TBH, I'm getting tired of hearing about these third world countries claiming they're getting into Bitcoin, but then not really doing anything. And by 'anything', I mean more than just talking about it or just making it a legal currency. I want to see them buy bitcoin as a reserve asset by the tens of billions! Piss or get off the pot! Drain every exchange dry!
I share your frustration, and appreciate the negative tone. We need more adoption and less talk about it. However, this is the kind of news I like to read and discuss in this thread, it's relevant.
While trying to be optimistic and perhaps a tad bit delusional, I'm waiting for that crucial moment when Bitcoin price breaks free from the "black hole stonk market" and takes off on its own merit. I think this will happen gradually as the masses stop chewing the misinformation (propaganda) and start making the right moves, not necessarily because they are smart, but because Bitcoin will be one of the few lifeboats around when the hyperinflation takes off. The sooner the adoption happens, the better off the world will be. If countries do this as a national effort to mitigate complete collapse of their economy, even better.
Even though I find the correlation theories (focusing on BTC's supposed correlation to the stock market specifically) to be a wee bit lame, and also frequently overstating the case, I would imagine with the passage of time, even if there might be some implosions along the way, bitcoin seems to be quite likely to become more correlated with the stock market rather than less correlated.
Nonethelss, fuck that stupid-ass misleading idea.. unless it is attempted to be recognized and appreciated within somewhat of a proper context..
In other words, even looking back at ONLY the last 10 years of bitcoin's price history, bitcoin is correlated as fuck with the stock market, except when it is not... .so yeah, there is a distinctive difference in which the whole time, bitcoin is correlated as fuck, especially if we select out those periods in which bitcoin experienced various 3x to 20x step laddering to the UPPity side along the way. If we just remove each of those periods in which bitcoin did a wee little step ladder up 3x to 20x, then bitcoin is correlated as fuck with the stock market. That's what people seem to be saying in regards to bitcoin's supposed correlation with the stock market.
Yeah, seems to be quite likely that in the future it is going to be quite a bit more difficult to get on the higher ends of those various step ups that are in the 20x arena in a short period of time, and so the step up periods are likely going to bet smaller.. maybe only 2x to 10x and the 10x spurts might start to become way more rare... but still, it still seems to me that part of the formula for attempting to appreciate bitcoin's likely ongoing investment thesis remains that it is going to continue to plow away towards ongoingly increasing various networking effects.. and those increases in various kinds of adoption is going to continue to contribute towards the ongoing recognition and acceptance of Gresham's law assignments of bitcoin's ongoing superiority in comparison to any other place that you can put your money.
Yeah, it takes a while to sink into the heads of both nocoiners and precoiners and of course, no coiners seem to fit into a category of the more stubborn who seem to want to fight and fight and fight the overrall value proposition of bitcoin and its investment thesis.. and surely some of those nocoiners happen to be used-to-be coiners who sold too much too soon, and to some extent those of us who have been in to bitcoin for a while should continue to attempt to feel some levels of empathy for some of the actual psychological difficulties that many of the used-to-be coiners have to endure in terms of justifying if they will ever get back into bitcoin or just suffer until death refusing to put another penny into bitcoin... because the price never ended up coming back down to their selling point.
Anyhow, it seems to me that bitcoin is always going to be correlated with the stock market at various points in time, except when it is not.. and surely, I consider the correlation framework to be misleading even if it is mostly true.. but those periods in which bitcoin is not correlated surely do seem like they make a pretty BIG ASS difference, even the most recent jump up from $6k to $60k and so far bitcoin has ONLY come down to 5x.. so yeah, except for that little 5x to 10x step up in BTC's price, BTC has mostly been correlated with the stock market.
adoption adoption lmfao 🤣 🤣 🤣 🤣 🤣 🤣 🤣 🤣 🤣
You would laugh... because to the extent that we can believe any of your story, you are a case in point example of a either a used-to-be coiner.
Sure you failed/refused to buy at various points in time too... always waiting for cheaper or even free coins..
Quite pathetic regarding your awareness of bitcoin, but your failure/refusal to take any kinds of meaningful actions beyond either begging or making fun of BTC price correction periods as if you knew anything beyond trying to figure out if you might be able to get something for free or low or no effort.
