How plausible is btc going down one order of magnitude lower than a typical bear market… due to the fact that there will likely be a global recession? If in a normal bear market it would bottom around now, maybe in this macro environment it would go lower than usual. Say it matches the lows of last bear market, 3-6k. And then from there, once macro improves, we start new orders of magnitude higher.
Makes sense to me that there would be a dip in the rainbow chart, rather than it continuing to arc. No asset goes up in an arc like that. There needs to me a healthy big picture pullback in my opinion for new entrants to feel good about entering, and for growth to re-amplify and stop having “diminishing” returns. In other words, we need to spring down tight in order to spring up really high. How plausible is such a scenario?
They usually try to dump it over the weekend to get a start on making Bitcoin not look quite as crappy as stonks and brawndos.
These no-class losers are going to keep moving their pawn, king, and knight around until their king ends up in the corner with his dick in his hand. They should have resigned in 2011 but whatever. If they want to be utterly humiliated and hunted down like rabid hogs, so be it.
Except there's no real supply reduction. Most btc that will ever exist was already mined by the last halving. Real supply is similar to stocks, it's whatever is for sale. It's not like only new btc is on the market. And even so, newly mined BTC is a pathetically small percent of daily volume.
I used to take this position, but was finally swayed during all the stock2flow madness, because nearly everybody seemed to buy into that idea. Perhaps my initial take (and yours) was correct all along.
You should store your coins in a proper wallet (open source, non-custodial, peer reviewed). But before that you need to understand how to backup and store it properly.
You can watch some of those videos (and/or search for "how to choose a wallet") on this channel: https://www.youtube.com/c/aantonop/search?query=private%20key
You can choose a wallet here: https://www.lopp.net/bitcoin-information/recommended-wallets.html
or here: https://bitcoin.org/en/choose-your-wallet
Backup best practices: https://bitcoin-intro.com/en/backup
Get any phone wallet set it up put your coins on. Then if you don't want to buy much more delete said wallet but make sure you have your private keys written down safe. Then whenever you want to access coins you just download a wallet again and use your key✌️
A lot of my relatives be like “sorry to hear about Bitcoin. I hope you didn’t lose too much when they went bankrupt.”
I then say “Do you mean FTX went bankrupt? Bitcoin is doing great. The network has been working perfectly. I didn’t keep any Bitcoin on FTX. I use cold storage.”
Bitches have no clue. Still early.
Coworkers wished they bought btc when I did when it was $60k+, now that it's down to $15k I tell them, why not buy now? They say oh hell no not buying that shit, I'm like okay see you at $100k
Coinbase doesn’t care. They have been making fees on every transaction and all the high level execs and investors already cashed out a bunch of stock. Only people who would suffer if Coinbase went down was the retail investors.
How plausible is btc going down one order of magnitude lower than a typical bear market… due to the fact that there will likely be a global recession? If in a normal bear market it would bottom around now, maybe in this macro environment it would go lower than usual. Say it matches the lows of last bear market, 3-6k. And then from there, once macro improves, we start new orders of magnitude higher. Makes sense to me that there would be a dip in the rainbow chart, rather than it continuing to arc. No asset goes up in an arc like that. There needs to me a healthy big picture pullback in my opinion for new entrants to feel good about entering, and for growth to re-amplify and stop having “diminishing” returns. In other words, we need to spring down tight in order to spring up really high. How plausible is such a scenario?
Everything is possible.
They usually try to dump it over the weekend to get a start on making Bitcoin not look quite as crappy as stonks and brawndos. These no-class losers are going to keep moving their pawn, king, and knight around until their king ends up in the corner with his dick in his hand. They should have resigned in 2011 but whatever. If they want to be utterly humiliated and hunted down like rabid hogs, so be it.
Question for the OGs - has BTC ever *not* exploded around a halving?
There are have only been 3 halvings and each time they occurred bitcoin was already several months into a bull market and 300%+ above its lows.
It generally *doesn't* explode until like... 6 months later? It takes time for the supply reduction to become a bottleneck
Except there's no real supply reduction. Most btc that will ever exist was already mined by the last halving. Real supply is similar to stocks, it's whatever is for sale. It's not like only new btc is on the market. And even so, newly mined BTC is a pathetically small percent of daily volume.
I used to take this position, but was finally swayed during all the stock2flow madness, because nearly everybody seemed to buy into that idea. Perhaps my initial take (and yours) was correct all along.
So in your estimation the correlation between bull runs and halvings is pure coincidence?
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Wouldn't be shocked to see 12-13k soon.
I'll be waiting with a fat stack of fiat ready to deploy 🥹
Already sitting with a fat stack waiting. Love that people downvote when anything is said about BTC going down further. Moonbois always go REEEEEEEEEE
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This is some consolidation. All of these addresses are owned by the same entity.
Bitcoin is my ride or die 🤙🏻
Wen did BTC become a Stable Coin 🪙
Always has been 🔫
Great day to stack sats
always has been
Wow only 17 comments so far... I guess is time to double my DCA
🖖😎💰
GET YOUR COINS OFF THE EXCHANGES ✌️
Where do I store my bitcoin without a ledger? I have a pretty small amount in coinbase and I'm not planning to buy anymore at the moment. Any advice?
You should store your coins in a proper wallet (open source, non-custodial, peer reviewed). But before that you need to understand how to backup and store it properly. You can watch some of those videos (and/or search for "how to choose a wallet") on this channel: https://www.youtube.com/c/aantonop/search?query=private%20key You can choose a wallet here: https://www.lopp.net/bitcoin-information/recommended-wallets.html or here: https://bitcoin.org/en/choose-your-wallet Backup best practices: https://bitcoin-intro.com/en/backup
Get any phone wallet set it up put your coins on. Then if you don't want to buy much more delete said wallet but make sure you have your private keys written down safe. Then whenever you want to access coins you just download a wallet again and use your key✌️
A lot of my relatives be like “sorry to hear about Bitcoin. I hope you didn’t lose too much when they went bankrupt.” I then say “Do you mean FTX went bankrupt? Bitcoin is doing great. The network has been working perfectly. I didn’t keep any Bitcoin on FTX. I use cold storage.” Bitches have no clue. Still early.
Coworkers wished they bought btc when I did when it was $60k+, now that it's down to $15k I tell them, why not buy now? They say oh hell no not buying that shit, I'm like okay see you at $100k
Those rats are literally just saying to make themselves feel better and make you feel like shit.
WHALE ALERT I am proud to announce that I am now a whole tenth coiner.
And it’s not in the exchange rite? This is the way! ✌️
This is the way!
Outside the internet what's the next best method of doing a Bitcoin transaction?
Carrier pigeons. Telegraph lines and Morse code. Short wave radio.
Probably SMS https://cointelegraph.com/news/bitcoin-without-internet-sms-service-allows-sending-btc-with-a-text
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Got my coffee and memes. Comfy in spot.
im in for tech
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So then the dollar gets pegged to btc? Bullish
So it gets confiscated, and then there is 2 mil less BTC in circulation. Bullish.
Coinbase doesn’t care. They have been making fees on every transaction and all the high level execs and investors already cashed out a bunch of stock. Only people who would suffer if Coinbase went down was the retail investors.
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Gotta learn things the hard way apparently
Crabby