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Started By
Message
re: Bitcoin is dropping like a rock. Down to 99,200
Posted on 11/28/25 at 8:14 pm to beaverfever
Posted on 11/28/25 at 8:14 pm to beaverfever
quote:
The state of Texas announced their first buy today for $10M.
Huh? Spending tax dollars on crypto currency should be illegal.
3
Posted on 11/28/25 at 9:11 pm to SlidellCajun
I think the people should get to vote on that one. Btc isnt a flash in the pan
Posted on 11/28/25 at 9:35 pm to SlidellCajun
quote:It’s not and Texas is now acquiring bitcoin. Probably nothing though.
Huh? Spending tax dollars on crypto currency should be illegal.
Posted on 11/28/25 at 11:15 pm to SlidellCajun
quote:Spending tax dollars on a lot of things should be illegal before bitcoin, IMO.
Huh? Spending tax dollars on crypto currency should be illegal.
Posted on 11/29/25 at 10:56 am to SlidellCajun
quote:
quote:
Bitcoin is not an investment…..it is a gamble…..nothing more.
Of course
It’s nothing but a trade for me.
There’s some out there that disagree and as long as that continues and grows, the demand to own it continues and price should increase. It’s musical chairs. I’m just playing it as long as the music plays.
Agree. I am a conventional investor at heart, but not against an occasional trade to make money. I am not a crypto believer, but am not against making money from it. I also make money in real estate. I sell houses for prices that I would never pay. But I make money on them because others are willing to pay the price. Bitcoin and crypto are similar. I don't have to believe in crypto as a commodity to want to occasionally trade it.
Posted on 11/29/25 at 11:50 am to TigerTatorTots
quote:
Spending tax dollars on a lot of things should be illegal before bitcoin,
2 wrongs don’t make it right.
I wouldn’t even like my tax dollars spent on equities
Posted on 11/29/25 at 4:14 pm to beaverfever
quote:
It’s not and Texas is now acquiring bitcoin.
This one is headed for peak stupidity. They start a “reserve” with the stated objective being an initial $10mil investment in BTC to be used for systems testing, buildout, etc. for an alternative currency. Then they go and put the money in a Blackrock ETF. …doesn’t that undermine the entire premise?
Posted on 11/30/25 at 4:22 pm to lsuconnman
quote:
This one is headed for peak stupidity…doesn’t that undermine the entire premise?
Texas purchased shares in a spot Bitcoin ETF as a temporary measure while it develops its own infrastructure for direct self-custody of the digital asset. This initial investment allows the state to gain exposure to Bitcoin's price movements in a compliant, regulated format while finalizing its permanent storage solutions.
I'm not seeing the peak stupidity or the undermining of the entire premise in that.
Posted on 11/30/25 at 4:51 pm to David_DJS
The whole point of a strategic reserve or a treasury is to ensure you have access to some critical material during a period of uncertainty, not to gain exposure to price movement.
What happened to “not your keys not your coins?” I find it hard to believe TX would buy a gold or oil ETFs instead of physical possession. At minimum it seems like a tacit admission their risk management people want no part of the potential for lost/stolen coins.
What happened to “not your keys not your coins?” I find it hard to believe TX would buy a gold or oil ETFs instead of physical possession. At minimum it seems like a tacit admission their risk management people want no part of the potential for lost/stolen coins.
This post was edited on 11/30/25 at 4:52 pm
Posted on 11/30/25 at 5:05 pm to lsuconnman
quote:
What happened to “not your keys not your coins?” I find it hard to believe TX would buy a gold or oil ETFs instead of physical possession. At minimum it seems like a tacit admission their risk management people want no part of the potential for lost/stolen coins.
10:1 they contract custody out. Most organizations do.
Posted on 11/30/25 at 6:23 pm to lsuconnman
quote:Friction from government employees to do anything new? Quite a story you’re piecing together here.
At minimum it seems like a tacit admission their risk management people want no part of the potential for lost/stolen coins.
Posted on 11/30/25 at 8:27 pm to beaverfever
Why did Bitcoin drop 4% out of nowhere
Posted on 12/1/25 at 6:29 am to lsuconnman
If I was a texas taxpayer, I’d be pissed at even a small purchase of bitcoin.
Look at its move today. Down over 7% in a few hours!
Someone needs to be fired for that decision
Look at its move today. Down over 7% in a few hours!
Someone needs to be fired for that decision
This post was edited on 12/1/25 at 6:31 am
Posted on 12/1/25 at 6:35 am to Craft
Now down almost 5%!
Wish I knew the reason
Wish I knew the reason
Posted on 12/1/25 at 7:23 am to SlidellCajun
I am not sure this is a good reason.
This is typical bear behavior. 84-92k is the current “range” but the aggressive dip indicates some kind of algorithm sell off. It may have something to do with the yen unwind.
This is typical bear behavior. 84-92k is the current “range” but the aggressive dip indicates some kind of algorithm sell off. It may have something to do with the yen unwind.
Posted on 12/1/25 at 7:35 am to SlidellCajun
the whole stock market is down
Posted on 12/1/25 at 9:23 am to tigerbacon
quote:
the whole stock market is down
Posted on 12/1/25 at 10:52 am to KWL85
quote:
But I make money on them because others are willing to pay the price. Bitcoin and crypto are similar. I don't have to believe in crypto as a commodity to want to occasionally trade it.
Yeah.
At least you can live in a house though. With crypto, you’re essentially buying nothing
Posted on 12/1/25 at 2:17 pm to tigerbacon
quote:S&P is down 40 basis points right now.
he whole stock market is down
Plus, isn't bitcoin supposed to protect and shield us against the fake value of all these paper assets?
Posted on 12/1/25 at 2:49 pm to Big Scrub TX
quote:
Plus, isn't bitcoin supposed to protect and shield us against the fake value of all these paper assets?
Bitcoin is and always was a ponzi scheme to put your holdings on the public blockchain.
If you want crypto you're going to need a privacy based coin period end.
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