Re trading on CEXes...wanted to trade something on Gemini (for purely historical reasons).
Their liquidity is terrible...bots presenting fake ask/offers all the time...trades occurring in a few $$ range and are literally filling by a few bucks at the time.
In some cases the "tape" overruns your order by a few bucks and still not getting filled.
I am not sure how Bob was able to fill his "farm" orders, maybe OTC?
Fortunately, this is the last time I 'had" to trade there...phew.
The arbitrage abilities between exchanges is way less than it was in our earlier days of bitcoin, so I am having difficulties understanding what you are talking about. If you want to either buy or sell BTC, you can do it as a market order or as a limited order. By the way, BIG players, whales, bots or whatever manipulators try to hold prices in place and to profit from small moves in the BTC price until they are not able to no longer hold the BTC price in place.. Then what happens? it goes in one direction or another until they are able to try to hold it in place again... what is the BIG deal? They are able to do it until they aren't. so what? Dude...do you even trade bitcoin? Maybe through an intermediary, then? It seems like your knowledge is purely theoretical: "..you can do it as a market order or as a limited order". Duh! However, when doing so in any significant volume, you need liquidity and, especially, market depth. What good is your limited order when it does not fill because bots take the value away from it? My order on Gemini was sitting literally 30 sec two bucks BELOW the current "official" ask before it was filled. This does not happen on Coinbase. Hence my report that liquidity sucks on Gemini. Somehow this reminds me of a 40 year virgin flick when the main character opined about how woman breast feels..all fellas immediately figured out that he is a virgin. https://www.youtube.com/watch?v=ULYtRZE_VaM...but , he recovers nicely here, haha: https://www.youtube.com/watch?v=jm1qOT1FCzk |
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Re trading on CEXes...wanted to trade something on Gemini (for purely historical reasons).
Their liquidity is terrible...bots presenting fake ask/offers all the time...trades occurring in a few $$ range and are literally filling by a few bucks at the time.
In some cases the "tape" overruns your order by a few bucks and still not getting filled.
I am not sure how Bob was able to fill his "farm" orders, maybe OTC?
Fortunately, this is the last time I 'had" to trade there...phew.
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ETFs made bitcoin "boring" for now?
Is bitcoin now a 30-50% per year asset rather than 100-150%?
It's hardly a complaint, but I wonder if it really "changed".
I certainly do not feel that FOMO is out there, despite all the bullish fundamentals.
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A strange cycle  |
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worms don't like to be in the brain...they die in there...they 'like' to be in the gut  |
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Who are the a-holes who always sell it on Mondays and early in the week?
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A social commentary haiku:
back dimples being
caused by Kybella treatment?
...makes no difference
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do not try to time
bitcoin-it's impossible;
just let it succeed
# Sunday haiku
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Bitcoin Buddy is pushing towards 65k maybe it he gets there today ftfy...  |
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a couple of days ago IBIT was at -1.77% to NAV, here goes more than a year 'supply' of fees. You guys are 'playing' not at the level WS is playing at. GBTC price/NAV is VERY stable right now. I attribute it to the fact that they hired Goldman, probably to achieve exactly that. |
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The debate was not interesting, almost nothing to report.
Two guys saying that bitcoin has NO value...not less value, but none.
Eric was very polite, but was repeatedly interrupted.
Eric is a "bitcoin" guy. Mooch is there just for the $$ and trading, but could not explain why he thinks that bitcoin is a store of value apart from the fact that more and more people have bitcoin wallets.
Sometimes, I think that P. Schiff does not even believe his own bs.
Roubini is just a establishment propagandist who cannot concede even when clearly shown to be wrong in an example by Eric.
...and we are positive for the last 7d. Nice!
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...
totally OT:Phil, what do you think the all-time low hashprice will do to the price? Well depends on duration of it. If we stay in the 4 cent a th level long enough miners will shut down a lot. Maybe the death spiral that has been feared happens. Or a simple drop in hash to help miners survive. We saw crazy hash rate drop in april 2021 which dropped prices 60 to 30k. not so sure what will happen but I will be watching. ...price dropped 50% because of the China ban and obvious chinese miners disconnect due to the ban. The ban came first. |
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So apparently BRICS are going to use their gold backed "currency" for international trade. That's China, India, Brazil, Russia, South Africa, Egypt, Ethiopia, Iran, Emirates, and probably more to come.
If the USA are not going to use that asset, I actually see, apart from war, only one alternative for them to satisfy with another currency.. Something better than gold.
A "currency" whose security is backed by energy and that can be transferred without a middleman as digital information, a currency that no one controls.
You all know, as of today, there is only one potent asset of that kind.
I don't say Bitcoin used as the asset for international settlement is going to happen 100%, but it's in the cards.. and quite likely at that in my view. The price of 1 Bitcoin would then be several millions.
Please let this be a reminder.
Yes, sell when you must, but always be aware about the huge potential this invention that you own a part of has.
Not going to happen until much much later, maybe 10-20 years, imho. Countries are too different with too many agendas. |
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Over the last decade, this market has become all too predictable.
The whales now are gunning for sub 50K, and they will eventually crash it down below that.
Why sub 50K?
Because if you look at the chart, that's where they started seriously pumping the market with heavy leverage on 2/25.
They always short it back down to where they started.
It's all an effort to get weak hands to shit their pants and sell, and to knock stupid guppy day tarders out of their long positions.
Easy problem to solve, just HODL.
within ~10%  ...so 46-47K should be "sufficient". could be just for a minute or a few seconds, though. |
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^ trying to pooh-pooh Mr. Market? We should admit that going down 8% after halving (and 19.5% since the ATH a month or so before) is not what most of us expected. Not a biggie, yet, of course, but it is enticing to think about why this is happening. I don't buy into P. Brandt 25% probability that bitcoin has already exhausted it's bull phase as it would be quite pathetic of a bull, but it seems that some macro factors are playing into this: maybe persistent inflation and hence no easing or maybe stagflation (albeit it is ridiculous to expect stagflation when we just started the AI era). I am reading that % of people not paying their bills is increasing in parallel with the credit card debt (1.2 tril in US). maybe the large %% of the population is simply broke (even with almost full employment)  Who knows, maybe we are on a verge of a recession and bitcoin is able to "sniff it out" earlier than other, often manipulated market indicators? |
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The government seems to be at war against crypto at the moment. With Roger being arrested I think that opens up the door for the arrest of individuals and the confiscation of their coins. I wonder how much longer this war will continue escalating. It may end up being a scary thing owning Bitcoin. I’m not even sure what CZ did to get 4 months. I guess he’s lucky to be able to get this behind him somewhat quickly. Don't be too dramatic, imho. He is an expat (renounced US citizenship). Being an expat means that you suppose to pay tax on exit (as if you sold ALL of your assets). They allege that he did not do that, that's all...for now. |
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current status of corn:
 Hong Kong ETF's were a total flop. Womp Womp. But that was obvious, since China won't buy. Now, if China decides to unban Bitcoin... That is a different story. ...it's no use crying for 'spilled' corn?  |
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