I find it difficult to believe it has to do with the US regulation of crypto. These movements are made by whales, and were made for decades before regulation was in place. US citizens already have the dollar as a store of wealth so they need bitcoin less. If anything i expect a "sell the news" after this crypto week
Bitcoin passes $120k milestone as US Congress readies for 'crypto week'
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Re: Bitcoin passes $120k milestone as US Congress readies for 'crypto week'
#32I wish people would gamble with something other than a proof-of-work coin. There are very similar alternatives now. When bitcoin rises, more money is spent on mining. Whoever holds bitcoin is in part responsible for this waste of energy.
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Re: Bitcoin passes $120k milestone as US Congress readies for 'crypto week'
#33I sold 100 BTC back in 2015, which cleared all my debts and landed my first apartment. But obviously in hindsight, it was the most expensive mistake I've made in my life. I started following cryptocurrencies back in 2012. Still, for my life, I can't see the real value. Back then, when things were starting out, the idea was to bank the unbanked, make money transfer seamless, cheap, and fast, and basically break up act…
There are very few unbanked people in western countries, and so its natural that it would be unusual to come across those use cases there. There are in fact services that will act as a glue between the bitcoin ecosystem and "fiat", such as bitrefill which allows you to buy gift cards for many different stores using bitcoin. However for most people and every day payments there isn't really a compelling reason to try t…
Are you from Argentina? Crypto is used for the same reasons as in every other country. If someone gets paid their salary in crypto is not because the peso is weak, is simply to be avoid paying taxes for being outside the system.
Re: Bitcoin passes $120k milestone as US Congress readies for 'crypto week'
#34I sold 100 BTC back in 2015, which cleared all my debts and landed my first apartment. But obviously in hindsight, it was the most expensive mistake I've made in my life. I started following cryptocurrencies back in 2012. Still, for my life, I can't see the real value. Back then, when things were starting out, the idea was to bank the unbanked, make money transfer seamless, cheap, and fast, and basically break up act…
There are very few unbanked people in western countries, and so its natural that it would be unusual to come across those use cases there. There are in fact services that will act as a glue between the bitcoin ecosystem and "fiat", such as bitrefill which allows you to buy gift cards for many different stores using bitcoin. However for most people and every day payments there isn't really a compelling reason to try t…
> There certainly have been some countries where stablecoins have gained in popularity. They are a little easier to use than bitcoin and prices are more stable. It tends to be in places where governments are not heavily enforcing against their use, while at the same time the local currency has been unstable, such as in Argentina.
Yes, I think this really is a use case even if it's not one that flatters the prejudices of American bitcoiners. People from non-US countries want access to shadow-dollars, yet the US has built a large and intrusive industry based on keeping them out.
Re: Bitcoin passes $120k milestone as US Congress readies for 'crypto week'
#35I sold 100 BTC back in 2015, which cleared all my debts and landed my first apartment. But obviously in hindsight, it was the most expensive mistake I've made in my life. I started following cryptocurrencies back in 2012. Still, for my life, I can't see the real value. Back then, when things were starting out, the idea was to bank the unbanked, make money transfer seamless, cheap, and fast, and basically break up act…
> But obviously in hindsight, it was the most expensive mistake I've made in my life. It doesn't sound like a mistake to me at all. You paid off debts and invested in something that has delivered value to you for almost 15 years now. A mistake would have been to spend it on blow and hookers.
no a true mistake would have been to delete the hard drive that the wallet was stored on so you wouldn't even had the benefit of paying off anything or buying any hookers and blow.
Re: Bitcoin passes $120k milestone as US Congress readies for 'crypto week'
#36I'm interested in debating these facts: - 2.4 million bitcoins are lost forever [0]. Their owners, for one reason or another, can't access their wallets. No insurance, no guarantees, nothing. - 1.1 million are owned by a mysterious person who sits at the top of the pyramid [0]. - 2.3 million belong to investors and speculators [0] (who, I'm guessing, make money by pumping and dumping). - 1 million are owned by banks…
this fact does not matters since if people valued bitcoin at 120k then bitcoin price would be 120k simple as that
also pump and dump scene exist in stock too, does this stop people trade in stock??? I don't think so
Re: Bitcoin passes $120k milestone as US Congress readies for 'crypto week'
#37I sold 100 BTC back in 2015, which cleared all my debts and landed my first apartment. But obviously in hindsight, it was the most expensive mistake I've made in my life. I started following cryptocurrencies back in 2012. Still, for my life, I can't see the real value. Back then, when things were starting out, the idea was to bank the unbanked, make money transfer seamless, cheap, and fast, and basically break up act…
> "Fast and cheap payments" have been fixed using regular fiat and banking services. I daily transfer and pay for stuff without any charges.
Could it be that bitcoin forced banks to compete?
Re: Bitcoin passes $120k milestone as US Congress readies for 'crypto week'
#38I sold 100 BTC back in 2015, which cleared all my debts and landed my first apartment. But obviously in hindsight, it was the most expensive mistake I've made in my life. I started following cryptocurrencies back in 2012. Still, for my life, I can't see the real value. Back then, when things were starting out, the idea was to bank the unbanked, make money transfer seamless, cheap, and fast, and basically break up act…
> I sold 100 BTC back in 2015, which cleared all my debts and landed my first apartment. I think you should be less proud of that. > I can't see the real value ... Sure, there are some very legit usage of crypto, like: Circumventing sanctions, Laundering money, Scams and transactions of illegal goods Sounds like you understand exactly what the "real value" is: If you buy and sell bitcoin, you're helping people launde…
i totally get this mindset
i think one of the big challenges of the 21st century is coming to terms with the fact that playing by the rules actually makes you poorer...
whereas speculative investment, like bitcoin, has yielded only winners. huge transfer of wealth from the rule-followers to the "but what if it moons..."-crowd and the "yeah i shouldn't do this, but..."-type of people.
this will surely have an evolutionary impact, since the now-wealthy bitcoiners (and others) will no doubt have plenty of reproductive success, thus arming their numerous progeny with a similar risk-taking mindset.
Re: Bitcoin passes $120k milestone as US Congress readies for 'crypto week'
#39I sold 100 BTC back in 2015, which cleared all my debts and landed my first apartment. But obviously in hindsight, it was the most expensive mistake I've made in my life. I started following cryptocurrencies back in 2012. Still, for my life, I can't see the real value. Back then, when things were starting out, the idea was to bank the unbanked, make money transfer seamless, cheap, and fast, and basically break up act…
There are very few unbanked people in western countries, and so its natural that it would be unusual to come across those use cases there. There are in fact services that will act as a glue between the bitcoin ecosystem and "fiat", such as bitrefill which allows you to buy gift cards for many different stores using bitcoin. However for most people and every day payments there isn't really a compelling reason to try t…
> There are very few unbanked people in western countries, and so its natural that it would be unusual to come across those use cases there.
In the US it is 6% of adults [1] overall. It is 23% of adults with family incomes below $25k. It's 14% for Black adults and 11% for Hispanic adults.
[1] https://www.federalreserve.gov/publications/2024-economic-we...
Re: Bitcoin passes $120k milestone as US Congress readies for 'crypto week'
#40I have reason to believe my country's fiat will be inflated in the coming 12 months. Not hyper inflation, but a 50% to 100% increase in consumer prices over the next 12 months. My country is small and not connected to anything American related. Still wondering if it is a good idea to buy more crypto now as a further hedge against my fears. The article makes me think it may be unwise to do so given the massive specula…
by assets. home, gold, treasuries, shares should give you similar protection against inflation as the crypto with much less volatility. less profits as well, but it all depends on your risk profile.