Well, now that I'm back from a little happy walk it's time to think about this.
First, glad it's bitcoin and not a paypal shitcoin. A shitcoin would just be their little company scrip, which as we all know is worthless in real terms.
Yeah but....it's bitcoin and also 3 other shitcoins that we all know are completely worthless. sorry can't get excited about the Paypal corprotist shit sandwich getting served up for the masses.
you can't deposit your own btc, you can't withdraw your own btc, when you 'spend' btc from paypal the merchant doesn't receive btc ....
I mean wtf is it? It doesn't sound like btc ... it's just some joke token they are using in their internal spreadsheet for peeps who think they are in the btc market but are actually getting played by paypal.
the deception and surreptitious datarape by silicon valley continues, can't cheer this one on.
Finally found something I can agree with Marcus on. They will screw PayPal hodlers over just like the Robinhood traders get screwed over time and again. With unlimited fractional reserve and holding the real keys, PayPal will be scraping off the cream of trading profits from crypto users' crypto balances. Also by attracting bitcoin hodlers they will pool the btc and help the trading shorters do more damage. |
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~
I apologize for interfering with the dialogue, but it seems to me that we cannot hope for an increase in economic performance until we cope with the coronavirus pandemic. Why apologize, it's a discussion forum, people here discuss things and voice their opinion, no need to apologize if you enter a discussion, no need to apologize even if you have a different point of view and you think I'm totally wrong. That being said, the virus is one thing and the economy is another. Just because we're experiencing this it doesn't mean the economy will still plunge, after all the slump was caused by the forced shutdown, not by the virus, and if everything opens up tomorrow the economy will start recovering faster, of course..at the cost at more human lives. But at one point it's like going to war, you have to face some consequences no matter what your decision will be. And things are not that bad anymore: The number of new businesses in America is booming
Debt-fueled start up companies running purely in the red on cheap government-loaned, taxpayer debt is not "booming". It's crashing. It's a farce. So an average of 1M+ employees per week since March lose their jobs, and you want to applaud some kind of a "recovery" when a mere 661K of them get their job back? Really? |
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I did exactly that. I told no one, for fear of being thought insane. Even I thought I had gone a little crazy.
I have no regrets though, even when I was down 50% in the first few years. Worth it.
Was there a final clue or push that gave you the courage get up and do it, financially move to Bitcoinlandia? I just kind of knew that I was witnessing the birth of a legitimate new asset that Wall Street and the big Fund investors either still hadn't discovered yet, or were dismissing outright because they a) were clueless or b) couldn't game/control it. Most likely option b. I knew within just a few weeks of research that it would become a game-changer asset, literally a digital form of Gold 2.0. And I also knew about first-mover advantage and immaculate conception, and that Bitcoin was way ahead of anything else mind share wise. Actually if you do enough true introspection/thinking, you realize that with Bitcoin there is literally zero need for any other cryptocurrencies to even exist. So getting in on the ground floor of something this big, I just had to go all in, or I knew that I would have major regrets. |
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OT: an Altcoin rant...
Some poop, called Filecoin, is trading (FIL, first day) at $70, which with 2bil max coins means a projected market cap of 140bil.
Color me skeptical. Decentralized storage? Who gives a flying f-k?
Wall street went heavily 'inside" on that ICO (only accredited investors were allowed to participate, which is against the overall psyche of the "crypto" space anyway), various Winkelevi, Consensus, etc etc.
I will wait until it trades on Coinbase, then maybe even short it (if I can find where).
same story as COMP, they jerk it up, then 60-80% decline, me thinks
the market cap that is showing on coinmarketcap is BS as there were 200mil tokens released even at ICO, not to mention 2bil total.
Bitcoin is largely unaffected, but considering that some s-t got 14-140bil valuation for "nothing" make me sad for the market.
A scam for now.
Outside of them having any merit at all (which I highly doubt), this story is the same story as all the IPOs: There is no immaculate conception. The wealthy insiders get millions of units first at pennies per share, while the average Joe public has to wait to participate after the price has 10,000X skyrocketed pre-launch. If you buy these shitcoins at all, even just to trade, you are only making the rich even richer. Don't. do. it. |
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Apparently, I am not able to add numbers up. This report appears to be too good to be true. Something really strange: I am explaining it here. Maybe someone of you can help me understand what I am missing. You're right to question their "fuzzy math", I can't see it either. Also they supposedly invest in a whole lot of various shitcoins as well. Grayscale’s single-asset investment products provide exposure to Bitcoin (BTC), Bitcoin Cash (BCH), Ethereum (ETH), Ethereum Classic (ETC), Horizen (ZEN), Litecoin (LTC), Stellar Lumens (XLM), XRP, and Zcash (ZEC). |
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@ivomm
At the end of the day, when looking at all the buying frenzy from publicly traded companies, I think what really matters is the fact that there are less and less available bitcoin on the market. I believe proudhon can confirm that:
Supply Decrease: price increases, quantity decreases
Yes, although the exchanges can still keep a lid on things with increased fractional reserves to offset the reduced float. This only works as long as the market is lifeless with very few deep pocket buyers. But once an on-market buying frenzy starts, combined with mega short squeezes the FR will only make it worse for the exchanges. Price will be gapping up bigly. |
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I see that the over-leveraged barts are back.   |
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What's really funny (and a bit sobering) is when you listen to him speak about Bitcoin, and then you have that realization of "Oh shit, that's exactly how I sounded 7 years ago." Soo long ago. Once you get it, you get it. There's no going back. In fact, had many of us (including myself) put most, if not all, of our fiat in Bitcoin years ago, we would now be orders of magnitude wealthier. You've got to take risks... Smart guy!
I did exactly that. I told no one, for fear of being thought insane. Even I thought I had gone a little crazy. I have no regrets though, even when I was down 50% in the first few years. Worth it. |
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It worries me how excited people are over a tiny, random, upward blip that's obviously part of the normal fluctuations of bitcoin's proven downward trend. Without question the price will be back below $10k before the end of the year as the market continues its long term decline toward triple digits and below.
Born looser |
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God, he's looking even worse. Last saw him about 5-6 year ago and he looked bad then. Poor guy, aging well is a valuable thing in life. Actually for a 74 year old who habitually does lines and drinks like a fish, you would think he would look a lot worse. Also hilarious that he got paid in BTC for pumping shitcoins.  |
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Oh look, the CFTC scares all the rats with their coins off of BitMEX, and suddenly all of the barting comes to a halt.
Gee, who woulda thunk it.
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Either you are close to reaching "fuck you" status, or you have already reached it. Either of those scenarios would be good newses. Alternatively, you wrongly believe that you have reached "fuck you" status in regards to you are in a kind of denial state about possible "master(s)" that you are failing/refusing to recognize or grant proper credit(s). That would suck.  Curious question: If one were to finally achieve "fuck you" status level, what would be the motivation to continue posting around here? Asking for a friend. So you believe the only reason to be here is to achieve a goal and then leave?
I feel sorry for anyone in that catagory.I was joking of course, because otherwise I would have been out of here long ago.  But clearly that has been the only goal of so many judging from how many posters have dropped off over the years. Sad really. |
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Either you are close to reaching "fuck you" status, or you have already reached it. Either of those scenarios would be good newses. Alternatively, you wrongly believe that you have reached "fuck you" status in regards to you are in a kind of denial state about possible "master(s)" that you are failing/refusing to recognize or grant proper credit(s). That would suck. Curious question: If one were to finally achieve "fuck you" status level, what would be the motivation to continue posting around here? Asking for a friend. |
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Although, IMO, institutions will find a way to get into Bitcoin without an ETF. We've seen however, that in the last months despite the huge purchases, the price didn't move as much as it should. The only logical explanation is of course the fraudulent shorting using Mex and other not well regulated exchanges.
There's another consideration. If Wall Street whale traders do want a part of the trading action, then they want to control it. That means controlling a few on-off ramps (exchanges) where they can control the spread, and most importantly, control shorting and short coverage. I.E., you need a large, concentrated number of available coins to short effectively, and they don't want all the available coins floating over to an exchange or exchanges that they don't have a close relationship with. Especially if that exchange were to allow naked-shorting and 100X leverage. At least in theory, they want all the available trading coins to migrate to exchanges that they can control. There's also the question of risk: they don't even want to have trading accounts on flaky exchanges that in an instant can just up and shut down, and disappear with all their money and coins and leave them with no legal recourse. There is also a non logical explanation. As we are normal people here, carefuly thinking about every detail, we tend to forget that there are people who are not like us. Take for example Las Vegas - how many addicted people are in the casinos losing all the cash they bring in their pockets! The same is with the addicted daily traders, who can't be called manipulators, but like vicious brainless piranhas eat the price down until their stash is gone in an endless stop loss chase. The removal of Mex shorters will tip the balance against the piranhas and in favour of the natural growth. So I applaud the CFTC action and hopefully it will shut down Mex and put their owners and other money launderers in jail, where they belong!
You're not wrong here. |
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Cant they inject him with UV or something?
He could be using laser therapy . I recall a few articles on it showing some benefit. Or, you know, they could just let his immune system do the work. God forbid that anyone be allowed to let their own immune system overcome the effects of the virus. It's not like millions of people recovered that way. /big S |
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Because valid reasons  |
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Bye bye shorting bears.  |
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They always talk about an "October surprise" during an election year. Trump gets diagnosed with Covid-19 right on October 1st. His self-quarantine will last 14 days, and end exactly on the day before his next debate with Biden. What an utterly...amazing... coincidence. The odds. |
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