So trading really is this easy... just need to know how to count and you are golden.

I think in my area one of the most popular side jobs is lowballing the hell out of people on Craigslist or Facebook market place and eventually getting a lead on some product and selling it at a higher mark up. You would not believe the one of times I had one dude say stuff like “Instead of $100 how about $20 and I’ll pick up right away” and if you go to his profile you can see he already has what you are selling for $120.

Cars are the worst. So many curb siders. Basically it’s a pain to sell a car because they will offer you usually $1-2K under market and it’s a pain to buy from them because they have a sketchy looking title which obviously wasn’t signed by them.

I find it odd that they would sue Gemini at a time like this. Maybe the SEC is getting pressured by someone else. Going after Genesis I understand but Gemini is one of the most regulated exchanges out there. Did they not know in advance these laws how lending Bitcoin is considered an unregistered security?

Pretty crazy that the brand will be forever damaged and it was all due to the FTX collapse. It’s crazy how the contagion is still spreading when FTX collapse was over 2 months ago and Bitcoin is gaining on $20k again.

Just wondering why someone would send 4BTC to the Genesis block which is over $75K.

Here is the transaction
https://www.blockchain.com/explorer/transactions/btc/6805b175260c47549995c3ff19c3c51596651c26269e9f1b31c243986433a0b7

I understand many want to send a small amount so they can get a piece of history on the block chain but sending over $75K which is pretty much a burn address since most likely it will never get spent is kind of crazy.

Why do you think they did this?

It wouldn’t be run by SBF anymore. It would be run by new management and eventually later if it succeeds and has good revenue it would be sold to another company. And then someone like Binanace or Coinbase or someone else would buy it.

Obviously nobody would trust the exchange anymore if it was run the by same clowns. But if it had different management then people might regain trust. The brand is basically the only thing of value. If MtGox came back online many would use it because of the popularity of the name.

Tesla wasn’t the only overpriced stock. Most tech stocks were overpriced. Look how badly Netflix and Facebook have corrected over the past year. However you don’t have people calling out their ceos because the stock tanked.

Tesla stands out because it has followers that are almost a cult pretty much. They listen to everything that Elon says. Remember when doge crashed in price? People were pissed because Elon pumped it on Twitter and people bought at $0.50 a doge because they assumed it would go to $10 a coin and are now longing the bag.

I am sure many have experienced this but how many times did you go to some Restaurant or Fast food place and there are signs it’s either closed or short staffed and wait times are longer? Or you go to some business and the person working there has no clue how to do anything and tells you “sorry I just got hired here and just figuring everything out”? Probably happens a lot.

And you can see how the cycle is going. A low wage worker quits and gets a better job. And the first job had a vacancy and the only way they can survive is to pay more. So wage growth goes up. And both jobs have low productivity workers because they are new and this is stagflation pretty much.

That’s the part that I am puzzled because if it goes online then obviously everybody will withdraw everything. So who knows how it will work.

Maybe bring it online but with a haircut or for only new deposits? I don’t know. I am very surprised they even suggested this.

Listening to the FTX Bankrupcy hearing and its seems positive on many notes.

*They located almost $5B in liquid assets. Not including the locked SOL tokens which might be worth alot if SOL goes up in value in the near future.
*They also located almost another $5B of other investments, most likely these are the companies that SBF invested in
*They agreed to redact all the customer names (for now)

They are also thinking of rebooting the FTX exchange since they believe it can be profitable with all the fees. Once its stable and has good volume they will sell the business. So with the $8-10B in liabilities it should be enough to make the exchange solvent again, just like MtGox.

The feed went private for some reason so I can't provide a link but maybe the archive will be reposted on Youtube in a few hours by someone.

This situation is different than FTX or MtGox because they lend them their crypto for lending and got paid back in yield. With FTX or MtGox none of those funds were lent. Maybe a small amount for those who used FTX lend but most users never agreed to lend out their crypto.

Gemini earn however is in the same situation. All people there lent out their crypto to earn a yield and the judge for that case might also deed the same outcome.
So far no chapter 11 yet but the way dcg is handling all of this most likely it’s the path that will be taken.

When I was in high school a bunch of us had a crappy min wage job. Then one guy from work got a job at a construction company which basically paid double. Was almost same amount of labor. And one by one we all quit and went to work for that construction job.

This is pretty much what is happening with many. A lot of people got crappy jobs with bad pay and right across from them is an employer which pays them more for the same amount of work. So eventually these people quit and go work for the other employer.

The issue with Tesla investors is similar to Bitcoin pretty much. You need to understand that back in Jan 2020 it was $30 and back in 2013 it was like $3. It peaked at $400 and created euphoria kind of like with Bitcoin and people were expecting $1000 Tesla stock.

However many were shorting it because it was over valued. Many shorters got burnt. And the problem with most investors is that they never sold at $400 but probably kept buying more and more when it dipped. And now they are all carrying a huge bag with a large average price and they are very bitter about it.

So the Winklevoss twins on their Twitter posted what has happened with Gemini Earn, Genesis and 3AC. It actually all boils down to GBTC.

Remember when the premium was very high. It was free money to put BTC into the fund and collect the premium. They loaned 3AC those bitcoins which they kept the premium and in turn GBTC had a higher market cap and more money for Barry. Everyone was happy, making money for taking no risk pretty much until the premium magically disappeared and created all this mess.

Now that I think of it, Barry really should be under investigation for this entire ordeal which created this entire mess.

Honestly The amount of people who were blinded by Elon and thinking Tesla was going to be the next Apple is just crazy. There was some kid who invested his fathers retirement into Tesla and ended up losing $10 million dollars.

And what is funny is that the stock didn’t even drop that might. It peaked at $400 and bottomed at $100. Look at other stocks or some cryptos which fell more than that. Even look at Facebook which is a huge company and it also had a huge crash. And there is Netflix and many more. You don’t see people attacking their ceos due to stock loses. It only seems to happen to Tesla investors.

Yes I never understood this either. I think what is happening they are quitting bad jobs like at McDonald’s and basically staying unemployed until they find something better.

Most likely their friends had a bad job, at min wage and they looked for another job which was more fun and higher pay and they told all their friends about it and they also quit. And this is most likely all these min wage jobs that nobody wants to work because they are over difficult.

The problem with this is that Twitter does nothing to eliminate these bots. Even before Elon took over it was a major issue. Basically any large crypto follower had tons and tons of bots replying to any of their posts with this fake give a ways. They have been doing it for years. They do it because it works.

And the scam is pretty clever because if you look at the block explorer for those deposit addresses they give away, it shows people making deposits and right after getting 100% sent back. And they look legit however those are transactions that the bots send back and forth. Twitter needs to do something to combat this theft.

Well the difference between him and most other celebrities and influencers is that he is actually bullish at the bottom, which is complete opposite to most other celebrities.

How many influencers did we have in late 2021 which were saying Bitcoin will go to $100K or $250K or something crazy like $1M. They got so many to bag hold that is why many left crypto all together. At least Mark is saying this when we are in a bear market.

About 10 years ago I used to trade forex a lot. And I heard about Bitcoin usually from the news and it was always labeled as a scam by most news reports back then.

I used to think it was a scam also. However I got interested and learnt how the technology works in early 2014 and haven’t looked back. If only I got involved in 2012 when it was super cheap it would of been the best investment of my life. Was like $30 then a coin.

No I don’t think breaking $17k means anything. We can still go back in the range. I think once we break $20K and regain the 200WMA then there is a confirmation we might of bottomed.

I think this don’t happen anytime soon. We will most likely chop for many months until we get a clear trend of what is happening with the macro market. This week will be CPI and will clue in how the rest of the quarter will look like.

The accumulation phase isn’t this quick. It was quick in early 2019 by a few months. It started to crash in nov 2018 and didn’t bottom until dec 2018 and traded sideways for many months until April when it finally exploded upwards.

However in 2015 it was worst. It peaked in late 2013 and 2014 was a bear market which bottomed in Jan 2015 and then for most of the year it traded sideways. Many just quit crypto out of pure boredom. And who knows 2023 might be exactly the same.