And you wonder why some folk have trouble understanding #Bitcoin!

GN

Here’s a thought. Whenever people buy #Bitcoin from an exchange they are exchanging fiat for BTC. Never mind what currency they use to buy, it’s the miners who are at the end of the supply chain. The miners buy energy for BTC and with 37.8% of miners in USA, they will be paying in dollars. That means that dollars are entering USA fiat economy at the rate of… 37.8% of 3.125 BTC every 10 minutes, 6 times an hour, 24 hours a day at $100k each. If I’ve got my sums right, that’s $17m per day effectively being injected into Dollarland to cause more inflation. Is this significant?

Let’s hope that #Bitcoin can hold onto today’s recovery to over $100k so we can record a new ATH with the added bonus of an extra ring of power.

And then it c-r-a-s-h-e-d, which means that the chart (which gets live prices throughout the day) forgets there was ever an ATH.

OMG, #Bitcoin over $100k made BBC headlines in the 7 o’clock news

Over $100k and the scale of the graph adds another factor of ten. The fiat equivalent of #Bitcoin spirals into a black hole of oblivion.

I’ve been having a conversation with ChatGPT about which traditional stores of value are likely to collapse. Its conclusion… “Fiat currencies are the most likely to lose their value as a store of wealth first due to inflation, central bank policies and the rise of decentralized alternatives. Art and collectibles could follow, driven by their niche appeal and competition from digital equivalents. Precious metals and real estate are more resilient, with real estate likely to be the last to lose its appeal due to its intrinsic and universal utility.” It seems the issue of negative equity in the housing market will be well signalled. Take this as your 5 year / 2 year / 6 month (delete as appropriate) warning.

Oh, somebody please make one of those #Bitcoin death knocking on doors memes with $100k €100k £100k

To expand Edward O Wilson’s observation… We have Paleolithic emotions, medieval institutions and godlike technology on which we built our monetary system.

You can’t make this stuff up. An animal rights group has asked The Sly Old Fox pub in Birmingham to change its name, claiming it is offensive to foxes.

Just to be a bit pedantic: something is WORTH what you can get for it. Something COSTS what you have to pay to acquire it. Just a little poke at @Joe Nakamoto on X. 😉

#Bitcoin; so close.

US markets open in one hour. As I see it… Houston, we have 60 minutes to lift-off and counting. We are good to go. Stand by.

So close. View quoted note →

The hippies understand…

Chorale21 - BTC Map Merchant

Easily find places to spend sats anywhere on the planet.

In the next few years it will become unsafe to do the weekly food shopping alone.

Help needed! The committee of my choir are threatening to close its #Bitcoin payment rails. I need to show there is support for Bitcoin out there. So I have added the choir on BTCMap (

Chorale21 - BTC Map Merchant

Easily find places to spend sats anywhere on the planet.

) and added a page on the choir website (https://chorale21.org.uk/bitcoin) So please… Donations of any size would help keep these fiat naysayers at bay. Go to our website or use our lightning address: chorale21@coincorner.io Peace and love