patrick.net

Cash says

Today, the government officially passed a law legalising Bitcoin and other cryptocurrencies.

Was it illegal before?

Canada Fails Personal Wallet Request to Freeze Bitcoin
https://investmentbusinessu.com/2022/02/19/canada-fails-personal-wallet-request-to-freeze-bitcoin/?source=patrick.net

Dear Ontario Supreme Court Justice,

Nunchuk is a multitasking, collaborative, and self-isolating Bitcoin wallet. We are a software provider, not a financial broker or custodian.

Our software is free to use. It enables people to eliminate individual points of failure and store bitcoins as securely as possible while maintaining privacy.

We do not collect any user identification information other than email addresses. We don’t have any keys either. So:

We cannot “freeze our users’ assets”.

We cannot “prevent transfers”.

We have no knowledge of the “existence, nature, value and location” of our users’ assets.

Learn how self-locking and private keys work. When the Canadian dollar is worthless, we’ll be here for you too.

sincerely,

Team Nunchuck”.

Team Nunchuck says

When the Canadian dollar is worthless,

Bitcoin will be worth a million Canadian dollars, maybe more.

TO THE MOON!

Canadian trucker receives $8,000 in Bitcoin during a livestream
https://finbold.com/canadian-trucker-receives-8000-in-bitcoin-during-a-livestream/?source=patrick.net

https://boriquagato.substack.com/p/governments-are-about-to-come-for?source=patrick.net

a friendly reminder that he who controls the ability to store, access, and transfer money can exert near total control over a society.

it’s a thing you need to know. because believe you me, the governments know it too and they rely heavily upon this monopoly for both surveillance and for suppression.

you’re seeing it right now in canada as funds for protesters get frozen, blocked, and outright stolen.

the families of those who donated to the truckers (and had their data hacked) are finding their accounts frozen by the government. it’s being used as explicit punishment under emergency powers to silence and attack peaceful political opponents. ...

we did not take your right to speech, we just took your money because you spoke. (and yes, political donations are and must be protected speech) ...




it’s not an accident that as we see this in the US:

this convoy is being largely funded by crypto. and yeah, sure, you cannot seize a cold wallet that is self stored and air-gapped and sure, there is generally no fiduciary to force,

BUT, and this is a major but, it’s also pretty hard to turn that BTC or ETH into USD that you can use to buy, say, diesel fuel without tripping over the US government.

and i’m very curious to see if this is something they manage to get around. ...

the “globalist” leaders are not taking kindly to the idea of challenge to their control of money systems.

make no mistake: the fight to control money will be the axis mundi of the social credit systems the collectivist planners seek to impose.

any tool the state can use against your enemies it can turn upon you as well.

and in time, they will. ...


and this is exactly why taking them away and rendering money, commerce, savings, and investment opaque to government will be one of the most important projects of the coming decade.

it will fundamentally reshape the nature of the relationship between people and government and result in perhaps the most potent reapportionment of power since the magna carta or the bill of rights.

it will make we the people the customer of the state not its subject because the state will not be able to grab wealth at will anymore. you cannot tax what you cannot see.




they declare emergency, brand opposition as terrorists, and start seizing assets.

this is a playbook straight from the 1930’s.

this is not fixable. we cannot get a “nice leviathan that respects you.’

moving outside it and making it subject to our tolerance rather than we to its is the only way.

the technology is, for the first time, really available to do this.

One way is to simply scp signed files around.

Although I am not a big fan of BTC or ETH thought I would share the realized price of BTC where
the avg. price BTC was acquired is $25,425 so the majority of holders are still in unrealized profit of 35%.
https://stats.buybitcoinworldwide.com/realized-price/?source=patrick.net

Cash says

the majority of holders are still in unrealized profit of 35%.

Holders? or HODLer's?

The reason bitcoin is as high as it is is the artificial scarcity. If even a couple million people want to buy a couple thousand Satoshis that would overwhelm the new supply. Many of these buyers are already HODLer's who are "dollar cost averaging" into "digital gold" because "They aren't making any more".

Cash says

Although I am not a big fan of BTC or ETH

These are the coins to consider: ISO 20022 Cryptos: 5 Compliant Cryptos to Keep an Eye on in 2022
https://investorplace.com/2021/12/iso-20022-cryptos-5-compliant-cryptos-to-keep-an-eye-on-in-2022/?source=patrick.net

Onvacation says

Holders? or HODLer's?

At this point you tell me?

I will say considering 76%+ of BTC haven't been moved in the last 6mo. I'd say there are probably a whole lot of HODLer's going on

Billionaire Ken Griffin Admits He Was Wrong About Bitcoin, Crypto
The famous hedge fund manager has always been one of the fiercest critics of cryptocurrencies.
https://www.thestreet.com/investing/cryptocurrency/billionaire-ken-griffin-admits-he-was-wrong-about-bitcoin-crypto?source=patrick.net

Bitcoin stuck under $40K, but BTC price hits another all-time high vs. Russian ruble

Onvacation says

Bitcoin stuck under $40K, but BTC price hits another all-time high vs. Russian ruble

Even fucking cowrie shells hit all-time high against Rubble (sic!).

In the end fiat will be worthless and crypto will still be valued in fiat, or seashells.

Onvacation says

Bitcoin stuck under $40K

If you look at last year's breakout ...

https://patrick.net/post/1338279/2021-02-28-rin-s-5-min-take-on-bitcoin



The price congestion, ala area of testing, is at the higher Fibonacci bracket than that of 2021. If anything, this is a classic bullish entity, even if it's based on a collective delusion of e-gold.

Realize, bullishness doesn't mean Proctor & Gamble, Exxon-Mobil, or 3M. Those are Fortune 1000 blue chips. Bullishness is simply how a market is moving.

Kraken to Distribute Over $10 Million in Aid to Clients Impacted by Ukraine Crisis
https://blog.kraken.com/post/13215/kraken-to-distribute-over-10-million-in-aid-to-clients-impacted-by-ukraine-crisis/?source=patrick.net

Onvacation says

Bitcoin stuck under $40K

That aged well @Onvacation




Oh wait, I forget BTC haters only care about price when its correcting.

BTC goes up: Silence by the hater
Me: "hey where are the haters??"
Haters: "We dont care about price!"
BTC price corrects
Haters: "BTC price is down!!!!"

Save_Ukraine says

Oh wait, I forget BTC haters only care about price when its correcting.

BTC goes up: Silence by the hater
Me: "hey where are the haters??"
Haters: "We dont care about price!"
BTC price corrects
Haters: "BTC price is down!!!!"

Here are things you may want to keep in mind, the Russell 2K & the EUR/USD.

Sure, the Russ price box is holding, however, it's below its 50 weekly MA & not too far from the 200 weekly MA. If these start to converge, ala Death Cross on a weekly time frame, the bullishness of the market may be over.

And likewise, the EUR/USD is testing its decade long low during this season.

All and all, if these two factors don't change for the positive then BTC may see its current bulllishness end by mid-summer which is my first take profit target.

Most of BTC exchanges are enforcing anti-Putler sanctions, btw.

Eric Holder says

Most of BTC exchanges are enforcing anti-Putler sanctions, btw.

Newbies trap, most know better then leave their cryptos on the exchanges especially the exchanges that US traders can trade and KYC with.

https://www.dailymail.co.uk/news/article-10593905/Biden-signs-executive-order-regulate-cryptocurrency-traded.html?source=patrick.net

Fuck Biden and his digital dollar.

Can transactions be blocked at the node? My understand is if you're using an offline wallet, you're still dependent on third party software. If the government is able to figure out your "onramp" can they then camp out on the wallet providers node and block your transactions? Short of running your own node, it seems like every convenience step adds a layer where the government can step in. Obviously they can't seize your assets, but then you couldn't use them either.

EBGuy says

My understand is if you're using an offline wallet, you're still dependent on third party software.

Yeah, but you don't need a wallet. Just a piece of paper. Or your brain and a seed phrase. So there is that. I guess eventually you'd need some sort of SW to get back in but you can trash your wallet and get a new one (maybe in Russia) if you need to.

Onvacation says

Fuck Biden and his digital dollar.

Yup. Sucks don't it? I've been waiting for this to make a CBDC thread. They are going to force this shit on us. It's not just Joe though it's all those globohomos too.

What would you rather own, twenty one ounce gold coins or one Bitcoin binary code on your flashdrive?

If you don't hold it you don't own it.

both

Onvacation says

What would you rather own, twenty one ounce gold coins or one Bitcoin binary code on your flashdrive?

If you don't hold it you don't own it.

Thats right! Not your keys, not your crypto!

(always move crypto from the exchanges to a cold storage / hardware wallet).

And of course I would rather own Bitcoin than Gold.

For obvious reasons:

Gold seems quite decentralized to me, as long as many individuals hold it.

It's also extremely portable, more so than paper cash even, as long as you have more than an ounce.

It's also sovereign, in that Canada, Australia, South Africa and others all mint their own coins.

Wozniac endorses bitcoin

original link
/

Liquid death and the Kimcoin from the Woz.

State Street to Develop Digital Custody in Collaboration with Copper.co
State Street intends to offer digital custody for some of the most active cryptocurrencies and other digital assets, subject to regulatory approvals

“That State Street, one of the world’s largest custodians, is creating a new digital asset service is a hugely important development for institutional engagement in this new asset class”

https://www.businesswire.com/news/home/20220309005564/en/State-Street-to-Develop-Digital-Custody-in-Collaboration-with-Copper.co?source=patrick.net

Cash says

new asset class

Fiat digital currency, twice removed from real assets because it is valued in fiat money which is valued in the faith and good credit of the country that issued it. I have little faith in the fiat dollar and even less in its digital derivatives. If the dollar crashes what will bitcoin be traded in?

All digital currencies require a greater fool to make a profit while requiring vast resources to keep them going. In all of the posts to this thread nobody has successfully rebutted this premise; nobody.

If you want to gamble don't pretend like you are investing. FOMO keeps it going.

Onvacation says

If the dollar crashes what will bitcoin be traded in?

BTC can be traded for anything really it don't exist because of the $. The dollar is just 1 of the many measuring sticks, p2p or b2b could trade anything they wish
for BTC. To disclose I don't own any BTC and just some dust of ETH.
What Happens to Bitcoin if the Dollar Crashes?
https://coinmarketcal.com/en/news/what-happens-to-bitcoin-if-the-dollar-crashes?source=patrick.net
Here are few opinions which I am in agreement that BTC appreciates initially, long term I have no idea of what it's
real value will be in the next few year however short term I see IMHO 89k-104k this year 2022 easy.

BTC has problems with POW/energy/ greenies and ETH besides it's high fees and the fact so far it's scaling is crap will likely
soon be in the SEC sights and under scutiny for its initial offering and some illegal promotions in the beginning ICO.

Onvacation says

If you want to gamble don't pretend like you are investing. FOMO keeps it going.

I hate to inform you OV every investment/trade is a gamble. Investing 101
Prove my statement is wrong or go find another uninformed uneducated opinion.

Cash says

I hate to inform you OV every investment/trade is a gamble.

Lottery tickets are a gamble, but probably a safer bet than HODLing Bitcoin, wouldn't you agree?

Every investment is a gamble. All I am saying is that any value crypto has depends on a greater fool thinking it is more valuable than what you paid for it. A greater fool ready to part with his money. It has no substance other than electronic zeros and ones.

The value of any/all/every investment depends on a greater fool thinking it is more valuable than what you paid for it.
That rings true for all investments. You really should go study for a minute and go find some kind of fresh argument.
However I am sure you are not interested at all about the reality of cryptos. I would call you a spammer if you weren't the 1
who created this BS post lol Fortunately most know a old man and his tired old arguments have little value.
Crypto is way bigger then BTC.

Onvacation says

Lottery tickets are a gamble, but probably a safer bet than HODLing Bitcoin, wouldn't you agree?

Not at all and I bet most here don't agree with that naive uneducated statement. Maybe wookie dog
I wish you could hear how ignorant, pushing stupid you sound

You should ask where all the brightest from MIT want to work?
You think they are going to your old tired cheating legacy financial entities?

Actually they probably are, except they are going to those institutions to develop crypto
management applications systems etc. because the old fucks have no clue and need
the young blood to come rescue them before they are left behind.