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More approved use means more standard financial industry products using BTC, means more overall volume/value in BTC, means higher price. Of course people holdin

More approved use means more standard financial industry products using BTC, means more overall volume/value in BTC, means higher price. Of course people holding BTC will like that.

Barrin92 3y ago
>Of course people holding BTC will like that. Given that the original Whitepaper is titled: "A Peer-to-Peer Electronic Cash System" and a news article describing the 2009 bank bailout is literally baked into the very first block people celebrating slow morphing of Bitcoin into a traditional finance product is at least a little bit funny. Instead of a hedge crypto is now just effectively a correlate of the financial markets.
- dogman144 3y ago
  Conversely, traditional finance making products based on an asset which some of the most radical anarchocapitalists hold market-moving amounts of, bodes well.
  - Barrin92 3y ago
    Does it? Traditional finance is no stranger to extremely speculative assets, the difference is just when those assets go to zero for the banks it's a tiny fraction of their portfolio, for all the anarcho online enthusiasts it's usually their savings. Reminds me of the Gamestop fiasco one or two years ago.
    - dogman144 3y ago
      Yes, if in your mind a summer of Gamestop meme trading equals a technology with 40 years of research from the top applied cryptographers, 10 years of production testing, and an asset with thin markets and extremely asymmetric holdings. The ability to easily reduce crypto to some hot take and equivalence is why otherwise quite smart people keep missing the space for the last decade.
dogman144 3y ago
Yes. If in the space long enough, this is a mainstream indicator of institutional adoption, paired with the inst trading volumes already there. Suggesting either could happen would get someone laughed out a room really not too long ago. If you were around for $3k btc, those intervening years saw: * first national current adoption (ES) * futures contracts from CME * institutional trading volumes CEXs and DeFi * first rounds of crypto being able to pull FAANG-types for jobs * countries approving it for contracts (Argentina) * looks like an imminent ETF * funding UKR war efforts faster than US govt could manage - $50m overnight iirc * arms deals via aforementioned funding A lot has happened! Bodes well

More approved use means more standard financial industry products using BTC, means more overall volume/value in BTC, means higher price. Of course people holding BTC will like that.

Barrin92 3y ago

>Of course people holding BTC will like that. Given that the original Whitepaper is titled: "A Peer-to-Peer Electronic Cash System" and a news article describing the 2009 bank bailout is literally baked into the very first block people celebrating slow morphing of Bitcoin into a traditional finance product is at least a little bit funny. Instead of a hedge crypto is now just effectively a correlate of the financial markets.

dogman144 3y ago
Conversely, traditional finance making products based on an asset which some of the most radical anarchocapitalists hold market-moving amounts of, bodes well.
- Barrin92 3y ago
  Does it? Traditional finance is no stranger to extremely speculative assets, the difference is just when those assets go to zero for the banks it's a tiny fraction of their portfolio, for all the anarcho online enthusiasts it's usually their savings. Reminds me of the Gamestop fiasco one or two years ago.
  - dogman144 3y ago
    Yes, if in your mind a summer of Gamestop meme trading equals a technology with 40 years of research from the top applied cryptographers, 10 years of production testing, and an asset with thin markets and extremely asymmetric holdings. The ability to easily reduce crypto to some hot take and equivalence is why otherwise quite smart people keep missing the space for the last decade.

dogman144 3y ago

Yes. If in the space long enough, this is a mainstream indicator of institutional adoption, paired with the inst trading volumes already there. Suggesting either could happen would get someone laughed out a room really not too long ago. If you were around for $3k btc, those intervening years saw: * first national current adoption (ES) * futures contracts from CME * institutional trading volumes CEXs and DeFi * first rounds of crypto being able to pull FAANG-types for jobs * countries approving it for contracts (Argentina) * looks like an imminent ETF * funding UKR war efforts faster than US govt could manage - $50m overnight iirc * arms deals via aforementioned funding A lot has happened! Bodes well