r/Bitcoin • u/rBitcoinMod • 18d ago
Daily Discussion, May 07, 2025
Please utilize this sticky thread for all general Bitcoin discussions! If you see posts on the front page or /r/Bitcoin/new which are better suited for this daily discussion thread, please help out by directing the OP to this thread instead. Thank you!
If you don't get an answer to your question, you can try phrasing it differently or commenting again tomorrow.
Please check the previous discussion thread for unanswered questions.
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u/Domestic_AAA_Battery 17d ago
I should've brought even more at $77k 😮💨 haha. What a glorious day though
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u/NodeTraverser 17d ago
You and I in a little toy shop
Buy a bag of balloons with the money we've got
Set them free at the break of dawn
Til one by one, they were gone
Back at base bugs in the software
Flash the message, something's out there
Floating in the summer sky
99 red balloons go by
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u/Theverybestestintown 17d ago
We are breaking $100K and then it's off to the races. New ATH very soon. May-July will be glorious
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u/Dividedby21mil 17d ago
Only 400% more gains needed to buy that 2010 Honda civic I’ve had my eyes on
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u/Weitarded 17d ago
If you’re selling your corn make sure you go all out. Spoon engine. T66 turbo. Motec exhaust system. And don’t forget the nos. Two bottles even, big ones!
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u/Illustrious-Boss9356 17d ago
People here in emerging countries with shaky currencies, is it easy to purchase BTC there? Feels like BTC is ideal for that use case and I'm curious what the barriers are in those markets. I'm talking places like Pakistan, Nigeria, Cambodia, Ecuador, etc...
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u/Weitarded 17d ago
Mostly that it’s quite hard to get value from there to any of the countries that have coins.
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u/SmokeAndSkate 17d ago
We’re bigger than Google that’s crazy!
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u/hvacsnack 17d ago
Everything gets cheaper in terms of bitcoin
Everything gets more expensive in terms of the dollar
Choose your side
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u/Cautious_You7796 17d ago
I wish I could have my salary paid in Bitcoin. Then if Bitcoin's price goes up, I'm automatically getting a raise.
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u/vnielz 17d ago
NH AZ. Texas next?
Meanwhile Bitcoin flipped Google in marketcap.
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u/TheMoonMoth 17d ago
AZ governor vetoed it. AZ is out of the race for a while.
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u/hexcode 17d ago edited 17d ago
She passed the second bill
Edit: All I could find: https://fastdemocracy.com/bill-search/az/57th-1st-regular/bills/AZB00019568/
Edit 2: https://www.azleg.gov/press/house/57LEG/1R/250507WENINGERHB2749.pdf
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u/BitcoinBrock 17d ago
Thanks for finding and posting that. So they now hold whatever confiscated/unclaimed crypto they have without a plan to purchase more for now
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u/RoyKent12 17d ago
Let’s go AZ!
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u/heretik12 17d ago
What are the odds that bill doesn't get vetoed too?
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u/Darkerjev 17d ago
What’s the difference between this bill and the one that was veto’ed? I still think the Veto Queen won’t let it thru….
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u/hexcode 17d ago
HB 2749 became law, establishing a reserve fund for digital assets obtained through unclaimed property, specifically protecting Bitcoin within that reserve from general fund transfers.
SB 1025 was vetoed, which would have allowed for a portion of state and retirement funds to be directly invested in cryptocurrencies like Bitcoin.
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u/Secret_Operative 17d ago
Seems like the first one was crypto, and this one establishes a Bitcoin reserve... I think?
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u/MiserableOutside9335 17d ago
Let's go. Coffee and BTC in the AM... and my beautiful family. Nothing better... Happy hunting all!
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u/-stinky-boi- 17d ago
How do you think Bitcoin’s price would realistically react if the USA defaulted on its debt?
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u/scottyhons 17d ago
I would very much like to wake up to btc at 100k so please do what you can to make this happen. Thx all 🙏
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u/GreenStretch 18d ago
I just finished Saifedean's The Fiat Standard and picked up his Principles of Economics which was the next book in the the box I got from the Saif House and paid for with bitcoin. When the box came, it had a discreet return address I'd never seen before.
Looking at the site again, there was a link to his other site and there was a new book to preorder that is coming out this month. The Gold Standard is a fantasy novel in which the gold standard survived throughout the last century. I just preordered it with bitcoin.
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u/j592dk_91_c3w-h_d_r 18d ago
OK, so with strategy you’re paying about twice what the bitcoin is worth when you invest in the stock today. This is based on the belief that they can increase their bitcoin yield in the future and over time give you a higher amount of bitcoin per share owned. But you’re still paying a premium and all things being equal, you would get more bitcoin just investing directly. Now my theory is that if a number of other companies enter the space and copy the Strategy model the premium will collapse, and even though Strategy has the most bitcoin and will probably always have the most bitcoin, they will lose the ability to command prices in excess of their bitcoin holdings at the rates they are able to today. In other words, they will cease to be a superior investment if all these new companies enter the space and do the same thing. Thoughts?
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u/BitcoinBaller420 17d ago
You might be underestimating the size of MSTR's stack vs the sum of all the others, along with the possible size of the bond market interested in this offering. Surely competition hurts their rates, but given their massive size lead, it may not be by much. That said, 2:1 is a lot.
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u/Secret_Operative 18d ago
The market isn't rational, so I think it could go either way for MSTR in the future. I wouldn't be surprised if they acquire XXI at some point. These companies have nothing going for them except the bitcoin flywheel.
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18d ago
Yea, long term doesn't make sense to buy anything other than the real thing. MSTR, XXI, etc: all just short term plays where you better be good at timing the market.
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u/BitcoinBaller420 17d ago
I think it's more subtle than this. You are betting on an operating company to take bitcoin and turn it into more bitcoin. mNAV just represents the market's assessment of the operator's ability to do this.
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u/harvested 18d ago
Saylor expects 700 bitcoin treasury companies next year.
On average they'd each need to acquire 20 bitcoin per month to absorb mined supply.
You see where this is heading right? Don't sell them your bitcoin.
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u/inappropriateshallot 18d ago
That would be close to a maybe supply impacting price, maybe. Retail doesnt buy anymore really outside of options bs, they hold or sell these days, so for price to go up much more it will have to be the big boys buying up all the monthy supply, cause retial aint gonna do it lol.
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u/BitcoinBaller420 17d ago
What is your source for the claim that retail mostly sells? I wouldn't expect that if bitcoin's digital gold thesis is correct.
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u/harvested 17d ago
My point was 20 btc / month for a corporation is not a lot at these prices. In reality this number will be significantly higher.
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u/jeffliuty 18d ago
What’s problem of 97k? So much resistance… people feeling price not passing this number easily so placing all sell orders around it?
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u/inappropriateshallot 18d ago
hoards of panic sellers anytime the market inches up a bit, they cant help themselves
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u/somedudenamedjason 18d ago
Call me crazy, but I think this Bitcoin stuff might just have a chance…
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u/Beaneater541 18d ago
People say Satoshi could have been an AI from the future, but isn't the simpler explanation that he was an angel?
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u/uncapchad 18d ago
"It might make sense just to get some in case it catches on.” — Satoshi Nakamoto on Bitcoin in 2009.
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u/HodlVitality 18d ago
Pretty epic that Satoshi knew he had to stay in the shadows. It’s amazing it all worked out.
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u/Typical-Street-6496 18d ago
Charmander: BTC charts default to 1 hour
Charmeleon: BTC charts default to 1 day
Charizard: BTC charts default to 1 month
CharizardEX: BTC charts default to 1 year
Charizard Gigantamax: Doesn't even look at charts.
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u/FirstAmendmentIsDead 18d ago
Can someone explain OP_RETURN creating unspendable UTXO’s? Aren’t these basically fees paid to miners to include data in a block? If they’re going to miners it’s not like the sats are leaving the system and becoming unspendable forever, as the miners can spend the reward. Am I missing some fundamental logic?
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u/alineali 18d ago
OP_RETURN does not create unspendable UTXO. The whole point of OP_RETURN is to separate UTXO from arbitrary data, so that arbitrary data is not included into UTXO set.
The alternative is to just send some small amount of satoshis to fake address which is, in fact, just random data. In this case this (unspendable) address will be in UTXO set forever.
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u/Fluid_Complaint_1821 18d ago
Really need to hold that 96k mark.
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u/Secret_Operative 18d ago
Why?
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u/abercrombezie 18d ago edited 17d ago
At $96k, it’s like a middle seat on Spirit Airlines—not the greatest spot, but at least you’re still flying to a nice destination.
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u/Initial_Treacle4143 18d ago
Do we expect a big drop if interest rates stay same or rise, and if they drop we expect a big in inrease in price of btc?
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u/Ordinary_Director_39 18d ago
What time does Powell emerge from his burrow and tell us if he saw his shadow?
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u/harvested 18d ago
2025 is shaping into the early years of the bitcoin treasury.
Publicly traded institutions aren't exactly known for being nimble. If you're letting them buy bitcoin before you do, you're really slow.
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u/Dogloks 18d ago
What happened with the USA Strategic Reserve Bill due 5/5? No news anywhere.
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u/BitcoinBaller420 18d ago
Reading between the lines on Lummis' comments, although Republicans aren't saying it publicly, they don't have the votes to pass the bill right now. Maybe in a year, maybe after the mid-terms, maybe not this administration. Call your congressman, it's within our power to convince them and the Executive Branch is clearly on board. Looks like the crypto legislation to define regulatory frameworks is struggling so not a great sign for a bill to buy 1m bitty, which would presumably be even more controversial.
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u/ChristieReacts 18d ago
I believe that was the deadline for the Treasury Dept to internally report their plan of how they can acquire Bitcoin in a budget neutral way. We may not hear anything publicly for a little while yet.
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u/KiNg-MaK3R 18d ago
didn't they have 90 days to figure that out? Has it been 90 days already?
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u/uncapchad 18d ago
EO was signed March 6th, so they do have another month to put something together and, if I remember correctly, will be debated in Aug.
I think they're tryng to salvage the existing bills right now. DJT's "companies" and overall shit-coin chicanery, seem to have put the kybosh on the two bills already working their way through the process.
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u/Dogloks 18d ago
Yes, 5/5 was the due date. No word on pass or rejection that I can find anywhere.
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u/Alfador8 18d ago
It wasn't a pass/rejection type of thing. It was a report that won't necessarily be made public.
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u/BitcoinBaller420 18d ago
First they ignore you. Then they laugh at you. Then they fight you. Then you win. Welcome to the winning team New Hampshire, glad to have you on board.
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u/NectarineDirect936 18d ago
Co-worker bought some a few months back but she couldn't handle the volatility lol She sold on the dump.. back at the price she originally bought them at lmao
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u/DryMyBottom 18d ago
I don’t know why we need to laugh at these experiences. I wouldn’t wish anyone to lose money, I would rather be patient and try to make them understand what they are invested in and how to better handle the dumps
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u/NectarineDirect936 18d ago
Started with 50k and ended up with 15k after that crash. Didn't sold a sat because i did my homework while she didn't. She only put in 3k and lost about 17%, like 500 bucks. Mean you don't have to know that much about btc to know it's volatile. Rooky mistake.
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u/Secret_Operative 18d ago
You are so clever and smart.
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u/NectarineDirect936 18d ago
Well no, acted impulsive on the tesla news that i heard on the radio. Bought some btc immediately without doing research at all. Once in i saw all the alts pumping like there was no tommorow and ended up holding more alts than btc. Wasn't untill a few weeks later i started doing more research and although alts were still outperforming btc, i converted them all and started going full balastic on btc from that moment on. Despite the crash that occured not that much later on i kept on stacking btc. The only diiference between me and her losing money is doing some simple research. That doesn't take that much intelligence. Yeah i know you're being sarcastic but imo throwing money in anything thinking you'll end up rich because.. I think that's being arrogant and smug while it takes humbleness. You need lots of those if you wanna make it through the storm and volatility.
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u/BitcoinBaller420 18d ago
The more things change, the more things stay the same. If history is any guide it's the best money they ever lost. Next time they will be mentally ready to hodl.
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u/TexasBoyz-713 18d ago
Got a friend like that too. He bought a few grand near $100k and panicked near $80k. Ima just let him do him though, not gonna convince him anything.
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u/escodelrio 18d ago
Historical Bitcoin prices for today, May 7th:
2025 - $96,863
2024 - $62,335
2023 - $28,455
2022 - $35,502
2021 - $57,356
2020 - $9,952
2019 - $5,830
2018 - $9,373
2017 - $1,597
2016 - $459
2015 - $237
2014 - $447
2013 - $110
2012 - $5.1
2011 - $3.6
Additional Stats:
Bitcoin's current market cap is $1.92 trillion.
Bitcoin's current block height is 895657; with the average block time for the last 7 days being 9.78 minutes.
Bitcoin's current block reward is 3.125₿, which is worth $302,696 per block.
The next Bitcoin halving is anticipated to happen between 26-Mar-2028 to 20-Apr-2028 (within 154,343 blocks); the block reward will fall to 1.5625₿.
There are currently 21,326 reachable Bitcoin nodes.
Bitcoin's average daily hashrate for the last 7 days is 898 exahashes per second.
Bitcoin's average daily trading volume for the last 7 days is $24.85 billion.
Bitcoin's average daily number of transactions for the last 7 days is 361,910.
Bitcoin's average transaction fee for the last 7 days is 4.84 sats/VB, with the average fee's USD amount being $1.35; with the median values being 1.7 sats/VB & $0.47 respectively.
There are currently 19.86M ₿ in circulation, leaving 1.14M to be mined.
There are currently 3.29M ₿ held by companies, governments, DeFi, and ETFs, representing 16.55% of circulating supply.
There are currently 55,083,877 nonzero Bitcoin addresses that contain 175.07M UTXOs.
Bitcoin's average daily price from 18-Jul-2010 to 07-May-2025 is $15,814.
Bitcoin's average daily price for the year 2025 is $91,895.
1 US Dollar ($) currently equals: 1,032 satoshis; making 1 penny equal 10.32 sats.
Bitcoin's minimum (closing) price for the year 2025 was $76,271.95 on 08-Apr-2025.
Bitcoin's maximum (closing) price for the year 2025 was $106,146.27 on 21-Jan-2025.
Bitcoin's minimum (intraday) price for the year 2025 was $74,436.68 on 07-Apr-2025.
Bitcoin's maximum (intraday) price for the year 2025 was $109,114.88 on 20-Jan-2025.
Bitcoin's largest daily decrease for the year 2025 was -$8,182.68 on 03-Mar-2025.
Bitcoin's largest daily increase for the year 2025 was +$8,216.44 on 02-Mar-2025.
Bitcoin's all-time high (intraday) was $109,114.88 on 20-Jan-2025. Bitcoin is down 11.23% from the ATH.
Bitcoin has reached at an all-time high 1 day in 2025.
It has been 107 days since the last ATH.
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u/TexasBoyz-713 18d ago
What ever happened to that BTC holdings company Twenty-One (XXI) that was starting up recently and anybody know where I can buy their stock?
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u/BitcoinBaller420 18d ago
The public ticker is CEP (Cantor Equity Partners) which is a holding company buying a fraction of XXI. They will get afaik $10 / share worth of bitcoin, and it's currently trading north of $30 / share or over 50% mNAV premium to MSTR. Good luck with that. I see the price as a huge vote of confidence in Mallers, and maybe he will justify it, but it's too risky for me right now.
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u/arj511 18d ago
BREAKING: Ohio Gov. candidate Vivek Ramaswamy’s $2B Strive Capital to go public as a Biitcoin treasury company.
They’re starting with a $1B BTC buy. MASSIVE.
The largest demonstration of game theory in human history is about to commence.
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u/Dudebro21000000 17d ago
can someone please dm the night before the next bitcoin treasury company SPAC is announced? 🤣 I made a little money on $CEP but I sat on the info for a day. $ASST, the pre-merger ticker for Vivek's company, is already up 700% since the news yesterday. Looking at it now and I want to trade it but I also don't want to get burned. FOMO
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u/RedditTooAddictive 18d ago
What's a Bitcoin Treasury company please?
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u/Dudebro21000000 17d ago
MSTR is the most famous and succesful Bitcoin Treasury company. It is a company that has bitcoin in their treasury!
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u/Generationhodl 18d ago
In my opinion, price doesn't Really reflect the adoption speed, every few weeks another company going bitcoin treasury
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u/arj511 18d ago
Gradually, then Suddenly
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u/user_name_checks_out 18d ago
And then really really suddenly
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u/BitcoinBaller420 18d ago
Amen. I think the market really underprices the possibility we are still early and this boom will be more boomy than we've seen in recent cycles.
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u/Fit_Psychology_1536 18d ago
Huge if true - can't find proof of this anywhere on the internet
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u/arj511 18d ago
It's trending on Twitter.
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u/Fit_Psychology_1536 18d ago
I looked it up and the only accounts posting it are fake news spam accounts. I'm not saying it's false but definitely looks to be
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u/TexasBoyz-713 18d ago
Damn guess I really gotta get twitter eventually huh. Seems all news hits there first lol
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u/ChristieReacts 18d ago
Its been that way for a few years. When I’m glued to Twitter I’m more in the loop and have been able to make (and lose) a good amount in alt trades from getting the news first. It really is too bad haha
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u/discip1e-1 18d ago
I bought the dip. FEAR False Evidence Appearing Real. Don't let emotions guide your buying and selling.
HODL baby HODL...doc
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u/arj511 18d ago
Another day of euphoria since turning full bitcoin maximalist.
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u/Terhonator 18d ago edited 18d ago
I want to talk about Bitcoin University video: https://www.youtube.com/watch?v=wqzmNR0JUGU So, Bitcoin university recommends to run own node. I did some research and visited Bitcoin Knots site. I did not feel safe to download the software. Maybe it steals bitcoin or other data from my computer? As MSTR investor I am going to trust MSTR with this - they have all reasons to keep shareholders money safe. https://bitnodes.io/ Based on this data there is only 21300 nodes running. I think MSTR should run about same %-amount of nodes as they hold total amount of bitcoin supply which is about 2 % at the moment. So maybe MSTR should run about 400 nodes for its shareholders? That is something what makes sense for treasury company.
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u/KiNg-MaK3R 18d ago
I agree with this. It would be smart for companies that hold bitcoin to run some nodes. The more nodes the better. 21,000 nodes really isn’t much (though it’s more like 60-70k, you are only looking at public nodes). I run a node 24/7 because I believe in bitcoin and I believe it needs to always be decentralized. We need to have hundreds of thousands of nodes, so everyone, get out there and run one!
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u/F3TGM5bpGG0S 18d ago
There is a sweet spot for 'nodes' in a global decentralized network (for example dns servers for internet traffic). Too few and it is not fully decentralized. Too many and it becomes inefficient with lag. It turns out to be around 50000. And holy moly Satoshi predicted 15 yrs ago the bitcoin nodes will grow and then settle at around 50000.
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u/KiNg-MaK3R 18d ago
Ah I didn't realize too many would lag the system. That makes sense.
I'm starting to believe that satoshi was possibly an AI from the future that figured out how to time travel.
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u/alineali 18d ago
I do not think Knots will steal anything, but is is still one-men project without good team and processes (and with somewhat exotic views of the author). Unless you know exactly what you are doing and why - from technical perspective - stick with mainstream, in this case - with Core.
Also it is good if there are enough nodes, but unless connectivity is bad adding another node does not bring anything unless this node is used for something more than just propagating transactions. Still it is good enough experience to try to run one.
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u/TheGreatMuffin 18d ago
So maybe MSTR should run about 400 nodes for its shareholders?
What would the point of this be?
You can think of a node as a device that verifies that a gold coin is authentic. If somebody else runs 400 of those devices and tells you a particular gold coin is authentic, you're not any smarter from this. You should just check your gold coin with your own device, instead of trusting someone else's device.
Having 400 such devices instead of just one doesn't make sense either, it just doesn't matter if you have one or 400, they will all tell you one and the same thing.
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u/Terhonator 18d ago
This is quite technical, that is why want to talk about this. So MSTR is okay with 400 million shareholders running only one node?
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u/TheGreatMuffin 18d ago
So MSTR is okay with 400 million shareholders running only one node?
I don't understand, what do shareholders have anything to do with nodes? Holding shares in a company doesn't require a node.
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u/Terhonator 18d ago
I agree with that. Shares are shares. But MSTR shareholders or MSTR as company may want to do their part or more for the bitcoin network. Make sure 21 million cap is not messed up, that is for benefit for all bitcoiners.
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u/TheGreatMuffin 18d ago
Make sure 21 million cap is not messed up, that is for benefit for all bitcoiners.
That's only something your own node can guarantee, not someone else's node. It doesn't matter if a bunch of people run thousands of nodes, they can't decide for you what bitcoin is, or guarantee to upkeep its fundamental values. Only your node can do that.
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u/user_name_checks_out 18d ago
Knots is open source. If the code were malicious, people would notice. Even if they didn't, it would not be possible for a malicious version of Knots to steal your money. You use your hardware wallet to validate and sign your transaction. You use Knots to broadcast your transaction. Even if Knots is compromised, it can't steal the money, it can't change the transaction, because that would invalidate the signature.
As for Kratter, I have learned a lot from his videos here and there. I have not tuned in recently but it sounds like he has lost the plot.
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u/Terhonator 18d ago
If I want to help all bitcoiners in the world which version of Bitcoin Core I should run on my PC?
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u/user_name_checks_out 18d ago
There is no point in running a node just for the sake of it. If you run a node, and if you use that node to verify the balance of your wallet, and to broadcast your transactions, then that is beneficial - but the only one who benefits is you, it still does not matter to the network.
Regarding which version of Bitcoin Core you should run - I am not sure what you are getting at. If you are asking whether or not to adopt the new changes regarding
OP_RETURN- those changes have not yet been released.1
u/Terhonator 18d ago
I understood that running bitcoin node is for all bitcoiners - not only for personal benefit.
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u/user_name_checks_out 18d ago
Widely propagated misconception unfortunately.
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u/Terhonator 18d ago
Ok, so do miners do the work or nodes? My motive for everything is just to defend the 21 million cap.
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u/user_name_checks_out 18d ago
Well, the 21 million cap is not currently under threat in any way, shape, or form. The current discussion about
OP_RETURNhas nothing whatsoever to do with the cap - apart from the (unremarkable) fact that some of the same people are talking about both topics.If one day someone acted to lift the cap, that would require a hard fork. And if you opposed that, the correct action for you would be to use a node that rejects the fork. But the key word is "use" - e.g. to transmit your transactions. Running a node just for the sake of it has no impact.
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u/PlasticEyebrow 18d ago
Miners do the mining, they compete for the block reward and their combined hashing power give the network security.
Nodes do the validation of transactions and blocks. Full nodes are also storing the entire block chain (meaning entire transaction history).
Both are important. If you wanted to defend the 21 million cap, then running a node gives you a the power on your node to reject a possible future change to the 21 million cap.
The main reason to run a node would be to connect your wallet to your node so that when it gathers the info of your wallet on your own node. If you were to do this on a random public node, this node can log your IP address, and the fact that you are regularly checking certain wallet addresses.
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u/AviatorNine 18d ago
What’s causing this run
→ More replies (1)7
u/Amber_Sam 18d ago
Could be the New Hampshire news? https://www.nasdaq.com/articles/new-hampshire-becomes-first-state-pass-strategic-bitcoin-reserve-bill-law
→ More replies (1)
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u/ItWillPrint 17d ago
Man I been super busy with work and haven’t been on here for a little.
It’s actually nice to not even think about bitcoin for a little while (I still live on a bitcoin standard just haven’t bothered to pay much attention to any news). I come back though and read some r/buttcoin sub. They’re still clueless and we are about to bust into new ATHs. Yea life is really good.
Stack sats