Did you see Roger Ver's quote?! OMG OMG OMG Dick Hey, it's good to know he settled that question. We've all been wondering. That's what happens when no one else answers their email. Just assume that the truth lies somewhere opposite of whatever that guy says. Hey maybe one day they will nail him to the wall on securities fraud and collusion charges. That would be sweet. |
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Pretty telling when there's more forks of Bitcoin on the way, but nobody even bothers to fork bcash.
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Remember kids: Futures whale traders that need more supply will gladly short bitcoin and pump the alts to entice you to part with your btc.  |
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I would never own an all-EV car that didn't have a multi-year tried and true, road-tested battery system that I could rely on for at least 8-10 years... otherwise...  |
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Most luxury items are stupid, from "limited edition sneakers" to diamonds to those "super" cars.
Basically a "stupid tax".
Well, I guess they serve a purpose in signalling wealth for people who want to use that to attract people of the opposite sex, but I mostly agree with you on the "stupid tax" thing. I had a high school football coach that got divorced during my first year. Then he goes out and buys a Porsche 911. Gets a new girlfriend, dates for a year, then gets married again. Then gets rid of the Porsche (probably because she asked him to). A few years later, he's divorced again. Probably because he got rid of the Porsche.  |
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I think a fundamental problem with the analyses of these wall street types is that they can't comprehend the power of the HODL.
Many of the early adopters, who are still HODLing, got involved in bitcoin to begin with for philosophical, moral, or political reasons. These HODLers are fundamentally different from 99.9% of people/organizations who are long on a stock.
The typical equities investor will take profits at fairly predictable intervals, and cut their losses at fairly predictable levels. Bitcoin HODLers realize they're invested in a world changing technology that has an incomprehensible upside in price still.
Agree. It's also about liquidity. The way IPOs are launched, 99% of stock shares are insta-mined and distributed to the founders, employees, angel investors, and hedge fund traders. The remaining 1% hits the exchange float and gets leveraged up 1000X. Then trading bots take over. Over time more liquidity is provided from the first 99% stock insta-mine on a release schedule. Large pools of stock shares get into the hands of mega whales, who from which you are just leasing stock as an IOU when you purchase stock. In addition to that, what is believed to happen is some deep pocketed wealthy elite calls up and says "Hey, can I get some more shares over here?" and either 1) some more shares get released and change hands, or 2) extra shares are just magically conjured into existence (either just fraudulently created, or through "phantom sharing" fractional reserve, or both). More info here: http://www.zerohedge.com/news/2017-12-07/systemic-risk-pffft-my-friends-systemic-riskSo, in the equity world you find that 99% of shares START OFF in the hands of the elites and whale traders and they control everything a particular stock might do. It's a club and they know and trust all the inner circle members. And they know that retail investors have a minimal effect on the performance of a stock. However in the Bitcoin world, 90% of bitcoins mined have STARTED OFF in the hands of Average Joes and they are in control. And that worries the establishment. They're not part of the club, the inner circle (because there isn't one). They worry that there's some demented, libertarian Average Joe out there sitting on a half million coins with crazy thoughts, that might on a whim decide to mega dump on the market one day in the future. Or just as bad, may never part with his coins. This is why the establishment have no control over the initial liquidity of bitcoin in the market. And they won't for a really long time. I suspect it will be a slow ramp up for them and they will get frustrated. Trying to continuously pump and dump is the only way they can "shake the tree" to try and get some more coins to fall out. |
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So Cramer just admitted on cnbc that Bitcoin supply was a problem. Because it forces market makers to push the market as high as possible to "shake out more coins". But that's not happening. People aren't taking profits like they expected. He's worried that they'll have to push the Bitcoin market cap to $1T first before they start to see more supply hit the exchanges.
This is fkn hilarious. They can't just call up someone and whip up more stock shares (like they do when other equities launch!). He basically just revealed what everyone has been suspecting for a long time now, that the U.S. stock market is a complete fraud that only enriches the wealthy elites.
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At the beginning of 2017, I was guessing that we'd end the year somewhere between $1600-1800/btc. Only missed it by a factor of 10.  Of course in hindsight, all the bullshit, shake outs, fake outs, upgrade blockades, flippenings, etc. now all make perfect sense. They knew that far in advance. |
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Jim Cramer absolutely, positively cannot shut his big mouth about Bitcoin. https://www.cnbc.com/2017/12/07/cramer-bitcoin-is-suspicious-for-5-reasons.htmlI love these quotes: "First, no one knows who created it. Second, no one knows how much the creator reserved for themselves. For all we know, there are tons of these things sitting on the sidelines somewhere. Third, there's virtually no transparency into the underlying system," Cramer said. "Fourth, there's no government backing — obviously — there are no underlying assets backing it up and there's no military support for the bitcoin system, unlike real currencies."
Fifth, despite the professed protection of blockchain, the secure way to trade bitcoin, Cramer pointed out the bitcoin is software. And software, as we know all too well, can be hacked.
"When, not if, but when, that happens, it will be a total loss as there's no insurance and no fiat backing," Cramer said. "With those five considerations, sooner or later, this thing's going to run out of steam."
"Once we get an orderly market in bitcoin, I think a top won't be far behind," he said. "Look, I want to congratulate everyone who was early on this story, everyone who ... sold it at $19,000, everyone who's made a fortune in bitcoin. You're smart, you're good, you're fabulous. But when the other side of the trade develops, bulls make money, bears make money, and pigs get slaughtered. And I do not want you to be a pig and get slaughtered."
Oh please Jim, save us all! Average Joe stay far far away! |
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I don't live in the US so I have to rely on statistics. Might well be true what you are saying. I just took some inflation rate provided online.
Though the numbers would still not match the increase in 500%. I don't know details about the whole market though, just the simple numbers I got from looking for five minutes.
Oh yeah, we've been living with high inflation rates here in the U.S., but they've managed to do it so subtly since the financial crisis that barely anyone has noticed. It's been mostly in the things that people rely on every day or every month (with the exception of gasoline and clothing). And keeping wages flat over a decade is a form of inflation in and of itself. A double whammy that has cut people's purchasing power by at least 30-40%. Couple that with high personal debt, and people feel trapped. All their money is going to pay debts, they have no savings, and no longer have discretionary spending to buy things. The U.S. GDP is 70% consumption! And I think it's going to get worse in the coming decade. |
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I'm wandering...who's going to buy bitcoin at a million and thinks it's a good price?
Celebrities, politicians, wealthy elite banksters, mafia leaders, drug lords, kings and queens, Warren Buffett, and finally.... Jamie Dimon. |
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Bitcoin was released right at a time where the bankers knew debt based fiat was going into cascading deflationary collapse since in this fraudulent system debts are considered assets instead of liabilities. This is why the evil Jew sheklers running the system starting spamming the phrase "helicopter money" and "basic income" as an actual serious proposed solution. The system either collapses in deflation, or they print and....it collapses anyway, just a few days later from hyperinflation.
If used as a dollar substitute, bitcoin for all intents and purposes IS helicopter money (bitcoin currently is a dollar derivative and not substitute). So they probably released this bullshit as part of that plan. It's just that the market was completely cornered due to ASIC manufacturers right after it was released, making distribution terrible, rendering the entire exercise pointless and not "helicopter money" anymore since the so called money only goes to a couple people. It appears they continued with their pointless plan anyway and tried to raise the bitcoin price. After this move completely fails to raise money velocity or do anything for the economy, there will be some type of implosion and they will do real helicopter money or basic income into people's bank accounts.
Actually r0ach, Bitcoin wasn't a spawn by the evil jew banksters. Bitcoin was really a conspiracy created by the aliens. Or more specifically, the Scientologists. You see, L.Ron Hubbard was directly given the Bitcoin blockchain technology by the aliens. He gave it directly to David Miscavige upon his passing. Mr. Miscavige then got together with fellow Scientologists Tom Cruise, John Travolta, Gavin Andresen, and Will Smith and concocted a master plan to release Bitcoin upon the world to take over all worldwide fiat monetary control, before The Great Alien Invasion could begin in earnest. It wasn't until Leah Remini spoiled their evil plans by breaking free of the Scientology cult and releasing the Bitcoin codebase as open source, and also sending the first workable developer version to Mt. Gox CEO Mark Karpelès. Then all hell broke loose... |
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Did GDAX just hit $19,340 ?
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Good lord, as if you couldn't tell bitcoin is a govt backed jew scam due to people like Larry Summers and Ben Bernanke promoting it, all the same sheklers were claiming after bitcoin went up during the halving that it appeared bitcoin was becoming an "uncorrelated asset" just like gold and silver, meaning they should move together. Currently jews are doing the most obvious metal manipulation ever seen in the last 100 years with $2-4 billion naked shorts every other day on metals while trying to pump bitcoin at the same time. So these so called "uncorrelated assets" that are supposed to both move in the same direction are moving in complete opposite directions, and it's not due to any type of free market forces.
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I'm surprised yahoo took the time out to NOT whine about Trump and the end of the world for 30 seconds. So that guy is moaning that Bitcoin is just like gambling. Isn't that what most of the banking / trading / lending business is about. You "invest" or "lend" money for a potential higher return. You could get run over by a bus tomorrow and never see that return. Most things in life that carry the greatest rewards are about gambling or at least taking some risk I reckon. One gambles with their money but more so with their time or effort usually. I think he's irritated because he's known for talking about corporate equities in terms of their "valuation" due to "earnings". That's his whole entire shtick. So he can't talk about Bitcoin in terms of valuation publicly, because: 1) he can't talk about why it's better than fiat, gold, or other stores of value/ forms of currency. That runs counter to the whole bankster-controlled, stock market racket that he's a part of. and 2) he doesn't know how to value it. Bitcoin doesn't behave like an equity. It's also not "gameable" like equities are. Bitcoin breaks the mold. It also breaks (and hopefully exposes) the great scam/lie that is the U.S. stock market. I could go on for hours about that, but I won't. |
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