As usual there won't be knights on white horses to come and save us, sorry.

The fact we got #Bitcoin, given for absolutely free while the inventor was smart enough and unselfish enough to not just step aside but also leave an fortune behind, is nothing but a miracle.

But most likely there it will stop.

The rest is up to US.

The full control of #Bitcoin is not that hard to envision.

They just have to buy enough or persuade enough to give up control (put their coins on exchanges, lend them out everything but NOT owning their PrivateKeys).

Since they have unlimited fiat they can simply buy as long as we accept Fiat.

This is the scary part !

Almost everyone is willing to put in their labor in exchange for a currency they can just print !

So those not willing to exchange their #Bitcoin fort it must be a bit 'strange'.

They are the ones that realize what garbage Fiat actually is and how corrupt the system is.

And this is the ongoing battle they are fighting.

They are preserving the #Bitcoin system from being taken over by big money.

While at the same time being laughed at by most for believing in it.

That is why there is such a strong connection between the few who realize this.

And that is also the biggest risk, since not enough people understand this.

Not enough people realizing what is at stake.

Not enough people joining.

IS the biggest risk for #Bitcoin.

I have been looking at this data regularly.

First, these #Bitcoins are not that readily avaible, they are owned by customers.

To what extent an exchange wants or needs to backup their customer coins I don't know, but they can't be all sold.

The fact this number is declining is never the less an important one.

The core signal is that less people store their coins on an exchange and thus take self custody of their coin.

One of the real supply sources is coins available on OTC.

This data is not fully transparent.

All, or most, large buys take place OTC.

If that supply runs dry we will see a more clear/honest price discovery since buyers would need to go on exchanges to buy.

For my that is the largest and most liquid supply, those willing to sell on exchanges when the price goes up.

For now the balance between large buys OTC and exchange flows is not that easy to fully grasp.

For sure some fiddling is going on ?

BTC will be/is a layered system.

On chain high value transactions high fees where ownership/settlement is important.

On lower chains, like LN now, smaller transaction will be done fast & cheap.

If needed this system will evolve.

If you are interested in the mempool, this link of Jochen is one I like:

https://test.jochen-hoenicke.de/queue/#BTC%20(default),1w,count

For what fees are needed I use:

https://bitcoinfees.net/

But Jochems site can give one some more info on the state and history of the mempool and fees used.

If something would break, I think the mempool will be one of the first things that will show it (increae in transaction requests so mempool exploding).

#Bitcoin

Uhmmm, IOU's to be correctly 😇

I wonder how these ETF's buy/sell #Bitcoin.

Strategy buy's OTC, and possibly can give some heads up and negotiate price to some extent ?

ETF's react to customers.

Is there a timeframe they have to buy/sell by law to follow customer buying/selling ?

Are OTC fast enough ?

What if OTC does not have supply, will the ETF buy on exchanges ?

Been given this some thoughts.

I think people are not thought to think for themselves but rather trust others.

Combined with a strong herd mentality.

Who is going to doubt the fiat system that has been here for 'ever' and is used by 'everyone' ?

Fiat can't be that bad, everybody is working for it, saving in it, paying with it....

Even when presented some facts most can't make the step how bad it is...

Only those who went down that road are going to give that strange thing called #Bitcoin a second thought.

Most only hear the usual 'trusted' people say #Bitcoin is bad, used by criminals, etc etc.

It is changing, but slowly.

And thanks to the Legarde types who can only overdo it, more people start to think for themselves.

People can be blind and way to good of beliefs, but at some point inflation is gonne hurt, taxing most of their income is noticed, insane policies will make people start thinking.

I'm everyday surprised how much it takes to awaken them, but slowly it is happening...

That is too easy 😇

It is cheap if it is one Million.

After reaching the Market capitalization of Gold it won't stop either, but the cheap part will be less.....

He is too smart to not understand #Bitcoin.

He is using it to get more attention to his business.

So far not a problem....

But by bringing #Bitcoin as something less than Gold, is hurting his customers (put aside what you think, check performance of both).

History will mot be kind on him.

Pitty because besides #Bitcoin he has valid points.

I think there is a bit too much at stake to 'just' call it "fun to see it actually happen".

But it is a good start 😄

Why would anyone accept a system that makes it possible to rob them again and is back to the chains of slavery ?

It is not about if that is possible, we are already in such system, it is about if we accept it !

Not you keys not your coins !

Second, third and all other layers should either make ownership possible or have some other build in mechanism that makes creating more impossible.

The only way to stop being exploited, abused, milked like a cow is NOT accepting it.

Low time preference noise.

#Bitcoin is the Money...

I'm optimistic, but world peace, already at this low level of #Bitcoin adoption ?

I don't think so... 😇

First phase:

What ?

Second phase:

It is a scam.

Third phase:

Number go up, digital gold, I'm gonne get rich.

Fourth phase:

Sound money Hard capped, Decentralized & Permissionless payment system.

Last phase:

Our first and probably only shot at freedom without the mandatory violence.

Protector against politicians and fiat systems going/gone rogue, this hill I will die on.

#BITCOIN

Yes, and ONLY so because Gold was here before #Bitcoin was...

Insurance against politicians and fiat systems gone rogue...

Deserved recognition....

Another thing that $Bitcoin doesn't need 😇

Would be some, long due, reserved recognition for Satoshi though !

One of my last questions, how can I show some respect for this HERO ?

To be honest I just did this.

In my jurisdiction this means stop working, pension is an obligation and taken care of on company level.

Once you start calculating, than take into account known and unknown inflation, it is just to next robbing scheme....

There is just no end to the ways they set you up and milk you dry.

It is really infuriating..

#Bitcoin only..

Great, enjoy life, make memories !

Thanks for sharing.

On the financial part...

I understand most reasoning.

But I came to a point I hate the Governments, Fiat, the System, so much I can't by any sane means support it any more.

And not doing so is hard.

I hate that "you own nothing and be happy" but to some extent that IS needed to starve the beast.

If you buy something you pay VAT, if you own a house you pay tax etc etc.

And by paying them you give them the means to control, abuse you...

We are paying them the money they use to suppress us...

And I love nice stuff.

I put aside a funny #Bitcoin amount some 7 years ago with the funny idea this will be a saving account for my dream car.

It became twice as expensive since then, but I can buy a new one from that little saving I set aside...

To come to the conclusion I still love that car but no fu.. way I'm going to spend so much and knowing a large part of it will go to government....

#Bitcoin really changes you, or perhaps I should say shows you things you have not seen so clearly before.

Now I have some financial independence I'm more thinking about how can I use it to make this a better place, help others ?

That scarf can warm a whole eskimo village 🥶