BTCUSDT20240816C61000
Bitcoin / Tether USD Aug 16 2024 61000.00 Call
crypto

BTC to USDT swaps in DeFi are rough because of the bridge layer between Bitcoin and EVM. UX still has a long way to go. walletV handles multichain including Bitcoin, focused on the trading side. For anyone already in USDC or USDT wanting AI-driven perp strategies on Hyperliquid, the friction from that point forward is much lower.

Currently 10,000 U.S. dollars will buy 0.16 BTC.
In 2030 that BTC will still be worth 0.16 BTC.

Update: From wanting 100% BTC to looking for a balance Thoughts?

Hi all,
So I got about 25 sovereign gold coins that I inherited early. I was never a buy gold kind of guy in my investing journey and I know gold price went quite up the last year and its very common for it to also stall for decades.
The price for each coin at my local gold dealer is about 900 usd (i pay no taxes on selling them as i live in a country where its tax free).
I'm thinking of selling them and putting it in my 90%VT 10%BTC portfolio but looking at what others think.
Thank you!

MSTR doesn't want to sell, they want to borrow against their BTC holdings

>A 51% attack cannot be carried out "on an exchange."
How else would you profit on a 51% attack? You send BTC to an exchange and wait the required confirmations. You sell it and then you buy something else with it it. You withdraw this other crypto. Then you send the longer chain of blocks you where building with your 51% attack to the network. The previous transaction of your sending your BTC is now no longer valid. The consensus is now that you still own your BTC, it was never send to the exchange. But you do have that other crypto you withdrew.

A couple of months ago, a colleague proudly told me that he had purchased "2 whole bitcoins" for $80,000 each. I asked him to show them to me so I could see what he had spent $160,000 on.
He opened his wallet application and pointed to the screen, which displayed 2 BTC. When he claimed that those were his bitcoins, I disagreed, explaining that he was merely showing me a record.
To prove my point, I wrote "2 BTC" on a piece of paper, held it up, and joked that I had just created two bitcoins for free.
He laughed and objected, arguing that my paper note wasn't Bitcoin. He explained that Bitcoin only exists when a network of computers running the Bitcoin protocol records that someone has 2 BTC.
I accepted his premise and suggested we examine the entire Bitcoin system to see what we could find.
So there's are computers, software, cryptographic keys, blockchain records, including his own "2 BTC". Yet, despite looking through everything, something that could actually be defined as "two bitcoins" wasn't there. I pointed out to him that his purchase is nothing more than what I had written on the paper for free.
At that point, my colleague shifted the argument to fiat currency. He countered that if I had $1,000 in a banking app, he could similarly write "$1,000" on a piece of paper and have exactly the same thing for free.
I rejected his comparison and proposed that we examine the banking system the same way we did with Bitcoin. I explained that while we would find computers, software, and database records showing my 1,000 USD, we would also find the underlying loan contracts that created those dollars. We would find real borrowers who are legally required to repay those loans. Therefore, what I have is a claim on the future production of bank debtors.
I further explained that those debtors must provide actual goods, services, labor, or assets to earn the dollars needed to settle their debts. If they fail to do so, their property is seized and sold at a bank auction to honor the claim.
I noted that when he wrote "$1,000" on a piece of paper, he had only created symbols, not a claim on debtors and their property. Conversely, with his two bitcoins, I had created the exact same thing he showed me: just one number and three letters.
I concluded that modern snake-oil salesmens had convinced him to give up actual claims equivalent in value to four new cars for something that anyone can create instantly with a few strokes of a pen.
My colleague then stated that he didn't want to have this conversation anymore.

The thing about hashrate collapse is that when mining hardware goes offline because it's no longer profitable they don't become useless at all. If you wait long enough eventually somebody planning to do a 51% attack to steal from an exchange will show up to rent them from you. When that happens the only thing exchange can do is require more confirmation, making it take longer and longer for people to be able to sell after sending their BTC there.
But what happens after the first succesfull 51% attack on an exchange? Well everybody sees their transactions reversed. A chain of blocks that was the consensus chain suddenly became orphaned because a longer chain was spread to all the miners.
The miners also lose revenue except for the attacker who now also suddenly mined a whole bunch of BTC.
Lots of self custody holders will pannic and try to send their BTC to exchanges to dump. But now that the attack is over, the boost in hashrate is gonne again. All blocks are full now, and with hashrate dropping it won't take 2 weeks before diffuculty to adjust. It could easily be a month. The fees do make mining more profitable so some hashrate will return.
But the people are dumping because the narrative that Bitcoin has never been 51% attacked is now here.
So more hashrate goes offline, making it take longer before diffuculty adjusts down. Now the 100 confirmations the exchanges require takes twice as long.
Then another succesfull 51% attack as miners just can't say no to the short term profit of renting out their hardware to an idiot that is willing to take a loss on it. That idiots turn out to be a winner that successfully double spends at an exchange.
Some exchanges stop with BTC all together.
Now we are at a 1000 confirmations. People can't get their BTC to exchanges to sell and fees spike so high that 25% of all Bitcoins is now stuck in unspendable utxos. It would cost more sats to make the transaction then they have sats in the utxos.
Because with BTC you don't pay per transaction. You pay for utxo. If you DCA's for years and kept withdrawing your BTC from exchanges and never consilidated you might have a 1000 utxo's so when you try make your first panic tx to an exchange you will be charged 1000x the transaction fees.
Anyway, collapse like this will be slow at first and then suddenly all at once.
It sure as hell won't take 20 years to collapse this way. And the biggest losers are the self custody holders. Now they want to sell, but they can't anymore. They simply can't get their BTC to an exchange anymore. Every time they try the exhanges themselves outbid them because their algo's are making all these consolidation tx because they are getting so many deposits and the entire thing just grinds to a halt.
TLDR; Bitcoin will be dead within 7 years from this point.

Down 60% is nothing. Welcome to crypto. Chug it back into BTC and you will see those returns back

I’m all in once he mentions he buys BTC with AI

If I tell you how much I have lost, you will not feel crushed anymore...Additionally if I tell you how much my colleagues have earned wiht BTC, you will not feel pain anymore for the rest of your life.
Originaly I thought: BTC has no reason to be, no uses (it can't replace official money) it's subject to speculation, it's not regulated and so on.
I need something with real use, whose value will grow because there is real application.
So the result:
the coin without a real use increases value 10000 fold.
The one with real use does not increse value at all.
But that's life: people buy BTC only because someone has effectively spread the news that BTC will go up. And because people buy BTC, BTC goes up. So we have a self sulfilling prediction.
People don't use Altcoins because things already go well without the improvements that altcoins promise. So Altcoins don't find the used they have been designed for.
Don't try to explain human behaviour with logical reasoning. I gave up...
Oh yes: I must be positive, or my comment will be blocked: my positive final statement is: if ADA goes down to 0,02$, I'll buy 1million this time.
😄

I have $100K I could invest into BTC right now, but I'm not doing that, because my basis is $42,000 on my 10% of 1 BTC and my rule of thumb is NEVER buy green, only buy red. So, I gotta be patient and HOPE it goes that low (or lower). Other will be screaming and freaking out... I'll be jumping up and down, squealing like a little school girl! COME ON DOWN, BTC!!!

I don't think so. I think alts and all projects around are like the workers of the economy. And if bitcoin was alone it would never be proved like this, the reason btc is at this value is because of all noise around but no sane person would value it to what's it is today if it were alone. It could absolutely have a asset status as gold but not at this prices. No sane person would buy BTC in front of gold if the price wasn't this hyped.

Eth has underperformed BTC on average its entire lifecycle… stick to the king

If they forced to sell, oof, it is going to be worse than anything we have seen so far, back to 1k for BTC it is then.

Dump all alts (including ETH) and full port BTC. There is no second best, and the rest are called ALT coins for a reason.

Daily volume, mostly and the fact that even daily sells of 80,000 BTC didn't move the price by much.
Why do you think it would be otherwise?

That sounds like a horrible decision all around considering that BTC could easily hit 42k without breaking any historical outliers in terms of bottoming events during bear markets. Not saying we will but capping your upside when we are still above the 200 WMA with ETFs selling like there's no tomorrow sounds risky. I bought a small MSTR position myself and consider it a regarded gamble, would buy more st 70-80 but yeah.. this sounds weird af

GDC currently owns 7501 BTC as of their last earnings report. Considering that with the current stocks issued, GDC is severely undervalued. Considering all the warrants and the potential merger happening, the GDC may profit even higher than ADTX. It’s going to be huge.

Bro I have heard so many specialists trying to predict future. Not one was correct. The 4 year cycle is total bs and can be challenged by a highschool student that has taken a statistics class. If you’ve been on the market for many years this realisation should have happened, especially with the orange man tweeting nonesense and manipulating the markets. BTC is all based on hype, nothing more and nothing less. At the moment AI is the latest hype and it’s actually solving problems, so don’t expect things to change anytime soon.