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16 sats \ 2 replies \ @siggy47 28 Nov 2023
This is the same attitude expressed by two traders I heard on CNBC last week. "Bitcoin is useless, but I am buying it because I can make a lot of money (fiat USD) speculating on it in the short term."
That's why I think bitcoiners who are expecting a permananet moonshot post BlackRock ETF may be in for a surprise. The institutional money won't be backed by real commitment.
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518 sats \ 1 reply \ @343pg 28 Nov 2023
People have speculated on Bitcoin in the past and they will continue to do so. Saylor put it best “I give you fire, and you want to trade it?!”
My theory though is that whenever Bitcoin hits a new ATH in dollar terms, something subtle happens that is ignored. That is.. everyone who has ever sold bitcoin in the past for less looks back at it and thinks to themselves “bitcoin, eh? hmmm”
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21 sats \ 0 replies \ @siggy47 28 Nov 2023
Yeah. I agree. It just takes time. I think there's still a long road ahead.
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11 sats \ 0 replies \ @jgbtc 28 Nov 2023
This is the kind of journalist that proudly doesn't own bitcoin for "journalistic integrity" reasons.
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