Adam Back, Blockstream CEO and co-founder, joins ‘Closing Bell Overtime’ to talk the downturn in Bitcoin, the state of the crypto space, and much more.
In oceans of code where the ledgers swell, Whales drift heavy, with fortunes to tell. They guard their troves in digital deep, A kingdom of coins they’re bound to keep.
Each block a tide, each trade a wave, Yet freedom eludes the rich and brave. For should they release their hoarded gold, The market would shiver, the story unfold.
Sell a fragment, the ripples grow, Sell it all, and the currents overthrow. Liquidity thins, the price may drown, The whale becomes prisoner of its crown.
So they linger silent, shadows vast, Anchored by wealth, yet chained to the past. In Bitcoin’s sea, a truth does dwell: Whales cannot buy escape, nor sell.
BItcoin is too big to fail. If it were to go to $0, it takes down 1000s of companies and brings the S&P sub 3,000, so most stock investors will be severely negatively impacted even if they hold no BTC. It will also call into question the vast majority of financial products on Wall Street, betting olatforms etc. so RH is done, BlackRock is at $30 and Goldman needs another bailout.
Honestly, the biggest lesson I've learned lately is to stay steady in crypto. The market moves too fast for emotions or predictions to matter. Most people panic in dips and chase hype in pumps, but keeping a clear strategy has helped me way more than guessing trends. I've been studying market structure through insights from Michele Braid., and it's made trading feel a lot more controlled even with all this volatility. If there's one thing I'd tell anyone right now, it's to focus on education and consistent strategy instead of waiting for some perfect moment, this market rewards preparation, not emotion.
Bitcoin will soon battle heavily with it's security issues (not enough fees to compensate declining block subsidies). For it to be secure long term, transaction fees will need to completely replace subsidy to miners. The past several years fees have barely accounted for 1% of miner revenue on average. This will become more and more apparent after each halving, and will be especially noticeable in bear markets.
As unprofitable miners shutdown, the remaining profitable ones will pick up the slack pushing the hashrate higher with fewer miners in control of the network. One option to pay for security of the network may be to remove the 21 million hard cap and pay miners with tail inflation or stop the halvings, which would decimate the Bitcoin narrative.
Look it up or talk to AI about it because no one will discuss this and most dismiss it as speculation. Even though what they are really speculating on is fee revenue increasing dramatically.
20 Comments
Supposed store of value that fluctuates wildly
31.5k bottom
Bitcoin = The Greater Fool Theory
Hard to believe people still think bitcoin is not a scam….. the rug will get pulled out at the right time so fast, you won't know what hit you
This guys is creepy, just a feeling !
Adam Back visited Epstein island – it's in the files.
Adam Back = Satoshi (we all know)
Bitcoin is so stupid.
Thats a original OG
🤑MIGA🤑
Israel (is real) ❌️
Notrael (not real) ✅️
🔻Repti🐍ian money🔻
CNBC is now giving airtime to Epstein guys?
Bitcoin is a scam…going to zero…
🪙
“The Whale’s Dilemma”
In oceans of code where the ledgers swell,
Whales drift heavy, with fortunes to tell.
They guard their troves in digital deep,
A kingdom of coins they’re bound to keep.
Each block a tide, each trade a wave,
Yet freedom eludes the rich and brave.
For should they release their hoarded gold,
The market would shiver, the story unfold.
Sell a fragment, the ripples grow,
Sell it all, and the currents overthrow.
Liquidity thins, the price may drown,
The whale becomes prisoner of its crown.
So they linger silent, shadows vast,
Anchored by wealth, yet chained to the past.
In Bitcoin’s sea, a truth does dwell:
Whales cannot buy escape, nor sell.
BItcoin is too big to fail. If it were to go to $0, it takes down 1000s of companies and brings the S&P sub 3,000, so most stock investors will be severely negatively impacted even if they hold no BTC. It will also call into question the vast majority of financial products on Wall Street, betting olatforms etc. so RH is done, BlackRock is at $30 and Goldman needs another bailout.
All these Crypto Bros trying to explain why it's tanking, but it's just babble trying to justify a made-up asset. All I say is burn Crypto, burn!! 🤣
bitcoin is going bye bye
Honestly, the biggest lesson I've learned lately is to stay steady in crypto. The market moves too fast for emotions or predictions to matter. Most people panic in dips and chase hype in pumps, but keeping a clear strategy has helped me way more than guessing trends. I've been studying market structure through insights from Michele Braid., and it's made trading feel a lot more controlled even with all this volatility. If there's one thing I'd tell anyone right now, it's to focus on education and consistent strategy instead of waiting for some perfect moment, this market rewards preparation, not emotion.
Bitcoin will soon battle heavily with it's security issues (not enough fees to compensate declining block subsidies). For it to be secure long term, transaction fees will need to completely replace subsidy to miners. The past several years fees have barely accounted for 1% of miner revenue on average. This will become more and more apparent after each halving, and will be especially noticeable in bear markets.
As unprofitable miners shutdown, the remaining profitable ones will pick up the slack pushing the hashrate higher with fewer miners in control of the network. One option to pay for security of the network may be to remove the 21 million hard cap and pay miners with tail inflation or stop the halvings, which would decimate the Bitcoin narrative.
Look it up or talk to AI about it because no one will discuss this and most dismiss it as speculation. Even though what they are really speculating on is fee revenue increasing dramatically.
Comments here from those who bought at $125 and sold last week.