It is winter here and there is not a lot of incentive to get out of bed when I am not at work. Then it is a 3:30 am start.
At home like to start the Daily Crypto Grind in the warm comfort of the bed.
This morning was greeted by 2 notifications. Firstly in bed when I reached over to grab the iPad, was a notification from Bitcoin Ticker.
The Bitcoin Ticker alerts are set at $2500 AUD increments every time the price on Coinspot drops below. At the moment the max is set at $175,000 AUD, which also just happens to be the ATH Down Under.
Checked Coingecko, collected crypto from the faucets, initiated a LocalCoinSwap trade and called into Publish0x to visit some old friends.
Good News: the AUD/USD exchange rate is up from $1.54 to $1.55 AUD for every USDT we sell. Thats more of our local currency for us, which is good.
When I finally got out of bed and looked at the phone there was a second notification from The Bitcoin Office @bitcoinofficesv.
Note: Only have Twitter on the phone, helps limits my time spent there. Very easy to get lost, waste a lot of time and often end up feeling angry, frustrated or despondent. It can be such a negative place. Twitter is another place that it is best to treat like a public toilet, get in do your business and get out.
El Salvador has been "buying the dip" every day since November 17, 2022. In a November 16, 2022 tweet President Nayib Bukele announced the El Salavador would start purchasing one Bitcoin every day from November 17.
Note: El Salvador had not bought Bitcoin since July 2022, when they purchased 80 Bitcoin at $19,000 per coin.
And of course Justin Tron (Sun) never misses an opportunity to grab a headline and promote Justin. Shortly after President Nayib Bukele's announcement Justin also announced "We echo Nayib Bukele's initiative in buying Bitcoin daily. We will also buy one bitcoin every day starting tomorrow!".
Bought The Dip - The Meme
"Buying the Dip" is a popular crypto meme.
some are funnier than others.
the @bitcoinofficesv tweet is a tongue in cheek play on the meme, as they are actually DCAing daily. But with DCAing you get to buy the dip about half the time and today was one of those days
Or another way to look at it is, todays price in the multi cycle bull trend will eventually become the "dip" from a future price.
The Crypto Media Hype Train
With so much crypto news coverage regarding
- Strategy
- Blackrock buying up all the Bitcoin
- ETF inflows
- Johnny Be Lately nation states creating their own Bitcoin Reserves
- Corporates announcing adding Bitcoin to their balance sheets
- the tidal wave of institutional money
- $1 million Bitcoin predictions
it is easy to get caught up in the hype train. Some times one needs a dose of reality to put all that noise into some sort of perspective.
This infographic show MSTR purchases have been on a down trend since the Alt Season came to an abrupt end at Christmas.
or the common misconception that Blackrock the Company is actually buying all the Bitcoin ( BlackRock Strengthens Bitcoin Strategy: $1.1 Billion in Purchases Over 7 Days )
$639 million sounds a lot to the average crypto bro ( BlackRock Is Buying Up All the Bitcoin—Will There Be Any Left? )
or put another way ( Why Isn't BTC Price Going Up While Flows to Bitcoin ETFs Continues? )
or that the Grayscale Bitcoin Investment Trust had 619,187 BTC AUM prior to transferring it to their ETF. In comparison Blackrock's IBIT now has 683,017 BTC under management and Grayscale's GBTC now has a reduced 185,402 BTC under management. Thats 433,785 institutional BTC that already existed prior to the New 9 ETF's going live and became freely trade-able
or following Grayscale's controversial launch of their famous 2020 BTC TV ad, Grayscale Investment was adding to their BTC Investment Trust at a faster rate than the miners could produce. And there has been another halving since then. ( Grayscale Launch Ad Campaign to Bring Crytpo to the Masses )
And don't forget that El Salvador has been DCAing every day for 31 months
building their stack one BTC at a time
In case you have missed it, the Institutional tsunami of adoption and money has been coming for a few years now. Since at least 2019 when Mark Helfman published his short book (only 96 pages). Worth a read.
The sun is finally come out and I need to get some much needed beach time.
Support Your Local Paranoid Psychopathic Crypto Anarchist's Grandson Stacking Sats
Tip, like, follow and use the referral links below, as all the crypto dust goes to supporting and helping our 6 year old Grandson become a future OG.
Click on the images or if you prefer the corresponding URL link.
Bitcoin (BTC)
FreeBitco.in has the title of Longest Running BTC Faucet (since 2013). Earn sats, Reward Points and Lottery Tickets every hour with the longest running Bitcoin faucet.
Use the reward points for 1000% 500% 100% and 50% BTC Bonuses, Wheel of Fortune tickets or more Lottery Tickets. Get daily compound interest on BTC deposits, over 30,000 sats.
Currently paying 2 sats every hour and 4 Reward Points per roll or with the 1000% BTC Bonus 22 sats for a day. It has paid briefly 3 sats in the deep dips
The Grandson has already withdrawn 150,000 sats, so we have to start all over and the new balance is 19,500 sats.
You also have the option of purchasing their native FUN. But have not explored their FUN tokens, as we draw the line at paying for free stuff.
https://freebitco.in/?r=51015545&tag=pb0x
Earn coins from hourly faucet roll, games, surveys, watch PTC ads, multipliers, earn interest etc.
Minimum withdrawal 50,000 coins direct to your Bitcoin wallet ($5 BTC), no withdrawal fees. Or redeem coins direct to your DOGE, DASH or LTC wallets (minimum $3).
Can use PTC ads and surveys to get a payout within a week or quicker.
12 BTC payouts so far to FreeBitco.in, but currently withdrawing LTC to MexC to add to Grandson’s USDT stash. Getting ready for the Crypto Winter.
Solana (SOL)
As Solana made up 20% of the Grandsons portfolio, getting free SOL was of great interest.
This is more of a community notice for the like minded SOL collectors. As it is run by the devs, there is no referral program.
Been using solfaucet regularly for over a couple years. Earn 0.00001 SOL per day, regardless of SOL value at the time. The SOL is instantly paid to your Solana address. Note the earnings get paid out monthly but show up in your wallet as individual transactions.
There is a catch. All new addresses must maintain the minimum rent-exempt balance of 0.00089088 SOL to be able to claim from the faucet.
The faucet is supported in part by the Shinobi Systems validator.
https://solfaucet.togatech.org/
You get 2x Bonus rewards and 10 free rolls for the 1st 24 hours on registering. Minimum withdrawal is 0.00250000 SOL and transaction fee is 0.000100000 SOL.
Also has Surveys, Games and Contests to earn more. Minimum faucet roll is 0.000001000 SOL at Stone Level, playing games/surveys will help you reach higher levels.
Master Level pays 0.010000000 SOL per roll.
Had 2 payouts so far.
https://solpick.io/?ref=VEH2024
