Yeah, the MSTR trade was taken on a prediction of 48K overnight. I'm out at 1108 avg. I had EXT-GTC orders in above 1100. Earned just under fiddy.
I don't have a bearish leaning. I think it's interesting and useful to catalog the signs of speculative mania in BTC even though it may keep rising a while longer. Certainly there's no sign that the bull market is over, but it's best to keep an eye on what's going on down the road vs. just staring at the taillights in front of you.
Any past bubble in human history was fuelled with real money, this time around it is differed indeed, Bitfinex just prints tethers out of thin air to keep it going when it slows. Very interesting how it will play out.
Your use of the word ‘except’ moves the goalposts. There is evidence even though you discount it. Brushing up in the gold standard, history of reserve currencies and fiat decoupling would support understanding the current transformation - the shift from the gold to the Bitcoin Standard. Here’s a start https://www.bankofcanada.ca/wp-content/uploads/2015/12/bitcoin-standard-lessons.pdf
The answer is easy...he can do it and he does it...so many people endorse him and follow him...if they are so stupid why not take advantage of them...as for the environment he can always live in a nice artificial clean -air-clean - enviroment bubble along with some other rich and famous...if you are not part of the inner circle, tough luck
I like this approach. Could be applied to Madoff and Hitler too. ------------------------------- How is Elon saving the world by investing in one of the most wasteful assets? "The cost to mine pales in comparison with the cost to keep this monstrosity running and with the amount of e-waste it generates as hashing machines quickly deprecate."
And how has the gold standard destroyed the fiat system? If anything the fiat system has evolved from a gold standard into a system based on trust in the stability and continuity of the monetary policy issuing institutions. And that has worked for close to a century and still works perfectly well in our western democracies.
I have found this little piece of info, Elon should be so proud: "One bitcoin transaction releases 272 kilograms of carbon dioxide into the atmosphere. The average American household uses 30 kWh/Day. The energy usage of a single bitcoin transaction is 650 kwh." " * Those $1.5B USD should equal to around 43k BTC (pre-current pump), which according to data from this 2018 study equals to around 24 days of worldwide BTC mining or 1.48 Million tons of CO2, which is around 40% of the CO2 Tesla claims has been saved by their vehicles (3.65 M tons). In 2021 numbers the real impact should be even worse as miners have moved from China to even more polluting-grid Iran, the mining rewards have reduced since that study, and this move will keep pumping the crypto market. So in a single whim, Musk just undid at least 40% of the progress for which his eco-friendly company claims credit."