Happy Bitcoin Pizza Day, everybody!
. . . You do know about Bitcoin Pizza Day, don’t you? On May 22, 2010, Laszlo Hanyecz, a programmer from Florida, paid 10,000 bitcoins for two Papa John’s pizzas—the first recorded bitcoin transaction in history. Now, May 22 is observed in the crypto community as “Bitcoin Pizza Day” and is no doubt celebrated with many a pizza order.
At the time of Hanyecz’ iconic pizza purchase, 10,000 bitcoins were valued at $41. Precisely 15 years later, on May 22, 2025, bitcoin hit an all-time record high valuation of nearly $112,000. That means that, in today’s prices, Hanyecz paid over $1,000,000,000 for those two pizzas. I hope they tasted good.
So, are you looking at all of this Bitcoin Mania 2.0 (or is it 3.0?) and scratching your head in wonder? If so, welcome to the crypto party. You must be new here.
Dedicated Corbett Reporteers are, of course, not new here. They’ll remember back in March of 2017, when the price of one bitcoin surpassed the price of one ounce of gold for the first time, prompting me to write “Bitcoin Over Gold: What Does It Mean?”
And they’ll remember back in December of 2017, when bitcoin broke the $10,000 mark for the first time, prompting me to write “Bitcoin $10,000: What Does It Mean?”
Given that we’re now past the $100,000 mark, I’d say it’s time for an update to that article, wouldn’t you?
So, without further ado, let’s roll up our sleeves and get to work answering the question everyone is asking: what the hell is going on with bitcoin?
People who say it’s CIA or NSA should read the book: The Genesis Book: The Story of the People and Projects That Inspired Bitcoin.
“First they ignore you, then they laugh at you, then they fight you, then you win.” is applicable to bitcoin.
Chokepoint 2.0 made the way for the ETFs so Blackrock can get your bitcoin. Now they will start offering yields and you will once again trust the banksters and you’ll lose. So what to do? Buy bitcoin, you boycot the fiat system and all evil that comes with it, store bitcoin on a hardware wallet, you boycot Blackrock and all evil that comes from that and whatever fiat you have left spend it local. Not very hard to do is it?
Im seriously tempted to do this.
..though I don’t have a pc, all I use is my phone and have no idea how to use crypto.
You don’t need a PC. Did you ever travel to another country and you needed to exchange currencies? It is not more difficult than that.
Midnight
You really ought to get a PC or laptop to play with if you like to store media or if you want to go all secret squirrel with encrypted messages and such.
If you can drop a very small amount of money you might be able to pick up an old computer in a thrift store, or get one off Ebay or whatever, and run Puppy Linux off a ‘live’ USB drive – no need for even a hard disk! Puppy will run super fast even on a potato…when you get started you’ll be suprised at how you can knock a computer up out of cheap parts or use a computer someone threw out because the Hard disk died.
If you Youtube ‘live USB linux” there are plenty of videos about how to do it, you’d need to borrow someone elses PC to make the USB though.
Puppy Linux video
https://www.youtube.com/watch?v=fxc2WZl_Cj4
puppy downloads here
https://puppylinux-woof-ce.github.io/
Great post, James. I’ve owned Bitcoin since 2018 and it’s served me well (watching it go up 6x allowed me to write two books with the economic freedom it helped bring), though I’m cautious about its future reliability. I’d like to believe it’s just unstoppable and secure and that’s why the oligarchs are getting onboard after recovering from crypto hesitancy.
It’s telling which cryptocurrencies cannot be (easily, and perhaps lawfully) obtained where I am: Monero, Pirate Chain, Dero and other private coins.
Are you in the U.S.?
No Paul, outside the U.S. but in the English-speaking realm.
Do keep in mind that the high price is due to “schmucks” (as Max Kaiser refers to them) coming in late to the party. These people finance the spikes, take a hit and sell back to the market soon thereafter, with a net loss.
Also, due to inbuilt technical limitations, much of the bitcoin holders could be whiped out at any given moment, as soon as an opportunity arises.
This is a big boys game and for some to go big, a lot of others have to go home.
I remember Max Kaiser from RT. Max and Tabitha. I remember her name from the RT rap song about what shows (and their hosts) were on the channel. I miss RT.
I remember that show, but have forgotten the others.
I thought she was Stacy? Or is that some other girl?
Been a while since I saw max K, dude was quite amusing to watch. He is probably mega rich now if he actually collected Bitcoin as much as he told people to.
Please reach out to the BCH community. They are all about one thing – freedom. And I would argue, BCH is the original bitcoin. BCH is what I support and you should to… peer to peer… at least, check them out. We all already know that BTC has been compromised.. Roger Ver wrote a book on it.. now waiting for jail. I met the man and he is awesome! Free Roger.. Free yourself by buying BCH.
“ Maybe bitcoin and all its cryptocurrency brethren were always intended to be the basis for a system of digital currency control”.
And I still believe that…even more so now, that all the ‘big boys’ are jumping in on this train. And once digital identity and controlled access to the internet comes into play, certainly on the horizon now, you will wish for a commodity that you can hold in your hand. Wait for it. It’s coming.
Just look at what happened in China. They seem to be a testing ground for certain types of control.
Bitcoin certainly held the price of gold down by sucking up spare cash that normally would have gone into it. If bitcoin didn’t exist I bet gold would be at crazy highs.
As to bitcoin being a bubble, it certainly is but I once heard something like gold is a bubble, that’s lasted theee thousand years. lol. I am too poor to own either but I think gold will still be in its bubble after someone cracks encryption or the internet goes down….. I doubt very much that they can prop the dollar up with crypto for long, but since I never thought bitcoin would be a real thing what do I know? Lol
Your gift of 0.01 BTC to anyone who would send you a wallet address got me started. I still have that 0.01, which at the time was worth $12. Now over $1,200. I have never forgotten your desire to get us started on the Bitcoin journey. I have been stacking ever since, and owe it all to you. Thanks, James!
Second this. I remember James’ generosity that time. I also first heard about Bitcoin on this site back in 2013 when James interviewed someone on the subject (can’t remember his name now -anyone?) and bought I bought my first Bitcoin in 2014. It literally pays to follow the Corbett Report!
BUMP
BUMP
BUMP – Historical Record
Late February 2017 –
James Corbett gave away FREE to CorbettReport Members 0.01 BitCoin.
The give-away occurred during this episode Who Coined the Term “Useless Eaters”? – Questions For Corbett https://www.corbettreport.com/who-coined-the-term-useless-eaters-questions-for-corbett-034/
If you read the comment section, a lot of folks participated in that opportunity.
Here is the YouTube video queued to where James talks about Bitcoin. Around the 21 minute mark is the “give-away”.
https://www.youtube.com/watch?v=6NuLWCHvkc8&feature=youtu.be&t=16m32s
Tx for that, Home Remedy! I followed the link, re-watched the video, and went down through the comments to find my own reply to get my .01 BTC, and to see roughly how many others sent James a wallet address. He replied individually to each one, confirming that the BTC had been sent. What a great guy! I saw your comments there too, always active in the comment section. God bless!
Thanks James, quick question.
If they replace USD with a stablecoin, say USDT and the value of the USD tanks wouldn’t that cause their stablecoin to tank as well? Or am I missing something? (Probably)
Paul823
Pretty sure your right IF they can create infinite stable coin like they create infinity dollars…..on the other hand if stable coins are limited to a fixed amount that can be mined then it actually could be stable- but then the gov would only be able to spend what it taxed, which means it would shrink super fast.
They COULD do an in and an out country currency (iirc china does that now) so if you take an e-buck overseas it would be worthless but big players would have “hard” e-bucks.
They could also do all manner of trickery with hypothecated e-bucks so you would just be using company script and never get “real” (lololol) e-bucks but just numbers in your account
The problem is that all the big players love soft currency that lets the gov spend endlessly while the plebs are too dumb to realize that inflation pays for it, and also lets the people running the system skim value from plebs without anyone understanding what’s happening….. any “fixed” currency will
Make that harder for them which is why they have spent so long dissing gold which has a (unknown) fixed amount available.
Either way most people on welfare or pensions will have their income inflated away to poverty- it’s happened before even in the US.
Thanks, we shall see I guess. So what do you think is the best move forward? Privacy coins like Monero or ARRR?
Paul
Rice and beans 🙂
Though tbh I bet that people can probably still make a load of money on crypto- it’s just that unless your doing dodgy deals on the internet (in which case monero) it LOOKS ( to my uninformed eyes) like crypto is not going to become a replacement for money and will “eventually” get shunted off stage by a Gov Coin….. but don’t let my opinions put anyone off using it. That day may be decades off.
If I was a rich guy I’d have a stack of gold….thatbwill always be worth SOMETHING Zam’s is easy to swap even without power.
If I was a smart guy I’d have stacked gold at 300 an oz
So now I’m a rice and beans guy 🙁
Of course. One stablecoin is backed by one dollar. If you can’t buy the same stuff next year that you could buy this year the value of the dollar went down. So will the value of the stable coins. Dollars are infinite so are stable coins. Understand the business model of these stable coins issuers. They get dollars, you get stable coins. They buy Bitcoin and US treasuries and get yield. you are holding US debt indirectly. You should do the same. Buy Bitcoin, don’t hold stable coins.
Think about it in this sense – Monetary inflation (printing dollars) causes price inflation (costs going up) because it is ‘more money chasing the same amount of goods’. By fully embracing and backing something like USDT it allows them to export the money to more people, thus cooling the effect of the price inflation. The U.S. Government backing USDT would allow anybody in a second or third world country who has a smart phone to decide if they want to interact in their local currency or in a USD analogue. U.S. Government still gets the benefit of inflating away interest rates, and still gets to give first access to new money to their cronies.
Hi James,
In reaction on your article, here’s an interesting (maybe mad) analysis,
https://www.martinvrijland.nl/en/news-analyses/goud-voor-bitcoin-wisseltruc-aanstaande-buckle-up/
and his previous post about this
https://www.martinvrijland.nl/en/news-analyses/waarom-trumps-tarievenoorlog-ons-persoonlijk-zal-raken-uitgelegd/
saying:
“ The Problem and Consequences
This is a disaster for the Treasury. Higher interest rates make that $9 trillion more expensive. The deficit is growing. A dump causes panic, like in 2020. Hedge funds collapse. The Fed then has to print trillions more. If China goes ahead and Japan does join in despite the carry trade, confidence in the dollar wavers. Gold and yuan gain ground. The U.S. loses its money printing power. The $1 trillion interest rate becomes a noose that pulls even tighter. This is no accident. It is a breaking point.
Trump’s Way Out: The Bitcoin Revolution as Salvation
But what if this is the plan? Imagine this: Trump is using this chaos to break and rebuild the system. The $36 trillion debt and $9 trillion refinancing are unsustainable. The dollar is tottering. The Fed is empty-handed. Trump is seizing his opportunity. He is switching to a Bitcoin standard. How does that work? First, the Treasury revalues the paper value of America’s gold supply. The US has 8,133 tons of gold, officially valued at $42.22 per ounce since Nixon’s time, good for $11 billion. But its market value in 2025 is around $3,000 per ounce. That makes gold worth $24.4 trillion. Trump is adjusting the books to that real value. Then he sells some of this gold to London. There, 90% of the gold trade is unhedged. London, the center of the gold market, craves real gold to shore up their claims. Banks like JP Morgan and HSBC are buying eagerly, yielding billions of dollars. With that money, Trump is buying Bitcoin en masse. There are only 21 million Bitcoins. As demand rises, the price skyrockets. Trump creates a new digital dollar, linked to Bitcoin via blockchain. With this currency, he buys back all $36 trillion in bonds. The old dollar collapses due to hyperinflation. The debt disappears. The Fed becomes obsolete.
This is not a gamble. Bitcoin is digital gold, scarce and unbreakable. It replaces the fiat system that has failed since 1971. China and Japan lose their power over bonds. Their dump becomes irrelevant. The $1 trillion interest rate disappears like snow in the sun. Trump resets the economy. Trump resurrects as the leader of a new order. The trade war was the fuse. The bond crisis the fire. Bitcoin the rebirth”.
(you can select language English for his website)
Quite some view, to say at the least.
(edit: sorry replied to wrong post)
I guess anyting is possible at this stage, but why, for the sake of Kermit the Frog, do you keep referring to ‘Trump’ as if this was part his great 4D chess game and not simply because it’s his bum warming the chair at this point? Surely as a Corbetteer you must know by now that ALL politicians and completely interchangeable and expendable and if it wasn’t Trump in office the same things would be unfolding under someone else?
Paul
“….Surely as a Corbetteer you must know by now that ALL politicians and completely interchangeable and expendable and if it wasn’t Trump in office the same things would be unfolding under someone else…..”
I don’t believe that is so – NOT that I love Trump or think he’s going to save us or anything – but I actually do think things would be unfolding differently under someone else.
Possibly the END point is the same, or very similar, but at the very least different power groups use different political puppets as the fight over power. The people in power dont have the same interests all the time, they get into fights, and Trump apparently is the figure head one side of that fight chose. I don’t buy for a minet that his victory was decided by unanimous vote of the oligarchs because the amount of distrust and civil strife and unrest caused does not make them more secure and gains them nothing
One of the evils of mass democracy is that it hides who is actually running things and what they’re doing.
Your calculations as to the value of the US’ gold at $3000 an oz is out by a factor of around 31.
784.445 $billion is what the alleged 8,113 tons of gold would be worth at $3000 an oz.
Effectively a drop in the bucket when compared to the current 36.9 $Trillion of debt and counting.
Edit, I see what you have done. You have based your calculations on it being $3000 a gram and not a troy ounce at 31.1 grams
Then there’s this statement about Bitcoin from Martin Armstrong.
“ I’m sorry, but money that depends on the power grid and can be programmable subject to a bank -debanking you, is not a sustainable monetary base. This would lead to an economic recession and a restriction on commerce”:
https://www.armstrongeconomics.com/world-news/cryptocurrency/is-bitcoin-1929-or-dot-com-bubble-all-over-again/
And:
“In conclusion, the potential risks in electronic commerce are magnified when anonymity is present. Anonymity creates the potential for large sums of counterfeit money to go undetected by preventing the identification of forged coins. Anonymity also provides an avenue for laundering money and evading taxes that is difficult to combat without resorting to escrow mechanisms. Anonymity can be provided at varying levels, but increasing the level of anonymity also increases the potential damages. It is necessary to weigh the need for anonymity with these concerns. It may well be concluded that these problems are best avoided by using a secure electronic payment system that provides privacy, but not anonymity.”
The US government released this document in 1996, 27 years ago. Bitcoin was allegedly anonymously created in 2009, and numerous other blockchain-based payment coins have followed. This, paired with the push for CBDC, where the government simply does not need to pretend payments are anonymous, should make one question the security and longevity of cryptocurrencies.
https://www.armstrongeconomics.com/world-news/cryptocurrency/bitcoin-the-end-of-money/
He also states in interviews that Bitcoin is used by TPTSNB to transfer their wealth.
James, you should interview this man. You have a different view on the Fed, it would be good if he watches your docs on this and then, in an interview he can comment and explain.
Will you?
Please?
I’d like to hear that interview!!
## Depending on the power grid
Bitcoin depends on the power grid because it’s a fairer game than relying on experts to set monetary policy. It anchors the digital world to the physical world.
Bitcoin’s difficulty adjustment smooths out issuance to follow the predetermined schedule regardless of if a few power grids go offline for a while.
## Programmability
When you receive real bitcoin, it’s up to you to provide the receiving address, which implicitly contain the programmable script you want to encumber your funds with.
I don’t think anything is safe (or effective) under present circumstances. People with real power have decided to bring in their “new normal” and until enough of the other eight billion wake up they could have us all walking on our hands to reduce our carbon footprint.
James, I wish you would embrace bitcoin more. If you have explored sending Bitcoin on lightning or zapping on nostr, I believe you would warm up to the idea more.
I 2nd glass’ post.
There is an entire speech and economic freedom-tech ecosystem developing and most people are unaware it’s taking place. IMO, it’s very compelling:
https://primal.net/e/nevent1qqsqd8exd6x5f37q6qhv7rag6ygtx97yzwelmu7zhms499t7a0520ds97m8pu
And as for James’ forthcoming article “Bitcoin $1,000,000: What Does It Mean?”, I’m hopeful he will have a more optimistic tone regarding bitcoin. Time will tell.
Good last sentence James, Monero all the way!
It’s great to be weary of digital solutions in general but I still think it’s a bit early to write Bitcoin off completely. If one is able to invest I still think its irresponsible not to own some fraction of Bitcoin specifically. Not through an ETF, but through self-custody. If you want to hold Monero for idealistic reasons and some nice technical aspects, also be pragmatic and realize Bitcoin has mind-share and the snowball is rolling down the hill, and will probably grow bigger. Hold gold/silver too.
Don’t let resentment harm your future selves, I hate to see Corbett Reporteers left behind.
I feel that all of Bitcoin runs off of faith that Satoshi will “never sell” Wait for the day one Satoshi is moved from one of those wallets. If bitcoin will stay in the future everyone will prob get another entry when the bubble pops back down to 45k or less. The other problem I have with bitcoin is that Blackrock is in the works of creating there own bitcoin. Once they do that all the institution will just go over to the other Bitcoin and crash the one we hold on a different blockchain.
Side note for James (and everyone else) LOOK INTO https://x.com/59Buckazoids from the video game space quest game from 1991 that had the bitcoin logo in its video game currency. There has been a team of historians digging into every attached to bitcoin and now a growing theory that Satoshi and this game were related. They are also relating it to transhumanism “project B59”
Geopolitics & Empire interviewed Mathew Crawford, BitCoin promoter, and Gabe, former Corbett guest. Mathew saw BTC going to $10M and, as a reserve currency, erasing the Treasury debt. Gabe, who’s been researching BTC as a resistance currency since 2014, looked at the basic question of ““How can we restructure our digital landscape so that it can’t be weaponized against people?” He detailed why BTC fails that test. He also stated that “young people are begging for a way to contribute constructively but instead there are smoke and mirror industries that don’t make anything.”
I posted an episode recapping their discussion: https://thirdparadigm.substack.com/p/bitcoin-vs-the-caret
In it, I do a point-by-point comparison of my Caret system to Crypto, showing how it would accomplish the larger goals. I start by distinguishing between money and wealth: “Money is the ability to take the products of other people’s labor. Wealth is the ability to survive on your own labor. While money is individual, wealth only exists at some level of community. Bitcoin is preserving the value of money, the Caret is building intergenerational wealth. The measure of the Caret’s success is the increase in resident home ownership, small local businesses and small local landlords.”
In response, Mathew Crawford wrote a hit piece on me called Technical Education vs. Mental Illness. Mathew parodies me as a mentally ill nuclear protester named Maya holding the sign of a two-headed snake. All because I thought his statement that ‘crypto-scams were a mosquito bite’ was a little bit callous. And I questioned BTC, and any Ponzi scheme relies on faith: https://thirdparadigm.substack.com/p/mathew-crawford-and-digital-god.
From my reply to Mathew: “you say that you suspect the Military Occult Banking Syndicate (MOBS) created Bitcoin in order to keep their Grand Theft Earth going without engaging in WWIII. I agree with you! It transfers ownership of the world’s properties from the petrodollar, which is in freefall but hasn’t yet splatted, to Bitcoin. As my book explains, derivative bets were at $700T in 2013, and take superpriority over deposits if a bank goes bust. There are now those derivative bets on BTC, so the MOBS will continue to own us even if BTC goes bust.
“You say that BTC isn’t ‘liberating’ and that’s just hopium. What it will do is make the Grand Theft Earth transparent. Is that enough? What the caret does is take away the assets from the bankers—the houses and land—and makes sure their value can never leave the commonwealth. Why not let the dollar go belly-up if we’ve withdrawn our houses and mortgages from backing it? Let the bankers keep their currencies while we take back the wealth that props them up.”
Glad that you and Gabe are staying focused on the real goals, James.
Pick one:
• Trump is a powerless puppet who does what he’s told.
• Trump has the power to choose to switch the narrative from Bitcoin slander to Bitcoin worship in the interest of increasing his personal wealth.
Animals arent food
I doubt Trump has NO power OR that he has ALL power…..he is probably getting things he personally wants, but this time around he is being guided by others who probably put the money up to run him and also made sure Twitter and new media were on his side.
He probably has plenty of agency in matters that his backers dont care much about…. Winston Churchil was in a similar position when he blew his money and ended up being bankrolled by groups like “the Focus” who would tell him to push certain things.
No matter who is in office the Technocratic agenda will still continue. Everything D.O.G.E. is implementing right now has been in the works by the DoD, even during the Biden administration. Biden’s executive order is now playing out during the Trump administration https://bidenwhitehouse.archives.gov/…/executive…/Fixing – (Both sides are working together towards the same goal.)
“Fixing” the corrupt government is the perfect way to implement and get the public to accept the new blockchain system and A.I. Governance. Which will control every aspect of your life down to the difference in the price you pay for an apple verses the person in line behind you, based on your “profile” Why? Because we can no longer trust humans, they are too corrupt. Just look at all the corrupt stuff we are finding. “We need you to give up your freedoms and personhood, so we can continue to have free speech, liberty and abundance.” This is build back better, the great reset & MAGA. It is all the same thing, in my opinion. 2030 is their goal.
https://dodcio.defense.gov/…/(U)ZT_RA_v2.0(U)_Sep22.pdf
Completely agree. “CBDC” is simply being rebranded as “stablecoin”, with merely a different pack of Bankster Pigs (3 Different Ones?) getting pole position at the trough.
I haven’t read any other comments, so I may be repeating someone elses thoughts… but was this whole digital currency, peer to peer thing a long planned psy-op from the very start?
Wanting, as they do to implement a CBDC, they (the banksters and their backers) first belittled it as a passing phase, then when more were interested, as they knew would happen, because so many are sick of the status quo, they, through their minions the msm started talk of government coming down hard on all this, forbidding and punishing. Which will have drawn in still more people, those who love bucking the system. Then acting like decent parents they gave in, (many realising they could also make another fast buck whilst putting their plans into being) and decided to say ‘ok’.
Are they thinking enough people are now hooked on the digital currency idea that they can now implement their desired CBDCs (under another name)? Like slavering dogs at a potential meal, they’re unwilling to wait any longer, and ‘voila!’ they think, fait accompli, they hope.
Nate Hagens posits that money is a claim on energy and debt is a claim on future energy. He is absolutely correct. To that I would add that money’s purpose is to account for the flow of energy through the superorganism that our planetary system has become. The real catastrophe of fiat monetary policy is that the puppet masters use the abstraction of money to create the delusion that money can “work” to make more money. Then the people who manipulate the money system can use an abstraction to control and buy the essential components of modernity, namely liquid transportation fuels, diesel and kerosene, to power yachts, private jets and $1billion condos in needle buildings.
Crypto’s insatiable appetite for electricity is its achilles heel. The electric sources essential for crypto will succumb to geophysical reality as thermodynamic collapse grows nearer with each passing day. Crypto is the last gasp of the cabal of global financial terrorists who believes that infinite growth on a finite planet is possible when such belief is the definition of insanity. Ralph Waldo Emerson opined that “the history of (man)humankind is a series of conspiracies to win, from nature, some advantage…without paying for it”. No truer words have ever been spoken.
Check the latest headlines about the massive push to reinvigorate the nuclear industry to support the voracious energy appetites of “AI”… and ask yourself if cryptocurrency may also be a silent partner in this equation.
Yes, Eric Schmidt recently stated they were going to require 100 nuclear power plants for their data centers. Go green or go broke! Or should that be “and” instead of “or”?
Anyway, I find it a bit strange that crypto bros seldom (never that I have heard of) discuss the issue of obscene amounts of electricity expended.
It’s important to note that this electricity is spent a) completely in vain and b) it scales with the power of the miners. The whole network could run on some watts just as easily as it’s running on however many mega watts currently.
I don’t know how much its spending, but even small time miners can heat their homes off of the extra heat, while keeping the windows open all day long.
At the same time, people of lesser means are chided for their propensity to heating their bones by any means they have available.
What a freak show!
https://crypto.com/en/bitcoin/bitcoin-energy-consumption
Beau-ti-ful. Up to 150 TWh, they say. The internet also says that one nuclear power plant produces about 8 TWh per year, meaning Bitcoin alone requires about 20 nuclear power plants. Wich is small fries when compared to “AI”.
If I owned any Monero (which I sadly do not as it was all lost in a terrible boating accident), I would be the annoying person in these comments making “Monero maxi” overtures. I would also be thanking James for continually accepting XMR as payment to this fine Interwebz Site. Sadly, I can do neither of these things as I know virtually nothing about Monero.
For the record, when bitcoin hits $1,000,000 please don’t say its supporters got lucky. There are mountains of free bitcoin information out there… do your own research and see if it makes sense for you. And if you fail to explore it, please don’t whine and complain if you allow the bitcoin life raft to sail away without getting on. We are still very early in this technology adoption curve, and I would highly recommend DCA’ing asap.
Watching the video at the following site is a good place to start: https://www.satsvsfiat.com/
If what we’re told about the state of quantum computing is true, it won’t be long before the private key for any bitcoin wallet is obtainable (assuming they’re not already obtainable by quantum computers not publicly revealed).
I would imagine this means that, in the near future, a new quantum-resilient version of bitcoin will be created for which the current private keys are no longer valid.
Instructions for moving your bitcoin from the old chain to the new chain will be made ‘common knowledge’.
A short time later the quantum plunder will begin, possibly gradually so as to give the appearance of legitimate holders moving their coin to the new chain.
The clearest indicator (besides losing your own coin if you failed to move it) will be sudden activity on the ancient dormant wallets for which the private key was almost certainly lost (or for which the holder died).
TL;DR: All the people who put their bitcoin in cold storage & moved off-grid might find their bitcoin gone when they eventually give it a peek.
I hear you… but if what we’re told about the inflation rate is true, it should be about 2% per year. But from my perspective “money printers go brrrr”… have you looked at the recent M2 chart (https://fred.stlouisfed.org/series/M2SL)? While you wait for quantum computers to potentially spoil the bitcoin party, you will watch your purchasing power eaten away by continuing to participate in a morally bankrupt fiat standard.
Bitcoin’s average annual return for the past ten years has been 104%… it was the best asset investment in the past decade. For fun, let’s say over the next five years, the average annual return drops to 50% per year. If you invested $1,000 into bitcoin tomorrow, at a 50% per year rate of return, you would have $7,500 in five years.
Anyway, I’m not giving investment advice. All I’m saying is that in five years, the same arguments that have been made against bitcoin will persist. Except bitcoiners will have more corn and fiat participants will have less. And over the next five years the bitcoin community will continue to build, grow, evolve, and mature. IMO, a bitcoin standard is hope for a better tomorrow.
Stack sats and stay humble.
Freshtracks
“….Bitcoin’s average annual return for the past ten years has been 104%… it was the best asset investment in the past decad….”
That’s kinda the issue with bitcoin- sure you can make money (I still kick myself for not) but at the end of the day what is it an “investment “ IN??
It’s kinda cool some random folks got rich off it, but it’s basically another fiat money that depends on people having internet.
I know zero people who buy day to day stuff wiyh bitcoin , or any crypto . I hear it can be done but can the system function if masses of people start using bitcoin as cash? And if they do it basic makes your financial life an open book ti anyone who is interested.
Again, I know people can make money on it but it’s ultimately a bubble or the basis of a CBDC control grid
What’s driving the price up? People buying in relatively late and selling relatively early. I’d dare say bitcoin has been less than a boon for more than a few. While people holding have a top priority in talking it up.
Unfortunately, you don’t see the forest through the trees… you don’t see that the entire world’s financial sector is now investing into bitcoin… and soon the countries of the world will be accumulating it. We are still early, and you have plenty of time to greatly benefit from this tech that is changing the way the world transacts. But if you fail to act and look up in five years, without having taken any action, you will still only see the trees. You need to dive into the bitcoin rabbit hole…
DCA + HODL = ZEN
Searching venice.ai returns the following (My recommendation is to do your own research and not take the advice of some random guy in a comment section.):
What is causing the bitcoin price to go up?
Bitcoin’s price has been on an upward trajectory due to a combination of factors, including increased institutional investment, regulatory developments, and market sentiment. Here are some of the key drivers:
1. **Institutional Investment**: There has been a significant influx of institutional investors into Bitcoin. For example, BlackRock’s iShares Bitcoin ETF (IBIT) purchased a substantial amount of BTC, reducing the available supply and driving up the price ^1^ Additionally, corporate treasuries have been increasing their Bitcoin holdings, which adds to the demand and supports the price ^2^
2. **Regulatory Developments**: Optimism surrounding regulatory developments in the U.S. has contributed to Bitcoin’s price surge. The approval of spot Bitcoin ETFs and other regulatory advancements have made Bitcoin more accessible to institutional investors, leading to increased demand ^3,2^
3. **Market Sentiment and Speculation**: Bitcoin’s price is highly influenced by market sentiment and speculation. Positive news, such as institutional adoption and regulatory clarity, can drive significant price increases as investors rush to buy ^4,5^ The fear of missing out (FOMO) among investors also contributes to the upward momentum.
4. **Scarcity**: Bitcoin’s fixed supply of 21 million coins creates scarcity, which drives up the price as demand increases. This scarcity is a fundamental aspect of Bitcoin’s value proposition, similar to gold ^6,7^
5. **Macroeconomic Factors**: Global macroeconomic conditions, such as rising bond yields and stalling economic growth, have paradoxically fueled Bitcoin’s rise. Investors see Bitcoin as a hedge against economic uncertainty and inflation, similar to a “digital gold” ^8,9^
6. **Technical Factors**: Technical analysis and chart patterns also play a role in Bitcoin’s price movements. For example, the identification of a bull flag pattern on the chart has led to predictions of further price increases ^10^
7. **Derivatives Market**: Increased activity in the derivatives market, including high open interest and significant trading volumes, indicates strong demand and speculative interest, which drives the price up ^10^
Ah yes, great stuff. Those who cause massive inflation are going to cause even more massive inflation by buying into crypto. Thank you, crypto bro, you elucidated it perfectly.
Also, thank you for the “AI” generated comment, I feel edified. It seems you are very qualified to discuss these topics. Always be closing, amirite?
In this forum, I won’t be able to provide enough information for you to make an informed decision. In 2017, I began a journey to get a master degree in digital currencies. I fell down the rabbit hole consuming anything I could get my hands on to better understand this tech. The following is one of the first videos first videos I watched, and it’s still relevant today. Andreas Antonopolous was ahead of his time.
https://www.youtube.com/watch?v=l1si5ZWLgy0
Anyway, I have spent hundreds of hours studying, reading books, watching videos, hosting meetups, etc. And I wouldn’t call myself an expert on the topic. But I also wouldn’t call myself some random folk that got rich… or “lucky” as many people often say. What you will find, is there are very few people that go down the bitcoin rabbit hole and then leave because they don’t believe in it. Most people become believers in bitcoin. But don’t take my word for it… spend time researching it and see if it makes sense to you. And print out this post, put it on your wall, and look at it in five years. Then ask yourself… Did you take action, and did you benefit? We are so early… and people can’t fathom that it will be worth $1,000,000 in our lifetimes.
And again, don’t trust me. If you want to do the “safe” thing, follow what at all the major financial institutions are now doing… buying bitcoin.
Per your concerns, what most people don’t understand are the real dangers of CBDCs. Once the government controls you via digital ID and CBDCs they control essentially everything, and much of humanity will be enslaved. I’m concerned that UBI (universal basic income) will be introduced as a “just like bitcoin” digital currency, managed by the government. Avoid it at all costs.
Bitcoin is decentralized… ie. no one can create more bitcoin out of thin air. CBDCs, and most cryptos, are centralized… ie. the owners can create more digital assets out of thin air.
Best of luck on your journey!
“….Bitcoin is decentralized… ie. no one can create more bitcoin out of thin ai….”
The reason I say bitcoin is Fiat currency is because it has no intrinsic value- it’s basically like paper money in the sense that it’s value comes from people declaring it has value…..fiat works fine but every fiat currency ends up at zero in the end. I can’t spend confederate dollars or French Francs because people decided they are not worth anything…..a fiat that depends on the internet will not even make good firelighters.
it’s not an “investment “ anymore then buying tulpip bulbs or shares in Enron is a long term “investment”…..sure people can make money on it but it’s not intrinsically worth more then a fed buck or some pretty tokens i print up.
Can you tell me if it’s true that the entire blockchain history of every bitcoin exchange is basically visible and open to anyone who wants to look into it?
Am j wrong on that? Seriously asking.
Because, as I see it that pretty much IS a CBDC level of privacy loss- the fact that it can not be printed to infinity is nice but having every purchases in the public domain sounds less then ideal.
Again, people can make money off it, but unless it’s going to be used to buy stuff from each other it’s just Enron Stock in the making.
Again, the forest > trees thing. If you think bitcoin is like the tulip mania hfsp.
To answer your questions, yes… the bitcoin blockchain is an amazing invention, that records every transaction. Thus, if I send you a bitcoin, that transaction is recorded and can never be deleted or altered.
The privacy issue is one of my biggest concerns. Cash is the most private way to transact. And we should never eliminate cash. Regardless, the majority of Americans could care less, and don’t use cash. They use trackable zeros and ones to transact (credit card, debit cards, etc.).
If you go down the bitcoin rabbit hole, you will discover there is an entire financial ecosystem taking place on what’s called Layer 2 of bitcoin. One technology thriving in this environment is the Lightning network.
I mentioned nostr earlier. It is a social media protocol that has the ability to zap users sats. Thus, I recently went to a user’s website, did some shopping, and zapped him the required total via nostr. Days later six bottles of wine showed up on my doorstep. This transaction does not get recorded on the bitcoin blockchain.
Every day people are dropping out of the fiat standard and adopting the bitcoin standard. And more and more people are starting to create and sell things… soap, shirts, art, energy bars, etc. I’m loving it… it is the greatest eff you to the corrupt fiat system… and the benefits are easy to see if you take the time to understand. Again, most people have no clue it’s happening.
I understand it is may seem complex, but it’s a wonderful journey.
Bitcoin is hope.
To keep it as simple as possible… DCA + HODL = ZEN
“Have fun staying poor”
“Five years and see how you missed out”
“Bitcoin adventure/ rabbit hole”
“Bitcoin BELIEVER”
“Bitcoin is hope”
I guess that being around my mom, who was very smart, and very dishonest when she was into MLM marketing, just makes me automatically distrust anyone who is playing on FOMO and pushing the EMOTIONAL sell.
Like I said , you can make money on bitcoin (just like people made money in Enron stock) but at then end of the day it’s a lot easier to see bitcoin being worth zero then it is to see property going to zero. It’s a lot easier to see bitcoin being worthless then it is to see gold beinh worthless. It’s a lot easier to imagine eating rice and beans than bitcoin.
Sorry but the way you use language is more cultish than informative.
I would never advise people to avoid bitcoin but I would also strongly advise them not to put their faith in it because ITS JUST A COOL FIAT….thats not even in general use as money.
AFAIK it’s not even as good as Monero which is somewhat private
Fair enough.
You know what this string is called… it’s a receipt.
Looking forward to reviewing it with you in five years.
It’s like explaining gun powder to an army brandishing swords…
… muh, muh, muh if it gets wet it’s useless.
Fresh tracks
I already said it was possible to make money (just like wiyh any pyramid scheme) if you jump off at the right time and buy actual assets like land or a company that makes stuff ir even shares.
But the “muh muh” and the emotional sell kinda makes you sound like a Used car salesman or MLM guru