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It signals that miners have exhausted their liquidity (cash) and are forced to sell to stay operational, even at a loss. If #bitcoin was at a fair price miners would NEVER have to sell. If they are all selling simultaneously than that means that they have been holding on as long as they could and have now depleted their reserves. Especially observing the magnitude of the sale, this is IMPOSSIBLE outside of market manipulation!

However, keep in mind that this happening is NOT a sign of bitcoin #mooning soon. From here btc can go in any direction. What is clear is that the whales (manipulators) have reserves FAR outstripping that of regular Bitcoin users and miners (even when added all together) and without significant global mass adaptation there is little resistance to these ongoing manipulations.

At this point we need a Marshal-Plan level of mass adaptation of crypto to counter-balance the creeping tyranny that is engulfing our planet and it is simply not taking place…. (Efforts such as those by #elsalvador are cute, but won’t ‘cut it’ at this point any more, too late…)

Hans Karlsborn 2y ago

These whales, who do you think they are? Nation states? Financial institutions? And what is their objective?

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Discussion

Botmaster General 2y ago

Im sure you can figure this out yourself: whose power is most threatened by the emergence of #crytpocurrency? That’s your answer.

- What is the best way to stop mass adaptation? Keep the price volatile.

- How do you do this? By buying #bitcoin slowly over time and then dumping everything at once, triggering big losses for regular investors.

-Who can afford to do this? The Enemy.

Hans Karlsborn 2y ago

Do you think this is a feasable attack vector in the long run? When large quantities of bitcoin is bought by companies, ETFs etc and the price rises and more people get in, DESPITE the volatility? I doubt it.

Botmaster General 2y ago

So far it has been exceedingly successful. The existence of “stablecoins” is one piece of evidence for that. The other is that I still had to use fiat when buying groceries today. But more importantly: right now it is impossible to touch down in a new country, find a job as a dishwasher, and earn a living in #bitcoin. Something that was common in America and around the world when money was still gold-backed and “immigration restrictions” didn’t exist.

These are three pillars on which the success of #bitcoin can be measured. We’ve accomplished none.