Discussion
The real lucky ones will be those who buy after these bank failures make Tether crash and take BTC's price to sub 5k
[To clarify I think you’re dead wrong] but by what mechanism do you think Tether failing takes Bitcoin down 80%?
same reason why tether helped BTC reach 69k
And what’s that?
it's the largest stablecoin
And?
that's reason enough lol
No. You haven’t presented an economic mechanism which would intertwine tether and Bitcoin price.
The one all the Buttcoiners go on about is the theoretical possibility that tether is printed out of nowhere and therefore props up Bitcoins price, but there are a few problems with that logic.
1. Even fake dollars used to buy Bitcoin still represent real demand
2. There is no evidence of this occurring
3. Tether only makes up between 5% and 10% of BTC trading volume at any one time
And this is only logic to support it being manipulated up. How would a tether crash manipulate it down? If tether depegs, people will be selling tether, but nobody would be accepting it as a trade for their Bitcoins.
I really do hope you are right! I just don't believe it. Time will tell.
Time will tell indeed
All I’ll say is that while we’d all like an opportunity to buy Bitcoin at 5k, it’s extremely greedy. There is greed to the upside which blinds our judgement (100k by 2021) and there is greed to the downside which blinds our judgement (5k when Tether crashes)
It’s missing a slide where all your friends think you are silly and you lay on the bed listening to Winston Phillips “Hold on” on repeat just trying to make to the next day…whoops, I think I shared too much.
Yep, luck has nothing to do with it. My first crash happend just 2 days after my first purchase and I suffered a 90% correction that lasted 2 years. I held because I understood what bitcoin was built to do.
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THE NOSTR REPORT
DEFAULTS
Mar 15, 2023
Block Height: 780,972
Moscow Time: 40:71 ⚡/ $
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🎙️Quote of the Day🎙️
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“I need to lay down, too much bullishness in one day for me.”
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🚨Headline Nostr News🚨
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Offering liquidity to Credit Suisse in this case can be seen as a silent default. Who steps in and why is a messy story. ZeroHedge has the broadest perspective we’ve seen so far.
https://www.zerohedge.com/markets/credit-suisse-sparks-global-de-risking-after-top-investor-bails
#[2] 🎯 target 🎯 of next Zapathon announced - and it’s the Nostrica organizers! Join the Zapathon at 5pm EDT Thur and Fri. ⚡🏃♀️⚡🏃⚡
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#[4] Watch a demo of the nearly-finished Nostr Market extension for LNbits! Ben Arc calls it "THE most profound application for Nostr." 🎣
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#[6] Looks like image uploads in Damus are finally happening 👀
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#[8] Nos2x becomes the first extension with nip26 support! Check out this video where Pablo shows us a demo of what Nip-26 (delegated signing) will look like in the wild. NIP-26 will enable signing events with one set of keys on behalf of a different set of keys. Currently it is only supported by a few clients including Snort and Gossip. 🔑🗝️🔐🗝️🔑 https://nostr.build/av/nostr.build_22f8d32b5e06fe85777da0923651c6d6427a88cd305081c0b79703bd3164da53.mp4
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#[10]
#NostrHack 👩💻💻👨💻
Check out the #[12] #NostrHack hackathon, where they currently have 37 projects and 124 participants! It's still possible to register!
List of projects: https://makers.bolt.fun/tournaments/2/projects
Hackathon Details: https://makers.bolt.fun/tournaments/2
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#[15] shares a new short animated film by Human Rights Foundation about how activists are using Bitcoin to fight back against monetary colonialism in West and Central Africa. 🌍
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🏝️Nostrica Update🏝️
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#[17] shares that #[18] made some gorgeous #Nostrica swag for in-person attendees! 🏝️👕🏝️
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#[21] calls for relay operators interested in participating in a panel at #Nostrica. If you have questions for relay operators, please let Derek know so he can include them on his panel! 🎙️🎤
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#[24] shares pics of the venue getting set up at #Nostrica 🌴🥥
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#[27] nostri.chat on Nostrica.com - video demo. 💬
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💻nostr Tech💻
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#[29] Cashu.me wallet now shows total balance across all mints along with balance of the active mint. 🏯
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#[31] New update to LNURLP extension in LNbits allows you to set a lightning address on every LNURLP link. 📬
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#[33] De-Googled F-Droid flavor of Amethyst client. 🟪
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#[35] shares a method for bumping the fee on a lightning channel opening/closing transaction in case yours is stuck pending in the mempool. ⚡💡⚡
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#[37] Nostrium: Medium over Nostr. https://read.nostr.com/
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#[39] Nostryfied offers a Broadcast & Export Service that allows you to Download a Copy of your Data & when you use this service. All of your data will also be Broadcasted to Major Relays on the network. 🛰️📡🛰️
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⚡nostr Business⚡
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The Federal Reserve is set to launch their instant payment service known as “FedNow” in July of this year. Is this a stepping stone toward an eventual CBDC in the US?
https://www.cnbc.com/amp/2023/03/15/long-awaited-fed-digital-payment-system-to-launch-in-july.html
#[41] Lightning Dev Kit (LDK) 🗺️ roadmap 🗺️ is out!
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#[43] shares a list of essential reading material for understanding Bitcoin. 📜
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🔥🔥Meme of the Day🔥🔥
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"You're so lucky you got in under $20k"
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Stay Classy Nostr.
That reminds me to buy more Bitcoin.
Right.. I don't want to talk about my cost basis.