I would love to ask about this wild theory.
Is the crypto winter over?
- Thread starter schizo
- Start date
Sorry went to sleep, I thought my screenshot showed $33.7k spot btc to Tether?Don't you think I should at least breakeven? Get me down to 33.8K...
Looks like it pushed back above $34k. I know I'm biased but btc seems to be consolidating at $34k on the next leg up, same as it did at $29k
Quantum computers are a threat, but it doesn't have to be malicious. There are ideas to employ a post-social-proof master-key, and other work-arounds.
No one really knows for sure what future changes/add-ons/solutions will be employed for lost-key retrieval.
Development can be slow on BTC especially. It is interesting how there were many Bitcoin maxis trying to block and hold out on the Taproot upgrade. I guess some people really hate multi-sigs in that community!
How stupid of me. All this time, I was looking at the futures chart!
Oh well...As you can see in this chart, we've been trading in the range for well over 6 months. I'm pretty sure we will retest that upper line before going higher.
It's possible but we are in the bullish *ber months so I'm thinking improbable
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BITCOIN PRICE UP 1.6 MILLION PERCENT SINCE INFAMOUS ALLEN 'MESS' TWEET
A classic Bitcoin Twitter post is resurfacing, showcasing again the remarkable price growth of Bitcoin over the last decade.
As documented by Bitcoin Historian Pete Rizzo, tomorrow marks the 12th anniversary of a now-infamous tweet by Nick Allen back in 2011, one that demonstrates the remarkable growth and resilience of the cryptocurrency over the past decade.
The tweet in question, posted on October 25, 2011, by technologist Nick Allen, expressed disbelief at Bitcoin's value, which was "down to $2.70 a pop." Allen went on to say he was "so glad I didn't buy in on that mess."
At the time of the tweet, Bitcoin was trading at $2, and it's up some 1,600,000 percent since that date.
Fast forward to today, and Bitcoin's price has soared to nearly $35,000 per coin, marking a phenomenal increase from the days when it was valued in the single digits. Allen's tweet has since become a symbol of how the cryptocurrency has defied expectations and evolved into a mainstream asset class.
A classic Bitcoin Twitter post is resurfacing, showcasing again the remarkable price growth of Bitcoin over the last decade.
- REED MACDONALD
- OCT 24, 2023
As documented by Bitcoin Historian Pete Rizzo, tomorrow marks the 12th anniversary of a now-infamous tweet by Nick Allen back in 2011, one that demonstrates the remarkable growth and resilience of the cryptocurrency over the past decade.
The tweet in question, posted on October 25, 2011, by technologist Nick Allen, expressed disbelief at Bitcoin's value, which was "down to $2.70 a pop." Allen went on to say he was "so glad I didn't buy in on that mess."
At the time of the tweet, Bitcoin was trading at $2, and it's up some 1,600,000 percent since that date.
Fast forward to today, and Bitcoin's price has soared to nearly $35,000 per coin, marking a phenomenal increase from the days when it was valued in the single digits. Allen's tweet has since become a symbol of how the cryptocurrency has defied expectations and evolved into a mainstream asset class.
I think this scenario is only based on how the chart is moving as if there were always the same amount of players. In the traditional financial markets this is what we have. It's a bunch of hedge funds and Banks all buying and selling with a few retail traders sprinkled in. But when it comes to bitcoin, what we will likely see is an influx of buying that the world has never seen. Very few people actually own stocks and hence why the world's wealth is mostly held by the top 10% of people. But Bitcoin can unleash an unprecedented amount of buyers. The guy who only has $100 and can't even open up a brokerage account might actually be able to buy Bitcoin from a lightning wallet on his app.
The traditional way that we are using technical analysis on charts only works because the players are all generally the same. But once you introduce this other variable of hundreds of millions of people interested in buying a finite supply of satoshis then whatever model we are using to price Bitcoin well prove to be inadequate.
I dunno what to say. Throughout my 30+ years of trading, I've heard "THIS TIME IT'S DIFFERENT, DAMN IT!!" on soooooo many occasions.
But I really don't mind if it jumps up to $1 million (or more as I've been hearing of late). You know I'll be there with ya.
BTW what exactly would happen once all the BTC, down to the last satoshi, have been minted? I'm asking because currently BTC doesn't have whole lot of practical use other than as an investment. Only a very small fraction of what's in circulation is being used for goods and services. Plus BTC has plenty of competitors like cash and credit cards. So I don't really understand why the demand for BTC (especially from the ordinary folks) would suddenly spike just because it will no longer be mined.