Cryptocurrencies

[james22]

All roads lead to hyperbitcoinization.

[SharperDingaan]

33 minutes ago, Xerxes said:

I am glad Saylor is doing well .. but really the idea of BTC reserve bank, BTC president etc is complete reverse to what Bitcoin suppose to be. 
 

maybe time to change Bitcoin narrative 

 

It's the same thesis, it's just integration into main stream finance that's evolving. MSTR as guarantor (central bank) of direct BTC loans (borrow and repay in BTC), lending at maybe 20:1 ... looking like a CB but not actually being one. Over time; MSTR either loses the niche to industry as BTC becomes just another kind of loan, or is replaced by the US Fed Reserve under updated legislation (populating the vault with the silk road seizure &/or acquisition).

 

Fed Reserve USD devaluation, offset against the BTC vault revaluation in USD. New type of US T-Bills secured against the BTC loan book, and BTC options and derivatives more securely tied into the Fed Reserve via the CME. Elegant.

 

SD

[TwoCitiesCapital]

4 hours ago, Xerxes said:

I am glad Saylor is doing well .. but really the idea of BTC reserve bank, BTC president etc is complete reverse to what Bitcoin suppose to be. 
 

maybe time to change Bitcoin narrative 

 

Especially a president who is a debt guy responsible for many of his own personally bankruptcies who spent like a drunken sailor last time he was in office. But yes - a "Bitcoin" President indeed

 

3 hours ago, james22 said:

All roads lead to hyperbitcoinization. 

 

Exactly. Doesn't matter who is president and Trump is likely not any better, or worse, than Kamala in this regard. 

[rkbabang]

1 hour ago, TwoCitiesCapital said:

4 hours ago, james22 said:

All roads lead to hyperbitcoinization. 

 

Exactly. Doesn't matter who is president and Trump is likely not any better, or worse, than Kamala in this regard. 

 

 

He's not likely any better or worse from the USD point of view, and he's not going to effect Bitcoin itself long term.  But he can stop the attacks on US citizens who own bitcoin which the Elizabeth Warren's of the world would like to engage in.  Bitcoin doesn't need him or anyone else, but I am not Bitcoin, I am a US citizen who owns it.  And since my Bitcoin is KYC bitcoin bought from Coinbase, the US government knows I own it.  I am in less danger now than I otherwise would have been.

[TwoCitiesCapital]

35 minutes ago, rkbabang said:

 

 

He's not likely any better or worse from the USD point of view, and he's not going to effect Bitcoin itself long term.  But he can stop the attacks on US citizens who own bitcoin which the Elizabeth Warren's of the world would like to engage in.  Bitcoin doesn't need him or anyone else, but I am not Bitcoin, I am a US citizen who owns it.  And since my Bitcoin is KYC bitcoin bought from Coinbase, the US government knows I own it.  I am in less danger now than I otherwise would have been.

 

All we've done is trade one "danger" for another. And the one danger that we're 'avoiding' was largely already solved via self custody.

 

So we went from remote 'danger' that is already well managed to other dangers that are not. 

 

 

[rkbabang]

41 minutes ago, TwoCitiesCapital said:

 

All we've done is trade one "danger" for another. And the one danger that we're 'avoiding' was largely already solved via self custody.

 

So we went from remote 'danger' that is already well managed to other dangers that are not. 

 

 

 

What exactly is the threat you think you see?   He spends a lot and devalues the $?   That's a given, regardless of who would have won this election.  What do you think he'll do that threatens either you or me personally or Bitcoin itself?   I don't see it.

 

[TwoCitiesCapital]

53 minutes ago, rkbabang said:

 

What exactly is the threat you think you see?   He spends a lot and devalues the $?   That's a given, regardless of who would have won this election.  What do you think he'll do that threatens either you or me personally or Bitcoin itself?   I don't see it.

 

 

Threats outside of Bitcoin. Threats to democratic institutions like independent media, independent courts, etc.

 

Everyone likes to pretend that left leaning media is biased against the Trump and tells lies, but it was Fox news paying the largest settlement ever for peddling known lies in favor of clicks and eye balls. 

 

Everyone wants to talk about how the courts are biased against Trump while conveniently ignoring those same courts convicted Biden's son and Biden has this far not abused his power to prevent it. 

 

Today, we still have independent institutions that support and protect the democratic processes we have on both sides of the aisle. Trump made them enemy #1 the last time around. I don't expect it'll be different this time around and the effects of that will far outlive his presidency 

Edited November 6 by TwoCitiesCapital

[james22]

4 hours ago, TwoCitiesCapital said:

 

Especially a president who is a debt guy responsible for many of his own personally bankruptcies who spent like a drunken sailor last time he was in office. But yes - a "Bitcoin" President indeed

 

 

Exactly. Doesn't matter who is president and Trump is likely not any better, or worse, than Kamala in this regard. 

 

I think that he's surrounded by enough people who really understand this. You know, people like Bitcoin magazine CEO David Bailey [and] many others who have really spent the time with him. And one of the interesting things is whether he believes in Bitcoin or not is almost a moot point.

 

 

[james22]

32 minutes ago, TwoCitiesCapital said:

Threats to democratic institutions like independent media, independent courts, etc. 

 

Let's revisit this in four years.

[TwoCitiesCapital]

9 minutes ago, james22 said:

 

I think that he's surrounded by enough people who really understand this. You know, people like Bitcoin magazine CEO David Bailey [and] many others who have really spent the time with him. And one of the interesting things is whether he believes in Bitcoin or not is almost a moot point.

 

 

 

Last time he was president, most of the people surrounding him were very decorated too. And a ton ended up in prison and very little was accomplished. Keep dreaming though. 

Edited November 6 by TwoCitiesCapital

[SharperDingaan]

The real threat is a 'supra' CBDC using a version of BTC protocol, that displaces USD as the global reserve currency.

 

USD devalues rapidly, trade partners competitively devalue; no real short-term change, but the price of BTC (in local fiat) rises as the currencies devalue. Inflation ticks up for everyone, raising hard asset values (real-estate), and market yields (real + inflation). Fed Reserve offers a BTC backed (inflation immune) USD trade currency as the global reserve currency ...  that is also protected by the 'might' of the US/NATO.  Awesome! 

 

Or .... most of the worlds trade blocks, supported by their CB's, collectively agree to denominate and settle their trade in 'supra' CBDC. Also inflation resistant, but reliant on collective management, vs that of a single entity (US) to manage it. Also awesome! ... but not so much for the US.

 

SD      

Edited November 7 by SharperDingaan

[TwoCitiesCapital]

5 minutes ago, SharperDingaan said:

The real threat is a 'supra' CBDC using a version of BTC protocol, that displaces USD as the global reserve currency.

 

USD devalues rapidly, trade partners competitively devalue; no real short-term change, but the price of BTC (in local fiat) rises as the currencies devalue. Inflation ticks up for everyone, raising hard asset values (real-estate), and market yields (real + inflation). Fed Reserve offers a BTC backed (inflation immune) USD trade currency as the global reserve currency ...  that is also protected by the 'might' of the US/NATO.  Awesome! 

 

Or .... most of the worlds trade blocks, supported by their CB's, collectively agree to denominate and settle their trade in 'supra' CBDC. Also inflation inflation, but reliant on collective management, vs that of a single entity (US) to manage it. Also awesome! ... but not so much for the US.

 

SD      

 

I'm gonna say there is a reason the other BTC hard forks and Dogecoin haven't been able to keep up with BTC despite using similar protocols and rules. Characteristics matter and a government CBDC that fails to be hard money is no different. 

 

The longest chain is the truest. 

Edited November 7 by TwoCitiesCapital

[james22]

 

[rkbabang]

 

4 hours ago, james22 said:

  5 hours ago, TwoCitiesCapital said:

Threats to democratic institutions like independent media, independent courts, etc. 

4 hours ago, james22 said:

 

Let's revisit this in four years.

 

+1

I couldn't disagree with TwoCitiesCapital more, but we'll see.  No one is going to convince anyone here.  If there is no specific threat to crypto in general or Bitcoin in particular then this probably isn't the place to talk about it.  These generalized threats, if they were real, would effect everything.

[james22]

 

[james22]

 

[james22]

 

[Blake Hampton]

Bitcoin is the new oil lol

[Vish_ram]

3 hours ago, Blake Hampton said:

Bitcoin is the new oil lol

It is wheel, fire, oil, steam & IC engine, electronics, internet, AI, innovation, human ingenuity, US constitution, free trade, low taxes, Guns & God, Hope combined. 

Edited November 7 by Vish_ram

[rkbabang]

1 hour ago, Vish_ram said:

It is wheel, fire, oil, steam & IC engine, electronics, internet, AI, innovation, human ingenuity, US constitution, free trade, low taxes, Guns & God, Hope combined. 

 

You forgot the printing press and sliced bread, but yeah.

[TwoCitiesCapital]

3 hours ago, rkbabang said:

 

You forgot the printing press and sliced bread, but yeah.

 

 

Can't we all just agree that it is hard money and that is important and valuable enough without needing these weird abstractions that serve to confuse and alienate newbies? 

 

The new oil? No. The new money. Yes. 

Edited November 8 by TwoCitiesCapital

[james22]

Josh Brown attended a watch party at the NYSE:

 

The headlines are all going to be positive for Bitcoin from here on out because somebody has gotten it into Trump's head that Bitcoin might be instrumental in paying off the national debt.

 

Some of the things that I was listening to last night . . . there's a genuine belief that this Administration is going to buy a million Bitcoin. We take the United States Holdings in Bitcoin currently at 200,000 because of the Silk Road confiscation and the idea is if we go from 200,000 to a million Bitcoin and Bitcoin can just get to $36 million per coin we wipe out the entire national debt.

 

In that scenario Michael Saylor becomes the wealthiest person in the world and Microstrategy goes to $10,000 per share.

 

This is something somebody shared with me last night with a very, very, very straight face. And this person is is hearing this from people that are in the administration. So Bitcoin could become a reserve asset just like gold. It could become so mainstream that the United States government is like borrowing against it and accumulating it and doing all these things.

 

I have no idea if any of this is feasible. I just I think that you guys should hear this from me. You are going to be hearing these theories and ideas from Elon, from Trump, from whoever the hell he picks as his treasury secretary. This is now going to become mainstream thinking amongst Republicans. Republicans who are very much in power.

 

What do they do when it falls 40% in a month like it does? Keep buying. Then it can't fall. See this is the way they're thinking. I'm not saying I I agree with this. If they say we're going to accumulate up to a million, just the act of saying it's going up: it's going up.

 

Who is selling it? Like honestly, who would? It would almost be financial malpractice if you tell somebody that you're managing money for to sell their Bitcoin if you know the government has now decided they want to build a strategic Bitcoin Reserve.

 

So that's what I'm now hearing.

 

From 21:35

 

 

Edited November 8 by james22

[Dave86ch]

9 hours ago, TwoCitiesCapital said:

 

 

Can't we all just agree that it is hard money and that is important and valuable enough without needing these weird abstractions that serve to confuse and alienate newbies? 

 

The new oil? No. The new money. Yes. 

 

It's actually a fitting metaphor.

I also came up with it almost two years ago.

 

 

 

Edited November 8 by Dave86ch

[james22]

The Bitcoin President is here

 

This past July I talked about the consequences of a second Trump presidency from the standpoint of digital assets. I referred to Donald Trump as “The Bitcoin President” and everything we’ve seen so far bears that out.

 

The talk I heard at the New York Stock Exchange on election night this week centered around the idea that this administration was likely to create a Bitcoin Strategic Reserve of up to one million BTC - the federal government already controls 210,000 BTC stemming from the Silk Road bust and several other scams that have since been prosecuted. If any of this talk turns out to be true, there is a now a more substantial tailwind for the price of Bitcoin and related assets than ever before. What do you think sovereign treasuries and central banks do in response to the US government stockpiling BTC? You think they just sit there watching?

 

The Republican sweep owes a lot to the crypto lobby and Donald Trump is now surrounded by people who are very much in favor of the continued mainstreaming of the asset - Peter Thiel and Vivek Ramaswamy and Elon Musk and thousands of other large donors and supporters. I wouldn’t sell if I were you. This week BTC made a new all-time record high in US dollar terms and that’s before any of these people’s grandiose plans have been implemented.

 

Here’s BTC, Coinbase and MicroStrategy, which can best be viewed as a leveraged play on the price of the coins, over the last month:

 

 

If Wall Street believes that the government is about to become an accumulator of this asset, it’s tough to imagine anyone wanting to cash out anytime soon.

 

https://www.downtownjoshbrown.com/p/elections-have-consequences

[james22]

From 1:09