BTCUSDT20240717P66500
Bitcoin / Tether USD Jul 17 2024 66500.00 Put
crypto

I come from $BTC world, and obviously everyone says to run your own node, because don't they enforce consensus rules? Isn't that what happened when BCH forked? Most nodes didn't switch?

It's just weird to me to hear that the nodes are just not useful for the security of the network. Someone explain please.

I sold all my remaining crypto in December and put it into SP500. Working out okay so far. Not interested in making home run swings so shorting BTC is not of any interest. I just lost faith in crypto and couldn't see a world where it would continue to gain momentum.
It might long term, but I decided it wasn't worth the small portion of my portfolio anymore.

I wanted to buy BTC when it was well below $1000, but it was next to impossible for me to do it here in Canada. Not saying it was impossible, but it was practically impossible where I lived. The information about how to do it wasn't widely available, and the exchanges I could access in Canada either weren't up yet or were mostly really shady. I'm happy I did not buy before I eventually did circa 2020 (initially via QBTC / The Bitcoin Fund), because any earlier and I likely would have used, and probably would have lost everything on, QuadrigaCX.

I think Bitcoiners should really be thanking Saylor instead of slandering him. What if Saylor hadn’t commissioned his company to buy BILLIONS of dollars of BTC? What do you think BTC would be worth today? Make no mistake about it. Saylor is a net positive. Anyone that is for BTC and against Saylor is creating civil war confusion and should really evaluate their perspective. Imagine if Saylor just came out tomorrow and sold every Bitcoin he owned? He’d literally destroy it all together. The carnage would be of biblical proportion.

oh I see. that is a valid point. Saylor's position is that any attempt to time the market would make him a short term trader and he wants to be a long term investor.
current bottom around $60k is roughly matching the top of the previous cycle. just like the 2022 bottom of $16k was similar to the top of the cycle before that. so if Strategy survives another cycle or two all BTC they have now would be cheap. so, yes, currently it looks dumb to have some much BTC that cost him $100k-$120k. arguably, this will be the price in the 2030 bear, so no big deal then

Depends what Trump says between now and then. Currently id say bloodbath (peace talks collapsing, Israel continues bombing, Trump threats of US tolls in the straight, etc). It's been a busy weekend of bad news. STRC also depegged from $100 tied to BTC so that's it's own thing as well which may or may not play into a BTC decrease (which may shift market negative). That being said it might just as well pump green despite the world being on fire because the market seems detached from reality daily.

STRC doesn't need to go to $0 for Microstrategy to be in trouble. Microstrategy only uses STRC to buy BTC when it's above $100.
If it sits at $95-99 and never gets back to $100, then Microstrategy can't sell it to continue the STRC flywheel to buy BTC. STRC dividends will very slowly erode the value of MSTR through dividend payments while not providing anything back in return.

What it comes down is humans positioning for an advantage.
Everytime something works, there will always be people who want to do even better. So say Real Estate or Bitcoin or stocks do well. Then some guy comes along and says, give me your money because I'll do BETTER than XYZ.
So the game theory is this, if you give him your money and the asset does well, he wins. If you just buy the asset, he wins. The only way to beat him is to not give him money AND not buy the asset.
Michael Saylor has created a situation where buying BTC is better for him than you. Buying MSTR is better for him than you. Buying STRC is better for him than you. And generally humans like outperforming other humans, so most people don't want to give Saylor that advantage. The only way to not let him win is to not buy BTC, MSTR, or STRC.
Now why are we competing with some dude who we don't know? I dunno, but humans are weird that way.

I usually sell the CSP on Mondays and capture 30-50% of the premium by Wednesday so I BTC.

one more thing. the cycle top is hard to predict, it could just double, but there is no rule saying it cannot 5x or more this time around, so $50 bottom x 4 = $200,000 sounds right to me. last time it was 17k x 7 to get us the top. this time, it may only be a 4-5x and give us 200-300. But believe this, if you've been DCA over the last 4 years+, you'll be very happy. no other financial instrument will test your patience more than BTC.

Ya. We are sure. Dude sells a few BTC and then it’s end of the world. People need to relax.

People probably won’t realize how scarce BTC is until 2035 which is when it’s expected to reach that point.

Lol they keep trying to kill BTC and it ain't gonna happen.

Standard Chartered called the bottom at $59K eight days ago. Since then we got a hawkish Fed, a collapsed peace signing, and BTC back in the low $60s. At what point do we admit nobody actually knows?

Uh guys I thought shorting MSTR and BTC was free money

Of course, and absolutely. I usually try to follow a 30/50/75% rule. I.e., if I STO Monday morning, and I capture 30% that same day, I will definitely BTC. 50% by Tuesday/Wednesday. 75% By Wed/Thurs, etc.

If BTC was gonna fail, it would've failed already before all the institutions got involved

Why do you feel the need to post that you went all in on BTC? It's your money do what you want unless you are seeking the validation of internet strangers.

You are a wise planner. The question is whether you will encounter difficulties in life in the future and then sell your BTC. If you hold onto it for the long term, you will definitely become a millionaire or multi-millionaire in 20 years.

MSTR- BTC is not even up, why its movig overnight.