Today in Bitcoin History / @daily_btc_lore:
July 1, 2014 (12 years ago)
Newegg Becomes the First Major Electronics Retailer to Accept Bitcoin
Newegg had been the hardware store of Bitcoin's GPU mining era. Now the people who built those early rigs could spend the Bitcoin they mined there. Brief thread... 🧵👇
July 1, 2014 (12 years ago)
Newegg Becomes the First Major Electronics Retailer to Accept Bitcoin
Newegg had been the hardware store of Bitcoin's GPU mining era. Now the people who built those early rigs could spend the Bitcoin they mined there. Brief thread... 🧵👇
Today in Bitcoin History / @daily_btc_lore:
R to @daily_btc_lore: 2/6 - 2014 was the year major retailers started moving. Overstock accepted Bitcoin in January. TigerDirect followed in February. By July, Newegg, the internet's premier destination for PC hardware and electronics, made it three major tech retailers in six months.
R to @daily_btc_lore: 2/6 - 2014 was the year major retailers started moving. Overstock accepted Bitcoin in January. TigerDirect followed in February. By July, Newegg, the internet's premier destination for PC hardware and electronics, made it three major tech retailers in six months.
Today in Bitcoin History / @daily_btc_lore:
R to @daily_btc_lore: 3/6 - The push came from below. Newegg customers had been requesting Bitcoin payments on the company's Facebook and Twitter for months. For builders and engineers who had watched the GPU mining era from the front row, Bitcoin wasn't a novelty. It was a natural request.
R to @daily_btc_lore: 3/6 - The push came from below. Newegg customers had been requesting Bitcoin payments on the company's Facebook and Twitter for months. For builders and engineers who had watched the GPU mining era from the front row, Bitcoin wasn't a novelty. It was a natural request.
Today in Bitcoin History / @daily_btc_lore:
R to @daily_btc_lore: 4/6 - The partnership was with @BitPay, then processing payments for 35,000+ merchants and fresh off a $32 million raise, the largest in Bitcoin company history at the time. Newegg held zero BTC on its books. BitPay converted every payment to dollars in real time.
R to @daily_btc_lore: 4/6 - The partnership was with @BitPay, then processing payments for 35,000+ merchants and fresh off a $32 million raise, the largest in Bitcoin company history at the time. Newegg held zero BTC on its books. BitPay converted every payment to dollars in real time.
Today in Bitcoin History / @daily_btc_lore:
R to @daily_btc_lore: 5/6 - This detail mattered: every "retailer accepts Bitcoin" headline of 2014 was really "retailer now has a BitPay checkout button." The merchant bore no price exposure. The actual Bitcoin stayed entirely within BitPay's infrastructure until it became dollars.
R to @daily_btc_lore: 5/6 - This detail mattered: every "retailer accepts Bitcoin" headline of 2014 was really "retailer now has a BitPay checkout button." The merchant bore no price exposure. The actual Bitcoin stayed entirely within BitPay's infrastructure until it became dollars.
Titan / @Washigorira:
#Bitcoin Monthly Ichimoku death cross confirmed.
Last time this happened, Bitcoin dropped another 22% before bottoming.
History doesn’t always repeat, but I don’t expect this cycle to bottom below $44K.
The monthly Kumo and the projected flat Kijun 🔵 are aligning in the same region, forming a strong macro support area.
#Bitcoin Monthly Ichimoku death cross confirmed.
Last time this happened, Bitcoin dropped another 22% before bottoming.
History doesn’t always repeat, but I don’t expect this cycle to bottom below $44K.
The monthly Kumo and the projected flat Kijun 🔵 are aligning in the same region, forming a strong macro support area.
Darkfost / @Darkfost_Coc:
RT by @Darkfost_Coc: Bitcoin likely has another parabolic cycle ahead.
Yes, capital efficiency is declining. In 2011, just $2.7B in net capital inflows drove a 55,436% price increase. This cycle, $697B produced a +689% return.
The next parabolic bull cycle likely requires deeper institutional allocation. Bitcoin needs to be a core macro asset, not just a retail-driven ETF trade.
That shift is still early, not invalidated.
If Bitcoin can absorb $1T+ in realized cap, another parabolic bull ...
RT by @Darkfost_Coc: Bitcoin likely has another parabolic cycle ahead.
Yes, capital efficiency is declining. In 2011, just $2.7B in net capital inflows drove a 55,436% price increase. This cycle, $697B produced a +689% return.
The next parabolic bull cycle likely requires deeper institutional allocation. Bitcoin needs to be a core macro asset, not just a retail-driven ETF trade.
That shift is still early, not invalidated.
If Bitcoin can absorb $1T+ in realized cap, another parabolic bull ...
Darkfost / @Darkfost_Coc:
🟢 Bitcoin’s net supply ratio just flashed a buy signal
I’m seeing more and more indicators reaching extreme values, suggesting that the BTC market is entering a genuine devaluation phase.
UTXO analysis, represented here by a net supply ratio, reveals that we’re entering a phase where accumulation becomes relevant.
— 💡UTXOs (Unspent Transaction Outputs) are a mechanism specific to Bitcoin that ensures a BTC has only been spent once.
These UTXOs therefore contain information (price, dates, ...
🟢 Bitcoin’s net supply ratio just flashed a buy signal
I’m seeing more and more indicators reaching extreme values, suggesting that the BTC market is entering a genuine devaluation phase.
UTXO analysis, represented here by a net supply ratio, reveals that we’re entering a phase where accumulation becomes relevant.
— 💡UTXOs (Unspent Transaction Outputs) are a mechanism specific to Bitcoin that ensures a BTC has only been spent once.
These UTXOs therefore contain information (price, dates, ...