The rich stay rich by owning assets instead of fiat.
Joined 14 December 2022 · 185 posts
120 KT
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The rich stay rich by owning assets instead of fiat.
The market may not look great right now, but with U.S. inflation near 7% I can't really justify unloading much crypto. I'm sure that rate will come down, but it's still a screaming buy signal for assets that can't be printed at will.
Lightning is not Bitcoin. edit: I should also add that SmartBCH is not BCH.
Bloodbath in crypto today. Thinking it might be a rather black Monday for stocks...
Wow!
Good stuff.
This is strange. 1) What the hell happened on September 19th? Zcash 'value sent' drops to almost nothing and BCH value sent 10x's simultaneously? Why? 2) Zcash price then moves up significantly. 3) BCH experiences the same sort of dramatic drop in 'value sent' on Nov 17-19 and then price starts moving higher.. I've seen people commenting about certain CEX's running out of certain coins and suspending withdrawals. I wonder what's coming next?
My guess 2 weeks ago was a 20% pullback.. we could be headed higher from here 🙃 we'll see #BTC
Litecoin seriously outperforming BCH. But why?
WheatCoin and OatCoin are mooning. https://tradingeconomics.com/commodity/wheat https://tradingeconomics.com/commodity/oat We're gonna have to eat our bitcoins.
I feel like we're about to see a ~20% shakeout in BTC.
There's some serious correlation between what treasury yields decide to do and what happens to bitcoin (and ultimately the entire crypto market). In March we saw a peak in rates AND in BTC. Then the summer bottom in rates clearly correlated with the bottom in BTC. Then this week the 10y decided to stall out around 1.65% and start heading lower and bitcoin is following. I had heard some people say that this bull market would be drawn out longer than usual and I wasn't onboard with that idea, but I can see now how it could be. It's gonna get interesting. We need to see what the Fed does in November, but with other central banks already raising rates I think they'll be forced to let rates rise a bit. Just remember that nothing pops asset bubbles like peaking yields. There's always a point where people rush for the exits (into the safety bonds).
I believe this one button would change everything. BCH would finally stand out and attract a lot of attention. A wallet that ONLY transacts in dollar-locked BCH might be even better. https://twitter.com/wisewizzz/status/1410977024374710281/photo/1
LOL!
Easy money consorts with easy virtue.
Sounds like signing up for a crypto exchange account..

BCH up ~5% today but...
Looks like major news. Paxos is PayPal's crypto integrator.
This might sound bad, but I'd take it as just one more endorsement of crypto by Russia (a large energy exporter). This is good to see.
GBTC (Grayscale Bitcoin Trust) now at a 20% discount. BCHG (Grayscale Bitcoin Cash Trust) now at a 20% discount. ETCG (Grayscale ETH Classic Trust) now at a 40% discount! https://ycharts.com/companies/GBTC/discount_or_premium_to_nav https://decrypt.co/65834/grayscale-investor-rips-bitcoin-trust-abysmal-discount Assuming these return to a premium in the coming months.. I'd take that as another market top signal.
As long as central banking exists the madness in asset markets will continue. They can write all the laws they want, but the only thing that will keep Wall Street in check is market-determined interest rates. When real yields are negative we are almost forced to lever up.
Noise needs to monetize, but do it right. I would pay for a reasonable monthly subscription. Services like Twitter, Facebook, and Reddit are constantly cramming junk into my feed without any option to turn it off. I understand they want money, but giving people no subscription option with the ability to turn off the junk is just not the way. Maybe once BCH can do onchain dollar denominated subscription payments.. that would be so cool. Especially if it was something low like 25cents/month. It's something Visa can't afford to offer, but crypto can. Would also be amazing to be able to hire people to act as mods for chambers. If I could hire cheap labor and pay them monthly and automatically to keep a chamber clean... or maybe if I could just automatically pay monthly for the maintenance of a chamber.. I wanted to post this in the NoiseFeatures chamber, but it's been overrun with spam so I unsubbed.
The masses are coming... to throw their money away on pictures of rocks and coins with cute doggy mascots.

Have to admit this is pretty neat functionality.. and, hey, free money lol #SmartBCH


Vitalik speaking the truth.
I'm thinking this will coincide with the beginning of the peak in this particular cycle. When my friends and neighbors are buying pictures of rocks I will be exiting.
There really aren't enough warnings regarding the centralized nature of SmartBCH. People need to be aware that Coinflex could, at any time, decide to run away with all "locked" BCH. Users should not move any significant funds to SmartBCH until the system becomes trustless (which may never happen).
r/btc has become r/TetherConspiracy
Crypto market going up and global equity markets going down. I don't believe these will stay disconnected. One of them is wrong. But which one?
Nice to see BCH doing better than every coin above it today. It's been a long time...