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It will be incredible, scary and interesting to see the USD prices going up tens of % a year, people distrusting the USD and moving their reserves in Gold and maybe in Crypto too.
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I understand that people look at the grand scheme of things and assume that when government takes more taxes things starts to be bad, but unfortunately it is not about government in general, it is about which government that takes your taxes.
For example, in places like Russia or China or Cuba they claim to be communist but what is communism in idea? Shouldn't it be everyone be equal? Then why do we have people who are super wealthy beyond logic at the top, and people who work for few cents per hour at the bottom? How is that even equal? So USA citizens see these and think that government is bad, and I agree, THOSE governments are bad, so let's not go full on communism because obviously it doesn't work and never worked. But, how about European style capitalism?
I mean there are ton of amazing companies in Europe that makes billions upon billions of dollars profit, yet they have free healthcare and free education and social help to poor, which means capitalism and humanity can work together without becoming communism.
The US already has a huge government, the problem is not that the government spends too little. Projections for 2021 : Overlay 5,8 Trillions $ Revenues 3,5 Trillions $ |
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On March 5, 2021, the U.S. Attorney's Office for the Southern District of New York announced that they had formally indicted McAfee and an executive adviser for allegedly fraudulently promoting certain cryptocurrencies and performing pump and dump schemes. McAfee is currently incarcerated in Spain, pending extradition to the United States. https://en.wikipedia.org/wiki/John_McAfee#Legal_issuesSad |
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Imagine if Salvador becomes wealthy bc it adopts Bitcoin, the free market and low taxes that will attract wealth and entrepreneurs.
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Let's say you have a large amount of BTC and you want to spend it / invest it / transform it in fiat but you do not want the BTC to be traced to exchanges or to you, how would you do it ?
It's not for me, it's to further my understanding of the space.
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It could go up then crash or crash right away or it could resume the bull market.
But it seems there is a consolidation between 30k et 40k so quite lower than ATH therefore if it does not go back up, one or several other crashes are likely.
The USD can also crash at any point which would push BTC price higher but I am wondering if BTC would go up or down if there is a big huge international negative event, let's say in July. In march 2020, there was a liquidity squeeze and a lot of negativity and BTC crashed even more than other assets.
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What about a pandemic ? ;-)
I think the post pandemic will be far worse than the pandemic : riots, massive hyperinflation, war, something else huge that will change humans forever
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Some traders set low limit buy orders in case there is a flash crash and a speedy recovery, I have not read on this particular case yet.
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The Bitmex insurance fund has 37 055,3070 XBT in it so 1,056,172,593.30 USD, more than 1 Billion $ at current price.  If someone is educated in the markets and allowed to play on Bitmex in his jurisdiction, he can go to my profile where he will find my referral link to Bitmex so I can finally get my hands on some news bitcoins.  |
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It would make no sense for Bitmex to refund it to its traders.
The funds collected in this fund is all through fee structures which are Bitmex's own revenue. It is not a communal pool of funds (although it may seem like it on paper) that the traders pool together in order to prevent bankruptcies in positions.
The owners should be free to withdraw from it whenever they want. Also, sometimes it goes down simply because of flash crashes which causes a ton of bankruptcies and fire sales, which will all draw from the fund.
Yes you are correct. Some traders probably succeed in finding profitable trades exploiting the limit risk on Bitmex when the price is extremely volatile, thanks to the insurance fund. |
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Selling at 80k or 100k is a no brainer. Doing that and having that be near the top, and then also buying again at the bottom of what dip may or may not come... the complexity of those additional factors can wreck a plan damn fast. Sell at 80k. great. OOps, the top shot to 500k, and the crash to a spike low of 140k, back to 1000k+ ... Oops. Think it can't happen?
Hodl past 80k. great. Sell at 500k. Looks good so far! Buy at 140k. Mmm, cheap coinz. Sell at 1000k. Cha-ching! The 18,5m bitcoins are worth 355 B$. The liquidity keeps increasing and as long as it does and people want bitcoins, the price should go up. A market cap of 1000 B$ is the equivalent of 53800$ per BTC. |
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There is a lot of liquidity fighting for the same goods. A few institutional investors are getting in, one by one, pouring millions in. But the retail investors are not getting in massively yet. In December 2017 alone, the total number of Coinbase users grew by 6,8 millions. If they each invest 200$, it's 1,36B$ fresh money buying bitcoins. https://www.statista.com/statistics/803531/number-of-coinbase-users/The retail investors will come and there will be less and less sellers, the price could skyrock (until it crashes if there is a liquidity squeeze) |
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Who is still poor because he did not believe ?
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In the beetting section, betting on the BTC price at the end of November
16,001 to 17,500 is x5,38 and 15,001 to 16,000 is x5,85
It seems like great odds since the price is around 16,000$ !?
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Who missed the bull move to 13k ?
I think all on the WO have seen the move Good for them, 30k$ next ? :-) I feel a big bloody horrible downturn may be around the corner in western countries and it will obviously affect the whole world. When the markets went down, Bitcoin went down with them. If the downturn is very inflationary, at least at first, Bitcoin should fare well relative to alternatives. |
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Who missed the bull move to 13k ?
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Currently, the balances of funds are not displayed on bitmex for a lot (all ?) users, ouch, they cannot use their funds to trade or withdraw.
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11169$  It was 11949 less than 24 hours ago. There will be some support at some point, where do you think ? 10500 ? I feel 12k is the new 10k, we can't break it, it's positive, we are still relatively high ! |
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In march 2020, the trustee got an extension up to July 1st 2020 but what happened since ?
I just found another fresh news about Mtgox, it said they change the deadline to October 15,2020 [1] Thanks, hopefully for mtgox clients their claims are not blocked in USD at the 2014 price "The amount of BTC held by MtGox as of September 30, 2019 is 141,686.35446516BTC." 1,675B$ at the current price (lower if they liquidate the BTC and crash the price). Am surprised there is not a mtgox thread up to date, the mtgox clients probably have means to talk with each other and the trustee send them updates. |
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