Posted by hn_acker 1 day ago
The fact this is happening amid one of the smallest dumps from an ATH in Bitcoin's history is particularly amusing. 45%, compared to 80+ in prior cycles. And this time, while all major markets are melting down amid global liquidity hitting a wall.
Been a swift drop this time. My buddy goes "if only I sold it all in October", what... like the rest of the people participating in the Ponzi scheme who would also like to cash out at the top?
Looks like all those stupid bitcoin treasury companies are finally unwinding.
At least no one's sitting around pretending it's going to actually do anything useful anymore.
It enriches certain elected officials (and their friends). That's why the US Government holds a "Strategic Bitcoin Reserve".
Other than that if you measured the utility of Crypto assets versus AI, there's no argument that AI (even though it's in a bubble) is still more valuable per MWh than Crypto.
This piece predicts that BTC will go to zero because it is held my MicroStrategy and is not a good hedge against stock market.
And unlike Bitcoin, it is producing something. Maybe not what people hope, but it's more than just a "store of value".
Once the speculation money starts to leave, the supply of greater fools will have run out. There will be literally nobody willing to buy it.
The fact my offer exists means a zero price target is dumb.
That seems like a lot of money to waste.
Your take was dumber than the zero price target.
I didn't pay much attention to the rest of it but I can't imagine it was any better.
(Anyway, in answer to your question: at time of writing, it's the 6th of February, though I don't know what else you might be expecting.)
But, regardless, even if you feel you have won, this time - for how long? It won't be the 5th of February for you forever!
TFA was on the 5th though.