BTC

fan_of_hakiksexydays

We might not see an immediate effect. Nothing is gonna happen until after November 30. And it's just affecting the shares of MSTR. At least initially. However, after November 30, they say there could be an estimated $2-3 Billion passive funds using those MSCI indexes, and they will have to sell their MSTR. If there's too much of an MSTR dump, without enough demand, this could put Strategy in a tough position, and later affect Bitcoin and its future purchases, or lack of it from Strategy. Or if it's really bad, put Strategy in another position where it has to sell BTC again like last spring.

DontLook_Weirdo

These series of ongoing conviction questions need to be reworded to explicitly address those who are *not* diversified. If you're diversified then BTC is just another asset part of your portfolio.. it's performance and these questions, do not matter in these contained windows. If you're *only* invested in BTC and *only* started after '21, then absolutely you're regretting your decision of making 1 asset your only play.

devCheckingIn

MSCI went ahead and removed MSTR from its indexes. BTC didn't react at all to the news. 🤷‍♂️

sunsetreunion

I agree that 10% would probably be insufficient to entice whales to such terms, but anything 40% or above would probably be plenty attractive. I agree too that unlimited BTC supply is unrealistic, but any amount can be effective at reducing the price. Also bitcoiners have a clear timeline they care about: the 4 year cycle. If this and the power law graph can be broken, confidence could hypothetically be shaken. I agree that in the long run, this doesn't make fiat magically work, but it might be enough to weaken some amount of bitcoin enthusiast morale.

cubeeless

BTC to $400k!

RoseRoja

Wdym dead? It's more useful than BTC

memorandapi

Look, if you say it's an investment, treat it as that. People talk about hodling for life. That is bullshit. Live in poverty while you have BTC on an etc / wallet? That is not investing, that is being stupid. With investing you should learn when to sell and when to buy. If someone is regretting holding on since 2021, why would they look at holding for another 5-6 years. Doesn't it depend on the market?

ExpensiveGrowth4945

If you happen to find someone's car keys near the door because it dropped as they were leaving, and you take the car, is that stealing? The key is one thing, but the bitcoin that is protected by it was not earned by generating or discovering the appropriate key. Now let's say someone put 100BTC on the key 00000..000001. Is that theirs or did they put it out in front of their lawn with a sign that says "help yourself"? If someone put a sign on their front lawn saying "help yourself" but it was a typo, it should have said "do not help yourself", and there was a fridge, you took it and sold it, should you have to give it back?

acarefulobserver

1 BTC will be worth substantially more in 5 years than it is now because it is scare and finite. An asset that has extremely little, limited supply and extraordinary high demand is going to skyrocket in value. 1 Dollar or 1 Euro will be worth substantially less in 5 years than it is now because it is not scarce. An asset that has infinite supply and extraordinary high demand is worthless. What value and future price would this give Bitcoin if you think it through?

Azreel777

Like you, I've been buying since 2021, sometimes weekly. I view BTC as an assett to put my money in that has a solid long term return (potentially). Doesn't mean I ignore other asset classes. Still putting money into 401k, 529, HSA, HYSA, other crypto and a brokerage account. It's just one of the options I utilize for savings/retirement. After a long boring 5 yrs (except 126k), I'm not at a point where I may actually sell some of my BTC holdings to buy another business. Not giving up on BTC, more of a realignment of assets into an income producing one. Still hard to do, but I'm pretty much there.

ZethTheWindwrecker

Jesus Christ, alright, I'll buy more BTC. Twist my arm, why don't ya?

Gloomy_Dependent_944

I mean who didn't loose a ton of BTC?  My point stands, making a joke out of the kid is shitty.  Don't care if its a fake kid, they can go watch a 1950s sitcom if they wanna see dads being shitty to their fake kids.  This type of "practical joke" can screw up a kid as much as physical violence. Trust is a fragile thing.  When a child cant trust the adults that care for them and become the butt of practical jokes (haha kids are so dumb they believe anything!) It's just not funny.  This kid could be a troll too, doesnt matter. Why are we making jokes about their dad being an abuser? 

LionRivr

Inflation gives confidence. Inflation is inevitable: ALL assets will go up. But why BTC? As an asset class on its own, BTC has more asymmetric upside. BTC is also still a relatively small asset in terms of market cap. Gold marketcap is estimated $27 Trillion. S&P500 estimated $65 Trillion, with top 10 companies ranging from $1T to $5T each. BTC marketcap alone is $1.5 Trillion. Ignore the peaks and valleys. Follow the long-term average logarithmic trend. You’re comparing the relative “lows” of today versus the relative lows”highs” Nobody can time the market cycles to make the most gains at the exact peaks and exact lows. Also, check out the Japanese stock market Nikkei 225. from the 1980s to the peak in 1990, and then only surpassing the peak over 30 years later in 2023. How do you know with confidence that the US stock market won’t ever suffer the same fate?

No-Information-4319

Yeah, but you have to have the password or seeds phrase (back then a wallet file on the computer/USB) otherwise there's no accessing it. So the bitcoin itself isnt really lost, but the *access to it* / 'proof of ownership' and ability to use it is gone forever. *also, this whole post is sh*tposting clickbait- the 'dad' also made a post lol. But def lots of people who did "lose" small (and large) fortunes of BTC. It just goes back into the increased value for the rest of us essentially.

SeanSatBahamas

Interesting perspective…sounds like you are a cyberphunk :) honestly, i think w/o the number goes up story i wouldnt have invested in BTC

liquid_at

Which one do you mean? The original "meme coin" was a meme by BTC-Maxis to cope about why a shitcoin doesn't go to zero. The meme being taken over by the mainstream media was to gain clicks. The tokens that self-describe as "meme coins" are to scam people. All a very weird continuation of a small currency coin that ridiculed fomo-buyers and meme-traders by making memes. Then bitcoin maxis tried to gaslight about them believing in those memes, despite these memes just ridiculing maxis... then the media looked at the former altcoin hypers turned bitcoin maxis, thought they must know something because they hold bitcoin, so they just copied the meme. There is no use in "meme" and there is no reason to buy anything because it is "meme". Either the project has a use-case and a realistic chance to be used as that or it is trash. There is no middle ground.

SakrMF

Your frame of reference is US dollar and this is why you see bitcoin as just a number 74K today 120K tomorrow. Just because you see the dollar as the base and everything else is mvoving around it up or down. Once you change the perspective and make BTC your base currency, 1 BTC will always forever be 1 BTC, and dollar will move mostly down against BTC so is everything else over time. Don’t say: the price of BTC today is $74,000 Say: the price of USD today is 1,300 sats and soon it will be less than 1,000 sats downward to 1 sat then US dollar will become worthless and irrelevant.

TheAnonymousGlasses

Why would AI write “BTC” & “Btc?”

crazy_lolipopp

Absolutely insane pump, the one and only BTC <3

GlitteringPut3650

There are loan officers such as myself that specialize in this. You can pair a non-traditional mortgage with a BTC loan to finance up to 100% of the purchase and not sell your Bitcoin. Typically I do 75% mortgage and 25% BTC loan to reduce the amount of BTC you have to post as collateral. The rates on the mortgage will be lower than the BTC loan as well. If you don’t qualify traditionally you can actually qualify based on your assets and I can include Bitcoin/ crypto as an asset. Purchasing this way gives you a lot of flexibility to buy the home, not sell the stack, have no capital gains, and still own a home for you and your family.

ErdingEchoParadox

You can buy 10 BTC coins from Ali, around 20$, just for fun. \*those coins have no value, it's just a coin.

StoicDawg

Rephrase the question: If you have $200k in cash, how much would you invest into a house downpayment & BTC?

pezdal

"**Stealing**" has different subjective and objective meanings. From an **ethical** standpoint it depends on the interpreter. Some early crypto purists indeed consider that the *owner* is exclusively the person with the ability to move the coins (first). It's not stealing to them. The **legal** perspective depends on the laws, jurisdiction, etc. From a **practical** standpoint, whether it's stealing or not depends on if you get caught, whether someone has sufficient evidence, whether the prosecutor is interested in pursuing.... It also comes down to **perspective**; The person who loses the BTC usually considers it stolen. The person who stumbles upon some keys usually considers the bitcoin "**found**" 😄

Romanizer

Escrow could slow the recycling, but what exactly is locked up? If it’s just the 10% premium, selling at $110 still leaves $100 available to buy back the dumped BTC. If it’s the entire proceeds, you’re asking whales to surrender their coins for payment they can’t access for a year. That reduces the offer’s attractiveness and doesn’t stop them buying with other funds or borrowing. The question here is why whales should even be interested in that case. That's 10% p.a. at best. An NDA can conceal the agreement, but it can’t erase on-chain movements. Those movements wouldn’t necessarily identify the central bank, though, and transactions inside a custodian could stay off-chain. So neither secrecy nor exposure is automatic. Doubling down doesn’t resolve the mechanism either: doubling the dumps also requires doubling the BTC purchases. A central bank can sustain losses, but unlimited nominal funding doesn’t guarantee unlimited BTC supply at the desired terms, or an eventual collapse in demand. Temporary suppression is plausible. But you’ve moved from a straightforward trade to a coordinated, secret, continuously expanding intervention with restrictive contracts. That needs an argument for why it succeeds. It's always going to end with the same outcome. Infinite fiat equals infinite nominal value of Bitcoin measured in fiat. The only winning move is to play along.

terp_studios

The fact that second best to BTC is Dogecoin should really tell you something about the rest of the shitcoins.

KSW8674

I can, because I don’t have my money tied up in a floundering “currency” Hang in there, if BTC keeps falling maybe you too can afford one!

biophysicsguy

If the central banks want to suppress the price then it allows people like me to keep stacking cheap BTC. Let them do it all they want.

dgdgdgdg12345

Another thread a day ago posted how “my dad told me he may have 500 BTC”… lol wtf is this

dormango

If you need units smaller than a sat adding some additional decimal places will do the job. Zero need to split multiply the number of BTC.

jasonslpt

Still leaning short on BTC for the rest of the session. Our Hunter Killer liquidation heatmap has about $191M of longs sitting near 74,200, just under price, and a much bigger pool of roughly $507M near 73,029 if that gives way. The heavy short liquidations are up around 76,097, about $304M. A clean hour above 76,100 would prove the short idea wrong. Not advice.

Sudden_Onions

The fundamental difference is that people don't hold money. They put it in a bank account gaining interest, or they buy assets which they expect to rise in value or return dividends. Either Bitcoin needs to return interest, dividends or rise in value, otherwise it's dead money. If you bought 1BTC at $120k, and it remains below $80k, you've lost purchasing power.

Romanizer

You could probably push the price down temporarily. But a repeatable 10% premium gives anyone with access an incentive to buy the dumped BTC and sell it back to you. As more players exploit that trade, you’re financing buying pressure against your own selling. “Infinite fiat” also becomes an effectively unlimited subsidy for your counterparties. There’s also a credibility problem: a central bank openly attacking Bitcoin as monetary competition would acknowledge its relevance as money outside central banks and potentially strengthen that narrative. On-chain data might reveal repeated whale-to-exchange flows, but wouldn’t establish the premium, actual sales or central-bank involvement. Trades within a custodian could remain off-chain. I personally think that scenario is unlikely but would significantly strengthen Bitcoin and push the market cap far beyond gold. There are no central bank holdings known yet, unfortunately.

polymath_uk_

Yes, but that's still based on a misunderstanding. Bitcoin isn't money because its value "goes up in dollar terms". It's money because you can exchange it for real goods and services. The BTC/USD pair is just a currency pair like GBP/EUR or USD/CAD. If anything, the FED will be concerned about BTC's value against the dollar in the same way that it will be concerned about any other foreign currency. If the FED decided to print more dollars in this escapade all it would do is undermine its own managed currency by devaluing it through inflation. The same is true of any other CB.

Numerous-Annual-721

there are plenty of ways to buy BTC without KYC. there are far less ways to sell it. without KYC you get in black list and you'll have a hard time ever getting your money back proving it's not money laundering.

Awkward_Potential_

I still haven't heard you deal with the arbitrage from the whales in the situation. If I have $100k in BTC and central banks will buy it for $110k what's keeping me from turning around and buying $110k in BTC?

sunsetreunion

My post acknowledges the inflation. Yee, central banks fear inflation somewhat, but not tremendously, that's their business after all! What central banks really fear is an alternative competitor in money issuance. A little inflation here or there is a small price to pay to hinder a competitor's momentum.  A bug in BTC is defined by bitcoiners. If bitcoiners believe that bitcoin is money, and that bitcoin IS money because it's market price value goes up in dollar terms, all a central bank needs to do to hack and possibly dispel this belief,  is to ensure that the market price of bitcoin does not continue to climb. It's not a weakness in the bitcoin protocol itself,  but a weakness in the belief set of those who are intent to define bitcoin-as-money as being contingent on its performance in the fiat market place. I believe such a belief can be easily hacked by a market player with an infinite checkbook. I don't think my clip lost any major context for the post I was making, but if it did, please let me know what you think it missed. Here is the tweet in full:  https://x.com/saifedean/status/2118797730889752692 I clipped it because the internet is a TL;DR-zone, and because short quotes are often better at conveying information than long chunks of text (e.g. very few people are going to take the time to read the words I am writing to you at present because it is too much text for most people) but my apologies if you think I missed something valuable by cropping his tweet.

respectandmanners

These threads are great where people act like BTC is an entity with behavior in and of itself. All BTC is is purely a social psychology experiment. Its value is whatever the masses give it with whales having an outsized influence. And as Bjork has keenly observed “If you ever get close to a If you ever get close to a human And human behaviour Be ready, be ready to get confused There's definitely, definitely, definitely no logic To human behaviour, to human behaviour, to human behaviour Be ready, be ready to get confused Oh And there is no map”

Odd_Delay4411

That’s a hypothetical question, right? If a central bank had blacks ops and huge black budget and so on. In reality the moment it became public that a central bank buys large amounts of BTC at a premium, the price would skyrocket beyond any place this shity plan would ever work.

Odd_Opinion686

So this is just the opposite post to "your kid" who posted on here the other day freaking out about his dads 500 BTC. I smell BS...

TheSquattingSlav_21

Spot on. The only 2 reasons BTC is so dominant is because 1. It was first and is best known and 2. It has a token-cap, which eth doesn’t. The utility and long-term potential is not even close though.

Only_Lurks_247

Not sure if I fully understand your question, but let me try to take a stab at this. Total supply of Bitcoin will always remain fixed at 21 million despite any central bank antics. You’re arguing that the central bank redistributes Bitcoin from whales to the open market to satisfy demand, but look at both sides of that trade. The central bank prints money to buy from whales at a premium, and then dumps those coins on the market at a discount. Whales don’t just disappear after selling. In your example, whales get subsidized by selling to the central bank at a premium, and then they immediately use that cash to buy their Bitcoin right back at a discount when the central bank dumps. These round-trip trades just hand risk-free arbitrage profits to the whales. Net demand and liquid supply remain unchanged because the central bank started with 0 BTC and ended with 0 BTC, and the whales bought their coins back. Total supply remains fixed at 21 million, always. Short-term volatility may rise due to this wash trade, sure. Meanwhile, because of the central bank’s buy-high/sell-low antics, there is now net new money in the system. For example, if they printed $110M to buy the Bitcoin OTC, and only recouped $90M when they dumped it on the market, there is now $20M of net new fiat left in circulation (sitting right in the whales’ pockets) chasing the exact same 21 million fixed supply of Bitcoin. Long-term bullish fundamentals remain intact as the dollar gets debased while Bitcoin’s supply stays fixed.

Poddx

It really depends on how fast you want freedom. 1 BTC could be enough in the long term but do you want to wait 10-20 years for it to hit 2 million? My number is probably higher than 3 BTC.

polymath_uk_

What is the point of this though? For a start the CB is losing 10% on every transaction. They can print the difference but it's just increasing inflation. What you're describing is a classic kickback and that story's as old as the hills. It's not a bug in BTC or whatever. Also, you quoted that guy out of context and that's not cool.

Old_Resort_8348

Omf I saw his post about how his dad had 500BTC and can’t find his laptop🤣🤣🤣

hidden_moose

Slight correction: unless I misunderstand, there could be more than 21 million bitcoin if 50% plus of the miners agree to it. But that is extremely unlikely. The only way I could see it happening is in a few decades (after all 21M have been mined) where BTC has become the dominant currency and we need units of exchange smaller than a sat. A “stock split” where every existing coin becomes ten, a thousand, or more would solve that issue without affecting anyone’s stash.

polymath_uk_

No idea who that guy is but he doesn't understand economics. For a start, nearly all people hold fiat which is dropping in value at about 4% per year through dilution. Secondly, he seems to think the BTC /USD pair is how value is measured for BTC. Instead, it's what goods that BTC can be exchanged for that's important. So BTC is automatically becoming more valuable by 4% per annum even if its dollar price stands still. Lastly, it's a well known law of economics that bad currencies drive good currencies out of circulation, precisely because the good currencies are more 'valuable' to the holder. 

No_Stop7134

Anyone else finding it harder to tell whether we're actually in a bear market or just dealing with a really ugly correction? BTC holding around these levels is interesting, but the altcoin weakness makes the whole market feel much worse than the BTC chart alone suggests. I'm mostly watching whether BTC can stabilize before trying to make any bigger call. Feels like there's a lot of noise right now and not enough confirmation either way

Connect-Length-6960

I saw a thread the other day of some kid saying his old man might have 500BTC on some old laptop he lost. What are the odds 😂

Alternative-Pay5949

Entire retail crowd expected October to be the bottom. But BTC isn't that predictable and instead lured weak hands into a bull trap. Which means fresh liquidity that we need for a proper bottom formation below 55k. :D

adityajoshii

arkets are bleeding globally, and heavy institutional BTC options volume sitting right around 90k acts as an absolute ceiling.

WarmMycologist9549

If you already have another cryptocurrency and just want to swap it for BTC without creating an exchange account, you could check out AceChange.io. It supports crypto-to-crypto swaps without standard KYC for ordinary swaps. Just compare the final exchange rate and fees before proceeding. Full disclosure: I'm affiliated with the platform.

lukesmit695

That’s not buying BTC. Thats buying someone to hold your spot in line and hoping they’re still there when you come back.

Seikatsumono

I just read a previous reddit post that said "My Dad just told me he has 500BTC in his old laptop" 🤣🤣🤣

newMoneyStyle

BTC volatility makes leverage way riskier than most people expect from trading stocks.

Myndale

Interestingly, $500 worth of BTC purchased in 2011 could be either more or less than 500 BTC is worth today, depending on when it was bought. BTC was extremely volatile in 2011, so $500 worth of BTC back then would be somewhere between $1.4mil and $123mil today (as opposed to the $37mil that 500 BTC is currently worth).

hodler1992

It's their business model. They are not only holder but also miner which do sell BTC for investing and paying off loans. This is usual business

Holywizy

Fair enough, it was spread out over weeks and they still have around 20K BTC left. More curious if other miners start doing the same before the halving math gets worse.

f2pool-CSR3

Many coins and projects have claimed they would surpass BTC, but to date, none have succeeded.

DrCyb3r

A friend of my father actually mined back then using some GPUs and made "only" a few BTC a week (can't really remember the amount as it happened too long ago). He was very excited and my family thought it was some weird crap and it wastes electricity. I can remember seeing the mining rigs when we visited him and I thought they were cool. A few years ago he got a big property, built a nice modern house, bought himself and his kids some decent cars and is into HiFi audiophile stuff. During a dinner at his place he talked about this hobby and I think he bought some special cables for 10.000€ or so a piece. I guess he might have sold his BTC or he had won the lottery, who knows... Believe it or not, this story is actually real. But it might be story number 200.000 you read on the internet, so I'm not mad if you don't believe it.

_Stormhound_

My 0.1 BTC turned into 1.0

andys811

Wtf is 'blue wallet'. This isn't me being mean, this is me giving you a wake up call. You have NEVER truly owned any BTC ever, but that doesn't mean you can't.

Bakkus1987

That BTC is gone. That said, you need to give us more information if you want anything usefull out of this thread.

SayWuhhh

First real pullback after a fairly big pump from the 58k BTC bottom. That combined with the Binance hack, midterm elections and people taking profits from the August-September rally, we got a nice dip. Of course nobody wants to buy right now as is always the case when it dips lol

Smush-D

I’ve read about a guy freaking out here that his father hinted at having 500 BTC but can’t remember anything again. That he said he was paid for some work with it. The guy wants to tear the sub were I found it apart.

utilisat3ur

Hier soir un mec qui raconte l’histoire de son père qui lui dit qu’il avait possiblement 500 BTC. Au pire espacez un peu les posts histoire de paraître un peu crédible mais là franchement l’histoire elle devient bancale.

Hungry-ThoughtsCurry

Waiting for your son's post "My dad told me he has 500 BTC"

Cryptoxox

BTC has some resistance at around $74,100. If we can get a strong for our candle close or higher above this level and I think it will push breaking below $72,500 will open the door to lower levels

Alternative_Camp_109

Depends on your overall net worth. If you are worth $50M today, 3 BTC is very low allocation.

_Stylite

Please re-read my comment. We are talking about people’s expectations for Bitcoin, and some of us held through 100-1,000x gains in BTC, and 10x in other cryptocurrencies. Those are the returns people expected in previous cycles to justify the high risk of total failure, or for instance drawdowns underperforming stocks and specific equity sectors over long periods, and high volatility. Instead, now you still get the risk, drawdown, volatility, but instead of 100x or 10x, you can only expect 2x. So to justify the downside risk, people with strong conviction in NTC seeking the same returns as the past now leverage for equivalent gains.

Wuzz_Happnin

if it only hedges against inflation, then it never gains purchasing power, and 3 BTC is not much, 1 is basically nothing

dank-bobbb

I’m sorry this happened. If the transaction is confirmed, there’s no wallet-side way to reverse it; as \[Bitcoin.org’s FAQ explains\](https://bitcoin.org/en/faq#what-if-i-send-bitcoins-to-the-wrong-address), only the recipient can return the funds. Filing a report is still reasonable, though it can’t guarantee recovery. Keep the transaction ID, timestamps, screenshots, and wallet/device details for the police or cybercrime unit. And don’t share your recovery phrase or pay anyone who promises to get the BTC back.

Virtual_Access_2033

Don't you mean 500,000 BTC?

_Stylite

People leverage because the gains for BTC get less attractive every cycle, but risk is still high. We are lucky if we get 2x now at next cycle peak, from the “best performing asset in history.” Pretty disappointing if you are a long time BTC holder … unless you leverage ;)

Available-Garlic-776

I HOPE THIS Ain’t SATIRE because around 10AM today someone wrote this 😭😭😭😭 Yesterday I was telling dad abt Bitcoin. Just explaining what it is, how it works, and why people are so obsessed with t. And why they trust it. Then he casually drops something that almost made me fall off my chair. Apparently, back around 2011, he did some work for someone and might have been paid in Bitcoin. He doesn't remember the exact amount, but he thinks it could have been around 300 or 500 BTC I laughed. because I thought he was joking. Then he told me he might actually have had a wallet on his old laptop. Guess what? We can't find the laptop. I even searched on his personal stuff. I searched everywhere. obviously, nobody remembers the wallet password or recovery details. So somewhere in this world, my dad might be sitting on a fortune, or he might just have the most expensive imaginary story ever told at the dinner table. I asked mom about it and she said she doesn't know and remembers anything abt any BTC. I've gone from explaining Btc to my dad to potentially needing a therapist because of BTC I might start a new journey looking for that laptop. While my father is just chilling. I'm going crazy. I can't hold my breath anymore. My father thinks it's just 300 or 500 dollars. He keeps saying I'm making a big deal for just 500 dollars. Even tried to show him the charts. and explained to him how much it could worth rn. He just doesn't understand and he thinks im going crazy.

Familiar_Command_248

BTC is ruthless but it has to be that way, good luck OP, better to have tried and failed then never have.

hit_me_up_30

Lost BTC only drives the value up. But since it can be broken down into microbits, lost bitcoin is somewhat irrelevant, operationally. Theres probably less than five million lost coins right now.

rguerraf

Maybe he forgot that he bought a pizza for 501 BTC and still owes 1 BTC

hit_me_up_30

I was literally just saying that to somebody else on another post. There’s a dad who told their son they had 500 BTC on an old laptop. There’s a son who claims their dad has 500 BTC on an old laptop. And then there’s this post about 500 BTC being on some laptop. I’d love to see the Blockchain address for this post.

King-esckay

Trading is a best guess at best Win rate is largely irrelevant if you are managing your risk appropriately You can have a win rate of 30% so long as you don't carry the loses too far This is better managed with something a little less volatile than crypto such as shares. Crypto has such wild and big swings that trading is so much more difficult. With BTC is a bit more possible to trade but very hard to guess where it will be next.

hit_me_up_30

I mean I saw this post, just in reverse, I can’t find it right now but it said something like my dad claims he has 500 BTC on a really old laptop somewhere. And then I saw another person post about having 500 BTC on an old laptop somewhere. And then I saw your post claiming to tell your son you had 500 BTC on a laptop somewhere.

TheIndignantTroll

Shit, so that means BTC is like 20% more worthless than 5 years ago.

LearnBitcoinCom

Added, and thank you for pointing it out. It is on the timeline under 29 October, with a new section on the custody page: [https://www.learnbitcoin.com/history#2026-10-29-binance-loses-more-than-6-billion-to](https://www.learnbitcoin.com/history#2026-10-29-binance-loses-more-than-6-billion-to) You were right that it is mostly not bitcoin. The bitcoin part is 18,270 BTC out of more than $6 billion. The FBI's alert lists 19 Bitcoin addresses, and as of 10 November all of it was still sitting in them.

GeeEyeDoe

I love the sales the BTC CEO is doing this year

xcrunner2414

My theory—your dad is chilling because his story is a fiction. Every dad wants to be respected by his kids. He heard you going on and on about this new kind of money, and decided to fuck with your head by telling you that he might have 500 BTC.

Icenfiree

Bahaha poor kids going to need even more therapy than he does now by thinking you lost 500BTC

bigsears10

Yeah, OP, i think my remote has like 1000 BTC on it, could you come over? I’ll give half of whatever we find on it

Normalcommunist

just saw a post earlier about someone saying their father had 500 BTC. no fucking way

leopac1

I may be tripping but i just read another post possibly from said kid, saying his dad told him he had 300-500 BTC on an old laptop and is scouring through his home looking for it.

eckstuhc

Exactly. People don’t understand quantum/brute forcing/treasure hunting has been going on since BTC inception and always will. The keys will always be there, just may be in limbo until compute catches up.

sunsetreunion

The stability I am referring to is wealth-preserving stability. The numerical price of BTC priced in USD is not stable, and to the same measure, USD priced in BTC is not stable. Thus bitcoin and the dollar are equally unstable in terms of one another (from a numerical perspective), but bitcoin is far more stable than the dollar (from a wealth-preservation perspective). One can speculate as to whether bitcoin will continue to be a good tool for wealth preservation, but many people around the world have identified it as having properties optimized for this purpose: it is a scarce asset with a capped supply that can travel digitally as information. Stocks can of course grow wealth as well, but the mechanism is very different: intelligently selecting a company whose employees will produce a profit to the investor. Not everyone is good at picking productive companies, or remaining vigilance to the downside risks that come with shifts in the company's productive capacity and/or shifts in consumer demand. So for those who aren't good at investing, bitcoin serves as a wealth-preservation technology, protecting them from the significant disadvantage that comes with endless fiat currency expansion.

devCheckingIn

They might have less capital to buy BTC and ETH, and right now a lot of the buying pressure is coming from DATs like MSTR, Strive, BMNR, etc.

Gohanrr

Because I was advised the hot wallet so as not to be exposed to the platform but apparently we must be an expert to own BTC, if I knew the exact reason for the hacking I would not have done this post....

webshammo

I played with it early on. Bought 19 BTC for $40. I sold it days later for a tidy 20% profit ($50)

KSW8674

Lol not at all. Let’s bet 1 BTC. If this turns into a bull market in the next 2 weeks I’ll buy you 1 BTC. If the market is still down after 2 weeks you owe me one Willing to put your money where your overly confident mouth is?

Scared-Permit2587

Sorry for your loss. More argument for keeping BTC exposure in the one of the ETFs. Much safer

MuscularFrog13

If you had that much BTC you’d be moving to a place with territorial tax to avoid such taxes.

Alexander-305

I'd say the flows, at least for ETH. CPI hit everything, but on a 24h basis BTC is down about 2.3% while ETH is down about 4.2%, so there's an ETH-specific seller on top of the macro move, and roughly $550M of ETF outflows in about a week and a half is the obvious one. BitMine is real demand, but ~$20M a week against ~$185M out in a single day isn't close. And since most of its stack is staked, it shrinks liquid float more than it props up price day to day. The 24h low was about $2,003, so $2k has already been tested once. If outflows slow and that level holds, sellers start to look tired. If it breaks while the ETFs are still bleeding, I wouldn't lean on the round number much.

jasonslpt

Short side still looks like the cleaner path for BTC into the evening. Our Hunter Killer liquidation heatmap shows about $72M in 100x longs near 73,577 just under price, and the big magnet is roughly $717M in longs near 72,349, which is where we would expect a sweep to aim. About $164M in shorts sits right overhead near 73,780, so a quick poke up through that first would not change the lean. A reclaim and hold above 75,439, where roughly $302M in shorts is stacked, proves this view wrong. Not advice.

BeautifulSeason8387

yes, most people don't understand that and see etf like a good thing for btc. Institutions employ mechanisms of rehypothecation, which diminishes the potential of BTC; this potential ends up going directly into the pockets of the institutions.

KateR_H0l1day

BTC hit a new ATH in March, 2024, before the actual halving occurred.