BTC

Perfect-Expert9533

This statement is actually pretty accurate! “When in doubt, zoom out.” means that when you can't figure out where Bitcoin is heading on the 15-minute chart, step back and look at the bigger timeframes. “Trading Bitcoin on a 15-minute chart is just astrology for men.” means some traders try to predict the future using chart lines and indicators, almost like reading a horoscope. But there's a difference: 15M: Short-term moves, more noise and fake breakouts. 1H: A clearer picture of the short-term trend. 4H: Bigger swings and more important support and resistance levels. 1D: The overall market picture. Charts aren't magic. Technical analysis helps estimate probabilities, not guarantee outcomes. A simple BTC trading rule: Check the 4H for direction, the 1H for key levels, and the 15M for entry confirmation. Always define your stop-loss and risk first.

Odd_Delay4411

Good luck to try to sell significant amounts quick with KYC/AML regulation in place. Nowadays you need to bring your BTC weeks earlier to a CEX. Since all the kafkaesque hoops you need to jump through take weeks, sometimes even months. By now I leave always leave some on a couple of exchanges to be able to sell in time. This really sucks to be exposed like that all the time.

kgtrip

So, what's your recommendation? What can an average crypto user with some coins in MetaMask actually do to protect their assets? And secondly, would you stay away from crypto and BTC altogether for the time being?

steelchairframe

I believe the current CAGR of BTC is around 30%. Pretty good returns but not getting dividends hurts commodity buyers. Always has and so only raw price helps ease the burden of poor performance. Probably best to exit positions at the next ATH. Inflation will make sure it has an ATH, hopefully it's inflation adjusted ATH!

steelchairframe

This is stupid and offers no insight to either argument. If anything it drives home the loner mentality that many BTC holders posses. They can't fathom that people might own stocks, property and BTC and so they might be comparing their returns. OP capitulating doesn't magically create the next leg up. What a ignorant idea. If anything I'd say BTC needs less arrogant people like yourself.

nugymmer

Yep, but try telling some alt coin bagholder who is trying their hardest to hope and cope that BTC is the only thing that will save their ass in the end. You have a better chance at picking the highest cherries from any given tree.

Rortherina

Hey man, thank you, I feel very touched by that. I tried to set up a Go Fund, however it does not work for Brazil. I am looking into international solutions for donations (any suggestions?), however, if thats what your heart tells you to do, you can donate to my BTC wallet address - the same one I mention in the post. * **bc1qnjtc6qwqshq7s8swfh8ww0lv63pt4t6mku6537** I edited the post to include a donations topic, commiting myself to sahre with local comunity here in Brazil every penny that exceeds the 0.87BTC that were lost. Thank you for that and God bless you!

AutoModerator

Post is by: BarracudaCertain3774 and the url/text [ ](https://goo.gl/GP6ppk)is: /r/CryptoMarkets/comments/1xk3xjl/the_biggest_crypto_heist_in_history/ $6.3 BILLION stolen from Binance. 18,270 [$BTC](https://x.com/search?q=%24BTC&src=cashtag_click) moved into wallets nobody can freeze. Approximately $3B in assets frozen. And somehow, Bitcoin dropped only a few percent. Was the market prepared for this, or did someone absorb a selling shock that should have sent [$BTC](https://x.com/search?q=%24BTC&src=cashtag_click) much lower? Let's break it down. 🧵 *I am a bot, and this action was performed automatically. Please [contact the moderators of this subreddit](/message/compose/?to=/r/CryptoMarkets) if you have any questions or concerns.*

BuildingThink

The question is, which vulnerability they used to stole such BTC? Is it still there? Is it just something related to binance?

nugymmer

I keep fucking saying that BTC is the only game in town.

wkhan-74

A 10-year chart can prove BTC went up; it can't refund the years your money sat there.

Narrow_Comparison_58

Doing the same ... 1. DCA at a flexible pace (e.g.: not exactly every Sunday, but the same principle of buy low) 2. Other options accumulating BTC via purchases in daily life (e.g.: Lava) Disclaimer, not affiliated with any 3rd-party platforms, all my independent opinions and personal practices.

FreeAppeal6537

Moral : No matter how much you mine/own BTC, North Korea is behind you.

SingularityXZ

Sorry guys I was the one of those guys selling all my BTC for USD... To BUY the freaking DIPS lmao. No gambling btw.

kneading-cnnuy

Nope BTC did that too, once https://en.bitcoin.it/wiki/Value_overflow_incident There's nothing inherent in blockchain that prevents walking back transactions, as long as the majority agrees

SeriousGains

Probably should have been more specific. DCA HODL **BTC.** Have I bought and sold other coins? Of course, that’s where greed comes in. Haven’t sold a single sat in 8+ years.

the_fsm_butler

No, you said BTC is bad for transferring wealth. And yet, here you are, refusing to prove your point by sending me BTC to show me how bad it is at transferring your wealth to me.

stunvn

BTC Withdrawal Suspended The wallet is currently undergoing maintenance. Withdrawals for this asset will be resumed shortly. Set network recovery notifications reminder

the_fsm_butler

I don't. Send me strait BTC, and I'll send you my heartfelt thanks. No intermediary tokens required.

Always_working_hardd

So, now that Fidelity and Schwab lets you buy BTC on their platforms, what now? Is there insurance through the brokerage?

Kommandant_Milkshake

It’s hilarious that they unironically use the 5 year chart argument. Cherry picking a date range doesn’t mean shit. I bet they’ll be real quiet about a year from now when the BTC 5 year chart will be measuring from the 2022 lows.

Oddsee

I think the best way to find your answer would be to read The Bitcoin Standard. Contrary to the title, the book is less about BTC and more about criticisms of Keynes and Keynsian economics. IMO the argument that we *need* inflation for growth is fundamentally flawed, due to the way we view/measure growth itself. For example, it's great when your stocks reach all-time-highs, but what about the rampant enshittification and mass layoffs used to get there? It's both unethical and unsustainable.

Fran4king

Because it will be quantum cybersec. BTC at 1 point will fork the hole project into a new one with quantum solutions.

vortexcortex21

Because BTC is not good for the use case to transfer wealth.

ngalsurf-1

There are outfits that will get your BTC back for you and don't charge you unless they get it and you have to pay a small percentage of what they recover.

azdcaz

Idk Germany sold 50k BTC worth 3B and it didn’t move markets. That was when the market was smaller. Last I saw only a little over 1B of Bitcoin was taken and not all sold yet.

dsk83

10yrs has passed since he bought BTC, not the same as 10yrs experience managing self custody

Born_Astronomer_4613

Yes it's safe. The price of BTC is going to explode in the near future. If you're holding BTC, you will be really rich.

DontLook_Weirdo

People either enter the stage understanding that playing this game could be fatal, or they learn along the way eventually. There has to be some level of comfort knowing that, and understanding financial terminology... Both of which are required and learned along the way. If you're not too computer savvy but understand what you're getting yourself into, stick to exchanges.. hope theyre never hit, and if they are, that their insurance covers you fully. My biggest issues with exchanges is their ability to freeze funds, sell or buy buttons... On another note, I'm grateful they were able to help their clients but the fact that they can doesn't sit well me. I use a hardware wallet because I am comfortable managing my own funds and I genuinely do not transact any type of coin online. I only ever buy, accumulated, and transfer out of the same seller (strike) - I have only ever paid with BTC once and that was for shake shack. I don't speak, wear, or fly any flags related to BTC - just like I don't speak about my Roth IRA. What happened to binance is tragic, but they won't disappear.. they're literally too big to fail at this point and will be bailed out if anything happens. This attack, although humongous, was not enough to severely damage them... But even with all that, I'm still perfectly comfortable handling my own. I understand the risks, and I understand even I'm not safe .. but that's the risk I accepted.

Born_Astronomer_4613

The reality is that BTC will hit $1,000,000,000 within 36 months.

MackinCeleBrini

Bro, just make peace with any wild gains you made years ago, without pretending they will repeat. To be frank you probably don't like the world as much if BTC does another 100x-1000x in half a decade like it used to. If it tracks stocks that fine. There is a real decent chance wild BTC growth from here is as bad for you as good for you, given what that probably means for everyone else.

Asleep_Conference_57

That's true - inflation is often celebrated by governments these days as you say as it tends to push debt to GDP ratios lower. To clarify, I'm referring here to the risk-free rate of return via government bonds or savings accounts. BTC can also be used just as well as fiat for risk-bearing loans with interest payments, sorry if I wasn't clear there. As you say both those things stimulate economic activity. Bitcoin is a better store of value as it has massively outpaced inflation over time, no argument there! It is however absolutely not a better currency and I think most people in this community accept that to a degree. Fiat (in developed nations) is instant, transferrable, secure, has minimal volatility making it a reliable unit of account for businesses and individuals, and is backed by national governments and by proxy their militaries. Most sensible pro-fiat people agree it should not be used ideally as a long-term store of value, shares, commodities, crypto etc. are much better suited to that purpose. Fiat, at best tends to maintain parity with inflation over time if it is held in interest-bearing accounts. The one thing I will say for BTC as a currency is that it has extrinsic value in that those in war-torn or sanctioned countries may need to get their funds out in a way their government cannot censor. That is the one area I believe BTC is superior to fiat.

Asleep_Conference_57

>why fiat is more worthless over time Just to wade in here on a technicality: fiat itself may become worthless over time ($1 buys less now than $1 did x years ago), but only if the real interest rate is negative. Fiat currencies allow the accumulation of interest whereas BTC by its very nature does not. It's not fair to say therefore that all fiat becomes worthless. If you can earn more interest per annum on that currency than prices rise, by definition it is becoming more valuable over time. This is the case across USD, GBP etc. right now and has been for a decent chunk of history.

termin8rs

People like you are why civilized people don’t tell anyone they hold BTC.

Fun_Professor_4324

With all the chai analysis companies and AI watching the chain, it’s very unlikely for them to cash out 18k BTC. Bitcoin doesn’t have a proper working mixing service like Tornado Cash or Railgun that ETH has. The amount is too big, everyone has their eyes wide open. My guess is it will stay still for a very long time

jacd03

I don't think there's any money sidelined waiting for BTC specifically. People can get similar (or better) returns in the stock market right now, compared to investing in BTC at 76K just to wait 3 years for it to 2x if you manage to sell the top, it's still expensive for a lot of investors. An speculative assets with little upside and a lot of room to drop is the least asymmetrical bet you could take right now. You’d be taking crypto-level drawdowns for returns that a good stock can match or beat.

nachtraum

Not only BNB. BTC and the whole crypto markets should have tanked massively. The reaction is pretty muted. Terrible news and not much of a reaction is usually bullish.

vega-mgtow

>Haha your **gf's boyfriend** now has 3 BTC

AIGrammarBot

It’s not inflation free. Why do people say this. If inflation gets bad people sell BTC to pay bills etc and the value decreases. All you wackos think BTC is still going to be worth something if the world gets nuked. Jeeesh. BTC is no more valuable than the USD and will be destroyed just as quickly as the USD of shit goes down.

brdoc

Whenever if ever BTC is hackable all bank accounts all around the world have already been compromised, security systems, nuclear codes etc, if you have fiat money that's a bigger problem than crypto.

brdoc

It's an inflation free store of value, you don't use BTC to buy gum at a convenience store. In other words, you rarely do transactions, just hodl. It's not that bad

Bel_Air_Fresh

I am assuming...and it's a big assumption....that ETF Bitcoin holdings at coin base and other exchanges utilise multi sig security. Hopefully they're not kept on Cold Cards and Ledgers...and Trezors from third party resellers.....or OTHER BTC ETFS!

28klotlucas2

"Bitcoin DOWN to only $100" "Experts warn Bitcoin may fall to only $500" "Crypto bubble finally popping? BTC down to only $10,000" "Bitcoin is back at it again! Only $77,000"

tenor_tymir

A lot of people were surprised by the 40% rise of BTC from June to September. They slept on going in earlier because the 40k-gang was still waiting for the October crash. Well, a lot of money is still sidelined and people are waiting for the price to go down again. What you see now is sidelined money taking the chance to enter the market at cheaper prices.

tta82

Haha your gf now has 3 BTC

Top-Care-8946

If Bitcoin gets cracked then I think that all the current ongoing AI boom might "blast" to zero. I think that it initiates chain reaction that will beat down the modern era economy and monetary system (capitalism) because too much finances has been buried into both: crypto and AI. None of biggest BTC shareholders are ready to lose it all as the same should be also AI industry owners/investors. Because it means a huge shift of ownership of corporations that leads to the total chaos of global economy and financial industry.

MackinCeleBrini

You can't change what something is and what people get from it with a white paper. I don't think I've looked it over in quite some time, and I have no particular interest in revisiting it. BTC was a wealth transfer to holders, incredibly successfully so until half a decade ago when the growth slowed into generic investments assets options.

knguyen_tx

Same switch happened for me. I mostly track two numbers now: total sats and my average cost per BTC. Watching the sat count go up every month during a dip is way more motivating than staring at a dollar chart. I still log the dollar cost of every buy though, because you need it at tax time anyway and it keeps the average honest.

knguyen_tx

Not a tax pro, but since FBTC is an ETF the sale should show up on your 1099-B like any other stock sale, and that's the form your CPA will want to see. I'd run the swap past one before you do it, mainly so they can confirm how the wash sale rules apply to your situation this year. Practical tip: once you're holding spot BTC, log every buy from day one (date, BTC amount, USD paid, fees). Exchange cost basis gets spotty once coins move to your own wallet, and rebuilding it later is miserable.

IAmFitzRoy

You are giving too much credit to scarcity without understanding, the reason that BTC has value is because TRUST, not scarcity. Anyone can make a fork of Bitcoin but will never catch up, why? Because people trust first movers. If tomorrow everyone stop trusting Bitcoin its value will drop like a rock.

read_more_comments

Mt fox trustee fucked us hard when he kept dumping in big batches during BTC peaks, effectively ending the rally. I assume the hacker will want what they can get and not do the same to us.

MackinCeleBrini

BTC isn't a currency it's an investment you hold to get higher purchasing power later when you trade it in. Through 2021 it was basically unparalleled at that. Now it's just sort of an asset like any other to invest in. Given at trillions and many cycles of diminishing growth, it's not doing more than other asset classes anymore. It isn't expected to significantly outperform them going forward either, but it may still beat a good amount of them who knows.

Smiletaint

It’s called math? USD has a supply that never stops growing. There’s less than 21,000,000 BTC. Imagine if there were only 21,000,000 USD in the world. What do you think you’d be able to buy with 1? How much would it be worth?

b1mm3rl1f3

Stocks imploding, Binance suffers the biggest hack of all time, BTC down less than -5%, bears are aggressively typing "it's over" again.

rs1971

I kind of feel like this as well. I'm not a hardcore bitcointer; I haven't looked at the code or even run my own node, but I was a software developer for thirty years, so in general I'm much more technical than the average person. I have my BTC mostly on a Ledger with a little bit on a Blockstream Jade. I bought both directly from the manufacturer. I haven't bought any BTC or touched either wallet in several years and if you had asked me six months ago, I would have said that I felt totally safe. But between the Cold Card and Ledger hacks, I'm definitely getting a bit nervous. For the first time, I really am considering jutst liquidating my position and being done with all of this.

tenor_tymir

yes we could - but what would selling BTC help?

voodoobunny999

$6.36 billion here, $1.5 billion there, pretty soon you’re talking REAL MONEY! We were always told BTC was REAL MONEY. I just didn’t think they meant it like this. Real question: Is Satoshi North Korean?

No_Resolution8762

BTC has a huge TAM (X00T+) and it has only captured 1.6T so far. Accumulate while you can.

cocouf

Now she has 3 BTC

IAmFitzRoy

So the idea of BTC is better than inflation is that BTC will grow in value against USD indefinitely? Okey I thought it had a more substantial logic, I see that there is no logic just hope.

amnesiac010

Huh. I would expect a loss of confidence in the platform (and coins involved that weren't able to be frozen or recooped), triggering an overall loss in valuation for BTC.

WobblyTaterTot

I'm a 2012 BTC person. Harbor wallets are just mini exchanges in the minds of those of us from the beginning. If you didn't have your keys on a piece of paper with literally no third-party involved, whatsoever, you didn't have your keys. Hardware wallets are not what all of you guys treat them as. They require people. Software. None of that is where the "not your keys, not your coins" mentality stemmed from. Nobody was thinking hardware wallets when that was first written. They were thinking paper wallets. Still a third-party, but it was like a website that millions had hardened for years and the code never changed. It was just a way to generate characters. Very, very different.

No_Cartographer1492

\> Despite that, since I started accumalating BTC rather yound (over 10 year ago), I have always used a Electrum wallet that is considered "hot". This is not against you, OP, but I can see that the largest obstacle for massive adoption of Bitcoin is human stupidity.

Ninjanoel

Eth can't be frozen as well. You BTC maxi's are so silly, usually because you ill-informed. What about when BTC printed billions of bitcoins? Should Eth-maxi's be shouting "twenty one million my arse, this is why I use [insert shit coin her]"?

OdonsOwn1966

Well I guess my next couple of DCA purchases will get me fractionally more BTC. Good thing it's my play money, of course my main investments got hammered today. Hope my Roth 401k money from work is buying stuff today, will probably be Monday after a massive rebound. Pass the lube :)

amnesiac010

Weren't 18,270 BTC stolen? Why would this not cause btc to lose value?

buckerooni

This is more of a NK problem than a BTC problem

13Angelcorpse6

I took the meaning as the poor don't have access to enough fiat. I am a New Zealander, society excluded me from working and paid me a benefit. My limitations prevent access to enough fiat. I'm going to stick with BTC as it is a better strategy than buying lotto. I will aim for BTC outperforming everything else and not making a mistake. But I might advise my daughter to sell her BTC and just invest in Voo.

crimeo

You can meet a guy in a parking lot and hand him a briefcase of cash while you both wait for the BTC to clear. Good luck not getting stabbed.

Lucky-Interview-7689

So maybe I overstated "every property at once." Market cap is price times supply, and can't be compared it to payment flows. And a 2-of-3 multisig can help with a lost key. And the October Chainalysis report is better data than the January one I cited: activity fell about 80% at the start of the Feb-May shutdown and recovered to over 75% of baseline before it ended. SO? Now the last paragraph, which is where our disagreement really lies. Let's stop talking about all this tangentially related BS and get to the point. >Bitcoin doesn't need to replace banking to attract monetary demand. I never said there's no demand. The question is whether it's monetary demand, whether people holding it as money. *Do you understand what that means?* Yes or no. More on that below. >The combination and the growing network around it gives people reasons to acquire and hold it beyond cheap payments or an immediate banking blockade. You don't seem to be able to argue against that. I'm not arguing against that because it's true, but I don't think you understand what it means. It doesn't have the impact you think it does. Almost any asset with buyers gives people reasons to acquire and hold it: art, collectibles, memecoins. **I never disputed that Bitcoin has demand**. What you've shown is that demand exists, **not that it's monetary demand, and your thesis fails if you can't show a more than immaterial level of monetary demand.** Roughly, the reasons people hold it are: * Expecting the price to rise. That's investment demand. There is demand for all kinds of shit that I'll never touch because it has no intrinsic value. * Hedging debasement or a banking failure. The same JPMorgan report says its volatility and unstable correlations complicate that case. This is super weak btw. If you want to focus on this I'll rip you apart but I'm not going to elaborate for now. * Censorship resistance. Real, **but a small group**. A group that I already said I don't give a fuck about. You'll probably say long-term holders own most of the supply (16.6M+ BTC by one count). That's true, but it doesn't separate the two kinds of holder. Someone sitting on an appreciating asset looks identical on-chain to someone saving in it, and part of that supply is lost coins and early holders who never sold. What would separate them is evidence of holders who stay through drawdowns and non-speculative use growing, and that's the evidence I'm asking for. **Can you provide this??** If your claim is "some people have reasons to hold it," I agree, and so does everyone. That's no argument. If it's monetary dominance, **give me a measure of people treating it as money and I'll engage with it.** Below is some more but really, if you can actually respond competently to what I've said so far I'll fall out of my chair. 1. Your evidence doesn't support what you are trying to say. You describe the appeal as ownership "**separated from an issuer and custodian."** You cite IBIT, **where a custodian holds the coins and the buyer holds a share.** Those buyers want price exposure and get none of the separation. The people who actually hold it apart from a custodian are a very very small group, and that's the niche I've already granted, and said clearly I don't give a fuck about. *Did you see that*? Yes or no. 2. Reasons to hold aren't the same as monetary demand. Investment demand rises and falls with the price. Total assets move with price, so flows are the signal, and $635.6M left Bitcoin ETFs on Oct 22, the biggest day since June. Money gets held through stress. In Fidelity's data gold and bonds beat Bitcoin in the worst stock months, and JPMorgan's strategist noted Bitcoin fell 40%+ from its peak while gold rose by a third. But I don't care about any of that to be frank. 3. The Chainalysis report that you cited was cherry picked by your AI tool. Iran supports you because Bitcoin activity fell 80-90% in the blackouts and recovered. But in the UAE, Bitcoin and tokenised-gold holders both rose when the strikes began. After that, gold holders kept growing while Bitcoin holders shrank, and Chainalysis reads it as people buying Bitcoin when the conflict started and selling when it eased. Bitcoin is still far more popular there, and it's **one market.** But for monetary demand, holding through the calm is the test and the test is failed. Do you see where I'm going with this? Yes or no? 4. "The growing network." For money, **what actually matters is acceptance and stable value.** Bitcoin's measurable non-speculative use is still tiny, and holding isn't acceptance. 5. "You'll have to adapt sooner or later". LOL. No. As I was pointing out to another one of you crypto bros on this sub, in a hypothetical situation where all crypto is removed the financial system, the world economy, everything continues on without a hitch. Nobody needs this shit, but people like you are fooled into thinking that it is the future. You are a victim and you will likely be taken advantage of at some point. Or maybe you are a grifter and you are taking advantage of others. Either way I don't give a fuck, and I never will need to.

fan_of_hakiksexydays

In the last 10 years crypto has been around: \-Blockchain security has slightly improved on major chains like BTC and ETH. \-Major exchanges have improved their security requiring more layers of verification and more indepth internal security. \-Hardware wallets have improved their hardware and software. BUT \-Hardware wallets have also added features that create more vulnerabilities. \-Exchanges still have a lot of the same weak points. \-Hacking is vastly more powerful plus has the help of AI, so the improved exchange security could still fall behind. \-Quantum might still be a threat for blockchain, but not for at least a decade or two.

crimeo

More BTC has been lost by self custody than on exchanges (or about equal, it's like within a couple % equal amounts)

Repulsive-Entrance93

Back in 2017 I lost $1500 in BTC from the Cryptopia hack when bit coin was around $3000 right before it took off.

Lucky-Interview-7689

So you made a few points but it's mostly just semantics and missing the forest for the trees. Deposit insurance isn't universal, there's a cap and it doesn't cover theft. Gold transfers need an operator. Custody and issuance are separate questions. Bitcoin donations to the Anti-Corruption Foundation and Iranians moving BTC to personal wallets are real, documented uses. And Swift and Kinexys are live. But what does this mean? None of that moves the needle in a significant way. 1. It's a niche. The Foundation case and Iran are exactly what I called the unique remainder: people under financial repression. That's real, and it isn't $1.6T of demand. Chainalysis also says IRGC-linked addresses got over half of Iran's crypto value in Q4 2025. This serves the regime. Withdrawals flatlined during the January blackout, so the option needed connectivity the state could cut. And HRF's own report says Russia will push crypto trading through state-regulated intermediaries in July 2027. The state can't stop Bitcoin moving on the network, but it can control the places where people turn Bitcoin into spendable money. It's only a matter of time. 2. Self-custody is the only version of "trustless." Bank customers have recourse for unauthorized transfers. Lose a key and there's nothing, and insurance sold to custodians doesn't help someone holding their own keys. 3. Swift and Kinexys aren't Bitcoin. Swift's ledger is run by Swift **for 17 pilot banks**, **and final settlement still went through existing systems.** Kinexys is JPMorgan deposit tokens, **about 0.06% of the \~$12T a day JPMorgan Payments processes**. Banks chose them because they keep KYC, reversibility and regulation, the opposite of what Bitcoin sells. And it's not like it's catching on fire. I doubt they will roll it out across all locations. 4. Needs aren't demand. Remittances ($905B in 2024) are served mostly by fintechs and dollar stablecoins. BIS Working Paper 1385, published October 19, 2026 (Du, Huang and Scharfstein) says stablecoins don't fix everything that makes cross-border payments slow and expensive. The unbanked need stable value and credit, which volatility and key risk work against. Offshore wealth sits in banks, property and gold. You also concede the cap makes issuance predictable, not purchasing power stable. 5. Nobody needs one asset that solves everything. The dissident needs censorship resistance, the saver needs stability, the remittance sender needs cheap dollars. The bundle only wins for someone who needs every property at once, which is the niche again. And I don't give a fuck about the niche because it is SO SMALL that it can be disregarded. We are talking about the world economy and how the financial system functions to maintain it. And crypto is not important to that.

eW4GJMqscYtbBkw9

What's your point? And what does that have to do with BTC being "inflation proof"?

NUkids11

Well I am certainly in it to make money. Is that verboten? Every dollar of BTC is one less dollar of BRK or PH.

DarrelXero

BTC Sessions YouTube playlist for multisig: https://youtube.com/playlist?list=PLxdf8G0kzsUUqr4oVXRHL1L-iK1q9hCfq&si=7Sn3BUYFfJdp3K_- Be sure that you understand what a descriptor file is and what you need to backup in order to recreate your wallet. A lot of people don't understand that losing a key in the multisig isn't your only peril. Don't trust funds to a multisig until you understand that crucial detail.

hblok

The Binance hack — a roughly $6.3B incident — is not merely a security failure, but a fascinating illustration of the increasingly complicated dialectic between decentralization, institutional trust, and the inherent fragility of custodial financial infrastructure. Quite the learning opportunity, really. 18,270 BTC ($1.47B) moved in a single transaction, followed by the customary peel-chain gymnastics to obfuscate the subsequent movement of funds. TRM and Chainalysis attribute the incident to North Korea's TraderTraitor group with high confidence. Not exactly an ideal customer experience. There are, in my estimation, two particularly salient takeaways. Bitcoin worked precisely as intended. Valid signature, transaction confirmed, no take-backsies. This is not simply a technical feature, but a foundational pillar of the protocol's immutability paradigm. The fact that this becomes somewhat inconvenient when the wrong people have the keys is, presumably, a feature rather than a bug. Meanwhile, "not your keys, not your coins" has received a rather expensive empirical validation. Binance says it will absorb the losses, which is reassuring — but that's not merely financial compensation; it's an exercise in institutional trust, counterparty risk, and the continued solvency of a centralized intermediary. In other words, decentralization, except with customer support. Ultimately, this isn't just about an exchange getting compromised, but about the fundamental contradictions between custodial convenience and the philosophical underpinnings of self-sovereignty. So, the genuinely interesting question is whether $1.47B in BTC can realistically be liquidated while exchanges and OTC desks monitor the peel-chain outputs — or whether blockchain transparency has become a rather inconvenient, yet surprisingly load-bearing, impediment to illicit capital mobility.

CyanTurquoise

Actually a simple counterargument, you should use several wallets, like if you make purchases, just have a few 100s$ worth of BTC in this and there is no danger. Your entire net worth doesn't have to be in a single wallet either. You should have several wallets.

AstralVenture

How are they going to use BTC?

ZubatCountry

Uh-huh and do you understand that 100k is a bigger number than any of those numbers? So your blind faith that it will continue climbing, especially during a time where people do not have disposable income to play the crypto lottery, is misplaced in my opinion Again, even if it does moon, you're *still making significantly less than you would with any other coin* which drives the incentive to buy BTC in the first place even lower Bro, go ahead. Please keep believing. Some of these other bagholders still need a decent off-ramp. Seriously, like when are you guys going to realize it's a gambling project and not a serious alternative currency? The rest of the world has, because it's main use comes from it's rapid spikes making people money, but you cannot build around a currency that flucuates so wildly in such a short amount of time Those are all real, logical, critically thought out points that aren't just "well it happened before" So I'm gonna go with my theory, and you can go with yours. Go ahead and keep believing, like any casino you will eventually give everything you won back because a lot of you don't know when to leave the table

Martineet

Sorry m8, good luck from a bitcoiner out there, all I can say is be strong and we won't remember those loses. Report to the police if you can so at least the address can be targeted in the future, it is lost but maybe you'll be able to trace where those BTC, you'll never know. No expectations but at least it's something. Sorry.

ZubatCountry

They were absolutely made...when BTC was much lower Now it's at 100k To double your money, it would need to go to 200k It has shown *zero* signs of breaking that barrier The incentive to invest is lower than ever. The chances of it mooning again are low, and the returns you would get if it did would be lower than ever It's not blind cynicism, it's math Go ahead and believe what you want, somebody has to be holding the bag at the end of the day

putins_dick

This. And the fact that the first response of the so called community when something bad happens is to blame the victim. It doesn’t make people who have a bad experience come back. I’ve been in BTC since 2013 and have lost my stack a few times only to have to rebuild it. Each time I learned a really hard life lesson and was in a dark place. Having a bunch of autists tell me how stupid I was, at my lowest point didn’t help much at all.

throwaway12three4

When NiceHash got hacked they replaced all hacked BTC over time. it took almost a year for me to get my BTC back. If Binance does make people whole, it might replace BTC, but, it might also replace cash value at the time of the hack. So if the price goes up, you can rebuy the same $$ amount of BTC but will have less BTC in the end.

jjwhitaker

No. Shares are backed by assets from a real world company. In bankruptcy shareholders/investors may be prioritized or the assets/IP/etc are sold and cashed out to those the judge deems worthy. Plus if you lose access to your shares they are still YOUR shares, with a process and precedent to return them, or discover the true owner and process. Crypto is backed by nothing. No assets. No central groups over the system (only specific coins). Sure you can see where that BTC was a year ago in another wallet and trace transactions. But if it's a currency (it's not) then it's fungible and that doesn't matter, and can't be used to return your BTC anyway without compromising 51% of the entire network. At the end of the crash, a stock may have value. Crypto does not.

Feriman22

Everyone keeps asking when altseason starts. Almost nobody asks what would actually prove it started. If alts can't outperform BTC on the way up, what exactly are we waiting for?

stewsters

To be fair, if it was the 2011 hack 10btc was like 180 bucks (at 18 dollars per BTC)

Sherako4

I remember when "send me 1 BTC I'll send 10 BTC back" fake Elon musk or whatever was all over twitter. This was March - Sept 2020.

radio_four

Not if you invest in productive assets - park that cash in index funds, property, stocks, Bonds, etc.   BTC... Just sits there

FudgeAdventurous3875

I lost most of my BTC in the coldcard hack despite doing what was 100% correct at the time. What is correct changes and the manufacturer can fuck it up.

Temporary_Ad_5947

1 BTC = 1 BTC. Mt Gox was 650,000 BTC.

Infamous-Elk-5086

From my perspective, BTC is up

ZubatCountry

Nothing says "stable currency of the future" like a currency where 99% of the people holding it are only doing so on the hope it spikes suddenly and violently If Bitcoin ever became an actual, stable currency it would lose half its value overnight because it's no longer attached to the game cryptobros want to play It was a way to make money for 10-15 years when people didn't understand what a blockchain was and assumed you were smarter than them for knowing about it Now it's chasing shadows Say it went from 100k to 200k Who cares? You could have made more money backing any other coin, because they pretty much all rise when BTC does So at best the ceiling is now doubling your money with BTC, which drives people to other coins, which lowers BTC, which lowers the value of those other coins Like, unless they do Bitcoin 2 and people fall for it again you are never seeing the moons and spikes you did in the 2010's

changgerz

you think you have BTC until you deposit all of it into a scammers wallet

I_am_the_darkness_99

Until there is a very detailed explanation for how NK did this and people know the exploit isn't going to happen again on other exchanges, I think a lot of people are going to be spooked. I have zero affiliation or love for Binance, and don't even use that exchange. But by catching it and covering the funds, they saved the entire crypto market from the sort of thing that happened last time with Luna then Celsius and there was a domino effect of systems crashing that dropped BTC like an extra almost 50% from like 30k down to 16k. I'm actually sad about that because I was planning for a November bottom for crypto where I thought BTC was going under $45k. I still hold hope that a new, lower bottom is coming but I don't think it's going to be near as low as in previous cycles this time. Not sure we'll even get near the bottom from this summer of under $60k.

natekates

“Uptober” was just 4 red weekly Bitcoin candles this year. The jokes just write themselves tbh. I still think somehow BTC $95k before Christmas, -4% today is oddly resilient considering we’re at peak FUD Extreme Fear off the charts

eW4GJMqscYtbBkw9

Inflation =/= expanding monetary supply. Increasing monetary supply *can* be *one* cause of inflation, but it's just one of many. If 1 banana costs $10 and .01 BTC is worth $10 - then 1 banana costs .01 BTC. If the cost of a banana goes up to $11 due to a bad harvest, the cost of a banana does not magically stay at .01 BTC. Inflation.

KateR_H0l1day

Less than one days revenue for Binance, plus lots frozen, so essentially that’s more BTC taken out of circulation!

Mission_Specialist_2

Then a fiat experience hyper inflation, and everyone wonder: why is BTC not viable?