[Daily Discussion] - Friday, April 08, 2022

  1. How many of y’all have fucked with the Coinbase card? The rewards seem appealing. Just not a huge fan of losing the credit card protections. Any other issues to be wary of?

  2. they are selling now to buy in the upper 30s. if they sell 1 btc now and buy at 35k, they made .2 btc. in a couple years lets say we hit 200k, that's a $40k profit trade...

  3. If you're industry-related then it makes sense. Same reason people go to CES or any other trade show. Networking and spying on your competitors.

  4. So looking like we crab til cme open, or breakdown tonight or over the weekend. So breakdown means 39k over the weekend or tonight, else we stay low and crab til Sunday.

  5. Opinions aside, one thing I have not seen anyone mention here is the sheer number of disclaimers and things taken for granted during the Mallers announcement. There was an entire paragraph of contextualizing legalese under him while he spoke. And it basically said “this is a rosy scenario assuming that a lot of regulation goes our way and also we’re taking these partnerships for granted big time”

  6. If I were just some random layperson, I'd say that the entire speech could have been cut down time-wise by 75% without any real loss of information. Plus use of the word 'Boomer' and 'wazzzup' 291 times was kind of offputting.

  7. Me, but my excitement level to buy back into crypto is as high as my excitement level for the next season of Downton Abbey.

  8. Just brutal. Broke out of this triangle, only to stall out, fall back in the triangle, and now a failed re-test of the breakout. I think things get boring again as we chop around some more in here:

  9. Yeah I'm holding a tiny bit of hope that enough breakout traders have gotten rekt the last couple days, and now bottom shorters are gonna get rekt as we go back up. The "back in the triangle fake out" if you will

  10. On a positive note, being stuck in the low to mid 40s is much better than being stuck in the low to mid 30s like we were last summer. You know, higher lows and all.

  11. For me the drop from November till last month was textbook 2018. Were you around then? There’s a fractal I’ve seen on CT which shows it’s identical to one of the drops back down to 6k.

  12. Its the 10k retest, back then we thought we have fuck solid Support @6k and soon the rocket ship can start again.

  13. Tough identifying the local tops. I was sure that the rally would hit 50-52k before dropping but i suspect that a lot of others wanted to sell/take profits at that level. So we went up to 48k and then back down to 42k.

  14. After that Jack Maller Apple scam fuckup, I knew this year is 2018 all over again. Sold 0.4 btc, cleaned the shit off of my bosses desk for a few more years wagecuck life + enjoying my summer.

  15. That does make me wonder what the fuck Maller was referring to with all that apple stuff. Sure looks like deliberate misdirection.

  16. Bitpay went live with lightning payments, I'm sensing a theme emerging. In the 3 days since its been live average payment size is $35 compared to their Bitcoin average of $800

  17. Yes, dumped that shitcoin immediately at the fork. covered my entire cost basis and then some by buying more BTC. It hasn’t gotten remotely close back to those ratio levels. Thanks fools!

  18. Decent double-bottom potential on the 4H time frame. Would like to see an increase in bullish volume above 44k before the Daily closes for confirmation. Watching 44k closely, as price got smacked down earlier today when it touched that level.

  19. I think its both a brilliant fud busting headline and a wonderful public POC to see how bitcoin mining can work in conjunction with the intermittent nature of wind and solar. And the parties involved will make sure it gets plenty of press so even if some of the initial press is skeptical I think over time the concept will prove out.

  20. Speaking of Tesla, when are they gonna start accepting BTC payments again? Seems like as good as time as any after yesterdays announcement.

  21. Since the amount of BTC released to miners is fixed and known, main question is just whether new miners entering the space are more likely to hold or sell in larger or smaller ratios relative to the average ratio of existing miners, IMO.

  22. Picked up some coin today just a hair under 43K. It's times like these when you earn it. No guts, no glory.

  23. Even a lightning mega-user and developer, Renee Pickhardt, shares some of the main concerns I have about the lightning implementation in the big leagues as proposed by Mallers:

  24. I like Rene and he is undoubtedly a boss when it comes to LN but he seems to think all payments must be routed using the gossip protocol on the LN for strike to work. Thats not how its designed in El salvador and thats not how its designed here. Routed transactions with sparsely connected nodes are reliable in my experience but thats anecdotal.

  25. He doesn't need to worry. Nobody's going to use it for quite some time. When bitcoin is closing in on $10m per coin, lightning will need to be reliable.

  26. Not trying to beat you over the head with hindsight analysis, but on 1/31 the price had just one week prior to that sunk to slightly below 50% down from ATH.

  27. Yall slept on it still woke up today with fucking terrible hot takes. Glad the price is dumping you don't deserve this shit.

  28. I get intuitively why people think it would be, but DXY is not the best signal if you look at the actual correlation coefficients over the years. While it's true there have been historically longer periods with negative correlation, it switches pretty regularly, to the point that I personally wouldn't put weight on it as particularly significant.

  29. Still nibbling with buy orders, but the more extended PA gets in this range, the more likely I think we are moving further down. 42k is my line in the sand, and I will take the 'L' if that breaks. I expect us to revisit the 37-38k if that level gets breached.

  30. My opinion of the Strike announcement. Nobody bought alpaca socks with Bitcoin. Nobody spent Bitcoin at Newegg or Overstock. El Salvador by a large percentage holds their Bitcoins and spends their dollars since it became legal tender.

  31. Of course they don't. What's their incentive? Nothing has changed since 2013. Payments are 100% irrelevant. It's nice the tech is there already when the people come, of course. But the people aren't coming until bitcoin has become a ubiquitous store of value.

  32. The primary point on this is that people can keep spending dollars and merchants receiving dollars but will be incentivized to use Strike solution by saving fees. Meanwhile, Strike uses bitcoin to make it work. This is the point.

  33. His business isn't to let people spend their bitcoin, that's a feature for maxis if they want to. He wants to drive fees for merchants to 0. BTC is used by strike behind the scenes, as a customer you only need to use fiat. Imo this will drive major competition for visa/mastercard, and i'd expect strike to be bought out before that really happens. Just like how you don't need to know how a car engine works in order to start it, you don't need to know how BTC works in order to use it as a dumb dumb customer.

  34. I think one thing is clear and is part of the problem. Lightning functionality isn't understood properly, i'm not expert but Crypto Twitter is brimming with people saying "Why would i want to spend my Bitcoin"

  35. This is sort of along the lines of what I’ve been thinking over the last year or two. My timeline is a little different though - I was expecting that final melt up 2021 into 2022, and I’m more included to believe that was it. But we’ll see!

  36. I agree with most of what you said except for the timelines. Since World War II every yield curve inversion has been followed by a recession in the following 6-18 months. I think recession will drag down bond market and bitcoin before we get to 2024 but I think we're choppy/slightly bullish until then

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