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

[gib]

 As this all relates to crypto what they are doing with the dollar is probably what you would do if you knew monetary reset/one world money was imminent. It won't be BTC though.

It already is BTC though.

[pellius]

I haven't been following this thread as much. You guys are way over my head. What I have noticed is that BTC has budge in quite a while. Just stuck in the 33-34 range.

[FitnessFrenzy]

[Mayday]

Less words makes it easier.

5.4% CPI means we wait for taper talk and/or rates.

Inflation triggers a deflationary event which triggers an inflationary policy outcome.

However, if the Fed choose to leave inflation unchecked, we will see a massive commodity boom and it will kick off Bitcoin aswell.

The risk the Fed takes is if they do not have a small correction now by removing excess leverage, they open the door to a massive collapse in 2022.

[Griffith]

People can just transfer crypto to a local exchange and withdraw from there. This is how foreign based exchanges are used in many countries.

If all cash withdrawals on Binance were stopped, it wouldn't change anything, their funds would not be stuck on the exchange.

XRP costs a few cents to transfer and takes about 30 seconds so it is a popular choice.

[Griffith]

Lets not forget the main reason (and benefit) of the adoption of BTC. Its initial primary benefit will be the facilitation of zero friction foreign remittances via lightening network, with BTC as a base layer (instantly convertible to  USDT, in any proportion they wish). So they can avoid all BTC to USD volatility if they wish. Or they can allocate and cash in/out as they wish. So now they have access to a banking system, without the need for a bank as an intermediary, both for savings, spending, and remittance.

That applies to most crypto.

[FitnessFrenzy]

[SOMEPARTS]

FFS Do any of these crypto youtube geniuses own a decent shirt and tie?

I prefer a certain level of professionalism when being conned and lied to. 

[SOMEPARTS]

Less words makes it easier.

5.4% CPI means we wait for taper talk and/or rates.

Inflation triggers a deflationary event which triggers an inflationary policy outcome.

However, if the Fed choose to leave inflation unchecked, we will see a massive commodity boom and it will kick off Bitcoin aswell.

The risk the Fed takes is if they do not have a small correction now by removing excess leverage, they open the door to a massive collapse in 2022.

Instead of letting a 10 year bull correct 40% they just made up another 911 and doubled down on printing.

The cost of real goods and services has gone up permanently until a crash IMO, they put the pedal to the floor no going back. None of this relies on actual demand, it's more money chasing the same goods.

Look at the rate Goldman has been selling off.

[FitnessFrenzy]

HEX is exploding higher:
https://coinmarketcap.com/currencies/hex/

Any Getbiggers own it?

[polychronopolous]

Oklo and Compass Secure 20-Year Commercial Partnership to Launch Advanced Fission-Powered Bitcoin Mining

Compass and Oklo have signed a 20-year partnership to power Bitcoin mining with advanced fission

Oklo will begin to supply Compass with clean, reliable, and cost-effective power starting in the early 2020s

The commercial partnership between Oklo and Compass aims to promote diverse and sustainable energy sources for cryptocurrency miners

SUNNYVALE, Calif.--(BUSINESS WIRE)--Oklo Inc. (Oklo) announces a 20-year commercial partnership with Compass Mining (Compass), the world's first online marketplace for Bitcoin mining hardware and hosting. With increasing power consumption from bitcoin mining, the partnership between Oklo and Compass aims to introduce advanced fission to supplement fossil fuels and promote diversity and sustainability in the energy sources used by miners. Oklo’s advanced fission powerhouses will provide clean, reliable, and affordable baseload power for Compass’ Bitcoin mining machines, starting in the early 2020s. Oklo is committed to supplying at least 150MW of clean power to Compass in the first phase of this partnership, helping drive the sustainability of Bitcoin mining practices.

“We are proud to blaze new trails on the commercialization of our powerhouses by partnering with Compass in decarbonizing Bitcoin,” said Jacob DeWitte, co-founder and CEO of Oklo. Oklo is the first advanced fission company to have its license to construct and operate a power plant be accepted for review by the U.S. Nuclear Regulatory Commission.

“Cryptocurrency mining offers promising pathways to accelerate the deployment of clean energy technologies, and Oklo is positioned to respond to commercial demands by offering end-users the convenience of buying clean, reliable, and cost-effective power that they can depend on,” added DeWitte. Oklo’s path to deployment strives to optimize its power plant designs to be cost-competitive with the cheapest forms of energy.

https://www.businesswire.com/news/home/20210714005433/en/Oklo-and-Compass-Secure-20-Year-Commercial-Partnership-to-Launch-Advanced-Fission-Powered-Bitcoin-Mining

[Mayday]

Instead of letting a 10 year bull correct 40% they just made up another 911 and doubled down on printing.

The cost of real goods and services has gone up permanently until a crash IMO, they put the pedal to the floor no going back. None of this relies on actual demand, it's more money chasing the same goods.

Look at the rate Goldman has been selling off.

To rationalise the Fed’s action today we can look at the Great Depression. The mistakes made during the 30s was the Fed didn’t print money early enough (Great Depression) but also that they took their foot off the printing press gas after a brief recovery causing a multi year recession.

Therefore keep the pedal pinned until it’s clear you are on the other side, hence inflation is transitory but it’s cost push inflation not demand driven.

[Mayday]

Active addresses blasted back to the Stone Age where price was 10k’ish.

It is big boys only club now and price is at 32k.

<George Soros has entered the chat>

[FitnessFrenzy]

This guy got rich (so far) from HEX. His initial 15.000 dollar investment turned into this:

[FitnessFrenzy]

That ship has sailed.  There was money to be made for a while but now mining is super slow and competitive and MtGox fucked over a lot of people and proved it is a big scam.

 

[Jakobslander]

HEX is exploding higher:
https://coinmarketcap.com/currencies/hex/

Any Getbiggers own it?

I do. Got almost 300 t-shares (2.5MM coins). I got in 4 months before the bonus, set up a bunch stakes (most are 5555 and three small ones end in 3 months) and am up 47x since the beginning.

I invested 7K and have now 315k.

It's not so much the price appreciation, it's the interest that I love. What you own, in USD terms, barely goes down because there are morons out there that trade this coin and emergency un-stake all the time. Then the game theory kicks in and you see a nice bump in the interest thanks to these morons.

The game theory behind the interest paying scheme is really a thing of beauty. It's NextGen stuff. Richard Heart built something really amazing.

That people still call this coin a scam is testament of how fucked up the industry is. I'm telling you, this coin is going to accumulate so much economic mass with such a large % of staked money, that the things built atop it will eventually explode. It's like a small local bank in a town with a population of 500 having 3 billion dollars deposited in its vault with nowhere to go but finance the 500 lucky suckers' projects.

[FitnessFrenzy]

[Mayday]

Maxis are going apeshit about it.

Saylor made it clear he doesn’t want BTC to do anything or have any aspirations.

So here comes Million Coin which is a mimic and doesn’t do anything either lol.

Crypto exchange market is evolving into a meme space and maxis are getting upset that retail FOMO is preferring to play in meme space over BTC which means BTC can’t pump like they want it to.

[SOMEPARTS]

Maxis are going apeshit about it.

Saylor made it clear he doesn’t want BTC to do anything or have any aspirations.

So here comes Million Coin which is a mimic and doesn’t do anything either lol.

Crypto exchange market is evolving into a meme space and maxis are getting upset that retail FOMO is preferring to play in meme space over BTC which means BTC can’t pump like they want it to.

And this is why bad tech is not going to be a store of value. This is meme currency, it all is. The people talking about it on youtube might as well be doing videos on anime.

[SOMEPARTS]

To rationalise the Fed’s action today we can look at the Great Depression. The mistakes made during the 30s was the Fed didn’t print money early enough (Great Depression) but also that they took their foot off the printing press gas after a brief recovery causing a multi year recession.

Therefore keep the pedal pinned until it’s clear you are on the other side, hence inflation is transitory but it’s cost push inflation not demand driven.

This is the tail wagging the dog as far as demand. They tapped the consumer out and were just finding new ways to keep them buying with ZIRP etc ... finally they just go helicopter money. They couldn't risk a return to value, nobody wants to be on that watch. Technology has a centralizing and streamlining effect that if anything was sped up under covid and that could be the true deflationary force.

[OneMoreRep]

I do. Got almost 300 t-shares (2.5MM coins). I got in 4 months before the bonus, set up a bunch stakes (most are 5555 and three small ones end in 3 months) and am up 47x since the beginning.

I invested 7K and have now 315k.

It's not so much the price appreciation, it's the interest that I love. What you own, in USD terms, barely goes down because there are morons out there that trade this coin and emergency un-stake all the time. Then the game theory kicks in and you see a nice bump in the interest thanks to these morons.

The game theory behind the interest paying scheme is really a thing of beauty. It's NextGen stuff. Richard Heart built something really amazing.

That people still call this coin a scam is testament of how fucked up the industry is. I'm telling you, this coin is going to accumulate so much economic mass with such a large % of staked money, that the things built atop it will eventually explode. It's like a small local bank in a town with a population of 500 having 3 billion dollars deposited in its vault with nowhere to go but finance the 500 lucky suckers' projects.

What exchange do you use for purchase of Hex?

I respect Richard Heart. I think he is one of the few voices of truth in crypto and the other day he singlehandedly OWNED Ben Armstrong's BitBoy crew while on their show.

"1"

[polychronopolous]

Smart man. He is looking 60+ years into the future instead of 6 months.

NFL’s Saquon Barkley converting endorsements to BTC to create ‘generational wealth’


NFL star Saquon Barkley has revealed that he will be converting all of his endorsement money into Bitcoin.

Barkley was the 2018 NFL offensive rookie of the year and plays as a running back for the New York Giants — a team that is also sponsored by Grayscale.

The 24-year-old explained the rationale for the move earlier today during an appearance on “The Best Business Show,” hosted by Bitcoin proponent and Morgan Creek Digital co-founder Anthony Pompliano. He noted that his research on inflation is what drove his interest in Bitcoin:

"We're seeing inflation and we're learning you can't save wealth. That's why I am going to be taking my marketing money in Bitcoin."
Barkley was joined on the show by Jack Mallers, the CEO of Strike, a payments company based on the Lightning Network. The NFL star cites the CEO as a key person who helped educate him on the benefits of investing in Bitcoin. Mallers was also highly influential in El Salvador’s embrace of Bitcoin.

As part of the move to convert his reported eight-figure yearly marketing endorsement money, Barkley will take direct deposits into his Strike account and instantly convert the money into BTC.

Barkley stated that he sees his opportunity in the NFL as a chance to emulate cult sports figures such as Lebron James of the LA Lakers, Kevin Durant of the Brooklyn Nets and Tom Brady of the Tampa Bay Buccaneers, by creating generational wealth for his family.

https://cointelegraph.com/news/nfl-s-saquon-barkley-converting-endorsements-to-btc-to-create-generational-wealth

[Griffith]

Active addresses blasted back to the Stone Age where price was 10k’ish.

It is big boys only club now and price is at 32k.

<George Soros has entered the chat>

And yet whales are accumulating more and amounts are increasingly going off exchanges into cold storage or for staking.

[a_pupil]

Smart man. He is looking 60+ years into the future instead of 6 months.

NFL’s Saquon Barkley converting endorsements to BTC to create ‘generational wealth’


NFL star Saquon Barkley has revealed that he will be converting all of his endorsement money into Bitcoin.

Barkley was the 2018 NFL offensive rookie of the year and plays as a running back for the New York Giants — a team that is also sponsored by Grayscale.

The 24-year-old explained the rationale for the move earlier today during an appearance on “The Best Business Show,” hosted by Bitcoin proponent and Morgan Creek Digital co-founder Anthony Pompliano. He noted that his research on inflation is what drove his interest in Bitcoin:

"We're seeing inflation and we're learning you can't save wealth. That's why I am going to be taking my marketing money in Bitcoin."
Barkley was joined on the show by Jack Mallers, the CEO of Strike, a payments company based on the Lightning Network. The NFL star cites the CEO as a key person who helped educate him on the benefits of investing in Bitcoin. Mallers was also highly influential in El Salvador’s embrace of Bitcoin.

As part of the move to convert his reported eight-figure yearly marketing endorsement money, Barkley will take direct deposits into his Strike account and instantly convert the money into BTC.

Barkley stated that he sees his opportunity in the NFL as a chance to emulate cult sports figures such as Lebron James of the LA Lakers, Kevin Durant of the Brooklyn Nets and Tom Brady of the Tampa Bay Buccaneers, by creating generational wealth for his family.

https://cointelegraph.com/news/nfl-s-saquon-barkley-converting-endorsements-to-btc-to-create-generational-wealth

Big gamble. 8 figures a year is already generational wealth.

[gib]

Active addresses blasted back to the Stone Age where price was 10k’ish.

It is big boys only club now and price is at 32k.

<George Soros has entered the chat>

Over time the masses will be trading over the second layer via lightening network. So these will be hundreds of millions of people who don't appear on the base layer. And indeed the base layer will become consolidated by larger players, institutions, HNWs, banks, brokers, custodian service providers, old school hodlers, lost private keys, etc. So, what we really need to be looking at is adoption of lightening wallets. And that metric is growing at a stunning pace.