What's the best way to sell ~50 BTC these days?
There's enough liquidity on CEXs. But if you're really concerned you can reach out to their OTC desks.
Bitcoin has made a new all-time high price
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Re: Bitcoin has made a new all-time high price
#42So I suppose people must use it all the time to buy goods and services. Right?
No, but people are feeling sketchy about keeping their wealth in USD
Re: Bitcoin has made a new all-time high price
#43Soon this will all collapse, reaching all time highs isn't a good thing. Pyramid scheme at best, ponzi scheme at worst. I still don't know any use case for this other than speculation and people aren't even using it in the real world.
If Tether is still there after all these years, BTC isn't going anywhere, and I used to be pretty skeptical of crypto currencies.
Re: Bitcoin has made a new all-time high price
#44So I suppose people must use it all the time to buy goods and services. Right?
this isn't why people buy Bitcoin. they buy it b/c they don't have confidence in the power of the US dollar or want to hedge their bets. It's the equivalent of gold, that is people turn to it when they think shit may hit the fan but it doesn't have the downsides of physically holding gold.
Except that Bitcoin isn't long term sustainable due to its security budget crisis that will rear its head in ~8-10 years.
Re: Bitcoin has made a new all-time high price
#45So I suppose people must use it all the time to buy goods and services. Right?
I know you are being snarky, but i think its worth pointing out that ever increasing prices is bad for a medium of exchange not good. The higher prices decreases the liklihood of it being used like a currency.
Re: Bitcoin has made a new all-time high price
#46So I suppose people must use it all the time to buy goods and services. Right?
this isn't why people buy Bitcoin. they buy it b/c they don't have confidence in the power of the US dollar or want to hedge their bets. It's the equivalent of gold, that is people turn to it when they think shit may hit the fan but it doesn't have the downsides of physically holding gold.
> don't have confidence in the power of the US dollar
Whenever the US stock market slumps, doesn't Bitcoins price usually slump too in almost perfect lockstep?
Re: Bitcoin has made a new all-time high price
#47Earlier quoted context omitted.
I don't know. What's going to happen with Tether?
It's backed on air. Not even hot air.
So I should not believe attestations by third parties because they are all lies then? https://tether.to/en/transparency/?tab=reports
I guess that would be not much different than Moody's lying about debt ratings prior to 2008.
Re: Bitcoin has made a new all-time high price
#48What's the best way to sell ~50 BTC these days?
Place it as a sell order on the trading book, above the current price. That way you are a market maker, and pay no fees.
50BTC is small potatoes, you aren't going to move the market.
Re: Bitcoin has made a new all-time high price
#49It has in dollar terms but it still hasn't on an inflation adjusted basis. One bitcoin today has less purchasing power than at its peak in November 2021. The dollar has lost about 12.5% since then so the true all time high would be around $79250.
Re: Bitcoin has made a new all-time high price
#50Earlier quoted context omitted.
I thought Bitcoin and crypto is just fools gold, why get involved with blockchains and worst of all, proof of work?
I did not downvote you, but I want to respond to your question instead of taking the approach of weaponizing hn votes to simply suppress perspectives I disagree with, and I'd encourage my pro-crypto friends to do the same. We have to treat dissenters and critics with the same open-minded, good-faith, respectful dialogue we want them to offer us. I don't mean to suggest I'm not a biased partisan, but I will be a good-…
(I use bitcoin and crypto pretty interchangeably)
> Bitcoin is a truly decentralized, voluntarist system
Doesn’t 1 pool account for more than 50% of the bitcoin netwoek?
It’s theoretically decentralized, but in truth, you can only meaningfully contribute to the network (and have a real chance of mining a block) if you are already wealthy enough to buy the hardware.
The issue, imo, with your stance is that it’s all rose tinted theory.
In theory, bitcoin is a decentralized store of value. In reality it’s just another thing, akin to a collectible, that is bought and sold. Its value is based on what people are willing to pay, not based on what you can do with a bitcoin.
In theory, bitcoin is government proof, in reality governments all over the world place restrictions on trading crypto. It’s so difficult to trade bitcoin for fiat without going through some kind of bank, that governments still have enough control as to make the “government proof” argument moot.
Just look at the price of monero after being delisted from Coinbase in anticipation of US regulation.
At worst, bitcoin (and crypto) is a greater fools game. You gain bitcoin with the only utility being that its price swings so much that you can sell it for a profit.
At best, it’s just another payment system owned by very wealthy people. (Like ethereum)
There’s a lot of theoretical benefits to decentralized currencies and governance free economies, but crypto (at least the cryptocurrencies we have today) embodies none of that and practically is a vehicle for gaming and scamming, as we’ve seen.