If YOU would like to be on a CRYPTO PING LIST, please pm me.
I've noticed a rising interest by many on FR in:
Bitcoin
Ethereum
Other coins built on the Ethereum blockchain mining
etc.Thanks! Pro or con, it'll be a wild ride.
Posted on 03/21/2021 10:03:35 AM PDT by aMorePerfectUnion
On Monday (March 8), Norwegian industrial giant Aker ASA announced that it had “established Seetee AS (‘Seetee’), a new company dedicated to investing in projects and companies throughout the Bitcoin ecosystem.”
In its press release, Aker said that Seetee, which will “keep all its liquid investable assets in bitcoin” and is “initially capitalized with NOK 500 million”, will focos on the following activities:
“investing in and owning bitcoin” “joining the Bitcoin and broader blockchain community and establishing partnerships with leading players” “launching Bitcoin verification operations” “building and investing in innovation projects and companies in the Bitcoin and blockchain ecosystem”
Aker says to “accelerate its initiatives”, Seetee will “actively partner with other companies”. One of those strategic partnerships is with Blockstream. This collaboration will “initially focus on mining operations and be further developed by building on Blockstream’s unique strengths in blockchain technology and Aker’s industrial legacy and capability set.”
Øyvind Eriksen, President and CEO of Aker ASA, had this to say:
“With the launch of Seetee, the Aker Group makes another move into software and fintech. We are very excited about the industrial opportunities that will be unlocked by Bitcoin and blockchain technology, and want to contribute forcefully to that effort. These technologies have the potential to reduce frictions in our day to day lives, enhance the security of our digitally driven economies, and unlock new business models for innovation. We look forward to addressing these and other applications together with Blockstream and other partners.“
And Adam Back, Co-founder and CEO of Blockstream, stated:
“It’s exciting to see Aker dive into the Bitcoin ecosystem with enthusiasm. We will be working closely with Seetee on Bitcoin mining and sidechain projects that benefit Aker’s group of companies and we expect that their rich experience in leveraging global power infrastructure will prove to be a valuable asset to the Bitcoin industry.“
Congratulations to all who are pinged below on being cutting edge FReepers.
Not too late to join, or to figure out the whole crypto thing for yourselves.
Everyone welcome.
..............
This is a continuation of the worldwide spread of crypto into major corporation treasury accounts.
If YOU would like to be on a CRYPTO PING LIST, please pm me.
I've noticed a rising interest by many on FR in:
Bitcoin
Ethereum
Other coins built on the Ethereum blockchain mining
etc.Thanks! Pro or con, it'll be a wild ride.
HODL
So when all the 11 million BTC are finally mined, and they are all held in cold storage by a handful of billionaires and corporations, what good will they be to anybody else?
HODL is a term derived from a misspelling of "hold" that refers to buy-and-hold strategies in the context of bitcoin and other cryptocurrencies.
Understanding HODL
The term HODL (or hodl) originated in 2013 with a post to the bitcointalk forum. The price of bitcoin had surged from under $15 in January 2013 to a high of over $1,100 at the beginning of December 2013. In the 24 hours to 10:00 a.m. UTC, Dec. 18 – possibly in response to reports of a Chinese crackdown – the price of bitcoin fell 39%, from $716 to $438, according to CoinDesk's bitcoin price index.
I AM HODLING
At 10:03 a.m. UTC on Dec. 18, GameKyuubi posted "I AM HODLING," a drunk, semi-coherent, typo-laden rant about his poor trading skills and determination to simply hold his bitcoin from that point on. "I type d that tyitle twice because I knew it was wrong the first time. Still wrong. w/e," he wrote about the now-famous misspelling of "holding." "WHY AM I HOLDING? I'LL TELL YOU WHY," he continued. "It's because I'm a bad trader and I KNOW I'M A BAD TRADER. Yeah you good traders can spot the highs and the lows pit pat piffy wing wong wang just like that and make a millino bucks sure no problem bro." He concluded that the best course was to hold, since "You only sell in a bear market if you are a good day trader or an illusioned noob. The people inbetween hold. In a zero-sum game such as this, traders can only take your money if you sell." He then confessed he'd had some whiskey and briefly mused about the spelling of whisk(e)y.
Within an hour HODL had made its way into memes: the movies 300 and Braveheart provided the initial source material, but there are now countless HODL memes floating around the internet (Game of Thrones' Hodor is a favorite subject).
HODL soon became a byword for an approach to cryptocurrency investing that shuns trading based on short-term price moves. This approach mirrors GameKyuubi's rationale: novice traders are likely to botch their attempts to time the market and lose money or make less than they would simply holding onto their coin.
From: https://www.investopedia.com/terms/h/hodl.asp
More at site.
The greater fool comes forth.
Who knows.
Couldn't you say the same thing about any publicly traded stock, since it also has limited shares that billionaires could snap up??
Guess time will tell.
I do not have a crystal ball. (Two balls, but neither is crystal...)
So that may prove true or not.
I can tell you that DeFi is real and happening.
And I would add that in the run up to the market peak in 2000, it was common to describe internet companies the same way.
I was a mutual fund manager, hedge fund manager, RIA. We couldn't wrap our heads around what was happening.
Amazon later dropped something like 90% at one time.
Amazon went on to dominate.
New companies were born.
And frankly some were trash ideas and died. <
Out of the ashes, a transformation of business occurred that continues today.
I can't predict what bitcoin will end up as, but DeFi is on the move and I believe will be as consequential for business as the WWW
Of course, this is my non-crystal view and I could be wrong.
You could argue that, but 1) not a lot of stocks have that small a float and 2) the stock market is rigged you can “borrow” shares without the lender even knowing, or you even knowing if you borrowed shares or borrowed shares that were borrowed. There is a reason most investors don’t hold the actual stock certificates but instead leave them in the street names of their brokers.
There are documented cases where people literally bought up every share of a company, called in the certificates thereby owning 100% of the company - and the stock continued to trade on the exchanges.
Harder to game the system like that on the BTC blockchain.
Love it.
I bought 2 ETH at the dip this A.M.
I’d HODL too if I had any.
I’ll gladly pay you Tuesday for a HODL today...
Seems if a small group of people buy up all BTC, it is because, first someone chose to sell. Fair transaction. No problem.
Second, a market would shrink, then to just billionaires. Small markets are not efficient.
BTC isn't a collectible like fine art ... so I don't see the advantage.
Most billionaires are sophisticated enough to not get stuck holding something they destroyed the market for.
So you may have something there, but we will have to wait and see.
Can I ask how did you do that? TD Ameritrade doesn’t seem to have it yet.
That’s the market: sometimes you gotta hodl them, sometimes you gotta fodl them.
😂
I don’t understand it still after following the articles. What I do notice are the precious metals dealers who now accept Bitcoin.
Hmmmm....
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