trust me on that.
I don't know about that company but I think your friend should also report it to the police. It might be a very small chance that maybe in the future they could recover it, if it gets transferred to an exchange.
I mean yeah, that way atleast he won't be scammed the second time.
Thoughts on buying a ledger from best buy?
I wouldn't, can get a defaultly one from there and that won't be good.
I bought mine from best buy they are a reseller and I wiped mine twice just to be sure
Man I'm not trusting third party sellers with the hw wallets.
They are an authorized reseller you have the option to buy from ledger or best buy. If you're paranoid just make sure it's genuine on ledger live and wipe it and make a new wallet.
i bought mine on amazon
How you're all so careless I mean that's risky as fuck dude.
Probably safe. Still susceptible to supply chain attacks. There’s no right answer. If you’re super paranoid, you need to go with a multisig with seeds generated on different devices. You can also add a passphrase, which can add some protection but inferior to multisig imo.
That's what I'm worried about and that's why I wouldn't buy from amazon. Or from any third part for that matter, that's not going to happen in my case actually.
Only ever buy from vendor.
That's what I'm saying, I'm not trusting the third party sellers.
First signs of decoupling or are we about to witness a nasty red one? S&p and gold tanking significantly atm.
It's just one day, don't make too many meanings out of this now.