Bitcoin is in a weird position right now.
It is hovering around $100k for some reason.
With the amount of ETF buying and Michael Saylor buying, there should be a lot of up pressure on the price, but there isn't.
So, are we at the top? The bottom? Or are we on the cusp of something that will be economics redefining?
Many people say bitcoin is a bubble, and about to pop. Bitcoin will go to zero. Bitcoin is dead… again.
And there is that possibility. The US govern-cement could, somehow, destroy it. By regulating it out of existence. Turning off the electric grid. Shutting off the internet. And/or demanding everyone use FedNowCash, under penalty of being shot, without a trial.
Of course, none of this would work. As every piece of that, people all over the world would not even notice, and the people in The US would just find a work around.
The Elite could do something that makes bitcoin boring, and so destroy it that way. However, bitcoin lovers are usually Elite haters and don't listen to the TV.
With bitcoin ETFs being the fastest growing ETFs ever, and interest is not waning, but growing, so, i am pretty sure that bitcoin is not in a bubble.
Instead of popping, crashing, fizzling out, or going to zero, it actually appears that everything is going to zero vs. bitcoin.
Bitcoin is growing bigger.
Trump announced creating a bitcoin reserve for America. (not The US… weird)
Many other countries are talking about front-running America.
Michael Saylor is raising more funds to buy more bitcoin.
Many companies are talking about getting into bitcoin too.
Of course, if these companies / countries are all talking about it, they have already been doing it, quietly.
And that may be the biggest problem. Everyone is buying; who is selling?
I hope that Coinbase is not selling customer's cold stored bitcoin. If they are, they are a gone company. Because bitcoin is about to skyrocket, and become unobtainium. Coinbase will never be able to afford the bitcoin to give back, and there won't be anyone selling, if they could afford it.
It is all about the supply crunch.
If The US actually starts buying bitcoin, they have all the dollars to throw at it. The price can go sky high. The only stop is where the dollar stops being valuable. (at least in bitcoin terms)
Maybe there is a lot more people out there willing to provide bitcoin at $100k. And they are selling to the likes of Michael Saylor directly; not being put onto the exchange.
But what happens when enough people are willing to buy up whatever is offered, at whatever price is offered? When everything put onto an exchange is bought at whatever the ask is?
Instead of an exchange, which is trying to find market price because of enough liquidity, we change to an auction. And people bid whatever they can, to get an ever increasingly scarce commodity.
Things could get really furious out there on bitcoin sites.
But, what does this all really mean?
We are at the start of bitcoin becoming the world reserve commodity. (not cyrpto adoption)
Gold is a problematic commodity. Especially in a world where everyone is going to war. It becomes impossible to exchange. Especially when no one trusts each other.
Whereas bitcoin doesn't care about borders. It can go everywhere the internet goes. And its trustless. The perfect thing for the govern-cements and large corporations to use in balancing the books.
So, if we do not see the supply crunch. Bitcoin is going to somewhere around $250,000.
If we do run out of bitcoin on exchanges, bitcoin will go to prices that are unbelievable. $1 million will be the price before people just give up trying to price bitcoin in dollars. Before $10 million, we will see things priced in bitcoin. There just isn't enough actual liquid cash to convert into and out of crypto to do those transactions. There is only enough Tether to buy 13,000 bitcoin at those prices.
Which also leads to another piece to ponder over. As they print more dollars to buy more bitcoin, stable coins may go up in value because they can't print enough tokens to keep up with the inflation. So, USDT may go to $3.
The rush to get into bitcoin will be real.
It's the Russians who are the source of the selling.
A few weeks ago, the Russian finance minister admitted they were paying for stuff with bitcoin to get round the sanctions/restrictions on using the dollar banking network. They mine bitcoin using their surplus natural gas. Then pay for parts and tech with bitcoin. The recipients of the bitcoins then sell them to book their profit in their local currency or dollars.
BTC, you mean. A public ledger of all transactions that can be centrally controlled because it all depends on the physical network it is transmitted over, that censoring this or that specific datum on is trivial, and transactions are only validated by the banksters that have bought all the miners.
BTC is going to the moon. The higher it goes the more fiat will inflate to make BTC the only viable currency - and it is a trap. When your fortune has just been inflated into $M's, even $B's, will you just walk away when to enjoy your fortune you must submit to biometric ID, to being tracked and traced, surveilled and probed to leave your 15 minute prison? When your BTC fortune is the only way to purchase some bugburgers and stave off starvation, will you be in a position to refuse to eat ze bugs because you have invested in food producing infrastructure instead of the massively bubbling BTC opportunity that has driven you wild with greed?
Dollars are what HBD mirror. When the value of dollars is inflated away, and like Deutschmarks in Weimar Germany, become 1/billionth as valuable, HBD will not be able to be devalued fast enough to keep up with hyperinflation - but this will not make them more profitable. It will make them useless. When BTC is $1B, or $1m, or whenever they decide it's enough, that is when the trap will be sprung. There's no playing the market when the market is the trap. As long as crypto must depend on proprietary infrastructure, the black box that is the privately owned internet, that validate every transaction, the private parties that own that network can decide which datum to transmit and which transactions to validate. It does not require a law, a government policy we will consider and vote on. They can just impose a CO2 ledger on transactions because they are the miners that validate transactions. Their hashpower, their transactions.
Invest in real wealth, not financialization. Invest in what your hands can make, not dependence on the benevolence of the banksters. They are not benevolent, and every fattening of your 'profits' is just making the bait juicier.
Ok, propose one. How will you transact with your fresh fabulous fortune in BTC when the miners that must mine the blocks validating that transaction are the Fed, the WEF, and Greterbae that will allow only approved CO2 reducing transactions? When the transactions aren't transmitted because that data isn't clear text, but encrypted? When the Commies' laws say you have eaten one too many burgers this year and can only spend your $B's on bugs, and you have to use your biometric ID to log in to the proprietary internet to send a payment to Bob's Burgers for your illicit meat, and Bob cannot accept the payment or Grok will grok the spend and butcher Bob for his CO2 crime? How can you work around depending on overlords for your wealth?
I tell you now: do not depend on overlords that pretend to benevolence now to bait the trap they will spring with malevolence then. Buy reticulum or BTC will not have ANY actual value because it cannot be communicated to transact with. Also, BTC is captured by IRL banksters, that own the mining process that validates all transactions. It is known. How can you validate BTC transactions without the miners? You can't. BTC cannot be anything else but a trap. The CBDC features do not have to be programmed into BTC because they can be programmed into the validation done by miners, and in transmission over their network. There is no workaround because those are built into BTC, and if you change them it's not BTC you're using anymore. BTC is governed, and it's governed by the miners. Back in 2017 they charged as much as 25% to post transactions in blocks. They can charge whatever they like to post transactions, and you can't transact unless they post it. You can't post it because you don't have the hashpower to outcompete them. They bought it, and they own it.
You can only use BTC at their pleasure. It's a trap that hasn't sprung yet. The jaws tremble with constrained power to snap, quivering with anticipation of the helplessness of the victims they will close down.
Escape. The inflation that inflames your greed will only become more powerful as they fatten the prize that is your BTC. Just walk away, and the horror will end.
Invest in actual wealth, in tools to produce goods and services available to you right now. At least to destroy that investment they will have to physically take it, unlike BTC that can become CBDC at the flick of a switch, the activation of an algorithm, asserted by AI at any time. BTC is a trap. Run away.
I have more tools then bitcoin or silver. What i need right now is a workshop.
I do know that XRP is just like you say bitcoin is.
I do not know where bitcoin is going to go. It may be just the thing to fund money into a internet alternative. So, although it is a trap, it is the way to get out of the trap.
The banksters will fail. It will be interesting to watch how.
When I was younger I considered it best to suffer intentionally the traps in my path, in order that I attain to the benefits of learning to extricate myself from them. This is an egregious error, because some trappers and their traps are insuperable by little ol' me, and I have learned this to my enduring regret. What we survive does not necessarily make us stronger, but can leave us injured, lame, and impoverished. I am confident BTC is such a trap, and accordingly recommend avoiding it.
All crypto is susceptible to the flaws I pointed out, being useless without the proprietary network they depend on to be fungible, that facilitates adding the features that transform money into CBDC, and being facile to censor. Reticulum is at least an attempt to create an independent network, and nothing less can enable crypto to escape the control of legacy financial power. However, Reticulum is not mature, adoption has not become nominal to create a global network, or the base of a global network, yet. It also requires long haul capacity to move beyond local networks that have not yet been introduced to my knowledge.
The internet is the jaws of the trap. It is the lock the owners of that physical infrastructure alone have keys to, because they own it and do not have to allow their intended victims to use it to escape their control. They can require any additional functions they want before they agree to xmit transactions, such as are concomitant to CBDC's, or they can just censor any data they want with utter facility.
I endeavor to develop other mechanisms for economic growth and transactions I intend to be independent of BTC and other commandeered and perverted money technology (including fiat, PM's, and anything else that demonstrates or facilitates financialization or control by centralized hierarchical institutions), insofar as I am competent to do so. While this seems like such a tall order it is insurmountable, especially when humbly recognizing my incompetence, it is absolutely less insurmountable than the deliberate trap BTC is devised to be by absolutely brilliant and malevolent enemies of humanity.
I agree, but I am not convinced they will fail prior to eradicating the majority of humanity, and will only fail to devise and sustain some kind of society of psychopaths thereafter, as they have demonstrated throughout history. They appear very competent to wreak havoc and slaughter before then, and have serially demonstrated competence to destroy empires across history, causing untold suffering and democide each time. For this reason I am devoted to making every effort to gain independence from them for necessities as quickly and as well as possible, because decentralized means of production today are the leading edge of tech advance in every field of industry, and the most advanced tech is the most productive tech. That's the whole point of advancing tech, after all. Because decentralized production is the most productive tech, competent free people that adopt it will outcompete their returns from providing labor in centralized production, and centralized production as communities and society. Modern tech hasn't been available until now, and this is why we have an opportunity Sumerian, Egyptian, and all prior civilian populations have not. Centralization is shown to be a temporary phase humanity has endured while technology advanced from the Stone age to the Space age, and that advance has been completed. In the Space age decentralization of means of production concatenates with the potential illimitable resources beyond Earth, and continuing development and dispersal of decentralization quickly and obviously leads to unimaginable potential prosperity, after first surmounting the hurdle of psychopathic overlords whose only purpose and intention is to maintain their flow of wealth and power centralization inherently enables them to parasitize. They are obligate parasites, and meritocratic decentralization is the cure for their infestation.
This particularly includes security, and is the only mechanism I have considered that presents potential to surmount the challenges and democidal poly-catastrophe we face. If we want to watch the banksters fail we will have to survive their worst afflictions and utter collapse, which will first take down extant civil society and supply lines. There is no way remaining dependent on centralized production facilitates such survival, and this is why I incessantly promote adoption of decentralized means of production, as do you.
Edit: I apologize for all the edits.
No we haven’t hit top. Not yet.
I agree. Now we get to see the entire monetary system try to get through the door into crypto.
Agree! 💯