Bitcoin....who's gotten into it?

[byates1]

It is the base layer. Sorry this is hard for you. Try and keep up

[J. Barron DeJong]

It is the base layer. Sorry this is hard for you. Try and keep up

What are the desirable properties for something to be used as ‘money’?

Once you have that list, check how Bitcoin performs against it.

[The Nuclear Option]

If it goes up, they are “right”, if it goes down they are “right” as long as it doesn’t stay down forever. That’s the sum total of it.

It’s money, funny money.

[Bunion 2020]

It is the base layer. Sorry this is hard for you. Try and keep up

I think Capilene is superior.

Kind of funny to hear "burn it all down Stalefish" whining about a Fed Chair not supporting the status quo.

Powell is right to downplay 2025 rate cuts. IMO

[J. Barron DeJong]

Kind of funny to hear "burn it all down Stalefish" whining about a Fed Chair not supporting the status quo.

Powell is right to downplay 2025 rate cuts.

Heck, even Krugman whose always on the dovish (low rates) side of Fed policy was like “they didn’t really need to cut today”.

[MakersTeleMark]

Powell is the definition of status quo. I don't have a problem with it. He is the most predictable fed chair in history.

[summit]

Someone explain why Powell saying he'll take it easy on future rate cuts makes BTC go down 4.5%?

[J. Barron DeJong]

Someone explain why Powell saying he'll take it easy on future rate cuts makes BTC go down 4.5%?

Because it failed as an inflation hedge, so it’s now an anti-inflation hedge?

[byates1]

Someone explain why Powell saying he'll take it easy on future rate cuts makes BTC go down 4.5%?

It'll be 110 2 days from now

[J. Barron DeJong]

It'll be 110 2 days from now

That doesn’t answer the specific question of why it moved in respond to Fed policy/statements.

[MakersTeleMark]

Someone explain why Powell saying he'll take it easy on future rate cuts makes BTC go down 4.5%?

Because we needed a price correction, it was already priced in, and it's always just too easy to follow stonks. -4.5% is like me taking my morning poop. BTC doesn't need a reason to go up, just to go down. Learn that and it will save you a lot of grief.

[byates1]

Jong has earned his participation trophy today.

[J. Barron DeJong]

Jong has earned his participation trophy today.

How many times you going to recycle that one?

[stalefish3169]

I think Capilene is superior.

Kind of funny to hear "burn it all down Stalefish" whining about a Fed Chair not supporting the status quo.

Powell is right to downplay 2025 rate cuts. IMO

That's not what I said at all. But hope you got to make some turns today.

[summit]

BTC doesn't need a reason to go up, just to go down.

No offense, but doesn't that sounds like the very definition of bubble-think?

[up an down]

No offense, but doesn't that sounds like the very definition of bubble-think?

The BTC cult group think bubble is impossible to puncture

[MakersTeleMark]

I fully admit that our entire financial system is a bubble of blow hards, and I play with that in mind. Crashes and bursts happen a few big times in every generation in every market for various reasons. I could name a ton.

What differentiates this crytpo cycle is that the crypto OG's, miners, and retail sacrificed their ability to move markets by sentiment, concerted action, asymmetric knowledge of a niche market and tech, short squeezes, etc. in favor of deep institutional liquidity, synthetics, and governmental policy.

It is what it is. Just more chips on the table to have to play with IMHO, and it makes it more interesting, but perhaps less "altruistic" in some peoples' minds. IGAF.

Again, you can want to be "right", or you can make money. I also DGAF about your choice. Most importantly, unlike so many posters in this thread, I don't judge you or have the mental space or desire to argue about something so stupid.

[JimmyCarter]

I fully admit that our entire financial system is a bubble of blow hards, and I play with that in mind. Crashes and bursts happen a few big times in every generation in every market for various reasons. I could name a ton.

What differentiates this crytpo cycle is that the crypto OG's, miners, and retail sacrificed their ability to move markets by sentiment, concerted action, asymmetric knowledge of a niche market and tech, short squeezes, etc. in favor of deep institutional liquidity, synthetics, and governmental policy.

It is what it is. Just more chips on the table to have to play with IMHO, and it makes it more interesting, but perhaps less "altruistic" in some peoples' minds. IGAF.

Again, you can want to be "right", or you can make money. I also DGAF about your choice. Most importantly, unlike so many posters in this thread, I don't judge you or have the mental space or desire to argue about something so stupid.

“We gave up our ability to commit direct fraud to make sure we could find enough bag holders.”

[Bunion 2020]

That's not what I said at all. But hope you got to make some turns today.

50-80 mph winds had me doing other things. Heading down today though, it will either be wind fucked or wind groomed.

[shera]

Did I miss something?

[MultiVerse]

It looks like Haliey speed ran the American dream: leveraging 15 minutes of Fame to create a memecoin and then rug it. Total legend. Looking forward to the Sydney Sweeney / Taylor Sheridan limited series on Paramount Plus :



Haliey Welch, aka Hawk Tuah Girl, has now been gone for 2 weeks and hasn’t dropped any episodes of her Talk Tuah podcast since “going to sleep” after rug-pulling millions in a memecoin

[MakersTeleMark]

She left an "investor" call to take a nap after the rug, what, 2 weeks ago? This is old fud. But good fud nonetheless.

[JimmyCarter]

She left an "investor" call to take a nap after the rug, what, 2 weeks ago? This is old fud. But good fud nonetheless.

Not all reality is fud, and claiming it as such seems a bit cultish.

[MultiVerse]

Yeah, weirdly, FUD increasingly means "something that happened"

[The Nuclear Option]

https://www.forbes.com/sites/digital...ice-bombshell/

https://en.cryptonomist.ch/2024/12/1...on-coin-limit/

“ BlackRock has shocked some in the bitcoin community with a bitcoin explainer video that warns there's "no guarantee" bitcoin's 21 million supply cap won't be changed in the future…
… Bitcoin's supply is fixed at around 21 million, though the last bitcoin aren't expected to be created—via a process known as mining—until around the year 2140, over a century from now.

The number of bitcoin that can be issued is part of bitcoin's code and it would require agreement among those that secure the bitcoin network in return for newly minted bitcoin, known as miners, to change that. If a majority of miners did vote to increase the supply of bitcoin, the network would split, or fork, and the minority would continue to direct their computing power toward the network that is capped at around 21 million bitcoin.”