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01-24-2022 , 10:41 PM
Probably because more than 90% of trading is made by algorithms and bots, buying/selling any news, so every information is incorporated quickly across all markets.

Crypto is a way more efficient market today than a couple of years ago, ask SBF....
01-24-2022 , 10:55 PM
Quote:
Originally Posted by Cckid Bitcoins - digital currency
Iíve been following various BTC threads, outlets, etc for some time now. Had a question that has continued perplexing my mind.

Iíve heard people say that Sovereigns and/or Countries are and have been getting in on the BTC bandwagon. Or that BTC adoption is just a matter of time for the above.

If this is true whether it be publicly or privately taking place and seeing how BTC has a limited supply. Why wouldnít say the biggest and wealthiest countries just buy up all the remaining supply of BTC from the exchanges?

Which in turn would give them a strong position in a supposedly decentralized product?

They obviously have the fiat to make this happen whether working together or individually.

If BTC is such a game changer why isnít this happening and why is there even a supply available on the exchanges?


Thoughts appreciatedÖ..
- Apple has $200 billion in cash on it's balance sheet.
- 24% of the 18,939,187 circulating BTC supply is considered "liquid" meaning it has moved on-chain within the last 5 months.
- 24% of 18,939,187 is 4,545,405 BTC. At a current price of $36,235 per BTC, Apple has more cash than the entire market value of liquid BTC ($164,702,000,000).

Do you think Apple can simply place a market order on Coinbase for $164 billion worth of BTC? What do you think would happen to the price after the first billion or so was purchased? Do you remember what happened after Tesla announced they purchased $1.5 billion of BTC on Feb. 8, 2021?


01-25-2022 , 12:40 AM
Quote:
Originally Posted by johnnyBuz Bitcoins - digital currency
Do you think Apple can simply place a market order on Coinbase for $164 billion worth of BTC? What do you think would happen to the price after the first billion or so was purchased? Do you remember what happened after Tesla announced they purchased $1.5 billion of BTC on Feb. 8, 2021?
Dunno if accurate, but ya all these big buys are OTC. Not exchange order book bids.

01-25-2022 , 01:22 AM
I'd guess Bitcoin has roughly a 94% chance of hitting 30k before 100k. It is at $36k right now.
01-25-2022 , 01:31 AM
Quote:
Originally Posted by housenuts Bitcoins - digital currency
Dunno if accurate, but ya all these big buys are OTC. Not exchange order book bids.

Right. Point was you can't just buy 4,500,000 BTC without affecting the price regardless if you are transacting on an exchange or OTC. OTC wouldn't even have access to anything close to that amount -- generally in the 10-20k BTC range.
01-25-2022 , 01:50 AM
Quote:
Originally Posted by johnnyBuz Bitcoins - digital currency
-
- 24% of 18,939,187 is 4,545,405 BTC. At a current price of $36,235 per BTC, Apple has more cash than the entire market value of liquid BTC ($164,702,000,000).




So why is there roughly 4.5 million BTC still available to trade or purchase and hold. Because if BTC is such a potential game changer why doesnít the available supply get bought up immediately as it becomes available?

Perhaps a similar example would be a few years ago if you logged onto JM Bullion or APMEX to buy gold most of the products said not available/sold out. Why doesnít this happen for BTC?
01-25-2022 , 05:01 AM
Quote:
Originally Posted by Cckid Bitcoins - digital currency
So why is there roughly 4.5 million BTC still available to trade or purchase and hold. Because if BTC is such a potential game changer why doesnít the available supply get bought up immediately as it becomes available?

Perhaps a similar example would be a few years ago if you logged onto JM Bullion or APMEX to buy gold most of the products said not available/sold out. Why doesnít this happen for BTC?
So then the price of gold was infinite? How come it isn't infinite now?
01-26-2022 , 11:09 AM
Quote:
Originally Posted by Cckid Bitcoins - digital currency
If BTC is such a game changer why isnít this happening and why is there even a supply available on the exchanges? Thoughts appreciatedÖ..
Others have made a lot of good points as to why, but this is also the reason for the crypto mantra of "we are still early". If you believe in BTC, the answer to this question is basically "when enough people realize it, there won't be any supply, but it just hasn't reached that stage yet."

To use an analogy, I think a lot of BTC maxis now are seeing it like settling the west; when North America was settled, it was cheap and easy to get massive amounts of land in the west if you were willing to take the chance. In many cases, that decision paid off with generational wealth for those who took it. Others got dysentery and died on the Oregon trail. No free lunches.
01-26-2022 , 12:27 PM
I certainly don't want dysentery.
01-26-2022 , 01:15 PM
Solid analogy, in a sea of squishy analogies.
01-26-2022 , 02:49 PM
Don't want to end up stuck in Oklahoma for the rest of your life either.
01-26-2022 , 06:26 PM
01-26-2022 , 07:10 PM
Quote:
Originally Posted by marknfw Bitcoins - digital currency
Don't want to end up stuck in Oklahoma for the rest of your life either.
Just trying to enjoy a banana and we out here catching strays!
Yesterday , 03:33 AM
Quote:
Originally Posted by Bluegrassplayer Bitcoins - digital currency
I'm sure it's nothing.

This just got me to finally download a lightning wallet too.
Yesterday , 04:01 PM
It's fine that Bitcoin isn't good for transactions, as long I can shoot squirrels to get food.
Yesterday , 08:41 PM
Quote:
Originally Posted by Punker Bitcoins - digital currency
Others have made a lot of good points as to why, but this is also the reason for the crypto mantra of "we are still early". If you believe in BTC, the answer to this question is basically "when enough people realize it, there won't be any supply, but it just hasn't reached that stage yet."

To use an analogy, I think a lot of BTC maxis now are seeing it like settling the west; when North America was settled, it was cheap and easy to get massive amounts of land in the west if you were willing to take the chance. In many cases, that decision paid off with generational wealth for those who took it. Others got dysentery and died on the Oregon trail. No free lunches.
Thatís a fair enough response. But still doesnít fully satisfy my mind for a definitive answer to my question that I have personally. Maybe Iím searching for a specific answer that doesnít exist.

To expand on your reply regarding the masses donít know about BTC once they do I would imagine the entry price for 99% of people will be out of reach for them with only the early adopters and wealthy participating in BTC. Which seems to be against part of what BTC stands to correct to a certain aspect.

But such is life.
Yesterday , 09:20 PM
Quote:
Originally Posted by Cckid Bitcoins - digital currency
Thatís a fair enough response. But still doesnít fully satisfy my mind for a definitive answer to my question that I have personally. Maybe Iím searching for a specific answer that doesnít exist.

To expand on your reply regarding the masses donít know about BTC once they do I would imagine the entry price for 99% of people will be out of reach for them with only the early adopters and wealthy participating in BTC. Which seems to be against part of what BTC stands to correct to a certain aspect.
What does this even mean? There's 8 billion people on earth. There's 21 million Bitcoin (and 4 million are lost or Satoshi's burned stash). You only need 0.002125 BTC to have your "fair share" which is $79 at the current price of $37,000.

It's not that people aren't aware of the existence of BTC, it's they just don't know or understand yet why they would need it. But adoption has been growing at a fairly constant 90%+ since inception. The early adopters had to endure the biggest risks so it's only natural they will see the biggest rewards.
Yesterday , 10:22 PM
Quote:
Originally Posted by johnnyBuz Bitcoins - digital currency
What does this even mean? There's 8 billion people on earth. There's 21 million Bitcoin (and 4 million are lost or Satoshi's burned stash). You only need 0.002125 BTC to have your "fair share" which is $79 at the current price of $37,000.

It's not that people aren't aware of the existence of BTC, it's they just don't know or understand yet why they would need it. But adoption has been growing at a fairly constant 90%+ since inception. The early adopters had to endure the biggest risks so it's only natural they will see the biggest rewards.
Well out of 8 billion people only maybe 1 or 2 billion or so will partake in actual BTC ownership and even those people who do will be in at different entry points obviously. Which drives up their individual entry point based on when they get it in. At which point it could be too late for the average person financially speaking.

Which leads back to my original question why doesnít the supply dry up based on the ďscarcity ď factor alone.
Yesterday , 10:49 PM
Quote:
Originally Posted by Cckid Bitcoins - digital currency
Which drives up their individual entry point based on when they get it in. At which point it could be too late for the average person financially speaking.
You don't have to buy "a bitcoin". If bitcoin is successful and sees widespread adoption, people will just convert at the current price for whatever faction they need and go about their lives.
Today , 12:30 AM
Quote:
Originally Posted by Cckid Bitcoins - digital currency
Well out of 8 billion people only maybe 1 or 2 billion or so will partake in actual BTC ownership and even those people who do will be in at different entry points obviously. Which drives up their individual entry point based on when they get it in. At which point it could be too late for the average person financially speaking.



Which leads back to my original question why doesnít the supply dry up based on the ďscarcity ď factor alone.
You, and the vast majority of the world, I'm sure, don't understand what exactly it is if it's viewed as expensive.

Would it be a pain to move the decimal over 8 places and sell mass sats to the masses?

The crumbs in my coinbase account are right now worth 55 cents. And that is 1,488 sats! Now those are something anyone can invest in.

Amusingly, at ATH those 1,488 sats were worth $1, so I have an easy barometer to measure the current price against.
Today , 01:15 AM
Any thoughts on the trezor news?
Today , 01:17 AM
Quote:
Originally Posted by hansmolman Bitcoins - digital currency
Any thoughts on the trezor news?
Hadn't heard it!
Today , 01:23 AM
Today , 01:24 AM
Quote:
Originally Posted by Cckid Bitcoins - digital currency
Well out of 8 billion people only maybe 1 or 2 billion or so will partake in actual BTC ownership and even those people who do will be in at different entry points obviously. Which drives up their individual entry point based on when they get it in. At which point it could be too late for the average person financially speaking.

Which leads back to my original question why doesn’t the supply dry up based on the “scarcity “ factor alone.
Why do you think adoption will magically stop at 1 billion when it's been growing >90% since inception? There's roughly 150 million BTC holders at this point. 1 billion should be reached by the end of 2024.

You think adoption will just cease at that point? Did adoption for any technology that ever reached >10% global adoption ever just stop at that point? Did the PC, internet/broadband or mobile magically stop at 10% global adoption?
Today , 03:33 AM
Quote:
Originally Posted by hansmolman Bitcoins - digital currency
Any thoughts on the trezor news?
My first thought was hansmolman should be getting a new hardware wallet

      
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