The rumor pumped bitcoin to $56k 2 hours before Facebook’s submission of their quarterly report to the SEC and dumped when it was released with not a mention of bitcoin hehe. This is only another bitcoin maximalist who is larping. Facebook’s quarterly SEC filing has no mention of Bitcoin, let alone of a Bitcoin purchase, defying market expectations.
For a few days leading up to Facebook’s earnings reported today, there was talk that the world’s most famous social network was about to purchase billions of dollars in Bitcoins: those rumors turned out to be precisely that – just rumors.Source https://cryptopotato.com/massive-btc-price-volatility-as-facebook-apparently-didnt-invest-in-bitcoin/@Fortify. Agreed. Michael Saylor and other institutional investors might also have influence on bitcoin’s roadmap for the future because they can threaten a dump. |
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After all the hype, does anyone have information on this? I reckon blockchain analytics should follow those coins of the new VIP of the bitcoin community and follow the movement of their coins.
If though someone will be able to find out about their wallet to monitoring their fund movement i don't think it will be helpful for us. It may cause of big rumor about selling or moving fund anonymously and will cause of panicking people . Maybe it will lead people to make mistakes and will damage the market .... It might not be for you, however, it might be for someone similar to Michael Saylor or the other whales hehehe. In any case, it appears the high fees was caused by Tesla’s transactions to the exchange and some insiders might have tried to pay higher fees to have their transactions confirmed first hehe. Tesla sold some of its bitcoin (BTC, -1.49%) stash in the first quarter for $272 million in proceeds.
The sale trimmed Tesla’s position by 10%, Tesla CFO Zach Kirkhorn said on an earnings call Monday.
In the slide deck accompanying the company’s first-quarter earnings results Monday, Tesla mentioned the sale of some bitcoin:
"Year over year, positive impacts from volume growth, regulatory credit revenue growth, gross margin improvement driven by further product cost reductions and sale of Bitcoin ($101M positive impact, net of related impairments, in 'Restructuring & Other' line) were mainly offset by a lower ASP, increased SBC, additional supply chain costs, R&D investments and other items. Model S and Model X changeover costs negatively impacted both gross profit as well as R&D expenses."Source https://www.coindesk.com/tesla-sold-bitcoin-in-q1-for-proceeds-of-272mIf there are high fees again on the 2nd quarter, I speculate it might be Tesla and the the whales who know again hehehehehe. |
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@acquafredda. The comparison with gold that has 79 proton and 79 electrons and no human can change, to a man made computer program that can be changed is wrong. However, I agree. The developers might begin to have a hard time to change things in the protocol without the permission or influence of the whales similar to Michael Saylor. He presently has the threat to dump his coins if his voice is not heard.
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I changed my first pick from Frances McDormand and my bet went to Viola Davies. I thought the black lives matter movement would be in the storyline for this year and Viola and Chadwick Boseman would win best actor and actress categories. It appears the voters did not care or there were more white voters than black voters hehehehe.
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However everyone, you should remain as realists and accept that bitcoin is on a bubble that might burst unexpectedly. Everyone is going to the cryptospace presently to get rich quick and live their dreams. But the bulls do not remains bulls similar to 2013 and 2017. Young South Koreans are reportedly turning to cryptocurrencies as a means of generating wealth in greater numbers , much to the chagrin of their employers.
Many of South Korea’s young workers aged in their 20s and 30s are leaving their average paying jobs to explore crypto day trading, according to a report by local news outlet The Chosun Ilbo on Tuesday.
Their goal is to escape poverty and amass enough wealth to buy a home, a dream many young people worldwide feel is out of reach.
“I face the reality of being unable to afford my own home no matter how hard I save up my salary,” said one anonymous worker cited in the report. “There is no other way than cryptocurrency investments for me to accumulate wealth.”Source https://www.coindesk.com/young-koreans-crypto-wealth-alernative |
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In any case, you are unlikely to ever know where they store their funds.
Agreed. However, blockchain analytics companies similar to Chainalysis and other Chinese, European blockchain analytics might find those addresses in time. It can be very hard for anyone to be anonymous against exchanges who employ of those type of services. |
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This is good news, however, as the skeptic and the antagonist hehe, I disagree with this statement. Which could potentially replace gold as a monetary reserve, is limited and finite and there is a maximum capacity of only twenty-one million bitcoins allowed to be produced. Bitcoin’s supply is only limited through a consensus of a community. I am not telling everyone it will change, however, it can be changed if there was consensus. People should be careful with comparing bitcoin to gold.
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@buwaytress. It might be because to comply should make those exchanges delist many coins that are considered illegal securities according to the regulators. Those exchanges would also need to begin asking for stricter KYC from users which they might not want to do because users will leave. It might also imply that they should stop accepting users from certain jursdictions.
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@ stomachgrowls. What the government might do is raise taxes on bitcoin miners and Asic manufacturers very high and make them unprofitable. Also, require them to comply with stricter rules and disapprove license applications that do not meet the criteria.
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It appears there were only very few people who knew that Tesla was selling some of their coins hehehe. I reckon knowing where Tesla holds them would have saved traders their billions lost in liquidation hehe. Tesla sold some of its bitcoin (BTC, +4.56%) stash in the first quarter for $272 million in proceeds.
The sale trimmed Tesla’s position by 10%, Tesla CFO Zach Kirkhorn said on an earnings call Monday.Source https://www.coindesk.com/tesla-sold-bitcoin-in-q1-for-proceeds-of-272m |
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Brandt warns that Biden could do a lot of damage to bitcoin.
Meh. However smart this guy may be, he's a hardcore Trump fan. He's part of a select crowd that desperately wants Biden to hate Bitcoin so his previously established viewpoint can be validated.  Meanwhile Biden hasn't actually said peep about Bitcoin, ever, and hey that's about as good as its gonna get as far as U.S. Presidents are concerned. Contrary to what Trump specifically said about Bitcoin, does anybody remember that?  To the tin-foil hat-wearing conspiracists among up: Why did Trump cave to the Reptilians demand that he publicly denounce Bitcoin, but Biden hasn't? Is Biden some kind of bad-ass or is was Trump a wuss? Put what Trump has said about bitcoin and the cryptospace aside or what Biden is not saying. Would you speculate that Biden is better or worse for bitcoin? It only appeared that Trump was against bitcoin, however, his adminstation was not doing what Janet Yellen is planning to do. |
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I remain to argue that they are speculations about Tether. They are not FUD because Tether only showed attestations. They were not audits.
Saying iFinex Inc (Bitfinex parent company, also creator of Tether) is shady and have never been able to provide any proof that their USDT is backed by USD 1:1 is not FUD, it is a fact. I have also warned people basically any time they talk about moving to a "stablecoin" in times of volatility. However, saying Tether controls bitcoin price and the reason why it has gone up is because of Tether, or as you put it "Tether is pumping this market" is a big ass FUD. You say that it is a fact that iFinex, Bitfinex and Tether has never provided convincing proof that USDT is backed by USD 1:1, however, all speculations that they might be printing billions to pump the market is FUD? FUD is based on false information. The basis of the speculation that Tether is being used to pump the market is based on according to you a fact. I also never said Tether controls the price. I said it is used to pump the price. However, let is agree to disagree. |
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What was Peter Brandt’s political affiliation during the election last year? I am not certain but he appears to be a progressive democrat hehehe. There was a thread on election betting in the gambling subforum. There were people there who speculated that Biden will be better for the cryptospace than Trump. I do not know if they have a similar opinion today, however. They might not anymore hehehehe.
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@ willoweb. I agree that there might be some big whales who might be trying to sell their coins first because they might be speculating some negative regulatory development, however, it can also be argued that they are also only overreacting from what might not become approved into law.
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Even their own government is worried about how many of their citizens are into the crypto industry not because of the AML issue but because of its speculative in nature which I think for something that affects the economy will really make any government to worry about. With their department head speaking like that on how their crypto exchanges will be shutdown it is obviously a threat or a wake up call for crypto exchanges to fill in the requirements which is tying up with a commercial bank as only the big 4 crypto exchanges in South Korea have complied so far. There is really no issue at all but they are just waiting for this exchanges to comply with the new regulations they have.
The government does not care for the people. The government is worried because the cryptospace is giving the people the power to move value everywhere without their control. Also, the cryptospace takes the power of money issuance away from the government. |
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@boyptc. Yes, it also happened to Anderson Silva. Do you know who Anderson’s opponent when it happened? I will leave it for you to research hehehehe.  |
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Coinbase has announced that they will begin to support Tether.
Get ready for all the Tether FUD to come out again, specially since it will coincide with the end of the correction and the start of reversal. As we set the new ATH in May, the FUD will set a new ATH too  I remain to argue that they are speculations about Tether. They are not FUD because Tether only showed attestations. They were not audits. I also have another speculation and this might be FUD hehehe. However, I ask who is the creator of stock to flow? What do we know about him? Is it not possible that this character was created by Tether while they manipulate the price to move very closely with stock to flow hehehehe? |
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Yes I am still me hehehe. I am always the skeptic and always the contrarian, however, also the realist. I have 3 reasons why bitcoin might not yet be entering a bear market. The last time the RSI on bitcoin has fallen to this low was September of 2020. It pumped from $10k to $30k after this.  Coinbase has announced that they will begin to support Tether. It is speculated that Tether is pumping this market. It appears this might not stop soon. Coinbase announced late Thursday that its Coinbase Pro trading platform is adding support for Tether's USDT, dollar-tied stablecoin.Source https://www.theblockcrypto.com/linked/102687/coinbase-pro-announces-support-for-tethers-ethereum-based-usdt-stablecoinThe last reason is the unconfirmed transactions are decreasing. Those transactions that paid for high fees might be transactions sent to exchanges to confirm quickly for dumping. It appears to have ended.  |
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@tromp. Is it late for Grin to change the roadmap to pursue Asic resistance? It appears that regulations and government policy might become a barrier for growth, decentralization and independence from influence. Where Grin is strong in its monetary policy, acceptance of Asics might become a weakness. The three largest Chinese bitcoin (BTC, +3.56%) mining hubs are facing serious headwinds from regulators. This could put a big dent in hashrate production, which is the computing power to mine bitcoin. Hashrate from China contributes over 65% of the world’s total, according to some estimates.
Heavy scrutiny of coal mines in Xinjiang, new regulations on high energy-consuming companies in Inner Mongolia and the end of a local energy policy in Sichuan have unnerved some bitcoin miners in China. The regulatory challenges from these three regions are distinct, but they epitomize some of the biggest long-term policy risks when Chinese crypto miners deal with local authorities. Source https://www.coindesk.com/chinese-crypto-miners-face-unstable-regulatory-environment |
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