« In its current form, the Danish CSAM scanning proposal would force the likes of WhatsApp, Signal, ProtonMail, and other messaging services to perform indiscriminate scanning of private messages. Crucially, the mandatory scanning is expected to occur directly on the device before messages are encrypted, targeting shared URLs, pictures, and videos. Only governments and military accounts are excluded from the scope of the bill. » They want us to believe that the intent of the #ChatControl regulation is to fight the propagation of CSAM while granting an exemption to the politicians and the military? They are not even trying to be believable. https://www.techradar.com/vpn/vpn-privacy-security/a-major-step-backwards-for-privacy-the-vpn-industry-speaks-out-against-chat-control

This is scary indeed but what is the checkpoint through which this could be implemented? And is it realistic to think this could be enforced globally? Isn’t the infrastructure sufficiently decentralized to prevent such an outcome?

I guess I need to update my watchlist!

Interesting how #QRL is always pumping when #Bitcoin and the #crypto market crashes. I’m sure OGs selling has to do with them hedging their stack for the Q-Day. #Quantum

Yeah, I think Monero (and other undervalued cryptos) will manage to keep an uptrend while Bitcoin ranges but most cryptos will oscillate or downtrend.

Quick #Bitcoin price update: #BTC broke the $90,672 level which was the last line in the sand for the bull scenario to remain probable. With this level broken and even if we bounce from here, I give the bull path under 10% chance of playing out. The bear path likelihood is now at 80%. There probably won’t be much to update on the high time frame moving forward as I don’t see a strong alternative to a multi years sideway consolidation for now (unless we reach the grayed out box). If I keep on doing those updates, it will probably be to zoom in on the lower time frame. #Trading #Tradestr

Interesting. I had not caught up with this news. Theoretically, if a large portion of merchants accept BTC-to-BTC or fiat-to-BTC payments it should positive for the price but if they choose BTC-to-fiat then yes, it would create more sell pressure. I’m not sure how much impact on the price this integration may have had already.

I’m not saying that Bitcoin is done going up forever. Yes, over the long run it will continue to go up against fiat assuming that Bitcoin can upgrade to quantum safe cryptography in time. But as long as OGs are not done distributing in the current price range, the price will be capped whether or not more fiat are printed. How long will this phase last is anyone guess, but it could take longer than most expect. I think years rather than months. We shall see…

I can’t tell if you’re trolling or being serious here. Because of the exponential decay distribution of the BTC issuance the role of new issuance in this distribution phase is insignificant in comparison to the distribution of the already mined and strongly concentrated supply. I don’t know for sure what the future hold for the price of #Bitcoin and maybe the price discovery phase will continue but I’m afraid it won’t be until a large distribution phase has played out first. Fiat has all the problems we know about but it’s still the king medium-of-exchange. I take no joy in saying that but it’s just an obvious fact (ask anyone who’s not a Bitcoin maxi and you’ll see). The error of judgement that many have made about Bitcoin is to believe that not catching up as a medium-of-exchange against fiat would have no negative impact on the store-of-value property in the long run. We can now see that OGs being forced to sell #BTC for fiat rather than circulating their holding in the economy is the dynamic that is going to put a lid on the price appreciation for probably what will be an extended period of time. #Trading #Tradestr

In the early days, was #Bitcoin mostly talked as being electronic money or a reserve asset? I’m not sure what my statement is contradictory with what. I certainly could have made my point clearer though. 1) The Bitcoin supply is highly concentrated in the hands of a few partly due to its exponential decay distribution. 2) because of the lack of adoption as a medium-of-exchange, the best mean for OGs looking to cash out is to convert their #BTC for fiat which remains the best MoE. 3) this combination is likely to cap the price of Bitcoin for many years in what would be the biggest distribution phase ever seen by Bitcoin. Some have called for Bitcoin entering an IPO moment which is a fallacious analogy as Bitcoin has been accessible to retail since day 1. It’s actually a key difference with stock that goes through an IPO phase which distributes from insiders to retail. In the case of Bitcoin, the distribution phase goes the other way from retail to institutions. Distribution phase are not bullish no matter who distributes to who. #Trading #Tradestr

I’m afraid what is next for the price of #Bitcoin if #BTC doesn’t put on a V-reversal from here… #Trading #Tradestr