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

[gib]

That's right, there was just a post a few weeks before where I said I had 1400 SOL, now I have 1575 SOL.
I revised my posts and thought I posted a post in early 2023.
Like everyone else, I suffered the bear market and when I saw the fall of Solana, I converted all my remaining crypto for 8k @$10.5 at the end of December 2022.
Then I bought every month in 2023, several times in a month depending on available cash, sometimes for 40, 80, 120, 200 up to 700 for a total of 20k to date.
I had an additional surprise gain of +7k when I converted some SOL to the new stable coin AEUR in order to benefit from a pullback and buy more SOL. but AEUR increased over 200% because people didn't realize it was a stable coin, when I saw that crazy move, I converted all my AEUR to SOL to gain around  an extra 140 SOL.
The reason I bought in December 2022 even though I was a little depressed about hitting an all-time low with my cryptos is because nothing has changed with the Solana ecosystem.
FTX was not related to governance, nor to the owner or founder.
Network outages weren't that frequent, performance and reliability were constantly improving, and the Solana tokens owned and locked by FTX already existed, already issued, so basically it made absolutely no difference to liquidity. Then I read the project and found out that they have the best development community and parallelization features with an ecosystem that doesn't have a ton of layers to make it more efficient, more cost-effective, and faster. I don't think people or institutions will bear high transaction fees in the future.

Well done on the gain. I am a skeptic on the tech of Solana but the narrative is certainly popular. I just continue to put fiat into BTC over time. Am way way up and love the freedom BTC offers. Alts just a fun dabble for me.

[gib]

And for those that want to buy a cup of coffee with BTC or ETH they can use a L2. The L2 user experience is still a mess that needs to be improved.

Lightening works great. As does BTC backed Visa transactions.

However, other than just for fun or to help stimulate the ecosystem, I would treat BTC as a savings / store of value tool, just like houses, art, gold, etc, although much more easily stored, divisible, portable, transferable, etc. Not something one would often transfer on the base layer. If I look at my gold for example, most of it I would transact perhaps once in a decade.

[gib]

ETF approval is already priced in. Blackrock have a 98% chance and everyone knew that when they made the application.

What is the reason so many are upset that the ETF doesn't allow self custody? That's the whole point of the ETF isn't it? You can buy in, sell out whenever you want without needing to actually worry about owning the asset personally.

The likelihood of the approval is already priced in. But the impact of the fund inflows in my view is not priced in. It can't be, as those funds have not flown in yet. Increased demand from ETF funds will have to impact price given fixed supply. And potentially massively so if BTCers hodl.

The concern some have about ETFs (not really warranted in my view) is that ETF's could essentially sell "fake BTC" (much like FTC), where people think they are buying an asset backed 1:1 by BTC, when in fact they are not. US EFTs should be fine as they will be well regulated and audited. But still, the fact remains - not your keys, not your coin. If you own a BTC EFT share, you don't own BTC - you own a share backed by BTC and you are relying on the issuer to be truthful.

[Flexacon]

ETF approval is already priced in. Blackrock have a 98% chance and everyone knew that when they made the application.

What is the reason so many are upset that the ETF doesn't allow self custody? That's the whole point of the ETF isn't it? You can buy in, sell out whenever you want without needing to actually worry about owning the asset personally.

Unprofitable tech stocks are pumping right now and if that continues (I think it does for another couple of months) then I'd assume everyone is still risk on and that means they come for bitcoin ETFs, so bitcoin pumps.

There was something about the ETFs not being as tax friendly as they could be. Self custody would negate that issue.

[Theoak*]

Solana fanboys don't know they are actually paying $100 mil in fees / month to use the network.
SOL runs on subsidies & inflation = price crashes = subsidies crash = validators leave = chain halts. This is how fiat money keeps you poor  over time.

The bull market just started. People should pay attention once it comes to an end. What do you think those SOL stakers will do when its price starts crashing? Will be a fast way down the more tokens they print out of thin air in this bull market.

The whole SOL will flip Eth narrative is about as plausible as ETH will flip  BTC. Afterall what I'd Solana spelt backwards.... analOS.

[Theoak*]

The likelihood of the approval is already priced in. But the impact of the fund inflows in my view is not priced in. It can't be, as those funds have not flown in yet. Increased demand from ETF funds will have to impact price given fixed supply. And potentially massively so if BTCers hodl.

The concern some have about ETFs (not really warranted in my view) is that ETF's could essentially sell "fake BTC" (much like FTC), where people think they are buying an asset backed 1:1 by BTC, when in fact they are not. US EFTs should be fine as they will be well regulated and audited. But still, the fact remains - not your keys, not your coin. If you own a BTC EFT share, you don't own BTC - you own a share backed by BTC and you are relying on the issuer to be truthful.

What some  don’t get is that we Bitcoinets ate the entire fucking steak and now TradFi, Wall Street, Institutions, Nation States, Family Offices, etc all have to fight for the fucking bone.

We already won.

These clowns have to fight over the last 2M BTC wrapped in ETF dogshit. Self custody for the win.

[Taffin]

Well Taffin - now the dilemma you have is whether to sell or not. Right now, Wall St is desperate to get their hands on your Bitcoin. My suggestion is to fight to retain what you have. Do not give it up. Indeed, if you can acquire more now, do so.

You will thank yourself later.

For anyone here who is still not a wholecoiner, you still have the opportunity, but it is fading fast. Do what you can to stack those Sats and then just HODL.

Thanks for the advice, just put my tiny Xmas bonus in again - let's see what happens - the main thing is that I won't look at it again for about 10-12 months - is that what HODL means? LOL

[Mayday]

The likelihood of the approval is already priced in. But the impact of the fund inflows in my view is not priced in. It can't be, as those funds have not flown in yet. Increased demand from ETF funds will have to impact price given fixed supply. And potentially massively so if BTCers hodl.

The concern some have about ETFs (not really warranted in my view) is that ETF's could essentially sell "fake BTC" (much like FTC), where people think they are buying an asset backed 1:1 by BTC, when in fact they are not. US EFTs should be fine as they will be well regulated and audited. But still, the fact remains - not your keys, not your coin. If you own a BTC EFT share, you don't own BTC - you own a share backed by BTC and you are relying on the issuer to be truthful.

Blackrock are buying 10M when the ETF is approved. They are not creating any green God candle on launch.

When the Gold ETF launched the price nuked -15%.

Post nuke Gold went 2.6x over 5yrs.

The Gold ETF rallied during a period of rising interest rates, rising S&P but a falling DXY.

I don’t buy the whole self custody thing. I have it in a wallet and if I forget some huge password I lose it all. In my lifetime The only time my money was lost was during self custody lol 😂 self custody exists for tax evasion purposes, gold people talk about it all the time otherwise you play futures or ETF.

I hate the idea of a wallet. I had my laptop blow up…… yep and I shit myself because fuck knows where I had kept the keys. After rummaging through old HDDs I found it and recovered my holdings. Meanwhile my bank always has my money.

[Flexacon]

Solana fanboys don't know they are actually paying $100 mil in fees / month to use the network.
SOL runs on subsidies & inflation = price crashes = subsidies crash = validators leave = chain halts. This is how fiat money keeps you poor  over time.

The bull market just started. People should pay attention once it comes to an end. What do you think those SOL stakers will do when its price starts crashing? Will be a fast way down the more tokens they print out of thin air in this bull market.

The whole SOL will flip Eth narrative is about as plausible as ETH will flip  BTC. Afterall what I'd Solana spelt backwards.... analOS.

Sure SOL could end up in a LUNA death spiral, but before it does that it probably keeps going up in a big way. The ecosystem is getting a free $1B in liquidity via airdrops from Jupiter exchange. The ponzi pump there is far from over.

I know I won't be fading it.

[Theoak*]

Sure SOL could end up in a LUNA death spiral, but before it does that it probably keeps going up in a big way. The ecosystem is getting a free $1B in liquidity via airdrops from Jupiter exchange. The ponzi pump there is far from over.

I know I won't be fading it.

Proves my point because conviction  will always be 0 with centralised  shitcoins like SOL it's ripe picking for gamblers and degens. The boys with money moving this thing will dump it because they know all too well it's a cash grab  and not a long term play.

Unfortunately those with disillusioned conviction will be left holding the bag. To think that these big sellers won't rotate back into Btc and Eth is almost XRPesque.

I told you when Solana was at 16 to sell your house and car
to buy massively.
Ethereum and Bitcoin have fees that are too high and are too slow
and need multiple additionnal stupid layers.
They will collapse in 2024, all investors will convert in Sol.
The release of Fire Dancer will provide the first impetus to its conquest of the first market capitalization.

[Theoak*]

That's right, there was just a post a few weeks before where I said I had 1400 SOL, now I have 1575 SOL.
I revised my posts and thought I posted a post in early 2023.
Like everyone else, I suffered the bear market and when I saw the fall of Solana, I converted all my remaining crypto for 8k @$10.5 at the end of December 2022.
Then I bought every month in 2023, several times in a month depending on available cash, sometimes for 40, 80, 120, 200 up to 700 for a total of 20k to date.
I had an additional surprise gain of +7k when I converted some SOL to the new stable coin AEUR in order to benefit from a pullback and buy more SOL. but AEUR increased over 200% because people didn't realize it was a stable coin, when I saw that crazy move, I converted all my AEUR to SOL to gain around  an extra 140 SOL.
The reason I bought in December 2022 even though I was a little depressed about hitting an all-time low with my cryptos is because nothing has changed with the Solana ecosystem.
FTX was not related to governance, nor to the owner or founder.
Network outages weren't that frequent, performance and reliability were constantly improving, and the Solana tokens owned and locked by FTX already existed, already issued, so basically it made absolutely no difference to liquidity. Then I read the project and found out that they have the best development community and parallelization features with an ecosystem that doesn't have a ton of layers to make it more efficient, more cost-effective, and faster. I don't think people or institutions will bear high transaction fees in the future.

[Mayday]

Mt Gox release has started.

140k BTC to be repaid.

Looks like they waited to do it into the halving year and bullrun. Interesting 🤔

It’ll start with “140k can easily be absorbed” and it’ll end with “those 140k people sold failed to let BTC break 100k”

There’s your price suppression. The govt didn’t do it at the bottom to crash the price, they’ve done it during the bullrun to suppress it.

[Theoak*]

Mt Gox release has started.

140k BTC to be repaid.

Looks like they waited to do it into the halving year and bullrun. Interesting 🤔

It’ll start with “140k can easily be absorbed” and it’ll end with “those 140k people sold failed to let BTC break 100k”

There’s your price suppression. The govt didn’t do it at the bottom to crash the price, they’ve done it during the bullrun to suppress it.

Those who wanted to sell Mt gox btc sold their  claims  through institutions  way back. Part is being paid in cash and rest in btc. To think 140k is going to be dumped straight onto the market is ludicrous. If I had to estimate I'd say 20-30%. Don't forget people from that exchange are the original Maxis and I'm guessing most still participate in btc and have seen it evolve into the beast it is today. Alot of those btf aren't getting sold. This narrative has been pushed for years.

[Mayday]

Those who wanted to sell Mt gox btc sold their  claims  through institutions  way back. Part is being paid in cash and rest in btc. To think 140k is going to be dumped straight onto the market is ludicrous. If I had to estimate I'd say 20-30%. Don't forget people from that exchange are the original Maxis and I'm guessing most still participate in btc and have seen it evolve into the beast it is today. Alot of those btf aren't getting sold. This narrative has been pushed for years.

What you said is the majority view. See how the calls for 500k-1M in 2yrs work out vs my 76k.

The narrative has been pushed for years yet when it didn’t happen NTC could only get a 3x.

Now that is is happening, NTC will do a what? What is the number you think is going to happen which makes my opinion so very wrong?

[Theoak*]

What you said is the majority view. See how the calls for 500k-1M in 2yrs work out vs my 76k.

The narrative has been pushed for years yet when it didn’t happen NTC could only get a 3x.

Now that is is happening, NTC will do a what? What is the number you think is going to happen which makes my opinion so very wrong?

Majority view by who? This is what I've seen over the years. Not only do you have Mt Gox but all the crypto casinos including FTX paying out creditors next year.

Mt Gox has until October next year to pay out its creditors. If you're looking for some type of major price suppression then it's not coming from this.
Between now and October looks like Saylor  will absorb part of the payout before bull starts.


MicroStrategy has acquired an additional 14,620 BTC for ~$615.7 million at an average price of $42,110 per As of 12/26/23,
@MicroStrategy
 now hodls 189,150 $BTC acquired for ~$5.9 billion at an average price of $31,168 per bitcoin. $MSTR


Yes, I agree that your opinion is very wrong on BTC not hitting an ATH until 2030. I believe you will be proved wrong sooner rather than later.

[Mayday]

Majority view by who? This is what I've seen over the years. Not only do you have Mt Gox but all the crypto casinos including FTX paying out creditors next year.

Mt Gox has until October next year to pay out its creditors. If you're looking for some type of major price suppression then it's not coming from this.
Between now and October looks like Saylor  will absorb part of the payout before bull starts.


MicroStrategy has acquired an additional 14,620 BTC for ~$615.7 million at an average price of $42,110 per As of 12/26/23,
@MicroStrategy
 now hodls 189,150 $BTC acquired for ~$5.9 billion at an average price of $31,168 per bitcoin. $MSTR


Yes, I agree that your opinion is very wrong on BTC not hitting an ATH until 2030. I believe you will be proved wrong sooner rather than later.

I never said no ATH until 2030, you might be confusing me with someone else.

I have said this next peak will be around 76k and it might happen by end of 2024 to H1 2025.

What I have said is The inflationary cycle we are in is not friendly to the crazy high 1M calls. Once the cycle peaks out in 2032-2034, then I believe we will have the environment which will allow for an actual long run on BTC and that’s when we can probably look at those 200k+ numbers.

The price suppression I have talked about is what prevents these crazy 500k- 1M numbers in 2yrs. Having 140k coins given back to owners is not bullish. If Saylor has to absorb the payout, It leaves no room for him to pump the price….. that is how price suppression works.

I disagree with you that we will hit 500k-1M in this next peak in 18 months. I disagree with anything 100k+ in 18mths.

As for Saylor, there are a number of ‘what if’ he may need to survive these next 8-10yrs.

[Mayday]

The 500k-1M in 2yrs crew are checking in

[Theoak*]

I never said no ATH until 2030, you might be confusing me with someone else.

I have said this next peak will be around 76k and it might happen by end of 2024 to H1 2025.

What I have said is The inflationary cycle we are in is not friendly to the crazy high 1M calls. Once the cycle peaks out in 2032-2034, then I believe we will have the environment which will allow for an actual long run on BTC and that’s when we can probably look at those 200k+ numbers.

The price suppression I have talked about is what prevents these crazy 500k- 1M numbers in 2yrs. Having 140k coins given back to owners is not bullish. If Saylor has to absorb the payout, It leaves no room for him to pump the price….. that is how price suppression works.

I disagree with you that we will hit 500k-1M in this next peak in 18 months. I disagree with anything 100k+ in 18mths.

As for Saylor, there are a number of ‘what if’ he may need to survive these next 8-10yrs.

I never said 500k-1million and have gone on record numerous times those people spewing those numbers are scammers looking to sell a course or looking for clout. I've said 500k numbers will come in next 10+ years, not blow off top numbers but steady high prices with much smalle4 volatility.

No one is saying it's bullish, it's just not as bearish or price suppressing as you think.

[deadz]

I'd actually like to see what the net worth is of some of the financial wizards in this thread. My guess is NOT MUCH.

[obsidian]

Ethereum pushed nicely past $2,400. The ETH rally will be one of the most hated rallies. We have reached peak ETH FUD. Everyone is dogging ETH. It will pump! 

Props to Solana, but note the tech of Solana @ $8 is identical to the tech of Solana at $100. People are saying Solana is the best tech ever because it pumped. When it was $8 many of those same people said it was a scam and crap.

Ivan Tech has a great point. This guy is entertaining to watch. I put his YouTube videos on 1.75x-2.00x and listen while going for a coffee.

Bitcoin and Ethereum will not be the fastest horses in a bull market. Solana will probably outperform both, barring a black swan event or major issue with Solana.

[obsidian]

Majority view by who? This is what I've seen over the years. Not only do you have Mt Gox but all the crypto casinos including FTX paying out creditors next year.

Mt Gox has until October next year to pay out its creditors. If you're looking for some type of major price suppression then it's not coming from this.
Between now and October looks like Saylor  will absorb part of the payout before bull starts.


MicroStrategy has acquired an additional 14,620 BTC for ~$615.7 million at an average price of $42,110 per As of 12/26/23,
@MicroStrategy
 now hodls 189,150 $BTC acquired for ~$5.9 billion at an average price of $31,168 per bitcoin. $MSTR


Yes, I agree that your opinion is very wrong on BTC not hitting an ATH until 2030. I believe you will be proved wrong sooner rather than later.

I didn't realize that apparently, the US government holds more BTC than MicroStrategy.

https://www.bsc.news/post/microstrategy-grows-bitcoin-holdings-nearing-u-s-government-reserves#:~:text=With%20its%20latest%20Bitcoin%20acquisition,the%20government's%20210%2C429%20Bitcoin%20stash.

With its latest Bitcoin acquisition, MicroStrategy has brought itself within reach of the U.S. government's holdings, now only 20,000 bitcoins away from matching the government's 210,429 Bitcoin stash.

[obsidian]

https://cryptoslate.com/anatoly-yakovenko-says-solana-is-ethereum-in-layer-2-scalability-debate/

In a Dec. 25 tweet, Yakovenko playfully suggested that Solana could be considered an Ethereum layer-2 (L2) solution through its Wormhole eigenlayer. This statement was part of a tongue-in-cheek response to a tweet listing various L2 solutions like Arbitrum, Aztec, and Polygon. He quipped:

“Solana is ethereum! Solana is an ethereum L2 through the wormhole eigenlayer. Once danksharding is scaled up no one is going to stop you from submitting all the Solana blocks into some data validating bridge contract on ethereum.”

This playful assertion was meant to ironically juxtapose Solana, a distinct and independent blockchain, with Ethereum’s layer-2 solutions. The mention of a Wormhole eigenlayer and the speculative reference to submitting Solana blocks to Ethereum were part of this jest.

Our initial report, however, presented it seriously and failed to recognize its ironic nature, and thus our coverage suggested that he meant it in earnest. We sincerely apologize for the error and for any confusion caused by our failure to recognize the ironic intent behind it.

[obsidian]

So apparently you will be able to have your validators stake Ethereum and Solana at the same time?! This means you could earn yield from both blockchains? Sounds awesome!

https://www.coindesk.com/tech/2023/08/17/ethereum-restaking-worries-vitalik-buterin-heres-why/

[Mayday]

I never said 500k-1million and have gone on record numerous times those people spewing those numbers are scammers looking to sell a course or looking for clout. I've said 500k numbers will come in next 10+ years, not blow off top numbers but steady high prices with much smalle4 volatility.

No one is saying it's bullish, it's just not as bearish or price suppressing as you think.

So put a number on it then.

The next peak inside of 2yrs is what?

If sub 100k is too bearish and price suppressing, what will it be?

[Theoak*]

I didn't realize that apparently, the US government holds more BTC than MicroStrategy.

https://www.bsc.news/post/microstrategy-grows-bitcoin-holdings-nearing-u-s-government-reserves#:~:text=With%20its%20latest%20Bitcoin%20acquisition,the%20government's%20210%2C429%20Bitcoin%20stash.

With its latest Bitcoin acquisition, MicroStrategy has brought itself within reach of the U.S. government's holdings, now only 20,000 bitcoins away from matching the government's 210,429 Bitcoin stash.

Pretty sure Bulgaria holds 200+ btc aswell.