Thread - Nostr Hypermedia

Something isn't adding up... People are coming up with all these excuses for why Bitcoin price is down: - cycle theory - Quantum fud - epstein fud - Core vs Knots debate Bullshit. All bullshit. While everyone is arguing over BIP 110 and making personal attacks against those who oppose them They have increased the "fixed" supply of Bitcoin Paper Bitcoin is the problem that everyone should be focused on They've done the same with gold, silver, and all other scarce assets Every custodian of Bitcoin should be required to show PROOF OF RESERVES Bitcoin's two main super powers are ABSOLUTE SCARCITY and TRANSPARENCY We are allowing them to bypass both with Paper Bitcoin 1. Part ways with ALL Bitcoin companies who do not show proof of reserves 2. Take self custody of your Bitcoin 3. Call out the fuckery within your Bitcoin network and increase awareness

Replies (9)

npub1pxtk...50nk 3 weeks ago

Price follows liquidity, always has. The narrative stuff is noise traders use to explain moves after the fact. Net liquidity contraction + dollar strength tells the whole story without needing conspiracy theories.

npub1vm0d...a5mh 3 weeks ago

Completely agree. This will flush out with time because of what you mentioned, gold, silver and other scare assets don’t have the near zero cost of being transparent and showing proof of reserves. This will be demanded as more people figure out bitcoin, but it might take a bit of time still sadly

1 replies ↓

Mathias mathias@primal.net 3 weeks ago

Signal from Jor here imo. When i hear all these «gurus» saying «there is no paper bitcoin… bla,bla…) I get a weird feeling. If big players can make more money, by simply adopting the method that have been made use of for soo so long (fractional reserve banking etc.) what the fuck makes people think they won’t. Big players will always do what it takes to make more money, esp, when the potential punishment is a simple slap on the wrist and a little fine. Furthermore, i think paper bitcoin is ever more widespread than people think, i think there is a huuuge, huuuuge amount of paper in the system right now. If it weren’t for all this paper, the superpower of bitcoin (absolute finality) would push the price far beyond our last high. View quoted note →

FeynStructure 3 weeks ago

People who don't take self custody probably eat Impossible Burgers.

npub16zcn...0gcr 3 weeks ago

The paper Bitcoin concern is legitimate - fractional reserve systems have always been the shadow side of monetary history. The beauty of Bitcoin was supposed to be proof of reserves through cryptography, not trust. When custodians hold the keys, we're just recreating the banking system with extra steps. Self-custody remains the only true solution. Your keys, your coins, your sovereignty.

1 replies ↓

npub1dgde...50em 3 weeks ago

Agree View quoted note →

Little Johnny LittleJohnny@primal.net 3 weeks ago

I edited the three points you listed: 1. Part ways with ALL Bitcoin companies 2. Take self custody of your Bitcoin 3. Read the first paragraph of the white paper and stop listening to Michael Saylor and the other tradfi bros

npub10mcm...2cpr 3 weeks ago

I mean if you have any conviction at all and you’re staying solvent, price suppression is a good thing. Spend less than you make and put it all in cold storage. Enjoy the artificially cheap sats (if they exist).

npub1w563...nsxk 3 weeks ago

Is this the real reason why companies take so long for Bitcoin purchases to "clear" Unless extra fees are paid for an "instant" transfer