Hal Finney
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Posts posted by Hal Finney
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What a missed opportunity, nocoiners
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Don't expect anything exciting. This was all mopped up long ago. I don't believe authorities ever searched the island, or were slow to do so. That is where the juicy stuff probably was.
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3 hours ago, bernorange said:
Double whammy hit BTC today - (all) markets pricing in rate cut skepticism (folks finally realizing earlier euphoria over Fed pivot might have been overstated) and tweets casting doubt on SEC spot BTC ETF approval.
You had to figure degens levering up before approval of ETF would get washed out somehow.
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25 minutes ago, nolongerU2horn said:
whoopsie
meh. It happens. Can't go up in a straight line for the next two years.
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1 hour ago, FirstTimeCaller said:
What happens if Saudi Arabia or some other entity decides to buy and hold as part of its national wealth fund? That seems plausible to me.
There’s a good chance that a country like Saudi Arabia does come out as BTC holder during this bull run. They could be buying on the open market. Or they could be dipping their toes into mining. The oil and gas industry as a whole is becoming more involved in bitcoin mining, why wouldn’t the larger producing countries do the same?
The other real wildcard is I’d be shocked if Russia is not mining or purchasing bitcoin already.
1 hour ago, FirstTimeCaller said:It also seems clear that its use case is not as a currency but as a store of value. So is the best case scenario that it gets close to the market cap of gold? In that case, it's about 14x today's prices (assuming gold demand wasn't cannibalized by BTC). But would it ever get near gold? After all, you lose your key and the BTC is gone forever. With gold, at least it's still somewhere even if you don't actually hold it.
I think gold market cap is a good medium term target. Eventually I could see it taking some flows away from assets previously deemed to be risk free.
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156% for the year. Not bad.
If you look at the last cycle in 2020 it then went up 301%. I'd take that in 2024. It would put us up around $170k.
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9 hours ago, po elvis said:
For those that have never been in the cloak room, this response is a perfect encapsulation of the place. I don't think AI could have done it better.
You fucking traitor
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On 12/26/2023 at 8:54 PM, Pancho said:
I got banned by Katy many times for pointing out hypocrisy by posters and their leanings.
Whoa so you were GR before GR. A bizarro version, if you will
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As one of the comments notes, there will be “hatebuyers”. People that can’t deny/resist the performance and buy because of the ease of access.
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19 hours ago, StassneyHorn said:
Seriously, answer where you find these links.
Gold bug community
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What’s the hold up here?
We need to be snuffing this out. This is global hegemon/reserve currency 101. Controlling the seas, protecting global trade. We’re obligated to blow these fuckers up.
If nobody wants to join us, then they can watch.
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10 hours ago, Fudge Nuggets said:
You underestimate my income… a lot.
Settle down, Rocko
Yawn
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On 12/21/2023 at 3:20 PM, Ghost of LL said:
I don't know the actual cost. But there's a cost of maintaining the physical plant of the reserve. And then there's the cost of acquiring the petroleum.
Without going CR, let’s just say we spend plenty of money on a lot more frivolous or suspect shit than storage of the world’s most important commodity.
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Another sign bears are in for a rough couple of years.
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Looks like Fudgy came through to defend the honor of one of the most disingenuous politicians we have. Lolllll
2 hours ago, Fudge Nuggets said:Pretty much
Gonna be a long bull market for you. The significant number of market participants is going to increase dramatically.
And while the etf is not the ideal way to hold BTC, I think this will hold true.
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On 12/18/2023 at 6:40 PM, Ghost of LL said:
justify the costs of the SPR.
what are the costs?
On 12/20/2023 at 9:22 AM, Storm the Field said:Oh the vibes they are a changin'...
Best economic sentiment readings in 6 months.
On 12/18/2023 at 7:25 PM, Neonmoon said:The difference being Nixon engineered the rate cuts by instructing his buddy Burns to lower them in 1972 for political reasons (get elected) and had nothing to do with inflation. (there are recorded tapes of it). I doubt Biden called Powell up and asked for rate cuts before the election but I’m sure it will seem that way to certain people.
Raging economy, but rate cuts already being priced in for 2024 off of Powell's change in tone. Hard not to see a political angle.
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58 minutes ago, Captainant said:
lulz are yall just reposting shit from the twitter replies on GRUhorn's tweets? I swear, there's a weird hivemind of rhetoric from the crypto space
what are you going about? what is the hivemind saying?
1 hour ago, bernorange said:Warren is a dishonest actor.
yep.
Champion of the little guy, pushing legislation written by bankers. lol
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The legislative fight against crypto is heating up, led by a predictable protagonist. She's trying to push for her new anti-crypto bill. Here she complains about crypto orgs employing former government officials.
She's the Apex Karen. A total fraud.
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On 12/3/2023 at 4:44 PM, Goliad said:
Nocoiners will cope and seethe instead of trying to figure out what they’re missing, to their detriment.
1 hour ago, Captainant said:Yeah the fresh injection of new money will definitely keep the music going for another cycle or two. North Korea is one of the biggest winners with the potential BTC price moonshot
Don’t forget Russia, Hamas, Iran and so on!
Yawn
Never mind that USD cash money homie supports the most illicit activity around the world.
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Pretty bullish on the price after watching this. $1T in ETFs globally. If 1% of that is passively allocated into BTC etfs that’s $100B slowly over the course of a year. At the current price of 40k that’s 2.5 million BTC. There’s not that many sellers out there. Price will have to go substantially higher.
ETF is so bullish for the price that I wonder how they can let it happen, honestly. Still possibility of some fuckery.
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New accounting rules for Bitcoin. Seems important.
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In the words of the great Winston Wolf, let’s no go sucking each other’s dicks just yet.
Powell changes signaling, market now pricing in rate cuts in 2024.
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1 hour ago, Captainant said:
I just don't understand the value proposition of a trustless and decentralized ledger system for supply chain management. There are not any architectural benefits to adding layers of complexity and abstraction to supply chain management - it's ultimately a matter of information assurance and access management. Both of which are substantively handled by existing systems that are far more efficient and easier to implement - while fully guaranteeing idempotent, tamper-proof, and accessible management of the information.
I have not yet heard a compelling technical argument for improvement by way of integrating blockchain into any record keeping system - especially ones that are already centralized by business and/or regulatory necessity.
For once, we agree.
21 hours ago, bernorange said:Ethereum appears to have some serious issues to solve:
More (long):
https://www.coindesk.com/tech/2023/12/06/ethereums-censorship-problem-is-getting-worse/
Proof of Stake is a poor path to choose if you want decentralization and censorship resistance. All in the name of being environmentally friendly or "green". The bad news is people that use that criticism against BTC for example don't really GAF about that and will find something else to use against Eth and its proponents. You're really better off not caving an inch to the people resisting.
Cryptocurrencies (Bitcoin, Ethereum, Litecoin, etc.)
in 6th Street Journal
Posted
Hey I think you can bag groceries at HEB at 15, or work at Schlitterbahn or whatever.
The other is a bad joke (CR MAN?!)
Doesn't change the fact that an opportunity has been missed by many.