Trump associated currencies crashing.
Bitcoin Looks Set for Longest Monthly Losing Streak Since 2018
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Re: Bitcoin Looks Set for Longest Monthly Losing Streak Since 2018
#12Somewhere in Paris, a phone laying on a glass table started vibrating and was picked up by a mysterious person who answered, with a thick French accent: "Yes?".
In all seriousness to me this is still within the bounds of "a Tuesday" in the BTC space. Stranger things have happened many times already.
Re: Bitcoin Looks Set for Longest Monthly Losing Streak Since 2018
#13And it will continue.
Bitcoin treasury companies [0] have equity values lower then their Bitcoin holdings, so it is the financially correct move to sell BTC at market price and use the proceeds to buy back their stock at the market price.
This will lead to additional downward pressure on BTC.
Re: Bitcoin Looks Set for Longest Monthly Losing Streak Since 2018
#14Re: Bitcoin Looks Set for Longest Monthly Losing Streak Since 2018
#15Perfect time to buy
As far as I can tell, bitcoin, having no intrinsic value, is priced entirely by vibes. Right now the vibes are generally negative. The latest bubble of interest has faded. I would wait, the world could become interested again but it may be 2 or 3 years. The bottom will probably be around 70k.
What if all these AI companies, are going to mint coins with their idle GPUs, wouldn't that lower value of these coins massively ?
It's not as good as an ASIC, but we talk about millions of GPUs
Re: Bitcoin Looks Set for Longest Monthly Losing Streak Since 2018
#16Perfect time to buy
As far as I can tell, bitcoin, having no intrinsic value, is priced entirely by vibes. Right now the vibes are generally negative. The latest bubble of interest has faded. I would wait, the world could become interested again but it may be 2 or 3 years. The bottom will probably be around 70k.
The trouble with vibe-based pricing is it’s really hard to time the vibes. And hard to time the vibe dip.
Re: Bitcoin Looks Set for Longest Monthly Losing Streak Since 2018
#17Vibes guy here. I dabbled in Bitcoin for about a year, on the notion that if the world's overall financial system got degraded, more people would view Bitcoin holdings as a safe way to preserve value. Maybe better than owning physical gold. Why not get in early before the next stampede?
But I was wrong about bitcoin > gold. It's worked the other way around. There's also persistent chatter that the supposedly uncrackable Bitcoin private keys might someday be crackable with quantum computing. Preposterous? Maybe. Maybe not. There's a mind-blowing amount of compute coming into the world, and not all of it's going to be used to create goofy memes or robo-PowerPoints. Call me timid, but I cashed out with modest Bitcoin profits last year and am fine watching the show from the sidelines from here on.
Re: Bitcoin Looks Set for Longest Monthly Losing Streak Since 2018
#18And it will continue. Bitcoin treasury companies [0] have equity values lower then their Bitcoin holdings, so it is the financially correct move to sell BTC at market price and use the proceeds to buy back their stock at the market price. This will lead to additional downward pressure on BTC. [0] https://bitbo.io/treasuries/
How long does it have to drop for it to never recover?
Re: Bitcoin Looks Set for Longest Monthly Losing Streak Since 2018
#19Earlier quoted context omitted.
As far as I can tell, bitcoin, having no intrinsic value, is priced entirely by vibes. Right now the vibes are generally negative. The latest bubble of interest has faded. I would wait, the world could become interested again but it may be 2 or 3 years. The bottom will probably be around 70k.
What if all these AI companies, are going to mint coins with their idle GPUs, wouldn't that lower value of these coins massively ? It's not as good as an ASIC, but we talk about millions of GPUs
Bitcoin mining on GPUs is generally unprofitable due to the price of electricity.
Re: Bitcoin Looks Set for Longest Monthly Losing Streak Since 2018
#20And it will continue. Bitcoin treasury companies [0] have equity values lower then their Bitcoin holdings, so it is the financially correct move to sell BTC at market price and use the proceeds to buy back their stock at the market price. This will lead to additional downward pressure on BTC. [0] https://bitbo.io/treasuries/
How long does it have to drop for it to never recover?
I think I read 11,000 is when Saylor is completely broken, again.