Dear COLDCARD attackers,
Congratulations. You successfully found a bug, exploited, and have collectively gathered around 1,500 bitcoin.
Now you are sitting on one of the most blacklisted coin stacks in history. It will be nearly impossible for you to exchange for currency or deal with any institution. Every move you make will be highly scrutinized and tracked. Presumably for the rest of your lives, you will be looking over your shoulder.
I suggest you plea with CoinKite to return all stolen funds in return for an audit fee of 5% of the loot. This way your work is rewarded and you are able to enjoy the fruits of your labor.
Respectfully,
hodlers worldwide
Bitcoin is the perfect virus
it lures you in with the idea of getting rich
but then teaches you that you’re a slave in a broken and evil financial system that’s destined to fail
Because money is a network good.
Liquidity feeds more liquidity. And eventually broad enough liquidity feeds stability, which makes it more usable. Which then feeds more liquidity.
It is similar to why we are here on this platform whether or not we like the recent owner.
Bitcoin can’t win or solve big enough problems at a $500 billion market cap. It’s to small, widely dispersed, etc. It is a venture money bet in that range. And without fees it would eventually be capturable. Bitcoiners are each small candles in a world of darkness, unconnected and volatile, with only small hubs, at $500 billion.
Like, my family and friends in Egypt? “Bitcoin”? Barely heard of it. Too volatile, too small, doesn’t matter, can’t help them day to day unless they put in a few hundred hours and get the laser eyes, and have enough financial privilege to absorb the price volatility and hold it for 5-10 years as a savings asset.
But when Bitcoin is 5x-10x bigger? And more widely dispersed and less volatile due to being further along in its venture journey of adoption? And having more media recognition with yet another all time high? That helps. The network of candles gets electrified and connected. Darkness becomes light.
Plus price is a market signal. A 5-year stagnant price is a negative signal. More specifically, bitcoin price has a lot of correlation with global liquidity. As long as bitcoin price rises with global liquidity, that is good. If bitcoin price fails to rise during rising periods of global liquidity, it is potentially a signal of network illness. Ongoing price increases are evidence of adoption and positive market signals, especially when adjusting for global liquidity. A good technology should increase in market size.
But it’s a good question. Despite being bullish, I have emphasized the FinCEN challenge rather than the presumed ETF price bump. People should keep their eye on the ball rather than get drugged with price bumps on their bags.
Humanitarians and freedom fighters, however, should not let price get in their way. Higher market capitalization and liquidity enables them, validates them, and is a necessary step along the way.
At best each millionaire could only split .37 #BTC evenly amongst themselves.
This is at best because it hypothetically considers all coins available.
However this is not the case.
Currently there are only ~1.85 Million BTC available on exchanges.
If we take into consideration the total number of millionaires in the world (56.1 Million) - the number of #Bitcoin millionaires (~40,500) = (56.06 Million)
1.85 million/ 56.06 million = .03 #BTC per millionaire.🤯
No point in waiting around to see what the masses do with this information, STACK.
You are stacking #Bitcoin but you have less than 1 and may never own one? Don't panic, it doesn't matter. Let me tell you why:
Being able to call 1 Bitcoin your own is getting increasingly harder for most people as time goes on, and immeasurably harder at that. In my opinion, this development is far too rarely noticed and that is because it is progressing quite slowly - yet continuously.
In a few years, there will be so unimaginably few individuals proportional to the total number of people on the planet that those individuals holding 100,000,000 Satoshi will be a rarity. Even crazier, further into future it will probably be hard to imagine that there were people who owned 100 times 100,000,000 Satoshi, or even 1000 times 100,000,000 Satoshi.
The 1 Bitcoin target, becomes a 1/10 Bitcoin target, which in turn becomes a 1/100 Bitcoin target. With each halving, this target decreases further.
Even though 0.1 Bitcoin is not much to many people today, I would like to point out a fact that proves to you that 0.1 Bitcoin - 10,000,000 Satoshi - is not only significant, it is generational wealth.
Let's jump to the year 2044, which is about 20 years in the future. The 9th halving will most likely happen this year, the 9th epoch of the Bitcoin inflation plan starts: for the first time ⅒ of a Bitcoin will be issued every ~10 minutes: 0.09765625 per block.
Owning 0.1 Bitcoin in 2044 is proportionally the same as owning 6.25 Bitcoin today. The block subsidy is identical in relation to ownership in both cases.
If you have 10% of 1 Bitcoin today, in ~20 years you will be the owner of an entire block reward, for which millions of people around the world simultaneously sacrifice their energy and time for ~10 minutes.
Your goal should not be fixed on a certain amount of Bitcoin, but your goal should be to be able to call the block reward of one Bitcoin block your property as early as possible.
Even if it takes longer to achieve this, time plays into your hands due to Bitcoin's inflation plan and despite rising price values. All you have to do is owning some and hold.
#Bitcoin Shrimp (< 1 $BTC) 🦐 are stacking sats at a rate of 33.8k $BTC per month.
Issuance 🔵 is ~27.0k $BTC/mth
For every 1 new coin, Shrimp are taking 1.25 off the market.
Crazy conviction on display.