Bitcoin - Only about 70,000 OTC BTC for the Big Financial Houses to Buy Up - Will Blackrock contact You?

Self Vaniety ^ | 11-11-2024 | Self

[Jumper]

At 17:01 in the video, a historic moment is approaching on this late afternoon Veteran's Day in the world of finance.

Bitcoin (BTC) has a sort of trading desk or OVER THE COUNTER desk (OTC) where it bought and sold.

There is approximatley 70,000 BTC left on the exchanges.

In the next few weeks the SUCKING SOUND YOU'VE BEEN HEARING was not the collective cry of the DNC but rather it is acquisition scramble by the ETFs and Banks.

Once the OTC desk BTC is gone these companies will need to find it buy it. They will be scouring the Coinbase type exchanges looking for Bags (a Bag is a company or individuals account holdings). When this happens they will offering a premium of 15-20% per BTC.

Hang On Sloopy, and Snoopy Hang On. Do not sell it if you have it.

For the first time in over a year, BTC Miners are profitable across the board.

BTC is just behind Silver on the Asset Valuation List where Gold is number Uno.

If you think you want to get into the bitcoin market, there is a company I would consider as the only place to start - MicroStrategy and Michael Saylor; his company gives you perks of ownership and all the benefits of having security, and beneficiary transfer - a great way to ensure family wealth transfer into the future.

Today is historic day. It is also possibly the ending of an era where BTC exists at the OTCs and not in individuals accounts where the Major Players who depend on acquition will need to buy.

[Drago]

No “Exchanges”! Practice “Self-Custody”!! You don’t really hold “physical coins”, you hold your “BTC Keys” (encrypted/hashed long #’s). BTC devs made it easier early in the development...(early 2010’s)...you now hold a record/hard copy of your “24-words” (keys) in a safe place (SD box, etc) as your “coins”.

Or use steel to record your keys (safer in case of fire):

https://cryptosteel.com

Exchanges (like Coinbase) can get hacked (Mt. Gox, etc.)...keep your BTC keys in your possession....”Not your keys, not your crypto”.

If you have a need to send crypto/money to relatives/friends in distant lands, keep a small amount of your crypto stash in a mobile wallet or on your PC for transaction purposes.

[Drago]

A thread for the “Crypto Ping List”? PING

[aMorePerfectUnion]

If YOU would like to be on a CRYPTO PING LIST, please pm me.

The Crypto Ping List covers the following:

Bitcoin
Ethereum
Other coins built on the Ethereum blockchain mining
etc.

Thanks! For it - or ag'in it, it'll be a wild ride.

[aMorePerfectUnion]

Thanks for the heads up!
Was on the road.

[aMorePerfectUnion]

[EnderWiggin1970]

One day there will be a BTC Holder’s Club like those Airport Lounges where someone who owns a BTC has comfort, and privilege - but they try to get your money and your coin;)

Well, that's actually been a thing for a while. I have an Icy White card from Crypto.com that provides just such benefits in airport lounges, and mine is only the 2nd tier card (Black is the highest... I had enough CRO for it, but judged it was better allocated to defi staking than going for the prestige card... and now it's up 200+% this week. :-)

[EnderWiggin1970]

Hard to believe. Bitcoin is just an electronic measurement of value backed by absolutely nothing.

Over 95% of dollars are the same (electronic, and all dollars are backed by nothing.) The difference is that bitcoin is provably scarce and politically neutral.

[Openurmind]

You don’t have to plug a paper dollar into electricity to make it work.

[Responsibility2nd]

Hmm. Well if anyone wants to buy my 0.04279507 share of a Bitcoin (current value $3,800.44) shoot me an offer.

[Responsibility2nd]

Yes. And they can (and do) print more paper dollars whenever they want.

BTC will be a finite commodity.

[Right_Wing_Madman]

Once you factor in a future with quantum computers, it is possible that no BTC will ever be lost

We assume a future with quantum computing, but 2023 and 2024 were rough years for q-bits. It could be a dead-end technology. Like cold fusion, quantum computing is technically possible at a miniature level, but it has a scalability problem, with no practical solution in sight. As long as physicists continue to receive money for this project, they'll be happy to continue to fail.

Bitcoin is safe for now.

[zeestephen]

Re: "Nope. The markets will set the price."

I thought that was obvious.

However, my two points are still unchallenged...

(1) How do the markets place a value on one Bitcoin when no one knows how many BTC are - or will be - in circulation?

(2) Since no clear legal standards of BTC ownership have been established by the Courts, how will future ownership disputes be resolved?

Until the Crypto Crowd solves those two riddles, the value of BTC will be a speculative guessing game.

[zeestephen]

Re: "Bitcoin is safe for now."

I disagree.

The value of individual BTCs is now so high - almost $90,000 as I write this - that speculative criminal investments in computer software and hardware become more likely every year.

A crude $1 million quantum computer with only one function - searching for BTC - can break even after finding just 11 Coins.

[Right_Wing_Madman]

A crude $1 million quantum computer with only one function - searching for BTC - can break even after finding just 11 Coins.

I'm not saying quantum computing won't happen, just nobody knows if it will happen, and we're still a long way from there.

[jughandle]

And I sold when it reached $75,000. My life....

[zeestephen]

I completely understand what you are saying.

I am saying that a commercially viable quantum computer is completely unnecessary.

I am saying that a one task computer program on a system that runs at near quantum speed is all you need to make a huge amount of money stealing BTC, or unlocking lost BTC, or discovering pristine BTC.

I would wager that there are dozens of individuals and groups that are trying to build devices like that right now.

[Jumper]

I see your point(s). The valuation is going to eventually be set by the ETFs, which may have already happened via the motheds they have together taken to take turns buying so as to keep the lid on price. This was an eye opener when the EFTs were observed taking different day and repeating the same purchases - they all seemed to work together by unspoken agreement to not drive up the price.

The issue of what actually exists will be like the 1909 vbd Lincoln Penny. There are only so many. Will a bag of a thousand of these destroy the price or will they remain high due to investor demand.

The ETFs have run up the price. The USG awarded them for the participation in the Ukraine project and anticipated losses. BTC is initially going to have to soften the writeoffs in Ukraine. After that, and when the market is down to what only the miners can product, the discovery of a million on a hard dirve will probably only result in a whatever OTC or a Coinbase or Crypto.com simply selling them to new demand - those who hold the biggest bags will want to keep their bags the biggest. The value might only temporarily drop but those who own the big EFTs will dictate that the valuation by scrambeling to acquire more of them.

Even if the actual amount turns out to be 22M or 17M it will be set by the ETFs and then it will be down to the top handful who are the biggest.

The value of BTC will allow them to make loans and further increase the value of their BTC.

The reason for the price now is simply a matter of acceptance which has occurred.

The way it is taxed has settled the ownership issue in the US.

[ConservativeDude]

are governments realizing their sh*t currencies are sh*t? Now buying up BTC?

Someone is buying, that’s for sure.

My daily purchases don’t move the needle much, but I’m grateful that the needle is going up.

[Jumper]

Apparently there is talk of the US holding BTC. Maybe Trump is going to ditch the Fed Res as the owner of the priniting press charging interest. At some point BTC will serve for a placeholder of value over national currencies. It not last a long time, but no countries currency has lasted for ever... even 1929 reset valuations of what our money bought. Will we have another “1929” is the question, and if so will BTC emerge as a gold standard along with silver and metals?

I think the guy James from Investment Answers (second comment in threat link) has been correct with his assessments the past three years - about where it is going.

James (and I) ascribe the Whole Coiner Theory. If you are a Whole Coiner you will have secured generational wealth which your kids and grandkids could put it on deposit and possibly not have to work living off the proceeds from interest.

BTC will be used to secure loans for everyone soon, and not just Michael Saylor at Micro Strategies, who is leveraging his BTC for loans at like .01 interest or something obsence allowing him to buy even more and repay the debt and then reloan over and over acquiring more BTC.

I’ve got 6+ and gave one to each boy. I have some other Solona.

I don’t look at it everyday. It’s not something I think of except in terms of security. It makes me happy knowing that in a year or two I’ll be a BTC millionaire, and I took care of my kids retirement needs while they are building their nest eggs.

[Jumper]

Trump Agenda for Crypto Industry:

- create a strategic national BTC stockpile

- Fire SEC Gensler

- Presidentialy Advisory Counsil on Crypto Regulation

- Stop work on Central Bank Digital Currency

- foster stable-coins and digital-tokens that are pegged to the USD