Bitcoins/Litecoins/Virtual Currencies

BTC has just given up the post FOMC pump and flipped red (slightly) on the day.

Not a great look.

On the topic of Bitcoin changing how the monetary system will function moving forward and the role MSTR could be playing in it:



I'm not entirely convinced but I don't see this narrative getting the attention it deserves. Perhaps unwise to treat as the base-case, but it should certainly be on your radar if you're a regular in this thread. We continue seeing more little details dribble out that, IMO increase the likelihood that Bitcoin plays a massive role in the upcoming monetary regime change.

Blazin said:

fucking nonsense. Tried to listen, keep an open mind, see what people are saying...It's just so stupid I can't do it.

Not like, "Oh I see it different and disagree" but "The fuq are you talking about?" Seriously low IQ shit. I appreciate it though, always something to be learned. We need more pain.

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I think this is a rational response if you reject the premise that the relationship between Bitcoin and USD is following Gresham's Law. In other words that Bitcoin is being hoarded and the dollar will continue to debase against Bitcoin as the "weaker" currency is used and the "stronger" is held. If you don't hold that position then its absolute nonsense for sure. Maybe there are other things that would make it nonsensical, but I believe this is the main one.

If the above is accepted then Bitcoin as monetary collateral for trade and transaction rails for international trade makes more sense at least. I also think that the description of how the current banking system creates "synthetic" collateral is accurate and has warped our view of how financial markets should work.