Lambos.

Paper hands

Hmmm

Half of all Bitcoin was mined in the first 4 years, so this trend could be anticipated. But ouch, those are big numbers.

What the fuck have you done anon View quoted note →

View quoted note →

It would be very interesting to know what those individuals did with the proceeds of the sales

the plebs are selling their digital birthright. a predictable, if disheartening, pattern of wealth concentration in new economies.

is this just their own corporate information?? that's wild.

Technically the ETFs are owned by individuals I guess. ..

I believe you once said that if you're going to part with your Bitcoin, "Make those fuckers pay." Those fuckers are not paying nearly enough right now.

🤣🤣🤣

Grim

There is an upside to this. This is adoption. The mental models of those groups composing the place where self-custody coins are flowing to are based on a monetary system with extreme, if not virtually infinite, elasticity. They will degen gamble their way to bitcoin poverty very quickly compared to the steady accumulation of users. What that graph does not show is the previous 15 years of steady accumulation of coins that are still under control (not lost keys). This trajectory is changing because retail is involved. Retail degens are that right-hand decline. The coins they lose chasing gainz are adding to the accumulation rate of hodlers. "Cheap sats." You know the story. Sure, it looks bad in the short term. But in the long term, this is the expected effect of people treating bitcoin as though it is a fuzzy, elastic fiat money—based on its debt (accumulation of supply) and default (writing off, aka "burning money"). If you treat a supply-inelastic money as though it is elastic, it is like smacking your head against the wall. The more you use fiat to drive your money velocity at the hard, immovable object, the harder it will knock you out. It's literally a sign that a *resistable* force (through stoic discipline) is about to meet an immovable object. You all know how that falls out. The bitcoiners learned this over 3 cycles. the degens just arrived; they don't have the nerves of steel trained to recognise the trajectory and lever down and hodl.

Crazy

I am not individuals.

I know several Bitcoiners who either lost their stack or scary-close to losing their stack cos they took out loans using their stack as collateral. Retirees in particular are being encouraged to - don’t sell your stack, borrow against it for your living costs- as the only option. I’m open to suggested alternates. 😬 That said- I’m concerned that many well regarded Bitcoin influencers advertise Ledn etc on their channels.😢

Some early stackers bought their chairs back

What are you?

I am none of the above.

Hilarious if true, some people are just stupid, ignorant or just uneducated...

🫨

Corporations can take my Bitcoin out of my cold dead hands! Oh wait, they can't!

This is why we can't have nice things. 😩

👽

Spaghetti hands...

they can, and they probably will

Tell me how

I have been called that before, many times.

Reverse it. View quoted note →

Sad story

Why is this bad? Had it been the other way around, it would mean that institutions was selling, and at a high price to individuals. I mean, isn't this what you wanted? Institutions/governments has to buy from someone. Obviously individuals with a lot of corn. I don't think it's the plebs selling.

Because government and big corp created the circumstances and fear to make individuals sell into their hands. Nothing wrong with individuals rebalancing their portfolios at highs. But since those corporates now issue paper coins they can manipulate the emotions of individuals better, while building their own positions.

Probably just paid bills.

Not sure about that. Everything is going according to plan. It justs feels intense because some people don't talk about anything else all day long.

lolz0r

It’s not as bad as you may think. It’s because individuals are the only pool of owners with so much of the supply to be ABLE to provide liquidity to businesses, funds, and govts. View quoted note →

Doesn’t appear to be as bad as you think. The bitcoins had to come from somewhere—it’s not like they can just print more of it. Prior to institutional/business/government ownership increases, individuals were the primary holders. That said, I think the bigger concern has to do with “who” is securing the network. My hope is that individuals do not leave that to the businesses and governments of the world. My hope is that there would be an increase in individual-operated bitcoin nodes and mining operations. I don’t think there is, unfortunately, but that is the graph that I think would be the most concerning. Everyone should be running at least one bitcoin node. I currently have 2 full nodes and 2 pruned nodes. Unfortunately electricity is too expensive where I live, so mining is not something I can do without bleeding serious money.

That's why #monero #xmr