atx crypto club



Anon Ymous

<09ed3757> Here&#8217;s data:

I was living in Houston when the price of coins were about 600$ apiece.

At the time, I was sitting on 10k Factom at .25 cents apiece.

I was also watching the countdown clock to see if demand would spike when the halving happened.

The alt coins spiked(factom went to 1$), and it wasn&#8217;t for another 3-6 months that bitcoin caught up and charged to 1400…. 2600… 6000…. 8000….9000…. 10,000, 16000, 20000
<09ed3757> Long story short, demand for bitcoin is correlated to demand/buy/sell pressure on alts as well because alts depend on bitcoin to have an actual price correlation
<09ed3757> Without bitcoin, altcoins would be the same price as pink sheet stocks offered off exchange by the guys in wolf of Wall Street
<09ed3757> As such, Bitcoin is the price peg for alts, and settlement later as well
<09ed3757> Alt coins use btc as their settlement layer into cash
<09ed3757> So demand is driven by alts needing the bitcoin chain to determine final price of their altcoin value
<09ed3757> Demand for btc is driven by alts needing a price peg and utility to settle into cash
<09ed3757> Everything else is money laundering lol (I jest, but hopefully you see my point)
<09ed3757> Context: I was broke and needed bitcoin to spike to make rent, and was very let down
<502edbb8> I agree with a whole lot of that, but it terms on the bitcoin havlings effect on the initial factom pop, I remain confused
<502edbb8> why come factom pop on halving
<502edbb8> heh, i can’t get enough of that movie. You guys ever see what the studios did to mike judge on that flick. They blacked out all support for the movie and tried to make it fail. it’s why its more of a cult hit. It had a terrible showing at box office. Anyway, I’m sorry to sidetrack convo
<09ed3757> Less coin supply in the market (stock) and less megabytes to handle the volume of coins (1/2 capacity flow)
<09ed3757> If bitcoin is indeed fungible
<09ed3757> That means instead of 25mb of settlement capacity, you now have 12.5mb of settlement capacity
<09ed3757> With a margin for coins on exchange vs. in cold storage
<09ed3757> And the HODL meme is stronk in the btc community
<09ed3757> No worries – it&#8217;s hilarious
<09ed3757> At the time it was 50mb to 25mb of settlement capacity
<09ed3757> So, the idea is that bitcoin internal demand (new vs. old coins) … I product a block for 12.5 coins, why wouldn&#8217;t I price the rest of my inventory at the 12.5 price, as opposed to the 25 price? Well, I make/have more money if I price at the 12.5 level
<09ed3757> Because it&#8217;s &#8220;harder&#8221; (more costly) for me to settle tx at the 12.5 level even if my hashpower stays the same… more hashes per block reward

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