What people think BOA patent news means: mass adoption of crypto
What it actually means: Cease and desist orders to all existing crypto exchanges, and either no use of the patent or use for proprietary bank coins
Good thing decentralized exchanges won't give a damn. Which exchanges are decentralized? https://bisq.network/http://www.coinffeine.com/How is fiat handled? So it's placing trust in third party payment processors and/or third party escrows, neither of which are secure or truly irreversible by our standards.
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Its actually a trap to kill bitcoin and trade fake bitcoin derivatives, use proprietary bank coins, and impose regulations and laws on the crypto community, if not making the regular crypto ecosystem completely illegal. Ever hears 'keep your enemies closer'? Just a couple years ago the banks were our enemy and everyone seems to have forgot.
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A decentralized 'exchange' is either going to arrange in personal meeting or the trading of bank wiring details. There is no magical decentralized way of transmitting fiat or ensuring the security of the exchange.
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What people think BOA patent news means: mass adoption of crypto
What it actually means: Cease and desist orders to all existing crypto exchanges, and either no use of the patent or use for proprietary bank coins
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Obviously. Let me know when you find the video 'Bitcoin guy says bitcoin is going down" or "bank guy says bitcoin is going up"
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Right - the peak is a level logarithmically above the mean, driven by traders, and the bottom is a level logarithmically BELOW the mean, again driven by traders, and the two levels are vastly different, especially since we are dealing with exponential price discovery.
People make a mistake when I say "I predict a dip to $x" that I think that's the real value of bitcoin or that the price is going to stay there for a significant amount of time - no its a hammer candle.
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Bitmex is bitcoin settled. Im talking the upcoming CME/CBOE futures. If futures at CME/CBOE are traded at a premium, you buy bitcoin on the market at spotprice and short CME/CBOE futures. The difference minus fees is your arbitrage profit! With this you also dont run into a total loss --> if btc goes up, the btc you hold is worth more while the future worth less - if btc goes down, the btc you hold is worth less but the future contract worth more. There's a flaw in this somewhere. I cant quite explain it yet, but it has something to do with being stuck in two open trades, interest rates, bitcoin exchange risks, and there being an unlimited amount of bitcoin futures. And there's also no way to arb it on the opposite direction because you cant easily short bitcoin.
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How does btc futures arbitrage work, if a btc future is a limitless imaginary cash settled game that cant leave the account of the owner? Its like betting on horses. Im less bullish on this after learning how it works. The public isnt really getting exposure to bitcoin at all.
Its actually a way to keep all the traders OUT of the real bitcoin ecosystem, and dumping billions of imaginary bitcoins for them to hold instead, so we have less real market cap. bearish
This is on Bitmex which is bitcoin settled, CBOE and CME will be cash settled.
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It's not just that they bought at the peak but that this is a tech company and none of them had bought before then during all these years.
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Bitmex is bitcoin settled. Im talking the upcoming CME/CBOE futures.
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The 2013 bubble pop occured when mtgox started going down. At that point, all the traders decided that they needed to take profit while it was still physically possible for them to do so, and it reflected how many weak hands there were.
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There is no 'flow' of money into or out of bitcoin due to futures, and there is no way to arb. Futures is an imaginary betting game. They are completely separate.
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The day it was peaking at $19K it was like half the office at work was boasting about how they had just bought that day. I was embarassed to work there.
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And yes, the only thing that can cause this dip will be when the USA stops the use and transaction of bitcoin.
What makes you say this? Just 3 months ago the price was $4,000 and there was no US sanction against bitcoin.
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I think you failed to see my point in the chart above.
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I read some article over a year ago when the price was still below $1,000 stating that Bitcoin was using more electricity than a major city and that it was becoming an energy crisis. Now with prices 2,000% higher than when this article was written, there is incentive for 20 times more miners. Does this mean Bitcoin is using as much energy as 20 major cities and that it is becoming a serious energy drain? How will this be sustained? What about if we rally even more? There will probably need to be a shift away from POW I guess.
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single digits tomorrow
let us bet. 0.5 btc that it will not close below $10k on stamp by midnight. Single digits, not single Ks.
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This is very bearish. Bitcoin is dying confirmed.
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In previous bubbles, it was always the 1D MACD going down. However this one started off so slow that that rule was broken, so I guess it has to be the 3D, or the 1W?
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If you switch your charts to centi-bits you can re-live 2013
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