Author Topic: Bitcoins - about to hit $5,000 per coin today! (Read 1130814 times)

gib · « **Reply #4450 on:** January 25, 2021, 05:31:59 AM »

BTC is awakening from its little slumber, as US funds start Monday trading.

ETH fanboys stand aside and let the big boys back in to dominate the BTC trade...

Bindare_Dundat · « **Reply #4451 on:** January 25, 2021, 05:41:09 AM »

Quote from: gib on January 25, 2021, 05:31:59 AM

BTC is awakening from its little slumber, as US funds start Monday trading.

ETH fanboys stand aside and let the big boys back in to dominate the BTC trade...

Dont get cocky.

gib · « **Reply #4452 on:** January 25, 2021, 06:10:14 AM »

Is all good. The big money is coming from the institutional players into BTC. Some of that BTC gains in turn bleed into Eth. And beyond that into Alts. Its like BTC is the planet, and the alts all circulate around like moons. The alts may well outperform in the short term, purely due to smaller market cap. But make no doubts about it - BTC is the big Daddy, and the rest are to some extent parasites of the crypto ecosystem, who from time to time are having a nice meal.

It would not surprise me at all if alts (including ETH) in the near team, outperform BTC.

FitnessFrenzy · « **Reply #4453 on:** January 25, 2021, 06:37:39 AM »

Quote from: El Diablo Blanco on January 24, 2021, 12:10:38 PM

Ethereum won’t be with more than Bitcoin. There way more units of ethereum than there are of BTC

there are other factors to consider here as well

polychronopolous · « **Reply #4454 on:** January 25, 2021, 07:41:12 AM »

The Herd Is Coming

Nasdaq-listed Marathon Patent Group buys $150 million worth of bitcoin as part of the company's treasury reserves

Quick Take

Publicly-traded Marathon Patent Group has bought bitcoin worth about $150 million.
Marathon CEO Merrick Okamoto told The Block that the purchase was made from the company’s cash reserves.

Nasdaq-listed Marathon Patent Group announced Monday that it has purchased around 4,813 bitcoin for about $150 million.

The investment is part of the company's treasury funds, Marathon CEO Merrick Okamoto told The Block. This is the first time the company, which is involved in bitcoin mining, has bought bitcoin from the market.

"By leveraging our cash on hand to invest in bitcoin now, we have transformed our potential to be a pure-play investment into a reality," said Okamoto. "We also believe that holding part of our treasury reserves in bitcoin will be a better long-term strategy than holding U.S. dollars, similar to other forward-thinking companies like MicroStrategy."

To be sure, Marathon's stock rallied 892% last year and MicroStrategy's stock gained 166%, as compared to bitcoin's gain of about 300% during the year.

Earlier this month, Marathon raised $250 million in an equity round. When asked whether those funds were utilized to buy the bitcoin, Okamoto told The Block that the company had $425 million in cash before this raise, which was utilized to buy the bitcoin.

Crypto financial services firm NYDIG helped execute the transaction. The purchase was completed on January 21, NYDIG told The Block, adding that the purchase amount per bitcoin was around $31,135.

The order was completed "in only a few hours" from idea to execution, said NYDIG.

Last month, the firm also assisted insurance giant MassMutual to buy bitcoin worth $100 million, and MassMutual at the time acquired a $5 million minority equity stake in NYDIG.

As for Marathon Patent Group, the company has been mining bitcoin since late 2017. Today, it has 2,560 bitcoin miners in production, currently producing around 1.5 to 2 bitcoin per day, Okamoto told The Block.

To expand its operations, Marathon recently ordered 100,500 units of advanced S19 miners from Bitmain for about $270 million. "These units will be shipped beginning this week," Okamoto told The Block. "When fully deployed and installed, the company's total hashrate capability will exceed 10.34 exahash [from the current about 256 petahash], which we believe could make Marathon the largest bitcoin miner in the world."

https://www.theblockcrypto.com/post/92378/nasdaq-marathon-patent-group-buys-bitcoin-btc-treasury-reserves

Bindare_Dundat · « **Reply #4455 on:** January 25, 2021, 07:47:26 AM »

Quote from: polychronopolous on January 25, 2021, 07:41:12 AM

The Herd Is Coming

Nasdaq-listed Marathon Patent Group buys $150 million worth of bitcoin as part of the company's treasury reserves

Quick Take

Publicly-traded Marathon Patent Group has bought bitcoin worth about $150 million.
Marathon CEO Merrick Okamoto told The Block that the purchase was made from the company’s cash reserves.

Nasdaq-listed Marathon Patent Group announced Monday that it has purchased around 4,813 bitcoin for about $150 million.

The investment is part of the company's treasury funds, Marathon CEO Merrick Okamoto told The Block. This is the first time the company, which is involved in bitcoin mining, has bought bitcoin from the market.

"By leveraging our cash on hand to invest in bitcoin now, we have transformed our potential to be a pure-play investment into a reality," said Okamoto. "We also believe that holding part of our treasury reserves in bitcoin will be a better long-term strategy than holding U.S. dollars, similar to other forward-thinking companies like MicroStrategy."

To be sure, Marathon's stock rallied 892% last year and MicroStrategy's stock gained 166%, as compared to bitcoin's gain of about 300% during the year.

Earlier this month, Marathon raised $250 million in an equity round. When asked whether those funds were utilized to buy the bitcoin, Okamoto told The Block that the company had $425 million in cash before this raise, which was utilized to buy the bitcoin.

Crypto financial services firm NYDIG helped execute the transaction. The purchase was completed on January 21, NYDIG told The Block, adding that the purchase amount per bitcoin was around $31,135.

The order was completed "in only a few hours" from idea to execution, said NYDIG.

Last month, the firm also assisted insurance giant MassMutual to buy bitcoin worth $100 million, and MassMutual at the time acquired a $5 million minority equity stake in NYDIG.

As for Marathon Patent Group, the company has been mining bitcoin since late 2017. Today, it has 2,560 bitcoin miners in production, currently producing around 1.5 to 2 bitcoin per day, Okamoto told The Block.

To expand its operations, Marathon recently ordered 100,500 units of advanced S19 miners from Bitmain for about $270 million. "These units will be shipped beginning this week," Okamoto told The Block. "When fully deployed and installed, the company's total hashrate capability will exceed 10.34 exahash [from the current about 256 petahash], which we believe could make Marathon the largest bitcoin miner in the world."

https://www.theblockcrypto.com/post/92378/nasdaq-marathon-patent-group-buys-bitcoin-btc-treasury-reserves

Bahahahaha.

But but but its all shit

polychronopolous · « **Reply #4456 on:** January 25, 2021, 07:53:30 AM »

Quote from: Bindare_Dundat on January 25, 2021, 07:47:26 AM

Bahahahaha.

But but but its all shit

Get the CEOs of these companies on conference call IMMEDIATELY!!

A handful of getbiggers said it's all a big scam!!!

SOMEPARTS · « **Reply #4457 on:** January 25, 2021, 09:29:41 AM »

Somebody show me how the central banks can profit from an outside monetary system in a way that exceeds the current system.

Humble Narcissist · « **Reply #4458 on:** January 25, 2021, 09:41:27 AM »

Quote from: SOMEPARTS on January 25, 2021, 09:29:41 AM

Somebody show me how the central banks can profit from an outside monetary system in a way that exceeds the current system.

They can't, it's just part of the pipe dream.

Griffith · « **Reply #4459 on:** January 25, 2021, 10:48:31 AM »

Quote from: SOMEPARTS on January 25, 2021, 09:29:41 AM

Somebody show me how the central banks can profit from an outside monetary system in a way that exceeds the current system.

Several central banks are experimenting with using Ethereum technology in order to introduce their own Central Bank Digital Currency (CBDCs).

Ethereum is a software platform used for banking, and to create and manage digital coins, such as stablecoins, which are backed by hard currency. USDC (US Dollar Coin) uses Ethereum.

Ether (ETH) is the cryptocurrency of the Ethereum platform.

https://consensys.net/blog/enterprise-blockchain/cbdc-pilots-on-ethereum/

SOMEPARTS · « **Reply #4460 on:** January 25, 2021, 11:08:02 AM »

Quote from: Griffith on January 25, 2021, 10:48:31 AM

Several central banks are experimenting with using Ethereum technology in order to introduce their own Central Bank Digital Currency (CBDCs).

Ethereum is a software platform used for banking, and to create and manage digital coins, such as stablecoins, which are backed by hard currency. At the moment, USDC (US Dollar Coin) uses Ethereum.

Ether (ETH) is the cryptocurrency of the Ethereum platform.

https://consensys.net/blog/enterprise-blockchain/cbdc-pilots-on-ethereum/

Yes, I'm sure if something comes up that is as easy to control/manipulate and more profitable - central banks will be all in.

This board's BTC proponents however will be checking google for an answer to my question. Again, in what situation do the banks....that run the world....and own the politicians....and are ruthless enough to finance both sides of every major war...allow a major money system outside of their SWIFT system to exist?

Bindare_Dundat · « **Reply #4461 on:** January 25, 2021, 12:04:58 PM »

Quote from: SOMEPARTS on January 25, 2021, 11:08:02 AM

Yes, I'm sure if something comes up that is as easy to control/manipulate and more profitable - central banks will be all in.

This board's BTC proponents however will be checking google for an answer to my question. Again, in what situation do the banks....that run the world....and own the politicians....and are ruthless enough to finance both sides of every major war...allow a major money system outside of their SWIFT system to exist?

Who cares? Enjoy the ride. Lol

Mayday · « **Reply #4462 on:** January 25, 2021, 12:34:01 PM »

Quote from: Bindare_Dundat on January 25, 2021, 05:11:13 AM

Btc just made a move after showing some resistance to the upside, similar to ethereums moves yesterday. If it holds this for a while could be bullish run.

MAYDAY are you paying attention to wallet activity?

I’m not following any news or any wallet activity.

ETH is in a short seasonality run that happens in the first 3 months of each year.

The difference to the last few years is this seasonality has happened during a parabolic move causing the price to rise significantly. This is why I sold BTC and switched to ETH. The news is making it out to be something it isn’t. It’s a temporary trend not a transformation of market structure.

Ultimately BTC controls the market direction so ETH will follow regardless of seasonality if BTC takes a dive (however ETH recovers quicker than BTC during seasonality).

I don’t see any bull run about to happen from where BTC sits right now. BTC Ballpark target 21k.

Bindare_Dundat · « **Reply #4463 on:** January 25, 2021, 01:06:32 PM »

Quote from: Mayday on January 25, 2021, 12:34:01 PM

I’m not following any news or any wallet activity.

ETH is in a short seasonality run that happens in the first 3 months of each year.

The difference to the last few years is this seasonality has happened during a parabolic move causing the price to rise significantly. This is why I sold BTC and switched to ETH. The news is making it out to be something it isn’t. It’s a temporary trend not a transformation of market structure.

Ultimately BTC controls the market direction so ETH will follow regardless of seasonality if BTC takes a dive (however ETH recovers quicker than BTC during seasonality).

I don’t see any bull run about to happen from where BTC sits right now. BTC Ballpark target 21k.

Sold.most.of.my ETH yesterday. Glad i stuck it out. Hoping for another hurrah in btc before.your predicted price fall range but its seems to be losing steam.

obsidian · « **Reply #4464 on:** January 25, 2021, 01:14:35 PM »

Quote from: SOMEPARTS on January 25, 2021, 11:08:02 AM

world....and own the politicians....and are ruthless enough to finance both sides of every major war...allow a major money system outside of their SWIFT system to exist?

If politicians own Bitcoin and other cyptos they will have enough wealth where there is no need to be bought and paid for. The solution is to get the politicians out of the clutches of the bankers. Then you just tell the bankers to go fuck themselves. If they don't want to comply you send a few mercenaries to set them straight.

SOMEPARTS · « **Reply #4465 on:** January 25, 2021, 01:28:23 PM »

Quote from: obsidian on January 25, 2021, 01:14:35 PM

If politicians own Bitcoin and other cyptos they will have enough wealth where there is no need to be bought and paid for. The solution is to get the politicians out of the clutches of the bankers. Then you just tell the bankers to go fuck themselves. If they don't want to comply you send a few mercenaries to set them straight.

Haha, good one. I can see the unicorns and fairy dust.

Bindare_Dundat · « **Reply #4466 on:** January 25, 2021, 01:34:04 PM »

Quote from: obsidian on January 25, 2021, 01:14:35 PM

If politicians own Bitcoin and other cyptos they will have enough wealth where there is no need to be bought and paid for. The solution is to get the politicians out of the clutches of the bankers. Then you just tell the bankers to go fuck themselves. If they don't want to comply you send a few mercenaries to set them straight.

gib · « **Reply #4467 on:** January 25, 2021, 06:50:18 PM »

Quote from: SOMEPARTS on January 25, 2021, 11:08:02 AM

Yes, I'm sure if something comes up that is as easy to control/manipulate and more profitable - central banks will be all in.

This board's BTC proponents however will be checking google for an answer to my question. Again, in what situation do the banks....that run the world....and own the politicians....and are ruthless enough to finance both sides of every major war...allow a major money system outside of their SWIFT system to exist?

Efficiency and capitalism lead to the creation and adoption of new technologies. Those in power know (or are realizing) that they cannot beat a decentralized and borderless system being adopted by the people. So they instead will (and) are capitulating from anger, denial, etc to acceptance and then embracing. (Much like the personal journey we took Mr Anabolic on during the course of this thread). If you can't beat'em, join'em. That's what is happening.

polychronopolous · « **Reply #4468 on:** January 25, 2021, 06:54:29 PM »

Quote from: gib on January 25, 2021, 06:50:18 PM

Efficiency and capitalism lead to the creation and adoption of new technologies. Those in power know (or are realizing) that they cannot beat a decentralized and borderless system being adopted by the people. So they instead will (and) are capitulating from anger, denial, etc to acceptance and then embracing. (Much like the personal journey we took Mr Anabolic on during the course of this thread). If you can't beat'em, join'em. That's what is happening.

Oh damn I just assumed old technology would be around forever and would never be replaced by new technology

polychronopolous · « **Reply #4469 on:** January 25, 2021, 07:00:46 PM »

Harvard, Yale, Brown Endowments Have Been Buying Bitcoin for at Least a Year: Sources

Some of the largest university endowment funds in the U.S. have been quietly buying cryptocurrency for the past year or so through accounts held at Coinbase and other exchanges, CoinDesk has learned.

According to two sources familiar with the situation, Harvard, Yale, Brown and the University of Michigan as well as several other colleges have been buying crypto directly on exchanges. (Several Ivy League endowments took an interest in blockchain technology via crypto-focused venture capital funds back in 2018.)

“There are quite a few,” said a source who asked to remain unnamed. “A lot of endowments are allocating a little bit to crypto at the moment.”
Yale and Brown did not respond to requests for comment by press time. When reached by CoinDesk, the Harvard and University of Michigan endowments declined to comment. Coinbase also declined to comment. University endowments got a single mention in Coinbase’s annual report for 2020, but without naming any names.

Some of the university endowment funds in question may have held accounts with Coinbase for as long as 18 months, according to one source.

https://finance.yahoo.com/news/harvard-yale-brown-endowments-buying-213404726.html

Bindare_Dundat · « **Reply #4470 on:** January 25, 2021, 07:51:31 PM »

Quote from: gib on January 25, 2021, 05:31:59 AM

BTC is awakening from its little slumber, as US funds start Monday trading.

ETH fanboys stand aside and let the big boys back in to dominate the BTC trade...

Guess it went back to sleep. $:-\$

Lol

SOMEPARTS · « **Reply #4471 on:** January 25, 2021, 08:20:02 PM »

Quote from: gib on January 25, 2021, 06:50:18 PM

Efficiency and capitalism lead to the creation and adoption of new technologies. Those in power know (or are realizing) that they cannot beat a decentralized and borderless system being adopted by the people. So they instead will (and) are capitulating from anger, denial, etc to acceptance and then embracing. (Much like the personal journey we took Mr Anabolic on during the course of this thread). If you can't beat'em, join'em. That's what is happening.

This sounds like me 5 years ago... but the white paper was wrong.

There is nothing decentralized about a singular crypto ledger....even more concentrated as that platform and its "efficiency" benefits those who would use the ledger to track, tax, etc. The days of free internet are over if you haven't noticed. Bitcoin is the Betamax of money.

Griffith · « **Reply #4472 on:** January 25, 2021, 08:59:44 PM »

http://www.coindesk.com/institutional-investors-ether-rally%3famp=1

More Institutional Investors Are Buying Ether, Seeing It as a Store of Value

More institutional investors are seeing ether as a store of value, according to Coinbase’s annual review for 2020. The crypto exchange noticed “a growing number” of its institutional clients have taken positions in ether, the native currency of the Ethereum network, for its strong returns. These clients predominantly bought bitcoin in 2020.

“The case for owning ethereum [ether] we hear most frequently from our clients is a combination of, first, its evolving potential as a store of value and, second, its status as a digital commodity that is required to power transactions on its network,” according to the report.

As industry leaders including Coinbase and Gemini continue to take a bullish view of ether, an increasing number of large investors are also exploring the sub-sector called decentralized finance (DeFi), according to analysts and traders.

Adding to the thesis that institutional investors are growing more interested in ether, the CME announced in December it will launch ether futures contracts next month. An ether-based derivatives products on one of the world’s largest regulated futures exchanges catering to an institutional crowd will give customers an opportunity to hedge their spot positions, reduce their overall risk of investing in ether and provide a venue for them to take speculative positions.

Theoak* · « **Reply #4473 on:** January 26, 2021, 01:52:23 AM »

Quote from: SOMEPARTS on January 25, 2021, 08:20:02 PM

This sounds like me 5 years ago... but the white paper was wrong.

There is nothing decentralized about a singular crypto ledger....even more concentrated as that platform and its "efficiency" benefits those who would use the ledger to track, tax, etc. The days of free internet are over if you haven't noticed. Bitcoin is the Betamax of money.

So how.much btc did you purchase 5 years ago?

Mayday · « **Reply #4474 on:** January 26, 2021, 02:11:39 AM »

Quote from: SOMEPARTS on January 25, 2021, 08:20:02 PM

This sounds like me 5 years ago... but the white paper was wrong.

There is nothing decentralized about a singular crypto ledger....even more concentrated as that platform and its "efficiency" benefits those who would use the ledger to track, tax, etc. The days of free internet are over if you haven't noticed. Bitcoin is the Betamax of money.

A level headed post.

The decentralised becomes centralised if it has any future in being adopted. Everything would be tracked.

To be fair, gib is talking decades and centuries into the future. Much like Zillo talks decades and hundreds of years into the future and Anabolic also talked in terms of lifetimes.

If someone thinks it’s going to Change in 2021-2023 timeframe I’ll happily grill them......