Today a friend asked me if 77K was the bottom. I replied that I have no clue (and honestly i think nobody has). If this downturn is indeed due to the "paper bitcoin" scam (MSTR, coinbase and so on), it will only end when people get burnt and learn that they are being deceived and that that is not bitcoin. For the real price to surface, we need a critical mass of people understanding that bitcoin only exists on a bitcoin wallet and must be verifiable on-chain. Until then, they can sell infinite bitcoin. Am I wrong?

We need to stop normalizing the idea that you can buy bitcoin trough ETFs, Centralized exchanges and the likes. You can't and that is not bitcoin. (The image shows an excerpt from The Big Print) @Lawrence Lepard

What if the BTC price we see everywhere isn't the price of Bitcoin at all? 1. Bitcoin is only real on-chain. What's traded on CEXs is a Bitcoin-IOU, a derivative. Calling it "Bitcoin" is arguably fraud. 2. The "price" is just an average of signals from the biggest custodians. During crashes, P2P platforms show huge premiums for real BTC. High demand, falling price? Think about it. 3. How do we even know CEX order books are real? Are they audited? Or just numbers on a screen? 4. The real price signal should come from P2P, but even they use the CEX price as a crutch. The biggest elephant in the room is that everyone, from noobs to maxis, pretends this pricing mechanism is real. It's a massive blind spot.

It's funny because Strike did the exact same thing to me 🤣 @jack mallers

Is this a TradeOgre replacement? https://nonlogs.com/