Massive deleveraging
I don't yet understand the details but I am sure that the finite properties of Bitcoin have to do with how it destroys leverage
What's impressive is after the outflows in ETFs, the deleveraging in DTCs, and the retail's chickening out - the price stays above 90k$!
From the impatient to the patient.
From the weak hands to the strong hands.
To the only truth in financial markets: bull and bears get paid - pigs get slaughtered
Just to be clear
The longer it takes, the more retarded the meltup is going to be
Load up the tanks, we're going interstellar
Yeah that's what I meant 😂 makes you completely normal
Nostr Series # 1 “The State Of Exception”
https://blossom.primal.net/612b2259f3e8ece0aae3e5353d42ae32ce4e2ca54fbb646315187f8ff75822ef.mov
I feel an inflection
The regime is most fragile when it seems impregnable
Nostr Series # 1 “The State Of Exception”
https://blossom.primal.net/612b2259f3e8ece0aae3e5353d42ae32ce4e2ca54fbb646315187f8ff75822ef.mov
Lol
Stop pretending to be adhd, you're completely normal
AI is bad at extrapolation, it always will be - it will never think.
It is getting better at interpolation, where it shines, because of the massive amount of training data and massive compute to refine the models.
Furthermore it is already showing signs of bending at this scale, producing slop, republishing it, and eating it back up. Results may even degrade with time.
PSA: be careful with weight lifting, you are focusing on volume, wich shortens, hardens, and thickens your muscles around the mid-range of movement. As you age this gets worse and will limit your range of movement and make it painful.
Bitcoin treasury corps are leveraged long bitcoin trades
The leverage comes from credit that comes from the money printer
So... Leverage that can't blow up... Unless.... The money printer blows up... And it will...
Think about it, do think about it
Those of you in the old school who believe there won't be a bitcoin bubble simply have not understood the new mathematics of Wall Street suits, or you did not care enough to try. Bubbles are mathematically certain in this new paradigm. So are corrections and all else
"No worries guise, it will just keep slowly going up now that the big increase is behind us"
Agree
To me one challenge has been to face it because it hides behind anger
US's main business is selling $s. Stablecoin issuers buy them.
I mean, it's almost as if these dudes saying that shit is in itself a guarantee that the bear will come.
Maybe, the premium of the treasury companies is going to collapse, with a flight to safety into bitcoin.
But after that, for sure, and the longer it takes the worse, devastating bear market
The amount of mining rewards doesn't matter most of the time. But at the bottom and the top, they are the only thing that matters. In a bull, as price goes up, mining rewards equal an increasing chunk of the new money flow until they crowd it out:
100k$ / BTC = 16.5B$ / year
1M$ / BTC = 165B$ / year
10M$ / BTC = 1.65T / year
MSTR and ETFs got roughly 10% of supply @100B. At 1M$/BTC they would've only absorbed the block subsidy
See ? Whatever the mining subsidy, it will eventually suck up any amount of money thrown at it.
This cycle there are more delays and less liquidity for the new money. Imagine selling a house for Bitcoin: takes a big amount of fomo and can take many months... Approval for banks, states etc is slow...
The longer the price remains low the less the new money flow will be wasted on the weak hands, rendered weaker by the big items being traded for their Bitcoin.
The blow-off top may arrive later... But when sellers finally get exhausted, the later, the more brutal the bull will be.