Holy fck…
A lot of bitcoiners will say that “Bitcoin is…” and compare it to energy, then in the next breath say Bitcoin is just money and advocate for the approval of BIP-110.
Are you retarded?
Energy has never been bottlenecked into being just money. Or just electricity.
It powers everything.
Bitcoin is the same way.
It’s money, a settlement layer, a store of value, a computing network secured by energy, and a protocol that anyone can build on.
Trying to force it into one narrow definition misses the entire point.
The funny part?
BIP-110 is most likely dead on arrival anyway. Right now it’s signaling on less than 1% of blocks.
Even if you somehow rented enough hash rate to push that above 10%, all you would accomplish is forking yourself onto a different chain and creating yet another shitcoin.
We’ve already seen how that movie ends.
Bitcoin Cash. BSV. And every other fork that thought it could replace Bitcoin.
If you genuinely think BIP-110 failing is somehow the end of Bitcoin…
You haven’t been paying attention for the last 17 years.
You might as well sell me your coins now.
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Whenever you see Bitcoin's price drop, check the power law chart.
Bitcoin's price currently sits at around $66,000 per coin.
The support level (that Bitcoin has never dipped under), is c.$58,600.
It's linear value (ie the green line), suggests Bitcoin should be around $165k per coin today.
The resistance line, that it surpassed in 2014, hit in 2018 and got 70% of the way to hitting it in 2021, is $581k today.
This tells me one thing: Bitcoin is undervalued, underappreciated & misunderstood.
For those that understand what it is, this is an opportunity.
This is like $5k in 2020, or $16k in 2022.
What would you give for an opportunity to buy at $16k again?
We'll be speaking of $60k in the same way in 2029.
There are calls that Bitcoin is dead. That this is the start of Bitcoin going to zero. That its going to drop to $40k before miraculously returning to an ATH.
All predictions made by people who are using emotion, rather than historical data & math.
Bitcoin as incredibly oversold at these prices.
It wont stay like this forever. Those hoping it fails are going to be in the wrong side of history.
I'm buying more.
SpaceX just revealed it holds $1.4B bitcoin more than Tesla -- and held every single coin through the crashes.
Meanwhile, Mark Cuban panic sold and called Bitcoin a "failed hedge."
Weak hands out, strong hands in.
New News Block breaks it all down 👇
Cypherpunk Jameson Lopp and other Bitcoin developers propose BIP-361 to freeze quantum vulnerable wallets.
This could lock dormant BTC like Satoshi Nakamoto’s 1.1M coins, now worth $74B, before quantum computers can steal them.