re: Will the Bitcoin selling start accelerating?

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Sure. But we're now at about the same price we were at almost 5 years ago. And that's WITH massive inflation at its back.

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November 2017 through November 2022 was flat.

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November 2017 through November 2022 was flat.

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I'm just saying that the price was right around here in March/April 2021.

With big inflation.

Much closer to the 21 millionth (and final) coin.

With plenty of repressive regime chaos around the world (you know, the kind that supposedly generates a huge end user case for fake money).


Maybe it goes to 10 million one day...but it sure is strange how the EXACT confluence of factors that was always cited as being the very reason it would go to 10 million don't seem to be able to make it go up.

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I haven't crunched the numbers but am willing to bet if you take the worst case scenario for BTC - assume a buy on the day in '21 BTC peaked as the start of the 5 year period and today the end, the dollar and BTC have about the same purchasing power today.

Not the store of value we want BTC to be, but then again we've contrived the worst case scenario here.

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Not sure what your point is.

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Not sure what your point is.

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Maybe I misread what your point is. You were responding to the guy that scoffed at the notion that BTC was going to zero, and you pointed out that BTC has retraced its 2021 pricing amidst rampant inflation. I took that to mean you found the "go to zero" scenario plausible because BTC has performed so poorly. I merely pointed out that with the worst possible timing of buy/sell, BTC has done no worse than the dollar the last five years (your timeframe).

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Maybe I misread what your point is. You were responding to the guy that scoffed at the notion that BTC was going to zero, and you pointed out that BTC has retraced its 2021 pricing amidst rampant inflation. I took that to mean you found the "go to zero" scenario plausible because BTC has performed so poorly. I merely pointed out that with the worst possible timing of buy/sell, BTC has done no worse than the dollar the last five years (your timeframe).

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But the dollar has been around for centuries and isn't even a fraction as volatile.

The bitcoin-to-zero scenario is quite plausible.

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Laugh all you want the ETF exposure just gave the shitbags an easier path to shorting the shite out of it. You let the wolf guard the henhouse.

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I was thinking about this today. The severity and violence of the correction has to be partially brought on by hedging and people actively trading it.

It does make me wonder if it’s a spring that will uncoil when the trade unwinds. The IV blowing out is interesting. This isn’t the normal dynamic.

Why October?

Why not September or August?

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But the dollar has been around for centuries and isn't even a fraction as volatile.

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Well, I'd argue the dollar that was around for centuries ended in 1971.

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The bitcoin-to-zero scenario is quite plausible.

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What's your guess - 50/50? 10% probability? What are we looking at?

Bitcoin is such a wild animal of an asset. Im invested in it so this sucks but I’m also interested in how this unfolds. It feels like this week we shifted from natural selling to natural selling combined with speculative selling.

270M shares of IBIT traded today. That’s over 150k btc traded just from IBIT.

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It is accelerating now. Bitcoin and all the rest of them will eventually reach essentially zero and the crapdoo bubble will be remembered for 1000 years as the stupidest episode in financial history

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If I had a nickel for every time I’ve heard this I could buy 1 BTC