Bitcoins - about to hit $5,000 per coin today!

[Griffith]

Not Trump, but rather some people who have managed to con Trump's son into paying him a little or giving him a share in their business, which benefits from association with Trumps name. Same with the trump shitcoin. Nothing to be excited about, and if anything, something to be concerned about... Really not much different from the Hawk Tuah girl shitcoin scam.

He also bought some Wrapped BTC on Ethereum 

World Liberty Financial now has $207 million ETH, $47 million WBTC and $15 million staked ETH.

[gib]

He also bought some Wrapped BTC on Ethereum 

World Liberty Financial now has $207 million ETH, $47 million WBTC and $15 million staked ETH.

Not Trump, but rather some people who have managed to con Trump's son into paying him a little or giving him a share in their business, which benefits from association with Trumps name. Same with the trump shitcoin. Nothing to be excited about, and if anything, something to be concerned about... Really not much different from the Hawk Tuah girl shitcoin scam.

[gib]

If Ethereum is so great why is the price not going up?

Same reason many other things which are great and useful also have little price. For example air, rain-water, the English language, etc are free.

The thing is, Eth (and many other competing and alternative smart contract blockchains, all of which can be infinitely produced), are public ledgers which enable digital contracts. Such a function can useful, but such usefulness does not necessarily translate into any fundamental monetary value. And this is where so many people are confused. These types of blockchains, as well as those which represent stakes in projects, and meme coins (essentially nonsense created out of nothing) can be contrasted with BTC (proof of work), which has a MASSIVE monetary value, to the extent it is adopted as a global ledger of wealth (which is indeed exactly what it is taking place now).

[SouJerz]

Well it has not dumped too much today. BTC was $109k a few hours ago and now it is at $104k and actually went down to 101.6k.

There's extreme FUD and negativity directed against ETH, when the fundamentals are great. ETH had decent deflation. Then people bitched about the higher fees. Eth then upgraded via Dencun to lower the fees. Now they are bitching at the inflation. Well, the past day ETH's inflation was -0.819%. Over 7 days it was 0.238%. 30 days 0.448%. That's still a lot less than Bitcoin's current inflation of 0.83% and way less than Solana with its 6-7% inflation. There's a 11.2 million SOL unlock coming in March.

But somehow people will criticize Ethereum's inflation and not Solana's.

Solana still has issues. Look at these Reddit posts:

https://www.reddit.com/r/solana/comments/1i5d74a/is_solana_down_havent_been_able_to_complete_any/

Is solana down? Haven’t been able to complete any transactions in the last hour

last 5 hrs for me lmao. still waiting for my pending transfer to go through 🤦‍♀️

Thanks for the reply man. I sent Solana from coinbase to phantom like 12 hours ago and still nothing. Is it possible to send a tip ?

Solana down trying to get 1.3M out nothing is working

3hrs I’ve been waiting on a transaction to leave Coinbase. How does a whole chain go completely down?

I see Solana choking under 4,000 TPS. SoLaNa brags about 16,000 - 1MIL TPS.

11.5 hrs and still waiting

Ethereum's price is extremely undervalued, due to FUD and BS. But that's often a bullish sign.

Noted

One more question.  If Bitcoin is so “bad” compared to ethereum.  Why does it keep going up?

[Mayday]

Not Trump, but rather some people who have managed to con Trump's son into paying him a little or giving him a share in their business, which benefits from association with Trumps name. Same with the trump shitcoin. Nothing to be excited about, and if anything, something to be concerned about... Really not much different from the Hawk Tuah girl shitcoin scam.

They’re involved. Part of why they reopened the WLFI sale again is to provide some cover for the 200M they just raked in from memecoins sale.

They can’t outright say it’s them for obvious reasons. Not illegal but ethically and morally front running your own future govt policies is questionable. Biden siphoned govt money, Trump siphoning public money 😂

ETH community is gagging over the purchase of ETH while in contrast go look at the Solana network and people are going apeshit because the memecoins just nuked a stack of their shitcoins as liquidity was sucked dry and taken to ETH.

[obsidian]

Not Trump, but rather some people who have managed to con Trump's son into paying him a little or giving him a share in their business, which benefits from association with Trumps name. Same with the trump shitcoin. Nothing to be excited about, and if anything, something to be concerned about... Really not much different from the Hawk Tuah girl shitcoin scam.

Source?

Here's what I found:

https://news.bitcoin.com/donald-trump-announces-world-liberty-financial-launch-were-embracing-the-future-with-crypto/

Donald Trump Announces World Liberty Financial Launch — 'We're Embracing the Future With Crypto'

Former U.S. President Donald Trump has announced the launch of his family’s cryptocurrency platform, World Liberty Financial, positioning it as an alternative to traditional banks. He encouraged users to join a live event on X next Monday. “We’re embracing the future with crypto and leaving the slow and outdated big banks behind,” Trump said.

Donald Trump Announces Launch Event for His Family’s New Cryptocurrency Venture
Former U.S. President Donald Trump announced in a video he posted on social media platform X on Thursday the launch of his family’s cryptocurrency platform, World Liberty Financial.

“Join me, live on Twitter Spaces at 8 p.m., this September 16th for the launch of World Liberty Financial,” he encouraged his followers to join a live event next Monday. Emphasizing the platform’s focus on crypto, positioning it as an alternative to traditional banks, the former president said:

We’re embracing the future with crypto and leaving the slow and outdated big banks behind.

Trump had previously started promoting the platform in August on his own social media platform, Truth Social. “For too long, the average American has been squeezed by the big banks and financial elites. It’s time we take a stand—together,” Trump wrote on Truth Social. The Trump Organization’s crypto venture has gained attention, with Trump’s sons, Eric and Donald Trump Jr., presenting it as groundbreaking in decentralized finance (defi).

[obsidian]

Noted

One more question.  If Bitcoin is so “bad” compared to ethereum.  Why does it keep going up?

Because Bitcoin is being marketed and mentioned everywhere. Youtube influencers place the Bitcoin name in their video titles more so than any other crypto project. Look at you intentionally capitalize Bitcoin but not Ethereum. That kind of mentality explains part of it.

The SEC under Gensler gave BTC a huge bump and held back ETH and XRP. They labeled SOL a security in one of their filings but that did not really matter to the Solana crowd - I guess.

The fundamentals of Bitcoin are actually not that great. It's becoming more centralized and the POW model where miners get less and less rewards becomes questionable 16-24 years from now, maybe sooner.

The finite supply is not that special either. ZEC has the same finite supply of 21 million as BTC, and better privacy features. But the price sits at a pathetic $49.72 and apparently an of $5,941.80 - lol! It went up to over $750 in 2017. People are still mining ZEC besides all that. They are considering switching ZEC to POS because mining is unprofitable. The same might happen with BTC.

ZEC gets almost no mention by most people. The privacy features of Zcash and Monero is also perhaps a hinderance because governments don't like that. But they still have use cases for people that want anonymity.

[obsidian]

He also bought some Wrapped BTC on Ethereum 

World Liberty Financial now has $207 million ETH, $47 million WBTC and $15 million staked ETH.

From Reddit:

Yeah, because they know in the future everyone just uses ETH, including to buy BTC. Wrapped BTC actually allows users to extract yield from BTC through lending or liquidity provision without going through a shady middleman like blockfi or celsius. BTC on BTC chain does nothing.

Wall Street loves yield so that's where crypto is going.

[gib]

From Reddit:

Yeah, because they know in the future everyone just uses ETH, including to buy BTC. Wrapped BTC actually allows users to extract yield from BTC through lending or liquidity provision without going through a shady middleman like blockfi or celsius. BTC on BTC chain does nothing.

Wall Street loves yield so that's where crypto is going.

All fine so long as BTC continues to dominate as the base-layer of global wealth. Thereafter, people can decide how they wish to transact as they see fit. There will be an infinite number of blockchains they can use for that purpose, but of course only a finite supply of BTC underlying it all. That's why we buy BTC, HODL, and ignore the noise...

[gib]

https://edition.cnn.com/2025/01/21/investing/meme-coin-trump-crypto-nightcap/index.html

[Griffith]

Trump family may build ‘giant businesses’ on Ethereum

The Trump family may expand its involvement in the cryptocurrency industry by launching an Ethereum-based business.

Joseph Lubin, co-founder of Ethereum and founder of Consensys, hinted at the development in a Jan. 21 post on X.

“Based on what I am aware of, the Trump family will build one or more giant businesses on Ethereum,” Lubin wrote. “The Trump administration will do what is good for the USA, and that will involve ETH.”

Lubin suggested that the Trump administration might eventually integrate Ethereum technology into government activities, similar to its current use of internet protocols.

While no official announcement has been made, Lubin pointed to some tell-tale signs, including recent Ether purchases by Trump’s World Liberty Financial (WLFI) decentralized finance platform.

The WLFI-labelled wallet has amassed 55,341 ETH, worth over $183 million, making Ether the wallet’s largest holding after the Circle’s USD Coin stablecoin, Arkham Intelligence data shows.

https://cointelegraph.com/news/trump-family-ethereum-giant-businesses-lubin

[Griffith]

Ethereum ETF issuers expect staking to be greenlit soon

Ethereum co-founder Joe Lubin says issuers are confident that staked Ether ETFs will be approved under new SEC leadership.

Ether exchange-traded funds issuers are hopeful that funds offering staking could “soon” be given the regulatory go-ahead, says Consensys founder Joe Lubin.

“We’ve been in discussions with the ETF providers, and they’re already working hard on that, so they expect that to be greenlit reasonably soon,” Lubin told Cointelegraph in reference to staked Ether ETFs.

The SEC has yet to approve a staked Ether ETF, but this may be about to change under new leadership, according to industry experts.

On Jan. 21, the SEC announced it was creating a crypto task force dedicated to developing a framework for digital assets led by the crypto-friendly Commissioner Hester Peirce.

In a December interview with Coinage, Peirce hinted at a very early pro-crypto shift at the financial regulator under the new administration.

Bernstein Research said last month it believed that “ETH staking yield [ETFs] will likely be approved” under a crypto-friendly SEC put in place by Trump.

https://cointelegraph.com/news/ethereum-etf-issuers-staking-etfs-soon-live-joe-lubin

[gib]

[gib]

[SouJerz]

Is there a future with both Ethereum and Bitcoin?  Kind of like we have gold and silver?  Aren’t there things ethereum can do that Bitcoin can’t and vice versa?  Does it have to be so black and white?

[French]

No Ethereum is not Silver, just an alt in decline and impossible to reform.
the only cryptocurrency considered to be silver is and will be Kaspa.
Solana is in another dimension comparable to an integrated digital web 3 solution company. The equivalent of Microsoft Apple Nvidia Amazon.

[gib]

Agree - you cannot compare BTC and Eth like Gold to Silver. It's like comparing a car to a banana because they both happen to be yellow, and asking if a banana could be "almost as good as a car" - they are not even in the same category.

BTC is a global ledger for wealth. ETH is not the "second best" or an alternative to this. Its something entirely different all together, and indeed something which has failed in its initial aims, which can be infinitely duplicated (basically a chain for smart contracts) and has little real world use case adoption that had initially been envisaged. Yes, you can use it to exchange crypto kitties and other things like that...

It is correct that Eth will continue to decline in value compared to BTC though. That should be obvious. Many leading developers have long given up and moved on. Latest example below.

https://www.dlnews.com/articles/defi/core-dev-nick-conner-quits-amid-ethereum-civil-war/

I would urge everyone here to look at "crypto" in a similar way. There is BTC, and then there is everything else (its just that some of those other things are represented by blockchains - but the vast vast majority of this investments represented by blockchains are entirely worthless and will gravitate to zero over time. (With BTC, this is of course entirely the opposite).

I do think Eth will still exist in some form in a decade, but much more as a legacy chain, which has long since dies and been overtaken, perhaps acquiring some kind of Vitalik meme status or sentimental value, but certainly not anything taken seriously.

[obsidian]

He was forced to leave the Ethereum Foundation and then cofounded Polkadot. Look at the DOT chart - it looks like shit.

Of course this guy will badmouth Ethereum. Just like Charles Hoskinson - who bashes Ethereum every chance he gets because he was kicked out of the ETH Foundation.

[obsidian]

That guy is an idiot. He says: "Ethereum knows very well that it is a security". Ethereum doesn't know anything it is a blockchain. The guy's YouTube channel is called "Bitcoin University". LMAO. What do you expect?! Of course he will badmouth Ethereum.

That video is over 4 months old and Ethereum has not been classified as a security. Gensler himself even said a few weeks ago that the SEC never claimed Ethereum was a security.

Your post is a FAIL!

[obsidian]

Is there a future with both Ethereum and Bitcoin?  Kind of like we have gold and silver?  Aren’t there things ethereum can do that Bitcoin can’t and vice versa?  Does it have to be so black and white?

Considering that Ethereum's TVL dwarfs Bitcoin's the answer is obvious. Ethereum dominates with 52.91%. Bitcoin only has 5.87%.

https://defillama.com/chains

And this is with negative ETH sentiment at an ATH.

[obsidian]

No Ethereum is not Silver, just an alt in decline and impossible to reform.
the only cryptocurrency considered to be silver is and will be Kaspa.
Solana is in another dimension comparable to an integrated digital web 3 solution company. The equivalent of Microsoft Apple Nvidia Amazon.

Solana is a train wreck waiting to happen. The chain is over 300 TB in size. However, obtaining an exact figure is challenging due to the blockchain's continuous growth and the lack of real-time public data on its precise size.

Solana's unique Proof of History (PoH) consensus mechanism timestamps every transaction before it is processed. This requires frequent data writes and contributes to the rapid accumulation of ledger data.

I won't be surprised if we see future crashes with the bloated chain.

[obsidian]

Agree - you cannot compare BTC and Eth like Gold to Silver. It's like comparing a car to a banana because they both happen to be yellow, and asking if a banana could be "almost as good as a car" - they are not even in the same category.

BTC is a global ledger for wealth. ETH is not the "second best" or an alternative to this. Its something entirely different all together, and indeed something which has failed in its initial aims, which can be infinitely duplicated (basically a chain for smart contracts) and has little real world use case adoption that had initially been envisaged. Yes, you can use it to exchange crypto kitties and other things like that...

It is correct that Eth will continue to decline in value compared to BTC though. That should be obvious. Many leading developers have long given up and moved on. Latest example below.

https://www.dlnews.com/articles/defi/core-dev-nick-conner-quits-amid-ethereum-civil-war/

I would urge everyone here to look at "crypto" in a similar way. There is BTC, and then there is everything else (its just that some of those other things are represented by blockchains - but the vast vast majority of this investments represented by blockchains are entirely worthless and will gravitate to zero over time. (With BTC, this is of course entirely the opposite).

I do think Eth will still exist in some form in a decade, but much more as a legacy chain, which has long since dies and been overtaken, perhaps acquiring some kind of Vitalik meme status or sentimental value, but certainly not anything taken seriously.

This is all BS that you posted. Ethereum is way more significant than Bitcoin. You can't do shit with Bitcoin. Which is why Trump bought "Wrapped BTC".

BTC is slow, uses a lot of power, and can only do simple transactions. The miners with their ASIC appliances are getting less and less yield and it is questionable if transaction fees will make them solvent in 16-24 years.

[obsidian]

https://www.forbes.com/sites/beccabratcher/2025/01/23/why-the-bitcoin-president-is-really-more-of-an-ethereum-president/

Why The ‘Bitcoin President’ Is Really More Of An ‘Ethereum President’

In a surprising twist that has created controversy in the Bitcoin community, recent moves by President Trump’s newly launched World Liberty Financial have cast fresh light on the differences between Bitcoin and Ethereum.

At the heart of the controversy is a transaction involving wrapped bitcoin and bitcoin, terms that are anything but synonymous.

Trump’s Crypto Acquisitions Exclude Bitcoin
On Jan. 20, Donald Trump Jr. posted a series of strategic token purchases that commemorated the inauguration of his father as the 47th president of the United States. The purchases included:

$47,000,000 in ETH
$47,000,000 in WBTC
$4,700,000 in Aave
$4,700,000 in LINK
$4,700,000 in TRX
$4,700,000 in ENA

At first glance, this might appear to affirm bitcoin’s centrality in Trump’s digital currency realm. However, a closer look reveals that aside from TRX, all tokens are Ethereum-based assets.

Wrapped Bitcoin, for example, is not stored on the bitcoin blockchain but instead exists as an ERC20 token on Ethereum. It is backed 1:1 by bitcoin through a complex minting process that involves trusted custodians and merchant intermediaries.

Wrapped Bitcoin Is Not Bitcoin
The mechanism behind WBTC underscores its multifaceted utility. As outlined in its 2019 whitepaper, WBTC is a fundamentally different version of bitcoin, designed to leverage Ethereum’s expansive decentralized finance ecosystem.

Users who acquire wrapped bitcoin gain exposure to bitcoin’s value while enjoying the benefits of Ethereum’s smart contract capabilities and turing complete functionality. These include lending, borrowing, and yield generation, to name a few.

However the token’s holder does not own bitcoin in the elemental sense. Instead, they possess a derivative that exists only on another chain. This arrangement enhances token interoperability and serves as a clever, if controversial, marketing tool for political figures like Trump.

[obsidian]

I am guessing Trump is not a fan of someone like Saylor controlling 2% of the BTC supply.

Saylor is making a mistake. The more BTC he acquires the more he'll be undermining BTC. Nobody is interested in Saylor-coin. It's in the best interest of all Bitcoiners that he stops with what he has.

[Griffith]

Donald Trump Signs Executive Order To Create Digital Asset Stockpile

The executive order also created a crypto working group that will be responsible for developing this stockpile.

https://coingape.com/donald-trump-signs-executive-order-to-create-national-digital-asset-stockpile/