Fly

Enjoy it! I miss the days of chasing the perfect $100 hamburger.

That's the problem. You can get guaranteed (or as close to guaranteed as possible) schedules, but you need to pay for a private jet. Everyone wants it and are willing to pay the same as if they were filling the gas tank in their SUV.

Don't worry, we've moved onto the next boss which is "Bitcoin is bad for the earth."

BTC is fungible, divisible, portable. You can send it anywhere in the world 24/7/365 without trusting any intermediaries. Try that with art, stocks, fiat, gold, etc. Think beyond the asset and think about the value of bitcoin as a payment rail.

Check Barnbridge out, they have some pretty interesting products: https://barnbridge.com

Assuming miners sell all that they mine...

Nailed it. ETH price increases makes transacting on chain more expensive which is a problem considering the main use case is interactions with smart contracts. It is a utility token that is also trying to be a store of value. At least with BTC the "killer app" is buy and hold forever which doesn't incur frequent transaction costs.

Transaction throughput on bitcoin Layer 1 is on par with FedWire. Layer 2 solutions like the Lightning Network are akin to Visa/Mastercard with capability for millions of TPS. The infrastructure is there for currency-like transactions. Developed nations won't be adopting bitcoin as a currency since we already have access to banking and financial infrastructure. It will start in places lacking those benefits like S.America, Africa, parts of Asia. The other reason we won't see it as a currency in developed nations is due to the tax regulations. It is a pain to calculate cap gains/losses for buying a cup of coffee.

Agree 100%, that's why I included the 2nd picture. Bitcoin would have gone to zero by now if it was just a bubble.

Classic Tulips: But....wtf???

I was born ready Agreed. ETH has some nifty tricks but it is not in the same category as BTC. Ultimately, I think we will see BTC Layer 2 or 3 solutions dominate altcoins. We're already seeing it with stuff like Strike/LN making high-TPS transactional altcoins irrelevant. I guess all adoption is good? This is a puzzler to me. I'd rather see increases in low/no fee BTC ATMs like this: https://www.nasdaq.com/articles/k1-the-first-bitcoin-atm-designed-and-built-in-el-salvador-2021-08-26 Lastly, thoughts on Twitter adding Bitcoin LN integration for tipping?

Same as it ever was...

Volvo S60

Another reason that I'm becoming more and more of a BTC maxi. Yes, ETH will always be here and I do think it has some great capabilities/use cases, but 90% of current platform traffic is pure shit.

Hacker returned a portion of it. He/she made some mistakes and their identity is known. They will likely see some jail time.

It will be interesting to watch for another Bitfinex premium to develop like we have seen in past years whenever there was Tether trouble: https://news.bitcoin.com/crypto-community-monitors-bitfinex-wallets-and-the-strange-6-btc-premium/ Or is it being arbitraged away now by Alameda and other big players. Binance is another one to watch. Their BTCUSD and USDT pairings are starting to wander from the rest of the pack. With all of the regulators around the world shutting down their operations we could see a gray swan of sorts.

Add Panama to the list:

I thought this was an interesting take and would be curious if anyone thinks this is really feasible, or just hopium:

Coinbase, Kraken, Gemini are the big 3 in the US. Also look into BlockFi as a way to buy stable coins and produce some yield in one spot. Currently 8.6% APR: https://blockfi.com/rates/

In other news, looks like Bitcoin mining power is physically leaving China. Short term bearish long term bullish. Look for some forced selling this week and capitulation.

1- Crypto is still such a young asset class and Bitcoin is the flagship product. Bitcoin has name recognition as well as a relatively simple narrative (digital gold) that few other coins have challenged. Without Bitcoin the rest of the list would wither and die. 2- Dogecoin shows the power of social media and the collective stupidity of social media. Elon Musk knows his audience and pumps the Doge themes to gain internet clout. His tweets on Bitcoin had similar effects on price.

The Weekend Dump has been a thing for a long time. I'd love to see some data to backtest the "Sell on Thursday and go away" theory.

Don't you think we are beyond the point of "killing" crypto? It is going mainstream and held by wealthy as well as retailers. How would the government successfully kill it? Shut down the internet? Heavy regulation and targeted higher taxes maybe? But would the wealthy find a way to offshore their assets to more friendly jurisdictions?

Doge is a reflection of retail joining the frenzy. I'd say we're in the 6th inning of the game. Same with stuff like Shib and the other animal/food meme coins. There is certainly money to be made on these, but they are fickle and a pure hype trade with little unique underlying technical aspects. Some have fun tokenomics like burning coin supply for each transaction and things of that sort, but they do not have large networks of miners/nodes/developers to challenge the security and "hardness" of BTC.

It is not that different technically speaking, but it has a wide audience of twitter/YouTube/social media followers who talk about it. It is also very "cheap" in terms of price per coin, which I suppose has a psychological attraction vs buying a tiny fraction of a Bitcoin. "I bought 1,000 Dogecoins!" sounds better than "I bought .00464 Bitcoin!"