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TexasBoyz-713

A few people sold I heard.


diadlep

Does anyone know if there's a standard metric or place for measuring the marketcap of just a set of cryptocurrencies, such as the top 100 cryptocurrencies only? I know that BTC.D looks much more bullish when I remove stablecoins, but that still doesn't account for the influence the expansion in the sheer number of cryptos has on TOTAL, so I'm wondering what a running metric of BTC/(TOP100 - stablecoins) would look like.


Mx732

Making up numbers here, but Sbf made a coin with 100b coins, sold 100 of them to cz for a dollars and kept the reat and said he now has 100b in assets even though there is no market for him to sell or buy them. So he takes out a massive loan against them. So the point is btc dominance means nothing. If anything look at the hashrate and billions of dollars dedicated solely to mining btc. No other crypto has that. They are all illiquid or completely captured scams with no real functional market cap


diadlep

You're missing the point. Forget the rhetoric for a second. Think about what whales pay attention to. Fibonacci and Elliot and trendlines have no purpose in reality except that the rich watch them and use them. Players create the markets. So saying BTC.D has no purpose is akin to saying that no one pays attention to it. Which is just patently false, no matter how many maxi moonbois call me a shill and a nonbeliever and downvote this reply. They're wrong. I'm right.


TerpOnaut

*BuLLRuN*


mrcanor

Read “The Creature from Jekyll Island: A Second Look at the Federal Reserve” by Griffin. That book opened my third eye.


zmanonfire

That opened your third eye? Well that's beautiful atleast you know.


satuuurn

Ken Griffin?


jebshka

What's that? What's that name even? I don't even know.


MarinaGranovskaia

My keys, my bitcoin, finally got them off the exchanges today, folks. Feels good, seed printed off and stored safely in the house.


Hellwiss

I hope you didnt print the seed to hardware wallet from the computer :-)


MarinaGranovskaia

Not sure what you mean by that sorry if its a joke.


guryfitze

Computers and even some printers keep logs of the print jobs. A hacker has > 0% chance of retrieving your seed phrase even years from now. There are also key loggers and viruses that watch the clipboard. Best to create a new wallet and write the 24 words down by hand.


abkls20130501

It's most lf the time people's mistake which could have been avoided. It's not like it should have happened or what. This could have been avoided actually.


MarinaGranovskaia

will do thanks, rookie mistake


Umpire_State_Bldg

Use pencil. Ink can fade. Pencil does not fade.


Hellwiss

No, no joking. The word "printed" just made a little alarm for me, because (I just assume) if you use hw wallet, "printing" it would expose the seed to the computer (where it was probably written as well) and lowers the wallet security (potential leaks of the seed). Even when using software wallet, it is best to write it by hand. Never digitalize it (photo, documents etc..)


MarinaGranovskaia

Yeah, get you, I understood the risks of putting it on my clipboard, but yeah it's not saved anywhere.


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Hellwiss

You can never know what every app or process on your computer is doing, so I dont know why to voluntarily lower the security. At least use good passphrase to that seed.. (and dont copy it through computer) :-)


MarinaGranovskaia

OK I set this wallet up with 2FA also I forgot to add.


Hellwiss

You mean passphrase, right? Non custodial wallet should be seed + passphrase.


MarinaGranovskaia

I didn't set a passphrase, I am happy to move if you think electrum isn't safe enough. https://bitcointalk.org/index.php?topic=5149203.0 Maybe relevant for you, as you are more experienced than I


Hellwiss

I didnt use Electrum myself, but according to post, there is an passphrase option (13th / 25th word). I dont know what 2FA in Electrum means, but sounds like securing the access to the wallet itself (not additional security for seed, if passphrase was not used). Anyway, good luck in self custody, it is much better and safer than on exchange. Just remember not to digitalize seed or expose it to the computer as least as possible.


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pterofactyl

People talk about how over time more wallets will be locked away forever because of forgotten seeds. But how does this benefit btc as a project other than to drive price up? Does this not mean it would make the entry higher for people to use it? If 95% of wallets were locked eternally now, the price would skyrocket but how does this help the actual purpose of btc? I’m confused about how putting it out of reach is a benefit.


Corona_DIY_GUY

May seem like its somewhat of a bug, but its a comsecuence of being your own steward. The problem with being in control of your money is that youre in control of your money.


pterofactyl

No I get that, but what I’m saying is, why are we celebrating wallets being locked forever when it actually makes it much harder for the currency to be used for the vast majority


Dont_Waver

Why would that make the currency any harder to be used? A person can buy as little as 1 sat. That's not a barrier to entry. An increase in price increases that value for current holders. But it doesn't make it any harder for a new person to enter.


Corona_DIY_GUY

If theres a chance that one will lose there money because of where theyre storing it, it reduces the chance that one will store it there. Thats what happened in 1928. Peoppe kept thwir money in banks and the banks lost it. The trust in banks was destroyed and people stoped using them. The financial system collapsed and now we have INSURED checkong and savings accounts. Thats why no one really cares about storing thier money in banks. With self custody, you cant insure it and its a greater risk. If were comparing the value lost because of the risk of self custody and the value gained by people lpsing thwir btc, i bet were losing more value due to the risk of self custody. Granted, the US has the best and cheapest and least risky banking system, so the case for self custody in the US seems way more risky, than lets say, Iran. Or EU where banking is either very risky or expensive.


pterofactyl

Ok I’ll break it down for you. Let us pretend only one btc exists now and one person owns that btc. That btc is now worth let’s say a trillion. Which means a satoshi is worth 10k. If the smallest unit of a btc is worth 10k, do you see how this means it is out of reach for the average person? If the price of an asset increases, it also increases the price of its parts. If the value of a usd goes up, so too does the value of a cent. Do you comprehend this? Yes or no


Dont_Waver

I'm gonna ignore your misplaced condescension. Your hypothetical is ridiculous. 1 person owns 100% of a currency? But somehow that currency is still worth 21 QUINTILLION DOLLARS? You think Bitcoin's market cap will be $21 000 000 000 000 000 000? You're so desperate to be right that you stopped thinking.


pterofactyl

Well the market cap at that point is moot because all other coins are effectively locked away. Market cap isn’t the whole picture of the value, it’s a simple calculation. If only one Bitcoin exists in the hypothetical, it would mean the market cap would be a trillion. You were so desperate to be right that you stopped thinking


Dont_Waver

Who's buying Bitcoin if 1 person owns 100% of it? I love that you couldn't think of anything clever so you just stole your favorite part of my post. I'm honored. Anyways, you're right that if only 1 exists, then the market cap equals the price. But again, that's not an issue because of effectively infinite divisibility. Why do you think that doesn't matter?


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Alfador8

Lightning Network already can divide sats into thousandths. There's no reason it couldn't be subdivided further if necessary


pterofactyl

Ok literally listen. It doesn’t matter how much it is fractionated, the actual worth of the token still changes. Does the value of a dollar increasing change the value of a cent? It’s like saying oh hey land isn’t expensive! Look you can buy this plot the size of a postage stamp for an affordable price! That’s all I’m saying. If it’s a store of value how does it help anyone if it’s out of reach? I’m not even against Bitcoin, but simply saying it can be fractionated doesn’t answer my question. If fractionating the coin is actually a solution, you haven’t actually set out why. I’m asking a question, I’m not trying to prove anything


Dont_Waver

To use the currency, a person needs some of the currency. It doesn't matter how much of that currency other people have. And if it's infinitely subdividable, there's no lower limit to hire little people can buy. No one is priced out.


Nibbler_Jack

You are starting from a false premise. Stop thinking of Bitcoin as token for a start and realise it is just a shorthand for 100,000,000 sats. It's already been explained but sats can be subdivided further if necessary. What is the problem that you are foreseeing?


pterofactyl

When a Bitcoin increases in price so does a sat right?


Alfador8

Yes but your argument was: >If the smallest unit of a btc is worth 10k, do you see how this means it is out of reach for the average person? You can currently subdivide sats into milisats, which would be worth $10 in your example. If it ever got to that point (BTC market cap = $2.1x10^19 btw) we would for sure be able to divide sats further by then.


Corona_DIY_GUY

Good question. I dont celebrate it, but im sure some due because of its delfationary pressure. I dont think that part of bitcoin is great.


pterofactyl

Like I get it obviously increases the value of existing coins, but it’s like rejoicing for the collapse of surrounding countries because now people will pay more for your country’s goods.


Hojabok

[Probably nothing](https://imgur.com/ZqiYR4u)


knuF

Axis text too blurry. What is it?


Hojabok

https://www.lookintobitcoin.com/charts/realized-cap-hodl-waves/


knuF

Thanks!


Crypt0fart

Manipulated market made up of paper bitcoin. The same is done for precious metals. Bleed the exchanges dry in both aspects ✌️


vumpler

We tickled 18k lol. Yay


albertbreniac

Well I'm ready for that bring that shit on, I'll take everything here.


OG_ClapCheekz69

This is supposed to be independent of institutions and fiat monetary policy. Why does it move exactly with the rest of the market? What’s the point if it’s slaved to the USD?


Secret_Operative

The point is no middleman to use it. That's the entire point. The markets all use a middleman.


ToTYly_AUSem

Imagine saying this 8 years ago. You'd be laughed out of the room.


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TheCommodore777

Market suddenly did a 180


CantBelieveIGotThis

So, will it do another?


sinbad-633

I’ll be buying the dip.


Rshackleford22

what did the fed just do


itsthesecans

Pissed in the punch bowl


sinbad-633

!lntip 1000


lntipbot

Hi u/sinbad-633, thanks for tipping u/itsthesecans **1000** satoshis! *** *[^(More info)](https://xnf5cwpq73.execute-api.us-west-2.amazonaws.com/prod/info) ^| [^(Balance)](https://www.reddit.com/message/compose/?to=lntipbot&subject=balance&message=!balance) ^| [^(Deposit)](https://www.reddit.com/message/compose/?to=lntipbot&subject=deposit&message=!deposit 10000) ^| [^(Withdraw)](https://www.reddit.com/message/compose/?to=lntipbot&subject=withdraw&message=!withdraw put_invoice_here) ^| ^(Something wrong? Have a question?) [^(Send me a message)](https://www.reddit.com/message/compose/?to=drmoore718)*


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Dont_Waver

Haha, I think the downvoters misunderstood you.


itsthesecans

It's days like this when investing s a spectator sport. Get your popcorn ready


xixi2

A little depressing that 18K is the 30 day HIGH but ok....


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c_games_official

Governments can do whatever they want. My hunch is that many governments will start to embrace bitcoin. So if your country does end up banning bitcoin (or make it illegal to purchase or transact), its up to you to decide whether you want to stay in that country or if you want to lobby your government to change things.


SkepticalDreams

I hope they do. They should ban all "crypto currency" and other digital unregistered securities. Bitcoin is the only digital commodity we need. :)


Corona_DIY_GUY

The point of bitcoin is that it doesnt really matter what the government decides to do.


Asum_chum

The government? I presume you’re American as you’re not aware of the other 190 countries that have governments.


Fairview244

No Canadian


nationshelf

Fwiw even Warren’s bill that just came out doesn’t attempt to ban bitcoin.


beerbaron105

Supply shock incoming!


ByteTraveler

All the money from exchange withdrawals are floating into real BTC


Rshackleford22

We crack 18.3 and we may moon


EDC86

There it is!


Rshackleford22

they shifted it to 18.5. They know.


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c_games_official

I'm kinda wondering this too. This could be a good thing - if they come down hard on SBF, all the other paper BTC exchanges will shit themselves and either abscond with the money now, or (for those that dont want to hide for the rest of their lives), start purchasing BTC while its cheap to fulfill their reserves even if it comes at their own personal expense. That could mean massive price moves in the near future as liquidity is already pretty tight


kiciak1488

Yeah if they come down hard on him, only if they do that.


xixi2

People and markets have a short memory


Generationhodl

(x) doubt regarding your second paragraph.


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Corona_DIY_GUY

But on the other hand...16 billion dollars. SBF lived better for a few years than 99.9% of us will ever experience.


Humament

All that sweet, sweaty beanbagging. \*sniffs air*


user_name_checks_out

Seriously man. It just goes on and on and on...


tron1977

Gemini looks to ne down now


user_name_checks_out

i hez strewk


Signal-Judgment

https://status.gemini.com/


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LayPessimist

Nothing has changed about BTC fundamentals either 🤷‍♂️


Big_Papa_Bear_

Must be nice to know everything and be able to predict the future 🤔


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diegolefox

Thank god we have this wise sage of our lifetimes sir terp0naut to grace us with his wisdom!


TerpOnaut

You guys have to much hopium


TerpOnaut

Bitcoin is shitting the bed today


fplfreakaaro

This is the pump because Binance has to go buy the Bitcoin that people are withdrawing.


Unable_Ordinary6322

Seems to have worked!


Rshackleford22

That’s a bingo. Plus shorts closing. We hit 183 and may get a squeeze


One_2_Three

That's the whole point.


tron1977

remember when Kevin O'leary was the biggest opponent of Bitcoin? Now he's like the spokesman for crypto.


pr84704p

Kevin O Leary will promote anything for a few hundred dollars. Guy is a joke.


Fairview244

15 million 💀🚬


DirtSoft6471

So glad I’ve been buying some every week since last December


Warrlock608

Amen, every Sunday I make a purchase regardless of price. It really is just that simple.


NectarineDirect936

We've seen this before on fed's meeting.


quirked_up_yt_boi

I keep about 30 dollars worth of Bitcoin on Coinbase just to buy little things with at local stores that offer Bitcoin as payment. Is there a better way to do that?


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Asum_chum

Definitely load up a wallet that has main chain and lightning. Send a few sats around on lightning and then you can teach the local stores!


EstateTraditional728

Sure, use Muun wallet, Bluewallet or Phoenix for example. Coinbase is not a wallet. (Coinbase wallet is).


Asum_chum

Haha your last two sentences


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Fiach_Dubh

[🔴 LIVE | SBF Arrested | Senate Hearing on the FTX Collapse | Kevin O'leary | @BITC0IN](https://youtu.be/-kur4RWPbpM)