Satlantis on Nostr: 2024 is almost over! And what a year it has been! ๐ Until we look back, it's easy ...
2024 is almost over! And what a year it has been! ๐
Until we look back, it's easy to forget just how far we've come in so short a time.
Here are the 5 most pivotal events in the Bitcoin space during 2024, and how they changed Bitcoin's future forever: ๐
1๏ธโฃ On ๐ญ๐ญ ๐๐ฎ๐ป๐๐ฎ๐ฟ๐, the first U.S. Bitcoin Exchange-Traded Funds (ETFs) were approved
For the first time, mainstream investors could add Bitcoin to their portfolios through the same platforms they use for stocks and bonds. No wallets, private keys, or exchangesโ๐ซ๐ถ๐ด๐ต ๐ค๐ญ๐ช๐ค๐ฌ ๐ข๐ฏ๐ฅ ๐ฃ๐ถ๐บ. ๐ฑ๏ธ
Sure, this isnโt the sovereign individual approach to stacking sats, but everyone has to start somewhere, right?
The result has been a tidal wave of institutional demand, and more FOMO from retail buyers. ๐
But the most important part isn't the price; it's the fall of the next domino on Bitcoin's path to global adoption.
2๏ธโฃ On ๐ญ๐ต ๐๐ฝ๐ฟ๐ถ๐น, Bitcoin's block subsidy halved from ๐ฒ. ๐ฎ๐ฑ to ๐ฏ. ๐ญ๐ฎ๐ฑ
This means that the rate of new bitcoin mined with each block was ๐ค๐ถ๐ต ๐ช๐ฏ ๐ฉ๐ข๐ญ๐ง. So instead of about 900 new bitcoin being mined each day, ๐ผ๐ป๐น๐ ๐ฎ๐ฏ๐ผ๐๐ ๐ฐ๐ฑ๐ฌ ๐ฎ๐ฟ๐ฒ ๐ป๐ผ๐ ๐บ๐ถ๐ป๐ฒ๐ฑ.
Starting at block 840,000, the stock-to-flow ratioโor the ratio of new bitcoin compared to already-existent bitcoinโbecame roughly twice that of gold, ๐ผ๐ณ๐ณ๐ถ๐ฐ๐ถ๐ฎ๐น๐น๐ ๐บ๐ฎ๐ธ๐ถ๐ป๐ด ๐ฏ๐ถ๐๐ฐ๐ผ๐ถ๐ป ๐๐ต๐ฒ ๐๐ฐ๐ฎ๐ฟ๐ฐ๐ฒ๐๐ ๐บ๐ผ๐ป๐ฒ๐ ๐๐ซ๐๐ง! ๐คฏ
These halvings, which happen every 210,000 blocksโor roughly every 4 yearsโis how Bitcoinโs supply cap is enforced, and is one of the primary causes of Bitcoinโs 4-year bull/bear cycle.
๐ง๐ต๐ฒ๐ฟ๐ฒ ๐๐ถ๐น๐น ๐ผ๐ป๐น๐ ๐ฒ๐๐ฒ๐ฟ ๐ฏ๐ฒ ๐ฏ๐ฏ ๐๐ถ๐๐ฐ๐ผ๐ถ๐ป ๐ต๐ฎ๐น๐๐ถ๐ป๐ด๐, and 4 have already come and gone. Each one marks a turning point in Bitcoin's history, when the worldโs hardest money hardens even more, and further secures our civilization against an uncertain future.
3๏ธโฃ On ๐ฎ๐ณ ๐๐๐น๐, Donald Trump gave a keynote speech at thebitcoinconf (npub1rwhโฆ7avv) in Nashville, TN.
This was the first time a former presidentโwho later became President-electโspoke at a Bitcoin conference...๐ฃ๐ถ๐ต ๐ช๐ต ๐ธ๐ฐ๐ฏโ๐ต ๐ฃ๐ฆ ๐ต๐ฉ๐ฆ ๐ญ๐ข๐ด๐ต!
Donald Trump declared that he will:
๐ #FreeRoss from prison on day 1
โก Make the U.S. the global hub for Bitcoin mining
๐ Fire Gary Genslerโwhich, to Trump's surprise, was met with an ๐ฆ๐ณ๐ถ๐ฑ๐ต๐ช๐ฐ๐ฏ of cheers
Donald Trump is still falling down the Bitcoin rabbit hole, so there's still much for him to learn, but the progress heโs making is very promising!
Whether you agree with his politics or not, his support of Bitcoin solidified its role on the national and global stage. ๐
https://youtu.be/9UxAUryUKXM
4๏ธโฃ On ๐ฑ ๐๐ฒ๐ฐ๐ฒ๐บ๐ฏ๐ฒ๐ฟ, Bitcoin broke $100K for the first time ๐
After years of waiting, it finally happened. Many Bitcoiners had vowed to keep โlaser ray โtil 100Kโ on their social media avatars, but now, with that milestone reached, many adopted a new mantra: ๐๐ข๐ด๐ฆ๐ณ ๐ฆ๐บ๐ฆ๐ด โ๐ต๐ช๐ญ ๐ง๐ช๐ข๐ต ๐ฅ๐ช๐ฆ๐ด!
๐ช๐ต๐ฎ๐ ๐ฐ๐ฎ๐๐๐ฒ๐ฑ ๐๐ต๐ฒ ๐๐๐ฑ๐ฑ๐ฒ๐ป ๐๐๐ฟ๐ด๐ฒ ๐๐ผ $๐ญ๐ฌ๐ฌ๐?
Perhaps it was a combination of Donald Trumpโs victory a month prior, the ETFs that were more successful than ๐ข๐ฏ๐บ other before them, and of course, Bitcoinโs absolutely limited supply.
Or maybe it's just because Bitcoin is an idea whose time has come.
For OG hodlers, 100K was more than a nice round number; it represented vindication after years of FUD and criticism, and it caught the attention of many former naysayers. ๐
The FOMO itโs already causing is an important step toward the next bull run, ๐ธ๐ฉ๐ช๐ค๐ฉ ๐ช๐ด ๐ซ๐ถ๐ด๐ต ๐จ๐ฆ๐ต๐ต๐ช๐ฏ๐จ ๐ด๐ต๐ข๐ณ๐ต๐ฆ๐ฅ. ๐
5๏ธโฃ On ๐ญ๐ด ๐๐ฒ๐ฐ๐ฒ๐บ๐ฏ๐ฒ๐ฟ, El Salvador agreed to the IMF's terms to receive $1.4 billion in aid from them.
The catch? ๐๐ฉ๐ฆ๐บ ๐ฉ๐ข๐ฅ ๐ต๐ฐ ๐ค๐ฉ๐ข๐ฏ๐จ๐ฆ ๐ต๐ฉ๐ฆ๐ช๐ณ ๐ญ๐ข๐ธ ๐ต๐ฐ ๐ฎ๐ข๐ฌ๐ฆ ๐ฃ๐ช๐ต๐ค๐ฐ๐ช๐ฏ ๐ข๐ค๐ค๐ฆ๐ฑ๐ต๐ข๐ฏ๐ค๐ฆ ๐ท๐ฐ๐ญ๐ถ๐ฏ๐ต๐ข๐ณ๐บ ๐ง๐ฐ๐ณ ๐ฃ๐ถ๐ด๐ช๐ฏ๐ฆ๐ด๐ด๐ฆ๐ด. ๐ฎ
It had been compulsory for merchants to accept bitcoin, but this was rarely enforced, so removing it seemed like an acceptable tradeoff for President Bukele.
Since 17 November 2022, El Salvador had been buying 1 bitcoin each day, regardless of the price. But on the 19 December of this year, and again on the 21st, President Bukele used the funds from the IMF to buy ๐ญ๐ญ ๐บ๐ผ๐ฟ๐ฒ bitcoin! ๐คฏ
What would ๐บ๐ฐ๐ถ do if you suddenly received a large sum of fiat?
Hopefully, youโd buy bitcoin. ๐
๐ฎ๐ฌ๐ฎ๐ฐ ๐๐ฎ๐ ๐ฎ๐ป ๐ถ๐ป๐ฐ๐ฟ๐ฒ๐ฑ๐ถ๐ฏ๐น๐ฒ ๐๐ฒ๐ฎ๐ฟ ๐ณ๐ผ๐ฟ ๐๐ถ๐๐ฐ๐ผ๐ถ๐ป! ๐
History will doubtlessly record it as the year when nation-states entered the sat-stacking race, and adoption began to change from "๐จ๐ณ๐ข๐ฅ๐ถ๐ข๐ญ๐ญ๐บ" to "๐ด๐ถ๐ฅ๐ฅ๐ฆ๐ฏ๐ญ๐บ" (H/T Parker Lewis (npub1w69โฆzltw) ).
Remember to ๐๐ถ๐ธ๐ฒ, ๐ฆ๐ต๐ฎ๐ฟ๐ฒ, and ๐๐ผ๐ผ๐ธ๐บ๐ฎ๐ฟ๐ธ this note, so you can look back on this next year, and see how far we will have come by then!
What were some of the highlights in the Bitcoin space for you this past year? What are your predictions for 2025? Let us know in the ๐ฐ๐ผ๐บ๐บ๐ฒ๐ป๐๐! ๐
Until we look back, it's easy to forget just how far we've come in so short a time.
Here are the 5 most pivotal events in the Bitcoin space during 2024, and how they changed Bitcoin's future forever: ๐
1๏ธโฃ On ๐ญ๐ญ ๐๐ฎ๐ป๐๐ฎ๐ฟ๐, the first U.S. Bitcoin Exchange-Traded Funds (ETFs) were approved
For the first time, mainstream investors could add Bitcoin to their portfolios through the same platforms they use for stocks and bonds. No wallets, private keys, or exchangesโ๐ซ๐ถ๐ด๐ต ๐ค๐ญ๐ช๐ค๐ฌ ๐ข๐ฏ๐ฅ ๐ฃ๐ถ๐บ. ๐ฑ๏ธ
Sure, this isnโt the sovereign individual approach to stacking sats, but everyone has to start somewhere, right?
The result has been a tidal wave of institutional demand, and more FOMO from retail buyers. ๐
But the most important part isn't the price; it's the fall of the next domino on Bitcoin's path to global adoption.
2๏ธโฃ On ๐ญ๐ต ๐๐ฝ๐ฟ๐ถ๐น, Bitcoin's block subsidy halved from ๐ฒ. ๐ฎ๐ฑ to ๐ฏ. ๐ญ๐ฎ๐ฑ
This means that the rate of new bitcoin mined with each block was ๐ค๐ถ๐ต ๐ช๐ฏ ๐ฉ๐ข๐ญ๐ง. So instead of about 900 new bitcoin being mined each day, ๐ผ๐ป๐น๐ ๐ฎ๐ฏ๐ผ๐๐ ๐ฐ๐ฑ๐ฌ ๐ฎ๐ฟ๐ฒ ๐ป๐ผ๐ ๐บ๐ถ๐ป๐ฒ๐ฑ.
Starting at block 840,000, the stock-to-flow ratioโor the ratio of new bitcoin compared to already-existent bitcoinโbecame roughly twice that of gold, ๐ผ๐ณ๐ณ๐ถ๐ฐ๐ถ๐ฎ๐น๐น๐ ๐บ๐ฎ๐ธ๐ถ๐ป๐ด ๐ฏ๐ถ๐๐ฐ๐ผ๐ถ๐ป ๐๐ต๐ฒ ๐๐ฐ๐ฎ๐ฟ๐ฐ๐ฒ๐๐ ๐บ๐ผ๐ป๐ฒ๐ ๐๐ซ๐๐ง! ๐คฏ
These halvings, which happen every 210,000 blocksโor roughly every 4 yearsโis how Bitcoinโs supply cap is enforced, and is one of the primary causes of Bitcoinโs 4-year bull/bear cycle.
๐ง๐ต๐ฒ๐ฟ๐ฒ ๐๐ถ๐น๐น ๐ผ๐ป๐น๐ ๐ฒ๐๐ฒ๐ฟ ๐ฏ๐ฒ ๐ฏ๐ฏ ๐๐ถ๐๐ฐ๐ผ๐ถ๐ป ๐ต๐ฎ๐น๐๐ถ๐ป๐ด๐, and 4 have already come and gone. Each one marks a turning point in Bitcoin's history, when the worldโs hardest money hardens even more, and further secures our civilization against an uncertain future.
3๏ธโฃ On ๐ฎ๐ณ ๐๐๐น๐, Donald Trump gave a keynote speech at thebitcoinconf (npub1rwhโฆ7avv) in Nashville, TN.
This was the first time a former presidentโwho later became President-electโspoke at a Bitcoin conference...๐ฃ๐ถ๐ต ๐ช๐ต ๐ธ๐ฐ๐ฏโ๐ต ๐ฃ๐ฆ ๐ต๐ฉ๐ฆ ๐ญ๐ข๐ด๐ต!
Donald Trump declared that he will:
๐ #FreeRoss from prison on day 1
โก Make the U.S. the global hub for Bitcoin mining
๐ Fire Gary Genslerโwhich, to Trump's surprise, was met with an ๐ฆ๐ณ๐ถ๐ฑ๐ต๐ช๐ฐ๐ฏ of cheers
Donald Trump is still falling down the Bitcoin rabbit hole, so there's still much for him to learn, but the progress heโs making is very promising!
Whether you agree with his politics or not, his support of Bitcoin solidified its role on the national and global stage. ๐
https://youtu.be/9UxAUryUKXM
4๏ธโฃ On ๐ฑ ๐๐ฒ๐ฐ๐ฒ๐บ๐ฏ๐ฒ๐ฟ, Bitcoin broke $100K for the first time ๐
After years of waiting, it finally happened. Many Bitcoiners had vowed to keep โlaser ray โtil 100Kโ on their social media avatars, but now, with that milestone reached, many adopted a new mantra: ๐๐ข๐ด๐ฆ๐ณ ๐ฆ๐บ๐ฆ๐ด โ๐ต๐ช๐ญ ๐ง๐ช๐ข๐ต ๐ฅ๐ช๐ฆ๐ด!
๐ช๐ต๐ฎ๐ ๐ฐ๐ฎ๐๐๐ฒ๐ฑ ๐๐ต๐ฒ ๐๐๐ฑ๐ฑ๐ฒ๐ป ๐๐๐ฟ๐ด๐ฒ ๐๐ผ $๐ญ๐ฌ๐ฌ๐?
Perhaps it was a combination of Donald Trumpโs victory a month prior, the ETFs that were more successful than ๐ข๐ฏ๐บ other before them, and of course, Bitcoinโs absolutely limited supply.
Or maybe it's just because Bitcoin is an idea whose time has come.
For OG hodlers, 100K was more than a nice round number; it represented vindication after years of FUD and criticism, and it caught the attention of many former naysayers. ๐
The FOMO itโs already causing is an important step toward the next bull run, ๐ธ๐ฉ๐ช๐ค๐ฉ ๐ช๐ด ๐ซ๐ถ๐ด๐ต ๐จ๐ฆ๐ต๐ต๐ช๐ฏ๐จ ๐ด๐ต๐ข๐ณ๐ต๐ฆ๐ฅ. ๐
5๏ธโฃ On ๐ญ๐ด ๐๐ฒ๐ฐ๐ฒ๐บ๐ฏ๐ฒ๐ฟ, El Salvador agreed to the IMF's terms to receive $1.4 billion in aid from them.
The catch? ๐๐ฉ๐ฆ๐บ ๐ฉ๐ข๐ฅ ๐ต๐ฐ ๐ค๐ฉ๐ข๐ฏ๐จ๐ฆ ๐ต๐ฉ๐ฆ๐ช๐ณ ๐ญ๐ข๐ธ ๐ต๐ฐ ๐ฎ๐ข๐ฌ๐ฆ ๐ฃ๐ช๐ต๐ค๐ฐ๐ช๐ฏ ๐ข๐ค๐ค๐ฆ๐ฑ๐ต๐ข๐ฏ๐ค๐ฆ ๐ท๐ฐ๐ญ๐ถ๐ฏ๐ต๐ข๐ณ๐บ ๐ง๐ฐ๐ณ ๐ฃ๐ถ๐ด๐ช๐ฏ๐ฆ๐ด๐ด๐ฆ๐ด. ๐ฎ
It had been compulsory for merchants to accept bitcoin, but this was rarely enforced, so removing it seemed like an acceptable tradeoff for President Bukele.
Since 17 November 2022, El Salvador had been buying 1 bitcoin each day, regardless of the price. But on the 19 December of this year, and again on the 21st, President Bukele used the funds from the IMF to buy ๐ญ๐ญ ๐บ๐ผ๐ฟ๐ฒ bitcoin! ๐คฏ
What would ๐บ๐ฐ๐ถ do if you suddenly received a large sum of fiat?
Hopefully, youโd buy bitcoin. ๐
๐ฎ๐ฌ๐ฎ๐ฐ ๐๐ฎ๐ ๐ฎ๐ป ๐ถ๐ป๐ฐ๐ฟ๐ฒ๐ฑ๐ถ๐ฏ๐น๐ฒ ๐๐ฒ๐ฎ๐ฟ ๐ณ๐ผ๐ฟ ๐๐ถ๐๐ฐ๐ผ๐ถ๐ป! ๐
History will doubtlessly record it as the year when nation-states entered the sat-stacking race, and adoption began to change from "๐จ๐ณ๐ข๐ฅ๐ถ๐ข๐ญ๐ญ๐บ" to "๐ด๐ถ๐ฅ๐ฅ๐ฆ๐ฏ๐ญ๐บ" (H/T Parker Lewis (npub1w69โฆzltw) ).
Remember to ๐๐ถ๐ธ๐ฒ, ๐ฆ๐ต๐ฎ๐ฟ๐ฒ, and ๐๐ผ๐ผ๐ธ๐บ๐ฎ๐ฟ๐ธ this note, so you can look back on this next year, and see how far we will have come by then!
What were some of the highlights in the Bitcoin space for you this past year? What are your predictions for 2025? Let us know in the ๐ฐ๐ผ๐บ๐บ๐ฒ๐ป๐๐! ๐