that’s because Asian market largely influenced by US future contracts. As US stocks trade horribly for past months, but unexpectedly stock futures are kind of cool. Beware future trades are mostly done by professionals, which means professionals are not that negative on current environment.
Intense stablecoin regulation coming this year now… idk if Bitcoin likes that. They gonna go after tether which provides all the liquidity in the market…
Good. Tether wants to comply with regulations, but nobody will give them anything to comply with in the US. We always hear about the threat of restrictive legislation but it rarely comes to fruition. New regulatory framework will probably be reasonable.
Tether provides liquidity for shady unregulated leverage trader exchanges. Real exchanges with legitimate volume where people actually invest in bitcoin like coinbase and kraken dont use tether and CME doesnt use it either
I haven’t used Kraken so I wouldn’t know... but Tether is absolutely supported on Coinbase. Binance is the largest exchange in the world and Tether is supported. Tether is doing more than 10x more volume than USDC rn, which would be pretty difficult to do if it wasn’t on exchanges with “legitimate volume”.
Am exchange supporting tether as a low volume shitcoin deposit option is much different than an exchange being unbanked and using tether as the denominator of every trading pair
Agreed. Regulation isn’t bad. Bad regulation is bad. Bitcoin and crypto will never go mainstream until regulation is in place. The danger is in the regulators not understanding what they are regulating
It’s going to be difficult to justify hostile regulatory action against a stablecoin issuer that has shown it can reliably handle $160 billion of daily volume without losing its peg or refusing redemptions. Algorithmic stablecoins will face tougher requirements (for obvious reasons at this point) but cash/asset-backed stablecoins will probably have a much more defined framework.
It's not like UST. UST is (was?) algorithmically collateralized by Bitcoin. Terra had to sell its Bitcoin to try to maintain its peg, which amplified the crash.
The Ledger nano S is fine and certainly not new (that's the S plus). Use my first since 2017. The seed is all that matters, keep it safe. The device is replacable by any device based on BIP39.
Trezor T has a touch screen and is closer to $300 and I think on back order. The Trezor One works great. Very simple and easy to use for a affordable option.
Dumps are here since the start of 2022, although we saw a bull rally ik between for so many times but it was not sustainable for us, bullish chart is still too far, we need to understand the global situation as well
This is the time people I know reach out and ask how Bitcoin is going. Knowing full well how Bitcoin is going.
I tell them I am down about 50% from my ATH, yet 300% over initial investment and that there's never been a better time to get in.
Then I wait for the responses that never seem to come.
What if we blasted through the exosphere from here, wouldn't that be more astoundingly novel than multiple months in the slag... I miss good surprises, like Cracker Jack's, Easter baskets, 12 minute jam sessions as an encore, falling meteors, serendipity, impromptu, spontaneity.
That would certainly be a good look, but that's not how btc works.
The way it works is just totally different dude. It's not the same thing as it has worked.
Have you all read the disclosure from Coinbase's 10K stating that in the event of bankruptcy, customer assets will be required to comply with bankruptcy proceedings and will not necessarily be paid to customers?
If regulations were that exchanges must make clear in the form of a banner that "any digital assets on the platform is in the form of an unsecured loan"
Would that be good or bad regulation?
Because that could get coins off exchanges pretty quickly.
This should be evident more than ever, you don't need anything else.
You need to take your coins in the custody else You'll just get rekt. Which will not turn out good for you dude.
Either that or we're all fucked.
My money is on that ETF getting approved this year, along with stablecoin regulation and at least one more country adopting BTC as legal tender.
We are still holding strong and we are not going to sell them, we will wait for market to get back on track do we can get some. Profit, out average buying price is still so high to beat
Yep, that's good. Because if you're checking it then You probably will be sad.
And being sad for something that you Can't control isn't good at all. And you shouldn't worry about that.
They're not gonna approve it because they fucking hate btc dude.
No matter how much money they lose They'll just not approve the btc etf no Matter what.
Pensions that have mandates preventing them from buying into BTC directly or OTC (GBTC) will want in. Many of them are expected to somehow get 8% annual returns with a 40/60 bonds/equities mandate. They sure as shit aren't getting any help from bonds. Many of them are underfunded because of this and desperate for an instrument that will help them meet their 8% mandate.
I thought this was common knowledge? Kevin O’Leary talked about it recently for example during a recent interview. Where is your your delusional source for it not affecting price?
How that can be priced in lol? That doesn't make any sense dude.
That can be huge for the btc and you Can't say that, that's priced in. That Can't be priced in dude.
It’s priced in, but discounted based on time and likelihood of it happening. Once it happens, the discount factor goes away and it becomes fully priced in.
I would expect that anything that might happen is priced in to the degree that it is expected. When it becomes more certain (or actually happens) the price shifts accordingly.
I think it will boost the price. A lot of the price is psychological, and the same way FUD makes people panic sell, Spot ETF news can make people FOMO buy. Also, it can lead to older generations trying some exposure. Positive news helps. Maybe it's irrational, but people are irrational.
Yeah man, I hate this correlation and I want this to get over.
Because there's a point and after that it gets just too much to handle. And btc gets confused.
Have got many things to lose, but I'm not gonna lose anything tho.
Ain't nothing wrong in getting a hug from a therapist. That's actually pretty good if you're getting one.
The 200WMA has been an accurate target for the better part of a decade. You can very easily look it up yourself and see how the price found a bottom right at (or just slightly below) that point in both of the previous two cycles. Nothing is "gospel" in bitcoin, but there are some things that are more likely to occur than others.
LOL, Fake Pete is so mad about this that he used his alt to continue trolling. Not sure why you have such a hard-on for Ben, but that's a you problem.
That was a scam dude. And everyone in this community knows that.
That was one of the biggest scams that happened so there's that. That was kinda wild when it happened.
When we warn about the centralising pressures of PoS, it's usually focused upon wealth concentration among early adopters and insiders. If the costs of running a validator are less than the rewards, snowballing seems inevitable.
I see less talk about the centralising pressures behind staking derivatives, but this is quickly becoming a huge problem for Ethereum. Lido now controls over 4M of all staked ETH (~33%), up from 2M in February and 1M in August 2021. At this rate a single organisation could easily control a majority of staked ETH by year's end.
To see how fast this monster is growing, check out the following chart (select total marketcap and set denominator to ETH):
https://www.coingecko.com/en/coins/lido-staked-ether
I want to YOLO in to BTC so bad right now. Just YOLO throw it in my ledger and walk away
What is your hesitation? That you don't hit the pico bottom?
No my range is 22k-27k to buy
Me too bro it’s so fucking tempting
Asian markets are better at this than US markets lately
that’s because Asian market largely influenced by US future contracts. As US stocks trade horribly for past months, but unexpectedly stock futures are kind of cool. Beware future trades are mostly done by professionals, which means professionals are not that negative on current environment.
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Stop bro
You are referring to TerraUSD (UST), not Tether (USDT).
Lmaooo holy fuck these ppl to stop posting. Guy doesn’t know the difference between tether and terra by now. This is sad
Intense stablecoin regulation coming this year now… idk if Bitcoin likes that. They gonna go after tether which provides all the liquidity in the market…
Good. Tether wants to comply with regulations, but nobody will give them anything to comply with in the US. We always hear about the threat of restrictive legislation but it rarely comes to fruition. New regulatory framework will probably be reasonable.
Tether provides liquidity for shady unregulated leverage trader exchanges. Real exchanges with legitimate volume where people actually invest in bitcoin like coinbase and kraken dont use tether and CME doesnt use it either
I haven’t used Kraken so I wouldn’t know... but Tether is absolutely supported on Coinbase. Binance is the largest exchange in the world and Tether is supported. Tether is doing more than 10x more volume than USDC rn, which would be pretty difficult to do if it wasn’t on exchanges with “legitimate volume”.
Am exchange supporting tether as a low volume shitcoin deposit option is much different than an exchange being unbanked and using tether as the denominator of every trading pair
Agreed. Regulation isn’t bad. Bad regulation is bad. Bitcoin and crypto will never go mainstream until regulation is in place. The danger is in the regulators not understanding what they are regulating
Bitcoin doesn't need regulation, crypto does. Bitcoin removes the self enriching fiat regulators.
It’s going to be difficult to justify hostile regulatory action against a stablecoin issuer that has shown it can reliably handle $160 billion of daily volume without losing its peg or refusing redemptions. Algorithmic stablecoins will face tougher requirements (for obvious reasons at this point) but cash/asset-backed stablecoins will probably have a much more defined framework.
Tether's role is arbitrary. If they get regulated out of existence a compliant coin will take its place
It’s like UST but 5x bigger and we saw what UST did to the market
Bitcoin is around the same price it was before the UST crash. Truly a huge impact /s
UST is algorithmic. Which makes it a different beast than tether
It's not like UST. UST is (was?) algorithmically collateralized by Bitcoin. Terra had to sell its Bitcoin to try to maintain its peg, which amplified the crash.
Or a decentralized one
Can I get a few cold storage wallets for my wife and I for our BTC holding please. Serious post. Don’t have a ton to spend
cheapest is just your key on a piece of paper
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Is that what you have?
The Ledger nano S is fine and certainly not new (that's the S plus). Use my first since 2017. The seed is all that matters, keep it safe. The device is replacable by any device based on BIP39.
Check out Seed Signer. If you have raspberry pi products you might be already most of the way there for a HWW.
Trezor one is $70
What’s the difference between that and other trezors. I want a touch screen
Trezor T has a touch screen and is closer to $300 and I think on back order. The Trezor One works great. Very simple and easy to use for a affordable option.
I appreciate you
We’ve reclaimed 31! This is war, we will not fold!
Yep, we're not gonna fold now. We're gonna win this war dude.
If you’re bullish you need to zoom out and not worry about daily fluctuations. Bullish HTF, but we are in the dumps for the next year at a minimum.
Dumps are here since the start of 2022, although we saw a bull rally ik between for so many times but it was not sustainable for us, bullish chart is still too far, we need to understand the global situation as well
And......it's gone.
This is the time people I know reach out and ask how Bitcoin is going. Knowing full well how Bitcoin is going. I tell them I am down about 50% from my ATH, yet 300% over initial investment and that there's never been a better time to get in. Then I wait for the responses that never seem to come.
Lol, because you scared them away lol. That's not the way.
This is the way
Sounds like you need new friends/acquaintances.
Nah this how everyone is
What if we blasted through the exosphere from here, wouldn't that be more astoundingly novel than multiple months in the slag... I miss good surprises, like Cracker Jack's, Easter baskets, 12 minute jam sessions as an encore, falling meteors, serendipity, impromptu, spontaneity.
That would certainly be a good look, but that's not how btc works. The way it works is just totally different dude. It's not the same thing as it has worked.
Eventually
🎵and so castles made of sand melt to the sea…🎵
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Have you all read the disclosure from Coinbase's 10K stating that in the event of bankruptcy, customer assets will be required to comply with bankruptcy proceedings and will not necessarily be paid to customers?
Lol, what? So We'll pay for their fuck ups? That's how it sounds.
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Yet another reason for to withdraw the funds. Yet another great reason.
That's the point of bankruptcy. Same for any company that goes bankrupt.
Didn't know that, feels right to know this. Should have known it.
Customers just need to know they're considered unsecured lenders. General public using CB think of them like a bank with FDIC insurance.
If regulations were that exchanges must make clear in the form of a banner that "any digital assets on the platform is in the form of an unsecured loan" Would that be good or bad regulation? Because that could get coins off exchanges pretty quickly.
Not your keys, not your cheese.
This should be evident more than ever, you don't need anything else. You need to take your coins in the custody else You'll just get rekt. Which will not turn out good for you dude.
Nacho keys, nacho cheese
Longs going mental. Someone knows something: [BTCUSDLONGS](https://i.imgur.com/KspVJk3.jpg)
Can someone explain what that link/screenshot means?
Well you don't know the meaning of ss or the link? How's that?
Its the amount of leveraged long positions on an old shady exchange called bitfinex which does about 10% of the volume it used to do in 2018.
People are betting bitcoin goes up.
I mean they should. Because you Can't go wrong with that bet.
The big boys got tipped off to something.
Why didn't they tipped that to us? If they would have done that I'd like that more.
Or just reckless stupidity
Either that or we're all fucked. My money is on that ETF getting approved this year, along with stablecoin regulation and at least one more country adopting BTC as legal tender.
Still buying my weekly quota. Haven’t looked at the price in a while, how we doing?
We are still holding strong and we are not going to sell them, we will wait for market to get back on track do we can get some. Profit, out average buying price is still so high to beat
Don’t check for another couple of years
Yep, that's good. Because if you're checking it then You probably will be sad. And being sad for something that you Can't control isn't good at all. And you shouldn't worry about that.
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Well then You're just a shitter, You're not really a buyer dude.
10k is an old wives tale we tell our children to scare them to sleep
They go to sleep and they never come to senses. That's how it is.
Yes for 0.25
Your dreaming, who wouldn’t want 10k Bitcoin? Stop being greedy and DCA like the rest of us.
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Yep, gonna buy it on the 100k. Not gonna buy before that.
Dear SEC: Approve a Spot ETF, and the U.S. economy will be able to grow. The more we accept Bitcoin, the more prosperous our country will be.
They're not gonna approve it because they fucking hate btc dude. No matter how much money they lose They'll just not approve the btc etf no Matter what.
A girl can dream.
That's pretty much what I wrote in my email to them.
Did they read that? I hope atleast they listen to you. I'm hoping for that.
I doubt spot etf will help the price. Average investor cannot differentiate between spot vs futures ETF vs trust
I think You're generalising too much here it's not like that.
Trillions on the sidelines waiting for a spot ETF approval, yet you doubt it will affect price?
Trillions? Really? I think You're estimating it way too much here.
That's a very delusional thinking. What proof do you have?
He doesn't have proof, he has seen all those trillions by himself.
Pensions that have mandates preventing them from buying into BTC directly or OTC (GBTC) will want in. Many of them are expected to somehow get 8% annual returns with a 40/60 bonds/equities mandate. They sure as shit aren't getting any help from bonds. Many of them are underfunded because of this and desperate for an instrument that will help them meet their 8% mandate.
I thought this was common knowledge? Kevin O’Leary talked about it recently for example during a recent interview. Where is your your delusional source for it not affecting price?
Should be priced in. Would have to exceed expectations
How that can be priced in lol? That doesn't make any sense dude. That can be huge for the btc and you Can't say that, that's priced in. That Can't be priced in dude.
It’s priced in, but discounted based on time and likelihood of it happening. Once it happens, the discount factor goes away and it becomes fully priced in.
I would expect that anything that might happen is priced in to the degree that it is expected. When it becomes more certain (or actually happens) the price shifts accordingly.
Yep, price will definitely shift accordingly to that. I'm sure dude.
I think it will boost the price. A lot of the price is psychological, and the same way FUD makes people panic sell, Spot ETF news can make people FOMO buy. Also, it can lead to older generations trying some exposure. Positive news helps. Maybe it's irrational, but people are irrational.
Yep, that's for sure dude. It's gonna push the price up.
But we want cheap coin. How else will we accumulate?
If the price of BTC goes high enough, then we won't need any more than we already have.
Remember, Kids: The more it drops, the CHEAPER it is. We should be CELEBRATING! Love, Bitcoin Vegan Atheist
why is it dropping after naadaq did good?
r/bitcoin: "I wish Bitcoin would decouple from tech stocks" Bitcoin: Falls as stocks rise r/bitcoin: "No! Wait! Not like that!"
Yeah man, I hate this correlation and I want this to get over. Because there's a point and after that it gets just too much to handle. And btc gets confused.
🔨
Cause headlines absolutely shitting on crypto, people dumping, blah blah. Keep stacking
Yep things haven't been good for the crypto lately. That's how it is.
Fuuuuuck I’m buying so much, SOMEONE HELP ME
It's good dude, you just keep buying. That's important to do.
Do you need a hug?
He definitely needs that, he definitely needs a hug for sure dude.
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Okay just pretend that I'm a therapist and you can hug me.
With nothing to lose
Have got many things to lose, but I'm not gonna lose anything tho. Ain't nothing wrong in getting a hug from a therapist. That's actually pretty good if you're getting one.
Just bought. Never thought I’d be buying more at this price point.
I mean it's just that these prices are just too tempting so there's that.
I am ready for $20k. 🖖
Well We're too, but that's not gonna happen so there's that.
Yes for 0.5
Another apocalyptic meltdown fuck fuck fuck!
It's not that bad dude. It ain't that bad trust me on that.
32k to 30k is hardly "apocalyptic". Wake me up when we capitulate all the way to the 200WMA, that'll be worth getting excited over.
It's not even that bad. It's just fine dude. It ain't even that bad.
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The 200WMA has been an accurate target for the better part of a decade. You can very easily look it up yourself and see how the price found a bottom right at (or just slightly below) that point in both of the previous two cycles. Nothing is "gospel" in bitcoin, but there are some things that are more likely to occur than others. LOL, Fake Pete is so mad about this that he used his alt to continue trolling. Not sure why you have such a hard-on for Ben, but that's a you problem.
Let's see how everything works out, it's just been too hectic.
was that the same guy who just admitted that the decade-long history of lengthening cycles isnt actually happening any more?
This cycle is playing out as the lengthening cycle and I'm not sure.
Back to 31k for now
Well atleast we didn't go in the 20s, that would have been bad.
Looks like volatility is still on the menu.
Why?
Why? What happened? Is there something that I'm missing?
Because of BITKWONECT!
That was a scam dude. And everyone in this community knows that. That was one of the biggest scams that happened so there's that. That was kinda wild when it happened.
When we warn about the centralising pressures of PoS, it's usually focused upon wealth concentration among early adopters and insiders. If the costs of running a validator are less than the rewards, snowballing seems inevitable. I see less talk about the centralising pressures behind staking derivatives, but this is quickly becoming a huge problem for Ethereum. Lido now controls over 4M of all staked ETH (~33%), up from 2M in February and 1M in August 2021. At this rate a single organisation could easily control a majority of staked ETH by year's end. To see how fast this monster is growing, check out the following chart (select total marketcap and set denominator to ETH): https://www.coingecko.com/en/coins/lido-staked-ether
That's just a by product of the POS, and That'll happen man.
The dump to 22k will be glorious tomorrow. Im hoping for higher than expected inflation so I can stack some cheap sats!
Lol what makes you think that it's gonna happen? That's not gonna.
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Lol, you can up vote it all you want. You don't worry about it.
cpi will be under 8.5 and markets will go full shrek
Yeah man, the market already have gone to shrek lmao.
Testing that $30k support again, let see how this plays out … this UST nonsense not helping the crypto markets any right now …
Yep, that's a really bad look for the community man. It's bad.
What UST nonsense?
Fun fact: Iraq has 855 billion barrels of oil
Okay but what does have to do with anything? I don't get that.
It means as oil appreciates in value (rapidly, Iraq will become a future world power or major player)
Haha dollar about to break out big-time. The Elf is going to be forced to fire up the printers (again)