mleku™️ @mleku - 12d
runes and ordinals are not ponzis, they are buy 5 cent for 10 cent scams you can see the dwindling supply of suckers in the steadily declining fee rates on chain the scam this time was that they are making some kind of "new token" on bitcoin that is "better than BRC20" i wonder how well BRC20s sell these days already, compared to the hype ATH period when they were pushing them probably shit, just like every shitcoin price curve, big pump in the beginning, and then eventually goes to zero it's amazing how many people there are out there who are still stupid enough to fall for these... what's irritating for us bitcoiners is that they are taking a piss in our pool to grift these suckers, instead of peeing in vitalik's centralised pool i wonder why? has the shine of ETH tokens moved on that much already?
the good part is that we know if the suckers are getting wise to ETH then they will eventually get wise to BTC scams as well... this has been going on for a bit over a year now, so i think maybe next year will not be so bad they are definitely keeping the price down, the sheer volume of fees they are paying for this nonsense is coming from buys but obviously the miners are still selling
and that's the part that is crappy... the miners are almost certainly behind this shit, i can't see any reasonable logic behind any other group promoting this shitcoinery and if they are doing this to keep their boats from sinking then it means that someone else bigger is shorting bitcoin and keeping it from finding its level... i am still to wrap my head around how one does that exactly... this line of questioning naturally leads back to the likes of CZ and Justin Sun et al.
Laeserin @Laeserin - 12d
I guess you short Bitcoin by purchasing fiat or reducing fiat supply, which is what the Central Banks have been doing.
but that should be lowering energy prices as well
It has. That's why we're heading to disinflation. The falling wholesale prices just haven't trickled down, yet, as consumers tend to have long-term contracts. My electricity contract runs out this month and they lowered our rate and gave us over €800 back.
over where you are they kept on decommissioning generators as well and even still look at this they are gonna panic with disinflation because they can't make money on loans when people's money increases in value, then it'll be another leg up for bitcoin, gold, silver, coal, oil
I think we have to be careful to always focus on purchasing power, rather than nominal price. I think commodities (of which Bitcoin is the only digital one) might follow everything down in nominal price, as money tightens, but retain its relative purchasing power. And I think that'll force them to lower rates, to repay the debts. They're in an interest rate trap.
>>Reuters calculations show Russia's projected April oil and gas revenue at 1.292 trillion roubles ($14 billion), up from 648 billion roubles in April 2023<< Love how they leave the price in dollars out of the comparison data, even though the Ruble collapsed in that time. 🤦♀️ Got all the way above 100. REVENUES IN RUBLES DOUBLED!! (while ruble got cut in half)
Probably just sloppy journalism. Seems to just be a translation of a Russian government press release.
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