Don't fall for that nonsense. He stated in a recent video conference that they use BitPay to convert their coins to fiat in order to pay bills and whatnot. They had over a year to allocate their BTC holdings to pump up the price of BCH, which they kept doing, which means that they are running very low by now, especially if they are selling their last bits and pieces.

You can look at all the addresses containing coins we assume belong to Satoshi, they are still in their wallets doing nothing. It amazes me how people take these BCash con artists serously, they don't deserve any of our attention. Think about it, if a few silly con artists can do this to a market, don't you think the government would be able to nearly wipe out this market if it starts trying? Just wake up already.

We have to accept that the market is going down because it didn't bottom out yet. We have almost completed an 80% correction with today's low. XRP isn't going down much because it already found a bottom.

Watching the price go down with fiat in your pockets always feels good.

My current buy targets;

>$4000<$4500
>$3000<$3500 BIG

It's obviously not a guarantee that the price will fall down that much, and in case of the sub $4000 target it might take weeks or months to reach that price, but that's my plan. I went long on Bitmex just now because the price has been oversold and I expect some form of a recovery, probably back to $5500 to later fall back down.

Stablecoins are useful on most exchanges, just not convertable to fiat on most exchanges. The latter part of your post does however apply to USDT, and perfectly so. Tether in a short period of time took like 700-800 million USDT out of circulation in an attempt to stabilize its price. No way these tokens were backed.

Looking back now, Tether taking that many tokens out of circulation should have been an initial warning for the price to go down. Even if these tokens weren't actually backed, it still means that a significant amount of money left the market. If you take into consideration that there was more supply than demand even with the tokens in circulation, it's easy to figure out what happens when these tokens aren't in the market anymore. Talking after the price has gone down is always easy, I know.

Craig recently said he moved $100 million worth of paper Gold internationally for under 25GBP in fees to point out that Gold transfers aren't expensive, which is crazy if you think about it. How delusional is this dude? Wealthy individuals are out to NOT make it seem like they are filthy rich, while those with a big mouth who don't have much are busy making themselves look like a billionaire. Tells you enough.

You know what rappers and social media stars do? Start up so called fake beefs to boost their popularity, which if you think about it, might be the case here as well.

Charts of different time frames look similar till they don't, which applies to all these screenshots.

People panic because it happened so sudden. If the price slowly went down to where it stands right now, everyone would be calm and patiently looking forward to a rebound, but there is too much uncertainty in the market right now. People don't know where to look or what to blame anymore. The price is going down, that's the only certainty they have.

If $5000-$5500 is the new $6000-$6500 we will bounce back up soon. We have dipped below $6000 more than once this year.

As much as I would love to trash Bittrex, they did nothing wrong in this case as stated above. Pretty much every news outlet covered the whole situation around the theft, and the fact that Bittrex was going to delist that coin. Even BTG openly said that Bittrex would delist their coin.

Read through this thread, it includes a screenshot of Bittrex stating BTG will be delisted; https://bitcointalk.org/index.php?topic=4995050.0

And if you do anyway, which applies to plenty of people, because they don't seem to care, don't disappear without regularly checking back what's going on.

I'm not at all concerned about the manipulation aspect, and it might not even be the case at all. Sure, they could try to lower the market to enter and leverage their positions, but it's more likely that they'll try to support the market (and thus their holdings) rather than to pee in their own water.

I'm certain that institutions are just as afraid of manipulation from OG Bitcoin whales as we are afraid of institutional manipulation. In the end, we tend to call drastic price increases/decreases manipulation, while in reality it's just a large trader opening or closing its positions. In a market lacking liquidity, large players have no choice but to 'pump' or 'dump' the market 5-10%.

I'm not so sure of that. Institutions are used to buy financial products tied to whatever asset for the sake of convenience, and of course to counter the risks associated with them. On top of that, it's a nightmare to securely store tens or even hundreds of millions worth of Bitcoin. I'm certain that 9/10 people here don't even know what secure coin storage actually means.

It's typical mainstream media drivel. I don't even blame them for this since it's their job to fool dumb money.

I think we're heading in the right direction now; the sentiment amongst $20,000 before the end of the year believers sunk so low, that they are being shaken out of the market as we speak. It's smart market making, we are basically getting rid of selling pressure that would have prevented the price from going up anyway, so the situation isn't all that bad.

Another positive aspect is that even longer term Bitcoiners seem to turn bearish now, which allows contrarians to buy people's fear right now, and sell them happiness later on.

Not only that, but in case the coins for whatever reason end up being sent back, it will be to the addresses the funds came from, and in this case it means to the exchange in question. Try to make an exchange search for a needle in a haystack, which as per their very thin time allocations per support ticket, could take months at worst.

If I end up withdrawing funds from an exchange that I plan to spend and not reuse for trading purposes, I always have it run through Chipmixer first, some times even two times if I want to reduce the potential taint linking even further.

My process;

Exchange > freshly created wallet > mixer > other freshly created wallet -> mixer (only if you want to) -> final destination address, again a freshly created wallet.

Depending on the delays you go with, it's probably safe to say that it might very well take around 24 hours to complete.

Craig is a lunatic, and he may even be at a point he believes in his own lies.

Bitmain has a company to run, as I said before, heavily depending on BTC to perform well. If Bitmain for whatever reason positions itself in a situation it is forced to obtain fiat to pay bills and whatnot, they will liquidate other coins. As per their own released holdings report, they own 930,000 LTC, 300,000 DASH, and a small amount of Ether.

Tone Vays had Craig Wright in his show for an hour, where Craig said that they use BitPay as their fiat exit point to pay bills and whatnot, so another reason why he's not affecting the market personally. BitPay doesn't immediately sell their coins, just short a fraction and keeps the rest in reserve. And we don't actually know what he is cashing out, he can act like a tough boy, but he need all his Bitcoins (if he has a noteworthy amount to begin with) to pump up his shitty coin.

Tone Vays vs Craigh Wright show; https://www.youtube.com/watch?v=ACEUOCoVvmw

He will pretend to not have made that prediction and blame it on imposters. He did it once already where he was asked what his thoughts were about his $78,000 before the end of 2018 prediction that was waaaaay off, and he said it wasn't him lol.

It's here to see for everyone; https://www.youtube.com/watch?v=WBgFGwJA1D0

Skip to 48:00 and start watching from there. It's embarrassing.

---

Tom Lee is trying too hard and continues to focus on metrics that might have been accurate back in the days, but clearly don't apply to the current market anymore. By the time he adjusts his prediction to $4000 or something, we are already on our way to $10,000 making newer highs. He's the perfect counter indicator, the lower his predictions are, the more bullish you should get.

People overcredit these bastards.

They aren't selling their BTC to USD because they don't even need to. The main disadvantage is that selling BTC subjects them to taxation, and it lowers the income for their main mining pools heavily depending on a higher BTC value. Jihan is an asshole, but not an idiot, he needs BTC to perform well, especially in the runup to his IPO. Dumping BTC down means less demand for his miners.

The don't need part comes into play in form of free BCHSV coins they will use to fill up financial gaps. They'll dump them and celebrate being freed from faketoshi.

Perfectly understandable, but know that you don't have to use your own coins for that. In some cases there are deals that only apply to Bitcoin, which actually are pretty decent mostly, so what you do is buy Bitcoin with fiat (probably better to do in advance? not sure how easy it is for you to buy Bitcoin), then buy whatever you need/want with these Bitcoins. I already bought the coins I plan to spend. Burn fiat. Support Bitcoin.

Yes, there might be some volatility in the runup to black friday, but we're likely in a tight range similar to $6000-$6500 that we've been in all year.

No need to buy giftcards first; Purse.IO allows you to buy any product from Amazon with Bitcoin, where the best thing is that you can get an additional 5-30% discount.

I can't wait for black friday and cyber monday discounts. I don't really need anything from Amazon, I just want to spend my coins as enthusiast and purist, because Bitcoin is money, and it should be spent without converting it to fiat or giftcards first.

I think it's more related to seasonality. Last year during the bull run literally everyone that could clap in his hands was looking for a job that paid in crypto, which as we see now, there simply isn't much demand left. Crypto startups are firing people, news outlets reduced their writers but force their existing ones to push more content for the same pay, etc.

People love crypto when it goes up, revert back to fiat on the way down and during stagnant market phases.

Do we need them? Nope. Is it allowing money to remain in the market? Yes.

Tether is so well distributed amongst a wide variety of exchanges, that people not ever going to cash out to fiat, make sure they keep liquidity in this market rather than it flowing out of the market. People mostly aren't interested in the process of verifying themselves to cash out, they much rather utilize their stable tokens to buy the coins they want whenever they believe the time is right.

Exchanges know this, which means that if they manage to sell like $100 million in stable tokens, probably 25% of them will never be redeemed. Easy profit = incentive to create more stable tokens.

I don't like them either, but there is no point in fighting something you have no control over, it's a waste of time. My only advise to people is to avoid them.

It can scale, and it already did with Segwit. That poisonous entities in this space have different opinions and knowingly block adoption isn't the fault of the developers.

There are no issues in terms of on-chain scaling, that's only how opposing parties see it. I won't say that high fees are ideal, but it's a convenient way to let the ecosystem get used to it, because who's going to pay miners when the block rewards aren't cutting it anymore? You know what makes Bitcoin mining still interesting today during this bear market? Its fees.

On top of that, with services using Schnorr, Bitcoin's throughput will increase significantly, which means that there will be more available blockspace without actually increasing the block size. This is scaling. Increasing the block size is a poor mans way of dealing with a problem.

Bitmain and Ver are balls deep into this space financially, while Craig The Scammer is in it with his mouth and ego. Paying attention to Craig is a convenient way to waste time.

I think that you are out to discredit Bitcoin whenever you can. Payment processors implement altcoins because it's stupid to only stick to Bitcoin with how large the communities behind some altcoins are. If you stick to Bitcoin, you are excluding like 50% of potential revenue, now tell me, what business does that?

On top of that, people aren't spending their coins, doesn't matter whether it's Litecoin, BCrash, Ethereum, XRP, etc. It's the nature of this market that people don't spend that what they believe might pump tomorrow, especially when you take into consideration that people are too lazy to replace spent coins.

Extra point; BitPay didn't diversify, their BCash listing is purely the result of Bitmain's and Roger's influence. They will do whatever they can to block any other coin, because we all know (even with his hash war that costs them like $0.5-$1 million per day) that they don't mind losing money. It's a political battle for them.

It wouldn't even surprise me if Bitmex is stirring up the market behind the scenes, because that exchange relies on the volatility and chaos of the crypto market.

I never took the words from Hayes seriously, but as more time goes by, he's shockingly close to the truth actually. I noticed that you have to read between the lines when he's speaking, and when you do that (thus ignore the drivel) you clearly see a pattern with how the market shapes itself.

Source.

The non bolded part is the drivel. He knows how the legacy system works as ex Citi market maker, and thus he knows that there won't be an ETF.

Bitfinex is definitely a dark cloud hanging above this market, but I'm not sure to what degree they are doing this on purpose.

I think the problems around Bitfinex's fiat withdrawals become more apparent during selloffs because more people are looking to cash out fiat. If during normal times people trying to cash out fiat already have problems, you can imagine what happens when the number of people cashing out goes x100 or even more during selloffs.

Looking at their cold wallet status, it looks like the worst part of the panicking is over, otherwise their cold wallet would continue to deflate as time goes by.