Bitcoin infrastructure sure is coming together. This is the kind of headline we dreamed about back in the days when Jamie Dimon was shitting on crypto.
Sentiment tracker (2021) 2 replies
DislikedThis Venmo news should be pushing BTC higher. I'm putting the odds at 80% that the rally is over, ie we're not going to see $70K this year.Ignored
Disliked{quote} I kindly disagree sir. There are 8 Bitcoin ETF pending with the SEC with a final reject or approved deadline in November for 3 of them. We still have a lot of running room IMO.Ignored
DislikedThis Venmo news should be pushing BTC higher. I'm putting the odds at 80% that the rally is over, ie we're not going to see $70K this year.Ignored
Disliked{quote} The ETF story was exciting when it would bring BTC to the masses, but at this point the masses already have access and are heavily long. Even Robinhood allows crypto trading. So who do you expect these ETFs to bring to the market?Ignored
DislikedBitcoin ETF will allow major institutional investors the ability to gain exposure to BTC.Ignored
Disliked{quote} What exactly do you mean by "adoption"? Using it as a currency? Currency usage does not lead to currency appreciation. {quote} Huh?? Any grandpa can buy BTC through any number of brokers, Paypal, Venmo, etc etc. If grandpa can do it, you can bet institutions are running into no hurdles. They're already long, as evidenced by the $1T market cap.Ignored
Disliked{quote} Huh?? Any grandpa can buy BTC through any number of brokers, Paypal, Venmo, etc etc. If grandpa can do it, you can bet institutions are running into no hurdles. They're already long, as evidenced by the $1T market cap.Ignored
DislikedThe masses aren't making large crypto purchases using Paypal & Venmo.Ignored
DislikedAnd institutional money is not in the space like it will be when ETFs are approved. You underestimate the restrictions at most of these places, and even after ETF approval there won't be a mad rush in. They'll dip their toes in the water until they can get comfortable with BTC and realize the boogeyman isn't real.Ignored
Disliked{quote} True, but I don't think currency usage will play a factor in the price (it's the other way around -- price stability promotes currency usage). Bitcoin is clearly a value-store in 2021, not a currency. The BTC dev community puts little focus on transaction speed, which to me signals they aren't even trying to make it a currency. I think we can ignore anything currency related when looking at the BTC trade right now. This thing is huge beanie baby, ie only a well-timed exit will make money. Btw, if you're looking for the guys trying to make...Ignored
DislikedAlso if we're saying price stability promotes currency usage (agree 100%) and BSV will be a widely used currency doesn't that mean there's limited upside in price? What's the incentive for me to put my capital there now?Ignored
DislikedI'm putting the odds at 80% that the rally is over, ie we're not going to see $70K this year.Ignored
DislikedEven feeling good in the face of this rally. Looks like a last gasp to me. {image} I suspect this week will leave me feeling like a genius or a paranoid idiot.Ignored