Quote from: philipma1957 on July 09, 2025, 09:00:29 PM

Quote from: Btcdeybodi on July 09, 2025, 08:17:58 PM

Quote from: Ivystar5 on July 09, 2025, 08:01:38 PM

$112,000k
Can't be less grateful 🤝

until it hit $120k
We can't be more grateful

Road to $120k before the end of July, that's all we ask for Lips sealed

Hope am speaking your minds Huh

well I have booze that is
114 proof
120 proof
123.8 proof

when and if we clear the 123.8 proof Booze I will be grateful.

Maybe the BTC price will shoot above $124k before Sunday and you will be stuck with three bottles of outdated prices?

Quote from: cAPSLOCK on July 09, 2025, 09:36:06 PM

Quote from: JayJuanGee on July 09, 2025, 09:32:57 PM

Quote from: ChocolateBitcoinK on July 08, 2025, 12:31:46 PM

https://x.com/thomas_fahrer/status/1942401080106930663
Blackrock Buys 1388 Bitcoin
Now Holds 700,000 BTC

Quote

Since January 2024, the iShares Bitcoin Trust (IBIT) ETF, BlackRock’s spot Bitcoin ETF, has attracted over $75.5 billion. To date, 700,307 BTC are under its control. This is 55% of all BTC held in US ETFs. Alone, IBIT even outperforms the well-known iShares S&P 500 with a +82.67% performance in six months.

https://www.cointribune.com/en/blackrock-surpasses-700000-btc-with-its-bitcoin-etf/
It is truly a huge deal that BlackRock currently holds more than 700,000 Bitcoins. The way BlackRock, as the world's largest asset manager, is increasing its investment in Bitcoin, proves how positive they are about the future of Bitcoin. Everyone should be inspired by them about the true potential of Bitcoin. Holding more than 700,000 Bitcoins is no small feat, and many other big companies like MSTR, Tesla, Marathon Digital, and also many more, they are also holding Bitcoin in large quantities. Seeing their holdings, everyone should develop a Bitcoin investment mindset. The way they are optimistic about Bitcoin now and the rate at which they are accumulating Bitcoin, they are the only ones who will achieve the greatest success in the future.

Sure. Blackrock is managing 700k BTC, and sure they have power over the coins, but in some sense they are also a fiduciary that has responsibility to backup the shares with bitcoin, yet I am not going to even presume that they necessarily have all of the coins that represent those shares that they issued and I think it still is a bit confusing to proclaim that they are accumulating unencumbered coins with other people’s money. There are probably better ways to refer to Blackrock’s supposed accumulation of BTC to represent the bitcoin shares that they have so far issued.

For better and worse, we agree on a lot here, I think.

On one hand, it's hard to imagine the collusion that would be necessary for BlackRock to not do what it is legally responsible to do in holding one for one assets. But the more the chart posted goes up and to the right, the more some kind of paper-corn type of scenario is likely to be playing out. I mean, while the price remains fairly stable.

I have not seen the exact language of their holding requirements, but I heard that they are not legally required to hold the exact asset, and they can hold various "equivalents," and still be covered.. So yeah, they could get themselves in some serious shit, if they are not holding the exact bitcoin, even though surely they are likely still able to hedge in various ways and even take billions of dollars in losses without even blinking.

Quote from: cAPSLOCK on July 09, 2025, 09:36:06 PM

And there's no doubt that not only black rock, but the powers that be at the Fed have the tremendous incentive to re-hypothecate the holdings somehow or another, and even possibly under the radar.

That is how they operate. Insiders have privileges that are not enjoyed by others, and sometimes they get themselves in trouble, and then are able to paper over it or bail themselves out or squash coverage.. so yeah, of course many injustices and robbing of various people happen under the radar, as you say..

Quote from: cAPSLOCK on July 09, 2025, 09:36:06 PM

And, arguably, the Bitcoin Treasury companies are kind of doing that by selling stock that represents Bitcoin. That's a more interesting game, though, because the Bitcoin does exist, in this case, for sure. Well, or does it?

Sometimes it does exist and sometimes it does not, and surely many of them are relying on custodians who may well be double or triple counting some of the coins. There is almost no way that Coinbase has all the coins it is supposed to be holding.

Quote from: cAPSLOCK on July 09, 2025, 09:36:06 PM

Further we go, the less universes I can see don't include some kind of massive avalanche ahead because of a lot of these houses of cards that are being built.

But I also tend to extreme conspiracy type ideas. Hopefully I'm just wrong. And we see Bitcoin rocket up and never come back down. LOL.

It seems to me that some of us were surprised that the BIG reveal about the lack of coins took place on the downside in 2022 rather than on the upside. There were a lot of them Terra / Luna, Celsius, Voyager, 3 Arrows Capital, Blockfi, Alameda/FTX, Genesis/GBTC and weren't there more? The price dropped by 2/3rds, so there might have had been thoughts that they could have had bought back the coins that they did not have, but the situation was more complicated than that.

Some of us can imagine scenarios in which the price keeps going up, but certain entities do not have the coins they claim to have and they cannot buy the coins since they don't have enough money... Sometimes a normal up and down in the price might not cause any showing who does not have the coins, but if the UP/DOWN is overly extreme, then the naked ones are revealed. Of course the clients will tend to suffer more than the insiders, but many end up suffering - but at least those of us holding our coins off of exchanges will still have our coins as long as we do not end up panic selling.

Quote from: Btcdeybodi on July 09, 2025, 09:58:38 PM

Quote from: OgNasty on July 09, 2025, 08:48:07 PM

~snip~
Do we run straight to $120K over the next several days or was that the big show? I think there is more up to be had.

From the liquidation data, weak hands have already liquidated about $360 million from the market in the past 4 hours which means that a pull back is expected though i don't believe what we saw today will be the big show, there is more to it Cool

https://www.coinglass.com/LiquidationData

Just because millions of shorts are liquidated, that does not indicate that liquidations are going to stop.

In bitcoin's history, we sometimes have runs that are 2x to 3x of their starting point, and shorters keep placing their shorts, but the price continues to go up.. So I doubt that the fact that a bunch of rich people (even important ones) got liquidated is enough for the liquidations to stop or even slow down.

Another thing about passing through ATH zones, sometimes the price does not return for months and months and months, and sometimes it never returns... So, we cannot necessarily expect something needs to happen, which frequently gets traders into trouble when they anticipate being able to buy back after they sell high portions of their holdings, and so they end up waiting, and waiting, and waiting and sometimes converting into some bitter twat because they missed out on 3x-5x or more further gainz that they could have had enjoyed.

You have a forum registration date of less than 2 years, so hopefully you are not screwing around with trying to trade rather than focusing on ongoing accumulation of dee cornz.

Quote from: philipma1957 on July 09, 2025, 10:28:10 PM

Quote from: Btcdeybodi on July 09, 2025, 09:58:38 PM

[edited out]

we may go over 120k this month or not.

but frankly I see 200k or more by dec 2025

How do you see it?

It comes like a vision in the middle of the night? And then such vision sticks until the next new vision comes?

Quote from: vapourminer on July 09, 2025, 11:51:19 PM

Quote from: philipma1957 on July 09, 2025, 11:40:21 PM

Quote from: vapourminer on July 09, 2025, 10:42:26 PM

Quote from: philipma1957 on July 09, 2025, 10:28:10 PM

but frankly I see 200k or more by dec 2025

sure youre not seeing double from all the shots?

1 shot of 114 proof old grand dad is not going to make me see double

unsure if thats a flex or not

i barely drink, maybe a shot or two a year (jack daniels). so a shot of 114 proof old grand dad is close to a years worth of alcohol for me

I was at a somewhat high end restaurant the other day, and the waiters were somewhat doting on us - maybe a bit excessively but still within reason. My companion had a couple of drinks, and I usually don't order any alcoholic drinks for myself... so then there was some point along the way after we had mostly already ate, and we had them pack the extra food up in a to-go container. They then came over and offered two free shots. I think it was because we had ordered several extra dishes that were pricey dishes, so they were feeling grateful for the cost of our dinner, and so one of the waiters kind of watched as I sipped at my "free" shot, and he said that I should chug it down. I said that I don't do it like that.. So I sipped it like a desert drink.

A little bit later, they brought over the bill, and they had some scribbling on the bill to show the amount they wanted paid (which was about 10% higher than the amount typed into the invoice), and I said that we were not paying that extra amount. I said we would pay the prices as they were reflected on the menu and not any of the extra charges. My companion got pretty nervous and had considered this unusual behavior from me, since I usually don't say very much about restaurant bills. Many times, I just glance over the bill, and if nothing unusual stands out, I pay it.

So in this unusual situation there were like two or three attempts to explain the bill, and I said that I wasn't going to pay anything beyond what had been listed in the menu. The waiter mentioned the free shots that we received, and I said that we could pay for those free shots if he was now wanting to charge us for them... So there was a bit of back and forth, and then at some point I figured out what they were doing, which was that they created a receipt that was something like 10% less than what the menu had stated but they still wanted us to pay the full amount, even though the receipt reflected something like 10% less.

After I figured out what they were doing, I said o.k. fine I would pay the amount that they had originally asked for, and so then the whole situation simmered back down and at the end of all of that, even though there was some tension still in the air, they brought us a second free shot after we had processed the payment... hahahahahaha