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OT: Bitcoin, Altcoins, NFT's & All Things Crypto

Good essay on what is seen as major flaw in cyber-accounting based on janky electric grids increasingly under attack (as even ineffective US agencies describe). I remember when NYSE went down for half a day and a "faulty processor" was blamed (laughable excuse).

"When the grid fails, what happens to your Bitcoin."

" Imagine: Bitcoin shoots up to a million dollars. You’re a zillionaire! Uh Oh. . . somewhere outside Zaneseville, Ohio, a squirrel takes a final chaw through some old insulation on a wire coming out of a transformer. His head blows up in a blue arc flash, and in a few seconds all the electricity goes out from Chicago to Boston. It turns out that seventeen substations in ten states have blown relays, transformers, and switchgear. Some of those components were forty years old and are now manufactured twelve thousand miles away in a country that doesn’t like us anymore. The replacement parts get held up in a Chinese port. The power doesn’t come back on for weeks. Nobody who lives in the eastern USA can get to his Bitcoin wallet, which is just a virtual entity made of computer code residing in a digital “cloud,” i.e., nowhere real."

It’s called cold storage
 
Ding ding ding
I have a new ledger arriving today. This is my “taking profits” ledger. More of a psychological thing but will set it up, connect to nothing then store it away. I’ll send realized profit in usdc and btc that won’t be redeployed into the market.
 
Staking revenue with an ETH ETF would be a game changer! Crypto dividends. LOL.
FYI, Coinbase has been staking Ethereum and Solana along with some other coins for quite awhile. The only issue was you had a 2 week lag period if you wanted to unstake your Ethereum.
 
bullshit. He should have gotten longer. He bribed politicians and willingly defrauded millions, then proceeded to circumvent the law.
I don't know. 25 years for a non-violent crime is pretty tough. More would have been fine, but this wasn't a slap on the wrists.
 
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That’s right. If you already staked, you were allowed to continue it not add any new staking
I was staked in ATOM, and this was the deal for a month or two, and then I stopped receiving the staking yield. I de-staked.

Do we know NJ's argument against staking?
 
Dude attempted to wield influence over 50% of EE's in the country. And defrauded millions of people and tried to usurp the legal process. Sorry, he's a POS who deserves more.
Weilding influence is not a crime.

Defrauding is obviously. And for that he got 25 years. You can literally kill people and get less.
 
I was staked in ATOM, and this was the deal for a month or two, and then I stopped receiving the staking yield. I de-staked.

Do we know NJ's argument against staking?
NJ's argument is probably.....we are too stupid to understand staking, so nobody is allowed to do it.

The crypto market has been pretty chill for the past few days. I have several open buy orders awaiting the next dip. :)
 
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I was staked in ATOM, and this was the deal for a month or two, and then I stopped receiving the staking yield. I de-staked.

Do we know NJ's argument against staking?

NJ's argument is probably.....we are too stupid to understand staking, so nobody is allowed to do it.

The crypto market has been pretty chill for the past few days. I have several open buy orders awaiting the next dip. :)

 
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Sure hope nobody invents a way to short BTC (or have they😏?).🧅😂🤷‍♂️🤔 Bubble-bursting has historically made some of the biggest fortunes.
You can short BTC and other cryptos on Coinbase. This is via futures trading and is rather clumsy (but it's something). You can also quasi-short BTC by shorting or buying puts for Microstrategy. That's probably a better way option.
 
Sure hope nobody invents a way to short BTC (or have they😏?).🧅😂🤷‍♂️🤔 Bubble-bursting has historically made some of the biggest fortunes.
Plenty of places to short it. It’s been a painful strategy over the last year or so. Its time will come again, but certainly not something I’d try to time. Much more enjoyable to make the money on the way up.

 
You can short BTC and other cryptos on Coinbase. This is via futures trading and is rather clumsy (but it's something). You can also quasi-short BTC by shorting or buying puts for Microstrategy. That's probably a better way option.
To your point (link below)…. I also remember talk of shorting $coin either here or in the Stock thread several months ago. That too has been a painful endeavor to this point.

 
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To your point (link below)…. I also remember talk of shorting $coin either here or in the Stock thread several months ago. That too has been a painful endeavor to this point.

I considered shorting COIN via puts. Luckily i did not.

At some point it’s probably a good option though. Especially with volatility so low.
 
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To your point (link below)…. I also remember talk of shorting $coin either here or in the Stock thread several months ago. That too has been a painful endeavor to this point.

SOL back over $200 and BTC over $70K. After a few weeks of consolidation, is the market getting ready for the next pump?
 
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Plenty of places to short it. It’s been a painful strategy over the last year or so. Its time will come again, but certainly not something I’d try to time. Much more enjoyable to make the money on the way up.

I’ll make an unpopular call that the all-time high for BTC will not be higher than 150K…and if it ever hits 150K look out below! And on a related note, Anthony Scaramucci is going to have to get a real job someday!
 
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I’ll make an unpopular call that the all-time high for BTC will not be higher than 150K…and if it ever hits 150K look out below! And in a related note, Anthony Scaramucci is going to have to get a real job someday!
Would love to hear what your basing your call on.
 
I’ll make an unpopular call that the all-time high for BTC will not be higher than 150K…and if it ever hits 150K look out below! And in a related note, Anthony Scaramucci is going to have to get a real job someday!
So it won’t go up by more than 115%, but if it does it will then go down. Sounds like you’ve got all of the bases covered with this
 
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So it won’t go up by more than 115%, but if it does it will then go down. Sounds like you’ve got all of the bases covered with this
I gave it some room to run due to ample liquidity and FOMO running rampant allowed it to achieve ATHs. I honestly think it will take many years to hit 150K if it ever does at all however.
 
Is BTC worth $3 trillion to you? In the long run it is likely worth nothing.
More. A lot more. We're just scratching the surface of institutional investment. Between the ETF's, halving, and the upcoming FASB accounting change we've only scratched the surface.

ETF's continue to see inflows, despite GBTC bleeding out.
Halving creates a supply shock unlike anything.
FASB makes it easier for corporations to hold btc on their balance sheet.

There's been a Bitcoin saying for some time gradually then suddenly. We've witnessed a lot of gradually...

What do you think it will hit this cycle?
... suddenly is coming. 250-450k would NOT surprise me this upcoming cycle.

And yes there will be drastic pullbacks as people take profit.
 
More. A lot more. We're just scratching the surface of institutional investment. Between the ETF's, halving, and the upcoming FASB accounting change we've only scratched the surface.

ETF's continue to see inflows, despite GBTC bleeding out.
Halving creates a supply shock unlike anything.
FASB makes it easier for corporations to hold btc on their balance sheet.

There's been a Bitcoin saying for some time gradually then suddenly. We've witnessed a lot of gradually...


... suddenly is coming. 250-450k would NOT surprise me this upcoming cycle.

And yes there will be drastic pullbacks as people take profit.
Is there a level where you would take BTC profit? I'm of the mindset to hold and add during the next bear, but I probably should at least pull out my principle and let the pure profit ride.
 
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