People who are cheering for a bitcoin pump - are y’all like … stacked like kings or what? Early adopters?

Sometimes it feels like I’m the only one cheering for a mega dump 🤣

Hot tip - Do eat well, but your identity does not need to be tied to your diet.

Doctor says I have too much iron in my blood and should eat less meat

Gfy you ain't the boss of me 🐸

BITCOIN IN ADDRESSES IS SCARCE, "BITCOIN" ON EXCHANGES IS INFINITE.

I want to talk about the effects of #Bitcoin price suppression logically, but use extreme numbers to illustrate some obvious points...

Suppose price was suppressed to $1 today using whatever methods available. What would happen is that all available bitcoin would very quickly be bought, then people would want more, and some who bought might sell for $2, and so on, and up we go.

But why can't price be suppressed back to $1 forever?

First consider the methods...

They all involve either selling bitcoin that doesn't exist to people who think they getting bitcoin (ETFs or long contracts in various forms, that pay bitcoin or cash in the future at settlement - some never settle),

or

getting people with bitcoin to buy contacts in exchange for their bitcoin (the contracts being cash arbitrage profitable for the bitcoin holder). These people anticipate buying bitcoin back later with immediate dollar profits.

Ultimately bitcoin always flows to people who want it more - so even though some people might sell some bitcoin in exchange for a contract, over time the bitcoin they relinquish goes to people who are less inclined to.

Also, the people that are buying real bitcoin eventually get all the available bitcoin, and the people who are buying paper bitcoin lose all their dollars in exchange for infinite quantities of bitcoin (they're getting scammed).

What happens when the people buying real bitcoin buy up all the $1 bitcoin and there is none left?

Either

1)

The exchanges acting badly abolish withdrawals (remember Celucius "HODL" mode? Or was that BlockFi?), with the honest ones having zero trading volume, and users with locked funds can continue to buy and sell fake bitcoin at the artificial price, but never self custody. They might even be able to trade p2p with this easy money (easy = not scarce and "easy" to produce, ie fiat), or they'd make fake unbacked derivatives (wrapped versions with no evidence of backing or ability to redeem). This will birth an ALTERNATIVE MARKET with real bitcoin which can only be exchanged by p2p trade directly with bitcoiners who actually have bitcoin, or via decentralised exchanges. The price of bitcoin will then find its true form, decoupled from paper bitcoin.

Or

They go bankrupt

Or

The price goes back up to a level where bitcoiners release some bitcoin back to the market, sufficient to allow fractional reserve to continue a LITTLE longer but at a higher price - THIS is what I think is happening, which is why bitcoin isn't $1 and also not $1M.

The way the manipulation ends is by waiting. Bitcoin always flows to people who want to hold it harder.

The price gets to $1M when most of the people who wouldn't sell at $1M (me include) own most of the bitcoin. Then up from there.

I don't know how long it takes, but the lower the price, the faster the 1M+ holders get all the bitcoin. That is the logic I can't find a flaw in

BITCOIN IN ADDRESSES IS SCARCE, "BITCOIN" ON EXCHANGES IS INFINITE.

I want to talk about the effects of #Bitcoin price suppression logically, but use extreme numbers to illustrate some obvious points...

Suppose price was suppressed to $1 today using whatever methods available. What would happen is that all available bitcoin would very quickly be bought, then people would want more, and some who bought might sell for $2, and so on, and up we go.

But why can't price be suppressed back to $1 forever?

First consider the methods...

They all involve either selling bitcoin that doesn't exist to people who think they getting bitcoin (ETFs or long contracts in various forms, that pay bitcoin or cash in the future at settlement - some never settle),

or

getting people with bitcoin to buy contacts in exchange for their bitcoin (the contracts being cash arbitrage profitable for the bitcoin holder). These people anticipate buying bitcoin back later with immediate dollar profits.

Ultimately bitcoin always flows to people who want it more - so even though some people might sell some bitcoin in exchange for a contract, over time the bitcoin they relinquish goes to people who are less inclined to.

Also, the people that are buying real bitcoin eventually get all the available bitcoin, and the people who are buying paper bitcoin lose all their dollars in exchange for infinite quantities of bitcoin (they're getting scammed).

What happens when the people buying real bitcoin buy up all the $1 bitcoin and there is none left?

Either

1)

The exchanges acting badly abolish withdrawals (remember Celucius "HODL" mode? Or was that BlockFi?), with the honest ones having zero trading volume, and users with locked funds can continue to buy and sell fake bitcoin at the artificial price, but never self custody. They might even be able to trade p2p with this easy money (easy = not scarce and "easy" to produce, ie fiat), or they'd make fake unbacked derivatives (wrapped versions with no evidence of backing or ability to redeem). This will birth an ALTERNATIVE MARKET with real bitcoin which can only be exchanged by p2p trade directly with bitcoiners who actually have bitcoin, or via decentralised exchanges. The price of bitcoin will then find its true form, decoupled from paper bitcoin.

Or

They go bankrupt

Or

The price goes back up to a level where bitcoiners release some bitcoin back to the market, sufficient to allow fractional reserve to continue a LITTLE longer but at a higher price - THIS is what I think is happening, which is why bitcoin isn't $1 and also not $1M.

The way the manipulation ends is by waiting. Bitcoin always flows to people who want to hold it harder.

The price gets to $1M when most of the people who wouldn't sell at $1M (me include) own most of the bitcoin. Then up from there.

I don't know how long it takes, but the lower the price, the faster the 1M+ holders get all the bitcoin. That is the logic I can't find a flaw in

Wear merino wool for a couple weeks, then put on some polyester clothing, and you're body is going to freak out.

Fair. Me too. Empathy. Humans lose a lot of our communication skills online. Tone, body language etc. thanks 🙏 for that reminder.

We agree that men are still exploiting women on most of what you said.

There is a group of humanity who do enjoy being sex workers. They shouldn’t be shamed for choosing that profession.

Prostitution has always existed. It’s just more **seen** on the public stage now.

Bluntly: some women (and men) prefer sex work & they don’t feel they are being exploited. Though in my real life experience, they are very rare.

Maybe you lack reading comprehension. Read what I wrote. 😂

Why not?

This is what I mean about men being big mads that women have more control over their lives now.

Patriarchy takes on all things.

Men exploited women as whores for years. Made the bank. Now that women are choosing to do it their self it’s perceived as insanity to those who don’t know women’s history. Not shaming anyone for ignorance. It’s a choice to not understand women’s rights.

Pass the ERA. Is that not a choice for GIFs? LMFAO 😂

GM. When I reach heaven I'm lookin for Selah.

Stairway to heaven 😘

Did you turn it off and on again?

Guess the title of this movie 😉

#movies #420 #zap #weed #weedstr

To understand what a Bitcoin node does, it's important to understand that the essence of a node is the PERSON running their chosen code/rules, not just the software/hardware.

Run a node so that...

1. You can maximise privacy. Your wallet needs to connect to a node. If it doesn't need to rely on someone else's copy of the timechain data, you won't divulge your IP (your location!) nor you addresses (and their balances). It's potentially dangerous from attackers, but particular surveillance who WILL co-operate with your local ruler when it's confiscation time during the inevitable collapse of fiat.

2. You can verify if you have been paid - like checking a gold payment is real by melting it down. A bitcoin payment must register on your copy of the timechain.

3. Defend the rules of your money if there is a contentious fork - no one can force you to run Bitcoin Larry Fink's Vision, for example.

4. Be one of many cockroaches that need to be destroyed to wipe out the UTXO set (who owns what). Note even that doesn't kill Bitcoin, Bitcoin is an idea. They'd have to kill all the Bitcoiners.

5. Help someone else run a node, or provide the infrastructure so someone else can trust you and connect to your node. Remember, being a human node is not the power to run the software but the power to choose the right software to connect to - you can be that option for people, especially those you orange pill, instead of letting them connect to a random node.

6. Be super cool, and it gives you a great appreciation of the power of Bitcoin. You’ll probably end up buying more, and accumulating more girlfriends.

armantheparman.com/why-should-you…

open.spotify.com/episode/0p1m4c…

Running a node is a essential skill to learn, and every one of my students is running one.

This.

Starting a Self Managed Super Fund (smsf) this week in Australia. Any advice for holding Bitcoin through an Australian smsf is greatly welcomed. I will provide what I find out as I work through the process…I assume it’s going to be difficult knowing our banks. #investing #smsf #AUStrch #forthekids

Who has sold their property to buy more bitcoin and now rents a home? #propertybubble