Bitfinex shorts just got to a new ATH (expressed in USD).
Good luck boys!
Waiting on the short slaughter that's about to commence like   |
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Where have all the MatTheCats gone? Where are all the TA gods? Where's a TA-wise Hercules to examine the Bitcoin odds? We need a MatTheCat. I'm holding on for a MatTheCat till the morning light. His margin has to be high, and his RSI low, and he's gotta be fresh from a bankruptcy fight.  |
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Is Rimbit a coin or some type of Spoetnik sex act? |
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That's the problem, I played the ups and downs of the rise almost flawlessly at max leverage (up 2.7x Bitcoins - around 3.6x fiat equivalent)
You are full of shit r0ach. I see absolutley no signs from you at all, that you are capable of reading markets so well, that you can sit and sell the highs and buy the lows consistently, like a pro. Absolutely no sign except for me publicly posting most of my trades in this thread, even with pictures of where I was buying and selling because I knew you would say I was lying and nobody can succeed in Bitcoin. You already know I was on the opposite side of 90% of your trades and that 90% of your trades were wrong in this thread. The only time we were on the same trade is when Adam posted here and said "O god, Mat is on the same side of the trade as us, we're fucked". It's not too late for MatTheMat to repent and get in the Bitcoin hyperspace shekel Cadillac of such profit. There's one empty seat left: http://www.youtube.com/watch?v=5l4OEJ38aLY |
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When China's mining oligarchy can implement MIT's ChainAnchor which turns off your ability to spend unless you comply with your local government's taxation and capital controls, then where Bitcoin is accepted is less relevant than whether it is no longer a permissionless system.
This is not a valid criticism that is Bitcoin specific due to what I said a few pages back. It's a problem inherent to ANY cryptocurrency you can possibly create, whether it's Bitcoin, Monero, Zcash, or Anonymintcoin: It's inevitable that an alias system would be developed for any successful cryptocurrency. The alias system would de-anonymize transactions of even the most perfect system because...that's what it's designed to do by voluntary compliance. But, governments would then mandate all transactions be routed through the alias system or you're considered to be a criminal launderer. So it seems no matter what type of cryptocurrency you develop, you will be forced to use the government scaffolding alias system regardless, which transforms the cryptocurrency into an entirely different thing than what it's designed as.
Governments just say, hey, fuck you, you gotta route all your transactions through our 2nd tier system, nullifying whatever it is your 1st tier system does. This brings you back to re-examine the point emphasized by Ted Kaczynski about technology, where he states it's a net negative game for humans. It's always possible he's right and nothing you can create in the digital space can be a net positive for freedom. This is stuff that I already know well, but I still dabble in Bitcoin because it's not a debt based, usury based, or fractional reserve currency. No matter what they do to it, I don't think they can make it worse than the fiat system that already exists. Yes, yes, I'm aware, you say they are going to use it to track people and tax 90% of all wealth. That's a problem that already exists before Bitcoin, and Bitcoin honestly doesn't improve their ability to do so much, if at all. Most transactions can't be done on-chain and will be done either off-chain or 2nd tier systems that have the exact same traceability as systems that already exist. |
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This time around, I may not have struck when the iron was hot enough times, but I have also avoided any catastrophic mistakes
That's the problem, I played the ups and downs of the rise almost flawlessly at max leverage (up 2.7x Bitcoins - around 3.6x fiat equivalent) and I'm still demoralized from leaving money on the table for some of the post-rise swings. The $20 moves that you don't take but know they're going to happen. Or when you realize all the successful trades you made on the swings down only made it so you have the same amount of money you had when it was higher. You have to be kind of a perfectionist in order to maximize gains, but nobody can actually do this every day and remain sane. Running a bot or buy and hold (investing) is the only way to not be overstressed about it, because even if I win like 80% of my moves, you eventually take like three in and out trades in a row, and even if the spread is the same as you went in, the transaction fees alone make you want to stop trading. I would imagine it's not physically possible for a MatTheMat to trade this market when I find it stressful looking at transaction fees, while every trade you make you're worried about losing 50%. Everyone in the metals market lost their shirts and are just now regaining some of the losses, so Bitcoin is not really any different from anything else in regards to being worried about how much you're gonna lose. The only way to trade this market (or metals) is for you to consider your wins and losses being in actual Bitcoins (or ounces of gold or silver) instead of fiat. |
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DOWN.
What if it goes up?  |
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Low volume bot trading in China manages to bring the price down with big volume on other exchanges. They don't even try to hide the manipulation, but I don't blame them, traders are blind anyways.
China, with Huobi, its "leading exchange because of volume" drops with around 500 BTC traded, while Bitfinex drops with around 6000 BTC traded. Whats even funnier is that Bitstamp had more volume on this dip than Huobi. The day these Chinese exchanges have fees is the day the whales lose their surefire way to eat up all you minnows.
Yea, was wondering if anyone else noticed this. Huobi rigged that drop to go as low as possible with 0 volume wash trading. Meanwhile, the entire sell side is 2-3 fake walls that will be pulled and the rest dust, so it could rise right back up to where it dropped from in seconds if "they" wanted to. |
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This is how I feel looking at halving clock:  |
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When you start to use terms like rainbow crosses, it might be worth taking a step back to reexamine your life.
In case you haven't noticed, those are just code words to hide the fact that Mat doesn't actually do TA (i.e. predicting where the market will go, not where you want it to go). Every Mat chart is him scheming up some absurd outlier number that can never be attained that he wants to take out a long at. I want to see a Mat silver chart. I think it will be something like "This is where I will take out my long, when silver returns to traditional 25 cent parity represented by the quarter". |
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2) Another Genius writes Ethereum.
Getting in bed with the bankers to premine the entire supply of a permissioned ledger in order to try and co-opt Bitcoin isn't genius, it's stupidity. Although selling your premine at the top before it implodes is genius. |
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They're apparently not storing their money in banks anymore, which causes the price to increase...but then might cause bank insolvency...which makes the price increase more: https://www.youtube.com/watch?v=MK-NoHjSgF8 |
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I am glad to see people buying Moneros. It is great thing to see the adaption.
Wasn't your last post that you wanted people to dump Monero onto your bid orders at .001? |
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Sorry that can't happen, because the physical commodity markets are too small and illiquid to hold the $trillions of liquid wealth locked up in bonds and stock markets.
That statement makes no sense! The bond market is selling unservicable debt, aka bad IOUs, not "liquid wealth" as you put it. The people buying the IOUs will eventually get shafted and hold a bag of zero, and when they do, things like metals and Bitcoin skyrocket while the debt markets collapse (and take down their respective currency with it). It is not required to transfer the market cap from bonds to metals and Bitcoin in some type of orderly process on an exchange. As a primitive example, let's say you only have two currencies on earth - the peso with 10% of market and the shekel with 90%. The value of all labor is represented by those two assets. If the shekel collapses, there's no such thing as "the peso is too illiquid to absorb the shekel market", it gets it by default - literally and figuratively. If the govt buys their own debt, it's the same thing as printing paper and you're essentially transferring value to Bitcoin and metals in that manner anyway. If governments try to rig metals and Bitcoin downwards, all it does is create bigger gains for the smart money that buys it while it's repressed unless you actually believe you can continue the fraud to eternity (not possible). This is why assets are likely to flow in US stock markets (via the US dollar) as the sovereign bonds start to fail in Europe.
Again, this doesn't make any sense either. For the stock prices to go up, those companies actually have to be moving product off the shelves, and the economic outlook of every country is generally bad. So you're basically saying a company like Ford, even though they are selling no cars, is just going to skyrocket in value for no reason? You're describing a speculative bubble, and those speculators would instantly sell the asset because they know the fundamentals are bad and put the money somewhere safer (something like agriculture that comes before cars, and safe haven investments like metals and Bitcoin). If there is a truly decentralized crypto-currency available when the US stock market begins to overheat at nosebleed levels, and if it has gained sufficiently liquidity, then it could see a tremendous influx of capital. Unfortunately, Bitcoin nor the altcoins have solved the scaling and decentralization issues.
From my estimates, all Bitcoin would need to do is scale to 8MB to allow market penetration as a checkbook type device for large value transactions in the middle/upper middle class of around $5,000 - $10,000. At around 1-2 MB, Bitcoin would be more of a tool for the top 2-10% of wealth assuming we rely on on-chain transactions to prevent fractional reserve. It's unknown just what percent of the transaction volume is required to be on-chain to prevent fractional reserve. If you think the answer is 100%, then obviously only something like LN would work. I don't care if you think it's "flawed" or whatever, that would be the only type of solution if you require all transactions on-chain. The only other alternative would be to use a technically federated chain where verification is centralized amongst one node or a few federated nodes, but the centralized orderer/verifier can't actually double spend or anything like that. All they can do is take the thing offline and then you're forced to manually replace them somehow. Realsolid actually already coded this system out, but it's a pretty hard sell being technically a federated chain because it has no way to replace the verifiers should they spontaneously die. Governments already have a helicopter money system, it is called "food stamps" and "unemployment insurance". The plan of the TPTB is to turn more than 50% of the people into social welfare parasites, so they will always vote to continue the totalitarianism.
There will be no dropping money from helicopters. Just more and more debt piled onto to people who have to beg for more totalitarianism so they can get some government handouts for their basic necessities of life.
And you think creating a dystopian civilization run by a single room full of jews to control a population of 6 billion will actually work? No, it will not work. The end result of such attempts is always being beheaded by guillotines. |
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You guys are pulling a MatTheMat about gold and don't understand TA is inherently reverse looking. It gives you trading ranges assuming externalities are constant. Mat pulled his "Bitcoin can't go above $400 because the chart isn't bullish enough". I told him those cost of production fundamentals vastly dwarf anything the chart is doing, but he wanted to trade the chart instead of fundamentals. There's no reason the price of gold can't go to 2011 levels right now seeing as the real world fundamentals that favor gold are probably even better now than back then. Lately it seems like Bitcoin goes up immediately after metals move too.
The only thing that can really stop Bitcoin or gold is deflation. Without central banker intervention, deflation would occur and drive down the price of everything. This is why some people don't want to buy either metals or Bitcoin and stay in cash. The problem with that thought is, if the central bankers actually allow deflation to occur, the entire system collapses. If they let the system collapse, Bitcoin and metals win. If create wheelbarrow hyperinflation, Bitcoin and metals win also.
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consumption tax is not income tax That's the entire point, to get rid of the Jewish criminals at the Federal Reserve and IRS. We're aware you're a banking shill who's frightened your fractional reserve & IRS empire is crumbling, but that's not our problem, that's your problem. Did I mention good luck with your millions of dollars in Ethereum losses? Or I guess that would be a billion when it goes to zero? |
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