[floki]

78% of the Bitcoin Supply is Not Liquid
Quantifying the amount of liquid and illiquid BTC supply and its relationship to Bitcoin's price.

https://insights.glassnode.com/bitcoin-liquid-supply/

[Nismo]

For those thinking "I already missed the opportunity".

First I heard of Bitcoin was on this forum, price was $2.50. Almost invested. Next time I checked price was $15.00 and thought I missed the opportunity. I'm priced in at $1600 now

[ChuckyTheGoat]

For those thinking "I already missed the opportunity".

First I heard of Bitcoin was on this forum, price was $2.50. Almost invested. Next time I checked price was $15.00 and thought I missed the opportunity. I'm priced in at $1600 now

Nismo, are u capable of driving the Rocket ship?

*Target = 30,000. +300 if we get there by 1/2, 1159pm Eastern.

2x to +600, if we get there by 1/1, 1159pm Eastern. Let's do it!

[Arky]

We need a new thread for the new year, right? Sam do the honors of starting it?

[Optional]

Rule of thumb for stock markets is 1st trading session of the year is up, then year end will be up.

[Sam Odom]

We need a new thread for the new year, right? Sam do the honors of starting it?

Bitcoin Price Tracking & Discussion -- 2021 (sportsbookreview.com)

[nyplayer33]

Can the govt shut this down

[asiagambler]

Oh ok.

Sounds like you are thinking about it being infinitely divisible.

21 million bitcoin is still going to be only 21 million and each one of those should appreciate with more demand and less supply.

I didn't say that either

As I said, it's clearly divisible to 8 decimal places. If you think about it, 1 bitcoin is just an arbitrary amount of satoshis (though obviously it's a nice round number)

As for supply and demand, I'll reiterate what I said to Chucky. Demand is more than just wanting something, it's wanting something at a specific price point. There's nothing special about owning exactly 1.00000000 btc except perhaps for the novelty? Sure people do buy things for that reason but that's really not something that's going to drive the price of bitcoin sky high

[asiagambler]

Think of it this way.

There are a total of 10,000 bitcoins beginning Jan1, 2021.
5,000 new bitcoins produced in 2021. There are now 15,000 bitcoins Jan 1, 2022.
2,500 new bitcoins produced in 2022. There are now 17,500 bitcoins Jan 1, 2023.
No more bitcoins are produced. The total stays at 17,500 bitcoins.
Does this have anything to do with the price? Personally, I'm unsure if it does or not.

Well if this is all known beforehand then surely it has to be priced in already? At least mostly. Though things can change as well. I'll say there's still some uncertainty

[Optional]

I didn't say that either

As I said, it's clearly divisible to 8 decimal places. If you think about it, 1 bitcoin is just an arbitrary amount of satoshis (though obviously it's a nice round number)

As for supply and demand, I'll reiterate what I said to Chucky. Demand is more than just wanting something, it's wanting something at a specific price point. There's nothing special about owning exactly 1.00000000 btc except perhaps for the novelty? Sure people do buy things for that reason but that's really not something that's going to drive the price of bitcoin sky high

I don't think that logic can be applied to gold?

If not, why not? Is an ounce a magic number for gold but a bitcoin is not for crypto?


Finite supply gives confidence to investors as much as fomo. No govt can come along and print more on a whim. If a disaster happens, the value of crypto will reflect that more accurately than controlled currencies.

[eddycash]

Can the govt shut this down

You can't stop an invisible force.

[Optional]

Can the govt shut this down

They can make it a lot harder to convert to the local currency.

Can't see any way they could shut it down though.


I believe the very first aim in Satoshi's mind was to make it impossible for DOJ to do what they did to E-Gold and E-Bullion. Basically bully them out of existence using tenuous legal grounds.

[eddycash]

China tried twice to shut it down and failed

[asiagambler]

I don't think that logic can be applied to gold?

If not, why not? Is an ounce a magic number for gold but a bitcoin is not for crypto?


Finite supply gives confidence to investors as much as fomo. No govt can come along and print more on a whim. If a disaster happens, the value of crypto will reflect that more accurately than controlled currencies.

I don't know maybe we just speaking different languages because you seem to misinterpret everything I say. I'm not disputing that bitcoin has a finite supply which it obviously does. I'm not disputing anything about the last part of your post. I am disputing that it's as scarce as Chucky thinks it will be. People wanting to own 1 bitcoin doesn't matter if they can't afford it. I don't know how else to put it

[Optional]

I don't know maybe we just speaking different languages because you seem to misinterpret everything I say. I'm not disputing that bitcoin has a finite supply which it obviously does. I'm not disputing anything about the last part of your post. I am disputing that it's as scarce as Chucky thinks it will be. People wanting to own 1 bitcoin doesn't matter if they can't afford it. I don't know how else to put it

I think I get what you are thinking, thats why I mentioned infinitely divisible. (not just to 8 decimal places btw, that can be changed if needed)

But the question about if your logic applies to gold too is a real one. Maybe I don't get you properly and if you can apply the same logic to gold I'd find it more convincing personally.

[asiagambler]

I think I get what you are thinking, thats why I mentioned infinitely divisible. (not just to 8 decimal places btw, that can be changed if needed)

But the question about if your logic applies to gold too is a real one. Maybe I don't get you properly and if you can apply the same logic to gold I'd find it more convincing personally.

I guess it can be changed but that's really not even the point. As it stands now, the smallest unit is 1 satoshi which is 1/100000000 of a bitcoin.

Honestly, I don't understand what you're asking with respect to gold. Maybe you can tell me how it doesn't apply. Because one ounce of gold is just an arbitrary amount. Aside from novelty, there aren't droves of people who want to own specifically one ounce of gold same as 1.00000000 bitcoin

Do people want to own SOME gold or SOME bitcoin ? Of course. But there is plenty of both to go around.

[Optional]

I guess I am thinking a part of the underlying value of gold is based on the finite supply and increasing cost of mining it as easy to access sources dwindle.

And how that mirrors the Bitcoin design.

Having plenty to go round now does not change those underlying factors in the long term and those are the key factors I am thinking.

[asiagambler]

I guess I am thinking a part of the underlying value of gold is based on the finite supply and increasing cost of mining it as easy to access sources dwindle.

And how that mirrors the Bitcoin design.

Having plenty to go round now does not change those underlying factors in the long term and those are the key factors I am thinking.

Those are all true and there are lots of similarities between the two

The original point I was making was that it's maybe incorrect to think that just because there is a finite supply, people will be fighting tooth and nail to own one bitcoin which of course can be divided into many smaller pieces.

And this is ignoring the fact that 21 million isn't exactly a small number in and of itself. This isn't like some rare baseball card of which only 5 exists in the world or something along those lines. THEN, for sure I agree- people wanting to own something just for the sake of its rarity can be a driving force in the market. But I don't think bitcoin mirrors that situation at all, that's really all I was saying

[Optional]

Yeah, I agree that you're correct that this information has been somewhat priced into the value and there won't be some lightbulb moment people start thinking they must get in to fuel a boom based on scarcity alone.

But, the market is very immature, many people still just throw their hands up in the air and think crypto is too complex for them. So I do think the scarcity angle will have more +EV effect than you appear to be saying. Plus unlike gold, we are actually going to reach the end of miner supply of new stock soon to put it top of mind and in the news. Also people don't lose gold like they do and will with bitcoin. Meaning the available supply will actually dwindle in the long term too.

I hope I am right about that. But not arguing that you or anyone else has got it wrong either. Far from an expert to feel like I know for sure.

[asiagambler]

Yeah, I agree that you're correct that this information has been somewhat priced into the value and there won't be some lightbulb moment people start thinking they must get in to fuel a boom based on scarcity alone.

But, the market is very immature, many people still just throw their hands up in the air and think crypto is too complex for them. So I do think the scarcity angle will have more +EV effect than you appear to be saying. Plus unlike gold, we are actually going to reach the end of miner supply of new stock soon to put it top of mind and in the news. Also people don't lose gold like they do and will with bitcoin. Meaning the available supply will actually dwindle in the long term too.

I hope I am right about that. But not arguing that you or anyone else has got it wrong either. Far from an expert to feel like I know for sure.

Yeah the bitcoins lost forever I didn't touch on really too much because I think overall, the amount is relatively insignificant. But of course it's always how it's perceived more than what it actually is

And that's the beautiful thing about the market. There can be many differing opinions and that's exactly what makes the market

[goceltics]

Just touch 31k

[ouzoun]

Got crazy once again. 31K.

[nyplayer33]

Unreal..lol

[ouzoun]

33k it is running like crazy. I m selling some of my BTC.

[ouzoun]

34k again sold some.

[nyplayer33]

Its gone down to 30k and creeping up

[ChuckyTheGoat]

Unfortunately these 20-30% drops will happen even during bull runs.

Reviewing some older posts. (Above) That's the question:

*ATH ~ 42,000. -8,400 would put the price at 33,600. Did go from 35 to 28 a few weeks ago.

We shall see. Life on the wire.

[TheLock]

Imagine selling BTC right now

[ChuckyTheGoat]

Imagine selling BTC right now

Drew Lock, that's one hell of a question. You'd have to be insane, right?

[Sam Odom]

Imagine selling BTC right now

If one needed the cash... good time to sell


$41.2K

[StackinGreen]

Imagine selling BTC right now

I told a bartender in a big city that I am about to make you a millionaire, I'm an angel in disguise - buy BTC

It was 18k

[TheLock]

I told a bartender in a big city that I am about to make you a millionaire, I'm an angel in disguise - buy BTC

It was 18k

I told Pair of 5’s Sir to buy 20 BTC’s in 2013.

It was $179.00

[BeatTheJerk]

I told Pair of 5’s Sir to buy 20 BTC’s in 2013.

It was $179.00

How many coins do you have now ?