Topic: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion - page 5692. (Read 26609569 times)

You claim to be a bull or whatever, and you have difficulties making any kind of reasonable and meaningful bullish statement.

At current prices there are various levels of Lamborghini Aventador.  So entry level is around $250k and higher end would be around $1million...   Let's just put the current medium level price at $500k of the sake of argument.

Accordingly, do really believe that it will take a generation (let's say 20-30 years) for bitcoin to do another 10x or less from here?  

The reality of the matter is another 10x could come in this cycle, and it becomes even more certain to be possible within the next cycle (absent something breaking in bitcoin).. so that would be another 5 years - hardly even close to another generation.

Yeah, there are no givens, including the asymmetrical bet of bitcoin, but these bearish assertions regarding what is possible in bitcoin seem to be failing and refusing to recognize bitcoin for what it is and how the prices are likely to play out... again.. nothing guaranteed for sure.



Another proclaiming to "wannabe bull" in bear clothings:

Bitcoin up 20x..

Bigmacs up 10x...

Something like that.  That seems a bit of a bleak picture.  You are correct, and it does not seem very realistic, either. 

You seem to be suggesting way more BTC price correlation to other asset classes that has NOT historically played out in the way that you are projecting.. but hey, you can be down-troddened all you like by trying to see a glass as half empty, when both the actual facts and the likely direction remains much more optimistic than you seem to be making them out to be.

Aha, now I see. Lender makes a btc transaction to the borrower. So, no longer the lender's keys. This checks out.

If the btc are not back by the given time, the collateral is released (to the lender, I suppose). So the risk would be an insolvent borrower AND the collateral not covering the "new" value of btc at loan expiry. This also checks out.

What does not check out is the following. Imagine being the borrower. Imagine being asked for, say, 200% collateral. Maybe in USDC/USDT? OK. So at expiry, if the btc you borrowed is worth more than the collateral, why give the loan back? Let the lender just have the collateral. On the contrary, if the btc you borrowed is worth less than half the collateral, give it back of course, and keep your relatively precious collateral. In other words: a shorter's paradise. (EDIT - No: it's more like an arbitrage, since it's impossible to lose if this is all there is to it.) Am I missing something? It's obvious I am, but I don't know exactly what - or I wouldn't be missing it  

Another thing that escapes me: if you can post, say, 100k usd collateral, why would you borrow a bitcoin rather than buying one - or two? For simplicity, I'm assuming 1btc = 50k$.

Biodom, have you been able to figure this one out?

Naah. It's an elephANT!

Believe me, I am skeptical myself and so far never lend out any, but you can call me curios since there is no tax event, no wrapping and no cough-eth-cough involved.
Here is what that head honcho says (scroll down to especially 6-9 in the thread)...and don't shoot the messenger:
https://twitter.com/muneeb

my guess would be that most risk would be that btc price growth might exceed the posted collateral. If so, this might be a weakness.
Is that head honcho trustworthy himself? Remains to be seen, but they were associated with George Gilder afaik.

You are wrong, it's an Elephant Ant!!! Such huge, I never seen in my life 😂

Sorry, Biodom, but the above highlighted statement doesn't make any sense. Either you misread it, or they're lying to you.

---

Edit:

WOers: just try to be extra careful in what you believe out there. Now that Bitcoin is slowly but noticeably gaining the recognition it deserves, and its price is approaching $100k/BTC, there will be loads of "profit schemes" (this reminds me of something) appearing like mushrooms, to tempt you into giving custody of your BTC to them, so that you can "earn interest" by lending your coins out. So, you could end up handing over your precious keys to some website that promises 10% interest or other tempting offer, and at some point you won't be able to log-in, and then you'll know your coins are gone! Don't be greedy. Bitcoin's price has risen so much over the years, and will continue to get even higher, up to $millions/BTC. What more do you want? Does an extra 10% gain on your stash really justify handing over your keys? Fuck NO!

Don't be a fool.
Don't be a weak hand.
Don't mindrust your stash away.
Just HoDL.

How can you actually lend bitcoin and keep valid keys? This is unclear. The devil is in the details, of course. If it sounds too good to be true, it probably isn't, not your keys not your coins etc. But now that's it's "temporarily not your coins", does it imply "temporarily not your keys"?

IOW: This sounds really sweet, but we do need more details about Robin, even if it should cause a few Batman slaps 

100%, I think eventually we will see secure, trustless DeFi of some description integrated into Bitcorn in one fashion or other. I for one would be happy if we could gain the power of smart contracts, ZK rollups etc (the most useful parts of the shitcoin casino) without sacrificing the security, trustlessness and permissionless nature of Bitcoin. There are some really promising projects in development at the moment that I won't go into further, but I encourage all to be open minded.

In my eyes this is possibly the most maximalist viewpoint you can have, the idea that in the end Bitcoin will absorb any improvements from other chains/coins that are truly useful, thereby rendering all other versions a crappy "imitation" even if they were the originators of the upgrade!

@RD_btc
Yup BTC

https://twitter.com/rd_btc/status/1379162725843136519?s=21

https://www.youtube.com/watch?v=6dLxtIImtFU&t=8s

A Frog?

Here is an interesting question to ponder: If a 'shitcoin' only wants to work with bitcoin and simply wants to build smart contract functionality on bitcoin, then is it a 'shitcoin' or maybe a Robin to btc's Batman?
We already have Liquid, Microsoft ID and now another one (check yourself which one it is), which you can stack using bitcoin blockchain.

Incidentally, it is up a lot today, probably mostly because it's head honcho declared that they will have btc borrowing capability with NO asset exchange or wrapping (pure btc lending with NO third party, all on btc blockchain).
Sounds unbelievable, basically a decentralized Blockfi.

I am quite curious about it. Main theme: You still have keys to your btc, but able to lend it out.
Not sure about specifics, which are important, of course.

There was a time where 59k would be the most incredible thing ever. However after the past few weeks it's been kinda....

Oh boy.... it was just a sarcasm...
because i felt that El duderino_ already gave all the oblivious hints...

Well any way... sorry to tell you guys... but you all are wrong... it's an ant!!

Already posted?

https://twitter.com/vikrantnyc/status/1378829801159585793



FWIW, I do not know lot's about Vik Sharma, but I believe he is the developer of the Cake Wallet (Monero) and is considered a fairly reliable, in the know, sort of person... Not likely he would make up stuff like this...

PPS.  Hmm... he is also the person who predicted Oracle was coming in a while back.. so nevermind... probably just baseless rumors.  But I am leaving it for conversation value.

It's a bitcoin bear who is unable to gain anymore power.

I'm sure I've seen that type of animal used in American politics as a logo. I'd say donkey.

It's either that or it's a Bitcoin humpback whale.

Not sure but if I had to take a guess, I'd say a bull or a bear.

Elephant!!! 😂

^
Didn’t saw you calling it correct though