Currently resistance at the contentious longer term trend line. Loose Cannon on deck.  Zoom:  |
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We left the channel under duress, and returned as quickly as possible. Tenaciously crawling toward The Line.  |
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I just had a thought.
Say the big boys were buying OTC. Banks, even central banks? Etc.
Wouldn't they be incentivized to sell a percentage of what they were buying on the retail market to keep retail prices as low as possible while they were doing deals in the dark?
I would be if I were them.
Since bitcoin has such a thin float they would not have to sell much to keep the rise at bay. If I were not lazy I would do a little due diligence to see if the evidence supports or refutes this idea.
Possible, for sure, however apparently not so difficult to buy big on-exchange. How deep is OTC liquidity? I would expect that to dry up before overall exchange liquidity.
Cross-market manipulation is illegal in most developed countries; it would be a bad idea for a large corporation to be involved in such a scheme.
I would expect such from CBs and the largest corps. Is the current lock-step action purely a result of an instant arbitrage army? Never used to work that way. I expected it to be tighter as markets mature, but wow. 'The Big Boys' tend to run 'The Big Scams', and they do get more sophisticated with experience, to dupe more people and escape detection longer. What a bargain: Accumulate vast BTC holding through shady practices, get caught, pay a dollar denominated fine years down the road. Sorry, where's the disincentive? |
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200$ annually, plus required spending 3000$ in the first 3 months. Who do they think they are, AmEx?  Advice: Take that $3200, buy bitcoin NOW. You will be so far ahead of any stupid VISA BS after the first 3 months as to not even compare. Probably the same with just the $200... I have not checked the details (ad blocker standoff), but... if you DIY, you also have keys... |
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Another day, another CEO doing a U turn on corn: |  |  | | 2017 | 2020 |
Well, what next in 2023? "BlackRock CEO Larry Fink:Bitcoin is the new Dollar!" Credit go to Plutosky on the Italian Board Sauce: https://youtube.com/watch?v=NKxTSk8cONwPinching my arm: By the CEO of f*cking BlackRock with close to 8 trillion Assets Under Management (that is 24x Bitcoin’s market cap). Don't they have a direct feed from the FED? Or am I thinking of a different swamp entity? |
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Don't forget what Hal Finney predicted more than ten years ago, or rather his napkin math calculation. (TLDR = $10m USD / BTC) Still, that's going to take a few more years (perhaps another decade.)
I came to $3M / BTC after a quick calculation (roughly $60 Trillion divided by 21 million) while pondering the idea of GBTC buying more BTC daily than mined daily. On the latter: if that's the case and we are truly in a new phase where there is relentless and relatively price agnostic buying on a continued basis above daily coin production, the question is simply: => at what point are HOLDlers willing to start parting with their coins? I don't know how I could gauge that or make an educated guess on where that level would be. My gut reaction would be that $50k would make a few large holdlers nervous and that $100k can be expected to be a big 'cash out' (=redistribute) moment. If anyone has a better scientific approach to this, let that person step forward. It is the ultimate marshmallow challenge. Many of us have lowered our time preference so much we are just not going to let go of much even when it does go up quite a bit. For me personally the formula revolves around comfortable retirement and a little diversification into property. I just don't want to spend much money on stupid shit, or even living large. And I am acutely aware that the longer I wait the more I will be left with in the end. That is where the real crux is, in my opinion. Where that point is for each whale/minnow. How much do hodlers hold? how much will they redistribute? In 2013 Plans to bank/fund/invest $xx000000 seemed prudent. Now, every day going forward reduces the $assets I want to hold: A very modest fund for living expenses, and whatever hard assets (personal real estate, working farms, profitable businesses etc) I want while exchange rate is favorable. The world we live in is changing faster than most can see or grasp. Hodling more, longer, is going to be more popular as we go, IMO. _______________________________________________________________________________ _______ t is the ultimate marshmallow challenge. Many of us have lowered our time preference so much we are just not going to let go of much even when it does go up quite a bit.
For me personally the formula revolves around comfortable retirement and a little diversification into property. I just don't want to spend much money on stupid shit, or even living large. And I am acutely aware that the longer I wait the more I will be left with in the end.
That is where the real crux is, in my opinion. Where that point is for each whale/minnow.
You sir, are very wise. Anyone not following a similar recommendation/approach is going to end up with massive regrets before they die. I see so many here joking about blowing their bitcoin "winnings" on fancy cars, frivolous shit and such, and inwardly I know some of them aren't really joking. What you don't know, is what they hold. What some consider a life changing amount is mere dust to others. Talk is cheap. _______________________________________________________________________________ _____ It was just about this point in the last cycle that we were hoping to breech 1k again. Just 4 years ago. Actually less.
Later in the last cycle 1k CANDLES we a thing.
In this cycle we are looking to breech 20k this time.
Can you imagine 20k candles?
YES._______________________________________________________________________________ __________  Thanks, gembitz, I haven't seen the dancing banana.gif for a while  |
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It is a weird feeling to be upset about corn being stuck between 19 and 19.5... we're spoiled.
 I feel this way about Monero. $130?!?! WTF man! All the more reason it will rip your face off when it catches up and overshoots. I think once BTC is well underway... |
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Poll:
A: Buy sailboat and vacation for X years @ $200k BTC
B: Hodl it all through the next crypto winter for the next post halvening run, sell zero
Toughie. I guess the key item is time: The more you wait to pleasure yourself the less time you will have to enjoy the pleasure. So I'd say balance out your lifelong intake of pleasure so it's not overwhelmed (oh great, ANOTHER Lambo) but at the same time not wasted (why did I stay in this job and shit away another year?) Cuz you can't get more years of being 20, 30, 40, 50 no matter what you do. You can live longer, but life at 70,80,90,100 is not the same as 20-50. Just my thoughts. I’m almost 30.. I was almost 30 once. I'm still 29, with xx years experience. |
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i stare at the screen. green candles mass gathering on almost all the timeframes. I am in awe. bitcoin is a ridiculous motherfucker. its the only super tiny valve for all analog value existing to possibly transform into the digital space. since digital photography came along, how many analog pictures are you taking? since email became a thing, how many hand written letters are you writing through the year? when you need to find a place how often do you use analog paper maps for orientation? when the digital alternative is on par with the analog version it flips over and the digital realm sucking in +95% of the market. software eats the world. almost everything we do with money/finance is not natively digital. I doubt that in 10-20 years analog money will still be around. bitcoin is digital scarcity. this will hit the global analog value treasure like a rocket. bitcoin the most conservative bet in "crypto" and at the same time the best appreciating of compared to legacy assets. the feedback loops and incentives are brewing this storm. how many millionaires will decide sooner or later the need a btc? there's almost double as many millionaires than bitcoin on th planet. even if they came out tomorrow with a statement that they would pay 1mil fiat for each bitcoin, then several million millionaires would be left out. in a few years all this writing in here we will probably judge it as naive. we will look back and think: " wow, little did we know. " Supply crunch. I wonder what wins out this cycle. The damping effect of scale? Or scarcity? The $30k ATH crowd, or the $300k ATH. I know where my conclusions lead. I think Perfect Storm is a fine cliché for this scenario. 30-50K: Don't bother waking me. 20k in an hour
Some good sized walls to breach. Unless they are just whale's accumulation walls, and pull back from the piranha swarm. Not sure one can outswim the school: Maybe they get schooled  |
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Follow The Bouncing Ball !  |
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pop goes the weasel  |
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Back on track after a Thanksgiving fake-out.  @philipma1957 - 36 hours... Or Less.  |
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Jan 20 --------- Joe Biden takes over? By the way he needed to go to emergency care today (no joke) hmmm this could be very interesting.
Fake News. That's the Trump Deep State trying to sabotage the incoming President-elect. So abc news ,nbc news ,and yahoo all lied about biden hurting himself while playing with his pet dog? Thats sad if the lies are that much. Dog's silence on this issue is very suspicious.  If anyone was doubting proof of circus |
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Continued messages from the fringe that the money printing won't stop in 2021 (to the contrary). Translation: buy everything ahead of an unprecedented dollar devaluation orgy.
2021 is gonna be a beautiful Bitcoin year. Edit: some more words on the Guggenheim story. Yep.  Haven't heard the fat lady sing, yet. 32 fine printing days remain. |
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Nobody seems to know what the fuck I am talking about and they get their little digs in here and there, but ultimately it seems to me that they continue to be nocoiners.. or at least I had not heard of any of them buying.
But... If you talk as much as you type, they maybe just didn't hear you. I know. I should save it for Thursday. Just sayin'. Anyway, I think most everyone here can relate. Not just to your garrulous verbosity, but this particular point  |
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..... coinbase as ive used it since 2013 or so.
....
Same here bro. Only bitcoin outfit I have ever dealt with that has never once been hacked or I've ever had a single issue with in my seven years in the crypto currency theater( and I've had a lot of them. ) .... be aware it gets a lot of hate for reasons but it works.
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A lot of Coinbase hate in the wob thread ?? Say it it ain't so!!! lmao ...  Coinbase Offers US Feds New Crypto Surveillance Tools https://www.coindesk.com/coinbase-analytics-blockchain-analysis-crypto-governmentIt's one thing to play by the rules and report to IRS which is required, but it's a different ball game to actively sell tracking software to governments, why are you funding this again? Use gemini at least the Winterfloss twins are pro bitcoin Yeah fuck coinbase seems a reasonable stance. I expect to get an earful regarding KYC etc regardless of exchange, though. |
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I don’t really feel that I am keeping my outrageous outlier orders out there for those kinds of slippage reasons.. but instead the buy orders down to $5k are just lingering ones, even though I am developing BIGGER and BIGGER doubts about any possibility of those orders being filled.. even sub $8k is looking at a fraction of a percentage of a chance, at best.
But the glory of bagging the outlier! A couple years ago I checked my bitstamp account, which I hadn't used for a while. Instead of the fiat I thought I'd left, I found a disproportionate amount of BTC. Apparently I stuck a lowball bid in just for lulz Sadly, I haven't caught one since. |
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Any advice on what exchange to use from the USA? Asking for a backwards, techless Ozark hick funding/withdrawal options other than wire transfer? I thought Kraken would be good, but apparently its easier to use from the North Pole than from within US. no advice per se but ill give a quick rundown on coinbase as ive used it since 2013 or so. be aware it gets a lot of hate for reasons but it works. cons: KYC to the max they will track the shit outta you. cant send or receive from any gambling site (pretty sure). will sell all info they can get on you and your corn to whoever wants it. site always seems to have "issues" when things get hot and interesting. thoughtfully sends the IRS a 1099 form in case you forget pros: takes yubikey as 2fa whitelisted withdrawal addys a vault that time delays coins moving (optional) links to bank account, and i think debit cards but not sure on that never used debit card there Coinbase is good for cash outs. Always remember if it goes in and out of coinbase it will be tax reportable for a USA citizen. Good to know. I want them to be able to easily deposit/trade/withdraw a few (very) small amounts to get familiar with the process before I even consider handing over the keys I've been custodian of for way too long. |
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Any advice on what exchange to use from the USA? Asking for a backwards, techless Ozark hick funding/withdrawal options other than wire transfer? I thought Kraken would be good, but apparently its easier to use from the North Pole than from within US. |
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