Which one of you sold it?
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I got in much earlier but I was nearly broke at the time. Definitely didnβt have that kind of cash back then!
Me too. I barely had money for rent π
That was stupid!
I don't understand why these people are so keen in see other's people transactions. That should be a very private thing not a public one
found the monero account πΈ
Yes, and...?
we are in alignment
Not on a public ledger, it isn't
Ah, sorry. Thought you were some of those btc maxis who always come to annoy me
Haven't followed closely, but find it hard to believe og whales would dump in such size. Just doesn't make sense to me
"EVERYONE is selling" is FUD for the paper hands.
sir would you like to join me on my yacht?
I got my own!
I was just talking with the wife about this.. theorizing what's happening. Im thinking there may be some sort of attempt to capture profits in the expected cycle, move to gold, then when the cycle moves up again jump back in, possibly lower? What do you think is going on?
Move to privacy is imminent.
Zcash x13 in the last 2 months. XMR will follow.
BTC has a realistic chance of x10 over the next 5 to 10 years. Privacycoins will go x1000 in the same timeframe.
So I guess enjoy your store of value.
Why would they sell and not take a loan against it? @jack mallers explained some motivations for why an OG would sell now (buying things with utility value) but why not buy those things with a dirty fiat loan and hold the hard money?
One thing Iβve wondered (although morbid) is what if these are people who have passed away, family inherits it, they arenβt bitcoin maxis / donβt fully get the Bitcoin ethos and can now realize life changing wealth without capital gains tax implications. Idk Iβm probably over thinking this. Just an idea.
would you post 2 billion in collateral to a custodian?
Never take a loan against an asset that can drop 70% you will get margin called
Because Jack is a fiat shill in disguise. You know what you get when taking out a loan against BTC.
Fiat. So you become a hypocrite the moment you use Jack's shitty third party fiat service that tricks you into using "BTC".
Poor Bitcoin maxjs these days. They stopped P2P adoption 10 years ago STRIKing a deal with the Wallstreet devil to pump their fiat bags.
Lol. Glad Monero is not allowed on custodians.
It's better for the users and therefore better for the longterm health of Monero.
Iβve found value in Jackβs insights, but have always wondered why strike is custodial & KYC if heβs a true bitcoiner. Self custody is the key to financial sovereignty. Heβs not the only person doing bitcoin loans, just supplying what the market is demanding.
My question is - Why is the market demanding it in the first place?
I couldnβt agree more that itβs a weird contradiction that Bitcoiners are using the debt based fiat system at all. Itβs definitely not my approach.
Youβre preaching to the choir my friend. I personally donβt think itβs a good idea or very aligned with the Bitcoin ethos. But thereβs a lot of Bitcoiners out there who are doing it. Perhaps for people who want access to liquidity without having to sell their coins, itβs worth the risk. Iβm sure lots of these people will get the best of both worlds (realizing some wealth of their coins without having to sell) without ever being margin called. Itβs just an individual risk benefit analysis.
Some interesting data from chat gpt:
β’ For Bitcoin-backed loans (i.e., loans where Bitcoin is used as collateral), some platforms report significant volumes β e.g., one article notes that in the first half of 2024, one lender saw ~US$191 million in Bitcoin-backed loans. οΏΌ
β’ Market size projections: one research piece estimates the global βBitcoin Loan Marketβ was ~US$6.72 billion in 2023, forecasted to grow to ~US$59.44 billion by 2031. οΏΌ
Links below
The Renaissance of Bitcoin-Backed Lending: Stack Stats While Putting Them to Work
Leader in cryptocurrency, Bitcoin, Ethereum, XRP, blockchain, DeFi, digital finance and Web 3.0 news with analysis, video and live price updates.
extrapolate.com
Bitcoin Loan Market Size, Share, Growth & Industry Analysis, By Loan Type (Secured Loans, Unsecured Loans) By Platform (Centralized Finance (CeFi), Decentralized Finance (DeFi)) By Application (Trading, Business Funding, Personal Financing, Yield Farming), and Regional Analysis, 2024-2031
Bitcoin Loan Market. <h2><span style=
Also just to clarify @jack mallers was giving reasons why it would make sense for an OG to sell on Mailbag Monday this week, not shilling his lending product (in the context Iβm referring to).
According to this article, thereβs much more than that in the bitcoin loan market today and expected to grow to almost 60 billion by 2031. I donβt think itβs a good idea or aligned with the Bitcoin ethos but obviously lots of people disagree with me on that or see things differently.
extrapolate.com
Bitcoin Loan Market Size, Share, Growth & Industry Analysis, By Loan Type (Secured Loans, Unsecured Loans) By Platform (Centralized Finance (CeFi), Decentralized Finance (DeFi)) By Application (Trading, Business Funding, Personal Financing, Yield Farming), and Regional Analysis, 2024-2031
Bitcoin Loan Market. <h2><span style=
Because he is not stupid. If you had 10kBTC, why would you risk it to get more useless fiat. Just leave free out of your BTC.
Leave free out of your BTC?
Who bought it?
thanks bip444
Probably Dick Cheney's heirs.
I always have questions about those news :
How do you know the person sells ?
Was it a change of adress?
If someone is selling other person is buying ..
Which is the bank who receive this amount of money and doesn't make questions ?
Who is the government who is "not aware" of this transaction and make a new of it , a suspect of money laundry , and imprison somebody for it ?
Manipulation of price through fake news ?
You call OG someone who sell for Fiat like a bitch ? ....
Just 10 k bitcoin make the market shake like this when there are 19 millions in circulation ??
All smell is a manipulation of price and noise ..As usual ....IDK correct me if I am wrong
And it barely moved the needle
My guess @TheGrinder
I'M NOT SELLING!
Except to buy pineapple pizza
Whales should do a and sell in smaller chunks for privacy πΆοΈ
CoinJoin.nl
I also bought at 15.400... good times.
You didn't read properly, he bought 10kBTC for 15400$, so 1.54$/BTC.
Yes, I did π