Crypto News
Ferrari Starts Accepting Crypto Payments for Luxury Sports Cars
Crypto News
Great Scott! If Only We Could Go Back to 2009 to Buy Bitcoin!
It’s 2024. Donald Trump has just clinched the election again, Bitcoin’s hit a new all-time high, inflation’s running hotter than the DeLorean’s flux capacitor, and everyone’s wondering, “What’s next?” As we all wrestle with the wild pace of history, there’s a flash in the sky, a crackle of lightning, and who should appear but Doc Brown himself. He hops out of the DeLorean, eyes wild and hair wilder, and says, “Forget sports almanacs, Marty! We’re going back – not to 1985, but to 2009, before anyone knew what a Bitcoin even was!”
Yes, we’d all love to jump into that time machine and zip back to January 3, 2009 – the day Bitcoin’s genesis block was mined. Get it cheap, stockpile our wallets, and maybe even tuck a few under the couch cushions. But here’s the catch: Bitcoin doesn’t work that way. Its greatest strength? “Everyone gets the price they deserve.” No one gets a free ride, and Bitcoin doesn’t have a rewind button – only a road forward.
Doc Brown was onto something when he said, “Roads? Where we’re going, we don’t need roads!” The path Bitcoin forges isn’t one of shortcuts or regrets. It’s a one-way journey to the future, with a price tag that keeps moving forward. It doesn’t care if we wish we’d started at $1 or $100 – it’s relentless, and that’s the point.
Today, people freeze at the current price, haunted by unit bias, plagued by a “missed opportunity” that exists only in hindsight. But Bitcoin’s value doesn’t lie in a magical price point of the past; it lies in the present – in its steady march into the future. And standing on the sidelines, waiting for some impossible dip or trying to summon 2009 prices, is like being Biff: always scheming, always missing the point.
If Marty learned anything, it’s that you can’t stand on the fence and hope things will work out. Biff, forever clueless and out of touch, is the perfect example of what happens when you miss the future staring you in the face. Imagine Biff in 2009 – he’d be mocking Bitcoin, laughing it off, and then spending decades regretting every lost satoshi. Don’t be a Biff. Don’t let hindsight or wishful thinking stop you from joining the future.
We all wish we’d snagged Bitcoin at the price of a coffee, but that DeLorean opportunity is long gone. Doc Brown would tell us the same thing he told Marty: “The future is what you make of it, so make it a good one.”
So, next time you’re looking at Bitcoin’s price today, heart pounding like you’re about to hit 88 mph, remember: there’s no going back to 2009. There’s just the next block, the next satoshi, and the next step forward. Where Bitcoin’s going, we don’t need time travel – we just need the courage to act. And like Doc would say, when it comes to Bitcoin, where we’re going, we don’t need regrets.
This article is a Take. Opinions expressed are entirely the author’s and do not necessarily reflect those of BTC Inc or Bitcoin Magazine.
As we barrel through 2024, the dream of hopping in a DeLorean and rewinding to 2009 to buy Bitcoin at pennies per coin tempts us all.
Crypto News
Bitcoin Businesses Feel Safe In The U.S. In Wake Of Trump Victory
This morning MARA, the largest publicly-traded Bitcoin mining company, shared that it will be rolling out three new data centers in the U.S.
Would it have made such an announcement had Harris won the election? Probably. (It’s not like they whisked up these data centers overnight.)
But would they have made the announcement with such gusto, highlighting the fact that the bitcoin the company mines will be “Made In USA”? Probably not.
American compute power is accelerating. Today, we’re announcing:
-Three new data centers.
-Owned and operated in Ohio.
-372 megawatts of capacity.#Bitcoin – Made in USA. pic.twitter.com/ltDbhKrCHJ— MARA (@MARAHoldings) November 11, 2024
The “Made In USA” line is likely a nod to President-elect Donald Trump, who’s said he wants all future bitcoin mined in the United States.
Since Trump won the election, the stocks for bitcoin mining companies across the board have skyrocketed, with CleanSpark (CLSK) even being halted due to such breakneck upward price action, indicating that not only miners but also investors believe that Bitcoin mining is welcome in the U.S. and that the industry will thrive as a result.
And it isn’t only Bitcoin miners who feel that Bitcoin companies are safe to operate in the U.S. Alex Leishman, CEO and CTO of Bitcoin exchange River, also believes that the Trump administration will be kind to Bitcoin businesses (and Bitcoin holders).
Major risks to Bitcoin have been removed or made substantially less likely this year:
– Federal Ban / Chokepoint (with Trump this is much less likely)
– Gox coins dumping (coins have already been distributed)
– Self custody ban (less likely with Trump)— Alexander Leishman 🇺🇸 (@Leishman) November 11, 2024
In this tweet, Leishman seemingly refers to the promise Trump made in his keynote speech at Bitcoin 2024 to protect the right to self-custody and to stop the Federal bureaucracy from unlawfully cracking down on the Bitcoin and crypto industry.
Will Trump follow through on all of his promises? Hard to tell.
It seems likely that he will, though, as money talks and the Bitcoin/crypto lobby raised millions for Trump’s campaign.
For now, though, optimism abounds, which is refreshing after four years of the Biden administration, which made Bitcoin and crypto companies feel uneasy about their status in the U.S.
The Bitcoin industry breathes a collective exhale as Trump’s Bitcoin-related rhetoric and policy proposals should be a boon for the industry.
Crypto News
The Race Is On To Frontrun The U.S. Government
With the 2024 election all but final, it’s clear Donald Trump, the soon-to-be 47th President of the United States, will be the most pro-Bitcoin leader in U.S. history
The big question remains, however: How effective will he be in operationalizing his strategy?
At Bitcoin 2024, Trump – as well as Robert F. Kennedy Jr. and Republican Senator Cynthia Lummis – made clear that they want the United States government to buy Bitcoin. All would seem to be in a better position to enact this following the election, as the Republican Party increased its representation in government considerably.
Yet, as for how quickly the U.S. could become active in the market, that’s more murky. Since announcing the bill, Bitcoin has surged from $60,000 to a high of $86,000, and with the U.S. government soon to be buying, there’s even more incentive for the price to escalate.
Herein lies the problem: The United States has essentially telegraphed to the world that it intends to buy an asset that’s in scarce supply, without the concrete ability to do so.
Even with a majority in the House of Representatives and Senate, passing the Strategic Bitcoin Reserve Legislation 2024 will still require an act of Congress, and the agreement of lawmakers. It would seem foolish to expect this won’t be complex or time-consuming.
For example, the bill proposes revaluing the Federal Reserve’s gold holdings, as well as integrating Bitcoin into government financial systems. Questions will likely abound, as will operational challenges. Let’s remember it took all of three years for SEC Staff Bulletins to be adjusted just to value Michael Saylor’s public markets Bitcoin buying spree correctly.
This is the nature of government — slow and bureaucratic. Even with Trump, RFK, and other Bitcoin backers in positions of power, the chances that the U.S. government begins to acquire Bitcoin on January 20, 2025 seem infinitesimal. This is not saying that it won’t happen at all, just that it won’t be timely.
This is even to omit that there could be a prioritization challenge. Maybe the crypto lobby wants to move quickly on the long delayed market infrastructure bill. If so, Congress could become more consumed with the guardrails for exchanges, and redefining securities laws than the question of the strategic reserve. After all, they helped bankroll Trump’s win.
How much could Bitcoin rise in the meantime? With the bull market in full force, I’d argue that institutions and governments have every reason to become active in the market. There are many regimes around the world where the executive branch has enough power to begin accumulating Bitcoin today. They’d be foolish not to frontrun the U.S. government.
El Salvador started this process in 2021, and it has amassed over 5,900 Bitcoin. Yet, it faced 2-3 years of market headwinds, as traders countered its entries. Lest we forget El Salvador bought hundreds of Bitcoin at $60,000, a move that for years was fuel for its enemies.
Trump may yet do his part to boost Bitcoin. Yet, in telegraphing his intentions, he’s almost certainly created conditions that can be exploited by savvy traders.
Time will tell them if, among them, we’ll see other nation states.
Today, I received confirmation that another nation state is currently discussing
– a Bitcoin strategic reserve
– drafting Bitcoin mining regulations so they can improve their electrical grid and better monetize stranded energyIt’s happening
— Daniel Batten (@DSBatten) November 11, 2024
The US wants to buy bitcoin. Will other countries do it first?
-
Awakening Video1 year ago
This is What Happens When You Try to Report Dirty Cops
-
Substacks8 months ago
THE IRON-CLAD PIÑATA Seymour Hersh
-
Substacks1 year ago
The Russell Brand Rorschach Test Kathleen Stock
-
Substacks1 year ago
Letter to the Children of Gaza – Read by Eunice Wong Chris Hedges
-
Substacks1 year ago
A real fact-check of Trump’s appearance on Meet the Press Judd Legum