re: Bitcoin is dropping like a rock. Down to 99,200

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So what was the impetus for the price run up and what’s changed?

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Bitcoin is a speculative asset and a balance sheet play for the big funds.

If they derisk their BS or need the liquidity, they dump it and vice versa.

They buy/sell in quantities that move the market/$.

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Who’s taking the L if someone compromises my Schwab or Visa credentials?

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What's your point here - that Bitcoin caries some unusual risk associated with storing it on a cold wallet? But how different is that from keeping gold bars in a safe (as just one example)?

Agree it shouldn’t get confrontational, but when you make arguments like “cutting toes off” and forget to realize that can be applied for any location your money is in, people are going to push back.

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More than anything else, I’m just convinced there’s a massive pool of capital that will flow into bitcoin over the next 10 years.

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But why?

Tether only printed a few billion tether bucks and was able to pump it back over 100. But they turned the printer back off for now.

I'm sure they will start the cycle again soon. Once they get enough "investors"

its at a buy point now on the moving avg.

great time to start collecting again.

One thing that I don’t really think is debatable is that the percentage gains for BTC are way behind it, and its price action bears that out. The percentage gains and swings are far more muted than they’ve been in the past.

The days of turning a few thousand dollars into a crypto bro millionaire with BTC are done.

It’s now at 88,500

One big question mark for me is the currency aspect of bitcoin. No one wants a currency that fluctuates like this.

Imagine accepting 10,000 worth of bitcoin for a product and by the time you convert to dollars (topic for another day) and it’s lost 3%! Not smart business.
Or conversely, paying 10,000 worth of bitcoin for something and the value of bitcoin jumps 3% after the transaction. Ouch. Not smart.

So if the intent of bitcoin is to be a viable currency, the volatility has got to reduce.

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Crypto is the biggest capital sucking scam in the history of financial markets

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We've literally been hearing this at every dip for the last 15 years.

Is there someone in this thread arguing it's a stable currency for everyday transactions or are you arguing with yourself?

Much in the way I never expect to transact in gold, I would never anticipate using BTC for microtransactions; even though it would be highly effective at it when compared to gold.