Jesus.. let's just say there IS a CLEANEST translation from fiat to bitcoin standards, how would that work?

Let's say tomorrow the US government says "bitcoin is king, we are transitioning our economy onto the bitcoin standard. All us debts and loans will forevermore be denominated in satoshis and as of today one USD is valued at 1 satoshi. All current USD holdings have a window to sell your cash or buy USBTC bonds. That is all.


What ****ing chaos that would be?

Has anyone imagined the scenario playing out? Let's say it's 100% guaranteed the US or state by state adoption of a bitcoin standard... does it take a state measure or does the public just stop using usd because the money printer never turns off?

It's gonna be some ruinous **** for the right people and the wrong strategies.

So much talk about why it won't, but very little about the steps to transition to a bitcoin standard.

Dump any thoughts

I have a hard time believing we will ever transition to a bitcoin standard.

I think it will always just be like digital gold/property, even though it is better than the fiat currency.

What are your top crypto coins I should jump in ?

I never come on here

Large institutions probably take a look at their books at the end of the year, and probably will look to add thing (like BTC) at the beginning of the new year, right?

Well, I'm flattered.

That’s why I said “the graph below, but even more extreme.”

We see a race between technological hyperdeflation & state-caused inflation, possibly hyperinflation.

Tech turns a pricy radiologist into a cheap AI, while the state turns a grocery trip into an expensive affair. https://t.co/elh81nnl9f

— Balaji Srinivasan (@balajis) October 25, 2021

I dont know why I post this here, it's a trading thread and this is futurism, but I think inflation plays a major role in marketing for not traditional finance.

Interesting thought to ponder as technology deflates what it touches and govt inflates what it touches.

How does USDC work? I just buy and hold and it gains interest?

When BTC flips gold at around 9 trillion the idea and concept of BTC will most likely resonate with the populous. The build up will carry mass adoption along but the evolving utility will need to be considered in futureplans.

I believe it will remain a store of value but more akin to developed real estate. I see it being loaned out and borrowed against very soon. I think digital identity (DID) will play an enormous role in how BTC moves forward along with the entire space.

I think it belongs here for those that look far down the road and always consider what isn't being factored yet.

I like this line of discussion. This is fascinating stuff. It's the kind of massive disruption that only happens during the changes of ages ie from the Industrial Age to the Information. There should be massive leaps forward in technology if we can keep the ****ing government from destroying it.

Screw the government!

I've quoted colonel Ludlow twice today now.

hedge said:

---

What are your top crypto coins I should jump in ?

---

DOGE

Yes I assume the same about AE's methodology from that regard. I asked about "technical" analysis more from a price action prediction standpoint for a more educated guesstimate approach to DCA stacking.

I'm working my way through all of the aforementioned at the moment.
I was mildy aware of RSK previously but this lead me to Stacks.
After a bit of prelim searching, it looks like Stacks will be more of a launchpad/grant funding system for BTC layer 2 dev projects. I think it should only help encourage exploration of new ideas in the ecosystem.
IMHO I think Sovryn needs a front end redesign to be more approachable/user friendly as it's already a bit of foreign territory in the BTC space.

Money OnChain is supposedly the layer 2 stablecoin for BTC defi that will be used by the Sovryn/RSK/Stacks solution.

TBDex is Jack Dorsey's new BTC DEX/Defi offering coming soon. Should be interesting and I have to think it will have some merit as bullish as he is on BTC and the tech connections he holds.
See the URL for the whitepaper on the project issued around Thanksgiving of this year.

https://tbd54566975.ghost.io/introducing-tbdex/

One of my biggest questions/uncertainties at the moment is how I (or others) can justify investing assets into one of the layer 2 projects rather than just purchasing more bitcoin? but I guess this conversation changes if the price touches or exceeds $100K as that money goes alot further in a DeFi setting in the short term.

My confidence in BTC is less a metric of my belief in the fundamentals (note: I do believe the principles of scarcity & decentralization are sound) but more in my EXTREME confidence that our government will continue to destroy our economy and status as the world reserve currency by devaluing the dollar into oblivion by allowing the Fed to print endlessly. Very rarely have you seen instances of someone spending their way out of debt.
CBDC are not going away unless there is an immense (read: revolutionary) over turn of current systems of power, economy/commerce, etc. I foresee a USDC type CBDC being the actual operating currency of the country's primary population which will likely continue to be leveraged as a form of tyrannical control over those who walk headlong into servitude.
I envision BTC as more of a multipronged asset as a store of value vehicle similar to gold but dissimilar in the fact that this provides the opportunity for individuals with these holdings to operate on an entirely separate / exclusive global economy. The only obstacle I see being an issue is ultimately there will be a need for some form of obfuscation/privacy for transactions to avoid outside interference/monitoring. A sort of hybrid solution like if Monero & Tornado Cash had a BTC sidechain / layer2 baby.

I think this still finds a relative thread due to the increased offering of AI & big data blockchain cryptos as well as the rise in teledoc/medAI offerings in the sector.

There will very likely be a few 10x out there to be had in 1st half of 2022

My thoughts on how to test/invest/play with other projects:

Make a budget. No more than 10% [maybe less] of your total bitcoin wealth to mess around with other protocols and layer 2 applications until competence/confidence is proven.

Time budget is important too. I'd spend majority of your initial bitcoin time investments into your individual and family planning for generational wealth and transition to family after your death, making hardened and well worn best practices to keep you and yours safe from thieves or governments (thieves).

I do like Monero, I am uncertain of its longevity if we get coinjoin finalized. Most everything else out there is trash, imo.

Stakers can change the validation rules on you. Stakers can withhold valid transactions from the ledger. You necessarily have to trust them not to do these things b/c you have increasingly less ability to countervail their control authority if they start breaking bad.

— Jason Lowery (@JasonPLowery) December 19, 2021

P.S. We already know that the largest group of stakers will be an anonymous group of pre-miners called the Ethereum Foundation who are led by a Russian guy.

🤷‍♂️

IDK what else to say guys.
I will never recommend ETH as US reserve asset.

— Jason Lowery (@JasonPLowery) December 19, 2021

Adidas had a NFT drop on ETH, and made 23 million essentially instantly. For reference quarterly profit is ~520 million.

NFTs were minted for 0.2 ETH, and floor is already 0.8. So purchasers are sitting on 4x profits!

Adidas placed a limit of x2 mints per NFT on the sale and almost immediately an enterprising degen also created a smart contract workaround to net himself about $600K by minting a boat load from the single NFT purchase.

Better mouse trap? better mouse.

ThreatLevel: Midnight said:

---

Adidas placed a limit of x2 mints per NFT on the sale and almost immediately an enterprising degen also created a smart contract workaround to net himself about $600K by minting a boat load from the single NFT purchase.

Better mouse trap? better mouse.

---

Yes!!! This space is so crazy right now. Definitely some exciting things going on.

Taking votes for where to throw $500 as a flyer. Must have a <2B mkt cap. Plan buy on 12/31.

TIA

I guess the first question I would ask is what is your timeframe/investment maturation window? days? weeks? months?
I'm guessing not long term due to the amount.

NTXAg10 said:

---

Taking votes for where to throw $500 as a flyer. Must have a <2B mkt cap. Plan buy on 12/31.

TIA

---

LRC is close...

Doesn't matter. I'm 98% BTC after consolidating my ****coins over the last 30 days. Looking for a possible 5-10x to fund addtl BTC purchases.

YFI could be lighting the beacon for Defi

Dorsey gets it.

https://cryptobriefing.com/jack-dorsey-slams-web3-again-citing-venture-capitals-dominance/

A month or so ago someone referenced a twitter post from somebody with a scary good track record of predicting bitcoin. I believe he stated a big dip into the 30s in January then a serious climb up the rest of 2022.

Anybody remember who that was?

It doesn't matter. Nobody knows what BTC will do. Full stop. I spent way too much time following Plan B and he turned out to be very wrong and it cost me a good bit of money.

Has anyone heard that China is liquidating all their citizens' BTC and that's why we had the huge dip?

Friend of mine told me this yesterday and was wondering if anyone else had heard.

Merit Circle MC just listed on Gemini. Big fan of this one and a 270mm market cap. Play to earn gaming project, already has Axie Infinity. Big VC backing also.