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surlybevo

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Major ceilings at 70K/4K for BTC and ETH. 70K was briefly passed (new all time high) before the entire market fell down a couple of hours ago. Looks to be rebuilding steam. 

Makes me think that if these two resistance amounts are surpassed, we could see a major bump upwards. Of course I'm reading into the data what I want to see.

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On 3/7/2024 at 12:33 PM, Cum Rocket said:

Womp womp. 
 

Still, with the large bitcoin community in Austin and the larger mining community across the state, it would seem to be a natural fit. 

Problem is, that "mining community" exists just to suck up free corporate welfare bucks from our regulatory captured state

https://www.texasmonthly.com/news-politics/texas-crypto-miners-lawsuit/

Quote

When it is very hot or very cold, ERCOT pays large users to power down. Riot Platforms, a large miner in the Central Texas town of Rockdale, said it earned $189 million mining Bitcoin last year and $71.2 million from ERCOT. This isn’t pocket change. Riot told investors this was “integral to our overall strategy.”

It's just ridiculous how much free shit we're giving away just to attract a bunch of migrated chinese BTC mining operations

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6 hours ago, Captainant said:

Problem is, that "mining community" exists just to suck up free corporate welfare bucks from our regulatory captured state

https://www.texasmonthly.com/news-politics/texas-crypto-miners-lawsuit/

It's just ridiculous how much free shit we're giving away just to attract a bunch of migrated chinese BTC mining operations

Cry harder for me 


 

How often does the federal Govt reverse course and admit it was wrong when litigation is brought against them? I don’t know for certain but my guess would be almost never. 
 

That column you posted was a joke. 

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On 3/8/2024 at 11:45 AM, Nice Guy Eddie said:

Major ceilings at 70K/4K for BTC and ETH. 70K was briefly passed (new all time high) before the entire market fell down a couple of hours ago. Looks to be rebuilding steam. 

Makes me think that if these two resistance amounts are surpassed, we could see a major bump upwards. Of course I'm reading into the data what I want to see.

Felt like lifetime of not being able to break 70/4 and I wake up to 71 and 4. 

as Americans are groggily waking up today after the time change, I predict it could pop up to 75 (only a 4.6% gain from now) today before settling closer to 71. Should be a good day for the ETFs and micro strategy stock.

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On 2/26/2024 at 9:49 PM, Nice Guy Eddie said:

Yep. As of Friday, iShares’ etf owned close to 0.7% of all bitcoin. Wouldn’t shock me if they get close to 1% this week or next. At some point, these etfs will struggle to find sellers if they keep attracting so much money from investors/gamblers.  It’s not impossible that some big whales will sell off some bitcoin to lock in profits but that would just pause the rise.

I wasn't far off with my prediction by Mar. 8th.

As of close Friday, IBIT reports owning 0.997% of all bitcoins. Of course, they still trail GBTC but quickly GBTC is selling bitcoins quickly as investors leave that ETF. 

note: Let's keep presidential politics out of this.

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Someone explain Microstrategy to me. At this point, if you buy or hold the stock, it has to be as a proxy for BTC as their legacy business hasnt grown in 10 years and cant be worth all that much. As of Feb, they hold 190K BTC which is worth ~$13.7B. Their market cap is approx twice that. Here's the relative performance of MSTR vs BTC over the last year.

image.png.4e2ec658d5c191b900e1557f076df059.png

Is there anything behind this behavior other than your run of the mill irrational market exuberance?  With the new avenues for exposure to BTC in the market, I am curious why people would still be piling into MSTR with that premium to NAV. 

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6 hours ago, Nice Guy Eddie said:

I wasn't far off with my prediction by Mar. 8th.

As of close Friday, IBIT reports owning 0.997% of all bitcoins. Of course, they still trail GBTC but quickly GBTC is selling bitcoins quickly as investors leave that ETF. 

note: Let's keep presidential politics out of this.

He can’t. 
 

5 hours ago, Blotto said:

Someone explain Microstrategy to me. At this point, if you buy or hold the stock, it has to be as a proxy for BTC as their legacy business hasnt grown in 10 years and cant be worth all that much. As of Feb, they hold 190K BTC which is worth ~$13.7B. Their market cap is approx twice that. Here's the relative performance of MSTR vs BTC over the last year.

image.png.4e2ec658d5c191b900e1557f076df059.png

Is there anything behind this behavior other than your run of the mill irrational market exuberance?  With the new avenues for exposure to BTC in the market, I am curious why people would still be piling into MSTR with that premium to NAV. 

Of all the days to have a big excursion day, had to be BTC ATH day. I’ve been jonesing to check things out. 
 

Some good Saylor content here. 
 

The premium is pretty big obviously but the way Saylor has been structuring the debt offerings, the amount of BTC per share has been increasing slightly over time. He discusses that in interview.  There’s also idiot shorts covering.

 

Could also be front running S&P inclusion.  

Edited by Cum Rocket
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On 3/4/2024 at 8:49 AM, BeardIP said:

I appreciate your consistency.

It's funny that luddites-- older, pre-internet Gen X'ers with jowls and blood pressures and low testosterone-- who were very loud in their "BTC is a scam! Saw this coming a mile away because I'm a lawyer who went to a private high school and America made an investment in ME!" and danced on the crypto grave at the beginning and middle of the crypto winner, are of course, nowhere to be found anymore now that BlackRock and JPMC say it's cool.

Also, here is a hot sports opinion-- SBF, while still being an unethical and fraudulent liar, was actually right and had he been able to juggle the balls in the air better (and had better timing) he'd still be getting Times magazine covers for being a crypto billionaire and leader versus having his vegan diet and facing 100+ years in the clink being the topic of discussion. 

Who remembers when self-assured and self-contented men of the most medium abilities were so very proud to loudly and repeatedly give us the Tulip Mania market analogy?

Pepperidge $Farmcoin Remembers.

https://www.wsj.com/finance/investing/how-bitcoin-made-a-believer-out-of-blackrock-abebb140?

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On 3/11/2024 at 10:51 AM, Blotto said:

Someone explain Microstrategy to me. At this point, if you buy or hold the stock, it has to be as a proxy for BTC as their legacy business hasnt grown in 10 years and cant be worth all that much. As of Feb, they hold 190K BTC which is worth ~$13.7B. Their market cap is approx twice that. Here's the relative performance of MSTR vs BTC over the last year.

image.png.4e2ec658d5c191b900e1557f076df059.png

Is there anything behind this behavior other than your run of the mill irrational market exuberance?  With the new avenues for exposure to BTC in the market, I am curious why people would still be piling into MSTR with that premium to NAV. 

If you were an unscrupulous whale, could you not buy calls on MicroStrategy, and then buy a slug of bitcoin to get the price moving and then cash in on the bigger swing in MSTR overall and the call options in particular?

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Spot BTC ETFs saw over $1B of inflows yesterday. 

Quote

BlackRock has opened a new filing with the SEC to purchase more Bitcoin ETFs, according to new filing records by the commission. BlackRock intends to use the new Bitcoin ETFs for its Global Allocation Fund.
...
The latest filing reads: “The Fund may acquire shares in exchange-traded products (“ETPs”) that seek to reflect generally the performance of the price of bitcoin by directly holding bitcoin (“Bitcoin ETPs”), including shares of a Bitcoin ETP sponsored by an affiliate of BlackRock.” It adds, “The Fund will only invest in Bitcoin ETPs that are listed and traded on national securities exchanges.”
...
At the beginning of the week, BlackRock also applied with the SEC to purchase more Bitcoin ETFs for its Strategic Income Opportunities Fund. ...

The SEC has yet to accept BlackRock’s initial request for more ETFs for its SIO Fund. It is up to the commission to approve the latest request for more ETFs.

https://watcher.guru/news/blackrock-files-to-purchase-bitcoin-etfs-for-global-allocation-fund

Quote

Bernstein analysts said on Monday that they were now more convinced about bitcoin (BTC) hitting $150,000 by mid-2025 after the largest digital asset rallied to reach a new all-time high this year.

The analysts also predicted that bitcoin will ‘break out’ after the next halving event ...

https://www.coindesk.com/business/2024/03/11/bernstein-is-now-more-convinced-that-bitcoin-will-hit-150k-after-massive-rally/?utm_medium=referral&utm_source=rss&utm_campaign=headlines

 

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On 3/12/2024 at 10:55 AM, FirstTimeCaller said:

If you were an unscrupulous whale, could you not buy calls on MicroStrategy, and then buy a slug of bitcoin to get the price moving and then cash in on the bigger swing in MSTR overall and the call options in particular?

Yeah that seems like that might be possible. I don't think there's a lot of liquidity in MSTR calls though. 

 

Been thinking a bit about MSTR. It's by far my largest holding in 401k. Trying to assess how long this lasts.  Actually looked at numbers and it’s still one of the most shorted stocks in market. 18% of float is short. Fuel for even more pumping above Btc. Decided today to sell some other holdings and rotate more into MSTR. I don't see how this thing isn't substantially higher in 12-18 months. 

 

20 minutes ago, bernorange said:

Enjoy the ride everybody. Can't say you weren't warned. 

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On 3/12/2024 at 10:55 AM, FirstTimeCaller said:

If you were an unscrupulous whale, could you not buy calls on MicroStrategy, and then buy a slug of bitcoin to get the price moving and then cash in on the bigger swing in MSTR overall and the call options in particular?

Gee, it's almost like much of the cryptocurrency market is extremely prone, and actively under the influence of, extreme price manipulation.

https://fortune.com/2023/02/02/bitcoin-manipulation-price-outlook/

 

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16 minutes ago, FirstTimeCaller said:

Paywalld

my JS blocker lets me read it, here's the first chunk of the article

Quote

Back in 2017, John Griffin, a professor of finance at the University of Texas McCombs School of Business, noticed something strange. Griffin follows a totally different beat from typical business school finance profs who explore, say, how business cycles influence commodity prices or Fed policy sways the term structure of interest rates. The 6-foot-2 former high school football star views himself as a crusader for good, a moral sleuth who, as he tells Fortune, “looks to expose financial evil, to shed light on the world and expose dark things in the markets.” After the Great Financial Crisis, Griffin became a devout Christian. He has since dedicated his distinguished career to righteous forensic digging that’s unearthed abuses ranging from insider trading to mortgage fraud to the doctoring of bond ratings during the financial crisis.

 

As Griffin and Amin Shams, then a doctoral candidate at McCombs who’s joined Griffin in several gumshoe investigations, screened for misdeeds in 2017, they were fascinated to see that a little-known token that’s supposed to be backed one-for-one to the dollar was getting printed in large quantities. That clue led the pair to another: When new batches appeared, the price of Bitcoin seemed to jump. It looked like someone, or a group, was using that freshly printed “free money” to inflate Bitcoin’s price for their own profit. He and his coauthor Shams sifted through an incredible 200 gigabytes of trading data, equal to the troves that the Smithsonian Institution collects in two years, and followed sales and purchases from 2.5 million separate wallets.

In 2018, they coauthored a groundbreaking study showing that a single, still unidentified, Bitcoin “whale” almost singlehandedly drove the token’s giant run-up in late 2017 and early 2018 by distorting the trading in the token.

Toward the end of 2022, another mystifying trend caught Griffin’s eye. Despite the crypto crash and myriad other negative forces, every time Bitcoin briefly breached the $16,000 floor, it bounced above that level and kept stubbornly trading between $16,000 and $17,000. Almost unbelievably, as the crypto market has continued to unravel into 2023, Bitcoin has gone in the opposite direction, trading up 35% since Jan. 7 to $23,000.

“It’s very suspicious,” Griffin told Fortune. “The same mechanism we saw in 2017 could be at play now in the still unreal Bitcoin market.”

For Griffin, the way normally super-volatile Bitcoin went calm and stable in the stormiest of times for crypto fits a scenario where boosters are uniting to support and juice its price. “If you’re a crypto manipulator, you want to set a floor under the price of your coin,” added Griffin. “In a period of highly negative sentiment, we’ve seen suspiciously solid floors under Bitcoin.”

 

11 minutes ago, bernorange said:

FWIW:

 

 

lulz linking me to a bitcoin maxi who's mad at because someone called his baby ugly isn't terribly convincing. He's trying to claim anything by these guys is false because "tether had the money when they needed to!!!!" Nevermind the constant liquidity crisis that Bitfinex was under, and the intermingling of multiple buckets of money to paper over an $850M shortfall (page 4 of the signed court order).

It's the same shit as a few pages back where GRUhorn was telling me that as long as people get their margins and their money back, it's not fraud to lie in your financial filings.

Edited by Captainant
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16 minutes ago, Captainant said:

my JS blocker lets me read it, here's the first chunk of the article

 

lulz linking me to a bitcoin maxi who's mad at because someone called his baby ugly isn't terribly convincing. He's trying to claim anything by these guys is false because "tether had the money when they needed to!!!!" Nevermind the constant liquidity crisis that Bitfinex was under, and the intermingling of multiple buckets of money to paper over an $850M shortfall (page 4 of the signed court order).

It's the same shit as a few pages back where GRUhorn was telling me that as long as people get their margins and their money back, it's not fraud to lie in your financial filings.

Lol he puts this pretty well. Congrats Captain et al. They serve it up. Y’all gulp it down. No better use of this gif. 

 

IMG-1391.gif

 

 

Your dedication to being wrong, to your own detriment, is truly impressive.  

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32 minutes ago, Cum Rocket said:

Lol he puts this pretty well. Congrats Captain et al. They serve it up. Y’all gulp it down. No better use of this gif. 

 

IMG-1391.gif

 

 

Your dedication to being wrong, to your own detriment, is truly impressive.  

You're doing that thing again where you're mistaking your opinion for a fact, and then spiking the football and saying "pwned". Just because you insist on repeating your alternative reality does not make it so. 

 

I would be less dismissive if you would ever directly reply to what I've written, rather than linking me to someone else's thoughts that you heard on a podcast. I know I'm never gonna change your mind until the ponzi ends, but enjoy the ride I guess

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1 hour ago, Captainant said:

You're doing that thing again where you're mistaking your opinion for a fact, and then spiking the football and saying "pwned". Just because you insist on repeating your alternative reality does not make it so. 

 

I would be less dismissive if you would ever directly reply to what I've written, rather than linking me to someone else's thoughts that you heard on a podcast. I know I'm never gonna change your mind until the ponzi ends, but enjoy the ride I guess

You want a reply to the Tether truther? Please keep holding your breath on the great Tether White Whale. 

 

Or some study that “shows” exactly how things are manipulated? If it's so certain, how come non authorities or other investors have seized on it?

 

I love how he displays disbelief that there was a stable floor at 16k. What causes a lot of the volatility? Leverage. At the bottom of each cycle leverage is wiped out. There's no more sellers. Hodlers continue to slowly buy and they set the floor. There I solved one of the mysteries for him, and you. 

1 hour ago, Snake Diggity said:

Has another currency or a stock or a precious metal or really anything at all ever experienced this kind of price increase based solely on speculative inflows?

I’m not sure of your answer, but the reason the price rises so much is the supply is inelastic. In oil or gold or whatever booms, the supply mined or procured increases in response to the price increase via investment in response to the boom. Not possible with Bitcoin. 

1 minute ago, bernorange said:

NVDA?

Equities can and do issue more shares in response to demand. 

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The same irrationality and circular logic that drove up CDO's and other rubber dog shit during the 08 crash are the same forces driving up the BTC price. It just pure optimistic speculation.

"The number goes up because people are investing in Bitcoin!"

...

"People are investing in Bitcoin because the number goes up!"

 

 

The funniest thing is gonna be when large banks and financial institutions end up being the majority holders of cryptos through these ETFs, and you no longer have a decentralized currency and are back to trusting and dealing with the banks

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47 minutes ago, Captainant said:

The same irrationality and circular logic that drove up CDO's and other rubber dog shit during the 08 crash are the same forces driving up the BTC price. It just pure optimistic speculation.

"The number goes up because people are investing in Bitcoin!"

...

"People are investing in Bitcoin because the number goes up!"

 

 

The funniest thing is gonna be when large banks and financial institutions end up being the majority holders of cryptos through these ETFs, and you no longer have a decentralized currency and are back to trusting and dealing with the banks

I’ve wondered about that last item.  Likely that banks and other institutions may end up owning a large percent of bitcoin but that doesn’t make it less decentralized. It’s the network that’s decentralized not the bitcoin holders.  But still institutions today may own larger percents of corporations but that doesn’t mean they get up to the high 90 percentile of ownership. There will always be individual ownership especially with a coin/share that’s divisible to 8 decimal places.

and if the price drops because lack of buyers, then institutions will sell because their shareholders will want out. The price and institution ownership will find a balance. And that balance will periodically shift.

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1 hour ago, Captainant said:

The funniest thing is gonna be when large banks and financial institutions end up being the majority holders of cryptos through these ETFs, and you no longer have a decentralized currency and are back to trusting and dealing with the banks

I agree that it's not the ideal way for people to own Bitcoin. But it’s a better intro than nothing. Some will learn and make the switch to self custody over time.  Also somewhere/somehow one of the ETFs will rug some investors. And more will learn that way. 

 

Also, wrt potential Eth ETF

 

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2 hours ago, Cum Rocket said:

I agree that it's not the ideal way for people to own Bitcoin. But it’s a better intro than nothing. Some will learn and make the switch to self custody over time.  Also somewhere/somehow one of the ETFs will rug some investors. And more will learn that way. 

Your casual acceptance of almost certain fraud in a market instrument animated solely by BTC speaks volumes. As long as line keeps going up it doesn't matter if the new money gets screwed right?

image.png.ecb0d34178aed6251e645b4e6fa3e0ae.png

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On 3/13/2024 at 10:34 PM, Snake Diggity said:

Has another currency or a stock or a precious metal or really anything at all ever experienced this kind of price increase based solely on speculative inflows?

how many days have you been looking at public markets?

here's natural gas over a 1 year timeframe.

image.thumb.png.597faee623739e721a71a5a908390a26.png

fun in oil

image.thumb.png.c2981f4b37a7a4a389ef9996ab787c0f.png

here's a few weeks that include literally negative prices

image.png.ee47b60b8fa92b83720ba06e7e886013.png

price changes are ipso facto from differences in cumulative inflows vs outflows... how else are they supposed to change?

and almost all of trading IS speculative.  most participants are not taking deliveries or consuming the commodities or spending the currencies or actively participating in the corporation issuing the equity. 

cftc reports that <20% of positions in energy is from actual producers.  near 50% is pure 'money managers'.  you dont vote your 3 shares of the companies you own in your retirement account.  you pick the ones that you do because you speculate on price-go-up.

 

so the question is have publicly traded securities exhibited as much volatility as crypto? sure they have.

 

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3 hours ago, 52-80 said:

how many days have you been looking at public markets?

here's natural gas over a 1 year timeframe.

image.thumb.png.597faee623739e721a71a5a908390a26.png

fun in oil

image.thumb.png.c2981f4b37a7a4a389ef9996ab787c0f.png

here's a few weeks that include literally negative prices

image.png.ee47b60b8fa92b83720ba06e7e886013.png

price changes are ipso facto from differences in cumulative inflows vs outflows... how else are they supposed to change?

and almost all of trading IS speculative.  most participants are not taking deliveries or consuming the commodities or spending the currencies or actively participating in the corporation issuing the equity. 

cftc reports that <20% of positions in energy is from actual producers.  near 50% is pure 'money managers'.  you dont vote your 3 shares of the companies you own in your retirement account.  you pick the ones that you do because you speculate on price-go-up.

 

so the question is have publicly traded securities exhibited as much volatility as crypto? sure they have.

 

So in response to asking about a stock or precious metal that has been as volatile as BTC, you choose natgas as your example. Natgas has historically been extremely price volatile, thanks in large part to speculation, but it's ALWAYS been volatile.

You're not really proving a good thing to say that BTC is safe because it's only as volatile as natural gas futures prices. That's gambling and speculation, not investing. And that's ok! Gambling and speculating is fine. But be honest about what you're doing, because presenting BTC as an ETF is laundering its credibility - despite the acknowledged risks of fraud for people who """invest""" in them.

Edited by Captainant
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Quote

MetaMask, the popular cryptocurrency wallet for the Ethereum blockchain, is testing an entirely on-chain, Mastercard-branded payment card, according to promotional materials and a testing platform seen by CoinDesk.

Such a product would unite two giants of their respective fields. MetaMask is the biggest self-custody wallet with more than 30 million monthly active users, while Mastercard provides key plumbing in the conventional financial system through its credit- and debit-card network spanning the globe.

The MetaMask/Mastercard payment card would be "the first ever truly decentralized web3 payment solution," allowing users to spend their crypto "on everyday purchases, everywhere cards are accepted," according to the marketing materials.

Mastercard and its rival Visa have been quietly courting public blockchain developer communities and self-custody wallet providers of late. Mastercard has been working with hardware wallet firm Ledger as well as MetaMask, CoinDesk reported in October of last year.

Visa, meanwhile, has been working with the USDC stablecoin and the Solana blockchain on cross-border payments and smoothing out wrinkles like paying Ethereum gas fees.
...

https://www.coindesk.com/business/2024/03/11/with-mastercard-metamask-tests-first-blockchain-powered-payment-card/?utm_medium=referral&utm_source=rss&utm_campaign=headlines

*Huge* news if it rolls out to the public.  MetaMask is free and widely used, but limited to the Ethereum blockchain (and all the ERC20 crypto that is built upon it).  If MasterCard rolls out a similar solution with Ledger, that would be even more huge as Ledger provides access to virtually every major blockchain.  

~~~

Quote

Ethereum’s Dencun upgrade went live on Wednesday, introducing a mechanism to reduce costs associated with transactions on layer 2 solutions that batch and compress transactions before sending them to the mainnet.

The latest information shows the upgrade is living up to expectations.

According to blockchain analyst Marcov’s Dune-based tracker, the average cost of transactions on scaling solution Optimism has dropped to nearly 4 cents, down significantly from the recent average of around $1.4. The average fee on Coinbase’s layer 2 solution Base fell to 3 cents from roughly $1.50, while Arbitrum’s declined to 40 cents. The average fee on zkSync and Zora also fell.
...

https://www.coindesk.com/markets/2024/03/14/layer-2-blockchains-become-cheaper-after-ethereums-dencun-upgrade/?utm_medium=referral&utm_source=rss&utm_campaign=headlines

~~~

Stellar (XLM) development news:

Quote

Companies that operate across geographical borders face significant operational and financial challenges in paying a global workforce. Fluctuating currency rates, transacting in multiple foreign currencies, and the manual nature of payroll administration for remote workers create friction for companies like BiGGER that rely on global operations to serve their customers. As these enterprises scale, human resources and treasury managers seek tools that streamline, automate, and reconcile payroll to minimize risk and operational costs.

BiGGER, an Australian company providing training and business planning to non-technical founders building and scaling technical startups, experienced exponential growth throughout 2023. In six months, it tripled its employee count adding a significant concentration of employees based in Argentina. In doing so, BiGGER realized there were some challenges in paying a dispersed workforce with its existing crypto payout solution. Using crypto to pay workers proved to be a faster and low-cost option for the company, but the process itself still left opportunities for improvement.

Each pay period, the staff would manually transfer funds from an operating account and issue individual payments to each employee. As the workforce grew, this manual process proved difficult to scale. New employees were required to provide their digital wallet credentials prior to their first payment in order to be added to the payroll. This was not only manual, but increased risks of user error during wallet creation and for administrators establishing a new payee.

BiGGER staff realized they needed a turnkey and intuitive solution to send cross border bulk payouts to their global workforce. Although costly and high-touch manual processing was the reality of BiGGER’s payroll administration, the release of the open-source Stellar Disbursement Platform
(SDP) enabled staff to quickly deploy an instance, sending bulk payouts with certainty and transparency in seconds. Processes that previously took 8 hours per month over multiple payroll cycles are now completed in minutes - such as reviewing payout amounts to include any withholdings, uploading a single csv file, and inviting employees to access funds. Employees can view and confirm funds immediately via Beans app, a digital wallet providing free global money transfers using stable digital assets.
...

https://stellar.org/case-studies/bigger

Stellar uses a Proof of Agreement consensus model that is very fast and very cheap (gas fee) compared to most crypto.  If the smart contract platform is as robust as Ethereum and Solana, it could end up challenging them.

~~~

Quote

...
Ownership of each Chaincrib property is split across a finite number of representative tokens minted on the Cardano blockchain.

Here, you don't just own the tokenized properties as NFTs, Based on token share, owners can collect revenue from rent, and vote on property decisions.
...

https://chaincrib.com/

You will soon be able to buy fractional ownership of rental properties with crypto and collect your fractional share of rent in crypto as well.

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1 hour ago, Cum Rocket said:

Sorry Sir, this is Surly. Where people only invest in companies that produce tangible goods. Warren Buffett types owning KO, PG, or JNJ.

nah, this is where people who know nothing about markets complain about how bad they are

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24 minutes ago, Pam Cummings said:

Uh oh. My wallet is down this morning. We might be entering the "dump" phase of this cycle.

equities futures market is also "dumping" right now. 

the really broad correlation between crypto and us stocks is almost remarkable.  peak in 2022.  bottom in 2023.  and now this ridiculous run up. 

its almost like theres just endless liquidity looking for a home.

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So Block has been working on a hardware wallet for a couple years. It's called the bit key and is finally shipping. It's supposed to have great UX for noob or Uncle Jim levels. I ordered one today and will report back for the handful of people here who care. 

 

 

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