It is what as known as protectionism. Problems like this are the biggest barrier to BTC. I did Gary's course at MIT online, blockchain and money. Here's my takeaway. He probably understands the game. So Uniswap saying "we dont have control over the smart contract for swaps" probably doesnt go over well with the SEC, considering that they airdropped UNI, which is a governance token, mostly likely in majority to themselves. So they control governance, therefore decisions, therefore the smart contract - contradicting their earlier statements. In addition, they have 30-40 employees ?, offices?, etc, etc, lots of overhead which costs lots of pesos. They have no actual "revenue". Right there is a huge red flag for the SEC, to say they live off "grants" and "donations" is preposterous to say the least, considering the UNI airdrop. Now almost ALL DEX, DEFI, services have their own shitcoin governance token and operate on the same business model - they act like a junior high school girl -> "What I say is true if people can't prove otherwise". Exchanges trade against clients while having knowledge of their positions, wash trades galore to create the semblance of market activity (NFT's, new shitcoins) and price appreciation. Has anyone considered perhaps the reason for the dump is that someone got inside information from the SEC, leaked it to certain people who are offloading everything and shorting, knowing they are about to come down hard on what is probably 90% of the crypto ecosystem out there ? I mean, look at ADA, they've been spamming the internet for months and months and years in a concerted marketing effort for their ICO and subsequent sales to the public. Outside of the USA technically, so "no worries bro, not a security under US law", yet in practice thats not the case. Saying something and repeating it doesnt make it true, some people know the game. Gary Gensler is one of them. To : Shitcoins -Get fucked dickheads From: SEC ----SOoN edit: #buy bitcoin Oh, come on! first off-"he probably understands the game". No, he does not. All he knows is a stupid Howey test and fiddling with it. It does not occur to you that we are getting CRIMINALLY low interest rates on our deposits considering the actual official inflation rates of 5-6%. SEC is just there so nobody gets real interest rates. Yes, buddy, in practice there is no Howey test outside US. Therefore, if US wants to be retarded, it can, but the rest of the world would move on. The rest is some wild speculation about impending "doom". I know that this board has lots of single coin people, but If they come down on 90% of crypto, bitcoin would get cut not in half, but by 70-90% and here is that. |
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earning 4% with USDC when everybody with $ earns 0.01%-that's why they are so up in arms about it. 4% is "real" yield and 0.01% is fakery...but we got there somehow with all those rescues since 1997 and now PTB are stuck and lash out (via SEC). SEC is just a tool to prevent a major "loss of face"...or is it "loss of faith"? |
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Excellent...take some vit D regardless.
I'm on 3000IU D3 per day. I was doing 6000IU daily, but that started causing some blood issues for me, so had to drop it down. I have a strange conspiracy theory that my high dosage of quality CBD capsules, daily - to help treat inflammation in another part of my body - has utterly prevented the bug from taking root in my lungs - Dosing a few hundred MG of CBD per day across a morning and evening regimen. I'm probably retarded, tho. There are probably all kinds of strange correlations that exist re this infection. It would take years to unravel. It definitely has a connection with blood and it's viscosity, at least it seems to. |
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Who got angry at bitcoin (and the rest)...who...who?
..so f-g tired of gotchas and rug pulls.
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COVID-19 Infection Chronicles - Day 4 (Morning)
No respiratory issues to report.
Excellent...take some vit D regardless. |
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Look at this little trollie, trying SO hard...derp.
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synonym: a word or phrase that means exactly or nearly the same as another word.
antonym: a word opposite in meaning to another (e.g. bad and good ).
..it's difficult to argue with Oxford...
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buddy doing heavy lifting. a nice back to back 52 then 52.5
I think I will not do any sales today.
maybe tuesday or thursday.
why sell at all? 1% $ loan against btc at 25% LTV at Celsius (you can borrow up to $2 mil). That 1% interest is most likely deductible as well, especially if you have a LLC. NOT a financial advice and, personally, i haven't taken such loan yet..but I also don't sell btc. |
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Just thinking about possible outcomes...
<snip>
We are going to see a WallStreetBets sort of black swan event. Retail is going to realize they can make the price go up like CRAZY by organizing their buys.
I will probably buy $30 (or more) tomorrow just as a gesture of support, but I doubt that we are at the wallstreetbets-like moment. Bitcoin is too complicated a concept for it to play out like this, especially before WS had a very large gulp of this stuff. wellstreetbets peeps will probably ape into a low cost coin like ... (<-the name goes here) instead. I think that within 3-5 days it would be a nothingburger (could be up by 5 or even 10%, but it could have made it regardless). ETF would be an entirely another ball game. |
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@JJG says: "and sure, somewhat sorry for your loss too, Biodom.. except I am a wee bit less sorry for you because you continue to whine over your prior lack of aggressiveness and you also seem inclined to promote lack of aggressiveness from others.. because of supposed structural disadvantages that newbies and normies have.. without even being able to recognize and appreciate that bitcoin brings a lot of power to many newbies/normies, and probably more likely to those newbies/normies who take a more aggressive rather than defeated/whimpy approach to their BTC allocation efforts.."
What losses are you talking about?
Every time you misquote and misconstrue whatever I say. Stay away from replying to me, period.
You keep making wrong theoretical constructs about people and then comment on such constructs.
Everything you say about me is factually incorrect.
In fact, the little diatbribe you posted has almost nothing to do with the quotes that you cut out.
You are, basically, a troll (or a little trollie).
Do you have anything else to do besides trying to post something at the middle school level?
Asking for a friend.
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Thought it may be interesting to note for those who dont know...There was an airdrop for dydx layer 2 dex, you had to trade a certain amount during august or something, etc. Someone did 1.7 BILLION in wash trades, paid like 3 million in fees, etc, to game the airdrop with multiple accounts and get a huge share of the tokens awarded. it was so blatant and obvious that they just deleted him (keeping the fees of course) from the airdrop.  not promoting the exchange or anything, just put a smile to my face. yea, but what about those who made only $3 mil in wash sales? My point is that you can only catch the most obvious violator while many others squeaked by. |
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Raoul Pal explaining why and how, we, bitcoin investors, are succeeding AGAINST the setup that is unfavorable to the regular Joe. https://youtu.be/2UHaaR7mzq8?t=379IMHO, accredited investor laws is one of the social roadblocks (in US) that hampers innovation. I actually got this point back when FB IPOed. Granted, you could have still made 10X afterwards, but not 100-1000X. In bitcoin, we were (and still are) in the lead position and WS is coming late. Boo-yah! |
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Not sure why market prefers running all kinds of s-t instead of btc..hoping for some major news (twitter implementation, ETF, etc) to shake the alt "bugs" off.
Right now, there is nary a day when "something" in the top 50 does not go up 20-30% for no other reason that their opportunistic VCs are "gunning" them up (witness a couple in the last 24 hr). We are at 41%, which is quite low.
Why do I care? Because around 35-36% dominance last time coincided with a global top in everything, including bitcoin.
I am not sure that it is going to be like this this time around, but I surely wouldn't like us stopping anywhere below $100K at the minimum, hopefully much more.
TL;DR A boost in btc price is badly needed so the rest can slow down and not overheat while bringing everything down.
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Timing matters. Reaching disgusting fuck you levels with a foot already in the grave would have little effect on the average human's happiness level.
In udder words
Hold my stash
In udder words
Baby, kiss 1M!
I feel you. I am 64 my okay success with btc is nice. But if I were 34 it would be more so. Yea, especially during this covid s-t. Unfortunately, you can't buy time..at least not yet..hang around another 20, who knows if we'll get something profound in the life extension field. |
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Just checked on the fees that I would need to pay to convert one of my shitcoins into USDT via DeFi and it comes to about $600. For $5000 worth of coins.
We are certainly not at the future of DeFi yet.
The RGB solution coming down the pike would be over the Lightning Network and cost almost nothing using client side validation. That is the future of DeFi.
I tried MetaMask. Fees running $100 to swap tokens. What a complicated and expensive process. Note to self: stick to bitcoin. Didn't fees on btc reached $30 or above in 2017. We dealt with it, right (segwit, batching, lightning, etc)? This alone does not mean much as there is always an argument that fees are high because the usage is high. I distinctly remember people like Trace Mayer making this claim in 2017. Naturally, there is a limit. If a tx costs $1000, almost nobody would tx, apart from a few whales. That said, as a wallet, metamask is awesome. We need a great wallet like this for btc. Some make claims that there are already a few good btc wallets, but when a TRULY great one comes, everybody would start using it. |
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I just hope lightning will spread it's wings. If not exactly lightning, then anything, but not what we have now.
EVERY interaction with an old system tells me how much f-ed up it is (in US).
All financial intermediaries are trying to fleece you as much as possible, banks are not paying any interest but want exorbitant credit rates (on credit cards).
I always pay credit cards on time so there are no fees, but, come on.
Anecdote: I have a disabled relative who lives in a rented apartment.
Before, the apartment management took cash, then only check, now they decided to link with some sleazy payment management company that..listen to this...charges money for payment from a bank account.
Is you want to pay with cc-a $30 fee for making a payment, i kid you not. What an outrage, especially since they "prey" on those who already have limited funds (in this case a disabled person).
TL;DR Financial services consumed american capitalism to a large degree.
Now it is ether bitcoin or we WILL go bust and relatively soon.
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New notice on Kraken. In light of regulatory guidance, all U.S.-based clients who want to trade on margin will be required to be Eligible Contract Participants.
Click here to self-certify your status to continue trading on margin with Kraken. ECP level is usually $10 mil, sometimes $5mil...it appears that PTB a.k.a large investors don't want smaller fish to play in btc on margin. |
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a bit of volatility here.
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Morning!
So, I bought some BTC today for the first time since 2014.
I decided to do a little experiment, I was offered a loan from a company (Qliro) and accepted, I borrowed 20 000:- (about 2300 USD), I set aside four months worth of payments on the loan (this will be used to pay of the loan for the coming four months) and bought btc for the rest (17500:- (about 2000 USD)) and I put those btc in a separate wallet.
Now I'm going to sell these btc in December when we go skyrocketing and the little experiment here is to see how much money I will make on this.
The plan is of course to repay the loan in full in December and do something fun with the profit.
I have been offered to up the loan with another 50 000:-, I might do that, still thinking about it.
So, as you can see the whole point is to make money without having to put in any of my own.
I did accept the offer to up the loan with 50 000, the money should be in my account on Monday, I will move it to another bank and do this buy from another broker, the brokers I use take about 10% commission, so my firs goal will be to reach break even. is this how it works in Sweden? 10% commish on a loan? Ridiculous, I might say..a shark's loan. If you have means of repayment, OK, but not OK in most cases if you don't. A leveraged play,which has a good chance of working...Good luck! |
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