Bitcoin On Air: September 2023

Saturday, 30 September 2023

German news report on the environmental benefits of Bitcoin mining

https://bit.ly/3LIBeCf via /r/Bitcoin https://bit.ly/3LKr3Nv

Realistically, How long would it take for a $35k a year blue collar to go from a zero-coiner to a respected whole-coiner?

Has anyone been through this journey?🐝 🐝 🐝 How long does it take? And what sacrifice do you have to make? via /r/Bitcoin https://bit.ly/3PBFuVe

Fingers crossed for Bitcoin to moon in its historically bullish quarter 🚀📈 (check out the chart)

https://bit.ly/46wwMP6

Submitted September 30, 2023 at 04:51PM by cryptominerbros https://bit.ly/3tdOSa3

I've been to a Maxisimalist Bitcoin Reunion and I've been very disappointed

They know about bitcoin , about your life too. So Basically I've noticed that they know everything in life. They are willing to tell you how you have to live and what's to believe or not that for them is just mathematics they don't reallj know. I'm bitcoin enthusiast, no crypto bro , but hey, they made me think i don't want to be like them. Very very toxic environment for me.Thanks but not thanksEdit: I've also done a video which I was paying with LN in my place, and people start to offend everything was appering in the video instead of acting like normal and just swap or leave it alone. Just one guy has been nice. So not really nice experience till now. I'm not sure I'm taking this again. via /r/Bitcoin https://bit.ly/3RGMu66

The Incas were bitcoiners

https://bit.ly/46ykIMX

Submitted September 30, 2023 at 07:45PM by BitCypher84 https://bit.ly/3PXcO9B

U.S. dollar lost 99.5% of its value against Bitcoin in the last 10 years

https://bit.ly/3RAYea5 via /r/Bitcoin https://bit.ly/3EX5GVh

There are less than 1.5M BTC left to mine

https://bit.ly/3PyPi2p

Submitted September 30, 2023 at 08:28PM by ricalamino https://bit.ly/3tblAsB

In six months bitcoin will become the scarcest asset in human history.

Stock to flow measures an assets scarcity. Gold has had the highest stock to flow of any asset on earth since the formation of this planet 4.5 billion years ago.

There is a total supply of around 200,000 tonnes of gold that has ever been mined. However, there are around 3,000 tonnes of gold that are mined every year, therefore the stock-to-flow ratio of gold is:

Stock-to-flow of gold = 200,000 tonnes / 3,000 tonnes per year = 66.

Currently bitcoin has a stock-to-flow ratio of 63.

Stock-to-flow of bitcoin (before 2024 halving) = 21,000,000 btc / 328,500 btc per year = 63.

However after the next halving in six months time bitcoins stock-to-flow will be 127.

Stock-to-flow of bitcoin (after 2024 halving) = 21,000,000 btc / 164,250 btc per year = 127.

Bitcoins stock-to-flow ratio wont just exceed that of golds, it will double it, making bitcoin by far the scarcest asset planet earth has ever known.

This is a once in 4.5 billion year event. The implications for humanity are unfathomable. April 2024 will go down in history as the moment humanity changed forever and history students one thousand years from now will study this event the way we study the discovery of calculus by Isaac Newton.

Submitted September 30, 2023 at 09:48PM by slvbtc https://bit.ly/48AXmbt

Friday, 29 September 2023

Everyone that has at least 1 BTC should be running a full node

Those that hold 1 BTC are serious about Bitcoin and should be running a full node. If you want to enforce the Bitcoin consensus rules and protect the network against accidents like we just saw or any future malicious attacks then you should run your own full node. It protects your Bitcoin as well as everyone else using the network.

No, you don't need 1 BTC to run a full node, the more the better.

Thank your attending my TED talk.

Submitted September 30, 2023 at 01:43AM by fnetma https://bit.ly/3PANVQK

Everyone that has at least 1 BTC should be running a full node

As we just saw with the invalid block produced by Marathon Digital the Bitcoin network was able to recognize this invalid block and reject it. This is possible because of all the full nodes running the Bitcoin software and the invalid block not meeting the consensus rules.Those that hold 1 BTC are serious about Bitcoin and should be running a full node. If you want to enforce the Bitcoin consensus rules and protect the network against accidents like we just saw or any future malicious attacks then you should run your own full node. It protects your Bitcoin as well as everyone else using the network.No, you don't need 1 BTC to run a full node, the more the better.Thank your attending my TED talk. via /r/Bitcoin https://bit.ly/3PANVQK

The book that made me believe in bitcoin.

https://bit.ly/3RGvjS6

Submitted September 29, 2023 at 10:52PM by Goonerr49 https://bit.ly/3PXnOoq

What are YOU doing to support BTC network?

1) I hold my BTC in cold storage.2) Even after meeting my personal goal, I run a small weekly DCA just to support the network. 3) When a big news event occurs, i. e., ‘Blackrock applies for spot ETF’ I send the article out to my normie friends. 4) I am working to connect my local state legislators to bitcoin policy/advocacy groups.5) I’m using my experience, wisdom and knowledge to advocate on behalf of bitcoin when asked questions by friends and family. 6) I listen and educate myself byway of BTC podcasts. What are YOU doing to support the network? via /r/Bitcoin https://bit.ly/3EY2Cs1

The book that made me believe in bitcoin.

https://bit.ly/3RGvjS6 via /r/Bitcoin https://bit.ly/3PXnOoq

Thursday, 28 September 2023

The green lights begin!

https://bit.ly/3PAYYcz via /r/Bitcoin https://bit.ly/3PsW61e

Why is there a Bitcoin "Halving" anyways? (explained in 60 seconds)

https://bit.ly/3RCFmr6 via /r/Bitcoin https://bit.ly/3tbGtE9

Cheapest way to buy buy bitcoin.

I live in the US and have started to DCA in BTC and move this into cold storage ~weekly. What is the cheapest way to purchase BTC in the US? I have used Coinbase and Robinhood but am wondering if cash app or other exchanges are better for the way I am buying. Thanks in advance ! via /r/Bitcoin https://bit.ly/3EXF0no

#bitcoin #fiat

https://bit.ly/46xKoJT

Submitted September 28, 2023 at 09:41PM by Zealousideal_Law5977 https://bit.ly/3Zy4vW2

We will win!

I have strong conviction about bitcoin but lately had some doubts as well largely due to the disappointing price movement. Today, I listed to the What is Money podcast where Robert Breedlove interviewed Adam Back and had the realization that despite being a very very small minority, there are more and more people who are joining us. All we have to do is buy more bitcoin when it is possible and move it to cold wallet. I am making another purchase right now and moving it off exchange next week. Keep doing it and we will win!

Submitted September 28, 2023 at 12:53PM by traviszzz https://bit.ly/3ZD5rbM

Bitcoin conf + holiday to Madeira... yes plz

https://bit.ly/3t72nIt via /r/Bitcoin https://bit.ly/3t7YHq1

I am a Satoshi Millionnaire

Hey,

I am finally a Satoshi millionnaire. Will I be a Fiat millionnaire in 10-20 years?

Submitted September 28, 2023 at 06:40PM by Frog-bitcoiner https://bit.ly/3ZGCNGI

Be your own bank.

https://bit.ly/3LHFYIh via /r/Bitcoin https://bit.ly/3LEmzYK

Wednesday, 27 September 2023

Why do many people believe Bitcoin spot ETF applications will be approved?

I've heard many opinions with bad reasons why they think spot ETFs will be approved. "Blackrock...""They are accumulating...""SEC wants to make sure manipulation doesn't happen"Fact: Since at least 2017 all the bitcoin spot ETFs have been delayed until the last date possible and then denied unapologetically. So why is it different this time? via /r/Bitcoin https://bit.ly/48JxFFZ

Gary Gensler struggles to answer whether he believes Bitcoin is a security.

https://bit.ly/3ZzEjdB

Submitted September 27, 2023 at 11:54PM by cointelegraph1 https://bit.ly/3rxTdEz

SEC delays decision on spot Bitcoin ETFs as Congressmen urge approval

https://bit.ly/3ZCoXVB via /r/Bitcoin https://bit.ly/469cQSm

Gary Gensler struggles to answer whether he believes Bitcoin is a security.

https://bit.ly/3ZzEjdB via /r/Bitcoin https://bit.ly/3rxTdEz

Today, I officially became a wholecoiner according to the blockchain.

https://bit.ly/3PWx64d via /r/Bitcoin https://bit.ly/3LGeT8l

Tuesday, 26 September 2023

In 2009 Hal Finney predicted $10M per #Bitcoin He divided the world's wealth by 20 million and NOT 21 million. Did Hal imply that Satoshi would never spend his coins? Is Hal Finney Satoshi Nakamoto?

https://bit.ly/48uTCbl via /r/Bitcoin https://bit.ly/48ussl2

I plan to mine Bitcoin in the desert with power from solar panels.

I want to use 20 of these miners which will be released next year:
https://www.asicminervalue.com/miners/bitmain/antminer-s21-hyd-335th

Thoughts on my business plan?

Submitted September 26, 2023 at 10:50PM by wereqryan12 https://bit.ly/3PFtVwu

How BlackRock enters the cryptocurrency market! 🤣

https://bit.ly/3PRiBP4 via /r/Bitcoin https://bit.ly/3Zxu5KI

Bitcoin has officially surpassed 900 million transactions!

https://bit.ly/3PUhQVa

Submitted September 26, 2023 at 11:03PM by AlonShvarts https://bit.ly/3EUkrIM

I plan to mine Bitcoin in the desert with power from solar panels.

I want to buy 15 to 20 of the latest water cooled ASICs which will run on solar energy and mine me ONE WHOLE Bitcoin per month. In 10 to 12 months, I will break even, and after that, its sweet profits all the way!I want to use 20 of these miners which will be released next year:https://bit.ly/458IKNI on my business plan? via /r/Bitcoin https://bit.ly/3PFtVwu

Bitcoin has officially surpassed 900 million transactions!

https://bit.ly/3PUhQVa via /r/Bitcoin https://bit.ly/3EUkrIM

Monday, 25 September 2023

Will quantum computers mine Bitcoin faster?

Will quantum computers mine Bitcoin faster and disrupt the currency?

Submitted September 25, 2023 at 08:25AM by 94675127596852 https://bit.ly/3EOGUa2

Bitcoin Newcomers FAQ - Please read!

Welcome to the /r/Bitcoin Newcomers FAQYou've probably been hearing a lot about Bitcoin recently and are wondering what's the big deal? Most of your questions should be answered by the resources below but if you have additional questions feel free to ask them in the comments. It all started with the release of Satoshi Nakamoto's whitepaper however that will probably go over the head of most readers so we recommend the following articles/books/videos as a good starting point for understanding how Bitcoin works and a little about its long term potential:Article: The Bullish Case for BitcoinBook: The Bitcoin Standard - or download a free copy hereVideo 1: The Stories We Tell About Money - Andreas AntonopoulosVideo 2: The Bitcoin Standard - Saifdean Ammous Video 3: Bitcoin 101 - Balaji SrinivasanSome other great educational resources include;The Satoshi Nakamoto Institute (check them out!)Michael Saylor's Hope.com and "Bitcoin for Everybody"' courseJameson Lopp's resource pageGigi's resource pageJames D'Angelo's Bitcoin 101 Blackboard seriesParker Lewis's Gradually Then Suddenly seriesSome Bitcoin statistics can be found here (1, 2, 3, 4).If you are technically or academically inclined check out; Developer resources Peer-reviewed research papersCourse lectures from both MIT and Princeton Future protocol improvements and scaling resources.MicroStrategy's Bitcoin for Corporations is an excellent open source series on corporate legal and financial Bitcoin integration.You can also see the number of times Bitcoin was declared dead by the media (LOL) and what you could have earned if you didn't listen to them! XDKey properties of BitcoinLimited Supply - There will only ever be a maximum of 21,000,000 bitcoins created and they are issued in a predictable fashion per the inflation schedule. Once they are all issued Bitcoin will be truly deflationary. The halving countdown tells you approximately how much time until the next block reward halving.Open source - Bitcoin code is fully auditable. You can read and contribute to the source code yourself.Accountable - The public ledger is transparent, all transactions are seen by everyone.Decentralized - Bitcoin is globally distributed across thousands of nodes with no single point of failure and as such can't be shut down similar to how Bittorrent works. You can even run a node on a Raspberry Pi.Censorship resistant - No one can prevent you from interacting with the Bitcoin network and no one can censor, alter or block transactions that they disagree with, see Operation Chokepoint.Push system - There are no chargebacks in Bitcoin because only the person who owns the address where the bitcoin resides has the authority to move them.Borderless - No country can stop it from going in/out, even in areas currently unserved by traditional banking as the ledger is globally distributed.Trustless - Bitcoin solved the Byzantine's Generals Problem which means nobody needs to trust anybody for it to work.Pseudonymous - No need to expose personal information when purchasing with cash or transacting. Secure - Blocks and transactions are cryptographically secured (using hashes and signatures) and can’t be brute forced or confiscated with proper key management such as hardware wallets.Programmable - Individual units of bitcoin can be programmed to transfer based on certain criteria being metDivisible - Each bitcoin can be divided down to 8 decimals, which means you don't have to worry about buying an entire bitcoin. Nearly instant - From a few seconds on the Lightning Network to a few minutes on-chain depending on need for confirmations. Transactions are irreversible by normal users after one confirmation and irreversible by anyone (including miners) after 6 confirmations. Peer-to-peer - No intermediaries taking a cut, no need for trusted third parties.Designed Money - Bitcoin was created to fit all the fundamental properties of money better than gold or fiat.Portable - Bitcoin are digital so they are easier to move than cash or gold. They can be transported by simply carrying a seed (a string of 12 to 24 words) on a device or by memorizing it for wallet recovery (while cool, memorizing is generally not recommended due to potential for forgetting the seed and the potential for insecure key generation by inexperienced users. Hardware wallets are the preferred method for most users for their ease of use and additional security).Low fee scaling - Most wallets calculate on chain fees automatically but you can view fee estimates and mempool activity if you want to set your fee manually. On chain fees may rise occasionally due to network demand, however instant micropayments that do not require confirmations are happening via the Lightning Network, an open source second layer payment protocol built on top of the Bitcoin blockchain. The Lightning Network enables Bitcoin users to instantly send and receive bitcoin with fees so low that they are negligible.Scalable - While the protocol is still being optimized for increased transaction capacity, blockchains do not scale very well, so most transaction volume is expected to occur on Layer 2 networks built on top of Bitcoin.Where can I buy bitcoin?Bitcoin.org and BuyBitcoinWorldwide.com are helpful sites for beginners. You can buy or sell any amount of bitcoin (even just a few dollars worth) and there are several easy methods to purchase bitcoin with cash, credit card or bank transfer. Some of the more popular places to buy bitcoin are listed below.StrikeCash AppSwanRiver FinancialKrakenGeminiBitstampBitFinexXapoCexRelaiLibertyXCoinCornerRoboSats (P2P)Bisq (decentralized & P2P)List of peer-to-peer exchangesYou can also purchase in cash with local ATMs. Services such as CardCoins let you purchase bitcoin with prepaid gift cards. If you would like your paycheck automatically converted to bitcoin use Bitwage. Note: Bitcoin are valued at whatever market price people are willing to pay for them in balancing act of supply vs demand. Unlike traditional markets, bitcoin markets operate 24 hours per day, 365 days per year. Securing your bitcoinWith Bitcoin you can "Be your own bank" and personally secure your bitcoin OR you can use third party companies aka "Bitcoin banks" which will hold your bitcoin for you.If you prefer to "Be your own bank" and have direct control over your coins without having to use a trusted third party, then you will need to create your own wallet and keep it secure. If you want easy and secure storage without having to learn best computer security practices, then a hardware wallet such as a BitBox02, Trezor, ColdCard, or Blockstream Jade is recommended. You can even build your own open source hardware wallet called a SeedSigner.If you cannot afford a hardware wallet there are many software wallet options to choose from depending on your use case. Mobile wallets like BlueWallet are generally more secure than desktop wallets. Beware of fake mobile wallets and check reviews from reputable Bitcoin websites. Avoid paper wallets or brain wallets.If you prefer to let third party "Bitcoin banks" manage your coins, try Gemini or Unchained Capital but be aware you may not be in control of your private keys in which case you would have to ask permission to access your funds and be exposed to third party risk. There is a saying in the community, "Not your keys, not your coins". This means that if you don't store your coins in a wallet that you control the keys to, then you do not really own your bitcoin as you have to ask permission from the third party in order to move them. Note: For increased security, use Two Factor Authentication (2FA) everywhere it is offered, including email! 2FA requires a second confirmation code or a physical security key to access your account making it much harder for thieves to gain access. Google Authenticator and Authy are the two most popular 2FA services, download links are below. Make sure you create backups of your 2FA codes.Avoid using your cell number for 2FA. Hackers have been using a technique called "SIM swapping" to impersonate users and steal bitcoin off exchanges.Google AuthAuthyOTP AuthandOTPAndroidAndroidN/AAndroidiOSiOSiOSN/APhysical security keys (FIDO U2F) offer stronger security than Google Auth / Authy and other TOTP-based apps, because the secret code never leaves the device and it uses bi-directional authentication so it prevents phishing. If you lose the device though, you could lose access to your account, so always use 2 or more security keys with a given account so you have backups. See Yubikey or Titan to purchase security keys.Both Coinbase and Gemini support physical security keys. Watch out for scamsAs mentioned above, Bitcoin is decentralized, which by definition means there is no official website or Twitter handle or spokesperson or CEO. However, all money attracts thieves. This combination unfortunately results in scammers running official sounding names or pretending to be an authority on YouTube or social media. Many scammers throughout the years have claimed to be the inventor of Bitcoin. Websites like bitcoin(dot)com and the r / btc subreddit are active scams. Almost all altcoins are marketed heavily with big promises but are really just designed to separate you from your bitcoin. So be careful: any resource, including all linked in this document, may in the future turn evil. As they say in our community, "Don't trust, verify". Avoid using ad-based search engines like Google or Yahoo: ads are shown based on how much the advertiser bids, and scammers can easily outbid legitimate providers for ad space, since immoral ways of earning money are far more lucrative than moral ways. Use DuckDuckGo instead, which has no ads, and never tracks you as well.Ignore private messages offering services.Never enter your seed words in a website of any kind. Hardware wallets will recover by displaying possible seed words on their own interface, never on a website.Always check addresses on your hardware wallet before sending or receiving. Some malware has been known to replace addresses in your web browser or that you copy-and-paste.Avoid clicking on links like that look like links, such as https://bit.ly/3mYaXko, without first hovering over it and actually checking where they go to. Just because a link is labelled with an HTTPS address does not mean it actually sends you to that address. It is trivial for someone to comment a link on Reddit that looks like it will send you to one website when it actually sends you to another, and you might not notice the difference until a scammer has gotten all your money, or you have downloaded and installed software that steals your money.Common Bitcoin MythsOften the same concerns arise about Bitcoin from newcomers. Questions such as:Will quantum computers break Bitcoin?Will governments ban Bitcoin?Is Bitcoin a Ponzi scheme?All of these questions have been answered many times by a variety of people. Here are some resources where you can see if your concern has been answered:Common Bitcoin MythsGradually, Then SuddenlyEvery Reason Bitcoin Will Not FailThe Best Articles Debunking Bitcoin FUDWhy Bitcoin is Not a Ponzi Scheme: Point by PointWhere can I spend bitcoin?Check out Spendabit, Bitcoin Directory, or Coinmap for a plethora of merchant options. You can also spend bitcoin anywhere Visa is accepted with bitcoin debit cards such as the CashApp card, Fold card or other bitcoin debit cards. Some other useful site are listed below.StoreProductBitrefill, Gyft, and Fold AppGift cards for thousands of retailers worldwide including Amazon, Target, Walmart, Starbucks, Whole Foods, CVS, Lowes, Home Depot, iTunes, Best Buy, Sears, Kohls, eBay, GameStop, etc.Spendabit, Overstock, and The Bitcoin DirectoryRetail shopping with millions of resultsNewEgg and DellFor all your electronics needsBitrefill, Bylls, LivingRoomofSatoshi, Swapin, Coins.ph, and moreBill paymentMenufy and TakeawayTakeout delivered to your doorExpedia, Cheapair, Destinia, SkyTours, the Travel category on Gyft and 9flatsFor when you need to get awayCryptostorm, Mullvad, and PIAVPN servicesNamecheap, PorkbunDomain name registrationStampnikDiscounted USPS Priority, Express, First-Class mail postageThere are also lots of charities which accept bitcoin donations.Merchant ResourcesThere are several benefits to accepting bitcoin as a payment option if you are a merchant;1-3% savings over credit cards or PayPal.No chargebacks (final settlement in 10 minutes as opposed to 3+ months).Accept business from a global customer base.Convert 100% of the sale to the currency of your choice for deposit to your account, or choose to keep a percentage of the sale in bitcoin if you wish to begin accumulating it.If you are interested in accepting bitcoin as a payment method, there are several options available;BTCPay ServerSquare cashStripeWyreBlockonomics (direct to your wallet)CoinCorner CheckoutCan I mine bitcoin?Mining bitcoin can be a fun learning experience, but be aware that you will most likely operate at a loss. Newcomers are often advised to stay away from mining unless they are only interested in it as a hobby similar to folding at home. If you want to learn more about mining you can read the mining FAQ. Still have mining questions? The crew at /r/BitcoinMining would be happy to help you out. If you want to contribute to the Bitcoin network by hosting the blockchain and propagating transactions you can run a full node. You can view the global distribution of reachable Bitcoin nodes on this webpage.Earning bitcoinJust like any other form of money, you can also earn bitcoin by being paid to do a job.SiteDescriptionWorkingForBitcoins, Bitwage, Coinality, Bitgigs, /r/Jobs4Bitcoins, BitforTip, and Rein ProjectFreelancingLolliEarn bitcoin when you shop online!Purse.io, Bitify, and /r/BitmarketMarketplacesA-ads, Coinzilla.ioAdvertisingYou can also earn bitcoin by participating as a market maker on JoinMarket by allowing users to perform CoinJoin transactions with your bitcoin for a small fee (requires you to already have some bitcoin).Bitcoin-Related ProjectsThe following is a short list of ongoing projects that might be worth taking a look at if you are interested in current development in the Bitcoin space. ProjectDescriptionLightning NetworkSecond layer scalingLiquid and RootstockSidechainsHivemindPrediction marketsTierion and FactomRecords & Titles on the blockchainBitMarkets, and DropZone and BeaverDecentralized marketsJoinMarket, Samourai Whirlpool, and WasabiCoinJoin implementationPeer-to-Peer ExchangesPeer-to-peer exchangesKeybaseIdentity & Reputation managementAbraGlobal P2P money transmitter networkBitcoreOpen source Bitcoin javascript libraryBitcoin UnitsOne bitcoin is worth quite a lot (thousands of £/$/€), so people often deal in smaller units. The most common subunits are listed below:UnitSymbolValueInfobitcoinBTC1 bitcoinone bitcoin is equal to 100 million satoshismillibitcoinmBTC1,000 per bitcoinused as default unit in Electrum walletbitμBTC1,000,000 per bitcoincolloquial "slang" term for microbitcoinsatoshisat100,000,000 per bitcoinsmallest unit in bitcoin, named after the inventorFor example, assuming an arbitrary exchange rate of $10,000 for one bitcoin, a $10 meal would equal:0.001 BTC1 mBTC1,000 bits100,000 satsFor more information check out the bitcoin units wiki.Still have questions? Feel free to ask in the comments below or stick around for our weekly Mentor Monday thread. If you decide to post a question in /r/Bitcoin, please use the search bar to see if it has been answered before, and remember to follow the community rules outlined on the sidebar to receive a better response. The mods are busy helping manage our community, so please do not message them unless you notice problems with the functionality of the subreddit.Note: This is a community created FAQ. If you notice anything missing from the FAQ or that requires clarification, you can edit it here and it will be included in the next revision pending approval. Welcome to the Bitcoin community and the new decentralized economy!Please note that this thread will be moderated and non-constructive comments will be removed. via /r/Bitcoin https://bit.ly/45Gy8GN

They come back everytime

https://bit.ly/3t7myWV via /r/Bitcoin https://bit.ly/467IgZq

How many of you would consider moving for retirement?

I don’t see America as good as it used to be. I think it gets worse by the year. How many of you sometimes consider moving in the future especially if it’s more bitcoin friendly and cheaper?

Submitted September 25, 2023 at 11:24PM by satoshyy https://bit.ly/3LAxTVI

Take a look at history: bitmain's miners and the increasing efficiency of them, and the price of 1 btc at the day of launch ⛏️

https://bit.ly/3EOWvGw

Submitted September 25, 2023 at 02:39PM by cryptominerbros https://bit.ly/3rnplL9

How many of you would consider moving for retirement?

I don’t see America as good as it used to be. I think it gets worse by the year. How many of you sometimes consider moving in the future especially if it’s more bitcoin friendly? via /r/Bitcoin https://bit.ly/3LAxTVI

Sunday, 24 September 2023

Selling my Condo to buy BTC

Since I retired and moved to Europe I am putting my Condo in Miami on the Market for Sale. I have a high Equity on my Unit and I’m planing to invest 85% of my net Capital Gains (after Realtor Com. & Taxes) into BTC. The other 15% I plan to hold in cash for my Living Expenses of the next 3 Years.

My Question: I known that DCA is the way to invest in BTC which I have done in the past 7 Years. Should I buy BTC in a DCA fashion since we are close to the Halving in the 2 Quarter of 2024 and and a subsequent Bull Market ? Or should I buy BTC in one shot since I feel that the Price will ultimately go up very soon ?

Any Suggestions are greatly appreciated 🙏

Submitted September 25, 2023 at 12:33AM by jeanpaulinmiami https://bit.ly/48vbQKa

50k in bank

Should I dca or just purchase one coin?

What would be the safest way to purchase a coin and send it off to a blackchain don't leave it on the exchange right

Submitted September 24, 2023 at 09:48AM by Outside_Parsnip_710 https://bit.ly/48tZYYM

GM☕️

https://bit.ly/3Pwp1Bz

Submitted September 24, 2023 at 02:10PM by ricsi_btc https://bit.ly/3rn7CDz

Get paid sats for providing power to the grid.

https://bit.ly/455DKco via /r/Bitcoin https://bit.ly/3Pu1xgG

Can someone ELI5 what the halving is and why people think it will make bitcoin go up

When I see people talking about the halving there seems to be great confidence and a shared understanding that it is going to make BTC 🚀. Why?Can someone explain what this is to me and why we think it’s pretty sure fire for it to increase BTC significantly? via /r/Bitcoin https://bit.ly/46m2cHz

Blackrock is quietly investing in top Bitcoin Mining companies, and have become 2nd largest shareholder in them all

https://bit.ly/3rqioJb

Submitted September 24, 2023 at 09:47PM by kadudu888 https://bit.ly/3LC4rP4

The moment I realized what Bitcoin was!

What is Gold backs buy? Nothing but human history, time and the illusion of scarcity( since nobody knows the true supply of gold, custodians can lie on paper or someone could go dig and find more).Bitcoin was created after the 2008 housing crisis and the banking failures. It provides a solution to force everyone and every entity to become honest by its immutable ledger that is accessible to the public at large. It forces corporations and governments to respect private property. It prevents theft through inflation The first triple point asset ever created: (a) The best store of Value, (b) The best medium of exchange, (c) The best unit of account. Bitcoin is the only asset that exists in all those three functions of money at the same time Given those, over 8 billion people are competing for each of those three functions in some aspect. Either they find some of those in fiat, some in gold and in other assets, but never all three in one asset until Bitcoin. Here’s your total return if you have been holding the following assets in 14 years since Bitcoin went public:Gold = 94%S&P = 312%BTC = 2.6 billion %Bitcoin is the best performing asset in all of human history. Bubbles last on average 5.6 years economic cycles or less. Bitcoin is approaching 15 yearsBeing someone who has worked all of his life and watching my savings gone down the toilet through the years and therefore cannot afford to retire. Having said all that, knowing there’s now an asset that solves that problem, how do you think I value that asset? How do you think 8 billion people will value that asset when they’ve come to realized what it is and it’s supply is known and capped?All the top money managers in the world are grabbing all the BTC supplies from the exchanges everyday, governments are accumulating thousands without putting them back into circulation. Meanwhile the common folks are sitting back calling it a scam, a ponzi, a bubble, a mania etc…I wonder why? via /r/Bitcoin https://bit.ly/48p5hsn

Saturday, 23 September 2023

Satoshi

https://bit.ly/3EUTRik via /r/Bitcoin https://bit.ly/3RsptUc

Daily Discussion, September 23, 2023

Please utilize this sticky thread for all general Bitcoin discussions! If you see posts on the front page or /r/Bitcoin/new which are better suited for this daily discussion thread, please help out by directing the OP to this thread instead. Thank you!

If you don't get an answer to your question, you can try phrasing it differently or commenting again tomorrow.

Please check the previous discussion thread for unanswered questions.

Submitted September 23, 2023 at 02:05PM by rBitcoinMod https://bit.ly/3LAYbai

Bitcoin is the Apex Predator. Cut It in Half and It Comes Back 20X Stronger.

https://bit.ly/3ZBcvWb via /r/Bitcoin https://bit.ly/3ta6NyA

Buying all remaining Bitcoin

To my quick understanding, there are ~2,000,000 Bitcoin left. With the current price around ~$26,700. So can someone, a country, etc. buy the remaining bitcoin? My math comes out to $530b for the cost of remain available.

Not saying it’ll be a smart move (totally have no idea anyhow, maybe a small portion incrementally?), but is it hypothetically possible?

Submitted September 23, 2023 at 10:00PM by alp326 https://bit.ly/451HHz6

Celebrating Costa Rica 🇨🇷 Independence with the liberating power of #Bitcoin

https://bit.ly/3taQDoi via /r/Bitcoin https://bit.ly/3Psed7z

Friday, 22 September 2023

BuT iF pRiCeS cOnSiStEnTlY gO dOwN, nO oNe WiLl BuY aNyThInG!!1!eleventy1!

And yet, people are buying them. Today. Weird. Don't these people know that it'll be cheaper to buy an iPhone 15 next year? Why would they spend their money now when it's going to be cheaper a year from now? Are they being directed by a central authority to buy consumer goods now instead of waiting so the economy doesn't crash in a downward spiral from a lack of spending?

I'm sure this is just a fluke and doesn't apply to other consumer goods like cars, TVs, boats, computers, kitchen appliances, Fluke multimeters, (and as King Mongkut of Siam once said), "etcetera, etcetera, etcetera."

There really seems to be a dichotomy between the deflationary argument against Bitcoin and peoples actual purchasing trends and habits. One of the two must be correct. Either people in general will wait to buy things at a cheaper price in a deflationary world, or people in general will buy what they want when they want. Empirically, I would say that price deflation seems to have little to no effect on the vast majority of people. New car sales have been rising in the U.S., despite it being common knowledge that it's far more inexpensive to buy the same car a year or two later (or 10 or 20 in my case). iPhone15s are selling well today, and new TV sales are up despite used (or even 1 year old new) TVs online being near the point of "I'll pay you to take it" in price. I understand the argumental flow of the deflationary case against Bitcoin, but it sure seems that the real world data doesn't support that approach. But what do I know, I'm just a working stiff that has to budget purchases in ever increasing fiat prices with a W2 job that's not keeping up. If only there were some way I could preserve my purchasing power for the things I know I'll need in the future.

Submitted September 22, 2023 at 10:59PM by Ralph_Naders_Ghost https://bit.ly/462PHRJ

Deceased brother may have bought Bitcoin

My older brother passed suddenly in 2017. He was, to say the least, eccentric in every way. We did find receipts that he has bought platinum and gold, although we have never found any, physically. He was the kind of guy that would bury it in the backyard kind of thing. My husband and I were thinking that he might have bought bitcoin, it is totally something he would be interested in. Is there any way to find out? I’m not even sure we still have his laptop…I would have to ask my dad. Thanks in advance for any info!

Submitted September 22, 2023 at 10:01PM by dadapixiegirl https://bit.ly/3rnpVZ8

Democrat Senator who introduced bill to combat money laundering in El Salvador gets indicted for money laundering

https://bit.ly/3LxUL8v via /r/Bitcoin https://bit.ly/3tbQAsn

Coinbase CEO Warns: Regulators Fear Digital Assets Could Erode Their Grip on Citizens

https://bit.ly/45WLmPQ

Submitted September 22, 2023 at 10:24PM by No-Comparison-9307 https://bit.ly/46gG6XH

BuT iF pRiCeS cOnSiStEnTlY gO dOwN, nO oNe WiLl BuY aNyThInG!!1!eleventy1!

Today the iPhone 15 is being released at a price of roughly $800 to $1100 each with better than projected orders by retailers. I'm willing to bet, based on past trends, that the iPhone 15 will be cheaper a year from now, just like every other phone ever.And yet, people are buying them. Today. Weird. Don't these people know that it'll be cheaper to buy an iPhone 15 next year? Why would they spend their money now when it's going to be cheaper a year from now? Are they being directed by a central authority to buy consumer goods now instead of waiting so the economy doesn't crash in a downward spiral from a lack of spending?I'm sure this is just a fluke and doesn't apply to other consumer goods like cars, TVs, boats, computers, kitchen appliances, Fluke multimeters, (and as King Mongkut of Siam once said), "etcetera, etcetera, etcetera."There really seems to be a dichotomy between the deflationary argument against Bitcoin and peoples actual purchasing trends and habits. One of the two must be correct. Either people in general will wait to buy things at a cheaper price in a deflationary world, or people in general will buy what they want when they want. Empirically, I would say that price deflation seems to have little to no effect on the vast majority of people. New car sales have been rising in the U.S., despite it being common knowledge that it's far more inexpensive to buy the same car a year or two later (or 10 or 20 in my case). iPhone15s are selling well today, and new TV sales are up despite used (or even 1 year old new) TVs online being near the point of "I'll pay you to take it" in price. I understand the argumental flow of the deflationary case against Bitcoin, but it sure seems that the real world data doesn't support that approach. But what do I know, I'm just a working stiff that has to budget purchases in ever increasing fiat prices with a W2 job that's not keeping up. If only there were some way I could preserve my purchasing power for the things I know I'll need in the future. via /r/Bitcoin https://bit.ly/462PHRJ

Thursday, 21 September 2023

Congress Advances Pioneering Anti-CBDC Bill To Curb Surveillance

https://bit.ly/3EP7X58

Submitted September 21, 2023 at 09:04PM by No-Comparison-9307 https://bit.ly/3PzrviW

My friend paying with Bitcoin Lightning ⚡ in Lebanon 🇱🇧

https://bit.ly/3POKDdK via /r/Bitcoin https://bit.ly/3EU7XR3

Running a full node on 2015 macbook pro?

Hi friends. I want to run my own node (full node ideally), but do not want to buy a raspberry pi or spend money to do it. I have an old 2015 macbook pro that is my main personal computer, however i dont use it a ton now that i am no longer in school. Will running a full node on my macbook greatly effect its performance? Of course i will store the blockchain on an external hard drive. Has anyone tried this with a similar computer and had success? Also, if a full node is not possible would it run a pruned node with no issues?

Thanks for your help!

Submitted September 21, 2023 at 03:22AM by Honest_Poetry_9432 https://bit.ly/460ysR0

Fiat Winter's Coming, And So Is The Halving

Speculation Alert: But, there is a narrative at play. The fed's halted rate hikes with fears now of a "worse recession than imagined". Meanwhile, there is insane pressure coming from the major asset management firms - Fidelity, Invesco Galaxy, VanEck, Ark, and the colossus themselves, BlackRock - urging the Fed to stop dicking around and get the ball rolling on the Spot ETF approvals. The speculation? These firms aren't naive, especially BlackRock. They know that the Bitcoin halving is now officially around the corner. What's going to happen if we do see a recession (if we're not already in one) and people lose further faith in the US dollar? Gary Gensler is an obvious enemy of crypto, yes. However, whose to say he's not being paid off to orchestrate timed narratives? How can you say no to an asset management firm offering you a substantial payout in order to make it happen? I sure as hell can't say for sure. If you ask me, these Spot ETF approvals could be either timed to "coincidentally" be approved around or after the halving, or these asset management firms at least know what's coming. via /r/Bitcoin https://bit.ly/3Pqjo87

Which hardware wallet for non-tech wife?

About to open an unchained capital multisig vault. They allow coldcard, ledger and trezor. I think coldcard would be too complex for her (that's my own wallet of choice). Ledger no go for obvious reasons. How user friendly is trezor? Does it have Bitcoin only mode?

Submitted September 21, 2023 at 10:28AM by Flurb789 https://bit.ly/46mWmWs

Bitcoin is the name of the network, sats is the name of the money.

I just realised that soon saying you own bitcoin will make you you sound old AF.Growing up every kid comes across an older adult who says things that make them sound ancient. When I was young I was once in a car with my older aunty and she said turn on the wireless. What the fuck is a wireless? The radio. Oh ok why on earth do you call a radio a wireless. It made her sound like she was from world war one.Theres so many examples of this in daily life. Some older people still refer to the internet as the world wide web because thats what everyone called it in the 90s.Right now we have this luxury of refering to whole bitcoins but that wont last forever. Soon one bitcoin will be worth so much the only way to effectively refer to amounts of bitcoin will be using sats. Sats just makes so much more sense especially when one bitcoin is above $100k.Once sats become the main currency term used bitcoin or bitcoins will no longer be used when talking about the currency. Bitcoin will be the name of the network and sats will be the currency everyone owns and uses.You will ask a kid in 2035 if they have bitcoin and they will say I dont have bitcoin I have sats. Looking back there will have been this tiny initial 15 year window where we all called the bitcoin currency "bitcoins" but after that initial window for the rest of bitcoins existence the bitcoin currency will be called sats by everyone on earth.In 2035 if you say you own bitcoin or you want to pay using bitcoins kids will laugh at you and tell you that you sound old AF. Everyone will save sats, pay with sats, transact with sats, use sats, send sats, and tip sats. The name of the network will be bitcoin but the monetary unit will be known by everyone as sats not "bitcoins" and if you try to use the term bitcoins you will be considered ancient and out of touch.Once one bitcoin (sorry, 100 million sats) is worth more than $100k im going to stop saying bitcoins and im going to only refer to the monetary unit as sats from that point on.Bitcoin is the name of the network, sats is the name of the money. via /r/Bitcoin https://bit.ly/3LBBjaL

Breaking News. Mt Gox repayment date delayed from oct 31, 2023 to oct 31, 2024. Continue to DCA

https://bit.ly/3RvaqJA

Submitted September 21, 2023 at 03:19PM by DakJev https://bit.ly/3Lt6Ifu

Congress Advances Pioneering Anti-CBDC Bill To Curb Surveillance

https://bit.ly/3EP7X58 via /r/Bitcoin https://bit.ly/3PzrviW

Wednesday, 20 September 2023

Live footage of me waiting for the ETF

https://bit.ly/46eeC4i via /r/Bitcoin https://bit.ly/44Zap3w

Bitcoin Surges to $32,500 in China

https://bit.ly/3PKE0Z5

Submitted September 20, 2023 at 10:37PM by CriptoinformeNews https://bit.ly/3PtCEld

Its all supply and demand

At the last halving in May 2020 I posted this.

Yesterday there was $15,300,000 of daily demand for newly mined bitcoin at these price levels ($8500 × 1800 coins = $15,300,000). Note if a miner doesn't sell then the miner is the demand (mined coins are not free).

Today the amount of coins mined daily is half (900 coins less), meaning $7,650,000 of that $15,300,000 daily demand now has no new supply to buy.

Where is that demand going to get its supply now? It will have to start outbidding the other $7,650,000 of demand for it.

Never before in bitcoins history has a halving left this much demand (in dollar terms) without any new bitcoin to buy.

Lets do the same equation for this upcoming 2024 halving at todays price.

Right now in 2023 there is $22,500,000 of daily demand for newly mined bitcoin at these price levels ($25,000 × 900 coins = $22,500,000).

After the next halving in 2024 the amount of coins mined daily will be half (450 coins less). Meaning $11,250,000 of that $22,500,000 will have no new supply to buy.

Where is the demand going to get its supply now? It will have to start outbidding the other $11,250,000 of daily demand for it.

If the bitcoin price is still $25k by the next halving, never before in bitcoins history will there have been this much demand (in dollar terms) with no new supply to buy. The price will have no choice but to increase in order to balance supply and demand.

And this is if the price stays at around $25k. If the price is up at $60k by the next halving then the day after the halving instead of being $11,250,000 worth of daily demand with no new supply to buy there will be $27,000,000 worth of daily demand that suddenly has no new supply to buy.

After each halving in bitcoins history there has been more demand in dollar terms left with no new supply to buy. This means each halving has been more significant than the last simply because daily demand has always been higher at every halving than at the last. This is evident in the fact each halving has increased bitcoins market cap by more in absolute terms than the last halving.

This means bitcoin halvings will not start having diminishing effects until daily demand stops growing. So long as daily demand keeps growing year after year each bitcoin halving will be more significant than the last.

This is why the 2024 halving will be even more impactful than the 2020 halving.

Submitted September 20, 2023 at 08:29PM by slvbtc https://bit.ly/3ZFuSJP

Bitcoin Surges to $32,500 in China

https://bit.ly/3PKE0Z5 via /r/Bitcoin https://bit.ly/3PtCEld

Its all supply and demand

At the last halving in May 2020 I posted this.Yesterday there was $15,300,000 of daily demand for newly mined bitcoin at these price levels ($8500 × 1800 coins = $15,300,000). Note if a miner doesn't sell then the miner is the demand (mined coins are not free).Today the amount of coins mined daily is half (900 coins less), meaning $7,650,000 of that $15,300,000 daily demand now has no new supply to buy.Where is that demand going to get its supply now? It will have to start outbidding the other $7,650,000 of demand for it.Never before in bitcoins history has a halving left this much demand (in dollar terms) without any new bitcoin to buy.Lets do the same equation for this upcoming 2024 halving at todays price.Right now in 2023 there is $22,500,000 of daily demand for newly mined bitcoin at these price levels ($25,000 × 900 coins = $22,500,000).After the next halving in 2024 the amount of coins mined daily will be half (450 coins less). Meaning $11,250,000 of that $22,500,000 will have no new supply to buy.Where is the demand going to get its supply now? It will have to start outbidding the other $11,250,000 of daily demand for it.If the bitcoin price is still $25k by the next halving, never before in bitcoins history will there have been this much demand (in dollar terms) with no new supply to buy. The price will have no choice but to increase in order to balance supply and demand. And this is if the price stays at around $25k. If the price is up at $60k by the next halving then the day after the halving instead of being $11,250,000 worth of daily demand with no new supply to buy there will be $27,000,000 worth of daily demand that suddenly has no new supply to buy.After each halving in bitcoins history there has been more demand in dollar terms left with no new supply to buy. This means each halving has been more significant than the last simply because daily demand has always been higher at every halving than at the last. This is evident in the fact each halving has increased bitcoins market cap by more in absolute terms than the last halving.This means bitcoin halvings will not start having diminishing effects until daily demand stops growing. So long as daily demand keeps growing year after year each bitcoin halving will be more significant than the last.This is why the 2024 halving will be even more impactful than the 2020 halving. via /r/Bitcoin https://bit.ly/3ZFuSJP

Tuesday, 19 September 2023

Homes aren't going up, the dollar is going down.

https://bit.ly/45XbKce

Submitted September 20, 2023 at 12:24AM by suuperfli https://bit.ly/3LvQfXT

Daily Discussion, September 19, 2023

If you don't get an answer to your question, you can try phrasing it differently or commenting again tomorrow.

Please check the previous discussion thread for unanswered questions.

Submitted September 19, 2023 at 02:02PM by rBitcoinMod https://bit.ly/3RyNBEu

If you could hold Bitcoin in a tax-free retirement account

If you could hold Bitcoin in a tax-free retirement account, what percentage would you allocate to Bitcoin vs. stocks?Biased answers coming, I know. But still curious. via /r/Bitcoin https://bit.ly/3rlIXzc

B

https://bit.ly/3rnA48f

Submitted September 19, 2023 at 11:05PM by fresheneesz https://bit.ly/3sVXfHb

Homes aren't going up, the dollar is going down.

https://bit.ly/45XbKce via /r/Bitcoin https://bit.ly/3LvQfXT

Monday, 18 September 2023

How I made 1 BTC after 4 years and 163 days

This is follow up post to this which got so much engagments. Thanks you guys for all the congratulations! Too many people for me to be able to answer asked about the approach I used and how I did it, so I will answer here. Below are the most important lessons I learned.So basically I finally reached 1 btc after 4 years and 163 days being from "almost-a-third-world-country".The best day to start is yesterday: I started to DCA in 2019 (not proper DCA, just bought a little here and there). So even if if my DCA was not disciplined, it didn't matter. Today, the absolute most important factor was that I started all the way back then. This is the main reason I have 1 BTC today. Use a wallet: I started using a wallet because to pass KYC on some exchanges back then when you are not from a "nice" country is very hard. I think this was luck because so many people have lost their BTC to centralized exchanges this past 2 years... Custom DCA Strategy: Most people actually asked about this. I DCA'd regularly but I screwed up during the bull run. Bought in hype and sold some in panic - lost many of my sats/$$. After that I started DCA as regular again but I used the risk model from alphasquared to basically adjust the amount I DCA. It helped a ton speeding up my accumulation and I made a lot of my sats/$$ back that I lost. Invested for most of my cash stack during the bottom last year because of it. Bonus tip: Influencers never helped me, for all these years they always turned out to be wrong in the end. Just look at last cycle. Bitcoin does what Bitcoin wants!Thanks again guys and good luck via /r/Bitcoin https://bit.ly/3LsO5IO

Michael Saylor on the Significance of the Spot Bitcoin ETF

https://bit.ly/455oTPy via /r/Bitcoin https://bit.ly/3LqWjRz

Headed by Agustín Carstens, BIS Once Again Alerts on Bitcoin and Cryptocurrency via a Totally Misleading Report Aping CBDCs. Just two words to remember: Reject CBDCs.

https://bit.ly/3rhGcio

Submitted September 18, 2023 at 10:18PM by sylsau https://bit.ly/3rf6zpd

Is this normal?

https://bit.ly/3PK8hIG via /r/Bitcoin https://bit.ly/3PqFtDC

Fiat is a leaky bucket, Bitcoin is a perfect time lock!

https://bit.ly/3Rw7o7T

Submitted September 18, 2023 at 08:56PM by ConversationBulky964 https://bit.ly/3Ls5LUE

The Revolution will not be Televised (but its a Bitcoin parody)

You will not be able to stay home brotherYou will not be able to plug in, turn on and cop outYou will not be able to lose yourself on skag andSkip out for beer during commercialsBecause the revolution will not be televisedThe revolution will not be televisedThe revolution will not be brought to you by Black RockIn four parts without commercial interruptionsThe revolution will not show you pictures of Joe BidenBlowing a bugle and leading a charge by Barak ObamaGeneral "Mad Dog" Mattis and Douglas LuteTo eat hog maws confiscated from a Harlem sanctuaryThe revolution will not be televisedThe revolution will not be brought to you byUniversal Studios and will not starMatt Damon and Connor McGregor or Eminem and Snoop DoggThe revolution will not give your mouth sex appealThe revolution will not get rid of the nubsThe revolution will not make you look five pounds thinnerBecause the revolution will not be televised, brotherThere will be no pictures of you and Tom BradyPushing that shopping cart down the block on the dead runOr trying to slide that color TV into a stolen ambulanceNBC will not be able to predict the winner at 8:32Or report from 29 districtsThe revolution will not be televisedThere will be no pictures of Bitcoin helpingPeople escape war on the instant replayThere will be no pictures of Bitcoin helpingPeople escape war on the instant replayThere will be no pictures of Jimmy FallonBeing run out of Harlem on a rail with a brand new processThere will be no slow motion or still lifes of Elon MuskStrolling through Watts in a yellow and blackLibertarian jumpsuit that he had been savingFor just the proper occasionMoons, Lambos, and ShitcoinsWill no longer be so damned relevantAnd people will not care if a new shitcoin is going to 1000xTo dump it all the next day because peopleWill be in the street looking for a brighter dayThe revolution will not be televisedThere will be no highlights on the eleven o'clock newsAnd no pictures of on the ground grassroots organizersAnd Jill Biden blowing her noseThe theme song will not be written by Nami MelumadOr Diane Warren, nor sung by Madonna CicconeAriana Grande, Taylor Swift, Rihanna or Billie EilishThe revolution will not be televisedThe revolution will not be obfuscated awayCome default on the newest IPhone, deposited into banks or ran by a companyYou will not have to worry about the insolvency of another custodianThe payment or withdraw denials from your bank or an explanation for paying face to faceThe revolution will not go better with CokeThe revolution will not fight germs that may cause bad breathThe revolution WILL put YOU in the driver's seatThe revolution will not be televised, will not be televisedWill not be televised, will not be televisedThe revolution will be no re-run, brothersThe revolution will be liveOriginal: https://www.youtube.com/watch?v=vwSRqaZGsPw via /r/Bitcoin https://bit.ly/3ZtwhTC

Spot BTC ETF back-of-an-envelope effect estimate

A rough back-of-an-envelope estimate for what the effect of spot BTC ETFs can be on BTC dollar price for a four-year period.

Please provide your feedback and criticism about which assumptions are realistic and which are not. I admit that some of the assumptions are deliberately made restrictive and conservative.

A few assumptions

Assumption 1: The AUM of the companies filing for spot BTC ETF is $17.7T (this is a number often cited so I take it as it is)

Assumption 2: the initial price of BTC when ETF capital allocations start is $26K

Assumption 3: the multiplier (i.e., how much dollars need to flow into BTC to move its price by 1%) is initially set at $200M. This is based on an often cited number from Bank of America analysts who estimate this to be around $100M at the peak of the last bull run and multiplying this by 2 (assuming that BoA were too optimistic in their estimate).

Assumption 4: in every subsequent year of the four-year period this multiplier increases threefold (i.e., in year 2 it becomes $600M)

Assumption 5: companies start with an initial allocation of 0.25% of their AUM and add additional 0.25% of AUM in each subsequent year for a total of 1% of AUM for the period 2024-2028.

Under those assumptions the estimated price of BTC, purely because of ETF flows and no other sources of demand, is estimated to be $195K per BTC at the end of the four-year period.

To put this into perspective, even under these conservative assumptions, that would put the market cap of BTC at 3 times the market cap of silver (an asset that has been around for millennia).

Submitted September 18, 2023 at 02:43PM by MeMyself159 https://bit.ly/3PHRPZa

Sunday, 17 September 2023

The only true wealth you can own

https://bit.ly/3ZlK5zm via /r/Bitcoin https://bit.ly/3EFuLnR

DCA in the Wild West of Crypto: The Tale of the 2022 Bitcoin Bear Market (With Real Data!)

Howdy, fellow HODLers! Ever heard that age-old wisdom "Time in the market beats timing the market?" Well, I took it upon myself to see how bulletproof this strategy really is in the wild, wild west of crypto!

The Data Source

First things first—this is not fake news, partner. I used real, verified data from CoinMarketCap's weekly historical snapshots, starting from the good old times on November 13, 2021, when Bitcoin was at a lofty $64,469.53, to November 26, 2022, when it was at a "humble" $16,464.28.

So what's the Gameplan

Imagine you're braver than a rat attacking a cobra. You decide to DCA $500 every week into Bitcoin during its "Self-Discovery Year" of 2022.

Crunching Numbers While Holding Back on Tears

Yada yada, you know the drill. Let’s see some numbers:

Total Investment: $27,500 (DCA $500 weekly)
Total Bitcoin Hoarded: About 0.6975 BTC
Value of Your Bitcoin Stash at Week 55: $11,484.98 (Bitcoin price at week 55: $16,464.28)
Percentage Loss on Your Investment: ~58.24% That might sting, but remember, you're still in the game, partner!
Percentage Loss in Bitcoin's Price at same time: ~74.46% I know, I know. Take a moment.

2023 Plot Twist

Hold your horses! As of 2023, Bitcoin is shining brighter at $26,555. Let's run the numbers again.

Value of 0.6975 BTC in 2023: A sizzling $18,527.21
Gain from the end of 2022 to 2023: About 61.32%
Overall percentage loss from initial investment: Now you're down by just -32.63%

The Moral of the Story

Well, you may have lost some, but thanks to our friend DCA, you lost significantly less than if you had gone all-in during week 1. That 74.46% loss got softened down to a 58.24% loss, and you've got yourself some Bitcoin that's seen the depths of the market and lived to tell the tale.

So, there you have it. DCA might not have turned you into a crypto king, but it sure as hell saved you from living in the New York subway. So next time someone chortles at your DCA strategy, tip your hat, because you're playing the long game.

The bears may have won the battle, but the war? Oh the war is still on. See you in 2025.

Submitted September 17, 2023 at 06:15PM by farmbotic https://bit.ly/3Rqw15J

What are the tangible things we can do help more people understand bitcoin?

I continue to be amazed at how few people truly understand the bitcoin and its value to humanity. I've been thinking what can I do more other than just DCA and running a node. Let people know that you believe in bitcoin so that more people think it is normalEncourage friends and family to study bitcoin. (I never ask them to buy bitcoin and I ask them to study)Ask local library to carry bitcoin related booksIf you are a student, ask your college to offer bitcoin classes.Anything other tangible things we can do to potentially get more people to understand bitcoin? Staying at this subreddit to read is fun but I want to live in a world where bitcoin succeeds and wants to see what I can do to increase the probability of bitcoin succeeding. via /r/Bitcoin https://bit.ly/44USPhc