John W. Ratcliff

I have no idea if this is true or not. But it's definitely a way to think about some Bitcoin price changes on the weekend.

Bitcoin trades 24 hours a day seven days a week all over the globe.

It is a source of immediate liquidity.

The price correction with Bitcoin today coincidenced with the Jensen Haung NVIDIA news. Coincidence? Maybe. Maybe not.

Chances are, many people expect the price of NVIDIA stock to correct tomorrow.

So, where do you find liquidity on a Sunday? Bitcoin.

It only dropped the price of Bitcoin by a little over 1% but, tomorrow, the price of NVDA could correct much further.

So, grabbing liquidity out of Bitcoin on the weekend so that you have dry powder for action when the markets open tomorrow is a perfectly reasonable hypothesis.

I want to be clear, I have no idea if this is ultimately why it happened.

The purpose of this post is simply to explain the role of Bitcoin and how it acts as a source of liquidity for traders who take advantage of the fact that it trades 24/7 while the markets are often closed.

People are always looking for some a 'reason' why the price of Bitcoin changes; they might be asking, "why does news from NVIDIA affect the price of bitcoin"? These seem like reasonable questions to be asking.

But the real answer is often simply that Bitcoin is a source of liquidity when all the other markets are unavailable.

To be fair, I'm anti-crypto too. I'm pro bitcoin, of course, but 'crypto' is a bunch of copycat scammers, rug pullers, and gambling degenerates.

Food recommendation if you ever visit Hilo Hawaii.

There's this restaurant called "Pineapples". I lived here for over two years before I tried it and, even then, only because someone gave us a gift certificate.

We didn't go there because we just assumed that it was a "tourist trap" because it's always cram packed with tourists while other restaurants nearby sit empty. We figured the cruise ships just send them all here.

Well, surprise, it turns out that it is *not* a tourist trap because "trap" implies that it's a rip-off. Which it is most definitely not.

Reasonably priced food that all tastes amazing.

This is the Hilo Local Plate. BBQ Kalua pork and spicy Kalibi ribs with mango slaw. Massive portion size and only $23. Which for Hawaii is quite reasonable.

Drove an hour in rain so heavy I often drove 15mph under the speed limit our of fear of hydroplaning. The moment I get over the top of the mountain, like a knife cutting through the clouds, sunny and beautiful.

After spending a year publicly telling the world that AI is:

* Going to take away everyone's jobs
* Hack everything
* Probably kill us all

AI executives are shocked that there may be calls for regulation.

Crazy right?

Seriously, if there's an upside to what they are doing they have done a shit job of selling it to the public.

Maybe they should have cured a few diseases or something before they unleashed AI cyber hacking on the world and AI math slop? Ya think?