Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
Whatever you do please don’t keep any Bitcoin on exchange, take them off exchange and in a wallet you have the keys too.
Not your keys not your coins is a very true saying as all those who’ve had coins stolen via hacks of exchanges will unfortunately testify.
My other advice would be to do similar to me and buy monthly to smooth out the highs and lows , yes you will miss the cheapest BTC price but your also cutting the chance of putting everything In at the top and been stuck for 4 years waiting for the next cycle.
GL
Hi Tyke68
I believe the answer to the question you pose is that many perceive it far easier to buy a Bitcoin related stock rather than setting up a wallet, buying off an exchange and self custodying .
It’s actually far easier to buy Bitcoin once you have got your head around it , I’ve been buying £xxx worth every month since 2014 in that time I’ve paid well below $1k & above $60k with my average sitting @ $2.4K per coin . I’d very much advice anyone making a first purchase to start with an insignificant amount for then (£10 worth ) just to get used to the process.
That way if you drop a clanger you don’t lose to much .
In previous cycles the miners ( share price ) has outperformed Bitcoin during the bull faze by several times thus offering 10-50times leverage to the underlying BTC move . But folk mustn’t forget the the same is true on the way down with the overwhelming majority of Bitcoin related stocks down 92-95% against a Bitcoin fall of 75% ( current cycle low ) . Ppl should have a strategy to ensure they take profits on the way up , sadly most think they’ll sell out at the top and end up holding ( waiting and waiting for the top the influencers have called ) whilst the smart money will have scaled out on the ride up .
A word of caution. I’m extremely positive on Bitcoin medium and long term , I’ve stuck my neck out on several occasions and called the beginning of the next bull run to start April/May and a year end price target of $38-$42k . However we have seen the current type of market action on several occasions leading up-to major macro announcements in the USA , Bitcoin surges prior to the announcement only to fall back on disappointing news . Just be a little cautious today , hopefully soft inflation news will push BTC about the $25241 resistance and could open up a nice $4k-$$5k move to the upside, the alternative hard information data could easily knock 10-15%off over the next few days . Let’s hope this time we continue upwards . My HUNCH is the FED are stuck and will look for excuses to become dovish as each new rate hike is likely to drag down more and more banks who’ve borrowed @ 2-3% and are now forced to pay out 5-6% to savers ( or the savers withdraw cash to institutions that will pay that rate ) creating a liquidity squeeze for these small and medium sized banks . The bigger picture is even if the FED putting a sticking plaster on the wound the these banks will bleed slowly to death over the Next 2-5years . It’s a systematic problem now and pretty much set in stone ….. Having wealth in gold , silver and Bitcoin is possibly the only way to avoid the inevitable….. Bitcoin theory playing out beautiful, time & patience will prove satoshi correct . DYOR GLA
Intel chip update.
All the major BTC miners have now released production figures for February and it looks as if the two miners definitely using the Intel chips are the most efficient on the Bitcoin produced per / EH With one recording 91 and the other 90 , the next best miner is producing @ 87 per Eh . As I’m always at pains to point out there are many many factors that differentiate mining companies so it’s not a conclusive metric but probably not a million miles off accurate.
It should also be noted that one of the firms using the Intel chip have said that some issues have arisen in the first two
Months which have yet to be fully resolved.
I will not name the two companies mentioned as I’m invested in both so don’t wish to be accused of cross ramping but the information is widely available to those using Twitter or YouTube .
Big day for the markets today btw , hopefully American inflation comes in soft which will almost certainly signal no more rate rises in the next few months and should put a rocket under stocks and assets, conversely a hot inflation print and it’s down we go . . Bitcoin could very easily be $19k or $30k by the end of March but longer trend of higher lows and high highs is very firmly intact !
GLA
The big American banks GS , JPM in particular are well know for trading against the advice they give to their clients. When they advise sell you'd do worse than to at least sit tight or if your feeling brave buy .
Goldman’s calls on oil have been woeful for years yet there trading desks have made handsome profits out of oil trading which tells us at very least their trading desks don’t take the advice the house strategist give .
I’ve no doubt there’s increased interest in lithium and more mines planned but it takes years if not decades for projects to produce but in the meantime the industry requirements are growing rapidly, such a bearish call from GS is very hard to justify given the outlook imo .
GLA
If I’m honest Addi I’m not entirely sure of the point you are making but I take it in good spirits because you added a smile so clearly no malice intended.
off the top of my head I can think of two Bitcoin hard fork coins that have crashed and are either on their last legs or the project is dead , Bitcoin Dimond and Bitcoin Xt , so just because it’s a fork from Bitcoin doesn’t necessarily mean it will be successful, we also have to be mindful that that not all forks from Bitcoin use the SHA 256 algorithm so additional work maybe required for QBT to gain a significant advantage in mining speed and efficiency.
My understanding of ordinals ( and tbh I don’t fully understand them yet ) numbers each satoshi individually so in theory gives 100m x 21m potential ordinals , it would appear this is an unforeseen consequence of the Taproot hardfork which some of the BTC core development team are pushing back on quiet hard , potentially creating another forking war , it seems it’s very much the OG’s against the young Turks , having looked into it a little I see very few positives ( other than miners getting more rewards) and several quite worrying potential negatives .
SEC chair Gensler confirms “everything other than Bitcoin” is a security:
With this news breaking QBT would be very well advised to stick to Bitcoin mining, it’s very clear the only a tiny tiny number of the roughly 22700 alt coins will survive the SEC clamp down .
In my humble opinion this really forces any serious miner / developers towards Bitcoin at least in the short to medium term as it’s likely to be the only crypto that ppl of the USA and Europe can invest in legitimately and put in pension plans / savings scheme that are regulated.
I’ve long said I think the BTC winter will end in April /May , we’ve had a little run already and a nice retest of the $22400 level , the interesting development is Hong Kong and it’s plans to be a crypto hub from June , this could and should be a nice springboard for BTC , FG really needs his ducks lined up to take full advantage of the potential move . Time for action after 18months Of promises .
Ordinals From what I read on here several regular posters contact the company/FG from time to time , I just wondered if anyone has mentioned ORDINALS and there potential to generate an extra revenue stream for BTC miners? It would be interesting to see how QBT are positioned as it would appear Ordinals are one of the first really big second layers on Bitcoin . I know at least 3 of the miners have teams working on projects associated with NFT’S and Tokenisation just interested to see if QBT were going down a similar route having declared interest in mining coins other than Bitcoin.
Bought 200k shares @1.22p on Thursday having had.TM1on the watch list for the past 6 months or so , I’d placed an order for 250k but couldn’t Get it filled @ the them market price of 1.19p so had to scale back a little.
Bought in mainly because I know someone working at the Tipton site who’s pretty clued up , I’ll probably look at the situation once the license is granted, but safe to say I’ll look to add at anything below 1.5p as the company looks very under valued @ current market cap .
GLA
From Adam Back
early this year i was curious of the claim "bitcoin 2x's per year on average". it checks: the decade jan 2013 - dec 2022 #bitcoin went up 2.036x/year (1200x in a decade). if that continues we'll cross $10mil/BTC and $200 tril market cap by end of next 2 halvenings, about 9 years.
If you know who Adam Back is you’ll understand the true significance of this tweet .
Although I accept there’s always risk in exploration companies the fact that Paul Johnson of POW has a large stake here provides me with reassurance and confidence , he certainly knows his stuff when it comes to small cap gold companies. GLA
Forget what the CEO of massive money management companies say publicly about Bitcoin.
Blackrock have taken a 8% stake in silvergate bank this week which has gone somewhat under the radar and is massive vote of confidence in the crypto industry,this follows JPM getting caught out as one of FTX’s biggest creditors. Both companies publicly bearish on Bitcoin and crypto yet secretly investing $bns .
Don’t listen to the noise it’s the signal you should be paying attention to .
Hi Tyke68
Good to see you still posting on here , are you on Twitter?
Btw Fleecy if you think your fooling anyone with your new persona please think again , but it’s good to have exposed why you are so bitter towards Bitcoin………. FOMO rekt !
Bitcoin did not drop from $60k to $48k overnight, in fact it took 8 weeks to drop that far from the April high and 11weeks to drop from $67k to $48k after the November peak hardly overnight rug pulls by greedy whales . And once again been frank if you based your investment on media speculation then you only have yourself to blame you got rekt .
Interesting change of sentiment from the German public who now seem to want nuclear energy again , not expecting an overnight change in German policy but the tide is turning in favour of sustained higher uranium prices !
With respect if you bought last year you clearly haven’t understood the Bitcoin cycle and what drives price . The halving ( reduction in availability) and increased adoption drives price . Each cycle more holders remain committed thus driving adoption ( moore’s law ) we can see this playing out perfectly with higher lows and higher highs each cycle.
We can also see from on chain analysis that long term whales have held through thick and thin , most ppl who blame whales for price movements don’t grasp that the overwhelming majority of so called whales are in fact exchanges such as Coinbase, kraken , FTX Or funds such as GBTC who’s holdings fluctuate every second of the day .
Think of Bitcoin as a social network, as it grows more ppl hear of it , gain interest and jump on board , sure some don’t understand it and once they hit the first bump in the road bail out , but each mile more ppl get a deeper understanding and become committed.
Government CBDC are completely different to Bitcoin, there centralised, will have no limited supply and in effect are just fiat in another format, the USA floating the idea of a $1trillion coin shows exactly what a Ponzi financial system we are currently operating there CBDC are just a desperate attempt to keep a failed system afloat .
13:30 GMT is the time to watch , US PCE index figures released, which will give a large pointer to the FEDs next move . At this point it will only be the market’s interpretation of the figures but it’s sure to move sentiment. I do agree it’s anyones guess $18.5k-$25K by Monday morning, I slightly favour the upside as all indications are prices are falling in the states , but hands up that’s my bullish biased probably talking.
It will be very interesting to see if we get another Friday pump today . The bulls are holding $22.5k with the bears clearly defending $23k vigorously.
If we can break and hold $23k that opens up $25k the good news there is there’s very very little resistance between $25k and $31k as Bitcoin has spent very little time in this area both on the way up and the way down, the halving tracker suggests a rise to the $30k area in the next 7-15 days IF we are following the 2016 cycle , the 2012 model suggests a fairly sharp pullback in a similar timeframe to around $18.5k .
My personal hunch is there’s a lot of pent up demand for BTC and we’ll see a continuing rise in coming days and weeks especially if the FED and central banks ease their hawkish stance. I think this is probably a rally based on the slight easing of global liquidity however these things can snowball quickly and what starts as a slight relief rally can gather momentum as FOMO kicks in . I’ve long stated the first signs of a bull run should start in April/May it’s looking like I could we’ll have made that call a little late , only time will tell .
GLA
Absolutely hilarious that JPmorgan ,you know the company lead by Jamie I hate Bitcoin Dimon has been exposed as one of the biggest creditors in the FTX bankruptcy filings.
Do as I say not as I do eh Jamie , you con artist . Remember these big banks nearly always trade against the advice they give there clients.
Bitcoin- slowly then suddenly;)